What do you think will happen to a business entity when its personnel overpaid RM59b for a purchase and when asked to explain has the audacity to plea ignorance?
What do you think will happen if nine of its divisions overspent their last year’s overall operational allocation by a total of RM3 73 billion?
What do you think will happen if six of its subsidiary companies paid employees up to two months’ bonus despite suffering an accumulated RM354 91 million in losses?
What do you think will happen if one of its divisions overpaid nearly RM270 million for advertisements when it chose to use direct bookings instead of open tenders?
The answer would be, this is definitely a badly run business entity, that judging by what is happening bankruptcy would be imminent! That these actions show that there is poor accountability and total lack of supervision on the part of its chief executive. The only logical action would be to sack the head of the conglomerate and the sacking of the divisional heads should be the next step.
The sad part is this chief executive is still allowed to carry on as if nothing has happened. No action is taken against the culprits in the divisions where the misdemeanors were perpetrated. Who is to be blamed …. surely the shareholders !
This is not a fictional case. This deplorable scenario is now played out in our very own country! This mess is perpetrated by our ministers and prime minister. Nothing is being done. The prime minister takes no action against the offending ministers. This is understandable for if action is instituted the final blame would appear on the doorsteps of the prime minister’s office.
But who should bear the ultimate blame? Do you not think that the ordinary Malaysians should shoulder the blame? Who voted the reckless financial imbeciles in to form our government? The Malaysians, were they not?
The Auditor-General’s Report for 2010 has just been released. Nine federal ministries and departments overspent last year’s overall operational allocation by a total of RM3 73 billion according to the 2010 Auditor-General’s Report released today
The Defence Ministry had paid RM76 billion for armoured personnel carriers APC procured by DRB-Hicom Bhd for only US$559 million (RM1 7 billion) but Defence Minister Datuk Seri Zahid Hamidi told Parliament last Tuesday his ministry did not have any information about the deal between DRB-Hicom unit Defence Technologies Sdn Bhd Deftech and Turkish firm FMC-Nurol Defense System FNSS for 257 units of Pars 8×8 APCs
Indah Water Konsortium IWK and Syarikat Prasarana Negara Bhd were among six government-linked companies GLCs that paid employees up to two months’ bonus despite suffering an accumulated RM354 91 million in losses in 2009 the Auditor-General’s report said today
The Tourism Ministry overpaid nearly RM270 million for advertisements when it chose to use direct bookings instead of open tenders the Auditor-General reported today.
See how our hard earned money was spent by the ministers in our present government? This reveals a total collapse in the government administration of our financial resources. How long can things go on like this? This plundering has been going on for far too long. It is high time for ordinary Malaysians to stand up and take responsibility for the running of our country!!!!!