Dumb Dumb Investment on a Tam Tam?
Tricubes chief executive Khairun Zainal Mokhtar told reporters yesterday that the company had borrowed some RM5.3 million from Mavcap to help kick-start the controversial 1 Malaysia e-mail project. He said under the deal, Mavcap, which is controlled by the Minister of Finance Inc, can convert the debt into Tricubes shares.
Malaysia Venture Capital Management Bhd (Mavcap) confirmed today it had invested RM5.5 million in a Tricubes Bhd subsidiary, but it clarified that the money was meant for the development of mobile solutions and not the 1 Malaysia email project.
The clarification from the government fund, started to provide seed money for start-ups with high growth potential, has now raised questions again about Tricubes Berhads finances. The IT company also confirmed Mavcaps clarification in a filing to Bursa Malaysia this evening... Malaysian Insider, 28 April 2011
So even at the financing stage, the company have not been forthright and needed the government to clarify it.
We wonder if this freely charged email scheme was hidden from public's knowledge, the money would have been used precisely for the email project than otherwise, no?
Goes to show that the government via its venture capital arm is still indulging in making deals quiet! What is this boast last time of saying every government ministry is going online as part of the transparency and we got nothing to hide promise.
The fact of this venture given to a listed company that has gotten itself in some 'danger' list shows the government people's brains are having 286 type of thinking model in an age where ordinary kid! s are ha ving Athlon 64 thinking when spending their money, right?
If we accept that MavCap investment is on a technology that has nothing to do with the what many people see it as an e(diotic)Mail scheme to help rescue the company. the investment is valid given the nature of what venture capital is all about. Investing in a venture that will give returns. And in the IT context some revolutionary solution that will become a world's best seller product we can supposed. So it's not a dumb dumb solution that Mavcap has made on Tam Tam, if they saw potential in the IT solution. But we can question if these venture capitalist can really smell a great idea and have the entreprenuerial hunch they have found a gold mine in Tricubes.
When it comes to spending lots of money especially if it's not yours, a good manager or leader will abide by this wise advice, 'Failure is not an option.' In this venture, we must really admire the guts as well as remarkable confidence of our government venture capitalists and government that 'failure can be an option' as long as they dared to spend the millions to find out that they were wrong than to avoid it by doing a more through evaluation or looked at similar alternatives and invest in a viable one, no?
Winston Churchill said, courtesy of Google that popped up this quote which is a FREE search, "Success is not final, failure is not fatal: it is the courage to continue that counts."
Perhaps, our government really meant what it said in its 1Malaysia concept of people first and performance now doing to Tricubes a probably 'rescue their people first' even if they 'don't seem to be performing now', no?
So we must really applaud our brave Mavcap government fellos for their courage to continue to count out the over RM5 million of smart cash and hand it to Tricubes believing they had not made a dumb, dumb investment on a Tam Tam huh?
Would any investor believe a public listed small timer dot.com on the verge of being kicked out of our pride we boast to th! e world, our beloved stock exchange, Bursa Malaysia have created a sure money mill email solution. And that we suddenly develop a mass patriotic feeling that would cause millions of BolehLand netizens to abandon their Hotmails, Googles, Yahoos, RIMs and even streamyxs emails and use only the 1Malaysia Email portal and email account?
They say that only the ignorant, dumb or overtly patriotic people will only see and believe what their leaders tell them, which is often only one viewpoint and one side of the story.
Thank goodness amidst all those propaganda, threats of being labelled unpatriotic with even calls to return to one's motherland as well as the many version of 1Race calls like 1Bumim, 1Melayu, 1MCA, 1MIC and what have you, BolehLand folks who don't want to be intimidated and be pigeonholed as racist, can see more to one side of this 1Malaysia eMail given to Tricubes.
Their worry of the free eMail is some insidious hidden motive to snoop on what the citizens are doing, no? The Tam Tam vc is into solutions that are "involved in sales and marketing, and enforcement software to the police force and local councils."
