The title is an oxymoron. But strange things can happen in the Jungle of Politics.
When he took over office last year, PM Najib came out with a slew of reformist sounding ideas. I use the term 'sounding' because, the intention still requires substantiation. One of them is raising revenues for the government through the sale of government owned land. It was supposed to be done through open tenders.
A few familiar named locations were mentioned- the RRI land in Sungai Buloh, the Army Airport land in Sungai Besi, the KTM lands, and others. These will be sold through open bids intoned the PM.
But let's take a step further. The government can plan what type of development it wants, down to the features, elements it wants to be incorporated. The image it wants to create. So instead of offering land simpliciter, it should offer packaged deals to be bidden. Don't leave it to the vagaries of rapacious businessmen. These buggers may even want to sell the land to 3rd parties upon getting approval. Especially those who have somehow managed to skirt round the declared open biddings.
That would mean a better open bidding strategy. The government draws up a complete plan, puts in details into the plan right up to the design, density, nature of development. Then the government invites bids from private companies though the open market. The government offers a complete package which bidders carry out accordingly. In that way, the government controls the flavor of the development.
We are now wondering whether things have really changed according to the Najib declarations. The Sungai Buloh land belonging to RRI will be developed by EPF. Now- if the EPF is already chosen, where is the open tender exercise?
The latest on the blocks – and the offer appears to be shrouded in mystery is the re-development of the Old Air Force airport in Sungai Besi. It is rumored that the land is offered to a consortium led by One Malaysia Development Bhd, LTAT and an investment arm of the Qatar government.
One Malaysia Development Bhd is owned by One Malaysia development Fund, the successor of the Terengganu Sovereign Wealth Fund (?). Does that mean that earnings going to the Terengganu Sovereign Fund/One Malaysia Development Fund will be applied to property development here in Kuala Lumpur? That will mean, that the fund intended to develop and prosper the recipient of the oil royalty which is Terengganu directly, will just be applied to a portfolio investment. This raises the question, who is advising the One Malaysia Development Fund. Are they the young boys running around with Taek Jho Low who is pressuring One Malaysia Development directors to follow their leads?
LTAT is the only component belonging to the government. The investment arm of the Qatar government is probably talked into coming in by that young Chinaman, Taek Jho Low who gave Datin Sri Rosmah a gala of a party in New York last year.
If this is true, it will certainly raise some very tough questions. Why should any of the government linked company ( LTAT) belongs to the Armed Forces -get involved in this deal? That would suggest the consortium needed a friendly party to government as a softener, to secure this project. If any company that is related to the government even remotely is taken into the consortium, than its bids stands as a conflict of interest.
How can the government decide fairly when one of it sown is making the bid?
So, the LTAT should withdraw itself from this consortium. That would leave One Malaysia Development Berhad whose shareholder I believe is the Terengganu government. I am asking the more intrepid readers of this blog to verify this. The Qatarian government's investment arm is obviously brokered by the Taek Jho low- the super rich kid which the Malaysian press and groveling-at-the feet- analysts readily confer extraordinary business acumen to. Yes, it's the same young man, who 'thought' of the Terengganu Sovereign Fund which later became One Malaysia Development Fund.
It is also rumored that this same consortium, instead of developing the land directly will be looking for parties with deep pockets to buy the 'project' from them.
It leaves us wondering, that despite all those declarations about reformist ideas done with much fanfare, have things really changed in this country of ours?
'Legal & regulatory risk
ReplyDeleteDuring the long tenure of the former prime minister, Dr Mahathir Mohamad, the independence of the judiciary was often brought into question. This was evident in the conduct of politically sensitive law suits, but also in business litigation when it touched on government policy or interests. The previous prime minister, Abdullah Badawi, had promised a more open and accountable society, and pledged that major public contracts would go to open tender—although the success of this policy has been questioned by the opposition. The risk that the government will expropriate foreign businesses is small. Litigation can be subject to long delays. The government displays a genuine desire to promote competition, but this is not always reflected in political reality, where favouritism continues—and Najib Razak, Mr Abdullah's successor, will find it difficult to do away with cronyism. Private property rights are generally well protected, although protection of intellectual property rights is not comprehensive.'
