Search This Blog

Friday, May 4, 2012

BN's Failure to Elevate SAS

SAPP Youth Secretary Stephen Gaimin has put the entire blame on the UMNO led-BN government for failure to elevate the SAS price to its original value, 14 years after the financial crisis in 1997-1998, though all the counters in BURSA and Unit Trusts price have recovered to its original value or higher.

Based on the latest reports, SAS price as of the 30th April 2012 remained at RM0.3187 (NAV per unit) as reported from Saham Sabah.


Datuk Dr. Yee Moh Chai has frequently praised his boss, Sabah Chief Minister in Sabah's best Chief Minister ever, which seems like he has forgotten the 55000 poor SAS investors
that caused plenty of hardship and nightmare, making them poorer or even bankrupt, when some of them took loans from banks and others, their life savings are still waiting for the present UMNO led-BN government to elevate the SAS price back to its original value. He used to be a hero and expert by championing about SAS issue when he was in the opposition but now pathetically has become only a puppet of UMNO.


Please bear in mind that there is no major financial crisis for the past 14 years after 1997-1998. BURSA indices has been surged from 279 points from 1997-1998 up to 1500+ points as at 30 April 2012 (Bursa Malaysia) which is more than 5 times with an indication that BURSA indices has been increased. What about SAS?

Additionally, the injection of RM 200 million announced by Sabah CM, Datuk Musa Aman on 2008 into SAS whereby we still couldn’t see any impact and positive sign of recovery of SAS price after 4 years until today 2012.

Furthermore SAS is making a loss of RM 20 million as reported in SAS Annual Report 2011 and yet their fund managers are still receiving a lucrative pay-out of about RM6 million per annum in 2011. (Refer: Page 12 of SAS Annual Report 2011 as attached)

In fact, Datuk Dr. Yee Moh Chai should support both SAPP Ybs in the state assembly to push UMNO led-BN government to issue White Paper to reveal the truth about the downfall of SAS in 1997-1998 instead of relentlessly slandering against the former Chief Minister, whilst nothing has been done until today in order to solve this perennial SAS problem. It has proven that the present UMNO led-BN government is simply incompetent, unreliable and poor in short and long term management planning.

In this coming election, let all of us to stay united and support our local party SAPP to regain the Sabah government from the present incompetent UMNO led-BN government. SAPP will not only issue the necessary WHITE PAPER to reveal the truth of the SAS fiasco but also will substantiate plans to elevate SAS to its original value, if not higher, when we form the next Sabah government.
Posted by at

48 comments:

  1. AnonymousMay 4, 2012 at 2:56 PM

    After UMNO and PBS refuse and reject to issue White Paper, I started believe UMNO and PBS are the main culprits of SAS losses!

    ReplyDelete
    Replies
    1. AnonymousMay 11, 2012 at 9:37 AM

      Really? I bet is YTL who is the main culprit after all.

      Delete
    2. AnonymousMay 11, 2012 at 3:49 PM

      A white paper is a waste of time and money, we all know Yong Teck Lee's main purpose to set up the white paper is to show everyone that he is not guilty, but the people are smarter than that.

      Delete
    3. AnonymousMay 13, 2012 at 10:11 PM

      can YTL deny that he is the one who approve the share swap deal??

      Delete
    4. AnonymousMay 14, 2012 at 11:57 AM

      YTL should know how to play the game since earlier. Now he is trapping himself.

      Delete
  2. AnonymousMay 4, 2012 at 2:57 PM

    datuk salleh is SAS chairman and he should be answerable to SAS. Don't hide under your mama panty. Be a man!

    ReplyDelete
    Replies
    1. AnonymousMay 11, 2012 at 9:51 AM

      Called him up then.

      Delete
    2. AnonymousMay 11, 2012 at 3:48 PM

      There is no need to waste time on this SAS issue, we already know what happened and who caused the down fall of SAS.

      Delete
    3. AnonymousMay 13, 2012 at 10:13 PM

      and Yong Teck Lie is Sabah Chief Minister at that time..

      Delete
  3. AnonymousMay 4, 2012 at 11:39 PM

    YTL as the CM at that time was responsible otherwise its like 'makan gaji buta.'Why blame Datuk Yee?So irresponsible of YTL to shift the blame on others when he was the culprit.Sabahans are not stupid cos they know what YTL did as CM.

    ReplyDelete
    Replies
    1. haloMay 11, 2012 at 9:52 AM

      Blame YTL is better.

