Just read from Rocky's Bru that the cabinet will be discussing tomorrow 2nd June 2010, a RM50billion proposal from Asas Serba to buy out all of Malaysia's 25 road concessions.
Some articles on the Asas Serba proposal can be read as follows:
- Another highway monopoly? read here;
- Asas Serba, don't play it again sam, read here;
- Asas Serba’s RM50b toll monopoly question, read here;
- Funding main hurdle for Asas Serba, read here.
I think Malaysians as a whole have it up to their nose on monopolies already. We have the IPPs, sugar, flour, APs and whatever things that can be monopolised by individuals or companies close to the Government.
This Asas Serba proposal to monopolise the highway concessions could be the mother of all monopolies which will in the long run benefit only a few. Nanti mereka jual Asas Serba dan listing kat Singapura atau London pulak, boleh buat untung durian runtuh besar tu. Is this a taste of things to come in the New Economic Model? I pray not.
I think I know what the cabinet should do to the proposal, well I know..just throw it in the dustbin for the rubbish it is and replace it with a plan for the Government to buy highway concessions such as PLUS which even though is making hundred of millions in profit annually still qualifies to be paid compensation by the Government under the terms of its lopsided agreement. The Government already own 84% of PLUS anyway, so BN tunggu apa lagi, kata nak menang next election! This is definitely an election winner especially if the government give good discounts to highway users.