Recently, Government announced that the pay out subsidy for private cars below 2000cc, SUVs below 2500cc and motorcycles below 250cc be made on cash, via all the post offices in the country.

RM billions have been put aside for this exercise, meant to alleviate the burden of the much thought to be a ‘Flip-Flop’ decision of the exorbitant increase in retail price of petrol and diesel two weeks ago. The exercise was said to be decided by the ‘Cabinet technocrats’ Second Finance Minister Tan Sri Nor Mohamed Yackop, Minister in the PM’s Department (in charge of EPU) Dato’ Amirsham Aziz and Agriculture and Agrobase Industry Minister Dato’ Mustapha Mohamad (from his NEAC experience), in a discussion meant to address the issue of IPPs and the affect on electricity tariffs. Eventually, someone proposed to unlift all subsidies on retail petrol and diesel eventually and pushed for PM ‘Flip-Flop’ Dato’ Seri Abdullah Ahmad Badawi to announce hastily.

Maybe the public is not aware who are the shareholders of Pos Malaysia Services Holdings Bhd., the wholly own parent company of Pos Malaysia which has been given the authority and funds to channel these monies.

As of two years ago, pre-merger with ECM Libra, Avenue Capital Resources Bhd. owns 15.6% of Pos Malaysia Services Holdings Bhd. When the merger was successfully announced August 2006, which received approval of all the authorities (despite the attention drawn to the highly dodgy deal of ECM Libra merging with a much bigger firm and eventually took control), it was still believed that presently, ECM Libra still has the strategic 15.6% holdings of Pos Malaysia Services Holdings Bhd.

So who actually benefitted from this subsidy payout scheme?

If the amount is in the neighbourhood of RM 1 billion, then long term deposit with a commercial bank, Pos Malaysia or indirectly, ECM Libra would have made RM 39 million per annum or RM 106, 849.32 daily.

READ MORE HERE 

Comments (51)

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written by Raja Gasper, June 18, 2008 13:49:26

KJ benefits but PM Badawi will say,he is not aware of such deal.The main concern is Pos and the people who got RM625 shares and nothing more than
that.All is rumors......rumors,don't believe it,lie,lie...said PM Pak Lah.

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written by shiokguy, June 18, 2008 13:50:03

Because we Malaysia are stupid
Because we go to shitty University

Yeah I blog about this 2 days ago, and why not just abolish the road tax. The simplest action will cost less to the tax payer. Now paying pos malaysia to do the job and still to bear with their long sour face!

Abolish Road Tax url]http://shiokguy.blogspot.com/2008/06/abolish-road-tax.html
and
url]http://shiokguy.blogspot.com/2008/06/road-tax-wavied-for-next-5-years.html

Why can't we just do the simplest thing possible? Now I know where this is coming from.. $$$$$$$

Shiok Guy

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written by Commonsenses, June 18, 2008 13:54:14

guys this is a one time payoff by Islam hadhari king and the following years the rakyat will have to subsidise 56 billion on their own. Its time to change the government only for cronies only.

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written by weehan, June 18, 2008 13:58:53

I can begin to imagine the amount of abuse that is going to happen in this refund business. Who is doing the audit the refund? How much money will be going into the pocket of the politicians?

It is going to be another “One for the rakyat and nine for me”.

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written by ghondoruwo, June 18, 2008 14:02:26

If all the things said about Mr ZZZ and 4th floor goons are true....they all will burn in hell!!! Islam Hadhari kepala hotak!!!

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written by mgeo, June 18, 2008 14:11:24

Perhaps it is not possible to take Post office out of the loop. However, the
fairly obvious solution that is much simpler is to offset the payment against road tax, and to pay on a pro-rata basis to those whose who renew in May or earlier (not just back to April) whenever they come to renew.

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written by LC Teh, June 18, 2008 14:13:05

The public is sitting on him and he's screaming. But he's actually enjoying himself, while it's the public that should be screaming bloody murder!!! His dick is in your a*** folks...

