Billions To Create Equity?
The RM1b Bumi property fund has a noble aim to increase Bumiputera ownership of prime commercial properties.
The sell point is you buy some units of unit trusts and you are on the road to high income society and wealth? This will also ultimately create equity now for ownership of retail property and reduce the wealth gap between the bumiputera and the non bumis?
Some may argue that it hardly scratches the wealth of non bumis owning real property or real property equities. Though there are no statistics to show non bumis hold billions in real property, 1Malaysia gives the impression that there is inequality in wealth ownership in the property sector.
There seem this great need to equate equity in terms of wealth measurement, owning tangible things, from property to flashy cars one suppose or how expensive stuff are in non bumis home compared to bumis home or where non bumis go on holiday and perhaps how many pets they own or how frequent they eat out as well as where they sent their children for their education!
It's looking at equity akin to the saying 'what the jones have or having what the jones have'. In BolehLand's case what ah kow has, ahmand must equally have if not even more. The difference is most likely ah kow got his through his own sweat, blood and taking lots of risks and doing it alone, at most ah kows don't have the luxury of given preferences, or assured of rights and privileges for many things in life in BolehLand.
So 1 billion ringgit of taxpayer's money is justified becoz 1Malaysia gives the impression that the bumis don't own that much property than the non bumis. The latest fund is meant to help Bumiputeras own a stake in prime real estate.
If Bumiputeras walk around the city and if they look up and see skyscrapers and if they feel high value buildings are not owned by them, for sure this will make them feel discontented and uneasy, he said at the launch.
Discontented and uneasy? Who? The rich UMNOputras or the poor non UMNO bumi membe! rs? How did such an assumption that ordinary non bumis own a majority of real property wealth? From his walkabout?
Property development is controlled by those who got favour during the Mahathir's regime whether non bumi families or partnerhips or fully bumi companies. Some non bumi property developers have started as family and gone on to be successful. There are also successful bumi property developers. However as an investor, based on personal experience you get more returns investing in non bumi controlled listed property counters than the bumi ones even those construction and contractors portfolio. It is not that these bumi contractors do not have support? Why is it that their business model don't seem to get them more returns than the others?
But looking at all the high rise concrete jungle, does it tell that non bumis own real property more than bumis? I don't own any property save my own home. Why equate a few non bumis property owners who are filthy rich as reflective of the general non bumi owndership of property. Does their wealth make the non bumis any wealthier?
There are equally successful filthy rich bumis property developers who earn more than ordinary bumis and non bumis. Do their wealth make the bumis any wealthier?
It is not that there are not enough bumi developers. If bumi and non bumi developers were all 'supported' with the bumi given more attention and privileges, why pick on the successful non bumi companies and be silent with the successful bumi ones?
Why is there so much uneasiness and discomfort and uneasiness akin to feeling jealous and envious of others successes especially if they achieved it without any support or privileges or favour?
Is the new fund also suggesting that more non bumis are investing in property related equities? Noone is preventing anyone from choosing any equities listed. In fact, non bumis have been given billions over in share preference and the government has confessed that only a few percentage have been retained by ! the bumi s?
Why is it ok for others to take risks and then reap the fruits of their risks and others have the privilege of not even lifting a finger to take any risk and feel envious and uneasy. Take the easy way out by buying over from others huh?
On one hand 1Malaysia brings out the excuse of feeling uneasy and discontent and in the next breath trie to pacify these who took the risk and reaped the harvest.
At the same time we do not want to deny the rights of the non-Bumiputeras to keep investing and achieve their ambitions in business and the economy.
Isnt it a subtle way of telling others, go on build, take all the risks, do all the dirty work and when it is completed we will take it over and let me have it by using taxpayers money to buy over them!
Is the new fund really to pacify the discontented and uneasy fellos or an ulterior agenda to keep giving handouts for one's own political survival?
Why is it that others are willing to take the risks, save their money and invest in property and some cant? Should we feel envious and uneasy with someone who dont get the discount to buy a home, need to improve himself, often beg and borrow from relatives taking risks to educate himself and work even harder becoz the job he is aiming for is based on meritocracy and not given on a platter. And he saves, does his research, take risks and invests to grow his wealth, again without any special quotas but in the open market competing among a smaller and often wealthier group, yet he succeeds and even buy another property perhaps. How does such self motivated action or rather why should it cause discontent and uneasiness to other?
Is the government going into owning real estate property? Or only the prime ones? Is this the way to enable the bumis to own property beyond their first home? There are many who cant even afford a decent home or one in the city becoz it is beyond their means. Is it not better for these without homes to own their own property than to buy such unit ! trusts? Even if those have their own property, why should they be given exclusive privilege and an easier way to own property?
