THE NEXT GOVERNMENT.

BARISAN RAKYAT SHALL FORM THE NEXT GOVERNMENT!

SOS

SOS
nation in distress

The World Anthem


WE ARE ALL OF 1 RACE, THE HUMAN RACE.


28/01/2012

60-YEAR PIRATISED HIGHWAY ROBBERY! LATEST ENTRY IN TOWERING GLOCAL GENIUS BOOK OF RECORDS!

by diam diam teh haliah saad, Donplaypuks® intrepid correspondent for piratised toll highway plunderers affairs at http://donplaypuks.blogspot.com




"Kumpulan Xxxx has officially obtained the contract to build a RM7.07 billion highway linking Banting (Selangor) and Taiping (Perak). Xxxx said its 64.2 per cent-owned Xxxx obtained an approval letter yesterday from the Public Private Partnership Unit of the Prime Minister’s Department.

Releasing details of the project yesterday, Xxxx said the West Coast Expressway will cover 316km. Of this, 224km will be tolled, while 92km will be toll-free. The project is based on build-operate-transfer with a concession period of 60 years, Xxxx said in a statement to Bursa Malaysia yesterday. Xxxx has secured a government support loan (GSL) of RM2.24 billion to “enhance the viability of the project”. The soft loan will kick off in 2013 at an interest rate of 4.0 per cent per year and an interest subsidy of up to 3.0 per cent from commercial loans for a period of 22 years.

The terms of the GSL and interest subsidy will be finalised by Xxxx with the Ministry of Finance, Xxxx said. It noted that toll revenue in excess of an agreed traffic volume will be shared on the basis of 70:30 between the government and Xxxx until full settlement of the GSL and subsequently, 30:70 after the settlement of the GSL. The government will bear some RM980 million cost to acquire land along the highway construction. 

Xxxx, meanwhile, will call for open tenders for main construction works. Proper concession agreement will be signed between Xxxx and the Works Ministry upon clearance from the Attorney General."

Well, let's analyse this Public Private Partnership deal approved by none other than our Prime Minister, Najib Tun Razak, recent recipient of the 'Distinguished Lifetime Achievement Award" presented by the bootlicking and brown-tongued Michael Yoeh and Lee Kim Yew (ex-Mahathir croneys) of World Chinese Economic Forum (WCEF). Don't all rush to the toilet to puke at once. Please. 

1. It matters not a hoot who Xxxx is since it's a direct negotiation contract i.e. a guaranteed crony deal

2. The construction cost of $7.07 billion works out at $22 million per kilometer. Why? The international norm is about $10 million. It is a rule of thumb in Malaysia that where huge $Billion so-called "privatisation" (locally dubbed "piratisation") contracts are awarded by direct negotiation, especially by the Economic Plundering Unit/PM's Department or Ministry of Defence, the real cost is about 1/3 to 1/2 less. 

By that reckoning, $22 million/Km is spot on! Hooray! Well done, Rosemajib!

Now, where does the differential of 1/3 to 1/2 go? To buy more US$200,000 per Birkin Handbags and fling it on shopping jaunts in Sydney, Dubai, London and New York, perhaps? Little wonder Malaysian fraudtrepreneurs and sovereign investment funds are all falling over themselves snapping up failed English football clubs, F1 franchises, Turkish healthcare companies, Singapore, London, USA and Oz real estate, (overpriced) banks in Indonesia etc. Or maybe to finance the $1 Trillion e@con.o,my god! transformational program policy of "You scratch my balls, I'll scratch yours. No we don't bribe for or buy votes"?

3. The real cost is of course $7.07 billion + $980 million land cost + interest subsidised by Government at 4% on GSL of $2.24 billion + further Government subsidy of 3% on commercial loans taken by Xxx. Do remember the last time the Government "supported" a "piratised" loan, the market took it to be a guarantee and today we, the over-flogged Malaysian taxpayer, are left holding PKFZ's $12 billion liability, while looking for space to rub our over-scratched two orbs in disgust as the former MCA Chief Ling Liong Sik is being prosecuted for "misleading his (wooden) cabinet colleagues".

4. Why a 60-year concession to Xxxx? This is a world record for any highway project. Show us the numbers. Don't hide it under the Official Secrets Act. Why are you PM, burdening us, our children and theirs? I am especially keen to discover what the projected traffic flow is. We are sick to our stomachs of you Plunderers conjuring up stratospheric stats and then passing the buck to taxpayer for compulsory compensation to the tune of $Billions when unrealistic projections cannot/will never be met.

5. "Xxxx, meanwhile, will call for open tenders for main construction works." Xxxx is a real estate development company whose finances are dodgy and led by a businessman whose $391 million liability to the Selangor Government had to be restructured by Menteri Besar Khalid or else a few local banks would have gone bust! So, in the interest of transparency, dear PM, please advise us why Xxxx was awarded this toll highway construction contract, one where the size of the project comes in at less than half of the NS Highway and at more than 3 times (300%) its cost?

