Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Saturday, July 16, 2016

Will UMNO hold fast or relent?

This kind of blackmail is typical of how UMNO is afraid of losing support so they bend backwards to help even if they don't deserve it or did nothing to resolve their own shortcomings. Always threatening to withdraw support if they don't get their way. So damn childish. If I'm not mistaken this government is a pleaser to be assured of retaining power. In a real sense they are held to ransom by groups who don't deserve any sympathy or aid. The government is more respected if they stand firm to what are legally and morally binding in the interest of the rest of law abiding population.

See video HERE. Allow Uber, lose votes from taxi drivers, government warned.

Sunday, January 17, 2016

This is not good, not good at all .... for us.

Malaysia’s faltering economy, hit by claims of “rife corruption” at the government level, is a sign that foreign investors should steer clear, a financial adviser says today.
In an article on the website of Nasdaq, the electronic US stock exchange, Peter Kohli said previous positive news regarding the Malaysian economy had been affected by allegations of corruption at the government level. 
“Malaysia’s economy is not firing on all cylinders,” he said, noting news reports in November that industrial output had slipped."
“I have written previously about Malaysia becoming a manufacturing hub for companies like Hyundai, but that positive news has been tempered with allegations of rife corruption in the government.”
Kohli, who is CEO of DMS Funds, said news of a RM2.6 billion political donation transferred into Prime Minister Datuk Seri Najib Razak’s personal accounts in particular have not helped investors’ confidence.
Other factors making Malaysia unattractive were the ringgit’s position as the worst performing Asian currency against the US dollar in 2015, and the slump in world oil prices. 
“I wish I had better news, but as long as the economy keeps contracting, foreign retail investors should stay clear. Look to Malaysia’s southern neighbour, the Philippines, as a better bet,” he said in the article.
Najib, who denies any wrongdoing, recently announced an impending revision to Budget 2016 in light of the country’s falling revenue from lower oil prices and uncertainties in the global economy.
The prime minister said the national budget needed to be “more realistic” and in line with the current economic situation, adding that outside factors beyond Malaysia’s control had influenced the economy, not the mistakes or weaknesses of the country.
Najib has been under fire over allegations of corruption and financial mismanagement related to his brainchild, state-owned investment firm 1Malaysia Development Bhd (1MDB), which had racked up debts of more than RM45 billion.
Elsewhere, a Bloomberg article quoting government estimates said Malaysia as Asia’s only major net oil exporter risked losing RM300 million for every US$1 per barrel drop.
The ringgit, Asia’s worst performing currency in 2015, slumped 19% last year and reached a 17-year low of 4.48 a dollar in September. – January 16, 2016.
[Source: The MI]

Saturday, January 16, 2016

Woe unto us!

IT'S DEPRESSION NOT RECESSION WE ARE LOOKING AT.  WHAT HAVE WE GOT TO SAVE US, ONLY PALM OIL AND THAT TOO IS IN THE DOLDRUMS.  OIL IS NO MORE THE SAVING GRACE.

It is not a recession that we are in, we are headed for another depression and that is even worse, and to compound that Malaysia is in more difficulties than it has ever been, with those in power lavishly enriching still themselves.

Now the twenty dollar mark for the price of oil looks a real possibility and this careless government has plundered all the resources instead of saving for the rainy day.

I remember back in the early eighties or late seventies Kit Siang asking the government to be more prudent with its oil reserves, he warned that the then wells would run dry within 15 years, but alas these fellows kept pumping and using the money on wasteful projects they thought the price would keep spiraling with the times.

Now with auto makers stepping up the fuel efficient cars and even electric hybrids the demands are going to fall even further in the next ten years petrol will be no big deal at all.

Mahathir almost single single handedly destroyed our Agricultural base with assembly plant type manufacturing that added no value to our industries, today those cheap labour sweatshops that we used to work in have all gone to cheaper markets and they are never coming back.

Robotics is the order of the day, you can manufacture in the US at even a cheaper rate than you can here even if the cost of labour is US$0.20 per hour that is how it is, we have lost our competitive advantage,

We sacrificed our education system no thanks to the clown in UMNOI who held the position and engineered it, we are not a nation of inventors and innovators we are not even copy-cats we are starring destruction right into our faces.

