Monday, October 1, 2012

"Premesh Chandran Dissection Is No P T Barnum Circus" - An Update

In my previous post, a commenter said and asked "No comment FCFG, you said it all (or is it almost all?).

Indeed, I had left out on Premesh Chandran's rebuttal of "accusations" levelled against Malaysiakini.

It was #6. Malaysiakini is controlled by outside forces

The issue is about Malaysiakini's sources of funds in relation to or influence for it's anti-government proclivity.

Premesh specifically mentions the mainsteam broadcast and print media with a pic of Utusan headline "Soros link".

But what about the alternative media?

It is in the alternative media that all the accusations and allegations have emanated from, with on-line source material to validate these precepts, against Malaysiakini.

I wrote about Malaysiakini's Soros taboo and asked why is that so.

If Premesh (and Steven Gan) are truly and genuinely informed responsible jounalists, they would at the very least considered but most certainly been aware of numerous material available, in the alternative media, exposing the destructive means and methods in the person of George Soros to achieve his objectives.

And Malaysiakini IS an alternative medium. One which relies on subscription fees to remain financially independent, according to Premesh.

So they know that any link to George Soros would be detrimental to their credibility, impartiality and aspersions would be cast.

I have said that there are no DIRECT links between Media Development Loan Fund, a substantial shareholder of mkini dotcom sdn bhd, and George Soros.

That said, make a serious search of MDLF founders Sasa Vucinic and Stuart Auerbach and their Open Society Institute, OSI, George Soros connections.

Premesh cannot hide his admiration for George Soros and I had included two links to take the shine off his accolades. Here is Premesh again "When the pound collapsed in 1992, Malaysia was left with a major hole in the Treasury, and Soros made a name for himself for breaking the Bank of England."

The title is also self explanatory, "You Lose, Soros Wins" by Richard W. Rahn senior fellow in foreign policy studies at the Cato Institute and chairman of the Institute for Global Economic Growth. What it says, asks and answers -
Mr. Soros, the Democrats' financial angel, is often referred to as the "man who broke the bank of England" in the 1992 Sterling crisis. During that episode, he made $1 billion in one day at the expense of British taxpayers. The relevant question is, did Mr. Soros bet a couple of billion dollars on mere guesses of what the German, French and British officials would do, or did he have inside information?

Mr. Soros has a reputation for trading on confidential information obtained from political sources. For instance, he was convicted by a French court of having insider knowledge about a takeover attempt of a major French bank. His conviction was upheld in 2006, and he had to pay a multimillion-dollar fine
(Cato Institute at Wikipedia)

I repeat, MDLF has no direct links to George Soros but that does not mean we cannot question MDLF itself.

MDLF board representation is explained by Premesh thus, "To date, MDLF is involved in 269 projects for 85 independent media companies in 27 countries. Not only does MDLF have a right to be on Malaysiakini’s board given its stake in the company, it is hardly business sense for us to pass on the opportunity to have such distinguished individuals to serve on our board."

Premesh also bemoans the fact, "Up to this date, unfortunately, they and other shareholders have not received any dividends but we hope their investments have been worthwhile."

Which I missed highlighting in my earlier post.

It has been 10 years since MDLF has had any return to it's investment in 2002 and yet has the "advice and guidance from MDLF and their current CEO, Harlan Mandel, have been a tremendous boost to Malaysiakini’s business strategy" sitting on the mkini dotcom sdn bhd board.

The current CEO of MDLF no less.

MDLF publishes it's achievement -
In 2011, MDLF clients made a total of $98.8 million in sales. From 2010 to 2011, individual client sales grew by an average of 6.2%. After 1 year of working with MDLF, client sales increased by an average of 61%, and after 5 years by 377%.

For 30 media companies that have worked with MDLF for five years or more, there was an average cumulative growth in sales of 376.7% after five years. Even when removing two high-growth outliers from the data*, MDLF clients still experienced growth of 133.9%.

*A newspaper company in Russia and a Malaysian news website
(At MDLF link click 2012 for full MDLF Impact Dashboard)

But mkini dotcom sdn bhd returns does not support such data when it was reported for the year ended Dec 31, 2011, Mkini recorded a drop in revenue from RM1.85mil in 2010 to RM1.63mil last year and has not declared any dividends for the past 10 years in it's association with MDLF.

Which therefore begets a pertinent question - What has MDLF doing in mkini dotcom sdn bhd the past 10 years and their role, now, with their CEO on board as director?

Only MDLF and not mkini dotcom sdn bhd can answer that.

I have my answers.

I hope readers would seek further to find their own answers.

Finally, I also wrote - "His (Premesh Chandran) dissection can easily dupe gullible Pakatan Rakyat supporters and his paying followers but unlike Anwar Ibrahim, who is only good at scripted events, Premesh'es prepared script is confounding, for want of an appropriate word".

The proof of the pie is in the eating.

Premesh proudly proclaimed -
"Over 13 years, hundreds have worked on our editorial floor. If asked, I believe they will tell a tale of hard work and long hours, but never a tale of stories being spiked, censored or twisted to suite external powers, something so prevalent in the newsrooms of politically-owned media

Stupid is as stupid does Premesh Chandran freely admits by a derogatory description of his "editorial floor" to justify a positive connotation.

Can anyone trust a Malaysiakini "editorial floor", which Premesh by his own admission believes, is prone to tales? Tales - as in deliberate lies and other negative definitions?


Unknown said...

So what's your point? That George Soros was too smart for the idiots in the Malaysian Government.

You can only be made an ass if you allow it.

Unknown said...

So What's your point? That George Soros was too smart for the idiots in the Malaysian Government?

You can only be cheated if you are allowed to.