Second Finance Minister Nor Mohamed Yakcop said the government had to bail out Port Klang Authority Free Trade Zone project even though it has to forged out $4.6b as it is in the long-term national interest."We put money to create confidence for the overall economy and we will do that," Nor Mohamed Yakcop was reported to have said.
According to Nor Mohamed Yakcop the government had to rescue this company in the interest of the minority shareholders and the public in general.
Dear Nor Mohamed Yakcop, who is the minority shareholders? Wasn't it the minority shareholder the person who inflated the value of the land from $3 per sq ft to $25 per sq ft and sold that land to Port Klang Authority? That minority shareholder had pocketed nearly $1b and PKA is bleeding.
Secondly, by rescuing the PKFZ, what public interest in general are you referring? What had the public benefited from the whole project? It was the few UMNO members who pocketed few hundred million each and you call this public interests?
Thirdly, it is clear fact that the government do not have the money. So where are you going to borrow the $4.6b? Wouldn't you think that this $4.6b would have been better spent in other projects?
Dear 2nd Hand Minister, do not hide the facts. There are plenty of information which is in the public information center and many of those from PKA had already revealed it to the public. You should get your cyber-troopers to comb the internet to download those articles and evidences. Oh, do not forget that the Arabs had also revealed quite an amount of information when they leave. Jafza general manager Noel Gulliver and senior vice-president (international operations) Chuck Heath had already revealed much to the public. Please ask the cyber-troopers to blank out the various articles so that public would know less. Otherwise, many would know you are erecting a smoke-screen and lying. BTW, Lying is against Islam, En Nor Mohamed.
4 comments:
KL prime zone office, Menara Maxis hit RM7.50 psf/month, nearest Citibank tower only go for RM6.50. And all this are BUILD UP area, inside city center.
Man-in-the -street: So where are you going to borrow the $4.6b?
Finance Minister: No need to borrow-lah. We just hike up the price of commodities from water to petrol, and laugh as the dough comes flowing in.
He is, in a way, both right and wrong. If Port Klang itself is in danger of a financial collapse due to this fiasco, then there is a case of ensuring that Port Klang will continue to operate. But it must not end there. Heads must roll - No way the people in charge can continue to hold their positions. There needs to be criminal investigations. If there is fraud, somebody should go to jail.
In the 1980's the US government spent a sum larger than Malaysia's entire GDP to bail out its Saving's and Loans industry.
Otherwise, if the industry collapsed, the life savings of millions of small savers - Moms and Pops as they call it - would have disappeared. But they made sure most of the Directors and managers got fired, and many were tried for criminal fraud.
Will this happen in Bolehland ? Dream....dream...dream...
poor Minister. Have to come out to rescue the corrupts and that with such flimsy excuse. poor Minister, please stop defending the indefensible, else people wil start to query you on the billions lost in the forex market. then, you become the indefensible.
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