This post will serve to show the real truth from the spin and excerpts from “Malaysian Economic Hitman” Tong Kooi Ong’s statement made on The Malaysian Insider at : http://www.themalaysianinsider.com/sideviews/article/the-log-of-the-mobile-chat-is-fake-tong-kooi-ong

Malaysian Economic Hitman Tong Kooi Ong is attempting to divert from the real issues in question affecting everyday Malaysians by manipulating The Edge Media Group to report ultra negative and biased news for his personal gain and loss for millions of Malaysians!!!

The real issues affecting Malaysians are:

1. Is “Malaysia Economic Hitman” Tong Kooi Ong shorting the RM for his personal gain? His USD1b or more position before considering his multi billion hedge fund friendlies. For more information on shorting see previous expose (https://malaysianexpose.wordpress.com/2015/01/28/how-tong-kooi-ong-is-attempting-to-break-bank-negara-and-crash-the-rm-2/)
2. Is “Malaysia Economic Hitman” Tong Kooi Ong using media empire, The Edge Group to purposely write negative news to drive all investors out of Malaysia, create negative sentiment in Malaysia, cause the RM to drop, and allowing him to make a handsome profit while committing treason to the Malaysian public and making all Malaysians suffer?

Excerpt 1
“The blog also accused me of using The Edge Media Group to irresponsibly paint Malaysia in a negative light for my personal benefit. I have already vehemently and absolutely denied that I have ever shorted the ringgit. I do not think it is even possible. I have also never shorted equities. How can I possibly gain from painting Malaysia in a negative light? News media communicates with society by presenting facts, analyses and commentaries on important matters happening around them. Sometimes, they are positive and critical, and other times, they are not. We believe readers want all the facts and views, and they are smart and savvy enough to make up their own minds using the information given to them. We doubt that they can be manipulated.

Over the past 20 years, The Edge has contributed positively to the country by promoting social and economic inclusion. It has the highest level of editorial credibility and it is successful because of this. Our views and reporting are done in the open.” – Excerpt from Tong’s statement on TMI

By purposely publishing damaging articles on the Malaysia Economy and portraying a doomsday sentiment, Tong Kooi Ong manipulating public sentiment for his personal gain.

Below are headlines from The Edge Media Group that Tong Kooi Ong considers “positive”? What you see is what you actually get below! Tong is lying outright!

 

Speculators like Tong would make money off the falling ringgit due to media created perception of the doom like economical state of Malaysia. Tong would kill two birds with one stone. He would get his revenge and make lots of money of it.

The expertise

Let us not forget that Tong Kooi Ong built Phileo Allied Bank (Malaysia) Berhad with the help of “his political master and boss” before selling it to Maybank (who was forced to buy) at an ultra inflated price of RM1.3 Billion in cash with a further RM20 million being paid for excluded subsidiaries. The sale and purchase agreement was officiated on the 30^th August 2000.

With the experience of building a bank and strong financial connections to his “political boss”, Tong has access to international prime brokers & hedge funds from the 1990s who would join in the golden opportunity of shorting the Ringgit like they did previously to profit.

It would be easy to syndicate massive funding to short the ringgit. A combination of Tong’s and his friendlies’ access to funds and leverage could crash the RM if carried out in a coordinated manner.

Tong acting alone with US1b plus would not be able to crash the ringgit but by working in concert with his international and local friendlies to syndicate multi-billion leveraged facilities, this would be possible as per 1990s. Take note that Soros did not act alone, it was a coordinated effort by multiple fund holders and when enough chips in the armor were made, the market followed. This time is even worse than Tun Mahathir days as Tong is openly using The Edge Media Group to commit “Economic Kill Bill” against Malaysia.

He sits on the board of 8 local and foreign companies. Documents, conservation logs of Tong and his brokers will be revealed. We thank you the brave Malaysians working at a foreign based bank whom provided this information.

We will reveal soon the links that these companies have to funding other websites and bloggers to write negatively about the Malaysian Economy. It will also reveal his money laundering activities for his “previous boss”. Stay tuned for episode 3 as the saga continues.

 

The connections

Tong Kooi Ong is a very experienced broker with strong connections to financial institutions.

Excerpt 2
“As for the fake phone chat log, I invite the relevant authorities to investigate. I suspect such records can be obtained from the telecommunication company for verification. It is also clear that the last 2 digits of the phone number are missing from the screen grab posted. Why blank it out if it is genuine?” Finally, anyone who knows me will confirm that many of the words used, such as “friendlies” and “jugular” are not part of my vocabulary.

–Excerpt from Tong’s statement on TMI.

We hereby reveal the second last number of the phone. Honestly, we think that it is an intrusion of privacy if we were to reveal all. Can Tong say that all the digits so far are incorrect? We have a phone statement clearly with his address and name and number. Nevertheless, since Tong has asked for it, we would be more than happy to oblige. He has until today not provided any evidence that this is fake other than an outright denial.

Investigations by the police will ultimately confirm the truth.

On Tong’s alleged attempts to sabotage the Malaysian economy through currency speculation, Dr Mahathir said the claim should be investigated.

“Last time, our currency fell because of international traders. After that we can investigate whether he (Tong) has ties with Soros,” Dr Mahathir said, referring to billionaire financier and hedge fund manager who had targeted the ringgit in the 1997 Asian financial crisis.

We stand by Tun Mahathir and urge Tong Kooi Ong be investigated, so that the truth about his Economic Sabotage and pain that he is bringing to Malaysians can be brought to justice!

http://www.themalaysianinsider.com/malaysia/article/the-edge-owner-attacked-because-he-criticised-1mdb-says-dr-m

In order to short a currency, a certain appetite for risk is necessary. George Soros the man who is known by many as the man who broke the bank of England famously said “go for the jugular” to his chief portfolio manager. Economic Sabotuer Tong Kooi Ong is working with Soros former fund managers and is adopting the same aggressive investment style and motivates his team members in the same way… (additional reading at: (http://www.theatlantic.com/business/archive/2010/06/go-for-the-jugular/57696/)
Excerpt 3

We do not hide behind blogs who do not reveal themselves.