"Enforcement software" for the police and local councils, smells of some surveillance kind of capabilities, huh? Even if our soon to be very rich dot.com will assure us that the parent and subsidiaries don't mix their work, those in IT know that there will be adaption, incorporation and sharing of solutions! Hey even in a supposedly branded PC and electronic gizmo these days, are filled with many many other branded partsm, right?
So are we at all comforted that the eMail is free and as secure as existing free emails domains from a dot.com that is involved in solutions where 'enforcement' software solution is being peddled to the police, huh? Do we believe their solution to the police will never be used in developing the free eMail? Is it as if they are telling us they are developing video games for the enforcement people but serious FREE eMail for 1Malaysia huh,! we are comforted our private lives are safe in their email domain?
But we must give credit to Tricubes because they are not a dumb and stupid dot.com company that doesn't know how to make money from the government. You tell us it's free but you charge the government 50sen for creating EACH email even if 70% emails you create are for people who have no computers! And this is not the end. For each email activity they would also charge the government because the have to buy hardware to push the emails, give email space to each user and add-ons like any email domain.
So Tricubes really have a brilliant idea that will make them mulit millionaires million times over each day! They should be given the title of e-toll operators for minimal toiling they reap million fold returns, no?
Come to think of it, anyone with a bit of brains, with lots of crony connection and potential failures in the likes of Tricubes can make millions from the government. It's a number game, you charge a nominal sum for repetitive task, and we know how addicted BolehLand fellos are and if we take the number of sms they send a day, we can even divide it by half for the emails they send A DAY, our Tricubes fellos are really laughing all the way to the bank, with Mavcap following behind and all other parties that need their back scratched, no?
Since 1Malaysia has announced another 1 too many 1whatever bright ideas, there is no turning or else the public will think their leader has may wishful thinking grand schemes that will cost millions of taxpayers money to make some people benefit and become rich.
1Malaysia like Tricubes have created a winning formula and sure money making scheme. It doesn't take any brains actually. You just put a 1 in front of any hair brain project you one and you can force corporation to donate reminding them they got to because if they don't then they don't believe in the 1Malaysia concept. So you get the 1Larian, 1Joget, 1Poco Poco, 1MCA, 1MIC and now 1Malaysia Email or 1Email, that wil! l sure g et you money! Ask any company receiving sponsorship requests on such activities with 1 in front of it and they will happily share the many ridiculous activities and names that makes such misuse an amusing affair. Wonder if it reflects the creator the mother of all 1Malaysia concept that has created a runaway uncontrollable obsession to see using a 1 in front is a sure formula of getting 'free money', no? In short cheating right?
There are many sides on a cube. Similarly there are many sides to this Tricubes supposedly free 1Malaysia email where it is correct to be called free because Tricubes is at liberty and free to charge the government for providing what many BolehLand netizens are getting free like emails for one right?
It's really odd why Tricubes choose to lead us to only see one side of a 'cube'. It's like they are encrypting the rest of the issues and enjoying seeing us trying to unravel the 'real deal'. Tribues have shown us only one side or aspect and it isn't convincing and generating growing inconsistencies as well as illogical logic to the whole plan. It's seen as a rescuing a failing dot.com. Are we not troubled and in trouble over the other hidden sides Tricubes is hiding from us?
And if 1Malaysia doesn't feel at all guilty losing millions of ringgit it smacks on arrogance, lack of accountability, shear incompetence and encouraging failures as an option to getting free money and getting rich, the amount depending on the crony relationship, no?
Like the dot.com bubble burst 10 years ago when dot.com ventures reigned supreme and madness followed investors and we know how many got singed, let's hope this Tricubes project don't create a deja vu on taxpayer's money like the dot.com burst, where with the billions and millions of ringgit investors poured into the hyped dot.coms, the only returns they got were the amount that started not from the comma but from the left of the decimal dot which makes ROI on the RM5,500,000.01 venture capital worth only 1sen, right?YAHME H!!!
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