Miscellaneous / Umno & Barisan Nasional

Brief Outlook on AG Report 2012

The much awaited Auditor General Report was published recently and the nation is gripped with unearthed stories about mismanagement (again), unrealistic purchases (what’s new?), inefficiencies as well as wastage.

We should really brand the momentous AG announcement as a national transparency day of sorts when discoveries like the ones exposed recently are highlighted for all can see.

What dumbfounded the nation is the fact that these findings are nothing new and had been going on for years but astonishingly, nobody in the audited government agencies learnt anything from past mistakes! Is the AG Report being treated as a insignificant memo by the misbehaving departments? Won’t the junior officers take heed of the mistakes made by their senior management about these gross mismanagement?

Leading the pack for inefficient spending would probably be the Ministry of Education:

Security in schools sees RM2bil go down the tube

The 2012 Auditor-General’s Report has revealed severe mishandling of RM2.051 billion with regard to hiring security contractors for schools between 2010 and 2012.

From poorly prepared contracts to hiring of septuagenarians as security guards, the auditor-general said the management of security services in 35 schools and hostels surveyed was generally unsatisfactory.

The audit, which involved schools in Selangor, Perlis and Sabah, found that the contracts were not uniform and did not state specific requirements set by the Education Ministry.

In some schools, the audit found that contractors had breached the terms of their contracts by hiring security guards who are too old, unfit, dressed inappropriately, ill-equipped and had not been subjected to background checks.

Nineteen of the 35 facilities visited by the audit team did not have anyone guarding the entrances and people were seen entering and exiting freely.

The audit team found that the Education Ministry was not keeping proper tabs on the implementation of the security project and failed to penalise errant contractors.

Now who is the contractor? We would think that those who are manning the tender and the contracts department in the ministry would have been a seasoned disciplinarian by now and is aware that the audit department will be breathing down his/her neck just to ensure that the security contracts are running efficiently. But obviously, we cannot train the civil servants in charge of this important task to be honest and diligent. In the end, payments are duly made without any regard to the delivery of services.

Another governmental arm which wasn’t performing was the police:

Police lose weapons, Customs men lose shoes

The Auditor-General’s 2012 report reveals that the Royal Malaysian Police Force recorded a total of 309 missing items in the form of weapons, handcuffs and cars.

It also reported that the Royal Customs Department wasted a whopping RM600,000 on 7,659 pairs of shoes that were not according to specification and were then badly damaged during prolonged storage.

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The items missing from the police force were recorded between 2010 and 2012, resulting in losses amounting to RM1.33 million.

The auditor-general reports that handcuffs topped the list of missing items at 156, followed by 44 weapons and 29 police vehicles.

Although the amount is small, the fact that weapons can be missing from the police force shows that there is a severe lack of controls in the police department and this doesn’t just involve money but it involves public security issue as well. Where did all the weapons go? How could they have lost it? From now onwards, KDN should really look into their SOP because if from 2010 to 2012 we lost 44 weapons, imagine how many had sifted through the cracks in years before that.

Then there is this incinerator project which not many know of:

Incinerator projects cause millions to go up in smoke

The National Solid Wastes Management Department (JPSPN) spent RM199 million on incinerators over the last four years, and then found there was no expertise to operate such machines in Malaysia.

All four incinerators at tourist spots in the islands of Langkawi, Pangkor and Tioman and in Cameron Highlands saw construction delays of two to three times their original schedules.

And even after completion, the Auditor-General’s 2012 Report says, three of the incinerators were not operated for 223 to 642 days, all because of the lack of expertise.

A fifth incinerator planned for Labuan was scrapped.

So basically RM200 million was spent on something we don’t really know about. On top of that, it was unused for up to two years because the person in-charge do not know how to find ways to operate it. For two years they presumably tried to find people who can make the incinerator worked, but alas the search was futile. Yes they could find people who can build it, but they couldn’t learn or find people who can operate it. Two years.

Bear in mind all this money wasted came from Budget 2012 which was made in 2011. May we suggest the Treasury to look into the numbers again and prepare a much lower budget for the agencies above for Budget 2014? From the lackdaisical attitude and their cavalier approach towards handling other people’s money, surely they should not hold a lot of money to begin with.

Next is the issue on the police force again:

Costly planes, but grounded because no funds

Between June 2008 and December 2010, the Malaysian police purchased five Beechcraft King Air 350 aircraft for a whopping US$58.25 million (RM175.24 million) for their Air Wing.

