After all the government's justification to rescue Renong and its related companies from its incredulous debt, the Asian Wall Street reported yesterday that Renong will develop a huge theme park in Southern Johor that would require a capital outlay of around US$800 million (RM3 billion).

How, may one ask, that a company, virtually broke, can turn itself around so quickly to embark on a mega-project that will include golf courses and hotels amongst other things?

The whole thing smacks of something that is so quintessentially Malaysian: You can essentially be bankrupt, but it will be business as usual. The project itself raises questions on how and where the funds will be raised from?

What about the risks inherent in such projects? And if the government owns Renong now, surely it has a duty to discuss the detailed plans of the company in Parliament. Sure, reasons are given to justify the project. But if the past is of any guide, it sounds like the project is being planned along the build-and-they-will-come to invest basis approach. Just like the Second Link in Johor and the KLIA.

So much talk about having to take haircuts these days, but someone is getting scalped! I think it is the taxpayers, again.