Putting the fox in charge of Umno Sabah’s henhouse
MALAYSIA TODAY - SPECIAL REPORT
There is this little known company called Sendirama Holdings Sdn Bhd with a mere RM100,000 paid up capital. The shareholders are Ahmad Ali bin Lope Abdul Aziz, who holds 64,000 shares of RM1.00 each, and Ijap bin Tayong, Jaafar bin Uttong and Abu Bakar @ Wahab bin Abbas, who hold 12,000 shares each.
The four shareholders are also all directors of this company. The company, however, has not been able to file its statutory accounts with the Registrar of Companies (ROC).
Why is it not able to file its accounts with the ROC as required by law? Because it does not dare close its year end accounts lest it would have to declare how much profit it has made. And it does not want anyone to know how much profit it has made. And we will tell you why in a short while.
But that is not the only problem Sendirama Holdings is saddled with. It is also in trouble with the Internal Revenue Department (IRD). It has been making millions of Ringgit in profits since it was incorporated on 1st June 1991 but it has not been declaring these profits or paid its taxes due to the Malaysian government.
How much money has Sendirama Holdings been making these last 14 years or so? Has the IRD been able to find out? The penalty for tax evasion is ten times what is due? Has Sendirama Holdings paid up yet or not? And the international passports of the directors of the company should be impounded and the directors barred from leaving the country. Has this been done or is it business as usual for these four directors of Sendirama Holdings?
Probably, the most important question of all that should be asked is: who are these four shareholders/directors of Sendirama Holdings and what business is the company involved in?
As usual: questions, questions and yet more questions!
And here are the answers.
Sendirama Holdings is a Sabah based company and is the front for Umno Sabah. Sendirama Holdings is Umno Sabah’s vehicle that is supposed to help it make tons of money. Sendirama Holdings did make tons of money as planned. Unfortunately, though, Umno Sabah did not. And, lo and behold, yet again, Musa Aman’s hidden hand is lurking in the background -- well hidden, but not well enough, since many within both Umno Sabah and Umno Malaysia are fully aware that its ‘treasure’ has evaporated into thin air.
I suppose, if you have read Treasure Island, you will know that pirates eventually screw each other. Therefore, when burying plundered treasure, just make sure you watch your back. But Umno Sabah did not. So, instead of the treasure being buried, Umno Sabah was, while the pirates sailed off with their ill-gotten gains, laughing all the way to the bank.
Sendirama Holdings did not file its accounts with the ROC because they have not been audited yet. And they cannot be audited because, if they were, then Sendirama Holdings would have to table them at the Umno Sabah meeting. And doing so would then reveal how much money Sendirama Holdings has siphoned out, money which actually belongs to Umno Sabah.
Umno Sabah, in its wisdom, made sure that there was no legal or official link between it and the company. They were going to use this company as a vehicle or front to rip off a couple hundred million Ringgit. If there was a visible link, then it could be proven that Umno Sabah was the beneficiary of a lot of money. How would they then explain where this money came from?
So they made sure that no one could trace Sendirama Holdings back to Umno Sabah -- at least not officially or legally -- though the activities and performance of the company are always discussed ‘off the record’ at Umno Sabah meetings. But now, since there is no legal link between it and the company, how does Umno Sabah claim back what belongs to it?
It cannot! Umno Sabah was just too clever in the way it hid the link between it and the company. Now, not only can’t the public prove Umno Sabah is the beneficial owner of Sendirama Holdings, but Umno Sabah itself cannot as well, and whoever is the legal owner of the company would therefore be the legal owner of the company’s vast fortune.
Poetic justice is it not?
Umno Sabah is still trying though. It wants Sendirama Holdings to fork out RM30 million, a small portion of its vast fortune. Of course, legally, it has no leg to stand on. But it is not using legal avenues, as it knows it has a snowball’s chance in hell of winning a legal battle. It is trying to use ‘persuasion’.
But how does Umno Sabah persuade Sendirama Holdings to pay up the RM30 million? The head of Umno Sabah is the Chief Minister Musa Aman. And all the four directors/shareholders of Sendirama Holdings are nominees of Musa Aman. Is this not like asking the fox to guard the henhouse?
Umno Sabah has a long wait indeed to see its RM30 million, if it will ever see it that is. And it had better not hope to ask for the balance of whatever hundreds of millions the company has made over these 14 years, which not only Umno Sabah, but the IRD would like to know as well.
Sendirama Holdings started ‘mining gold’ back when Musa Aman was the Umno Sabah Treasurer, the fox that was put in charge of Umno Sabah’s henhouse. Umno Malaysia, then, was in the process of rebuilding its fortune that was lost when the old Umno was deregistered by the Registrar of Societies soon after the Team A - Team B tussle. To achieve this, Umno Malaysia parcelled out Bumiputera share allocations of public listed companies to all the state Umnos.
