PETALING JAYA: Bank Negara has decided to leave the overnight policy rate (OPR) unchanged at 3.5% after evaluating the downside risks to growth and the upside risks to inflation.
The central bank said the latest available data indicated that major industrial economies were experiencing a moderation of economic activities, which was likely to lead to slower global growth in the months ahead.
“While the slower external demand will have some moderating impact on the Malaysian economy, growth continues to be supported by an expansion in domestic demand,” it said in a statement issued yesterday following a meeting of its monetary policy committee.
The central bank said the strong imports of capital goods, manufacturing investment approvals and foreign direct investment inflows indicated sustained investment activity.
It said despite the global financial turmoil, domestic credit conditions were still favourable as demand for financing was underpinned by ample liquidity in the financial system.
Bank Negara said domestic food prices had risen due to the increase in global prices. The food price increase, it added, was a structural phenomenon that required measures to ensure adequate supply, the creation of appropriate incentive structures to promote higher food production, and making the production and distribution chain more efficient.
“The bank’s forecast of 2.5% to 3% average inflation in 2008 has built in some administered price adjustments,” it said.
Source: The Star
Wednesday, April 30, 2008
Tuesday, April 29, 2008
28 Ways To Save For A Rainy Day
Try these easy, down-to-earth ideas for cutting expenses and spending. Then use the freed-up cash to boost your emergency fund.
By Bankrate.com
Perhaps you've intended to start an emergency fund. The barrier has simply been a lack of funds left over at the end of the month to put aside.
To break the paycheck-to-paycheck cycle that's leaving your checking account balance low, examine your everyday expenses and look for ways you could slash unnecessary spending. Start by writing down all your expenses for a month. At the end of the month you'll likely see several money drains that you could plug.
Once you've identified the causes of your dwindling account balance, consider these tips for slashing your spending and freeing cash for your emergency fund. Bank any money you save in a high-yield savings account.
Cut down on phone extras
1. Get back to basics. Consider canceling services such as call waiting, caller ID, call forwarding and three-way calling on your land line. Do the same with your cell phone, cutting expensive frills.
After all, the point of a telephone is to make calls.
2. Call 411 for free. Do you make a lot of directory-assistance calls from your cell phone? Typically, cell phone providers charge a fee every time you call 411.
Instead, you can call 1-800-GOOG-411 (1-800-466-4411) to get the listing you want for free. Another free service, 1-800-FREE-411 (1-800-373-3411), requires you to listen to a short ad before you get your number.
3. Stop going the distance. Drop your long-distance carrier if you make infrequent long-distance phone calls. Instead, use a prepaid phone card, a dial-around service or even your cell phone if you've got the minutes.
4. Examine cell-phone usage. Are you exceeding your allotted monthly cell phone minutes each month or using far fewer minutes than your plan allows? Re-evaluate your calling plan and make changes to suit your needs. If you're paying for a household of users, consider whether everyone really needs his or her own line.
Learn feel-good financial tricks
5. Nix the huge tax refund. That annual $2,400 tax refund may feel great, but you're depriving yourself of $200 every month of the year. (See "Why I hate income-tax refunds.")
Don't give Uncle Sam an interest-free loan. Adjust your withholding allowances so that you're keeping an appropriate amount of money for yourself each month. Put the extra money in a high-yield savings account to make it work for you throughout the year.
Talk back: Do you have an emergency fund?
6. Pay in cash. Unless you're in the habit of paying your credit card bills in full each month, don't use the cards for anything you can eat or wear. Try to pay in cash to make yourself aware of how much you're spending. (See "Your 5-minute guide to credit cards.")
7. Live one pay raise behind. Rather than spending that 3% cost-of-living raise, add it to your emergency fund. And the next time you get a raise, increase your disposable income by the amount of your last raise.
Stretch your clothing budget
8. Shop smarter. Select articles of clothing you can use to make multiple outfits, in versatile colors that are easy to mix and match.
Stay away from trendy clothes, shoes and accessories you won't wear after they're no longer in fashion. Buy items that serve a dual purpose, such as work and weekend wear, if possible.
9. Minimize tailoring and dry-cleaning costs. Stick to buying wash-and-wear clothes when you can, and save the dry-clean-only clothes for special occasions. If possible, try not to buy clothes that need alterations, as those costs can add up, too.
10. Turn unworn clothes into money. Take the clothes you or other members of your family no longer wear -- that are still in good condition -- to a consignment shop. Or hold a yard sale.
Rev up auto savings
11. Plan your errands. Combine errands into one trip and plan your stops for the most efficient route. You'll save yourself time and money.
12. Buy retread tires instead of new tires. Retread tires are cheaper, safe and environmentally friendly. To learn more about retread tires and locate a local supplier, visit the Environmental Protection Agency's Web site.
13. Take it easy. Your vehicle will burn less gas if you accelerate and brake gradually.
Save on insurance costs
14. Analyze your homeowners coverage. Check if there's any coverage you have that you can do without. Consider raising your deductible to save money on premiums.
15. Compare health plans. Working couples can reduce out-of-pocket medical expenses and premiums by carefully comparing the costs of the benefits offered by each employer to find the best deal.
16. Get a break on car insurance for good behavior. Ask about discounts if you've gone a certain number of years without an accident or ticket, store your car in a garage or drive fewer than a certain number of miles each year.
17. Keep a good credit rating. Many insurance companies use your credit rating to determine whether to insure you and how much to charge.
18. Get rid of private mortgage insurance. If you have 20% equity in your home, you could qualify to start saving that money.
19. Adjust your auto coverage. If the kids have left for good, take them off the policy. If they are simply away at college, ask about a distant-student credit. Usually it applies if your child is a full-time student, has gone at least a certain distance to college and hasn't taken one of the family cars to campus.
For students who keep cars on campus, some insurance companies offer "good student" discounts to those who maintain a certain grade-point average.
Eat well for less
20. Keep your eyes open for new restaurants. They typically offer grand-opening specials.
21. Hunt for discounts. Check your local newspapers for advertisements of lunch and dinner specials, as well as early-bird specials. Look for coupons, too.
22. Cut back on your caffeine costs. Stop buying coffee at the chichi coffee joint down the street from work. Bringing coffee from home in a Thermos or brewing it in the break room will actually improve the quality of your morning shot of energy, as well as cut its cost dramatically. You can get 40 cups of coffee from a pound of beans.
Even gourmet beans can be purchased for $8 per pound. If you're spending $2 per day on coffee -- easy to do in most workplaces -- you'll go from spending $500 a year to about $50 by making your own. For the best savings (and flavor), buy whole beans and grind them yourself. Packaged ground coffee can cost a few dollars extra.
23. Bring your own bottle. Take cans of soda or bottled water to work instead of buying them out of a vending machine. Bottled water sells for 14 cents a bottle at a big-box grocery store, and soda is 16 cents a can (less for off-brands). Compare that with the 75 cents or more that you'll spend at the machine and it's a no-brainer.
You can go even further by cleaning your small plastic water bottles and replenishing them with drinking water from a gallon jug or from a household tap. (It's an environmentally friendly move, too.)
Entertain yourself on the cheap
24. Have fun staying home. Tell friends to each bring over a dish and host a potluck, game or movie night.
25. Read not, waste not. Cancel subscriptions to magazines and newspapers you haven't been reading. Or see if the publication has an online version you can access for free or less than a printed copy.
26. Evaluate your cable package. Do you really need 300-plus channels? Do you have time to watch those movie channels you're paying a premium price for? You can always rent movies when you want to watch a particular flick. Switch to basic cable and save a bundle each month.
27. Rent movies economically. Cut down the number of times you rent movies or try an online rental service that charges a flat rate each month to rent a certain number of movies. Shop around to find the best deal that suits your needs.
