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22 October 2010

Warisan Merdeka

To Farrah DN and Ain Z
for making this entry an accomplished 
distillation of thoughts...


There's a friend of mine in Canada who wants to hear what are my thoughts regarding the PNB new iconic project, Warisan Merdeka which includes the construction of a 100-storey tower. Another friend of mine in India said the name 'Warisan Merdeka' is 'sedap' while my friend in Poland and me agreed it is kind of ' so kampung' but that is just typical me, gedix skit. 

So anyway, one thing that I think wrong made by Najib is that he announced this in the Budget 2011 while I was made understood by various sources of news that the project is privately funded by PNB. I am not in the Government nor am a lawmaker, so I am not sure whether our annual budget should contain Government spending only or involved private funding as well. Furthermore, it is a PNB project, a government-linked company, maybe it is a Government project but it is not funded by Government. Ala, private with Government influence, you get me? Overall, that's the only bad thing about this project; the place it was announced. Other than that, economically and socially, I lauded the new project! 

The brouhaha (best guna perkataan ni) made by the Opposition will never end. Why I support this project? I don't want to use the same reason that others use; the typical 'tengokla Mahathir masa dia nak buat KLCC dulu, ramai je yang bangkang'. I'm not going to use this because if you succumb this to those who oppose anything the Government make, ugh..selamat berjaya la yek.

Okay, first of all, you all ingat tak pepatah jaga tepi kain orang, kain sendiri tak jaga. Kain I, ikut pandai I la. I beli dengan duit I sendiri. The same thing goes to this tower. The owner has its own money (the market capitalisation of PNB can build 20 more 100-storey tower,seriously check the Bursa Saham) to build this building, it is not money from the Government. Ada orang bangkang you all nak buat rumah kalau ada duit banyak dengan duit you sendiri? Gila bangang! Bukan duit kerajaan, tapi duit PNB. 

Okay, if you say PNB has our money to build the tower, because we invest in ASB, ASN, ASW2020 and so on so on la. You feel risky if they use your money to build the tower, isn't it? Have you listened to comments made by the economists or investors about this project? Hey mister, the RM5 billion fund is from the private saving of PNB, the company itself! It is not from your money! If you study how a trust fund is managed, they take your money and invest in profitable companies and then, the dividend made is paid to you. Tu la yang you dapat kot dividend ASB tiap-tiap tahun tu. But, this RM5 billion is the company's money that they own themselves and invest it for their own profit! Kalu tak faham lagi, dia macam ni. Aku ada syarikat nak buat trust fund. So, aku kena jugak ada startup duit nak bukak company tu. So, let's say dah ada duit tu. For PNB, modal dia Government bagi dulu. So, aku you all sume bagi la duit kat aku and I ambil semua duit you and letak kat dalam company yang untung-untung. Tapi startup modal tadi tu? Aku invest la untuk company aku sendiri. Ada aku ambil duit you all nak bagi untung kat aku? Modal tu la yang PNB invest kat company lain and diorang buat profit dia sendiri! Actually, we have to be proud with PNB as they are able to have that much profit for themselves while at the same time our money also grow in our trust fund. Tu la, jangan dengar comment made by those who read Malay Studies, but from business perspective. Inilah yang dimaksudkan itu duit keuntungan company tu sendiri, bukan duit I, not your money either! 

I know why this is such a big matter if we want to build something big. Let's say Mah Sing Group ke, Sunway Group ke or even SP Setia want to build 500-storey tower right in front KLCC, it's okay. Takde bising-bising ni. The project get support from Lim Kit Siang, Anwar sekalipun. Why? You like it or not, nearly all investors in PNB are Malay so when they build it, ugh mana jadi ni. Which one is better, PNB built 100-storey tower with many Malay share in it or Sunway build condos around KLCC that no Malays can buy even a square-feet of them? Jawabla. You nak beli sekaki pun  tak mampu. So, when they have PNB, I invest in the funds, the money grows and able to have my equity share in the tower, although it is very little. But, is it much better than all of the condos that only super-rich can buy? Dia PNB buat ni nak suruh kita rasa ada jugak share dekat tower tu. If I know this reason is right and absolutely true, I dare say Malays who oppose this are stupid then. It may sound harsh, but are you freaking kidding me? Unless you don't have investment in PNB-related funds. Sapa tak suruh menabung? Padan muka. Look at KLCC, who owns the stores and retails? Pak sedara Najib ke, ayah aku ke? Ke Siti Hasmah punya Zara ke tu? They all owned by the private investors who are not ....Malay! Or those who oppose ni jealous sebab dia nanti takde share dalam bangunan tu? Is saying that my race doesn't own the shops in KLCC racist? 

