Tuesday, March 27, 2012

Umno-led gov't invited Lynas to build. 4X cheaper ok

In an article in The New York Times written by KEITH BRADSHER and published on March 8, 2011, it stated:
Nicholas Curtis, Lynas’s executive chairman, said it would cost four times as much to build and operate such a refinery in Australia, which has much higher labor and construction costs. Australia is also home to an environmentally minded and politically powerful Green party.

Despite the potential hazards, the Malaysian government was eager for investment by Lynas, even offering a 12-year tax holiday. If rare earth prices stay at current lofty levels, the refinery will generate $1.7 billion a year in exports starting late next year, equal to nearly 1 percent of the entire Malaysian economy.


Today, The Malaysian Insider reported the Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili as saying, “They (Lynas Corp) are the investors coming here. We are here to invite investors, of course, we are here to facilitate, but we are not going to work for you. You have to go and get (the permission). You must take (your) waste out of (this) area... It is up to you, I am not going to help you.”


Indeed, Malaysia is a cheap country for Lynas.

It has already saved four times even before building the refinery!

On top of that, it gets to have a 12-year tax holiday! What more can an investor ask for?

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