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Showing posts with the label Losses

Why thank the thieves?

This article was earlier published in TheAntDaily.com on 20/10/2013 When thieves stole our money, are we going to say thank you to these thieves? Sounds crazy, isn’t it? This is the case of the petrol subsidies which have been taken away little by little from our people by the Barisan Nasional government. When people are complaining of an increase in inflation following the rise in the petrol price recently, Deputy Finance Minister Datuk Ahmad Maslan, who is also the Umno information chief, came out in defence of the government by saying that the people did not even thank the government when there are subsidies for the petrol all this while. Yes, no one thanks the government, the BN coalition or even Umno for the subsidies that the people had enjoyed all this while. First of all, why should we thank the thieves? The BN government, Umno and Ahmad should understand the basic roles and responsibilities of a government. When you give subsidies to all of us, we do not ...

Ex-MCA president freed. Who's the real culprit then?

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Former MCA president and former transport minister Dr Ling Liong Sik was today acquitted the court of all charges against him in the much publicized Port Klang Free Zone (PKFZ) scandal which had cost the government billions of Ringgit in losses. Then, the question here is, who is the real culprit? Why was the probe only focusing on Dr Ling and not the other parties who are also involved in the PKFZ dealings, be it directly or indirectly? The contractors, sub-contractors, as well as those minor contractors at large, business connections, other powerful people behind the scene, why weren't all these elements taken into consideration during the probe. Another former transport minister Chan Kong Choy who is also the former MCA deputy president was also reported to be part of the PKFZ deal during his tenure in the government. Why was his case yet to be heard? Perhaps the Attorney-General's Chambers had forgotten. So does the Malaysian Anti Corruption Agency (MACC). Besides Ch...

MAS lost RM2.5 billion. Sell it off and privatize it!

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Malaysia Airlines (MAS) recorded a stunning net loss of RM2.52 billion for 2011 and the company is now in “crisis”, the national flag carrier said today. The carrier also confirmed that the losses for the 2011 financial year were the largest in its history. The airline reported a massive net loss of RM1.28 billion in the fourth quarter, which was about as much as the first three quarters combined. “The company is in crisis,” CEO Ahmad Jauhari Yahya openly admitted in his statement today. For so many years, MAS has indeed suffered losses continuously and last year, its performance was the worst in history. It clearly shows that the nation's carrier has been badly managed, overstaffed and its management as well as workforce has no productivity at all. Why? It is because the entire organization itself is full of politics, cronyism and opportunists. In fact the entire board of directors of MAS should resigned en bloc to pave way for an extraordinary general meeting (EGM). Khazanah Nasi...

Keng Yaik resigns as Gerakan advisor

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Former Gerakan president Tun Dr Lim Keng Yaik today announced his resignation as the party advisor and immediately attacked his successor party president Tan Sri Dr Koh Tsu Koon for his weak leadership as well as his failure to resolve the leadership crisis in the Penang Gerakan. Besides, Dr Lim also said that Dr Koh as Gerakan president had always avoid conflict resolution and instead choose to be a good man for all sides, therefore failed to tackle the conflicts arise which had by now being transpired into an open revolt. We wish to informed Dr Lim that Dr Koh is his chosen successor and should take the partial blame for the failure of the present Gerakan leadership and the party's dismayed performance in the last general election which also saw the party losing its power base to the Pakatan Rakyat. During the intense factional rivalry in Penang Gerakan few years ago, Dr Lim as the then party president had choose to side Dr Koh for the state chairmanship instead of the much stron...

EPF dividend for 2008 a mere 4.5%?

According to Malaysiakini recently, Employees Provident Fund (EPF) contributors must brace themselves for some bad news - EPF is expected to declare a mere 4.5% dividend for 2008. Where did all our investment savings went to? The finance ministry and the federal government must explain to the people, particularly the workers on the losses that EPF had incurred last year. The finance ministry and federal government must also explain to us the investments, loans and bail outs that they made in the interest of certain people.