KINIBIZ Issue 003 of KINIBIZ Magazine hits the stands today, highlighting the rather opaque dealings at a Finance Ministry company, Pembinaan PFI, which involves up to RM30 billion in financing.
The cover story offers an in-depth account of this scheme to raise funds for ostensibly private finance initiatives, which are not quite that.
Our story outlines how a government company leases land from the government, subleases it back to the government, gets a loan from EPF for it and passes this on to the government, repaying it with sublease payments. Why is it such a complex spider’s web and what is it all for in the end?
These are some of the questions the articles try to answer.
We do have a piece on 1MDB in the Question Time column under our Opinion section. We suggest that if 1MDB truly wishes to allay concerns over the state of its finances, it should make at least 10 disclosures.
In the Finance section we look at Islamic Finance and Malaysia’s role in this quickly-growing sector. While Malaysia still remains the world’s largest Islamic Finance hub, new entrants such as Dubai are beginning to challenge its dominance. Our article looks at some of the key challenges facing the development of Islamic Finance.
For Enterprise we feature San Francisco Coffee where a former banker steps in to save the chain. He tells us how he is doing it as he wakes up, actually smells the coffee and recognises that they still have a ways to go.
Aside from these highlights there are articles discussing stocks and opinion pieces on everything from criminals building capitalism to upping the ante on public service delivery.
KINIBIZ Magazine can be bought at the stands for just RM10. A combined subscription to both KINIBIZ online and KINIBIZ Magazine is just RM318 per year. In order to subscribe, all you need to do is click here .
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