By KINIBIZ
In the aftermath of Budget 2016 speech by the prime minister last week, it has become apparent that much of the burden remains on the rakyat. While the goods and services tax (GST) saved the day amidst sharply plunging oil income, there was no sign of the often-asked-for spending cuts on the government’s own part.
We look at that question in a commentary below. On the issues front this week, we delved into not one but two: first, the contentious business of project delivery partners, who ultimately may be overpaid by hundreds of millions for undertaking tasks that can be done for much less. Is it a RM7 billion gravy train so far?
That aside, we also break down the ongoing power assets sale by 1Malaysia Development Bhd (1MDB) just three years after its controversial spending spree to acquire them. Three bidders, two of them foreigners, have put in their final bids – who will prevail and will we see majority foreign ownership of our local power plants for the first time in history as a result?
All these and more are compiled in a selection of our best news, analyses and comments for your weekend reading pleasure:
The contentious business of project delivery partners. Malaysia is relying on the project delivery partner (PDP) model for billion-ringgit transportation projects such as the LRT, MRT and the Penang Transport Master Plan. But questions abound on selection, transparency and the enormous price tags involved. Read here.
Questions loom over 1MDB power assets sale. A brief three or so years after going on a controversial power plant acquisition spree, 1MDB is now looking to sell its power assets off. But this is likely at a loss of billions and, leaves many issues unresolved. Will the sale ultimately be counter-productive? Read further here.
Foreigners may team up in 1MDB power assets bid. Two foreign entities separately bidding for 1MDB’s power assets may join together in a consortium for the proposed acquisition, sources separately told KINIBIZ. Will they edge out Tenaga Nasional for the power assets? Read here.
10 police reports Arul Kanda should make. Although the 1MDB president gave a polished performance and spoke well at a Bernama TV interview aired Wednesday, he did not address the crucial issues. If he did he would have to make a lot more police reports than the one he made over leaked confidential information. Read here.
Budget burden on the people. GST collection saved the day for the government, more than making up for plunging oil income. Unfortunately, this also meant that there were no attempts to reign in government expenditure, as many had hoped for – it is all on the Rakyat. Read here.
Lack of accountability may undermine PR1MA buyers. While the intentions behind the 1Malaysia People’s Housing Programme (PR1MA) are noble, lack of legislative controls and questions on why it is not under the housing ministry’s purview remain. Will these issues undermine PR1MA buyers in the end? Read here.
So many cooks, and still no broth. There is the saying that too many cooks spoil the broth, but what happens if there are many cooks, but still no broth? There are definitely times when the Malaysian administration is like a kitchen, especially the way things get hectic when a crisis hits. Read here.
Clearing the smoke over potential vaping ban. Noise that the health ministry wanted to find ways to ban vaping caused a brief uproar before the government backtracked and said it will not be banned. But even then the intention didn’t quite make much sense amid much smoke over the reasoning. Read here.
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Because whether you prefer online or print, morning coffee tastes so much better when you have the sharpest reads in town to sip to – for a sweet deal at that.
— By Khairie Hisyam Aliman, News Editor
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