      Delete
    2. AnonymousMay 11, 2012 at 3:47 PM

      Siapa KM Sabah semasa kejatuhan SAS? Yong Teck Lee lah orangnya, siapa yang menjanjikan bahawa harga saham SAS tidak akan jatuh dibawah RM1?

      Delete
    3. cayMay 14, 2012 at 11:50 PM

      YTL yang harus bertanggungjawab.

      Delete
  4. AnonymousMay 5, 2012 at 1:39 AM

    SAS was managed by a team of Directors who were appointed by UMNO and SAS chairman was Datuk Salleh Said Keruak during the crisis. Additionally, the SAS fund manager appointed by Datuk Salleh making millions of RM annually. Who is makan gaji buta?

    Furthermore, YTL CM rotation has been stopped after 1998 but SAS price remained stagnant until today 2012. 14 years !!!! All UMNO crooks are makan gaji buta for all this while.

    Stop fooling the people those umno's puppet. You only make yourself like an idiot though.

    ReplyDelete
    Replies
    1. AnonymousMay 5, 2012 at 5:38 PM

      YTL was the CM lah.Don't talk shits.

      Delete
    2. AnonymousMay 11, 2012 at 9:53 AM

      It is indeed run by Directors but they aren't the highest positions at all. Are you dumb?

      Delete
    3. lawMay 11, 2012 at 10:00 AM

      SAS jatuh semasa YTL menjadi KM, dia yang harus bertanggungjwab.

      Delete
    4. AnonymousMay 11, 2012 at 2:28 PM

      KLSE jatuh termasuk SAS semasa Dr mamaktiu dari umno adalah PM Malaysia and Anwar sebagai DPM Malaysia. Kedua2 ini harus bertanggungjawab.

      Delete
    5. AnonymousMay 11, 2012 at 2:29 PM

      SAS was managed POORLY by all the SAS directors with a SAS chairman. All of them are UMNO appointed Crocodiles.

      Why UMNO crooks all kept quiet except using pbs yee mo tahi do the barking like a mad dog?

      Delete
    6. AnonymousMay 13, 2012 at 10:19 PM

      whoever appointed as the team of SAS director, and whoever SAS chairman, the fact is, YTL is the one who approve the share swap deal..

      Delete
  5. AnonymousMay 5, 2012 at 8:43 AM

    Sabah should not have started such Unit Trust Fund in the first place cos the politicians are incapable of appointing the right people to its management. The kind of stocks that were picked, most of them can be manipulated and were meant to create short term euphorias and with no long term sustainability or real growth. Immediately after crisis, such mistake was not corrected, SAS was left for demise, no politicians wanted to be connected with it and blame game started. It was such an opportunity then to grow with the recovery on blue chips and such stocks were dirt cheap. No one in the SAS board was wise or experienced enough to do the right thing. SAS coffer was empty, there was no attempted to increase the fund size so that investors could average down, most of them were left for death. The SAS investors can call themselves lucky,with state asset(which belongs to public)being injected but definitely recovery will be slow & painful.Politicians should never be allowed in such funds and the long term faith of SAS is always in danger. The more plausible solution is perhaps to merge with other established and reputable unit trust.

    ReplyDelete
  6. cuba jawabMay 11, 2012 at 9:54 AM

    Kenapa nak heboh2 pasal SAS? Kan cerita ni dah lama.Memang semua orang menanti siapakah dalang di sebalik kejatuhan ini namun adakah itu membantu? Bukankah masalah PTI dan kemiskinan lagi penting?

    ReplyDelete
    Replies
    1. AnonymousMay 11, 2012 at 3:44 PM

      Yong Teck Lee mahu heboh-hebohkan isu SAS ini untuk menunjukkan bahawa dia tidak bersalah dalam isu ini, padahal siapa yang makan cili, itulah orang yang merasa pedas.

      Delete
    2. AnonymousMay 11, 2012 at 4:03 PM

      Siapa yang fitnah sama Yong pasal SAS jika bukan mulut dan hati busuk dari anjing2 umno?


      Fitnah adalah kebudayaan umno sekarang. orang umno dari ajaran sesat ke?

      Delete
    3. orlandMay 11, 2012 at 9:04 PM

      tapi Yong kini sudah menjadi liabiliti kepada SAPP..kenapa SAPP masih mahu simpan YTL? sudah ketandusan pemimpin kah? YTL seorang pemimpin yang gagal..

