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Thread: Can we Trust UMNO - The economics of legal plunder - Sakmongkol AK47

  1. #11
    Join Date
    Oct 2008

    Can we Trust UMNO - The economics of legal plunder - Sakmongkol AK47

    The economics of legal plunder — Sakmongkol AK47

    July 16, 2012

    JULY 16 — Is Mahathirism dead? Not by a long shot. It’s not up to Dr Mahathir Mohamad to say whether Mahathirism has ended or otherwise. It’s not a simple case of unsaying it.

    The cancer has spread to stage 4. It’s the SOP that has been institutionalised and the successors are following them.

    I like the way Tony Pua graphically puts it. When you wake up and eat the nasi lemak, you are making Syed Mokhtar richer because he controls the import and distribution of rice.

    This is the kind a monopoly, if ever it’s going to be treated such, that must be in the hands of the government. Otherwise, free the market by allowing traders to import rice.

    You drink your coffee with sugar coming out from Syed Mokhtar’s monopoly on sugar. He controls 20 per cent of MSM and 80 per cent of CSR. We will have to tell the imbecilic Barisan Nasional leaders not to suggest the lowering of sugar price by way of lowering personal consumption. Tell them the way to control the price of sugar is to eliminate monopoly in sugar trade.

    You ride the Modenas scooter? It’s built by him with the licence given by the government. I have always believed that if you licensed the Chinamen in Sungai Besi, they would have built better motorcycles and cars and sold them to us for less money.

    You drive through the Smart tunnel — it’s built by MMC-Gamuda, again owned by Syed Mokhtar. MMC is owned by Syed Mokhtar.

    You want to cook using gas from Gas Malaysia? Syed Mokhtar.

    You use the electric cooker and the electricity is supplied by Malakoff, owned by Syed Mokhtar and, previously, owned by Dr Mahathir’s son.

    You upgrade from motorcycle to a Proton car — it’s owned by Syed Mokhtar. Honda? Syed Mokhtar’s.

    Umno is Syed-Mokhtaring Malaysia! You want to embark from the Port of Tanjung Pelepas to go to Indonesia? It’s owned by Syed Mokhtar.

    Treated water in Johor — owned by Syed Mokhtar.

    You want to fly off from Senai Airport? Well, Syed Mokhtar bought the airport for RM580 million and paid RM1.2billion for the surrounding land.

    Syed Mokhtar owns MMC and also owns a part of Senai Airport. He was buying Senai from himself and who’s going to tell that maybe he overpaid himself?

    The RM1.7billion purchase was mired in controversy over the pricing of the deal.

    The list goes on and on. No, is not a case that a Malay can’t have all this.

    If Umno can only come up with Syed Mokhtar to showcase its Bumiputera success story, then its policies on Malay economics have failed.

    On the other hand, it also proves that if Syed Mokhtar can do it, so can any average Mamat provided you give the same help and assistance.

    What is the essence of economic Mahathirism? It’s the deliberate use of government power to pick and choose winners in an economic race.

    Through the power of government, you give licences, exclusive awards, monopolies.

    You use the government to impose regulations that confer advantages to one group over all others. This is why Umno wants to retain power at all cost. Without the power of government, Umno is nothing.

    Dr Mahathir didn’t believe in the New Economic Policy (NEP) and the Malays better believe that.

    The NEP would have called for the organic growth of the Malay economy instead of what Dr Mahathir started in 1981. That way, Malay businessmen and economic agents would have travelled the learning curve, acquired the values and skills needed as economic agents.

    Since 1981, because Dr Mahathir thinks the Malay economy would suffer slow growth, he eschewed the NEP and replaced it with a policy of creating a select group of Malay elite businessmen.

    The government is the policy maker. The Malay economy is to be driven by a select few. It’s the beginning of central command economics.

    That select few, he took from a limited pool of acquaintances and crony circle. The result: The emergence of Joseph Mengele’s the Boys from Brazil — blond haired and blue eyed genetically manufactured businessmen elevated as the catalysts of Malay economy.

    Now you see why Umno must defend its hold on government at all cost? Umno is using the government to plunder the economy.

    That same kind of thinking — imposing government onto economic development is continued under Najib Razak.

    What have we done actually? What we have done is to allow the government under Najib to come into our homes, take money and valuables belonging to us while claiming all the wonderful things he’s going to do with our property.

    He takes our economic rights to be given to a select group of cronies, just as Dr Mahathir has done. Frederic Bastiat, the French economist, would easily call it legal plunder.

    What has Najib done? His ETP components, entry point projects, PDPs, etc, are all bridge-to-nowhere projects that allowed: 1) the few to plunder the many and, 2) everybody to plunder everyone else.

