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those were the days October 23, 2008

Posted by youppe in personal.
3 comments

i’ve been pretty busy lately, hence this is belated. anyway, especially to all my brothers of 9600, check out the link below;


>> Video Tribute to Urban Remnants 2000 <<

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ps… the video was a wonderful effort by Jaq/Diana, Al’s gf, of course with some help from the guys. especially on the photos. yep, it took a girl to make this one for us, owh are we all really that malas??? (errr… rephrasing, bukan malas, tp ‘busy’ ok, ahaha… konon-kononnye la..)

pss… it seemed like it was not that far back in memory, when a bunch of weird-looking nerdy kids were thrown together by their parents to an old boarding school in Kuala Kangsar. we were 12 years old, man!!! that small!!! ahaha… life was much easier when you’re young, when nothing mattered. when everything’s just fine. the endless days and the sleepless nights, the laughs, the sweat, the blood and tears… the good old days. and now with some of us has gotten married and working with big corps and living the ‘life’ our parents told so much about when we were young, it all seemed so far back in time. i believed we turned out alright, everybody in their own special way. we’re a bunch of old boys complete with the trademark ‘perut old boy’ now, but still, those were the days… aite?

psss… i want to just post the video in here, but i can’t find a way to upload a video in WordPress!! (saya agak buta IT sebenarnye..) anyway i’m linking you guys to Diana’s original post in her blog. enjoy!!!!

pssss… say thanks to Diana. (thanks Jaq!!!!!!)

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the end is the beginning of the end October 14, 2008

Posted by youppe in business, finance, politics.
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wow… it has been a long time. what’s new?

Pak Lah’s impending departure had left people with vested interest scrambling left and right, trying to save their own neck or jockeying for new allegiances. as with the political side of the storm, a similar ruckus has been going around in Corporate Malaysia for a while now. Kalimullah Hassan’s departure from NSTP warranted a headline that screamed “The Exodus Begins…” by online news portal The Malaysian Insider, which suggested a few more of his ilk would follow suit in the few months to come. labelled Pak Lah’s “no. 1 spin doctor” by none other than Dr. Mahathir himself for his role in the media group, Kalimullah however is still the chairman of ECM Libra Financial Group, which has also sparked controversy in the past for some shady dealings. his (final?) column in NST, a passing tribute to Pak Lah, would certainly make some people very unhappy, you can read it here (It Doesn’t Pay to be a Nice Guy by Kalimullah Hassan). the next day, Patrick Lim’s resignation as Equine Capital Bhd chairman only warranted a small piece in The Star Saturday, but it was a long time coming ever since his proposed mega-billion Penang Global City Centre (PGCC) was scrapped down the drain when the Opposition took over in Penang. it was also rumored that the resignation of Shaipudin Shah Harun, former CEO of MoF-owned Sykt Prasarana Negara Bhd (SPNB) has got to do with the ministry swap between Pak Lah and Najib Razak. former Pos Malaysia Bhd CEO Idrose Mohamed has taken over the helm at SPNB, but not without some doubters, especially at a time when a huge sum was granted by the government in Budget 2009 for SPNB to “improve the local public transportation system”. coincidence?

other rumours are either not confirmed or not yet in the press (known close associate to Khairy Jamaluddin, Ethos & Co. principal Omar Ong, joining Najib’s office?), so i can’t write about it here, though i’m itching to, ahaha. it sure will get even more interesting in the months to come though. (but hopefully, not too interesting, if you know what i mean)

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anyway, that’s not my main point for today… (after all that, huh? ahaha…)

i’ve been following the development in Iraqi oil industry very closely ever since 9/11 was made a justification for the US to topple Saddam Hussein and started the ‘War-for-Oil’. mind you, Iraq has the second largest proven oil reserves next to Saudi Arabia, and yet it is also the least exploited amongst the top producing nations. so make no mistake, Iraq is the ultimate “Oil Bonanza” of the modern world defined by worldwide resource nationalization. but with Saddam Hussein at the helm, this “Oil Bonanza” would be forever out of reach of Western-linked oil giants such as ExxonMobil, BP, Royal Dutch Shell, Chevron, ConocoPhillips, etc., trickling down to the services sector to the likes of Halliburton and their ilk. with producing nations ever more concerned about their resource’s exploitation by foreign companies, the hunt for new reserves to counter dwindling production (which equals profits) has got even more challenging for these oil giants.

so when the security situation is getting better and post-war Iraq is finally opening up its giant oilfields for international bidders for the first time in decades, the usual suspects was at the forefront of the long queue, giving conspiracy theorists a hell of a day at the office. Hussain Shahristani is the man of the moment, being the Oil Minister for the puppet regime installed by the Americans in Iraq, and he’s supposedly has been months in negotiations with the oil companies vying for the prize. when it was finally announced (some time last month) that the first Iraqi oil deal post-Saddam era would be with Chinese state-owned CNOOC Ltd for the Ahdab oilfield, it didn’t generate as much noise as it would if the first major deal would go to, say ExxonMobil. but it got much, much louder when Shell inked a no-bid gas deal in Basra for USD$ 4 billion with a state-owned company. a spoil of war for Shell, perhaps? it was expected that major deals are to be announced for ExxonMobil and Chevron, two of President Bush’s biggest corporate campaign contributor, as well as for BP, Tony Blair’s equivalent of the two, following the meeting in London with Shahristani (refer news attachment below). with Iraq’s biggest oilfields still up for grabs, they must be licking their lips in anticipation.

war on terror? weapons of mass destruction? sound more like outright rape and plunder to me.

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Baghdad puts 40 billion barrels up for grabs

News wires

Iraq will kick off the largest oil asset sale ever today, as Oil Minister Hussain Shahristani putting 40 billion barrels of recoverable reserves up for grabs at a meeting in London.

BP, Shell and ExxonMobil are all expected to attend today’s meeting.

Iraq is offering access to eight fields which together represent about 40% of its reserves.

Shahristani is expected to unveil what have been termed “risk service agreements” that could run for up to 20 years, with formal offers to be submitted by next spring and agreements signed in the summer.

However, some analysts are cautious about the deals on offer.

Heinrich Matthee, a senior Middle East analyst at the specialist risk consultant Control Risks Group, told London newspaper the Guardian:”Currently it is unclear which party in Iraq is authorised to award a contract and at the same time to deliver its side of the bargain.

“Any contract with an independent oil company will be subjected to opposition and possible revision after pressure by resource nationalists.”

China National Petroleum Corporation has already agreed a $3 billion deal with Baghdad covering the Ahdab oilfield.

Anglo-Dutch supermajor Shell has a deal, worth as much as $4 billion, to set up a joint venture with the South Gas Company in Basra.

The Shell deal sparked controversy in Iraq.

Issam al-Chalabi, Iraq’s oil minister between 1987 and 1990, asked why there had been no competitive tendering for the gas-gathering contract and claimed it had gone to Shell as the spoils of war.

“Why choose Shell when you could have chosen ExxonMobil, Chevron, BG or Gazprom?” he said.

“Shell appears to be paying $4 billion to get hold of assets that in 20 years could be worth $40 billion. Iraq is giving away half its gas wealth and yet this work could have been done by Iraq itself.”

Baghdad has said it aims to increase crude oil production from 2.5 million barrels a day to 4.5 million bpd by 2013, but faces internal opposition from regional governors and political opponents.


Monday, 13 October, 2008, 08:04 GMT | last updated: Monday, 13 October, 2008, 08:04 GMT

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“.. change will not come if we wait for another person or another time. we are the ones we’ve been waiting for. we are the change that we seek .. “

– barack obama

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