For those of my gentle readers not financially inclined, I will at this point, advise you to take out your calculator, if you are not a human calculator like some of us, and try to understand the process of computing the whopping figures, we will be breaking down here, in our delightful fun and games episode. I will also attempt to write this bit of article as simply as I can without going into too much financial jargon. And, I will take this from a business perspective because you will all later learn— we’re in the pleasure of business.
Now, back to the fun and games bit. Weren’t we all led to believe initially … that we were financing an international Sports Fest with games so our young kids could spend money to fly off and get to the country from around the world, and to meet and bond, with everyone else in several games of basketball, volleyball, track and field, and an impressive list of sports activities? The young ones really loved and enjoyed that, and the organiser of the event truly knew how to get to the Youth. (Pity he didn’t do much exercise himself. He’s really lazy.)
And yes, we mustn’t forget — we were also financing our very own enclosed amphitheatre leading up to a 100th Anniversary celebration and about 12 days of various events celebration, (including the Sports Fest events) before and after the actual anniversary date — that auspicious anniversary event that comes once in one’s lifetime. Very precious and important indeed. Especially when Don Spectre insisted we had to go all out and spend generously, spend everything in the coffers because woe unto us, this could be the last year we would be celebrating an anniversary (until he extended with the inglorious STF, the celebration to the next year, crikey. Who on earth ever celebrates both 100th and 101st Anniversary and calls them both a Centennial?!).
Well, we all bought those promotional sales pitches and lines, and across the world, we all tried our very best to support.
However, no one actually told us in real numbers just how much we would have to pay for such a project — the events and enclosed amphitheatre combined (nor did anyone mention the Convention Centre, the Medical Centre and the University, or the concession deals going on behind the scene, no one ever told us we were in business. Not even when we noticed the mugs, the caps, the ID tags, and all the merchandising with the logo — which everyone saw but didn’t notice carefully. Has anyone realised that the Organisation’s initials were illustrated as ‘flames’? An ominous indication that we were meant to fry or go up in flames.
By the way, I have to stress at this point that I simply, utterly detest all the unoriginal senseless logos and slogans these STF nitwits put out. Especially that tin can bottle cap with the torch design. And to see dignified ladies use them as decorative dress pins. Classless. They ought to fry that wannabe graphic designer in his own fat.).
And … how we would have to keep shelling out the money, over and over, and over again, for more creative out-of-the-box projects that seemed to suddenly spring out of nowhere, and that seemed to benefit everyone else, but us poor, tired, drained and penniless members doling out the cash. Us poor, tired, drained and penniless members believing with all our hearts and somewhat gullible conviction that we were supporting non-profit projects. How unconscious we all were. How unsuspecting. How we allowed ourselves to be exploited. And how my heart aches and sickens for our destitute members who are truly abused.
It’s like someone or a whole bunch of idiots (yes, you guessed it right, those trouble-making STF and their thickheaded leaders — can we ever get enough of them) believed we were all perpetual money trees and we didn’t have to work hard, and under terrible conditions for some — because those spoilt STF kids never had to work hard for a meagre salary and never understood what it took to make that salary. The only hard work they ever did was brown nose their leaders for dollar bills in envelopes, and that wasn’t hard work at all. In fact, they just loved the job. Especially when they get to fly about on trips made out to look like important official visits in a luxurious personalised jet and not pay for tickets. Everyone else gets to work and pay for their upkeep. What a dream job!
All these STF kids thought of was … wow, the organisation managed by the late Successor is actually a rich organisation and dude, is it really so amazingly rich. We can’t get over it! Let’s go and spend the money! WE’RE RICH! Let’s shove that knowledge into the face of everyone who thinks we’re some backyard unsophisticated third-world organisation. Let’s show them our plane and our massive kick-ass amphitheatre and let’s house everyone for nothing, let’s show off under some humanitarian banner so we rack more international accolades. And let’s make every member pay … or else.
Stupid.Young.Idiots. And we’ll add the devious, corrupt, conniving Old Guards to the lot as well. You useless despicable cowards! The whole lot of you!
To manage something like an enclosed amphitheatre as an on-going business, is completely different from just paying for a one day or one block of booking dates for a once in a lifetime NGO (non-government organisation) or non-profit event celebration.