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written by avaaz, June 18, 2008 14:17:13

ONCE AGAIN SPOUSES OF MALAYSIAN CITIZENS ARE LEFT OUT,
WE CANNOT CLAIM THE REBATE, THOUGH WE PAID TAXES ON THE CARS AND ROad TAX, WE DRIVE OUR MALAYSIAN FAMILY AND WE GET TREATED LIKE ILLEGALS!!!
DOUBLE, TRIPLE, QUadRUPLE WAMMIES FOR SPOUSES OF MALAYSIAN CITIZENS.

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written by unomalaysia, June 18, 2008 14:31:16

Avaaz, Is there a gender bar on the rebate? I dont get your comment. As long as the car is registered in your name whether you are someone wife is irrelevant. You get paid. Also I thought you can claim up to 5 cars (correct me if I am wrong). You get 5 times. Also Riong Kali and Beruk Jantan also gets paid....
MALAYSIA BOLEH

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written by xgovtservant, June 18, 2008 15:26:25

My refund of RM 625 wAS spent in a day. They should have given me a 6 coupons of 10 liters each for each month (specified) whereby I can purchase at RM 2.00 per liter. Anything extra from the 60 liters per month I buy at normal rate. The coupons could be issued when renewing road tax . The petrol stations can collect these coupons and cash the difference of 7.00 per coupon plus a commision of say 40 sen from the post office. The Government does not have to pay out billions and the car owners make use of the coupons when necessary only.By paying a lump sum, this is not going to off-set the increase price of petrol

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written by onnetline, June 18, 2008 15:31:02

Kepada Tuan2 dan Puan2,

This is a strategy of 'killing' two birds with one stone.
The one bird(rakyat) who has been hit hard with a stone while the other(s) gets to live well and comfortable, even at RM5.70 per litre......... No sweat !

As usual, at the expense of the rakyat's pockets, I guess.

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written by redzuank, June 18, 2008 15:41:11

Its make sense. giving business to Post Office. REAL TAIK strategy!!!

http://redssays.blogspot.com/

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written by mali, June 18, 2008 15:47:59

shiokguy,
i AGREE with ur statement:
"Yeah I blog about this 2 days ago, and why not just abolish the road tax. The simplest action will cost less to the tax payer. Now paying pos malaysia to do the job and still to bear with their long sour face!"

POS Msia is like a gomen agency or private?
their staff is like the gomen servants where they dont smile & think it's our privilige or good-fortune for them to serve us.

usually the employee frm private sectors are trained to terat their customer "like king" (at least greet, smile & fast!), unlike Pos Msia staff so "eksyen"

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written by KARMANNGHIA, June 18, 2008 16:00:46

Biggest group of beneficiaries from the fuel rebate.

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written by netaddict1, June 18, 2008 16:23:00

these buggers want to untung in what ever they touch.
hey you, AAB! can't you for once just do something for the RAKYAT without thinking about your own bank account ?

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written by cheemengwong, June 18, 2008 17:03:07

Oxford go but you also must have a PM father in law to make money!

Many Oxford graduates can find job, let alone make so much money.

Malaysia Boleh, Khairy Boleh!

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written by jjireh99, June 18, 2008 17:15:20

why don't u all believe me when I say why put money into stinking armpits (mat rempits)hands??? Anyway, too late. Seriously, do u actually believe that the gomen is soooooo good as to do all these w/out making anything, profits, kick-backs, etc, for the rakyat?????? Again, when are all these corruption gonna stop??? It has to stop somewhere or else the consequences will be definitely very very severe for the perpetrators. Incidentally, can someone please ask Jala (MAS) to check all his MAS branches/offices all over Malaysia. So many complaints from customers that MAS is asking for cash when approached for services instead of the normal practice of issuing invoices for work done????

