Monday, April 16, 2012

Maju Express Sale & Approved Permit are Part of Mahathir's Ugly Legacy

Ex-premier Dr Mahathir Mohamad likened the sale of RM1.7 billion Maju Expressway to the selling of approved permits. He said that the sale of MEX appears to be an exercise of making profit at the expense of government's assistance. The highway was built using almost RM976 million of government grant. 

EP Manufacturing Bhd (EPMB), an automotive parts maker, had entered into an acquisition agreement with Maju Holdings to acquire MEX for RM1.15 billion and assume debts totaling RM550 million, which will value the deal at RM1.7 billion. Maju's boss Abu Sahid Mohamed is expected to make a cool RM600 million++.

Mahathir is upset with the deal. However, the ex-strongman should be reminded that he was the creator of these problems. Mahathir had created a generation of leaders, businessmen and followers who are dependent on government's largess and handouts. However, these handouts are getting bigger by the year. 

The total amount of grants and subsidies given out to cronies and businessmen linked to the government, often in the the name of NEP and national interest, should have exceeded billions. How much more can the government afford? How much more before this country is going to hit its financial limit and risk of becoming insolvent?

As a result, this government is helping to create a very unhealthy culture. It has created a generation of Malaysians who are unappreciative of government's help and assistance. Abu Said Mohamed should be made to pay back the grant amounting to almost a billion ringgit. This money belongs to the people.

It is pertinent for Barisan Nasional to not only fix this culture of ungratefulness and free loading, it should fix its broken political and governance system. Barisan Nasional is not only a broken coalition but it is also unable to reverse its slide into a slippery political oblivion. 

Without fixing its political culture which promotes and uses patronage, grants, money and titles it will reach a point of total breakdown. When this happens, the coalition will be consumed and destroyed by its own follies. 

The sale of Maju expressway is yet another proof that Umno has changed very little. Public accountability is still not in the party's vocabulary. 

The inability or unwillingness of other component parties to help persuade Umno to change is going to sign their own death warrant in the next general election. 

If Mahathir says MEX sale is bad, it should stink sky high!


Anonymous said...

It is an on going process of " privitizing profit, socialising losses " policy of BN under Mahathir. Malaysian tax payers are asked to fund all the initial capital input of monumental federal government's projects, with guarantee immerse benefit to BN's cronies and family members owned business if the project is successful through change of ownership, while if the project turned out sour, all tax payers are asked to continue shoulder the losses under the disguise of NEP. It is just part of an infamous chapter in our 50 years of nation's building history .

bruno said...

Khoo,the reason that Dr Mahathir is upset,is the way these stupid Umnoputras are running rampantly wild and crazy in big time corruption.During Dr Mahathir's time although he had a big cut of the corruption pie,he made sure that his supporters all had a taste of the pie.That is the reason Dr M was able to rule for over two decades with an iron hand.

Then let us take a look back at Datuk Harun.He had the same mentality like Dr M when it comes down to money.He made all his supporters happy.And his constituents irrespective of race can approach him for help,without getting turn away.That is the reason he was so strong,even up to the day he was arrested.

Nowadays,the modern Umnoputras keep gobbling up the whole pie among the privileged few,leaving the rest behind angry and dissapointed.That is the reason the doctor is angry.Angry that the stupid Umnoputras are too greedy to eat themselves to getting kick out of federal power and into the eight star Hotel Kamunting.

najib manaukau said...

Do you know why the grand son of the pariah from Kerala, the shenanigan Mahathir is upset with the deal ?
Abu Sahid Mohd. is expected to make a cool RM600 million and not his son and also the shenanigan is not getting a share of the loot. He started the whole ideal of robbing and stealing from the nation when he gave his son hundred of millions of the nations money 's, in the name of bailing a Malay out, especially in the name of NEP (Not Enough Policy) that he had hijacked as an Umno made Malay when he and his family were and are never Malays !
That is no the whole idea of NEP to make millionaires or billionaires out of the Malays.
Also these deceitful and corrupted scumbags and parasites from Umno are learning from him and getting bolder, wiser and with bigger appetite. Who is to be blamed and why are there so many Malays are against the corrupted regime to day ?
These scumbags and parasites from Umno and the shenanigan are not in the least worry that the Malaysia is becoming insolvent and will soon become bankrupt. They have stolen enough for them to live in luxury for many live times !

Anonymous said...

Dear Readers,

It is unbelievable that TDM is concerned that Abu Sahid will be making 600 Million Ringgit from the sale of this expressway. He may be very silent if the owner is his son. You remember, the sale of the health conglomerate by Mohzani to the Singaporean and he is dead mute.

He just cant see those not already aligned to him to make some money, The MAS pay-off is ok to him and that fell to his deaf ears.

He definitely had done some many good to the country but his character shown inconsistency and therefore a type of leader which we cannot trust in total. He does not walk his talk but rather prefers people to 'remember him as a nation saviour'. You see, when you grow old your expectation had run wild as wild as your wild imagination can be. Pity TDM his many words are not appreciated by many nowadays less and less would like to listen to him just now.

Anonymous said...

Mamak will complain just about every Malaysian who is not in his immediate family circle like son or daughter or grand children making billion of rinngits out of U.putra-BN government contracts. It is part of his personality.