Issues in Malaysian economy. Sontoloyo series 89.

1. Let's call these people,the NeoKeynes. Their mantra: spend baby spend.

2. The chief of the bureaucratic brahmins at the MOF, goes before Nana non and says:-

3. Sir, we have a plan to say under your watch, the tata kelola of the country's finances is thebestest

4. People will be saying, the country's finances has been the best under that mamak padukang. Amma!

5. Stirred by curiosity the PM asked, how? Lagu mana?

6. The chief brahmin probably the KSU said, we manipulate this concept of deficit.

7. The PM puts down the novel by Gabriel Marquez he has been reading and says to the chief brahmin, hang habaq how?

8. We hold the deficit number constant, it's down from previous overspendings and overstate our revenue. But our revenue is already known said the PM.

9. Easy, we include as revenue the overpaid taxes by taxpayers.. hey presto , we have increased our revenue

10. Because of overstated revenue, while holding the deficit number constant, we have narrowed the deficit gap.

11 . People will say, Mr anvar ebraheem is our bestest FM.

12. We have narrowed the gap due to financial discipline, practise financial prudence and are always guided by the famous good governance of the PM.

13. But actually, these bureaucratic brahmins are doing a sapura sleight of hand only

14. Just as sapura has booked in the 1b capital injection as earnings,the bureaucratic brahmins have booked in the overpaid tax accruals, as revenue.

15. The bureaucratic fraudsters have manipulated the deficit figure and so can report to the public that the economy is TER best

16. Its all due to the inspired good governance of the PM. The pasembuk effect.

17. These bureaucratic brahmins have been in the MOF for umpteenth years perhaps through previous administrations until now.

18. They can easily fooled the PM and could run circles around him .

19. The PM trusted the 'expert' advices of these bureaucratic brahmins while he may be busy reading novels by exotic writers.

20. The PM has to the defer to the advice of these bureaucratic fraudsters and will not be inquisitive on them

21. He won't be because he has not read Friedman or Hayek or von Mises.

22. The 'happy ending ' may then be reported to the public, just as sapura reported to the securities commission, we are profitable.

23. In reality, this happy state of affairs is the result of manipulation by the fraudulent bureaucratic brahmins.

24. It is therefore important, that the 1st of the requirements needed of our bureaucrats is HONESTY.

25. If these bureaucratic brahmins are dishonest, you get spurious economic results.

26. Now, lapi zhie ( hey , I am DAPig, so I speak pidgin Malay) may have wanted to expose the hoaxed deficit and debunked the overrated tata kelola. That is important of course.

27. I am more interested to tell of the ill economic effects of the spurious economic reporting.

28. But the hoaxed deficit may have other foreboding effects.

29. If you are dishonest about our true deficit, you may be dishonest too, about other macroeconomic indicators, right?

30. This follows the principle, falsus in uno, fàlsus in omnibus.

31. If you are dishonest about the deficit, you MAYBE dishonest too about important macroeconomic indicators like inflation, unemployment and even GDP.

32. Of the bad economic effects of hoaxed deficit, let me illustrate

33. Suppose you inflate our revenue while holding the already improved deficit spending constant, you have narrowed the deficit gap.

34. Or you manipulate the deficit in any manner you like. Hentam saja lah

35. Say our revenue is 10b. We have a deficit gap of 4b. That makes our deficit budget of 14b.

36. Now, inflate the revenue to 13b. You still want a deficit gap of 4b. Your new deficit budget is 17b

37. How do you inflate the revenue? By including the overpaid taxes by taxpayers which you have not returned.

38. If there are laws permitting this 'conversion' well, the laws be dammed.

39. How can laws be used to carry out a mischief?

40. The mischief is in using other people's money as though it's yours for deception .

41. The worry is now, you have 4b to carry out whatever you want.

42. You can now go out with capital and bail out spree.

43. You can do these on your chosen companies, play winners and perhaps make tons of commission.

44. Given the culture of impunity that now engulfs our society, I cannot discount the possibilities of the bureaucratic brahmins purposely going out making money through corruption .

45. What's stopping these bureaucratic brahmins from putting up cases for badly run and inefficient companies?

46 . For hefty commissions,they will put up convincing cases for the sapuras, the THs, the pnbs, the ltats, other glcs inefficient and badly run.

47. I strongly suspect, that for hefty commissions these brahmins will do their services.

48. Because of this, I have long advocated we carry out accounts and lifestyle audits

49. People are free to live the lifestyle they want . We only ask them to account for it and explain it

To be continued in part 3.

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Sapura-it ain't over yet till the fat lady sings. Tales by an unknown blogger. No 80

1. Am I missing something here. All journalists reporting on sapura are Soo ..o clever.

2. Sapura was reported to make 189m. Yaay

3. But didn't the government advanced it 1. 1b? Which actually means it's 900m in the red

4. It can mean 2 things. First sapura considers it got free money from the government. No need to pay. That's why it didn't include the 1.1b in its account

5. Or it could mean, the government actually considers it Ang pow money. No need to pay

6. But the PM is an honourable man. He says the 1.1b must be paid. When?

7. The PM Anvar Ebraheem can't be lying to us. So boys, the 1.1b stays in sapuras books .

8. Then pray tell, how does sapura turned a profit of 189m? By selling some pubic hair?

9. If it is still considered to have made a profit, it must have done so through the able management of the CEO. Butot? So why fire him?

10. So the claim that sapura made 189m and the CEO got fired don't jive.

11. There's no economic rationale for saving sapura. In a free market private enterprise economy, the principle of profit and loss is important.

12. Indeed the loss part of the equation is more important. It's the part that ensures badly run and poorly managed companies are weeded out .

13. It's the Darwinian principle of economic selection. Who cares if you sebak dada seeing the fate of an incompetently run bumi company.

14. I am sorry, but there's no economic rationale for saving vendors either.

15. They did business with sapura on a voluntary basis. They analyse the risks and opportunity, gains and losses etc. No one forces them .

16. So now, how can they justify the use of public taxpayers money to save them?

17. The hard truth, is the only probable reason why sapura is bailed out, is because it's bumi owned. 18. Then the decision to bail out is race based not economic based .

