tag:blogger.com,1999:blog-19741162.post4433163507900135081..comments2024-02-22T02:33:21.869+08:00Comments on Another Brick in the Wall: Who should be accountable for UEM's Supplemental Agreement screw up?A Voicehttp://www.blogger.com/profile/01780035743502972342noreply@blogger.comBlogger128125tag:blogger.com,1999:blog-19741162.post-58387799879804054052009-07-11T00:38:06.711+08:002009-07-11T00:38:06.711+08:00Back to 2006 when ridza take control of UEM, at th...Back to 2006 when ridza take control of UEM, at this moment, so many change in UEM hierarcy, this guy in, that guy out and so on...<br />Some been transfer back to malaysia, other been advise to resign etc... PLUS announce 3rd lane widening... The 3rd lane widening done and still not complete until now... only some area already complete.. soon after it open to public, the newspaper report "Bas Terbalik la kat hiway PLUS"... Oh the break not functioning... oh driver sleepy... oh driving too fast.... and so on... but when CSL did their investigation... the report come out is bitumen content too high. They are getting approximately 3.4%, the number just like this 3.39 or 3.38 just to make it simple, the writing was 3.4%. Then there is news, in qatar, UEM got to final the bitumen asphalt in the range of 3.4% to 3.6%. Previously the local contractor already use this spec of bitumen on salwa road package 1, but it bleeding. Oh... Very good, UEM already knew the point of bleeding for the bitumen. It should be a little below of 3.4%, may be 3.395% is fine enough. Nah... it settle. So forget about the accident, it rarely happen. Only during hot weather, at some place, and most important only heavy vehicle will be in trouble. <br />Nobody will knew about this. End of history for salwa road.<br />In all construction project, we will send a report to our consultant on monthly basis, there it is, Monthly Report. In this book, we wrote about the project we are doing, such as lab report, we wrote the MDD we are using, CBR of the material etc... the structure that ongoing.. the earthwork and etc... layer by layer... then past to the consultant, approved and past to the client for payment. Include in this report is a graph we call " S-Curve" hmmm wander what is this thing? Oh it a line for fun... but why we need to includes the curve. It got date, weightage for every work we did. Hmm how the consultant or the designer create it? Base on what? Anybody know?<br />If you didnt understand the relation, good, you are UEM, who did the job but you didnt know what you are doing. Have a nice day.tooth-toothnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-57001243860022186182009-07-09T22:01:37.029+08:002009-07-09T22:01:37.029+08:00Dats why PPSMI should continue. Otherwise we will ...Dats why PPSMI should continue. Otherwise we will have Engineers like tooth-tooth. No wonder projeck all hancusss!!<br /><br />But, well done for trying. Dont give up!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-91173807689491363422009-07-09T21:30:48.960+08:002009-07-09T21:30:48.960+08:00I am not an engineer. can someone please explain ...I am not an engineer. can someone please explain in simple English or Bahasa what tooth-tooth with his/her rambling comments is trying to tell us?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-18271903150855211512009-07-09T11:39:02.322+08:002009-07-09T11:39:02.322+08:00Revise again 2005 incident
- pavement thickness 15...Revise again 2005 incident<br />- pavement thickness 150mm-2 layer<br />- damaged within a month after open to public.<br />- no 'longkang' was built.<br />Type 5 2006<br />- pavement thickness 120-2 layer<br />- damaged within a week after open to public.<br /> no 'longkang' was built.<br />All similar, only differ on pavement thickness by 30mm. so we can conclude : less thickness mean less good day for the traffic.<br />Let go to 2007, Qatar employed "PMC" to do some test on Salwa road. Check with the area where UEM didnt do any work yet, the result of core test is:<br />- pavement thickness 70mm<br />- no damaged at all before and after Asean Games.<br />- no 'longkang' was built<br />- The best is, UEM didnt touch this area yet.<br />Hmmm... wonder why? Maybe UEM and PARSON good luck.<br />Mr PARSON, why the area that didnt touch by UEM with your design still in good condition before and after ASEAN Games? The asphalt less than your type asphalt. Is it a sign of very good asphlat? Or it a sign of your design/manpower not qualify? <br />Next. we'll talk about, why local contractor cannot but UEM can, finalize the asphalt matter.How they did this? What is monthly progress report? What is 'S' curve? How it calculate to set up time and progress?<br />Next will be final episode by tooth-tooth on Salwa Road matter.tooth-toothnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-21919223992189194762009-07-09T10:03:57.906+08:002009-07-09T10:03:57.906+08:00jeng...jeng..jeng..