If you buy movies, check out the "pre-viewed" movies section at the video rental store, which offers previously viewed DVDs at a discount. You might find the same movie at a better price or get deals if you're buying several at a time.
28. Use the library. Besides books, you can borrow movies, music CDs and even exercise videos from the library. Check the selection available at your local library and keep yourself entertained for free.
-------------------------------------------------------------------------------------
There are no fixed rules that you must follow. Just choose whichever that's practical to you.
By Bankrate.com
Perhaps you've intended to start an emergency fund. The barrier has simply been a lack of funds left over at the end of the month to put aside.
To break the paycheck-to-paycheck cycle that's leaving your checking account balance low, examine your everyday expenses and look for ways you could slash unnecessary spending. Start by writing down all your expenses for a month. At the end of the month you'll likely see several money drains that you could plug.
Once you've identified the causes of your dwindling account balance, consider these tips for slashing your spending and freeing cash for your emergency fund. Bank any money you save in a high-yield savings account.
Cut down on phone extras
1. Get back to basics. Consider canceling services such as call waiting, caller ID, call forwarding and three-way calling on your land line. Do the same with your cell phone, cutting expensive frills.
After all, the point of a telephone is to make calls.
2. Call 411 for free. Do you make a lot of directory-assistance calls from your cell phone? Typically, cell phone providers charge a fee every time you call 411.
Instead, you can call 1-800-GOOG-411 (1-800-466-4411) to get the listing you want for free. Another free service, 1-800-FREE-411 (1-800-373-3411), requires you to listen to a short ad before you get your number.
3. Stop going the distance. Drop your long-distance carrier if you make infrequent long-distance phone calls. Instead, use a prepaid phone card, a dial-around service or even your cell phone if you've got the minutes.
4. Examine cell-phone usage. Are you exceeding your allotted monthly cell phone minutes each month or using far fewer minutes than your plan allows? Re-evaluate your calling plan and make changes to suit your needs. If you're paying for a household of users, consider whether everyone really needs his or her own line.
Learn feel-good financial tricks
5. Nix the huge tax refund. That annual $2,400 tax refund may feel great, but you're depriving yourself of $200 every month of the year. (See "Why I hate income-tax refunds.")
Don't give Uncle Sam an interest-free loan. Adjust your withholding allowances so that you're keeping an appropriate amount of money for yourself each month. Put the extra money in a high-yield savings account to make it work for you throughout the year.
Talk back: Do you have an emergency fund?
6. Pay in cash. Unless you're in the habit of paying your credit card bills in full each month, don't use the cards for anything you can eat or wear. Try to pay in cash to make yourself aware of how much you're spending. (See "Your 5-minute guide to credit cards.")
7. Live one pay raise behind. Rather than spending that 3% cost-of-living raise, add it to your emergency fund. And the next time you get a raise, increase your disposable income by the amount of your last raise.
Stretch your clothing budget
8. Shop smarter. Select articles of clothing you can use to make multiple outfits, in versatile colors that are easy to mix and match.
Stay away from trendy clothes, shoes and accessories you won't wear after they're no longer in fashion. Buy items that serve a dual purpose, such as work and weekend wear, if possible.
9. Minimize tailoring and dry-cleaning costs. Stick to buying wash-and-wear clothes when you can, and save the dry-clean-only clothes for special occasions. If possible, try not to buy clothes that need alterations, as those costs can add up, too.
10. Turn unworn clothes into money. Take the clothes you or other members of your family no longer wear -- that are still in good condition -- to a consignment shop. Or hold a yard sale.
Rev up auto savings
11. Plan your errands. Combine errands into one trip and plan your stops for the most efficient route. You'll save yourself time and money.
12. Buy retread tires instead of new tires. Retread tires are cheaper, safe and environmentally friendly. To learn more about retread tires and locate a local supplier, visit the Environmental Protection Agency's Web site.
13. Take it easy. Your vehicle will burn less gas if you accelerate and brake gradually.
Save on insurance costs
14. Analyze your homeowners coverage. Check if there's any coverage you have that you can do without. Consider raising your deductible to save money on premiums.
15. Compare health plans. Working couples can reduce out-of-pocket medical expenses and premiums by carefully comparing the costs of the benefits offered by each employer to find the best deal.
16. Get a break on car insurance for good behavior. Ask about discounts if you've gone a certain number of years without an accident or ticket, store your car in a garage or drive fewer than a certain number of miles each year.
17. Keep a good credit rating. Many insurance companies use your credit rating to determine whether to insure you and how much to charge.
18. Get rid of private mortgage insurance. If you have 20% equity in your home, you could qualify to start saving that money.
19. Adjust your auto coverage. If the kids have left for good, take them off the policy. If they are simply away at college, ask about a distant-student credit. Usually it applies if your child is a full-time student, has gone at least a certain distance to college and hasn't taken one of the family cars to campus.
For students who keep cars on campus, some insurance companies offer "good student" discounts to those who maintain a certain grade-point average.
Eat well for less
20. Keep your eyes open for new restaurants. They typically offer grand-opening specials.
21. Hunt for discounts. Check your local newspapers for advertisements of lunch and dinner specials, as well as early-bird specials. Look for coupons, too.
22. Cut back on your caffeine costs. Stop buying coffee at the chichi coffee joint down the street from work. Bringing coffee from home in a Thermos or brewing it in the break room will actually improve the quality of your morning shot of energy, as well as cut its cost dramatically. You can get 40 cups of coffee from a pound of beans.
Even gourmet beans can be purchased for $8 per pound. If you're spending $2 per day on coffee -- easy to do in most workplaces -- you'll go from spending $500 a year to about $50 by making your own. For the best savings (and flavor), buy whole beans and grind them yourself. Packaged ground coffee can cost a few dollars extra.
23. Bring your own bottle. Take cans of soda or bottled water to work instead of buying them out of a vending machine. Bottled water sells for 14 cents a bottle at a big-box grocery store, and soda is 16 cents a can (less for off-brands). Compare that with the 75 cents or more that you'll spend at the machine and it's a no-brainer.
You can go even further by cleaning your small plastic water bottles and replenishing them with drinking water from a gallon jug or from a household tap. (It's an environmentally friendly move, too.)
Entertain yourself on the cheap
24. Have fun staying home. Tell friends to each bring over a dish and host a potluck, game or movie night.
25. Read not, waste not. Cancel subscriptions to magazines and newspapers you haven't been reading. Or see if the publication has an online version you can access for free or less than a printed copy.
26. Evaluate your cable package. Do you really need 300-plus channels? Do you have time to watch those movie channels you're paying a premium price for? You can always rent movies when you want to watch a particular flick. Switch to basic cable and save a bundle each month.
27. Rent movies economically. Cut down the number of times you rent movies or try an online rental service that charges a flat rate each month to rent a certain number of movies. Shop around to find the best deal that suits your needs.
If you buy movies, check out the "pre-viewed" movies section at the video rental store, which offers previously viewed DVDs at a discount. You might find the same movie at a better price or get deals if you're buying several at a time.
28. Use the library. Besides books, you can borrow movies, music CDs and even exercise videos from the library. Check the selection available at your local library and keep yourself entertained for free.
-------------------------------------------------------------------------------------
There are no fixed rules that you must follow. Just choose whichever that's practical to you.
Price trading rules for Bursa?
By LOONG TSE MIN
Some retail investors believe counters with low share price and lacklustre trading should be de-listed.
PETALING JAYA: Trading volume in a number of lower liners has risen, with penny stocks such as Pilecon Engineering Bhd, PECD Bhd and Mesdaq-listed Wimems Corp Bhd now suspended from trading, having been heavily sold down to below 10 sen per share.
The feeling among some retail investors is that counters with low share price and lacklustre trading should be de-listed.
Apparently, the New York Stock Exchange (NYSE) has a “quantitative continued listed standard” rule to make it possible to de-list a stock that is trading below US$1 for 30 consecutive trading days.
