Tuesday, July 15, 2008

Snippets - Birthday, Road Transport, Blocks & M.V. Agusta


Posted by Dr. Mahathir Mohamad at www.chedet.com on July 14, 2008 6:15 PM

Birthday

1. I would like to thank everyone for the Birthday Greetings on my 83rd Birthday. It is very heartwarming that so many know about my real birthday and remember to send greetings.

2. My official birthday is 20th December 1925. My father registered that date for all his sons so that there would be no hassles when registering for entry into schools. He was a teacher and knew all about the difficulties.

3. So please do forget my official birthday i.e. December 20. My real birthday make me five months older.


Road Transport

1. The Road Transport Department wants to suspend the permits of express bus operators who increase fares without approval.

2. With petrol prices so high, car-owners are resorting to public transport. We can expect more people than before to travel by bus.

3. If bus operators are suspended then increased demand will be met with decreased supply. I wonder if anyone thought about this. Or will there be a flop after the flip.


Blocks

1. Today the police have set up road blocks to prevent a public rally.

2. I do not blame the police for doing this. It is their job.

3. But thousands of cars would be burning costly fuel as they inch their way forward to pass the block.

4. We need to check not just the passenger cars but also the buses and the trains. They are unusually crowded now. They provide loopholes for determined demonstrators.

5. Talking about transport, I think people should know of a bus company in Kuala Lumpur which charges 9 cents (nine cents) per passenger between Kuala Lumpur and the Low Cost Terminal in KLIA. And it is making profit from this operation. Maybe other bus companies can learn something.


M.V. Agusta

1. Proton bought this Italian motorcycle maker for 70 million Euro (about RM350 million).

2. Its savvy management sold it for 1 Euro (RM5) to an unknown company in Italy.

3. Some months ago Husqvarna, a division of M.V. Agusta which manufactures scrambler sporty off-road motorcycles was sold to a German company, BMW for 90 million Euro (RM450 million). Now the rest of M.V. Agusta has been bought by Harley-Davidson Motor Cycles of the United States for RM350 million.

4. So Proton lost approximately RM800 million selling M.V. Agusta for RM5. The buyer invested one Euro and made 160 million Euro.

5. Do we need a Royal Commission to look into this or should the ACA investigate this matter particularly the role of Credit Suisse who was paid a huge consultancy fee to advise Proton's management who executed it.

6. Or maybe we do not mind losing RM800 million because we have so much money.