Friday, 11 August 2017
No one is objecting to ECRL on political grounds. But, an already over-inflated $26 billion cost has now fradulently become RM55 billion.
Najib is committing blatant criminal fraud to rescue his 1MDB $46 billion fraud. The cost is being passed on to future generations.
This project is not financially or economically viable as the revenue will not cover even interest cost on the inflated $55 billion. ECRL will not break even for next 50-100 years! These are the real issues!
It's a good project, I'm glad it's happening.
As for East Malaysia they don't have the population density to justify a heavy rail project like the ECRL, plus the terrain is too difficult to justify such an investment minus freight traffic.
To make such a Railway pay, requires 80% of revenue from Freight and 20% from passenger.
Passenger on long distance flows almost always runs at a commercial loss, UNLESS, the real estate around it can be utilised.
Finance Minister Najib & MoF could not even pay $2.5 billion to settle 1MDB's debt a few days ago. So, how are they going to pay $$55 billion?
Hussein ABDUL HAMID
Friday, August 11, 2017
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