And Sendirama Holdings was the 'approved vehicle' for Umno Sabah to get rich, approved by no less than the Finance Minister and Prime Minister then. But Umno Sabah did not get rich. Instead, those behind Sendirama Holdings, the then Umno Sabah Treasurer and now Chief Minister, plus the directors/shareholders of the company, did.
Sendirama Holdings' modus operandi was to sell all the public listed company shares it received from the government to Repco Holdings Berhad at way below market price. Repco Holdings would then sell it on the open market at a much higher price. Incidentally, Repco is in debt to the tune of RM607 million and is now under liquidation by Danaharta. And the Malaysian taxpayer is going to pay for Danaharta’s massive loss.
Hmm...isn’t Musa Aman’s brother behind Repco Holdings?
Yes, yet another fox that was put in charge of the henhouse. No wonder in local Sabah circles Musa is ‘fondly’ referred to as Musang, which means fox in Malay.
And who, in turn, is Ahmad Ali bin Lope Abdul Aziz, the majority shareholder of Sendirama Holdings?
Other than being Musa Aman’s buddy, which every Sabahan knows, if not he would not be a Sabahan, he is the President of the Sabah Bumiputera Chamber of Commerce.
Now hold on a second! Was not Musa Aman the President of the Sabah Bumiputera Chamber of Commerce prior to this? What a coincidence!
But then we should not jump to conclusions. It could really be a coincidence unless the Deputy President of the Sabah Bumiputera Chamber of Commerce happens to also be Musa Aman’s man or his relative or something like that. And the Deputy President is Hasnul Ayub. And Hasnul Ayub is.......can you believe it? He is Musa Aman’s nephew! Yet another coincidence!
Interesting! Very interesting indeed! Well, why not we look at the other Sendirama Holdings directors/shareholders as well since many interesting things seem to be floating to the top. I know shit floats, but this is just too good, or rather too bad, to be true.
Ijap bin Tayong is a Proton dealer. Now I wonder how he got the dealership. Abu Bakar @ Wahab bin Abbas was recently appointed by Musa Aman as the director of Suria Capital Berhad, a public listed company owned by the Sabah government. And Jaafar bin Uttong is the operations officer of Umno Sabah.
And the MIC members and Maika shareholders think they have a problem with the missing Telekoms shares? Theirs is kindergarten stuff compared to the Sabah scam. I am sure the Anti-Corruption Agency would now like to talk to the IRD so that the tax evasion case can be upgraded to a corruption case.
I wonder how Musa Aman and his boys in Sendirama are going to sleep tonight?
There is this little known company called Sendirama Holdings Sdn Bhd with a mere RM100,000 paid up capital. The shareholders are Ahmad Ali bin Lope Abdul Aziz, who holds 64,000 shares of RM1.00 each, and Ijap bin Tayong, Jaafar bin Uttong and Abu Bakar @ Wahab bin Abbas, who hold 12,000 shares each.
The four shareholders are also all directors of this company. The company, however, has not been able to file its statutory accounts with the Registrar of Companies (ROC).
Why is it not able to file its accounts with the ROC as required by law? Because it does not dare close its year end accounts lest it would have to declare how much profit it has made. And it does not want anyone to know how much profit it has made. And we will tell you why in a short while.
But that is not the only problem Sendirama Holdings is saddled with. It is also in trouble with the Internal Revenue Department (IRD). It has been making millions of Ringgit in profits since it was incorporated on 1st June 1991 but it has not been declaring these profits or paid its taxes due to the Malaysian government.
How much money has Sendirama Holdings been making these last 14 years or so? Has the IRD been able to find out? The penalty for tax evasion is ten times what is due? Has Sendirama Holdings paid up yet or not? And the international passports of the directors of the company should be impounded and the directors barred from leaving the country. Has this been done or is it business as usual for these four directors of Sendirama Holdings?
Probably, the most important question of all that should be asked is: who are these four shareholders/directors of Sendirama Holdings and what business is the company involved in?
As usual: questions, questions and yet more questions!
And here are the answers.
Sendirama Holdings is a Sabah based company and is the front for Umno Sabah. Sendirama Holdings is Umno Sabah’s vehicle that is supposed to help it make tons of money. Sendirama Holdings did make tons of money as planned. Unfortunately, though, Umno Sabah did not. And, lo and behold, yet again, Musa Aman’s hidden hand is lurking in the background -- well hidden, but not well enough, since many within both Umno Sabah and Umno Malaysia are fully aware that its ‘treasure’ has evaporated into thin air.
I suppose, if you have read Treasure Island, you will know that pirates eventually screw each other. Therefore, when burying plundered treasure, just make sure you watch your back. But Umno Sabah did not. So, instead of the treasure being buried, Umno Sabah was, while the pirates sailed off with their ill-gotten gains, laughing all the way to the bank.
