SCwatch


SHUHAIMI’S CONTORTION OF MALAYSIAN HISTORY IN ‘TANDA PUTERA’ : AN ATTEMPT TO SPLIT COOPERATION BETWEEN MALAYS & CHINESE?

If one had read the history of British colonisation, especially the book written by Brian Lapping entitled “End of Empire”, one could sense right through all the British colonies….from Asia to the Middle East to Africa….the one common policy that prevailed was that of “DIVIDE & RULE”!

That was the only way to keep those wimps (as how the British would call its subjects) in check and not cause too much trouble.

It was that kind of colonial policy that led to the British proposed Malayan Union in 1946….that created the entity UMNO and the rise of Malay(an) nationalism and ultimately independence in 1957.

It is therefore ironic that today, that same entity called UMNO, is using similar disgusting tactics of the British colonialists in splitting the communities in Malaysia.

I am of course referring to the so-called historical movie called, “Tanda Putera” by this lady called Shuhaimi Baba.

I cannot help feeling that this slanted portrayal of history by this UMNO puppet……was done with a view of causing alarm to the Malay community against the Chinese (Note: As we all know, the Chinese vote is a lost cause as far as UMNO is concerned).

UMNO still thinks that the Malay community can be swayed by such (fictional) movie…..just like when it was claimed that Tengku Razaleigh lost a crucial block of Malay vote (in his fight against Mahathir back in the mid-1980s) when he was pictured wearing a Kadazan head-dress that appeared to have a (Christian) cross printed on it!

If that was true, the Malays are indeed a gullible lot……..which we all know is utter rubbish!

This only points to the fact that UMNO is still living in the past and hoping that the past would ensure their continued political and racial hegemony.

Keep dreaming, UMNO!

As for Shuhaimi Baba’s depiction of the 13 May 1969 riots, that took 15 minutes out of the 115 minute movie, it is UMNO’s attempt to keep alive the memory of the riots……especially when Malaysians of all races below the age of 43 years were not born when it happened.

It is just like trying to remind the British people of today how lucky they are that they are not ruled by the French (and having frog legs as a national delicacy!)….as a result of the British victory at the Battle of Trafalgar in the year 1805!

All this is an indication of the desperation of the UMNO klingons in hanging on to power.

I suppose it is good to have dreams!



CHARGED & MOST LIKELY TO BE JAILED : WHISTLE- BLOWER WHO EXPOSED THE (MINISTER) SHAHRIZAT JALIL FAMILY’S SCANDALOUS CONDOS FOR COWS FIASCO!
August 3, 2012, 11:11 am
Filed under: Rakyat's concerns, UMNO | Tags: , ,

The Merdeka logo/theme for Malaysia’s Independence celebrations this year  (“Promises Kept”….by UMNO?) created such a furore that Information Minister, Rais Yatim, announced the UMNO led Government’s decision to remove it, after having a day earlier, defended it vociferously.

This seems to reflect the Najib administration’s concern about the Rakyat’s (people’s) perception of the UMNO led Barisan Nasional……..enough to bend backwards to ‘please’ the Rakyat.

The Rakyat was therefore flabbergasted to read (a few days’ later) about the charges brought against Rafizi Ramli and his purported informant for using information sourced from a bank (and protected by banking regulations) in exposing the alleged wrong-doings of Minister, Shahrizat Jalil’s family!

Surely, this is counter-productive for UMNO.

Everyone must be trying to understand this Jekyll & Hyde behaviour of this UMNO led pack of specimens!

But is it really a Jekyll & Hyde characteristic……..or is there a more sinister reason behind this fundamental inconsistency?

It is beginning to dawn on many that this action against Rafizi Ramli MUST be taken by the UMNO establishment in spite of the damage done to efforts to spruce up the image of the UMNO establishment.

Why?

That’s because UMNO does not want what Rafizi had done…….to encourage or embolden others from doing likewise i.e. whistle-blow (read: expose) wrong-doings through the use of bank information e.g. bank statements of the villains!