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written by hakuna, June 18, 2008 17:18:41

The most idiotic way of helping the masses.
Why didn't the government just deduct the amount that the government is so generous in giving away from the price of fuel when it was increased or totally abolish the road tax?
The whole deal smells rotten and definitely rotten hands were there to make this system.

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written by Compadre45, June 18, 2008 17:51:32

The more i read about this useless sleepy moron AAB , the more i feel angry, frustrated, annoyed , disgusted etc ... anything about this bloke is never good to know about. @#$%^&*()_ @#$%#$$#$

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written by hksp, June 18, 2008 18:03:30

wtf can we do about this crap !!!!!?

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written by patlu, June 18, 2008 18:13:46

So senseless and incompetent, can't see the big picture how to solve the problem long term.

OK, everyone, here's what we can do as citizens (the Boss)...
SIGN THE DIRECTIVE to Malaysian MPs and adUNs to push the government to build an efficient public transportation system ASAP.

This is a very trying time, ONLY IN WORKING TOGETHER (political affiliations aside), we shall ALL survive. It is the Malaysians who make Malaysia. MALAYSIANS BOLEH!

Watch this video:
http://www.youtube.com/watch?v=myyWXKeBsNk
"Either we heal now as a team, or we will die as individuals. Inch by inch, play by play, till we are finished. We're in hell right now. Believe me. And we can stay here and get the shit kicked out of us; or we can fight our way back into the light. We can climb out of hell. One inch at a time."

TAKE THE BALL AND RUN WITH IT, MALAYSIANS.
More ideas on how to push this campaign effectively, visit http://www.pahlawan.com.my

Bloggers, please host this at your website. Thank you.

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written by whlau, June 18, 2008 18:57:25

From my understanding, the government saves about RM4b this year from the fuel subsidies, and yet, I read the other day it is giving out an estimated total of RM6b in the form of cash rebates to motorists and motorcyclists...what is this nonsense!

someone care to correct me?

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written by power2u, June 18, 2008 19:26:06

Wow,during election, Sleepy head n SIL won the post Malaysia award(biggest user of Post Malaysia through postal votes....)n now these 2 are biggest recepients of car cash rebates.
Celaka betul!!!!

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written by Motherchell, June 18, 2008 21:26:40

Malaysia is a Country where anything is possible ------plan Today -- do tomorrow--- never mind what the rakyat say or complain about.

In a country , where the State sanctions cheating as official policy, ----Thanks to the Forth Floor Einsteins---ones who wouldn't know the difference between a dog and a cat's balls. We had seen phantom voters , so how is these disbursement of the 625 going to be done , and who is going to check the authenticity of the exercise .

GreaT PLAN BY THE UMNOPUTRAS TO WIPE OUT THE COFFERS AS THEY GIVE THE DIMES TO THE RAKYAT ... WHAT A CONSPIRACY!!!!!

WHEN NAZ CAN RECYCLE APs , and make a million in a year ----- great things going for Malaysia . DSAI pl hear our cries---- !!!!!!!!! lets feed them fast off to the condors, vultures have given up the taste of UMNOputra dead meat .

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written by dinsmann, June 18, 2008 21:38:36

Reasons for gomen to raise a hefty 40% the price of petroleum.

1. To upkeep the plush living style of nepotismic friends and relatives to be at par with the third world ruling elites.

2. To force the rakyats to ask gomen for forgiveness and whatever crumbs that come with it to carry on living, barely. (hear the rumblings and back-stabbing or rather back-slashing that are happening now, drowning the sounds of monies being thrown around, through such as 'program pembasmian kemisikinan bandar' under ministry of MM2X)

PKR, eat your heart out!

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written by mikewang, June 18, 2008 21:44:57

Everything the BN government touches is corrupt.
There are always people who find opportunities in the misery of others.

This party is beyond salvation !