The planes were supposed to facilitate the upgrading of the nation’s air security.

However, within less than five years of usage, one of the planes had to be grounded for eight months, between September 2011 and April 2012, while another could not be used between June and November 2012.

Furthermore, out of the five, only three aircraft have been delivered so far.

The project was awarded after direct negotiations with Hawker Pacific Airservices Ltd, through its agent  EZ Aviation Sdn Bhd.

5 planes costing RM175 million that means each plane is averaging RM35 million. We could understand if the cost includes maintenance for the next 10 years but if it doesn’t then RM35 million for a twin turboprop aircraft at a base price of USD6 million (according to the plane’s website) is way too much.

But that is not the least of the problem. The fact that two aircrafts have not been delivered until now should ring some alarm bells from the police’s procurement department. But obviously someone was sleeping on the job.

Of course the mother of it all is the fact that some people in RTM thought they could get away with this:

Clocks, scanners and “miscellaneous items” cost RTM RM9m, up to 7,200 times over budget

The Broadcasting Department blew its budget spending RM120,210 on clocks and scanners alone, thus overpaying for these items by thousands of times beyond its actual cost.

Despite budgeting RM100 per unit for a clock and RM200 per unit for an A4-sized document scanner, the Auditor-General found that the Broadcasting Department spent RM3,810 per unit for “branded” wall clocks and RM14,670 per unit for the scanners.

In the 2012 AG Report, it found the department bought 20 branded wall clocks and three scanners for national broadcaster RTM’s offices in three states.

The department paid RM76,200 for the clocks, which was 3,810% above its estimated budget, and RM44,010 for the scanners, which was 7,235 times more than its initial budget.

The department also bought five scanners for A3 sized documents at an inflated price of RM20,630 each, 103,150% more than its estimated budget of RM1,000 each.

Although the ministry had explained on the use of those clocks, they were silent on the RM20,000 scanners. Anyone would be hard pressed to explain what kind of nuclear powered scanner they have bought.

Heads of department should really take leaf on how private companies are saving money. They treat their money like their children’s money. We have known so many stingy CEOs, prudent CFOs, very strict tender committees and a well disciplined procurement department. All in small, medium, and large private companies. Do you think the CFOs in YTL, Hong Leong Group, throw money just like that?

We need to look at ourselves and learn the concept of saving money which doesn’t belong to us.

Lastly is the bonus payouts by the GLCs. Although this is not mismanagement per se, but it is worth mentioning.

Bonus for losses, the GLC way for rewarding employees

Seven government-linked companies (GLCs) rewarded its employees with fat bonuses despite recording a combined loss of close to RM2 billion in 2011.

The Auditor-General Report today stated that Syarikat Prasarana Negara, an infrastructure company which had the highest recorded deficit of RM763 million among the group, gave its employees between one-and-a-half and two months bonus each.

The report also found that MIMOS, the country’s research centre, was the most generous of the group, by giving out between two and three months bonus to its employees, despite making a RM4.6 million loss in 2011.

Meanwhile, employees of KTM received the least with the railway operator distributing ex-gratia payments of a half-month’s salary or a minimum of RM500 in the same year. The company made losses of RM103 million.

The other companies which lavished its employees with bonuses despite making losses were Amanah Raya, Jambatan Kedua, Indah Water Konsortium (IWK) and Cyberview.

Now this is a catch 22 situation. The GLCs which provide services to the people are generally working under the pretext of ‘social responsibility’. Obviously they can’t make enough money otherwise the best possible way to increase the profits is to just charge the customers more.

In other words, IWK will just need to increase their rates, Prasarana and KTM just need to increase their fares. Since customers are a bunch of easily annoyed creatures, the costs were never truly borne by the public (Prasarana for instance have not reviewed fares for more than 10 years).

Realistically, GLCs need to reward staff who are performing really well despite the outcome of the financial accounts otherwise these companies will unable to motivate and retain good workers. They will move elsewhere if their contribution are not recognise.

And as mentioned in the tweets of Prasarana’s CEO, Datuk Shahril Mokhtar (the only CEO so far who took to twitter to briefly explain the AG Report findings) – Prasarana’s financial position is automatically handicapped by depreciation and financial costs amounting to RM700 million annually which greatly contributed to the RM763 million loss. Not surprising since Prasarana is an asset and infrastructure based company.

