Wednesday, 6 June 2012

100 Storey Building of PNB - The Provocation by Chinese Capitalists


If Temasik or any other private corporations like YTL etc can own Bukit Bintang or any KL area and make buildings and then make billions out of it, why can’t PNB do the same and own some strategic parcels of Kuala Lumpur land and make some money out of it? Since that the “rakyat” or average Joes like us basically own some of PNB through dividens / minority stakes, PNB SHOULDN’T make just one 100 storey building in KL, they should make 10!!

THEY SHOULD START THINKING OF OWNING PRIME AREAS LIKE KUALA LUMPUR MINIMUM half of it, so people like us the average Joes could have some tastes of the real estates profits in Kuala Lumpur not just for the rich / capitalists individuals like YTL and etc.

Lim Kit Siang made a petition about PNB involvement in big investments in Kuala Lumpur. We should make a petition too to Lim Kit Siang. The petition will sound like this : Why corporation like Temasik, YTL,Mah Sing etc are allowed to make profits from Kuala Lumpur Real Estates but PNB can’t?

For me, people who don’t want PNB to make real estates investment in large scale in KL, only to keep interest of the capitalist individual like YTL, Mah Sing, Temasik and others so that PNB couldn’t compete with them and earn profit as them.

It is not just about the Chinese. It is about the rich guys who controlled the KL real estates and PNB which comprises of average Joes like us who hold stakes through Amanah Saham. Most of PNB stakes holders are owned through Amanah Saham which are mostly comprised of middle and lower class Malaysians which comprise of all races. The situation is more like the rich guys doesn’t like us, the middle and lower class citizens who are united through stakes in Amanah Saham in PNB competing with them in real estates investment in KL.

Some guys created this rhetorics in order to make this PNB high investments in KL are wrong in the eyes of the citizens, so therefore to make PNB back put from their investment. Therefore, that precious land in KL shall be available for those unscrupulous rich individuals to make money out of it. Sometimes, we citizens should open up our eyes and see this in different perspective and questions, why other corporations are allowed to make billions out of it, but PNB not?

Why only this time PNB Fund Managers pop up the idea of big investment in KL the 100 storey building? Temasik, YTL and others made billions already! PNB should have made this big investment 20 years ago! If they made it 20 years ago, we as “rakyat” which have KWSP and Amanah Saham could earn more money already!

PNB need to stop being so conservative in their investment and maintain the policy “WAIT AND SEE” while others made billions like investments in real estates on prime land like Kuala Lumpur. By now, they should have / own or operate at least 2 of the 100 storey towers, not just start to plan or building 1. Hussle up PNB Fund Managers, don’t be slow!

I said 20 years ago they should have made this type of investments, why? Because the land bank still cheaper, materials of good still cheaper and many more still cheaper. If they build it 20 years ago, you know how much its going to worth? And how much we as stake holders going to earn? I don’t say they have to build simultaneously, but in the span of 20 years, they should have own / operate at least 2 units of 100 storey buildings already.

You see, don’t you think these Fund Managers in PNB didn’t saw it while others making billions in front of their face? Example they got one investments in KL prime areas which called the Darby Park, they can see around them Kuwait Finance house, YTL, K Avenue pops up like crazy and they made a lot of money in front of them. For that long years, those Fund Managers didn’t make any move. Did you know that penthouse in K Avenue which worth RM18 million per unit all of them are sold out?

They just made the move currently when they saw others made billions out of it, and they make the move when the price of construction materials and land banks are quite high. That’s not smart.

Personally for me, I understand that our GLC’s are not that clean and sometime can be plague by scandals. It is not impossible some of the Fund Managers who knew about the potential didn’t submit the reports to higher officials in order to make decisions, but they sold the proposals to someone else or private companies.

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