Share This

Tuesday, September 19, 2017

JPMorgan CEO warns he will fire any employee trading Bitcoin for being “stupid.”

 

 
Tough stand: Dimon has warned that he will fire JPMorgan traders who traded in bitcoin ‘in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.’ — AFP

NEW YORK: JPMorgan Chase & Co chief executive officer Jamie Dimon said he will fire any employee trading bitcoin for being “stupid.”

The cryptocurrency “won’t end well,” he told an investor conference in New York on Tuesday, predicting it will eventually blow up. “It’s a fraud” and “worse than tulip bulbs.”

If a JPMorgan trader began trading in bitcoin, he said: “I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

Bitcoin has soared in recent months, spurred by greater acceptance of the blockchain technology that underpins the exchange method and optimism that faster transaction times will encourage broader use of the cryptocurrency.

Prices have climbed more than four-fold this year – a run that has drawn debate over whether that’s a bubble.

Bitcoin initially slipped after Dimon’s remarks. It was down as much as 2.7% before recovering.

Last week, it slumped after reports that China plans to ban trading of virtual currencies on domestic exchanges, dealing another blow to the US$150bil cryptocurrency market.

Tulips are a reference to the mania that swept Holland in the 17th century, with speculators driving up prices of virtually worthless tulip bulbs to exorbitant levels.

That didn’t end well.

In bitcoin’s case, Dimon said he’s sceptical authorities will allow a currency to exist without state oversight, especially if something goes wrong.

“Someone’s going to get killed and then the government’s going to come down,” he said.

“You just saw in China, governments like to control their money supply.”

Dimon differentiated between the bitcoin currency and the underlying blockchain technology, which he said can be useful.

Still, he said banks’ application of blockchain “won’t be overnight.”

The bank chief said he wouldn’t short bitcoin because there’s no telling how high it will go before it collapses.

The best argument he’s heard, he said, is that it can be useful to people in places with no other options – so long as the supply of coins doesn’t surge.

“If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than US dollars,” he said.

“So there may be a market for that, but it’d be a limited market.”— Bloomberg


Related Links:

 



Related posts:

Sunday, September 17, 2017

Living at the edge of chaos, climate change is not fake science


Nature’s fury: A car dealership is covered by Hurricane Harvey floodwaters near Houston, Texas. The chaos caused by the hurricane proves that climate change is not fake science. — Reuters

THIS month, two Category 4 hurricanes hit the United States within 17 days of each other. In Asia, North Korea is threatening nuclear Armageddon, and floods and famine are putting thousands of lives at risk from Bangladesh to Yemen. How can one survive in this chaotic era?

A first step must be to make sense of the apparent chaos. Hurricanes Harvey and Irma have proved that climate change is not fake science, but real threats to home and security. When hailstones the size of golf balls hit Istanbul in the middle of summer, even the agnostics accept that climate change is serious business.

The biggest uncertainty that has hit Asia recently is the shock that North Korea has not only developed possibly a hydrogen bomb, but also the missile capability to deliver it even to the United States. This has changed the geopolitical balance not only in North Asia, but globally because it is no longer possible for the United States alone to contain nuclear proliferation.

Physics teaches us that chaos is often a characteristic of transition from one order to another. Chaos is also a pattern in which there is apparently no discernible pattern.

But there is a seismic transition from a unipolar world led by the United States to a multi-polar world of competing powers and ideology, particularly after the 2007 global financial crisis. As the share of US GDP in the world declines relative to the rest, the rise of China, India and increasing assertion by Russia and non-state players like IS means that the United States’ ability to dominate militarily and ideologically is being challenged.

At the same time, increasing stresses from social inequalities and paranoia of terror, immigration and job loss have tilted the United States to become more inward looking. The Trump administration has dramatically begun to dismantle the neoliberal order of multilateral trade and finance that shaped US foreign policy since the end of the Second World War.

There is a raw open division within the United States in outlook and values. The Democratic Left believes in maintaining the old order of moral leadership on human rights, democracy and multilateral global stability and prosperity. The Republican Right questions these beliefs and prefers America First, negotiating bilaterally to achieve that premier status.

Earlier this year, the Pentagon asked the Rand Corporation to conduct a review on “Alternative Options for US Policy toward the International Order”. The key questions for the New Global Order are: Who sets the rules and how binding are the rules?

The study breaks the future order into two camps of rule-makers – the US and its allies or a concert of great powers. Under such a division, there are two conditions where rules are binding – one dominated by the US camp to enforce rules and the other where the great powers agree to a global constitutional order enforced by institutions. The other two conditions where rules are not binding involve a coalition of states aligned to counteract against revisionism and a new concert of great powers.

The immediate problem with the Rand categorisation of New Order Visions is that the existing liberal, rules-based order is not being challenged by others, but by the US itself.

First, after German Chancellor Angela Merkel’s comment earlier this year that Europe must begin to look after its own interests, it is no longer clear that America’s traditional allies are going to follow the US leadership when there are serious disagreements on trade, climate change and immigration. It is no coincidence that the largest trade imbalances are no longer between China or oil producers with the US, but between Europe and the United States. Germany alone is running a current account surplus equivalent to around 8% of GDP.

Second, within the Middle East, alliances are shifting almost by the day. The quarrel between Saudi Arabia and Qatar has riven the Gulf Cooperation Council, while Turkey is playing an increasingly pivotal role within the shifting alliances.

Third, North Korea’s bid for nuclear power membership, despite being a small state, means that Great Powers may have to accommodate new players whether they like it or not.

Fourth, climate change in the form of Hurricanes Harvey and Irma demonstrate that nature can impose larger and larger economic losses on nations and regions, which will require global public goods that the current order is neither willing to fund, nor able to agree on how to address. The economic losses from Harvey alone is estimated at US$180bil, equivalent to the annual GDP of a middle-income economy. The existing multilateral bodies such as the United Nations and the World Bank are facing serious resource shortages relative to these new global demands.

