Amin Shah booted from the Board of Bolton

Taken from The Malaysian Reserve (Thu, July 12 07)

"The majority of shareholders of property developer Bolton Bhd have voted against Tan Sri Amin Shah Omar Shah remaining a board member of the company. Chairman Datuk Mohamed Azman Yahya said 68% of the shareholders, reprsenting more than 140 million owners of the company sharesm decided to vote against the re-eletion of Amin Shah"

Among the bone of contentention mentioned in the news is the dissatisfaction over the lack of commitment of Amin Shah, by virtue of his poor attendance to the board meeting. With an almost 22% stake in the company, he is the single largest individual shareholder of the company. Without any more representation on the board, one wonders whether he will still retain the stake.

Lawsuits here and there..

First, Tan Sri Tajuddin Ramli was issued a summons for the recovery of RM500 million plus from a total of RM1 billion plus, being the amount loaned to him for the purchase of MAS. Then, Datuk Johari Abdul Ghani was being sued by KFC Holdings (M) Bhd for, among others, a 50% price increase in syrup cost from Permanis Sdn Bhd, which was claimed to be a breach of fiduciary duty as a director.

I can't even get a loan for RM100,000 without the bank as me to secure it with everything i own and here is someone who can get a RM1 billion loan.

50% increase in syrup cost and legal recourse ? Hmmm...

Mutual Seperation Scheme at MAS

The last time I did a Voluntary Seperation Scheme at my company, it cost me RM50,000 in total. It was done in two round, with the first costing me RM20,000.00 and the second one another RM30,000.00

When Malaysia Airlines announced their Mutual Seperation Scheme, it will cost them approximately RM800 million plus, with an estimated 3,000 to 5,000 staff involved. With between one to three months pay for each year of service, one off medical benefit payment, annual leave buy back, 12 month hospitalization benefit and complimentary ticket, it certainly was very much more attractive than what I offered.

The union leader was quoted on TV to be not very pleased with the offer, saying that they were requesting for total compensation of RM1.2 billion. However, he was quick to add that ".. ini sahaja yang syarikat mampu..."

Mergers and Acquisition...

Two Mega deal in a space of a few days..

Corporate Malaysia really rocks!

First was the MMC-Malakoff Rm9.3 billion deal that will see MMC acquiring all of Malakoff. Then you have Daikin's GO for OYL Industries, which resulted in Hong Leong pocketing a cool RM3.4 billion.

Bring it on!

On a more personal note...

I have a very big step recently...

Mum and dad wanted to meet my honey dearest so much and well, the best would be to invite her for dinner at my place..

... and it was a great success... I guess she charmed both of them.. seal of approval!

... and the next step...

Love ya baby!

National Automotive Policy... and me

Many people reacted differently to the just announced National Automotive Policy.... there were joy for those who are looking for new car... as prices began to drop drastically (some, not all though...) although within a few days, someone pointed out that with the increase in the financing rate, it somehow evens out for some people..

....as for me, my beloved Volvo dropped another RM5k-7k in value almost overnight... definitely, this car is for keeps...

PGL tM

No, its not PGL (trademark)...

Thanks to my honey dearest, I went to watch the much anticipated Puteri Gunung Ledang the Musical on sunday, Feb 19, 2006. With words going around that the show was totally sold out, it's amazing how she managed to get rather good seats (just a row below the VVIP, mind you!). Hats off to her... organizational skill par excellence. Dato' Wahid, please make sure you have her on your radar screen make sure she stays in your organization!

Anyway, before the show, we had dinner at Senja @ Asian Heritage Row. I had lunch once there and its not such bad place actually. We happened to be the only one there... ok enough about Senja...

About the actual PGL tM... well, it was amazing to see a local production on this scale. The show was equally long to the movie but the it was truly enjoyable!

Hats off Datin Seri Tiara Jacquelina!

Coffee...

I am actully writing this from Starbucks at Carrefour Subang Parade. Been a while since I last surfed the net from here eversince my office has streamyx with its own WiFi. The only :)

A new Beginning...

Alhamdulillah...

At exactly 3.47 pm, I received my first P.O. from our very first customer. Yes, after months of hard work for the new venture, it has finally taken off. Not as big as expected but significant just the same.

Integrity and Honesty...

NZANM totally screwed me and my staff today.

You said one thing and you instructed you lawyers to do otherwise.

You actually made one of my staff break down and cried.

Don't think I'll forgive and forget.

May not be now, may not be you directly... but I'll deal with you later...

Nice bungalow at the state capital you said ? Recently renovated... ? Hmmm...