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Sakmongkol ak 47

ariff.sabri@gmail.com

Thursday, 28 October 2010

The cost of Malay Pride


 
I wrote a short article on the proposed 100 storey tower. It drew more than 40 comments thus far. Some of the comments I didn't put up. One comment that represents the comments  that I rejected, said that I wrote this article out of vengeful sentiments.
I am happy to say, that's not true. Vengeance alone cannot explain the consistency with which I criticize the issues that I do battle with. The language of a vengeful person is spiteful. Vengeful writers can't offer reasoned arguments.
The proposed construction of a 100 storey building on account of it being a symbol of Malay prominence is one built on a gravely mistaken notion. I stand by this statement. Because I think the construction of that kind of building borders on ridiculousness. It's built using money PNB makes capitalizing on funds meant and intended for Bumiputeras. It isn't built of government money is true, but still it's made on money earned by PNB on the funds it gets from the government to buy stocks on behalf of Malays. In that process it makes money.
Take the argument a step further. We built the PETRONAS twin towers at a cost of RM 1.3 billion. Ananda made a killing selling the land to PETRONAS at that time. Now, who owns the land on which this WARISAN MERDEKA tower is coming up? Somebody is making a killing there. It can't be cheaper than the KLCC land feet for feet.
Meanwhile, the rental of space at the food court goes at RM 130 per square foot. At the rate, not many Malays can afford to open up a food stalls.
A building that costs almost 5 times that cannot charge less than RM 130 psf for space as food court. We can't even speak yet of retail space for upscale items. The tower may be built by PNB but it shall never be occupied by Bumiputera operators.
The construction is shrouded in mystery too. We ask the government to secure the minutes that deliberated on the construction of the tower. We ask also for the publication of feasibility studies on the project.
I have proposed the construction of 5 units of 20 story tower. Maybe at a ceiling cost of RM 300 million each. Even at RM 500 million, 5 blocks will cost PNB only 2.5 billion. We can still save money there. Plus, we can have a spatial flexibility. We can place the 5 towers at various areas thereby acting as catalysts for further development.
I have also mentioned of rumors from the corporate world that 2 more of such towers are in the offing. One will be proposed by Jho Low and the other by the Naza group. The point here is, the WARISAN MEDEKA tower will serve as benchmark; future 100 storey towers can't be less that RM 5 billion. Imagine the margin the developers make, if the actual cost of any of the towers is less than RM 2 billion.

53 comments:

hishamh 28 October 2010 at 12:53  

Dato' Sak,

Some clarification:

1. From my information, the actual cost of the tower itself will be in the region of RM2 billion. The additional sums are for upgrading of infra (RM0.5b) and residential and retail development between 2015-2020 (RM2.5b).

2. PNB already owns the land for the site of the project. It was purchased for RM310 million in 2000 from Danaharta.

3. Apart from the initial grant of RM200 million given in 1978, PNB has not received any funds from the government.

Anonymous,  28 October 2010 at 12:59  

Well said Dato'

It's the same story over and over again. It was Perda in Penang, UDA in KL and now PNB on this menara warisan crap. 'Anak Kecil Main Api', my a**

Anonymous,  28 October 2010 at 13:08  

>>3. Apart from the initial grant of >>RM200 million given in 1978, PNB >>has not received any funds from >>the government.

how about share and land that allocated to PNB below market price?
Isn't that some sort of funding.
Or projects that given to PNB in preference terms.

Anonymous,  28 October 2010 at 13:31  

Hishamh,

We need more people like you to clarify some of the absurd assumptions made by people like sak who will always go against Najib. To them whatever UMNO does is never right. They are what you shall call arm chair critics who only criticize whatever the government does. As a person like Sak who when he was the ADUN could not do much and was not nominated again. Thats what we call a ' has been' who could not cut it as a politician and now can only do what he is best at that is to condemn the government!

Godfather

Anonymous,  28 October 2010 at 14:23  

Malay pride?
1. Gimme, gimme, gimme 30%.
2. Global Malay but no speak Inglish.
3. House mahu discount.
4. Low grade mahu masuk universiti.
5. Hanya mampu kerja sebagai kaki-tangan kerajaan.
6. Bodoh pun dapat kontrak dan sub kepada Cina.

What pride?

Anonymous,  28 October 2010 at 14:32  

Interested parties will employ 'pelacur' witers

to fight for their cause.

The list of beneficiaries in the warisan project would include-

project managers

steel suppliers- I suspect the project will be made along the lines of the klcc

cladding supplier

architect [ who will collect 2~3 % design fee ]

engineers and quantitity surveyors [ also collecting 1~2 % fee]

contractors and subcons

property managers who will be rsponsible to market the completed project

surrounding land owners whose land will suddenly rise 200-1000 per cent

banks who will be the lenders to prospective buyers of the property


And a host of others

Anonymous,  28 October 2010 at 14:33  

2/2

Real Estate Principles- Location , location , Location

---------------------------------------------------------


are we melayus that stupid to let ego takes the better side of good judgement?


Reasonable men would ask the question -

What successful models do we follow?


The most successfull mall in kl is probably the mega mall and the suria for

upmarket accessories. One can ask the TDM where does he go shopping for his clothes?

KlCC enjoys a superior golden mile image. if PNB were to make another mall,

it would be prudent to have it in the golden mile.

Ampang is the Location!


If chingkies can get nice gomen lands, PNB must do better!!!

Survey the better lands you can get.

