Greater Scrutiny Needed for UM/PPC-MINT-Glomac Venture
The proposal by the
I am supportive of our universities going into partnership with private entities to develop campus assets, real estate and others. That would conserve the universities’ limited financial and other resources which they could then focus on purely academic matters. Creatively and properly structured, such partnerships would benefit the university and its community, the government and thus the public, as well as the participating private companies. Handled less competently and it would result in the rapacious stripping of valuable public assets to benefit only the lucky few. God knows,
According to the press release, the university would stand to collect at least RM312M, or RM200M plus the profit from the project, whichever is higher. Profit figures are tricky; they can be subjected to highly “creative” accounting. Enron posted record profits the year before it filed for bankruptcy. At the other end, it is the job of smart accountants to “reduce” profits (at least on paper) especially when reporting to tax agencies. A quick and dirty maneuver would be to simply inflate your expenses by paying your executives, consultants and directors outrageous compensations. Another would be to “expense” what otherwise would be capital expenditures; meaning, charging the expense in one year instead of spreading them over many.
Also not stated in the proposal is whether those profits would be a one time payment as when the developers would sell their finished projects, or a steady stream with the developers maintaining and operating their projects. The latter would produce a smaller initial payout but the university would benefit from the steady and predictable stream of income.
One significant financial improvement would be to tie the payments not to profits but to revenues. Top
Yet another improvement would be not to sell but to lease on a long term basis (with renewal options) the land to private developers. Those are valuable pieces of real estate; its value can only go up in land-starved
In subsequent separate statement, UM’s Deputy Vice-Chancellor Amin Jalaludin indicated that the university will maintain ownership (title) of the land. This must mean some sort of lease arrangement. The university owes the public a duty to declare the terms of that lease.
These are but some of the major financial considerations. Others more financially savvy could come up with other creative and innovative financing schemes.
Non Financial Considerations
While financial considerations are important and a major determinant of the viability of the project, an equally if not more crucial consideration is to ensure that such a development and partnership scheme would enhance or further the goals and activities of the universities. Unfortunately on this important point, both the university and developers are curiously silent.
For one, what does the university intend to do with the money it would get? If the funds were to go into the general revenue for running the campus, then the future benefits would be minimal and impact not noticeable. However if the university were to dedicate the new money for specific projects like funding a new center for science research, expanding the library, or making the campus wireless, that would be much more meaningful and the impact more lasting and readily appreciated. With the benefits so tangible and readily appreciated, that would encourage further similar beneficial partnerships.
Similarly with the developer; it is not forthcoming on what it wants to do with the precious property. The company’s development plans should interest the university and the public. If the developer plans for a convention center, then that would be positive as it would complement the university’s goals. The university could use the facility for its convocations and for hosting conferences. The same benefit would accrue to the university with the building of a Research and
On the other hand if the developer plans to build exclusive high-end condominiums, that would not add value to or enhance the university’s goals or benefit its community. For one, none of its professors could afford to buy or live in one of the units. However if it is for modest and affordable flats, that could alleviate the campus housing problem.
So in addition to the financial arrangements, the university must also get a clear commitment from the developer and impose restrictions on the use of the property. These should the minimal factors the university governing board members must deliberate. Anything less and they would not be fulfilling their fiduciary and other responsibilities. Minister of Higher Education Dato Mustapa must ensure these conditions are met before considering the venture.
February 25th, 2008 at 3:28 am
Salam Bro’ M. Bakri Musa,
Dengan izin Tuan Punya Blog.
Kepada para pengunjung Blog yang ingin melihat foto-foto hakmilik peribadi “KEMPEN DIHARI PENAMAAN CALON BAGI PARLIMEN TITIWANGSA, WILAYAH PERSEKUTUAN, KL.” boleh masuk ke blog saya tanpa sekatan.
Pertembungan diantara BA yg diwakili PAS dan BN diwakili pelh UMNO. Pelbagai aksi foto menarik boleh dilihat diblog ini. Dan pihak kami akan terus ‘upload’ foto-foto disekitar kempen pilihanraya ke 12, 2008 dari masa ke semasa. Insha’allah.
Bagi Parlimen Titiwangsa, PAS mecalonkan tokoh muslimat yang dikenali ramai iaitu Dr. Lo’Lo’ Mohd Ghazali 51. Manakala BN, pula diwakili oleh Dato’ Aziz Jamaludin Mohd Tahir 54. Tempat Pencalonan Sekolah MenengaH Aminudin Baki.
Pada hari penamaan calon semalam suasana agak meriah, dan tiada ketegangan berlaku.
Wassalam.
http://theindiestory.blogspot.com
February 25th, 2008 at 8:44 am
inilah negara yg kita mahu
http://kucheng.myminicity.com/
February 25th, 2008 at 9:22 pm
An open letter to Shah Alam voter!