Sendirama Holdings did not file its accounts with the ROC because they have not been audited yet. And they cannot be audited because, if they were, then Sendirama Holdings would have to table them at the Umno Sabah meeting. And doing so would then reveal how much money Sendirama Holdings has siphoned out, money which actually belongs to Umno Sabah.
Umno Sabah, in its wisdom, made sure that there was no legal or official link between it and the company. They were going to use this company as a vehicle or front to rip off a couple hundred million Ringgit. If there was a visible link, then it could be proven that Umno Sabah was the beneficiary of a lot of money. How would they then explain where this money came from?
So they made sure that no one could trace Sendirama Holdings back to Umno Sabah -- at least not officially or legally -- though the activities and performance of the company are always discussed ‘off the record’ at Umno Sabah meetings. But now, since there is no legal link between it and the company, how does Umno Sabah claim back what belongs to it?
It cannot! Umno Sabah was just too clever in the way it hid the link between it and the company. Now, not only can’t the public prove Umno Sabah is the beneficial owner of Sendirama Holdings, but Umno Sabah itself cannot as well, and whoever is the legal owner of the company would therefore be the legal owner of the company’s vast fortune.
Poetic justice is it not?
Umno Sabah is still trying though. It wants Sendirama Holdings to fork out RM30 million, a small portion of its vast fortune. Of course, legally, it has no leg to stand on. But it is not using legal avenues, as it knows it has a snowball’s chance in hell of winning a legal battle. It is trying to use ‘persuasion’.
But how does Umno Sabah persuade Sendirama Holdings to pay up the RM30 million? The head of Umno Sabah is the Chief Minister Musa Aman. And all the four directors/shareholders of Sendirama Holdings are nominees of Musa Aman. Is this not like asking the fox to guard the henhouse?
Umno Sabah has a long wait indeed to see its RM30 million, if it will ever see it that is. And it had better not hope to ask for the balance of whatever hundreds of millions the company has made over these 14 years, which not only Umno Sabah, but the IRD would like to know as well.
Sendirama Holdings started ‘mining gold’ back when Musa Aman was the Umno Sabah Treasurer, the fox that was put in charge of Umno Sabah’s henhouse. Umno Malaysia, then, was in the process of rebuilding its fortune that was lost when the old Umno was deregistered by the Registrar of Societies soon after the Team A - Team B tussle. To achieve this, Umno Malaysia parcelled out Bumiputera share allocations of public listed companies to all the state Umnos.
And Sendirama Holdings was the 'approved vehicle' for Umno Sabah to get rich, approved by no less than the Finance Minister and Prime Minister then. But Umno Sabah did not get rich. Instead, those behind Sendirama Holdings, the then Umno Sabah Treasurer and now Chief Minister, plus the directors/shareholders of the company, did.
Sendirama Holdings' modus operandi was to sell all the public listed company shares it received from the government to Repco Holdings Berhad at way below market price. Repco Holdings would then sell it on the open market at a much higher price. Incidentally, Repco is in debt to the tune of RM607 million and is now under liquidation by Danaharta. And the Malaysian taxpayer is going to pay for Danaharta’s massive loss.
Hmm...isn’t Musa Aman’s brother behind Repco Holdings?
Yes, yet another fox that was put in charge of the henhouse. No wonder in local Sabah circles Musa is ‘fondly’ referred to as Musang, which means fox in Malay.
And who, in turn, is Ahmad Ali bin Lope Abdul Aziz, the majority shareholder of Sendirama Holdings?
Other than being Musa Aman’s buddy, which every Sabahan knows, if not he would not be a Sabahan, he is the President of the Sabah Bumiputera Chamber of Commerce.
Now hold on a second! Was not Musa Aman the President of the Sabah Bumiputera Chamber of Commerce prior to this? What a coincidence!
But then we should not jump to conclusions. It could really be a coincidence unless the Deputy President of the Sabah Bumiputera Chamber of Commerce happens to also be Musa Aman’s man or his relative or something like that. And the Deputy President is Hasnul Ayub. And Hasnul Ayub is.......can you believe it? He is Musa Aman’s nephew! Yet another coincidence!
Interesting! Very interesting indeed! Well, why not we look at the other Sendirama Holdings directors/shareholders as well since many interesting things seem to be floating to the top. I know shit floats, but this is just too good, or rather too bad, to be true.
Ijap bin Tayong is a Proton dealer. Now I wonder how he got the dealership. Abu Bakar @ Wahab bin Abbas was recently appointed by Musa Aman as the director of Suria Capital Berhad, a public listed company owned by the Sabah government. And Jaafar bin Uttong is the operations officer of Umno Sabah.
And the MIC members and Maika shareholders think they have a problem with the missing Telekoms shares? Theirs is kindergarten stuff compared to the Sabah scam. I am sure the Anti-Corruption Agency would now like to talk to the IRD so that the tax evasion case can be upgraded to a corruption case.
I wonder how Musa Aman and his boys in Sendirama are going to sleep tonight?
posted by Gundohing at
7:14 PM
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