Look Desmond got BBGS. Melayus should ask for Jalan Pegawai, or AMPANG PARK

[uda owned]. Buy it. REBUILD A SUPER MALL. Build a new complex over

the 4 way intersection of jalan ampang and tun razak.

After all these kind of buildings over traffic has been done in the uk.



Actually, why build a prestige buildings in the neighbourhood of choo cheng kay,

sun complex apartments?

Are the gk's [ at least local gk's ] of the pnb conn sultants and bosses

that poor?

Don't u know what these apartments are associated with?

I suggest pnb suitable apartments in the likes of such apartments in the bukit

stadium areas and build a mega mall/ office complex in a good location.


Ever wonder why my fovourite country [ singapore] do not have skyskrapers

like klcc?

They built better super looking buildings by famous names [ of course, simple

melayus dont't know about this] ....


parting shot

--------------


prestige is not having the largest , biggest or mostest


Imagine this fact , god made women with a 4 1/2 inch vagina . Would a 10 inch

phallus be that extra useful?

khong khek khuat

Hakiman,  28 October 2010 at 15:39  

hshamh


Whatever it is, it is still a bad idea for Malaysians and for the poor Malays.
As Datuk Sak said, make public all the details of how this idea was mooted, the financial analysis, and what it means to the poor Malays and how this mega tower will raise the standard of living or achieve highh income for each and every poor Malay under the umbrella of the PNB.

Or this whole scandalous idea is to enrich the UMNOputras in the name of NEP, Article 153 and in the name of Bangsa dan Agama...

vinnan,  28 October 2010 at 16:12  

hishamh.

In 1978 I worked for RM4 a day pumping petrol. Today, the same job pays RM25 a day. To a simple Joe like me the RM200 million is the equivalent of RM1.2 billion today. A lot of money by Malaysian standards. On top of this money which PNB got without having to do anything, PNB is given special discounts in IPOs of cash cows such as PLUS, Maybank and Telekom. In other words, apart from being given money they were also given a golden goose which laid golden eggs. Thus while your claim of PNB not being given anymore money since the initial grant of RM200 million is true, the government went one step further by giving PNB the right to buy shares at a discount in all corporation with business monopolies. PNB epitomized the Malay cultural tradition of 'tabur menabur' at its best. The generous dividends paid by PNB benefitted not only the Malay investors throughout the country but also the non-Malay business people. The Dato seems to think that this culture should continue in PNB. Why build one tower to benefit only some people? Why not amaller towers all over KL to benefit more people? UMNO leaders/contractors in their chase for Projek-Projek BN seem to have forgotten that is was this Malay concept of wealth sharing which made UMNO great.

sakmongkol AK47 28 October 2010 at 16:21  

godfather,
i pity you to have to rely on a person like hishamh to debuk my assumptions. you yrself are incapable no?
as to the money PNB receives from govt; this was what i said:-'

It isn't built of government money is true, but still it's made on money earned by PNB on the funds it gets from the government to buy stocks on behalf of Malays. In that process it makes money.

i meant who else in the world can get RM 200 million grant back then with which to go on a shopping spree? it made money because it got the grant in the first place.
i welcome anyone , godfather or anyone to debate my articles. or would godfather prefer the gutter arguments style?

Quiet Despair,  28 October 2010 at 16:23  

5 units of 20-storey tower? Where's the pride Sak.
Megalomaniacs and lovers of megalomaniacs won't like that.
The higher the better. Why do cities need sky-scrapers? For prestige, show-case and the ego and pride of the government and the people.
It's a great and happy feeling to be up in the clouds when you are up at Petronas Twin Towers.
The same when you go up Chicago Sears Towers or Hancock building or the toppled World Trade Centre.
Skyscrapers are landmarks that we have arrived. That is why Chicagoans are mad with the proposed renaming of Sears Towers after it has been brought over. They are also fuming mad that the Chinese are buying their high-rise landmarks.
So it must be with us too. Why the need to have a signature petition against it.
I guess if its Mah Sing (example only) doing it, there will not be such a hue and cry.
Let's see whether there are opposition if Jho Low really wants to build a sky-scraper.
Malays jolly well know that they cannot afford to even rent a food-stall there just like in Petronas Twin Towers.
From the contractors to the wire-man to the shop-lot owners, it will all be Chinese, Chinese and Chinese. So what's the beef from Ah Chong.
But Malays are happy they owned the building. Our kampung folks too will go in bus loads of bus rombongan to sight-see at the Tower like you see on weekends at Petronas Centre.
Of course it is part of the economic transformation for the Malays.
And by then, I am sure the government will find a way to ensure that Malays too have a stake in the building.

P.S. I am not demented. Just an optimistic Malay who think highly of the capability of my race if given the chance.
Must we be forever in malaisie.Just contented having Daya Bumi or the first Malay owned buiding Menara Dato'Zainal, owned by the late Zain Azraai's dad.

Anonymous,  28 October 2010 at 16:59  

PNB has same function as Temasek Holding in Singapore set up by government of the respective countries, Temasek had grown into a more than US20 billion corporation. Where is PNB now?

You need to build 145 storey to boost the stupid ego of the sub-specy lah.

Quiet Despair,  28 October 2010 at 17:03  

Anonymous 14.23

How come I don't know such Malays exist.
Tell me where you live and work so I can meet such Malays.

Anyways here are some findings done in a survey to be published soon.

Chinese Pride?

