Equine Capital has informed Bursa Malaysia of the following:
On 22 August, Equine’s associate company, Abad Naluri, the developer of the Penang Global City Centre, received a letter from the Penang Municipal Council (MPPP) dated 18 August 2008 advising the company that its proposed development plans for the Penang Global City Centre Project had been rejected.
Abad Naluri is currently in the process of appealing the MPPP’s decision, addressing the various points and concerns raised by the MPPP.
Gosh, they don’t give up, do they? Hello, it’s supposed to be dead and buried, remember?
Antares has this timely reminder for us:
At this juncture of Malaysia’s evolution, we must revise all the nonsensical and deleterious unwisdom that was pumped into us by the school system, mass media, and government propaganda – and turn away from greed-driven “devilopment.” This is the return path to wholeness and harmony where we value LIFE ITSELF beyond the abstract notion of monetary “profit” (which usually benefits only a tiny elite of politically connected towkays).
This is a complex subject, but I just wanted to use this opportunity – now that we have sincere people at the helm in Penang, Selangor, Perak, Kelantan, KUala Lumpur, and Kedah (and within a matter of days, at most weeks, a brand new uncorrupt federal government) – to remind people that the problem lies with our putting the cart of economic expediency before the horse of ethical and aesthetic maturity, having been taught for generations to look down the wrong end of the telescope at reality.
Related posts:
Anil how to hundreds of millions invovled and knowing patrick he will never let it go …
Complain about this comment
Like or Dislike:
0 
0
this is a classic example of the old chinese maxim “see wealth turn to water” for Patrick Lim…..
so near yet so far…………….hehehe.
Complain about this comment
Like or Dislike:
0 
0
Its sometime difficult to understand greed, Anil. This is one clear case. Every single living soul on this island is against this project and yet these people will not respect that. Its GREED alright, nothing else.
They forget when the boulder dropped on a passing BMW. They don’t get it why a helicopter blade hit the head of a colleague. These are all tell tale signs thats things are wrong – why do people fight against the power of nature?
Complain about this comment
Like or Dislike:
0 
0
Dear Anil,
The conundrum we malaysians we face is that we’re damned if we do and damned if we don’t in the face of expressing our views. And, we’re just talking about intellectual discourses, mind you.
But then; absolute morons who bask in the wealth “stolen” from the rakyat at large in the name of ketuanan melayu … what else can one expect from them. Just sheer rubbish, nary of any intellect.
And, what do we do….. laugh amidst severest woe or DO something about it?
Complain about this comment
Like or Dislike:
0 
0
Dear Anil
I could as well ask you the same question?
“Gosh you don’t give up do you?”
Enough already on PGCC. Go find another cause.
Complain about this comment
Like or Dislike:
0 
0
Dear Anil,
Heard from the corporate grapevines that the shareholding of Abad has changed hands to a tycoon from KL who owned a big shopping complex in KL city.Thats why they are appealing again. Patrick is no longer in charge. The same tycoon is also rumoured to have taken over Equine.Few sources also confirmed such arrangement.
Complain about this comment
Like or Dislike:
0 
0
Hahaha… no wonder Ahmad is upset. They (ahmad, dolah and others) seeing their money gone! Let them fight. That’s UMNO/BN.
Complain about this comment
Like or Dislike:
0 
0
With all the wealth they are amassing, the highest status these people can ever hope to achieve is being nouveau riche. This usually means surrounding yourself with labels and brands and hoping that the more you pay, the less your inadequacies will show up, like lack of general knowledge, of breeding, taste and social etiquette.
Unfortunately, these qualities cannot be bought wholesale. Even if you pay to learn, it takes effort to acquire them.
Some think that by dressing themselves up from head to toe in Gucci, they represent class.
How about a walking billboard? Not only are you advertising for them for free, you’re stupid enough to pay to do it.
Complain about this comment
Like or Dislike:
0 
0
Can anyone please tell me, PGCC was sold to who?
Complain about this comment
Like or Dislike:
0 
0
Dear Anil,
I will agree to a balance development, Penang need it to progress. It irrational to pour cold water over it to said that the project is dead.
How will the hundred of small contractors survive if we have this anti-development mentality.
Complain about this comment
Like or Dislike:
0 
0
You have to appeal. Then hope that there is a change in govt and hey presto … every thing’s in place again. Semua OK.
Complain about this comment
Like or Dislike:
0 
0
Is it some type of trade-off— If LGE approves Abad Naluri to develop the Penang Global City Centre, then KL would release federal funds for the Penang Hill funicular railway, PORR ect?
Complain about this comment
Like or Dislike:
0 
0
A whole lot of chatter, some reasonable, others downright boorish. However as a Penangite who has had just about enough of the rape of the island (especially) by every bloody politician and politically linked high flying tycoons who have no interest or care for the island, I will be the first to supoort you when we sayENOUGH IS ENOUGH. Just look at the destruction of property caused by the floods the past week. Don’t be so bloody naive to say that all the floods, land slips and rockfalls aree an act of nature. Act of nature my a**, you mean!!!