Sure menarik nih!!
Temperatu...jeng...jeng..jeng..<br /><br />Sure menarik nih!!<br /><br />Temperature pun dalam bangunan ni pung mmg lain macam jer sejak boss baru masuk..<br /><br />13AAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-4087705110288619192009-07-09T07:15:26.921+08:002009-07-09T07:15:26.921+08:00Voicey..Rumours has it that Chairman Tajuddin had ...Voicey..Rumours has it that Chairman Tajuddin had a meeting with you yesterday. However, no one can confirm such a meeting.<br /><br />Can you please enlighten us all, if such a meeting did actually take place, the outcome of it. We would like very much to know.<br /><br />Thank You.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-84276513839319342842009-07-08T20:25:21.355+08:002009-07-08T20:25:21.355+08:00Voice,
Wat was our Chairman response/answer to th...Voice,<br /><br />Wat was our Chairman response/answer to the issues brought by your blog?<br /><br />We know you meet with TSTA this morning.<br /><br />Please fill us in the outcome.<br /><br />Thank YouAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-62140128269431724382009-07-08T12:43:41.690+08:002009-07-08T12:43:41.690+08:00now let see, how UEM settle the problem when their...now let see, how UEM settle the problem when their material MDD below 2.Hmm i wonder why they need their GSB MDD more then 2. Maybe any highway design expertise out there can answer.<br />As all of the person who work in qatar know, they have 2 type of basis material. It is limestone and gabbro.<br />This two material can be mix to perform better quality of material. But need to blend and proper test before u carry out at site.One more important thing is gabbro density is approx. 2.1 - 2.3compare to limestone approx. 1.4 - 1.8. They never blend it properly, instead when the material cannot achieve MDD 2, UEM simply add gabbro powder only to increase the MDD. So this MDD problem settle but what happen to the affected area? Again we look at this powder, what will it do to help or destroy the affected area.<br />1- gabbro powder increase the density but not the CBR of the area.<br />2- gabbro powder easy to work with since u dont need to fully scarify the area, just little scarify on top then just vibrate, all this powder will go down since it too small and heavier than lime stone.<br />etc etc... just add as u like. powder..<br />Next we will talk about type 5 incident and the comparision to existing road that not touch by UEM but didnt damaged. Why??? What wrong with UEM method of work... Consultant to answer since they look after this project..tooth-toothnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-63171860529006996912009-07-08T11:48:40.645+08:002009-07-08T11:48:40.645+08:00Anon 12:05am
Carefull with what u wish for..
Ber...Anon 12:05am<br /><br />Carefull with what u wish for..<br /><br />Beringat sebelum kena..<br /><br />Jangan ingat your so-called processes takda loop holes. You of all people should know where are the holes. If operatives like Ms. Ng looking after procurement and contract..IT IS HALF PAST SIX!!<br /><br /><b>As was mentioned by others: Siapa Venugopal Nambiar?? Siapa Dato MnM??? Angkasa Jasa??? Kaba??? GLUCON Builder??</b> Tu baru sikit!!<br /><br />Kenapa budak-budak procurement P2X cuma ditransfer dan bukan dibuang sebab curi duit rakyat?? Sebab hal rumput pun sanggup mencuri!! D.I. boleh direka..ko pun tau. Sudah la bro..<br /><br />Datang lah ke site. Jumpa la Mr. Bulldozer!!<br /><br />Kalau mau boleh panggil Bernama..seberang jalan jer bro..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-90590217341512972932009-07-08T00:05:40.608+08:002009-07-08T00:05:40.608+08:00Anon 5:59 PM...from IJN project
Ur sure masa tend...Anon 5:59 PM...from IJN project<br /><br />Ur sure masa tender ada 15 % profit?Maybe bila award harga barang naik..subco lagi mahal,specifications assumed tak ngam dengan IJN...macam2 ada..<br /><br />Buat contract bukan kerja senang bro..cakap kosong..tembak kiri kanan..everybody can do lah...<br /><br />If ur serious bagi aja PROOF...pergi kat MACC..jadi protected witness..bongkar semua.Ini berani jadi anonymous buat tuduhan tak ada asas langsung...malu lah Bro.<br /><br />UEMB ada process mau kasi subcon award..macam2 control..you ingat UEM ni half past six?Bukan bolih kasi gitu2 aja...u memang cakap kosong.Project IJN tak bolih jaga..asyik mau blame orang lain...ukur baju badan sendiri dulu.<br /><br />Mr Fair and SquareAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-48968346932975216772009-07-07T22:24:25.463+08:002009-07-07T22:24:25.463+08:00Voice,