Tong is overtly defensive

If the allegation is untrue then why is Tong Kooi Ong so defensive against an anonymous blog unless he has something to hide? A single press statement would have sufficed but instead there have been 5 statements made on The Malaysian Insider alone and this is in response to an unknown blog with limited reach. Many defences have come also from purported ‘third party’ writers. Are these writers paid by Malaysia’s Economic Hit man Tong Kooi Ong?

http://www.theedgemarkets.com/my/article/conversation-log-dr-m-fake-says-edge-media-group-boss-tong-kooi-ong

(has since been removed – hiding something???)

http://www.themalaysianinsider.com/bahasa/article/blogger-popular-pertahan-pemilik-the-edge-daripada-dakwaan-manipulasi-ringg

http://www.themalaysianinsider.com/sideviews/article/the-log-of-the-mobile-chat-is-fake-tong-kooi-ong

http://www.themalaysianinsider.com/bahasa/article/pemilik-the-edge-dakwa-pendedahan-log-perbualan-telefon-palsu

http://www.themalaysianinsider.com/malaysia/article/edge-owner-denies-new-allegations-of-directing-negative-media-coverage-of-m

http://www.themalaysianinsider.com/sideviews/article/currency-manipulation-and-economic-sabotage-hisham-h

http://www.themalaysianinsider.com/sideviews/article/tong-kooi-ong-is-not-a-currency-speculator-din-merican

With regard to statements made in anonymity, perhaps Tong can clarify who wrote the following articles. Why hide when you preach transparency? Is this not hypocritical?

 

Editorials made in anonymity would be interpreted as the voice of the news portal. If this is the case then what should the general public make of this voice?

 

Excerpt 4

“The person behind all these baseless attacks is clearly acting out of desperation. After attacking Dr Mahathir in his other blogs (politikukus.wordpress.com and kronismemahathir.wordpress.com), he now fabricates a story that Dr Mahathir could be manipulated by me. Dr Mahathir deserves a lot more credit and respect than that. Calling Dr Mahathir senile and listing 10 reasons why Dr Mahathir should be jailed (kronismemahathir.wordpress.com, October 1, 2014 and August 25, 2014) is disrespectful and vicious. It shows how fearful this person, and whoever that is behind him, is of the criticism and issues our former PM has raised in recent times, and the reporting of The Edge Media Group.” – Excerpt from Tong’s statement in TMI.

This is coming from the owner of a media empire who is responding excessively to an unknown blog? Who is the one who is scared? Stop trying to redirect the conversation from the issues at hand. Answer this: what was your role and relationship with “your political boss” in 1990s? Why were you signatories of various accounts which ultimately had funds reach the hands of this particular politician? Money laundering?

Why is Tong so worried?

Why worry about this anonymous blog when Malaysia Economic Sabotuer Tong Kooi Ong could otherwise be sipping wine retiring in Canada. Which brings us to our next point.

Tong Kooi Ong is a compulsive liar from his involvement in 1990s short selling of RM with foreign hedge funds, to money laundering for politician boss, to using media to kill Malaysia Economy.

Tong Kooi Ong possesses both a Canadian and a Malaysian passport. Why hide this fact? Why hide unless you have lie after lie!

The only way a person who has been born a Malaysian citizen can have his citizenship revoked is if he obtains the citizenship of another country, as Malaysia does not recognise dual citizenships.

Under Article 24 of the Federal Constitution, the Federal Government may by order deprive Tong Kooi Ong’s Malaysian citizenship. So we call upon the relevant authority to investigate, before he destroys Malaysia, make money by robbing poor Malaysians by manipulating media and short selling to kill RM, and then run back to Canada!

Question for Tong Kooi Ong: Please state if you have more than one passport?

What happens next?

When asked on news reports that media tycoon Datuk Tong Kooi Ong had committed economic sabotage and had a hand in the weakening of the ringgit, Inspector-General of Police Tan Sri Khalid Abu Bakar said “if the claims were true, the businessman will have to face the music”
(http://www.thesundaily.my/news/1318010)

It is good that the relevant authorities are already investigating and we will furnish further evidence to them and to all Malaysian public.

The purpose of this blog is to bring up issues that are in the interests of the general public who are suffering from Economic Hitman Tong Kooi Ong’s actions whom is making a fortune by manipulating and lying to Malaysians at the expense of hard working Malaysians and their livelihoods.

So Economic Sabotuer Tong Kooi Ong, do you have two passports? You can run but you can’t hide. The truth prevails.

Allegations have been made that this blog serves political masters however readers are urged to judge this blog based on the facts presented. Similarly, it can be easily be interpreted that Din Merican is a pro-TMI blogger.

A commentary by The Malaysian Insider

Note that Din Merican carried this same headline on his blog and also was one of the first to defend Tong Kooi Ong with a personal story of how they met in Cambodia in the 1990s. (http://www.themalaysianinsider.com/sideviews/article/tong-kooi-ong-is-not-a-currency-speculator-din-merican)

I will leave it to the readers and relevant authorities to decide for themselves. Side tracking from the issue will not bring the allegations to rest. Keep in mind that Tong has been excessively defending against allegations from an anonymous blog.

http://www.themalaysianinsider.com/malaysia/article/edge-owner-denies-claims-he-manipulated-ringgit

Published: 1 February 2015 2:48 PM

Businessman and owner of The Edge Media Group Datuk Tong Kooi Ong has denied allegations made on anonymous blogs that he is betting against the ringgit to make it crash for personal profit, and is trying to identify the individuals behind these claims to sue them.

He has been caught red handed! Refer to article earlier with the proof! (https://malaysianexpose.wordpress.com/2015/02/01/leaked-chat-logs-indicate-tong-kooi-ong-owned-media-used-market-manipulation-more-to-come/)

In a statement, Tong, the group’s executive chairman, said Bank Negara should be well aware of the allegations against him and the central bank would have contacted him if he was indeed involved in currency speculation.

The Government has already instructed its various agencies to investigate this. I am sure when he gets contacted, he will be charged immediately.

