Developer laughs all the way to the bank
I refer to Malaysiakini's report, RM300 mil payout to 'crooked bridge' developer.
We believe that Gerbang Perdana, the developer for the crooked bridge, is now laughing all the way to the bank for the simple fact that had the project be allowed to proceed, they would not have profited so much from it.
Assuming the profit for any project is 20 percent of the total cost the profit from the RM1.1 billion 'crooked bridge' project would only amount to RM220 million. However, in this case, our government is compensating them a hefty RM292 million for the work done, which amounted to RM55 million.
Surely, this is outrageous and at the expense of the taxpayers. Mind you, this is not the end. With the Broga incinerator project, which met with a similar fate, we can expect another round of compensation for the developer. Why is our government making blunders upon blunders?
Why can't they have a detail study of projects before they venture into it? Were all these premeditated to get a fast buck without having to do much?