So how? Accountability & Transparency....Voice,<br /><br />So how? Accountability & Transparency. Who are the culprits? Who's responsible?<br /><br />I think..NO ONE!!<br /><br />Coz, this is the Malaysian Corporate Scene at its best.<br /><br />AzadAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-81518103095423035952009-07-07T22:19:56.812+08:002009-07-07T22:19:56.812+08:00Read This: How come the bosses say they don't ...Read This: How come the bosses say they don't know!<br /><br />=======================================<br /><br /><b>PREDICTED LOSSES FOR UEMWORLD (UEMW) FOR 4QFY2006</b><br /><br />Latest news from Qatar is that the losses by UEM continue to mount and things are not getting prettier by the day. Despite declaring a provisional loss of about RM 200 million in 2005 and Mr Ahmad Pardas Senin (MD of UEMWorld) committing to no further provisions of losses will be made in 2006, the attempts to hide the truth is becoming more and more difficult by the day. 2006 is coming to an end and what has been achieved in terms of progress is just over 60% progress. The main line expressway was rushed to be completed in time for the Doha Asian Games. The "so called completed expressway" was a actually a cover up as the final pavement layers were not carried in accordance to specifications and design in most areas. This is now obvious as reported in the Gulf Times(refer to news article in Appendix 1). And if one were to travel along Salwa Road, one would observe the pavement layer in several areas to be cracking after opening to traffic less than 2 months ago. At this point in time the damage is still being investigated but the cost of repairs would probably be in the region of QR 200 million at the expense of UEM.<br /><br />The attempt to cover up the cost overrun incurred by UEM is becoming more and more obvious. Staff involved in the project has been told that all documents regarding budgetary cost plans and claims related to the project is off limits and there is a clamp down on circulation of these documents. Even the contracts claims staff have no access to these documents, suggesting that the cost overrun has now ballooned to more than QR 800 million in losses. It was also reported that UEM has not been paid for 4 consecutive bills totaling QR80 million as the Client Ashgal is now going to impose Penalties. Our source in Ashgal has informed us that UEM has been issued an Extension of Time of about 40 days from the original completion period of April 2006 and UEM is now incurring Penalty cost at a tune of QR 315,000 per day starting from June 2006 to the anticipated completion date. Even if UEM is terminated in February 2007, the penalty will aggregate to a sum of QR 94,500,000 for 10 months. Please note that there is no ceiling in the Contract and the exchange rate for QR and RM is almost 1:1! <br /><br />So what is the cost overrun anticipated by UEM which the company is so tight-lipped about? 2 scenarios exist:<br /><br />Scenario 1: If UEM is terminated by Ashgal, the direct impact is encashment of performance bonds (QR 44mil), the loss of working capital borrowed (QR400mil), the loss of 4 months of unpaid claims & retention sum (QR 120mil), the loss of plant & equipment (QR 50mil), rectification cost of defects (QR 200mil), penalties (QR 94.5mil) & Ashgal’s back charges to complete the remaining work (QR 400 mil). All this comes to a staggering total of QR 1310 mil.<br /><br />Scenario 2: If UEM continues with the project and are unsuccessful with the claims, the cost overrun is anticipated to be construction cost (QR 500 mil), Penalties (QR 113 mil for 12 months), defect rectification (QR 200 mil) totaling QR 813 mil.<br /><br />Notwithstanding the high probable imposition of Penalties, Ashgal is now mooting to terminate the contract due to the insipid performance displayed by UEM over the last 1 year. With many experienced staff being removed and or leaving the project and frequent changes to the top hierarchy chain of command, major confusion exist at the site level of who is really in charge of the project and the staff are generally demotivated and lost in the woods. <br /><br />Should UEM be terminated or even strive to finish the project, the consequential losses to UEM will be definitely exceed QR 800 million and will be the final blow adding more woes of the GLC in making a comeback trail.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-86819746165165547052009-07-07T17:59:05.784+08:002009-07-07T17:59:05.784+08:00Anon 10:26
