Stock Exchange down, CEO lies about computer glitch?

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Jul 03 2008
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Frustration and cursing were all over the day when the local stock exchange, Kuala Lumpur Stock Exchange (KLSE), was down for the day – the worst in the exchange’s history. Initially Bursa Malaysia Securities said trading would be suspended for at least the morning trading session from 9am to 12.30pm following a multi hardware failure in its core trading system. The exchange blamed the problem on computer glitch and promised the trading would resume in the afternoon session but after lunch the system was still down until end of the day’s trading hour.

Now, Bursa Malaysia chief executive Yusli Mohamed Yusoff confidently told reporters that the day-long closure, which resulted from the failure of a computer hard disk, will resume tomorrow. KLSE down for the dayI’m not sure what else the CEO will blame if the so-called technical problem couldn’t be resolve from tonight until tomorrow before the opening bell. Dealers already warned the country’s benchmark index could fall sharply when trade resumed (tomorrow). A dealer at a foreign brokerage said people who couldn’t sell today will dump their stocks first thing in the morning tomorrow. Another dealer said the market is bearish and most of futures contracts are being short and predicted the index could easily plunge 5 percent tomorrow.

When you thought the excitements from the local political landscape is due to take a rest after opposition de-facto leader Anwar was accused of sodomy “again” days ago, suddenly P. Balasubramaniam, the private investigator hired by Abdul Razak Baginda released a shocking statutory declaration alleging the police had deliberately omitted pertinent information about the Altantuya Shaaribuu murder case.

In the declaration, he claimed that he had told the police that Razak said he was introduced to Altantuya by Datuk Seri Najib Tun Razak at a diamond exhibition in Singapore and that Najib told him that he (Najib) and Altantuya had a sexual relationship and that “she was susceptible to anal intercourse.” Balasubramaniam said Razak told him that Najib had asked him (Razak) “to look after” Altantuya aka Aminah because he did not want her to harass him now that he was deputy prime minister.

While Bursa CEO Yusli was cool about the trading problem today saying it was normal, Prime Bursa CEO liesMinister Abdullah Ahmad Badawi said the technical glitch gave a bad impression to foreign investors but denied that the stock exchange was suspended due to current political uncertainties. Now, Yusli might be able to bluff normal people out there but any first year I.T. student would fall off the chair laughing at the reason give – the failure of a computer hard disk. This silly excuse is out-dated and cannot be used at the current I.T. age considering hard-disk would have multiple backup or fallback plans in place with the importance of Bursa Malaysia as the stock exchange of the country.

Heard of RAID-5, RAID-1, RAID 0+1, mirroring, clustering, replication, data protection and disaster recovery plan Mr Yusli? Of course he heard of it and obviously these were in place else he should be sacked immediately. Bank Negara (Central Bank) and Securities Commission should have audit their DR (disaster recovery) plan, no? It’s puzzling to hear such ridiculous statement from the CEO. Come on, tell us the actual reason and we might just forgive the stock exchange but to lie and follow the foot-steps of politicians is simply unacceptable.

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What the F*** man!!!
What about High-availability??? Clustering…. I know some big company were their vendor….
You never heard of NAS / SAN????
Or at least RAID 10.

RAID 5 is in the old days and for SME only, not for stock exchange where daily trading in multiple of millions.

Aiyooo, call some scrap people and sell the spoil hard disk la, there is one shop who does it at recycle.my, small company who buy old computer stuff. Better still sell of the whole bursa system then.

What a shame la even my small company use NAS for file sharing…this is trading floor….

Joke of the Century man ….he should hide his head la like ostrich ….a shame to all the IT guys in KLSE and their vendors……their IT geeky friends must be laughing like mad….someone will do suicide i think either the IT guys or the brokers…hehehehehe

Whoops…maybe there was a C4 in their data centers…

Breaking news!!!
The private detective retracted his statutory declaration, and said he was forced into alleging Najib at the 1st place!

hello scrap klse,

hmmm, didn’t know there are raid-10 … thanx for your comment … maybe he shorted lots of futures contract and was making good money now 🙂

cheers …

hello yow chuan,

sounds more like anwar was sodomising their servers or hardware so much so that they have to clean up the mess …

cheers …

hello david,

not surprise though considering his destructive allegation … a simple threat from the you-know-who could do the trick …


Hi Stocktube,

About the RAID 10, it is sometime called RAID 1+0, the concept is same as your RAID 0+1 but it does it the other way around, mirrored sets in a striped set.

hello scrap klse … if it’s raid 1+0 then i understand … thanx for your comment …

cheers …

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