The bottom line is that the current order has neither the resources nor the collective will to enforce rules when the human population growth puts increasing competition for scarce water, food and territorial spaces. Chaos arises from the breakdown of rules and borderlines.

In short, globalisation of trade, information and human migration has meant that traditional borders in many regions are becoming non-enforceable. For example, it is 101 years since the 1916 Sykes-Picot Agreement divided up the collapsing Ottoman Empire into British, French and Russian spheres of interest and eventual control. These borders were drawn and enforced by the Great Powers through their military superiority.

Seen from the long lens of history, with the Great Powers being unwilling to put troops on the ground to enforce borders drawn up under the colonial era, these artificial borders are failing.

A hallmark of the times is that even the best of think tanks cannot map out how to navigate through this era of disruptive technology, unpredictable climate and shifting alliances and interests. What history teaches us is that the fault lines will be at the borderlands, at the confluence of emerging forces and stresses.

We should therefore be prepared for not only disruption at the borderlands of physical space, but within the realms of cyberspace.

By Andrew Sheng

Tan Sri Andrew Sheng writes on global issues from an Asian perspective.

Related Links:

Proton CEO to resign Sept 30, China's Geely to nominate CEO for main unit - Business News

Related posts:

Humans Are Destroying the Environment   PETALING JAYA: They are supposed to be guardians of the environment, and yet “certain enforcem...


Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.  Approximate Coordinates : 5°20'38.47"N,100°16'..

Thursday, September 14, 2017

RM40mil siphoned off from the Malaysian Human Resources, Skills Development Fund Corp !


PETALING JAYA: Some RM40mil from the Skills Development Fund Corp is believed to have been siphoned off by those tasked with utilising it for the benefit of the people, sources revealed.

Anti-graft officers detained the cor­­­poration’s 58-year-old chief execu­­tive, who is a Datuk, over the alleged misappropriation of funds.

Others detained included the corporation’s 34-year-old secretary, a 32-year-old assistant financial officer and a 38-year-old director of a company who goes by the honorific “Dr” title.

All of them were picked up in seve­ral places in Kuala Lumpur between 4.30pm and 6pm yesterday.

One of the suspects is said to be an office-bearer with a state Umno division.

Malaysian Anti-Corruption Com­mission deputy chief commissioner (operations) Datuk Azam Baki confirmed the arrests.

Sources said the suspects were said to have collaborated with the company director to siphon the allocation provided by the Government.

The corporation is a statutory body under the Human Resources Mi­nistry. It is responsible for provi­ding financial assistance in the form of loans to individuals, such as school­-­leavers, graduates and others who are interested in pursuing Ma­­laysian Skills Certification, Malaysian Skills Diploma and Malaysian Ad­­van­ced Skills Diploma at public or private skills training institutions.

It is learnt that the misappropriation of funds has been going on since last year.

In 2016, the Government allocated RM35mil to the corporation and another RM40mil this year to carry out training programmes.

“Initial investigations showed RM15mil was believed to have been siphoned off last year. Another RM25mil is believed to have been misappropriated this year,” said a source.

It is learnt that three of the suspects had also collaborated with the company director to allow 15 of his registered companies to manage the training programmes.

But none of his companies was said to have been equipped with the expertise to conduct such training.

Azam said the MACC would be calling up several witnesses “very soon and that more arrests could be expected”.

“We will carry out a thorough probe as it involves public funds. Our officers will also be sei­zing relevant documents related to the case,” he said.

Source: By Simon Khoo The Star

'Reward them to curb graft' - It is not wrong to give cash to whistleblowers, says MACC chief




KUALA LUMPUR: Rewarding civil servants with cash for exposing corruption is not wrong but it should not be the sole focus, says Tan Sri Dzulkifli Ahmad.

The Malaysian Anti-Corruption Com­mis­sion (MACC) chief commissioner pointed out that offering cash incentives to whistleblowers was just one of the many initiatives in tackling corruption.

“There are many more activities and campaigns done by us which should be taken into account. Is it wrong for us to reward those who refuse to accept a bribe? We are showing our appreciation to those who choose to remain clean, and we look up to these people,” he said after launching the MACC’s anti-corruption posters and painted messages on three Mara Liner buses at Terminal Bersepadu Selatan yesterday.

Civil servants who report cases of corruption are entitled to receive an incentive equal to the amount offered in the bribes, with the lowest sum set at RM500.

However, of the 1.6 million civil servants, only 0.01% have reported cases so far.

In acknowledging this, Dzulkifli said it should not be equated to many civil servants on the take or that they were not serious about eradicating corruption.

“As a matter of fact, we do have a number of them coming directly to provide information but they do not want to lodge an official report.

“Some refuse the bribes offered to them but choose to just tip us off without eyeing a reward,” he said.

On another matter, Dzulkifli opined that “sharks” were now fearful of the MACC due to the “aggressive action” against offenders.

“Clearly, we managed to instil a sense of fear. Many people I meet say they can see fewer giving or taking bribes.

“We see this as a positive sign. We will continue with new arrests, probes and charges every week,” he said.

Later in Putrajaya, Dzulkifli said they would wage a war against illegal gambling den operators and put a stop to their illegal business.

He said the time had come for the issue to be looked into seriously and aggressively, including licensed outlets and cybercafes which al­­lowed online gambling in their premises.

“The issue of gambling dens operating illegally is not new. In fact, even the Deputy Prime Minis­ter has spoken about it. But we don’t see the number of these outlets decreasing.

“I think it is about time we take aggressive action against the operators and those who protect them,” he said after a dialogue with NGO Fight Against Illegal Activities Movement or GBAH.- The Star


Related Links:


MACC must walk the talk to be credible


MACC freezes RM10mil in SDFC probe - Nation 


Richard Riot questioned for 10 hours - Nation




https://youtu.be/PISCs8pfJVA

Minister's political aide remanded - Nation



Related posts:

Mereka Rasuah Kita Bayar! 3J drive: Jangan Kautim, Jangan Hulur, Jangan Settle! 

