Hope of election rally didn’t materialize, if the performance of Kuala Lumpur Stock Exchange since the dissolution of Parliament is any yardstick to goes by. Stocks were plunging inline with the bleeding KLCI. Stock traders, speculators or gamblers were not bored though since two other venues to make money sprang due to this 12th General Election. I’ve wrote the first one, the 4-D or 3-D number forecast and there could be more “numbers” to come. For example if somehow Koh Tsu Koon who is more indecisive than the PM himself lose his Parliament seat, then you can bet gamblers will come out with some lucky 4D numbers to bet.

The second chance of making money is definitely the illegal betting of who will become the new Penang Chief Minister. In fact the betting could span wider scope such as would Malaysia Prime Minister’s son-in-law becomes the Negeri Sembilan new Chief Minister? Yes, that’s the most talk-about gossips. Khairi Jamaluddin, the 32-year-old son-in-law of PM Abdullah Badawi, has been given the go-ahead from the PM himself to contest the Rembau parliamentary constituency, confirming the rumors. Speculations and rumors are blowing like Hurricane Katrina that Khairi whose dream is to become the youngest Malaysian Prime Minister before the age of 40 is surely to win the Rembau seat. But it would be too obvious if he was to be given the easy ride to the Chief Minister post right after he wins the Rembau seat.

Talk about building dynasties, the PM Badawi could easily justify that he was merely following the foot-step of other politicians. Heck, there’re more than a dozen politicians who are building their family dynasties in the lucrative politics field in Malaysia. For example, the former Health Minister Chua Soi Lek who was recently caught with his pants-down in Sex-DVDs scandal is pushing his son to take over his place. Energy, Water and Communications Minister Lim Keng Yaik who is retiring from politics has ensure his son Lim Si Pin is contesting; the same way as Ling Hee Leong, the son of former MCA president Ling Liong Sik, who happened to becomes the controversial billionaire for a couple of months before the 1997-1998 Asia Crisis. Poor Ting Chew Peh of Gopeng suddenly found himself not wanted in favor of junior Ling and has to release the safe-seat.

However one trend is obvious with this round of 12th General Election – lots of new faces and last minute changes to the candidates list. The ruling government especially the UMNO is obviously banking on many new faces to ensure voters are given choices and not sick and tired of same old guards who thought they’re still welcomed despite their grandfather’s age. At the same time it’s perfectly alright to argue that it was a pre-planned action to wipe off all pro-Mahathir (former premier) supporters. It’s a perfect double-edged sword to help revitalize UMNO’s support as well as to kill off all Mahathir’s leftover.

The same thing can be said of MCA, another component party of ruling government. People are inclined to speculate that the Deputy President of MCA Chan Kong Choy stepped down to hide from the PKFZ, Malaysia’s biggest scandal. But it definitely holds water that the MCA President, Ong Ka Ting, was out to clear all Team-B leftover as well – part of internal cleansing. Chan Kong Choy was part of the Team-B while Ong Ka Ting belongs to Team-A before Ling Ling Sik and Lim Ah Lek came to an agreement to pass the baton to Ong and Chan.

But the most shameless thing ever happens was definitely how Ong Ka Ting promoted his brother, arrogant Ong Ka Chuan, to important positions as secretary general of MCA despite losing big-time to spicy DAP MP Fong Po Kuan in Batu Gajah during 2004’s 11th general election and is now running away. That’s right, the elder brother of Ong Ka Ting who arrogantly predicted he could thrash Fong Po Kuan with 5,000 majority votes was instead humiliated when Fong won with more than 7,000 majority votes instead. Not taking any chances, Ong Ka Chuan chickened out and it appears he has found a save-seat in Tanjong Malim this time around. Ong Ka Ting is rushing against time to ensure his brother could become MCA President in the plan to continue his dynasty.

On the same mission to continue their dynasty is Sarawak Chief Minister Taib Mahmud who control Cahya Mata Sarawak Berhad (KLSE: CMSB, stock-code 2852) which in turn controls Utama Banking Group (KLSE: UBG, stock-code 6831). The good father is making way for his son Sulaiman to take over the family dynasty. On the other hand the man who owns the palace comparable to Sultan of Selangor has been dropped to minimize damages. The man behind Zakaria Palace however has ensures that his daughter-in-law, Roselinda, could at least continue the family’s dynasty, temporarily.

What about the infamous MIC President Samy Vellu? There were talks earlier that Samy tried to push his favorite son, Vell Paari, to the frontline as part of his dynasty building effort but the mention of Maika (Vell Paari is the CEO of Maika Holding) might just waste a seat. Samy was trying to step down honorably when he announce this could be his last term but every Tom, Dick and Malaysian Indians know he was beating around the bush. Given chance, he preferred to die as MIC President than to retire peacefully.

Of course the oppositions are building their dynasties as well, albeit for different objective. Lim Kit Siang, Karpal Singh, Anwar Ibrahim are some of the opposition leaders who are grooming their sons / daughter to continue their struggle. Meantime, there has been wide spread report of UMNO members protested against the dropping of their incumbent candidate but the aged former premier Mahathir could sense the building of political dynasties (MalaysiaKini).

Other Articles That May Interest You …

• PM lied, Parliament dissolved, Elections on, Rumors won
• Mirror mirror on the wall who’s the biggest liar of all?
• Why you should become a politician in Malaysia
• Chua Soi Lek’s Sex DVDs, Cuckoo ends his Career
• No fees but shareholders fuming Ling Chicken Out
• Poor’s Hope in MAIKA – the Last Robbery
• Malaysia’s Biggest Scandal – Business as Usual
• Will There Be A Long Tussle For RHB?

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February 23rd, 2008 by financetwitter

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