Hantu Laut
Today, Suria Capital Holdings Bhd proudly announced its JV with SBC Corporation Bhd to develop Jesselton Quay to the tune of RM1.8 billion in net sale value. Both are public listed companies on the KLSE, one bumiputra dominated and the other Chinese dominated. Suria's asset base is bigger than that of SBC.The story here.
It's the same old story with most GLCs, they can't do their own things, forever will never learn the trade, or run a proper business of their own. They will always run to the Chinaman to do the business for them.
It is time that all bumiputra individuals, enterprises and GLCs grow up, learn to take risk and do their own things.
The biggest culprits are GLCs run by bumiputras who do fuck all, give everything to the Chinaman to do under JV scheme, where greater part of the profit will go to the Chinaman and the government agency landed with teeny-weeny portion of the profit.
All over the country the same stories are being repeated year after year and the bumiputras never got to learn the trade and they are happy not to, doing so mean having to do extra work.
I have seen over the years that I have been doing business here and in Peninsula Malaysia almost every GLCs over there and in Sabah with prime land in the middle of the city do JV with Chinese businessmen to develop the land that they got for nothing from the government .
For the happy Chinaman the land cost is zero and the risk is almost zero, all they have to do is provide the building plans, raise the financing, appoint the contractor and market the properties and all the costs are paid for by the project, while the so-called high calibre bumiputra management team sit on their arses and enjoy the big fat salaries and perks for doing nothing.
Is it that difficult to be a developer like the Chinaman?
All Chinese businesses had humble beginning, start from the bottom and build their way up, they don't go to college to learn to be a contractor or developer. It's a learning process that takes years through experience and exposures. Some will succeed and some will fall by the wayside, but that the risk you have to take doing business.
It is a great shame that with such prime land and a bankable proposal the bumiputras still can't undertake the project on their own.
Name it, SEDCO, SUDC, Warisan Harta Sabah and many others, there is always the indispensable Chinaman in the midst.
Maybe, the government should employ only Chinaman to head every GLCs, so all the profits can stay with the company.
It's obvious without the Chinese the economy of this country is fucked.
Today, Suria Capital Holdings Bhd proudly announced its JV with SBC Corporation Bhd to develop Jesselton Quay to the tune of RM1.8 billion in net sale value. Both are public listed companies on the KLSE, one bumiputra dominated and the other Chinese dominated. Suria's asset base is bigger than that of SBC.The story here.
It's the same old story with most GLCs, they can't do their own things, forever will never learn the trade, or run a proper business of their own. They will always run to the Chinaman to do the business for them.
It is time that all bumiputra individuals, enterprises and GLCs grow up, learn to take risk and do their own things.
The biggest culprits are GLCs run by bumiputras who do fuck all, give everything to the Chinaman to do under JV scheme, where greater part of the profit will go to the Chinaman and the government agency landed with teeny-weeny portion of the profit.
All over the country the same stories are being repeated year after year and the bumiputras never got to learn the trade and they are happy not to, doing so mean having to do extra work.
I have seen over the years that I have been doing business here and in Peninsula Malaysia almost every GLCs over there and in Sabah with prime land in the middle of the city do JV with Chinese businessmen to develop the land that they got for nothing from the government .
For the happy Chinaman the land cost is zero and the risk is almost zero, all they have to do is provide the building plans, raise the financing, appoint the contractor and market the properties and all the costs are paid for by the project, while the so-called high calibre bumiputra management team sit on their arses and enjoy the big fat salaries and perks for doing nothing.
Is it that difficult to be a developer like the Chinaman?
All Chinese businesses had humble beginning, start from the bottom and build their way up, they don't go to college to learn to be a contractor or developer. It's a learning process that takes years through experience and exposures. Some will succeed and some will fall by the wayside, but that the risk you have to take doing business.
It is a great shame that with such prime land and a bankable proposal the bumiputras still can't undertake the project on their own.
Name it, SEDCO, SUDC, Warisan Harta Sabah and many others, there is always the indispensable Chinaman in the midst.
Maybe, the government should employ only Chinaman to head every GLCs, so all the profits can stay with the company.
It's obvious without the Chinese the economy of this country is fucked.
