The Economic Crime of 2020. The Bailout of ECW. Part 1.

1. Is bailing out ECW a bantuan prihatin nasional? ECW should be allowed to bomb out rather than using up our scarce resources. It once made huge profits. Did it care for the welfare of the people?

2. If it's going under it is the result of gross mismanagement. That cannot be corrected by the government bailing it out. It should be allowed to die a natural death. That's the essence of laissez-faire economics.

3. When Muhyidin said he is Malay first, a Malaysian second that was all bs. It was meant as public consumption only especially for the naive Malays.

4. In reality like other boastful Malays, he may not eat pork or drink but certainly he's not averse to having a Chinese girlfriend.(I could another salacious word)

5. Of course, he can always hide behind the bald pandering of the khazanah CEO. That's a typical behaviour of 'high achieving Malay'.

6. When I was with Shell, I remember the marketing manager then, Tengku Mahaleel would show he's vicious against the Malays but will bend over to accomodate the Chinese. The Chinese don't give a damn how they treat their fellow Malays. Muhyidin and other ball lickers of ECW are no different.

7. ECW will be bailed out by UEM. The deal was approved by Khazanah board chaired by Wak Muhyi. The Malay first Malaysian second man. ECW is of course a chinaman company owned by Liew Kee Sin.

8. The Khazanah boys are committing an economic crime and should be hung. Some say their action is treasonous.

9. Pardon my ignorance, but pray tell why would Liew Kee Sin be allowed to run the bailed out company? Wasn't he the one who mismanaged ECW in the first place? Liew and his band of thieves be allowed to run ECW 2? The Khazanah boys must be mental retards.

10. Perhaps as a sign of things to come foreign fund managers as taking their money out in a jiffy. The bean counter at MOF is playing dumbo.

11. Of course, he will make don't know because his ex bank CIMB is making the deal.

12. And Azmin Ali who was against the idea of bailing out ECW, this time did a volte-face and supported the bailout. Needless to say he knows who can comfort his backside.

13. The deal was supported by Wak Muhyi who's giving out essentially Malay money to a Chinaman company while giving out a mere RM50 to our fisherman. And he has sold the land in Bandar Malaysia owned by the government, to a chinaman Tan Sri and his Chinese partner. The land has a GDV of RM140 billion. That's your Malay first, Malaysian second, man. Yay!

14. Why is public money used to bail out a private company? ECW has a debt of around RM3bn and cash of only RM350 million. For the last 5 years it has performed badly.

15. Its share is trading at only 41 sen. If public money is used its good money chasing after bad.

16. The state of affairs could only come about because ECW was badly managed. Why is the same band of bad managers be allowed to run ECW2?