(EIU Malaysia Risk 12 April 2010)
'Najib also said the open tender concept was the principle of his administration to wipe out corruption in the civil service and to restore public confidence in the government.'
(Bernama 20 April 2009)
'Pokok Sena MP Datuk Mahfuz Omar said there was no mention of the 9MP projects to be awarded through open tender and hoped that projects would not be implemented through direct negotiation to avoid corruption and cronysm.'
(Bernama 26 June 2008)
'Consider the North-South Highway toll project, which runs through peninsular Malaysia.
This was originally awarded at a cost of RM3.4 billion (S$1.5 billion) by the government of former premier Mahathir Mohamad to a company directly linked to the ruling United Malays National Organisation without any open tender. The highway contract to United Engineers Malaysia Berhad became a magnet for controversy because rampant mismanagement resulted in massive cost overruns that pushed the price tag of the highway to almost RM8 billion.
There have also been financial fiascos during Prime Minister Abdullah Badawi's four-year rule. His government was forced to bail out an industrial estate project close to the country's premier port outside Kuala Lumpur because the company, linked to several government politicians, was on the brink of bankruptcy.
'Clearly this message seems to resonate with the voters, and the BN will need to change and become more transparent if it is to win back support in the next elections,' says Professor Shamsul Amri Baharuddin of the National University of Malaysia.
Analysts say it also makes for sound economics.'
(ST 26 April 2008)
'Already, the opposition Democratic Action Party, which won the industrial heartland state of Penang, says it will use its new clout to push for a reform that foreign investors have long demanded: the awarding of government contracts by open tender. '
(Reuters 9 March 2008)
'Competitive bidding still not the norm despite Abdullah's pledge
KUALA Lumpur's apparent spurning of competitive bidding practices for government-funded projects is fast becoming an issue in Malaysia.
In the process, it has spotlighted the divide between Prime Minister Abdullah Ahmad Badawi's rhetoric and the actual reality on the ground.
Competitive bidding for government contracts was part of a new policy agenda outlined by Mr Abdullah in January 2004, two months after he assumed power from a freshly retired Mahathir Mohamad.
Indeed, Mr Abdullah then told Malaysian business leaders that Kuala Lumpur needed to make the contract-awarding process 'transparent, with open tendering the norm'.
2
ReplyDeleteThe apparent shift in tack was welcomed by the business community as it marked a departure from the often opaque practice of 'negotiating' contracts that was a hallmark of Dr Mahathir's 22-year tenure.
Such contracts were often blamed by business analysts and opposition political parties for encouraging political patronage and bloated contract bids.
Three years later, questions are being asked about Mr Abdullah's promise. On Tuesday, for example, opposition lawmaker Lim Kit Siang furiously blasted Yoong Khoon Seng, the Parliamentary Secretary of the Works Ministry for being unable to answer his questions on a proposal to build a new RM400 million (S$170.6 million) palace for Malaysia's King in downtown Kuala Lumpur.
The contract for the project had reportedly been awarded to Maya Maju, a little known private contractor without an open tender being called.
Mr Yoong seemed unable to answer Mr Lim who demanded to know the reasons why the company obtained the contract and whether the contract conflicted with Mr Abdullah's promise not to engage in 'prestige' projects. The official finally promised to give Mr Lim a written answer.
'He was left high and dry,' Mr Lim told BT. 'The Prime Minister promised to walk the talk. I only hear the talking, where's the walk?'
In many ways, the questioning of Mr Abdullah's policies reflect the frustration among many Malaysians over the expectations he raised after coming into office with a style and approach notably gentler than his hard charging and combative predecessor. It was the main reason why he won the largest electoral mandate in Malaysian history in the 2004 general elections. But the increasing scepticism by which he is viewed should worry his allies.