If the construction of the largest enclosed amphitheatre in the country is meant to celebrate a once in a lifetime non-profit event celebration at a cost of the published figure of US$218 million, not inclusive of an on-going monthly operating expense that covers human resources, maintenance and utilities, etc., (and one utility bill alone from what was recently produced already indicates a monthly charge of US$27,782 — if you add up the five existing monthly statements kindly supplied by the STF idiots themselves who were all trying to be so cheeky — or say, US$333,389 per annum/per year if you use the monthly charge as an average) — then the question I will ask is which NGO or non-profit organisation is going to cough up that amount of money for a few days of celebration? And then, pay monthly or yearly for its upkeep?
Prior to 2014, and as in my last post, in 2011, short of the late Successor’s second death anniversary, this eager-to-please (…his wife and his kids and those cloying STF nincompoops salivating over his fingers — while totally disregarding the poverty-stricken members of the organisation his late father took care of diligently with all his effort and his life), this clueless and erring first born son broke ground and set into motion the greatest spending spree of his lifetime. Spending money he did not make, he did not own, he did not inherit for himself exclusively, and he did not control and manage prudently.
Let’s talk business here, after all, the 3.655 hectare multi-functional tourism complex I last mentioned, which includes that renown 99,000 sqm enclosed amphitheatre, within the 75-hectare mixed-use, tourism enterprise zone fronting a major highway, supposedly owned by the Organisation previously led by the late Successor — is apparently, also part of a 140-hectare tourism enterprise zone, that is, in turn, part of a province famously known as the “Fireworks Capital”, and, where Jessie’s family hails from … not surprisingly.
In a news article released on the actual date of the 100th anniversary celebration of the Organisation, one of the country’s expert in the tourism sector informed us that in 2011, he was tapped by “some leaders” from the Organisation to manage logistical problems.
What started as just an idea to locate a site to solve an issue of mass gathering then expanded, according to that Tourism Expert, into a more ambitious plan.
That Tourism Expert narrates, quoting “one of the leaders” who he refused to name as asking: “What if we make it into a tourism zone?”
At this point, let’s pause and really understand the thought process behind that question, and ask, once again the 300+ million dollar question (that’s cost of amphitheatre and plane together and more): Who is this person, this “one of the leaders” who proposed a “more ambitious plan”?
And, a follow-up question: Why was such an ambitious plan even entertained and worse, APPROVED?! Especially at such an outrageous amount!
Let’s reflect deeply on those two questions.
That public domain news article, available for public access, and published on 26th July 2014, further indicates that the Tourism Expert then had his company arrange incentives for the organisation’s 75-hectare tourism enterprise zone — which now seems to be finally owned, not by the Organisation itself, but by the Organisation’s Educational Institution.
He further remarks that the development of the multi-functional tourism complex is to be entrusted by the Organisation to its Educational Institution — because the entire 75-hectare tourism enterprise zone is to operate as a secular facility. He adds, 40,000 workers would be employed.
So there you have it — we are officially in business. I did start by saying let’s talk about business.
With business, comes Tax. And there are quite a few taxes to consider: Value-Added Tax (VAT) at 12%, Import Taxes around 25%, Individual Income Taxes from 5%-32%, Corporate Income Taxes at 30%, Passive Income (including dividends and interest) at 7.5%, Withholding Tax at 20% (although Special Economic Zone enterprises are taxed at a rate of 5% on gross income), Amusement Taxes at 30% of paid admission fees, Salary and Wage Taxes, and Real Estate Taxes.
A good thing to note though, is that hospitals and educational institutions are exempt from paying business tax. I’m being facetious here. The issues at this point are — who is actually going to pay for all that? The taxes and the 40,000 employees? Just who will be making the money back? Where’s the feasibility studies on this project? Who projected the 5 to 10 years ROI and on what conservative basis was the projection based on? When can we expect break-even? Who’s actually going to fulfil the projections? What are their skills? Their experience?
Are they expecting the poor members to shoulder all that expense? Why?
The assistance that the Tourism Expert was also able to extend to the Organisation’s Educational Institution was to have government incentives triggered so there would be a 6-year income tax holiday, which can be extended to another 6 years in the event the project expands; a preferential tax rate of 5%; and tax and duty-free importation of capital equipment.
