Since PNB was set up to help the Malays, only they should decide on how they want to invest their funds. Others do not have the locus standi to complain, not until there is an actual need for more funds to bail out when the going gets tough. For crying out loud, we should have waited to 'cross the bridge when we come to it'.
As I have mentioned before, being 100% owned by Malays has its main disadvantage of a limited market and we can easily find agricultural lands, commercial and residential properties in Malay reserved locations priced less than half of those in open markets. Just imagine, the building can be sold only to a Malay or Malay owned corporation, unless the intention is to be owned in perpetuity by PNB, at all costs. Please do so, knowing full well how the market will react to it!
Anyway, it could do a reverse NEP in which 30% of space could be reserved for non-Bumiputeras (which seems like good PR) and they could be 'forced' or rather 'persuaded' to take up the reserved lots. The rentals could be priced with discrimination: higher for non-Malays and much lower for Malays (think bazaars and warongs) to showcase their start-up businesses. Government departments occupying spaces in the building would have to pay more, what with pressure from the top (to take up space and pay recommended rentals).
Many government departments can move their offices within KL to this specific building, at the expense of their existing landlords. There is no need to worry about how they fare anyway.
State governments could be told to have representation in the iconic building too. Royalty of each state too could have a royal penthouse for the occasional 'top of the world' feel. With so many states within the Federation, they could fill up a sizable portion of the tower.
With a bit of arm-twisting by the government, crony-related companies could be told to rent spaces in the building. Naza could easily take up a few floors as showrooms for its exotic range of cars which appeal to successful Malays. Proton and Perodua too must do their national duties.
Government-linked corporations or GLCs must have an office too despite having their own flagship buildings cum head offices.
Fast-food chains like McDonald, Kenny Rogers, KFC, and so on could be persuaded to have at least one franchisee each in the building too. Then our successful homegrown francises like Kopitiam, Marrybrown, Paparich, Secret Recipe and so on, could be roped in as well. The list seems endless. However, embassies are difficult to convince, as shown by their failure to move to Putrajaya despite exhortation, but their out-sourced visa processing units could be housed there for the benefit of Malays who wish to travel abroad.
I started off negatively and with pessimism, but as I go along, I am beginning to be convinced that it could be a success! Thanks to the potential powers of the government in 'coercive persuasion'! But it is not going to be a bed of roses, as Proton had proven over the years, despite strong aid initiatives from the government in terms of high import and excise duties imposed on other makes, conditions attached to car loans of civil servants, insistence as official cars used by ministries and so on.
A lot of efforts (some dubious or questionable ones) have to be put in just to fill up the spaces, and the returns dependent on the rental rates. What comes to mind is the question: is it worth all the trouble just to be one up on others, especially the racial pride?
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As I have mentioned before, being 100% owned by Malays has its main disadvantage of a limited market and we can easily find agricultural lands, commercial and residential properties in Malay reserved locations priced less than half of those in open markets. Just imagine, the building can be sold only to a Malay or Malay owned corporation, unless the intention is to be owned in perpetuity by PNB, at all costs. Please do so, knowing full well how the market will react to it!
Anyway, it could do a reverse NEP in which 30% of space could be reserved for non-Bumiputeras (which seems like good PR) and they could be 'forced' or rather 'persuaded' to take up the reserved lots. The rentals could be priced with discrimination: higher for non-Malays and much lower for Malays (think bazaars and warongs) to showcase their start-up businesses. Government departments occupying spaces in the building would have to pay more, what with pressure from the top (to take up space and pay recommended rentals).
Many government departments can move their offices within KL to this specific building, at the expense of their existing landlords. There is no need to worry about how they fare anyway.
State governments could be told to have representation in the iconic building too. Royalty of each state too could have a royal penthouse for the occasional 'top of the world' feel. With so many states within the Federation, they could fill up a sizable portion of the tower.
With a bit of arm-twisting by the government, crony-related companies could be told to rent spaces in the building. Naza could easily take up a few floors as showrooms for its exotic range of cars which appeal to successful Malays. Proton and Perodua too must do their national duties.
Government-linked corporations or GLCs must have an office too despite having their own flagship buildings cum head offices.
Fast-food chains like McDonald, Kenny Rogers, KFC, and so on could be persuaded to have at least one franchisee each in the building too. Then our successful homegrown francises like Kopitiam, Marrybrown, Paparich, Secret Recipe and so on, could be roped in as well. The list seems endless. However, embassies are difficult to convince, as shown by their failure to move to Putrajaya despite exhortation, but their out-sourced visa processing units could be housed there for the benefit of Malays who wish to travel abroad.
I started off negatively and with pessimism, but as I go along, I am beginning to be convinced that it could be a success! Thanks to the potential powers of the government in 'coercive persuasion'! But it is not going to be a bed of roses, as Proton had proven over the years, despite strong aid initiatives from the government in terms of high import and excise duties imposed on other makes, conditions attached to car loans of civil servants, insistence as official cars used by ministries and so on.
A lot of efforts (some dubious or questionable ones) have to be put in just to fill up the spaces, and the returns dependent on the rental rates. What comes to mind is the question: is it worth all the trouble just to be one up on others, especially the racial pride?
1 comment:
I can read between your lines. Thanks for empathizing the flight of KB Baru folks.
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