Warisan Zaman Kleptocrat : MRT Makkah Pun Depa Rasuah !! Nauzubillah !! RM450 Million Duit Kita Lesap !!

 

PJ Feb 4: 

• Prasarana involvement in Makkah Metro between 2015 - 2018
• Prasarana lost RM450.8m in Dec 31, 2019 (FY19)
• negligence, failure in fiduciary duty, abuse of power 
• (report to) authorities for investigation

• April 16, 2015, Prasarana awarded 3 yr contract in north Makkah
• taking over from China Railway Construction Consortium
• project caused considerable losses to Prasarana year to year

Prasarana conducted 18-month forensic investigation  
investigation tabled to board Sept 18 2020 
losses almost RM0.5 billion 

money belong to public, taxpayers
We are GLC, money for project is public money
company accountable to public

Prasarana will lodge reports with MACC and SSM

Prasarana embarked on internal audit in 2018
followed by forensic investigation 
found grave issues requiring further scrutiny 

Two main areas were 

• overall execution, contractual obligations and 
• maintenance repairs, overhaul, spare parts 

completed findings tabled Sept 18, 2020 
handed over to external legal counsel for scrutiny 

• When asked what really happened Prasarana declined to divulge details 
• Prasarana declined to name top management between 2015 and 2018

many key officers in the project had left Prasarana 
previous subcontractors, consultants based overseas

• July 2017 Rafizi Ramli alerted Prasarana huge financial loss in Makkah
• He estimated Prasarana losses RM142m 

My comments:

Tuan-tuan, so Prasarana lost RM450 million in Makkah, Saudi Arabia between 2015 and 2018.  Prasarana is a GLC. So they burned our money - tax payers funds.

Let me make a guess - the CEO, senior executives, Chairmen, members of the Board of that failed enterprise in Saudi Arabia must have regularly flown on 1st class tickets to "visit the site" in Makkah?  Stayed at five star hotels, went on side excursions to perform the umrah, the hajj etc etc. All at taxpayers expense. Bukan duit bapak dia.

Ok they lost RM450 million in Saudi Arabia. So what? They will just fork out more taxpayers funds to cover the holes. Unlimited taxpayers funds. 

They are not going to solve this case. Why? Because:

• many key officers in the project had left Prasarana 
• previous subcontractors, consultants based overseas

Their subcontractors and 'con'-sultans were overseas, maybe from the Middle East as well. All the abdools have disappeared lah.  

So will the MACC be sent on a wild goose chase to track down all these people all over the world? And waste more taxpayers funds? 

Ok here is some history. Do you remember this story, from 2010? This is another GLC that lost RM1.0 BILLION in Qatar. Yes RM1.0 Billion.

So now this is the THIRD time (that we know of) where our GLCs are losing taxpayers funds by the truckloads when they venture into projects in the Middle East. I am also referring to that 1MDB, UAE, IPIC, mubadala-la-la-la caper.

We may not be aware of exactly what went on but understand this - you dont lose hundreds of millions or billions because you are competent.

Before I go on, may I suggest to these kampong boys and girls to first learn to compete in an open market environment here at home in Malaysia before they venture overseas?

This is what happens when you run away from the real world and cocoon yourself inside the non-competitive, make believe world of the GLCs. Protected by your monopoly licenses, oligopolies, unlimited taxpayers funds, with no worries and no ownership risks. Nothing of the sort.

And then they think they can compete in the real world. So they lost another RM450 million in Saudi Arabia.

The other thing that easily fools the kampong boys in the Middle East is the "arab" connection. Recall the mubadala-la-la-la fellows, the UAE fellows etc in the 1MDB caper?  They think the abdools are all straight forward and honest. Well you are finding  out now - again.   Padan muka. 

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