An old friend dating back to the days when we were both young and broke, needed help earlier this year.
He had been involved in a development project in the outskirts of Kuching and he and his project were sinking. He needed half a million ringgit to “tide him over” until certain funds came in a few months later.
Never mind the fact that when he wanted to launch his project three or four years ago, I advised him to forget about building high-end residences at that particular location. He should just build medium cost houses, cash out and move on to his next project.
But this guy is also an architect – an idealist and a dreamer. Nothing wrong about that except that you don’t build what you want. You give customers what they want.
Well, the 3-month loan has been long overdue. I actually had forgotten about it until the good friend called last week and asked to meet up “urgently”.
I wasn’t expecting repayment, honestly. But I didn’t expect the guy to ask that I took over his project lock, stock and barrel immediately, before he got into serious trouble, and helped him out of his misery. The whole rescue plan could cost up to RM50million.
At this point of my career, I am not about to take over someone’s problem and happily let it become my own.
We never got round to discuss repayment of the RM500k loan, obviously.
I have heard of men keeping little black books recording names of all the women they have dated or conquered.
I have a different version – a big black-leathered notebook with names of people who owe me money, over the last 15 years. As I poured over the pages, I don’t know whether to laugh or cry.
I wasn’t doing all that great 15 years ago, but I did have some cash to spare, so now and then I would lend it to some “needy” friends.
There was a lawyer friend who wanted to make a fortune by buying and selling newly launched houses. He couldn’t get full financing from the banks, so he needed RM250,000 to secure a couple of new properties. Those properties have since been sold, but I have yet to see my money back.
There’re a few more lawyer friends who always seem to be short of funds.
I should be glad I didn’t join the legal profession (although I graduated with a law degree) if their financial standing is any indication of the profitability of the legal practice.
A business associate took RM1million loan to invest in a business five years ago. That business has soared, but the money has only been partially repaid.
There are a few friends who wanted to start out on their own. I thought my little contributions would help. I have yet to see any return on those “investments”.
There are also relatives who always seem to be in dire need. A niece in Singapore recently bought an apartment as her new marital home. A relative had overspent and he needed me to clear his credit card bills before his wife found out. A sibling now needs capital to open a new restaurant in Sibu.
Well, the list goes on…and all these “deals” have my unwilling fingerprints on them.
Deals which are funded by me, to be exact.
Am I any wiser after all these years and experiences? I don’t know.
I always tell myself, after each experience, that it would be the last time. Until the next one comes around.
