1 MALAYSIA MALL - What say you? A bloody shocker? - Sent by : Izazuddin Penang

INTERESTING ARTICLE BY SYED ALI

What say you? A bloody shocker?

This was followed up by a second sms from my friend: "Rakyat takda kerja. Pribumi merintih sendiri".

.

Anyway, earlier in the day I read this piece of news:

.

"KUALA LUMPUR: Government in talks with investors setting up 1Malaysia malls in Vietnam and China.

Domestic Trade Minister Ismail Sabri Yaakob said land identified in Ho Chi Minh City.

"Vietnam and China will be the first two countries the 1Malaysia malls will be opened,"

..India and Iran had also expressed interest. ..

1Malaysia malls, one of the ETP (entry point projects) under the retail National Key Economic Area, would be a private sector initiative. Ismail Sabri said 50% of the products sold would be Malaysian-made.

.

Let me say first off that Ismail Sabri would not know the difference between business and trade from a hole in the ground. Why in heaven's name are we building 1Malaysia Malls outside Malaysia?

.

What is meant by "a plot of land has been identified in Ho Chi Minh City"? Who has identified this land? The Government? Why? Is this taxpayer's money involved again? Why are we taking our taxpayer's funds to build shopping malls in other countries?

.

It is bad enough that the DBKL and Raja Nong Chik are using taxpayer's funds to promote Indonesian "warong businessmen" in Kuala Lumpur. They are helping Indonesians. Now Ismail Sabri is taking our taxpayers funds and investing in Vietnam, India, Iran and China? What's going on guys?

.

Back to the question : who has identified the plot of land in Ho Chi Minh? How much do we have to pay for this plot of land? Market value ke? Over valued ke? Crony punya valuation ke? Siapa bayar duit untuk tanah ni Ismail ? Do you understand what you are saying?

.

If the excuse is that a private sector company is involved, why then is a Government Minister announcing what a private sector company is buying in Vietnam, Germany or Japan? (err Dato, for your information Khazanah, 1MDB, Felda semua tak aci tau. They are not private sector. They are Gggg Llllll Ccccc meaning Government Linked Company meaning taxpayer funded).

.

I am a little bit puzzled - how can building a shopping mall in Iran, India, Vietnam and China be Entry Point Projects for the Malaysian economy? Please see again the second sms my friend sent me : "Rakyat takda kerja. Pribumi merintih sendiri"

.

So Dato, kalau kita buat shopping mall di Vietnam atau China, agaknya berapa banyak peluang pekerjaan yang dapat kita sediakan untuk anak-anak muda kita yang sedang menganggur dalam Negara kita? Unemployed graduates saja dalam berpuluhan ribu. Unemployed SPM holders in the tens of thousands.

.

Who will pay for these projects? Somehow I am not convinced that Indians and Iranians will be willing to finance the construction of 1Malaysia Malls inside their countries so that we can go and sell Malaysian products in their countries (and put their factories and manufacturers out of business - these are still emerging economies).

.

Dato boleh faham ke? Cuba fikir Dato, will we allow the Indians to come here and build 1India Shopping Malls in Malaysia so that they can sell 50% (at least) "Made in India" products only? Biar kilang kita semua tutup ke? And will we be so stupid to also provide financing for the Indians to build their 1India Malls here in our country? Kita ini bodoh sangat ke?

.

So by the same argument Dato, how can we expect the Indians and Iranians to "invest" their money in 1Malaysia Malls so that we can sell 50% "Made in Malaysia" products in their countries and put their manufacturers out of business? Depa pun bodoh ke?

.

The only way this insane idea will work is if Malaysian taxpayer's money is used first to buy the land in India, Iran or Vietnam. Then more Malaysian taxpayer's money is used to build the 1Malaysia Malls. Then more Malaysian taxpayer's money is used to finance all the shops that are going to be opened in these malls. I think the Malaysian taxpayer is being taken for another ride. Better still, the Indians, Iranians and Vietnamese will insist that they also be appointed the turnkey contractors to build these 1Malaysia Malls - and we finance it with taxpayer's money. (But there is another real story here isn't it?)

.

This scheme is actually a perfect "black hole“ obviously thought up by some scheming con-sultan - to make Malaysian taxpayer's money disappear. Here is the reason why : Where is Ho Chi Minh City? Where is Hyderabad? Where is Isfahan? Who is going to go and check what is happening in these places where our taxpayer's funds will be poured into great big holes in the ground? And if there is mismanagement (wanna bet?), cost over runs, corruption (wanna bet?) then NO ONE from Malaysia can investigate.

.

The MACC has no jurisdiction in Iran or Vietnam. If anything goes wrong (it most certainly will, wanna bet?) the Malaysian Police, the Income Tax Department - in fact NO ONE from Malaysia can investigate anything. So isn't this a perfect scheme to make our taxpayer's money disappear? The smart beggar who thought up this scheme is real slimy. They are still around.

.

Now, do we seriously expect to fill up whole shopping malls in Vietnam, Iran, India and China with 50% "Made in Malaysia" goods? Goods jenis apa Dato? Can you name three of them? Just three of them. Please give brand names ok? (keropok lekor not counted). Do you seriously expect our goods to outdo cheap "Made in China" goods that fill all the malls throughout the whole world?

.

Here is the truth ok : walk into any mall in Malaysia (especially the hypermarkets) and then answer this question : how many per cent of the goods sold in our Malaysian shopping malls and shopping complexes are "Made in Malaysia"? I know some hypermarkets where close to 100% of the manufactured goods are "Made In China". You cannot find 50% of the goods sold in our own shopping complexes that are "Made in Malaysia". No way. Its all "Made in China".

.

So how do you expect to fill up 1Malaysia shopping malls in China with 50% "Made in Malaysia" goods ? ? ?

.

"Made in Malaysia" handbags are going to outsell " Made In China" handbags in China ? Or even in Vietnam. Heloooo? Anyone home up there? Dato Ismail Sabri, why not try and sell " Made in Malaysia" ice cubes to the Eskimos? (Dato boleh faham ke apa maksudnya 'sell ice cubes to the Eskimos'?)

.

Now here is the real funny part. While Ismail Sabri - who knows nuts about business - is suggesting we build 1Malaysia Shopping Malls in Iran, India (those are crazy countries ok) here is another piece of news. This is good news:

.

Tycoon Li Kashing firm buying malls in Malaysia

PETALING JAYA: Singapore-based ARA Asset Management Ltd, which is linked to Hong Kong tycoon Li Kashing, is in different stages of negotiation to buy between five and 10 malls throughout Malaysia.

Asia Dragon Fund has a fund size of US$1bil (RM2.9 Billion) to buy Asian assets.

ARA currently has assets in Singapore, Hong Kong and China exceeding RM44bil in value.

1 Mount Kiara Mall (1MK), which was purchased by the Cheung Kong Group last year for about RM333mil. This will be ARA's third property, the other two being the AEON Mall in Malacca and Summit in Subang Jaya.

ARA has 25 malls throughout Asia “ 14 in Hong Kong, four each in China and Singapore and three in Malaysia."

.

Li Ka Shing is buying shopping malls in Malaysia instead. It appears that Li Ka Shing has more faith in Malaysia than Ismail Sabri. Li Ka Shing will also be creating more employment opportunities for Malaysian workers, including unemployed graduates, unemployed Mat Rempits etc. Here is my suggestion. Just lend some money to Li Ka Shing to enable him to buy even more shopping malls in Malaysia.We will move to a higher income economy much quicker.

.

Folks, note this down - the 1Malaysia Malls overseas are just another disaster in the making.

 

Posted by Syed Akbar Ali