(adsbygoogle = window.adsbygoogle || []).push({}); Rent-seeking system for BN cronies costs us, rakyat at least RM20 billion each year!
This is modus operandi, BN ministers got the contract allocation from rent-seeking system (meaning no open tender!), then pass down the projects to alibaba main contractors in returning for 5% kickback.
Main contractors then pass down razor thin margin projects to Chinese sub-contractors after they squeezed out another 30% profit margin.
In order to make 10-15% profit margin, sub-contractors have to use their initiatives like using substandard materials and methods, bribing the inspectors, etc. A huge pile of money actually go into ministers’ pockets and alibaba companies.
The end results are “taufu” and over-budget public projects as you seen in every place.
Terengganu Stadium Collapsed
