Luqman's musings

  Sabahans are told that recent financial maneuvers are not “bailouts.” Yet when we examine the details — from the RM200 million conversion at SDBank to the RM8 billion diverted from development funds — the real issue is not labels. It is the failure of supervision that allowed institutions to deteriorate and debts to become questionable.   The RM200 Million Conversion The State Government converted RM200 million in deposits into Redeemable Preference Shares (RPS) at SDBank. Critics called it a bailout. In reality, it was a risk management decision to strengthen the Bank’s capital base and avoid exposing the State to RM3 billion in liabilities. LINK

                                                                                                                                  Who is this authority? The LJS “Mysterious Authority” Scandal Publication How are we to trust our present politicians and our opposition politicians if they can’t even find out from Lembaga Juruukur Sabah (LJS) who the “authority” is? Three years after I lodged my complaint about the fabricated “as-built” survey plans at Taman Puncak Vistana Heights , LJS inspected the site in June 2023. Their report remains locked away. Their repeated excuse? It is “awaiting verification from the authority.” When pressed in writing and in perso...

  Tamil comedian Vadivelu once quipped in a film that the government and the opposition shout at each other for the public’s benefit, then retreat behind closed doors to drink and party together. It was meant as satire, but looking at Sabah politics today, one wonders if this is less comedy and more reality.

  Dear readers, It has now been more than three years since I first lodged a formal complaint with the Lembaga Juruukur Sabah (LJS) on 15 December 2022 regarding the allegedly fabricated “ as-built” survey plans for Taman Puncak Vistana (Vistana Heights Phase 1), Iramanis. The plans were submitted by the licensed survey firm Jurukur Terra Firma and accepted by Dewan Bandaraya Kota Kinabalu (DBKK). The core issue remains the unexplained and significant discrepancy between the actual road level and my son Faisal’s house platform — a problem that should have been easily resolved with proper survey data.