KOTA KINABALU: Sabah Progressive Party (SAPP) Youth Exco Clement Lee has demanded an explanation from Deputy Chief Minister Datuk Dr Yee Moh Chai and the Saham Amanah Sabah (SAS) investment team on the loss of RM20 million in 2011 investment as stated in the P&L statement ended Dec 31, 2011.
Lee also demanded an explanation as to what is "Realised Loss on sale of Investment", amounting to RM31 million (to be exact RM31,124,228.00) as stated on Page 22 of SAS Annual Report 2011.
He said there was no detail provided for this "Realised Loss on sale of Investment" in the report.
He is also questioning the unprecedented interim income distribution for 2.5 months.
"The biggest question now is why has SAS remained stagnant even though after 14 years of the Asian Financial Crisis as other unit trust and stock prices have recovered to their original value or higher?
"Additionally RM200 million funds were injected into SAS from the Umno led-BN government few years ago, " he said.
Lee lamented that SAS investors strongly demanded an explanation from Dr Yee who used to be vocal and active in championing the SAS issue.
Daily Express
Wednesday, March 21, 2012
Page 3
SAS has reported a gross income of RM27,155,786 as at March 15 this year. Income derived from SAS’s investment in the stock market (84.61%), dividend income (5.32%), money market (1.18%) and forex forward contract (8.89%).
ReplyDeleteAfter deducting manager’s expenses and provision for taxation, the distributable income amounted to RM24,109,627. Saham Sabah Berhad Chairman, Datuk Maijol Mahap declare an interim income distribution of 1.9% or 1.90 sen net per unit for 2012.
ReplyDeleteThis income distribution would involve a total payment of RM23,480,162 and the calculation was based on 1,235,798,000 units held as at March 15 this year.
ReplyDeleteThe total income distribution represented a yield of 5.89% investment return based on the net asset value (NAV) per unit of RM0.3228 as at March 15.
ReplyDeletePerformance for the first two and a half months of this year had been positive with the Bursa Malaysia FBM KLCI closing higher at 1,579.38 points, which represented an increase of 3.18% in comparison to 1,530.73 points as at December 31, 2011.
ReplyDeletePerformance of MSCI All Country Asia ex Japan index increased by 11.73%.
ReplyDeleteIncome distribution would be paid to 53,998 investors comprising 46,089 individual investors (85.4%), 7,407 investors under the Hardcore Poor Scheme (13.7%), 455 investors with bank loans (0.8%) as well as corporate investors (0.1%).
Income distribution would be paid through the issuance of warrants by April 15 this year.
Investors under the Hardcore Poor Scheme will be paid cash through their Amanah Saham Bumiputra (ASB) accounts. The amount paid to PPRT investors, he said, would be determined at a later date once the PPRT accounts have been updated.
Since its inception 17 years ago, inclusive of the interim 2012 distribution, SAS had declared 12 distributions involving payments amounting to RM404,119,371 net or 71.22%.
ReplyDeletePerkara tu untuk melupakan apa yang sudah YTL buat dalam SAS. Rakyat pun bukan senang diputar belitkan.
ReplyDeleteBiasalah orang ingat diri tu pandai sangat... Tapi tak mengapa saya yakin rakyat cukup matang untuk menilai hal ini.
DeleteYTL pun perlu perjelaskan apa dia lakukan pada SAS sebelum ini.
DeleteSaya baca komen di sini semua ada nombor... Nah main dorang, Sabahan pintar bah. Ingat sennag mau kelentong ka!!
ReplyDeleteKalau berani bagilah penjelasn. Kalau ada hitam putih lagi bagus. hehehe
ReplyDeleteKita tunggu dan lihat sajalah nanti apa penjelasan yang diberi.
Delete"why has SAS remained stagnant even though after 14 years of the Asian Financial Crisis as other unit trust and stock prices have recovered to their original value or higher?"
ReplyDeleteApalah jawapannya? Saya pun mahu tahu.
kalau SAPP kena tanya pasal SAS, jangan harap dia jawab melainkan menuding jari kepada pihak lain..
DeleteFor me SAS management must give the explanation about this loss. But if we looking SAS already make improvement for this year. Because we can see that Jan-March SAS get the gross income RM27m. So this mean SAS try to proven that SAS can solve the mistake past.
ReplyDeleteSAPP actually worried about the improvement in SAS under Musa Aman tenure because it will proved that SAPP is a failure for unable to solve the problem under YTL tenure..
Deleteand SAPP should also demands explanation from YTL since the SAS loss also occurred during YTL tenure..
ReplyDelete