Screenshots

Anybody can build anything, provided the tender process is transparent. Will we see this happening in Sarawak?

Cutting 80 percent off Pakatan Penang's allocation and yet creating a brand new megaproject allocation for BN Sarawak smacks of victimisation, any which way you look at it.

The six states under Pakatan should wise up that this has been BN's method of punishing people who don't toe their line.

Yet which states contribute the most to the GDP of Malaysia?

Therefore conclude that BN has its own interest above those of the country.

You can proceed to deem any other argument as superfluous.

The money is there. It must be given to Penang where it can yield more taxable income later to federal. Or has even that been left out of the equation in the hurry to spite the nose and disfigure the face?

How can they repeat the kepong and old-klang road thug motion all over again? Reform, they were saying?

We are family, ran Cruise.
(MI-III).

Sarawak has no railway meh? 50 years already lor... I thought railway is such a basic necessity one cannot live without.

...Yet Mr Thickface plods on with the same old lines, day in day out, as if they're Gospel truth and expect the rakyat to believe him. Sai hei...

Jeff
Could u possibly post the pre- and post-80% federal allocation cut?

The pre-pro forma financial statements will reveal "miscellaneous expenditure".

Why must Penang keep on begging the Federal Govt to give them money? You guys are not beggars, show the sleepy PM that you can survive without them and you can rest assured we will support you again in the next election.

JEFF OOI says: Tlak is always cheap. My plea is rather simple. Penang people pay all forms of taxes -- including individual and corporate income tax -- to the federal coffers as we have a centralised taxation regime. The taxes collected are then to be ploughed back to the contributing states for development and upgrading of infrastructure and social support facilities. What we are doing is being done on behalf of these tax-paying Penangites to stake our claims to the country's treasuries. I don't think we should short-charge ourselves by not asking for what Penangites deserved because by doing so you have declared total defeat before you start something to protect your interest. Understand?

Let me give you a suggestion to ponder with Lim Guan Eng.
Call a tender for a monorail or tram for Penang. You will shave off easily 50% of BN's last estimate. Then barter trade with the winner to pay for the construction by allowing them to reclaim land off the island. Set 30% of the reclaimed lands for public housing with price cap for the poor Penang folks. Allow them to rent the apartment ( price cap at not more than RM30,000) at RM50 pm for 5 years, then deduct the rent as downpayment when they buy at year 6. Build some single storey houses too and cap them at RM80,000. Same terms. The balance 70% of the reclaimed , the winner can have open pricing and sell to anyone. The success of Jelutong (IJM) and Seri Pinang ( E&O) will see flock of PLCs rushing to Penang to do this deal. As part of the deal, winner also deposit a 10 years budget/subsidy for the monorail/tram with the Penang Govt so that fares can be kept below RM1.00.

What do you get end of the day? Cheap monorail/tram for Penang people and tourists, the poor of Penang get cheap quality homes, Penang Govt dont need to come out with a single sen.Winner is happy he can develop and make money on the reclaimed land. And best of all, you dont need to beg BN and you will be voted in the next election and this can be a model for all PKR states and you will form the next Govt. You dont need Federal Govt's approval to do this as land comes under state matters.I have suggested this in other blogs for PORR too. It can works and I hope you explore this instead of "begging" those greasy men. I really want you guys to succeed.

JEFF OOI says: Don't you think IJM and Chase Perdana Chew Piau) have obtained more meat they they deserved out of the land reclamation at the expense of Penang's sovereinty? Have you a tight grasp of the economics behind these two developers' projects? Yes, I am talking about hard facts of IRR and their return of assets that thge previous state government was too foolish to look at.
Talk is cheap again.

I can't see why the rest of Malaysians failed to see the blatant conflict of interests and the obvious Save-BN-Govt projects here.

1) Sabah & Sarawak threaten to quit BN >> their local BN warlords land many many development projects. (at least pledged).

2) When the opposition captures the state, the citizens of that state ceased to be important. some might wonder why kelantan has the lowest gdp.. they are lazy? i don't think so...

3) with development funds given to the most instable BN components, (or the most corrupted), we re probably heading into a hole very soon.

4) sometimes, thinking about it, mahathir probably had it better. at least he has some visions, and his cronies are the means to achieve this visions. not simply to enrich and entrench himself!!!

I refer to maggie q's statement "reclaim land off the island" !!!!

one of my concern is:

based on my knowledge the reclaimed land in holland ,
when they had reclaimed the land , the moment heavy rain comes it actually causes serious flooding problems.

pls correct me if i'm wrong

JEFF OOI says: This might not be true when tested technologies are used. Japan's Kansai airport was built on wholly reclaimed land and the stringent ecological laws here do not allow for environmental ravages. Singapore's Changi airport complex was, and the two new Casino-related Integrated Entertainment zones are going to be, built on reclaimed land. And you know how stringent Singapore is in flood mitigation.

Jeff, I do agreed with you that IJM, CP creamed off the State the last round. Thats why I suggest you call for open tender. Of course, I do know about IRR and various rate of returns. Do you know what is XIRR and how to calculate them since you speak so much about IRR then? I definitely have more grasps than you on the economic part. Since you also know so much, you should also ensure whoever comes to the state should get reasonable return only and dont use IRR, you should use XIRR.

JEFF OOI says: I can compute only based on facts and live data. It gives me the impression that you eiher ( 1 ) confused yourself as a function of Microsoft Excel; or ( 2 ) XIRR being the calculation and returns of the internal rate of return (IRR) of an investment that has not necessarily made periodic payments. Yes, I do know this function is closely related to the net present value function (NPV and XNPV) where the XIRR is the interest rate for a series of cash flow assuming the XNPV is zero. So I don't what you were arriving at for the case of IJM and CP. Is there anything that you know about what IJM and CP did to Penang that I do not already know? Please share but be specific on IJM and CP.

I just dont share your views and you dont have to be so sarcastic when replying. Before you became MP and also thru part of my donation, you were more sensibel in your reply, now there seemed to be some sense of cockiness.

JEFF OOI says: Cockiness? I just want to be specific and not to waste time. Since becoming an MP and a helping hand to Penang, I no longer have time for general issues as I have to devote my scarce and valuable time for specific issues. I want to be specific on the issues of what IJM and CP did to the previous Penang state government and not let them screw up this present government again.

Jeff,

I researched on these 2 affected mega projects ie Penang Monorail and PORR at my blog here:-

9MP Mid Term Review and its impacts on Penang planned infrastructure projects

http://www.intproperties.com/index.php?subaction=showfull&id=1215395565&archive=&start_from=&ucat=3&

The deferment of these two projects will have many impacts to Penang economic development.

tomatoinc, I think your 2nd facts should read as
When the opposition captures the state, they also join the rank of other BN state citizens that ceased to be important ;)

Despite 27 millions population, Malaysia are still using 1957 idea of governing, to control the funding of states development. We have a government that running into self-implode. I afraid this will happen in my life time if other refuse to learn it.

wasn't it the melewar group who proposed to previous penang government a monorail line by private financing the project 100% maybe two years ago. But now off course the whole construction will cost so much more due to rising cost of steel and cement.