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| Umno assembly: Lion fails to roar, but claws are out |
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Posted by: superadmin - 03-30-2021, 06:34 PM - Forum: Politics
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Umno’s 75th annual general assembly did not end with a bang. There was no sizzle, just some fizzle.
I had expected something new to come out of the assembly after all the buildup but, no, the delegates just confirmed some things we had already heard.
However, in confirming Umno’s stand on certain issues, the second general assembly since Umno lost power in 2018 brought clarity to the short-term direction it intends to pursue.
I say short-term because the debates were almost all about taking power again in the next general election. But this is not surprising because politics is about power, and Umno is like a lion craving to regain its position after losing leadership of the herd.
What were the main outcomes of the assembly? One, the party adopted a resolution to sever ties with Perikatan Nasional (PN). This wasn’t surprising as for months Umno leaders have been talking about it. It was just a formalisation of what everyone knew.
This is where, I think, the Umno leadership failed to act like a lion. Instead of leaping and taking down the prey at one go, it signalled its intention months in advance and announced it on Sunday. What Umno has done is simply give its political enemies time to prepare.
Why do you think PPBM chief Muhiyddin Yassin went to Sabah before the Umno assembly? To say “hi” to Sabahans?
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| Three-venue DAP national congress on June 20 |
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Posted by: superadmin - 03-30-2021, 03:34 PM - Forum: Politics
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KUALA LUMPUR: The DAP national congress will be held on June 20 in three places at once, its national organising secretary, Loke Siew Fook, said.
He said the party’s central executive committee (CEC) decided yesterday the congress will be held at three locations – Shah Alam, Kota Kinabalu and Kuching – simultaneously.
“This is to make it easier for delegates from Sabah and Sarawak to attend the congress in their respective states,” he said in a statement.
“In line with the requirements of the party’s constitution, official notice of the congress will be sent to all party branches 10 weeks prior to the congress date.”
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| If you’re so upset, just leave PN, Khalid tells Umno |
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Posted by: superadmin - 03-30-2021, 02:22 PM - Forum: Politics
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PETALING JAYA: Umno should not complain about the Perikatan Nasional-led government’s shortcomings, as it is the party keeping the government afloat, said former federal territories minister Khalid Abdul Samad.
The Shah Alam MP accused Umno of being complicit in a “conspiracy” to keep the government in power.
“Whether they like it or not, Umno is part of this conspiracy. Umno is in a position to bring down this government and bring in a more responsible government.
“They are behaving like the opposition, but they are the ones propping the government up.”
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| I won’t get equal protection if charge begins in sessions court, says Shahrir |
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Posted by: superadmin - 03-30-2021, 02:18 PM - Forum: Local News
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KUALA LUMPUR: Former Felda chairman Shahrir Abdul Samad, who is charged with failing to declare to the Inland Revenue Board (IRB) a sum of RM1 million received from Najib Razak, said he will be discriminated against if his trial begins in the sessions court.
The former Johor Bahru MP said Najib, his wife Rosmah Mansor and lawyer Muhammad Shafee Abdullah were charged in the lower court, but the prosecution had applied to have their trials moved to the High Court.
He was referring to Najib’s trial on seven counts of corruption involving RM42 million and 25 charges for abuse of power and money laundering over alleged 1MDB funds amounting to RM2.28 billion.
Rosmah is facing 12 counts of money laundering, involving about RM7 million and five counts for failing to declare her income to the IRB. Shafee has claimed trial to two counts of making false declarations to the IRB for not including the RM9.5 million in his tax filing for the 2013 and 2014.
Shahrir, in an affidavit filed to support an application to transfer his matter to the High Court, said his case was similar to Shafee’s. He made the application in August.
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| A little-known hedge fund caused widespread chaos on Wall Street |
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Posted by: superadmin - 03-30-2021, 11:04 AM - Forum: Business, Economy and Investment
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New York (CNN Business)The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage, secret derivatives and rock-bottom interest rates.
ViacomCBS (VIACA), Discovery (DISCA) and other media titans' stocks crashed Friday as Wall Street banks that lent to Archegos forced the firm to unwind its bets. The epic firesale wiped out more than half of Viacom's value last week alone.
Major banks face billions of dollars in losses from their exposure to Archegos. Both Credit Suisse (CS) and Nomura tumbled Monday after warning of significant hits to their earnings.
The most startling part about the tale of Archegos is that it is a firm that few people had ever heard of before this weekend. And yet in this era of easy money, Archegos was able to borrow so much that its failure created shockwaves large enough to ripple across Wall Street — and impact everyday Americans' retirement accounts.
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| After Umno’s diatribes, PAS president says don’t be rude to friends |
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Posted by: superadmin - 03-30-2021, 10:44 AM - Forum: Politics
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KUALA LUMPUR, March 30 — Datuk Seri Hadi Awang said political parties must not act aggressively towards their allies, after his PAS party came under veiled attack at the Umno general assembly last week.
In a Facebook post, the PAS president said he believed the main issue in the country was the disunity among ummah that his party was trying to remedy.
“Ummah here means both Muslims as well as non-Muslim who are not extremists. This is our agenda.
“Therefore, we should not be rude to our friends. Instead, we must build brotherly bonds and commitments. Let us not be the source of disunity. Be patient and make peace,” he said.
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| Analysts: Time for Perikatan sympathisers within Umno to choose which side their loya |
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Posted by: superadmin - 03-30-2021, 10:42 AM - Forum: Politics
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KUALA LUMPUR, March 30 — Umno leaders who have been supporting Perikatan Nasional (PN) and its leading party Bersatu, must now decide their next course of action as the party has unanimously decided not to cooperate with the ruling coalition in the coming 15th general election (GE15), political analysts said.
Senior fellow at the Singapore Institute of International Affairs Oh Ei Sun said the ‘big’ decision announced by Umno during its annual general meeting (AGM) over the weekend is now clear, leaving little room for PN friendly Umno members to manoeuvre.
Oh pointed out that just because party president Datuk Seri Ahmad Zahid Hamidi heeded the call by grassroots members to cut ties with Bersatu and PN, this does not necessarily translate into tacit support for the Bagan Datuk MP.
“I think the overwhelming grassroots sentiment is not in favour of aligning further with Bersatu, although this sentiment doesn’t necessarily translate to automatic support for Zahid. Umno would work with Bersatu only if their respective leadership roles in the ruling coalition are reversed.
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| Is Umno giving up on non-Malay vote with shariah move? |
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Posted by: superadmin - 03-30-2021, 10:36 AM - Forum: Politics
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PETALING JAYA: A political analyst sees Umno president Ahmad Zahid Hamidi’s promise to strengthen shariah laws as an indication that he does not care if his party loses non-Malay support as long as it can increase its share of Malay votes.
Jeniri Amir, a fellow with the National Council of Professors, said non-Muslims were bound to be offended by the remark Zahid made at the Umno general assembly, but acknowledged the probability that he was not concerned about that.
Zahid said his party would amend the Federal Constitution to give shariah laws more clout if it won two-thirds of parliament seats in the next election.
Jeniri told FMT he believed Zahid was trying to show that Umno was not any less Islamic than PAS.
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