Tuesday, 9 February 2016
Tabung Haji: Ganesh dan Mujahid disekolahkan Akauntan Melayu
Isu Tabung Haji selesai dijelaskan dan penyimpan mendapat dividend dan bonus yang baik sekali tetapi ada pula bekas wartawan yang sudah lari ke australia dan batalkan kewarganegaraan Malaysianya cuba ungkit isu baru kononnya. Mujahid pula cuba menunjukkan kebodohannya.
Ganesh berkata kononnya:
The following figures (in Ringgit million ) have been extracted from Tabung Haji's audited financial statements for the relevant years. The figures are from the cash flow statement, not the profit and loss,for the cash flow statement gives a better picture of how much cash a business has gained or lost.
In that way it is more a objective assessment of a business' performance,for profit and loss numbers are easily manipulated.
These numbers show how much cash TH has mostly lost from its ordinary business operations.
The "Group" column is a consolidated figure ,summing up cashflow from operations of all the companies TH controls.The "Tabung Haji" column shows what Tabung Haji earns on its own, without counting the companies it controls.
Baca sepenuhnya di SINI
Sebaik disebut "cash a business gain or lost" nampaknya dia tak faham apa yang ditulisnya. "Cash is generated" dan bukan "gain".
Seorang CFO dan pastinya Akauntan, Azmi Arshad telah membidas Ganesh:
TABUNG HAJI - REBUTTING GANESH SAHATHEVAN, THE BLEEDING BLIND LEADING THE BLIND LEADING THE BLIND
An ex-Malaysian (and non Muslim of course) has jumped on the bandwagon attacking Tabung Haji. So now we have a Malay (Rafizi), Chinese (Nga Kor Ming) and Indian (Ganesh Sahathevan) attacking Tabung Haji. Muhibbah lah tu. Don’t be impressed or fooled by technicalities, jargon and selective details. After having some success persuading depositors into withdrawing their savings from Tabung Haji, TH haters are now trying to fool you that TH is 'bleeding billions of cash' to keep the momentum going.
If I were allowed only a 10-word sentence to reply to Ganesh Sahathevan on his cashflow analysis, it would be "TH is not a trading company, contractor or bank, bodoh”.
These are my responses to the malicious allegations of the kafir harbi (semoga beliau mendapat petunjuk dan hidayah):
1. SPIN: "... in the case of Tabung Haji the Group figure is not so useful for there is no guarantee that TH can draw on the cashflow of Group companies to meet its financial obligations ie its obligations to depositors who can at anytime demand their money."
Ganesh Sahathevan is talking utter nonsense about the parent not being able to flow up cash from its subsidiaries. All TH has to do is compel the subsidiaries to declare dividends. ....
Teruskan di SINI
Sambil itu Azmi Arshad turut sekolahkan Mujahid dan FB pro-Bersih Wan AHmad Fayshal:
TABUNG HAJI (AGAIN) - ANSWERING DR MUJAHID YUSOF RAWA
Gong Xi Fa Cai to my Chinese friends.
A few people asked me to respond to Dr Mujahid’s remarks on Tabung Haji. At first I ignored the article because his error was too simple (and people might have figured that from my previous posts on Tabung Haji) but changed my mind ....
... when I saw that the Novice had not only shared the article but also expressed his trust in Dr Mujahid's knowledge. Novice admires Dr Mujahid and seemed to have also convinced his blind followers. Don’t forget the Novice also relied on Ganesh Sahathevan’s cashflow analysis that falsely claimed TH had lost billions in cash. The article on Dr Mujahid had many likes and shares on Facebook so this is another case of the blind leading the blind leading the blind. Zombies... zombies everywhere.
The English article (shared by the Novice).
But I am responding to the BM article because there is more rambling by Dr Mujahid here:
Maaf saya jawab dalam Bahasa Inggeris. I have split Dr Mujahid's remarks into 8 parts for hopefully easier understanding:
1. Parti Amanah Negara (Amanah) menuntut Lembaga Tabung Haji mendedahkan sumber pembayaran dividen dan bonus kepada pendeposit bagi tahun 2015, menegaskan ia tidak seharusnya dibuat menggunakan rizab tabung itu yang disahkan Bank Negara Malaysia sebagai negatif.
Dr Mujahid is ignorant in accounting and is confused about BNM’s advice or caution. Dr Mujahid is not aware of the fact that the parent’s negative reserves (-RM351 mil) is the net sum of POSITIVE distributable reserves (Rizab Boleh Agih -- see chart) and negative non-distributable reserves. Dividend is declared only from distributable reserves. Negative non-distributable mathematically reduces total reserves but does not reduce distributable reserves.
There is no legal set-off of the two reserves. The fact is that non-distributable reserves, whether positive or negative, do not impact dividends. (Note also from financial health perspective that 2014 group reserves was positive RM1.14 billion but this is also not the source for dividend).
2. Naib Pengerusi Amanah, Datuk Dr Mujahid Yusof Rawa berkata, Tabung Haji perlu meyakinkan masyarakat yang dividen itu dibayar berdasarkan keuntungan, dan bukannya rizab…… "Soalan yang lebih asas tidak terjawab. Iaitu, bagaimana bonus dikeluarkan dalam keadaan mereka membayar dividen lebih daripada keuntungan yang mereka perolehi?"
The question is half valid and half false.....
Baca seterusnya di SINI
Cubalah ahli politik dan wartawan usahlah cuba memandai dan SPIN dalam subjek yang bukan kepakaran mereka. Biarlah akauntan yang buat komen baru ada kredibiliti.