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Mindef spent RM7.55 billion to purchase 257 DEFTECH AV-8 8X8 through Deftech, a private company based in Pekan, Pahang.
The market price for the same vehicle under the model, FNSS PARS 8X8 is about 25% of Malaysia purchased price.
The losses to Malaysian taxpayers are 5.66 billion.
That is a good service from UMNO Malays for Singapore to win the war with Malaysia (Just in case it happens). They are true betrayers to Malaysia by weakening our defense system.
Number of BN White Elephant Project monitored : 8
300% inflated price for armored vehicles : RM 5.66 billion
Total accumulated cost or losses (for a single year): RM 27738 million OR RM 27.738 billion
RM8 billion gas subsidy to IPPs is wasted because our household electricity tariff is still higher than Thailand where no subsidy is provided.
About RM2-3 billion go into the bank account for IPPs and the balance 5-6 billion are burned as CO2 to maintain 40% excess capacity.
We Chinese only burn paper incense money for our ancestors, but BN government under UMNO goons burns our REAL money for enriching their cronies.
UMNO goons are very smart, they legalize their corruption by burning your money through rent-seeking practice.
If UMNO goons take RM3 billion as theirs, we Malaysians still can save 5 billion rather than wasted it as C02 (in the form of no utilized electricity generated by both IPPs and Tenaga).
This RM5 billion can subsidize every Malaysian with RM180 food coupon, but BN burns it down for nothing except more air pollution.
There is no government in the world goes to such extreme to burn money in order to bleach its corruption practices except the UMNO-led BN government.
Number of BN White Elephant Project monitored : 7
Gas subsidy for IPPs : RM 8 billion each year
Total accumulated cost or losses (for a single year): RM 22078 million OR RM 22.078 billion
Pakatan cries foul over sweetheart IPP deal for Syed Mokhtar
By Shannon Teoh
October 18, 2011
KUALA LUMPUR, Oct 18 — The federal opposition accused the government today of signing a blank cheque for Tan Sri Syed Mokhtar al-Bukhary with the award of an independent power producer (IPP) deal without first agreeing to tariff rates and the length of the concession.
The Energy, Green Technology and Water Ministry said in a written reply to a parliamentary question yesterday that the 1,000-megawatt plant in Tanjung Bin, Johor has been awarded to Tanjung Bin Power, a subsidiary of Malakoff Berhad.
Continue reading >> BN White Elephant #7 :: Another rape on Malaysia with another IPP contract to Syed Mokhtar
BN government paid RM94 million for unethical propaganda campaigns to promote Najib to the international community is backfired after the evil was exposed by the Sarawak Report.
Althantuya’s murder is worth more than RM 9 billion airtime, and we got it for free. BN should do more murder plots if bad publicity is so important to them.
Payment for FMC Media by BN government : RM 94 million
Number of BN White Elephant Project monitored : 6
Total accumulated cost or losses: RM 14078 million OR RM 14.078 billion
Putrajaya paid RM94m to FBC Media for global airtime
By Shannon Teoh
KUALA LUMPUR, Oct 11 — The Barisan Nasional (BN) government paid RM94 million to raise its international profile over three years to FBC Media, which is under probe by British regulators for producing content on Malaysia without revealing that Putrajaya was its client.
But the Prime Minister’s Office (PMO) denied any involvement in how FBC Media secured coverage in the international press.
In a written reply to a question in Parliament, Datuk Seri Najib Razak’s office said that the 12-month contract that was signed in 2007 was renewed twice for a total cost of €19.6 million.
“It is the responsibility of FBC Media to obtain airtime in international media and the government has no control over this matter.
“This is a matter of discussions between FBC Media and the BBC,” the PMO replied to Batu MP Chua Tian Chang’s question posed last Thursday.
Continue reading >> BN White Elephant Project # 6 :: RM94 million for International Propaganda Campaign by FMC Media
Dana Johor under JCorp was incurred heavy losses, and non-bumi investors have to bear for the brunt of mismanagement and corruption by Johor state government.
JCorp has about RM6.6bil in outstanding debt, I doubt JCorp can survive without the bailout from public fund.
I hope Johor Sultan intervenes on this non-political, but the financial heavy losses issue and asks for accountability from the Johor Menteri Besar, Abdul Ghani.
JCorp outstanding debt : RM 6600 million
Number of BN White Elephant Project monitored : 5
Total accumulated cost or losses: RM 13984 million.
JCorp to raise RM2.5bil
By RISEN JAYASEELAN
It plans to issue bonds to refinance debt due by the middle of next year
PETALING JAYA: Johor Corp (JCorp) plans to issue up to RM2.5bil in bonds in a move to refinance its debt that will be due by the middle of next year, reliable banking sources said.
“The bond issuance will refinance the bulk of debt that is coming due next year, meaning that JCorp may not need to carry out any big asset sale soon although there is still a small shortfall,” one banker said.
JCorp has about RM6.6bil in outstanding debt, out of which RM3.6bil is due to be repaid by July 2012.
Continue reading >> BN White Elephant Project #5 :: RM6.6 billion debt by JCorp
BN is abusing our rakyat money to install BN Penghulu and new village heads after they lost in five states to PR.
Penghulu and new village heads used to be appointed by state government, and with the Federal Village Security and Development Committee (JKKP) scheme under the Federal government after 308 political tsunami, two penghulu and two new village heads are found in the suburban and rural areas in Kedah, Penang, Kelantan and Selangor.
RM 156 million annual budget allocated for the duplicated penghulu and new village head is a total waste and abuse of public funds for BN component parties.
Public fund for duplicated village heads in PR states : RM 156 million
Number of BN White Elephant Project monitored : 4
Total accumulated cost or losses: RM 7384 million.
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