But then we are Malaysians given the right governance we can strike back, we can fight back and we can win, but to do that we have to cast the present day government into the dustbins of history.  We have to do what is necessary as citizens of this country come GE14.  If we don't, our children and our children's children will never forgive us.

 It is already telling prices are sky rocketing, Najib is forced to re-look his budget, my bet is his departments budget will still be high, he will instead cut on education and health the budget of an idiot from an idiot.

Monday, January 4, 2016

Obama's economics?

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The professor then said, "OK, we will have an experiment in this class on Obama's plan".. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for dollars - something closer to home and more readily understood by all).

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.

The second test average was a D! No one was happy.

When the 3rd test rolled around, the average was an F.

As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. Could not be any simpler than that. (Please pass this on) These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

Above sounds familiar?

Friday, June 5, 2015

Now, even the royalties are angry with Najib

The so-called warrior did not show up this morning at the PWTC for the scheduled 'Nothing To Hide' forum, presumably out of fear for Dr Mahathir who had plans to grill him thoroughly over the 1MDB scandal.  As usual, he always have a ready scapegoat to take the fall and this time none other than the IGP himself.

Quite frankly, Najib's behaviour has become very predictable.  Even as the forum was announced, many had already voiced their takes that Najib would not show up, and true to his character, he did not show up.  However, the person who was most unlikely to show up, showed up, Dr Mahathir himself.  Well, he managed to give a short intro before the police came in to stop him from speaking citing security reasons.

Even worse, Najib's behaviour did not go down well with one royalty too and that is the Tunku Mahkota of Johore, DYAM Tunku Ismail Ibni Sultan Ibrahim.

With his absence, it further entrenches the belief that Najib has a lot to hide and would not be able to answer all the questions especially those coming from Dr Mahathir himself.

Najib is truly screwed!


Wednesday, April 1, 2015

It is finally here .... GST !!!

Let's sing along to the tune of the Christmas carol, "Santa Claus is coming to town".


Wednesday, October 22, 2014

The Indians have arrived.

 
If you are doing MBA in business management here is something that you won't find  in text books.  But you could  write a best seller.  This itself could be one.  'LESSONS ON INDIAN INGENUITY. AND, GETTING DOWN TO BUSINESS  WITH PRAYERS. 
 
 
 
A great case study for all management students!!
 
ONE CAN’T BEAT THE INDIAN INGENUITY – AT BEATING A SYSTEM
 
The world started taking notice of the ‘Indian Ingenuity’ about the time when software professionals were needed to help businesses with the Y2K issue. After that, our IT engineers started spreading their wings all over. Everyone has now accepted that India had arrived on the brain map of the world. But we know that this was not the real beginning - our ingenuity has a long history.
I would like to share one incident with you, which took place on one of my flights to prove my point. It could become a case study for any good business management school/ college. You can decide about that after you read the story.
 
THE FLIGHT

This happened on one of my flights when I was flying the Airbus-310 in Air India to the Gulf. It was on Jeddah – Mumbai sector some time in 1987/88. This was way before 9/11 attack on the World Trade Center. Terrorism had not shown its ugly face on the flights yet.   The atmosphere on the flights used to be very cordial and friendly. I used to follow a  routine  on all my  flights which I continued with  till my retirement in 1998 . After reaching the designated altitude and settling down for some time, I would handover the controls to my co-pilot and take a walk around in the aircraft. I would go right up to the tail section of the aeroplane to meet the passengers on board and the crew as well. This habit of mine kept the cabin crew on their toes and the passengers were happy to see their pilot mixing around with them. The fear of terrorists, terrorism was unheard of. Those were the wonderful and blissful days of freedom on board the aircraft.

On this particular flight, when I reached the tail section I found a very strange group of people. They were really odd looking passengers. Some of them were maimed, some looked polio affected or with some deformity.  They all were dressed very poorly. They did not look like Gulf returnees. After flying in the Gulf for a long time, we could make out a Gulf returnee at first glance.  On seeing such a crowd  I asked our In-flight Supervisor if these people had asked for some sort of help on landing .The answer  was ’No’. A normal passenger in such a condition would certainly ask for a wheelchair.  All that looked very odd to me.  So after my round when I got back to the cockpit it kept bugging me about that odd group. I thought that I must investigate more about them.

