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The Queen and the then Yang-di-Pertuan Agong (Malaysian King) at the opening ceremony of the Commonwealth Games 1998 in Kuala Lumpur. A case of once bitten, twice shy for 2026?
Go fly kites colonists - Malaysia not taking up the Commonwealth debt trap bait!
KUALA LUMPUR, March 22, 2024: Finally the so-called Madani Unity Government (UG) and Youth and Sports Minister Hannah Yeoh have announced that Malaysia is rejecting the offer to host Commonwealth Games 2026.
It doesn’t take the brain of a rocket scientist to reject such an offer at a time when the global economy is gloomy or sluggish - and that Malaysia’s more than RM1.5 trillion debt is the top concern for Malaysians.
The UG probably are also unable to find enough private sector financial support and sponsors for the irrelevant games that only glorifies colonists.
So, who are the most disappointed on the rejection? Of course the potential infrastructure and services contractors and kleptocrats! No more nulti-million-ringgit kang tao or jalan (opportunities)!
No News Is Bad News reproduces below a news report on the rejection and past posts on the games:
Malaysia will not host 2026 Commonwealth Games, says Hannah
-22 Mar 2024, 02:48 PM
The Cabinet decided on the matter in a meeting today.
Youth and sports minister Hannah Yeoh said the Cabinet had decided on the matter in a meeting today after considering all the implications and aspects of hosting the event. (Bernama pic)
PETALING JAYA: Malaysia will not be hosting the 2026 Commonwealth Games, says youth and sports minister Hannah Yeoh.
She posted a statement by her ministry on X, which said that the Cabinet had decided on the matter in a meeting today after considering all the implications and aspects of hosting the event.
“The government will not accept the Commonwealth Games Federation’s (CGF) offer to host the 2026 Commonwealth Games.
“A delegation from the CGF had met the youth and sports minister and held a briefing on their offer, which was also attended by the second finance minister on Feb 5,” the statement read.
According to the statement, the results tabled before the Cabinet expressed among other things that the 100 million pounds (RM603 million) offer from CGF would not be able to cover the overall cost of hosting a large-scale sports event.
“Besides that, the economic impact cannot be determined in this short period of time.”
Earlier this month, sports commissioner Suhardi Alias criticised the proposal for Malaysia to rescue the Commonwealth Games by hosting the 2026 edition at short notice.
The first top Malaysian civil servant to oppose the move led by Olympic Council of Malaysia president Norza Zakaria, Suhardi said the plan was shocking, financially risky and short-sighted, and that he was against wasting public funds.
“Why do we want to be the saviour for the games when Victoria dumped it, and nobody else wants it?” he said.
The Australian state of Victoria had withdrawn as hosts after citing concerns about increasing costs, which could rise to more than A$7 billion (RM21.7 billion) from a budgeted A$2.6 billion.
The proposal to host the games had been roundly panned by others as well, with former sporting greats Karu Selvaratnam and Santokh Singh warning the government of the potential financial and economic repercussions.
Hashim Ali, the former chairman of Sukom Ninety Eight Bhd, which was formed to manage the 1998 Kuala Lumpur Commonwealth Games, had also said Malaysia is not in the best position to host the games, as two years are not enough to prepare for such an endeavour.
He had noted that it took Sukom four years to plan and deliver the 1998 Games.
Thursday 21 March 2024
What rubbish is Hannah Yeoh saying about the offer to Malaysia to host Commonwealth Games 2026?
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Malaysia should reject the offer to host the 26th edition of the games in 2026 on grounds that “once bitten, twice shy”, due to financial constraints and the games' irrelevance today.
What rubbish is Hannah Yeoh saying about the offer to Malaysia to host Commonwealth Games 2026?
KUALA LUMPUR, March 21, 2024: C’mon Hannah Yeoh! You are better than that!
What rubbish are you saying in Parliament? Are you belittling or insulting the intelligence of Malaysians?
Saying that the so-called Madani Unity Government (UG) will not host the Commonwealth Games 2026 if taxpayers money is needed to be used.
That is as good as saying Malaysia will not host the games!!! Why not say so!!!
If not government money, which idiot or organisation/s will want to take up the offer to host the irrelevant games and throw away good money, especially in the current lacklustre or sluggish global economy..
