Growing
up in a country that is administered by Alliance-BN administration for
more than 50 years, whereby we live and learned from education system,
judicial system and kepimpinan melalui teladan set by one of the
longest political alliance in power, I wonder where the bad teachers
learn from?
Lee Wee Tak
The prime minister said that Pakatan
Rakyat are teaching people bad things, very bad things, such as debts
are not to be settled.
-------------------------------------------------------------------------------------------------
Opposition teaching people bad things: PM
PEKAN -- Prime Minister Datuk Seri Najib Razak said today opposition political parties in the country seem to be teaching people bad things, even matters contrary to religion.
Evidently,
three bad things were that debts do not have to be settled, good deeds
can be forgotten and promises need not be fulfilled, he said.
----------------------------------------------------------------------------------------------------------
Well growing up in a country that is administered by Alliance-BN administration for more than 50 years, whereby we live and learned from education system, judicial system and kepimpinan melalui teladan set by one of the longest political alliance in power, I wonder where the bad teachers learn from?
Let’s look at some fine case studies which serve to “teach people” not to repay debts.
Fresh out of the oven at time of writing is this baby:
--------------------------------------------------------------------------------------
Pempena ordered to wind up
R. Nadeswaran
citizen-nades@thesundaily.com
KUALA
LUMPUR (July 8, 2012): The controversial and financially troubled
business arm of Tourism Malaysia – Pembangunan Pelancongan Nasional Sdn
Bhd (Pempena) – has ceased to exist.
Last month, the High Court ordered the company to be wound up and a liquidator appointed to manage its affairs.
Pempena, a
subsidiary of the Tourism Ministry, failed to pay RM12.4 million for
the purchase of 120 units of Hyundai Sonata for its taxi service.
---------------------------------------------------------------------------------------------------------------------
Whoa, a subsidiary of the
government can’t even manage to pay RM12.4 million for luxurious taxies
that we Malaysians never get to ride. Gosh, while you and I put up with creaking Proton Ishwaras and risk of being over charged by cabbies,and the government can afford a €114 million commission paid to Perimekar Sdn Bhd…surely RM12.4 million should not be a problem? Tourism ministry is rich enough to fork out a million for a FB page so this come as a surprise.
Another intriguing saga was the MAS vs Tajuddin Ramli court case.
Both parties are linked to the federal administration as MAS is a GLC
and in Tajuddin Ramli’s own words, he was “roped in for national
service”. I believe him.
I
suppose there is a debt to be settled following a court case and under
the same umbrella, an agreed settlement has been reached
----------------------------------------------------------------------------------------
MAS settles suits with ex-chief Tajudin Ramli
Posted on June 22, 2012 by admin
Malaysia Airlines (MAS) has settled its three lawsuits with its former chairperson Tajudin Ramli.
It is learnt that in return MAS will receive as part of the settlement a piece of land in Langkawi where a Four Seasons Hotel was built.
The
Kuala Lumpur High Court is understood to have allowed both MAS and
Tajudin to withdraw the suits and counter-claim respectively.
---------------------------------------------------------------------------------------------------
Reading MAS’ Bursa Malaysia announcement on 16 February as depicted below…there is a claim hence debt per matter b) of RM74.6 million and Euro of 6.9 mil, roughly RM34.5million. Matter b) alone exceed RM100mil. Not sure how much is the total claim will be.
Being such gentlemen, the settlement has been reached out of court. On 25 Feb, MAS told Bursa that MAS will pay RM4million to get a piece of land and all other claims, i.e. debts, are dropped. MAS assure us that it will suffer no adverse financial and operational impact.
Wow, I do not have all the facts but that is one helluvaway to settle one’s debts.
I can’t even not pay a single installmenton my car. If both parties are
happy and being a listed company governed by strict listing guidelines
and oversee by the federal government, who am I to doubt the financial
viability of the deal?
All I can say is that it seems to a layman that a lot of losses are from flight and logistic operations being run so both party are fine with a piece of hotel land to make up for everything.
All I can say is that it seems to a layman that a lot of losses are from flight and logistic operations being run so both party are fine with a piece of hotel land to make up for everything.
Let's muse and vote over this later.
Yes, debts must be paid then. Let's look at this great example of MUST PAY
---------------------------------------------------------------------------------
PKA ordered to pay PKFZ bondholders
July 28, 2010
KUALA LUMPUR, July 28 – The
government has ordered the Port Klang Authority (PKA) to honour its
final bond obligation of RM222.58 million to Freezone Capital Bhd
(FZCB), despite the board’s ongoing suit against turnkey contractor
Kuala Dimensi Sdn Bhd (KDSB).
In
a statement today, the transport ministry said PKA would have to make
payment to special purpose vehicles as set out in the payment schedule.
………………………..
It was reported that the PKA
board had decided to hold back on its final payment to FZCB, one of the
four special-purpose vehicles (SPVs) that was established by KDSB, the turnkey contractor for the troubled Port Klang Free Zone (PKFZ) project.
KDSB
is now facing a suit of RM1.4 billion by the PKA for, among other
things, allegations that it had made bloated claims for work done on the
project.
------------------------------------------------------------------------------------------------------
Listen here, if you get a cotractor to fix your house and he mess up the whole work, SHUT UP AND PAY HIM. Understand?
So that is debt management 101 for
you from a federal administration that run into the following
snowballing and growing Hutang Negeri Dalam Persekutuan.
On the other hand, Pakatan Rakyat, with no experience, instigated a debt recovery from Talam Corporation Berhad in Selangor.
A debt previous not recorded in the accounting books of Selangor state
government companies and incurred in the good old days....too bad, a
bean counting type of MB took over and ordered a composite repayment of
cash, land under charged and land not undercharged
Financial buffs can read it here
Further up north, there is this result showing......
------------------------------------------------------------------------------------------
You too can be like Penang, Guan Eng tells Malaysia
By Shannon Teoh
April 01, 2012KUALA LUMPUR, April 1 — Lim Guan Eng has called on
Malaysians to vote for Pakatan Rakyat (PR) if it wants to see Penang’s
success replicated in their states as speculation mounts of a general
election this June.
......................
Penang attracted
the most manufacturing investments of any state in Malaysia in both 2010
and 2011 with RM12.2 billion in 2010 and RM9.1 billion last year.
....................
Lim has also claimed that Penang’s public debt fell by 95 per cent to RM30 million at the end-2011 from RM630 million in 2008 with budget surpluses every year since taking office.
-------------------------------------------------------------------------------------
Yes, Pakatan very bad lah....stirring up new options and scenario to
confuse people....why make people have more choices when they go to the
poll..... > <"
No comments:
Post a Comment