Syed Zaid Albar Left SC In Disgrace – Good Riddance To BAD RUBBISH!

Shameless Syed Zaid Albar had resigned and bowed out as chairman of SC in disgrace. Thanks God that today is his last day as chairman of SC.

AirAsia Ordered 400 Aircraft From Airbus

In July 2016 it was an international news in the airlines industry that AirAsia had placed a slew of order for airbuses to the tune of a few hundred from Airbus SE. To be precise, AirAsia ordered an additional 100 Airbus from its existing orders of 300! The then CEO of Airbus, John Leahy, and Tony Fernandes of AirAsia were ebullient on the said orders, HERE. Of course, Tony Ferenandes was then the star of the big airshow in Farnborough and other parts of the world. With such big orders, Tony was the super hero and admired by many in the airline industries throughout the world.

Airbus representatives and Kamaruddin Meranun of AirAsia were on a publicity blitz over the said orders and even had a well publicised signing ceremony held in Kuala Lumpur. At the material time, Tony Fernandes and Kamaruddin Meranun, the supremos of PN17 AirAsia, were the stars which no others airline executives in the world could emulate.

At that material time, little did the world know that the slew of orders for aircraft by AirAsia was a quid pro quo whereby AirAsia’s two criminals known as executives 1 and 2 had been paid been paid more than RM200 million in bribes by Airbus. Please read the UK Crown Court Judgement in “Now Everyone Can Defraud AirAsia Shareholders”.

It is unclear that out of the 400 Airbus ordered, how many have been delivered and how many remained outstanding.

Airbus Had Admitted In The UK Crown Court To Have Paid More Than RM200 Million To Two Criminals Executives 1 & 2 of PN17 AirAsia For Aircraft Orders

In late January 2020 the UK Crown Court had adjudged that two criminals known as executives 1 and 2 of PN 17 AirAsia had received bribes of more than RM200 million from Airbus in exchange of aircraft orders. Airbus had admitted in the UK Court of having paid the said bribes to the said two criminals in PN AirAsia. Airbus was penalised with a fine of £3 billion, HERE.

This Airbus Bribery Scandals were widely publicised internationally and in Malaysia.

If the RM200 million were to be refunded as a discount to AirAsia, the said RM200 million could have been utilised by AirAsia to pay out as dividends to its shareholders. Instead the said two criminal pocketed the RM200 mil as bribes.

The two criminals executives 1 and 2 of PN17 AirAsia had acted against the interest of AirAsia and ultimately its shareholders, which was a matter of great concern to both authorities Bursa Malaysia and SC.

Bursa Malaysia Launched An Investigation Into The Airbus Bribery Scandals But Was Immediately Stopped By SC Under The Watch Of Shameless Syed Zaid Albar

In early February 2020, Bursa Malaysia was the first to announce that it had commenced investigation into the said Airbus bribery scandals and followed by MACC, HERE.

The Security Commission (SC) under the watch of that shameless Syed Zaid Albar, the chairman of Security Commission, had followed suit. However, SC had the audacity to instruct Bursa Malaysia to stop its investigations. At that material time, it appeared to be in order as SC has more powers under the law to investigate and prosecute the said two criminals. Little did we know that it was not what we thought it should be. It was just a scheme to stop Bursa from proceeding with its investigation into the said Airbus bribery scandals.

After More Than 2 Years Shameless Syed Zaid Albar Had Continiued To Play Dumb On The Investigation Of Airbus Bribery Scandals

More than two years have elapsed, there was no sign of SC investigating the said RM200 million Airbus bribery scandals. Despite many calls for this shameless Syed Zaid Albar and/or SC to announce the results of the said investigation, that shameless fella chose to play dumb, a curious habit for a person holding high office. Human decay in this shameless Syed Zaid Albar is extremely noticeable. It is a case of “Harap Pagar, Pagar Makan Padi”!

Out of the blue on 28 April 2022 this shameless Syed Zaid Albar tendered his resignation two and half years prematurely and to take effect today (31 May 2022), HERE.