    Number 2 above means everyone seeks to use government to enrich himself at his neighbour’s expense.

    Najib’s government is, therefore, a fiction through which everyone endeavours to live at the expense of everyone else.

    Remember when he said taxi drivers who drive using someone else’s permit operate under an arrangement tantamount to modern slavery.

    Jangan cakap sahaja lah. Come out with the list of the slave owners.

    If taxi drivers are modern day slaves, there must be modern slave owners right?

    That’s why he says direct permits will start in two years’ time, allowing his buddies who owned the permits to make adjustments. —

    * Sakmongkol AK47 is the nom de plume of Datuk Mohd Ariff Sabri Abdul Aziz. He was Pulau Manis assemblyman (2004-200.

    * This is the personal opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insider.

  2. #12
    Join Date
    Oct 2008
    The al-Bukhary story

    [COLOR=#707070 !important]CT Ali
    | October 30, 2012
    An embarrassment of business opportunities, political patronage and debts. The Syed Mokhtar al Bukhary story.

    Syed Mokhtar al Bukhary is like a king? First it was FLOM and now it is SMIK? (Syed Mokhtar is King).What will our king have to say about this pretender to his throne who also happens to be a tycoon – something which our king is not.

    All this came from that MP from Kinabatangan, Bung Mokhtar Radin.
    The first question I want to ask of this Sabah Umno leader is why has he got his beady eyes trained on this Syed Mokhtar guy?

    I am no fan of Syed Mokhtar but why is Bung Mokhtar breaking ranks with Prime Minister Najib Tun Razak in the same way he did with Shahrizat Abdul Jalil – and you know what happened to Shahrizat after that.

    Or is Bung Mokhtar taking a position to the rear of Najib’s unprotected left flank ready to do battle against Najib?

    Or has Syed Mokhtar done a Abdul Razak Baginda on Bung Mokhtar?

    Remember what Razak Baginda did to Altantuya Shaariibuu? He did a runner on her once he was in the money! Did Syed Mokhtar not deliver on what he promised Bung Mokhtar?

    There may be loyalty amongst thieves but amongst politicians it is a scarce commodity. Today Najib, tomorrow Muhyiddin Yassin. Today one wife tomorrow two. This is the stuff Barisan Nasional MPs are made of… deceit, duplicity, greed, arrogance, large doses of libido and a misplaced self worth.

    But Bung Mokhtar’s life is just a little sandiwara as opposed to the operatic saga that is Syed Mokhtar’s. Is Syed Mokhtar too big to fail? I think the adage that when you owe the banks billions, your continued success in business is as much the banks’ interest as it is yours rings true with Syed Mokhtar.

    Colossal debts

    This is Halim Saad all over again. Shades of Amin Shah creeps into the picture while Tajuddin Ramli smiles at the irony of it all – another bumiputera businessman doing his national service the hard way – raking a debt of RM34.3 billion courtesy of his political masters aka Umno. There are countries in Africa that have gone comatose with debts less than that.

    This all too familiar comedy of bumiputera businessmen doing business the Umno way is good for a laugh if not for the real tragedy that will befall our nation when they fail. And fail he will.

    RM34.3 billion buys a lot of coconuts but what does he do with RM34.3 billion worth of coconuts? What do you do with RM34.3 billion worth of debt? And so Syed Mokhtar has a lot of troubled companies in his stable and counting. When does he stop, how does he stop and when will Umno allow their cash cow to stop accumulating debts?

    When will Umno ever learn? Some very rich Malay now becomes richer as his political patron makes him richer in order for this very rich Malay to pay for his political patronage.

    Very soon no political solution can be found to resolve the RM34.3 billion debt he has incurred. His ability to manage his political patron it is not matched by his ability to manage his RM34.3 billion debt. Soon the very rich Malay fades to obscurity… preferably somewhere abroad.

    We have seen this comedy of errors enacted many times before in companies and businessmen linked to Umno. With very rare exception, the Chinese businessman who profited from political patronage goes from strength to strength and at times even from one prime minister to the next one.

    Not the Malay businessman. He has an embarrassment of business opportunities thrown at him by his political masters. Even more than what he, his family, his relatives and friends can handle – even his driver too. The banks are tripping over each other in offering him more money then there are PAS supporters in Kelantan. And still in the end they all fail.

    An embarrassment of business opportunities, an embarrassment of loans on offer and an embarrassment of debts – all too familiar a scenario with Malay businessmen who owed their fortunes to political patronage.

    His debts are our debts

    When they fail, the consequence of their failure is felt by you and me because it is our money and our opportunity to business that he has been playing with – not his. So his debts are our debts and we end up paying for it.