Indeed, Mr Lim is not alone in his questioning as many businessmen share his views. They point to the country's RM280 million low-cost carrier terminal off the Kuala Lumpur International Airport that was awarded to a listed company without calling for competitive bids.
Meanwhile, the RM2-3 billion second bridge linking Penang to the mainland seems set to go to UEM World, a government-linked company, through the process of direct negotiations.
Indeed, construction industry executives are hard pressed to name a single project that has been awarded through competitive bidding. 'I can think of a lot of projects that's gone through direct negotiations but these are low profile ones,' said a senior businessman involved in the infrastructure business. That the issue is getting increasingly ventilated is clear though. '
(BT 23 November 2006)
'Most of the water privatisations conducted under the previous government of Mahathir Mohamad were awarded in closed-door negotiations without competitive bidding. The contracts were seen as highly lucrative because they granted concessions that lasted decades, and many went to companies with close ties to the government.
6
ReplyDeleteMalaysia has shown signs recently of cracking down on rising official corruption, which has been roundly criticised by both Dr Mahathir Mohamad, the prime minister, who is on leave overseas until next month, and Mr Anwar. Some observers suggest that Mr Anwar is taking advantage of his stint as acting prime minister to burnish his anti-corruption credentials, thereby increasing his chances of eventually succeeding Dr Mahathir.
In a separate development, the national Anti-Corruption Agency (ACA) yesterday charged Mr Azman Abdul Ghani, an aide to the former chief minister of Malacca state, with receiving a Mercedes car for his role in approving a local project. The ACA is also looking for a second senior official connected with the case.
Another senior Malacca state official, Mr Sahar Arpan, was arrested for allegedly receiving a M$500,000 bribe to approve applications for the purchase of two lots of prime land.
Critics say official corruption is too easily concealed in Malaysia, where large contracts are regularly awarded without open tender, there is no "full disclosure" requirement for public companies and compliant media are discouraged from investigating official misdemeanours.'
(FT 3 June 1997)
'"I was told files were opened and phones of certain individuals opened," it quoted him as saying.
It said "there were weaknesses in tender evaluation processes", including the absence of an open tender system.'
(Reuters 12 August 1996)
'Both Datuk Ahmad Sebi and Tan Sri Tan, longtime associates, are close to Dr. Mahathir and other members of his United Malays National Organization, or UMNO, Malaysia's dominant political party. Tan Sri Tan's involvement in the original consortium -- through Berjaya Industrial Bhd.'s 20% stake -- had triggered allegations of political favoritism from critics of Malaysia's 11-year-old privatization program.
Critics have argued that the sewerage project and other privatization contracts should have been awarded through an open tender process and not through the Malaysian government's preferred and often-controversial "first-come, first-served" approach to infrastructure development and the sale of public assets and services.
In the case of the sewerage award, Indah Water has been assigned a contract to refurbish, upgrade and construct a sewerage system for 143 Malaysian municipalities. The consortium would own and operate the system for 28 years, or roughly 10 years beyond the project's completion. But because of the politically sensitive criticism, the consortium has assumed control of the sewerage systems in only six municipalities, including the Malaysian capital of Kuala Lumpur. '
(AWSJ 10 October 1994)
'Lim said an open tender should be held for the job to build a new sports complex for the 1998 Commonwealth games. "Malaysia's privatisation process should not be seen as giving undue advantage to companies closely linked to a certain ruling political party or influential political leaders," said Lim in a statement.
The stadium plans also have conservationists steaming. UEM wants to tear down two existing sports complexes in the capital, including the Merdeka stadium where independence from Britain was declared in 1957.
It says that by putting up a convention, hotel and apartment complex on the site, the government could pay for the new Commonwealth games stadium.
Mahathir has thrown his weight behind the UEM plan, saying Malaysia cannot afford to keep the stadium purely for sentimental reasons. '
(Reuter 4 May 1993)
5
ReplyDeleteDr Mahathir was asked to comment on news reports yesterday quoting Works Minister Datuk Seri S. Samy Vellu that he will purpose that all contracts for government projects be awarded through the open or competitive tenders in line with the Cabinet's decision to reduce government expenditure.