What a great relief for those upright officers in SC and Malaysia! It is good riddance to bad rubbish!

Datuk Wang Adek Hussin Will Take Over As The New Executive Chairman of SC On 1 June 2022


Left: Datuk Awang Adek Hussin, ex-Senator & Minister of Finance II, Tony Fernandes one of the supremo of PN17 AirAsia.

Datuk Awang Adek Hussin, the former Senator and Minister of Finance II, had been appointed by another Senator Tengku Zafrul, the Finance Minister, who was the former CEO of CIMB and Tune Money Sdn Bhd, which is an outfit of PN17 AirAsia, HERE.

Datuk Awang Adek will take office on 1 June 2022. Lets hope that Datuk Awang Adek has the guts to clean up SC by getting rid of the dead woods or the shameless Syed Zaid Albar’s “kuncu” / cronies for covering up the internationally known Airbus Bribery Scandals which involved the two criminals known as executives 1 and 2 of PN17 AirAsia who had been paid more than RM200 million bribes by Airbus.

Stay Tuned

Now Everyone Can BS!

Tony Ferndanes & Bo Lingam of AirAsia had assured members of the public that AA had refunded 99% to its customers!  But international customers have demanded refunds on 22.4.2022. Who are lying?
Tony Fernandes was flaunting his wealth – his latest acquisition of the brand new Tesla car!

When there was public outcry on AirAsia did not refund the ticket price for cancelled flights to its customers, in April 2021 Tony Fernandes of AirAsia was under public pressures and he gave an assurance that 450,000 of its customers will get the refund, HERE. All was well for a few months.

The Comments in SocMed

Comments from netizen

Demand For Refund Got Louder After Tony Showed Off His Wealth

In September 2021 when Tony Fernandes showed off his brand new Tesla car, AirAsia’s frustrated customers / netizen began to demand refunds of their cancelled flight and its staff demand for payment of outstanding salaries, HERE. Thereafter, we could see hypes after hypes from Tony Fernandes and his macai in AirAsia but nothing positives came out of it. It was just a case of taking Panadol for cancer! AirAsia’s frustrated customers became infuriated, HERE.

In October 2021, as a result of public outcry from frustrated AirAsia’s customers and netizen, FOCUS news portal had appropriately described the state of affairs in its commentary: Entitled “AirAsia X passengers might as well kiss their refund prospects good-bye”!

The quotable quote from the above Focus’ article:

“He (Fernandes) should sell his personal assets – Tesla car if he owns any, football club and international school or any other assets – to save the company. In most countries, the owner will be declared a bankrupt with his company.” The quote to describe Tony Fernandes was most appropriate!

In fact, Tony should also lodge a corruption report with MACC, Security Commission and Bank Negara against the 2 CORPORATE CRIMINALS / CONMEN known as AirAsia executives 1 and 2, who had received RM200 mil bribes from Airbus for orders of aircraft! Tony Fernandes should smoke out these 2 corporate criminals in his AirAsia and force them to cough out the RM200 mil to contribute to the refunds. For full details of the 2 corporate criminals act of corruptions and criminal misconducts had been clearly set out in the UK Crown Court Judgement on the international Airbus Bribery Scandals. The said criminal AirAsia executive 1 was so daring to send an official email to airbus to demand for outstanding bribes of $16 million bribes from Airbus. For full details of the UK Cro3n Court Written Judgment please read in HERE.

By the way this Tony Fernandes is wanted in India for money laundering and criminal misconducts of corrupting Indian government official in granting flight permits, HERE.

Lets hope that Tengku Zafrul, Governor of Bank Negara and the shameless Syed Zaid Albar will take note of the above!

Foreign Customers Was Forced To Make Group Demand For Refund

On 28.3.2022 Tony Fernandes came out with another hypes that AirAsia have settled 90% of the refunds to its customers, HERE. Of course, Tony Fernandes did not explain inches press statements what did he meant by settlement!