Time to take fight against graft to the top, say group 

The Malaysian Anti-Corruption (MACC) movement underway on zero tolerance for graft 

Reject corrupt practices, weed out the bad apples, don’t hesitate reporting bribery

Reporting an offence is not defamation 

Making the corrupt fear whistleblowers, not the other way ! 

All in a day's words in politics 

Ex-Johor exco man, son and consultant face 21 counts amounting to RM36m 

What concerns Malaysians most ?

Engineer vs Doctor 

Arrest decline in productivity and competitiveness in Malaysia 

Huge Civil Service Size, Attractive Emoluments and Benefits are costing Malaysia ! 

Corruption has no place in any culture 

Fighting corruption a decade later: Wars on graft widens 

Another big fish nabbed for corruption, graft rampant and serious!  

Year in review 2016 - MACC makes record haul in 49 years from top officers of Sabah Water  dept

Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.  Approximate Coordinates : 5°20'38.47"N,100°16'...

Sunday, September 10, 2017

Graft destroys nature as Corrupt officers see no evil as environment is being ravaged


PETALING JAYA: They are supposed to be guardians of the environment, and yet “certain enforcement officers” are found to be tolerating illegal activities that are detrimental to nature – all for personal gain.

Pollution and unauthorised felling of trees, for instance, could be traced to those working in cahoots with the culprits, according to sources.

Several recent cases such as the illegal bauxite mining in Kuantan, flash floods in Cameron Highlands and the illegal sawdust factory in Kampung Sungai Lembu, Penanti, Butterworth, were all linked to abuse of power and corruption.

“Some of them are more inclined to soliciting and receiving monetary gains in lieu of their responsibilities in protecting the natural surroundings.

“As a result, it has created greater problems to the fragile environment at the expense of future generations,” said a source.

The source added that stern action needed to be meted out against these irresponsible officers in order to put a stop to the wanton destruction.

If nothing was done, it could lead to adverse effects to the people in terms of public health and safety, the source said.

“All enforcement agencies tasked to preserve the environment must be serious in discharging their duties diligently.

“In this regard, the Malaysian Anti-Corruption Commission (MACC) has done its part to send out a stern warning with numerous arrests and prosecutions in court,” the source said.

Over the past few months, scores of enforcement officers including those from the Customs, Land Office and local councils were nabbed on suspicion of receiving bribes to turn a blind eye on illegal activities detrimental to the environment.

The MACC also held several dialogues with NGOs and environmental groups through an Environmental Protection and Anti-Corruption Caucus to share information on corruption issues.

With this strategic collaboration, illegal activities such as illegal logging, river pollution and clearing of land could be prevented from recurring.

By Simon Khoo The Star/Asian News Network

Authorities fighting an uphill battle against ‘rape of hills’


PETALING JAYA: The authorities are waging an endless war against illegal loggers, with some enforcement officers even labelling the wanton destruction of trees as “raping the hills”.

Cases of such destructive activities in recent years include uncontrolled logging and illegal farming in Cameron Highlands, which polluted several rivers.

In April this year, a former Terengganu Forestry Department director was charged with accepting RM60,000 from a timber contractor four years ago as an inducement to approve a logging application for Hulu Terengganu Forest Reserve.

Two men were detained in the Bukit Bauk Forest Reserve in Dungun in November last year for removing evidence of illegal logging during an ambush by the Forestry Department. Some 400 tonnes of logs were reportedly seized.

In August last year, a Datuk Seri and two others were arrested in connection with illegal logging in the Cerul forest reserve in Terengganu. They produced a letter from a “high-ranking officer” to evade arrest but failed.

In Pahang, 11 people were detained by the Forestry Department for trespassing into forest reserves with the intent to steal high-value timber.

The Auditor-General’s Report 2015 highlighted illegal logging and encroachment in Perak forest reserves and said it was due to the lack of monitoring and effective enforcement by the Perak Forestry Department.

Logging in Kelantan has also come under scrutiny following allegations of illegal and uncontrolled logging being a possible cause of the 2014 floods in Kuala Krai.

In 2013, Kelantan-based NGO Young People against Corruption (Ombak) discovered rampant land clearing and wanton destruction of virgin forests in Kuala Krai and Gua Musang, affecting at least five hills stretching from the Pahang-Kelantan and Kelantan-Perak borders.

Ombak president Wan Khairul Ihsan Wan Muhammad described the destruction as the “rape of the forested hills”, adding that the activities were stealthily done in the middle of forest reserves to avoid detection.

Anti-graft officers out to stop illegal timber business


PETALING JAYA: Illegal logging, which has cost the country billions of ringgit in losses in taxes and revenue, is the latest target of the Malaysian Anti-Corruption Commission (MACC).

Remote area: A file picture of a suspected illegal logging site in Bakun, Sarawak, that was raided by the MACC.

Anti-graft officers will be focusing on this issue after tackling illegal land clearing, bauxite mining and unlicensed factories.

It is learnt that incidents of illegal logging are “quite rampant and extensive”, causing a lot of destruction to the nation’s fragile eco-system and environment.

Some of the illegal activities are believed to be taking place deep in the jungle, including forest reserves and catchment areas, hidden from public view.

The problem is made worse when some enforcement officers tasked with taking action against illegal loggers are believed to have turned a blind eye and worked in cahoots with illegal loggers.

In return, the officers are said to be promised a certain percentage from profits from the illegal activities every month, paying no heed to the destruction of the country’s forests.

It is learnt that these unethical officers are raking in tens of thousand of ringgit every month as kickback and side income to finance their lavish lifestyle.

MACC deputy chief commissioner (operations) Datuk Azam Baki said such illegal activities must be nipped in the bud before they cause irreparable damage.

“We have received very reliable information from the public on illegal logging.

“It is not just in one particular area, but in several states throughout the country, including Sabah and Sarawak.

“We have set up a few flying squads and they are now collecting evidence on the ground,” he said when contacted yesterday.

He said illegal logging has caused serious pollution, while natural disasters, such as flash floods and landslides could occur more rapidly, endangering the lives of the people.

