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