Opposition politicians and some bloggers have been heavily criticising the Monsoon Cup which is set to run on 27 Nov – 2 Dec 2007 in Pulau Duyong, Terengganu… but is Monsoon Cup really that bad?
FYI, Monsoon Cup is the last stage for this season’s World Match Racing Tour, a Grade 1 event recognized by the International Sailing Federation (ISAF). Although sailing is not popular in Malaysia, the event is not as insignificant as some politicians claimed.
I can remember the criticism about organising F1 in Malaysia prior to the first race in Sepang, but organising the F1 race is probably one of the best decisions Malaysia has made in the 90s. The return is not just the financial gain during the race, but involves global branding which could help attracting foreign visitors (and probably investors) constantly.
The popularity of sailing is probably far behind motor racing, but it does attract a special niche of people, and the impact of the Monsoon Cup should not be taken lightly. Thousands of foreigners will be flocking to Terengganu, and the event will be covered by foreign press and shown in popular sport channels like Sky Sports, Eurosport and ESPN etc. It does put Malaysia on the global map for good reasons.
Is it worth spending RM300 million for Monsoon Cup?
The arguments however, are on the cost of organising the event, and how the money was spent. It’s said that the event would cost RM250-300 million, funded by Wang Ehsan i.e. the royalty from oil and gas for the state of Terengganu. [Read more from MP Kit and MP Ronnie]
RM300 million might be worthwhile investment for Monsoon Cup if the fund is spent at the right places, but the biggest problem with government funding issues is the lack of transparency… Malaysians are constantly kept in the dark on how the money was spent, thus speculation about possible corruption is inevitable.
- Does the RM300 mil involved the building of public infrastructure, or does most of it went into the pocket of the organizers and some rich and (in)famous?
- How the organiser is profiting from the event? Does the organiser have to face any financial risks running the event or that they are guaranteed to make money from the government funding?
- What’s the backing behind government’s decision to release the fund? Was personal relationship involved (hint: KJ, son-in-law of Badawi)? Was there any proper research to backup the proposal of organising the event?
Many questions will remain unanswered. Yes to Monsoon Cup… but nay to government’s fund management.