So after some time I went back again to the tail section of the aircraft and asked the purser who was working in that section about the group .He told me that the group had two persons looking after all of them. I met those guys and started talking to them. I asked them where are they from. On seeing me in uniform they were very reluctant to talk to me. On persisting one of them said that they were from Eastern UP.  I told them that I had also stayed in that part of our country for some time when I was posted to Air force Station at Gorakhpur .They could not believe me as one of them was from Gorakhpur. After exchanging few notes they were convinced that I was telling the truth. Then the next thing I asked them was if they wanted to see the ‘Hawai Jahaj’, the airplane. Of course, they were keen. So I took both of them to the front and showed the cockpit from the door. On seeing all that they were just speechless. By now they were very much at home with me. Now when I asked them a few more questions, the whole story came tumbling out - and what a story that was!  What I heard was just mind boggling.
 
THE STORY

The group was of about 25/30 people. They were all Muslim beggars from Eastern UP. They were brought to Jeddah for ‘UMRAH’ pilgrimage before the start of the month of  ‘Ramadan’  by their ‘Bade Chacha’ who was sitting up front somewhere. Now they all were going back after ‘Ramadan’ and after the Id celebrations, There is NO problem about getting their passports and other permissions as there is no quota for ‘Umrah’ pilgrimage. They all stayed in a cheap ‘Musafirkhana’ in Jeddah. Their ONLY job during their stay at Jeddah was that during ‘Ramadan’ every evening they had to go and BEG in front different mosques in the city. At the end of the day all the money that was collected by them would be handed over to the ‘Bade Chacha’. Nothing more was required from them. After they reached their homes in India, they all would be given Rs.10,000 / (Ten thousand) cash. That sort of money they would never see again in their life. When they told me how all that was done, I had to salute the INGENUITY of their ‘Bade Chacha’.
 
MODUS OPERANDI

This is how the things worked.  The BOSS (Bade Chacha) used to collect 25 to 30 Muslim beggars in UP well before the beginning of ‘Ramadan’- month of fasting.  He would have no difficulty in getting passports/Visa for them from the Lucknow Passport Office. Any Muslim could apply for ‘Umrah’ pilgrimage at any time as there are no restrictions on their travel. He would then approach Air India through his travel agent for a group booking asking for the cheapest rates which he could get. After reaching Jeddah he would accommodate them in the cheapest ‘Musafirkhana’. As there is no big rush like the HAJ time, he would have no problem on that. He would spend very little on that account. Food for all these people would come from different mosques, where food is distributed to any one before the sunrise and after the sunset. Expenses on food during the day are nil as all of them are supposed to be fasting. So for the whole month of Ramadan feeding this big group was NO big problem.

Now during Ramadan, before breaking their daily fast the local Arabs would like to dole out alms (big amounts) to the needy and poor. So all these people would BEG in front different mosques and the money collected would be given to the Boss. After Ramadan there would be Id celebrations where these people would earn even more. So after a nice stay of more than a month in Jeddah they would head back home. A very smart operation performed by any standard.

After a long chat I told them to get back to their seats with a promise that they will introduce me to their ‘Bade Chacha’ after landing.
 
AFTER LANDING

After reaching Mumbai when we, the cockpit crew, reached the customs hall, I found my friends with their Bade Chacha waiting for their checked in baggage. So I went and met the boss. He looked like a very nice and docile man. When I asked him about his activities, he told me that he was doing all this for these poor people. They would never get a chance to do the HAJ pilgrimage so as good hearted man he was doing all this. I told him that I very much appreciated his good deed and we parted.
While going back home I started thinking about the whole flight and my encounter with this group of people.  I found that this to be a fantastic case of WIN - WIN - WIN situation. Going over in my mind I realised that every single person is happy in this story.

The Arab who doled out alms to the needy before breaking his fast during Ramadan was very happy for doing some good deed for that day.