Bo Lingam, the famous Group CEO of AirAsia Aviation Group, who is also wanted by India Directorate of Enforcement for money laundering and criminal misconducts.

Group CEO of AA, Bo Lingam Bragged 99% Of The Refunds!

On 29.3.2022 another hype by Bo Lingam that AirAsia had settled not 90% of the refund but 99%! Well Bo Lingam did not explain then details of the so-called settlement. Where is the catch? Please read what Bo Ligam had said below:

“Meanwhile, the large majority of our guests across the Group have opted for a credit account which is processed immediately and valid for up to two years for booking from the date of issuance.” For full statement of Bo Lingam, HERE.

Despite the above assurances by Tony Fernandes and Bo Lingam that 99% of the cancelled flights had been settled, why thousand of its customers are still very frustrated and angry with the issue of no refund!

It would appear that the bulk of the so-called settlements that Bo Lingam was referring to were settlement by set-off through credit notes or vouchers! That was the style of settlement by Tony Fernandes and Bo Lingam but not the customers who are demanding for cash refund so that they can plan their future trips to travel with airline of their choice.

Frustrated Foreign Customers Felt Cheated

On 23.4.2022 those frustrated customers have organised themselves to take actions against AirAsia on the international front. MalaysiaNow news portal had reported: “International passengers unite to demand AirAsia refunds!”

The quotable quotes from the above report:

“They said they and their rights as consumers had been ignored as they were unable to even speak to a staff member about their complaints. Instead, they said, they were forced to convey their problems through AVA, an artificial intelligence-based chatbot.”

“Glenn Bruce Andrew Priere, also from Sydney, said he was shocked to discover that his case had been marked as “resolved” as he was still waiting to be refunded for the six flight tickets he had bought for A$1,600 or just over RM5,000.”

If what Tony and his Bo Lingam said were true, why these international customers got together in a group to demand for refunds! From the above report, it is crystal clear that the AirAsia’s refund issues are from being settled, definitely NOT 90% or 99% as had been BS by both Tony and his Bo Lingam!

The Rakyat should learn from the above and stop being easily fooled by such hypes and/or advertisements of similar nature.

Yours truly hopes that the Governor of BNM, shameless Syed Zaid Albar of SC and most of all the unelected Zafrul will not be so foolhardy in their eagerness to grant Digital Banking Licence or “Buy Now Pay Later” Permit solely based on “SPECIAL CRITERIA” in total disregards of public interests! Put the law to protect the the Rakyat in place before trying to achieve their silly dreams or agendas!

Please Stay Tuned – Next Change “Joker Nazir Razak, The Player!”

Warning To The Reckless Fintech / Microloan Gurus! – Part 3 (Tony Fernandes & Others in PN17 AirAsia Wanted For Money Laundering & Criminal Misconducts In India!)

Updates @ 1:15 pm 22.4.2022

Fernandes & Kamarudin Meranun Were Involved In Caterham F1 Motorsport

During the happy days with Caterham FI motor Sport Team! Left to right: Kamarudin Meranun & 3rd from left: Tony Fernandes. Both are still the supremos of AirASIA & AirAsia X. Their celebrations in Caterham F1 motorsport team was short lived!
The GOOD OLD DAYS! Left to Right: Tony Fernandes, No: 1 man in PN17 AirAsia & reported in the press being wanted for money laundering and criminal misconducts in India. Extreme Right: Tan Sri Rafidah Aziz, the former Minister of International Trade & Industry Malaysia & current Chairman of AirAsia X. Rafidah was the director of AAX, who launched the so-called “Travel Pass“, just a week before the imposition of the MCO in March 2020!

According to Reuters report on 7.5.2015:

Caterham, founded by Malaysia AirAsia airline entrepreneur Tony Fernandes as Lotus Racing in 2010, failed to score a point in five seasons in Formula One and went into administration with 200 staff made redundant last October, HERE.

