The company also reported accumulated losses of RM155,376 as at June 30 last year.
Lim asked: “This must be a record for a company with a RM150,000 paid up capital to carry out a RM23.9 billion project.”
“Can a company of that size take on such a big project?”
Yes, why not? I too can do it, with one ringgit, provided I am assured of government (read that as taxpayers') rescues and bailouts if I ball it up and perform the work badly. Why worry and who cares – it’s only public money.
However, whether it is wise or proper governance by an elected government to allocate a mega billion ringgit project to a such a pathetic (loss) performing company, who incidentally hasn’t even conducted any environment impact study yet, is the question we are all wondering and fuming about though hardly surprised at all.
After all, this is Malaysia, or rather UMNO’s Malaysia.
And read Who benefits directly from PORR? and bloody weep!
Lim also brought out the names of the directors of the loss-making company, one of whom is Osman Aroff, the former Kedah Menteri Besar.
I remember him as one of the three Kedahans who not only deserted but stuck it deeply into Dr Mahathir when the Grand Olde Man attempted to stand for party election as a delegate to the UMNO general assembly recently.
I said of him in a previous posting Et Tu Baharom:
Former Kedah Menteri Besar Osman Aroff, for whom Dr Mahathir had created a special post when Osman was ousted as the state MB, told delegates in his speech that Mahathir had a track record of causing disarray in UMNO and thus should be rejected as a delegate.
He said: “We must remember it was because of Dr Mahathir that Umno was de-registered in 1987. It was also he, who chose to fight with his deputy (Anwar Ibrahim) in 1998. Such is Mahathir's record.”
Osman averred that if the delegates elect Mahathir to represent them, it would indicate that UMNO Kubang Pasu was against Abdullah.
Well, looks like he has been rewarded by AAB.
Is there a moral somewhere here?
For Brutus, as you know, was Caesar's angel. Judge, 0 you gods, how dearly Caesar loved him. That was the most unkindest cut of all.
- Julius Caesar: Act 3, Scene 2 - William Shakespeare
Maybe it ought to be rewritten as:
For Brutus, as you know, was Caesar's angel. Judge, 0 you gods, how dearly Caesar loved him. That was the most unkindest but most profitable cut of all.
How come no Anwar in this company? :)
ReplyDeleteThat's for tomorrow ;-) be patient, all good things come to those who wait =
ReplyDeleteThis pipeline project stinks from the day it was announced.
ReplyDeleteFirst, does it make economic sense ? Unloading millions of tonnes of crude oil at Yan, pumping millions of tonnes of crude oil up, then down the Main Range, loading millions of tonnes of crude oil on to other tankers. If the Malay Peninsular was 3,000 kilometers long, it might make it worthwile, but the round trip saved from Yan, Kelantan to Bachok, Kelantan is only about 1,200 km.
I don't know the answer, but my digging doesn't show that anybody in power has done a detailed analysis on this.
2nd, Environment impact assessment.
Building a crude oil pipeline through rainforests, including the Belum area - the most direct route cuts through the Royal Belum park -
right through the catchment areas of the Perak River and Kelantan river.
I thought the EIA had to be approved first ? Again, it looks like the authorities consider it just a formality.
What if, after billions have been spent on the Malaysian oil pipeline project, Thailand decides to go through with its Kra Canal? Will the Malaysian govt declare it as an act of God or an act of war?
ReplyDeleteIf it were to be war, I don't think the Malaysian armed forces can last 6 days against the Thais
What, no Anwar commentary today ?
ReplyDeleteYou are losing your touch, KT.
We want more Anwar posts...We want more Anwar posts...
If the Thais proceed with the Krai Canal, I propose that the Government built a gigantico propellor engine about the size of 40 KLCC towers and place them along the Thai-Malaysia border. Well, we can leave Perlis behind really since there is not much going on there anyway. With the Gigantico Propellor, Malaysia, sans Sabah and Sarawak (and Perlis) can set sail and finally be free of the Asian continent. I don't think the other inhabitants of the continent would mind really. Imagine, coasting from climate to climate to suit our preferences. If you want snow, we will head to the North Pole. If you want a Mediterranean siesta we will head to the Mediterranean itself. We can visit Israel and lay anchor a couple of miles offshore and see the wonderful firework display by the Israel Defence Force and Hamas. How thrilling.
ReplyDeleteIn order to run the Gigantico Propellor the size of 40 KLCC towers, all the Malaysian petroleum wells will be pumped dry in a week. Then we will have to import more oil and the petrol price will go up by RM30 a litre.
ReplyDeleteAnd if we were to opt for nuclear power to run the propellor, the Americans will see us as the next Iran and bomb the shit out of the country. In the end we all would have to migrate to Antartica where there is no need for visas.
Not if we dock the good ship HMS Peninsular Malaysia right next to San Francisco or New York, they won't. Then we can be the 51st state of the Union and finally get to be part of an electoral system that actually works and cannot be rigged. Oops, I forgot about Jeb Bush, Fox Network and the rest of the gang. Hooray, it will feel just like home after all!!
ReplyDeleteOsman is just being opportunistic in deserting Dr Mahathir ; I bet if Dr Mahathir comes back to power and helms the country again, the bugger will not hesitate to address Dr Mahathir as daddy!
ReplyDeleteBut if we dock the good ship HMS Peninsular Malaysia right next to New York, Osama's next group of suicide-hijackers might mistook the Petronas twin towers to be America's latest towers. Then kaboom! Malaysia's highest towers will crumble into New York Harbour and the Americans will take us to court for clogging up their biggest port and fine the shit out of Malaysia.
ReplyDelete