Moiz had reiterated a number of times before that should his company's proposal be accepted by the Singapore authorities, more than 90% of the investors would accept the offer.Īnd true to what he had said, Effective Capital's irrevocable request and authority (IRA) proposal for a staggered release of the Clob shares were 93%, or 160,313 accepted from a total of 172,000 investors at the closing date of the offer on March 31. In Malaysia, Effective Capital's advisors include issuing house MIDFCCS Sdn Bhd, Amanah Merchant Bank Bhd, PriceWaterhouseCoopers and KM Chye and Partners. 'In Singapore we appointed Khattar, Wong and Partners because they are very familiar with the Singapore laws and it is our prime intention to protect the Clob investors,' said Moiz.

'We also appointed top of the line advisers because this is a very serious thing, and we wanted people to have confidence in what we were doing.

We sought their views and also from stockbrokers, bankers, lawyers and other related parties about the matter,' he said. 'Then we had discussions with the authorities on both sides of the country. He said Effective Capital started the groundwork early last year. While both are known through their involvement in high fashion, their main business is in investment holding through Tradium Corp.) (Akbar is a chartered accountant while Moiz has a financial background.

'Both Akbar and I initiated the plan after reading about the numerous calls made by the Malaysian government for a private sector solution on the Clob issue,' he said. He is also very much accepted in the Malaysian elite circle through his business involvement,' said an observer.īut Moiz, while agreeing to some of the points mentioned, pointed to the fact that connections alone cannot guarantee a successful implementation of his proposal. 'Moiz understands the Singaporean culture and mentality very well, having spent his growing up years there. The Singapore media especially, continued to speculate about his uncle, Akbar Khan's connections with Finance Minister Tun Daim Zainuddin.īut Moiz, who did his 'A' levels in Singapore before pursuing his studies in the US, appeared to be the best negotiator for the impasse. He had to ward off unjust remarks about his so-called connections, and to guard his 'ideas' from other preying contenders. It had been a demanding time for him, commuting back and forth between Kuala Lumpur and Singapore-his company, Effective Capital Sdn Bhd had been the first to come up, in April last year, with a private sector solution to help resolve the Clob issue.įrom then on, the going was tough for Moiz and his company, between the time spent as the intermediator (the Singapore authorities and the Clob investors specified certain terms while the Malaysian authorities have also put certain conditions for the resolution of the impasse). 'There are so many broken bones in my body I have lost count,' Moiz told Star Business over a glass of ice blended coffee. THE way Datuk Mohamad Moiz pursued his ambitious plan to resolve the Central Limit Order Book (Clob) impasse can be likened to his action in a polo game-strategy, timing and a forceful execution. Strategy and timing for effectiveness By Hasni Mohd Nasir

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