Controlling the heavens

I am not done yet with what's happening in the communications industry. To me, cyberspace is the next business frontier. Anyone controlling it will have a stranglehold on our economy. I hope the government appreciates the implications of being in control of the heavens. It shouldn't leave the decision making as to who gets a piece of this business to people who make decisions arbitrarily and clearly with the intention of lining their pockets. I am now meeting up with an authority in this industry and will be writing more on this subject.

This morning, i joined many who think PM's instruction for the MCMC and the Ministry of Communications to review the award of rights over the 700 MHz spectrum as a welcome relief. There are many things which can be put right. We should now review the role of the MCMC and how to create a new Telekom Malaysia which SHOULD be the government organ controlling the basics of the communications industry.

While waiting for further writings on this subject, I would like to share a comment posted in response to my article. The comment was posted in the Malaysian Insider.

Clearly, there is lots on Sakmongkol's mind - from "I was an undergrad in UM" circa 1977, his brief take on the perennial Malay malaise (Melayu makan Melayu - chiefly, UMNO who else) and ending with YTL hitting pay dirt.

Without a doubt, the government "gifting" YTL Corp the 700mhz spectrum has everything to do with business and politics UMNO's Way. In most jurisdiction, especially economies of the North, such co mingle of business and political ties would have alarm bells ringing but not so in M'sia.

It is just a matter of time before elections are held but prior to that, before working the ground to get another opportunity (mandate) to continue to 'play' M'sians, forsake and 'makan Melayu' for another term, UMNO's war chest needs replenishing - and yes, the rational is a simple as that.

Except for MCA which is sitting on a healthy cash pile and Taib Mahmud's lot in Sarawak, UMNO and all components don't have access to liquid funds. To make matters worse, UMNO's track record speaks for itself, a bankrupt entity that is not a good credit risk that even Nasir Razak won't extend a helping hand should UMNO call for a loan. Loan UMNO money .... forget it, don't mention it for no banker will hear of it.

Francis Yeoh is a noted Mahatiew crony from way back, so what better way than to revisit old ties - roll out the red carpet for YTL to bag a deal and the son of a gun, born again Christian won't have to sell his daughter to kick back some to UMNO. And sure, other telco's aren't too happy (they will be buying bandwidth/excess capacity from YTL near future) such a major consideration was done and dusted without much ado. If anything, the entire deal was stitched up in double quick time just because Vincent Tan failed to launch his football gaming business, still moaning that lost opportunity but there are market signs Vincent Tan is side stepping various obstacles, regulatory submissions, cutting short due diligence with Securities Comm facilitating the soon-to-be listing of various Berjaya's Food and Beverage business into one stand alone company.

All in, Toto Tan's lost is Francis Yeoh's gain - the fella' with the 70's porn star mustache lost billions, not being able to 'realise' profits from a very lucrative 'cash' business, which in turn translates into UMNO's pain as well. And having said all that, my hats off and pat on the back to all who vehemently protested against PM Najib awarding "the" most lucrative of ALL licenses under the aegis of UMNO - well done.

Just to side track a little, I was against the decision of the football gaming license being awarded to Toto Tan but totally in support for a statutory gaming authority ie social welfare body of past, being charged with regulating and administering a football pool, in the same guise as how the football pool is run in the UK, or S'pore for that matter. The upside presents a two prong benefit by curtailing mob influence, mopping up excess liquidity from the market place. Also, if it ever takes off, the statutory body responsible for doling out profits from football gaming can operate in the guise of public benefactors, just like how the Hong Kong Jockey Club dishes out hundreds of millions in charity each year - making good a public vice for the benefit of a larger collective ]

I'm an avid market watcher, fully vested and it is clear there is much 'monkey' business of late. Beyond the normal horse trade, the KLSE is abuzz with multi-million/billion dollar capers - capers (not the edible) because UMNO is in need of hard cash, so just imagine the charades behind the screen, the uncertain deals stitched amongst few beneficiaries but what I know is the certainty of UMNO proxies and agents making off with their share of the loot and as expected, forsaking the greater good of fellow kin's - Melayu makan Melayu - is such a norm that victims no longer feel the pain.

If I could offer a cue to Sakmongkol, in relation to solving the Malay malaise, perhaps he should start addressing the problem and take the view that education provides the BEST solution.

The road to success (not necessarily material riches) begins with a superior mind - it always been that way from time immemorial, and there is no short-cuts to the method - none of that fast track, promise of false success/life on easy street Mr.Tech Transfer Mahathir Muhammud as advocated by that big slime ball when conceiving Proton. With hindsight, all that effort in vain resulting in many newly rich Malays cropping up - handsomely wealthy not from new or old money BUT "stolen" loot that deprives the more deserving and the many who really really need assistance and a meaningful leg up.

DAMN all 'em monkeys of UMNO, BN dogs and also the notable royal leech - DAMN all y'all blood suckers.

Pray read these comments with an open mind.