Cometh January 1, 2008 there will be another toll hike ... you know why? Your generous government has a soft spot for corporates, especially when these companies are linked to UMNOputra bigwigs. If you don't have money, and yet want to undertake mega projects, never mind -- the Government will extend to you a low-interset soft loan. In the case of highway concessionaires like PLUS, the contracts have profit guarantees to the contractors, and periodic toll hikes are written in their favour no matter what F...ing (I dare not spell out this fowl word, it stinks like the chicken's shit, and I don't wanna spoil your BF on next New Year's Day if it ever comes!) profits they have been reaping from the roaduisers!
If your business fails, never mind, the kindhearted Government guarantees you compensation for any shortfalls. No wonder Malaysia produces one of the most capable enterpreneural communitioes in this part of the world.
When the Port Klang Free Zone scandal was blown -- costs overrun by some RM3.4 billion, never mind. The Barisan Nasional with a conscience givethe thee a RM4.5buillion "soft loan". Don't use the word "bailoiut"! It's taboo, and we can use the ISA against you. So I'm not using the word "bailout"! II'm just warning my fellow writHers and readers.
Here's the latest show of generosity -- Santa Clause arriveth early this year, next year and many more years to come -- as long as Petronas oil monies continue on A* roll!
This company Gerbang Perdana-- I bet you you will find some VVIP UMNO bigwig on its board of scavengers -- Ooops, replace that with directors! -- even gets paid almost one-quarter for not doing the job!
From the NST, 25/10:
RM237m for scrapped bridge contractor
THE contractor of the scrapped crooked bridge across the Johor Straits has to date been compensated RM237 million.
Finance Ministry parliamentary secretary Datuk Dr Hilmi Yahaya said the amount included RM55 million for work already carried out on the site by Gerbang Perdana Sdn Bhd.
The government has approved RM292.5 million in compensation.
The RM1.113 billion bridge project to replace the Causeway was aborted following conditions imposed by Singapore such as that Malaysia supply the republic with sand and allow it the use of Johor airspace.
Hilmi said discussions were ongoing with the state government to build a link connecting the causeway to the Customs, Immigration and Quarantine Complex.
On another aborted project, the Broga incinerator, Hilmi said the compensation amount had not been determined.
Replying to Dr Mohamed Hayati Othman (BN-Pendang), he said negotiations have not concluded with contractors Konsortium Ebara Corporation and Hartasuma Sdn Bhd on the RM1.5 billion project.
The incinerator was meant to handle 1,500 tonnes of solid waste per day and serve as a centralised waste disposal system for the Klang Valley.
But it was opposed by residents who claimed it was harmful to the environment and public health.
The government scrapped the project last July.