The country is passing through very trying times. The credibility of almost every single institution is under attack – judiciary, media, corporate sector, executive, politicians – the people have lost faith in almost every institution. I get phone calls from so many people every day asking what will happen to the country, where will it go? in the last few months. However, now is the time to seek systemic changes. Unfortunately, the media is not talking about these changes.Some friends in the media tell me that there is a corruption- fatigue in the media. People might be tired of reading muck being exposed every day. However, they are looking for solutions. It is time that the media started talking about these changes.
Much has been said about Ratan Tata's story of a fellow industrialist calling him stupid for not paying a Rs 15 crore bribe to a minister for approval of a project. I don’t know whether this bribe story is true or not, but it is true that honest people in our contemporary society are called stupid. Today, "success" is important, not "means". Performance is judged on "profits", not "probity". Hence, many journalists do not find anything wrong in being used by a high-profile public relations consultant, Nira Radia (read vested interests), so long as they get the “news”. The Radia tapes also reveal that industrialists projected as sacrosanct are not 100% stupid.
Perak pincess Raja Eleena is a major shareholder
KUALA LUMPUR — A joint venture between builders Gamuda and MMC has received preliminary government approval to manage a RM36 billion rail project, sources with direct knowledge of the deal said on Friday.
The companies got approval to oversee the building of a 156-kilometre mass rapid transit project in the capital, Kuala Lumpur, and the surrounding areas after a weekly government cabinet meeting, said one source who declined to be identified.
Gamuda and MMC were not immediately available for comment.
“However, it’s not certain whether Gamuda-MMC will also be awarded the tunnelling portion of the project,” the source said, referring to the RM14 billion drilling component of the project.
The rail system is part of a government plan to alleviate traffic congestion in the capital, and is expected to spur a slew of other building projects and contribute to economic growth.
MMC's Syed Mokhtar - another Umno crony
Analysts expect the Gamuda-MMC venture to get the tunnelling job as they have had similar previous experience.
Local media had previously said the government was contemplating a “Swiss Challenge” model for the tunnelling project, where other parties are invited to put in bids that match or better Gamuda-MMC’s offer.
Construction analysts said the market had not fully priced in the award of the contract into the companies’ share price.
“Our target for Gamuda is RM4.64 per share, so there’s still more room to move,” OSK Research analyst Jeremy Goh said.readmore project KUALA LUMPUR conspiracy of silence"
| Perak pincess Raja Eleena is a major shareholder |
The companies got approval to oversee the building of a 156-kilometre mass rapid transit project in the capital, Kuala Lumpur, and the surrounding areas after a weekly government cabinet meeting, said one source who declined to be identified.
Gamuda and MMC were not immediately available for comment.
“However, it’s not certain whether Gamuda-MMC will also be awarded the tunnelling portion of the project,” the source said, referring to the RM14 billion drilling component of the project.
The rail system is part of a government plan to alleviate traffic congestion in the capital, and is expected to spur a slew of other building projects and contribute to economic growth.
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| MMC's Syed Mokhtar - another Umno crony |
Local media had previously said the government was contemplating a “Swiss Challenge” model for the tunnelling project, where other parties are invited to put in bids that match or better Gamuda-MMC’s offer.
Construction analysts said the market had not fully priced in the award of the contract into the companies’ share price.
“Our target for Gamuda is RM4.64 per share, so there’s still more room to move,” OSK Research analyst Jeremy Goh said.readmore project KUALA LUMPUR conspiracy of silence"
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