Thursday, April 28, 2011

If this is not the most brilliant proposal to rip off the tax-payers money, then Paris Hilton is still a virgin

(By financetwitter)
Khairun Bin Zainal Mokhtar, CEO and biggest single shareholder of Tricubes Berhad (KLSE: TCUBES, stock-code 0062) disposed 20,000 shares and transferred 2,000.000 shares to his wife, Zalianna Binti Mohd Zaman Khan, according to the latest changes in shareholders received by Bursa Malaysia on 14 Feb 2011. Effectively Khairun’s direct shares reduced to 38,690,734 or 29.31%. As of now, there’s no filing if his wife has disposed any of the shares transferred to her after the stock skyrocket. If she did, then the whole 1Malaysia email proposal would be most interesting.
To award a RM50 million project to a GN3 financial troubled company was bad enough. To lie and spin the story that it would cost the government and hence the tax-payers absolutely “nothing” to enjoy the un-necessary email facility was an insult to the peoples’ intelligence. To declare now that each email will actually cost RM0.50 each (or less) after much uproar by the netizens is an admission of daylight robbery endorsed by the government of the day.
After the controversial email project exploded, the stock jump more than 400% from about RM0.06 a share to more than RM0.30 a share. The GN3-status Tricubes was targetting 5.4 million subscribers and regardless whether you wish to get the so-called regular confidential secured email or encrypted email, the senders (which in this case are government agencies such as Traffic Police, Inland Revenue Board etc) would still be charged about RM0.50 per email.
 Tricubes Shares Stock Performance
If this is not the most brilliant proposal to rip off the tax-payers money, then Paris Hilton is still a virgin. To begin with, Tricubes doesn’t have to put a single penny upfront on this email project because the company was extremely lucky to have secured initial RM5.3 million funding (more to come?) from Malaysia Venture Capital Management Berhad (MAVCAP), a wholly owned Minister of Finance Inc. company which was allocated RM970 million (that’s public or tax-payers money dude).
How Tricubes arrived at the targetted 5.4 million email subscribers by year-end (2011) is still a mystery. According to TM’s 4Q-2010 financial results, the telekom company has a total of only 1.68 million Streamyx subscribers. However according to Internet World Stats, there’re 16.9 million internet users in June 2010, representing 64.6% of the population. So, could Tricubes’s ingenious email project attracts 30% of the internet users to subscribe to yet another email account, with another 8 months to go?
The major question is what if the response to the email subscription is poor, as reflected by the majority’s objection to such a wasteful project? Would Tricubes or rather the government agencies quietly (and secretly) create your email accounts as if you’ve agreed to subscribe to it and spam your mail-box with emails from government agencies and in the process pay Tricubes RM0.50 for each email? If you think about it, the whole theory of getting government agencies in sending you official emails is rather childish.
If you decline to subscribe the 1Malaysia MyEmail and the police summons can’t reach your mail-box (for example) does that means you don’t have to pay the summons because you can claim you’ve zero knowledge about it? Or it doesn’t matter because you still have summons in the police system database? If so, then the whole chain is back to the square one because the email from government agencies to you is as good as a normal Google, Yahoo or Hotmail email simply because it can’t compel you to act on it.
In other words, if the MyEmail project doesn’t make any differences, why should Tricubes be paid a whopping RM0.50 per email? Tricubes actually doesn’t care whether the Average-Joes agree to subscribe or not because it is dealing directly with its paymaster, the government agencies who are acting as the senders in this project. Once agreements (and there would be many) are signed between hundreds of government agencies and Tricubes, the shareholders of Tricubes can retire very rich indeed.

No comments:


Related Posts with Thumbnails

bangsar south bangsar south bangsar south bangsar south bangsar south couple sex couple sex couple sex couple sex couple sex balcony balcony balcony balcony balcony balcony video video video video video video sex sex sex sex sex sex sex jho low 1mdb jho low 1mdb jho low 1mdb jho low 1mdb jho low 1mdb jho low 1mdb jho low