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New Books Releasing In February 2025

It’s the month of love, and what we love the most is books! Diving into new stories always brings us joy and this month the joy is doubled with exciting genres like short stories, graphic novels, autobiographies and psychology. We can’t wait for you to read them. 

Here are the books releasing this month: 

The Glory in Us All
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Written by Dr. Cassandra Aasmundsen-Fry, a Clinical Psychologist, this book explains through the stories of her clients how the knowledge and life we have buried are responsible for making us feel stuck in our relationships, careers and search for fulfilment. It talks about unearthing and embracing the difficult parts to reconnect with ourselves and with hope. 

A Fiery Flesh and Other Stories
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Written by Ismim Putera, this book features short stories that expose the flimsy nature of the human heart and the frailty of the human body in various ways. They’re gruesome, and surreal and will truly keep you hooked with every page.  

Enlightened Leadership
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Written by Tshering Tobgay, Bhutan’s esteemed Prime Minister and TED Talks sensation, this book will help you discover the transformative power of wisdom, courage, and compassion. It offers invaluable insights into leadership that combine ancient wisdom and modern best practices, blending timeless guidance from the past with today’s principles for effective governance. 

Be Real
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Written in poetic form by Felix Cheong and illustrated by Arif Rafhan, this book puts a finger on the zeitgeist of our times. Here is a graphic novel that talks about how we know what’s real in an age defined by curation; and how we even recognize ourselves when we reveal our ‘true’ selves.  

Seeking Home
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Written by Amanda Oon, this book tells us a story of family, race, identity, and self-discovery. But, above all, it is a cultural portrait of Singapore and Malaysia’s rich heritage and history. It’s an autobiography that will take you from London to Singapore and talk about the food, culture, and people that shape the identities of these two countries.  

Happy Reading!

New Books Releasing In January 2025

Happy New Year!  

We’re welcoming 2025 with a variety of new reads that are eager to find a spot in your TBR. From fantasy and self-help to short stories, memoirs and more – we have an interesting selection of books for you to delve into.  

Here are the books releasing this month: 

Seeds of Conquest||

Here is the third and final book in award-winner author Mica De Leon’s Seedmage Cycle series. The vengeful gods of Kayumalon are at war. The king is indisposed. Invaders have breached the northern borders. Kayumalon is ripe for the taking. Meet Kalem, Yin, Dakila and JinWun among others as you go on their final journey.  

The Anti-Procrastinator||

Unlike most productivity books, The Anti-Procrastinator is not a prescriptive roadmap to being more efficient in life. Instead, it will guide you to create your own manual to get things done through the power of self-awareness. By aligning your why with your values, your mission, and your action plan, you will minimize resistance and maximize results. 

The Secret Lives of OFWs||

From mananangals to aswangs, engkantos to mambabarangs, oryols to andudunongs, and even the great Bakunawa – The Secret Lives of OFWs follows eight different stories of Filipino migrant workers who happen to be supernaturals. Forced to embark on their own migratory sojourns to seek a better life and provide for their loved ones, these stories delve into the struggles faced by OFWs and their families, and how even feared creatures of Philippine folklore are not spared from the hardships of the diaspora. 

Juveniles & Other Stories||

Juveniles and Other Stories is a collection of seven short fictions translation in English from Thai under the theme of ‘youth’- a tattered, confusing period of trials-and-errors, and the last taste of refreshing bliss before the vast blue sky we see yonder would turn into a suffocating ceiling once we learn of our limits. While the stories are meant for adults, most of the protagonists are young children.  

Awakening The Advocate||

This book is a captivating sequel to Matthew S. Friedman’s previous memoir, ‘Where Were You: A Profile of Modern Slavery’. As you read his powerful stories, you’ll be reminded of the immense suffering in the world, but you’ll also be uplifted by the sheer strength and determination of those who fight against it. It will ignite your passion, challenge you, and encourage you to take action toward bringing about meaningful change. 

We’re sure you found your next read already! Follow us on Instagram to know more about these these books.  

 

Happy Reading, pals! 