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written by Compassion_Seeker, June 18, 2008 22:20:50

"satu Lagi Projek Barisan Nasional"

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written by semut, June 18, 2008 23:08:26

kemana tumpahnya duit rakyat kalau bukan ke periuk menantu sendiri..
pak lah.. org tua sampah masyarakat..

http://semutmalaysia.blogspot.com

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written by tommycol, June 18, 2008 23:33:21

DIRTY BLOOD SUCKERS!!!!!!!!!!!!!!!!!!!!!
Here the POOR RAKYAT is SUFFERING and CRACKING the BRAIN to may end meets and there YOU ,RICHEST UNEMPLOYED are LICKING EVERY ASS DRY with your PLOY!!!!!!!
F**KING ASS LICKING BA*TARD, KARMA!!!!!!!REMEMBER ,RAJA AP ,so rich but the still go EMPTY HANDED !!!!!REPENT ASKHOLE

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written by Heaven8402, June 18, 2008 23:57:35

What goes around comes around. I'm waiting to see whats the finale of the kisah mertua & menantu. Even Hell is not appropriate place for them.
Thank you Malaysians for supporting BN, support jangan tak support.

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written by wishuponastar, June 19, 2008 00:01:08

Would DR.Mahathir condone POS M'sia's or rather KJ's unjust enrichment? KJ is a Malay and Dr.M says " Orang Melayu punya hak tuntut sebahagian kekayaan negara tanpa ambil hak orang lain".KJ is more Malay than Mahathir.

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written by Jester, June 19, 2008 01:57:34

Enough is enough. Just get rid of Bodowi and his cronies.
It is so obvious that BN is trying to take out ALL the rakyat money before they lose it to PR. Send ISA to investigate Khairy. Memalukan rakyat saja. I am damn pissed off with Bodowi. He deserve nothing but the sacking. Kalau boleh, remove citizenship of Bodowi and Khairy.

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written by trimalnash, June 19, 2008 02:15:27

no one has live in a peace with peoples money...
rakyat suffer ... politician happy
kj go to hell

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written by antares, June 19, 2008 03:12:53

Don’t know about you guys, but news like this for surely make us sick to the stomach. But then again no point sulking, biting our own thumb for comfort. What can we do to educate our fellow Malaysians who still think that this BN regime still works for us?
I personally feel that its our responsibility to tell the real story whenever this corrupt BN regime put up a “silap mata” and the BN shit hits the fan, like this crap rebate subsidy story to our families and friends. Why? It's one way of ensuring that the hard working rakyat wouldn’t be cheated again and again by these greedy BN pigs! Simply because the true color of BN politics means cronyism, manipulate croockery dealings and as proven over and over again, in retrospect it boils to nothing more than daylight extortion of the rakyat.
BN hidden political agenda is nothing more than the artificial comfort shit for the rakyat but nothing less than means of making money and more money for the rest of the big time BN players and piggyback riders. So people! how much longer can we swallow these BN shits? Are we suckers for BN regime? Let us educate our fellow BN believers the truth!

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written by asiaone, June 19, 2008 03:45:29

WHAT IS NEVER MENTIONED IN Mainstream Media like NST/TheStar/Utusan/BH are these facts....

Malaysian PerCapita Income USD 5000
VS
Singaporean PerCapita Income USD 25000

Further The Star made a comparison of prices in Thailand , Singapore and Indonesia .




For Thailand it is quoted at RM3.90/liter, however are they aware that in Thailand new cars are cheaper than Malaysia by RM10,000? They pay only one life time for their driving license? No renewal fee after that? Also that goes for road tax as well? And do TheStar also aware that you can drive all the way from Hadtyai to Bangkok on a six lane highway without paying any Tolls ??!!

Whereas here in Malaysia you have to pay yearly renewal for road tax , driving license and TOLLS, TOLLS, TOLLS!!!