1. Gimme, gimme 100 percent,
2. Love Singapore but gua no
speaking Mandalin and English.
3. Even take low-cost housing schemes using other people's name (even dead ones).
4. Rich but still want JPA scholarship because itu Meleys got one what.
5. Tak mau lor masuk kerja kelajaan because no BM la. Also little pay for more work.What for.
6. Bodohpun dapat kontract lor.

Anonymous,  28 October 2010 at 17:08  

anon 14:23 you are full with jealousy and vengeance.

Anonymous,  28 October 2010 at 17:13  

betul tu Quiet Despair, ada tambah lagi, baru punya... org melayu cuti haji pun dia pun mau cuti haji..

Haji punya cuti pun mau dengki, dia kasi tau dia pun ada haji juga...

Anonymous,  28 October 2010 at 17:14  

Chinese pride, orang punya pun dia punya, tapi dia punya, dia punya sajalor, org lain tak boleh ikut.

Banyak busuk punya org, tarak bagus la buat macam tu...

hishamh 28 October 2010 at 17:16  

In case anyone wasn't clear, I was offering information to clarify the situation (especially on the numbers), and not making a judgement on Dato's article.

There's an awful lot of misunderstanding out there at the moment, particularly with respect to the source of funds that PNB is using for the development of the project.

Communication has been poor - for which the only excuse I can say is that the PM's budget announcement took us completely by surprise.

@Godfather

Sorry, I'm apolitical

@anon 13.08

Like the horribly complex, nightmarish Kg Baru project?

@Hakiman

We shall see - but I suspect the end game will be injection into a REIT and an offer for sale to the public.

@vinnan

I don't have any information on either PLUS or Telekom, but the IPO for Maybank was in 1962 - a bit far fetched don't you think? Guthrie and Sime Darby were acquired through raiding the London Stock Exchange.

hishamh 28 October 2010 at 17:18  

@anon 16.59

No, Khazanah Nasional is the equivalent of Temasek. I don't know of any other foreign example to compare with PNB.

donplaypuks® 28 October 2010 at 17:23  

Frankly no one would give a damn if they want to build a hundred such towers.

But, as long as it involves Government and/or GLC or PNB funds, the respective shareholders have a right to expect transparency in the decision making process.

In this particular case, as it involves PNB money which was largely funded by Government and Najib's has promised largesse of a $100 million 'Gift', we want them to declassify feasibility and EIA studies and financial and marketing studies if they have been done. And we want OPEN TENDER for such contracts. That's not an unreasonable request!

Even if it is a 100% private sector project, Bank Negara and MoF have a duty to see that they are not over-borrowing to build it as we may may then end up with an almost bankrupt situation as in 'over-exuberant' Dubai and later involve a Taxpayer bailout!!

dpp
we are all of 1 Race, the Human Race

Anonymous,  28 October 2010 at 17:24  

The location is next to Victoria Institution (VI) which happens to be one of the oldest school in the country. I wonder what will happen to the school then? Same fate as Bukit Bintang school??

Anonymous,  28 October 2010 at 18:30  

sori tak tau tulis english..tulis melayu saja la...suruh itu PNB bayar hutang supplier melayu kecik kecik yg supply barang cepat cepat..dah la harga tekan sampai nak mapus sampai supplier melayu mati..dah dah barang..bayar pun lambat..haiyaa..cilaka punya PNB..lagi mau buaang duit belion belion mikin mangunan..

Anonymous,  28 October 2010 at 18:32  

“I don't know of any other foreign example to compare with PNB.”

You don’t know because there is none. Every country is unique, and Malaysia is unique, we have a unique constitution and a unique economy policy.

HuaYong

Anonymous,  28 October 2010 at 18:34  

Wah Lau Weh,

Thats Why Lor, Chingky like to pray to Money Wor

Itu Machan dapat 7% Discount why cannot I get wan?

Keleja Gomen ka? Aiyak BM tarak bagus macam mana mau masuk

Jadi Polis ah? haiya! manyak panas wor, Gaji manyak sikit

Wah Encik, Kereta Baru - Balancing Allignment pon mau discount kah? ini semua STANDARD price wor ...

" Lu tak tau ka sapa bagi Malaysia Kaya ? "

Some chingky are way beyond repaired.

Apa hal ada hati nak jilat p**i pompuan melayu gak sebab nak 7% Discount on top of that,ada hati nak jadi TUN satu hari nanti.

- Ikan Tongkol -

Are You Gonna Go My Way,  28 October 2010 at 19:09  

quiet despair.

P.S. I am not demented. Just an optimistic Malay who think highly of the capability of my race if given the chance.

what chance are you talking about mr QD?

Go on the street..where malays cant even get small loan to run a business unless of course you own a land as collateral. The richer you're the bigger the loan they'll give you.

In Islam, we promote take it from the masses and give back to the masses..not to some selected few. Tabung haji, PPZ and now PNB failed to do that.

Anonymous,  28 October 2010 at 20:06  

TO quiet Despair
For once i have to agree with you.Call a spade a spade.You are damn right about the ah bengs of this land.But i have to say, that not all of them though.
ITs all about money and apa untung/benefit yang boleh dapat.They talk about the"unfairground" but they still want the sub-contract, They say that corruption is evil , but they stil offer and give.Thats bloody hypocrisy at the highest level.
Sadly though you have to admit that they are still being accomodated and given the space to be the enemy within.
They have understood well over the years the strength and particularly the weakness of the malay race.AS such the problem continues to persist.