The Muslim Beggar, who could never have imagined a plane ride and the religious pilgrimage, was able to do so. Then for more than a month he had a food feast! Free of charge. On finishing the whole trip he would be given ten thousand rupees cash in hand. He would be the happiest man on the earth.
Now about the ‘Bade Chacha’. When we all thought and calculated about the whole operation we realised that this man even after taking care of all the expenses for the group must have earned a cool amount of ten to twelve lakh of rupees per trip. One can imagine the value of that in 1987. So he too would a very happy man.

The events on this whole flight got me thinking .Every single person involved in this story was happy and satisfied. But there was a tinge of exploitation somewhere at some stage. I could not pin point it where! So I wrote an article on the episode which published in one of the Marathi news papers. I thought I had covered all the angles of the story. BUT that was not the case!
 
TAIL PIECE

After about a month when I was going on a flight, one of the Immigration officers came to me and asked me my name and then introduced himself.  He had read my article in the newspaper and he wanted to talk about that. The information he came out with was even more baffling and much more interesting.  Since he was working at the airport, his info was very authentic.

This was the time when Indian economy had not opened up to the world markets as yet. Gadgets like Washing machines, VCR’s, TV’s were very much in demand. So the travel agent who had booked this group would import such gadgets on their names as ‘UNACCOMPANIED’ baggage later on. Those poor people would not know anything about this at all. The custom rule was that passengers can get such stuff into the country within three months of their arrival date. So very thing was proper and legal. There was a ready market available for such items which would be sold with very big premiums. So now the travel agent and few officers shared the loot. This was the fourth or fifth angle to my story. MIND BOGGLING.

I hope now you will agree with me that this qualifies as a case study for any Business Management school/college. This was a Win-Win-Win-Win situation, everyone is happy in the end.

One thing is for sure, you can’t beat the INDIAN INGENUITY at beating a system.    

Friday, October 3, 2014

How much more can we tighten our belt?

Many of my friends I have spoken to, that in view of the price hike in petrol and diesel, we must adapt, change our lifestyle, be austere, cut the clothe according to our size, blah, blah, blah. Now what if a person has only one car to get by. Does he need to dump that old jalopy and opt for a bicycle? Forget about Starbucks, McDonalds or KFC, what if the person had been eating at the mamak stall (and I don't even mean a shop), does he need to cut back to eating plain biscuits and water? A person would have already cut back to eating two meals a day. Does he need to cut down to one? If a man is already married with four wives, does he need to divorce three to reduce it to one? What about those who could only afford a single storey terrace house. Does it mean, he would have to sell off the property to buy an attap house?

I feel this is the beginning of a long nightmare for many of us with those severely affected will be the low income earners, pensioners and senior citizens. What's the big deal about BR1M when they give it to you with one hand and rob you with the other?

We have already adapted from the many price hikes in the past. How much more can one adapt when we have nothing more to adapt to?
Best of luck, everyone.

Thursday, September 5, 2013

The fat cats of BN

The following statements made by some of our BN leaders inadvertently reflect the bourgeoisie attitude towards the common people of this nation. It is a common knowledge that with the increase in petrol price, a domino effect on all goods and services will follow suit, and there is simply no escape from it.  In the end, it is the people who will have to cough up the difference for survival.  Without a doubt these BN leaders have never been poor in their lives as otherwise such callous statements would not have been made.  It also shows how much they have lost touch with the common people.  How could they know when they are the 'fat cats' living in posh homes, chauffeur-driven around, eat at expensive restaurants and earning a sizeable salary.  By the way, the BN fat cats are in no way cute.


"The hike in fuel pump prices will only push food prices us by 0.1 percent.
We have done our best to ensure that any move to reduce subsidies would not unfairly burden traders. As such, we see no reason for them to mark up food prices as a result of the rise in fuel costs." 


Chua Soi Lek said the people need to understand that a gradual subsidy cut is part of the subsidy rationalisation process in stabilising the economy.


Nazri Abdul Aziz has described suggestions that cabinet ministers pay for their own petrol as a "stupid idea".  "I want to rebut that stupid suggestion by (Rafizi). He is a stupid kid." 