      Delete
    4. juntaMay 15, 2012 at 2:24 PM

      Yong pandai berdolak dalik, padahal dia terlibat dalam kejatuhan SAS.

      Delete
  7. AnonymousMay 11, 2012 at 3:43 PM

    SAPP tiada sudah hal lain, balik balik pasal SAS. Rakyat sudah tahu siapa yang menyebabkan keruntuhan SAS tidak perlu nak menafikan lagi.

    ReplyDelete
    Replies
    1. AnonymousMay 11, 2012 at 4:02 PM

      Jika ada bukti, kasih tunjuk ler.

      Fitnah adalah kebudayaan umno sekarang. Kamu sembah setan ke?

      Delete
    2. orlandMay 11, 2012 at 9:02 PM

      ketagihan sudah tu SAPP sama tu SAS...

      Delete
    3. oneMay 15, 2012 at 12:00 AM

      SAPP pun suka memfitnah juga. Suka cakap benda tanpa bukti.

      Delete
  8. orlandMay 11, 2012 at 9:01 PM

    boring sudah dengan ni isu SAS...

    ReplyDelete
    Replies
    1. ubiMay 14, 2012 at 11:54 PM

      Isu SAS di timbulkan semula, mau2 dekat PRU ne.

      Delete
  9. LinaMay 13, 2012 at 4:31 PM

    I guess people are getting more exposed and aware of what is happening.

    ReplyDelete
  10. OsmanMay 13, 2012 at 4:32 PM

    If they have failed then someone else should be able to elevate SAS.

    ReplyDelete
    Replies
    1. MinaMay 13, 2012 at 4:32 PM

      That simply means providing the position for someone else to take over.

      Delete
    2. AnonymousMay 13, 2012 at 4:32 PM

      Competent people should run it instead.

      Delete
  11. PatoMay 13, 2012 at 4:32 PM

    Assign a good management body to handle this.

    ReplyDelete
  12. AnonymousMay 13, 2012 at 10:08 PM

    whatever la.. what I know is YTL is the one who approved a share swap deal..

    ReplyDelete
  13. collinMay 14, 2012 at 8:18 PM

    I just don't care about what had happened, all do i care is what happen now.

    ReplyDelete
  14. collinMay 14, 2012 at 8:19 PM

    I am aware that the SAS is getting better now.

    ReplyDelete
    Replies
    1. AnonymousMay 14, 2012 at 11:51 PM

      UMNO is simply incompetence!

      SAS movement like turtle.

      UMNO SAS directors simply failed and UMNO must be kicked out!

      Delete
  15. AnonymousMay 14, 2012 at 11:53 PM

    musang bin tidak aman adalah kaki rasuah dan paling bodoh punya KM di Sabah yang menyebabkan Sabah menjadi termiskin di Malaysia.

    insiden Ini tidak pernah berlaku dalam tangan KM2 Sabah yang lain kecuali musang bin tidak aman yang palui

    ReplyDelete
    Replies
    1. cayMay 14, 2012 at 11:58 PM

      Insiden ini berlaku ketika YTL menjadi KM.

      Delete
    2. AnonymousMay 16, 2012 at 11:57 AM

      Sebelum Datuk Musa menjadi CM Sabah, kita tidak tahu keduduk Sabah di mana..

      Delete
  16. AnonymousMay 16, 2012 at 11:56 AM

    Untuk cover boss kasi salah orang lain..sas masih bernafas sampai sekarang pun sudah cukup bagus..

    ReplyDelete
  17. karulnaimMay 17, 2012 at 10:42 AM

    SAPP cuba memainkan isu SAS.. Cuba kaji balik kerugian yang dialami sekarang dengan yang berlaku semasa YTL menjadi KM.

    ReplyDelete
  18. belalangMay 28, 2012 at 10:29 AM

    belia2 SAPP perlu tahu bahawa isu SAS telah dibicangkan panjang lebar pada persidangan DUN Sabah. dalam persidangan DUN itu, telah terbongkar bahawa mereka yang terlibat dalam skandal swap saham bluechip MISC milik SAS dengan saham spekulatif seperti saham sugarban adalah para individu yang ada kaitan rapat dengan Yong Teck Lee.. jangan alihkan isu ini hanya kerana mahu menyelamatkan penjenayah sebenar..

    ReplyDelete

Subscribe to: Post Comments (Atom)