That's the hidden agenda from those who oppose. Melayu yang tak tahu apa-apa ni, ikutla sekali oppose biar orang nak bagi dia senang sekali pun. 

I heard these reasons/comments as well:
1. Kenapa nak membazir lagi, buat la sekolah ke, hospital ke?
2. Kenapa tak tolong pesakit kronik ke, nak buat appendix costs thousands kot!
3. Healthcare sytem pun mahal.
4. Barang-barang mahal.

Jawapan: Semua benda kat atas tu semua betul, tapi semua tak kena tempat nak jawab dengan duit tower ni. Duit RM5 billion tu sekali lagi nak diulang: BUKAN DUIT KERAJAAN! Sape yang kena buat semua kat atas tu? KERAJAAN! PNB tu KERAJAAN ke? Dia syarikat nak buat untung. Untung dia pun kita jugak yang rasa, kalau you invest la. 

Questions just out of curiosity:
1. Is Malaysia a welfare society that we need to pay for all things including those who go to private hospitals? 
2. Is Petronas money need to be used to cut subsidies only so that you can pay for cheaper goods? 
3. Are you freaking taknak berusaha and complaint je all the time although benda tu tak kan guna duit you?
4. Do you want PNB to use the RM5 billion to give to the Chinese-owned sugar companies (richest in Malaysia btw) so that we pay RM0.50 je for sugars and so we will eat more sugars and get diabetes and then we don't have money to go to Petronas-owned Prince Court Hospital, so end up in public hospital and then keep complaining? 
5. Do you want the RM5 billion spent to political drama in the party's election fiasco?

Tu je. Bye. 


-The Chukai Insider

ps: I feel more patriotic watching The Amazing Race Asia compared to any other stuffs (don't know la other stuffs).

16 comments:

  1. argh!!! ok2...since my first komen tu dok jadi...ni satu lagi..(aku masih berapi-api so aku mampu nak ulang mende yg aku tulis)

    first of all,ni takde sentimen anti kerajaan langsung k.aku bukan x setuju sbb aku x setuju ngn kerajaan.aku x setuju sbb aku rasa banyak lagi mende lain boleh buat ngn duit tu. ntah,maybe sbb aku rasa bangunan 100tingkat ni terlalu duniawi kot...banyak lagi issues kena cover...
    baik la bangunkan kawasan luar bandar tu betul-betul dulu.banyak lagi tanah kat malaysia yg belum guna tau.ramai lagi org living in poverty kat dalam hutan,literally. why not just bangunkan bandar-bandar kecik ni betul-betul so that these poor people punya children tak payah duduk merempat kat KL cari kerja and in the process some of them might become drug dealers ke apa ke...
    better yet,bangunkan cyberjaya punya supposed to be up and coming 'biotech industry' so that the thousands of malaysian scholars studying biotech kt US and canada will get a job related to their field bila balik malaysia. mak saudara aku sendiri yang experience mende ni tau. ambik bioinformatics pastu x dapat kerja...
    ntahla,guna la duit tu untuk fund research for universities ke,up grade kan zoo negara ke...i don't know.anything but a 100 storey building to commemorate kedatangan hari kiamat.
    kalau nak help orang melayu,help la orang yang miskin.janganla orang kaya makin kaya working in their tall buildings and orang miskin makin miskin sbb nak kejar tapi x mampu. ramai lagi yang x cukup education,ramai lagi yang x cukup skill tau.
    i don't know,maybe i'm not being realistic. but ni pendapat aku. explain :)

    oh,by the way...mu tau dok,PPD kemaman pun perlukan duit like crazy. adik aku punya dikir barat team dokleh nak perform at the last minit sebab PPD xdok transportation utk htr diorg! after weeks of training plak tu. ntah pape...

    ReplyDelete
  2. ok,a brief comment.
    aku dok setuju sebab:
    1)ni weak,tapi aku rasa mende ni terlalu duniawi la...mcm nok commemorate hari kiamat or something. "wah,tengoklah! betul Allah cakap kekgi akhir zaman banyok bangunan tinggi nok mapuh!" so i don't think this is something i can be proud of.