19. There must have been pressures that the government cannot allow such an ending befall sapura.

20. These people say, sapura has brought fame to the country, showed melayu can semua boleh, so must help . Ignore the ownership structure, the incompetent management, the idiotic and careless investments, the joli katak ways etc. Must help maa.

21. So 'story' not so clever me . How come sapura made 189m but owes the government 1.1b? Unless that amount is not booked in as liability. Sapura regards it as free money and another personalized quantitative easing by the PM

22. Mr PM sir, bad economic decision. It's a judgement call at best

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Najib type of bailout v Anwar type of bailout. Tales by an unknown blogger no 72

1. Try as he may or carry out verbal acrobatics and semantics, the 1.1b extended to Sapura to pay off a phalanx of vendors, it's regarded as a bail out anyway.

2. Let's call it Anwarbailout, a particular product of anwarnomics. this is to differentiate it from najibbailout ,a product of najibnomics.

3. So , it's Anwarbailout v najibbailout.

4. The differentiation is necessary because the mad cow diseased UMNO youth chief, thanked Anwar for adopting Najibs proposal to bail out Sapura.

5. Wait a minute you landlubbers, there are differences between the Najibbailout and Anwarbailout, as we shall see later.

6. Anyway, no shame UMNO , ever the opportunist, will stake a claim for doing something of which it has no part at all .

7. As the Malay saying says, the milk is produced by the cow, the cattle gets the name .

8. The Najibbailout is a carte blanche for Sapura. Just give money and let Sapura does with the money any how it likes. Owners and management can even stuff the money in mattresses, pillow and bathtubs. Just don't forget to donate some to UMNO and some politicians individuals.

9. For Dr Mahathir, the man who can walk on water, bail out is an opportunity. An opportunity to put in his cronies in the target company and channel funds to it.

10. That's how UMNO and Malay supremacists understand what a bailout means. It's just a glorified income transfer. Not paying back pun tak apa. Malay owned companies are entitled to government largesse.

11. The Najib or Mahathir bailouts would have the same effect. It's business as usual as money comes easy.

12. The same enabling structure allowing rapaciousness, greed, reckless investments, profligate spending etc will still b there . What do you think will be the results?

13. The Najib type of bailouts will perpetuate business doomsday.

14. So anyone thanking Najib for pointing the way to his type of bailouts, deserved to be ostracized and deserve public opprobrium.

15. Knowing the measure of the man, the Anwar type of bailouts, would entail the following. At least, I hope they do .

16. The main difference is that under the Anwar type of bailout, the enabling structure that allowed the mess to happen to Sapura is dismantled.

17. I am not 100% sure the things I am about to say have taken place, but I sure hope they will happen.

18 . Carry out changes in the ownership of Sapura. Let new shareholders come in. Do away with the astronomical remuneration packages enjoyed now

19. The BOD must consists of people with excellent technical and business knowledge. They must be Malaysians not necessarily must be malays. We don't want a case an LCE graduate is a bod member so long as he is Malay.

20. Learning from the case of Sapura, there must be an oversight committee separate from the bod. It's to evaluate every big investments.

21. Certainly, the CEO must be removed and most of the management team be cashiered.

22. I am in favour of breaking up Sapura into 3 or 4 separate profit centres. Let them compete on the parameters, I mentioned in an earlier article.

23. Forget about sentimentalism when dealing with Sapura. The PM must adopt the attitude, I am not interested in preserving the status quo but am interested in overthrowing it.

24. You see, the Najib type of bailout preserves the enabling structure creating the mess Sapura is in while the Anwar type of bailout removes it. Big difference, towkay.

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Cleaning the Sapura Shit. Tales by an unknown blogger. No 71

1. These are the economic reasons why I think ,bailing out Sapura is wrong as a matter of principle .Nevermind, if it's camouflaged under the pretext of paying vendors. Almost all are bumis .

2. I am not going to wail about the PM pandering about bumi vendors or about helping Sapura vendors but what about Malay farmers?

3. These are not economics reasons but political score points. Only politicians do that. As one prominent person said, I am not interested in being politically correct, only correct.

4. These people are just mouthing Democratic party empathy , sentimentalism, cafeteria socialism, smoked salmon socialism etc.

5. We are tired of these self appointed social justice warriors behaving sanctimoniously, regarding themselves as the only ones who can speak about bumiputera. If other than them, the PM for example,he is just being opportunistic.

6. Our economy is a private enterprise economy. It's based on profit and loss principles. The loss part is more important. It's the principle that weeds out the incompetent, poorly managed and badly operated companies .

7. Government bail out prevents the self correcting principle of a market economy .

8. Have the bozo mcs officers at MOF and other departments actually think about the costs of bail outs?

9.sapura is a company probably founded on UMNO values. Get an exclusive license, monopoly, privileges and make as much profit as possible. Confound careful investment decisions. If fail, ajib gor or wak jahid can help ( when they were in power). Just spend, baby spend!

10. Being a creature created by private enterprise means, if it gets into a mess, use private enterprise solutions. Not public enterprise solutions. This is the incompatibility issue.

11. This is wrong number one . Sapura is a car running on petroleum products. Now it wants to switch using fresh or salt water.

12. If u mix water with petrol ,your engine will produce knocking sound and your engine will eventually koyak

13. If water is mixed with jet A1 fuel or aviation fuel, the water will freeze over a certain altitude. The plane crashes.

14. Later , the government bail out will crash down bringing with it, taxpayers money, sapura, the vendors and the government. They will never get repaid .

15. If I see the goons who advised the PM, I will circumcise them a 2nd time.

16. Long ago, when Anwar then was debating the issue and quite badly at that, I wrote articles opposing any form of bailouts.

17. I mentioned about profligate spending , reckless investments. Perhaps, there were some corruption elements in the joyful spending. Maybe the authorities need to investigate on the joli katak spendings no?

18. As fish rots in the head first, change sapura s ownership and replace most of its management team. They are the ones who caused the mess in sapura in the first place..

19. Now , we come to the thorny issue of the vendors. We must remember they made a conscious, deliberate and voluntary decision to do business with sapura. They knew of the risks and gains .

20. Having made the bed, they must now lay on it .

21. Sure our democratic party empathy, pompous caring for others, our LV and caviar socialist leanings make us pity them .

