Khairy: I lost RM200,000

(The Star) KUANTAN: Deputy Umno Youth chief Khairy Jamaluddin has revealed that he suffered losses amounting to RM200,000 when he sold his shares in ECM Libra Avenue Bhd.

He said he disposed the shares in the interest of the company, minority shareholders and the Government.

“I do not want the company’s reputation to be affected due to some quarters questioning the manner in which I purchased the shares and as one of its shareholder.

“Frankly, I received no less than three offers to buy over my shares. One is from a government-owned company, another from an international company while a Chinese businessman offered a very profitable sum.

“I rejected the first offer as people will claim that it was a government bailout to rescue me while the subsequent offers will see the shares falling into the hands of outsiders and non-bumiputras.

“I will not let that happen and will rather suffer losses as long as the shares remain in the hands of our people.”

He told this to reporters after opening the Paya Besar Umno Youth, Wanita and Puteri division meetings at the Agro Semuji Resort near here yesterday.

Khairy said he would concentrate on politics for now as there was a lot of work and challenges ahead that needed his attention.

On Friday, Khairy sold his entire stake of 10.2 million shares in ECM Libra Avenue, representing 1.23% of the company, for 65 sen a share.

He had bought the shares at 71 sen a share in December last year.

ECM Libra Avenue chairman Datuk Kalimullah Hassan Masheerul Hassan had also reduced his stake in the company to 40 million shares or 4.8%.

The 26,467,220 shares belonging to Khairy and Kalimullah were bought by Hikkaya Jaya Sdn Bhd, a subsidiary of AmcorpGroup Bhd, for a total of RM17.2mil.

In Kepala Batas, Datuk Seri Abdullah Ahmad Badawi said his son-in-law had told him the reason for selling his shares in ECM Libra Avenue.

“These are his shares, not mine. I cannot comment further. He only informed me,” he added.

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I've Explained Enough, Says Khairy

REMBAU, Aug 6 (Bernama) -- Umno Youth deputy chief Khairy Jamaluddin says he has made enough explanations on allegations levelled at him and will now focus on the movement's struggle.

He said so far he had spoken to five Umno divisions and "I think that's enough and I want to focus on more important matters."

"I don't know from where the slanders come. I just explain, I've responded to several issues raised by certain leaders which are talked about by party members. So, I have to explain."

He was speaking to reporters after the simultaneous opening of the Rembau Umno Youth, Wanita and Puteri delegates conferences by Negeri Sembilan Menteri Besar Datuk Seri Mohamad Hasan.

Khairy, who is also Rembau Umno Youth head, said as long as he was Umno Youth deputy head, he would continue to listen to views from the grassroots.

"What's important is Umno Youth members. If they accept my explanation, it's good enough for me. Not that I want to satisfy those who accuse me," he said.

Since Friday, Khairy has been talking to several Umno youth divisions during which he denied marrying popular Malay actress Maya Karin and replied to allegations that he interfered in government administration, became a millionaire overnight and could afford to buy ECM-Libra Berhad shares.

Yesterday, he said he was prepared to relinquish his post as Umno Youth deputy chief if he was considered a liability to the movement.

In PORT KLANG, when opening the Klang Umno Youth delegates conference, he likened the people who spread slanders against him as "monkeys shaking the tree.".

"After I made the explanation in Kelantan, some people are still not satisfied. They say if there is no wind, how can a tree sway. It is difficult to answer but sometimes, we can see tree branches moving without wind. Does it happen or there's a monkey shaking them."

He said he regretted having to answer trivial matters about his family in Umno forums which should be the place to discuss national and global issues.

Meanwhile, Federal Territories Umno Youth called on irresponsible people who hurled various baseless allegations against Khairy to stop doing so immediately.

"The movement considers stinging attacks on Khairy as efforts to undermine Umno Youth," its head Datuk Mohamad Norza Zakaria said.

He said the State Umno Youth supported Umno Youth Chief Datuk Seri Hishammuddin Tun Hussein and Khairy as the most senior leaders in the movement and described them as "the country's most important asset".

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Dr M: I want answers

(The Star) KUALA LUMPUR: Stressing that he is not picking a fight with Datuk Seri Abdullah Ahmad Badawi or the Government, Tun Dr Mahathir Mohamad said he merely wants answers to questions on certain policies ditched by the current administration.

The former premier said his questions need not necessarily be answered by the Prime Minister, but could be replied to by the relevant ministers.

Dr Mahathir singled out four issues: the Government’s decision to scrap the Johor bridge, the sale of MV Agusta, the issuance of Approved Permits (AP) for car imports, and why Proton Holding Bhd chief executive officer Tengku Tan Sri Mahaleel Tengku Ariff’s contract was not renewed.

“I am not fighting with the Prime Minister,” he told reporters after delivering his keynote address at the International Islamic Fair conference here yesterday.

“I only do not agree with certain things that had been done. And I want to know why. I have no problem with the Government. I have problems with the things that had been done.”.