"Petrol prices have gone up, but it surely would not burden the rakyat as the only people with big cars are prominent figures who can afford it. Kampung people don’t have cars,” Slammed within seconds, Bung has had to contend with a stream of annoyed Twitter users, including @ayeemin who scathingly said: “A car is not only for the rich. Today, it is a necessity. But having two wives is only for the rich.”


Tuesday, March 26, 2013

Economic Management During Political Transition



Date : March 12 2013
Venue : The Renaissance Hotel, Kuala Lumpur

Keynote address by YB Datuk Seri Anwar Ibrahim

Malaysians face many uncertainties as they prepare for the nation's most challenging elections yet. It is becoming more and more evident that Barisan Nasional's grip over the country is the weakest it has ever been throughout its 55-year history.

Regardless of whether it survives GE-13, the mood is such that Malaysian politics will never be the same again. The regime will now have to deal with a younger, more dynamic and daring generation of voters, the complete opposite of the demographic it has been most used to dictating over the many decades it's been in power.

And if the opposition Pakatan Rakyat were to wrest power, a key question that remains unresolved in all this is the fate of Malaysia's economy throughout this wave of transition. Taking into consideration the fact that finance and trade has been for so long driven primarily by a one party system, democratizing the economy will be a priority. How can we ensure that economic policies remain inclusive? What are the values and objectives that will guide the transition? Will the free market be Malaysia's destiny?

Malaysia has the potential to reflect deeply and meaningfully on these questions because of the unique and advantageous regional context it's in. The fall of authoritarian regimes in Indonesia and the Philippines in recent history shows that there may be a wealth of lessons Malaysia can learn from its neighbours. Should liberalization be the default solution to mend the inefficiencies of authoritarian economic rule? Or can more robust and just welfare oriented policies be put in place?

It is to reflect on these questions and more that Penang Institute, Institut Rakyat and the Islamic Renaissance Front have come together to organize a seminar on "Economic Management During Political Transition: Experiences from East Asia and Eastern Europe".

Wednesday, October 19, 2011

Pakatan will bankrupt the country but Idris Jala said otherwise

The following is an extract from the Malaysia Chronicle which appeared in its news report on October 16 2011:

Muhyiddin said the opposition was only good at making empty promises. He pointed out that when Prime Minister Najib Razak tabled the 2012 Budget, he had promised to retain the country's deficit at 4.7 per cent of Gross Domestic Product. Yet Pakatan de-facto chief Anwar Ibrahim made a mockery of it.

"The shadow budget by the opposition shows its expenditure, purportedly for the people, but it does not take into account the deficit. If the deficit goes up to 10 per cent, it means the country is not managed well," Bernama reported Muhyiddin as saying a day ago.

Following this report, PKR Chua Jui Meng refuted the claim and said that UMNO was the one who was more likely to bankrupt the country rather than Pakatan. Muhyiddin surely has a short memory. Didn't Idris Jala said that if the government does not take stock of its debts, the country will go bankrupt by 2019? See full report here. Knowing that we will be undergoing such calamity, do we still want to vote for UMNO to run the country for another five years? Naaaah!

Sunday, September 25, 2011

Muhyiddin, eat your heart out

The Selangor government said they agreed with Deputy Prime Minister Muhyiddin Yassin that Pakatan Rakyat's rule in the state has been a torture to certain segments, namely the “Umno-BN cronies”.

“This sector (who are said to have suffered under Pakatan rule) are the cronies and family members of the Umno-BN, who have been reaping their wealth from the state through directly being awarded projects, acting as middlemen or through their lobbying,” said Faekah Husin in a statement today.

NONEThe political secretary to the Selangor Menteri Besar (left) was commenting on Muhyiddin's statement yesterday, that she said showed that the ruling party was “increasingly desperate to gain the sympathy of the people”.

“Maybe this is what the prime minister meant when he said that Umno members like to 'syok sendiri',” she quipped.

Muhyiddin had said at BN State Assembly Backbenchers Club's retreat in Selangor that the people of the state had had enough of life under Pakatan rule and were ready to support the BN again.

Faekah commented that such people would include businessmen who were fond of bribing public officers and politicians to get help and special treatment, and to take advantage of certain policies such as the low cost housing policies that had been abused by some to reap huge profits.