22. But the bugger who owes them is sapura. By helping to pay them, we are in effect bailing out sapura.

23. Now that pak sheikh has already decided to help them because of his kindness and sentimentalism, there's nothing we can do. Except I hope he will be mindful of what I have said.

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The Sapura bailout. Tales by an unknown blogger. No 70.

1. As details about the 1b bailout of Sapura comes slowly, I will come up with the appropriate response.

2. A bailout by any other name is a bailout . Saying it's for paying vendors, insults our intelligence.

3. Now, call me a neo classical dude, a Friedmanite, Austrian school Hayek stooge or just a pain in the ass confused economist, be my guest. Stepping in to save Sapura on account of saving vendors, is the government -saved jobs fallacy.

4. What it does is to prevent the efficient allocation of resources by rewarding poorly and badly managed company and punishing the good ones .

5. When the US government bailed out Chrysler, it didn't do it for lee iacoca ( cola,). No siree, it says that because it wants to save jobs and vendors.

6. The American consumers don't use or consume the parts supplied to Chrysler, the steering wheels, gears, door knobs, glass screens etc. in other words, consumers are asked to pay for things they don't need, on their own. If they can afford it, they buy completed cars assembled by Chrysler.

7. What happened to Sapura , happened to Chrysler in the 1970s. The government thought it's saving Chrysler by bailing it out. To cut the long story short, the US government didn't.

8. Similarly the Malaysian government is using the save jobs fallacy to bail out Sapura. It's doing it the wrong way.

9. The government should allow Sapura to fail because its poorly and badly run. Let new owners take over and run it well. Vendors can choose to do business with new owners. As to old owners take a class action against them.

10. Hey, our economy has been described as a free enterprise system, market economics.

11. The lynchpin of that system, is profit and loss. Not profit alone. Sometimes the loss part is more important as it endures poorly and badly run companies are weeded out. Like Sapura.

12. Success can be a bitch..if intervention in Sapura is successful, it might embolden policy makers intervening in other industries even when it's not warranted. Then night as well have businesses run by government officers

13. Bailouts would distort the market. By propping up an inefficient company, would encourage other companies to also behave irresponsibly knowing uncle non would be there to help.

14. By allowing unviable companies to fail, would be good for the market. It allows capital to flow to more productive uses.

15. Not holding that against Sapura, it's just business. Then, there is the moral hazards argument. Companies would take unnecessary risks knowing if they fail, some do gooders and special interest groups in the government will come helping .

16. I am not faulting Anwar for citing bumi matters. That's for politicians to do. I am just presenting cogent economic reasons. Although I am a politician, I am also interested in economic reasoning.

17. Playing the race game, is the favorite pastime of UMNO politicians and Malay supremacists. Hidup melayu!

18. We cannot reward the inefficient and punish the competent .

19. One final stupid question.. pardon my ignorance. If the 1b is for the vendors, register them. Pay them directly. Don't pay sapura.

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Saving sapura, the orang minyak. Tales by an unknown blogger no 69

1. I am speaking as an economist. The question I am asking is where is the economics logic behind the 1 billion bailout of sapura energy?

2. Thats taxpayers money being used to save an inefficiently run company.

3. Because it's innefficiently and incompetently run company, is the reason why it was making losses in the beginning.

4. And yes, before some jokers say, sapura must be saved because this is maruah melayu, let me a Malay say it first - this is the usual fate that inevitably befalls a company run by the yat yat yay race .

5. When the issue was being debated by Anwar then who wasn't yet the PM, I cited some reasons as to why sapura energy shouldn't be saved . 5(b). Unless the entire management is changed. The ownership is restructured. Workers employed in accordance to merits and efficiency.

6. We have only been told of the bailout. Information of the things mentioned in para 5, have not been answered.

7. Instead, there seems to be a triumphant celebration that a bumi company, incompetently run doesn't bite the dust .

8. If there's no change in ownership, management and employment structure, we are allowing the same bozos repeating the same mistakes.

9. There will be the same profligate spending, bad investments and wrong investment decisions, ignorance of socio economic environment, careless employment structure, incompetent CEO etc. it will be more of the same.

10. Anwar Ibrahim may have been ill advised by Tom Selleck the 2nd FM and the various special interest groups. The officers, friends, reformasi otais etc.

11. If there are no rational economics reasons for the bail out, there must be non economics reasons while eating pasembor, just like laffer who drew up the laffer curve on a serviette.

12. Let me, as a Malay, but not proud in saying it, the first reason must be misplaced sentimentalism

13. This company must be saved. Ini soal maruah melayu. Though it's not soal maruah, when they privatized the profits. In fact they don't give a shit about the plebeian Malays.

14. The ownership is Malay, the CEO Malay, the workers mostly malays. Takkan melayu khianat melayu. Wow, my hair stand on ends.

15. That's exactly UMNO thinking. Retain the same clowns so that they can repeat the same schemes of running things.

16. Hello, remember what pendita zaaba says. Almost always the people who oppress and suppress the malays, are leaders of their own kind.

17. If the government lends 1b at preferential interest rates, the loan must come with several conditions.

18. Change the ownership, change the management, change the workers profile. Change the bod. Bring in new blood. PKR, AMANAH and DAP corporate people. Don't bring umno people. Corruption and profiteering from positions is second nature to them. Put in an oversight committee to evaluate all spending decisions in a week . At the most

19. Here is the most revolutionary thing. Break up sapura into 3, 4 independent companies. Each runs as its own profits centre .

20. They will compete in terms of competency, on effeciency. Most of all, compete in terms of honesty . Very unmalay right?

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Debate of Cons.

1. After the nondescript and overhyped debate between alibabavum najib and mamu anwar, the latter was seen cutting up and dividing a cake. It could have been a huge vadai cake.

2. We didn't hear about the former CEO earning gargantuan remunerations of 70 to 90 m a year and gallivanting around in the companys private jet. Can we expect the suckers at seb to be prudent with our money? Mamu didn't mention these.

3. Nor did we hear about how Sapura caused pertronas to forfeit, USD 400m in Vietnam. Now, allow me to use an expletive. Having being fucked by sapura, petronas is now asked to nursemaid seb.

4. The imbecilic idea of using petronas to nursemaid sapura came from the ignoramus najib alibabavum razak. The idea was relished with gusto, by najibs thirudargalum and his internet dickheads who wrote his internet portals.