 

 

New Books Releasing In December 2024

As we countdown to the end of 2024, there’s still time to hit your reading goals—and what better way to do it than with some exciting new releases! Whether you’re looking to complete your year-end reading challenge or get a head start on your 2025 goals, we’ve got five fresh and thought-provoking books to add to your list this month.

Here are the must-read books hitting the shelves this month:


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Step into the world of Fatimah Busu through this captivating collection of ten short stories. Spanning several decades—from the 1960s to the 1990s—this anthology blends social realism, magic realism, dreamscapes, and mythology. Fatimah’s evocative storytelling explores the complexities of women’s lives and the societies they navigate, offering a rich tapestry of themes for readers to explore. A must-read for fans of literary fiction with a unique cultural twist!

 

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In her debut novel, Suzanne Scott Tomita introduces a powerful narrative about class division, childhood friendships, and the eroding bonds that shape our lives. Until Even the Angels delves into the deep emotional landscapes of its characters, exploring how past relationships shape present realities. When successful London real estate agent, Isabelle Goh, is left close to death in an attempted assassination, Detective Ayesha Nur begins a case that not only brings her face to face with her own demons. What happened a half-century ago in post-colonial Singapore?

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In an era of constant change, Jerome Mangadap introduces a revolutionary framework for leadership with B.E.S.T. Marking. This book is more than just a guide—it’s a call to action for leaders to face the challenges of today’s world and come out on top. Packed with fresh insights and actionable tools, this book is essential for anyone looking to lead organizations toward success in a rapidly evolving landscape.

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Friska Wirya—a multiple award-winning author—dives deep into case studies from across Asia, offering a roadmap for how to adapt change management strategies to different cultural contexts. The Future Fit Asian Organization explores real-world challenges and provides insights on how to harmonize leadership practices with the diverse cultures of Asia. This book is perfect for business leaders and managers seeking to enhance their organizational strategies across the region.

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In the age of digital transformation, Phanish Puranam’s Re-Humanize presents a compelling vision for balancing organizational goals with human-centric values. This book explores how companies can embrace technology while fostering community, connection, and purpose. A must-read for leaders looking to build organizations that are both goal-driven and people-first.

 

Which book will you dive into first?

With so many exciting new releases, there’s no shortage of inspiration for your next great read. Whether you’re closing out the year or gearing up for 2025, these books will spark your imagination and broaden your horizons.

Stay tuned to our Instagram page for updates on release dates and more exciting book recommendations!

Happy reading, pals!

Read an exclusive excerpt from The Gumption of Mr Toilet

Imagine a world without toilets! 

Sounds crazy, right? Yet, billions of people still don’t have access to safe sanitation. On World Toilet Day, we’re not just celebrating toilets—we’re fighting for dignity, health, and equal rights for everyone. And behind this global movement is a man who’s literally changed the world with his vision: Jack Sim, aka Mr. Toilet. 

From a poor kid who failed at school to a global game-changer, Jack Sim used one simple thing, gumption, to spark a revolution. Check out this powerful excerpt from his book, The Gumption of Mr Toilet where he breaks down exactly how he made toilets—and a whole lot more—matter.

 


Since the founding of the UN on 24 October 1945, the first UN Water Conference was held in 1977, and the second one was in 2023. It’s appalling to see an important agenda such as Water be made a low priority. But if you think Water has been neglected, you should know that Sanitation is even more neglected. That 2023 UN Water Conference devoted only about 5 per cent of the sessions to Sanitation and Hygiene and less than 1 per cent to Menstrual Health, which is a big taboo as well. We live in a world where agendas are addressed according to their charisma. Corporations love green and blue agendas like Environment, where they can use trees, rivers, coral reefs, pandas, and polar bears in their publicity material. They avoid ‘Brown Agendas’ like Poop, Diarrhoea, Polluted Rivers, which are equally important.

Therefore, in order to succeed, we have to make sanitation sexy, and we have a secret weapon. Since it is a taboo and has been unspoken for such a long time, it has news potential. We created new narratives that helped the media attract massive readerships and advertising income, and the global media took our stories by storm. As we take charge of the narratives, we command the attention of the world.

