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.
