Danial Rahman

| Loves cats | Writes Sometimes.

[The Futurizts @TheFuturizts]

I read through the 222-page SST document.

Here’s (almost) everything the current govt considers as “non-essentials”.

🧵

[Nazrihamdan @nazribiztalk]

KWSP dan Saham MAHB

1. YB Dr Wee Presiden MCA kritik KWSP mengenai pelaburan dalam MAHB. Katanya, kenapa KWSP jual saham pada RM 6.74 dan kemudian beli balik pada RM 11 melalui General Offer (GO).

2. Pertama sekali bila saya terbaca ulasan Dr Wee ni, kesimpulan awal saya adalah samaada beliau atau penasihat beliau yang bangkit pasal isu ni tak faham apa itu GO dan kenapa harga GO normally diletak di atas market price.

3. Jadi, komen dari Dr Wee ni senang buat orang triggered sebab orang mudah marah KWSP jual pada harga rendah dan beli balik pada harga mahal. Senang cakap, orang senang dapat persepsi bahawa KWSP rugi.

4. Kalau kita tengok carta harga saham MAHB dia tak cecah pun RM 11. Tapi kenapa bila KWSP beli saham ni melalui GO harganya RM 11 dan soalan kedua adalah, adakah harga RM 11 ni wajar?

5. Sebelum kita pergi mengenai saham MAHB ni, kita kena faham dulu apa isu yang lebih besar pasal MAHB ni. Isu MAHB ni dah wujud sejak tahun 2013 lagi. Rangkaian lapangan terbang MAHB telah mengalami kekurangan pelaburan, baik dalam mengekalkan aset teras dan sistem serta dalam projek baharu untuk mengembangkan kapasiti. Sepanjang lima tahun lepas, MAHB telah membelanjakan hanya RM1.3 bilion berbanding Lapangan Terbang Changi sebanyak RM18.9 bilion, RM8.1 bilion oleh Angkasapura I dan II Indonesia dan RM6.8 bilion oleh

6. Adalah mustahil MAHB dan airport Malaysia boleh bersaing tanpa pelaburan modal yang besar. Daya saing akan terus morosot. Jadi, MAHB perlukan kemampuan kewangan nak upgrade airport mereka.

7. Penstrukturan semula milikan saham MAHB akan membolehkan mereka bersaing semula di peringkat global dengan kemampuan kewangan yang lebih besar.

8. Sebenarnya, selepas KWSP jual saham MAHB, boleh saja mereka tak beli balik. Tapi disebabkan perancangan kerajaan untuk naikkan semula daya saing MAHB, KWSP perlu membuat GO kepada MAHB.

9. GO bukanlah proses trade saham macam biasa. Ia adalah dibuat melalui institusi untuk membolehkan mereka mengawal syarikat itu. Jadi, bila KWSP nak beli saham MAHB, mereka kena buat GO di atas harga pasaran untuk membolehkan pemegang saham MAHB bersetuju dengan tawaran ini.

10. Di sini, kita perlu faham beza harga nilai semasa dan premium. Walau harga semasa itu menunjukkan harga pasaran, tapi ia tak bermaksud ia adalah harga yang pemegang saham sanggup terima untuk lepaskan pegangan saham mereka. Untuk membuatkan tawaran ni menarik, premium akan ditawarkan. Jadi ia seolah bagi insentif kepada pemegang saham untuk lepaskan pegangan saham mereka.

11. Soal seterusnya, kalau ikut cakap YB Dr Wee ini merugikan KWSP bila beli pada harga RM 11 sesaham melalui GO. Benarkah begitu?

12. Pada 2024, kenaikan harga saham MAHB ialah 49.5%. Ini berbeza dengan 10% pada sebelumnya. Jadi RM 11, adalah wajar jika kita ambil kira harga saham MAHB di tutup pada RM 7.36 pada hujung 2023. Nilai RM 11 ini juga dipersetujui oleh 14 penganalisis penyelidikan ekuiti berlesen yang pada masa ini meliputi MAHB (yang tidak termasuk HLIB dan UBS), yang masing-masing mempunyai harga sasaran yang sama ada lebih rendah daripada atau bersamaan dengan RM11.00, dan kebanyakannya juga secara jelas mengesyorkan agar pemegang saham menerima tawaran pada harga RM 11.

13. KWSP pun dah buat statement pasal ni. Mereka cakap pembelian saham MAHB pada harga RM 11 sesaham ni sejajar dengan objektif pelaburannya yang lebih luas dan bertujuan menjana pendapatan yang diperlukan untuk pembayaran dividen sepanjang tahun kewangan dan ia adalah pelan strategik jangka panjang.

14. Lagi satu, KWSP juga ada cakap mereka ada dasar ‘Chinese Wall’ untuk uruskan pelaburan. Apakah maksud Chinese Wall? Ia mencegah daripada berlakunya insider trading agar maklumat sulit tidak digunakan untuk keuntungan peribadi atau institusi.

[Azizul Farhan @AzizulFarhan2]

"Sunway Lagoon Asalnya Lombong Bijih Timah?"

Pernahkah anda terfikir macam mana sebuah taman tema terkenal seperti Sunway Lagoon sebenarnya berasal dari sebuah tanah terbiar bekas lombong bijih timah?