“I vehemently and absolutely deny the accusations. I did not at any time short the ringgit.”

The whole world knows he did in 1990s, and now he is caught red handed! Stay tuned for more to come.

“I am an equity analyst, besides being an established entrepreneur. I am a value investor. I have never shorted currencies or equities. I acquire and build companies, create value for shareholders and create employment through ideas and innovation. My track record speaks for itself”

Readers should consider his track record as a “crony” and “defacto CFO” of certain “political leaders” in the 1990s.

“I am certain Bank Negara Malaysia will be aware if there is such a heinous crime. Bank Negara has not contacted me and I pledge to cooperate fully with Bank Negara if my assistance is needed at any time,” Tong said today.

It’s good to know that he will cooperate fully. Please explain the contents of the sms to BNM. BNM should also investigate your money laundering from 90s onwards.

He called the claims “malicious lies and fabrications” which were “beneath human decency”.

This is hypocritical considering the bias coverage of business and political news by the Edge Group for his own personal gain through shorting the market. See previous articles carried on the blog malaysianexpose.wordpress.com. Justice must be done to save Malaysia from market manipulators.

Tong said “almost every currency in the world” was falling against the US dollar and said the reasons were partly due to the strengthening of the US economy and expectations of an interest rate hike.

“Further, many countries in the region as well as Europe are depreciating their currencies and lowering their interest rates to promote growth,” he added.

Yes however Malaysia would have been in a better position if not for him and his friendly hedge fund managers short selling or in his own words “going for the jugular”.

The ringgit has fallen to its lowest since the 2008 financial crisis amid a climate of high national debt and low world oil prices.

Tong said he also supported the call by Prime Minister Datuk Seri Najib Razak that economic “saboteurs” must be brought to justice.

“As a Malaysian, I, too, am against economic saboteurs. I support the prime minister’s call that those who sabotage the country’s economy must be brought to justice.”

Good. You can lie, but the truth will be revealed. The government and the public have a right to know. Market manipulators will be exposed for their crimes. It is unethical to use a media empire to drive the currency down for your own personal gain.

Last Friday, Najib had told reporters after the Umno Supreme Council meeting that the government would act against ringgit manipulators if there was evidence to prove allegations against them. –February 1, 2015.

Yes. Please investigate him for press manipulation to destroy Malaysia economy and profiting. Investigate for money laundering from 90s to now.

Leaked chat log reveals Tong Kooi Ong discussing Malaysian politics and the implications moving forward with a member of his “make Malaysia an economic disaster” team.

It appears that Tong Kooi Ong believes he is a political mastermind who can manipulate the “Old man” (Tun Mahathir) to be used in his efforts to destroy Malaysian economy for his own multi-billion profiting Soros style attack.

Market manipulation is a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

Screenshots of Edge controlled print media reveal how Tong Kooi Ong uses The Edge Media group to irresponsibly paint Malaysia in a negative light for his own personal profit.

With this in mind, we call upon relevant authorities to act swiftly to protect the Malaysian currency. Suspend The Edge Group for irresponsible reporting to kill Malaysian economy and investigate Tong for money laundering in the 90s until now.

 

Tong is all about money power, opportunity and manipulation of the market and politics. Whilst short trading Ringgit is technically gray area if it is illegal (depending on how it is done), it is unpatriotic and unethical to hedge bets against your own country and ILLEGAL if you are then leveraging on your media empire and contacts to drive the currency down for personal gain with “kill Malaysia” economy style reporting.

Evangelical business barons that can be said to be equal to money and opportunity should not abuse their power for personal gain. Tong Kooi Ong is leveraging off his media empire and connections with politicians from both sides to manipulate the market and crash the Ringgit.

The Edge group cumulatively reaches out to millions of readers and listeners daily according to circulation stats from Audit Bureau Circulation Malaysia (http://abcm.org.my/abcmfiles/uploads/2014/11/ABC-Circulation-Figures-Jan14-to-June14-Newspapers-West-and-East-Malaysia-Price-Bands1.pdf) and Comscore (http://www.comscore.com/Insights/Market-Rankings/MDA-and-comScore-Release-Rankings-of-Top-Web-Entities-in-Malaysia-for-November-2014). Their loyal readers include some of the most influential and powerful people in Malaysia.
I will leave you with last week’s front page for the Edge.

Nilai kejatuhan Ringgit Malaysia (RM) berbanding USD ketika ini sedang dimanipulasikan sesetengah pihak yang tidak bertanggung jawab. Ketika ini, Bank Negara Malaysia (BNM) sedang memantau seorang individu bernama Tong Kooi Ong yang merupakan pemilik kepada syarikat The Edge dan The Malaysian Insider. Urus niaga pertama berlaku pada bulan Ogos 2014 dan kedudukan pendek seterusnya telah berlarutan hingga Januari 2015.

Tong Kooi Ong yang sebelum ini merupakan seorang broker saham, penganalisis kewangan dan juga merupakan antara individu yang betanggung jawab menubuhkan Phileo Allied Berhad yang ketika ini merupakan kumpulan perbankan kewangan yang paling berjaya dan inovatif pada era 90-an. Phileo Allied Bank kemudian diambil alih dan bergabung dengan Maybank pada tahun 2000.

Bagaimana Tong Kooi Ong Memanipulasikan Ringgit Malaysia

Tong Kooi Ong telah melakukan pinjaman sebanyak RM4.48 Billion. Beliau kemudian membeli USD di Malaysia menggunakan pinjaman tersebut melalui proksi beliau di Hong Kong dan New York. Media yang dikuasainya kemudian memomokkan bahawa nilai Ringgit Malaysia semakin hari semakin teruk. Apabila nilai USD semakin meningkat maka beliau akan tukar kembali dalam bentuk RM untuk membayar semula pinjaman RM4.48 Billion tersebut.

Kegiatan yang dilakukan oleh Tong dikenali di dalam dunia pelaburan sebagai ‘short position’.

‘Short position’ mengikut definisi adalah penjualan kepada pinjaman sesuatu komoditi, matawang dengan jangkaan ia akan jatuh nilainya.