Azam said the main focus of investigations will be on elements of corruption and abuse of power involving several enforcement agencies, their officers and logging companies.

“Once we have gathered all the necessary evidence, a sting operation will be launched to nab the culprits,” he added.

He said MACC would be moving into several states “very soon”, adding that “we are pretty serious in tackling this issue”.

He welcomed tip-offs from the people to assist in putting a stop to illegal logging and other activities detrimental to the environment.

“We will also work closely with NGOs and environmental groups to collect information,” he added.

In November 2014, the then Sarawak chief minister Tan Sri Adenan Satem declared war on illegal logging, saying Sarawakians must not tolerate corruption anymore because millions in revenue had been lost.

The state, he said, had gained a bad reputation internationally because of “this robbery which is carried out in broad daylight”.

The MACC swung into action with a massive crackdown dubbed Ops Gergaji the following year, and together with several agencies, some 400 bank accounts belonging to companies and individuals with about RM600mil were frozen.

About RM1mil worth of illegally felled logs were also seized.

By Simon Khoo The Star/ANN

Related posts:

Long and winding road: This satellite picture from Google Earth Pro shows five planned interchanges of the Teluk Bahang-Tanjung Bun...


Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.  Approximate Coordinates : 5°20'38.47"N,100°16'...


LATELY, we have been seeing many photographs and a lot of video footage of handcuffed men and women in orange T-shirts bearing the wor...

Monday, September 4, 2017

Rage against hill road plan: We don't want that road, says Penang residents

 
Long and winding road: This satellite picture from Google Earth Pro shows five planned interchanges of the Teluk Bahang-Tanjung Bungah paired road. The road starts at (1) Lembah Permai corner near Sri Vazhikattum Muniswarar shrine. The three interchanges in the middle are (2) at Jalan Sungai Emas, (3) at Persiaran Sungai Permai and (4) near Chin Farm Waterfall. The road ends (5) about 200m from the Teluk Bahang roundabout near the Toy Museum.

GEORGE TOWN: Alarm bells rang among Tanjung Bungah residents after they realised the proposed new road from Teluk Bahang to their neighbourhood entails de- forestation and construction on slopes with gradients steeper than 25 degrees.

They want the project scrapped and demand that the state government think of alternatives.

Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the project known as North Coastal Paired Road (NCPR).

TBRA chairman Meenakshi Raman said the environmental impact assessment (EIA) report showed that 3.34ha of gazetted forest reserves would be cleared for the road.

“Tracts of the Teluk Bahang Forest Reserve and Bukit Kerajaan Forest Reserve will be deforested. How can this be allowed?

“These reserves are gazetted as water catchment areas too,” she said in a press conference at the Tanjung Bungah market yesterday.

She said the EIA report revealed that 46% of the proposed road would be on slopes with gradients higher than 25 degrees.

“The EIA is clear that slope instability risks will be high. Mitigation measures are suggested but haven’t we learned enough about Penang’s development? Landslides occur often here,” she said.

The residents urged the Depart-ment of Environment (DoE) in writing not to approve the EIA. A copy of the letter was forwarded to Chief Minister Lim Guan Eng on Aug 21.

The NCPR is a 10.53km four-lane road from near SK Teluk Bahang until the L-shaped bend of Lembah Permai at Sri Vazhikattum Munis-warar shrine.

This is part of the Penang Transport Master Plan (PTMP) and is under the purview of Consortium Zenith Construction.

It is one of three new roads planned as the traffic dispersal system of the Penang Undersea Tunnel project.

Residents are also confounded by the cost.

Meenakshi said that in 2011, the estimated construction and land acquisition cost of the NCPR was expected at RM1bil.

She said the EIA stated that at an average speed of 70kph, motorists would save 14 minutes of travel time compared with the current coastal road.

“Spending such a huge amount to save 14 minutes is a colossal waste of public resources,” she added.

She felt that the EIA should have included a cost-to-benefit analysis.

“For RM1bil, can’t we think of other alternatives to the traffic problem?”

In response, state exco member Lim Hock Seng clarified that the clearing of the forest reserves was studied in the EIA as a requirement but the state was planning to avoid forest clearing.

“The first phase of NCPR is from Batu Ferringhi to Tanjung Bungah. That is the most urgent.

“The Teluk Bahang stretch, where the forest reserves are, won’t be built so soon.

“We do plan to continue examining alternatives to avoid deforestation.”

Lim said the main road in Batu Ferringhi could not “take it anymore during the holiday season” and the NCPR was vital to relieve traffic jams in the area.

Also, he said SRS Consortium, the state’s PTMP project delivery partner, was planning a viaduct from Lembah Permai to Seri Tanjung Pinang.

“So we are not dumping traffic or leaving a bottleneck at the Vale of Tempe Road with the NCPR.

“Motorists can choose between the winding coastal road or the NCPR depending on where they are going.

“This project will help reduce traffic,” he said.

Meenakshi also expressed shock that the EIA stated that NCPR would have 10 proposed interchanges.

But Lim and also Consortium Zenith chairman Datuk Zarul Ahmad Mohd Zulkifli said there would be only three interchanges in the middle of the road.

“They will be between Teluk Bahang and Tanjung Bungah, in Jalan Sungai Emas, Persiaran Sungai Permai and near Chin Farm Waterfall,” said Zarul Ahmad.

Penang Water Supply Corporation chief executive officer Datuk Jaseni Maidinsa gave an assurance that the NCPR’s route would not affect water catchment because the road would be downhill of Teluk Bahang Dam or any other reservoir.

Source: The Star by Arnold Loh

Call to scrap proposed road

 

Troubled spot: Aerial view of Jalan Lembah Permai in Tanjung Bungah, where the North Coastal Paired Road from Teluk Bahang will end in the L-shaped bend of the road. 

GEORGE TOWN: Tanjung Bungah residents want the proposed new road from Teluk Bahang to their neighbourhood scrapped after realising it entails deforestation and construction on slopes with gradients steeper than 25 degree.

Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the North Coastal Paired Road (NCPR).