    For good reason, we should remember Renong whose debts was about RM20 billion or 7% of loans in the banking system 14 years ago, far less than the risk posed by Syed Mokhtar’s business. Renong failed and Renong’s bankruptcy caused hundreds of millions in losses to investors, the collapse of the stock market and a RM10 billion government bailout!

    Lunacy in any person is distressing but in our leaders it becomes distressing and at times dangerous. Is it not the height of madness to allow another Renong to happen?

    Is it not the act of a lunatic to select Syed Mokhtar’s Seaport terminal to take the Finance Ministry- owned Penang Port Sdn Bhd (PPSB) private when it’s owner, Syed Mokhtar, already has a total debt of RM34.3 billion?

    It seems that again, this government has not learnt from past mistakes. We have!

    CT Ali is a reformist who believes in Pakatan Rakyat’s ideologies. He is a FMT columnist.

    Also read:
    Umno’s chief crony
    Perkasa defends Syed Mokhtar
    Bung Mokhtar hits out at Syed Mokhtar, Zeti

  3. #13
    Join Date
    Oct 2008
    Watch this carefully. This is the Mugabe formula. Concentration of all businesses under one hand.

    ‪Saya nak makan nasi lemak, beras dibeli dari siapa?!
    BERNAS!! …….. BERNAS milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!
    Makan nasi lemak, takkan tanpa minuman, so order …… kopi o!
    Air …… buat kopi, jika tinggal di Johor beli dari Aliran Ihsas Resources,
    milik siapa? Tan Sri Syed Mokhtar Al Bukhari!

    Minum kopi ……. mesti campur gula! ………. Gula di Malaysia,
    dua pengeluar sahaja MSM & MSR,
    MSM milik felda, 20% saham dimiliki Tan Sri Syed Mokhtar;
    MSR milik TanSri Syed Mokhtar sepenuhnya!

    OK, cakap banyak sekarang nasi sudah sejuk, mahu panaskan! Guna gas stove,
    Gas Malaysia milik siapa? Tan Sri Syed Mokhtar Al Bukhari!
    Guna microwave oven, …….. elektrik, TNB
    beli elektrik dari siapa? IPP!
    IPP terbesar di Malaysia Malakoff,
    milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!

    Sekarang tak nak makan nasi, pergi McD sahaja la...
    naik motor! …….. Motor Kriss,
    keluaran MODENAS! Modenas milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!

    Tak nak naik motor, naik kereta!
    Kereta apa? ……. Proton! Proton
    milik DRB HICOM! DRB HICOM milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!

    Tak nak beli Proton la…… Beli Honda saja...
    Honda Malaysia milik siapa? Tan Sri Syed Mokhtar Al Bukhari!

    Beli kereta nak buat pinjaman perbankan islam, pergi Bank Muamalat!
    Bank Muamalat milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!

    Kereta kena ada insurans coverage! Insurance ……… beli dari siapa?
    Uni Asia Insurance! Uni Asia milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!

    Nak ambil road tax, kena pergi PUSPAKOM!
    Puspakom milik siapa? Tan Sri Syed Mokhtar Al Bukhari!!

    Ok la tak nak naik kereta! Naik keretapi lagi senang!
    Landasan keretapi siapa buat?! …… MMC!
    MMC milik siapa?! Tan Sri Syed Mokhtar Al Bukhari! Sekarang, dia pun nak ambil alih

    Ok tak nak guna keretapi ambil kapal terbang saja la... nak pergi Johor!
    Senai Airport milik siapa? Tan Sri Syed Mokhtar Al Bukhari!

    Tak nak mbil keretapi, kapal terbang, naik kapal laut sahaja la...
    Pergi Pelabuhan Tanjung Pelepas! Tanjung Pelepas Port milik siapa?!
    Tan Sri Syed Mokhtar Al Bukhari!

    Tak nak pergi Tanjung Pelepas, pergi Johor Port! Johor Port
    milik siapa?
    MMC! MMC milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!

    Ok la... orang iKL, naik MRT sahaja la... (apabila siapa)
    Projek MRT, siapa kontraktor terbesar?! MMC!
    MMC milik siapa?! Tan Sri Syed Mokhtar Al Bukhari!!
    Macam ni la... tak nak keluar rumah langsung! Duduk rumah, hantar surat sahaja!
    Apabila nak hantar surat, kena lekat setem! Apabila kita lekat setem sahaja,
    kita sudah bayar Tan Sri SyedMokhtar Al Bukhari,
    kerana POS Malaysia pun sudah diswastakan!!

    Tahniah Tan Sri! You earn this all, on your own!! Malaysia is not Malaysians anymore,

    its YOURS!! Entirely yours!!
    Siapa ka Tan Sri Syed Mokhtar Al Bukhari
    Sa orang Mamak proxy Tun Dr M

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