5. The dirty secret is out. So this is how the bn leaders treat our reserves and our money. To help companies belonging to cronies in distress. Confound them, especially najib alibabavum Razak.

6. Just so people know, reserves such as those in petronas or khazanah are to be applied for the development of states or public benefits. They are not to help out private companies belonging to cronies. Certainly not for umno.

7. Instead, people like ali babavum najib applies public money mindlessly, including bailing out crony companies and paying sycophants millions Of ringgit a month.

8. Ali babavum najib treats petronas as a willing willy, bowl cleaner and blind chinaman. But petronas which itself is very less sanguine, will be a stooge.

9. Unfortunately, the idiotic mamu anwar did not object vociferously to ali babavum najibs scandalous remarks. He could only retort with the lame but catch-all phrase, forensic accounting.

10. That too, we don't know what he meant by it. To do forensic accounting means to treat sapura with kid gloves. For it is obvios that sapura finds itself in dire straits is the result of its own weaknesses.

11. To even countenance a forensic accounting is belaboring the obvious. The market punishes the entity that makes mistakes. It weeds out the poorly managed company.

12. The rule of the market is clear. An inefficiently run company should be allowed to disintegrate.

13. Therefore, the proposal of doing a forensic auditing on sapura may sound intellectually formidable, but it's like bringing coal to Newcastle. The idea of putting preconditions as cause to help sapura will produce the same effect too-futile.

14. The point is, sapura, should not now use public money to stay afloat. When it enjoyed profits, did it care two hoots about the public? Did its shareholders care about the public?

15. The debate on sapura went off tangent, devolving into a discussion about the general management of the economy. Though important, it's not relevant.

16. How the debate went off-topic, is beyond many of us. But is not surprising because the debate is a debate between two nincompoopish convicts.

17. Like Rhett Buttler, in Gone With the Wind, said, I don't give a damn. I don't give a damn if the debate detour was started by ali babavum najib or chorused by mamu anwar, who knbows nuts about economics reasoning.

18. But what really surprises me is that the audience, comprising social and political luminaries and attended too by not a few kangkung proffesors, tolerated and acquiesce in the sham debate.

19. TV watchers waited impatiently for the debate, which turned out to be an anticlimax. It was just a debate between 2 convicts.

20. It's a debate between one fellow whose right hand doesn't know what his left hand is doing and another fellow who has a penchant of reading a few lines of a book but pretends as though he has read the whole book. Yet we called him the renaissance man.

21. One went to school and a university for thieves in the fish and chips imperialist country. The other, a product of the bourgeois and elitist MCGayGay. The outcome of the debate is predictable. It is just a debate between 2 latte liberals and members of the chattering class.

22. Reference to an enlarged cake and sharing it by ali babavum najib is unfortunate and misplaced. That it was said by Tun Razak doesn't make it sacrosanct. It was a stupid reference.

23. Mamu anwar responded meekly by saying, don't eat the cake alone. Of course, the pkr yahoo boys and girls treat that as a messianic remark.

24. Don't the two idiots know that the cake analogy has become a symbol of repression, insensitivity and injustice? Wasn't Mary Antoinette alleged to have said qi'ils mangent de la brioche?

25. When told that the people have no bread to eat, the queen was alleged to have said, let them eat cake.

26. But never to miss a chance for theatrics, after the dry debate anwar demonstrated his cake cutting skills. This is how najib divides the cake and this is how we divide it, said he. Needless to say, the pkr yahoo crowd volubly ululated him.

27. Ali babavum najib feigned indignance and incredulity that the ph goverment did not exhaustively investigate the forex scandal. Najib too did not. I am reminded of the maxim that one who comes into equity must come with clean hands.

28. To which sivaji the boss, anwar said emphatically that he won't compromise on any forms of corruption and abuses of power. Nahi nahi. Illai illai!

29. Except that when mamu anwar said it, he did it as though he's constipating. Which makes his assertion less believable.

30. Many of us are dismayed and dissappointed that mamu did not berate ali babavum najib, when the latter mention cash is king. That makes me suspect that anwar actually is a limousine liberal.

31. Eleven out of ten people know what najib meant. He means that all the people have a price and are buyable.

32. RM 200 for the people of melaka and johor. Perhaps more for the people of sarawak and sabah.

33. I am not denigrating my east malaysian brethren. But when i was in umno 1990-2011,east malaysian delegates would demand 1st class hotels and more than 200 pocket money. Res ipso loquitor.

34. There's nothing to shout about the debate. It went off-topic. Its sapura, idiots. While najib spoke like a brainless jock, condescending and patronising mamu was fluid, collegiate in the sense of treating you as equals and articulate. In terms of substance, both are wanting.

35. Anwar won only in terms of being more articulate. Itu saja.

36. To ali babavum najib and sivaji the boss anwar, I dedicate the following song.

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Sapura dan justifikasi ekonomi.

1. Mamu Anwar tidak bersedia untuk debat ini dalam erti kata a melepaskan apeluang untuk bertanya Najib mulut merah, hard questions ala Tim Sebastian.

2. Dahlah mamak padukang ni mempunyai kelemahan semula jadi dalam ilmu ekonomi,teryata dia tidak manfaatkan nasihat orang2 seperti rafizi ramli. Saya tak dengarpun mengenai gaji ceo seb sebanyak lebih rm900 juta setahun.

3. Saya nak habaq kamu semua. Najib beri dia bola lambung dia dak beri libais line clear. Bahlool punya mamak. Buat malu ceruk tok kun, habiak.

4. Brader anwar kasi kita beratoq buat apa. Najib kata sapura beri pelaburan dan kerja. Sapura syarikat cari gali ke2 terbesar dalam dunia. Sapura milik rakyat.
Ngapa hang tak libais brader.

5. Kenyataan najib mengenai cash is king dan petronas dijadikan pak sanggup, dibiarkan saja. Binawe betul. Apa jadi mamu anwar?

6. Jika SEB maha bagus, kenapa ia mengalami kerugian? Soalan asas ini tidak ditanyai mamu anwar. Najib dibiarkan begitu saja tanpa di minta menerangkan mengapa seb rugi. Kenapa wok?