So why not on the local bourse?
Bursa Malaysia Bhd chief regulatory officer Selvarany Rasiah said there was currently no policy on Bursa Malaysia to de-list penny stocks or securities that are trading below certain price levels.
“The present de-listing criteria are not based on price but on major non-compliance on the listed companies’ part with the Listing Requirements,'' she told StarBiz.
“The three listed issuers named are classified under PN17 and GN3 as the case may be, as having poor financial condition.”
Selvarany added that Bursa would continue to monitor developments domestically and internationally.
“Changes and improvements to the rules will be made as and when necessary, to keep pace with the changing market environment,” she added.
At present, Bursa has set several criteria and parameters, which if triggered, may result in the de-listing of a listed company.
These include failure to comply with specific rules stipulated in PN17/GN3 and PN16/GN2 (Cash Companies), and undercapitalised companies that have paid-up capital that is below the prescribed minimum paid-up capital of the respective boards.
Companies that fail to issue financial statements or other major non-compliance with the Listing Requirements may also trigger action to de-list.
Aseambankers Equity Research head Vincent Khoo told StarBiz he was not in favour of a de-listing criteria based on price or trading volume.
“It should be a matter of not meeting certain financial benchmarks and management (behaviour),” he said, adding that he personally felt that it was more up to the company rather than an issue of regulation.
“Since they are already trading on the exchange, it should really be up to the company directors to weigh the high cost of maintaining a listing versus the benefit, which is not so much if the share does not perform,” he added.
KSC Capital director of research Choong Khuat Hock said while it was true that there were price trading rules in the US market, a low trading price in Malaysia might not be a reflection of lower quality.
“They (Malaysian companies) are very clever in making share splits and bonus issues etc. which bring down the trading price.
“There is a perception here that with a lower share price, there is more interest in the stock,” he said.
Choong said when the market fell, many counters would inevitably trade below 10 sen per share, which might not necessarily reflect lower stock quality.
Some retail investors believe counters with low share price and lacklustre trading should be de-listed.
PETALING JAYA: Trading volume in a number of lower liners has risen, with penny stocks such as Pilecon Engineering Bhd, PECD Bhd and Mesdaq-listed Wimems Corp Bhd now suspended from trading, having been heavily sold down to below 10 sen per share.
The feeling among some retail investors is that counters with low share price and lacklustre trading should be de-listed.
Apparently, the New York Stock Exchange (NYSE) has a “quantitative continued listed standard” rule to make it possible to de-list a stock that is trading below US$1 for 30 consecutive trading days.
So why not on the local bourse?
Bursa Malaysia Bhd chief regulatory officer Selvarany Rasiah said there was currently no policy on Bursa Malaysia to de-list penny stocks or securities that are trading below certain price levels.
“The present de-listing criteria are not based on price but on major non-compliance on the listed companies’ part with the Listing Requirements,'' she told StarBiz.
“The three listed issuers named are classified under PN17 and GN3 as the case may be, as having poor financial condition.”
Selvarany added that Bursa would continue to monitor developments domestically and internationally.
“Changes and improvements to the rules will be made as and when necessary, to keep pace with the changing market environment,” she added.
At present, Bursa has set several criteria and parameters, which if triggered, may result in the de-listing of a listed company.
These include failure to comply with specific rules stipulated in PN17/GN3 and PN16/GN2 (Cash Companies), and undercapitalised companies that have paid-up capital that is below the prescribed minimum paid-up capital of the respective boards.
Companies that fail to issue financial statements or other major non-compliance with the Listing Requirements may also trigger action to de-list.
Aseambankers Equity Research head Vincent Khoo told StarBiz he was not in favour of a de-listing criteria based on price or trading volume.
“It should be a matter of not meeting certain financial benchmarks and management (behaviour),” he said, adding that he personally felt that it was more up to the company rather than an issue of regulation.
“Since they are already trading on the exchange, it should really be up to the company directors to weigh the high cost of maintaining a listing versus the benefit, which is not so much if the share does not perform,” he added.
KSC Capital director of research Choong Khuat Hock said while it was true that there were price trading rules in the US market, a low trading price in Malaysia might not be a reflection of lower quality.
“They (Malaysian companies) are very clever in making share splits and bonus issues etc. which bring down the trading price.
“There is a perception here that with a lower share price, there is more interest in the stock,” he said.
Choong said when the market fell, many counters would inevitably trade below 10 sen per share, which might not necessarily reflect lower stock quality.
Balkis' accounts not finalised before funds transferred out
By DHARMENDER SINGH
KLANG: The external auditors for the Wives of Selangor Assemblymen and MPs Welfare and Charity Organisation (Balkis) said yesterday they were not consulted before the body transferred its RM9.9mil funds.
Yee Choon Kong & Co principal Yee Choon Kong said the firm was never consulted by Balkis president Datin Seri Zahrah Kechik, its executive committee members or former Mentri Besar Datuk Seri Dr Mohd Khir Toyo prior to the transfer.
He said the organisation’s financial statements remained unaudited till now and the firm had not issued a signed Audit Report on Balkis’ conduct and financial affairs for the financial year ending Dec 31, 2007.
“My firm had on a number of occasions called the organisation’s treasurer Datin Suraimi Sapuan to send the financial records including bank statements, official receipt books, payment vouchers, supporting documents, fixed deposit receipts, minutes of meetings and the details of membership and subscription for 2007,” he said in a statement yesterday.
He said Balkis ignored the requests, adding that contrary to press reports, the accounts had not been finalised before the funds were transferred out.
Yee was commenting on a recent statement by Dr Khir that Balkis had consulted its auditors and legal advisors before transferring the funds to the Association of Wives of Ministers and Deputy Ministers (Bakti) and there was no “hanky panky” involved.
Balkis has come under fire from the Selangor Government over its controversial dissolution and the transfer of RM9.9mil from its coffers several days after Pakatan Rakyat came into power.
Yee said the firm was appointed as Balkis’ external auditor at the body’s last AGM held on June 30, 2007, in accordance with its constitution which required an external auditor licensed by the Finance Ministry to be appointed as its statutory auditor.
He added that he had no knowledge if a new auditor was hired by the body but pointed out that the law stipulated that any new firm hired was obliged to seek the reasons for the change from the previously hired firm.
Yee said the company had not received any such enquiry.
Selangor senior executive councillor Teresa Kok also questioned the validity of the Balkis emergency meeting on March 11.
She said Clause 12(c) of the Balkis constitution stipulated that the secretary must issue letters to members at least 14 days before holding the meeting.
“As the meeting was held on March 11, then the letters must have been sent out towards the end of February, which seems quite impossible as it was election campaigning time,” said Kok.
-------------------------------------------------------------------------------------
Penang goes Balkis’ way
by R. Nadeswaran and Terence Fernandez
PETALING JAYA: Penang has joined the ranks of Selangor – transferring money from the wives’ association for “safekeeping” with Bakti, the federal Association of Wives of Ministers and Deputy Ministers.
Although the amount is small compared to the RM9.9 million which was transferred by the Association of Wives of State Assemblymen and Members of Parliament in Selangor (Balkis), its Penang equivalent – Bunga Tanjung – could only spare RM350,000. But it’s the principle involved.
In an immediate response, Penang Chief Minister Lim Guan Eng said he was shocked by the turn of events and asked for the relevant documents, adding that the state government was seeking legal advice.
“This is a charitable organisation and not a Barisan Nasional organisation or a sendirian berhad. I want Bakti to return the money as soon as possible plus interests. After all, it is in an interest-earning fixed deposit account,” he told theSun.
The minutes of a Bakti council meeting, a copy of which was obtained by theSun, among others, say: With the formation of Opposition State Governments in Penang and Selangor, action has been taken to dissolve the associations to prevent them from being taken over as the constitution would allow for the wife of the chief minister to become the Yang Di Pertua of the association. They are now in the midst of registering a new association although keeping the same name but limiting membership to wives of BN leaders.
