What is the occupancy rate?

I would prefer to phrase this in a different question:

What makes Mustapha so keen to jump into this trade-off?
NAZA is definitely getting the better deal – No it is not a good deal – the taxpayers are getting ripped off!

Mustapa should study carefully what is Naza TTDI’s true intention of offering the deal. What makes Naza TTDI so keen in offering the deal?

If there are no tender, how do we know the exhibition centre is value for money? How do we know RM628 million is not too expensive or cheap. What about conditions and terms on variation order? Yes the building is RM628 million now. What is the possibility of cost padding through variation orders? Half way through, the building could cost RM1.5 billion or RM3 billion, who know. Who will be paying if cost escalates either deliberately or through unforeseen circumstances? I may sound negative, but is this not what happened to most of our projects?

Who said the government is getting the building free? The exhibition centre is paid for in exchange of state land that is dubiously prized.

Who is NAZA TTDI? What is so special and capable about them? Didn’t they grow filthy rich through thousands of APs given to them each year for umpteen years? So after APs, it is now premier state land. When is this bunkum going to end?

If there is a need for a new sports stadium, then the government could invite builders to build the new stadium with ideas on how to minimise the cost of the new stadium – e.g. service apartments, car parks, water facilities, restaurants, etc. This is what is happening for the new national stadium in Singapore – a PPP where the government literally gets a new stadium for free.

What Mustapha and his UMNO friends forget to tell you is that the PPPs we witnessed in Singapore, Australia, Canada, UK and the US have all been awarded based on OPEN TENDER. The tender that minimises public sector contribution wins the deal.

The NAZA case isn’t about them being a developer, or having the best ideas. It’s about bailing out a bumiputra company mired in debt, and which owes the Ministry of Finance hundreds of millions in unpaid import duties and levies. It is downright blatant, stupid and irresponsible – but then it’s the standard operating procedure for UMNO.

1. NAZA TTDI can issue unlimited bond with letter of support issued by the minister of International Trade and Industry as and when required

2. There is no limit to VO.

3. International Trade and Industry Ministry or MoF will take over the project if NAZA TTDI could not complete the project due to unforseen circumstances and NAZA TTDI will be refunded in full plus interest & will keep the land.

Once GTS is imposed, RM4.6 billion is peanuts

Dari budak kereta jadi Maharajarela AP. Dari Generasi ke Generasi, kini digelar pula Pemaju yang Handal kerana TTDI Jaya.

Apanya AP minta apanya didibagi Kerajaan. Kini dapat pula tanah yang berrjuta-juta pula.

Kerajaan terus bagi kerana kononnya kata Menteri berkepala tapi tiada Berotak, “sama sama kita beruntung atas prinsip Public-Private JV punya”.

Katanya pula, Menteri berkepala tapi tidak berotak, “kita dapat MATRADE FREE berjumlah 628 juta”

Tetapi apa yang nak ditanya, Jika FREE mengapa tanah sudah dibagi? Betulkah tanah di Malaysia free? Itu yang nak ditanya-tanya? Siapa boleh beri jawab? Itu tidak kesah, kerana telah dijawab oleh YB Menteri berkepala tapi tidak berotak.

Betulkah MATRADE itu 628 juta? Ini jaga ditanya kerana OSA sudah siap berada.

2. Can MOF guarantee any bond when the major, if not the whole, part of the Project was not even approved by the Parliament?

3. Since MOF approved 4.632b soft-loan in July 2007 and only agreement of 920m was signed by PKA in 30.6.2008, balance 3.712b. Does that meant the Government has to issue bonds in US before they can provide the soft-loan?

4. The 3 “Minister’s letters” had cause the issue of 4.6b bond in Malaysia, the MOF is now saying that they will honour it!
a) Can MOF honours those 4.6b bonds?
b) Is the Government trying to issue bond to honour this bond?

5. Since the project has not gone through the proper procedures in the Parliament, at those beyond the initial 1.8b, the Government is beyond the Power to saying anything beyond 1.8b, even if that 1.8b is properly approved, but doubted!!

This shows that the Creditability of the Government is down to earth in Malaysia. And, they continue to override the limitation or the legitimacy of the PKFZ project.

The Parliament should issue an Emergency Warning to the Cabinet!!

What is relevant here is, any one believe in the Minister reply that the MATRADE center is free gift free NAZA? Another minister with the head on but with no brain. In this world there is nothing free.

We are talking about giving out free land. Now this genuinely free this time because only government of the day can offer free. But when you look deeper it is no free either. Instead of saying free we rather say it does not involve cash out lay. Anyway, the prime land has huge value on it and this is how NAZA will get it for free in the real sense.

Next, whether the MATRADE center can have that 628m value is for all to guess and nobody can know and OSA can always be used to say the pricing is OSA . So we can’t really know how much it cost. It simply come free a minister with the head on but no the brain.

So NAZA is reputable developer? Any taker? Left it to the Wiseman on street to judge.

Malaysian has short memory right? Remember the MATRADE that was already there. What has happened after all the money gone with the bankrupt developer? It that MATRADE no big enough or simply they need another project to milk money for the next GE? This is the most important question to answer.