7. Kegagalan mamak padukang/padukong ini menanyakan soalan maut ini, boleh suggests bahawa Anwar sebetulnya, bersekongkol dengan Najib mulut merah.jangan tanya soalan yang membodohkan kawan tu.

8. Hang lembab ka atau bengap dalam bidang ni? Macam lagu ni,kami boleh percaya pada hang untuk tadbir negara ini? Mai kita boria lagi baik. Maaf ya kak wan.

9. Najib kata seb rugi sebab harga crude oil merudum. Oghang pekan kate kepala bapak aok! oghang penang kata buah peliak hang.

10. Syarikat2 cari gali lain seperti petronas, shell, esso, bp, slumberger malah syarikat milik itali yang terbesar pun, berdepan dengan harga crude yang merudum. Tapi mereka tidak menadah dengan tempurung mohon diselamatkan oleh kerajaan. Ke guane?

11. Sebab syarikat2 ini mempunyai perkara2 ini dalam budaya pengurusan mereka:- Kepimpinan yang baik, perbelanjaan yang terkawal, pelaburan yang teliti ,memastikan kos tidak melebihi pulangan dan hasil, lembaga pengarah yang peka dan kaki tangan yang cekap dan mempunyai skill sets yang dikehendaki.

12. Maka secara deduksi nya,perkara2 atau nilai2 ini, kurang atau tidak ada dalam budaya pengurusan seb. Sebab itu ia rugi. Bukan sebab harga crude. Wabe aok!

13. Sayangnya,mamu Anwar tak amplify perkara2 ini. Mungkin sebab brader kita tak tahu. Dia tak baca prospektus seb. Maklum saja,dia lebih suka membaca hikayat-hikayat merong mahawangsa,hikayat laila majnun ,Paulo freire,Ivan Illich,Franz Fanon dll. Soal2 dry economics ni,tak berahi dia.

14. Kita tidak suka dengan istilah forensic auditing sebab ia terma tangkap semua atau catch all. Jangan hang rasa selamat dengan istilah forensic auditing no...

15. Kita nak audit yang spesifik. Ada leadership audit, bod audit, management audit, staff audit, operations audit, investments audit, spending audit-the whole shebang. Menyebut forensik audit sebagai istilah tangkap semua tak pekai, chombi.

16. Dalam debat sepenting in,kita kena spesifik,tak boleh cakap konsep vague je.

17. Mamu anwar lepas peluang bertanya najib untuk apa kita membiayai seb?

18. Kita bukan membayar untuk goods and services kita perlu. Kebanyakan rakyat tidak mempunyai pun kenderaan yang menggunakan bahan api.

19. Malah kita dipaksa secara tidak sedar,membiayai serta mengongkosi kesilapan besar seb dan kelemahan2 seb.

20. Itu bererti reward system kita salah. Kita mengimbuhi excellence bukan mediocrity seperti di tunjuk oleh seb.

21. Saya akan menjadi lebih yakin jika mamu anwar needles najib mengenai kepimpinan, bod, pengurusan, belanja berhemah, pelaburan teliti dan seumpanya.

22. Seperti dalam iklan Wendy, macam Clara Peller,saya bertanya where's the beef, brader?

23. Dengan menyebut forensic auditing secara ad nauseum,tidak mencerahkan persoalan. Saya rasa mamu anwar lembab dalam bab ini. Huraian forensic auditing dilakukan penyokong2 Anwar post debat. That dont count pada saya.

24. The only redeeming featurea, ialah Anwar menyebelahi pihak yang benar iaitu rakyat. Jika rakyat tidak tahu siapa pemimpin yang menyebelahi mereka, entah lah. Najib bukan berpihak kepada mereka.

25. Sudah terang dan nyata, najib menyebelahi pihak cigar chomping dan caviar eating capitalist. Sebab itu dia hendak bantu seb. Itu should be clear kepada rakyat jelata. Najib bukan dipihak mereka.

26. Penggunaan istilah rakyat oleh Ali 'babavum' Najib Razak, mengelirukan. Dia kata seb milik rakyat. Orang Pekan cakap kepala bapok aok.

27. Istilah rakyat oleh Ali babavum Najib, sepatutnya menjadi red flag untuk mamu Anwar membalun Najib. Tapi yilek. Tongong juga mamat tu.

28. Rakyat Najib adalah mereka yang berduit. Yakni 10 juta orang pembeli saham seb bernilai rm4 billion melalui asb. Yakni golongan bourgeois. Najib jurubicara klas ini.

29. Maka seb bukanlah milik 'rakyat'. Ia nya satu lagi pembohongan ali babavum najib. Berbohong adalah keperangaian kedua, second nature kepada matlaon ini.

30. Pemilik sebenar seb adalah 10juta pemegang saham seb yang akan mengalami kerugian rm300 lebih seorang. Jumlah wang yang gampang langsai melalui makan barang2 di lafite restaurant di Shangri-la atau makan seafood di south sea subang saja.

31. Pemilik seb, iaitu putera2 dari bumiputera, tidak ada kena mengena dengan rakyat jelata, yakni bumiputera bukan pemilik, cina dan india. 10 juta hanya 33% peratus jumlah rakyat Malaysia.

32. Maka yang demikian seb bukalah milik rakyat. Ia adalah milik putera2 dan melayu terpilih.

33. Saya heran the idiotic mamu anwar tidak membalun najib tentang hal ini. Insan yang terkenal dengan anak cina, india, iban anak saya.

34. Mudah2an 'rakyat' yang dimaksudkan mamu anwar terdiri dari rakyat biasa. Jika tidak penggunaan istilah rakyat oleh anwar adalah rakyat itu hanya verbal rhetoric dan rakyat hanya digits saja.

35. Guna pakai istilah 'rakyat' oleh Anwar mesti jelas. Ini untuk mengelak kita melihat Anwar hanya sebagai latte liberal dan smoked salmon socialist. Kassim Ahmad misalnya, tidak pernah percaya kepada bourgeois Anwar.

36. Dari segi isi,Anwar sama2 tongong macam Najib, kepala lanun itu. Anwar hanya menggerhanai Najib dari segi kepetahan bercakap saja. Anwar is long in form but dismally short in substance.

