I was reading The Malaysian Insider and I saw some interesting comments. I ‘presented’ a similar proposal to Noktah Hitam and Cibol that day 😛 No they were not interested. I am not exactly a crook, trying to take an advantage of the situation and I do not have the money either hehe.. More important is this highlights how lousy our government in making plans and implentations.
Here’s a money-making scheme. Well if I don’t do this, somebody will, eventually.
I’m going to go out and buy 4 more of those RM800 all-but-broken-down 1979 Mazda/Suzuki/Nissan. Then I will buy another 5 for my father (who has a license), 5 for my mother (who has a license), 5 for my handicapped tenant (who will get a license by bribery), and 5 for each of my 2 children, as soon as they are permitted to get a license …
Then we will apply for the subsidies, and we should be getting RM625 for each car from POS. Then we need to pay about RM90 for the discounted road tax. We net RM535 for each car.
Woo wee! That is 67% annual return! (535/800)
Other than my first car, we don’t really drive all the other 23 broken down cars. We have zero fuel cost there. So we have 23 “investment” cars costing us RM18,400 one time cost, and RM12,305 yearly subsidy income less road tax. Just sitting there, making the money from subsidy!
Beats fixed deposit any time. Investment recoup in less than 2 years! What business on earth will give you 67% return every year? Only in Malaysia. Malaysia Boleh again!
May be it’s a Finance Ministry conspiracy to revive the second-hand Proton market.
Now, I only need to find the parking space …
But then I don’t even have to. Junk metals are selling at a good price these days.
This cash subsidies for fuel will give rise to “phantom cars.” This is especially easy later, when the government allows agents to cash the subsidies (without owners having to appear in person) because of the immense workload. This WILL happen, as soon a you realize there will be a few million car owners mobbing the 683 post office.
Even after a 40-year-old car is smashed into junk metal, its “paper-soul” (ownership certificate) will live on forever. The paper will be traded around, for buyers to collect, farm-out, and register in the names of relatives, maids, homeless people, deceased voters, etc.
The main broker then collects government subsidies yearly. It is a legitimate business for Ah Long to enter into. Also for DVD pirates and retired grandpas.
The broker/entrepreneur can also repackage and sell a whole stack of certificates around. Investors will bid up the price until the return falls toward a business-return rate, say 20%, but not as low as the nearly risk-less bank deposit rate.
That means, a RM1,000 old car certificate can probably rise 3x or so to RM3,000 when sold as a stack of ownership certificate. The first-comer broker/entrepreneur will then pocket the capital gain. The late comer collect the steady stream of subsidies. This is an innovation similar to real-estate or credit-card “securitization” that is causing so much trouble in World finance today.
Malaysia will be awash with phantom cars, which do not appear in traffic or car parks. Only in government records. Just like some of our voters.
Same with Selangor water.
If I need to use more water than the basic amount, I’ll just apply for a second tap in my mother’s name. And a third water meter, in my grandfather’s name. And a fourth water meter in my maid’s name.
Then I can use 4x minimum amount! Free.
I can even sell water… to the tourist and restaurant next door …
So I heard Pos Malaysia is making a killing.. Ten percent – 10% service charge for transactions done at their counter? 10% is a lot! Just for the latest hoo haa.. the fuelrebate, 10% out of RM625 is RM62.50 and registered vehicles in Malaysia is around 12-15 million? Well, let us put the estimated number of cars in Malaysia eligible for the fuel rebate at 6 million.
RM62.50 x 6 mil = RM375,000,000. Even just one percent – 1% is a staggering figure of RM37.5 million.
Millions to be collected, just from the petrol rebate ‘exercise’. So, why wait? Go and buy Pos Malaysia shares now 😀
ps: Ehem, I heard RUMOUR that Pos Malaysia is belong to ECM Libra. Question, who owns ECM Libra? 😈
pss: RUMOUR not to be taken seriously 🙂 Rumour is akin to masturbation, it is just for self satisfaction. Nyahahahaha!
psss: Scrap metal now is around RM300- RM400 per tonne now. Go do your own calculation. Find your buyers here. Scrap metal now is around RM300- RM400 per tonne now. Go do your own calculation. Find your buyers here. Malaysia has among the highest scrap metal buyers according to that website!!! No wonder manhole covers, drain gratings or anything metal around us are missing!!