Anonymous,  28 October 2010 at 21:44  

Vengeful sentiment or not, at least SAK had written the article based on certain facts and figures to support his argument. Any differing views should also be based on similar analysis.

The point that Malays can't afford to acquire lots at Menara Warisan to do business cannot be denied and has been proven at other existing complexes.

Another worrying factor is will Menara Warisan become another Burj Dubai that has to be sold to Abu Dhabi Government for not having enough money to complete the project? Knowing PNB's financial position, will Singapore or any other country eventually take over Menara Warisan even before its completion?

Quiet Despair,  28 October 2010 at 21:50  

Ikan Tongkol


Seronok baca komen you. Ketawa terbahak-bahak I dibuatnya terutama bab apa hal ada hati nak jilat P***i pompuan Melayu.
You forgot one la bro. Ahmoi lagi lah tak ndak Mamat miskin.
Nak kawin dengan Boss Naza. Dapat fairy tale wedding.
Dah order bridal gown Vera Wang. Sama taraf dengan Chelsea Clinton.
Mamat tu pun boleh buat bangunan tinggi.
Lepas tu dapat jadi Datin. Just like instant Mee lor. And then Puan Sri and later, later dapat jadi Toh Puan.
Kids dah tentu Bumiputra. Best what be Bumiputra and Islam like this.
If divorced, tak mau pi Syariah Court. Go Civil courts can claim as much property as you want.
This kind of Bumiputra and Muslim we like ma.


Anon 20.06

You are right. That's what I am saying.
Now they oppose the project. But they will the first to queue up to get this and that package of job.
Hmmm that's the story of our lives.
We got to live with them.
Of course not all Chinese are like that. Only the wealthy ones who can hulur.

Anonymous,  28 October 2010 at 22:30  

dato'

1 bullshit is one to many as u can see of the klcc. what madness of madmen wanted to build more of these type of nonsense.

and whose belly will become bigger, sure the malaysian bullshit tycoons that existed due to silly projects and silly costing.

Anonymous,  28 October 2010 at 23:08  

TO quiet despair
When you say that you have to live with this, it means like continue walking on despite having a small stone inside your shoes?its annoying and causes discomfort . we continue walking, even though the problem can solved easily by, making a pit stop, take off your shoes and simply discard the irratating small stone inside your shoes.Right?
But most of thetimes we dont that, we continue our walk despite the discomfort.Why?

Wenger J Khairy 28 October 2010 at 23:10  

To all those who criticize Dato Sak,

Number #1 - In about 2 yrs time, our Federal Govt debt will exceed RM 500 billion, or happily be RM 17,000 per man, woman and child in this country.

In 5 yrs time, our Federal Govt debt will exceed RM 700 b, or equivalent to RM 23,000 per man, woman and child.

The Government themselves have mentioned that shortly Malaysia will be a net importer of Natural Gas. You can imagine what wonders it will do for Petronas bottom line.

I, Wenger J Khairy, am appalled at all those who criticize Dato Sak. What is the NOI for this project?
Do you know?

By the way, if PNB as a Net Asset of RM 145 B, then this project will represent an investment of 3.4% alone.

Second question, taken together with this project, what will be PNB's exposure to commercial property sector? I bet will be very low (sacrasm for the Mahas).

Third question, investing in commercial real estate is great right? After all, we could marvel at the vast empty and failed projects during the economic crisis in 1998. It seems commercial real estate is such a low risk investment, that the Basel committee decided to risk weight the exposure at nothing less than 100%. Once again, sarcasm for the Mahas.

I don't know and I couldn't care less because the folks who are pro this project want it out of "pride" issue. It seems to criticize this project is to make a political / racial statement.

Dato Sak is doing what any good and right minded citizen would do. Questioning, probing and demanding the answers.

The others who take personal attacks a Dato Sak are worse than the lemmings who decide to jump over the cliff. The lemmings do so willingly, these folk instead are attacking the only one person who is trying to tell the truth.

As the Great Tun once said, supporting something without knowing why you are supporting = "sokongan tak berkualiti".

Wenger J Khairy 28 October 2010 at 23:10  

To all those who criticize Dato Sak,

Number #1 - In about 2 yrs time, our Federal Govt debt will exceed RM 500 billion, or happily be RM 17,000 per man, woman and child in this country.

In 5 yrs time, our Federal Govt debt will exceed RM 700 b, or equivalent to RM 23,000 per man, woman and child.

The Government themselves have mentioned that shortly Malaysia will be a net importer of Natural Gas. You can imagine what wonders it will do for Petronas bottom line.

I, Wenger J Khairy, am appalled at all those who criticize Dato Sak. What is the NOI for this project?
Do you know?

By the way, if PNB as a Net Asset of RM 145 B, then this project will represent an investment of 3.4% alone.

Second question, taken together with this project, what will be PNB's exposure to commercial property sector? I bet will be very low (sacrasm for the Mahas).

Third question, investing in commercial real estate is great right? After all, we could marvel at the vast empty and failed projects during the economic crisis in 1998. It seems commercial real estate is such a low risk investment, that the Basel committee decided to risk weight the exposure at nothing less than 100%. Once again, sarcasm for the Mahas.

I don't know and I couldn't care less because the folks who are pro this project want it out of "pride" issue. It seems to criticize this project is to make a political / racial statement.

Dato Sak is doing what any good and right minded citizen would do. Questioning, probing and demanding the answers.

The others who take personal attacks a Dato Sak are worse than the lemmings who decide to jump over the cliff. The lemmings do so willingly, these folk instead are attacking the only one person who is trying to tell the truth.

