Cow business is big business!

These days, everyone is talking about cows. Not mad cow disese, but just cow per se. Maybe cows plus condominiums.

In those days when I was a small boy and staying in Ayer Itam of Penang, we would often see one or two cows being shepherded by some  ‘young cowboys’ even along the paved roads.  Some cows would walk in the centre of the road, and motorists had to swerve their vehicles to avoid hitting them. It was also not uncommon to see dung here and there,, and for small boys like us, we were very careful not to step on the dung when going to or  coming back from schools.

Rearing cows in those days was not big business. Most cowboys were poor. Some of the cowboys kept them for milk productions. We sometimes had fresh milk delivered to our house, and i still vividly remember that we needed to boil it before drinking, unlike cow’s milk nowadays, you can just pour out from a tetrapak and drink.

Cows have remained the same. I don’t know about the meat because I do not eat beef, as our family tradition dictates.  Since I do not eat meat, I have not paid much attention to beef prices, but one thing I know.

 Apparently, cow rearing is now big business. It is even bigger than property , and it can also be mixed with property business.

Cowboys nowadays talk in hundreds of millions of dollars  and they do not need to shepherd them through the roads anymore. In fact, cowboys probably  drive luxurious cars to visit their cows.

How to be the new generation cowboys? Easy.

If you know the right person — or rather if you are the right person– you can get a soft loan not from banks but indirectly from the tax-payers via the Big Brother, with very low interest, to start a cow rearing farm. Not a loan of a million or two.  I recall a female minister had once said that a million is nothing nowadays ( you can try search for a post on this in this blog). Going by her advice, you do not want something that is ‘kacang putih’, you want something big!

So the loan would be in the region of more than a hundred millions. There will be certain time for you to reach the targeted number , say 8000 cows. If you find it too tedious to rear them  from wombs, you can actually import them from Down Under to your farm, keep them for a few weeks, and then sell it as a product of your farm. Nothing wrong in that; the Americans are doing the same thing– they are selling American products that are all  made in China.

The beauty of it is that since you are somebody, you can actually use part of the cow money to buy and invest in luxurious condos. It will definitely be cleaner than cow business. Do not buy those apartments that lay men stay (they can be too dirty by your standard), but expensive apartments in the region of almost 7 millions each.

Since you pay cash, you can even get a rebate from the developers for the purchased condos. The funny thing is , this rebate can even be classified as part of the rental earnings. You do not have to be good in accounting, for if you are somebody, you can just list those rebate as income- no one would be so foolish to question you!  By doing that, the condos you purchased would ostensibly give you a very high yield of more than 10% — even though if you strictly take rental alone, it would be in the region of less than 4% (more or less like FDs, but since you are somebody, you probably can stand the higher risks that condos give compared to FDs).

You do not have to worry. Afterall, so many that you know are doing the same things and other funny things too. There are even some who waive a raise in toll increases but get extra income in the long run by  increasing the length of the toll collecting period.

Afterall, this is Bolehland…


Further readings:

(For the actual yield calculations, please read this excellent article here)


16 Comments (+add yours?)

  1. Nick
    Nov 21, 2011 @ 14:17:53

    Anyone who commits a ‘criminal breach of trust offence (CBT) under penal code 405 – 409 is punishable by a jail term >1-10 years + mandatory whipping + possibly a fine. I do not know of any ‘project financing’ given by any institution that allows the borrower to spend the money anyhow they want with no linkage to the project-in-hand. Most of the Companies that I have worked for have to submit actual Invoices and Contracts to effect the drawdown. Most banks will even restrict the drawdown to 80% – 90% of actual Sums. It seems in this NFC, the drawdown of such a gargantuan sum is not monitored at all.
    I fail to understand how the funds can be disbursed with no repayment even after so many years? Not even one cent. The Chairman said the repayment starts after the entire loan is drawdown and they haven’t done so yet, but surely this is a loophole that cannot be forever?? I am waiting to hear from the LENDER. So far, they have remained silent? Maybe, they are not bothered. Maybe these Loans are all given and written off eventually.
    Is this our new NEP?


  2. Observer
    Nov 21, 2011 @ 14:20:40

    The issue here started when the Auditor General’s report showed the NFC fell short of target and purchased 2 high value condos.

    The company came out to show that the condos were giving extremely good returns.

    Dr, your point is that the company shouldn’t use cheap loans to profit itself especially when the loan came from the tax payers money.

    The proper thing to do is that the company should return the extra moneys to the Government instead of investing it in the 2 condos.

    I just wonder whether the loan agreement allows NFC to return the funds without any penalty?


  3. C++
    Nov 21, 2011 @ 14:21:41


    In Bolehland… the phrase “What You See Is What You Get” could be easily changed to “What You See Is Actually What You Must Have”…

    You don’t need to know anything about farming or others … the only think you shall need to know is where to enjoy all the benefits and lives like a king…


  4. klm
    Nov 21, 2011 @ 14:42:47

    Cow business is big business. But unfortunately cow sense is not.