TBRA chairman Meenakshi Raman said the environmental impact assessment (EIA) showed that 3.34ha of gazetted forest reserve will be cleared for the road.

“Tracts of the Teluk Bahang Forest Reserve and Bukit Kerajaan Forest Reserve will be deforested. How can this be allowed?” Meenakshi said during a press conference at the Tanjung Bungah market yesterday.

She said the EIA revealed that 46% of the proposed road would be on slopes with gradients higher than 25 degrees.

“The EIA is clear that slope instability risks will be high. Mitigation measures are suggested, but haven’t we learnt enough about Penang’s development? The island is sensitive to landslides,” she said.

The residents urged the Department of Environment (DoE) in writing not to approve the EIA. A copy of the letter was also forwarded to Chief Minister Lim Guan Eng on Aug 21.

The NCPR is a 10.53km four-lane road that is part of the Penang Transport Master Plan and is under the purview of Consortium Zenith Construction. It is part of the traffic dispersal system of the Penang Undersea Tunnel project.

The residents are also confounded by the cost. Meenakshi said in 2011, the estimated construction cost and land acquisition cost of the NCPR was RM1bil.

She felt the EIA should have included a cost-to-benefit analysis and “for RM1bil, can’t we think of other alternatives to the traffic problem?”

In response, state exco member Lim Hock Seng clarified that the clearing of the forest reserves was studied in the EIA as a requirement, but the state is planning to avoid it.

“The first phase of NCPR is from Batu Ferringhi to Tanjung Bungah. The Teluk Bahang stretch, where the forest reserves are, won’t happen so soon.

“Although it is studied in the EIA, we do plan to continue examining alternatives and avoid deforestation,” said Lim. - The Star

Related posts:


Stop denying the undeniable high engineering consultancy fees for 3 Penang roads, says minister

 

Dismayed over the exorbitant engineering consultancy fees, 4 times higher !  

 

Behind BJ Cove houses at Lintang Bukit Jambul 1 is IJM Trehaus Project.  Approximate Coordinates : 5°20'38.47"N,100°16'52..

Invalid drainage and construction damaged nearby houses since 2014 must complete its mitigation quickly!

Underground Pipe Culverts from IJM Trehaus site on the left and nearby pond on the right

Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project. 
Approximate Coordinates : 5°20'38.47"N,100°16'52.82"E
Reported  in August 2016. Photos taken in November 2016 and 2014 by Penang Forum
PHW Report 




https://hillclearinginpenang.ushahidi.io/views/map

Sources: Penang Hills Watch (PHW) | Penang Forum

Hill clearing activity by IJM Trehaus Project


Clearing and construction for a condo and semi-detached housing project, Trehaus, reported in http://anilnetto.com/ 26 Aug 2016. Photo taken in 2014 ...

IJM sign-boards
Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.

Underground Pipe Culverts from IJM Trehaus site on the left and nearby pond on the right

  Two invalid pipe culverts formed sinkholes at BJ Cove houses

Originally, there were two natural rivers/streams from the IJM Trehaus site and a nearby pond. No proper drainage system was implemented when housing development started, only two invalid hidden underground pipe culverts were built to channel the waters from the Bukit Jambul hill to Relau district.

The invalid underground pipe culvert from the IJM Trehaus project directly converged at BJ Cove houses from another invalid underground  pipe culvert from a nearby pond were burst, caused soil erosion, house slabs collapsed, multiple wall cracks, PBA water pipe burst, floods, sinkholes (by two pipe culverts converged in red) and damaged  to  BJ Cove houses due to blockages of waters whenever rains and because of lack of drainage system there.  The sinkhole which later converted into a manhole by IJM,  is a clear sign of soil erosion under the ground.

It is a common sense that waters from the natural rivers or streams are naturally running, seeped  through underground even the surface is covered by land-filled soil or with man made culverts.

Therefore, damages to houses were caused by severe soil erosion due to water movement under the road and buildings. 

The following shows the invalid underground pipe culvert from the IJM Trehaus site behind BJ Cove houses at Lintang Bukit Jambul 1:


IJM Underground Pipe Culvert to BJ Cove houses 2018
Waters rising from the IJM Pipe Culvert behind BJ Cove houses 2018
Waters are flowing back from another pipe culvert at IJM site to BJ Cove houses 2018

IJM Underground Pipe Culvert at bottom to BJ Cove houses 2018

IJM modifying/constructing their underground pipe Culvert in 2014 to BJ Cove Houses
IJM modifying/constructing their underground pipe Culvert in 2014 to BJ Cove Houses

IJM Underground Pipe Culvert to BJ Cove Houses 

IJM Drains
IJM Drain Waters go  to the underground Culvert
IJM Underground Pipe Culvert next to BJ Cove Houses



The above and below show the bottoms of  IJM underground pipe culvert 







Waters gushing down from IJM Trehaus site to BJ Cove houses:

Waters flow from IJM Trehaus to BJ Cove houses
 

Waters gushing down from IJM Trehaus site to BJ Cove houses




Waters from IJM site stucked at behind BJ Cove houses

The nearby pond besides IJM Trehaus site:

IJM Hill cutting and hill Clearing 2014

Serious Drainage Issues


The Department of Irrigation and Drainage (DID or JPS) has just started in September 2017 constructing the drain from the pond to divert waters:

A drain under construction by JPS to divert waters from the nearby pond
Drain waters flow plan under construction by JPS to divert waters from the nearby pond

 Letter from Penang Dept of Irrigation and Drainage (DID or JPS) in 2015 blamed IJM  failure to comply with sedement control plan (ESCP) when its Trehaus started in 2014.



Clearly, the underground pipe culverts leaked and waters seeped through the ground and multiple cracks,  as it did not happen immediately but over a period of time!




Developers dishonored directives/letters issued by Penang City Council (MBPP - Majlis Perbandaran Pulau Pinang) in 2015 to rectify the damaged house






Developers have not completed their committments to rectify the damages despite  acknowledged their liability as per letters from Worldwide Venture Sdn Bhd, an subsidiary of IJM Land since 2014!


