From Libya to Tok Bali, let us move over to something nearer home that involve you and me : The millions of 'small bumiputra men and women' all across Malaysia,who hope one day we can really rely on our ASB and ASN savings to sustain us when that magic KWSP dwindled to a halt in our retirement days.
I was shocked to read the HARAKAH headline today enblazoned on the front page:
AKHIRNYA NAJIB MENGAKU RM52 BILLION LESAP .!
KEMEROSOTAN TERUK SAHAM BUMIPUTRA DARIPADA RM54 BILLION KEPADA HANYA RM 2 BILLION MEMBUKTIKAN KEGAGALAN DASAR MEMBANTU BUMIPUTRA YANG DICEMARI AMALAN KRONISME, NEPOTISME DAN RASUAH.
I am not an economist ,neither am I an accountant. I hope this is not right.
I dont read papers nowadays, be it NST, tabloid or even Harakah. My wife, a non card carrying member of any political party like me, however has her favourite read : HARAKAH. She got her Harakah illegally though on a weekly basis from her Indian news vendor. It is illegal to read and sell Harakah nowadays you know unless you are card carrying members of PAS. Both of us are neither PAS, nor Amenu , not even PKR, or DAP or MIC.
CNN and BBC are getting tedious even to see. Al Jazeera even has changed since Qatar joined the Alliance on the Libya issue!
We got tired of politics, even international politics ! I just watch The Iron Chef nowadays. My wife sticks to her KBS.
And the KLSE index is not even at sub 1000 or 900. It is currently at an all time high of 1515 ! What happened ?
Let us examine the possible loses or rather the 'anatomy' of such massive loss over the years that in a way impacted on the ASB slimming down to just 2 billion :
BBMB bailout , a total of 4 times - RM10.4 billion.
Perwaja Steel - RM10 billion.
Indah Water Konsortium (IWK) - RM200 million.
Konsortium Perkapalan Berhad - RM1.7 billion.
Hicom (Proton) losses over the years- RM1 billion.
MAS bailout from over repayment above market value of shares - over RM1 billion
KWSP, for Danaharta and Khazanah buyout of Timedotcom shares not taken - RM3.3 billion.
Bailout of LRT PUTRA and STAR - RM6 billion.
Bailout of Renong/UEM - RM12 billion.
Bakun Dam, settlement - RM 1 billion
InventQjaya - RM228 million
Crooked bridge, settlement - RM257 million
Broga Incinerator settlement- RM500 million
Agusta loss- RM510 million
Port Klang Free Zone 'extravaganza' - RM4.6 bilion
Offshore Petrol Vehicle scandal(PSC-NDSB) - RM6.75 bilion
Blok L dan M - RM 380 billion
Sime Darby - RM 1.6 billion AND COUNTING !
Pos Malaysia - RM 546 million
Felda - RM 8 Billion
'Additional', miscellaneous from Khazanah - dunno just yet !
...of course not all coming from ASB, some from GLC's etc etc....Somebody somewhere need to pay these losses. It is great that we still have our Petronas.
My God !
additional, Bank Negara Malaysia, some 15 years ago, courtesy of current 2nd Finance Minister's dabbling in money market - 10 billion.
He subsequently got promoted after it.....Oh Malaysia