Wednesday, December 9, 2009

Told ya

In case there were scepticism about the position taken in the previous post there is a report today where property industry players have made the observation that there is a property overhang. There are other additional factors that warrant some concern over the feasibility and viability of these mega property projects.

This is not about being cynical or, about being negative. It's about material investments in the Malaysian economy that have been vetted by the EPU (no less) and, yet, leaves the average Malaysian with the feeling that excessive risks are being taken.

If entrepreneurs want to burn their money that's their business.

But, where GLCs are involved and, where entrepreneurs have some land-swap deals with the government, then, every Malaysian taxpayer acquires an automatic standing to ask hard questions about mega property deals such as these.

GLCs and entrepreneurs having land-swap deals with the government must evaluate risks carefully since the failure of these projects will impact the rest of Malaysia in many ways.

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