Tuesday, October 21, 2008

Golden Parachute for Valuecap Sdn Bhd?

Malaysia Insider wrote,
EPF to lend the RM5b to fund Valuecap

I'm not expert about the big corporate company in Malaysia but after watching so many news about the 700 billion dollar bail out and their hope that the money not ended to the management own pocket, I had a bad feeling about where most of money going to ended up.

Malaysia was not a new player in bailing out on big lost company. This was happened way back to the 90's when Malaysia Corporation Policy turn bad during the asia economic crisis. All hell went berserk and money from people pension fund flow out like a burst dam. I believe half of the money went to the management's own pocket known in the state as a golden parachute.

Najib really gave a new meaning of money value by just approved a 5 billion bail out to one company. How much more he willing to give to company the money that he didn't own?

2 comments:

lynnx01 said...

*shakes head and sigh...

Jefferi said...

agreed.. :(

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