What has been happening is the result of greed of politicians and their greedy financeers (behind the scene, pure and simple.
I would propose that bloggers like you and Din merican should start a signature campaign to get Penangites and also emigres from Penang to go on a campaign trail to ask the PR government to put an end to any further so-called projects that will damage the island. Let this be a campaign to deny any further change of usage of Penang land such as the PGCC and also Penang Hill for any development under the guise of development.
Complain about this comment
Like or Dislike:
0 
0
Anil, It is very fortunate that PR took over the state from BN. Otherwise the project PGCC will take off. The project is buried with personal greed,corruption. This new government is the work of divine God to save the country and innocent people.
Complain about this comment
Like or Dislike:
0 
0
LGE,
Please DO NOT ENTERTAIN THEIR APPEAL!
REMEMBER THAT YOU PROMISED TO CANCEL THIS PGCC IF ELECTED. NOW THAT YOU ARE IN POWER DO NOT BACKTRACK ON YOUR WORDS. IF YOU DO, WE KNOW WHERE YOUR PARTY STAND NEXT ELECTION. FOR ME I DEFINITELY WILL NOT PANGKAH ROCKET!!!
Complain about this comment
Like or Dislike:
0 
0
The lost souls have no recourse
Repent and find solace under God’s care
Enough damage to lie all the way through
Now reap the reward of losing the gold mine
Headaches flow
Heartaches of lost love
Trying to woo it back
When it is gone; it is gone
Nothing will bring it back again
Sending appeals
Asking for second chance
When in the first place
Dishonesty and lie reign
Nothing will save the lost love
It is gone; it is gone
Don’t listen to advisors
The people telling you why
Don’t lend support when free advice light
You forget; you jump all over them
Telling them then you have connections
All the way to the dark side
When the people singing songs of grace
The Lord God comes to make it right
Now let us buried the project
It is gone; it is gone
Complain about this comment
Like or Dislike:
0 
0
I remember returning to Penang after a few years away and was shocked by the traffic jams and the ugly buildings marring my memories of Penang. The Penang of my childhood was a beautiful, idyllic place … it pains me to see what it has become. We have to stop the rot!
Complain about this comment
Like or Dislike:
0 
0
Imagine …. if March 8 didn’t happen, KTK and Rashid will still be around; BN will still be singing away …….
Complain about this comment
Like or Dislike:
0 
0
Conspiracy theory?…Dig deeper……
…
Is PGCC the vehicle to bring back funds stashed overseas in RM500 and RM1000 notes which is deemed non-legal tender when Mahathir and Bank Negara ban the usage of these denomination during the 98′ financial debacle?
The exchange of the notes to legal tender monies can only be achieved by the approval of Finance Minister and Bank Negara. But, with the event of Pakatan Rakyat wresting power in Penang and the massive loss of credibility of Abdullah Badawi coupled with the recent political debacles, the PGCC was shelved indefinitely and I believe permanently.
Read:www.futurefastforward.com/malaysia-updates/139-matthias-chang
Complain about this comment
Like or Dislike:
0 
0
Cheah wrote
”
I will agree to a balance development, Penang need it to progress. It irrational to pour cold water over it to said that the project is dead.
How will the hundred of small contractors survive if we have this anti-development mentality.”
I think Cheah is an idiot (sorry, but i think this is much better word to expressed my disappointment)
On my opinion, PGCC will not help on Penang economy
1. This is a huge project, just like Twin tower, which caused over supply in KL and Selangor about 75%. Once she completed, we will facing over supply in houses. I still remember in 1999 we have over 30 billion stagnant sale, i am not sure after 10 years for now what is the figure.
2. PGCC will seriously affected the Island ecosystem.
3. The site is on the mid of the island, where is highly traffic jam area. With giant residential allocation and no proper traffic plan, do u want all penangites buy an helicopter? That is why ex-Penang government did not approve the project; whereas, the (sleepy PM) unilaterally held the opening ceremony.
4. How will the hundred of small contractors survive?
Yes, this is even interesting. USA by sake of almost similar reason to boom their economy, they purposely deregulated their mortgage system (Not very sure exact rules or regulation). So, now we all excited to talk some thing about ‘bailout’. Without proper planning will bring u a big disaster. So that says one day the Penang properties dive into big s*** pool, do u want to rescue the contractors from the s***?
So, come to the end i think u are deserved for “idiot”.
Complain about this comment
Like or Dislike:
0 
0
Without a Geological Impact Assessment Report on PGCC project, it is unthinkable how a project of such a monumental magnitude can be put on the map of Penang? Any intelligent person will see disaster coming on to Penang if the project has a “go ahead” stamp on it.
Complain about this comment
Like or Dislike:
0 
0