The World Toilet Organization was founded on 19 November 2001. Our founding day has since been adopted unanimously by all 193 countries of the UN General Assembly as the official UN World Toilet Day. We broke the taboo on the Sanitation Agenda. In 2010, the blockbuster film Harry Potter and the Deathly Hallows was launched globally and was trending at the fourth position on Twitter (now called X) on 19 November, while World Toilet Day ranked fifth. But Harry Potter invested multimillion dollars in publicity while we did it at zero cost. We saw Justin Bieber was trending at the sixth position and catching up with us. So, we tweeted that ‘Justin Bieber is doing worse than Shit’. This single tweet sparked a furore of attacks by Justin Bieber’s fans, and it boosted our visibility causing us to trend even higher. Suddenly, a lot more people learned about the existence of World Toilet Day.

This is how guerrilla marketing works. We leverage anything and everything, making the irrelevant become relevant to our mission. There is no such thing as bad publicity with an agenda like Sanitation, which is a taboo itself.

I created the World Toilet Organization with the WTO acronym to play a pun on the World Trade Organization. I was hoping that the WTO would sue me, then I’d be famous. It turns out that they didn’t sue me, but we became known as the other WTO forever. Nothing sells like contraband. Either way, I won. Eventually, the journalists started calling me Mr Toilet and that moniker created another intellectual property for us with highly sticky brand equity. The most elegant thing is we achieved all this without paying a cent for media publicity and have never paid marketing dollar in the last twenty-four years. When you have no money, work around it.

The Gandhians said: ‘First they ignore you, then they laugh at you, then they fight you, then you win.’

Ten years later, I met Pascal Lamy, the Director-General of the World Trade Organization at the World Economic Forum in 2011 in Jakarta. I introduced myself and he exclaimed with some jest: ‘Oh, I know you. Yours is the more important WTO!’

_________________________________________________________________

From toilets to global sanitation, Jack’s journey is a testament to the power of vision, grit, and gumption—that unstoppable drive to turn an idea into reality.  On World Toilet Day, let’s remember that every small action counts. 

P.S. You can win a copy of the book and a special tote bag. Head to our Instagram now. 

 

Read an exclusive excerpt from Saving the Planet

Saving the Planet is a must-read for anyone seeking to understand the intersections between politics and climate change, as well as for an authentic voice at the frontlines of climate action in the Global South. Read an expert from the chapter Livable Cities below.  

*** 

San Francisco has contributed much to music. Metallica, Santana, and the Grateful Dead are just a few of the bands that are from or were based in the city. In fact, journalist Herb Caen called the city ‘Baghdad by the Bay’ due to its diversity and cultural significance. But when talking about the birdsongs there, a curious observation was made. Since 1969, the songs of the white-crowned sparrows in San Francisco have been recorded for study. Similar to human beings, birds have ‘dialects’—there is a geographical variation in birdsongs, and they evolve over time. How fast or slowly this happens depends on various factors. The frequency of the songs has increased over time, possibly adapting to the city’s increased noise pollution. While dialects in the city’s bushy countryside disappeared, the dialect that developed in the city not only survived but became dominant, replacing the disappearing dialects of the countryside. 

Throughout history, the impact of cities on humans has been clear. We are only now, however, realizing the impact of cities on animals, plants, and the environment. While climate change caused by carbon emissions is a relatively recent phenomenon, air pollution is a problem that predates the Industrial Revolution. Workshops and furnaces produced dirty and unhealthy air. The Greek physician, Hippocrates, advised travelling physicians to look at the cleanliness of a city’s air and water. The use of fire from biomass for cooking, heating, and protection against mosquitoes led to lung diseases, which was recorded by various Roman scholars from over 2,000 years ago, as early as the dawn of the Common Era. At the same time, cases were heard in Roman courts about disputes over air pollution. 