  5. CYC
    Nov 21, 2011 @ 16:32:14

    The beauty from getting loan from govt is you can actually get a waiver to repay when you fail. And our govt very often willing to grant a waiver whenever there is a request for such waiver. I wonder what our backdoor KPI minister has to say about this fiasco. Technical error, perhaps.


  6. JYC
    Nov 21, 2011 @ 20:11:01

    This cow thing is wrong on so many levels. To add to NIck, To ensure integrity and that both sides are performing to agreed terms, usually professionals would be hired by both sides, they would provide monitoring report on a monthly basis or when drawdown is required. they would strictly adhere to an agreed budget drawn up when the terms of the loan was agreed upon. Oh…with banks undrawn amounts would attract interest,although lower, would provide no incentive not to draw the loan. The bank covenants would also needed to be satisfied on a quarterly or an agreed time period basis to ensure business performed as claimed. Surely these steps make sense even for govt loans? That they manage to divert those resources to buy property without anyone batting an eyelid and then pretending nothing is wrong and then have a minister say to the effect – bug*** off if you don’t believe me. If this continue the nation will die a slow painful death.


  7. deadeagle
    Nov 21, 2011 @ 20:51:34

    just another messed up, scewed up… project by BN !
    Just when ordinary Msian would wake up n throw this govt away ??


  8. mmc
    Nov 21, 2011 @ 22:18:27

    another UMNO rip-off


  9. Jong
    Nov 21, 2011 @ 23:43:33

    It’s CBT!
    This unelected backdoor minister and Wanita UMNO chieftian has the cheek to say “I work hard too so I need a government project” !
    So it’s her right that she deserves some government project eh? Or is she a proxy for the bunch of corrupt UMNO leaders who wasted no time coming to her defense? I am suspicious!

    Where is MACC, it’s RM250 million of public funds and they don’t seem to be interested, still dragging their feet for instruction from above?

    MACC were never slow when it came to those on the other side of the political divide; they wasted no time on Teoh Beng Hock, Political Aide of Selangor State Executive Councillor Ean Yong!
    TBH was found dead after they aggressively pounced on him just to get his boss implicated for offense of “intending to deceive” …..involving RM2,000!


  10. klm
    Nov 22, 2011 @ 10:15:56

    Hey diddle, diddle
    Sharizat and her fiddle
    The cows are over the moon
    Luxury in the ten million condo
    Paid from taxpayers money mondo


  11. Dr Hsu
    Nov 22, 2011 @ 10:35:51

    This is the mentality of many leaders who think that since they work for the people, they are entitled for all the unseen benefits.. Not knowing that as people’s servants, they are already paid a hufty sum plus pension. It is also their own choice to be leaders.

    Part of the reasons are money politics. The warlords demand lots of goodies and all these goodies come from these leaders.

    That is why I have many times stressed that political parties must not solicit funds, but rather, the government allocate a sum of money proportional to the support of the parties . If i am not mistaken, Germany is practising this system, and this will once and for all end the constant demand for money from the warlords.

    Another reason is of course the closing of one eye by the auhtority and practice of double standards in prosecution. If all the big wigs are prosecuted and jailed, I am sure it will slowly change the culture of corruption and abuses. As it is, whatever talk about tackling of corruption is only lip service.


  12. BeWildered
    Nov 22, 2011 @ 13:15:19

    Then fish rot from the head down! It seems the whole fish is rotting at this stage. There is not a three month gap from one news to another about how the country wealth is being siphoned into some body’s pocket. It is saddening that none is held accountable. The strange is, all it takes for the DPM to declare it is not a problem, WTF is that all about, is this country lawless?


  13. Nancy YSL
    Nov 22, 2011 @ 15:24:58

    To anyone who has a bit of brain, the 70K rent claim by “cowgate” heroine husband is “UNBELIEVABLE” to say the least. However, stupid cronies with bird’s brain running a “cowgate” project which costs 250M bucks of poor rakyat money you better believe it. Of course, It is entirely possible to get RM70k rent.

    Company A buys condo with money granted by the government and rents it out to Company B which may well be controlled by the same person(s) at non-market rates.

    Of course, Company B is also surviving on a government grant, and with the proper documentation and ‘contracts’ everything, of course, looks legit on the surface. Bolehland at its best.


  14. Li Li Fa
    Nov 22, 2011 @ 23:05:15

    This cow is hardworking indeed! Lending its name and mooing its way into the heightened excitement of a condo. It is also a cash-cow that flies over the moon right into the pockets of the owners. Surely it must have a head that is good in figures, ringgit and sen. This head should never be cut and stepped on. Such a precious animal now fondly loved by people even in high places and who are not cowed by heightened places. Only one place that that produce such species of cow – BolehMooland!


  15. deadeagle
    Nov 23, 2011 @ 14:45:07

    Just a question, why NFC, had so much spare cash to buy expensive condo?? (for investment as claimed??). thought the money should be for development of raring cows?? Raring cows can make so much money in such a short period??


  16. Phua Kai Lit
    Nov 25, 2011 @ 07:54:11

    There are cows (MACC investigates MB of Selangor) and then there are cows
    (MACC does not investigate Cowgate case)


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