And if Xxxx is going to sub-contract this >$8 billion contract even with so much Government subsidy, why can't the Government do it 100% by itself through the PWD/Malaysian Highway Authority AND NOT BURDEN THE RAKYAT AGAIN AND AGAIN WITH MORE AND MORE TOLLS!!? Wtf does Government exist for if public works such as these are not undertaken fully by itself? Before "piratisation" became UMNO/BN's calling card, our PWD used to handle the A-Z of these jobs. Why can't they do it now?

5. Who studied the viability of this project and recommended it? The Plus NS Highway is only problematical during festive seasons and long week-end holidays. So, who says the NS highway is over-clogged and we need  this Banting-Taiping link at what appears to be a massive fraudulent/padded give away contract to dodgy parties? Surely maintaining the old trunk roads well and managing traffic control during holiday peaks are better and more economical options? If it cannot come in at under $2 billion, ditch it now!

6. If Xxxx should fail to complete the project and collapses financially, what safeguards have you plunderers in Government put in place to make sure the taxpayers will not be subjected to another fcuking bailout? Your Press release is silent on this issue? Why? Declassify all documents now.

Since Tony Pua and the Opposition are monitoring these dodgy deals, I urge them to send a clear and powerful message to the Civil Service, Ministers and crony fraudtrepreneurs that when Pakatan comes into power ALL these shitty deals will be re-examined and anyone found guilty of fraud, CBT, embezzlement or corruption will be prosecuted and put behind bars for 60 years!

And while we are at it, below are some more deals involving Government, Government Linked (Losing) Companies and the private sector that deserve closer scrutiny:

1. $3.9 billion extension to LCTT based on projected passenger traffic of 45 million by 2020, based on off the cuff estimates provided by TF of AA. Did MAHB call for open tender and who were the parties awarded the contracts(s)? And is it true LCCT has two Control Towers?

2. $6 billion patrol boats contract ballooning to $9 billion. Do our patrol boats need laser guided missile systems at all? What for, to shoot at illegal immigrants?

3. $7.8 billion armoured vehicles contract sub-contracted to Turkey for $1.5 billion.

4. Sime Darby's $780 million acquisition of E&O Plc where massive insider dealing has been alleged against others and the husband of the SC's chairman, and not investigated thoroughly.

5. Proceeds from $250 million Government Loan to National Feedlot Corporation being used to acquire expensive cars, condos and land.

6. 'Not Commission" payment of  $540 million paid to Razak Baginda's company for delivery of 2 Scorpene Submarines costing $6.7 billion and $370 million to Adam Adib's company for delivery of MiG jet fighters.

Donplaypuks® and fcuk us with 60-year piratised toll concessions and bankrupting tolls, man!

25 comments:

Anonymous said...

the last hurrah and
last job for rosmajib
before bn ship
goes to davies-jones locker!!

kkk

Bang said...

Now,do you understand why I said there is no early GE. Part of the reason is waiting for more of these billions ringgit projects!

Bn has Just Buried said...

60 tahun boleh kutip tol dengan kadarnya boleh dinaikan dari masa ke semasat.

This alone should bury BN, head, feet and hands included.

What is the Opposition waiting for?

rakyat 1Malaysia said...

PR will march into Putrajaya to an ermpty treasury and a mountainfull of debts to deal with. This is the the truth and PR should be wary of this.
The only way to get back the loot and to settle debts is to nationalised the cash and properties of the scumbags, their offsprings and extended families that rule the country for more than 20 years.

Only then can PR be assured of the next 5 years and many more to come.
Trust me .......

puzzled said...

anyway public can put a stop to all this milking public funds nonsense?

Giving the rakyat problems said...

What can the rakyat do to object to it?

Peaceful Assembly?

Why are they pushing the rakyat to take action to protect the rakyat's rights and the rakyat's children's rights?

What kind of government is this?

Giving the rakyat problems!

matsinkong said...

And stupid Malaysian (Chinese, Malays, Indians, dayaks, etc) still vote for BN-UMNO. WTF is wrong with you Malaysians.....cari makan saja????

Roadrunner said...

Now I know what Highway Robbery means.

adhieysh said...

Boycott aje...jangan pakai highway nie!!!

FWL said...

According to TMI the company concerned is KEURO owned by a Tan Sri Chan Ah Chye who incidentally is the majority owner of the failed Talam Group.

Chan Ah Chye is also the developer of the failed "Pulau Melaka Project" in Melaka.

The supposedly RM2 billion man-made Melaka Island was launched years ago and is NEVER completed until today.

Imagine such unscrupulous businessman is given a RM7 billion project and thge right to collect toll for another 60 YEARS!

LLS said...