In April 2021 Caterham’s owners Tony Fernandes and Kamarudin Meranun, the famous two supremos of PN17 of AirAsia, suddenly sold it to VT Holdings for reason best known to themselves. Please read: “Tony Fernandes & Kamarudin Meranun Sell Caterham – Price Not Disclosed “.

Airbus RM200 Million Bribery Scandals Charge No: 1Clearly Incriminated AirAsia & AirAsia X Execs 1 & 2

The above is the charge stated in the UK Crown Court’s Written Judgement on the huge internationally known Airbus Bribery Scandals of all times!

The said Count 1 clearly identified the 2 Criminals / Conmen Executives 1 and 2 of PN17 AirAsia / AirAsia X being paid RM200 million Bribes by Airbus for orders of 182 aircraft. After more than 2 years Malaysia Security Commission (SC) under the watch of the shameless Syed Zaid Albar of SC took NO ACTION. This is what a dysfunctional SC is all about! It is an expert in covering up for big boys / ‘friends” but fast to prosecute the ordinary Rakyat with no connection! This is typical of the Malaysia Boleh!

Count 10 Against Former CEO of Garuda, Indonesia

In another UK Crown Court Written Judgment on the Rolls Royce‘s Bribery Scandals.

In another internationally known Rolls Royce Bribery Scandal involved the former CEO of Garuda, Emirshah Satar, who received a mere $293,000.00 from Rolls Royce was prosecuted and sentenced to 8 years jail. In Malaysia, the said 2 criminals / conmen of AA and AAX are not only protected but put on the pedestal by Bank Negara Malaysia, Security Commission and the un-elected Minister of Finance, Tengku Zafrul. This shows the dysfunctional system of good governance and enforcement in Malaysia. Please read the full UK Crown Court Judgment to understand how the Crown Court came to the decision.

If one compare the above Charge No: 1 in the Airbus case and Charge No: 10 in Rolls Royce’s Bribery Scandals, it is as obvious as tomorrow sun will rise that the Airbus Bribery Scandal connected to executives 1 and 2 of PN17 AirAsia and AirAsia X are many times more serious! Yet our authorities in Malaysia like BNM, SC and the un-elected Minister / Ministry of Finance “BUAT TAK TAU” (playing dumb) to the serious offences committed by the said 2 criminals / conmen of PN AirAsia, who have been adjudged in the UK Crown Court. It appears that the TRIO are not only condoning but openly protecting the 2 criminals.

Tony Fernandes & Kamarudin Meranun – Top Executives of AA & AAX Are Also Playing Dumb

Left to Right: 2nd from left Tony Fernandes of AirAsia, 3rd Airbus CEO Guilazume Faury & 4th Kamaruddin Meranun of AirAsia applauding the order of aircraft form Airbus – Picture taken during the exchange of documents after signing Aircraft Purchase Agreement in Kula Lumpur on 30 August 2019. (Photo: Shutterstock)

On or about 30 January 2020 the Airbus Bribery Scandal broke out in UK. A few days later, both Tony Fernandes and Kamarudin Meranun had denied all allegations as stated in the UK Crown Court Written Judgement on the said AIRBUS Bribery Scandals. It was a natural responds. AirAsia board of director had set up a so-called investigation into the bribery scandals and found nothing of interests as expected. Of course, both of them were given a clean bill of health!

However, until this date, both of them are still playing dumb on the identities of these 2 criminals / conmen known as executives 1 and 2 of PN17 AirAsia and AirAsia X as stated in the said Written Judgement.

Tony Fernandes Was Wanted In India For Alleged Money Laundering Charges & Criminal Misconducts

In May 2018 it was reported that Tony Fernandes / AIrAsia had been accused to have paid $5 million bribes to Indian government official to obtain flying permits, HERE.

“AirAsia has been accused of bribing government officials for overseas flight permits and violating rules preventing foreign airlines from controlling Indian operators”. Tony Fernandes is one of the 3 official wanted in India. He had ignored 2 previous summons. A full press report in India, HERE.