The minutes go on to say that Bakti had been approached by Bunga Tanjung and Balkis to assist them to receive and manage their funds for their welfare activities in the interim period.
According to the minutes, Bakti, will hold these monies which can be utilised for welfare activities in Penang and Selangor accordingly. After the formation of the new associations, Bakti will transfer these funds to the respective bodies.
However, another portion of the minutes says: Pending the formation of the new associations, the monies transferred to Bakti will be disbursed to the respective associations but in accordance with Bakti’s constitution for welfare programmes in Penang and Selangor.
The minutes also state that “these matters have been discussed and cleared with Dato’ Helilah Yusof, Bakti’s legal adviser”. A three-page enclosure dated April 7 ended with the initials “HY”.
The enclosure, among others, states: Pending the formation of a new society that will be a successor to the now dissolved Balkis, the following is agreed to:
» A letter of undertaking will be executed to provide a framework of assistance between Bakti on one part and the remaining three office-bearers of Balkis (being the Trustees).
» While the establishment of a new society is still pending there arises an urgent project which relates to the upkeep and maintenance of a hostel for youths who are at the age of 17 and below. These are youths who face various forms of social problems. The hostel is still being actively operated and hence there arises an exigency of a situation where some expenditure requires to be disbursed and in particular certain amounts are already due to be paid or overdue.
» It is considered that the aforementioned hostel falls into the category of scheme that is suitable for adoption by Bakti and its project pendidikan as a project khas. Upon adoption of such a project, all related expenses towards the project could be financed from the fund itself by Bakti.
The enclosure concludes: “It is also the understanding that is to be incorporated in the above-mentioned letter of understanding that the fund will be duly returned to the new society that is to succeed Balkis once it is formally constituted."
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Penang to probe financial records of wives club, too
Source: The Star
PENANG: The state government has ordered its state financial officer to look into the status of Persatuan Bunga Tanjung, the association for former Barisan National state assemblymen wives, and its financial records.
Chief Minister Lim Guan Eng said he had asked Datuk Supiah Md Yusof to report back to him his findings.
Former chief minister Tan Sri Koh Tsu Koon’s wife, Puan Sri Chui Kah Peng, headed Bunga Tanjung.
It is understood the former officer bearers of the association have yet to vacate their seats even though the new state government took over the administration of the state last month. The wives of the DAP state assemblymen have yet to take over the membership of the organisation.
A source said Bunga Tanjung has about RM250,000 in its bank account.
Attempts to get the several wives of the former Barisan state assemblymen failed while DAP assemblymen refused to comment on the status of the association or the membership of their wives.
In Alor Star, the Wives of Kedah Assemblymen and Parliamentarians Welfare Body (Bidara) just has a token sum in its coffers, according to Bidara president Datin Seri Noraini Abdullah. She said funds were usually disbursed immediately after a fund-raising campaign.
“We do not accumulate funds. We hold fundraisers as and when the need arises. Usually in a year, we choose 10 charitable organisations and orphanages.
“We also give aid to needy handicapped people and hardcore poor folks. But we do not give aid to the same people year after year. We give aid to different groups of people each year,” she said yesterday.
She said that Bidara would continue to operate as usual, although Kedah was now under the Pakatan Rakyat Government.
Bidara is a non-governmental organisation that would continue to be under the control of the wives of present and past Barisan National elected representatives, she said.
Noraini also said Bidara was not giving up its RM300,000 premises at Jalan Sultanah.
“That premises is Bidara property. We do not see why we cannot continue operating from there.”
State executive councillor Amiruddin Hamzah said that wives of Pakatan Rakyat elected representatives might set up a similar body if it was legally not possible to take over Bidara.
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Neither law nor ethics in mind
by R. Nadeswaran
If in March 2007 I had "temporarily transferred" the LawCare Fund out, to ensure that the money would be spent for the welfare purposes intended, and because I was unsure whether (Datuk) Ambiga (Sreenivasan) might remove some of the names from the list of recipients, I would be (and should be) struck off by now. My face will also not suffer from dry skin, because people will spit at me wherever I go. Carry on insulting the intelligence of the people, if you must.
- Yeo Yang Poh (former President of the Bar Council)
THE above response to theSun’s front page report on the transfer of funds from Balkis to Bakti appeared in the Bar Council’s website last week. It puts the whole issue into context. In a nutshell, the movement of money from one account to another is illegal and the council has been quoted in The Star as saying that this could tantamount to criminal breach of trust.
But the spin doctors and certain sections of the media who are beholden to individuals and not the truth have joined the bandwagon in an attempt to exonerate Datin Seri Zaharah Kechik, the beleaguered wife of former Mentri Besar, Datuk Seri Dr Mohamad Khir Toyo from any wrongdoing.
However one looks at it, the whole exercise appears to have been carried out hastily without cognisance of law and procedure; ethics and morals and above all, common sense.
Donations to Balkis are exempt from tax, a privilege that is enjoyed by a select few and the all-important criteria is: the exemption is given ONLY for non-political bodies. Therefore, Balkis, in the eyes of the law, is apolitical although its membership is made of elected women wakil rakyat and in the case of men, their wives. There is a category for associate members, restricted to women who had been politicians or whose husbands had been elected wakil rakyat. They have no voting rights. Therefore, the issue of it being an exclusive "Barisan Nasional" club does not arise and ad-hoc decisions cannot be made by Zaharah, whose position as president is by virtue of being the Mentri Besar’s wife.
The issue that comes into question is the dissolution of Balkis. Zaharah, in her capacity as the former president (emphasis is the writer’s), has no power of dissolution. According the Balkis’ constitution, it can only be dissolved by two-thirds of the members at a special meeting convened at the request of at least one-fifth of "ordinary members".
The constitution is clear on such special meetings and it states it must be held within 30 days of receiving notice of such a requisition. It goes on to say that the notice and agenda of the meeting must be sent out by the secretary to members giving them 14 days’ notice.
Let’s work backwards. If the meeting was held on March 11, the notice must have been given on Feb 25 – at the latest. But her husband, then the Mentri Besar, was going around campaigning on the lines of "Zero Opposition in Selangor"! Did Zaharah get a written requisition from one-fifth of the members on Feb 11 – when Parliament was not even dissolved? Unless of course, some wives knew that their husbands won’t be occupying the seats of power!
Therefore, in short, this whole exercise of dissolution is void because procedures were not followed. This has been confirmed by the Registrar of Societies, who in his letter dated April 14 to the (new) Selangor Mentri Besar, says: "After going through the application to dissolve Balkis, we discovered that the information provided is incomplete. I have sent a letter asking Balkis to provide additional information within 30 days."
So, legally, Balkis is not dissolved. Therefore, no individual or factions can take it upon herself or themselves to transfer any monies to any other person or organisation.
Even if they had the power, they have defied their own constitution which states that upon dissolution, all monies should be donated to the government or a similar fund approved by the Inland Revenue Board (IRB). So, the inevitable question is: When was an application made to the IRB and if given the go ahead, when did it come?
Again, on March 11, Zaharah was no longer the president. There’s no such thing as "caretaker president" in its constitution. The only consolation she can take is that she can apply for associate member which does not come with voting rights, which she has not done to date.
But Bakti, the national body, cannot be absolved of blame for this shameful episode. How could it have accepted the money and held it in a separate account without checking if Balkis’s dissolution had been carried out in accordance with the law?
According to documents sighted by theSun, a sitting judge credited as "Bakti’s legal advisor" opined that it is all right. But Datuk Param Cumaraswamy, the former United Nations Special Rapporteur on the Independence of Judges and Lawyer said that the judge’s conduct was "likely to cause a reasonable suspicion that the judge allowed his private interests to come into conflict with his judicial duties, which could amount to a breach of the Judge’s Code of Ethics 1994".