 
 


Despite the underground pipe culverts declared invalid by JPS and the Penang City Council's (Majlis Perbandaran Pulau Pinang, i.e. MBPP) issued stop work orders directing the developers, Worldwide Venture Sdn Bhd, a subsidiary of IJM Land to rectify the damages within 1 and 2 weeks time since 2015 (as per the above attached letters), the multiple wall cracks, slabs collapsed, PBA water pipes burst, leakage charges, damaging ceiling, electrical DB board, and tiles fallen, broken/popped up,  are still pending settlement and remedial works to be carried out by parties responsible for the damages since 2014 !!



IJM Land only started in December 2017 constructing new drainage to divert waters from Trehaus Site to the pond and underground pipe culverts:


Pictures show IJM only started in December 2017 constructing drainage system to divert waters to the nearby pond and underground pipe culverts


Waters are flowing back to the pond during heavy rain 2018
Waters from IJM site overflown to the pond 2018
For waters to flow out smoothly, the pond must level up with more soils, 2018


Waters in the pond gone up during heavy rain 2018 - must build a wall  to prevent waters from seeping thru houses.
Waters cannot move out smoothly due to obstructions which are being removed by a man  2018
 

It is important that the pond should be made a dried pond instead of existing wet pond on the following reasons:

i) The area was originally a natural river/stream where waters will still be naturally running, seeped through underground even when the underground culverts are to be closed/abandoned later.

 

ii) More waters were being diverted from the IJM site to their underground pipe  culvert and to BJ Cove houses.

 

iii) Now, drain waters from IJM site are being channeled back to IJM pipe culvert to BJ Cove houses at Lintang Bukit Jambul 1 where a manhole next to house no. 20 constructed by IJM is not closed despite it has been declared invalid and illegal by JPS!  This poses concerns to residents at BJ  Cove houses.

c
IJM Drain water Pipe Culvert Site to BJ Cove houses
IJM Drain water Pipe Culvert Site to BJ Cove houses
Waters stuck behind BJ Cove houses at IJM site 2018

IJM Drain  waters  gushing  down to pipe culvert

Sinkhole at house 20 is covered up by IJM's underground pipe culvert from  IJM Trehaus

 

The damaged houses are still pending, not being completely rectified to date !

Damages appeared after IJM began construction works in 2014, like hill clearing, rock-blasting, piling and digging culvert at Trehaus site.  As a result, sinkholes appeared, floods, waters seepage through multiple cracks on the ground, walls, tiles fallen from roofs and popped up from the ground due to vibration from rock-blasting and piling works.

 
Sinkhole converted to manholes (2 in cycles) at BJ Cove houses are visible from the top of IJM Trehasu site

Pictures showing floods, sinkholes at Lintang Bukit Jambul 1, 11900 Penang,  damaged to BJ Cove houses, cracks, waters leakages seeped through the cracks, slabs collapsed, ceilings & tiles broken & fallen, electrical DB board explosion, etc caused by severe soil erosion due to water movement under the road and buildings. The underground pipe leaked and waters seeped through the cracks!


A big Sinkhole near BJ Cove house no. 20

IJM converted the sinkhole into a manhole waters from their underground pipe culvert at Trehaus
These are IJM Manhole converted from Sinkhole:

Sinkhole at house 20 is covered up by IJM's underground pipe culvert from  IJM Trehaus


IJM converting the Sinkhole into Manhole next to  BJ Cove no. 20
Outside house drain and fence damaged by IJM during mitigation of Sinkhole
A big Sinkhole occurred due to invalid underground pipes culverts choked near house no. 20
Waters at the underground pipe culverts flown out from the house No. 20 to outside drain
 
Slabs collapsed due to cracks without compacted hardcore

Roof top Ceiling Board fallen due to strong vibration caused by IJM rock-blasting works 2014

Electric DB Board explored due to burst pipe waters seeped thru the wiring.



Waters leaked from the burst pipes entered into Bedrooms

 Multiple Cracks in Bedrooms 













Plumbers repaired the broken water pipes
















 

Truth Be Told:


The truths be told,  as echoed, reinforced and justified by recent events in  Penang floods on 15th Sept 2017,  Landslides in Tanjung Bungah on 21 October 2017, the storm on Nov 4 & 5 2017, floods again on Jan 5, 2018, and the Huge 'bleeding' landslide in Tg Bungah hill  on May/June 2018  in related posts,

.... see more on links to following reports:

https://youtu.be/ooyXvqmxbvw GEORGE TOWN: Some 20 houses located on a slope in Hong Seng Estate in Mount Erskine were flooded due

Hills, landslides, floods and damaged houses ...

Penang landslides & flooding are natural disasters man-made...  

Penang floods and landslides, looking beyound natural causes!

Penang landslide, whose faults?

Penang Paya Terubong Residents living under shadow of fear!

Penang landslide tragedy, why it happened?  

PAC blamed Penang Island City Council (MBPP) for failing to enforce laws on hillside development  

 

We demand immediate enforcement & Actions to complete the remedial works:

 

1. The parties responsible must quickly without further delays, without condition to settle the claims and start the remedial works to the damaged houses, as both JPS has declared underground pipe culverts invalid and  MBPP has  issued stop work orders directed the developers, Worldwide Venture Sdn Bhd, a subsidiary of IJM Land to rectify the damages within 1 and 2 weeks time since 2015!


2. Enforce IJM's & MBPP' Letters/Stop-work Orders (attached in above), and divert waters from the two invalid underground pipe culverts deemed illegal at the IJM Trehaus site and nearby ponds which must be closed and grouted as a long term solution to the problems. 

 

3. Enforce a fresh cease and desist to Stop Work of IJM Trehaus construction project until the structural damages to house at 20 Lintang Bukit Jambul 1, BJ Cove have been resolved and settled the claim for damages and distress caused by the fear and danger of living in the house, without further delays and their suffering more than four years since 2014.  Repairs and remedial works must start promptly as more damages and suffering will fellow!

