Sailing to success with RM295m profit28 Mar 2007
Tourism Minister Datuk Seri Tengku Adnan Tengku Mansor said the return on investment from the Monsoon Cup had exceeded all expectations.
Despite only being organised for the second time, the 2006 event yielded an investment return of RM295 million, almost 15 times the amount invested.
15x? This works out the investment to be only RM20 million (correction)? So, is Tengku Adnan saying that the government had only invested $2mil for the event last year? Bullshit! What a big fat shit from the bull.
Tengku Adnan has this to say:
According to the Monsoon Cup 2006 Event Valuation Report, the returns on investment were very high compared with other international sporting events, such as the Olympic Games, Fifa World Cup, Rugby World Cup, Formula One Grand Prix and the Commonwealth Games.
"The returns on the government’s investment in the event are good for Terengganu and Malaysia as a whole and with it, we can begin to chart out what we can do for events this year ."
Tengku Adnan said that the ministry was hoping to turn Malaysia into a sports tourism destination.
12 comments:
RM2 enough for the monsoon cup? Since when this bunch is so careful of spending taxpayer money? This qualifies for gueiness book record!
Of course RM2million only. The remainder of RM498million is in some motherf@cker's Swiss bank a/c and has been conveniently written off as unrecoverable losses
295/15 = 20 mil...it must be 20 mil not mil right...or I got my calculation wrong...even 20 mil is bullshit...
This guy tramples on the truth every time he opens his mouth.
The RM 20 Million he mentioned may have just been the direct expenses incurred during the event.
A very large amount of money went into construction of various infrastructure and buildings, transport logistics and sponsorships which were related to the Monsoon Cup. These costs are probably buried in Terengganu's development budget or under "wang ehsan"- the oil royalties slush fund.
These guys are real experts in creative accounting. So they can say with a straight face "It only cost RM 20 Million"
With this kind of statement, how on earth plebian like us is going to trust the mainstream media. The mainstream journalist also not doing their part to simply publish this kind of statement.
Credibility is earned not spinned!
what plebians? we are treated like serfs!
Wah, the spinning is getting out of control. When is the election again??
i am amazed at the level of their level of competence with numbers.... 5b to buy out the toll concessionaire from u-know-who and now this.... wow wow wow....
From The Star also:
"Tengku Adnan added that RM20.068mil was spent on the Monsoon Cup 2006 but it earned RM315mil worth of benefits, according to a report audited by an independent auditor."
What 'independent auditor'? You mean by the person who failed his statistics paper?
The government chooses ministers who don't even know basic arithmetic.
Oh my god.
F#@K!!!! I just received my monthly income statement. After realizing what's happening in the moronic management of the central admin. My RM 2,400/mth goes straight into the ass hole of the central administrators. Then, it was digested in their colons breaking down the nutrients. The proteins will goto their testicals. The vitamins and minerals will transformed into their fats and left the SHIT into the brain of my leaders from the central.
return of rm295 million? surely intangibles rite? since monsoon cup, how many additional tourists that east coast state gets?
who's the real beneficiary?
TA, can you pls enlighten us?
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