Letting Plus Go Is Ph S Dignity
IF THE government proceeds with its plan to sell off PLUS to Hong Kong's firm RRJ Capital, there would be nothing left for the country to cling on. Moreover, Khazanah Nasional will be made a buffer stocks manager for some entities already sold partially or entirely.
This is going overboard, too overboard. There seems to be no more pride for Malaysians to hold. Everything is being let go by the Pakatan Harapan government on the pretext of servicing the allegedly 'bulging' public sector and to finance some development projects.
So, this is their way. As the opposition before GE14, they were accusing Najib's administration of wanting to sell off the country to China and other forces. And now, look at their destructive method of resolving the dwindling economy.
The economy is already becoming adversely unbearable. For a developing country like Malaysia, the RM1 trillion foreign debt which represents almost 76 per cent of the GDP is something which is beyond comprehension of experts, locally and abroad. The multiple foreign loans signed by the government with Japan, for instance, is as good as making Malaysia a new territory of Japan.
This proofs that the government of Dr Mahathir is very incompetence in managing the country, particularly its finance. At the rate it is going, almost RM30 billion in asset collected during the Barisan Nasional government has been sold since Pakatan won the GE14 on May 9, 2018.
Where is our dignity now? The Kongres Maruah Melayu on Oct 6 is just a political platform for Dr M. It failed to resolve the matter of Malay dignity but plunging the nation's dignity further into slalom.
Assets under Khazanah like IHH Berhad were sold to Japan last November for RM8.41 billion. Khazanah too has sold entirely its 55% stake in tolled highways to Jakarta for RM2.1 billion in September last year.
Now its PLUS turn. The RM3.5 billion offer to RRJ Capital is far below market price if the whole concession is taken into account. I am sure some changes and adjustments will be made to it, meaning that its staff will be replaced or displaced. In other words, Khazanah is losing its role as the country's investment entity.
I remember when Dr Mahathir himself accused Najib of selling the country to foreign companies. It is merely an accusation now, and he himself is actually using the opportunity to do so. And where are the senior economic advisers appointed to monitor such malpractices?
Its time for him and his Cabinet to give it a due reconsideration. When foreign investors are shying away from Malaysia, we take a shortcut to raise money for development. Or to whose purse is the money going?
This is not right. Maybe he and finance minister Guan Eng should go. Rather than ransacking and destroying the economy, Malaysians do have a choice in choosing the right ones.
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