This appears to be what UMNO is fearful of!

It is the banking information that would expose the obscene wealth of the UMNO warlords and their cronies!

This would also include the movement of monies between Malaysia and foreign countries!

So, the way to manage this is to harass and prosecute such whistle-blowers……such that any ‘expose’ will be confined as ‘hear-say or allegations’!

Which then brings us to the point of the role of Bank Negara Malaysia.

Are they doing this just from the point of strict enforcement of the law……what about the issue of money laundering from ill-gotten means (read: corruption money).

What that has emanated from the prosecution of Rafizi Ramli points to the fact that the Rakyat can see as clear as day-light that the UMNO led politicians are not inclined to change for the better…..notwithstanding the current barrage of rhetoric and self-praise!!

Click HERE to the confirming of what was said back in 2010.



UNCOVERING ‘SKELETAL CLOSET’ FEARS INCREASE WITHIN THE UMNO RANKS : IS THAT WHY MAHATHIR IS SUGGESTING RE-THINK ABOUT FREEDOM ON INTERNET?

Mahathir was recently quoted that the Malaysian government should re-think about the freedom on the internet. Click HERE

And this is coming from the person who had guaranteed absolute freedom when he launched Malaysia’s Information, Communication and Technology frame-work …that was meant to attract investors to Malaysia.

Little did he realize the impact that ICT had and still has on the country…..and the world over!

An increasing number of Malaysians are obtaining access to information previously stifled so effectively by the UMNO led government.

With the help of the internet, Malaysians the world over get effectively un-censored news and analysis……for them to come to their own conclusion of things.

And it is in that context that we just could not avoid noticing the Malaysian Anti-Corruption Commission’s  announcement that Women Minister, Shahrizat Jalil has been absolved of any wrong-doing in relation to the National Feedlot Corporation fiasco that cost the taxpayers’ at least RM250m.

By the way, her husband had earlier on been charged for the same fiasco.

Even if we are to look at the provisions of the law, both Shahrizat and her husband are deemed connected persons.

So are they now telling us that the government awarded the NFC project to the Shahrizat family out of the ‘goodness’ of the government’s heart……if they had one?

Even if one is to claim that it was due to her husband’s ‘ability’……..one just has to look at his track record when he helmed the Technology Park…….and after that, the Malaysian Heart Institute, both of which had their fair share of ‘controversies’ during his time.

Maybe that’s precisely why the government gave the NFC project to him? Click HERE

It was equally noticeable that the MACC has re-opened their file on Azmin Ali, the Deputy President of Parti Keadilan Rakyat, the Anwar Ibrahim led party.

Say what you like, the perception is that the ‘guns’ are being honed at Azmin Ali….including his alleged sexual tryst…..aimed at discrediting Anwar’s prodigy!

At the same time, not only is taxpayers’ money being used by the UMNO led government to ensure they continue in government……..BUT of more concern is also the use of taxpayers’ SAVINGS!!

The government arranged RM9.0 billion financial papers to keep Malaysia Airlines (MAS) afloat is coming from the pension funds that include the Employees Provident Fund (EPF) and that of the Civil Servants (KWAP).

One should also notice that in the books of MAS, these monies will not be classified as ‘borrowings’…..rather they are deemed part of the share capital of MAS.

This means that Employees’ savings are being effectively invested in an  insolvent company.

If one is to read further into those ‘financial paper’ that is to be issued to the likes of EPF, MAS would have the right to with-hold payments of ‘interests’ without triggering any default!!

Not only that, the ‘financial paper’ will not be rated……a sad reflection of the dire straits MAS is currently in!

Don’t take my word for it…….read MAS statement to Bursa Malaysia about the terms of the ‘financial paper’ known as the ‘Junior Sukuk’:-

We are pleased to inform that the Securities Commission Malaysia (“SC”) has approved the establishment of the Junior Sukuk Programme and issuance of Junior Sukuk thereafter vide its letter dated 24 May 2012, which we received on 25 May 2012. This approval is subject to compliance with the relevant requirements pertaining to the implementation of the Junior Sukuk Programme as stipulated under the SC’s Sukuk Guidelines.