Samy Vellu had said that to ensure the best price is obtained, he will propose to the Cabinet to do away with the negotiated tender system whereby only contractors approved and registered with Treasury are selected to negotiate on the tender price of government projects.
Dr Mahathir reiterated that the selected tender system was used to speed up the process of awarding the contracts.
"Nevertheless, everyone has the opportunity to bid for contracts," he added.
On his meeting with the Menteris Besar and Chief Ministers on Wednesday, Dr Mahathir said he was only seeking for full cooperation from all state governments to assist the Federal Government to strengthen the country's economy.
"I just asked for cooperation from them (Menteris Besar and Chief Ministers)," he said, while not dismissing that certain states are not following the Federal Government's call for scaling back programmes considered extravagant such as on overseas expenditure.
For example, Dr Mahathir said sometimes, the state governments, to the extent even the local authorities, organised an unnecessary large-scale delegation overseas.
"This means that we will be spending substantially and a substantial amount of our money will flow out of the country. If the delegation comprise three or four people, then it is alright," he added. '
(BT 19 September 1997)
'The construction giant Ekran Bhd is headed by Sarawak tycoon Ting Pek Khiing, who caught Mahathir's eye when he built a hotel on Langkawi island in record time. But Ekran does not have experience in dam construction and was awarded the Bakun contract without open tender, analysts say. '
(IPRS 9 June 1997)
'Mr Anwar Ibrahim, Malaysia's acting prime minister, yesterday ordered two cabinet ministers to explain the alleged misuse of M$600m ($240m), in the latest in a series of moves against improper practices.
A senior official in the primary industries ministry confirmed that the funds had been used to buy property and not for their intended purpose of planting rubber trees. The diversion of funds affected the livelihood of about 300,000 people. The official said the so-called Risda Replanting fund, set up to promote rubber cultivation, was now empty.
Mr Lim Keng Yaik, minister for primary industries and one of the two ministers summoned by Mr Ibrahim, alleged the M$600m Risda fund had been used for the purchase of "non-beneficial" assets.
The second man ordered to provide an explanation was Mr Annuar Musa, minister of the rural development ministry responsible for administering the money held in the fund.
4
ReplyDeleteBut the Asian financial crisis sent Malaysia into deep recession and exposed the privatisation scheme to criticism that it lacked an open tender process and that the privatised assets ended up in the hands of businessmen known more for their links to the top leadership and easy access to credit. '
(Reuters 4 March 2001)
' Malaysia's communications minister Leo Moggie was Wednesday urged to explain how Japan's Mitsui and Co. won a big order with the telephone company despite not tendering for the contract.
The Anti-Corruption Agency is investigating claims that Mitsui paid a 2.8 million dollar kickback to secure the deal. '
(AFP 23 23 February 2000)
'To fix the system, Mahathir would have to abandon a strategy that served him well in the past. In Malaysia Inc., huge contracts were awarded to Mahathir's friends without open bidding. In return, the businessmen were expected to contribute when the ruling party needed support. During the 1980s, it was a win-win proposition: the friends got rich, the economy grew and the ruling party prospered. '
(Newsweek 22 March 1999)
'The government has granted a tiny company a lucrative contract to move a cluster of cemeteries and crematoriums in the city -- clearing the state-owned land for private development.
But several religious and ethnic groups whose historic cemeteries are about to be moved are preparing to put up stiff opposition. Critics say the plan is an example of Malaysia's opaque privatization system, and comes at a time when the capital is already awash in a property glut.
The first public notice of the plan came a few weeks ago, when it was announced that Pribena Construction Sdn. Bhd. had been granted the right to move the graves, and to build a new cemetery about 30 kilometers away to hold them.
But further details are scarce. When asked who would eventually develop the 176-hectare site, and what would be built there, Dr. Mahathir said recently: "I don't know."
