Monday, November 22, 2010

What Happened to the RM544 million State Government Bond

Sabah Progressive Party (SAPP) former Secretary-General, Datuk Richard Yong We Kong, questioned why there was no mention of the State Government Bond in the State Budget 2011.
State budget as presented to the State Assembly by the Minister of Finance Cum the Chief Minister of Sabah that the projected revenue of 2011 amount to RM 2,747.94 million. He explained that 2010 budgeted revenue was higher than the 2011 budget because of the proceeds from the issuance of bonds worth RM 544 million in 2010.
"The bond is a debt which has to be repaid in 5 years' time. In other words every Sabah citizen now has a debt of RM200 because of the bond," said Richard.

"We have been asking the Chief Minister who is also the minister of Finance to reveal the purpose of the bond. The answer given by Datuk Johnny Mositun, Information Chief of PBS was that the RM544 million fund had been channeled to projects investment. Was it used as a loan to finance a condominium project in Jalan Ampang of Kuala Lumpur?

28 comments:

  1. Sabah state budget is giving RM1 million to all its ADUns to buy voters. It is a sign that the coming general elections around the corner

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  2. We should wait and see how the CM will answer.

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  3. We can't simply make assumption. I don't think the minister of Finance would finance a condominium project in Jalan Ampang because Sabah itself has a lot of projects needed to be invested.

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  4. Best way is to wait for an explanation from CM.

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  5. give explanation about this matter.

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  6. it is part of state govt efforts to strengthen the state financial which intended to finance investment projects which expected to generate revenues to the state in the future and to pay existing debt.

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  7. better just wait for the explanation/answer...

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  8. From anonymous Nov 23 11:16am Quoted:"Sabah state budget is giving RM1 million to all its ADUns to buy voters. It is a sign that the coming general elections around the corner"
    Is this past Adun's experience?
    Most important is if you see any 'JPM-Jabatan Penerangan Malaysia' 'dedicated officers' moving around to have meet people section in your area :-)!
    They are told by federal 'boss' to work this out with people funds but they too 'pocket' it $$$ for themselves for good times.
    MACC should follow up this abuse by BN for tax-payer's money.

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  9. harap hal ini akan diperjelaskan.

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  10. The explanation has been given.

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  11. "Was it used as a loan to finance a condominium project in Jalan Ampang of Kuala Lumpur?"

    it just an opinion..no evidence..

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  12. well, deep explanation is needed..

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  13. Kerajaan perlulah membuat penjelasan tentang perkara ini.

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  14. CM has given a well explanation on that matter. What more?

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  15. Penjelasan telah dibuat lanjut pun.

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  16. The CM only mentioned 'promising projects' what are they was never mentioned...Could it be promising projects of Musa and his cronies...???

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  17. How about call 'em out and figure something in it?

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  18. Mungkin penjelasan lanjut harus diberikan. Yang pastinya, bon bernilai RM544 juta itu tidak terlibat langsung dengan pembelian kondo di KL.

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  19. The CM said he explained manytimes and will not explain any more. So far he personally only explained once. other times by his cronies. If he says state finance is so sound why still need to borrow money like issuing bond, Sabah is the 1st state to issue bond. Yet he proudly put the money into the State consolidated fund. This is not a revenue but borrowed money. This is the public money what is so difficult to just mention where it was invested unless got something to hide. Sabah people are not stupid.

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  20. When did the CM explained many time already??? He did not mentioned where the bond for what only to say invested in....Does not make any sense at all..something fishy...he never said it is not for condo project.

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  21. Why resort to sell bond when he claims 4 billions in the reserve fund. What logic is that you have so much money resort to loan and burden Sabahan to pay for the the debt.Is it not right for Musa to explain detail of the investments.At least that will explain on the rate of poverty in Sabah.

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  22. Keeping the loan money in the State Consildated Fund mean our UMNO leaders in Sabah are bunch of fools and layers.What he tries to proof is only show his ignorance and greed.He should realise he is not running a company with main objective only to MAKE MONEY with little consideration on SOCIAL WELFARES which is the main objective of any government of the day.This reflect to the fact this guy only to enrich himself at the expand of SABAHANS. Wake up Sabahan don't make yourselves be treated as fools.

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  23. All the BN supporters are the biggest FOOL to themselve. They are just a bunch of IDIOTs and are brainless.

    The explaination from Musang Bin Tidak Aman was utterly RUBBISH and TALK COCK. He only mentioned to invest in commercial project and will sure make money. What the Fucx is the project? No detail! Nothing!

    Pergilah engkau mampus Musang Bin Tidak Aman dan ketulahan sama kelurga Tidak Aman baru kamu tahu.

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  24. Musang tak Aman is so powerful now that the followers are pretending to be idiots. When the boss talk they all agreed, when the boss sing they join in the chorus, when the boss buck, all of them also buck. wow.

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  25. I agree with musang bin tidak aman to be ketulahaned. Sorry, a new word of the day. His face looks like a stupid man in the newspaper. So bodoh to be rosmah's husband. Perhaps he even hand her a tissue paper to wipe her shit still hanging from the bowel.

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  26. do you guys really know what ur talking about ur guys just shooting a blank bullet?

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  27. Harap ada penjelasan lanjut mengenai isu ini.

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