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> Future of TRX and Bandar Malaysia?, Impact by New Government

Do you think which of the following development would be suspended due to new ruling government?
 
1. Tun Razak Exchange (TRX) [ 9 ] ** [7.96%]
2. Bandar Malaysia & High Speed Train [ 104 ] ** [92.04%]
Total Votes: 113
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HELLO HELLO
post May 12 2018, 04:36 PM

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I still think hsr will only stop check sekejap then will go ahead again. Our TM seem very interested to go ahead this hsr project.
nexona88
post May 12 2018, 04:37 PM

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QUOTE(Quang1819 @ May 12 2018, 04:09 PM)
Even though its just the first phase, but seems like a lot of have been done lol
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Then its kinda hard to scrapped the project..
Maybe just review the term & conditions...
AskarPerang
post May 21 2018, 09:50 PM

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Council of Elders.
Cut PMO spending, mega-projects to curb ballooning public debt, says economist
Published on 4 Feb 2018
https://www.themalaysianinsight.com/s/36041/
Economist Jomo Kwame Sundaram says there is urgent need for greater transparency and accountability in 'off-budget' infrastructure spending, which is not part of the federal government budget and is thereby unaccountable to Parliament. – The Malaysian Insight file pic, February 4, 2018.

UNCHECKED overspending by the Prime Minister’s Office and disproportionate allocation of development funds have led to the official government debt fast approaching RM700 billion, said a prominent economist.

Former United Nations assistant secretary-general Jomo Kwame Sundaram said there was an urgent need for greater transparency and accountability in “off-budget” infrastructure spending, which is not part of the federal government budget and is thereby unaccountable to Parliament.

“What Malaysia needs now is more appropriate development expenditure, not yet more operating expenditure, especially for the PMO, which has grown more than tenfold and has centralised power like never before," Jomo told The Malaysian Insight in a telephone interview recently.

"Meanwhile, most infrastructure spending is not on the federal budget, and often involves dubious public-private partnerships, further reducing transparency and accountability, as (witnessed in) the recent rush to start the ECRL (East Coast Rail Line)."

Jomo recommended that allocations to the PMO be slashed to lower rising debt.

The PMO was allocated RM17.43 billion in Budget 2018, almost double the RM8.938 billion it received in 2008.

Mega-projects such as the ECRL, Tun Razak Exchange, and Bandar Malaysia should also be scrutinised by an independent bipartisan parliamentary committee chaired by a member of the opposition party, said Jomo.

In the case of the 688km ECRL, should the rail system, which costs RM55 billion, nearly 8% of Malaysia’s public debt, fail to generate the expected level of demand and return on investment, it can put the government highly in debt to China.

"ECRL would never pay for itself. Right now, the estimated government debt is large and it is growing very fast. When you talk about debt, you have to consider both the official debt as well as the government guaranteed debt.

“And because there's no accountability for the government guaranteed debt, there's a lot of room for hanky-panky. There's hardly any reporting and so on."

Jomo said there was also a need to prevent abuse of public-private partnerships, as “ultimately it is the public that bears the costs or the bulk of the risks, while the profits mainly accrue to the private partner".

Jomo, a visiting fellow at the Khazanah Research Institute, has been a vocal critic of the government’s rising operation expenditure, which has grown an average 6% yearly for the last 10 years.

Operations spending grew from RM123.10 billion in 2007 to RM219.91 billion in 2017, exceeding Malaysia’s revenue which grew at an average of 4.9% yearly since 2007, when revenue stood at RM139.9 billion to RM225.34 billion in 2017.

Federal debt during the same period rose 10% annually from RM123 billion in 2007 to RM687.43 billion as at September 2017.

A recent report by The Edge Markets revealed that going by an annual growth rate of 10.7%, Malaysia's debt could reach RM1 trillion by 2021 on excessive spending.

By the same projection, Malaysia's debt could reach RM2 trillion in 2028 and RM3 trillion in 2032.

Funds diverted to service debt

Jomo said high public debt, if left unaddressed long-term, would put the country at risk of default.

"Taking on debt for productive uses is generally desirable. However, much of the recent debt is not being used productively.

“Also, the government should be paying down debt or reducing debt when the economy is growing and incurring debt when there is a slowdown.

"However, for the last 10 years or more, we have just been taking on more and more debt, even when we claim the economy is growing well, which is usually seen as fiscally irresponsible,” he said.

Jomo said servicing the interest for high public debt diverted funds from other sectors, which would benefit the people, such as healthcare or education.

"Apparently that is the case in Malaysia where, allocations to public universities have been cut by more than half in the last two years," he said.

While he acknowledged the need for development expenditure for the economy to progress, Jomo said the funding should be more targeted and “appropriate”.

"They should fund research, for example, to increase the productivity of oil palm by increasing its productive life span to 90 years from the current 25 years."

"Malaysia's most successful industrialisation story is not electronics, which is controlled by foreign companies but palm oil, which is controlled by Malaysia," he said. – February 4, 2018.
http://www.theedgemarkets.com/article/cove...ters-department
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myhouse
post May 28 2018, 07:01 PM

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https://www.thestar.com.my/news/nation/2018...with-singapore/
TSpoilam
post May 28 2018, 10:55 PM

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What's next? MRT3?
nexona88
post May 28 2018, 11:03 PM

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QUOTE(poilam @ May 28 2018, 10:55 PM)
What's next? MRT3?
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that's one confirmed biggrin.gif

because it's cost billions too..

if not mistaken around rm 40bil because it involve a lot of underground portions...
HELLO HELLO
post Jun 1 2018, 12:27 AM

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TRX so lucky sweat.gif

lagi got mrt1 and mrt2 (got another line can reach KLCC very soon, soon not exclusive to LRT only liao) thumbup.gif could be the real booster for whole mrt line.