As the Great Tun once said, supporting something without knowing why you are supporting = "sokongan tak berkualiti".

Wenger J Khairy 28 October 2010 at 23:11  

Part I

To all those who criticize Dato Sak,

Number #1 - In about 2 yrs time, our Federal Govt debt will exceed RM 500 billion, or happily be RM 17,000 per man, woman and child in this country.

In 5 yrs time, our Federal Govt debt will exceed RM 700 b, or equivalent to RM 23,000 per man, woman and child.

The Government themselves have mentioned that shortly Malaysia will be a net importer of Natural Gas. You can imagine what wonders it will do for Petronas bottom line.

I, Wenger J Khairy, am appalled at all those who criticize Dato Sak. What is the NOI for this project?
Do you know?

Wenger J Khairy 28 October 2010 at 23:11  

Part II

By the way, if PNB as a Net Asset of RM 145 B, then this project will represent an investment of 3.4% alone.

Second question, taken together with this project, what will be PNB's exposure to commercial property sector? I bet will be very low (sacrasm for the Mahas).

Third question, investing in commercial real estate is great right? After all, we could marvel at the vast empty and failed projects during the economic crisis in 1998. It seems commercial real estate is such a low risk investment, that the Basel committee decided to risk weight the exposure at nothing less than 100%. Once again, sarcasm for the Mahas.

I don't know and I couldn't care less because the folks who are pro this project want it out of "pride" issue. It seems to criticize this project is to make a political / racial statement.

Dato Sak is doing what any good and right minded citizen would do. Questioning, probing and demanding the answers.

The others who take personal attacks a Dato Sak are worse than the lemmings who decide to jump over the cliff. The lemmings do so willingly, these folk instead are attacking the only one person who is trying to tell the truth.

As the Great Tun once said, supporting something without knowing why you are supporting = "sokongan tak berkualiti".

Anonymous,  28 October 2010 at 23:24  

Bro Sak, funny how every topic can be turn into a race issue.
From what I hear, those that oppose the construction of Warisan Merdeka came from all Malaysians, not any specific race, including yourself.

Perhaps, we should look at it or debate it from a different angle or perspective.
What has this building got to do with Malay pride ?
It's just a building, built for economic reasons, right ?
Why can't it be debated from that angle, as to whether it is more economical or whether it would beneficial to build 5 buildings instead of 1 building, as you have proposed ?
This debate is really getting heated for no apparent reason. Your title just brings in unwanted criticisms that has nothing to do about race.

Anonymous,  29 October 2010 at 00:06  

dato' sak satu perkara je tentang development stadium merdeka ni...semuanya nak bagi peluang pada puak2 umno meniaga nak jaga kroni bukan nak jaga rakyat pun, cam kita yg jadi ahli umno ni yg tk kenal vvip ni memang cam rakyat marhian je la asik kena tipu kat drang je la tok .....

walla 29 October 2010 at 00:40  

The first grand one was the Sears Tower in Chicago.

If you go to its basement, there is an american plaque commemorating its structural engineer, a pakistani named Fadzlur Khan.

He achieved engineering feats of bold calculations for the structural integrity of skyscrapers, a totally new concept at that time, which blazed a new trail for high-rise buildings all over the world right to this day.

That's the pride one should be talking about - breakthroughs that turn local challenges into global solutions - without any racial connotations or communal rancour.

In this example, a technologically leading country acknowledged a real achievement by someone whose roots were from a third-world country.

And here we are talking about pride of a race to be born from a building.

Sure, our people must have first stood by to watch the japanese design and build Dayabumi, and again to co-build the Petronas Twin Towers, and perhaps they would be the local ones now to design this menara.

But just as many different teams had worked to build the Dayabumi and Petronas Twin Towers, such an edifice can't be built by people of one race alone. It can only be built by a combined effort of many teams with diverse backgrounds.

Even the money to fund it that supposedly comes from one community would have passed hands from other communities which had paid the taxes which gave the seed money, or bought the shares which is raising this investment capital.

That's global reality. Things get big and complex so that specialization must come into play to tackle technical and logistic challenges, meet precise and tight schedules, coordinate the workforce and materials, and keep within budgets.

Which means that after the complex is up, can one say it was the work of just one race? So, what pride are we talking about here?

Secondly, we all remember KLIA. When it was first opened, busloads of our Malay folks from the kampungs made their long journeys from all over the country just to go admire our latest japan-designed, mega-terminal. But has it made a big difference to their individual lives after that?

Later, we came to know that the very marble tiles from Langkawi they would have walked on in their threadbare slippers in that terminal had been exorbitantly overpriced to reward certain personalities.

Have these people done anything in turn for the kampung folks whose difficulties would have been ameliorated by the savings if not the principal sum itself if routed to real poverty-reduction programs even while the old Subang airport has been subsequently extended with two other terminals but remains as underutilized as the KLIA?

Now, as you read this, that grand terminal is bleeding at the rate of rm1 Billion a year. Because our leaders never realized an airline is a business, not a plane or a building. Or a pride, even a prejudice.

And because planes must fly in order to make money, they have to land which means landing rights which means network agreements and the whole blackbox of airport terminal management and airline service economics.

Therefore, one should only be proud if there is a real achievement based on precise application of real knowledge and world skills, and not by just owning land on which to build a tall building.

walla 29 October 2010 at 00:41  

2

Next, how does one get the real knowledge and world skills? Learn through good education and honest interaction. And if the motivation for that is not there? Let me answer with an example.