About a thousand years after the birth of Hippocrates, Prophet Muhammad was born in Mecca. At that time, the city was thriving with trade, attracting merchants from across Arabia and the Levant. Mecca was also already a city of pilgrimage, sustained by the Zamzam well. Yet, the infant Prophet was sent to the desert to be cared for by Halimah, a wet nurse. This was an Arab custom at that time to not only allow the young to learn the classical Arab tongue of the Bedouins but also enjoy the cleaner desert air outside the city. 

*** 

Saving the Planet relates author Nik Nazmi’s experiences as NRECC Minister [later redesignated as the Ministry of Natural Resources and Environmental Sustainability (NRES)] and his thoughts on connected issues ranging from water management to climate financing. Get your copy to read his fascinating insights.  

 

Read an exclusive excerpt from Sarah Silvestre’s Travel Blog

Sarah goes on a quest for seven waterfalls all over Philippines- from Tanay, Rizal all the way to Lake Sebu, South Cotabato. She documents her adventure in her journal which she then turns into a travel blog called Sarah, the Seeker. 

We are sharing exclusive snippets from her blog updates.  

*** 

Captivating Kawasan Falls, Cebu  

Amid the verdant canopies of Cebu, where the sun plays hide and seek with the leaves, lies a spectacle of nature’s artistry—Kawasan Falls. The journey to its basin is as much a part of the experience as the destination itself, with each step through the winding paths and each breath of the moist, earthy air heightening the sense of anticipation. 

As I followed the trail, I could hear the distant sound of rushing water filling me with excitement. The sound grew to a crescendo, from a quiet murmur to a powerful roar, a clear call that I was nearing the heart of the falls. The air grew cooler, the mist more pronounced, and then, suddenly, the canopy parted to reveal the majestic cascade of Kawasan Falls.  

The water was an astonishing shade of blue, reminiscent of a gemstone freshly unearthed. It cascaded down rocky tiers, each layer a different note in the harmonic masterpiece of the landscape. Each drop that hit the water’s surface sent ripples that danced in the sunlight like liquid crystals.  

The main pool is a natural amphitheatre, with water crashing down into it from the cliffs above, sending up plumes of spray that catch the light like diamonds against a sunbeam. To stand in the basin of Kawasan Falls is to stand in the midst of a perpetual rainbow. The spray creates a fine mist that surrounds you, and as the sunlight filters through, the colours of the spectrum come alive.  

I dipped my toe in, and the chill of the water sent a tingling sensation up my spine. The atmosphere was tranquil, only punctuated by the music of nature—the rustling leaves, chirping birds, and the constant hum of the waterfall. The latter is all-encompassing, a sound that reverberates through your body and insists on a moment of reverence.  

Even the air had a unique character. It was thick with moisture but also refreshingly cool. Each breath I took felt cleansing, like inhaling the essence of the Earth itself. 

The water was so inviting, cool, and refreshing against the skin, a welcome respite from the heat. Swimming in the pool beneath the falls, you’re at the mercy of the current, pulled into the rhythm of the water. It was a powerful reminder of nature’s gentle strength and untamed beauty.  

As I left Kawasan Falls, the sensation of water droplets on my skin evaporated, but the imprint of the experience stayed with me. It was a reminder that sometimes the most beautiful places on earth require a journey, physical and spiritual, to truly understand their magnificence.  

And, of course, let’s not forget the local flavours. I thoroughly enjoyed my little picnic of lechon, pusô, and Coke. The lechon itself will be the topic of a totally different blog on its own. After that, sipping fresh coconut juice from a husk, the nutty sweetness perfectly complemented the sensory spectacle of Kawasan Falls. 

So, why I did I go to Kawasan Falls in the first place? It’s all thanks to @MaverickMarley [Check out her awesome blog here]. A month ago, I would never have dreamed of setting foot in these falls. My baby brother introduced me to Marley, hoping to cheer me up after a couple of setbacks (in life and in love). At first, I thought I just wanted to get moving, get fit. But it became more than that. After I visited Batlag Falls in Rizal and successfully completed my first river trail ride with her to Kinabuan Falls (also in Rizal), I was obsessed. There’s just nothing like the exhilaration of finding a waterfall. It’s never an easy hike. You have to go down a trail and go up again. But it doesn’t matter. Just being in a waterfall basin is the best feeling in the world.  

