Zarinah Anwar will step down as chairwoman of the Securities Commission at the end of this month. (Photo by Hussein Shaharuddin/The Mole)
The commission too often goes easy on state controlled companies.
(Folks, this is the center, the ground zero, of all the financial fiascos plaguing our country lately. State controlled companies means GLCs. The Air Asia - MAS fiasco, the Khazanah fiascos, the Medini fiasco, the lembu condo fiasco and this fiasco are all because of the "GLC" link. Who are the people in charge of the GLCs? Siapa Menteri nya? Dont forget the Chinaman Director of Khazanah Nasional Bhd who had his name bandied about in some other Court case over "insider trading". They are all linked to who? I hope the Prime Minister will wake up on this one too.)
“Both the Companies and Securities Commissions are perceived as weak by many investors and other market participants."
(Weak means they are manipulated at the whims and fancies of the powerful. Too often now to benefit their own pockets.)
Here is the conclusion folks. How many of you seriously think there will be any prosecution coming out of all this? This is Malaysia. If you are connected, you rub shoulders with the high and mighty, you can still eat cake.
Read more HERE.