YOURSAY | ‘In the case of the ECRL, Malaysia will bear full responsibility if it does not make money.’
PKR leader: China's control of ECRL deprives local players
Anonymous 2436471476414726: Prime Minister Najib Abdul Razak calls the East Coast Rail Line (ECRL) an investment by a foreign power. How could this be a foreign investment when Malaysia owns the project and most importantly, pays for it?
We are only awarding the contract to a foreign company as a condition for the loan this country grants to us. Foreign investment is when a foreign country owns the project or plant, and pays for every sen required for the construction, running and maintenance of it.
Most important of all they, being the owners, bear the risk of loss or unprofitably if any. In the case of the ECRL, Malaysia bears the responsibility if it does not make money.
So once again Najib spins a story to make it look like he has succeeded in obtaining foreign investments when actually, he has done no such thing.
Hardboiled: Most of China's infrastructure deals are conducted in Third World nations. These nations neither have the expertise nor the capital for such an outlay.
We, on the other hand, have bountiful resources. We are an oil producing country and have our very own high-tech airports, industries, skyscrapers and so on. And yet, we allow China to dictate the terms of our national projects.
Are we a Third World nation or are we not? Obviously, we have the expertise or at the very least, are able to procure it.
So if China is in on this deal based on their terms, then by deduction, we have no capital to do this project on our own. Why?
Drngsc: 'Hardboiled', we also have MO1 (Malaysian Official 1), who has allegedly stolen our money, cannot pay back, and has allegedly asked China to help settle 1MDB's debts through inflated projects, and also perhaps to avail more money for the 14th general election (GE14).
We begged money from China, so how are we to talk terms? Beggars have no say.
Anonymous 1869301444031055: The rakyat do not need the RM55 billion ECRL, they need affordable housing. RM55 billion can built 360,000 units of RM150,000 per unit affordable housing.
Well Thats Fantastic: The ECRL will put us RM55 billion in external debt, this will drag down the ringgit even more, won't it?
Felda settlers owe almost RM5b in various debts
Retired Citizen: It is amazing the Felda settlers owe so much after the scheme has been in existence for at least 30 years. This was because of the incompetent management by Felda Technoplnat - the Felda subsidary that manages the settlers' scheme.
As a result of the lack of competent management, cost of plantation maintenance, harvesting and crop transport cost have been high. The high operation cost have been compounded by poor harvesting and consequently low crop yield and high unit cost.
It is therefore not surprising if the settlers only receive not more than 60 percent of their potential earnings from their eight-acre plot.
Consequently, the settlers were unable to fully pay back the plantation development and planting costs, let alone save money for the replanting after 25 years.
Anonymous_1390303981: So Deputy Minister in the Prime Minister's Department Razali Ibrahim, what's your action plan to help the settlers?
Nehru: So it appears the aim was to get the settlers to take loans to buy the shares, and make use of the gains. So they squeeze it dry and pass the burden of debts to the settlers.
Sixty-years of Umno rule and who has not been impoverished when even their faithful members are cheated? It’s time for Umno members with integrity to enlighten the settlers and vote these politicians out.
Anonymous #70881335: This reminds me of the days when thousands of Indians borrowed money to buy Maika Holding shares. It’s sad when those who should know better, take advantage of those who are poor.
In the end, the alleged crooks get away with it.
Budak SRJK (C): It is very unfair to brand the Felda settlers "simple and stupid-minded Melayu".
I believe the majority of them are not "simple and stupid minded Melayu"; they are simple, ignorant folk who were ‘deceived’ into subscribing to the FGV (Felda Global Ventures) shares.
6th Generation Immigrant: Felda must be a serious concern for all Malaysians, irrespective of religion, race or political affiliation.
These sad events in Felda are the exact total and full reflection of what is happening in Malaysia at the national level - we are deeply in debt.
We can all be armchair critics blaming Felda settlers that they (specifically the Malay settlers) are vulnerable and taken advantage of by the government.
But look carefully, the same is happening at the national level, but aren't MCA, MIC, Gerakan, PPP or many others blaming everyone but themselves?
They are the problem. Can we all then say that the non-Malays from BN component parties are vulnerable and they are being taken advantage of?
Are we looking at the bigger picture - a failure of Umno policies, and that every Malaysian shares the blame on this matter, if not today, then very early on in the yesteryears?
Felda is just a fraction of the country's failures, but committed by the same bunch of people in charge.
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