“What's worse, under the Umno-BN government projects were completed with an eye to oppressing the poor even further,” she said.

Cronies 'beyond the law'

Faekah said that during Umno rule of the state the businessmen allied to the ruling party had become “all too powerful”.

“While Umno-BN was in power, these businessmen were all too powerful that they did not fear the law, as they knew they had the permission and 'protection' of the policians who condone such criminal activities.

khir toyo mansion 060709 06These parties did not have the capital nor the expertise, she said, and only needed to flatter the ruling politicians to get the jobs.

“These types are not ashamed to visit and hang out at the politicians' offices. This scenario has been taking place since Muhyiddin was Johor Menteri Besar and the filthy practice still continues till today,” she said.

The political secretary elaborated on how cronies would get huge projects to the tune of millions of ringgit, and immediately sell it off to the highest bidder to reap a tidy commission.

She said such days were over with the Pakatan government and that most Selangor residents were happy with their administration for this.

“From our polls, Selangor residents are happy with our style of governance that does not allow such groups to hang around the offices of the menteri besar or the senior officers. This phenomenon was widespread during Umno's time,” she said.

She said it was natural that such groups were unhappy with Pakatan rule, as they are no longer able to “bodek” (suck up to) the politicians for favours.

State reserves at 28 year high

Faekah challenged the DPM to ask the ordinary people instead, who have benefited from the state's policies.

“In the past four years we have spent over RM500 million on the rakyat, for example through the free water scheme.

“Why would these recipients feel tortured by Pakatan's welfare programmes that they are enjoying?

NONE“It is very shameful when the number two in our country and the number two in the party makes such ridiculous statements that only embarrass himself,” said Faekah.

Meanwhile Selangor MB Khalid Ibrahim (left) said the state coffers has achieved a record high in 28 years.

“The Selangor reserves totalled RM918 million through 2010 and in the six month period of 2011 has increased by as much as RM200 million, making the total cash reserves for Selangor RM1.1 bilion,” said the MB in a statement yesterday evening.

Khalid announced this in conjunction with the three-day visit of the Yang di-Pertuan Agong dan Raja Permaisuri Agong to the state.

“His majesty was also informed that the Program Merakyatkan Ekonomi Selangor that was introduced over the 100 days since the present administration took office has channeled as much as RM500 million back to the rakyat of Selangor,” said Khalid.

The MB said he brought this to the Agong's attention because their successes and their programmes for the rakyat had “received little publicity, because the mainstream media are 'too careful' about reporting such positive news”.

[Source: Mkini]

Muhyiddin forgets that UMNO have been tortuing the non-Malays for decades depriving them of education, employment and government projects opportunities, but it's okay, we get by. Here the Selangor state government have been doing something that benefit the rakyat, and he is complaining that he is being tortured. Simply put, he has been living in that ivory tower for far too long. Well, for the UMNO cronies, like they say, it's time you shape up or ship out. With a total cash reserve of RM1.1b, I bet those UMNO fellas must be drooling like mad.

Saturday, September 10, 2011

Selangor Records RM5.2 Billion Investments In First Six Months Of 2011

Are we going to hand this over to certain corrupt politicians at the 13GE for it to be pocketed and abused? We must make sure that this does not happen.

Selangor recorded investments of RM5.2 billion in the first six months of this year.


In a statement on Friday, the Selangor Menteri Besar's office said the state received foreign investments of RM3.1 billion with local investments at RM2.1 billion.

"A total of 135 projects were approved from January to June this year and this opened up 9,847 job opportunities.

"Of the 135 projects, 89 were new investments and the remaining 46, existing ones being expanded," the statement said.

According to the breakdown by sector, the electronics manufacturing industry posted the highest investments at RM1.3 billion.

Japan was the biggest investor in Selangor with 13 projects involving an investment value of RM1.136 billion, followed by South Korea at RM652 million with three projects and Singapore with RM510 million (eight projects).

Menteri Besar, Abdul Khalid Ibrahim, said the amount showed a high level of confidence among foreign and local investors towards the state government.

[Source: MM]

Tuesday, June 14, 2011

*Sigh ......*

Spending like there is no tomorrow, is this what UMNO called a welfare state?

