That is what happens on Budget day every year.

It is so blatant that the UMNO players never made any effort to hide their identities. Of course, the MCA being what they are, crumbs are all that it took to secure “cooperation” from the Transport Ministry. When the thieves are now caught with their hands in the cookie jar, they look at you straight in the face and say “so what ?”.

A thief chased and caught by a group of Malaysians after he snatched a woman’s handbag turned out to be a policeman, a newspaper said on Tuesday.

Bystanders gave chase on hearing the screams of a housewife at a coffee shop in Ipoh, capital of the northern state of Perak, when the thief grabbed her handbag, the New Straits Times said.

The man was taken to a police station, where a check of his identification papers showed he was a policeman.

Perak police chief Zulkifli Abdullah confirmed the suspect was a policeman, but declined further comment, saying police would investigate,

There is no cause for paying RM25psf. They would have to sell it RM40 psf at least to break even and with the debt, its probably even more now. When completed factories in Shah Alam cannot sell for more than single digit psf, this is just gross….

That aside, what is noteworthy about PKFZ is that it is not a case of some minister and officials, Acting Fully Within Their Powers, jurisdiction And Authority, making decisions in support of crony companies and their unviable or infeasible projects at the expense of the national coffers.

This is a case in which according to Kit’s posting here the issuance of 4 “letters of support” by Transport Ministry for the benefit of turnkey contractor – Kuala Dimensi Sdn Bhd (KDSB) – to raise RM4 billion bonds and get an AAA rating from the Malaysia Rating Corporation Bhd (“RAM”). was “unauthorized” in the sense of they not having been properly sanctioned by the Ministry of Finance, as would have ordinarily been the case! Even the purchase of the 1000 acres land at RM25 psf on a “willing seller, willing buyer” basis from KDSB was over the objections of Treasury and the Attorney-General’s Chambers who wanted the land to be acquired “for public purpose” under the Land Acquisition Act at RM10 psf.

In other words, at every step of the way, decisions were made by ministerial/government officials outside their proper jurisdiction and authority which made every of such decision irregular and tainted with illegality (ultra vires).

What is surprising is that in proceeding to bail out KDSB, the government is giving the unmistakable signal that it will condone and ratify acts of ministerial/government officials that are outside their respective jurisdiction, powers or authority – in other words again, condone illegality and irregularity within its own rank.

This is bringing scandal to new high.

Then all these third parties – ranging from bondholders, investors, rating agency, RAM and the banks – the message here is that they don’t have to exercise due diligence or prudence ; they could just get a financial recourse from public funds relying on any letter of support (whether for comfort/awareness purposes only or a guarantee or indemnity) or representation illegally and irregularly issued outside their powers and jurisdiction.

When will they learn how to act professionally to safeguard investors and depositors’ interest when they are not held accountable to examine whether the exercise of ministerial/official decision (by way of issuing unauthorised letters of support) had been proper and regular?

Everyone takes a lackadaisical approach because they are not doing the paying and the burden is always shifted to the ultimate sucker – the tax payers and their heirs.

In this country that breed anacondas that swallows by the billions,pythons that swallows by the millions, bull snakes by the thousands or hundreds of thousands and the worms like the mata mata, enforcement officers, clerks and even office boys wriggling around to suck some dollars.

All these are known to every Malaysians, including all UMNO Big Wigs who only try to escape by using the denial tactics. The Sleepy Head has taken us for a spin for promising us heaven but giving us hell. The recent budget is obviously a vote buying budget.
Unfortunately most kampong folks and villagers will not be able to analyze all these.

The bull shitter has been telling that the opposition caused trouble because they were not able to bring any developments to Trengganu while in power for 5 years.That theory is loaded with bull shit judging from what he has done during his almost 5 years in power. Why is there no riot in the country? If his theory holds good the country should be already torn to shreds.

Their approving authorities and officials need to be sacked for negligence or for stupidity or perhaps both.

And they don’t deserve to be rescued.

Wake up Bank Negara.

Let us see the actual words contained in this “Letter of Support” to determine if it is merely a “Letter of Support”.

The wordings should clarify whether it is merely a “support”, guarantee, indemnity or whatever they might want to call it in the future.

Remember how even Bank Negara tried to cover up Nor Mohd Yakcop’s RM 30 billion over losses by using deceptive words and classifying them differently? What a big deception it was until somebody got wise to it.

Uncle LKS

You are not the only one who is disappointed. I believe majority of the Malaysia is.

Don’t talk about acid test. “Urine” test he also cannot pass.

http://www.youtube.com/watch?v=OROveFdp7Cs

It’s pure reflection of Bangsa Malaysia