In one HSC year, a Malay student from a school on that hill scored 3A's. This was considered not bad for the standard of HSC was considerably higher then. How did he do it? His father locked him in the room every day to force him to study after he went back from classes. But we don't know whether he later took up law because his father wanted him to be a magistrate or whether he took up accounting because he liked numbers. Neither would have been too bad because the country was young then.

Today, is that sort of enforced motivation or long-view, pragmatism-laden, self-sacrifice being done anywhere around in our society?

Or has the political leadership in its overzealous zeal created such a dream scheme that someone born to a particular race can expect to be handled with kid's gloves from beginning to end?

In which case can anyone doubt he will remain a kid with regards reality until the end as well?

Or suddenly face up, and fall down? And therefore, out of some unjustifiable "pride", turn to cranking up sly innuendos to blame others for his own inadequacies?

Such as perhaps we are seeing in the vicinity of this blog, too?

Which would certainly make the second element to education, namely interaction with others, not just a chore but a heavy burden, wouldn't it?

Yet the best eye surgeon in this land is a young Malay lady. To handle that organ, both brain and hands must be as steady as you can get.

And it has got nothing to do with one's root - malay or any other race, asli or pendatang, bumi or nonbumi.

Is any of these assigned notions etched on her certificate of practice?

Does any of these properties aid or impede her competence and skill?

So now that our Umno leaders have finally come out to confirm their multitudinous roots not of this land, to wit all are pendatangs except the Orang Asli's, who are left to be kidded about social contracts and therefore the magic of race in ethnocentric economic considerations?

Next, what about the cost of nonMalay pride?

They came with just the shirts on their backs and slogged for a generation, saving whatever little they had earned which was then plowed into starting their own business or sending their children for education. Every sen was made to work as hard as the person who had made that sen. There was never any privilege to increment, bonus, epf, discount, loans, scholarships, grants, even special shares, trust funds or better hospital beds. And those who fell and failed had to get up and start all over again all by themselves.

Therefore, can anyone think that when they finally made it, their pride was not earned the real way?

So we have kiasu's and misers in their midst? But their perks and privileges are in perfect proportion to exactly how hard they work in a world where they are already branded for official exclusion the moment they are born. They had to fend for themselves, even to this moment. Therefore they have to make their own world of living. Indeed some did it to such an extent they apply the same business-like calculations to their own community members as well.

walla 29 October 2010 at 00:42  

3/3

Let's draw an example of that. Somewhere near Kampar, there's a new campus. It doesn't have hostels so the students rent cubicles of which there are 17 cubicles per shoplot in rows of multilevel shoplots near that campus. Each cubicle is rented out at rm400 per month. So we have virtually a hostel of sorts. Which means there has to be a fire escape. And there isn't. Yet the place has been approved by the dept. Would that also explain why the offer by someone to build real hostels for the students on probono basis was not approved?

Let's take a counterpoint example instead to provide a perspective of things. It goes like this...

Who would ever think that a mechanic would not have added some loading to parts he bought on behalf of any of his customers?

However, if we see it from another perspective, he got to where he was without much chance at real education, and he had to be lucky to get good mentors to teach him the trade well enough for him to be independent one day, and he had to go out and foray for a loan on his knees, probably on ruinous terms. and most importantly, his economic well-being is inversely proportional to that of his customers. It's like the doctor. He only makes when his customers are sick. Same too with the mechanic. He only makes when his customer's car is sick and the better he does his job of healing, the longer it would take for the customer to return. Meanwhile what does he and his family live on?

Therefore, does the State see things from these examples from this private sector, nonMalay, perspective well enough to honestly empathize with their situation? And i don't mean just motor mechanics or cubicle renters.

And, more importantly, enough to realize that the dream schemes practiced by such as Umno all these fifty years of selling a pact between what are just tenants to the exclusion of the real landlord cannot be sustained one more minute except by the grace of goodwill between men neither described by the notion of race nor succoured by empty pride built upon the stilts of form and not substance?

Talking of which, let's look at Mindef. The AuG's latest report decried the amount of money spent on chandeliers for a base camp mess room. Wouldn't you too, knowing full well if an enemy were to launch an attack, it would target the decapitation of the command, and if they are in that room, a heat-seeking missile would find it faster from the greater amount of heat exuded from a chandelier?

In the same vein, consider the ruling that female reporters will only be admitted into national security areas if their hemlines are suitably long. One would think it should be the other way around. The hemlines should be short. In fact the clothing should as skimpy as possible to prevent any hiding of weapons going into such places. Unless of course the rakyat are to conclude our national security can be compromised by looks only.

What for security camps, so too for our august House, the Parliament.

Which says as much about national pride if not prejudice, doesn't it?

Lastly, let’s pose a question. A lot of problems are legacial. They were caused in the past, brought forward to now, and continued unabated, magnified even, under new garbs of spin and shock. Some of those problems emanated from politicians, ministers and so forth. They have been put to pasture. Do we remember who they are and what they have done? If it is easy to forget individuals, it is easy to forget their parties.

Rakyat are the ones who build a nation. Politics is just for banners. Especially in these woods.