Do remember, two wrongs don’t make a right.
And by the way, Mr Yeo, a lot of people are not yet walking around with wet skin!
KLANG: The external auditors for the Wives of Selangor Assemblymen and MPs Welfare and Charity Organisation (Balkis) said yesterday they were not consulted before the body transferred its RM9.9mil funds.
Yee Choon Kong & Co principal Yee Choon Kong said the firm was never consulted by Balkis president Datin Seri Zahrah Kechik, its executive committee members or former Mentri Besar Datuk Seri Dr Mohd Khir Toyo prior to the transfer.
He said the organisation’s financial statements remained unaudited till now and the firm had not issued a signed Audit Report on Balkis’ conduct and financial affairs for the financial year ending Dec 31, 2007.
“My firm had on a number of occasions called the organisation’s treasurer Datin Suraimi Sapuan to send the financial records including bank statements, official receipt books, payment vouchers, supporting documents, fixed deposit receipts, minutes of meetings and the details of membership and subscription for 2007,” he said in a statement yesterday.
He said Balkis ignored the requests, adding that contrary to press reports, the accounts had not been finalised before the funds were transferred out.
Yee was commenting on a recent statement by Dr Khir that Balkis had consulted its auditors and legal advisors before transferring the funds to the Association of Wives of Ministers and Deputy Ministers (Bakti) and there was no “hanky panky” involved.
Balkis has come under fire from the Selangor Government over its controversial dissolution and the transfer of RM9.9mil from its coffers several days after Pakatan Rakyat came into power.
Yee said the firm was appointed as Balkis’ external auditor at the body’s last AGM held on June 30, 2007, in accordance with its constitution which required an external auditor licensed by the Finance Ministry to be appointed as its statutory auditor.
He added that he had no knowledge if a new auditor was hired by the body but pointed out that the law stipulated that any new firm hired was obliged to seek the reasons for the change from the previously hired firm.
Yee said the company had not received any such enquiry.
Selangor senior executive councillor Teresa Kok also questioned the validity of the Balkis emergency meeting on March 11.
She said Clause 12(c) of the Balkis constitution stipulated that the secretary must issue letters to members at least 14 days before holding the meeting.
“As the meeting was held on March 11, then the letters must have been sent out towards the end of February, which seems quite impossible as it was election campaigning time,” said Kok.
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Penang goes Balkis’ way
by R. Nadeswaran and Terence Fernandez
PETALING JAYA: Penang has joined the ranks of Selangor – transferring money from the wives’ association for “safekeeping” with Bakti, the federal Association of Wives of Ministers and Deputy Ministers.
Although the amount is small compared to the RM9.9 million which was transferred by the Association of Wives of State Assemblymen and Members of Parliament in Selangor (Balkis), its Penang equivalent – Bunga Tanjung – could only spare RM350,000. But it’s the principle involved.
In an immediate response, Penang Chief Minister Lim Guan Eng said he was shocked by the turn of events and asked for the relevant documents, adding that the state government was seeking legal advice.
“This is a charitable organisation and not a Barisan Nasional organisation or a sendirian berhad. I want Bakti to return the money as soon as possible plus interests. After all, it is in an interest-earning fixed deposit account,” he told theSun.
The minutes of a Bakti council meeting, a copy of which was obtained by theSun, among others, say: With the formation of Opposition State Governments in Penang and Selangor, action has been taken to dissolve the associations to prevent them from being taken over as the constitution would allow for the wife of the chief minister to become the Yang Di Pertua of the association. They are now in the midst of registering a new association although keeping the same name but limiting membership to wives of BN leaders.
The minutes go on to say that Bakti had been approached by Bunga Tanjung and Balkis to assist them to receive and manage their funds for their welfare activities in the interim period.
According to the minutes, Bakti, will hold these monies which can be utilised for welfare activities in Penang and Selangor accordingly. After the formation of the new associations, Bakti will transfer these funds to the respective bodies.
However, another portion of the minutes says: Pending the formation of the new associations, the monies transferred to Bakti will be disbursed to the respective associations but in accordance with Bakti’s constitution for welfare programmes in Penang and Selangor.
The minutes also state that “these matters have been discussed and cleared with Dato’ Helilah Yusof, Bakti’s legal adviser”. A three-page enclosure dated April 7 ended with the initials “HY”.
The enclosure, among others, states: Pending the formation of a new society that will be a successor to the now dissolved Balkis, the following is agreed to:
» A letter of undertaking will be executed to provide a framework of assistance between Bakti on one part and the remaining three office-bearers of Balkis (being the Trustees).
» While the establishment of a new society is still pending there arises an urgent project which relates to the upkeep and maintenance of a hostel for youths who are at the age of 17 and below. These are youths who face various forms of social problems. The hostel is still being actively operated and hence there arises an exigency of a situation where some expenditure requires to be disbursed and in particular certain amounts are already due to be paid or overdue.
» It is considered that the aforementioned hostel falls into the category of scheme that is suitable for adoption by Bakti and its project pendidikan as a project khas. Upon adoption of such a project, all related expenses towards the project could be financed from the fund itself by Bakti.
The enclosure concludes: “It is also the understanding that is to be incorporated in the above-mentioned letter of understanding that the fund will be duly returned to the new society that is to succeed Balkis once it is formally constituted."
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Penang to probe financial records of wives club, too
Source: The Star
PENANG: The state government has ordered its state financial officer to look into the status of Persatuan Bunga Tanjung, the association for former Barisan National state assemblymen wives, and its financial records.
Chief Minister Lim Guan Eng said he had asked Datuk Supiah Md Yusof to report back to him his findings.
Former chief minister Tan Sri Koh Tsu Koon’s wife, Puan Sri Chui Kah Peng, headed Bunga Tanjung.
It is understood the former officer bearers of the association have yet to vacate their seats even though the new state government took over the administration of the state last month. The wives of the DAP state assemblymen have yet to take over the membership of the organisation.
A source said Bunga Tanjung has about RM250,000 in its bank account.
Attempts to get the several wives of the former Barisan state assemblymen failed while DAP assemblymen refused to comment on the status of the association or the membership of their wives.
In Alor Star, the Wives of Kedah Assemblymen and Parliamentarians Welfare Body (Bidara) just has a token sum in its coffers, according to Bidara president Datin Seri Noraini Abdullah. She said funds were usually disbursed immediately after a fund-raising campaign.
“We do not accumulate funds. We hold fundraisers as and when the need arises. Usually in a year, we choose 10 charitable organisations and orphanages.
“We also give aid to needy handicapped people and hardcore poor folks. But we do not give aid to the same people year after year. We give aid to different groups of people each year,” she said yesterday.
She said that Bidara would continue to operate as usual, although Kedah was now under the Pakatan Rakyat Government.
Bidara is a non-governmental organisation that would continue to be under the control of the wives of present and past Barisan National elected representatives, she said.
Noraini also said Bidara was not giving up its RM300,000 premises at Jalan Sultanah.
“That premises is Bidara property. We do not see why we cannot continue operating from there.”
State executive councillor Amiruddin Hamzah said that wives of Pakatan Rakyat elected representatives might set up a similar body if it was legally not possible to take over Bidara.
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Neither law nor ethics in mind
by R. Nadeswaran
If in March 2007 I had "temporarily transferred" the LawCare Fund out, to ensure that the money would be spent for the welfare purposes intended, and because I was unsure whether (Datuk) Ambiga (Sreenivasan) might remove some of the names from the list of recipients, I would be (and should be) struck off by now. My face will also not suffer from dry skin, because people will spit at me wherever I go. Carry on insulting the intelligence of the people, if you must.