37. Najib ni ada penyakit satu sen duit kerajaan . Dalam kes 1MDB dia kata tak guna 1 sen duit kerajaan. Dia mengulangi bohong ini dengan mengatakan menyelamatkan sebx tidak akan guna 1sen duit kerajaan tapi duit petronas.

38. Saya heran mengapa point ini tidak di robek2 oleh Anwar. Dia tidak tahu atau dia sama2 mekngong?

39. Petronas itu milik siapa? Dan adakah itu fungsi petronas?. Pencuci mangkuk dan cina buta setelah seb diperkosa oleh ceo nya dan bod nya? Cibai.

40. Reseb petronas bukan untuk tolong syarikat2 kroni yang nazak. Jika begitu bantulah mas, brahims,china automarive parts,barakah dsb nya.

41. Pekung pemimpin umno terbongkar dek mulut ikan keli najib. Reseb kerajan melalui mana2 glc secara umumnya- petronas, maybank, khazanah, sime darby dll digunakan untuk menyelamatkan syarikat nazak kepunyaan kroni.

42. Reseb petronas bukan duit umno yang boleh diperlakukan sesuka hati ali babavum najib razak. Duit petronas bermaksud mendanai pembangunan negeri2 seperti yang difikirkan oleh tun razak.

43. Bahkan reseb petronas misalnya, tidak semestinya hanya untuk negeri2 yang ada reseb minyak saja, tapi untuk satu malaysia. Ini kerana PDA digubal untuk 1 Malaysia.

44. Perkara ini tidak dibahaskan oleh the idiotic Anwar. Kecetekan nya ditutupi dengan ungkapan istilah forensic accounting. Dan kita dibawa bersiar2 dengan frolic anwar mengenai agihan kek vadai anwar.

45. Kalau dia membaca lapuran tahunan seb, dia tentu dapat membahas kegoblokan seb dengan lebih meyakinkan.

46. Saya telah membahas perkara2 ini dalam artikel BI saya. Kemalasan mamu anwar membaca lapuran seb menyebabkan dia menangani isu sapura secara cavalier.

47. Minta maaflah cakap, anwar menang dari segi kepetahan bercakap, ketegasan pendirian nya mengenai rasuah misalnya dan intonasi suara. Semua ini bukan nya penghujjahan tapi hanya bunga2 hiasan saja. Bercakap untuk diri saya, 'i am not impressed'.

48. Perkara pokok, yakni sapura sedikit saja disentuh. Ini meyakinkan saya, anwar hanyalah seorang latte liberal dan smoked salmon socialist yang berpura pura prorakyat tapi sebenarnya seorang comprador capitalist.

49. Akhirul kalam, saya nyatakan untuk kesekian kali, tidak ada lansung justifikasi ekonomi untuk menyelamatkan sapura. Biarkan ia kojol.

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Pasaran Bebas Dan Sapura Energy. Bahagian 1/2.

1. Banduan2 nak berdebat mengenai sapura biaq pi lah. Saya memang kurang tertarik dengan banyak cakap dan cirit birit verbal. Itu pilihan peribadi saya. Saya tidak ada masaalah jika ramai pembaca budiman terpukau dengan debat segala. Racun pada saya,daging kepada orang lain.

2. Prejudis saya terhadap perdebatan,tetap kekal. Ia nya 'tricky'. Kita mudah terpukau dengan verbal gymnastics dan verbal acrobatics. Kita mudah tertaik dengan histrionics dan theatrics.

3. Manakala penulisan lebih teratur, tersusun dan rapi. Penhujahhan nya boleh dinilai berkali kali. Yang permanent lebih baik dari yang ephemeral.

4. Maka pada pendapat saya,kita sebenarnya meraikan perdebatan antara dua banduan. This tells a lot about the sad race.

5. Bangsa Melayu yang tidak ada harga diri,menutup mata terhadap kemungkaran, meraikan beberapa jam keserenokan debat diatas pentas. Yahoo.

6. Sesiapa nak validate kemungkaran olrh dua banduan,silakan lah. Misalnya umsu nak anjurkan debat itu silakan. Kita bukan tak tahu organisasi tersebut ada ramai betina dan lelaki tak sabar join the bourgeois class.

7. The above out of my chest,mari kita bincang topik asal. Penggunaan wang rakyat untuk menyelamatkan seteru pasaran bebas, sapura energy.

8. The econonomics behind the issue,dilupakan. Kita gantinya dengan melodramatics. Banduan liwat lwn lanun bugis. The sodomist vs the bugis buccaneer.

9. Kita sepatutnya biarkan seteru market economics seperti sapura untuk gagal. Pada tahun 202, ia rugi hampir 9bilion.

10. Mengapa saya kata seteru? Sapura mahukan semua perniagaan atau bisness bebas melakukan apa saja. Tapi bila datang ke bisness nya sendiri,apa2 keistewaan yang ia dapat hanya untuk ia saja. Makna nya ia mahu kebebasan umum tapi yang spesial untuk ia saja.

11. Jadi ia mahu special tax holidays, tax concessions, soft loan dan bila bermasaalah, kerajaan bantu. Bisnes lain biar kaput. Binawe punya syarikat!

12. Apa kita buat pada seteru?kita bunuh atau biarkan dia mampus!

13. Sistem ekonomi kita wok dahling,adalah sistem untung dan rugi tapi selalu disebut profit system je.

14. Bab rugi tu sama penting atau lebih penting dari bab untung. Ia nya lah yang mengenyahkan kita dari the weak, the incompetent, dari dedalu, pacat dan lintah yang betenggek.

15. Sapura ialah lintah yang dah gemuk mebghisap darah kita. Biar dia jatuh. Kalau kita menyelajmatkan nya, ia akan terus nenghisap kita sehingga pucat lesi.

16. Maka sebagai peraturan tetap, jangan guna duit rakyat tolong sapura. Kita biarkan ia gagal. Ia bagus untuk kesihatan sistem free trade kita.

17. Jangan bantu syarikat2 seperti mas, air asia, asia x, barakah, brahim china automative parts dll. Biar mereka gagal. Untuk kesihatan sistem free market kita.

18. Dalam kes sapura, kita disuruh bayar untuk goods or services kita bukan nak tapi bayar untuk mistakes yang dilakukan oleh incompetent fools di sapura.

