Thursday, 5 February 2015

1MDB Tong-Taek battle

First came this EXPOSE after a certain Malaysian mainstream media and several writers went on overdrive to turn Tong upside-down and blame him for the falling Ringgit. 

Even Prime Minister Najib Razak took time to comment on unfounded/not verified allegations of anonymous blogs against Tong.- An utterly ill-advised, premature act of a Prime Minister who is also Finance Minister.

Then came the denial (scroll down) from Mr Taek, a man who is closely linked to the powers that be and their baby 1MDB.


EXPOSED! Pro-Jho Low blogger behind attacks on Dr M, Nazir and Edge owner Tong

BY THE EDGE MALAYSIA Published: 3 February 2015 6:30 PM

A Google cache snapshot of 'kronismemahathir.wordpress.com/author/ahrily90/' as appeared on January 16, 2015, vilifying former prime minister Tun Dr Mahathir Mohamad and sons Mokhzani, Mukhriz and Mirzan. – February 3, 2015.

The anonymous blogger of malaysianexpose.wordpress.com behind the baseless attacks on Tong Kooi Ong and The Edge Media Group is also behind similar vicious onslaughts on Tun Dr Mahathir Mohamad and Datuk Seri Nazir Razak, while running other blogs which published complimentary articles on businessman Jho Low, investigations showed.
One common thread behind the attacks appears to be the fact that The Edge has been publishing exposes about state investment vehicle 1Malaysia Development Bhd (1MDB), while former prime minister Dr Mahathir has been openly critical of it, even saying it was unnecessary and should be shut.

Nazir, who is chairman of CIMB Group, has in private conversations expressed concerns that the massive RM48 billion debts of 1MDB is posing a big risk to the economy and banking system should it fail. In an interview with The Star in December, 2013, Nazir also said he was worried about how 1MDB will be able to develop the Tun Razak Exchange (TRX) given the glut in office space.

The blogger did not just attack Dr Mahathir, but also his sons – businessmen Tan Sri Mokhzani and Datuk Mirzan, and Kedah Menteri Besar Datuk Seri Mukhriz. The blogger also attacked former finance minister Tun Daim Zainuddin, who voiced reservations about 1MDB.

In the case of Nazir, his wife and children were also the subject of slander.


A Google cache snapshot of http://kronismemahathir.wordpress.com/author/ahrily90/ as appeared on January 16, 2015, targeting former finance minister Tun Daim Zainuddin. – February 3, 2015.

On the other hand, the Penang born 30-something Low Taek Jho, also known as Jho Low, was involved in the setting up of the Terengganu Investment Authority (the precursor to 1MDB).

He is said to still wield considerable influence at 1MDB because of his close relationship with the Abu Dhabi parties which have multi-billion ringgit dealings with the controversial debt-laden company owned by the Ministry of Finance.

Low, often seen at big spending parties with Hollywood celebrities like Paris Hilton and Leonardo Di Caprio, has business dealings with 1MDB, including a failed £1 billion (RM5.6 billion) bid for the UK hotel group Coroin Ltd in 2011. 1MDB had provided a letter of support for Low’s Wynton Group to buy Coroin, which owns several hotels including Claridge's.

Low made the bid together with his friend Sheikh Mansour Zayed of Abu Dhabi, who is also the owner of English Premier League club Manchester City. But they failed as some of Coroin’s shareholders did not think their proposed high debt leverage deal (which is also typical of 1MDB deals) could work.


A Google cache snapshot of http://kronismemahathir.wordpress.com/author/ahrily90/ as appeared on January 16, 2015. – February 3, 2015.

But Low and Sheikh Mansour, who bought small stakes in Coroin before attempting to buy everything, are believed to have walked away with a tidy profit after they sold their stakes to the eventual buyer.

1MDB has never explained why it provided the letter of support, which surfaced during a court case in London involving squabbling Coroin shareholders, to help Low.

The Edge Media Group in the past year published several exposes about the affairs of 1MDB, including 1MDB’s support for Low to buy Coroin and a RM1.38 billion land purchase in Penang, a week before the 2013 general election, from businessmen close to Low and his father Tan Sri Larry Low Hock Peng.

The Edge reported that 1MDB had overpaid for the parcels of land which have a number of encumbrances and that it will lose a lot of money to build 9,999 affordable homes, because of the high land cost and cost to evict a few thousand homes that have been there since the 1950s.

