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How former Mahathir tried to 'blackmail' SG for a loan during 1997 crisis

BuiKia

Alfrescian (InfP)
Generous Asset
It was the crooked bridge that never came to be. A proposed new bridge to replace the Pre-War Johor Causeway, it was arguably a thing of breathtaking beauty.

The benefits of demolishing the old Causeway were many. Alleviating the daily jams by allowing more lanes for bi-directional travel. A raised semi-bridge which would allow sea-going vessels to pass unhindered beneath its spans, potentially allowing the free-flow of water and sea traffic for the first time in more than half a century. For the first time, smaller vessels could travel south down the Straits of Malacca and make their way to the South China Sea while completely bypassing Singapore and the world’s busiest port, saving them both time and money.

In fact, if you study the artist’s rendering closely, you might notice that something is missing. The road is present, as is the KTM railway line with a fancy rotating bridge. Now have a glance at The Causeway today:

Notice the water pipelines that were missing from the Crooked Bridge rendition? Yes, the water pipelines from Johor that, back when the Crooked Bridge was first proposed, carried Singapore’s sole source of life-giving water. Let the ramifications of that sink in while you think about it from Singapore’s perspective.

Now, exactly what gives? To answer that, we need to reach further back into history. Specifically, the years of 1997 and 1998 and The Asian Financial Crisis or what the Thais called Tom Yung Goong.

The then Prime Minister was in a quandary. He had sacked his deputy, Anwar Ibrahim and to make matters worse, the country was experiencing a financial crisis unlike any other before. Currency speculators had devalued the Malaysian Ringgit to a fraction of its previous value. Attempts by the Central Bank to prop up the ringgit’s value had been expensive and ultimately futile. Malaysia was virtually bankrupt. There was no more money left.

With metaphorical hat in hand, Dr. Mahathir made a visit to Singapore to meet with PM Goh Chok Tong. Although unreported in the Malaysian media, Singapore’s media nevertheless broke the news that Dr. Mahathir had asked Singapore for a 5 billion dollar loan, as Malaysia was in dire straits financially. PM Goh responded positively. Singapore was willing to lend Malaysia the five billion but with “conditions”. It remains unclear exactly what these conditions were as only Dr. Mahathir and PM Goh were privy to the details.

Dr. Mahathir in any event decided that these conditions were unacceptable and returned to Malaysia empty-handed. Indonesia’s President B.J. Habibie had been closely observing these matters and pronounced loudly that “A friend in need is a friend indeed”.

Although the IMF had offered Malaysia a similar loan, that too came with IMF-imposed conditions and obligations which Dr. Mahathir similarly refused to accept.

Ultimately, as we may now recall, the ringgit was made non-convertible outside Malaysia. Effectively, the ringgit became overnight utterly worthless in every country on earth except for Malaysia.

Over time, Malaysia’s financial situation stabilized. Malaysia’s relationship with Singapore, however, had irretrievably broken down. The good doctor’s ego had been severely bruised by his having to “beg” and his humiliation in Singapore.

Malaysia started to question quite loudly and publicly the rationale of selling raw water to Singapore at a mere 3 sen per 1,000 gallons while buying treated water back from Singapore at a much higher rate. It wasn’t as though Malaysia needed Singapore to treat raw water ; other states in Malaysia were perfectly capable of treating raw water to make it potable without needing conniving, condition-imposing Singapore’s help, thank you very much.

Subsequently, relations between the two nations became even more acrimonious. Malaysian media regularly carried negative news about Singapore.

The hidden message was made very clear when Mahathir proclaimed “There’s more than one way to skin a cat.”

The Lion City, no doubt bristling at the threat, shot back via Prof Jayakumar “No cat will simply lie down and wait quietly to be skinned.”

When plans for the demolition of the Causeway were revealed and the images of the new Crooked Bridge were made public, the penny dropped.

Before resigning as PM, Mahathir obtained the assurance of his successor Pak Lah that the Crooked Bridge would become a reality.

Meanwhile, Singapore now realized that their only source of national water was no longer certain although water supply contracts were still in force. Heavy expenditures were made on desalination technologies.
 

winnipegjets

Alfrescian (Inf)
Asset
Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.
 

TracyTan866

Alfrescian (Inf)
Asset
Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.

No surprise that SG's Foreign Policy is screwed up. Look at SG's economic policy now. Does the pap think that a low wage model can be sustained if SG is to survive?
 

BuiKia

Alfrescian (InfP)
Generous Asset
Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.

But dun forget that certain kind of people borrow money never return one.
 