- Yeo Yang Poh (former President of the Bar Council)
THE above response to theSun’s front page report on the transfer of funds from Balkis to Bakti appeared in the Bar Council’s website last week. It puts the whole issue into context. In a nutshell, the movement of money from one account to another is illegal and the council has been quoted in The Star as saying that this could tantamount to criminal breach of trust.
But the spin doctors and certain sections of the media who are beholden to individuals and not the truth have joined the bandwagon in an attempt to exonerate Datin Seri Zaharah Kechik, the beleaguered wife of former Mentri Besar, Datuk Seri Dr Mohamad Khir Toyo from any wrongdoing.
However one looks at it, the whole exercise appears to have been carried out hastily without cognisance of law and procedure; ethics and morals and above all, common sense.
Donations to Balkis are exempt from tax, a privilege that is enjoyed by a select few and the all-important criteria is: the exemption is given ONLY for non-political bodies. Therefore, Balkis, in the eyes of the law, is apolitical although its membership is made of elected women wakil rakyat and in the case of men, their wives. There is a category for associate members, restricted to women who had been politicians or whose husbands had been elected wakil rakyat. They have no voting rights. Therefore, the issue of it being an exclusive "Barisan Nasional" club does not arise and ad-hoc decisions cannot be made by Zaharah, whose position as president is by virtue of being the Mentri Besar’s wife.
The issue that comes into question is the dissolution of Balkis. Zaharah, in her capacity as the former president (emphasis is the writer’s), has no power of dissolution. According the Balkis’ constitution, it can only be dissolved by two-thirds of the members at a special meeting convened at the request of at least one-fifth of "ordinary members".
The constitution is clear on such special meetings and it states it must be held within 30 days of receiving notice of such a requisition. It goes on to say that the notice and agenda of the meeting must be sent out by the secretary to members giving them 14 days’ notice.
Let’s work backwards. If the meeting was held on March 11, the notice must have been given on Feb 25 – at the latest. But her husband, then the Mentri Besar, was going around campaigning on the lines of "Zero Opposition in Selangor"! Did Zaharah get a written requisition from one-fifth of the members on Feb 11 – when Parliament was not even dissolved? Unless of course, some wives knew that their husbands won’t be occupying the seats of power!
Therefore, in short, this whole exercise of dissolution is void because procedures were not followed. This has been confirmed by the Registrar of Societies, who in his letter dated April 14 to the (new) Selangor Mentri Besar, says: "After going through the application to dissolve Balkis, we discovered that the information provided is incomplete. I have sent a letter asking Balkis to provide additional information within 30 days."
So, legally, Balkis is not dissolved. Therefore, no individual or factions can take it upon herself or themselves to transfer any monies to any other person or organisation.
Even if they had the power, they have defied their own constitution which states that upon dissolution, all monies should be donated to the government or a similar fund approved by the Inland Revenue Board (IRB). So, the inevitable question is: When was an application made to the IRB and if given the go ahead, when did it come?
Again, on March 11, Zaharah was no longer the president. There’s no such thing as "caretaker president" in its constitution. The only consolation she can take is that she can apply for associate member which does not come with voting rights, which she has not done to date.
But Bakti, the national body, cannot be absolved of blame for this shameful episode. How could it have accepted the money and held it in a separate account without checking if Balkis’s dissolution had been carried out in accordance with the law?
According to documents sighted by theSun, a sitting judge credited as "Bakti’s legal advisor" opined that it is all right. But Datuk Param Cumaraswamy, the former United Nations Special Rapporteur on the Independence of Judges and Lawyer said that the judge’s conduct was "likely to cause a reasonable suspicion that the judge allowed his private interests to come into conflict with his judicial duties, which could amount to a breach of the Judge’s Code of Ethics 1994".
Do remember, two wrongs don’t make a right.
And by the way, Mr Yeo, a lot of people are not yet walking around with wet skin!
Globe-trotting VIP wives
OVERSEAS JAUNTS AMONG ‘ANNUAL ACTIVITIES’ OF ASSOCIATION OF SELANGOR ELECTED REPS’ SPOUSES
by R. Nadeswaran and Terence Fernandez
PETALING JAYA: While their husbands went on lawatan sambil belajar, the wives were not to be outdone. Shopping trips, overseas junkets and lavish functions have been the hallmark of activities of Balkis – Association of Wives of State Assemblymen and Members of Parliament in Selangor.
Nothing wrong with the junkets, except that their excesses were paid for by the state government and private donors, who contributed money in the belief that it was going to good causes.
Attempts to get an insight into its operations have come to naught – newly appointed state executive councillors Teresa Kok and Elizabeth Wong who had gone to the Balkis secretariat to seek information and collect files were refused entry. Staff had been “instructed” not to allow access to the office.
While Balkis has done its bit for the less fortunate – its most visible contribution being the setting up of Kompleks Wawasan Balkis (KWB) its RM5 million secretariat which doubles as a women’s shelter in Shah Alam – some of its programmes raise the question if Balkis’ philanthropy is a façade for a group of VIPs to enjoy themselves at the expense of generous donors who included state government subsidiaries.
In the eight years that Datuk Seri Dr Mohamad Khir Toyo has been mentri besar, his wife and Balkis president Datin Seri Zaharah Kechik (above) has led delegations to Europe, Hongkong and Australia.
According to sources in the state government, these trips were listed as among Balkis’ annual activities but had nothing to do with charity.
Balkis’ accounts have never been made public and no one is sure if they too had suffered the same fate as other documents – shredded and destroyed after Barisan Nasional (BN)’s rule in Selangor ended on March 8.
But the extravagance of Balkis has been laid bare by the Selangor State Development Corporation (PKNS) which said that it gave RM218,719.60 for KWB’s opening ceremony. It also revealed that 43,560 sq ft of land for the construction of KWB was given to Balkis at an undervalued RM250,000 – a contra deal to offset a loan between PKNS and the state government.
Private donors included the Sunway Group and LBS Bina Sdn Bhd. Other state government subsidiaries which contributed to Balkis included Kumpulan Darul Ehsan Berhad which gave RM268,862.
According to an official at one of the subsidiaries, there were regular requests from Balkis for financial contributions.
Balkis has been in the news since last Friday when theSun front-paged a report that its previous executive committee headed by Zaharah had transferred Balkis’ RM9.9 million to Bakti – the federal Organisation of Wives of Ministers – three days after Selangor fell to the Opposition in the general election. The previous executive committee also tried to dissolve the association and set up a new body – Balkis-BN.
The newly-elected Pakatan Rakyat state government is demanding the return
of the money, saying these actions were illegal. The Registrar of Societies has yet to approve Balkis’ dissolution and has asked for additional information from Zaharah’s administration.
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‘Balkis dissolved according to rules’
SHAH ALAM: The wife of former Selangor mentri besar, Datin Seri Zaharah Kechik, said yesterday that the dissolution of the Wives of Selangor Assemblymen and MPs Welfare and Charity Organisation (Balkis) was according to its constitution.
The dissolution took place on March 11 before Tan Sri Abdul Khalid Ibrahim was sworn in as mentri besar on March 13, she told a press conference.
“It means, I was the president at the time and had not relinquished the president’s post. Therefore, the question of me not having the power to chair the meeting called for the purpose of Balkis’ dissolution does not arise.”
According to Bernama, she said Balkis was dissolved with the consent of over two-thirds of its ordinary members during the extraordinary general meeting which was called by more than one-fifth of its ordinary members.
“The EGM and Balkis’ dissolution were in line with Article 15(1) and 12 of Balkis Constitution and minutes of the meeting can confirm that all legal provisions have been complied with.”
Following the dissolution, Balkis’ funds totalling RM9.9 million were transferred to the Wives of Ministers Welfare and Charity Organisation (Bakti) according to Article 15(2) of Balkis Constitution, Zaharah said.
She hoped that with the explanation, no one would make baseless accusations and slander. Legal action would be taken if they did, she said.
