In case you missed this piece of classic jokes, here’s the headline whereby the bumiputra motor traders asked for APs (approve permits) system to be extended until 2020 and guess what, the International Trade and Industry Minister said “Aye”. Under the National Automotive Policy (NAP), the AP system is to be phased out by Dec 31, 2010 but I supposed those “AP Kings” knew they could just ask for extension without much hassle few years back. Now, this is not about the bumiputra making money but it’s about a handful of ruling government’s cronies making hundreds of millions or even billions of ringgit in profit while millions of other bumiputra were left to fend for themselves.
Interestingly you have this minister, Muhyiddin, who justified the extension of APs with lame excuses that a five-year plan is needed to help them (the AP Kings) improve their operations, increase their working capital and ensure sustainability of their operations. Huh? You meant the late Nasimuddin’s empire that made billions of dollars of easy and pure profit from pieces of paper named APs for decades still need another 10 years to improve operations? How difficult it is to sell a piece of AP for tens of thousands of dollars in profit? What operations was Muhyiddin talking about? And just how much is enough for these AP Kings’ working capital? This is the easiest business in the world so stop crapping about the need for sustainability.
In reality these spineless parasites together with their political sugar-daddy are too complacent with the money making machine that it’s simply too difficult for them to lift a finger, let alone asking them to let go of the APs and start making a living the conventional way. Most importantly they’ve become too greedy that even if they’re a billionaire already they still want more. And if you think the year 2020 will be their final year of honeymoon, think again. Looking at the economic cycles chances are high that come 2018 there will be another round of recession and these good-for-nothing AP Kings will use the same old reason to justify another extension.
If they can’t rise to the occasion and need another 10-year to improve their pathetic operations, increase their working capital by additional billions and ensure non-existence sustainability after so many years, chances are definitely high that they will remain the same in the year 2020. Instead of insulting our intelligence as if we’re 3-year-old kid the minister might as well announced that the AP system will stay for good – hide and disguise under the name of bumiputra’s prosperity. But I suppose after the nation has seen the demise of the AP Queen (Rafidah) now you are presented with the new AP King of the King (Muhyiddin).
It’s true that it’s impossible to teach an old dog new trick. So these old dogs could do nothing but to ask for thousands of APs, sell it for handsome profits and repeat the same process again and again. Once a beggar forever a beggar and that’s precisely what define the current obsolete and flaw policies adopted by the ruling government – the assembly lines produce very low quality entrepreneurs.
Other Articles That May Interest You …
- Why Recession is important and we still need it?
- King of AP Kings Nasimuddin dies, Proton to beg VW?
- Will Malaysians wake up to face the Economic Challenge?
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January 13th, 2009 by financetwitter
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Comments
only one way to eliminate these scourges and parasites feeding on rakyats money
let them be opposition parliamentarians instead
i’m afraid you’re right anonymous … surprisingly nobody speaks about this AP extension issue … probably too busy with the by-election and the palestine issue …
I am afraid that the moment you raise the issue in parliament, it will be made out to be a racial issue. Despite the thousands living in misery, the government panders the already rich billionaires.
Did the cabinet approve the ministers decision or was it made on an ad hoc basis? It is a crying shame.
Lookslike none of them hv heard of PEAK OIL & the collapse of automotive industry – all those AP's will be worthless as of 2009!
PEAK OIL
Life After the Oil Crash
http://www.lifeaftertheoilcrash.net/
Oh, that’s simple. They need:
10 yrs to get profit.
10 yrs to improve operations
10 yrs to confirm improved results
10 yrs to plan the transition
10 yrs to carry our the transition
10 yrs to observe the after result
if above is not satisfactory, repeat the last 3 steps again and again…
Everyone knows that once people get addicted to a drug they will find it very difficult and even impossible to give it up.
You wrote: “… chances are high that come 2018 there will be another round of recession and these good-for-nothing AP Kings will use the same old reason to justify another extension.”
Actually, they don’t even need a recession for that. Any excuse – no matter how flimsy, no matter how ridiculous – will do.
This AP thing, like the Never Ending Policy (NEP), will continue into perpetuity. These people will never ever give them up.