Other countries have wisely rejected the offer to host the games for obvious reasons and now, with only about two years to the games, Malaysia is considering to pick up the “dead cat”, so to speak.
The games is irrelevant as many netizens on social media have described the games as glorifying colonists, why continue to do so? The event is a relic of a bygone colonial era
Moreover, it is too costly to host the games. The billions are better spent on domestic socio-economic needs.
Holding the games will also just benefit infrastructure contractors, service industry players and potential kleptocrats.
Also, the offer to Malaysia to host the games is dubbed a debt trap (see previous posting reproduced below:
We won’t host Commonwealth Games if taxpayer money used, says Hannah
-21 Mar 2024, 12:14 PM
The youth and sports minister says the expenditure must not exceed a grant of 100 million pounds from the Commonwealth Games Federation.
Youth and sports minister Hannah Yeoh says the government must meticulously consider every aspect of the matter to avoid making a hasty decision. (Bernama pic)
KUALA LUMPUR: Malaysia will not host the 2026 Commonwealth Games if the event is to be financed by taxpayers’ money, says youth and sports minister Hannah Yeoh.
Yeoh said the government will only take on the task if its expenditure does not exceed a grant of 100 million pounds (RM602 million) promised by the Commonwealth Games Federation (CGF).
She said the government will meticulously consider every aspect of the matter to avoid making a hasty decision.
“What is for sure, the ministry will always put the people’s interests first.
“We would never waste taxpayers’ money (on the event), even if we are ready to host it,” she told the Dewan Rakyat during ministerial question time.
She was responding to Afnan Hamimi Taib Azamudden (PN-Alor Setar), who asked what the government’s position was with regard to an offer by the CGF for Malaysia to host the 2026 Commonwealth Games.
The Cabinet is expected to discuss the offer at its meeting tomorrow.
Although hosting the 2026 games may result in significant economic opportunities for Malaysia, economists have cautioned Putrajaya as to the financial risks associated with organising the multi-sport competition.
The Australian state of Victoria withdrew as host, citing concerns about increasing costs, which it said could rise to more than A$7 billion (RM21.7 billion) from a budgeted A$2.6 billion.
Kuala Lumpur, one of six original bidders for the 2026 games, has recently been touted as a contender to take over as host.
Sunday 17 March 2024
Don't show off: Commonwealth Games 2026 a debt trap for Malaysia
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The prospect of Malaysia hosting the 2026 Commonwealth Games has been thrown into doubt after current and former senior officials expressed serious reservations about the country's bid. For more info on the image, go to https://www.insidethegames.biz/articles/1144214/malaysia-to-host-2026-commonwealth
Don't show off: Commonwealth Games 2026 a debt trap for Malaysia
KUALA LUMPUR, March 18, 2024: Malaysia is being offered £100 million (RM599 million) incentive to host the Commonwealth Games 2026.
But it needs to spend RM16.5 billion to RM21.8 billion. Does that really looks like an incentive?
Malaysia is better well off focusing on settling its more than RM1.5 trillion national debt economy than to engage in and international show off and end up with a more miserable financial and socio-economic mess.
If Australia can decline to host the games, doesn’t that tells Malaysia all is not rosy to host the games? It’s a no brainer decision for Malaysia, isn’t it?
Also take a look at this list of news:
· December 2023: Gold Coast withdraws its bid for the 2026 Commonwealth Games
· November 2023: Chris Jenkins, new president of the Commonwealth Games Federation
· November 2023: CGF: Australia could keep the 2026 Games despite Victoria's withdrawal
· November 2023: Historic Declaration of the Commonwealth Games Federation
· October 2023: Gold Coast Mayor refusing to give up campaign to host 2026 Commonwealth Games even after opposition from Queensland Premier
· October 2023: Victoria Premier Allan criticises "naked" cartoon in reference to Commonwealth Games cancellation inquiry
· October 2023: Queensland Premier rules Gold Coast rescue plan for 2026 Commonwealth Games "can't go forward"
· October 2023: Greens Mayoral candidate Sriranganathan vows to oppose Brisbane 2032 Olympics
And, also, given the gloomy global economic outlook, do you think foreigners will flock to see the mediocre athletes in action? If it is the Olympics, that is a different ball game!
