Koon Yew Yin's Blog

How to Prevent Corruption Even in an Open Competitive Tender? Koon Yew Yin

Koon Yew Yin
Publish date: Tue, 23 Oct 2018, 10:17 AM
Koon Yew Yin
0 1,434
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.

All materials published here are prepared by Mr. Koon Yew Yin

23 Oct 2018

After careful thinking, I regretted that I have posted my article to criticise the Pakatan Harapan Government for terminating the MRT contracts undertaken by MMC Gamuda Joint venture. The value of the 2 contracts are Rm 8.2 Billion and Rm 15.47 Billion.  

A few months before I posted the above article, I wrote and posted my article namely “Follow the World Bank’s Guidelines in calling open tender to prevent corruption”. If the previous BN Government wanted to accept bribes, the World Bank’s guidelines could not prevent corruptions.

When any contract is worth several Billion Ringgit, the contractor can spare several hundreds of Rm millions to bribe the officials who have to power to award the contract.

Here are 7 ways to prevent corruptions:

1 The Pakatan Harapan Prime Minister Tun Dr Mahathir must appoint honest Ministers who must appoint honest people on the tender board to valuate tenders and the Minister in charge must always supervise the tender process to prevent corruptions.  

2 Split the whole project into smaller contracts, so that more contractors can qualify to tender. If only a few contractors are invited to tender, it is easier for the few contractors to collude or come to a secret understanding.

3 The Minister must not allow the official in charge to invite a few of his Kaki or friends to tender. Always publish in the newspapers to invite contractors to prequalify to submit tender.  

4 If all the contractors are prequalified to tender, only the cheapest tender should be given the contract.

5 All tenders must be open and publish the prices of each contractor to show that the cheapest contractor is awarded the contract.

6 Never allow the official to invite contractors to submit their proposals for any project because each contractor would have his own proposal. The tender committee cannot compare the price of an apple with a pineapple.   

7 Always appoint a engineering consultant who has the necessary knowledge and experience in this type of project to put up the design and specifications for all the prequalified contractors to tender. If all the contractors are prequalified, the cheapest contract should be given the contract.    

Remember honesty is the best policy.   

 

 

More articles on Koon Yew Yin's Blog
Why do people riot? - Koon Yew Yin

Created by Koon Yew Yin | Aug 19, 2024

On 14th Aug 2024, I posted my article “Why people are rioting across UK”. Now I want to tell you why do people riot?

How much do our MPs and assemblymen earn? - Koon Yew Yin

Created by Koon Yew Yin | Aug 19, 2024

If I knew politicians are so well paid, I should have been a politician. A few days ago, one old friend who migrated to Australia about 40 years ago, visited me. He told me that he was a Member of P..

Why are people rioting across UK? - Koon Yew Yin

Created by Koon Yew Yin | Aug 14, 2024

Riots have spread across numerous cities and towns in England, and in Belfast in Northern Ireland, over the last week in the worst outbreak of civil disorder in Britain for 13 years. Police have ma...

Can Harris beat Trump? - Koon Yew Yin

Created by Koon Yew Yin | Jul 30, 2024

The new poll, conducted between July 22-24 and released Sunday, found that Harris’s approval rating had surpassed Trump’s in Wisconsin, Pennsylvania, Minnesota, and Michigan. In Michigan, Harris was..

A few people are using my name to cheat people - Koon Yew Yin

Created by Koon Yew Yin | Jul 30, 2024

As you can see below, a few people are using my name to promote sale of Initial Public Offer (IPO) shares before and after listing on Bursa Malaysia. You should not buy IPO shares because statistics..

KSL passed TA and FA - Koon Yew Yin

Created by Koon Yew Yin | Jul 23, 2024

The most important criteria for share selection are technical analysis and financial analysis. The price chart below shows that KSL's share price has been going up from 88 sen to above RM 2.13...

KSL is cheapest property stock - Koon Yew Yin

Created by Koon Yew Yin | Jul 22, 2024

Recently one smart accountant pointed out to me that KP Property has millions of Redeemable Convertible Preference Shares (RCPS). This will affect its share price. I sold all my KPP shares to buy KSL.

Why Malaysians must learn Mandarin? - Koon Yew Yin

Created by Koon Yew Yin | Jul 15, 2024

Currently Bahasa Melayu is taught in all Government sponsored schools. Bahasa Melayu is only good within Malaysia. All our overseas customers do not know Bahasa Melayu. I hope all our politicians...

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment