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TABUNG HAJI FIASCO: IT LOOKS LIKE IF BN DID NOT LOSE PRU14, WE WILL NEVER KNOW THAT NON-POLITICIANS WERE IN THIS TOO

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TABUNG HAJI FIASCO: IT LOOKS LIKE IF BN DID NOT LOSE PRU14, WE WILL NEVER KNOW THAT NON-POLITICIANS WERE IN THIS TOO

Simple accounting rule says that if you dip into your capital to pay out dividends, you will be broke in no time! Tabung Haji had to make that a rule that no dividends are payable if the Fund is in the negative.

But politicians saw it fit to break this rule to remain popular. And subsidising the Haj that cost about RM10K per pax, with another RM10K, to the tune of RM400 million per Haj season? Of course that’s better than buying Equanimity, some would say. Completely missing the point!

Nothing wrong with that if you have the money, but not if your investments are forever losing! That myopic short-term attitude can be expected from crooked politicians, but think how many people that this move have to go through to see the light of day?

It is time to get the ‘enablers’. The so-called professional managers that were being paid RM5 million per year with exotic cars littering the house, BNM, the regulatory agencies, the in-house lawyers, the internal auditors, the corporate officers and the investment people. It’s outrageous!

Billions spent on their education because they were Bumiputeras, and yet they come back to screw their own people who had fought so hard that they see the gates of a university. Ungrateful bastards!

Now we know why they are paid so high. To shut up! Or look the other way. They look forward to lump it all on Najib. He asked them to do it, they would say. But the high salaries they keep it all to themselves.

The previous minister, the last two previous Chairmen, the CEOs and the CFOs must be put in jail. No compromises this time. If the above requirement is in the Tabung Haji Act, they should also be whipped.

What else is next? Now that we know the ‘enablers’ are everywhere, who pretended that they have no choice because crooked politicians were their bosses, but when in fact, money is their boss and that they were complicit.

Very few vote with their feet anymore because the wife and kids are used to the Mercedes-Benz parked outside, bought with money from the poor folks who trudge in the hot sun. Solve this Dr Mahathir, that’s what we elected you for, and don’t dig another hole to fill up this one.

UMAR MUKHTAR

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