Read more here.

AND UMNO IS STILL WONDERING WHY THE RAKYAT HAVE DECIDED NOT TO VOTE FORE THEM COME GE13!

Monday, January 31, 2011

RON97 up 10sen from tonight

Well, what do you know. All those concerns shown by UMNO for the poor rakyat, especially those from Tenang, flew out of the window the moment the by-election was over. So, they won back the seat, and without blinking an eyelid, up goes the petrol price. To the good people of Tenang, I hope you guys are happy now.

The prices of RON97 petrol will be increased by 10 sen effective midnight, said a government source today.

With the increase, RON97 petrol will now cost RM2.50 per litre (previous RM2.40).

This is the fourth month in a row in which the price of RON97 had been increased.

The price of RON97 rose to RM2.15 per litre on Nov 2, RM2.30 per litre on Dec 1, then RM2.50 on Jan 4.

The price of RON97, mostly used by high-capacity cars, is controlled through a managed float.

The managed float was introduced last year while a new but lower quality grade of petrol, RON95, was also introduced and is currently priced at RM1.90.

Earlier last year, the government through the Performance Management and Delivery Unit (Pemandu) had been trying to prepare the public for cuts in subsidies for essential goods.

Pemandu argued that subsidy cuts, which it dubs "subsidy rationalisations", was necessary to reduce a burgeoning government subsidy bill.

However, critics argue that subsidy cuts would affect the lower income group and cause inflation.

They say that the government should instead go on an austerity drive, swiftly plug leakages and stamp out graft.

[Sources: Mkini]

Thursday, January 20, 2011

Congratulations are in order for Guan Eng and his team

Like they say, "the proof of the pudding is in the eating". UMNO may brand LGE for being anti-Malay, anti-Islam and all that jazz, but the results speak for itself. The following report is from Harakah Daily.

Penang has come up tops for capital investments in the manufacturing sector last year by contributing 26 per cent of the total investment in the country in 2010.

According to figures released by Malaysian International Development Agency (MIDA), the Pakatan Rakyat ruled state has increased its investment by a whopping 465 percent from RM2,165 million in 2009 to RM12,238 million in 2010.

“The significance of this historic achievement is highlighted by Penang's contribution of RM12,238 million to Malaysia's investment constituting 26% of Malaysia’s total investments of RM47,177 million in 2010,” said chief minister Lim Guan Eng in a statement to Harakahdaily.

Lim added the state had moved up to occupy the highest ranking in 2010, from its fourth place in 2009. Selangor came in second with RM10,641 million in 2010, a 50 percent increase from RM6,759 million in 2009.

Other PR-led states Kedah and Kelantan also saw increase in capital investment, with Kedah registering 30 percent more investment (RM1,960 million) in 2010 and Kelantan 34 percent more (RM169 million).

Penang leads

Lim said the 465 percent increase in state investment was a reflection of investors’ confidence towards the state's human capital, as well as an affirmation towards the state government’s strategy of promoting Penang as a choice destination for investors.

“Penang believes that competency, accountability and transparency (CAT) has also built confidence that a government with integrity can make things happen and both execute and deliver," he stressed, and added that Penangites could now proudly proclaim that "Penang leads".

He also said the state had received praise in the recent Auditor-General's Report and from Transparency International.

- Harakahdaily

Tuesday, January 18, 2011

Poor English skills bad for economy

A nation’s economy is only as good as its education system. So powerful is education that even the subtlest tweak has the propensity to either elevate or relegate a nation on the global stage.

Policy-makers therefore tread with great care when proposing policy amendments, acutely aware of the staggering impact their decisions would have on the country’s future.

Malaysia’s policy-makers, however, appeared to have lacked this attention to detail when deciding to reverse the teaching and learning of Science and Maths in English (PPSMI). And that move has placed Malaysia’s economy on shaky ground.

Cheong Kee Cheok, a Senior Research Fellow with the Faculty of Economics in Universiti Malaya, expressed grave concern over the system’s failure to produce the human resources needed to propel the country forward. And this, he warned, would severely cripple the flow of foreign direct investment (FDI) into Malaysia.

