Wednesday, July 21, 2010

Taib's Shipping Monopoly - Financial Summary

As can be seen here, the shipping monopoly via Achi Jaya Transportation  insisted by Taib Mahmud has produced revenues of  59.4m in 2008 and a profit of  3.9m. Unless we know the breakdown of the cost the true P&L/rent attributable to Taib will be unknown.

Money can be siphoned off from Achi Jaya Transportation via consulting fees, high salaries, high rentals paid to associated companies, management fees etc. So the P&L of 3.9m does not really show how much is actually earned by the individuals involved. Current assets of 21m generally indicate near cash or cash items.So very liquid, likely fees from being the sole shipping agent.

Also note the low capital invested. 0.5m, while the turonover is 59.4m and the audited profit is 3.9m, almost 8 times the capital invested (for 2008 only!) (and cash of 21m on the balance sheet). I wish I could invest in this business and get these kind of returns.

6 comments:

Anonymous said...

God is always fair. He is given the same size of 4X8X8' and no more when he dies.

Anonymous said...

I think we ought to blame ourselves for our difficulties, sometimes. Anyway, a wise Sarawakian will vote for PKR.

Alan Newman said...

Quotes from Free Malaysia Today: Mahathir has also been guilty on a national scale of hijacking the organs of state, doing away with the checks and balances inherent in the legislature, executive and judiciary, dipping his hands into the national cookie jar on behalf of his cronies and to fuel his politics of patronage and institutionalising racism in the country as a national ideology of the ruling elite.
The punishment must fit the crime. In Mahathir’s case, as with Taib, there is no punishment as yet devised for the enormity of their crimes against the state and people, even if they were to be re-born several times over to be punished all over again.

Alan Newman said...

Najib:“I would like to stress here that I have never interfered in MACC’s operations. They are independent and free to carry out their investigations on anyone.” When I read this I fell off my chair and went rolling on the floor laughing.
Your MACC was grilling & murdering Teoh Beng Hock till early morning hours, over some trivial things, when there were and still are crooked ministers whose atrocities are a million times bigger. The whole world is calling for Sarawak Taib's arrest! Involving multi-billions. With letters addressed to Najib & MACC. Mr PM, you just couldn’t care less. Where is your integrity, morality and credibility now? ZERO. So is Mahathir's. Alan Newman, NZ

Alan Newman said...

With 31 yrs of abuse of power, mutli-billion $ plunder of his people, over 10 years of the same by his Uncle before him, the Sarawak CM must be arrested now. His morality, integrity; legitimacy & right to lead are ZERO.
Won elections by dishonest means for decades, some of them:
a)Vote-buying.
b)Deception & stifling of Opposition through state-controlled media.
c) Using public/ resources for logistics, transportation, undue influence, deception, duress, vote-buying and vote- winning.
d)Rigging and vote-tampering and miscounts.
e)Gerrymandering, eg: Putrajaya, 98% Malay, needs only 5,000 votes while Chinese seats like Selayang need more than 120,000 votes!

His total wealth, including those of 400+ companies, is estimated to be US$6b = RM20billion. Despite this monstrous crime & international clamour for Taib’s arrest, Najib, MACC, BN, all pretend…that the theft of RM19billion didn’t occur, the reasons are obvious: They are equally corrupt & evil.
Nothing will be done, unless Arab Spring type pressures are mounted beginning with:
Blockade of all logging & oil palm accesses.
Blockade of all CMS & related’s access & movements.
Work stoppage. Sit-ins in offices, transport hubs & airports.
If the police intimidates.....Good! That’s the beginning of the end of Sarawak’s great tragedy & BN’s stranglehold in Malaysia.

Alan Newman said...

Quotes from Free Malaysia Today: Mahathir has also been guilty on a national scale of hijacking the organs of state, doing away with the checks and balances inherent in the legislature, executive and judiciary, dipping his hands into the national cookie jar on behalf of his cronies and to fuel his politics of patronage and institutionalising racism in the country as a national ideology of the ruling elite.
The punishment must fit the crime. In Mahathir’s case, as with Taib, there is no punishment as yet devised for the enormity of their crimes against the state and people, even if they were to be re-born several times over to be punished all over again.