Please read the Asian Aviation report dated 4.2.2020 entitled : “AirAsia Fernandes airline’s chairman, caught in Airbus Corruption Investigation” (CEO and chairman step down temporarily and deny all allegations as probes continue in Malaysia, Britain and India.)

This is not the only legal jeopardy in which Fernandes is ensnared. Regulators in India have demanded he appear for the country’s Directorate of Enforcement to answer charges that the airline tried to strong-arm the government and the directorate has filed money laundering charges against AirAsia officials. The charges were originally filed in May 2018 and said AirAsia officials tried to manipulate government policies through corrupt means to get an international licence for its Indian venture, AirAsia India. This is the excerpt from the Asian Aviation report. For the full report please read HERE.

The Edge Market had also reported on 17.1.2020 that Tony Fernandes was wanted by the Enforcement Directorate (ED) in India to answer the alleged money laundering.

The Business Today business fortnightly said on its website that both the ED and the Central Bureau of Investigation had in 2018 launched their respective probes in alleged financial irregularities and criminal misconduct when the airline was lobbying to obtain its licence for its Indian operations.

“Along with Fernandes, AirAsia group president Tharumalingam Kanagalingam, also known as Bo Lingam, and businessman Arun Bhatia, who held substantial equity in the airline, have also been summoned. Senior group executive S Ramadorai, as well as former CEOs Naresh Alagan and have also been asked by the agency to join the probe,” the portal said. This is the excerpt of the Edge Market report. For full report please read in HERE. This scandal was widely reported India in 2020, HERE.

Tony Fernandes, Bo Lingam Did Not Show Up

It has been reported in 2020 that Tony Fernandes, Bo Lingam and others did not show up when the case was called up in Court, HERE. Why? Guilty as charged? Subsequently, in December 2020, Reuters had reported that PN17 AirAsia had sold its stake in AirAsia India to Tata & Son for RM151 million, HERE.

The Famous Tharumalingam Kanagalingam aka Bo Lingam

From left: 2nd left: Bo Lingam, 3rd the famous insider trading expert Kamarudin Meranun, 4th Tony Fernandes, wanted in India as reported, 5th Anthony Loke, the former Minister of Transport for only 22 months cum “super salesman” for AA.

In early 2021 Bo Lingam has been promoted as the acting Group CEO of PN17 AirAsia Aviation Group at the time when AirAsia set up the so-called investigation into the international Airbus Bribery Scandals where executives 1 and 2 of PN17 AirAsia were found to have received RM200 million BRIBES from Airbus by UK Crown Court.

Aren’t The Above Scandals Enough To Wake Up The TRIO / 3 Stooges?

From left: The shameless chairman of SC, Syed Zaid Albar, the un-elected Syok Sendiri Minister of Finance, Tengku Zafrul and the governor of BNM, Tan Sri Nor Shamsiah (The TRIO / renown Fintech Gurus!)

Don’t tell us that Tan Sri Nor Shamsiah of BNM, the shameless Syed Zaid Albar of SC and un-elected Minister Tengku Zafrul are still oblivious of the above, AirAsia is under PN17 and it’s criminals /conmen known as executives 1 and 2 were criminally implicated in the RM200 million Airbus Bribery Scandals! AA’s supremo Tony Fernandes was also wanted in India for money laundering activities and criminal misconducts in the dealing with the authorities in India as reported above.

Let’s hope that TRIO / 3 stooges will now wake up from their slumber and for once stand up to protect their respective image, if there is any left, and do the right thing on the issues of Microloans / Digital Banking Licence and others as expected of them. However, if the TRIO are still not convince, please proceed to the website of UK Serious Fraud Office and download the two UK Crown Court Judgments pertaining to the Airbus and Rolls Royce Bribery Scandals. For the ease of reference and benefit of the hundred if not thousand of officers including the Tingkat 4 in BNM, SC and MoF, here are the link for the UK Serious Fraud Office, HERE. (Just in case they still have problems this is the website of SFO UK:

Should BNM/SC/MoF Approved Digital Banking Licence / Microloan Licence To Applicant With Obvious Bad Records?