and only 2 mrt lines can reach the next new signature tower TRX thumbup.gif

This post has been edited by HELLO HELLO: Jun 1 2018, 12:34 AM
Ckmwpy0370
post Jun 1 2018, 09:22 AM

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QUOTE(HELLO HELLO @ Jun 1 2018, 12:27 AM)
TRX so lucky  sweat.gif

lagi got mrt1 and mrt2 (got another line can reach KLCC very soon, soon not exclusive to LRT only liao)  thumbup.gif could be the real booster for whole mrt line.

and only 2 mrt lines can reach the next new signature tower TRX  thumbup.gif
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good for those property value near by to MRT 2 link
Quang1819
post Jun 1 2018, 10:23 AM

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QUOTE(nexona88 @ May 28 2018, 11:03 PM)
that's one confirmed  biggrin.gif

because it's cost billions too..

if not mistaken around rm 40bil because it involve a lot of underground portions...
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Gamuda is going down the drain now lol
SUStikaram
post Jun 1 2018, 10:43 AM

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QUOTE(Quang1819 @ Jun 1 2018, 11:23 AM)
Gamuda is going down the drain now lol
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gamuda still have lost of project on hand. The Penang road reclaim land lrt project. The trans bonea, The MRt2, LRT 3 tunnel

gamuda still have chances to return for the HSR and Mrt 3
nexona88
post Jun 1 2018, 11:14 AM

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QUOTE(Quang1819 @ Jun 1 2018, 10:23 AM)
Gamuda is going down the drain now lol
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Badly effected because they expected to win the projects...
Anyhow.. There's still light end of the tunnel... They got others mega projects going on... The Penang transportation one...
Quang1819
post Jun 1 2018, 11:33 AM

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QUOTE(tikaram @ Jun 1 2018, 10:43 AM)
gamuda still have lost of project on hand.   The Penang road reclaim land lrt  project. The trans bonea, The MRt2, LRT 3 tunnel

gamuda still have chances to return for the HSR and Mrt 3
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Pan Boneo only Sabah's confirmed scrap right?

HSR highly unlikely will be reviewed and continue, jook at the grudges between mamakthir and LHL lol. Only MRT3 got hope for Gamuda for now



QUOTE(nexona88 @ Jun 1 2018, 11:14 AM)
Badly effected because they expected to win the projects...
Anyhow.. There's still light end of the tunnel... They got others mega projects going on... The Penang transportation one...
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They did what, just that its being scrapped. Lets see if they can get part of Penang's LRT laugh.gif

This post has been edited by Quang1819: Jun 1 2018, 11:35 AM
icemanfx
post Jun 1 2018, 11:34 AM

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Many of glc that were forced to lease at trx may withdraw.

SUStikaram
post Jun 1 2018, 10:01 PM

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QUOTE(Quang1819 @ Jun 1 2018, 12:33 PM)
Pan Boneo only Sabah's confirmed scrap right?

HSR highly unlikely will be reviewed and continue, jook at the grudges between mamakthir and LHL lol. Only MRT3 got hope for Gamuda for now
They did what, just that its being scrapped. Lets see if they can get part of Penang's LRT laugh.gif
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No

I mean hsr and mrt3 could return when lge succefully overcome debts issues year 2022 before next election and gamuda still stand a change to beg scrapped big projects.
ryan@chua
post Jun 1 2018, 10:08 PM

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QUOTE(BEANCOUNTER @ May 12 2018, 03:28 PM)
TRX project will halt pending investigation of 1mdb case.

it proven buyers of the land (incl tabung haji and others) assisting the embezzlement of jibby, the deal will be null and void.

chapter 1 in biz contact.

same with buyer of a stolen car. you cant have the possession if the car is obtained illegally by the seller.
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Agreed. Trx will left only mrt interchange. The initial plan of 26building will put on hold to no time
ryan@chua
post Jun 1 2018, 10:26 PM

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QUOTE(HELLO HELLO @ May 12 2018, 12:28 PM)
I wonder will this MERDEKA PNB118 (Warisan Merdeka) project stop???

This area shouldn’t build another highrise building. Should just make a nice garden park Macam Australia kings park. We need more nice park in kl.
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I do hope it will cancel. But already 19floors and the part cost the most usually in piling & basements also finished...
Haissss .. lol
aspartame
post Jun 1 2018, 10:30 PM

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QUOTE(ryan@chua @ Jun 1 2018, 10:08 PM)
Agreed. Trx will left only mrt interchange. The initial plan of 26building will put on hold to no time
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Just as well. If the 26 buildings come into fruition, vacancy rate for offices will shoot through the roof.
Quang1819
post Jun 1 2018, 11:25 PM

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QUOTE(tikaram @ Jun 1 2018, 10:01 PM)
No

I mean hsr and mrt3 could  return when lge succefully overcome debts issues year 2022 before next election and gamuda still stand a change to beg scrapped big projects.
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Well... A lot of studies needed to be made and if the costs still stand at 100B by then it'll take hundreds of years to break even if it's selling at a reasonable price. I personally think it's a lovely project, but the cost is just too ambitious and Malaysia can't afford it for time being and even for future when petroleum is less popular and ban of palm oil deepens
Quang1819
post Jun 1 2018, 11:27 PM

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QUOTE(ryan@chua @ Jun 1 2018, 10:26 PM)
I do hope it will cancel. But already 19floors and the part cost the most usually in piling & basements also finished...
Haissss .. lol
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Just not logical to have this building when they're already building Exchange 106 then some more want Bandar Malaysia
SUStikaram
post Jun 2 2018, 06:21 AM

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Plaza rakyat land wish can turn into public parks.

This post has been edited by tikaram: Jun 2 2018, 06:22 AM

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