19. Untung sapura sapu, kos di tanggung oleh kita. Itu macam kah?

20. Cerita sapura muncul kedepan, bila bossku Najib 'John Gotti' Razak mecadangkan sapura harus dibantu dengan suntikan dana awam. Bila dia sebut saya tersentak dan mendapat epiphany.

21. Bila Najib bercakap mengenai saapura kita mesti waspada. Kita pasti tahu bahawa penceritaan mengenai sapura akan penuh dengan spin dan pembohongan.

22. For 'baby face'' Najib is a congenital liar. Bukankah dia menyatakann dalam satu interview, bahawa cincin usd23 juta adalah hadiah seorang putera uae? Jadi mengapa mahu percaya spin nya mengenai sapura? Mana dia ada credebility dan integreti?

23. Klentong najib mengundang saya berpantun:-
One two three four
Satu dua tiga empat
Rosmah mansor cincin besor
Rakyat jelata apa dapat

One two three four
Satu dua tiga empat
Najib razak belanja besor
Rakyat jelata hidup merempat.
Saya mendapat ilham dari pantun hashim gera.

24. Biarkan hukum pasaran bebas menentukan nasib sapura. Apa nak buat, dah nasib.

25. Pasaran bebas yang impersonal akan melakukan ini:-
A. Mengenyahkan yang belanja sakan.
B. Memaksa pemegang ekwiti menjual share mereka.
C. Mengenyahkan pengurusan yang imcompetent.
D. Jika sapura meminjam besar dari bank2,bank2 foreclose saja.
Biarkan pemilik2 baru menentukan hala tuju sapura.

Satu ulangan

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Pasaran Bebas Dan Sapura Energy. Bahagian 1/2.

1. Banduan2 nak berdebat mengenai sapura biaq pi lah. Saya memang kurang tertarik dengan banyak cakap dan cirit birit verbal. Itu pilihan peribadi saya. Saya tidak ada masaalah jika ramai pembaca budiman terpukau dengan debat segala. Racun pada saya,daging kepada orang lain.

2. Prejudis saya terhadap perdebatan,tetap kekal. Ia nya 'tricky'. Kita mudah terpukau dengan verbal gymnastics dan verbal acrobatics. Kita mudah tertaik dengan histrionics dan theatrics.

3. Manakala penulisan lebih teratur, tersusun dan rapi. Penhujahhan nya boleh dinilai berkali kali. Yang permanent lebih baik dari yang ephemeral.

4. Maka pada pendapat saya,kita sebenarnya meraikan perdebatan antara dua banduan. This tells a lot about the sad race.

5. Bangsa Melayu yang tidak ada harga diri,menutup mata terhadap kemungkaran, meraikan beberapa jam keserenokan debat diatas pentas. Yahoo.

6. Sesiapa nak validate kemungkaran olrh dua banduan,silakan lah. Misalnya umsu nak anjurkan debat itu silakan. Kita bukan tak tahu organisasi tersebut ada ramai betina dan lelaki tak sabar join the bourgeois class.

7. The above out of my chest,mari kita bincang topik asal. Penggunaan wang rakyat untuk menyelamatkan seteru pasaran bebas, sapura energy.

8. The econonomics behind the issue,dilupakan. Kita gantinya dengan melodramatics. Banduan liwat lwn lanun bugis. The sodomist vs the bugis buccaneer.

9. Kita sepatutnya biarkan seteru market economics seperti sapura untuk gagal. Pada tahun 202, ia rugi hampir 9bilion.

10. Mengapa saya kata seteru? Sapura mahukan semua perniagaan atau bisness bebas melakukan apa saja. Tapi bila datang ke bisness nya sendiri,apa2 keistewaan yang ia dapat hanya untuk ia saja. Makna nya ia mahu kebebasan umum tapi yang spesial untuk ia saja.

11. Jadi ia mahu special tax holidays, tax concessions, soft loan dan bila bermasaalah, kerajaan bantu. Bisnes lain biar kaput. Binawe punya syarikat!

12. Apa kita buat pada seteru?kita bunuh atau biarkan dia mampus!

13. Sistem ekonomi kita wok dahling,adalah sistem untung dan rugi tapi selalu disebut profit system je.

14. Bab rugi tu sama penting atau lebih penting dari bab untung. Ia nya lah yang mengenyahkan kita dari the weak, the incompetent, dari dedalu, pacat dan lintah yang betenggek.

15. Sapura ialah lintah yang dah gemuk mebghisap darah kita. Biar dia jatuh. Kalau kita menyelajmatkan nya, ia akan terus nenghisap kita sehingga pucat lesi.

16. Maka sebagai peraturan tetap, jangan guna duit rakyat tolong sapura. Kita biarkan ia gagal. Ia bagus untuk kesihatan sistem free trade kita.

17. Jangan bantu syarikat2 seperti mas, air asia, asia x, barakah, brahim china automative parts dll. Biar mereka gagal. Untuk kesihatan sistem free market kita.

18. Dalam kes sapura, kita disuruh bayar untuk goods or services kita bukan nak tapi bayar untuk mistakes yang dilakukan oleh incompetent fools di sapura.

19. Untung sapura sapu, kos di tanggung oleh kita. Itu macam kah?

20. Cerita sapura muncul kedepan, bila bossku Najib 'John Gotti' Razak mecadangkan sapura harus dibantu dengan suntikan dana awam. Bila dia sebut saya tersentak dan mendapat epiphany.

21. Bila Najib bercakap mengenai saapura kita mesti waspada. Kita pasti tahu bahawa penceritaan mengenai sapura akan penuh dengan spin dan pembohongan.

22. For 'baby face'' Najib is a congenital liar. Bukankah dia menyatakann dalam satu interview, bahawa cincin usd23 juta adalah hadiah seorang putera uae? Jadi mengapa mahu percaya spin nya mengenai sapura? Mana dia ada credebility dan integreti?

23. Klentong najib mengundang saya berpantun:-


One two three four
Satu dua tiga empat
Rosmah mansor cincin besor
Rakyat jelata apa dapat

One two three four
Satu dua tiga empat
Najib razak belanja besor
Rakyat jelata hidup merempat.
Saya mendapat ilham dari pantun hashim gera.

