SAPP Youth Exco Youth Clement Lee is demanding an answer from the UMNO-led BN government to explain, who proudly boasted that they have RM 3 billion of reserved funds in the state coffer but why, today in 2012, the price of SAS (Saham Amanah Sabah) has remained stagnant (RM0.32 as at 17 Feb 2012, extracted from www.sahamsabah.com.my) 14 years after the Asian Financial Crisis from 1997-1998?
Furthermore, Datuk Dr. Yee Moh Chai has restlessly accusing the former Chief Minister who caused the downfall of SAS from 1997-1998 but why the current Chief Minister could not even to lift the SAS price back to its original value after 14 years since the market economy has been recovered back many years ago? Clement Lee asked.
Based on the history fact of market statistics, during the Asian Financial Crisis from 1997-1998 (http://www.bursamalaysia.com), almost all of the Unit-Trusts and Stocks prices at BURSA (Formerly KLSE) had dropped drastically and none could escape untouched from the crisis.
That caused plenty of hardship and nightmare to the 50,000 SAS investors, making them poorer or even bankrupt, when some of them took loans from banks and others, their life savings.
My question to the UMNO-led BN government is, why are all the prices of Unit Trusts like Amanah Saham Selangor (Asas), Amanah Saham Johor (ASJ), Dana Johor, Amanah Saham Kedah, Amanah Saham Darul Iman (Asdi), and such other stocks listed in BURSA have been made to recover to its original value after the Asian Financial Crisis from 1997-1998 but yet SAS has been left to remain stagnant? Clement Lee asked.
SAPP is committed to solving this problem faced by the over 50,000 investors that the BN-led government could not, even after 14 years. SAPP will issue the necessary White Paper to find out the root-cause of the downfall of SAS and reveal the truth to the public when we form the Sabah state government.
We will also assist to elevate SAS to its original value, or even let it appreciate higher, to a value it rightfully so deserves.
Yong Teck Lee played the biggest role in the SAS downfall along with his buddy Ambrose Lee.
ReplyDeleteYTL harus memberi penjelasan yang secukupnya berhubung kejatuhan SAS sewaktu tempoh pentadbirannya sebagi KM.
DeleteSAPP will not fool the Sabahans twice after what happen, they will not regain the people's trust.
ReplyDeleteSAPP telah membuktikan yang mereka memang tidak layak untuk jadi pemimpin di sabah dengan apa yang berlaku sebelum ini.
Deletetidak mungkin SAPP berpeluang lagi mentadbir negeri ni.
DeleteSAS has achieved a gross income of RM64.286 million at financial year ended Dec 31st, 2010 with main gains coming from SAS' investment in the stock market (76.9%) followed by income from dividends at 13.7 per cent, and financial market earnings of money market (5%), sale of bonds (2.7% and Forex Forward Contract (1.7%). After deducting expenses and taxes, SAS' distributable income amounted to RM46.358 million.
ReplyDeleteClearly Clement Yee failed to see the connectivity of the BURSA (which in turn has a impact to SAS) and global market particularly with relations to the Euro Crisis as well as other major event that has a critical impact on the Global market.
ReplyDeleteBloomberg calculated an almost $6.3 trillion dollar decline in global markets in 2011. Its a financial Miracle that BURSA (as well as the Asian Financial sector) was not critically effected.
ReplyDeleteComing back to SAS, At least it did not plummeted. It is no easy feat given the state of the global economy last year.
ReplyDeleteAnd why is Clement Yee is still in a Time Limbo back in the 90's Asian financial crisis? Has he not noted the progression after that period?
ReplyDelete"SAPP is committed to solving this problem faced by the over 50,000 investors that the BN-led government could not, even after 14 years. SAPP will issue the necessary White Paper to find out the root-cause of the downfall of SAS and reveal the truth to the public when we form the Sabah state government."
ReplyDelete-AND HOW WOULD YOU (SAPP) plan to do this? So far no DETAILS has been disclose for this matter from your side.
SAPP kan hanya tau cakap sahaja. Janji kosong.harap rakyat jangan terpedaya.
DeleteSAPP juga dahulu menyebabkan SAS rugi teruk.
ReplyDeleteSAPP mmg pandai dolak dalik.
ReplyDeleteSAPP hanya tau cakap kosong sahaja, janji manis yang belum tentu dapat di tunaikan.
ReplyDeletethey are the one who create the problem and now saying that they committed to solve the problem..
ReplyDelete"..why the current Chief Minister could not even to lift the SAS price back to its original value after 14 years.."
ReplyDeletehow can you say that when the state govt lead by Musa Aman managed to bring back rm3 billion of reserve funds, and SAPP managed to bring a huge lost to this state in only two years??
How funny is that?? Haha
DeleteNow SAPP using SAS issue for their political gain?
ReplyDeleteBaguslah begitu saja yang penting tidak rugi sudahlah.
ReplyDeleteSAPP tidak perlu berlagak hero dalam SAS.Sendiri mahu ingat bila terlalu yakin sehinggakan kerugian terjadi.
ReplyDeleteTidak tidak perlu terlalu tamak. Biar sedang-sedang yang penting stabil.
ReplyDeleteJika dibandingkan pentadbiran Yong tidak sebaik mana pun. Sebaliknya yang berlaku. Tidak disangka SAS mengalami perkara sedemikian. Yang penting SAS stabil dan dapat bertahan selam 14 tahun.
ReplyDeleteSAPP seperti tidak ada isu lain buat masa sekarang seperti mahu menjerat pemimpin mereka sendiri mengaitkan cerita mengenai SAS.
ReplyDelete