Looking out for the New Economic Model.

Like the lady in the burger commercial, I am also asking 'where's the beef?' Thus far, I have seen nothing analytical about the NEM to be announced in 2 stages. No leader from this administration has given an extended account beyond reassuring that Malays will not be marginalized.

Ibrahim Ali said that as much when he stated that the Malays have been marginalized. These plans in the end become nothing more than grandiose and elaborate sting operations to enrich a small group of Malaysians. Or perhaps it's better to call them comprador Malaysians comprising of Malays, Chinese and Indian Malaysians working together to fleece the country.

What are the mechanisms to place Malaysia on a fast track to a high income economy? One that will see a per capita GDP of USD15, 000? Will the flag bearers for the new economic battle-cry be the GLCs- most of which failed to deliver the results? Will  they be some other complex economic outfits? The previous administration had these various economic corridors which were supposed to open doors for economic boom. We haven't seen the boom yet other than hearing some people made tons of money because now they had reasons and excuses to justify allotting public money into some ventures.

Look at the Corridors? They are starting to appear as nothing much other than just another excuse of skimming the milk. Money that could have gone direct to economic actors is forced to filter through some organisations, allowing in the end, a smaller amount to pass through. You know- the same effect a few years back when UMNO backed construction conglomerates announcing they made 250 million in year X. Well, they should have made 350 million had what was actually direct government transfer money  did not have to go through filtration and therefore pinching by a layer of dubious construction companies. The 'profit' was actually just transfer money the government wanted to hand over the Bumiputera construction conglomerate to allow it to proclaim a Bumiputera economic success.

One recent tender exercise by ECER to build a RM250 million water supply facility in Panching Kuantan virtually excluded the Malay contractors from Pahang. The ECER tender outfit demanded a list of criteria and prequalification that actually reserved the tender participation to public listed companies which are already controlled by the Chinese Hongs with Malay window-dressers as chairmen or something. Economic Corridors? Just another grand name for a con job fleecing the country by proponents of neoNEP.