Savior, or the ultimate Monopoly in the making? It's been nearly a year since Asas Serba, which has rightly or wrongly been linked to Halim Saad and Daim
How to pre-empt your boss on Oct 6 last year. It is rather curious that out of the blue this private entity's name is being bandied about again, in both the papers and the blogs. It started with Asas Serba telling a press conference in KL that No Single individual will control highways on May 3.Some toll-paying bloggers are dead against Asas Serba.
On May 16, Syed Akbar Ali did a posting on Another Highway Monopoly:They say they will bring down toll rates by 20% and maintain that rate level for the remaining concession period (up to 2038 – 28 years from now). We are talking about our grandchildren paying for our actions.
Folks if Asas Serba can cut toll by 20% and keep it fixed for the next 28 years, why cant the Government do the same? That is the question.
Via Khazanah Nasional Bhd, the Government has a 63.87% stake in PLUS. This stake is said to be worth RM10.5bil at current prices. Another 22% is held by the Employees Provident Fund and PNB/Amanah Saham. So the Government controls 84% of PLUS.
There are many ways to do this. I think what is confusing everything is cronyism and party politics rather than good economic sense or even common sense about how the public is going to vote at the next General Elections. (Silap-silap kena tendang nanti).
And just a little while ago, economics-finance blogger ABITW posted Asas Serba: DON'T play it again, Sam in which he argues why the Cabinet must REJECT the proposal at its weekly meeting tomorrow.
The proposal is going to be studied by the Cabinet tomorrow?