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Wednesday, August 31, 2016

Gomen finances in deep sh*t

Image result for malaysia bankrupt

A few weeks back I posted someone's comment that if the IPIC arbitration (in London) is awarded that RM27 bilion against 1MDB our gomen (as owner and guarantor for 1MDB) would go bankrupt by July something of this year. 

The prepaid blogger pelacur went to town when July came to pass and the gomen did not go bankrupt. They said all sorts of things about me.   These are the semi educated prepaids who write for money (according to their testimony - not mine).   

Two things here. The IPIC arbitration indeed hangs like an axe over the super morons in gomen. 

And about the 'bankruptcy' well folks it looks like the situation is worse than the gomen going bankrupt by July 2016.  I would like to take back my words about the 'bankruptcy'. 

According to some info that I received the gomen has been technically "cashflow bankrupt" already - from way before July 2016. There is an embargo on saying anything further for the time being. But I will update this point, hopefully in a few days.

The gomen finances are indeed in deep sh*t.  I received this from a professor at a gomen university :

"..labs in my Faculty have not received money for equipment maintenance for 3 years. How the salaried lecturers/ lab assistants still managed to keep the practicals running is a tribute to their ingenuity. How long can this situation last?'

I have already mentioned that one supplier has repossessed photocopy machines from a Ministry after the Ministry failed to make lease payments.  The gomen is already 'cashflow bankrupt'. They cannot pay all their bills.

Folks, recall I have been harping (again and again) that the gomen may miss paying salaries for its 1.6 million Civil Servants?  Well keep reading this space. 

The economy is also dying, especially the GLC economy. Maybank has closed 27 branches, which is 7% of their total branches.

The latest news say CIMB has closed 23 branches. This is also about 7% of CIMB's 321 branches. 



That is a total of 50 bank branches.  50 branch managers, 50 assistant branch managers, 50 current account officers, 50 credit officers, numerous other officers, tellers, clerks and security guards have to be redeployed or laid off.  Both Maybank and CIMB are GLCs closely identified with the Malay corporate economy.

Have faith folks. All this can be fixed. The fix is easy. But that moron has to go. His whole team has to go.  These are the incompetents. They have been running the country into the ground.

In 2003 Dr Mahathir reintroduced English into the school system. Then he retired. After a few years they changed it back to all Malay. Imagine if they had not changed it but stuck with it we would already have had 13 years of English and Maths in English. 

My second son benefited from the switch to Maths and Science in English.  English helped him pass his UK 'O' Levels at 14 years of age (Ini bapak dia punya show off lah). After that at age 16 he scored three straight As in his UK 'A' Levels (Maths, Chemistry, Biology) all of which he studied in English. He is now a very young surgeon at a hospital.  The English language education did help.

My older boy simply could not stand the gomen university system. He went to a private university where not only the subjects but also the lingua france on campus was English.  After he graduated (Architecture) he took some time off,  went scuba diving around the region, rock climbing, travelling around the region and making his mum and me a bit worried if he was bumming too much.  Then he decided to get a job. He zeroed in on just one Architect's firm, was interviewed for two hours by his boss  and for three years now he is a design architect who designs condominiums, apartments,  commercial complexes and houses.  The lingua franca among the architects is English. 

What I am saying is that it is easy to fix our problems. The fixes are really easy.  Of course if  F Troop is put in charge, then all our kids are going to suffer. 

More later on the gomen cashflows being technically "bankrupt". 

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