The anonymous blogger used the public display and user name "ahrily90" and he wrote at the following blogs since mid-2014:

kronismemahathir.wordpress.com

politikukus.wordpress.com

These two blogs have attacked Mahathir since July last year.

"ahrily90" also wrote on two blogs which targeted Nazir:

kamibukanbodohtau.wordpress.com

corruptednazirrazak.wordpress.com


A snapshot of http://kamibukanbodohtau.wordpress.com/author/ahrily90/ on January 30, 2015. – February 3, 2015.

A snapshot of http://todayinbusiness.wordpress.com/author/ahrily90/ as appeared on January 30, 2015. – February 3, 2015.

The same blogger also wrote on three blogs which praised 1MDB and Jho Low:

bisnes2malaysia.wordpress.com

todayinbusiness.wordpress.com

worldofcorporate.wordpress.com

Various articles were written which described him as global investor and philanthropist through his Hong Kong firm Jynwel Capital Limited. His philanthropic efforts were said to include US$20 million to save wild cats and US$50 million to a university cancer research centre.

Several articles touched on his many successful deals, including helping Kuwait Finance House to buy the Oval luxury apartment in Kuala Lumpur, which it then sold for a US$20 million profit. He was also reported to have bought the L'Ermitage Beverly Hills hotel and last year made a bid to buy sports brand Reebok for US$2.2 billion.

One article was headlined "Jynwel Capital: Rooted in the Past, Invested in the Future" while another read "Entrepreneur and Philanthropist's Generosity Inspires at Children's Ball".

todayinbusiness.wordpress.com and worldofcorporate.wordpress.com were taken down last week but what "ahrily90" wrote can be seen in the Google cache of these blogs.

"ahrily90" has changed his WordPress public display name and user names for the various blogs last week to "julijulipeh", "Pen Jingga", "saberarturia18", and "rahmanirwan74".

"ahrily90" has also contributed articles at lowtaekjho.wordpress.com. This blog too has been deleted by its authors.

A snapshot of the results of a Google search of the keywords ‘lowtaekjho’ and ‘WordPress’ today. – February 3, 2015.

The person behind all these blogs has realised he has been discovered and is now trying to cover his tracks by repeatedly changing his public display and user names.

He is also trying to decouple the various blogs.

But anyone who searches for "ahrily90" on Google will be able to find evidence that links them all together and points to him as the person behind the attacks on Dr Mahathir and Nazir since mid-2014, and most recently Tong and The Edge Media Group and The Malaysian Insider.

And it all has to do with criticism of 1MDB.

So who is paying him to do it? – February 3, 2015.

A snapshot of https://malaysianexpose.wordpress.com/2015/01/28/how-tong-kooi-ong-is-attempting-to-break-bank-negara-and-crash-the-rm/ as appeared on January 29, 2015. – February 3, 2015.- See more at: http://www.themalaysianinsider.com/malaysia/article/exposed-pro-jho-low-blogger-behind-attacks-on-dr-m-nazir-and-tong#sthash.8bxxqEO9.dpuf

Then came this DENIAL from Mr Taek

Jho Low denies links with blogger attacking Dr M, Nazir and Tong

Published: 4 February 2015 8:59 AM
The Malaysian Insider expose yesterday linking businessman Low Taek Jho to an anonymous blogger attacking Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak and The Edge publisher Datuk Tong Kooi Ong. – February 4, 2015.

Businessman Low Taek Jho has denied being part of attacks by an anonymous blogger against Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak and The Edge publisher Datuk Tong Kooi Ong, saying he respected the trio for their professional achievements.

A spokesman for the businessman also known as Jho Low said he has asked his lawyers to look into The Malaysian Insider's expose about a blogger registered as ahrily90 who had blogs praising him and 1Malaysia Development Bhd (1MDB) projects while criticising the retired prime minister, banker Nazir and Tong, who owns The Edge Media Group.

"This article wrongly suggests that Mr Low was somehow involved in the press attacks by an anonymous blogger on Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak, and Datuk Dr Tong Kooi Ong.

"This is preposterous and completely false," the spokesman said in a statement sent to The Malaysian Insider, referring to the article headlined "EXPOSED! Pro-Jho Low blogger behind attacks on Dr M, Nazir and Edge owner Tong".

"Mr Low respects these individuals for their professional achievements.

"Given the false and improper innuendos made against Mr Low in this report, this matter has been referred to his lawyers," the spokesman added.