The government has recently said that real estate prices have only marginally increase over the years? One isnt sure what property they are talking about. Low cost homes or squatters? A reporter just that day was lamenting the price of houses in Subang was only RM300k two years back and today it has surpassed RM500k and one wonders how the government can claim homes have only marginally increased less than 4%!
If property hasnt increased, how will the new fund make money to pay above FD rates? If they plan to buy all those high end property that the bumis feel discontented and uneasy, will it ensure that they will get a high return?
If the fund is to enable the bumis to get rich via earning high end property, why not get the bumi companies to build them than for privately owned companies and non bumi developers to take the risk to build them? That way the non bumis developers cant be blame for causing the bumis not to own property to increase their wealth right?
As long as you know you are going to be given first choice or rather only choice to the good things in life, do you think you will want to make any effort to take risks?
Unit trusts are for those who do not want to take the risk in owning a piece of whatever the fund is investing in. It doesnt mean your returns are guaranteed. Ive invested for more than two decades and keeping unit trusts valued at RM1 when offered is now the price of a packet of tissue paper.
One can argue that since it is a government linked unit trust, it cannot fail or else it will impoverish those who took the easy way out and in the process the political party that initiated it stands to lose political power. So it would be interesting to see how such REIT type of unit trust funds will fare given that Reits arent giving the promised return.
This latest fund was announced with much fanfare as were the other f! unds. Le ts hope it will reduce the discontentment and uneasiness of the bumis thinking non bumis are taking all the risk to own real property since investors will feel proud they now have control and own all the expensive high end property.
And will we see non bumi owners selling off their property and make some hefty gains in the process? That may not be wise because if they sold their property to the fund and if the property hits a bubble and investors returns are minuscule or worse a loss, the non bumis will also be blamed by those discontented and uneasy investors, no?
So what will be the next type of economic activity or business that if according to 1Malaysia if the bumis look up or down and see the business and if they feel that business or economic activity is not owned by them, for sure this will make them feel discontented and uneasy?
Kinda difficult to name as they are really very few activities that are owned by non bumis who form the minority. Even if the non bumis own numerically fewer numbers of any activity but make more money, they will feel uneasy because there are those who will feel discontented and discomfort and feel because they are a majority it is not fair that the minority make more money!!!
It seems if minorities make more money because they take all the risks and use their own blood sweat and tears, they will somehow create discontentment and uneasiness with those who do not want or choose to take risk simply because they know they have their ketuanan to fall back on to take the easy way out and be given things on a silver platter.
The prime minister maintained that the non-Bumiputera stake in the economy was at a high level although the question of what percentage of the economy was owned by which races has never been definitively resolved and has sometimes resulted in heightened political tension.If you assess the ownership of property in Greater Kuala Lumpur, for sure the figures will show the actual situation, said Najib.
It is always! easy to pick on the economic activities or business of the non bumis and only use the wealth criteria to argue that they own more wealth and justify channelling more billions of money to those who are supposedly having less wealth.
But do you create wealth by giving handouts? Again, why should those who take the risks, use their own resources and create their own wealth be unfairly singled out as causing discontentment and uneasiness to those who do not want to take risks or make an effort to get resources to venture in whatever the business is?
It is time we do not to use the wealth criteria to justify setting up billion ringgit funds or handouts to this or that group. Because those who created their own wealth started at ground zero or with nothing but their own determination. They should be praised for succeeding and loyal because they succeed even with no or minimal help or preferential treatment or handouts to help them.
By all means, set up the fund but dont use other races as a preteaxt to doing things where the ulterior motive is to gain political power from the majority group while trying to pacify the non-minority, can or not? The non bumis are really tired of being manipulated and used as a pretext to justify more billions of ringgit to be used to set up this fund or give it away to bring about equity so you don't get discontentment and uneasiness.
The perpetuation of rights and privileges in BolehLand is as much becoz of Article 153 and the non bumis. Becoz the non bumis seem to succeed and in the process create more wealth for themselves thus widening the equity gap, there is more reason and justification to expand the rights and privielges.
Le'ts assume one day, say tomorrow, the non bumis wake up and decide they don't want to work that hard or make that much money and decide to lower their wealth to that of the other races, wonder what those ketuanan defenders will do or who they will use to justify setting up billions of ringgit funds or giving out even more billi! ons of r inggit or ensure handouts are perpetuated if there is no gap in wealth or ownership equity, huh?YAHMEH!!!