After Batlag and Kinabuan, I asked myself, ‘What if I visited five more waterfalls?’ Everyone said I was crazy. 

But here I am. 

I hope you, dear readers, can one day experience this wonder for yourselves. Until then, let’s keep seeking the extraordinary in the ordinary world.  

Happy travels,  

Sarah, the Seeker 

*** 

Read more about her adventure in Steady Sarah. Available online and at bookstores.  

 

 

New Reads for November

As 2024 wraps up, it’s the perfect moment to grab some fresh reads and crush those reading goals. This month, we’ve got an awesome lineup that spans genres and vibes—perfect for cozy nights in or whenever you need a good escape.

Whether you’re looking for self-help that actually gets you, thrilling mysteries that keep you guessing, or stories that spark deep thoughts about the world, we’ve got you covered.

Here are the books releasing this month:

 

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Written and designed by Puty Puar, Self-Improved Me offers a toolkit that doesn’t promise a one-size-fits-all method. It’s about the discovery process itself. With bite-sized writings and illustrations, it aims to help get us to know ourselves better and appreciate our unique way of progressing in life.

 

Buy here||

Written by an award-winning writer Suzanne Kamata, River of Dolls and Other Stories is a collection of short stories, many of which riff on traditional Japanese folk tales and lore and explore the lives of individuals caught between desire and duty, as well as the conflicting expectations of different cultures.

 

Buy here||

Written by Nik Nazmi Nik Ahmad, Saving the Planet is a must-read for anyone seeking to understand the intersections between politics and climate change, as well as for an authentic voice at the frontlines of climate action in the Global South. 

 

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Written by Kantarin Leelahuta, One Night Stand is a thrilling mystery featuring three famous girls who have it all – the looks, the fame, and the boys. The lives of these inseparable friends change as one of them dies, but, who killed her and why?  

Buy here||

Written by Larry Nyanti, A Rei of Sunshine is a coming-of-age tale that weaves together the threads of two former lovers separated by circumstance over many years. However, when their paths meets again, things only get more complicated with a twist of supernatural elements.  

Buy here||

Written by Edmund Terence Gomez, Misgovernance unveils covert and deeply disturbing political-economic trends in Malaysia, necessitating an urgent re-think of the meaning of ‘corruption’. Three major paradoxes emerge from this book’s insights into the inner workings of Malaysia’s monstrously vast GLC ecosystem. 

Buy here||

Written by Earl Valencia and Dan Gonzales, Startup Mindset unveils the secrets of the Silicon Valley ecosystem and guides readers on the mindsets that differentiate the leaders who were trained from the industrial economy of the past from those who have grown and transcended into a digital-first world. 

 

Found a book that instantly spoke to you? Keep an eye out on our Social Media pages to know when they come out.  

Happy reading!  

 

 

 

Books that will haunt your dreams if you skip reading them!

Gather ’round the flickering candlelight as we dive into tales of mystery, suspense, and the supernatural. From haunted houses to mischievous spirits, each story invites you to explore the eerie and the extraordinary. So, don your favorite costume, grab a warm mug of cider, and prepare to be spellbound—these pages are alive with the spirit of Halloween!

 

🎃🎃🎃

Ascension||

First, you need to give it something precious to you. Then, a shelter, a doorway… Something lives in a rotting house in the town of Santa Clara. Emilia returns to her hometown to attend her friend’s wake. But she finds her way back to Santa Clara, to her circle of friends who rekindle memories of a bizarre ritual left unfinished.

Little Lovely Lily||

Dark romance of your dreams is here. This is not a ghost story. This is a love story. The ghost lore has it, Heartbreaker spellbinds girls into becoming his eternal lovers in afterworld. But, he falls for Lily, like it’s breathing for him. Will their love triumph in blurring the boundary of reality and fantasy? Or will the grip of logic force them to part?