The un-elected Minister Zafrul, shameless Syed Zaid Albar of SC and Governor of BNM and should take cognisance that when a customer with just a tiny black dot in his or her record or impending financial issue applying for a banking facilities of any kind, the bank will REJECT it outright.

How about an applicant for Digital Banking Licence was classified under PN17 by Bursa Malaysia and 2 of its directors are implicated in the international Airbus Bribery Scandals where both directors were found by the UK Crown Court to have been paid RM200 million bribes by Airbus for aircraft orders? Common sense should prevail and public interests dictate that BNM should NOT even bother consider such an applicant from the word go let alone approve it!

Should the Trio or 3 stooges waste their precious time and public fund to consider an applicant for Digital Banking Licence where its CEO or one of its directors is wanted by a foreign enforcement agency like our MACC/SPRM or SC for money laundering activities and criminal misconducts in their application for licences? Please don’t tell Malaysians that the answer is YES!

Are Malaysians asking too much from these 3 public officials / 3 Stooges whose salaries are paid by “Duit Rakyat” / public funds to take the appropriate actions against the said 2 CRIMINALS / CONMEN? Or are we to accept the famous Malay proverb “Harapan Pagar, Pagar Makan Padi” (a direct translation for the benefit of foreign readers “Expects the fence, the fence eaten the padi”) as the new SOP for BNM, SC and Ministry of Finance? God forbids!

Let’s also hope that the Trio / 3 stooges will not be part of the “Gaji Buta Syndrome“!

To be continued – Stay Tuned – Next Change on joker Nazir Razak, former CEO of CIMB and now the chairman of Bank Pembangunan Bhd & head of Perihatin Danajamin Guarantee.

Related articles:

Warning To The Reckless Fintech / Microloan Gurus! – Part 1, HERE.

Warning To The Reckless Fintech / Microloan Gurus! – Part 2, HERE.

PN17 AirAsia Executive 1’s Email to Airbus “I Want My 16M Nowas appear in the UK Crown Court Written Judgment in, HERE.

Warning To The Reckless FinTech / Digital Microloan Gurus! – Part 1

The Trio!. From left: The famous Datuk Syed Zaid Albar from SC. Center: YB Tengku Zafrul, the famous singer “Hebatnya Ku” cum unelected Senator. Right: Tan Sri Nor Shamsiah Bte Mohd Yunus, Governor of Bank Negara Malaysia (Malaysian Central Bank)

Origin of Fintech

FinTech started by WeChatPay and followed by AliPay in China many years ago.  Both are eWallets where customers have to deposit money into their account or their credit card or direct debit card are linked to it.  There was no cause for alarm. 

A year or two ago,  eWallets were introduced by GrabPay and Touch n Go in Malaysia, there were no problems as most if not all customers spent within their means. It operated like the internationally known PayPal where the account is linked to the bank account or credit card.

Digital Microloans

The emergence of Digital Microloan that is of concern to the nation!

We all support the government to make life easier for the Rakyat especially the B40s so that they will be easily accessible for loans through financial schemes such Digital Microloans to help them.  However, at this juncture there are no laws in place to govern Digital Microloans to protect the vulnerable B40s of which consist mainly of students and low income households.

It must be noted that out of a sudden in January 2021 the Governor of Bank Negara Malaysia (BNM) (Malaysia Central Bank), Tan Sri Nor Shamsiah Bte Mohd Yunus, had announced that BNM had opened invitations for companies to apply for Digital Banking Licence from January 2021 and closing date was 30 June 2021.  This Digital Banking Licence issue went quiet until early this year.  Suddenly BNM had said that it will award this licence to the “SELECTED FIVE” companies.  Presumably the licence is to cover the public offer of Digital Microloans!   