24. Biarkan hukum pasaran bebas menentukan nasib sapura. Apa nak buat, dah nasib.

25. Pasaran bebas yang impersonal akan melakukan ini:-
A. Mengenyahkan yang belanja sakan.
B. Memaksa pemegang ekwiti menjual share mereka.
C. Mengenyahkan pengurusan yang imcompetent.
D. Jika sapura meminjam besar dari bank2,bank2 foreclose saja.
Biarkan pemilik2 baru menentukan hala tuju sapura.

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Bailism is najibnomics's answer. Part 2/2

1. Let's not be sentimental about sapura. 

2. Even though it's run by mothereffers like shahril shamsuddin or anuar taib.

3. It's not as though the world revolves around them. Or without them at the helm, sapura wilts.

4. The issues at sapura maybe:-

• It's a poorly managed company
• Badly operated company
• Profligate spending
• The management, especially Shahrir and anuar are just paper tigers.

5. If we use taxpayers money to bail them out, as suggested by najib the liar, the same mothereffers will stay at sapura and repeat the same mistakes.

6. Anuar Taib must be a real dumbass for using the numerous workers at sapura as an excuse to justify resuscitating financial bailout of sapura.

7. When PH takes over the government, do they change the police, the army or the civil service? No!

8. Similarly, if another group of managerial talent or equity holders take over,10000 employees are not going to be terminated. The laggards, the unproductive, the corrupt though must exit sapura.

9. So, don't use the fate of 10,000 workers as the excuse as to why taxpayers money must save sapura.

10. It's not as if sapura energy will go up in smoke if the leaders of sapura are expunged. Other managerial talent and equity holders can come in.

11. We must be ready to assume that the problems at sapura are caused by poor management, bad operation, profligate spending, incompetencies etc.

12. There are tell-tale signs about these. Ignoring them are signs of incompetence, and asking for public money borders on criminality. It's blackmailing the public.

13. Out of 10 quarters, sapura incurred 7 quarters of losses. Its market capitalisation shrunk by over 90%.

14. Yet the remuneration of its ceo-then, shrunk from over 84million pcm to 71 m pcm. We can't expect management and staff to do more, can we?

15. The reduction in market capitalisation is a reflection of poor management. The market knows the true value of sapura which value may have been artificially inflated. The 'sticky' downward movement in remuneration is a reflection of bad leadership and operational deficiency.

16. It's also a sign that self-interest and self aggrandization supersedes the company interest.

17. As one of the smartest businessman in Malaysia says, let the free market decide the fate of sapura.

18. Free means the absence of coercion and force on another person. In order to save sapura you have to rob the public.

19. Now, that represents force and coercion on taxpayers. Coming from bossku that's no surprise. It's second nature to the man. He finds support from thieving-minded persons such as Mat Over. Maybe from eating too much belacang.

20. Know that he's doing a reverse ro, Robin Hood strategy. Rob the poor to help the rich.

21. The market will deal with the anomalies in several ways. The existing equity owners can sell off their equities. At distressed price, of course. Shahril bought his equity from Renong. So selling off is normal.

22. The market will also smooth out incompetent and wasteful management. If they were paid gargantuan remuneration but produced spurious results, they will have no objections of being off-loaded.

23. If sapura had borrowed heavily, lenders will do the natural thing-foreclose the company. New owners and mangement will rebuild the company. That's the law of the market.

24. I find it nauseating when some publications wrote adoringly and in adulatory terms, about Anuar Taib's skills being honed in at shell.

25. So what? That was in the past. He leveraged on the accumulated and collective wisdom of Shell. He couldn't rely on that at Sapura. That's why he cannot produce results. He should be given the sack instead of beind paid saliva drooling income.

26. According to the cock-and-bull story as spun by sapura in its voluminous brochure, there are several reasons for the sickness at sapura. All not believable!

27. First, is foreseeable losses. Second, costs being larger than profits. Third, according to whizz Anuar, sapura is entering foreign markets it does not understand.

28. Am I reading these right? If losses are foreseeable, why do the businesses? If the costs are larger than profits, why do them? Unless of course doing them permits unchecked spending which in turn allows skimming off the milk?

29. What's stopping sapura from employing experts in market segments such that local knowlge about foreign makets is acquired?

30. There are therefore no rational economic reasons to justify government intervention justifying usage of taxpayers money
None whatsoever.

31. Using taxpayer's money, or simply other people's money, is based on a fallacy dreamt of by people like bossku.

32. In order to use other people's money, you have to take it away from them first. That involves force and coercion, masqueraded as government fiat.

33. That's what you get in believing that government or big brother in putrajaya, always looked at people's interest first, which is not the case. They looked after sapura's.

34. We are treated like the ward that must be looked after by the government offiicials and the government. In reality, it's the errant government which must be looked after.

35. The other mistake is believing that we spend opm as careful as we spend our own money. So giving sapura taxpayers money is like giving flowers to monkeys. Please stop monkeying around.

36. Then don't humour us by differentiating between glcs and sapura. Its already a mistake spending taxpayer's money on glcs, what more on a private enterprise like sapura. Ok, let's see the results of injecting taxpayers money on glcs. Let's have an audit on the gls we gave money to. Ada berani?

37. Now, let me address an oft repeated non-economic reason used by people like najib and the bully boy from Pasir Salak. It's also used incessantly by delegates who spew their verbal diarrhoea at PAU. Its BUMIPUTERAISM

38. We must help sapura bellowed najib and the pasir salak neanderthal. Sapura is a bumiputera company.

39. That's the erroneous result of the nep and its ridiculous endings. The basic idea behind the nep was not to make every tom, dick and harry malay well off. It was to make the malay who responded appropriately to the challenge, better off.

40. That's the challenge and response hypotheses of Huttington.

41. We are nauseatingly tired of the over usage of the term bumiputera. Its the puteras of the politicians, elite and the bourgeoisie who are in front grabbing all the riches. The bumis are left behind, clutching their dicks. Putera is infront of bumi, always.

42. The chinese muslim scholar redhuan Tee, said you can never rely on the malays to effect political change.

43. He's slightly wrong there. It should be- You can't rely on the umno malays and the celestial pas warlords to effect political chage. They liked being made stupid and victimised. They derived sextisfaction.

44. It's up to the rest of us-non umno malays chinese and indians and other malaysians to censure big brother. Let's not take the sapura crap.

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