We UEMB site staff at IJN la. What coc...Anon 10:26<br /><br />We UEMB site staff at IJN la. What cock u talking about? When did Ridza come to site to see us? I tell you la, 3x over last 4 years! You all wan me to swear ahh? He come her look see look see then chao do not where he go..maybe chaquat I don know.. Hehe..<br /><br />Tell u something else, Ridza so bloody good recently got glass panel broken so need to change.Contractor say can cant no problem but pay my money first la. We thot a lot..niama..95,000 only! HQ sd cannot pay coz no more money! Big company like UEM mo money meh?? Ya lor.. Hutang tak bule bayar!! Malu!! So our PD try slow talk to sub-con. Still no jalan..coz Hamid's crony maa..Hamid no good term with PD. So, PD give undertaking.<br /><br />So, Azlee u don talk cock here la. U talk some more we will expose to public how a profitable project, more than 15% wen we win tender design & built, can lose money!! Which sub con belongs to who? Hehe.. U think we titun here meh?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-51038525057397125812009-07-07T17:34:44.265+08:002009-07-07T17:34:44.265+08:00Anon 12:00pm
Sensationalising the issue??? U mean...Anon 12:00pm<br /><br />Sensationalising the issue??? U mean stop exposing how u guys spent our hard earn taxpayers money? U are under our pay-roll, please do not forget OK!!<br /><br />We applaud what this blog has done. So please, Mr Voice, carry-on. Correct the wrong. There's no place for pirates like Anon here & his free-spending bosses looting our treasures.<br /><br />BTW, don't blame others for faults of your own doing. Negotiate all you like with the Qatari. It's too late already anyway.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-78780646375245329862009-07-07T17:03:12.335+08:002009-07-07T17:03:12.335+08:00Anon 12:00
Knapa suruh kamik stop plak? Takut ke?...Anon 12:00<br /><br />Knapa suruh kamik stop plak? Takut ke? Takut apa? Takut kalah ke? Ke maluuuuu..satu dunia dah tau betapa bangang nya UEM & biolnya mangkuk sekor tu. Dulu punyala berlagak mcm dia tu la yg besor. Sudu nya lagi la besau! Hah!! Skrg amik la korang. Masa seronok enjoy joli sakan tu tak ingat yek.Ckp kat org dtg Qatar tp pergi Spain!! Apeke jadahnya ada kat Spain tu yeop? Projek apa kat sana? Haji pulak tu..!! Isk isk isk..Boss2 kamik tu mengencing tak abis abis..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-70066504653660819402009-07-07T15:33:07.003+08:002009-07-07T15:33:07.003+08:00Now, we'll talk about 'longkang', this...Now, we'll talk about 'longkang', this longkang locate close to the highway.Actually this longkang is similar to proctor mould in the lab. One of the requirement of GSB is CBR more than 60. But UEM always get 100. Woww.. very good quality of limestone.But if we overcrush the material, it tend to turn into powder.. we'll lost the powder at site. So .. to prevent from losing it, we should cover the area... how? Just built the longkang.. finish. It made of concrete, so... it protect.<br />Haiyaa... this longkang arrr... really trouble some arrr... too expensive maa... millions of qatari riyal. Okehhh we'll talk about how UEM overcome this MDD problem when they can't achieve MDD more than 2 on next issue.<br />To panic bro outside there... dont worry laa , if qatari want to use this term they need proof something happen on 2005 laaa... sapa ada??? cari dia sampai dapat, mintak balik la proof tu...tooth-toothnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-67274579385040092782009-07-07T15:23:36.790+08:002009-07-07T15:23:36.790+08:00kepada anon 11:34a.m
setahu saya la kan... UEM ta...kepada anon 11:34a.m<br /><br />setahu saya la kan... UEM tak kan bayar, kalau dia kena saman... rakyat le yang bayar... apa korang susah hati... gaji tetap maintain.... dapat bonus 5-6 bulan lagi perr... kalau takot sangat, pi la bodek MD-MD, CEO-CEO tu... hihihi.. susah sangat Haji SS tu kan ada....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-73410904684548206782009-07-07T15:10:39.047+08:002009-07-07T15:10:39.047+08:00Anon 10:26
U sure or not your story? U must be jo...Anon 10:26<br /><br />U sure or not your story? U must be joking la..or are u high? Maybe a commentar was correct: some1 shud start a blog on UEMG. Then maybe this time ALL the so called "cleaning-up" the mess by Ridza can be told..For now what has been told in this 100-odd comments abt Ridza's way of managing a public company is only 10%. Oh yes..there's plenty more. Not to mention the ladies.....N...<br /><br />But one thing for sure, Ridza is moving forward..towards the front door!!<br /><br />Sayonara Ridza, his SFA boys, his boys...and the ladiesss..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-64978073473368944652009-07-07T12:27:16.808+08:002009-07-07T12:27:16.808+08:00I have a few sound advice to give to the new MD/CE...I have a few sound advice to give to the new MD/CEO of UEMG who is now taken helm at Mercu:<br /><br />1. Do not trust the people surrounding you. Go to the ground and talk to those on the ground to gauge the sentiments.