SAPP demands Datuk Dr. Yee Moh Chai to explain Why SAS Price has not appreciated even after the injection of RM200 million by UMNO Led-BN government in recent years?
SAPP Youth Exco Clement Lee demands an explanation from Deputy Sabah Chief Minister, Datuk Dr. Yee Moh Chai in explaning why the SAS price has not appreciated even after injection of RM 200 million by UMNO led-BN government in recent years but instead, disappointingly it incurred a significant loss of RM 20 million in 2011 investment as reported in SAS Annual Report 2011.
In comparison, BURSA index has increased more than 80% from 859 points in 2009 to 1569 points in today 2012, right after the RM 200 million injected into SAS by UMNO led-BN government.
Yee was once very vocal and championed the SAS issue by accusing former Chief Minister as the cause of SAS downfall during the Asian Financial crisis in 1997-1998, but why is he now missing in action and keeping mum and quiet about it?
Furthermore, SAPP has made few reports to the authorities concerned to demand an investigation of the cause of the downfall. Two SAPP YBs have also requested the Dewan Undangan Negeri speaker to move the motion in Sabah State Assembly to issue White Paper to find out the truth but was rejected by the most vocal and active Datuk Dr. Yee Moh Chai; he himself who supposedly championed the SAS issue. Does he sincerely want everyone to know the truth or just want an audience to listen to his slandering against former Chief Minister by twisting the truth?
We reckon Yee should pursue and assist to solving the problem affecting over 50000 SAS investors instead of resorting to restlessly and relentlessly accusing the former Chief Minister. Such an act merely serves to gain political mileage. He would later keep quiet and pretending not in the know. The people of Sabah need a minister who could solve problem, not someone who only knows how to complain without further solid actions to follow.
If not, Yee should therefore apologize to the people of Sabah and gracefully resign from his ministerial position as he has been ineffective in and incapable of taking firm actions towards solving problems, especially those that are close to people's hearts.
BURSA (formerly known as KLSE) index dropped to 279 points which was the lowest point in Malaysian history during the Asian Financial crisis in 1997-1998, causing SAS shares to drop drastically and none of the stock counters in BURSA could escape from this tumble during the fiasco.
After 14 years since 1997 Asian Financial Crisis, BURSA index has gone up to 1500+ points as of March 2012 and recorded an increased about 570% from 279 points in 1997-1998. Why there is no major Financial Crisis in Malaysia from 1998-2011 and yet there are no signs or indications of positive movement for SAS until today in 2012? Clement Lee asked.
This is proof enough that the UMNO led-BN government is simply incompetent and useless.
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.
I always disagreed that SAPP keeps trying to ignore the fact that they are not at all involved in the SAS issue, they used to be in the government therefore they have the responsibility as well.
ReplyDeleteWithout the injection of the RM200 million into the SAS, we as the investors would not thought to see any dividend at all after the SAS downfall.
ReplyDeletePolitic gimmick to make people of Sabah forget about YTL and SAS.
ReplyDeleteSAS jatuh ketika YTL menjadi KM, dia yang seharusnya bertangungjawab. SAPP mmg tidak boleh dipercayai, SAPP hnya hebat berkta-kata sahaja.
ReplyDeleteIn 1996, the then Sabah Chief Minister Yong Teck Lee persuaded 55,000 Sabahans to invest in SAS – Saham Amanah Sabah – convincing them that it was a great buy which would multiply its value twice or thrice its original price of one ringgit!
ReplyDeleteI don't think YTL will admit his mistake.. as always, he will blame other instead of apologize to the people who suffered from the loss of SAS during his tenure..
DeleteBenar..Jika dibandingkan dengan apa yang berlaku pada SAPP dulu lebih teruk. Sekarang cuba membangkitkan isu ini. Seperti makan tuan sendiri pula.
ReplyDeletedia mau tutup kesilapan la tu.. atau lebih tepat cuci tangan dulu sebelum diberikan peluang untuk kali kedua..
DeleteClement Lee, you should demand an explanation from your chief leader for the loss of SAS during his tenure as chief minister of Sabah..
ReplyDelete