Greenbottle 29 October 2010 at 07:46  

reading all these comments (scanning through rather)i detected that malays (umno malays rather) are a very insecure and harrased and sorry lot. they are not confident , the have low self esteem and think that without umno they will be wiped out.

i as a malay myself find this deeply embarrasing and all these umno malay comments further justify the non-malays -particularly chinese- perception that malays are sub-par in their intelligence and can only survive with hand outs. discussing about 100 storey building and all the concern is malays can not even afford to have a food stall business there. how humiliating can we get than this!!!

to the chinese particularly,please do not oversimplify . there are a world of difference between insecure umno malays and the malay race per se.

the non-umno malays particularly PAS people are trying their best to get rid of this umno yoke and free the malay mind from the umno mentality.

having said all that this is not to say that malays (and also other disadvantaged non-malays) don't need all the help they need. but we need a new model, the non-umno model of making malays a non-racist confident race of people again.

Anonymous,  29 October 2010 at 07:53  

nak jawap kat anonymous yg komen ttg posting ni...memang laaa u rase tk ada kena mengena ngan bangsa tapii soalnya kalau pembangunan 5billion ni duit yg terlibat bukan duit kerajaan sebab guan duit PNB maknanya duit rakyat MELAYU tkda duit org cina, india dan etc so sapa kata tkda kena mengena ngan bangsa MELAYU...yg akan untung besar nanti adalah company CINA je ..besi dari mana company cina...simen dari mana?..company cina..semua raw material dari taukey cina apa yg MELAYU dapat?????? nak harapkan return of investment baper puluh tahun lagi dgn belanja 5billion baper lama nak dapat balik modal tu pn kalau dapat balik kalau hancus....sapa yg rugi MELAYU gak yg rugi tkda org lain ...jadi kalau org kata pembangunan ini tidak ada kena mengena ngan bangsa ianya 1 pendapat yg sama sekali tk betul....

Anonymous,  29 October 2010 at 09:20  

Quiet Despair,

'P.S. I am not demented. Just an optimistic Malay who think highly of the capability of my race if given the chance.'

Gooooood!

Then pls explain what do u mean by 'given the chance'.

40+yrs of positive discriminating NEP is NOT a chance?

U r what u r now is NOT that given chance?

The yr-in-yr-out public fund wastage, as detailed by the auditor general reports r amble proof that that chance has been wasted as well!

Nothing has been learn. Everything still wagon-cirling around the ketuanan cocoon. Now with the added syok-sendiri mentality of phallic proportion!

Oh, by all mean go ahead with that 100-storey wawasan merdeka. Just put in a BIG clause that PNB will not get any helps from the govt of the day in whatever form - lest just like Tajudin's Mas fiasco.

Then most likely this phallic icon will stand as testament to the stupidity of the ketuanan melayu for the future generation to remember!

Anonymous,  29 October 2010 at 09:50  

To Quiet Despair,

Going by your twisted logic, I will certainly despair. You think that this 100 storeys warisan building will eptitomise malay supremacy just because it is built with PNB/malay money? Think again if you have any brains in your head which I doubt. The only way for the malays in this country to stand tall and proud is through sound and proper school education and to learn to stand on their own two legs without the NEP/NEM crutches. Don't you feel any shame when even your ex-PM (TDM) can proudly proclaim that after 41 years of NEP, it is still very OK for the malays to be given a handicap just like in golf? It's so sad that even he equates the future of the malays to a game of golf.

Come on Quiet Despair, quit blaming the other races for your own woes. Get a life and be a man and start standing on your own two feet. Get PNB to provide more assistance to the malays to better their livelihoods via more industrious means instead of building another white elephant skyscraper to enrich certain individuals. You must be rather naive to equate the warisan merdeka as a showcase of malay supremacy. For your information, the chinese in this country do not feel any pride in any of the so called chinese own buildings in this country because the chinese do not have any emotional attachments to such concrete and steel structures.

Anonymous,  29 October 2010 at 10:57  

anon 17:24, tapi bukit bintang olang talak bising maa, melayu mau bikin bangunan tinggi, lu all manyak bising arr...

mungkin lu all dengki orr...pasat sebelum ini takda cina boleh bikin rumah 100 tingkat, kaya pun talak bikin itu tinggi punta tingkat, bila PNB yg banyak simpan luit melayu bikin 100 tingkat, lu takut maa, nanti melayu2 semua jadi tokey busat...lawan sama itu cina...

Lu takut melayu busat luit, lu mau lu sorang saja busat luit. Wa tau...wa tau, itu la yg lu takut, jadi aaa..lu and geng aa...pakat2 bikin melayu takut, cakap melayu bodo dan melayu punya olang makan sama melayu.

haiiya...lu langsung takmo kasi melayu can maju...lu manyak takut hoo...org kampung jadi kuat sama maju... haiyya busuk punya olang..


Lato' arr....silagi aarr...itu perkara belum terjadii aa...macam-macam boleh berlaku, skrg nampak tak bagus, lain hari boleh jadi bagus dan berguna....sikalang nampak tak berguna, belum tentu tak berguna selamanya, la lato'

Lato' sulah manyak makan garam, mesti sudah tau lama ini perbidalan aar... apa apa pekara, tiada siapa ala tau apa jadi ujung, boleh jadi bengkang bengkok, boleh jadi banyak halangan...tapi yg banyak halangan itula...yg ada manyak emass wooo..

sekian dulu, halapan saya, jangan gaduh2, jangan losak sama bangsa, jangan juga jadi perosak bangsa lain...

lu tengok jilan sebelah sudah ada itu boom besar melutup, tuhan allah punya kuasa..jangan gaduh2 maa...nanti tuhan malah....bikin ini negara bergoncang...bergoncang dan bergoncang.. langsung tinggelam maaa

hishamh 29 October 2010 at 11:04  

@anon 17.24

As a VI old boy, I'm more than a little concerned about that as well.