Sebagai contoh, A tidak mempunyai sebarang modal. A meminjam daripada B sejumlah aset bernilai RM100,000. A kemudian menjual aset tersebut kepada pasaran terbuka dengan harga RM90,000. Untuk sekian tempoh, nilai aset tersebut jatuh kepada harga RM60,000. A kemudian beli semula aset tersebut daripada pasaran terbuka dengan nilai RM60,000. A kemudian mengembalikan pinjaman aset tersebut kepada B dengan nilai RM60,000. A berjaya memperoleh keuntungan RM30,000 tanpa mengeluarkan sebarang modal.

Apabila matawang tersebut sedang mengalami penurunan nilai, bank pusat akan mengeluarkan rizab untuk mengimbangi matawang sendiri berbanding nilai matawang yang paling aktif diurusniagakan.

Di dalam senario Malaysia, apabila nilai RM jatuh berbanding USD, BNM akan membeli lebih banyak RM dengan menggunakan rizab USD yang dimiliki BNM.

Spekulator yang ingin mengeksploitasi situasi ini akan mengambil pinjaman di Malaysia ataupun menukarkan simpanan RM mereka dengan USD. Matlamatnya adalah untuk memastikan bahawa bank pusat akan kehabisan USD dengan melambakkan RM di pasaran. Akhirnya, bank pusat tidak mampu untuk mengimbangi pasaran matawang dan RM akan jatuh dengan teruk.

Pelabur yang mengambil pinjaman dari Bank akan membayar semula pinjaman mereka dengan menukar wang yang dipinjam itu kepada RM semula. Keuntungan berjaya diperoleh atas nilai USD yang tinggi berbanding RM. Memandangkan pinjaman dilakukan dalam bentuk RM, maka pembayaran semula juga dalam bentuk RM.

Tong Kooi Ong Dan Empayar Media Miliknya

Dengan akses media yang dikuasainya yang meliputi siaran radio, cetakan dan media online, Tong Kooi Ong berupaya untuk mempengaruhi sentimen awam melalui sebaran massa tentang artikel-artikel yang mencipta keraguan tentang kedudukan matarang Ringgit Malaysia.

Selepas membaca tajuk-tajuk berita daripada The Malaysian Insider yang menggambarkan kejatuhan RM yang sangat teruk, adakah pelabur-pelabur, pemilik syarikat antarabangsa dan lain-lain akan menyimpan matawang Ringgit Malaysia?

Perlu diberikan perhatian bahawa dalam usaha untuk menjatuhkan matawang Ringgit Malaysia, BNM perlu ditekan rizab mereka sehingga mencapai tahap maksima. Empayar media sudah tentu menjadi saluran yang terbaik untuk memburukkan lagi persepsi terhadap RM secara efektif.

Dengan mengambil kira kepentingan kewangan peribadi dan juga penguasaan terhadap media seperti yang dimiliki oleh Tong Kooi Ong, ini akan mengakibatkan negara Malaysia mengalami inflasi yang sangat teruk dan yang terkesan adalah rakyat Malaysia sendiri.

Perbuatan-perbuatan yang tidak patriotik membuat jualan singkat ditambah pula dengan penyebaran media akan membawa Malaysia ke dalam kemelesetan yang menyebabkan penderitaan yang tidak terperi untuk kebanyakan rakyat biasa pada masa yang sama memenuhkan poket beberapa individu lain.

Untuk memberikan pembaca pemahaman yang lebih baik bagaimana pelabur membuat wang melalui juala singkat (short selling) mari kita lihat 2 kajian kes diikuti dengan perbandingan bagaimana perkara yang sama boleh berlaku di Malaysia.

Soros Membankrapkan Bank of England dan memperoleh $1 Bilion dalam sehari

Ini sudah tentu peristiwa pasaran tukaran mata wang asing yang paling terkenal berlaku pada 16 September 1992 yang dipanggil “Black Wednesday” dan Soros mendapat nama samaran “orang yang membankrapkan Bank England” daripada urus niaga yang dilakukan bersama-sama dengan peniaga-peniaga lain. Mereka tidak menjatuhkan ia secara langsung, tetapi mereka menurunkan nilainya begitu teruk sehinggakan Britain terpaksa membawanya keluar dari Mekanisme Kadar Pertukaran Eropah (ERM).

Rajah 1. Bagaimana Soros Bankrapkan Bank England pada tahun 1992.

Britain berada dalam kemelesetan dari tahun 1990 tetapi walaupun ini berlaku Pound (juga dikenali sebagai Sterling) menyertai ERM dengan itu menetapkan kadar Pound pada Deutschmark untuk membuat pelaburan yang boleh dijangkakan dan stabil di antara Britain dan Eropah. Tetapi keadaan politik dan kewangan di Jerman berubah semasa penyatuan Jerman banyak mata wang ERM berada di bawah tekanan yang besar untuk menjaga mata wang mereka supaya berada dalam batas-batas yang telah dipersetujui. Britain mempunyai masalah yang paling banyak – kadar inflasi yang sangat tinggi dan kadar USD (banyak pengeksport British telah dibayar dalam USD) juga telah jatuh. Jadi semakin ramai spekulator mula mencari dan membuat perancangan tentang bagaimana untuk mendapat keuntungan daripada keadaan ini kerana ia menjadi jelas bahawa pound tidak dapat bertahan sendiri melawan kuasa pasaran biasa. Spekulator menunggu sehingga keadaan kewangan menjadi seteruk mungkin dan kemudian mewujudkan tekanan tambahan pada Pound dengan menjual dalam jumlah yang besar. Yang paling agresif daripada mereka adalah G. Soros yang melakukan urus niaga ini setiap 5 minit setiap kali mengaut keuntungan apabila GBP semakin jatuh.

“Wang yang saya peroleh dalam transaksi ini dianggarkan kira-kira $ 1 Bilion dolar. Kami hanya menggunakan pasaran ke hadapan – anda meminjam sterling dan anda menjual sterling yang anda telah pinjam. Dan kemudian anda membeli semula sterling apabila pinjaman telah tamat tempohnya. ”

– G. Soros.