No News Is Bad News reproduces a Finance Twitter analysis on the issues:
The Coverage/News/The Debt Trap Of 2026 Commonwealth Games – Malaysia Given RM 600 Million But Need To Spend RM16.5 Billion To RM21.8 Billion
The Debt Trap Of 2026 Commonwealth Games – Malaysia Given RM 600 Million But Need To Spend RM16.5 Billion To RM21.8 Billion
18 March, 2024
Malaysia is being offered £100 million pounds to host the 2026 Commonwealth Games. That looks like a jackpot given on a silver platter. Even the Taylor Swift’s just concluded exclusive concert in Singapore in the Southeast Asian leg of her Eras Tour looked lame compared to this international sports event involving 74 Commonwealth nations and territories.
If the Taylormania’s six-day performance, which saw more than 300,000 fans from across the Southeast Asia made their way to Singapore, could contribute S$500 million economic benefits to the tiny island, what more the Commonwealth Games? And Malaysia is already looking at the mouth-watering incentive of almost RM600 million before anything needs to be done.
But there’s no such thing as a free lunch. Before the government of Anwar Ibrahim hastily accepts the offer, it should understand why the Commonwealth Games Federation (CGF) generously offer the money. The £100 million of “financial and strategic support” was an offer to any potential host as part of the Australia withdrawal settlement. That means the Aussie was no longer interested.
Malaysia is being offered £100 million pounds to host the 2026 Commonwealth Games. That looks like a jackpot given on a silver platter. Even the Taylor Swift’s just concluded exclusive concert in Singapore in the Southeast Asian leg of her Eras Tour looked lame compared to this international sports event involving 74 Commonwealth nations and territories.
If the Taylormania’s six-day performance, which saw more than 300,000 fans from across the Southeast Asia made their way to Singapore, could contribute S$500 million economic benefits to the tiny island, what more the Commonwealth Games? And Malaysia is already looking at the mouth-watering incentive of almost RM600 million before anything needs to be done.
But there’s no such thing as a free lunch. Before the government of Anwar Ibrahim hastily accepts the offer, it should understand why the Commonwealth Games Federation (CGF) generously offer the money. The £100 million of “financial and strategic support” was an offer to any potential host as part of the Australia withdrawal settlement. That means the Aussie was no longer interested.
The Australian state of Victoria decided last July to withdraw as the host of the 2026 Commonwealth Games due to rising costs. The event, scheduled for March 17-29, 2026, saw the hosting costs skyrocketing from the initial projection of A$2.6 billion (about RM8 billion) to A$7 billion (RM21.8 billion). In fact, Victoria’s government agreed to pay A$380 million for breach of contract.
If indeed the international multi-sport event is so profitable in the first place, or at least could generate a bigger economic impact than Taylor Swift’s concert, it doesn’t make sense for Victoria to cancel it. Within hours of Victoria’s announcement, the neighbouring state of New South Wales – whose state capital Sydney hosted the 2000 Olympic Games – said it would not take over.
The best part was when other Australian states, with the exception of Queensland, poured cold water on hosting the event too. At a very conservative estimate, an Australian independent financial analysis determined the event would cost US$3.5 billion (£2.75 billion; RM16.5 billion), with the economic benefit only amounting to US$1.2 billion (£1 billion; RM5.6 billion).
In short, all analysis agreed that the Commonwealth Games would cost a significant amount of money and provide very little return on that investment. Agreed with Victoria Premier Daniel Andrews to pull out of the event, Western Australian Premier Roger Cook said – “The Commonwealth Games aren’t what they used to be and as a result of that they don’t provide the return on investment”.
The fact that Victoria was more than happy to cut loss and pay compensation to the tune of A$380 (RM1.2 billion) should provide enough reasons for Malaysia to also avoid the games like a plague. However, don’t underestimate this Southeast Asia country’s stupidity. After all, this is the same nation dumb enough to import radioactive waste from Australia when the Aussie did not want the toxic materials in its backyard.
Already, clueless Mohamad Norza Zakaria, president of the Olympic Council of Malaysia and the Commonwealth Games Association of Malaysia, was incredibly excited about the prospect of hosting the game that Australia rejects. He said – “With the existing world-class facilities, Malaysia is well-equipped to host an international event of Commonwealth magnitude”.