The Hantu House||

Real estate agent Eric Foo is tricked into spending a night in a haunted house he’s trying to sell. Will he become the next victim in the sinister narrative of the haunted house? He discovers an eerie ability—he can sense ghosts. Finding himself drawn into a murder mystery and a web of supernatural intrigue, Eric races against time to uncover the truth behind a series of untimely deaths.

Horror,He Wrote||

A murder mystery meets horror fantasy, this compelling tale of love and redemption will send a chill down your spine with every twist and turn. A writer gets the help of a ghostwriter to write his book, only in his case and actual ghost who has a story to tell the world.

The Power Above Us All||

A novel of ordinary decent criminals and extraordinarily brutal cops weaving together and colliding inside the giant slum of ‘Dreamland’, within the megalopolis of Metro Manila, Philippines. A crime thriller with ordinary decent criminals and extraordinarily brutal cops weaving together and colliding inside the giant slum of this, ‘Dreamland’. 

A Stitch in Time||

Clare is alone in her school’s tunnel walkway when a famous teenage stage actor strides into sight – and promptly disappears! Caught in an avalanche of supernatural incidents, she soon discovers that the actor, Gavin Lai, has become invisible. A magical tale of mystery and self-discovery, set in the 90s where ghosts of the past intertwine with the present. But, only Clare can see this handsome ghost!

Infinite Lives Infinite Deaths||

A collection of stories that straddle genres such as horror, magic realism, metafiction, and science fiction, while stitching together elements from world mythology and folklore, Philippine history and society, and the Chinese-Filipino experience in a nightmarish version of Manila.

Mouths to Speak Voices to Sing||

A collection of unpredictable stories of various genres–fantasy, sci-fi, horror, crime, and the supernatural, alternating between the everyday and the extraordinary. Singing Chinese antiquities. Ghosts that only one young man could sense. A house with a sentient A.I. that becomes a part of the family. A cricket that acts as a tragic voice of reason. A man born and bred for neural mass surveillance.

Diary of a Rich The Ghost of Mount Hantu||

Once you enter Mount Hantu, you may never leave … A summer camp at Mount Hantu turns
deadly when a vengeful ghost from a warring past haunts the campers. Before long, terrifying things begin to unravel. From a brush with death to the disappearance of a fellow camper, Mount Hantu seems more forbidding than ever. Robin must unravel the dark secret before it’s too late.

🎃🎃🎃

Found anything interesting? Get your copies today and keep a tab on our Instagram page for more spooky vibes this Halloween.

New Books releasing in October 2024 🍁

It’s the perfect time to fall in love with books all over again, as October ushers in a season of cozy evenings and colourful leaves. From fascinating non-fiction books to a very unique fictional story – you will be inspired, motivated and moved all at once when you look at this list. So grab your pumpkin spice latte and settle in—October’s literary harvest is here to delight.

                                                                                              🍁🍁🍁

 

How We Came To Be||

Written by Andrea Dee, How We Came To Be is a very different story about relationships. It follows two people in college who accidentally meet again after being sort-of-strangers in high school and fall into an unlikely yet shockingly easy friendship. The story explores themes of aromantic-asexuality and takes you on a journey of their bond.  

Rewrite The Rules||

Written by Ritu G Mehrish and Rajita Saxena, Rewrite the Rules is a book that empowers Asian women leaders to challenge the status quo and redefine success on their own terms. It is a call to action that invites you to embrace your power, break free from limiting beliefs, and forge your own path to success. The book also features diverse experiences of over 200 women leaders across Asia, and focuses on the five core areas essential for thriving as a female leader. 

The Female Digital Revolution||

Written by Nimisha Tailor, The Female Digital Revolution provides a unique insight into the changing role of women in the digital economy which is growing at an unprecedented rate. Through a collection of powerful real-life stories and research, the book brings to life current and future digital changes that are reshaping the role of women. 