Bagaimana Soros memperoleh $790 Juta, menjatuhkan Baht Thai dan mencetuskan krisis Asia.

Perdagangan paling terkenal kedua Soros berlaku pada tahun 1997 apabila dia melihat ada kemungkinan Baht Thai boleh turun oleh itu dia melakukan jualan singkat ke atas baht (dengan meniagakan dalam jangka panjang melalui USD/THB) menggunakan kontrak ke hadapan. Tindakannya sering dianggap sebagai faktor pencetus yang memulakan krisis kewangan Asia yang besar, yang memberi kesan kepada bukan sahaja Thailand tetapi juga Korea Selatan, Indonesia, Malaysia, Filipina, Honk Kong dan lain-lain.

Gambarajah 2. Bagaimana Soros mendapat $790 Juta dan menyebakan ketidakseimbangan ekonomi Thailand dan negara-negara Asia pada tahun 1997 – 1998.

1. Soros melakukan jualan pendek ke atas baht.
2. Thailand membelanjakan hampir $ 7 Bilion untuk melindungi Baht dari spekulasi.
3. Soros menjual kesemua sumber baht dan memberitahu semua orang untuk melakukan perkara yang sama dengan menakut-nakutkan orang awam dengan berita kejatuhan baht dan krisis. Ia berjaya.
4. Pada 2 Julai, Thailand terpaksa melepaskan kadar tetap bagi Baht dan ia mula terapung secara bebas. Thailand meminta bantuan daripada dana Kewangan Antarabangsa (IMF).
5. Thailand mengambil langkah-langkah penjimatan sukar untuk mendapatkan pinjaman dari IMF.
6. Baht telah jatuh dari $ 1 untuk 25 baht kepada 56 baht dengan itu Soros telah mendapat lebih daripada 790 juta USD.

Bagaimana Tong Kooi Ong akan membankrapkan Bank Negara Malaysia

1. Tong Kooi Ong melakukan jualan pendek ke atas RM
2. Malaysia membelanjakan rizab untuk melindungi RM daripada spekulator
3. Empayar media digunakan untuk menyebarkan keraguan untuk menjatuhkan lagi RM
4. Tong Kooi Ong menutup perdagangan selepas RM yang telah menurunkan nilainya secukup yang mungkin untuk keuntungan yang ketara
5. Kedudukan USD dianggarkan USD1.4 bilion ditukarkan kepada RM yang telah jatuh nilainya untuk keuntungan besar. Bank dibayar balik pinjaman permulaannya menggunakan RM yang telah jatuh. Perbezaan di antara kos permulaan RM dan kos nilai RM yang jatuh adalah untung bersih.

Kami menggesa orang ramai untuk berkongsi artikel ini dengan rakan-rakan dan keluarga. Aduan telah dilaporkan kepada Bank Negara Malaysia dan Suruhanjaya Sekuriti tetapi kami menggesa orang ramai untuk memberi sokongan dengan membuat laporan mereka sendiri.

Mengenang Kembali Krisis Kewangan 1997.

Semasa krisis kewangan 1997, ketamakan beberapa spekulator yang tidak patriotik menyebabkan Malaysia terjerumus ke dalam kemelesetan. Ketamakan telah membawa spekulator untuk membuat berjuta-juta, jika tidak berbilion-bilion, dengan mengorbankan negara ini.

Pedagang bank Malaysia ketika itu bekerja keras secara tidak beretika bertaruh melawan ringgit. Spekulator mata wang meminjam ringgit dari pasaran tukaran mata wang asing luar pesisir dan menjualnya. Mereka seterusnya membuang wang ke dalam pasaran – memaksa kadar pertukaran turun lebih jauh.

Setelah ringgit jatuh nilai secukupnya, peniaga-peniaga kejam ini membeli balik mata wang pada harga yang jauh lebih rendah, membayar balik pinjaman mereka dan membuat keuntungan lumayan, manakala berjuta-juta orang di negara ini menderita dan terus menderita kerana Malaysia berada dalam kemelesetan.

Khabar angin yang berbahaya mengenai kemerosotan ekonomi disebarkan, kerana ia akan membantu keuntungan jualan singkat mereka.

Sebagai tindak balas kepada krisis mata wang pada tahun 1997, Malaysia mengharamkan jualan singkat. Walau bagaimanapun, sebaik sahaja ekonomi pulih secukupnya, larangan itu ditarik balik pada bulan Mac 2006.

Mengapa hal mata wang lemah penting buat anda?

Pada 1997 krisis pemberhentian pekerja meningkat sebanyak 444%. 83,865 orang kehilangan pekerjaan mereka dalam 3 bulan pertama krisis. Pendapatan per kapita jatuh secara drastik sebanyak separuh USD5,000 kepada USD2,500. Ringgit jatuh dari RM2.50 per USD, pada satu ketika, kepada RM4.80 per USD. KLCI jatuh dari kira-kira 1300 mata kepada hampir serendah 400 mata dalam beberapa minggu yang singkat.

Apabila mata wang jatuh teruk pengangguran meningkat dan pendapatan isi rumah menurun. Isi rumah mengubah tabiat perbelanjaan mereka dengan keperluan pembelian sahaja, ini memberi kesan kepada keseluruhan ekonomi kerana kurang orang makan di luar atau pergi membeli-belah. Rantaian kejatuhan bermula dengan rakyat hilang pekerjaan, perniagaan mempunyai kurang pelanggan menyebabkan perlu mengurangkan lagi kos yang mengakibatkan kehilangan lebih banyak peluang pekerjaan.

Semasa krisis 1997 walaupun langkah-langkah tindak balas yang ketat dari BNM, KDNK negara mengalami penurunan yang ketara sebanyak 7.5% pada tahun 1998, dan negara ini terjerumus ke dalam kemelesetan.

Semasa kemelesetan ramai orang hilang perniagaan yang mengakibatkan kehilangan pekerjaan, projek terbengkalai dan bank-bank tempatan menerima pengeluaran yang besar daripada pelanggan.