[Astro AWANI @501Awani]

"Due to the need to integrate systems, the Govt needs some time. The big question now is how do you get to the 85% when it comes to the reallocation of RON95 subsidies?" @Melisa_Idris speaks to @danial_ari @asli_myofficial #Belanjawan2025 #ConsiderThis https://t.co/mSGTuVxWNy

[Astro AWANI @501Awani]

"With the expansion of SST, it’s mostly about consumer goods, things like salmon avocados. How big will that be in the grand scheme of things? @Melisa_Idris speaks with @danial_ari @asli_myofficial & @dorisliew_ @IDEASMalaysia #ConsiderThis #Belanjawan2025 https://t.co/mSGTuVyuD6

[Melisa Melina Idris @melisa_idris]

Budget 2025 has been unveiled—now the crucial evaluation begins. What does this budget get right, and where did it fall short? Tonight on #ConsiderThis I ask @danial_ari @asli_myofficial & @dorisliew_ @IDEASMalaysia if #Belanjawan2025 successfully balances progress and prudence.

[Asian Strategy & Leadership Institute (ASLI) @asli_myofficial]

Why should Malaysia welcome refugees? Watch the full episode of ‘ASLI Thought Experiment Series: Malaysia’s Humanitarian Response to Injured Palestinians’ on our Instagram @asli_myofficial!

🌱 Empowering Leaders, Advancing Societies.

Follow us: https://t.co/wG1xwipoFr

[Asian Strategy & Leadership Institute (ASLI) @asli_myofficial]

In this week's episode of "Thought Experiment," we delve into the Malaysian government's decision to welcome Palestinian refugees for medical treatment 🕊️ 🍉

Watch the full episode here: https://t.co/f7VprsnSXX

[Danial Rahman @danial_ari]

🤯

[Interesting STEM @InterestingSTEM]

AI has gotten out of hand.

10 wild examples:

(No. 5 is actually mad🤯)

1.

[Melissa Goh @MelGohCNA]

While Meta’s apology for removing PM Anwar’s posts on slain Hamas leader citing operational error was deemed unprecedented, Mr Anwar is said to have accepted the apology according to communications minister Fahmi Fadzil. This comes as Malaysia is introducing a new licensing law.

[António Guterres @antonioguterres]

I have repeatedly called for the immediate & unconditional release of all hostages & a humanitarian ceasefire in Gaza.

That is the only way to massively scale up aid delivery.

This must be the foundation for concrete and irreversible steps towards a two-state solution.

[William Dalrymple @DalrympleWill]

On the contrary Ben, I spent several years travelling on foot around the region recording the testimonies of the minorities of the Middle East in this award-winning book. It records first hand testimonies from the Yezidis, the Copts, the Maronites, the Armenians, the Kurds and the Palestinian Christians as well as many Israelis and Jewish Egyptians. I've also made an entire Channel 4 documentary series on the Sufis of the region. That is exactly why, like your sister, I am so incensed by the mass murder currently underway in Gaza. Do dm me your address and I'd be happy to mail you a copy if you'd like to learn a little more on this subject.

[William Dalrymple @DalrympleWill]

Ben I know you're not a historian, and have never visited the West Bank or Gaza, so are not very clued up on how five million Palestinians are currently in a state of stateless serfdom under Israeli colonial occupation, suffering daily dispossession, abuse, arbitrary arrest, but here is a brief note to clarify what's going on here as you seem to be a little confused as to who the imperialists are here.

In 1922, at the first census during the British mandate, the population of Palestine was roughly 85% Palestinian and 15% Jewish. In 1947, 750,000 Palestinians were ethnically cleansed in order to create the state of Israel. Their villages were then bulldozed and erased. Here is Moshe Dayan describing what happened next. If you'd like a reading list to gin up on the history I'd be delighted to provide one. You're welcome.

[Sky News @SkyNews]

"If you believe that too many people are being killed, maybe you should provide less arms."

European Union foreign policy chief Josep Borrell criticises the US's rhetoric on protecting civilians in Gaza while it amps up military aid to Israel.

https://t.co/SxGhbpiF7Y

[António Guterres @antonioguterres]

Everyone in Gaza is hungry.

1.7 million people have been displaced.

The humanitarian system in collapsing.

I call for rapid, safe, unhindered, expanded & sustained humanitarian access throughout Gaza.

[Mark Ruffalo @MarkRuffalo]

Dear America, your soul is calling…

Article: The west’s complete contempt for the lives of Palestinians will not be forgotten https://t.co/h789TSK6AA

[Husam Zomlot @hzomlot]

100 days of international inaction.
100 days of double standards.
100 days of Israel’s genocidal aggression.
23,000 innocent people killed including 10,000 children.
Thousands more under the rubble.
Nearly 2 million people displaced, starved and still being bombed.
70% of Gaza’s housing stock destroyed.
Gaza’s civilian infrastructure -- hospitals, offices, sewage treatment plants, churches, mosques, bakeries, agricultural land – all gone.
You still wondering whether this is a #genocide or not?
You still wondering if Israel violated international law?
One of humanities lowest points ever.

[Elizabeth Lee @elee618]

“Be humble there’s nothing wrong; be respectful, don’t be afraid of saying sorry, always keep learning, consult & never work in silo” - Tan Sri Sir Jeffrey Cheah at the @SunwayGroup Executives Development Programme in collaboration with @SunwayU @SunwaySBS.