 

4. Beef up the enforcement and accountability not just in government agencies but also in professional bodies, like the Board Of Engineers Malaysia (BEM),  the Institute of Engineers Malaysia (IEM), etc to uphold the professional ethics, integrity and standards, to ensure public safety of the buildings and people life.

 

5. The pond must be made a Dried pond for waters to flow out smoothly, because there was originally two natural rivers/streams in the area where waters will still be running/seeping through naturally under the ground. 

 

 6.  Now, drain waters from IJM site are being channeled back their underground pipe culvert flowing to BJ Cove houses at Lintang Bukit Jambul 1 where a manhole next to house no. 20 constructed by IJM  is not closed despite it has been declared invalid and illegal by JPS!  This is a great concern to residents at BJ  Cove houses. We want JPS and MPPP to close & grout the manhole promptly.

 

7. Damaged house owners firmly reserve all their rights to take all necessary legal steps against those responsible exclusion their liabilities.

Findings from Penang Forum 

Dr Kam, a scientist, focused on expansion of impermeable surface area (caused by ill­ planned development and replacing natural ground cover such as hills, fields and trees that act as a water ­absorbing sponge) and soil erosion and landslides (caused by cutting and development in hill areas) as two factors that need special attention.

She quoted Datuk Kam U Tee, the Penang Water Authority general manager (1973~­90), as having correctly explained the Penang floods of October 2008, as follows: the floods were caused by conversion of the Paya Terubong and Bayan Baru valleys into “concrete aprons that do not retain water. The water immediately flows into streams causing flash floods even with moderate rainfall. Because of hill­cutting activities, the flowing water causes erosion of the slopes which carries mud and silt into the river beds”. ( The Star, Oct 24, 2008).


See more  ....
 




Credits - Slides presented by Environmental, health and safety consultant Aziz Noor, and scientist Dr Kam Suan Pheng at the Penang Forum event on Oct 29, 2017

See more ....



Practise true CAT for Sustainable Development

  • Penang government must provide a COMPETENT flood mitigation plan for the state starting with a comprehensive Drainage Master Plan Study and not slogan.

  • The Penang government has to be ACCOUNTABLE to the people and not private developers. In other words, ‘Politicians should be ‘wakil rakyat’ and not ‘wakil pemaju’. If certain waterways and catchment areas have to be gazetted as permanent drainage and storage areas, then so be it. 

  • The safety and well-being of the Rakyat has to come first.  In the interest of  TRANSPARENCY, Penang has to launch an inquiry into how the local council approved property developments on slopes without adequate slope protection.

 See more ...

1. Wanted: Leaders who listen !
2. Sustainable Development in Penang
3. Call to reassess Penang hillside projects, councillor addresses full council meeting of MBPP
4. Penang landslide, whose faults?



Related:   


Include Penang Forum in panel probing Bukit Kukus landslide tragedy

 

   

At Penang landslide memorial, group questions silence of PH MPs

 

 

Consultant, contractor of Bukit Kukus paired road project slapped with ...


Risky building on hillslopes - Nation

 

Come together to save our state 

 

In Malaysia, an island drowns in its own development

 

Watch "Slope Stability" on YouTube


https://youtu.be/2wT2he6Numk

Penang MP rapped for asking for allocation while rejecting Budget ...

KUALA LUMPUR: A Penang Opposition lawmaker was rapped for voting ... Budget 2018 yet seeking an allocation for flood mitigation projects.

RM150mil for flood mitigation projects - The Star Online


A tempest flays the north

GEORGE TOWN: When the storm hit, everyone in the north prayed it would soon blow over.Penang flood: Precautionary power cuts in place as waters rise

Penang paralysed by floods - Nation



Irked residents to hold meeting with state representatives on Penang ...



https://youtu.be/n2vO-nsZxkY

'Bleeding' landslide worries residents - Nation

Damaged houses to be repaired - Metro News

Rep: Redevelop village to solve recurring erosion - Metro News

Residents prefer affected houses to be torn down manually

Bruised in sinkhole fall at home - Nation

Penang CM must stop blaming past govt for problems

Cracks in homes force seven Penang families to flee - Nation

Here's the proof — federal govt gave only RM443mil for flood mitigation

Former councillors claim Penang government abuse caused floods

PAS claims graft caused floods in Penang | Malaysia

Penang pays high price in storm havoc - Nation

Up to the chest in water, up to the neck with the excuses - Nation

Dept: Typhoon Doksuri caused erratic weather across Penang ...

Rapid development in Penang root cause of massive flash floods ...

Admit failure in solving floods and stop giving excuses, Penang govt told

Deluge brings chaos to northern states - Metro New

Penang floods: Body of missing woman found in Bukit Jambul river

Updated) Penang flash floods claim a life, second death due to floods ...

https://www.nst.com.my/.../updated-penang-flash-floods-claim-life-second-death-due-...
Sep 16, 2017 - ... Noor Afidah Yahunas, 30, who fell from her motorcycle into a culvert in ... by rescuers in a river near Bukit Jambul about 7.45am today, nearly 24 ... to lose balance and fall off, before she was swept away by strong currents.

Boast to end floods rings hollow - Nation

Anti-flood plan in pipeline - Metro News 

Chant: Set up unit to monitor hill projects - Nation

CAP: Halt projects in flood-prone areas until wet spell ends - Nation ...

Penang mayor Maimunah quits job to accept UN post

Hiking trail in awful condition - Metro News

Clogged drains main cause of floods - Metro News

 

  Narrow drains contribute to flooding

 The narrow drainage system which Chua claims results in flooding in the area.


 



Related posts:

Cracked drain causes road cave-in, house nearby on brink of callapse


MBPP, contractor, engineers and DOSH named as responsible in fatal Penang landslide

Kudos to Deputy Chief Minister I Datuk Ahmad Zakiyuddin for holding the four parties accountable for the Bukit Kukus landslide tragedy. The inquiry still begs a lot of questions, e.g. why was the contract given to Yuta Maju from Terengganu? Could the accident have been prevented if a proper EIA was done? It is not just a "bureaucratic hurdle" but supposed to identify risks and advise mitigation. If the authorities wish to go on with the project, it is not too late to commissi...
See more


 “This is no simple incident as nine deaths resulted from it. Very stern action must be taken against the MBPP, and that includes strong disciplinary action against the mayor and officers responsible.