On 30 March 2022 BNM Governor announced that “upon completion of the legal process” BNM will only announce BNM’s decision which are the “SELECTED FIVE” companies have been awarded with the said licence, HERE.

No Law To Govern Digital Microloans

It was on 30 March 2022, BNM had uploaded its Annual Report online, wherein it had admitted that it has just started to discuss with the Security Commission (SC) and Ministry of Finance (MoF) to come with up with a new Consumer Credit legislation.  Whilst they are discussing about the said new legislation, several Digital Microloan companies have already launched their products as though they had already obtained the Digital Banking Licence from BNM and received “green light” to do so.  Perhaps someone higher up had whispered to the “friendly” parties that BNM had already granted the said licence to their respective companies!  It is a case of “Malaysia Boleh” system!   

It seems that the Digital Microloan companies have already been allowed to dish out loans two to three times the B40’s monthly salary.   

The Unelected Minister of Finance, Tengku Zafrul Was Encouraging Members Of The Public: Don’t ask. GOpinjam.” Most Irresponsible!

(From left) Alan Ni, CEO of Touch ‘n Go eWallet,Effendy Shahul Hamid, Group CEO of Touch ‘n Go Group, the unelected YB Senator Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Finance Malaysia, Datuk Mohd Nasir Ahmad, Chairman of CIMB Group and Dato’ Abdul Rahman Ahmad, Group CEO of CIMB Group posing for a group photo after the launch of A Break Through Consumer Financing Product. —SAMUEL ONG/The Star

It is scary!  At this rate, perhaps “nasi sudah menjadi bubur” by the time our most proactive unelected Finance Minister, Senator Tengku Zafrul, is ready to read this Consumer Credit Bill in Parliament for approval!   

BNM, SC and the unelected Senator are taking this Digital Microloan very lightly!  Our nation is doomed for disaster in a matter of a few years and when the Digital Microloan bubble burst then we will witness many B40s will be in misery. Digital Microloan operators and bank will also go bust!  To take whatever remedy actions then will be futile as it will be a case of “closing the stable door after the horse has bolted”!  

It seems that under the watch of the best unelected Zafrul, Malaysians are suddenly being encouraged to participate in the Digital Microloans under the pretext of helping B40s. The latest motto of Zafrul was: “Don’t ask any question. Just borrow”!  It would appear that this unelected minister has been on a launching and promotion spree of the Digital Microloans for companies without putting the relevant laws in place to protect the Rakyat from being exploited.  This was most irresponsible to say the least. Then what do you expect from an IRRESPONSIBLE “Tongkat Assisted” Minister!  

Mushrooming of Fintech / Digital Microloan Products

Out of the blue, we saw the mushrooming of FinTech asuch “Buy Now Pay Later Schemes” (BNPL), eWallets, Digital Microloans and the like in Malaysia.  

BNM must be forewarned that such FinTech / Digital Microloans is very attractive to the majority of the ordinary Rakyat namely the B40s group.  Such schemes are easily accessible to B40s whereas normal loans are usually out of reach for them in the conventional financial institutions due to stringent rules and procedures.  

The operators of FinTech / Digital Microloan are in fact identical to banks in a smaller scale but without strict laws to control them at this moment.  In short, FinTech / Microloan operators more concern with volume of borrowers and 100% profit driven. Of course, that is to say to help the rakyat! This is a dangerous trend!  It seems that our most ambitious unelected Finance Minister is walking a fine line between ingenuity and impulse here but with his so-called brilliance, it is assured that Malaysia will be doomed with disasters in a few years’ time if this situation is allowed to go without the consumer credit legislation in place.  

To be continued.

Next Change for Part 2 – Stay Tuned!

Now Everyone Know Who Is Syed Zaid Albar In SC!

left: Datuk Syed Zaid Albar, middle: The then super powerful Political Secretary of former Minister of Finance, YB Tony Pua right: The equally super powerful Chief Regulatory Officer of SC, Ms Foo Lee Mei.