Pribena's owner, Ahmad Stalin Osman, when asked in April how he had won the 800 million ringgit ($200 million) contract to exhume the bodies and build the new cemetery, said: "I don't want to answer." '
(AWSJ 10 June 1998)
'Works Minister Datuk Seri S. Samy Vellu said today government projects which are highly specialised or urgent needed to be awarded on a negotiated tender basis.
However he said some 65 to 70 per cent of contracts went through the open tender system.
"What I am talking about is some jobs, less than 30 per cent, go through negotiated tender.
"The Government for various reasons have to go for negotiated tenders because it cuts down time, the project is urgent and the (open) tender process will take time," Samy Vellu said after visiting the site of the Selayang Hospital. '
(NST 20 September 1997)
'PRIME Minister Datuk Seri Dr Mahathir Mohamad said the Government has always been practising an open or competitive tender system on awarding of contracts for government projects.
"We have the open tender system for quite sometime. But in certain situations, like when there is a need to speed up the process, we will use a selected tender system," he told reporters after launching a three-year road safety campaign for motorcyclists and pillion riders in Kuala Lumpur yesterday.
3
ReplyDeleteMeanwhile, the government has temporarily suspended the award of new water privatisation contracts. Future agreements are expected to cover a wider region than individual states. The prime minister has vowed that future privatisation contracts will be subject to open tender. The transfer of control over the water industry from the states to the national government would improve oversight and reduce opportunities for patronage'
(FT 19 August 2004)
'Nor does Abdullah seem decisive with implementing the details of his own reform plans. When asked about the slow progress toward making bidding for government contracts based upon an open-tender system, for example, Abdullah replies vaguely: "Some of these projects happen to be projects for which a letter of intent has been issued, which is something that has given me a problem." '
(FEER 3 June 2004)
'In his first major address to Malaysia's business community since coming to power last October, new prime minister Abdullah Ahmad Badawi announced his intention to make transparency the norm in the country's government tender processes. Speaking to council members of the National Economic Action Council (NEAC), Abdullah said that having efficient and transparent bidding processes for government contracts - open to Malaysians and foreigners alike - would reduce uncertainty, lower the cost of business and curb corrupt activities. He also said that, with the conclusion of the financial crisis, the private sector would take on an increasingly central role as the country's economic growth engine.
Significance: The main messages of Abdullah's speech square with analyst expectations that he would sustain certain elements of his predecessor's economic policy, while imprinting his own influence on others. The move towards open bidding on government procurement contracts is seen as a departure from the Mahathir era of cosy relationships with key business players, while the message about private sector-driven growth follows on neatly from Mahathir's final budget, announced in September 2003'
(WMRC 13 January 2004)
'Already at the lowest ebb of his 20-year rule due to several unpopular decisions made over the past two-and-a-half years, Mahathir's political problems are mainly with his ethnic group, the majority Malays.
Malays blame Mahathir for many of their woes, including the split in the community following the sacking and imprisonment on sodomy charges of his former heir-apparent and deputy, Anwar Ibrahim, and the poverty experienced by many despite affirmative action policies designed to improve their lot.
Less than half of Malays, who make up 55 percent of Malaysia's 22 million people, voted for UMNO in the 1999 general elections.
The government argues the sale of state run companies helped cut billions of dollars from government spending and aided Malaysia's transformation from a rural economy into an industrial one with growth rates averaging eight percent for a decade.
Dato',
ReplyDeleteThings will remain the same as long as these shitheads lead the country. What better way to build up your war chest for the coming GE than to use such land bank as your own and give them away at negotiated rate with some strings attached? Unfortunately no hue and cry from the public will happen the same way the UM land was to be grabbed because the public doesn't feel attached to a piece of an Army base unlike the UM land where many graduated from.
People in UMNO (other than yourself) will keep quiet because they will be told that it will be for the benefit of UMNO in the coming GE.
PKR Selangor must be regretting their decision to be transparent and tender up everything according to the rulebook thus denying themselves of much needed fund to finance their election machinery. Luckily PAS in Kelantan has wizened up and created such fund in their own way.