<br /><br />2. Check the state of affairs and the financial health of UEMG..particularly UEM Builders, UEM Land, Pharmaniaga. UEM Builders is on the brink of collapse and quickly needs resuscitation<br /><br />3. Don't believe what the MDs of the companies tell you at face value. They have been good actors anf have run round Pardas legs for years hiding their secrets. The winner of the Academmy awards goes to ........( i think you will find this out by reading this blog)<br /><br />4. Look at their business plans especially Group companies that are venturing overseas. They are the ones enjoying the pleasure of flying 1st or Business Class and clocking up Miles for free trips with for the future. There are many that detour to visit loved ones studying abroad under the pretext of transiting <br /><br />5. Review those representing Group in the Board of Companies especially those established overseas. You will be surprise to note how luxurious and extravagant some may turn out to be<br /><br />6. Review the numerous events, lunches, dinners and golf trips that are being organised at various levels despite the period of crisis and cash crunch <br /><br />7. check what goes on at the UEM leadership centre and its extras<br /><br />8 review the perks and extras that some of the MDs are now enjoying ..2 to 3 company cars at one's disposal, high expense account for entertainment ( some on pretext of dining with Ministers and politicians), hiring of bodyguards ( for the purpose of safequarding oneself from his private affairs), rewarding of staff loyalty by using companies fund to organize overseas trips and entertainment for the selected privileged,<br />payment for wife's visits and allowancesduring overseas trips ( this affects selection of hotels as the switch from the normal business hotels to 6 star boutique hotels).....<br /> and the list can go on and on<br /><br />I trust that you will know what to do to avoid falling into the same trap...or find yourself under the scrutiny of VOICE and his cute birds.<br /><br />signing off.....swallow at MERCUAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-60118266208773573832009-07-07T12:00:44.433+08:002009-07-07T12:00:44.433+08:00As a UEMB staff serving in Qatar, I feel that any ...As a UEMB staff serving in Qatar, I feel that any disclosure of the supplementary agreement and shortcomings in the organization paints a negative impact to the outside world especially the Qataris.<br /><br />Our MD and Haji SS have been visitng Qatar regularly these last few weeks to engage the Qatari suthorities and we are close resolving our issues with them. So I wish to appeal this blog to refrain from further "sensationalising" this matter as it does jeopardise the outcome of the negotiations.<br /><br />Thank you and bless youAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-52196074379544270552009-07-06T15:14:19.589+08:002009-07-06T15:14:19.589+08:00Jus as a guide, when CK took over TNB, he brought ...Jus as a guide, when CK took over TNB, he brought in 25 of his buddies into the company, Izaddin included. Displacing a far more capable & experienced TNB SVPs, VPs from holding level right down to subsidiary companies.<br /><br />Hopefully our new MD do not take that road otherwise, lots of the senior staffs in UEMG will jus rot & die!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-52685937177095813942009-07-06T14:13:56.789+08:002009-07-06T14:13:56.789+08:00What UEMB needs is Mr. Bulldozer!! Not Ridza Not S...What UEMB needs is Mr. Bulldozer!! Not Ridza Not Suhaimi Halim.<br />But...Who is this Mr. Bulldozer??Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-20188138624223650772009-07-06T10:39:23.122+08:002009-07-06T10:39:23.122+08:00PREDICTED LOSSES FOR UEMWORLD (UEMW) FOR 2QFY2006 ...<b>PREDICTED LOSSES FOR UEMWORLD (UEMW) FOR 2QFY2006</b> cont'd<br /><br /><b>Summary</b><br /><br />Whatever it may be, DAPS will need to reprimanded for the way he has handled the business community by misleading everyone from day one. The Masters at Putrajaya must be alerted so that something can be put right before it is too late.<br /><br />====================================<br /><br />For readers information, neither MoF nor Khazanah gives a damn what goes on inside UEMG.<br /><br />To the good people in MoF, UEMWorld and later UEMGroup is Khazanah's sick baby.<br /><br />To Khazanah..maybe UEMG is their illegitimate son that needs no attention! They are free to do whatever they like. It seems so too. Ridza practically had a free hand!!<br /><br />So, doen't this gives credence that the re-structuring IS actually a cover-up?<br /><br />God help us all.<br /><br />Little BirdAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-10343126160178977802009-07-06T10:30:11.197+08:002009-07-06T10:30:11.197+08:00PREDICTED LOSSES FOR UEMWORLD (UEMW) FOR 2QFY2006(...