    2)baiklah guna duit tu untuk bangunkan kawasan luar bandar.kan better kalau PNB tolong build small-small industries or whatever businesses kat bandar kecik-kecik to give more jobs to these people.ramai lagi tau dok org malaysia duduk dalam hutan. literally. 5billion tu banyak.instead of using it in one place to helpone group of ,dare i say,already rich population baiklah disperse elok-elok so that everyone dapat. more importantly,the people who really NEED it,dapat. cuba imagine all the small towns like pekan,dungun and i don't know,kuala lipis ke apa ke,jadi bandar-bandar yang can actually sustain the people living there.sampai bila nak expect anak-anak petani ni kena cari kerja kat KL je? kalu terus gini ork,nanti orang kaya makin kaya,orang miskin xkan sempat nak kejar.

    3) might as well guna duit tu untuk realisasikan the supposedly up and coming 'biotech industry' so that nanti bila beribu-ribu scholars biotech balik dari US and canada they will actually get a job related to their field in their own country. (kan amin kan?)

    4)warisan merdeka is a crappy name for a building. aku malu.

    ReplyDelete
  3. ok,aku nampak mcm fanatic nok mapuh so here's something to back me up!!!!
    blogger ada problem nak save comments so i had to write the same thing three times and tetiba 2 of them got published here! so not my fault ok

    ReplyDelete
  4. There are many things oome into account when you're building a mega project. Present and future.

    Future : Inflation increases exponentially around the tower soon reaches for the whole malaysia and hits the rural areas (they're poor enough for god's sake, don't abandon them anymore), higher traffic congestion.

    Presence : Yes, even if you say it's their money.. are you proud that your dividend < inflation rates? Or perhaps your wages now are too much for you to count?

    ReplyDelete
  5. Kalau mcm tu..pnb bukak la 1 company pemaju..buat rumah kat kl tu..bukan duit kerajaan kan?kerajaan ada power tak nak halang,stop projek tu?kalau takde..nak kata apa...kl makin padat..dgn ada tower u..tak tau nak kata la..kalat buat rumah...senang gak staff g keje..tapi tu la..duit pnb kan.....

    ReplyDelete
  6. PNB syarikat and bukan kerajaan??
    ape makne PNB??
    badan kerajaan gak kan??
    and aku rase fully goverment..
    ape ko cube sampaikan??

    ReplyDelete
  7. Dear Anonymous,
    Future : Inflation increases exponentially around the tower soon reaches for the whole malaysia and hits the rural areas (they're poor enough for god's sake, don't abandon them anymore), higher traffic congestion.
    -Okay, let's assume that the the tower will create inflation (inflation is a rise in the general level of prices of goods and services in an economy over a period of time) very fast (exponentially!) even to rural a areas (wow, very rapid in Malaysia,huh?), then the lands owned by the poor people will increase isn't it? Well, if you say so, I would be very happy then, since many villagers have their undervalued land. With this so called exponential inflation in the land price they will experience, wouldn't their property values increase.
    This is even better, that means you are supporting my argument.
    I'm not a trained economist, but if you can explain how the exponential inflation would happen and affect the land owner in villages,I would be very happy.

    ReplyDelete
  8. Dear Anonymous,
    Presence : Yes, even if you say it's their money.. are you proud that your dividend < inflation rates? Or perhaps your wages now are too much for you to count?
    How exactly it will do so? Maybe if you explain how, I can provide answer. How the dividend < inflation rates? Seriously, I don't study economics. But if I know how it happens, I can answer that. And no, I don't have many wages, I know you don't to haha.

    ReplyDelete
  9. Dear Anonymous,
    Needless to say, PNB is a GLC companies. This is PNB:GLICs are defined as Federal Government linked investment companies that allocate some or all of their funds to GLC investments. Defined by the influence of the Federal Government in: appointing/approving Board members and senior management, and having these individuals report directly to the Government, as well as, in providing funds for operations and/or guaranteeing capital (and some income) placed by unit holders. The definition currently includes seven GLICs: EPF, Khazanah, KWAP, LTAT, LTH, MKD and PNB.
    The category of GLCs comprises companies that are controlled by the respective State Governments and State-level agencies. This includes companies that the Government of Malaysia controls directly as its agencies such as Khazanah Nasional, MOF Inc., KWSP and Bank Negara Malaysia. Includes companies where GLCs themselves have a controlling stake, i.e. subsidiaries and affiliates of GLCs.Source:Khazanah

    That means the Government has its own say in appointing the board. But being an investment company, it needs profit to give to the Government as well. Why building this tower will reduce the Government's income? If you see incomes as in hard cash only, yeah that will do. But, is income defined by hard cash only?