He was responding to the Cabinet ministers’ reaction to his outburst on Wednesday, when he accused the Abdullah administration of dismantling many of his policies and project ”I’m interested in finding answers to why Agusta was sold to an Italian company with a two-Euro capital. Why do you sack a chief executive officer (of Proton) who has been managing well and made the company profitable? And why appoint somebody who made it unprofitable, and lose RM500mil?

“Why was the (Johor) bridge not built when work had already started and it was already agreed to by the Cabinet and when Singapore was not complaining? “Instead, the focus is Dr Mahathir should keep his mouth shut.”

He said he had written questions to the relevant authorities, including the Proton management and Securities Commission but had yet to get answers.

“Why did they sack Tengku Mahaleel? What is his fault? They should explain. I am the adviser,” he said.

“I want to know why the ongoing project was ditched. Is it because of a lack of funds? As far I know, there is money. “That’s why I asked, but some people say Dr Mahathir should not speak. He has retired; he should go back and sleep.”

On Abdullah’s reaction, Dr Mahathir said: “I am happy that he said that it is my right to speak. Yes, very good. Thank you very much. So now I’m speaking because he said I have the right to speak; but some others said I have no right to speak.”

Dr Mahathir also expressed disappointment that some ministers who were also in his Cabinet were questioning his right to criticise instead of answering his questions.

“What is disappointing is that instead of explaining, all the talk is whether I have been right in making the criticism, whether I’m following the Umno tradition,” he said. “Maybe they don’t have answers, that is why they try to demonise me or try to make me appear very bad. “Apparently, from the way ministers invariably support everything the Prime Minister says, there cannot be much debate in the Cabinet.

“Two days before, they say we will build the bridge. When the Prime Minister said we would not build the bridge, everybody said we would not build the bridge. I am a bit sad.

“I raised questions, none has been explained. Instead, they say Dr Mahathir should not speak like that. He has no right as an ex-prime minister ... should go back and sleep, not disturb people. “Every time I say something, the same people or members of the Cabinet will give their standard comments.

“I say something today, I’m quite sure you will ask the ministers to say something. These were my Cabinet ministers. Before, they agreed with me.”

Asked whether he would continue to speak out on government policies and decisions, he replied: “If there is anything wrong, I claim the right to ask questions. Or is it that we cannot ask questions?”

Asked whom he meant when he said the Government came under the “influence of people with an agenda”, he replied: “A lot of people talk about it. I don’t dare to tell. You will ask others to comment 'Why Dr Mahathir say like that?’”

Asked his opinion of Umno Youth deputy chief Khairy Jamaluddin, he replied: “He is (Abdullah's) son-in-law.

You want to fish for information so that I will react. You are trying to get me into a controversy. I understand that Khairy is the son-in-law. That’s all.”

On Tengku Razaleigh's call to Abdullah and Dr Mahathir to meet to resolve the issue, as the controversy might split Umno, he said: “I think he is competent to make such a remark because once upon a time, he challenged me.

“When he lost, he formed a new party, he split the party. He knows about it, that’s why he is advising me not to do that.

“Just like Tun Musa Hitam. He said that (what I did) was not in keeping with party tradition because, once before, he also made that mistake. Now he wants to warn me not make the same mistake.”

Asked whether he had posed his questions to Abdullah when they met in Japan recently, Dr Mahathir said: “It was a 10-minute meeting. He was talking about a lot of things; I was listening.”

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ECM Libra sues Husam over articles

(The Star) KUALA LUMPUR: Financial advisory firm ECM Libra Bhd has sued PAS vice-president Husam Musa for libel over his two articles on Khairy Jamaluddin’s purchase of a stake in the company.

Also sued is Edisi Prima Sdn Bhd, the publisher of harakahdaily.net which carried the articles.

In the suit dated Jan 17, ECM Libra claimed that the articles published on Dec 29 last year and Jan 9 this year had defamed the deputy Umno Youth chief.

The first article was titled Bagaimana Khairy Membeli Saham ECM Libra (How Khairy Bought ECM Libra Shares) while the second article, Surat Saman ECM Libra Tidak Akan Hentikan Saya – Husam (ECM Libra’s Letter Of Demand Will Not Stop Me – Husam), had allegedly aggravated the damages suffered earlier.

Khairy is ECM Libra Capital Director of Corporate Advisory.

It was announced to Bursa Malaysia last Dec 27 that he bought a 3% stake in the broker and boutique investment house.

It was also announced that Khairy bought about 13 million shares in the firm in separate transactions from ECM Libra chairman Datuk Kalimullah Masheerul Hassan, chief executive officer Lim Kian Onn and chief operating officer Chua Ming Huat.

ECM Libra is seeking a full and unqualified retraction of the articles on the Net and four major dailies, plus damages.

Yesterday, High Court Justice Tee Ah Sing fixed April 20 to hear an inter-parte application for the injunction.

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