Koon Yew Yin's Blog
Who’s the real culprit for the delay in the LRT project? Koon Yew Yin
Koon Yew Yin
Publish date: Tue, 13 Oct 2015, 04:24 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
I refer to the front page article “Who’s to blame for the delay in LRT job?” on one of the leading newspapers on Sunday, 11th Oct 2015. In that article, all the figures were pointing at George Kent who specializes in the manufacturing of water meters was awarded the billion Ringgit LRT contract. George Kent has absolutely no experience in LRT construction.
How can you not blame George Kent for the delay?
The biggest culprit is the man who has the power to award the contract without open tender. Without open tender the contractor can easily mark up the price and share the additional money with whoever has the power to award the contract.
This sort of corruption is so common in Malaysia; for example the North-South Highway which was awarded to a Bumiputra contractor who had absolutely no experience in highway construction. Moreover, the multi billion Ringgit contract was awarded without open tender and the contractor was allowed to collect toll to recover the construction cost with some profit.
As we know, we have been paying toll for a few decades. I am sure the amount of toll collected over the years is more than enough to reimburse the contractor. But no one knows when the toll collection will stop.
As a result of the rampant corruptions, Malaysia is still not a fully developed country. In 1970 when the new economic policy was introduced our GDP per capita was the same as Singapore, Taiwan and South Korea. After 45 years we are still not a developed nation while Singapore, Taiwan and South Korea have become developed nations in spite of the fact that they all do not have the natural resources, such as petroleum, palm oil, tin and rubber. They do not even have timber to build their houses. Taiwan has highways all over the country and they do not need to collect toll because they are not so corrupted like Malaysia.
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Discussions
10 people like this. Showing 36 of 36 comments
@Mr Koon, I can say that I agree with your view in this article where you highlighted your concerns on corruption.
Even if I don't agreed with your points in your previous article, but my novice investor side do not see much fallacy in this particular article.
Note: I'm just being objective. Thanks for the write-ups.
2015-10-13 16:55
Uncle, don't simply write and blame bumi this, corruption that. Last time you write about MRCB almost get your sue for defamation
2015-10-13 17:08
THIS TIME I AGREE KYY! SUPPORT HIM ON THIS!
HE IS EXPERT IN THIS FIELD, HE SPEAK HONESTLY HERE
2015-10-13 17:08
Why blame GKENT without knowing the root cause of delay? Anyone know the root cause?
2015-10-13 18:06
Construction is not an easy matter, it involves so many stages and parties. Any problem occur in any one of the stages can cause project delayed. We should at least identify the root cause or problem without first pointing to GKENT.
2015-10-13 18:10
Aiyah, dont believe uncle. Suka-suka write one. Last time he wrote about MRCB "The great bukit jalil rip-off". He kena. http://klse.i3investor.com/servlets/anpth/1084909.jsp
2015-10-13 18:55
老Koon喜欢胡说八道,他讲台湾高速公路是FOC?
其实台湾的高速公路是要收费,每个站都是相同费用也就是NT$50,只有如华人农历新年及公共假期高车流量时,才会暂时取消收费。
老Koon的高度曝光的背后动机及目的,让我对他的人格有所保留。
2015-10-13 20:12
He speaks from his heart loh! Gkent ampang lrt kill how many ppl Liao? Go read the news!
A professional company like wct, gamuda seldom have such thing! It only shown how inexperienced and how unprofessional gkent is!
2015-10-13 21:40
And yet they get rewarded the multi billions lrt3? I tell u, Tony pua has many news to disclose on this soon!
2015-10-13 21:41
Why not give to Suncon? We have solid financial background and necessary expertise.
2015-10-13 22:02
As we know, we have been paying toll for a few decades. I am sure the amount of toll collected over the years is more than enough to reimburse the contractor. But no one knows when the toll collection will stop.
STOP? LOL this kambing Oct 15 the thieves are to going to INCREASE the rates otherwise how to buy chinchin n birkins? we talk about the real ones o.k not the petaling street wan :( also nowdays hairdressing for bee nest look has increased due to the fallin linggit - no longer the bargain price of 1200 o.k
so now u tell me how to STOP LOL
u know this one my distant relative in US said that Toll roads that was given out to Open tenders there actually have expiry date wan n once the concession finished they scrapped the TOL collection n motorist juz used it for free but in Bolihland not only they increase the length of the duration to almost never ending they also give out 'bonus' in the form of Toll increases LOL n that is wat u call Janji dichapati Barang Naik Slogan LOL
2015-10-14 04:14
Mr KYY. Blame it also on your Engineer Institution and Board of Engineers.
What are their responsibility?
Many Projects run by Project Managers who are not even Engineers!
Many Consultant do not even send their Engineers to courses to get their CPD. They blame it on the high fee charged by those "talking" in the Seminar!
As a Senior, where is your part in this?
Talking of expertise/experience,who need it in Malaysia? Dr M's crony without much education, could build tall buildings, airports and dams! Cannot finish? Just top up with a few hundred millions more everything will fall in line.
Who suffer? We are the ones.
Complain? Red shirt will come out and sing a different tune unaware of the force that drives the complain about.
LOL
2015-10-14 06:03
Tol Tun punya loh. Every 3 years increase tol masuk Tun pocket one. Najib get blame. We ask Najib resign. Then another PM ganti. Same thing loh. Every 3 years tol increase one. Want no tol ask Tun resign one.
2015-10-14 12:56
@King36, it is ridiculous & not make sense to blame any professional bodies as they have nothing to do with all these rubbish.
I am profession in Accountancy & are you going to blame me for government introducing GST? This is nonsense.
2015-10-14 13:00
Tun smart one. He build road, sell car, airport, twin tower, electric supply all give him endless cash cow sampai 7 generations. We all complain sana sini still sampai 7 generation pay one.
2015-10-14 13:03
常常自夸是大马的巴菲特,但是过去全部持股都没超过2年以上,除了那些套牢的大马上市的中国股票。
我的重点是这个身家亿万的老家伙,很喜欢沽名钓誉,而且动机不简单。
2015-10-14 15:12
No toll in Thailand for the many highways. Will it ever happen in Malaysia?
2015-10-14 16:05
Cpng you warren buffet? Uncle earn money donate to help people , cpng you can? Wish you lose all your money to uncle donate . Kikikiki
2015-10-15 01:43
@SuperMan 99. Mr Koon talked about delay, I mentioned about how projects had been run by a Tom, Dick or Harry.
Professional bodies talk of control in work produce, can they not recommend to the Government not to allow work to start off unless a team of professional names have been submitted and approved by the controlling authority?
I don't know about accountancy but I will be quite surprised to know if you allow someone who doesn't know accountancy to submit your annual income statement.
2015-10-15 10:24
speakup no experience building MRT, can BN kasi MRT project to speakup? :-) please BN?
2015-10-15 11:14
No need experience to get contract,just sub to the experienced conractors will do but u must have kuansi expertice to do well in msia boleh tanah cinta ku
2015-10-15 14:59
Koon, go buy KESM, it is better than VS. Switch all your vs to kesm!
Also buy RGB, genting, lfecorp.
2015-10-15 18:55
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To rub salt into wound, more contracts are given. No punishment for delays, instead gkent was rewarded! I also want to play golf with the billion dollar man.
2015-10-13 16:51