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No explanation have come forth from IWK, KTM, MIMOS, Jambatan Kedua etc.

The Treasury however, did issue a brief response:

The treasury said these GLCs were not set up for the sake of making huge profits but to fulfill its social responsibility and nation-building objectives.

Hence, it was up to the Ministry of Finance to determine if these companies had achieved its key performance indicators

24 thoughts on “Brief Outlook on AG Report 2012

    • Many people don’t understand that the Auditor General’s Dept is a Government department which acts like the internal audit section of a company, designed to check weaknesses, take remedial action to prevent recurrence of mistakes made and to improve the performance of the company or, in this case, the Government.

      If you have any relative or friend, or contacts of relatives or friends, try to meet and speak to any PTD Officer (otherwise any Internal Audit Executive of a large firm to get some idea) and they’ll tell you that

      1. As the Government civil service has a total of 1.3 million personnel, obviously mistakes recur every year, intended or otherwise. Black sheep occurs in any community. What is important is the action taken to identify them and whack them – according to procedures that exist under the standard rules and regulations or SOP of the Government.

      2. The Auditor General’s report is sent to all Government departments, and the Ministries which supervise them, so that the Heads of Departments and the Secretaries General of Ministries take action, and action is indeed taken every year. Disciplinary action on Officers identified as responsible for mistakes made is taken by the Public Services Department and that may range from stoppage of annual salary increment, promotion or even dismissal from service.

      3. Criminal cases are referred to MACC and Officers convicted by the Court are dismissed from service – even if jailed for a day, if I remember correctly what I was told.

      4. Those doubting MACC action, should read the MACC website – there is a list of convicted corruption criminals there, including Government Officers.

      By all means, whack the willful criminals – those Officers intentionally cheating the Government – but perhaps be easy on those who did not have any intention of making mistakes, like the Police losing 44 guns, for which the IGP said they have investigated those cases but they remain unsolved cases.

      The Minister of Home Affairs yesterday said they have written to the Auditor General explanations on the lost weapons but they were not included in the Report. It must be noted that, while there are also black sheep in the Police Force, PDRM is a reliable and respectable institution for the maintenance of peace and order in the country,

      Like

  1. JMD,

    You’ve left out AG’s report on Khazanah.
    Not surprised that Khazanah has a healthy financial state of account.
    Correct me if Im wrong but Khazanah is a mere investing arm of the government.
    Hence it should have a healthy balance sheet.The only black sheep under its business portfolio is MAS.
    So one can understand why they are trying to sell off/privatise MAS.

    One important and serious thing to highlight here is an urgent need to audit on how the disbursement of loans by the Bank officers from the funds allocatted by the government to bumicontractors, There is definitely a misapproriate handling of loan approvals.

    In general , as a commentor earlier highlighted it’s the same jokers repeating the same mistakes in the Ministries and Government Depts.year in year out. So what’s new?

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    • I don’t think “it’s the same jokers repeating the same mistakes in the Ministries and Government Depts. year in year out.” I’ll be interested to have proof or even strong indications of this by way of names, or positions, or even just the Ministry concerned – I’d like to whack and whack endlessly those “same jokers”. Verbally, in blogs, in private conversations, and, who knows, it may even reach the Public Services Department.

      But if you are referring to Khazanah, I might agree with you. I join you in your concern for Khazanah and their strange (to say the least) acts and omissions in the past several years. But then Khazanah is not a Government Department – it’s very name, Khazanah Nasional Berhad shows it isn’t, it’s headed by a Managing Director, responsible to the Prime Minister as Chairman. The power it has is not comparable to any in the country.

      Yes, Khazanah it outside the ambit of the Public Services Department, or even the Chief Secretary of the Government, “Azman tak makan saman oleh sesiapa dalam Gomen”, they say, and he is beholden to only the Prime Minister. And the PM’s brother, Nazir, some people say – the “bastardization of the NEP fellow”.

      The Auditor General cannot touch him. Like the Auditor General cannot audit “the disbursement of loans by the Bank officers from the funds allocatted by the government to bumi contractors”, I don’t think. So, we need another blog post to discuss these, maybe.

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    • Why not you say a bit about the AG’s report on Khazanah. Many of us, like me, have not the time to read the very thick report. Would appreciate if you say it here. Please.