Ketika pekerjaan sukar didapati orang ramai bersabar dengan gaji yang lebih rendah dengan beban kerja yang lebih tinggi dan keadaan kerja yang teruk. Bilangan kes muflis di negara ini meningkat kerana gagal membayar pinjaman. Orang ramai kehilangan rumah mereka, kerana mereka tidak dapat membayar pinjaman perumahan.

Selepas kejadian serangan terhadap ringgit pada tahun 1997, Dr Mahathir berkata dalam rujukan kepada peniaga-peniaga mata wang “Sama sekali tidak ada pertimbangan yang diberikan kepada penderitaan dan kesengsaraan rakyat dan negara-negara mereka yang tiba-tiba miskin. Melampaui bidang ekonomi, ancaman hilang keyakinan telah berkembang ke dalam bidang sosial dan politik. Dalam satu contoh, mata wang negara tersebut telah jatuh sehingga 600% ”

 

“Perang mata wang boleh mencapai objektif politik seperti mana perang ketenteraan.” Tun Mahathir telah menulis dalam blognya 29 Mac 2012 yang merujuk kepada krisis mata wang 1997.

 

Peniaga penyangak kembali dengan perasaan dendam untuk mendapat keuntungan daripada ringgit yang semakin lemah berbanding dolar AS dengan mengambil satu kedudukan menjual yang singkat berbanding dengan ringgit Malaysia berjumlah USD1.2 bilion (RM4.32 bilion).

 

Pemain tersebut, seorang bekas pegawai bank, mempunyai selera makan yang besar dan dikatakan bekerja dengan dana perlindungan untuk dipertaruhkan. Pemain ini akan didedahkan dalam siri yang akan datang.

 

Bekas pegawai bank tersebut mula berniaga pada bulan September 2014 dan dalam empat bulan yang singkat dia telah bertaruh USD1.2 bilion untuk menjatuhkan ringgit.

 

Dia memainkan semula apa yang dia lakukan pada tahun 1997 apabila ketamakan beberapa spekulator yang tidak patriotik dan memalukan menyebabkan mereka tidak ragu-ragu untuk mengaut keuntungan berjuta-juta, jika tidak berbilion-bilion, dengan mengorbankan negara ini. Mereka telah membuat banyak mata wang yang mereka percaya akan jatuh dijual dengan singkat, dengan itu menyebabkan keadaan semakin teruk.

 

Pemerhati peniaga Forex percaya dia mengikut buku mainan bekas pegawai bank lain terkemuka yang kehilangan empayar kewangan selepas terdedah sebagai antara penyangak yang mengkhianati negara. Dia juga hilang kumpulan perbankan inovatif dan meninggalkan Malaysia ke Kanada, hanya untuk kembali kemudian.

Orang-orang ini bekerja keras secara tidak beretika bertaruh melawan ringgit. Spekulator mata wang meminjam mata wang ringgit daripada pasaran tukaran mata wang asing luar pesisir dan menjualnya – membuang wang ke dalam pasaran – menjatuhkan kadar pertukaran kepada lebih teruk.

 

Setelah mata wang ringgit diturunkan nilai secukupnya dari semua jualan ke bawah, peniaga-peniaga kejam ini boleh membeli kembali mata wang pada harga yang jauh lebih rendah, membayar balik pinjaman mereka dan membuat keuntungan yang banyak, manakala berjuta-juta orang di negara ini menderita.

 

Bekas pegawai bank tersebut yang kini pengkritik hebat Putrajaya, dikatakan akan meningkatkan pertaruhan sehingga melampaui keuntungan sahaja. Para pemerhati berkata dia cuba melakukan 3 penghapusan, membuat wang dengan mengorbankan negara, mensabotaj ekonomi untuk melemahkan kerajaan dan akhirnya menjatuhkan kerajaan.

 

“Dia mempunyai wang, kawan-kawan dalam kedudukan yang tinggi dan pengaruh untuk mensabotaj atas nama perubahan. DIa boleh disamakan dengan pengkhianat, menggunakan mata wang sebagai senjata untuk memusnahkan negara ini untuk keuntungan peribadi, “kata seorang pemerhati.

Bekas PM Tun Dr Mahathir Mohamad berkata “ perang mata wang boleh mencapai objektif politik sebagaimana perang tentera … Ideanya ialah serangan terhadap Ringgit kita adalah disengajakan tidak terlalu mustahil. Tekanan Barat dan pemimpin-pemimpin kerajaan di negara-negara tertentu telah menyatakan dengan jelas bahawa mereka ingin menjatuhkan kerajaan pada masa itu untuk pelbagai alasan, ” tulis beliau dalam blognya pada 29 Mac 2012 merujuk kepada krisis mata wang 1997.

 

Dalam kritikan awal tadi pada peniaga-peniaga mata wang, Dr Mahathir berkata: “Sama sekali tidak ada pertimbangan yang diberikan kepada penderitaan dan kesengsaraan rakyat dan negara-negara mereka yang tiba-tiba jatuh miskin. Melampaui bidang ekonomi, ancaman hilang keyakinan telah berkembang ke dalam bidang sosial dan politik. ”

 

Walaupun apabila Bank Negara menghadkan pertukaran ringgit bukan perdagangan kepada RM2 juta pada bulan Ogos 1997, pedagang ini tidak menghentikan ketamakan menghasilkan wang. Mereka beralih kepada menjual saham-saham Malaysia untuk mencari lebih banyak mata wang ringgit. Dalam bahasa yang mudah, mereka kini menjual pendek saham dalam syarikat-syarikat Malaysia yang juga sekali gus hampir membawa kepada keruntuhan BSKL menyebabkan pelabur kecil bankrap.

 

Usaha-usaha untuk mengawal selia jualan gila ini memakan diri sendiri akhirnya dan pada akhir Ogos 1997, Indeks Komposit Kuala Lumpur (KLCI) menunjukkan kejatuhan 208 mata atau 20.5%, kejatuhan terbesar satu bulan dalam sejarah.