On Saturday, Khalid requested for Balkis’ dissolution to be withdrawn and the RM9.9 million transferred to Bakti to be returned.
Zaharah said that under Article 8 of Balkis constitution, the organisation could receive contributions from the government and government-linked companies.
“When Balkis received a contribution, it became Balkis’. Therefore, the question of the money being channelled out or returned to the government or any government-linked companies does not arise,” she said.
Datuk Seri Dr Mohamad Khir Toyo, who was present at the press conference, said the state government should talk to the legal firm appointed by Balkis, Sallehudin & Co, if it was not satisfied with the issue.
“They are trying to politicise the issue and do not read Balkis constitution correctly,” he said.
He said the RM9.9 million was donated specially for students adopted by Balkis and it was transferred straight to Bakti following Balkis’ dissolution and Bakti gave a written reply that it had received the money.
A newspaper report which said the money went to the account of a third party before it was transferred to Bakti was incorrect, he said.
by R. Nadeswaran and Terence Fernandez
PETALING JAYA: While their husbands went on lawatan sambil belajar, the wives were not to be outdone. Shopping trips, overseas junkets and lavish functions have been the hallmark of activities of Balkis – Association of Wives of State Assemblymen and Members of Parliament in Selangor.
Nothing wrong with the junkets, except that their excesses were paid for by the state government and private donors, who contributed money in the belief that it was going to good causes.
Attempts to get an insight into its operations have come to naught – newly appointed state executive councillors Teresa Kok and Elizabeth Wong who had gone to the Balkis secretariat to seek information and collect files were refused entry. Staff had been “instructed” not to allow access to the office.
While Balkis has done its bit for the less fortunate – its most visible contribution being the setting up of Kompleks Wawasan Balkis (KWB) its RM5 million secretariat which doubles as a women’s shelter in Shah Alam – some of its programmes raise the question if Balkis’ philanthropy is a façade for a group of VIPs to enjoy themselves at the expense of generous donors who included state government subsidiaries.
In the eight years that Datuk Seri Dr Mohamad Khir Toyo has been mentri besar, his wife and Balkis president Datin Seri Zaharah Kechik (above) has led delegations to Europe, Hongkong and Australia.
According to sources in the state government, these trips were listed as among Balkis’ annual activities but had nothing to do with charity.
Balkis’ accounts have never been made public and no one is sure if they too had suffered the same fate as other documents – shredded and destroyed after Barisan Nasional (BN)’s rule in Selangor ended on March 8.
But the extravagance of Balkis has been laid bare by the Selangor State Development Corporation (PKNS) which said that it gave RM218,719.60 for KWB’s opening ceremony. It also revealed that 43,560 sq ft of land for the construction of KWB was given to Balkis at an undervalued RM250,000 – a contra deal to offset a loan between PKNS and the state government.
Private donors included the Sunway Group and LBS Bina Sdn Bhd. Other state government subsidiaries which contributed to Balkis included Kumpulan Darul Ehsan Berhad which gave RM268,862.
According to an official at one of the subsidiaries, there were regular requests from Balkis for financial contributions.
Balkis has been in the news since last Friday when theSun front-paged a report that its previous executive committee headed by Zaharah had transferred Balkis’ RM9.9 million to Bakti – the federal Organisation of Wives of Ministers – three days after Selangor fell to the Opposition in the general election. The previous executive committee also tried to dissolve the association and set up a new body – Balkis-BN.
The newly-elected Pakatan Rakyat state government is demanding the return
of the money, saying these actions were illegal. The Registrar of Societies has yet to approve Balkis’ dissolution and has asked for additional information from Zaharah’s administration.
-------------------------------------------------------------------------------------
‘Balkis dissolved according to rules’
SHAH ALAM: The wife of former Selangor mentri besar, Datin Seri Zaharah Kechik, said yesterday that the dissolution of the Wives of Selangor Assemblymen and MPs Welfare and Charity Organisation (Balkis) was according to its constitution.
The dissolution took place on March 11 before Tan Sri Abdul Khalid Ibrahim was sworn in as mentri besar on March 13, she told a press conference.
“It means, I was the president at the time and had not relinquished the president’s post. Therefore, the question of me not having the power to chair the meeting called for the purpose of Balkis’ dissolution does not arise.”
According to Bernama, she said Balkis was dissolved with the consent of over two-thirds of its ordinary members during the extraordinary general meeting which was called by more than one-fifth of its ordinary members.
“The EGM and Balkis’ dissolution were in line with Article 15(1) and 12 of Balkis Constitution and minutes of the meeting can confirm that all legal provisions have been complied with.”
Following the dissolution, Balkis’ funds totalling RM9.9 million were transferred to the Wives of Ministers Welfare and Charity Organisation (Bakti) according to Article 15(2) of Balkis Constitution, Zaharah said.
She hoped that with the explanation, no one would make baseless accusations and slander. Legal action would be taken if they did, she said.
On Saturday, Khalid requested for Balkis’ dissolution to be withdrawn and the RM9.9 million transferred to Bakti to be returned.
Zaharah said that under Article 8 of Balkis constitution, the organisation could receive contributions from the government and government-linked companies.
“When Balkis received a contribution, it became Balkis’. Therefore, the question of the money being channelled out or returned to the government or any government-linked companies does not arise,” she said.
Datuk Seri Dr Mohamad Khir Toyo, who was present at the press conference, said the state government should talk to the legal firm appointed by Balkis, Sallehudin & Co, if it was not satisfied with the issue.
“They are trying to politicise the issue and do not read Balkis constitution correctly,” he said.
He said the RM9.9 million was donated specially for students adopted by Balkis and it was transferred straight to Bakti following Balkis’ dissolution and Bakti gave a written reply that it had received the money.
A newspaper report which said the money went to the account of a third party before it was transferred to Bakti was incorrect, he said.
Thursday, April 24, 2008
Rear Seat Belt Implementation
Wednesday April 9, 2008
Rear Seat Belts A Must Soon
By ROYCE CHEAH
PUTRAJAYA: The Road Safety Department will propose to the Government to allow a short grace period for motorists to get rear seatbelts installed and be “prepared mentally” before its implementation.
Department director-general Datuk Suret Singh said the rear seatbelt ruling would be enforced around the third quarter of this year.
“I feel we have given the public enough time to get ready,” he said, adding that the move for compulsory wearing of rear seatbelts did not need to be tabled in Parliament.
He said promotional activities encouraging the use of rear seatbelts had already taken place in the past year and it was time to move forward.
Previously, the Malaysian Institute for Road Safety Research said that more than 80% of cars had rear seatbelts installed.
Suret Singh also spoke about the department’s plans for the rest of the year and said emphasis would be on community-based programmes, such as the helmet-wearing initiatives, that were successfully implemented in 20 districts.
“This particular programme has been well documented and there is already a standard operating procedure so that we can implement it in any district in the country.”
Suret Singh said road safety education was taking off well in schools and now even included security personnel being trained as traffic wardens.
“It is an understanding we have with the company that the Education Ministry hires. They provide the security personnel and we train them as traffic wardens so that there is no need to hire extra people.”
Suret Singh said that by 2011, road safety education would have worked its way up to Form 4 students and that a whole new breed of motorists who took safety seriously would emerge as a result.
Friday April 11, 2008
Old Cars Should Be Given More Time To Fit Rear Seat Belt
By PAUL CHOO
KUALA LUMPUR: The Road Safety Department has proposed for private vehicles manufactured before 1995 be given more time to comply with the rear seat belt ruling, expected to be implemented over the next few months.
Its director-general Datuk Suret Singh said the suggestion would help ease the burden of those owning old vehicles from going through the hassle of fitting rear seat belts to comply with the ruling.
Various vehicles, depending on its model, do not come fitted with rear seat belts between the two years stated above. All vehicles after 1995 however, come with the amenity. Currently some 90% of vehicles on the road come fitted with rear safety belts.