Pak Tua
Dato,
ReplyDeletePls banish your thoughts that "UMNO mampu berubah". I do not agree. Believe me, the changes, if any, are just cosmetics.
The disease in UMNO has reached terminal stage. Either change all the UMNO leaders especially the UMNO head (sort of multiple organ transplants)with Tengku Razaleigh as head( the only respectable person left standing in UMNO capable of making the change) or let UMNO die. Let PR takes over and see what they can do. AI may not necessary be the PM.
Salam Dato',
ReplyDeleteDS Najib memerlukan wang yg amat banyak untuk menghadapi PRU 13 nanti.Melihat kepada gaya beliau yg dengan sewenang-wenangnya menabur dan mencurah wang yg begitu banyak di dalam PRK di Hulu Selangor dan Sibu yg baru lalu,ternyata beliau merasakan hanya dengan wang sajalah Umno/BN akan dapat memenangi PRU akan datang dan mengekalkan kuasa seterusnya.Oleh kerana kekuatan Umno sekarang bukan lagi berpaksikan kepada keutuhan dan keluhuran semangat dan jatidiri,tetapi semata-mata bergantung kepada kepingan wang ringgit, maka wang ringgitlah perlu dicari sebanyak-banyaknya.Untuk itu,cara yg paling senang dan lumayan hannyalah dengan menjual tanah tanah itu secara tertup.Dengan cara itu wang bukan sahaja dapat di salurkan kepada parti tetapi juga ianya akan tiris dan melimpah ruah,memperkayakan lagi lanun-lanun dan perompak serta juak-juaknya.
Apa yg berlaku dalam Petronas,dengan pertukaran Pengerusi/CEO dan kemasukan pengarah-pengarah barunya, membuat saya curiga kerana ianya menampakkan semacam ada sesuatu agenda yg menjuruskan kepada penguasaan Petronas secara mutlak yg membolehkan wang Petronas dipergunakan sesuka hati oleh pihak tertentu.Saya berharap sangkaan saya ini tidak betul.Tetapi melihat kepada trend dan apa yg berlaku akhir-akhir ini,ianya tidak mustahil perkara itu boleh berlaku.
Askar Tua
In today's STAR, 1MDB admits it does not have any real estate development expertise but will be engaging "experts."
ReplyDeleteWhile one can have some confidence in stat bodies like EPF who have been around for many years, how can we be expected to rely on 1MDB which was formed only yesterday to create a sovereign fund for Terengganu, to manage in an area like the massive multi-billion $ commercial development of Sg. Besi land?
This is precisely where Najib will go wrong provided of course his real intention is to maximise returns for the Rakyat and not line the wallets of UMNO/croneys!!
Personally, I would send out an open tender RFP (with no Govt guarantees thrown in) where the Govt will get back land cost at market value plus a share of profits, and leave it to the private sector to propose and develope the land like those at Sg. Buloh, Sg. Besi, Cochrane road, Matrade etc. The Govt should of course also keep development densities low and ensure the green aspects are protected!!
I sense grave danger whenever the Govt and stat bodies go into businesses they have no real feel for or expertise in.
I repeat:
It is not the business of Govt to be in business!!
dpp
we are alll of 1 race, the Human Race
Najib is a conman, charlatan.
ReplyDeleteSomeone like a medicine peddler I use to see by the road side in the 50s.
They will see coconut oil and claim it is tiger penis oil that can cause an erection that would last the whole night long.
The man conned the few people who stand there in a circle.
But Najib is worse. He cheats the whole country.
But there are idiots who believe him. Fortunately, they are in UMNO and Perkasa only.
Dato',
ReplyDeleteI have highlighted your article in my blog HERE. There is also a link provided there for the Big Spending Man.
copy-pasted from my blog is as below:-
Who Is Taek Jho Low? Big Spending Mystery Malaysian? Najib, Any Clue?
"...the investment arm of the Qatar government is probably talked into coming in by that young Chinaman, Taek Jho Low who gave Datin Sri Rosmah a gala of a party in New York last year...