RM200 million Airbus Bribery Scandals Involving AirAsia Executives 1 & 2


In February 2020, Security Commission under the chairmanship of Datuk Syed Zaid Albar had STOPPED Bursa Malaysia from probing into the international scandal where RM200 mil BRIBES was paid by Airbus to AirAsia’s Executives 1 & 2 for orders of aircraft, HERE.

This international bribery scandal was exposed in the UK Crown Court where Serious Fraud Office of UK filed a case against Airbus and Airbus had admitted the bribery offences and paid a penalty of Euro 3.5 billion. This bribery scandal was widely publicised and received the attention of many enforcement agencies internationally including Malaysia.

Former CEO of Garuda Indonesia Was Charged and Jailed For Having Received Bribes From Airbus

Not only the the said two executives 1 and 2 of PN17 AirAsia were implicated in the Airbus BRIBERY SCANDAL but several airlines in other countries were also implicated too. One of which was the former CEO of Garuda who was exposed in the UK Crown Court judgement like the two corporate crooks executives 1 & 2 in AirAsia. The only major difference was the Indonesian Law Enforcement Authority had acted swiftly and charged the former CEO of Garuda for corruption and he was jailed for 8 years. In Malaysia, the two criminal known as AirAsia’s executive 1 and 2 are allowed to run amok in the corporate world!

For more detailed backgrounds and Grounds of Judgement of UK Crown Court re the said Airbus International Bribery Scandal. Please see paragraph 39-40 of the UK Crown Court Approved Judgment re: Findings against the 2 criminals known as AirAsia executives 1 and 2 at the end of the posting in HERE.

SC Probe On The two Criminals

After more than two years the Chairman of SC is still playing dumb / BUAT BODOH in the hope that the Rakyat will forget about the probe, HERE. For the information of Syed Zaid Albar and the like, Malaysians will not let you and your gang to sweep the RM200 mil bribery scandals under the carpet! Syed Zaid Albar please come clean and stop helping your friends!

With the UK Crown Court Judgement, which is in public domain, and after more than two years Syed Zaid Albar and SC are literally incapacitated for reason best known to him and his cronies in SC to announce the result of the so-called probe! Such inordinate delay will only give rise to the conclusion that that there was a massive cover up by SC and other authorities.

Syed Zaid Albar if you feel that you cannot perform the task as chairman of SC as the international bribery scandal may have involved your friends or whatever reasons please for the sake of the IMAGE and INTEGRITY of the Malaysian Security Commission RESIGN as chairman of SC. Let others who are more able and willing to protect the interests of the institution and investing public to head the SC. As the saying goes, Syed Zaid Albar: IF YOU CANNOT STAND THE HEAT, PLEASE LEAVE THE KITCHEN!

Harapkan Pagar, Pagar Makan Padi!


The two SUPREMOS in AirAsia. Left: Tan Sri Tony Fernandes Right: Datuk Kamaruddin Meranun.

It must be noted that from January 2020 until now both the two supremos in AirAsia Group of Companies, Tan Sri Tony Fernandes and Datuk Kamaruddin Meranun, who was merely fined by SC for RM3.5 million for insider trading, also refused to lodge a police or MACC report against the two criminals known AirAsia executives 1 and 2 who have been found by UK Crown Court to have received RM200 mil bribes from Airbus.

Bank Negara Malaysia Should Also Clarify

Since the Airbus Bribery Scandals were widely reported internationally, Bank Negara Malaysia should also clarify whether the said two corporate criminals known as AirAsia executives 1 and 2 had brought back the said RM200 mil bribes that they have received from Airbus into Malaysia.

Senator YB Tengku Zafrul To Take Action Against Syed Zaid Albar

Lets hope that the specially handpicked by the power that be and highly competent Minister of Finance, YB Senator Tengku Zafrul, will demand for immediate answers from Syed Zaid Albar and make a public announcement on the SC probe against the 2 CORPORATE CRIMINALS known as “AirAsia Executives 1 and 2″.

Stay Tuned!