Monday 12 December 2011

Lembu CEO's Salary, London Pow Wow & Stuff

By Syed Akbar Ali

This is going around the Blogs and the emails. Just received this in the morning :

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"Dengar cerita CEO dpt gaji 100k sebulan, anak sulung (age 31) dpt gaji 45k sebulan, anak kedua (age 27) dpt 35k sebulan, anak ketiga (age 25) dpt 35k sebulan."
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There is no need to mention who are these folks. I hope the PM Najib Tun Razak does not waste time. The Ministers (plural) should be just fired, especially the Minister who seems most affected by this scandal.
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The sordidness is now moving from totally ridiculous to 'street walker' shamelessness. Takkan langsung tak ada malu ? There is less than six months left to the GE. Just fire them and the voters will forgive. If sincere action is taken, hopefully the voters will forget as well.
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The arrogance of it all. They just do not understand. Say the Government says, 'Ok Syed, go and build the first Space Rocket Launching pad in Malaysia. We know the project is very risky, the returns may be low but it is a strategic project and will have huge spin offs. So here is RM500.0 million soft loan at 1.5% interest rate to help you get started.'
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But what do I do? I take RM300.0 million to build the Space Rocket launching pad. But there are some delays or complications. Say the project is only 41% successful. So I take the balance RM200.0 million and invest in luxury mansions, super cars and pay myself and my kids super high salaries. Banyak cantik.
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The reason the Government gave the special incentive low interest rate loan was to help develop a strategic sector in the economy - building a Space Rocket launching pad. Not to invest in luxury mansions for rent or buy super cars or pay myself high salaries.
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Investing in luxury mansions and buying super cars are not strategic sectors of the economy. If I did that with a special incentive low interest rate Government loan or Government grant, then clearly I am in breach of the intended purpose of the Government's assistance.
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I should just return the money back to the Government. But if there is :

i. no Loan Agreement
ii. no propoer documentation
iii. no proper control over the release of the RM500.0 million by the Government
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then of course I will also shamelessly say that I have NOT breached any terms and conditions of the loan or broken any laws. And I will be correct. Tapi "street walker shameless" lah.
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Then I received this sms yesterday : "Heard he is going to London with Wahid Omar, PM, Mr X & GLC heads between now & Christmas for pow wow"
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An interesting sms. This could just be nothing or it could be everything. Dato Kadir Jasin says in his Blog that the PM will be finalising the list of candidates for the elections in about one to two months from now. Everyone is getting into the act. I really hope that the PM does not goof up this issue.
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Who the PM listens to, to make the choices is as important as who the PM chooses as candidate.
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Already the advisors around the PM are suffering very bad Press. Similarly some of the Ministers around the PM, especially the guy who is said to be going to London with him - suffer a really bad image. A very corrupted image, plus also a string of economic failures.
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As an example the GLCs are going from bad to worse. The rape and ripping off of MAS is now moving into super high gear. It began with one character using MAS funds to buy paintings of fat women and helping himself to free booze. Someone should check the silverware in his house - mana tahu ada logo MAS ke? Was anything done? Nope. So we lost the two thirds majority in 2008.
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Then a Muslim-named Christian Dayak was put in charge of MAS. That has got absolutely nowhere. This man still does not know the difference between taxpayers funds and private funds. He says if the Government borrows money, it is NOT taxpayers funds. Now lucrative routes are being given up again by MAS to Air Asia - which has taken a stake in MAS.
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Everyone still gets paid RM100,000 salaries. Maybe they too have lembus in the condo. Everything goes down the tubes - nothing is done. No one is reprimanded, no one gets fired. Will 2008 repeat itself in 2012? The previous Prime Minister did not know if he was coming or going. He had a kind of deathwish. Najib appears to be much smarter and more awake than the previous fellow. I hope Najib does not have a similar deathwish.
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Coming back to the GLCs - folks say that we are paying (yes folks we are paying) Lego of Denmark to come and invest in Johor. They say the deal is structured such that Lego gets shares funded by any profits the Legoland project makes in Iskandar. In the meantime, they are fully paid and compensated for their presence here. Isnt that wonderful? That means Lego of Denmark suffers almost zero financial risk. Its like telling Michelle Yeoh, 'we will pay you RMX million to make a movie here. Then if the movie makes money, we will use the profits to buy you a share". You can have your cake and eat it too.
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Where did they learn to do business like this? From the 'Condo Cows School of Mismanagement"? I say, kalau style macam ini, orang buta yang main music di Masjid India pun boleh buat bisnes. Who knows maybe the blind fellow will bring in Hollywood Studios completely to Malaysia. Just pay them money to do it.
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Folks here is something else we need to know. Defense matters are highly secret - sometimes they have to be. But even in beautiful Malaysia not all defense matters are kept secret. We all know how much we paid for the submarines. The Government can defend the purchase (or try to). We know how much we paid for those armored cars or something from Turkey. The cost of the purchase is not made secret. We even know how much the consultants and middle men like Perimekar were paid for the submarine deal. This has become public knowledge.
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But did you know that Khazanah Nasional Berhad has refused to divulge in Parliament how much they pay their con-sultans? Khazanah Nasional Bhd has claimed 'contractual privilege' that they shall not divulge how much they pay their consultants.
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OK we dont want to know the con-sultans name. But just tell us total figures. How much have you paid to consultants in total in 2010, 2009, 2008 going back to 2003? What is the State secret?.
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If the Ministry of Defensive which deals in highly confidential defense matters (and is protected by the OSA as well as the ISA) can divulge the costs of weapons purchases, then why cant Khazanah Nasional Bhd divulge how much money it pays the con-sultans?
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What is Khazanah Nasional trying to hide?
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The GLCs have become 'Government Losing Concerns". So I hope the Prime Minister is not meeting the GLC heads or the GLC Minister in London to discuss politics. Even in business, they are showing gross incompetence - "Condo Cows School of Mismanagement".
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If you tap their craniums for political advice, then it will become 'Government's losing concern' also. Anti-PPSMI folks do note the English. Dato Seri, have their craniums X-rayed first. Tengok kosong ke atau berisi dulu. Kalau nak senang kerja Dato Seri, tanya Syed Akbar Ali :)))

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