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Sakmongkol ak 47

Sunday, 3 April 2022

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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