Firstly, I understand that PNB has alot of depositors money. But PNB has also earned alot of money from its investments.

In accounting, the separate legal entity doctrine rules. I'm sure PNB practices Corporate Governance and a separation of roles. Thus, a company's affairs is it's own. Despite a government establishment, but a company like PNB also has its own Board of Directors. Let the BOD decides which directions PNB would take to enhance its investments and the lucrative venture into PROPERTY.

The reason is simple. You can't get 8% return from building schools and hospitals. In fact you'll make a loss on investment if an investment company decides to go into infrastructure stuffs. People cannot blame PNB, because the meaning of business is making profits, and that is ultimately what PNB is making (or trying to make) ever since it started operations. And in business nobody DONATES RM5 billion to the public for nothing, for no reason, because that is essentially the job of the Government.

From the beginning, its VERY WRONG to announce it in the Budget. Stupid!!! In fact, the WRONG side is the PM himself.

Its WRONG that the PM himself is not focussing on more important pressing issues in the Budget. There is nothing wrong in the 100-storey if PNB does it all alone, but the government went ahead to announce someone's project in its own Budget. More like SYIOK SENDIRI since PNB's shareholder is the GOVT. We need to PRIORITISE THINGS.. oh dear!

It is giving a very wrong signal to the business community and foreign investors. The Rakyat @ Facebook vs The Govt. In the end, both parties caused more harm to the nation.

This post has been edited by accetera: Oct 23 2010, 05:31 PM

the thing is it will be completed 2015+ to 2020.
and we are not building it yet. on theory, mrt should be running at dat time.
again, the project is good for KL property values but de govt shud NOT shout loud and announce via Budget.

but typical msian govt shooooting HOT AIR all the time. Poor in implementation but no1 in TALKING BIG n SYIOK SENDIRI.
in the end, we may not build IT, and the foreigners are already laughing after the news appearing everywhere.