 

Sebagai tindak balas kepada krisis mata wang tersebut, Malaysia mengharamkan jualan singkat. Walau bagaimanapun, sebaik sahaja ekonomi pulih secukupnya, larangan itu ditarik balik pada bulan Mac 2006.

Ringgit menurun daripada RM2.50 per USD, pada satu ketika, kepada RM4.80 per USD. KLCI jatuh dari kira-kira 1300 mata kepada hampir serendah 400 mata dalam beberapa minggu yang singkat.

 

Walaupun tindak balas yang ketat dari BNM, dalam jangka masa pendek KDNK negara mengalami penguncupan mendadak 7.5% pada tahun 1998, dan negara ini mengalami kemelesetan.

 

Pendapatan per kapita jatuh secara drastik kira-kira separuh daripada USD5,000 iaitu USD2,500.

 

Ramai orang hilang perniagaan dan hilang pekerjaan, projek telah terbengkalai, dan bank-bank tempatan mempunyai pengeluaran yang besar daripada pelanggan mereka.

 

An owner of a prominent news media empire is casting undue influence on the financial and political state of Malaysia for his own personal monetary gain.

Sources within Bank Negara Malaysia (BNM) revealed that Tong Kooi Ong, the owner of the Edge Group and The Malaysian Insider has taken a USD1.4 billion short position on the Ringgit through a proxy. The first transaction took place in August 2014 and subsequent short positions have been taken leading up to January 2015.

Tong Kooi Ong is no stranger to investments, notably during the last financial crisis, Tong took a similar short position with Rashid Hussein which resulted in a significant gain.

According to the source, Bank Negara Malaysia and the securities commission are monitoring Tong closely.

How shorting a currency works:

A short position on the ringgit is essentially a bet that the ringgit will fall. The Malaysian ringgit will be traded for USD and if the ringgit reduces in value, the investor will make money when they buy back the ringgit at its lower value to cover the short position.

When a currency is being devalued, the central bank will step in to release reserves to balance the value of their currency against the currency that it is being most actively traded against.

In the Malaysian scenario as the RM drops, BNM will step in to buy RM in exchange for their USD reserves.

Speculators who short the currency will exploit this by taking a loan in Malaysia or using their own funds in RM to trade for the USD. The goal of which is to trade the RM for USD until the central bank is out of reserves so effectively the currency will crash.

The investor will then go back to the Bank that they initially borrowed money from and will convert it into RM to pay back the loan. The profit would be made off the gain that the USD receives against the RM. As the loan was made in RM and the currency has crashed the investor would have to trade less USD to pay back that initial RM loan.

Media and Mass propagation

With access to his media empire that spans from radio to print and online, Tong Kooi Tong is able change public sentiment through the mass distribution of articles that create doubt amongst the general public about the state of the Malaysian ringgit.
After reading headlines that spell doom and gloom above, what would you do if you were holding Malaysian ringgit?

Take into consideration that in order for the currency to crash, it is crucial that Bank Negara reserves are pushed to their limit. A media empire would be the perfect channel to damage the perception of the RM effectively facilitating the devaluation of the RM.

The unpatriotic acts of short selling coupled with media propagation will lead Malaysia into a recession causing untold suffering for the average man on the street whilst lining the pockets of a few individuals.

To give readers a better understanding of how investors make money by shorting a currency let’s look at 2 case studies followed by a comparison of how the same could happen in Malaysia.

Soros Breaks the Bank of England and earns $1 Billion in a day

This is certainly the most notorious forex market event which took place on September 16, 1992 which is called “Black Wednesday” and Soros got his nickname “the man who broke the bank of England” from transactions he performed together with other traders. They didn’t break it directly, but they devalued it so badly that Britain had to take it out from the European Exchange Rate Mechanism (ERM).

Britain was in a recession from 1990 but despite this the pound (also known as Sterling) joined the ERM thus fixing the pound’s rate to deutschmark in order to make the investments more predictable and stable among Britain and Europe. But as the political and financial situation in Germany changed during the unification of Germany many ERM currencies were under big pressure to keep their currencies within the agreed limits. Britain had the most problems – its inflation rate was very high and the USD rate (many British exporters were being paid in USD) was also falling. So more and more speculators began circling and making plans on how to profit from this situation as it became clear that the pound was not able to artificially stand against the natural market forces. Speculators waited until the financial situation got as bad as it could naturally get and then created extra pressure on the pound by selling it in huge amounts. The most aggressive of them was G. Soros who performed this transaction every 5 minutes profiting each time as the GBP fell by minutes.

The money that I made on this particular transaction would be estimated at about $1 Billion dollars. We very simply used the forward market – you borrow sterling and you sell the sterling that you’ve borrowed. And then you buy back the sterling when the loan expires.”

– G. Soros.

How Soros earns $790 Million, crashes the Thai Baht and triggers the Asian crisis.

The second most notorious trade of Soros came in 1997 as he saw a possibility that the Thai Baht could go down so he went short on the baht (by going long on USD/THB) using forward contracts. His actions are often considered to be a triggering factor which sparked the big Asian financial crisis, affecting not only Thailand but also South Korea, Indonesia, Malaysia, Philippines, Honk Kong and others.

1. Soros goes short on the baht.
2. Thailand spends almost $7 Billion to protect the Baht against speculations.
3. Soros sells all his baht resources and keeps telling everyone to do the same by publicly scaring people with the fall of the baht and crisis. It works.
4. On July 2, Thailand is forced to give up the fixed rate of the Baht and it starts to float freely. Thailand asks for help from the International Monetary fund (IMF).
5. Thailand takes on hard austerity measures to secure the loan from the IMF.
6. Baht has fallen from 1$ for 25 baht to 56 baht thus Soros had gained more than 790 million USD.

How Tong Kooi Ong would break Bank Negara Malaysia

1. Tong Kooi Ong goes short on the RM
2. . Malaysia spends reserves to protect the RM against speculators
3. Media empire is used to spread doubt to drive the RM down further
4. Tong Kooi Ong closes his trade after the RM has devalued enough for a significant profit
5. USD position of estimated USD1.4 billion is converted to devalued RM for huge profit. Bank is paid back initial loan of now devalued RM. The difference between the initial cost of the RM and the devalued cost of the RM is pure profit.