Datuk Seri Najib think of your late father, think of your mother, think of your descendants.

Have the conscience of a decent God-fearing man and not that of snake-oil seller. Enough is enough. Stop the reducing Malaysia to a beggar State.

Stop your wife from playing the role of an unofficial 2nd Deputy Prime Minister.

ron said...

Chan Ah Chye is a close partner of Mohd Taib the info chief of UMNO and former MB of Selangor and he is also called the million dollar suitecase man.

Today Najib opened the aircon elevated walkway in KL linking KLCC to Pavilion shopping complex which is owned by a rosmah crony.

Millions of Petronas money is spent to uplift business in Pavilion complex.

Why?

This DBKL and Nong Chik should be ashamed of this gross wastage.

ABU said...

Like AirAsia, bycott them and they will make you life miserable.

They will dig a hole in your alternative road. TNB, JKR oc JPA works will be never ending.

Heard someone suggesting to build a bridge to Pulau Tioman.

60.Years.Toll? said...

Congratulations to EPU, Ministry of Finance, PM's Department, JKR, et al - for the award of the Hi-Lifestyle.Way Robbery Deal.

I am 60 years of age now; my relatives are in Taiping and we are Happy to Pay Toll for the Next 60 years - that I can be safely sent home (from Klang to Taiping) to be buried when I die at age 120 years - at least its a Free-way to Heaven for B.e.E.nd.

ABU.Too
Gypsies, Tramps & Thieves - ALL

Anak_Malaysia said...

How are we to face our children?

Our children's children if such a government continue to behave like a tyrant and abuse the very power and authority that the rakyat has given it.

Such abuse of power for their personal gains have to stop!

If we do not stop them what will be left for our future generations to come?!?!

hometown boy said...

all roads lead to klang hah hah hah

Inhuman 1BN Pirates said...

The present generation, their children, grandchildren & great-grandchildren will be paying the exorbitant tolls & enriching UMNO's coffers & BN pirates pockets.

What shameful scumbags.

Govt & Petronas funds being pocketed as if from their own PIG Bank.

Holy Holy Islam Hadhari UMNO said...

At all costs, BN intend to win GE13, even if it means crushing Petronas coffers and breaking govermen funds.

Pirates of The Ringgit said...

Rakyat diketepikan, kedaulatan lanun BN diutamakan.

Anonymous said...

donplaypuks,

go eat bak-kut-teh. pray every sunday. screw he rakyat with abandoned housing projects, rub shoulders with UMNOputras (super UMNO crony) and turned yourself into another crony. then you are entitled to screw the people again with 60 year tolled road. God is Great aint it for this BKT lover?

Where Got Logic said...

Just like the exorbitant rentals being paid by the govt to Putrajaya Holdings for the 2 palaces of the 2 head honchos of UMNO when the land belonged to the govt and the govt put up the palaces and maintained them at govt expenses.

This Banting to Taiping Highway too is virtually wholly funded by the govt but the toll is pocketed by a crony company for 60 long years.

COBRA South River said...

DO MALAYSIANS REALLY KNOW BN/UMNO, BN/MCA, B/N MIC, B/N COUNTER-BRANDS WELL ? ... FROM THE RIGHT HAND, HAND-OUTS 2 SEN WORTH ... A LIFT HAND GRABS ... A MILLION TIMES MORE ! ... LOOK AROUND Y O U ... S E E FOR YOURSELVES ... OPEN YOUR E Y E S , E A R S , AND CLOSED YOUR MOUTHS !! DON'T ACT SURPRISE !!

WE, MALAYSIANS ARE BUT SUCKERS TILL THE VERY END !!

ABU said...

Satu lagi projek Kroni Barisan National-UMNO.

Piratising profits, Sosialising Losses. UMNO boleh.

Pls sign up for TakNak 1Care, the next piratising healthcare program where public healthcare service will be eradicated, people who pay income tax will be doubly-taxed (pay tax and forced to pay 1Care insurance to cover for basic GP treatment, where they will only get cheap generic drugs, treatment & consultation with specialist NOT included, must pay somemore!!!). ABU, ABU, ABU!!!

2 generations said...

60 years mean 2 generations of Malaysians would have to pay for it. This is real transformation and moderation, man!!.

Under TDM, only 1 generation paying for his cronism, corruption and nepotism. This means they have to pay more compared to spread over 2 generations.

ex Perikatan supporter said...

JAIs all over Malaysia are going to have more problems with apostates. Hassan Ali can shout till his face turns blue about Christians trying to convert Muslims.

With more projects like this my destitute Muslim compatriots are going to ask themselves what is Islam today in Malaysia. We have leaders, both men and women, without conscience. We are heading towards a deep sink-hole.

Omamah is making his lover-boy's job a million times more difficult.. He comes from a good family, remember that Rosmah, remember that.