Okay, so there are taxes, there’s a business, and the entity managing this controversial project and site is none other than the Organisation’s Educational Institution. Now, who heads this Educational Institution? Who took over as its Chairperson? Guess who … Jessie’s eldest daughter, the one who is the lawyer, the one who’s too smart for her own good, and the one who is now effectively known as — the Business Woman, and the person who deals with Mr A. and Mr. T., and all the other millionaire/billionaire deal-makers. By the way, they all have her direct and personal number, and she has theirs — and so does, of course, that detestable Don Spectre and his vile lot.
Her eldest daughter is the type of woman Jessie had always desperately wanted to be had she not been presented with an opportunity not to be missed — to be the wife to Iña’s eldest son, who she assumed would be next in line to lead. (And she would make damn sure he would be the next in line too.)
Jessie realised early on, and her aunt made sure the information was drummed into her young mind, that she had landed a better deal through Iña’s first born son — and if she played her cards right, she just might end up in business after all.
And then, she’ll show everyone just how she can do business. Monkey business, I say.
In ending this entry before I go after the Goons … I’ll just mention this for everyone’s additional reference. And once again, this is from a business perspective.
A total bank withdrawal of US$96,267,773 was made in 2014 from February to August. A question was asked as to why such an amount existed as a form of a debt and what was paid — why, alarmingly was so much money suddenly paid out in significant lumps during the withdrawal dates mentioned.
I’ll venture to answer that question without actually looking at the contract and the books.
In 2011 when ground was broken, the project cost for constructing the enclosed amphitheatre was quoted at US$175 million. Usually a deposit will be required for the construction process to start. I will venture to guestimate the deposit amount to be 70% of the US$175 million, so let’s say US$122,500,000 was paid as the 70% deposit in 2011 when the contract was signed.
(That was about the time, everyone will recall, that everyone pitched in globally, and we had Don Spectre with his Old Guards and his globally placed lackeys break the “self-regulating and self-alarming system” to haul actual cash stealthily out of every country around the world, without the money ever following the usual bank deposit procedures, and without the money being carefully accounted for by the locales officers.
Every locale was depleted to almost zero when once upon a time, each locale was a significant customer of a bank, if not the largest depositor — until Don Spectre and his lackeys got to work with the assistance of his fan club members. Those conniving pilferers!
This was when alarm bells rang across the world — and when brave souls tried to raise the warning. All to be murdered expeditiously without justifiable reason by Don Spectre, the STF and all the filthy excuses of contaminated life-forms they controlled.)
The balance of 30% or US$52,500,000 would be expected a few months prior to the completion and on the completion date itself. So about a few months before the 100th Anniversary date, with the final payment expected immediately on, or after the handover date.
As there were several internal conflicts and hostilities as well as abuse in both material supplies and so called pseudo consultancy fees which impacted project management — the cost alarmingly jacked up another US$43 million to reflect the cost of US$218 million we all now know as the project cost publicised.
When you add the remaining 30% balance of US$52,500,000 and the jacked up charges of the additional US$43 million — you will get US$95,500,000 — given the exchange rate value difference between 2011 and 2014, and this year (and probably more dollars in envelopes payout and kickback payoffs, or even shopping allowances for Jessie and Don Spectre). That’s very close to the amount of US$96,267,773 reflected in the withdrawals made from that one bank where we now find proof of the so-called debt the STF and the Old Guards are desperately trying to hide.
(At this point, I must add truthfully that the bank mentioned is a very good, and much appreciated bank. It is not the fault of the bank — they would never leak any information, it is legally not acceptable, so the ones employed by the bank, who presumably must also be the ones heeding and deeply concerned that the “self-regulating and self-alarming” signals clamouring out loud have gone unheeded, unchecked and undisclosed — have presented the information at great risk to themselves TO BRING THE TRUTH OUT INTO THE OPEN.
The fault lies squarely with the jerks who manipulated this deal as a team!)
Here’s what I’ll tell you crazed lot, you rubbish STF boys with your low-class, materialistic, power-tripping Lord Rascal, your stupid Mr Gourmand and his demented sisters and mother, and you despicable Old Guards and henchmen of your Don Spectre! Stay out of messing with the money of the poor members I am concerned about, you bunch of predatory blood-thirsty wolves! Who do you think you are fooling! You think we are all as brainless, as stupid as idiotic as you are?!
And if you can’t control those who venture to sound the alarm non-stop, and write of the atrocities you’ve committed — who are you gonna call to arms? Ghostbusters? Your inbred Goons?
Ah yes, and at this point … let’s find out if a hostile in-house army really exist?
…/ Suffer the Children … and Behold