The incompetent Mohamad Norza brags- “The hosting will involve minimal Government spending and bring significant socio-economic benefits to the country. It will also elevate the standard of Malaysia sports much like the way it did in the aftermath of the 1998 Games. To this end, the CGF and CGA Malaysia have offered an attractive proposal to the Government of Malaysia.”
Exactly what type of world-class facilities that he was referring to after more than 25 years since Malaysia last hosted the Commonwealth Games in 1998? It’s just 18 years since Melbourne, Victoria last hosted the 2006 Commonwealth Games, where Queen Elizabeth opened the event for the first time on Australian soil. Yet, Victoria still needed to spend up to A$7 billion (RM21.8 billion) for the 2026 games.
Malaysia is well known for its “first class infrastructure, third world mentality”, contributing to poor maintenance of new facilities. If even Australia had to face an escalation of costs, what more Malaysia, a country infamous for not only cost overrun in every single project, but also has the tendency of at least tripling the initial costs due to massive corruption?
At best, Malaysia may need to spend between US$3.5 billion (RM16.5 billion) and A$7 billion (RM21.8 billion). At worst, Anwar administration could see the cost of hosting the 2026 Commonwealth Games balloon to A$21 billion (RM64.8 billion) as a result of corruption. It’s not like you just need to spend some money on minor renovation or repair works or printing marketing banners.
Ask yourself this question – why did not other Commonwealth countries such as Canada, England, New Zealand, Scotland, Wales or India quickly grab the opportunity abandoned by Australia? The primary reason Malaysia is being approached is because the Commonwealth Games Federation (CGF) could smell a sucker from miles away. The biggest problem is not merely the ROI (return on investment) alone.
With two years left before the games, Malaysia will certainly look like a bunch of clowns if it fails to upgrade the venue, getting sponsorship, providing infrastructure and whatnot. All eyes will be on this magnificent nation that foolishly and arrogantly thought it could do the job, only to be stripped of the rights to host after failing to meet promises, just like what happened to South Africa in 2015.
In 2015, the South African city of Durban was awarded the 2022 Games after the Canadian city of Edmonton withdrew, also citing cost concerns. But 2 years later, like Australia, South Africa’s sports minister threw in the towel and revealed the financial burden – “We gave it our best shot but we can’t go beyond. If the country says we don’t have this money, we can’t.”
To save the 2022 Games, Birmingham and the British government stepped in, pumping more than £560 million, in addition to another £190 million from the local council of the West Midlands city. Originally, Birmingham had been scheduled to host the 2026 Games, but the decision to bail out South Africa’s failure saw Victoria getting the job instead, which is now vacant again after Australia withdrew. Subsequently, the Birmingham city council went bankrupt.
Actually, Victoria was named the host of the 2026 Commonwealth Games in 2022 after Kuala Lumpur, Cardiff, Calgary, Edmonton and Adelaide all pulled out from proposed bids because they were concerned about costs. Hence, should Prime Minister Anwar Ibrahim decide to step in to bail out Victoria, he has to explain and justify the financial feasibility of such project.
Essentially, the debts of the British Empire Games will become a political baggage – even a scandal – that would engulf Anwar’s political career at a time when the country is struggling with the high cost of living and global economic uncertainties, not to mention the RM1.5 trillion national debts. Worse, unlike Olympic Games, the colonial origins of the Commonwealth Games have seen it losing its relevance and audiences.
Crucially, if Kuala Lumpur fails to deliver the 2026 Games as promised, which it will certainly do, the opposition parties will capitalize on the issue to hammer Anwar’s leadership and question his competency. With the next 16th General Election must be held by 2027, the risk is too high for Anwar-led Pakatan Harapan coalition to toy with the games. Even India had no interest to host it.
Alternatively, to reduce the costs and risks, Malaysia and Singapore could consider jointly host the games. However, Singapore appears not interested as it will only continue to pursue sporting events that are aligned to its “strategic interests”, and Commonwealth Games isn’t one of them. Unlike Malaysia, financial considerations were crucial to any decision-making process in Singapore, even though it has the money to splash.
Source : Finance Twitter
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