New Government

There is a new Government and their priority is the economy. If they want to do and sound better than the previous government, all the elected MPs (including the opposition MPs) should undergo a foundation course in finance. Otherwise, they will lose credibility.

Remember the ex-minister who propounded that an increase in taxes on goods and services will result in lower prices? Just read in the news that the MP for Subang recommended to the Government to undertake an MBO of toll concessionaires. 1st, does he know what MBO is? It stands for Management Buy-Out, meaning the company’s Management buys over the company. Perhaps he meant “Nationalisation”? Secondly, the biggest toll concessionaire is the UEM Group, a wholly-owned subsidiary of Khazanah which in turn is owned by the Government of Malaysia.

PLUS, the most important highway is owned 49% by EPF and 51% by UEM. If both make money and there are no leakages, the profit goes back to Malaysians. That’s fine. The issue is the other tolls and new highways where the construction costs may be highly inflated. In order to reduce the incidence of reading things which make one go huh? Symphony would like to offer all politicians a finance course at discounted rates.