Actually this is an old story given a new lease of life...after all it comes in the wake of the Port-Klang Free Zone bailout...
Najib must bear brunt of the RM6.75 billion naval scandal
And this involves a massive bailout too - Boustead Sdn. Bhd. had to fork out money to 'save' the company, PSC-Naval Dockyard, a subsidiary of PSC Industries (or is it Tan Sri Amin Shah's butt?) whose major common shareholders are Lembaga Tabung Angkatan Tentera. Incidentally the bank most affected, Affin bank, has a major shareholder in Boustead. So it is a bailout bigger than that of PKFZ. PSCI was once a public-listed company on Bursa Malaysia; if you wonder where it has gone, don't worry - it has been renamed Boustead Heavy Industries (BHIC).
One question I want to ask: will the Tan Sri involved in the centre of this bailout ever be brought to court for mismanagement of funds? After all the billions of ringgit 'disappeared' just like that...of course into pockets of certain individuals...
Wait: let me give you the answer - no, and never will. After all, this is Bolehland.
Thursday, September 13, 2007
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