Friday, August 10, 2007

Lulu Did Wish That The Eye On Malaysia Was A Success

Sometimes, you may think Lulu is a meanie, always poking fun at what the government does and being such a pessimist with their projects.

truth is, Lulu does hope and wish that the projects would be a success.
Because if it does work, if the angan-angan becomes a reality, then it reaps benefit for the nation and the rakyat.
And even if the gains are not passed on to the rakyat, at least, they will not depend on a government bailout for, kononnya the projects, but Lulu guesses is for the private companies who are guaranteed gold regardless whether the project is a hit or miss.

I did poke fun on the Eye On Malaysia.

In Lulu's very finite petite mind, it had all the elements of a potential flop.
But Lulu was hopeful that she was wrong.
Alas, Malaysiakini's latest piece of investigative report is inclined to confirming what Lulu thought and feared would probably happen.

However eight months since its official launch, and with only four more months to go to the end of the Visit Malaysia Year campaign, the long queues expected by the ministry are simply missing. Apart from the initial euphoria and excitement, the visitors have avoided the Eye on Malaysia, causing potential embarrassment and financial worries for the ministry and the private company.
A bailout at work?
Now new facts have emerged that the Tourism Ministry and MST Ad Suria are trying to revitalize the Eye on Malaysia. The plan is simple - the ministry buys thousands of tickets from the private company to be distributed for free. In other words, the ministry is bailing out MST Ad Suria.
Sources have told malaysiakini that tickets worth RM5.7 million have been snapped up by the ministry from the private company. "500,000 tickets are there sitting in the ministry. The amount sums up to RM5.7 million of taxpayers' money. The ministry is giving them (MST Ad Suria) easy money" sources said.

to be fair to the owners, Lulu needs to tell you that
When contacted, MST Ad Suria executive chairman Adam Yong Abdullah and his colleague Jamilah Itam, the business director with the company, claimed that business was good. Adam however admitted that there were talks with the ministry for the sale of tickets worth RM5.7 million from his company, but "nothing ever came out of it".
When Adam was asked to explain this, he replied “I don’t know about this. Maybe they printed it out on their own. But if they did, the tickets will not be valid. The bar codes on the tickets must first be verified by our system before it is ready.”

Maybe the little bit in me hopes that the Malaysiakini report is wrong.
Maybe there's no such bulk ticket purchase.
That maybe, if it was making a loss, the company is proffesional enough to know that they did not do their homework properly, and in business, sometimes you make money, sometimes you lose money, but you need to be man enough to be responsible for your own decisions.
oh dear, i was almost doing well until the last maybe.
having actually typed that out, why is Lulu feeling like this is a cow jumped over the moon moment?

Lulu's also gravely concerned about the Southern Johor Economic Region (SJER) and Northern Corridor Economic Region (NCER).
Lulu really would like to remain optimistic, but the announcements and publicity to the projects given pending GE makes Lulu wonder if it's a ploy.
And with Datuk Merican's projection that by Y2010, we would be a nett importer of petroleum, how are we going to bail out these projects [or more likely, the businessmen] if they fail?
Lulu doesnt want her country to end up as another Argentina or Nigeria. Nations so rich in resources yet bankrupt.



skilgannon1066 said...

Well, a private company is building something very similar in Singapore. It is called the "Eye on Singapore" and is being promoted by the Singapore Tourism Board as a tourist attraction.

If Singapore can make it work, why not Malaysia?

Or is that a question not worthy of your towering intellect?

Anonymous said...

Want a location for shooting bad- guy-bring-girl-to-deserted-warehouse-and-wait-for-good-guy-to-come-and-rescue scene?

Then PKFZ is your top choice!

Hundreds of warehouses to choose from!

Anonymous said...

Once upon a time, there was a female pig who wanted to give birth to babies because she loved piglets and wanting to call them her own. For years, nothing happened. There was no babies. She heard from her farm friends that maybe if she moved away to another farm, her chances would be better. So she moved from place to place, a dozen places over a year and still, no news of pregnancy. Finally she had a health check and the farm doctor confirmed she was infertile. So arose the Chinese wise saying that even a female pig moving or shifting house would not make her give birth to babies. Why some people by touching projects can turn it into gold while some others, always turn into "dusts" instead. The answers may lie somewhere. The projects may always fail but yet, enriched some people. In business, companies can go bankrupt but perhaps not the owners. You see, the eye is a complicated affair. What we see may not be the truth. We may have eyes but yet not see. Yes, it looks like a black eye.

Shawn Tan said...

"more than meets the eye" - transformers.

kehoe said...

"eye" look but they don't see.

ghostline said...

Something smells fishy... and it's not belacan. Wonder how many more family/buddy relationships we'll find in these companies' boards of directors and major shareholders?


skilgannon1066, I am a Malaysian who has lived and worked in SG for many years. No offence, but your question "If Singapore can make it work, why not Malaysia?" would only be a valid question if:

(a) you replaced 'Malaysia' with 'UAE'/'China'/'HK' or some place with a better business environment;
(b) you are not a Malaysian citizen;
(c) you *are* a citizen, but are strangely naive/innocent;
(d) you're an UMNO cyberzombie.

For your sake, I sincerely hope you're (b). If you're (d), go stick your wet finger in the power socket NOW. It's good for you. Make AMNAAH cyberzombie grow up strong and healthy.


Assuming you're (b) or (c) and have survived the above test, no hard feelings, that was our latest spam filter in action:

SG is not perfect either, but good business practices generally apply, and there is relatively little government intervention outside of the government-linked corporations (GLC's). SG Tourism Board (STB) has had its share of flops and failures over the years, but they learn.

Frankly, I'm somewhat skeptical of the Singapore Eye as a business proposition myself. The difference is that public money won't be saving private arses if this one goes under.

koolgeek said...

A good indication of how those mega billions new corridor projects will wind up.

bbmars said...

SG's Eye of SG is not ready yet, it will possibly be open during Valentine's day 08 and preparations are udner way. Whether it will work, remain to be seen, just like any other such projects, it may fail, whatever the reason. Nothing new, but defnitely, the SG Gov will never bill out this kind of things, if there is, probably funds coming from some association, may be tourist promotion board, but even then its not going to be in hte form of giving money, but likely to be some form of promotion and discount to increase the patronisation... Till all else fail, then close shop.

Just like the case of Disneyland which was originally to be built in SG instead of HK. The Gov simply refused to fund the construction citing that it should always be a commencial entity, not Gov responsibility and being tied down by it for years to come. Things to note, except for the Disney in US, which DisneyLand around the world is making $$$? Paris, need the French Gov to bill out. Japan? Almost died if not for the Disney Sea which had given it a life line..