Thursday, December 25, 2008

Wheeling And Dealing:Who wins ?

Hantu Laut

First, the proposal for Sime Darby to takeover IJN , than big public outcry, government pulled back.Than, new airport for low-cost carrier to be built jointly by Air Asia and Sime Darby at Labu, Negeri Sembilan.Now, TNB wants to buy back Malakoff's Kapar IPP coal-fired power plant for around RM2.9 billion.The plant was previously owned by TNB but sold its 40% stake to Malakoff in 2004 for RM1.68 billion.If TNB buys only 40%, who holds the other 60%?

These boys have fantastic foresight and business acumen which goes as far as the tip of their noses.They are going to pay almost twice the price to buy back what they saw as a liability hardly four years ago. Hoi ! Ada udang di sebalik batu ka! Pak Pandir!

Lately, the government seems to be making many announcements of this and that, are those projects really going to take off or just to show the people they are doing something - right or wrong, doesn't matter, as long as they appear to be busy.

Some of you would still remember the big bullshit employed by some of our public-listed companies going overseas and claimed to have secured huge contracts under MOU (Memorandum of Understanding), which legally is not considered a binding contract.The whole idea was just to lie to the public to boost the share price.Most of the projects never materialised

Either it is just hot air or somebody is wheeling and dealing hoping to make a killing.


Anonymous said...

if the govt is led by members who are flagrantly engaged in money politics, what do you expect from them? Integrity and transparency and good governance? you must be kidding.

Anonymous said...


Cepat2 ada 3 bulan lagi.........

Lepas itu, let see if we need to "refresh" the transition plan agaim.


Anonymous said...

Bos, Ini Christmas Shopping la. You know, as the old man was more or less forced to exit, he has to look inside the PM's drawer as fast as possible to see what are there left to plunder.
You can see from his style, bah. No one seems to listen to him now as they all know he's leaving. He has been mumbling with all sorts of statement but no ooomph. So like the IJN case, he was forced to pull out in the same speed as he tried to rope in, all in the rush. That's his style..

donplaypuks® said...

Triple Rape, Gangalnd style. Only in Malaysia!! Rememeber this comes after TNB has paid Malakoff billions over the years as an IPP for excess electrcity it has never required.

If Malakoff is in financial trouble, let it sink and TNB can then buy it back for a song, not $2.9 billion.

But, I reckon this has everything to do with the over-inflated prizing for a loss making airport down south where the same related party paid cash to avoid SC scrutiny of land valuation. Now they need to recover cash and TNB is again the whipping boy. If that fails, they will gangbang EPF!! Watch this space.


SM said...


What do you expect form this Corrupted & Racist Government?! As long as UMNO is in power, nothing will change...look they can't even clean their own backyard (Money politics in UMNO)...what more is there to say?!

Anonymous said...

The vote buying in UMNO elections confirms that The Government they will form will continue to be corrupt. tHE INVESMENTs they made must somehow have payback. Where else can they get them from if not from the government.
Remember, UMNO doesn't have the right to rule forever. WE all need fair and clean government.