Kepada pengundi-pengundi di Shah Alam yang telah berdaftar dan mempunyai hak untuk mengundi, berfikirlah dengan waras sebelum mengundi. Saya tidak mempunyai hak untuk mengundi tahun ini kerana saya berada di Bali pada Jan/Feb, Pak Lah telah mengumumkan untuk mengadakan pilihanraya dan saya tidak mempunyai kesempatan untuk mendaftarkan diri (Saya akui itu adalah kesilapan saya pada tahun lepas). Saya mendapat tahu bahawa Anwar Ibrahim layak bertanding pada April 2008 dan pilihan raya ini di percepatkan agar beliau tidak dapat bertanding di pilihan raya tahun ini. Jadi hanya inilah yang mampu saya sumbang dan mahu melihat perubahan di bandar Shah Alam.Di bawah ini adalah sebab-sebabanda harus tau kenapa anda perlu melakukan perubahan dan mengundi dengan bijak :
1. Tanah Hutan Simpanan Bukit Cerakah telah di tukar status kepada tanah perumahan sebanyak 30% oleh Khir Toyo padahal tanah hutan simpanan ini harus di kekalkan untuk masa hadapan kita juga dan pemuliharaan sekitar dan saya lihat banyak rumah yang di bina tidak di duduki lagi kerana harga yang mahal dan tidak mampu di miliki oleh penduduk Shah Alam. Kenapa tidak mahu membina rumah kos murah di kawasan industri/kilang yang mana masih ramai yang menyewa rumah di sana dan juga di Kuala Selangor yang mana masih banyak lagi penduduk kampung yang tinggal di rumah yang di perbuat oleh kayu dari membina rumah mewah di Shah Alam yang tidak mampu di miliki oleh penduduknya yang berpendapatan rendah?
2. Shah Alam diisytiharkan sebagai bandaraya pada 10 Oktober 2000 dan saya berharap dapat melihat agar banyak perubahan untuk penduduk dari segi ekonomi, kesihatan, keselamatan, fasilti dan lain-lain. Saya memilih dari aspek kesihatan yang paling penting dalam hidup kita kerana kalau kita tidak sihat kita tidak mampu untuk mencari nafkah dan melakukan sebarang pekerjaan. Apa yang saya berharap kerajaan negeri dapat membina Hospital Awam setelah di naikkan taraf sebagai bandar seperti di Petaling Jaya dan Klang. Kita tidak mampu untuk membayar harga perubatan di Hospital Swasta seperti Selangor Medical Centre dan Darul Ehsan Medical Centre. Kenapa harus kita sebagai bandar Shah Alam yang mempunyai jumlah penduduk melebihi 400,000 orang (syarat-syarat untuk mendapat mengiktirafan bandar dari laman web MBSA) tidak mempunyai Hospital Awam, adakah semua orang Shah Alam kaya? Kenapa susah sangat mahu membina Hospital Awam? Kenapa mudah sekali dibangunkan pusat kesenian di belakang Hotel Grand Bluewave? Adakah kita perlu meminta bantuan dari Tan Sri Syed Mokhtar Albukhary supaya membina hospital di Shah Alam? Tanyalah diri anda selama 8 tahun Shah Alam menjadi bandaraya adakah taraf kesihatan penduduk semakin baik dengan masalah di belenggu denggi dan lain-lain.
3. Sewaktu saya kecil sehingga sekolah menengah kawasan seksyen 2 Shah Alam mempunyai tapak gerai di pinggir jalan dan peniaga makanan secara kecil-kecilan yang telah lama berniaga. Kawasan gerai itu telah dirobohkan dengan idea MBSA untuk membina bangunan baru yang lebih bersih dan selesa tetapi setelah 8 tahun masih lagi seperti dahulu dan gerai yang di pindahkan di hadapan Wet World adalah amat jelik, kotor dan berbau. Kasihan kepada peniaga-peniaga gerai yang tersepit kerana birokrasi kerajaan dan tidak dapat berniaga dengan selesa dan masih menunggu selama 8 tahun untuk mendapat gerai baru.
4. Masih anda ingatkah litar lumba Shah Alam dahulu yang terkenal dengan Mick Doohan dan lain-lain. Selain itu litar di Batu Tiga itu memberi platform untuk mat rempit berlumba pada hujung minggu. Litar tersebut di musnahkan oleh Khir Toyo dan memberi peluang kepada Lebar Daun untuk membina kawasan perumahan baru. Sekarang anda dapat melihat bandar Anggerik ini dipenuhi oleh Mat Rempit setiap malam dan menjadi sesak dan tidak selamat. Kenapa tidak membina litar trek yang baru untuk mereka berlumba dengan kos yang kecil? Saya amat membenci bila melihat dataran Shah Alam dipenuhi oleh mat rempit dan membuat bising sesuka hati. Mereka menjadi begitu kerana tidak mempunyai tempat berlumba yang sah, aah lupakan ajalah tentang Shah Alam kalau anda merasakan Shah Alam tidak memerlukan perubahan……..
Please copy and paste into the message to your friend!
February 25th, 2008 at 10:23 pm
It’s not about trying to out-Islam the opposing party it’s about the people who make up the party. There is nothing wrong with Umno, the party is blameless but the people who represent the party are the culprits. They have too much of the good things that they can’t bear losing them. So they’ll do everything within their power to remain relevant. As long as they are in power they can continue to plunder the country. Do they really care for the rakyat? No not an iota. Must we keep them? No, let’s kick them out for good. Enough is enough.
See how the mainstream media suck up to their masters. Can you believe whatever that’s being shown and reported? Do they take us for fools? I think they do. How naive.
February 26th, 2008 at 3:26 am
majulah negaraku
http://kucheng.myminicity.com/ind
February 26th, 2008 at 9:32 pm
ha! no difference from developers acquiring forest reserve lands, the fact that they are gazetted does not deter them, they are able to do it by connection. Prime sizeable land is hard to come by in klang valley, hence there is pressure on supply side. If need be, I think the best solution for Universiti malaya is to sell land lease , after the lease expire the land is reverted back to MU ,however the lease could be extended back provided they pay re-extension premium, therefore in this scenerio, MU get recurring income though the time-gap is long.