Cestbon

Alfrescian (Inf)
Asset
Dont look down on Mudland. In future no one will know. Maybe Sg like HK know bow to China.
Before HK currency higher than China RMB now what happen.
 

syed putra

Alfrescian
Loyal
Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.

Don't worry lah! PAP has najib in their pockets. How would you explain the return of KTM land for nothing back in return?
 

syed putra

Alfrescian
Loyal
Actually they should build a bridge to replace the causeway. It does not haave to be like the brooklyn bridge or the crooked bridge. A simple bridge like those over the danube or river seine should be sufficient. just enough for pleasure boats and local marine traffic like tug and barges and tourist cruise boat to pass underneath.
This will benefit the marina and yacht industries of both countries.
 

Seee3

Alfrescian (Inf)
Asset
But dun forget that certain kind of people borrow money never return one.
Long time ago, a subordinate wanted to borrow a few thousands. Incidentally, he is a Malay. After much consideration, the loan was given with only one condition; it would be the first and last time.

The decision was made based on the bottom line that the sum would be written off. To feel better, it was taken as a bad decision in the stock market. On a more selfish note, he was also an important junior staff whose contribution to the work was important.

Surprisingly, he repaid the loan in installment over many years. More importantly, he became a great help in many ways.
 
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Hans168

Alfrescian
Loyal
Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.

Now we hv Najib with a smiing face to exact a kilo of daging for car entering melayu land never mind if the Chinese biz there in JB suffer or not. Malu sial BOLEH
 

Narong Wongwan

Alfrescian (Inf)
Asset
Now we hv Najib with a smiing face to exact a kilo of daging for car entering melayu land never mind if the Chinese biz there in JB suffer or not. Malu sial BOLEH

Not to mention they Siam paying billions for the land fees.
Stupid pappies think themselves clever but kena scammed
 

zeddy

Alfrescian (Inf)
Asset
Daft Sinkies have this impression that PAP leaders are very clever when dealing with other regional leaders and UMNO chaps are plain stupid.. In truth the chaps up north are much more clever and streetwise than the Pappy scums..
 

dr.wailing

Alfrescian
Loyal
Daft Sinkies have this impression that PAP leaders are very clever when dealing with other regional leaders and UMNO chaps are plain stupid.. In truth the chaps up north are much more clever and streetwise than the Pappy scums..
Totally agree. Like how LHL and his husband Ho Jinx got played out by the Thais?
 

frenchbriefs

Alfrescian (Inf)
Asset
Its incredible how Lee Hsien long had the balls to screw Malaysia over a loan when its apparent over the last ten years that he is willing to throw billions at whoever opened their mouth and asked and sell the country out to 1 million shitskin and sign any contracts.
 

apogee

Alfrescian
Loyal
Neither is Malaysia's foreign policy admirable. She quarreled with Indonesia, Brunei and the Philippines.

Sinkapore has a reputation in the region as the Jew. Like Shylock, the PAP will extract a pound of flesh.

That Mahathir came to ask for a loan should have been reciprocated, instead the PAP put in onerous conditions for the loan. Of course, Mahathir walked away.

It is a matter to time before war will breakout between sinkapore and mudland; sinkapore will lose because it is indefensible.

sinkapore's foreign policy in the region is totally screwed up. We are not close to any of the countries, except for Brunei.
 

winnipegjets

Alfrescian (Inf)
Asset
But dun forget that certain kind of people borrow money never return one.

Not at a sovereign level. Once upon a time, relations were so tight that no problem could not be resolved without a phone call. Then LKY decided that he no longer needs Mudland and then started to be like the Jew. That's when things went downhill. LKY is a user.
 

virus

Alfrescian
Loyal
Long time ago, a subordinate wanted to borrow a few thousands. Incidentally, he is a Malay. After much consideration, the loan was given with only one condition; it would be the first and last time.

.

Wow mahathir actually worked for you before as an intern '? So the spin by papzi must HV been false. I knew there was smthg about it. Mahathir would never bring himself to give whorejinx the down under frenching.
 

JohnTan

Alfrescian (InfP)
Generous Asset
Did we blackmail Mahathir back then using news of his deputy Anwar poking his aide's backside?
 

frenchbriefs

Alfrescian (Inf)
Asset
Mahathir has Luciferz blood in his body.......... his mother conceived him after many intercourse with a gang of devils....

Mahatir is a true intellect, his book the Malay dilemma is a masterpiece, better than any crap Singapore can produce.it shows that not all Malays are inferior monkey genes,once in a blue moon,they can produce someone as exceptional as mahatir.

And by exceptional I mean in a good way,not exceptional like Lee.
 
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