Has anyone noticed of late of suspiciously generous handouts from government-linked public- listed companies? Record dividends from Proton, creation of second-tier petrol related firms, proposal to list existing Felda plantations. The list goes on and I personally view such activities with great trepidation.

The common link in these handouts is the hand of PNB and that of Umno-linked corporate executives. Seems to me these acts of generosity is no more than another bout of handouts, creating a slush fund of sorts or divvying up the pile just in case Umno losses its stronghold within the coalition.

While the overall trend in the KLSE remains neutral with many a company treading cautiously, this is not so among certain well-connected firms. How else does one equate the recent run up in companies such as Crest Petroleum, Scomi, Petra Perdana and the likes?

Investors lucky enough to buy into these listings would undoubtably attribute the windfall to sheer good luck. However my suspicious mind seems to think otherwise since Umno is a cesspool of corrupt practices, and hence friends and cronies alike are quietly reaping in these handouts.

I quote an example in the recent RM3.6 billion corporate restructuring exercise between Golden Hope and Island & Peninsular (I&P). Upon the said restructuring, I&P reincarnates into the biggest developer with its land bank increasing nine folds. Coupled that with a capital distribution whereby I&P will return all Golden Hope shares its receives from the sale of its plantation interest to its shareholders. Now that is what I call a handout through and through.

If only the Securities Commission would cast a more discerning eye and peer through trading activities of all these firms, it would find insider information being traded high up amongst the Tan Sris and Datins.

If my hypothesis holds through, the general elections would only be called once Umno has finished safeguarding and stripping off assets to be distributed. And why not, since it is highly plausible that the states of Kedah and Pahang seems ripe for a takeover by PAS. Umno today is a liability within the ruling coalition, which is being held up by other component parties. The component parties toil an honest day's work while those in Umno continue to pilferage and plunder.