<b>PREDICTED LOSSES FOR UEMWORLD (UEMW) FOR 2QFY2006</b>(cont'd)<br /><br /><b>2 - Current State of Affairs</b><br /><br />The authorities in Qatar have been blamed for contributing to the increasing losses faced by UEM. It was informed that UEM had told the authorities that they have incurred cost of QR688 million against revenue of QR288 million. This is against a backdrop of 55% physical progress. A deficit of QR400 million has been bandied around but the Qataris are holding firm to state that they will not entertain the claims from UEM as per the provisions of the contract. <br /><br />Whilst it can be arguable that UEM may have some cause for claims, traditionally, any disputes will have to be channeled through the litigation route via the Courts of Qatar. The process is long, tedious and may cause UEM to spend more money for hiring international Arabic lawyers, translators eventually. Notwithstanding this, the litigation route would spell an end to further forays into Qatar by the UEM Group as the Arabs are known to expel companies that take them to court! DAPS in his press statement (Sun 26 May 2006) confirmed that UEM will take legal action to recover additional costs it incurred. The Qataris are aware of UEM’s intention and is now positioning themselves for a battle. Was it a wise move to tell the whole world your intention especially to your enemy who is now preparing his counter strategy?<br /><br /> <br /><b>3 - The Loss – What next?</b><br /><br />So what is the loss that will be suffered by UEM in Qatar eventually? There is a strong possibility that the losses will eventually be in the region of RM500 mil as quoted by DAPS. The costing personnel and auditors are now coming up with projections to this estimate. So how is DAPS going to treat the provisioning of further losses to a tune of about RM500 million when he promised the business community and the financial world that there will be no provisioning in 2006? Was the road show with the media and finance analyst in April 2006 to hood winking everyone to spice up the shares of UEMW and UEM Builders? It was rumored that prior to this event, the image and performance of DAPS was not impressive and there was a need for him to show to his Masters at Putrajaya that he had the magic wand to turn around UEM. So did he do it to save his own skin?<br /><br />It is always said that “desperate man will do desperate things”. If the additional provision of losses is inevitable in the coming financial reporting, it would not be surprising that some form of fudge actions will be put in place to cover up the entire affair to save embarrassment and of course his position as MD. What are his options? For one, he may look to his faithful friend at UEM Builders to fudge the figures to hide the losses. Second, if this is not possible as the cash flow will eventually rear its ugly head, DAPS may try to pass on the losses into UEM Bhd books since it is not a public listed entity. Is this morally correct as whoever is carrying the can, it involves tax-payers money! This is a more likely scenario but this option will need the blessings from Khazanah. Tough call ahead by Datuk Azman Mokhtar who selected DAPS as the man to turn around UEM but instead will discover that he will be “turned around” by DAPS. <br /><br /> <br />The third option would involve a Government to Government settlement that is indirectly a bail-out for UEM. For this to happen, it is almost certain the Government of Qatar will ask for favors in the international agenda e.g. trade agreements, geo-political issues such as OIC chairmanship support, etc. All these at the expense of the Government of Malaysia. At least, some compensation can be received to minimize the bleeding suffered by UEM. Having said this, the loose cannon speech by DAPS stating that legal pursuit will be activated has not helped this option to be materialized.<br /><br />Cont'dAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19741162.post-90633094869323668452009-07-06T10:26:53.254+08:002009-07-06T10:26:53.254+08:00Who will be the fall guy, the sacrificial lamb in ...Who will be the fall guy, the sacrificial lamb in this latest cock-up? <br /><br />Mana ada cock up bro?Itu Qatar suit>>no one can stop anyone suing anybody lah..the edict is one is innocent until proven guilty.Why the assumption ada "cock up"?UEMB can go on attack and counter claim the Qataris for billions too...<br /><br />Now..Ridza completed all the messed up jobs secured b4 his era>>IJN,PLUS,India,Qatar...now he is moving fwd to re create that UEMB reliability n nation builder status with major jobs such as P2X,Saudi,Singapore,Iskandar..<br /><br />He got all the right ppl in position..all the old frustrated guys are sidelined and replaced by a new breed of "performers"..<br /><br />The show is going to hit the stage and it will be a blockbuster.U guys just got it all wrong..Anonymousnoreply@blogger.com