For Singapore how can you quote RM 5.20 ? Please quote in Singapore Dollars because they are earning in Sing Dollars. You might as well say Europeans are paying RM10/liter. RM5.20/liter = Sing $ 2.20/liter, still cheaper than Malaysia in view of fact that Singapore is not a crude oil exporter. Are you saying that you fill up petrol in Singapore by paying Ringgit?

In economy, dollar to dollar must be compared as apple to apple. Not comparing like durian in M ' sia is much cheaper than durian in Japan !! Of course-lah, Japan is not durian producer!!! Comparing Malaysian durian with Thailand durian make more sense!!

For Indonesia we might say is cheaper there at RM2.07/liter but compare that to their level of income!


Now, let us compare the price with OIL PRODUCING countries:

UAE – RM1.19/litre
Eygpt – RM1.03/litre
Bahrain – RM0.87/litre
Qatar – RM0.68/litre
Kuwait – RM0.67/litre
Saudi Arabia – RM0.38/litre
Iran – RM0.35/litre
Nigeria – RM0.32/litre
Turkmenistan – RM0.25/litre
Venezuela – RM0.16/litre
MALAYSIA – RM2.70/litre

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written by Malay Ultraman, June 19, 2008 08:25:04

To all my MT friends and enemies..

Hold your breath... hold you stomach.. hold your pocket..

BN is falling off very SOON... and the price will be back to RM1.92!!!!


SAy your prayer!!

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written by nincumpoop, June 19, 2008 08:28:16

I am actually curious...KJ doesn't work and yet living life lavishly. Where the $$$$ come from..

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written by Rozlan, June 19, 2008 08:33:31

UMNO members still think that govt move to reduced the fuel subsidies was God given inspiration... That swhy many of them support it

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written by joejoe, June 19, 2008 08:45:30

When our Bodowi and other ministers keep making comparisons of our fuel prices with Singapore's and Thailand's, did you realize they did not mention our other neighbour Indonesia?

Indonesia is more similar to our situation -- ie: oil producing country. But it is different in one aspect -- Indonesia is also a net oil importer. In May, Indonesia raised their fuel prices by 30% to 63 US cents per liter - that is around RM2.07 per liter.

So where the fark did the gomen come up with the calculations that our petrol needs to be RM2.70? I am sure the whole rebate process was already thought about by KJ and the 4th floor boys -- and I am convinced they are the main beneficiaries of this.

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written by FFT, June 19, 2008 10:51:37

I find it ironic that a Mahathir stooge like Bigdog is whining about corruption and cronyism.

Is this supposed to be Thursday morning humor?

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written by Richfyf, June 19, 2008 12:09:46

PAK LAH SECRET OF STAYING IN POWER REVEALED.....By his own admission



Mr Abdullah, in reaction to Mr Yong's move, told Bernama news agency: 'I have not been able to satisfy his personal greed.'

I belive 100% with or "beloved" Prime Minister THIS TIME.

ABB we all belive you this time because it just make perfect logic now. From the way you run this country we now know that you have a tough time keeping UMNO members as well as BN components together. We know now how you do it. Too bad you cannot satisfied all their Personal Greed. You are pretty good still being able to satisfied quiet a number of personal greed. Am sure appointing Mr 2M as a senator and minister you are bale to satisfy his personal greed. So now we know the true success formula or your landslide victory in 2004. You were able to satisfy lots of personal greed then. Too bad times are tough and on top of that your family member numbers have grown so... some of the other people personal greed have to be turn down.

So at last our Beloved Prime Minister admitted that all this while he have been able to keep the rest of the Umno and BN leaders by satisfying their personal greed. Cause all this while I have been bewildered how could someone who sleeps most of the time even during parliament can gather so much support!!!!!!!!!

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written by danchung, June 19, 2008 12:50:54

Well as a Malaysian we can say the Duli Yang Maha Mulia Seri Paduka Baginda Khairy Jamaludin we should adderess him because he is the man run Malaysia.... AGONG simply just a wayang kulit......I think i want to migrate liaw after seeing this kinda corruption happening in Malaysia

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written by panca, June 19, 2008 13:29:41

Every doors of the govt. should work with a net secured to but extended far away from the frame giving the impression they are free(not free) to pass through as they like with corruption!