We urge members of the public to share this article with their friends and family Reports have been lodged with Bank Negara Malaysia and the securities commission but we urge the public to lend their support by lodging their own reports.

Revisiting the 1997 financial crisis.

During the 1997 financial crisis, the greed of a few unpatriotic speculators caused Malaysia to enter into a recession. Greed led speculators to make millions, if not billions, at the expense of the country.

Malaysian bankers then were hard at work unethically betting against the ringgit. Currency speculators borrowed ringgit from offshore forex markets and sold it. They proceeded to dump the money into the market – pushing the exchange rate down even further.

Once the ringgit was devalued sufficiently from all the selling down, these ruthless traders bought back the currency at a much lower price, paid back their borrowings and made a handsome profit, whilst millions of people in the country suffered and continued to suffer as Malaysia entered a recession.

Dangerous rumours were circulated about the deterioration of the economy, as it would aid the profitability of their short selling.

In response to the currency crisis in 1997, Malaysia banned short selling. However, once the economy recovered sufficiently, the ban was lifted in March 2006.

Why should a weakened currency matter to you?

During the 1997 crisis retrenchments soared by 444%. 83,865 people lost their jobs in the first 3 months of the crisis. The per capita income dropped drastically by half from USD5,000 to USD2,500. The ringgit drooped from RM2.50 per USD to, at one point, RM4.80 per USD. The KLCI fell from approximately 1300 points to nearly as low as 400 points in a few short weeks.

When a currency is heavily devalued unemployment rises and household incomes drop. Households change their spending habits to only purchase needs, this affects the entire economy as less people eat out or go shopping. A downward spiral begins as people lose their jobs, businesses have less customers resulting in the need to cut costs further which results in the lost of more jobs.

During the 1997 crisis despite strict counter measures from BNM, the country’s GDP suffered a sharp contraction of 7.5% in 1998, and the country went into recession.

During a recession people go out of business resulting in loss of jobs, projects get abandoned and local banks get huge withdrawals from customers.

As jobs become scarce people put up with lower pay with higher workloads and harsh working conditions. The number of bankrupts in the country increases as loans are defaulted on. People lose their houses, as they are unable to service their mortgage.

In the aftermath of the assault on the ringgit in 1997, Dr Mahathir said in reference to currency traders “There is absolutely no consideration given to the sufferings and miseries on the suddenly impoverished people and their countries. Going beyond the economic field, the threat of losing confidence was extended into the social and political fields. In one instance, the currency of the country was devalued by 600%”

“Currency war can achieve political objectives just as well as a military war.”

-Tun Mahathir wrote on his blog 29 March 2012 in reference to the 1997 currency crisis.

Rogue traders are back with a vengeance to profit from the weakening ringgit against the US dollar with one taking a short sell position against the Malaysia ringgit amounting to USD1.2 billion (RM4.32 billion).

This particular player, a former banker, has a huge appetite for more and is said to be working with a few hedge funds to up the stake. The player will be revealed in our next series.

The ex-banker started in September 2014 and in a short four months he has bet at least USD1.2 billion for the ringgit to fall. He is replaying what he did in 1997 when the greed of a few unpatriotic and disgraceful speculators caused them to have no qualms about making millions, if not billions, at the expense of the country. They made a lot of money short selling currencies they believed would fall, thus worsening the situation.

Forex traders watchers believe he is following the playbook of another prominent ex-banker who lost his finance empire after being exposed as among rogues who betrayed the country. He too lost his innovative banking group and left Malaysia for Canada, only to return later.

These people were hard at work unethically betting against the ringgit. Currency speculators borrow ringgit from offshore forex markets and sell it – dump the money into the market – pushing the exchange rate down even further.

Once the ringgit is devalued sufficiently from all the selling down, these ruthless traders can buy back the currency at a much lower price, pay back their borrowings and make a handsome profit, all while millions of people in the country suffer.

The former banker who is now a strong critic of Putrajaya is said to be increasing the bet going beyond just profiteering. Observers said he is attempting a triple kill, making money at the expense of the country, sabotaging the economy to undermine the government and ultimately topple the government.

“He has the money, friends in high positions and influence to sabotage in the name of change. He can be likened to a traitor using currency as a weapon to destroy the country for personal gains,” one observer said.

Former PM Tun Dr Mahathir Mohamad had said “currency war can achieve political objectives just as well as a military war … The idea that the attack against our Ringgit was deliberate is not too farfetched. The Western Press and Government leaders in certain countries had made it clear that they desired to bring down the Government of that time for very many reasons,” he wrote in his blog on 29 March 2012 in reference to the 1997 currency crisis.

In an earlier criticism on currency traders, Dr Mahathir said: “There is absolutely no consideration given to the sufferings and miseries on the suddenly impoverished people and their countries. Going beyond the economic field, the threat of losing confidence was extended into the social and political fields.”

Even when Bank Negara limited non-trade ringgit swaps to RM2 million in August 1997, these traders did not put off their greedy moneymaking. They turned to selling Malaysian stocks to source for more ringgit. In simple terms, they now short sold stocks in Malaysian companies too thus leading to a near collapse of the KLSE leaving small investors bankrupt.

Efforts to regulate the insane selling backfired and by the end of August 1997, the KL Composite Index (KLCI) showed a fall of 208 points or 20.5%, the largest one month fall in history. As a response to the currency crisis, Malaysia banned short-selling. However, once the economy recovered sufficiently, the ban was lifted in March 2006.

The ringgit dropped from RM2.50 per USD to, at one point, RM4.80 per USD. The KLCI fell from approximately 1300 points to nearly as low as 400 points in a few short weeks.

Despite strict counter measures from BNM, in the short run the country’s GDP suffered a sharp 7.5% contraction in 1998, and the country went into recession.

Per capita income dropped drastically by half from USD5,000 to USD2,500.

People went out of business and lost jobs, projects were abandoned, and local banks had huge withdrawals from their customers.