Saturday, 12 November 2011

What has a RM10 million Condo got to do with rearing cattle?

Updated 14 Nov 2011:
Read more here

Original Post:
Still on the NFC fiasco, Friends, can you believe this:

RM10m cattle condo was an investment, says Khairy

I can't believe my eyes when I read the news, what a lame excuse for using Public Fund meant for a National project to buy a Condominium. And what a Super luxury Condominium it is:

I think YB Khairy should stop being spokesman defending the NFC and its Management, macam tikus membaiki labu, the damage control is not working. His replies are like petrol thrown on to fire. Public funds for the NFC cannot simply be used to purchase items for investment, there must be  Laws which disallow this kind of thing. Read this critic:The Bangsar beef pie in the sky.

If this kind of "investment" nonsense using Public fund meant for specific purposes is allowed to pass without punishment, its precedence will cause problems in the future if some smart alecs and there are many smart ass in Malaysia who are generous with money not their own, who could given the chance will be willing to buy paintings say by Van Gogh:

A Very expensive investment 
I am no fan of the PKR or the PR for that matter, but matters such as Public Fund use or misuse should transcend politics, the NFC Management needs to answer a lot of questions and allegations against them, please be reminded rhetoric and attacks on PKR or PR will not be enough to get you off the hook. 

The ETP the Government Economic Transformation Plan has brought much changes especially to the Construction sector where jobs created and funded by the Government are becoming competitive every year, and those tendered out costing less than RM10million ringgit will have scores of hopeful Contractors bidding for the job. Now many Engineers and Technicians in the construction sector are facing pay cuts some even the axe and here we have  a Company given a soft loan by the Government for a National Project and have the temerity to use public money to invest in a Condominium? I have not begun to ask who benefits from the purchase, who allowed the purchase and who is staying in the RM10 million condo.

It is time for the MOA Minister in charge of the NFC project to stand up and take charge of the situation, do not leave it to an MP to explain the scandal away because it won't go away. In fact I think the PAC should start an inquiry about the way Public Funds for the NFC is utilised. 

Malaysians have the right to know.


Anonymous said...

What bloody nonsense! That 'malaysians have right to know'. Plleeeaaase.. You r one of those many 'hidees' who cant stand seeing another malay you dont like : 'do anyhting that will make them look better'. Like Tun Mahathir said, 'busuk hati'. And tout your scheming view as 'malaysians have right to know'.There is nothing wrong with making investment if thats going to make money.So whats wrong in investing in an apartment even if its in timbuktu, and the fund is a 'cow fund'.Thats what people do when they invest.

Is the money lost or taken by an invidividual to profit himself? That shud be what you shud be asking and provide proof instead of being so self righteous and petty.
Instead you choose to politicise it with bullshit and kick right and left except centre.

If truly 'malaysians have right to know' -the sentiment you raise is devious with stupid reasoning of 'malaysians want to know.

Then why dont you also ask for malaysians - what have investing in everyhtng else by Tabung Haji ,got to do with helping muslims to perform the Haj, help reduce cost especially for the poor and make sure everyone have a right to be comfortable and safe there not just the selected,the privileged and those who can afford.Not that the poor are complaining. They never complain.

What have investment in mega buildings by tabung haji etc etc got to do with helping sincerely, strategising better and faclilites for ALL to share - for muslims and malays who want to fulfill their faith and uphold their believe in Allah .

Why do you pick and choose to be so self righteous and be destructive? Just because its sharizat or its khairy or Noh ? Which one.If its someone else you support or are in sycn with , you sure will defend to your last finger,even when you know they are wrong!.


eddy said...

Nagaman, penat lah cakap dengan org macam kamu, who cannot see the wood for the trees.

This is an excerpt from OutSyedTheBox:

"Update : I think I have to explain this a little more. These folks do not understand business at all. You dont say you have surplus cash flow if your Ah Long lent you an extra RM100,000 that you dont know what to do with. That is NOT surplus cash flow. That is surplus hutang which you dont know what to do with (if you dont pay it back).

Surplus cash flow arises when your business is doing extremely well, you have paid all your debts, paid the salaries of your staff, dah bayar telefon, api, air etc and you have surplus cash left over - only then you can safely say you have surplus cash flow.

Meaning 'surplus cash' is left over cash from your succesful business operations - above and beyond your original cashflow projections (which your con-sultans would have prepared for you).

When you found out that you have actually borrowed more than you need, that is not surplus cashflow. That is simply called 'borrowing money that you dont need'. In such a situation, you just return (pay back) that extra money to the Lender.

Also when the loan was made by the Government, some Ketua Pengarah in the Ministry of Lembus who analysed the whole project and recommended it for approval MUST have based his analysis on a lembu project. The repayment of the RM250.0 million loan MUST be based on the lembus. NOT from real estate investment. Tujuan sudah lari. The "Purpose of the Loan" - an important factor in lending money for projects - has changed. From lembus to buying condominiums." read more:

Anonymous said...

Another schmucky reply.U think all those businessmen follow the rules in the article? Imagine - does daim,robert kuok ,ananda krishnan, vincent tan , Francis Yeoh, Syed Mokhtar,Khalid ibrahim or even Mokzani mahathir or some glcs- follow those rules?

Wake up my man! The truth is investing in new apartments in Kl,singapore yada yada yada, will make money. Good money.It is a good short term investment. So what if the money is from cows ,chickens or camels.
You go tell ur rules to those robber barons above and they will probably snort at ur own naive assumptions.

You think they are where they are because of these schmucky rules?
There are no rules in business. And everything is personal. If u giv loan ,u giv la ,where got lender will say what you can or cannot do with the loan. As long as it gets paid back isnt it?

If there are rules and moral ethics then today you tell tabung haji its unethical that they invest money in buildings and other business and profit from it when their business is with god and islam. Then you are sincere.

All the tabung haji funds must be spent to help every muslim to perform haj.If there is abundance of funds then seek the poor who cannot afford and give them free passage and medical like what some states used to do. Not spend it or invest it when you still owe god becasue you have not rescued some poor people from selling their land to perform the haj. Thats the measurement right?

But what the hell, you are just another melayu pontificating away only because you dont like the character . You belong to that opinionated group who cant wait to say what you think is so right, so self righteous. We have seen it and we have seen it all. The fall of the melayus will be by melayus themselves as much as the fall of any malay institution will be by the insitution itself.It will never be by the non malays.

When you cant beat them destroy them right?


Anonymous said...

Deputy Prime Minister,Minister of Agriculture,Shahrizat KJ and Tundol

We are articulating the Auditor General's Report.
Auditor General is not a politician.

Why do you all refuse to understand
a)corporate governance
c)lift the corporate veil
d)insider trading
f)abstaining from voting
g)money laundering
h)consolidated accounts
A 100%loan/advance/grant by the federal government to a corporation Companies Act 1967, will make that corporate entity a wholly owned subsidiary.
same story like the executive jet paid by khazanah used by the previous pm .
Previous PM also said that the government did not buy the jet.
If you people cannot understand ,there are amongst the 1,300,000 civil servants who do.Take the advise.
Politicians like Sharizat cannot claim "I dont know and I am not involved."
I think you should do the honourable thing.

eddy said...

Nagamas, two wrongs does not make a right.

eddy said...

Gen46, thanks for your comment.

Anonymous said...

Agreed 2 wrongs doesnt make it right. But in politics it does. Look at the Era of Tun Mahathir. It started from there. If you apply what you pontificate, many politcians , ex- in gomen and oppose will have to close shop.