Will army vets shake their butts at Boustead?
YOURSAY 'In keeping with the traits of the black widow spider, the female of the Umno species is deadlier than the male, or at least his equal.'
Ferdtan: We ‘salute' Selangor Wanita Umno chief Raja Ropiaah Abdullah for outsmarting the multi-billion ringgit company Boustead in negotiation for such a ridiculous good deal for herself.
She must have drove such a ‘hard bargain' that she practically wins hands down in getting a huge profit from the deal. Maybe she is a ‘tall Malay' that ex-PM Abdullah Badawi referred to during his administration.
With no sweat and tears, she made a tidy sum of money. Let us be happy for her.
1. She retains 23.2 acres of land in Shah Alam. Using the Boustead's purchase price of RM130 million for 200 acres, the 23.2 acres will come to a cool RM15 million.
2. Profit from a RM15 million contract given to her company Awan Megah, with the profit margin say a low of 20 percent - RM3 million.
3. Interest to gain for say four years from the Boustead advance of RM4 million at Maybank BLR (base lending rate) of 5.8 percent (assuming no profit for the bank - part of ‘national service') will round up to about RM1 million.
4. Boustead subsidiary Bakti Wira undertakes to pay all debts incurred by Awan Megah to GuppyUnip Sdn Bhd - say another RM4 million.
The total at the end of the day, other than RM130 million payments from Boustead for her company, Awan Megah, is an additional sum of RM23 million.
I admit I have made a wrong decision in studying so hard for my qualification. I should have join MCA (since I cannot join Umno). Then my life will be so much easier.
Apa Nama: Malaysia is very business-friendly because it's easy to get this so-called "bonus" - I take care your pocket and you take care mine.
This case is just tip of an iceberg. Just because one 'schoolboy' does not understand the term "cash", everyone has become cash crazy.
Vijay47: I don't know about you, but I am getting plenty jaded with all these new revelations of daylight robbery. Those in authority care nary a hoot and the laughter is louder at the bank.
One thing is obvious - in keeping with the traits of the black widow spider, the female of the Umno species is deadlier than the male, or at least his equal.
First we had ‘The cows that stayed in exclusive condos', nothing happened. Then we had ‘Raja Ropiaah's first day at the bank", nothing happened. Now we have ‘Raja Ropiaah - Her second day at the bank' and expect nothing to happen.
The leakage from the Treasury by Umno women has grown from trickle to gush. Oh, where is that little boy with the finger in the dike?
Meanwhile in Lahad Datu, the army buttmen are again shaking their bottoms at foreign militiamen in the hope that they will be seduced into leaving. And as usual, Home Minister Hishammuddin Hussein looks cute in his cap.
Hplooi: In valuing assets, there is something call 'goodwill' and 'intangible'. Business-wise, if the good Raja Ropiaah has the connection/cable, that would count as 'goodwill' and 'intangible'.
How do you price this? Based on opportunity cost generated from the 'goodwill'. So becoming an Umno chief is one way to accumulate 'goodwill' in the corporate world.
No Racism: Umno knows Pakatan Rakyat is watching them like a hawk. Yet they pull off such a stupid corrupt deal. Clearly, it shows how bold and indifferent Umno is to the rakyat.
Why are people still supporting Umno? Are these people stupid? Or are these people selfish thinking only of themselves and could not care less about Malaysia?
iVote: Do not underestimate PKR strategic director Rafizi Ramli. His ability is PM-to-be material. Surely many of us will live to see him be in that position one day.
Malaysiawatch4: Like Selangor MB Khalid Ibrahim, Rafizi seems to understand financial matters and thus should be put in charge of Bank Negara (if Pakatan wins) to uncover past misdeeds such as currency speculation and money laundering.
Bystander: Now I understand why BN badly wanted Selangor back. It is a gold mine with a lot of assets to be looted. At least Khalid put a stop order for development of the controversial land held by Raja Ropiaah for the time being.
So please support Pakatan to retain Selangor so that Khalid could investigate further and possibly seek redress of all those plundering.
Gen2indian: Isn't it a criminal offence to withhold information from Bursa Malaysia? If no action is forthcoming from Bursa Malaysia, won't foreign investor confidence be badly shaken?
The integrity of Bank Negara is already compromised with the RM200 billion illicit outflow and now this. Is there no end to the list of compromised institutions?
Anonymous #19098644: The Securities Commission can and should demand an explanation and censure the directors and management of Boustead Holdings for wrongful concealment of pertinent information affecting the shareholders and the public.
LTAT (Armed Forces Fund Board) shareholders - the armed forces personnel both current and retired - should demand an explanation why Boustead concealed this information and why such unfavourable terms to the company were agreed upon.
There is more than adequate information for the Malaysian Anti-Corruption Commission (MACC) to take action against Raja Ropiaah for corrupt practices
This is another clear-cut case of the corrupt, decadent, crony culture of Umno at the expense of the mainly Malay armed forces and the people of Selangor.
Fateh: By the speed and quantum of robbing the country and the nation, those who eventually suffer will be the people on the street by paying a lot more for goods and services when the country is sucked dried by these robbers.
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