ADUN SPEAKS | LCS project not the first bailout, certainly not the last

ADUN SPEAKS | Will the rescue plan involving the injection of RM4 billion keep the Littoral Combat Ship (LCS) project alive?

There have been countless government financial rescue operations in the past to resuscitate ailing bumiputera companies and individuals.

I am not sure that government financial rescue operations have indeed succeeded in turning around companies.

A major audit exercise in the form of a Royal Commission of Inquiry is yet to be appointed to ascertain the financial and political viability of these government rescue operations.

The financial resuscitation measures undertaken over decades have been shrouded in mystery.

But one thing is sure, the country’s 33 million people have been the sure losers, not the political and financial elite.

Despite our colossal and shameful failures...