“One of the benefits a country reaps from FDI is the acquisition of technology,” he said. “But we can only acquire it if we speak the language of technology, which is English. Unfortunately, we are losing out to the Thais, Vietnamese and Chinese in our ability to communicate in English.”

“We have enjoyed FDI for 30 years but what technology have we acquired? To a certain extent, piracy is a key indicator of a country’s technological prowess. China is able to pirate almost anything whereas our piracy is limited to DVDs.”

The inability of a nation to acquire a certain strength leaves it no choice but to be dependent on other nations. This stagnancy will gradually reduce its competitiveness and eventually ease it out of the economic supply chain altogether.

“Our lack of technological expertise will dissuade technologically capable industries from investing in Malaysia,” Cheong said. “Right now we are still locked in a supply chain but our position will shift as other nations become better.”

Fear of backlash

Another professor, who declined to be named for fear of backlash from the Education Ministry, revealed two other flaws in the education system. Both are related to the Public Service Department scholarships.

The first flaw, she said, was a shortage of scholarships for physical sciences. The second – and more alarming – flaw was that these scholarships were being awarded to students who either didn’t have the aptitude or the interest to pursue a career in physical sciences.

“Malaysia produces less than 20% of physical science graduates,” she stated. “Taiwan, Japan, South Korea and China produce 30% to 40%, which increases their preponderance for acquiring technology.”

“And because most of our graduates weren’t interested in physical sciences in the first place, they carve careers in other industries upon graduation, which further dilutes our already limited resource pool.”

She blamed the political powers for handicapping the country by using its education system as a political tool, especially in the PPSMI reversal.

Pointing to Vietnam and China as examples of governments with foresight, she said that both countries had each launched an all-English government university.

“Their governments recognised English as an international language, not a colonial one,” she emphasised. “And they essentially told their people that if they didn’t like it, then they didn’t have to come. But that opportunity was there for those who did want it.”

“Malaysia has a myopic vision. We look inwardly to see how fast we have improved without taking into account how our competitors are faring. Our education system is not producing people who can think, which is fundamental to a country’s growth.”

But it is not just the science and technology industries that are suffering the butterfly effect of the PPSMI reversal. Even the food industry is fearing for its future in the global market.

English terms

At a recent public forum organised in support of PPSMI, an entrepreneur who only wanted to be known as Mazidah related the struggle she faced in her food-processing business.

“Our previous interns weren’t exposed to Science and Maths in English and had problems understanding industry terminologies,” she recalled.

“Their working papers were downright embarrassing. I recently found out that many have opted not to pursue a career in the food industry after all because they can’t cope with the English terms.”

Her recent batch of interns, however, underwent the PPSMI and she marvelled at the difference in their capabilities. According to her, they understand the industry requirements, have better communication skills and are on top of advancements in the industry as they are able to read books written in English.

“The food industry can be very difficult if you’re not exposed to scientific terms in English,” she stressed. “And we’ll drop very far behind if we don’t do something about our education system now.”

The other issue that greatly aggravates her is the Health Ministry’s decision to hold two separate workshops on food safety management systems – one in English and one in Bahasa Malaysia (BM).

“The ministry officials told us that the BM workshop is meant for the local market and the English version is for those who wish to export their products,” she said. “But this is ridiculous! Not only will it widen the existing class divide but it will also hamper our global competitiveness.”

[Source: FMT]

Saturday, December 11, 2010

Student protests - it is the sign of the times!

STUDENT PROTESTS IN LONDON


Britain's seeing its biggest protest yet against the deep cuts the country faces to tackle its massive debts. Tens of thousands of students are protesting against a planned hike in tuition fees which could see them treble to 9-thousand pounds a year. Violence flared briefly during the overwhelmingly peaceful protest as a handful of people smashed windows in a high-rise building that houses the headquarters of the Conservative Party, part of the governing coalition. Britain's Liberal Democrats, who are part of the coalition, pledged during the country's election campaign to abolish fees. During the protests, the car carrying Prince Charles and his wife, Carmelia, was also attacked, with some of the attackers shouting, "Off with their heads!" Treason?

STUDENT PROTESTS IN ROME


And finally, our own students protesting the rise in commodity and utility costs.