See What Pakatan Rakyat Gotta Say?
The sell point is you buy some units of unit trusts and you are on the road to high income society and wealth? This will also ultimately create equity now for ownership of retail property and reduce the wealth gap between the bumiputera and the non bumis?
Some may argue that it hardly scratches the wealth of non bumis owning real property or real property equities. Though there are no statistics to show non bumis hold billions in real property, 1Malaysia gives the impression that there is inequality in wealth ownership in the property sector.
There seem this great need to equate equity in terms of wealth measurement, owning tangible things, from property to flashy cars one suppose or how expensive stuff are in non bumis home compared to bumis home or where non bumis go on holiday and perhaps how many pets they own or how frequent they eat out as well as where they sent their children for their education!
It's looking at equity akin to the saying 'what the jones have or having what the jones have'. In BolehLand's case what ah kow has, ahmand must equally have if not even more. The difference is most likely ah kow got his through his own sweat, blood and taking lots of risks and doing it alone, at most ah kows don't have the luxury of given preferences, or assured of rights and privileges for many things in life in BolehLand.
So 1 billion ringgit of taxpayer's money is justified becoz 1Malaysia gives the impression that the bumis don't own that much property than the non bumis. The latest fund is meant to help Bumiputeras own a stake in prime real estate.
If Bumiputeras walk around the city and if they look up and see skyscrapers and if they feel high value buildings are not owned by them, for sure this will make them feel discontented and uneasy, he said at the launch.
Discontented and uneasy? Who? The rich UMNOputras or the poor non UMNO bumi membe! rs? How did such an assumption that ordinary non bumis own a majority of real property wealth? From his walkabout?
Property development is controlled by those who got favour during the Mahathir's regime whether non bumi families or partnerhips or fully bumi companies. Some non bumi property developers have started as family and gone on to be successful. There are also successful bumi property developers. However as an investor, based on personal experience you get more returns investing in non bumi controlled listed property counters than the bumi ones even those construction and contractors portfolio. It is not that these bumi contractors do not have support? Why is it that their business model don't seem to get them more returns than the others?
But looking at all the high rise concrete jungle, does it tell that non bumis own real property more than bumis? I don't own any property save my own home. Why equate a few non bumis property owners who are filthy rich as reflective of the general non bumi owndership of property. Does their wealth make the non bumis any wealthier?
There are equally successful filthy rich bumis property developers who earn more than ordinary bumis and non bumis. Do their wealth make the bumis any wealthier?
It is not that there are not enough bumi developers. If bumi and non bumi developers were all 'supported' with the bumi given more attention and privileges, why pick on the successful non bumi companies and be silent with the successful bumi ones?
Why is there so much uneasiness and discomfort and uneasiness akin to feeling jealous and envious of others successes especially if they achieved it without any support or privileges or favour?
Is the new fund also suggesting that more non bumis are investing in property related equities? Noone is preventing anyone from choosing any equities listed. In fact, non bumis have been given billions over in share preference and the government has confessed that only a few percentage have been retained by ! the bumi s?
Why is it ok for others to take risks and then reap the fruits of their risks and others have the privilege of not even lifting a finger to take any risk and feel envious and uneasy. Take the easy way out by buying over from others huh?
On one hand 1Malaysia brings out the excuse of feeling uneasy and discontent and in the next breath trie to pacify these who took the risk and reaped the harvest.
At the same time we do not want to deny the rights of the non-Bumiputeras to keep investing and achieve their ambitions in business and the economy.
Isnt it a subtle way of telling others, go on build, take all the risks, do all the dirty work and when it is completed we will take it over and let me have it by using taxpayers money to buy over them!
Is the new fund really to pacify the discontented and uneasy fellos or an ulterior agenda to keep giving handouts for one's own political survival?
Why is it that others are willing to take the risks, save their money and invest in property and some cant? Should we feel envious and uneasy with someone who dont get the discount to buy a home, need to improve himself, often beg and borrow from relatives taking risks to educate himself and work even harder becoz the job he is aiming for is based on meritocracy and not given on a platter. And he saves, does his research, take risks and invests to grow his wealth, again without any special quotas but in the open market competing among a smaller and often wealthier group, yet he succeeds and even buy another property perhaps. How does such self motivated action or rather why should it cause discontent and uneasiness to other?
Is the government going into owning real estate property? Or only the prime ones? Is this the way to enable the bumis to own property beyond their first home? There are many who cant even afford a decent home or one in the city becoz it is beyond their means. Is it not better for these without homes to own their own property than to buy such unit ! trusts? Even if those have their own property, why should they be given exclusive privilege and an easier way to own property?