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      • Alamak, “terpressed” the post comment button before finish typing my comment addressed to wanitabukittinggi –

        Khazanah receives grants from the Gomen, don’t they. If so, they’ll always have “a healthy balance sheet” – habis duit, mintak lagi, Pok Jib is Chairman, sonang dapek duit tu ah. Bayor berjuta juta consultation fees kpd CIMB, bosnya Nazir adik dio pulaknyo.

        Oden pun meluat di bueknyo.

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  2. JMD,

    “…We need to look at ourselves and learn the concept of saving money which doesn’t belong to us….”

    But the money DOES belong to them and they can do what they please with it, including paying ridiculous prices for items or spending huge sums on vanity projects.

    Like to make a guess what happens to the overpayments?🙂

    Such blatant acts have been going on for years and years and years and yet BN gets voted in faithfully every GE. Makes you wonder, doesn’t it?

    BTW, did you read in the Auditor General’s report of how some bloggers were paid to promote various Govt events?

    I am too lazy myself to figure out which bloggers were paid but the Auditor General’s report does name the projects so it should not be too hard for anybody who really wants to find out which bloggers got paid🙂

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    • Of course the same explanation can be said to Pakatan states where the AG had highlighted mismanagement and inefficiencies but still the voters vted for Pakatan in those states. Read: https://jebatmustdie.wordpress.com/2012/10/16/the-ag-report-2011-as-unreported-by-opposition-portals/

      Ever wonder why Pakatan bloggers never highlight any of their leaders’ weaknesses but blogs like this one would undoubtedly highlight the weaknesses of BN although this blog is seen as pro BN? We want a better future. Not a skewed one where Pakatan weaknesses are hidden by their goons in the social media.

      Anyway your argument is true after all, for Pakatan states, the money DOES belong to them and they can do what they please with it, including paying ridiculous prices for items or spending huge sums on vanity projects.

      As for the bloggers who are paid to promote events, we are quite curious too. Maybe you must not be lazy in figuring out who they are. Otherwise you will just be a second class citizen with third class mentality🙂

      Thank you.

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      • I know you are sarcastic but the Second Class Malaysian and others like him may not understand sarcasm, so I must point out to them that the money DOES NOT belong to Pakatan but to the Rakyat.

        Khalid Gagap even does not know how to administer as MB, keeps the money to show surplus in State accounts before PRU13, to show rakyat he is good Manager yet he has a RM66 million debt with the bank that has got a Court Order against him not yet enforced coz he is MB.

        The rakyat voted PR Selangor again at PRU13 not because Khalid or PR is good but because the Red Bean etc propaganda against BN was good. Example, propaganda against BN corruption but quiet on DAP corruption like Selangor Talamgate, many other gates for Khalid to pay his huge bank debt, DAP Penang all sorts of gates, Perak DAP Nga and Ngeh Tailorgate even just 49 days of getting power, then 10,000 acres Kelantan land bribery from Nik Azizgate. Hah, even Nik Aziz has a gate!

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        • Anon 8:59AM,

          In case you did not notice, I was also being sarcastic but never mind if you didn’t notice it.

          Are you serious? Comparing the piddling amounts of Khalid, Talamgate (which was disproven) and the Nga Ngeh debacle to the BILLIONS we, the rakyat have already lost thru UMNO/BN?

          Now, pls, don’t misunderstand me. If Pakatan politicians are guilty, whack them. But when not even the might of UMNO/BN can take them to court, one has to ask if those claims of Pakatan corruption really do hold water.

          Don’t you read the articles which JMD have taken the trouble to put out for us to read? I do.

          Note we are not even talking about good ole Taib in Sarawak – your hair will curl if we included him in the conversation.

          It’s OK. I understand. You probably love to scream and shout at the Red Bean Army and yet you behave just like them🙂

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      • JMD,

        By all means, if Pakatan states are guilty of such blatant expenditure, they should caned just as vigourously but the case has just not be made satisfactorily by the critics.

        Unfortunately, for similar accusations in BN-controlled states and in the BN-controlled federal govt, the evidence is strong that monies are going into personal pockets.

        For me, I am sadden by the fact that the corruption runs from the highest levels down to the lowest levels.

        I can understand the big wigs wanting more and more, but my heart truly goes out to the cleaners, the drivers, the clerks, the junior workers, etc who do it because the relatively small individual amts taken by them mean so much to them due to their low salaries and the difficulties in making ends meet.

