Wednesday, March 1, 2006

"We Have To Sacrifice"

$4.4 Billion Sacrificial Lamb

Malaysian Airline (MAS) needs the government to finance around $2 billion for their restructuring scheme.

Telekom reported 4th quarter losses of $701 million ... hope they are not asking the government for another billion funding.

Khazanah announced they are trying raise $10 billion Islamic bond to finance it's investments. Khazanah has spent US$866 million (RM3.212 billion) since January 2005 buying a few overseas companies such as Apollo Hospitals Enterprise Ltd in India, Parkson Retail Group Ltd in Hong Kong, MobileOne Pte in Singapore, and PT Bank Lippo in Indonesia. Hope they are not hiding behind billions of losses unreported.

Perwaja Steel are still compressed under mountains of losses to the tune of some $12 billion. Are they also seeking some fundings?

Pak Lah said the savings will be used to finance a few development projects for public transport. It is known that the Dedicated Highway from Bulatan Pandan (Davis roundabout) to Putra Jaya will be partly financed by the government to the tune of some 930 million ... will it come from the 4.4b?

The Crooked Bridge, now called Scenic Bridge may look cynical as they would also need government financing. $4.4 billion may be also eyed!

Penang 2nd Bridge? Koh Tsu Koon had sounded today that the government should use part of these money to finance the bridge.

What else? Public benefit? or benefit for the selected few?