Thursday, February 9, 2012

We cannot see the wrongs in cow issue

If I was given a grant or banking facilities to built low cost housing, and I found that cow breeding is more lucrative, and I used the fund to buy cows.

Am I wrong?

Will the bank withdraw my credit line?

Have I comply with the terms and conditions of the grants?

how about the legal implication of my contravention of the objective clause of the company?

How the facilities was granted? is that any undue influence for granting of the facilities? Did the company has experience in low cost housing development? Is that any wrong in granting facilities to company without the core business experience? Is there any non arm length transaction or related parties transaction?

If the cows are all under the names of my father, my mother, my wife and my relatives, not the company's names. What will happen? Will the bank tell me that your are sucking out the company's fund.....for business purpose or for your private family members....

What is the conflict of interest?

What is related party transaction? is it a form of political or commercial corruption?

If all the cows died, who is responsible for the wrong investment? if the cows are all sold for large profit, who will gain from the extra ordinary profits?

Have the investment in cow breeding properly authorized? Have they obtain the consent of the grant giver for investing not for the purpose of the grant?

Is all the extraordinary gains full disclosed and channeled back to the company?

Is the investment speculative risky?

If it is not banking fund, but government monies, people it wrong to go against the purpose of the ultimate grant?.....if it is not your money,you are only a trustee for the government, can you use all the monies at your fancy?...

We may say all is right, all is legal, all is Ok; but is it really OK?

Where is responsible accounting and accountability?

Is the investment and expenses reported fair and reasonable for the core business?

Why when the country need urgently fund for domestic investment , the government fund was channeling out to other country?

Can you still trust them to continue with the money?

If the nation cannot understand the basic and fundamental of the issues... what happen to our society?

Is it stil OK?.....

Penang lang, you understand the cow issue? is more serious than the latest Chicken or KFC(kick, fight, the customer)issue....

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