    ReplyDelete
  10. Dear Anonymous,
    Kalau mcm tu..pnb bukak la 1 company pemaju..buat rumah kat kl tu..bukan duit kerajaan kan?kerajaan ada power tak nak halang,stop projek tu?kalau takde..nak kata apa...kl makin padat..dgn ada tower u..tak tau nak kata la..kalat buat rumah...senang gak staff g keje..tapi tu la..duit pnb kan.....

    -PNB memang dah ada company pemaju dia sendiri pun, what's your point? I don't get your points exactly because the way you wrote it is full of emotions without any researched details. And it is full of unrelated cynicism. If you are me, you'll just laughing looking at your own writing because it has no substantial content at all. Thanks for reading btw.

    ReplyDelete
  11. Dear Anonymous,
    Presence : Yes, even if you say it's their money.. are you proud that your dividend < inflation rates? Or perhaps your wages now are too much for you to count?
    How exactly it will do so? Maybe if you explain how, I can provide answer. How the dividend < inflation rates? Seriously, I don't study economics. But if I know how it happens, I can answer that. And no, I don't have many wages, I know you don't to haha.

    ReplyDelete
  12. ok,a brief comment.
    aku dok setuju sebab:
    1)ni weak,tapi aku rasa mende ni terlalu duniawi la...mcm nok commemorate hari kiamat or something. "wah,tengoklah! betul Allah cakap kekgi akhir zaman banyok bangunan tinggi nok mapuh!" so i don't think this is something i can be proud of.

    2)baiklah guna duit tu untuk bangunkan kawasan luar bandar.kan better kalau PNB tolong build small-small industries or whatever businesses kat bandar kecik-kecik to give more jobs to these people.ramai lagi tau dok org malaysia duduk dalam hutan. literally. 5billion tu banyak.instead of using it in one place to helpone group of ,dare i say,already rich population baiklah disperse elok-elok so that everyone dapat. more importantly,the people who really NEED it,dapat. cuba imagine all the small towns like pekan,dungun and i don't know,kuala lipis ke apa ke,jadi bandar-bandar yang can actually sustain the people living there.sampai bila nak expect anak-anak petani ni kena cari kerja kat KL je? kalu terus gini ork,nanti orang kaya makin kaya,orang miskin xkan sempat nak kejar.

    3) might as well guna duit tu untuk realisasikan the supposedly up and coming 'biotech industry' so that nanti bila beribu-ribu scholars biotech balik dari US and canada they will actually get a job related to their field in their own country. (kan amin kan?)

    4)warisan merdeka is a crappy name for a building. aku malu.

    ReplyDelete
  13. Dear Anonymous,
    Needless to say, PNB is a GLC companies. This is PNB:GLICs are defined as Federal Government linked investment companies that allocate some or all of their funds to GLC investments. Defined by the influence of the Federal Government in: appointing/approving Board members and senior management, and having these individuals report directly to the Government, as well as, in providing funds for operations and/or guaranteeing capital (and some income) placed by unit holders. The definition currently includes seven GLICs: EPF, Khazanah, KWAP, LTAT, LTH, MKD and PNB.
    The category of GLCs comprises companies that are controlled by the respective State Governments and State-level agencies. This includes companies that the Government of Malaysia controls directly as its agencies such as Khazanah Nasional, MOF Inc., KWSP and Bank Negara Malaysia. Includes companies where GLCs themselves have a controlling stake, i.e. subsidiaries and affiliates of GLCs.Source:Khazanah

    That means the Government has its own say in appointing the board. But being an investment company, it needs profit to give to the Government as well. Why building this tower will reduce the Government's income? If you see incomes as in hard cash only, yeah that will do. But, is income defined by hard cash only?

    ReplyDelete

Anonymous comments will be deleted except comments from 'anonymous' people I know. Please refrain from comments of a racist, sexist, vulgar or derogatory nature and note that comments can be edited, rewritten for clarity or to avoid questionable issues. The Chukai Insider also reserve the right to delete off-topic comments.