“Otherwise, it will be business-as-usual in the MBPP as the officers will be allowed to go scot-free with impunity.




Come together to save our state - Letters | The Star Online

 


 

Landslide nation, Malaysia ranks highly for landslides


A drone picture of the collapsed beams along Jalan Tun Sardon leading to Balik Pulau on the left while Jalan Paya Terubong on the ri...
Consultant gets show-cause letter for ‘overlooking hilltop stream’ GEORGE TOWN: The consultant of the Bukit Kukus Paired Road project...

Action taken over irregularities at Bukit Kukus paired road project Penang

https://youtu.be/dMF95t2gXzg
Malaysia’s Penang Island has undergone massive development since the 1960s, a process that continues today with plans for transit and land-...

 

Huge landslide in Tg Bungah hill


Becoming bald: A view of the clearing work seen at Bukit Relau which was visible from the Penang Bridge in November last year. GEORGE..



 Fake Awards Scam for Penang Island City Council, Seberang Perai Municipal Council ! 
Home locked by Penang City Council over RM468 paltry arrears of assessment 

Penang floods and landslides, looking beyound natural causes! Seeking solutions: Penang Forum member and soil expert Dr Kam Suan Pheng giving her views during the dialogue session themed ‘Penang Fl..

https://youtu.be/ooyXvqmxbvw GEORGE TOWN: Some 20 houses located on a slope in Hong Seng Estate in Mount Erskine were flooded due


How to measure a politician?
Use technology to learn more about them before casting your vote Cheah taking a wefie with Tanjung Bungah assemblyman Teh Yee Cheu (be...

 Wanted: Leaders who listen !
Turning a blind eye: The grumblings over exposed hills are growing louder but little is being done to rectify the situation   G...


  With the GE imminent, politicians are already snarling at each other, hoping to score points early. I love dogs. I’ve always had o...



It’s hard to deny when the effects of climate change are all around us  Andrew Sheng says that from increasingly intense hurricanes t...


Why did MBPP approve the Tanjung Bungah development project? Read more at https://www.malaysiakini.com/letters/399357#qbRd534yu1JfC551....


https://youtu.be/kslhytLg-Wc Hills, landslides and floods: What to do?   The mega floods in Penang which followed the landslide...



Choong (in white) surveying the deforested hillslope next to Majestic Heights. PENANG MCA has raised concerns about the safety of the r...


Wet, wet woes: (Above) Bukit Jambul is flooded once again after an evening downpour. Firemen installing a pump to draw floodwater...


Council should not bow to development or political pressure, says city councilor, Khoo ‘Politicians should be ‘wakil rakyat’ and n...
(From left) Dr Kam will deliver a talk on ‘Understanding the Causes of Floods and Seeking Solutions. State assemblymen expressing inter...


https://youtu.be/4qaOB1n5tgA GEORGE TOWN: The Penang Island City Council has lodged a police report against the consultant of the aff...


Speaking out: Penang Forum members protesting outside the CAP office in George Town. Don’t just make it about worker safety issues ..


https://youtu.be/QB45Q2_mOG0 Suspicious activity: A photo taken from Penang social activist Anil Netto's blog showing an active s..



Some representatives of the 24 residents associations and management corporations showing messages urging the state to resolve the flood...


Our Environment is Our Life - YouTube THE year has barely started, and already we have so many reports of weather and climate-related e...
Sponge City: Solutions for China's Thirsty & Flooded cities  China's 'sponge city' projects may be worthwhile examp...

Getting titles right in the engineering field in Malaysia

  Getting titles right in the engineering field in Malaysia ..

RECENTLY, the Institution of Engineers Malaysia (IEM) received an enquiry on the usage of the title “Engr.” for members of the institution. The title “Ir” was first introduced by IEM in the early 1970s for both the graduate and corporate members of the Inst...Getting titles right in the engineering field in Malaysia rightwaystosuccess.blogspot.com

 2 structures collapse due to incompetent engineers and irresponsible officer of MPPP/MBPP

 

 Penang has acknowledged the Hills Clearing cases reported by Penang Forum

 

Penang Forum tells Chief Minister: the unmitigated disasters on hill projects 


Wall and awning collapsed in house near construction site







Penang Island City Council, MBPP councilor Dr Lim fed up change not happening in Penang

 

Penang Forum concerns over hill clearing and floods; the Declaration & Recommendation 

 

 Penang flood aftermath: design pump system needed to drain out water, fix funding snag ...


  Long and winding road: This satellite picture from Google Earth Pro shows five planned interchanges of the Teluk Bahang-Tanjung Bun...



Humans Are Destroying the Environment   PETALING JAYA: They are supposed to be guardians of the environment, and yet “certain enforcem...


LATELY, we have been seeing many photographs and a lot of video footage of handcuffed men and women in orange T-shirts bearing the wor...




IJM and Genting excluded from investments wealth fund due to severe environmental damage
Environmental issues: IJM and Genting have interests in palm oil operations. Norwegian fund to call off investments on environmental iss...


PETALING JAYA: Some RM40mil from the Skills Development Fund Corp is believed to have been siphoned off by those tasked with utilising it.



Taiwan developer detained over deadly quake building collapse ...

The developer of a building in Taiwan that partially collapsed during an earthquake has been detained for negligent manslaughter with prosecutors saying the man was not licensed to oversee construction projects. The lower floors of the 12-storey Yun Tsui residential building which also housed a restaurant and hotel pancaked when a 6.4-magnitude quake struck the tourist hotspot of Hualien on February 6. A total of 17 people died across the eastern coastal town, 14 of them in the...

Getting titles right in the engineering field in Malaysia