They should be caught in that dragnet for any malpratices and misappropriation!

There are by far many with corrupted gains but none others except one, known as the richest, self-declared unemployed politician.

They ought to be in the net!

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written by sukinong, June 19, 2008 14:36:45

Where got each decision made by the gomen do not benefit the decision maker. The chances is 0.00%. Furthermore...

0.05% chance the leaders will return all the money they stole

An estimated RM2 trillion of the nation’s wealth has been plundered and squandered by our leaders over the last 35 years or so. The chance of these leaders suddenly getting a serious attack of remorse, which will result in these leaders returning all this money they plundered and squandered, is as remote as the chance of Paris Hilton becoming a nun and campaigning for a ban on premarital sex.

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written by sukinong, June 19, 2008 16:17:33

ECM Libra would not only make money from the interest by fund advanced by the Bank Negara. In fact, they won't return the money from the vehicle owners who failed to change/update their vehicle registration card. Masuk poket sendiri.

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written by Jeevathma, June 19, 2008 16:19:54

Looks more like "Money Laundering" to me viz of three phases: placement, layering and integration through the unsuspecting Rakyat as the pay out of subsidy. Hawala yeah...

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written by Calcium2u, June 19, 2008 16:47:08

This AAB...tots he Bodowi..as many rakyat call him...look like he is not "bodoh" at all....can use this tactic to enrich somemore....
i think he" Sai Lang" once n for all....knowing that his time is numbered....
Never tot he will so smart to use this method.....make sure tat u can digest all this sin money that u earn.....

TNS...

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written by darrelwan, June 19, 2008 20:58:22

Petronas claims they are losing RM Billions through subsidized oil! There is no way an oil company can lose money! It's that simple! What can actually sent such companies bankrupt is mismanagement of funds, giving UMNO money and buying all the posh houses overseas. Did it occur to you the chairman/CEO of petronas is not listed as among the richest Malaysian in Malaysia?

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written by tommycol, June 20, 2008 00:42:31

To mincumpoop :Easylah just marry a girl with a 'sleepy head' father lo!!!!

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written by shiokguy, June 20, 2008 19:16:10

** Never Pump Full Tank **
Just read about this online and I repost it on my blog.
If it is true, then when the petrol attendant want to keep press the handle to fill your tank to the brim.. stop him!


Link>>>http://shiokguy.blogspot.com/2...etrol.html

Shiok Guy

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written by JV Lan, June 21, 2008 11:06:05

Back in Feb this year, if I remembered correctly, it was annouced that the percapita income was at about RM 23,000. Ok people, lets asumed that the figure is accurate and the government is happy about it (cos it has increased compared to the previous year). To the people it meant nothing because our cost of living is running high ang getting higher. Whats the point of having RM 23,000 per capita income if the tax rate is also high. Maybe people out there realised it or maybe not, individual are paying tax at a max 28% but companies are only paying 27%. Further more companies are enjoying tax incentives, allowances and what not. For us the salary earners we dont have that much insentives and every cent are taxable. Just imagine, with per capita income at RM 23,000, only RM 8,000 are allowed as personal deduction. I think it is rediculous. So if the gov really cares for the people here is my suggestion,

1. Personal deduction must be increase to RM 15,000/year.
2. Deduction for wife should also be the same
3. Deduction for children must be increase from RM 1000/ child to RM 5,000/child
4. EPF/Insurance deduction must be elevated to RM 12,000/year not merely RM 6,000 currently.
5. Maximum tax rate for individual - 15%
6. As of now,the personal rebate given is RM 350.00 for husband/wife for those with taxable income not exceeding RM 35,000. This taxable income threshold should be increase to RM 70,000.

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