00:00And today I read a report that the Minister of Transport,
00:06Mr. Anthony Loke, has given an image that the government is considering
00:11using IC or MyCard as an element or a way to differentiate the price at the pump.
00:19Maybe you want to talk about that for a while, KG?
00:22Because in my opinion, it's nice in theory, but in practice,
00:27when I read the research, this thing is prone to abuse.
00:31It means that we use other people's MyCard to fill our car's oil.
00:35Secondly, imagine the time. First, you have to check,
00:40you have to enter the IC in the machine, maybe it's an additional time.
00:43I don't know how fast.
00:44Imagine the system required.
00:45Yes, the system.
00:46And every pump.
00:47And the expenses at each pump.
00:48Yes.
00:49So, the cost, time, the time at the pump itself,
00:52and there's also a big risk.
00:57And maybe cash is still the best way.
00:59Cash transfer.
01:00Cash transfer.
01:01Whether it's through actual cash, maybe not through cash,
01:04but it's in your wallet or bank account.
01:08And the problem is, everyone has to pay the market price.
01:12That's the problem.
01:14So, maybe a one-off initial transfer, so that you are in cash flow positive.
01:19Meaning, on day one, the government gives you 85% of the subsidy,
01:26whatever, RM1,000 or RM2,000.
01:28And then from then on, that's it.
01:30One time only.
01:31Then after that, it's just a top-up.
01:34Or I give you cash.
01:37But when you pay the pump, you have to pay the market price.
01:40Whichever government, not just this government,
01:43but this government is always afraid of the effects of psychology.
01:47When people have to pay the market price at the point of sale.
01:51They want to pay the subsidy price.
01:53They don't care if the cash has been transferred.
01:55Because for them, there's a disconnect between what you receive from the government.
02:02I mean, if we're honest, BRIM, which was started by Datuk Srinajip,
02:06that was actually given to compensate for the effort to pay the subsidy.
02:11But in the end, people depend on BRIM as an entitlement.
02:16And they forget that BRIM is the government's effort to help,
02:20to compensate for the government's effort to pay the subsidy.
02:23Same.
02:24Unless there's a way, and this is a bit complicated,
02:26but unless there's a way for every month,
02:29it's not given the same amount of work,
02:31but some sort of cash rebate based on how much you spend.
02:34So it becomes like GST.
02:36It used to be a clawback.
02:38So is there a way to do that?
02:41But it's easier and less risky compared to using MyCard or CAD.
02:46There are a few points that we can discuss,
02:48but I don't want to run away from the issue of cash on dividends.
02:51Because whether you like it or not,
02:53a lot of people will say, why do we want to pay a lot of money?
02:55But the reality is, I'll give you an example.
02:58If we have to pay cash on dividends because we own a Maybank stock,
03:06and we get a big dividend because we're rich,
03:10now we'll think,
03:12if I buy a Maybank stock, I'll usually get a 6-7% dividend.
03:16It's better if I move to a DBS or OCBC stock in Singapore,
03:21because this exception includes the income dividend I get from overseas.
03:27So you don't have to pay that?
03:28I don't have to pay that.
03:29So I'm sure this isn't PMX's intention.
03:31But the rich will...
03:32But the rich will...
03:33They'll move their capital from the blue chips here to the blue chips there.
03:37To the blue chips there.
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