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.

Corruption the No. 1 factor fo RM362 billion debt

Bad governance and widespread corruption in the country are the cause of the massive RM362 billion debt the country has accumulated over the years.

Malaysia's Hall of Fame

Year 2009 has been a memorable year of sorts...Najib's 1Malaysia - of racism...BTN...Year 2010 racist idiot like Ibrahim Ali, religious fanaticism - Zulkifli, corruption - PKFZ, (No) murdered Altantuya, (No) dead Teoh Beng Hock, (No) sugar, (No) lost fighter jet engine, (No)missing & hiding Bala, (No) No budget for general hospital for KK, now...resurgence of the racist -Ahmad Ismail

Jobless and homeless Sabahans in KL is saddening

"The plight of young Sabahans in the Peninsula Malaysia under the noses of present Sabah Barisan Nasional (BN) leaders in Kuala Lumpur is a sad phenomenon.

As such, the government must quickly address it, said Sabah Progressive Party (SAPP) Presiden Datuk Yong Teck Lee.

"The outflow of many Sabahans to the Peninsula Malaysia looking for jobs is proof that our State economy has failed them, although labour migration is unavoidable the fact that many of these young Sabahans have become destitute or getting into crime and vices are glaring signs that they left Sabah ill-equipped and unprepared for the risks of being a migrant worker," he said.

1Malaysia concept, the butt of jokes

"The 1 Malaysia concept has failed to catch the people's imagination and instead became the butt of jokes among the people. Past excesses of the BN administration is catching up with the current government such as the collapse of the Terengganu stadium and other building failures, the Port Klang Free Zone scandal, the Perak fiasco and falling education standards.

Scrap or XChange?

Are Auto-scrapping and Xchange similar schemes?...Government trying to inject money into the ailing car maker? Why Xchange programme which started in 2007 only in West Malaysia......Why Sabah and Sarawak were NOT included in this programme?

EPF to fund RM5 billion ValueCap investment to shore up Bursa Malaysia

Directing EPF to fund RM5 billion ValueCap investment to shore up Bursa Malaysia is an abuse of Government's authority and puts to risk hard-earned savings of millions of its contributors.

The Finance Minister, Datuk Seri Najib Tun Razak announced yesterday that the Government will inject RM5 billion into ValueCap Sdn Bhd to invest in “undervalued companies”, presumed to be those listed on Bursa Malaysia. This was part of the initial slew of high-level measures announced by the Finance Minister, who at the same time confirmed that there will be no cut in the budgeted expenditure for 2009, currently debated in Parliament.