UMNO Youth Deputy Chief Khairy Jamaluddin, son-in-law of Malaysia Prime Minister, has sold his controversial stake ECM Libra Avenue Bhd. and suffered a lost of ~RM200,000. [Utusan Malaysia]

Khairy claimed that his intentions to sell the shares are to focus on politics and to protect the shareholder interest from being jeorpadized by his personal controversy. Sounds like a noble act but it’s always questionable whether his intention is to protect the company or his father-in-law, or just to save his own political future?

The acquisation of ECM Libra shares at the first place is a big question mark. Why on earth would a financial institution funded Khairy to buy their own shares? It might be 100% legal by the law, but it just doesn’t make any sense other than to relate to Khairy’s special identity.

And the fact that ECM Libra involvement in the merger with Avenue Capital Resources Bhd just a couple of months after Khairy obtained his shares make the situation looks more peculiar.

You got to admire Khairy’s as a publicist though, he gave some noble reasons and stories for selling his shares.. and I wonder how many actually buy into it?

Khairy said that he rejected higher offers because he wanted to make sure that his shares are sold to Malay owned company. Sounds like a savior for Malays, but my opinion is more to discrimination against others. Ok I am fine with it, just don’t blame others for doing the same thing in the future to protect their own races’ interest.

Khairy also said that he wished his action will ‘clear the already clean situation’ and hope that the society that’s interested with all ‘those’ news will try to get the right picture in the future before believing in an issue.

Khairy berkata, tindakannya itu diharap akan ‘memutihkan lagi apa yang telah sedia putih’ dan berharap masyarakat yang berminat dengan berita-berita seumpama itu akan berusaha mendapatkan gambaran sebenar di masa hadapan sebelum mempercayai sesuatu perkara.

His last statement makes me think twice before writing this article, and the more I think the more I find him a hypocrite. Questions still remain unanswered, Mr. PM’s son-in-law.

8 Responses to “Khairy Jamaluddin sold his ECM Libra stakes, questions answered?”

  1. kenshin Says:
    August 15th, 2006 at 10:55 am

    rm200k lost, how to cover ah? have to ask father in law to cover again ah? i think taiwan president also have a case like this, his son in law is using his special relationship and buy shares in a company, and then sue for fraud etc etc.

  2. Jee Says:
    August 15th, 2006 at 1:14 pm

    From what I know, Khairy’s family is not bad itself. Also note that Khairy might not have to pay off his loan straight away after his sale, he can arrange something like monthly payment, like credit card debts. Till the end he will still have to pay off the RM200,000 but he should have plenty of time to do so.

    As for Taiwan’s President case, the son-in-law’s family buy shares in a company and the company got some government contracts later on and thus the son-in-law is being investigated.. not sure if any lawsuit has been filed.

    We will have to see how much conflict of interest is involved in Khairy’s ECM Libra case, and whether there’s any insider trading involved.. but who knows what the Malaysia authorities are going to do, Khairy is after all the son-in-law of their big boss.

  3. kenshin Says:
    August 16th, 2006 at 12:39 am

    khairy jamaluddin got family business? can be true also, if no family background pak lah wouldn’t allow his daughter to marry him. and you got your point on loan repayment, i am expert with it, my credit card debts, paiseh paiseh.

  4. Jee Says:
    August 16th, 2006 at 11:21 am

    What I knew was that Khairy’s family are quite influential back in Negeri Sembilan.. from Malaysia Today Khairy’s late father was a diplomat.

    Take care of your credit card debts dude, don’t let it row bigger and bigger like a snowball.

  5. khaizum Says:
    August 22nd, 2006 at 2:30 pm

    hello people.. that is his choice whether to sell it or not.. we have no right to say anything.. if he lost RM200k, that his money… and that is his problem, here to get the money o pay his debts… not yours… i dun think he’s that bad.. he’s kinda cute you know…. very intelligent as well… hehe…

  6. Jee Says:
    August 22nd, 2006 at 2:44 pm

    Well khaizum.. I don’t really mind Khairy losing his RM200k, I’m just questioning the ethic behind his initial purchase, it just doesn’t make much sense and there’s so much of conflict in interest.

    Cute? Don’t think so.

    Intelligent? Maybe.. but Khairy has to start using his brain wisely, he’s playing with fire with lots of sensitive issues.

  7. malim Says:
    March 15th, 2008 at 3:56 am

    hi guys..something to share…

  8. Justin Says:
    April 3rd, 2008 at 6:18 pm

    Simply put. Who bought the shares? If he did a cosmetic sale by selling to a related party or a 2 dollar company it doesnt matter. He just owes himself money lol.

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