@anon 18.32

Actually, now that I think about it, there are actually two foreign examples that use the PNB model, one in Fiji and the other in Indonesia. The Fiji one is pretty successful, but progress on the one in Indonesia is pretty slow.

@dpp

Trust me, over-leveraging won't be an issue.

@Wenger

Q1. I haven't seen the numbers.

Q2. Based on news reports, Warisan Merdeka would about double the existing portfolio I think.

Q3. When's the best time to buy property (or any other asset)? When valuations are weak. 1997-98 was a heck of an opportunity.

Anonymous,  29 October 2010 at 11:09  

Anonymous 29 October 2010 07:53,

Kalau macam itu, berilah maklumbalas kepada PNB, gunakanlah duit itu secara bijak dan berhati -hati.
Bro Sak memberi pendapatnya secara bernas dan ada logik dari segi ekonomi yang akan memberi manfaat kepada orang Melayu juga.
Keuntungan lebih baik dari pembaziran.
I am happy if you are making money too. If you don't have money and you are not happy, would you spend and spread it around ?

Quiet Despair,  29 October 2010 at 12:32  

To all my non-demented and smart pals.


Aside from race envy, I can sense you guys are angry Menara Warisan will be build on your money.
I fail to mention that it was PNB's idea which was announced late last year.
Najib's mistake was to announce it as part of his Budget Day speech.
Hello Ah Chongs and Muthus, it is PNB and Malay money okay.
Won't touch your money. Ada faham???
But cant wait to claim a stake when the project starts. No??

Anonymous,  29 October 2010 at 16:10  

Dear Walla,
well said and extrapolated. Yet, there will be much finger pointing because there is never a middle ground for most except to the farsighted ones like you. Because, there are daily 'exhortations' from the ruling cliques who want to maintain their power supremacy at all costs, and leave no stone unturned, to dupe their own race to serve their selfish interests. At the apex, you can see the unholy alliance of the greedy power brokers with the ruling elites, and there is nothing strange that they come from a mix of races with voracious appetites, like to like converging together. These new young upstarts who seem to have a finger in every pie and who have the ear of the big guy, what kind of trailblazing will they leave behind for posterity?
Shock and awe, devour and conquer, uproot and devastate before leaving for new shores to conquer. They are a pitiful lot indeed.

Sincerely,
PowerOn

Wenger J Khairy 29 October 2010 at 21:24  

Dear HishamH,

You posed a very accurate question. Asking about market timing. I would probe further and ask about asset concentration, returns, risk adjusted return, portfolio concentration, liquidity risk, cost of funds, and so and so forth.

The dimension Dato is taking is asking for these answers. If these guys come out and say, look, this is going to be commercially great, with some basis, then go ahead. But the problem is people are equating this project with racial pride.

Where is the rational decision making process in that? Dato Sak as an icon in free and independent thought is asking these questions. Instead of people seeking answers, they roundly attacked him (not you, but others) that is certainly not the "developed mentality" way but rather a Stalinist, Mahathir-centric way of demonizing any person who disagrees with you.

This is not right. This is not Malay(sia). Its not even Mexico.

dahserikngankeris 29 October 2010 at 21:53  

dato, how about corridor iskandar? Can u peel the onion there? As for the maha's and the bada's as well as the jibmah's, how about subsidizing petrol again, whatever the hell happend to inflasi sifar?!

Anonymous,  29 October 2010 at 23:12  

Quite Despair, are you saying you're not expecting the nons to take part in this biz venture. You don't want their biz is it ??

Anonymous,  30 October 2010 at 11:16  

Quiet Despair,

'Won't touch your money. Ada faham???'

R u najiromah (can he/she?) to ensure that when wawasan mederka is

1)facing cost overruns & unable to meet completion date as stipulated - will step in to help in whatever forms?

2)construction problems facing the Maltrade building, the high court in Jld Duta etc etc, - wont point finger anywhere but the right culprits

3)can't get quality tenants & force GLCs to lease at sky-rocket rent - just like that building behind the old Mara along Jln TAR

4)inject into a Reit & arm-twisting GLCs (very sure private Reits won't touch it with 100ft pole)to pay exorbitant price for it - when sign of financial strain appears in PNB's book about this phallic icon.

5)use tax-payers' money to salvage it in the name of good-old racial harmony as PNB's money is the culmination of the poor Malays.

Sat whatever u like, Quiet Despair, at the end of the day, iff wawasan mederka ever get built, these problems mentioned above WILL definitely appear.

It'll stand as another testament of that ketuanan stupidity, just like Bank Bumiputra.

Oh BTW, where's that ketuanan ATM now????????

& at what cost to the nation???????

a.z 1 November 2010 at 16:34  

Has anyone commented that just because Mahathir built towers, Najib has to built towers too, Mahathir built highways, Najib wants to built highways.

Is there no one with creative ideas that doesn't rely on copying what Mahathir did?

Sigh..is this the result of a poor education system.

vinnan,  1 November 2010 at 17:23  

Quiet Despair,

The government gets its money by taxing ALL Malaysians. These taxes are statutory requirements which ALL Malaysians must comply with. When the government gives this money to PNB, they are giving part of MY money to you Mats. What kind of racist shit is this 'Malay money' you are referring to?

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