If this is true, it will certainly raise some very tough questions. Why should any of the government linked company ( LTAT) belongs to the Armed Forces -get involved in this deal?... "
Sakmongkol AK47
Read about THE BIG SPENDING MYSTERY MAN
dato
ReplyDeletewhy are u telling us something which all sensible malaysians have known all along?
There is nothing left to "hairan".Action please dato!
Kalau all talk and no action then lebih baik buat blog tomoi aje!
Its frustrating.
Our "beloved" PM said at a Sibu ceramah :
ReplyDelete"Lu tak perlu keluar duit, gua yang kena keluar duit". This is prove enough of UMNO's mentality....they treat the money as theirs and therefore can do what they like with it. Really suckers.
Tuan,
ReplyDeleteMahathir had his Chinese favourites like Vincent Tan, Lee Kim Yew, YTL, EKRAN Ting,Eric Chia.. while Pak Lah had Patrick Lim. Najib has many locally as well as overseas.Ethos (a young guy crushed by falling iron beams in Harta Emas}.The difference is Najib's chinese cronies are young and rich. Very soon they will empty Petronas bank balances.SOOn he's gonna replace the chief in Bank Negara.
Mana Ibrahim Ali dan Perkasa ?
The legal terminology of the word Bidding must be first defined before we can challenge on its procedural matter.
ReplyDeleteWhat constitute an open bidding? What is the definition of open bidding? Will it follow the same bidding process like tendering of JKR projects by way of advertisement in newspaper, or just spread the words among local and international players and see who can come up with the best proposals and price. No need for advertisement or filling of any forms.
Is it a legal requirement for the government to offer open bidding or its just a policy.
What definition and procedure must we use in Malaysia context .. I hope AG’s chamber can come up with the guideline soon.
dato, things to cover,
ReplyDelete1.Again lobbying
2.Real estate speculation, housing projects, and the detrimental affects of inflation. and the eventual defaults of personal loans
3.also an extensive coverage of our food imports and how they are handled, are there any exclusive tenders awarded there? is it state run or privatized?
*this commentary can be chiplaked as long as u give me credit. even in coffe shop conversations, if you don't like people stealing your ideas then don't steal mine to appear intelligent. rotflmao
This country is bleeding. The rakyat is weeping but who cares. The wakil rakyat's chosen by BN to contest have no guts to criticize the ruling elites from the BN coz that will cost them their position in the coming General elections. So big majority of them just opt to toe the govt's line out of courtesy.these morons do not have any morals in their souls which I believe has been 'sold out' for personal gains. So,the rakyat is left with the opposition MP's. There again is a problem. The fierce one's get booted out from parliament under the so called 'jawatankuasa blah blah blah'. Some are under the armpits of the govt and will open fire against their own party but will remain shut on the govt failures. There is one moron who says to the PKR that he is Muslim FIRST. Now, these morons are all under seige from the ruling elites because they have done some wrong along the way. So they toe the BN line but very discreetly for years before opening fire on their comrades on minor issues. These morons are put in 'phase boxes' only to be taken out during some govt fight against the opposition leaders. We have seen the latest used in the Sibu 'buy election'. The infamous frog from MDP ex DAP.Very conveniently their masters prepared his text on the on going issue of sand in Selangor.
ReplyDeleteTell me please , who is supposed to fight for the rakyat. An old man in my hometown once said to me, 'Itu pandai punya orang samada sudah mati atau sudah lari keluar negara'. So much for open this and that. The only way this country can be brought to the right path is to make sure the opposition wins big majority to form the next Federal Govt. UMNO cannot deliver. They are too smart at manipulation.
Dato',
ReplyDelete"The Qatarian government's investment arm is obviously brokered by the Taek Jho low- the super rich kid which the Malaysian press and groveling-at-the feet- analysts readily confer extraordinary business acumen to. Yes, it's the same young man, who 'thought' of the Terengganu Sovereign Fund which later became One Malaysia Development Fund." Unquote.
