What we give , we can take back !!!

Everything that got to do with the good thing about Malay can be linked in one way or another to , Dasar Ekonomi Baru (DEB) . Being a Malay , being a son of ex-banker , and staff of national industry player , I sometime attend so-called CORPORATE funcions or mix with so-called BUSINESS-men (who actually not sell , but just Malay rent-seekers) . This industry and malay community represents an example of "What we give , we can takeback!" . Almost all players in this industry are beneficiaries or sometimes VICTIMs of "What we give we can take back!" .

In the business of power generation ,only few malay are the owner , but probably none ( I think) . A famous state conglomerate , Johor Corp , they introduced thing like Intrapreneur concept , some choosen malay are given business to handle deal that originally handled by state owned companies . No need to find to struggle to find new market , no need to breakthrough to sell . Just untung atas angin , and of course , the Johor corp can take back the contract , the right anytime . They held many dinners and seminars . At these dinners , the table talk is seldomly about the business , the engineering , the gas supply issue , or technology in power generation industry .Why ? This is just another common sense . If you are not the real owner or real player , and your money comes from "What we give , we can take back!" , you dont really need to talk shop . You need not know your business very well at all . The front and back end of your business are already signed and sealed - all you need to do is just collect the in-between your revenue and cost - in what we usually call as PROFIT . But once , when I sit beside a young chinese executive , all he talked about is business , and the real issues - about power output from different gas turbines and gas supply issues that affect his business .

To get back to subject , the politic of "What we give , we can take back !" has resulted in corporate malay and contractors , not developing enough sense of propriety over the asset their control . It is given to them on silver plate . They dont earn . And also dont forget , it can also be taken away from them anytime . That's why there is no need to talk shop in dinners .

Some smart people do take advantage of this "What we give , we can take back!" policy . A certain association of women entrepreneurs , sometimes organize lunches and dinners for its members . But it may cost alot just to attend those functions . Why their food so damn expensive ? Why alot people come even the food are expensive ? The menu are not that great . The attractions are ministers and VIP who are going to attend them . If the VIP are from authorities that greatly involve in "What we give , we can take back!" business , then the result can be very big .

Entrepreneurs who depend on the Government for loan , but also sell their good and services back to government , and those who hunt only government contracts and projects frequently run into mess . The are rarely go to the market to find solution for their problems . The are not trained to adjust and to think , as normal market oriented businesses usually do . The problems and solutions only lies in the government . Sometimes they didnt get projects or contracts . Sometimes they didnt get enough money from the government . Sometimes they sell their good and services to government , but are not paid enough and on time . So they will pay for the dinner or lunches just to meet or pose a question to the VIP , hoping that their money problem will be solved . The front and back of their businesses are taken care of by government . "What we give , we can take back !" . Other academics , intellectuals , and critics have used the term "RENTAL ECONOMY" to call this lazy polizy . The one gain benefit from the system are called RENTAL SEEKERs .

If we look at Malaysia's well-known non malay bilionaires like Vincent Tan , Lim Goh Tong , Ananda Krishnan and Yeoh family (YTL) , they are all actually beneficiaries of RENTAL ECONOMY too . Vincent Tan's fortune comes from sole franchise license on his Sports Toto . This is obvious monopoly because no other such license will ever be issueds . Monopoly on gaming and gambling (what is the difference?) also what made billions for Lim Goh Tong's Genting casino . Ananda Krishnan made his fortune through monopoly is horse gambling , then monopoly on ASTRO .

The Kuok family made fortune when they control monopoly over sugar . Such RENTAL ECONOMY gave them initial millions to be used in later monopoly . YTL Group were also successful without fair competition . Among the independent power providers , everyone in Malaysia already knows YTL got the juiciest deal from government through TNB . TNB @ government pays highest tariff to YTL . YTL's monopoly over high tariff is YTL's money spinner . It is unlikely TNB will enter any of such deal anymore , or at least revise them .

But if you are not within the right circles , then you may become a case of "I cant get anything !" .