Archive for November 26th, 2009

PAC must act fast – prevent another multibillion-ringgit Matrade 2 scandal after the 10-year RM287 million Matrade 1 scandal

Posted by Kit in Corruption, NEP, Parliament on Thursday, 26 November 2009

The Public Accounts Committee (PAC) must act fast – prevent another multibillion-ringgit Matrade 2 scandal after the 10-year RM287 million Matrade 1 scandal.

The PAC had previously held several meetings on the Matrade 1 scandal, but they were of no practical relevance or consequence as what the PAC did was to lock the stable door after the horses had bolted.

As far as I know, not a single sen had been recovered by the government despite solemn assurances in Parliament by the Ministers concerned to pursue legal actions and penalties against the defaulting parties – with the Umno cronies laughing all the way to the bank with their ill-gotten multi-million ringgit NEP gains.

In the first Matrade scandal, the 24-storey Matrade building took some 10 years to be completed at a RM120 million cost overrun resulting in a final cost of RM287 million, i.e. at over 70 per cent of the original estimates of RM167 million. For years, the cracked façade of the incomplete Read the rest of this entry »

14 Comments

Before telling the world the true Malaysian story, let Malaysians know the truth of what is happening in Malaysia – beginning with the story of Altantuya C4 murder

Posted by Kit in Najib Razak on Thursday, 26 November 2009

In his recent visit to New York, the Prime Minister, Datuk Seri Najib Razak said Malaysia’s message of reforms and transformation needs to be told to foreign investors consistently or risk being overshadowed by countries like China and other emerging economies.

First things first. Najib should allow the true Malaysian story to be told to Malaysians first or the credibility of the Malaysian story to global investors by Najib’s spin doctors would come under a great discount.

In the era of instant communications, it is both imprudent and self-defeating to believe that it is possible to mislead global investors about what is happening in the country.
Read the rest of this entry »

26 Comments