        To many here on this blog, a RM15-RM20 pair of new shoes mean nothing but I have personally seen the pride of owning a new pair of shoes in the eyes of a 12-year-old LABOURER helping his dad. Yes, they are Melayu and I was so embarassed. I was fortunate to befriend them and be allowed to buy them lunch and cold drinks several times.

        The real amts lost by BN at the state-level and federal-level dwarf the alleged amts lost by Pakatan.

        As far as I am concerned, all the gnashing of teeth over corruption in Malaysia will come to naught, my dear JMD. The unholy alliance of UMNO-MCA-MIC will continue to rob and plunder all the way to GE14, when pro-BN blogs will conveniently forget all these corruption claims just like they did for GE13 and GE12 and GE11 …..

        Heheheheh!! I had already mooted a move down to third-class status in a previous posting so I’m way ahead of you there – again🙂

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        • No problem you want 3rd Class, Mister. But problem if you don’t talk truth.

          You said “BN-controlled states and in the BN-controlled federal govt, the evidence is strong that monies are going into personal pockets.” What evidence? May be true, but still, you accuse wildly.

          You also said “my heart truly goes out to the cleaners, the drivers, the clerks, the junior workers, etc who do it because the relatively small individual amts taken by them mean so much to them due to their low salaries and the difficulties in making ends meet.” You say OK for them to take corruption? You have any principle?

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          • Shasha,

            One part of the evidence is the Auditor-General’s Report. Is that good enough for you?

            There are more sources but you only need to open your eyes and do your own research if you care about Malaysia. My guess is that you are smart enough already and there is no need for me to spoonfeed you.

            Hm, is it right for a poor person to be corrupt?

            That’s a good question and it is difficult to answer.

            When a poor person, probably with low education, sees others growing fat on corruption, my guess is that he/she begins to have feelings of jealousy and anger.

            He/She probably knows instinctively that it is wrong to take corrupt money but the RM500 or RM1000 is a HUGE sum to them.

            It means buying that nicer piece of meat for the family, it means going to KFC or MacDonalds for the kids, it means buying that beautiful piece of jewelery for the wife.

            To be honest, sometimes, I would rather a poor man being corrupt than a rich man. The rich man has already had more than he can eat or enjoy and he wants more???

            Never mind. I am sorry. It is just my silly principles at work again because all corruption is wrong.

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            • You know the difference between opinions and evidence? Read my second para again.

              But then maybe no point to argue further. Tengku A Rahman told Chin Peng “I want you to surrender.” Chin Peng said “I want you to recognize me as a communist.” Or something to that effect.

              But you have comprehension and perception problem. And the inability to rebut sensibly. Previous comments have pointed that out.

              Maybe you should argue with Chin Peng. Or the likes of him since he is dead.

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    • “Such blatant acts have been going on for years and years and years and yet BN gets voted in faithfully every GE.” – read my comment at 5:56 AM above. Note that such acts also occur in Pakatatan Rakyat-ruled states.

      “BTW, did you read in the Auditor General’s report of how some bloggers were paid to promote various Govt events?” – if you want readers to believe what you say, why don’t you write them out here? Some examples maybe.

      You are just being convenient, isn’t it – saying “I am too lazy myself to figure out which bloggers were paid”. Too lazy? No wonder you are Second Class.

      Now, you are back like you did in the previous post, casting aspersions and making wild observations without providing justification or even explanations. The Auditor General’s report naming the projects can tell which bloggers got paid? Do you know how many bloggers there are who talk about Government projects?

      I agree with what they say about you – weird thinking, twisted mind and demented personality. Let’s criticize, man, but justify it and provide explanations. Don’t be “too lazy” if you want to criticize.

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      • Pemerhati,

        The owner of this blog knows about the payments to the bloggers as mentioned in the Auditor-General’s report.

        I would not be surprised if he also knows who those bloggers are as I have reason to believe he has impeccable sources of information.

        And yes, I am too lazy to do your research for you🙂

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        • I know nothing of the payments nor the knowledge of who the bloggers are. You must be so please with yourself to write this comment.

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        • Very much the Red Bean kind of wild accusation. Yet he accuses others of being Red Beanish.

          Tengku A Rahman was right in telling him to go into the jungles again at Baling. And wandering all over the places in the Betong Salient, Bangkok etc. Died, cremated and ash thrown away somewhere in Thailand. Not even allowed to be buried beside his father’s grave in Sitiawan.