The Edge Malaysia reported that the blogger of malaysianexpose.wordpress.com behind the baseless attacks on Tong and The Edge Media Group was also behind similar vicious onslaughts on Dr Mahathir and Nazir, while running other blogs which published complimentary articles on Jho Low.

One common thread behind the attacks appeared to be the fact that The Edge had been publishing exposes about state investment vehicle 1MDB, while Dr Mahathir had been openly critical of it, even saying it was unnecessary and should be shut.

The anonymous blogger used the public display and user name "ahrily90" and he wrote at the following blogs since mid-2014: kronismemahathir.wordpress.com and politikukus.wordpress.com that have attacked Dr Mahathir since last July.

"ahrily90" also wrote on two blogs which targeted Nazir: kamibukanbodohtau.wordpress.com and corruptednazirrazak.wordpress.com.

The same blogger also wrote on three blogs which praised 1MDB and Jho Low: bisnes2malaysia.wordpress.com, todayinbusiness.wordpress.com and worldofcorporate.wordpress.com. – February 4, 2015. - ENDS

The time has come for the Finance Minister to open 1MDB's books for scrutiny .There is no other option but to come clean IF you are indeed clean. 

Almost every other conversation in the last one week or so have been centered around this latest development in the unfolding twists and turns brought about by the now scandalous Malaysian WEALTH fund -1MDB. 


Another police report has been lodged against the newly minted 1MDB CEO while the previous CEO who quit abruptly has been completely silent. At the background, an amateurish attack was launched against The Edge's owner Tong Kooi Ong. Tong, an old hand at many things in Malaysia and a veteran of the 'world of Malaysian finance/bank/sharemarket' was being portrayed as a Soros-like rouge. Some accused him for being the cause for the depreciating Ringgit. 
From the start the attacks which came via the Media Prima stable appeared to be insulting the intelligence of Malaysians. Not only that those commenting on TV3 and the newspapers lacked credibility but the issue itself appeared nothing but a cheap attempt to find a scapegoat. The whole issue spun by Media Prima was based on the writings of an anonymous blogger who is believed to be on the run now.  How's that for professionalism. The fact that Najib was asked to comment on such unfounded allegations while Bank Negara was silent all along is testimony to the level of professionalism.
I dont think the Prime Minister is stupid. I don't know what to think. 
While the Media Prima stable continues to run in circles drawn by the boss' operative, Tong has gone straight to the root cause of the stupid charade.
Tong has pointed direct at a pro-Jho Low Taek blogger who seems agitated that 1MDB is being scrutinised. Tong has also unearthed the same bloggers attacks against all others who questioned the scandalous fund. 
Tong, as veterans in the industry tell me, is not a rookie. A banker says 'The aggressive Taek is not as aggressive as Tong of the 80s. He was a brash, smart and well connected young man. So Jho Low Taek better be careful with who he messes with. Tong knows the 1MDB story inside out'.  
Tong, the banker says, has the resources and necessary network to trace the trail left behind by any young punk in the industry. 
The 1MDB Tong-Taek battle has begun. Sit back and cover your nose. 
p/s Tun Dr Mahathir also thinks that Tong is being targeted because of his media group's decision to scrutinise 1MDB. In the meantime, Moody's the much sought after and glorified rating agency is being probed in the US for not telling the truth about the economy. 


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9 comments:

maae said...

All the while we have been questioning, who is this jho low... such a vvvip(recognise the v) to the gov. of Msia.

For some reasons, what happened to martrade?

Hope its true, apanama.

Anonymous said...

The greed and deceit is so bloody convoluted .... if only it never involved the common man's sen(s).

rahman jpc said...

it looks as though the psy war department is now in full swing.
however if it is being handled by mediocre strategists that hv limited experience,it is bound to fail.thus honesty is d best policy.

Rabbit said...

All the Najib's henchmen made Dollah's 4th floor boys look like amateur

Anonymous said...

Good article Firdaus. All roads lead to 1MDB. Hope we catch those b***ers!

Anonymous said...

There is a big difference between amateur and dumb. Najib's media ppl is not amateur, they are simply dumb.

Anonymous said...

Let's get to the point :
When did the promised repatriation of the Cayman funds take place and with which bank are the funds now placed?
How much of the funds were repatriated, all or what?
Simple and direct. Can the new CEO reply with the details as he committed he would? Let's give him the floor.

Anonymous said...

tong taik hehehe . . . sai tang hahaha.
Chinese ka Malay kalau jenis taik itulah dia! hohoho

Anonymous said...

"Tong Taek"...2x5,5x2...both stink!!

DS