Categories

Login

Corruption & Cronyism >>>

NO to BN Reason 3 :: Privatization is morphed into piratization to steal and rob national wealth by UMNO, MCA, MIC and other cronies

(adsbygoogle = window.adsbygoogle || []).push({});

Which privatization project on government-linked companies benefits the rakyat? The answer is none.

A few selected BN piratization projects ONLY,

– IPP power generation. Malaysia lost billions for generating excess electricity.

Further reading: TNB has to pay IPP for excess power

– One-sided contract for highway concessionaires with Malaysians are always the losers.

– PKFZ scandal. BN cronies, MCA and UMNO politicians had siphoned out at least RM5 billions.

– Malaysia Airlines RM8 buy-back from UMNO cronies when MAS share price is RM3.50 and the company was losing money. 800 million taxpayers’ money wasted!

– Rent-seeking tenders for KL MRT and KTM double track electrification incurred losses of billions on Malaysian taxpayers. Multiple total project cost with 30% is unnecessary top-up expenses paid by we rakyats.

There are more piratization BN projects!