There is more to it than meets the eye...
All the answers are there outside Bolehland...
For the Elites to "Screw-up Bolehland" using the "Jaguh Kampungs", if one cares to research "Globally" on the NWO, etc....
Just to share this with you...
Does this ring a bell...The Wharton School, University of Pennsylvania....?
Other Tavistock Institutions in the United States...(Trilateral, CFR, etc NWO...? flyer168)
Brookings Institution; Dedicates its work to what it calls a "national agenda."
University of Pennsylvania/Wharton School of Finance & Commerce; Founded by Eric Trist
Institute for Social Research
Institute for the Future
Institute for Policy Studies
Taek Jho Low Info.
http://www.taek-jho-low.com/
Low Taek Jho
(Malaysian, Aged 27 years, Non-Independent Non-Executive Director)
"Mr Low Taek Jho was appointed to the Board of UBG Berhad as Group Advisor on 19 September 2008.
He is a representative of the major shareholder, Majestic Masterpiece Sdn Bhd and Abu Dhabi-Kuwait-Malaysia Investment Corporation.
Mr Low currently serves as group advisor to several international corporations involved in global private equity, mergers & acquisitions, buy-outs, government-to-government offset structured investments and financing, networking and financial aid, amongst others.
Mr Low graduated with a Bachelor of Science degree in Economics with concentration in Finance from The Wharton School, University of Pennsylvania, United States of America." Unquote.
Big-spending Malaysian is the mystery man of city club scene
By JENNIFER GOULD KEIL and BRIAN NIEMIETZ
Posted: 3:11 AM, November 8, 2009
Read more: http://www.nypost.com/p/news/local/item_Fu1amZaRx9MOMsr9HCIOzK#ixzz0oQQyShaF
http://www.nypost.com/p/news/local/item_Fu1amZaRx9MOMsr9HCIOzK
Contd...Part 2
Part 2 - Taek Jho Low
ReplyDeleteMalaysians Say Things are Looking up for 2010
Sunday, December 20, 2009
http://taekjholow.blogspot.com/
A recent International Business Confidence Survey shows that Malaysia is one of the top ten countries best able to deal with the global economic crisis.
This survey included 7500 businessmen in 24 countries and was conducted by Servcorp.
The goal of the survey was to gauge international business moral.
Certainly, Malaysian businessmen such as Taek Jho Low, Tan Sri Dato Francis Yeoh, Takehiko Wakayama and others should find this encouraging....
UBG Berhad
Once a financial services group, UBG Berhad is today evolving....
These further strengthen UBG's infrastructure capabilities which include CMS Roads Sdn Bhd and CMS ...
www.cmsb.com.my/ubg/ - Cached - Similar
[PDF]
Annual Report 2008 www.cmsb.com.my.pdf - Annual Report 2008 www ...
File Format: PDF/Adobe Acrobat
www.cmsb.com.my. Registrar.
Symphony Share Registrars Sdn Bhd .... which led to CMS' indirect interest in UBG being diluted from. 51.8% to 37.2%. ...
www.cmsb.com.my/investors/annual_report/.../CMSB_AR2008.pdf - Similar
UBG Board Of Directors
http://www.cmsb.com.my/ubg/bod.htm
Board of Directors
Chairman:
Y Bhg Dato Sri Mahmud Abu Bekir Taib
Deputy Chairman:
Datuk Syed Ahmad Alwee Alsree
Non-Executive Director:
H.E. Yousif Mana Saeed Alotaiba
Non Independent Non Executive Director:
Shaher Mohamed Ali Al-Awartani
Non-Independent Non-Executive Director:
Low Taek Jho
Non-Independent Non-Executive Director:
Tan Vern Tact
Independent Non-Executive Director:
Dato Sri Liang Kim Bang
Independent Non-Executive Director:
Krishnan a/l C K Menon
Current News
“You Are Our Strength” – Syed Ahmad Tells Loh & Loh Team....
http://www.cmsb.com.my/ubg/press.htm
You be the Judge...
Cheers.