More abuse of NEP and Little Napoleons at work again

I cannot vouch how accurate this is, nevertheless, it does not surprise me.

Read it and imagine the arrogant and high-handed policies of Malaysian (i.e Malay) policy implementors.

Sent: Tuesday, September 18, 2007 4:58 AM
Subject: Fwd: Fw: NEP - BN POLICY TO BUMI HOUSING DISCOUNT


I am going to relate actually what happen at a meeting Klang Valley housing developers had with Kuala Lumpur City Hall DBKL) on July 31 on the matter of Bumi reserved lots.

All the developers who attended the meeting had already complied with the condition of publishing in the major newspapers the bumiputera units for sale and in addition
we were told to book a space at a designated place for a further campaign to sell the bumi units.

The above exercise does not come cheap. Advertising space in the major papers and rental of space at a major shopping complex can cost us close to RM20,000. Can you imagine our frustration when we were told to repeat the whole exercise when we could not sell the bumi units ?

In exasperation, I told the DBKL officials that even if we were to give a 20 percent discount to the bumis, they would not buy our houses because they were located in Salak South, Sungai Besi, a middle-class enclave of the urban Chinese. Nearby there is a market selling pork and a Chinese school.

The official just said, 'You have to advertise in the papers again and do the campaign at Mid-Valley Megamall again," without any compromise.

We are a small housing developer and the total units built was 40 with the bumi allocation at 12. We had complied with all the stipulated conditions and now after more than a year of waiting, DBKL still does not want to release the bumi units to be sold to the non-bumis.

At the meeting, DBKL dropped a bombshell. If we could not sell the bumi's units, then we would now have to now pay the bumi discount quantum direct to DBKL. In our case, since we gave a 7 percent discount, the quantum for each unit was RM29,400. For the 12 unsold bumi lots, we would have to pay RM352,800 to DBKL. All the developers who attended the meeting protested vehemently at this atrocious policy and refused to pay and the meeting ended without any resolution.

We would like to ask DBKL what rationale is there to give a discount to Bumis who could afford to buy a RM420,000 house? This is clearly an abuse of the NEP. Why should developers and the other races need to bear the cost of implementing their bumiputera ownership policy. It is thoroughly unfair to expect developers to bear the cost of advertising and conducting roadshows in order that Malays buy the houses. The Bumis have millions of ringgit to pay as compensation to divorce first wives, marry 2nd wives in very grand manner.

But no money to buy houses ???

Boleh land

It is exactly these policies that drives business under in Malaysia. No value is added to the chain, instead policy makers constantly have policies that deplete the economy of any value that have been created.
Sound housing developers, profit making enterprises are forced into losses by imposing required freebies which must be dished out to Bumiputras.

It is exactly these Bumiputra policies that are driving business under and acclerating capital flight from Malaysia