Monday, September 19, 2011

1MDB What is your real scope of operation?


PUTRAJAYA, Sept 19 – The government today offered Haj trips sponsored by 1Malaysia Development Berhad to 111 imams and chairmen of village development and security committees in appreciation of their role and contribution to society. Prime Minister Datuk Seri Najib Tun Razak handed over the offer letters at his official residence, Seri Perdana, here. Also present at the event were Melaka Chief Minister Datuk Seri Mohd Ali Rustam and Agriculture and Agro-based Industry Minister Datuk Seri Noh Omar. “It has been in my mind, since taking over as the prime minister, to do the best within the government’s means for the welfare of imams and village chiefs,” he said.
The 1MDB programme will benefit 57 imams and 54 chairmen of village development and security committees. Najib said the selected people had never performed the Haj, and added that the date for their trip to theHoly Landthis year would be make known soon. The prime minister said the 1MDB programme would be an annual affair where imams, village chiefs and other eligible people would be considered for the Haj trip. He also said that the government had helped these groups previously by raising their monthly allowances, from RM450 to RM750 for imams and from RM450 to RM800 for the chairmen of the village development and security committees.Source here
I find that piece a news rather alarming.

Why of all the institutions or agencies 1MDB is used as a Vehicle to undertake something that is beyond their scope of operations.

The Government of Malaysia wholly owns 1MDB as a strategic enabler for new ideas and new sources of growth to propel economic transformation. 1MDB seeks to identify and unlock strategic value to fully unleash new growth potentials. 1MDB has a unique concept in driving economic growth. It creates high-impact business opportunities to forge international partnerships through equal-capital joint ventures in game-changing projects. It leverages on the partners’ expertise to build capacity and translate their capital into foreign direct investment. The company focuses on investments with strategic value and high multiplier effects on the economy, particularly in energy, real estate, tourism and agribusiness. Every investment undergoes a rigorous process of best global practices, supported by local and international experts as well as state-of-the-art infrastructure. Source here
Why can't such program be embedded as an Employment Benefit on a Co-Sponsored Basis with the various Jabatan Ugama Islam and the respective body in-charged of monitoring Kampungs....

If you work with us for X number of years then a special Haji Bonus kinda thing....

I'll give you one example on how we do it here....

Quite a number of companies in Indonesia, provides sponsorship to their staffs for Hajj and Umrah, one company that I know of have a lucky number special bonus for 3 people to go for hajj after they've been with the company for more than 3 years.

If you wanna use Government Funds might as well the Government via Tabung Haji sponsor X% of the Hajj Cost for ALL MUSLIM MALAYSIANS

Start them small like an Endowment Policy on each New Born Muslim Child to ensure that all Malaysian Muslim have the ability to complete one of the fundamental rukuns....

To be honest there are so many ways to do this....

The Government via MAS and Air Asia can cover the whole airfare with a net off from incoming dividends to the Government of Malaysia....

EPF together with Tabung Haji can work out another Mandatory Account for Hajj (with 100% contribution from the Employee, Companies may opt to participate)

macam macam la bole buat kalu serious.....

This is not a new discussion 

Mahfuz Omar asked the MOF in 2002

Read more here 

To me 1MDB is becoming a serious tool to gain political capital.....

Not healthy.....



Minds are like parachutes; they work best when open. -Lord Thomas Dewer