Saturday, March 24, 2012

UMNO and NFC: Rushing Rich

In this posting I just wish to note some recent development in the National Feedlot Corporation saga, which conjures a worrying picture beyond the immediate issues at hand.

There had been news circulating that a Singapore company is suing outfits and executives associated with the NFC for huge arrears in rentals. Entire floor of prime business premise had been leased in Singapore and yet left idle. If I am not mistaken the premise is said to carry a monthly rental of RM 22 million. If my memory is correct and the fact is accurate, I don't think the soft goverment loan of RM250 is going to last very long, given  such callous management style.

A few days ago I read a statement by the Chairman of the Parliamentry Financial Committee that NFC had failed to serve its first instalment for the RM250 million, due after three years from the date of its granting. This if of course worrying. Would this be just another case fitting the general pattern of abuses and corruption in Malaysia where loans are simply taken and never revoverable for many many 'reasons', ranging from bancruptcy, poor management, write-offs, to crisis requiring bail outs and many other forms of ' unforseen circumstances'. This is particularly worrying considering NFC had failed in its very first instalment of the payment, which could raise the question whether NFC's had ever intended to repay the loan of RM250 million in the first place.

In the meantime the Secretary General of UMNO had made a statement a few days ago that there is no need to pressure the Wanita UMNO Leader to quit her party position because she was elected to the position. I don't wish to question the party position on whether the Wanita Chief should or should not quit her position, as I understand internal politcs and calculations can be quite complicated. However the Secretaray General's statement and its implications is of another matter altogether. What if the demand for her to quit comes from those who elected her in the first place? Don't they have the right to review their mandate in the light of changing situation? Is anyone for that matter beyond review and accountability 'once elected'? Shoudn't any party be sensitive to the question of the integrity or performance of its office bearer's 'once elected'?

Looking beyond the specific case of NFC, one the major problems facing our nation is that there are too many people always in a haste to be rich, in lieu of hard work and toil. This is in contraventon to the natural law that rewards is always in return for work. Hence there is always many people dreaming of a life of ease and plenty, counting on networks, cronyism, nepotism, political influence, power, patronage and almost everything else besides honest work or toil. Those involved in this manner often forget or choose to forget that whatever is begotten in this manner is always at the expense of others who had done honest work and toil, yet being denied of the fruits of their labour and striving. An obvious example would be how tax payers money are being squandered ever so easily by those rushing rich!  

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