"We encourage those with old vehicles to fit rear safety belts, and we are proposing for a three-year grace period for them to get it done.
"This is so that when the ruling is implemented they are not caught off guard as it would be unfair," he said during a press conference at the Sungai Besi toll plaza here on Friday after distributing stickers to motorists encouraging passengers to buckle up.
He added that his department is in talks with car manufacturers to help fit rear safety belts into old vehicles produced by them.
Suret Singh also said the department is proposing for a three-month grace period for enforcement officers to not issue summonses but let off offenders with just a warning.
"Once people start complying with the ruling, we estimate that the risk of heavy injuries or death can be reduced by 50%.
"This translates into saving around 350 lives per year based on last year's road accident studies carried out by the Malaysian Institute of Road Safety Research (Miros)," said Suret Singh.
Saturday April 26, 2008
Kancil, Kenari get exemption
By SIM LEOI LEOI
PUTRAJAYA: Perodua Kancil and Kenari cars manufactured between 1998 until mid-2004 will be exempted from the compulsory backseat belt rule when it comes into effect in June.
Road Safety Department director-general Datuk Suret Singh said this was because the models produced during this period did not have anchorage points for these seat belts.
“Some models that came out in the period between 2004 and 2005 have anchorage points but no rear seat belts.
“The department has proposed that Perodua offer special packages to owners of these Kancil and Kenari models to install rear seat belts.
“They have three years to do that,” he told reporters here yesterday.
Transport Minister Datuk Ong Tee Keat had announced that the Government would enforce the ruling requiring backseat passengers to wear safety belts beginning June.
However, no summonses will be given out until the end of August.
The ruling, which is only effective for cars registered after January 1995, is said to be able to prevent 350 road deaths a year.
Suret Singh also advised car owners whose vehicles were not fitted with rear seat belts not to have them installed at unauthorised workshops.
“They should instead go back to the car manufacturers. This is because retrofitting your cars with anchorage points for seat belts at these workshops may jeopardise the safety aspect of the cars and the passengers.
“This will not be money well spent. Some cars cannot be retrofitted with seat belts. That’s why the owners will have to refer to the manufacturers whether this can be done on their cars,” he said.
Suret Singh said that in cases where there were more than three backseat passengers, the person not wearing the seat belt would not be fined.
“This is because usually, there are only three seatbelts in the back seat. However, about 91% of the time, there are three or fewer passengers in the back,” he said, adding that police cars and Road Transport Department vehicles would also be required to have rear seat belts except in high-risk incidences.
The department, he added, would also carry out a campaign to promote the usage of baby and child car seats for children aged below 11 years.
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I'm just wondering why implementing on rear seat belts? Previously, there's implementation of 3rd brake lights, hands-free kits, etc. These accessories don’t come together as compulsory equipments. Does it effectively reduce the accident rates? Who really benefits from the implementation? Vehicle owners or manufacturers?
Would like to hear opinion from others regarding this issue.
Rear Seat Belts A Must Soon
By ROYCE CHEAH
PUTRAJAYA: The Road Safety Department will propose to the Government to allow a short grace period for motorists to get rear seatbelts installed and be “prepared mentally” before its implementation.
Department director-general Datuk Suret Singh said the rear seatbelt ruling would be enforced around the third quarter of this year.
“I feel we have given the public enough time to get ready,” he said, adding that the move for compulsory wearing of rear seatbelts did not need to be tabled in Parliament.
He said promotional activities encouraging the use of rear seatbelts had already taken place in the past year and it was time to move forward.
Previously, the Malaysian Institute for Road Safety Research said that more than 80% of cars had rear seatbelts installed.
Suret Singh also spoke about the department’s plans for the rest of the year and said emphasis would be on community-based programmes, such as the helmet-wearing initiatives, that were successfully implemented in 20 districts.
“This particular programme has been well documented and there is already a standard operating procedure so that we can implement it in any district in the country.”
Suret Singh said road safety education was taking off well in schools and now even included security personnel being trained as traffic wardens.
“It is an understanding we have with the company that the Education Ministry hires. They provide the security personnel and we train them as traffic wardens so that there is no need to hire extra people.”
Suret Singh said that by 2011, road safety education would have worked its way up to Form 4 students and that a whole new breed of motorists who took safety seriously would emerge as a result.
Friday April 11, 2008
Old Cars Should Be Given More Time To Fit Rear Seat Belt
By PAUL CHOO
KUALA LUMPUR: The Road Safety Department has proposed for private vehicles manufactured before 1995 be given more time to comply with the rear seat belt ruling, expected to be implemented over the next few months.
Its director-general Datuk Suret Singh said the suggestion would help ease the burden of those owning old vehicles from going through the hassle of fitting rear seat belts to comply with the ruling.
Various vehicles, depending on its model, do not come fitted with rear seat belts between the two years stated above. All vehicles after 1995 however, come with the amenity. Currently some 90% of vehicles on the road come fitted with rear safety belts.
"We encourage those with old vehicles to fit rear safety belts, and we are proposing for a three-year grace period for them to get it done.
"This is so that when the ruling is implemented they are not caught off guard as it would be unfair," he said during a press conference at the Sungai Besi toll plaza here on Friday after distributing stickers to motorists encouraging passengers to buckle up.
He added that his department is in talks with car manufacturers to help fit rear safety belts into old vehicles produced by them.
Suret Singh also said the department is proposing for a three-month grace period for enforcement officers to not issue summonses but let off offenders with just a warning.
"Once people start complying with the ruling, we estimate that the risk of heavy injuries or death can be reduced by 50%.
"This translates into saving around 350 lives per year based on last year's road accident studies carried out by the Malaysian Institute of Road Safety Research (Miros)," said Suret Singh.
Saturday April 26, 2008
Kancil, Kenari get exemption
By SIM LEOI LEOI
PUTRAJAYA: Perodua Kancil and Kenari cars manufactured between 1998 until mid-2004 will be exempted from the compulsory backseat belt rule when it comes into effect in June.
Road Safety Department director-general Datuk Suret Singh said this was because the models produced during this period did not have anchorage points for these seat belts.
“Some models that came out in the period between 2004 and 2005 have anchorage points but no rear seat belts.
“The department has proposed that Perodua offer special packages to owners of these Kancil and Kenari models to install rear seat belts.
“They have three years to do that,” he told reporters here yesterday.
Transport Minister Datuk Ong Tee Keat had announced that the Government would enforce the ruling requiring backseat passengers to wear safety belts beginning June.
However, no summonses will be given out until the end of August.
The ruling, which is only effective for cars registered after January 1995, is said to be able to prevent 350 road deaths a year.
Suret Singh also advised car owners whose vehicles were not fitted with rear seat belts not to have them installed at unauthorised workshops.
“They should instead go back to the car manufacturers. This is because retrofitting your cars with anchorage points for seat belts at these workshops may jeopardise the safety aspect of the cars and the passengers.
“This will not be money well spent. Some cars cannot be retrofitted with seat belts. That’s why the owners will have to refer to the manufacturers whether this can be done on their cars,” he said.
Suret Singh said that in cases where there were more than three backseat passengers, the person not wearing the seat belt would not be fined.
“This is because usually, there are only three seatbelts in the back seat. However, about 91% of the time, there are three or fewer passengers in the back,” he said, adding that police cars and Road Transport Department vehicles would also be required to have rear seat belts except in high-risk incidences.
The department, he added, would also carry out a campaign to promote the usage of baby and child car seats for children aged below 11 years.
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I'm just wondering why implementing on rear seat belts? Previously, there's implementation of 3rd brake lights, hands-free kits, etc. These accessories don’t come together as compulsory equipments. Does it effectively reduce the accident rates? Who really benefits from the implementation? Vehicle owners or manufacturers?
Would like to hear opinion from others regarding this issue.
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