Samy Mamamia: Enter the Dracula

Did anyone called him Dracula?

I don't think so and he doesn't need to inform us that he's not!

The problem is that the concessionaires agreement was lop-sided and was made against the interest of the public in general.

How could a the public interest be sacrificed just to caused behemoth benefit of a few businessmen who take advantage of what Mahathir said, the inexperience of the government officers? Even if the government officers are inexperienced, they could have learn it as privatisation and BOT highways are not something new in this world of commerce. UK and Europe, including Japan had been privatizing highways for decades before Malaysia decided to join the bandwagon. We end up with robber barons.

More puzzling is the statement made by Samy who said:

""See you borrow RM1bil, you pay RM1.2 billion as interest. So the cost becomes RM2.2bil and in 15-years the cost becomes even higher.

What a bullshit. The interest rate charged is nothing more than 5-8% per annum and there is no such thing as RM1.2bil interest per annum for RM1bil borrowing. That's is far higher interest charged than by Ah Long; Ah Long only charge 40% per annum that the bank charged 120% p.a.??? Did the concessionaires borrowed from Samy Long?

According to Samy, EPF was also a financier; so what was the interest rate charge by EPF? If EPF had charge rates higher than Ah Long, then why are they paying dividends at 5.25% per annum? Did we become suckers and did EPF becomes suckers? Now I understand why the word Dracula had to be an analogy.

Much to our chagrin how could the government had classified the concessionaire agreement as Official Secret Documents under the Official Secret Act (OSA).

But the issues involved public interest and public funds. The people who pays to the concessionaires are the public, not the government, and even if it is the government who is paying, the money involved are public funds and at such, the public had a right to know and the government had a duty of care to ensure that the system is transparent and clean; that all their officers and executives are accountable and responsible. The legislative body are elected by the citizens and represent the people; they don't owned or possess any power to do what they like or to do with they want with public funds; they are accountable and they are entrusted with the duty to protect the people and to ensure that public expenditures are efficiently handled and not wasted. This is what we called the Fiduciary Duty of Care and it's the rule of law.

The ministers and executives have to report to the people who had elected them and the people had a right to know what they need to know. How could a democratic government hide documents and classified them under the Official Secret Act? That's an irresponsible and a breach of public trust.

In UK or USA, the legislative body or the Prime Minister would have to resign for breach of public trust and this is what Parliamentary conventions and ministerial responsibilities are.

Don't they know that? What a shame!