          You are from Sitiawan, 2nd Class? Your thinking is like Chin Peng Sitiawanish. You might not even be Malaysian, like Chin Peng, are you?

          When he has no facts or arguments to substantiate his wild allegation, he simply says too lazy to research. What a demented personality.

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    • “The audit, which involved schools in Selangor, Perlis and Sabah, found that the contracts were not uniform and did not state specific requirements set by the Education Ministry … “

      Ooi, 2nd Class, Selangor is Pakatan ruled lah. Got a Selangor State Education Dept lah. All under the MB what. You mean, Pakatan not ruling properly all those past years? The Exco in charge and MB not checking? Doing what all those years ah?

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  3. “hiring of septuagenarians as security guards” –

    Difficult to get manpower like that, that’s why Benglas etc are imported (40,000 by Bersih to vote, said the Minister?)

    But Schools being part of Government, should be no problem. Ministry or State Education Department concerned can apply Work Permits for Indons or Benglas. (Don’t use non-Muslims otherwise they make noise fasting month children eating in temporary canteen (normal canteen under repair) in dressing area next to bathrooms, hehe).

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  4. All these high mark ups are nothing new. Its due to gamemen policy to enrich bummies. Even in construction of garmemen buildings, the markups are as high as double the actual cost of construction.
    In a recent deal i encountered, the multimodal transport operator wanted 60% profit just because he was a bummy and had a multimodal license issued by mof. The actual non bummy guy had to fork out the money, use his own office, do the operations, collect payment and gets only 40%.
    The other bummy i encountered wanted the non bummy to build hostel for garmement university based on contract he got and wanted 20% of the contract. Out of RM300/student, he wanted RM60 as his marketing fee. That is why building collapse and students get lousy accommodation.
    The beachcraft fiasco is a good example. The garmemen can buy direct,but cannot do so due to bummy policy. Must buy from mof bummy contractor who marks up a lot.
    This could also be the reason why it costs so much to refurbish the RMAF MIG 29. The local bummy agent wants a high mark up to the actual price. So RMAF thinking of replacing it instead.
    And the garmement tolerate and encourage this due to its bummy empowerment policy.
    This could also be the reason why bummies shun the private sector projects as margins are not as lucrative. Inai kiara which does port dredging with a initial 15 year contract found it not viable to do dredging in brunei because they will have to compete with international contractors.
    So you see, the bummy mof is a license to rape, loot, pillage, threaten, riot, create mayhem in the guise of special privilege.
    Abolish this mof bummy requirement and our country will save tens of billions which could then be used to upgrade rural education and living standards.
    We should emulate the europeans. Food are subsidised, so its cheap. But petrol are taxed to prevent wastage and pollution.cheap food means good nutrition for our kids and better income for farmers. Instead the revers in happening. Paddy farmers are a dying breed and the ones i encountered were Thais who rent the land from local landlords. In malacca, paddy fields are neglected and unattended.
    The guards are the least of the problem in schools. I have to disagree that old guards should not be allowed to work and supplement their pension or income. Schools Are not banks. What i am worried about is that the abolishment of ppsmi was done intentionally so that translators at dewan bahasa dan pustaka can earn lucrative income from this.
    So you see, its the bummies who are shooting themselves in the foot but lame others for their ills.

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    • Waaaa, a lot of accusations. With examples, also. Wonder if true cases. Opposition people often make wild accusations, difficult to believe.

      The “recent deal (you) encountered” – you have not explain the scenario enough for readers to understand the case. What multimodal transport operator? Don’t have to give name, but explain lah what you mean “multimodal”, why you need to use the word “multimodal”, how it concern the bid, like that.

      You have not even explain what bid – bid to operate a transport company? Or bid by the non-bumi to Ali Baba or sub the bumi company’s license? If so, sound like private deal between two companies, and how related to Attorney General’s Report we are talking about?

      If “multimodal” means specialized, special license, then maybe the license holder has put a lot effort to get qualified as “multimodal” and asking 60% is fair.

      Why not the non-bumi company do genuine joint-venture business with the bumi company, not Ali Baba? Offer to buy shares in the Bumi company, share knowledge and contacts in running the business. Don’t want because if operation fails, or not satisfactory, get blamed, black listed, only the Bumi company’s name kena, the non-Bumi name not black-listed? Get 40% profit but no risk on the his name what.

      Like

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