The government has recently said that real estate prices have only marginally increase over the years? One isnt sure what property they are talking about. Low cost homes or squatters? A reporter just that day was lamenting the price of houses in Subang was only RM300k two years back and today it has surpassed RM500k and one wonders how the government can claim homes have only marginally increased less than 4%!
If property hasnt increased, how will the new fund make money to pay above FD rates? If they plan to buy all those high end property that the bumis feel discontented and uneasy, will it ensure that they will get a high return?
If the fund is to enable the bumis to get rich via earning high end property, why not get the bumi companies to build them than for privately owned companies and non bumi developers to take the risk to build them? That way the non bumis developers cant be blame for causing the bumis not to own property to increase their wealth right?
As long as you know you are going to be given first choice or rather only choice to the good things in life, do you think you will want to make any effort to take risks?
Unit trusts are for those who do not want to take the risk in owning a piece of whatever the fund is investing in. It doesnt mean your returns are guaranteed. Ive invested for more than two decades and keeping unit trusts valued at RM1 when offered is now the price of a packet of tissue paper.
One can argue that since it is a government linked unit trust, it cannot fail or else it will impoverish those who took the easy way out and in the process the political party that initiated it stands to lose political power. So it would be interesting to see how such REIT type of unit trust funds will fare given that Reits arent giving the promised return.
This latest fund was announced with much fanfare as were the other f! unds. Le ts hope it will reduce the discontentment and uneasiness of the bumis thinking non bumis are taking all the risk to own real property since investors will feel proud they now have control and own all the expensive high end property.
And will we see non bumi owners selling off their property and make some hefty gains in the process? That may not be wise because if they sold their property to the fund and if the property hits a bubble and investors returns are minuscule or worse a loss, the non bumis will also be blamed by those discontented and uneasy investors, no?
So what will be the next type of economic activity or business that if according to 1Malaysia if the bumis look up or down and see the business and if they feel that business or economic activity is not owned by them, for sure this will make them feel discontented and uneasy?
Kinda difficult to name as they are really very few activities that are owned by non bumis who form the minority. Even if the non bumis own numerically fewer numbers of any activity but make more money, they will feel uneasy because there are those who will feel discontented and discomfort and feel because they are a majority it is not fair that the minority make more money!!!
It seems if minorities make more money because they take all the risks and use their own blood sweat and tears, they will somehow create discontentment and uneasiness with those who do not want or choose to take risk simply because they know they have their ketuanan to fall back on to take the easy way out and be given things on a silver platter.
The prime minister maintained that the non-Bumiputera stake in the economy was at a high level although the question of what percentage of the economy was owned by which races has never been definitively resolved and has sometimes resulted in heightened political tension.If you assess the ownership of property in Greater Kuala Lumpur, for sure the figures will show the actual situation, said Najib.
It is always! easy to pick on the economic activities or business of the non bumis and only use the wealth criteria to argue that they own more wealth and justify channelling more billions of money to those who are supposedly having less wealth.
But do you create wealth by giving handouts? Again, why should those who take the risks, use their own resources and create their own wealth be unfairly singled out as causing discontentment and uneasiness to those who do not want to take risks or make an effort to get resources to venture in whatever the business is?
It is time we do not to use the wealth criteria to justify setting up billion ringgit funds or handouts to this or that group. Because those who created their own wealth started at ground zero or with nothing but their own determination. They should be praised for succeeding and loyal because they succeed even with no or minimal help or preferential treatment or handouts to help them.
By all means, set up the fund but dont use other races as a preteaxt to doing things where the ulterior motive is to gain political power from the majority group while trying to pacify the non-minority, can or not? The non bumis are really tired of being manipulated and used as a pretext to justify more billions of ringgit to be used to set up this fund or give it away to bring about equity so you don't get discontentment and uneasiness.
The perpetuation of rights and privileges in BolehLand is as much becoz of Article 153 and the non bumis. Becoz the non bumis seem to succeed and in the process create more wealth for themselves thus widening the equity gap, there is more reason and justification to expand the rights and privielges.
Le'ts assume one day, say tomorrow, the non bumis wake up and decide they don't want to work that hard or make that much money and decide to lower their wealth to that of the other races, wonder what those ketuanan defenders will do or who they will use to justify setting up billions of ringgit funds or giving out even more billi! ons of r inggit or ensure handouts are perpetuated if there is no gap in wealth or ownership equity, huh?YAHMEH!!!
See What Pakatan Rakyat Gotta Say?
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