Monday, 22 September 2014

GST Tourist Refund Scheme - An example of a Good Idea, Bad Choice & Ugly Moves

IRIS Information Technology System Sdn. Bhd. joint venture with Global Blue S.A from Switzerland to secure Tender 4/2014 as Approved Refund Agent under Tourist Refund Scheme (TRS). Letter of Award (LOA) from Jabatan Kastam Diraja Malaysia for a total investment of RM155,092,000.00 . Global Blue S.A has operating units worldwide and the leading international provider of GST Refund Services in 37 countries worldwide. The joint venture company, IRIS Global Blue TRS Malaysia Sdn. Bhd. (1073169-T) was incorporated on 9th. December 2013 with authorized capital RM5,000,000.00 for the purposes of the tender. The equity shareholding of Global Blue S.A owning 49% and IRIS Information Technology System Sdn. Bhd. 51%. Managing Director nominated by Global Blue and the assistance from IRIS Information Technology System.

LOA mentioning, term of 3 years + 2 years subject to performance. IRIS Global Blue TRS Malaysia Sdn. Bhd. will be paid an administrative fee of 15% from the GST Refund Services (refund value). after failed to deliver Malaysia Fuel Subsidy Scheme and failed to explain why, again IRIS being awarded. This time they are smarter as they are hiding behind TRS specialist Global Blue from Switzerland. What makes me wonder, does or does not the Malaysia Government have any criteria to blacklist any company or contractor which failed to deliver? This is a good example of incompetency from the government agency. What make they think the system will work this time? Hopes only for Global Blue? How about the biggest share holder, IRIS The Failure?

Seeing to this scenario, any non performer company will have their way in the system forever and will make the whole country incompetent as well. A Clown will lead another clown and turn the whole country as a states of clown. This is bad. I believe, Malaysia has countless performer. Countless smart and competent company which can deliver. Are the government so desperate to award this to the known failure? I really don't understand on what ground they award them the tender. I strongly believed because of Golden Blue involvement but unfortunately IRIS is behind it all.

There will be a time when incompetent people seem to be getting the best. When that happens, we have to be patient and wait for them to self destruct. It never fails. The first proof of a person's incapacity to achieve is their endeavoring to fix stigma of failure on others. If you got what I mean.......

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