The Balikbayan Artist||

Written by Eileen R. Tabios, The Balikbayan Artist is inspired by and dedicated to Venancio C. Igarta (1912–2000), the real-life leading artist of the Manong Generation. It will take readers from the early twentieth century to the present day when Vance Igorta’s art is being discovered anew. This is the captivating story of Vance, a farm-laborer-turned-artist who returned to the Philippines as a balikbayan after nearly fifty years in the United States. 

Fearless||

Written by Sylvia Yu Friedman as a memoir, Fearless is an anthology of experiences drawn from philanthropy, journalism, and cross-cultural workplaces which offers a wellspring of hope and insights on identity, overcoming heartbreak and toxic environments, finding love, and conquering self-doubt. It’s Sylvia’s letter to her younger self, a rallying call to laugh unabashedly and harness the power of love.     

🍁🍁🍁

 

Did you instantly connect to these stories? Stay tuned on our Instagram page to know when they come out. Happy fall reading!  

 

 

 

Read an exclusive excerpt from The Siege Within

The Siege Within is the untold story behind the political crime that continues to make world headlines, and why a nation so full of promise has been brought to its knees. Read an exclusive excerpt from the book below. 

*** 

Two elements are critical in a bond swindle.  

The first is securing the right coupon and the YTM rate.  

In mid-April 2009, Jonathan Manifold, the head of risk management at AmBank, emailed the bank’s top management overseeing the planned TIA scheme to say he estimated the fair market YTM for the TIA bond issues at 4.72 per cent, based on the 4.72 per cent yield US Treasuries were fetching at the time, and by assigning a so-called 25 basis points spread. This would have roughly been the rate for any typical bond issue guaranteed by the Malaysian government.  

But the TIA bond was a lot more. It was an elaborate exercise in fraud to siphon money and to use it to create a political slush fund for Najib. The rate Manifold had recommended would have been devastating for Project Tiara.  

This was a huge problem. A higher coupon would be crucially beneficial for the plan to succeed. Never mind that the Malaysian taxpayer would have to pay a high annual rate of interest for the thirty-year bond. The overriding objective was to create conditions that would provide all the latitude for the schemers to structure the deal in ways that would allow them to squeeze money up front.  

Manifold’s all-important email on the recommended rate for the TIA bonds quickly disappeared into the ether. AmBank’s Teng and Chan began arguing that the TIA bond proposal was far from being a typical government-backed bond issue.  

Further, Teng and Chan had personally lined up four foreign parties that had expressed a keen interest in underwriting the bonds. The only notable name in the list was the BNP Paribas chapter based out of Singapore. The other three were:  

  • Thailand-based Adkinson Securities, a listed financial outfit that was later renamed Country Group Securities, and which was controlled by the Taechaubol family; 
  • Little known Shikumen Capital Management Ltd, which was incorporated in the Cayman Islands and had operations in Hong Kong; and 
  • Aktis Capital Singapore, a financial advisory and fund management outfit headed by banker Cheah Teik Seng, who worked in the Malaysian Finance Ministry and was known to be close to Nor Mohamed. 

Now, the second element for the swindle would kick in— the mode of issue for the bonds. Depending on the nature of the bonds issues and arrangers, financial advisors would suggest one of three routes—a Private Placement, a Book Building exercise, or a Bought Deal. A Private Placement by a little-known company known as TIA was likely to face some hurdles. The most obvious track would be Book Building, simply because the bonds would be in keen demand to investors as the papers carried a government guarantee. All AmBank had to do was to underwrite the amount that investors would not have taken up. But there was no money to be made in these two approaches. Low and his team of schemers then decided to cherry-pick elements from all three modes of issue to create a financial structure that would enable them to extract as much as possible from the bond issue upfront.  

Project Tiara would apply a Bought Deal, which is usually utilized for cases involving high-yield papers, where the issuer’s credit standing is weak and a higher coupon is required to attract investors. 

***

This is Malaysian journalist Leslie Lopez’s first book, and it delves into the writer’s own archives of previously unpublished material to go back in time and show exactly how it was possible for a Malaysian prime minister to envisage his treacherous crime, and then to execute the dastardly deed. Get your copy now.