Tuesday 9 November 2021

From Scomi to AirAsia : Curiosity

is a song from American Punk rocker Iggy Pop taken from his 1979 album New Values,  which although was a commercial flop is regarded as one of the Punk genre's most critically acclaimed work.

I get curious
As curious as I can be
Because of curiosity
Curiosity killed the cat
But satisfaction brought it back

BULLS EYE INDEED.  Curiosity killed the cat but satisfaction brought it back.

I am extremely  curious why for the past three decades the Malaysian government  be it BN, PH or PN has insisted on throwing good money on "badly run business". 

We should have learned our lessons from Perwaja Steel and learn to make hard decisions, because often it is not that the sector which is bad, rather it is the people who are managing that sucks.

Najib Razak, is actually the odd man out,  he took bold decisions even at  the cost of hurting egos. READ : Proton under China management is no longer a laughing stock

But did we actually learn anything from the Proton episode,  that giving good money to 

a bad manager is an absolute  disgrace and the best way to court disaster.  HELL NO

Consider this, when PH came into power, one of the first things Anthony Loke did as Transport Minister when it came to KL Monorail  was to  give a RM303 million lifeline to the Scomi Group, to deliver 7 new trains by October 2021. This is a company, which even the Minority Shareholders Watchdog Group had way before this said, was not in a very good financial position.

Can anyone in Malaysia tell us, how come there is no news about the delivery of this seven trains, considering its already November 2021?

If you thought, Perikatan Nasional Government would learn from past mistakes, sadly they did not, but in fact created a NEW 

IN corporate  bailouts.

 Consider this some of our citizens had bought tickets from AirAsia X. 

 The total amount citizens and non citizens had given AirAsiaX is RM1.43 billion but AirAsia X only wants to return some RM7.15 million back to them.

For the citizens of Malaysia who bought the tickets must now live through the humiliation that their tax money  will  guarantee 100 per cent of  RM400 Million  given to AirAsia in case of a default