The Junior Sukuk is expected to be recognised as equity capital in its entirety and will serve to shore up MAS’ capital base.

SALIENT FEATURES OF THE JUNIOR SUKUK

·         Perpetual in tenure, where MAS has a call option to redeem the Junior Sukuk at the end of the tenth year and on each periodic distribution date thereafter

·         MAS also has the option to redeem the Junior Sukuk if there is a change in accounting standards resulting in the Junior Sukuk no longer being recognised as equity capital

·         Periodic distributions on the Junior Sukuk can be deferred at MAS’ option, where the deferred distributions are cumulative

·         The Junior Sukuk will be issued under the Islamic principle of Musharakah, while the principle of Commodity Musawamah will be employed to effect the deferral of the periodic distributions, if any

·         The Junior Sukuk will not be rated

·         Payment obligations on the Junior Sukuk will at all times, rank ahead of other share capital instruments for the time being outstanding, but junior to the claims of present and future creditor of MAS (other than  obligations ranking pari passu with the Junior Sukuk)

UTILISATION OF THE PROCEEDS

The proceeds raised from the issuance of the Junior Sukuk shall be utilised for MAS’ working capital requirements and refinancing of existing borrowings. 

This announcement is dated 25 May 2012.

 



UMNO’S SPURIOUS CLAIM OF ‘CHINESE TAKEOVER’ IS BEING REBUTTED BY MALAYS THEMSELVES!
December 20, 2011, 12:12 am
Filed under: Malaysian politics, Pakatan Rakyat, UMNO | Tags: , , ,

I re-produced Nur Jazlan’s article previously.

I am doing the same for Azam Aris, a senior editor with the Edge Malaysia, a weekly Malaysian financial paper that has a following amongst people interested in Malaysia’s economic development.

It only points to the fact that the evolution of the Malay race ….. or any race for the matter …… cannot be determined by a political entity that is desperate to maintain its hopeless hegemony over its people and country through the instillation of FEAR.

Today’s technology and the flow of information do not allow that to happen anyway ………

So read on as to Azam Aris’ take on the current Malaysian political situation (note: pictures inserted by me) …….

THE FALLACY OF THE MALAYS LOSING POWER

By Azam Aris

Two weeks ago, I had dinner with a few Malay friends. As usual, we discussed various matters, ranging from family to politics. And as it often happens, we ended up talking football, among other things, about when Wayne Rooney would score again in the Barclays Premier League (he did so on Dec 10 when Manchester United overpowered Wolves 4-1 at Old Trafford) or if Liverpool will win the BPL again (it has been for 21 years and counting).

Before the dinner ended, I casually asked: “As a Malay, do you feel under threat? Or have a siege mentality …. you know, a state of mind where one feels insecure and fears losing the political power that the community holds or that the position of Islam will be undermine?”

The short and simple answer I got was “no”. As Malay professionals, we feel comfortable – about ourselves, being who we are in our own fields of expertise and the fact that the fate of the Malays lies very much in their own hands.

Later, over the weekend, I went to the housewarming kenduri of another Malay friend who had just moved into his spanking new RM1.5 million house in USJ, Subang Jaya. Restrees, a guarded and gated residential project that was developed on leasehold wakaf land, is predominantly owned by Malays. I observed that the upper middle-class Malays here mixed well with their Chinese neighbours and that those who attended were a confident lot who believed in themselves and their ability to compete in the real world.

At our table, we talked, among other things, our children’s education, the impending weddings of sons and daughters and escalating property prices. There was a smattering of politics but the subject of the Malays losing power and the position of Islam being relegated to a lower status did not arise.

This is not to say that confident and self-assured Malays are confined to the professional and upper middle class. There are many others out there among the middle class and low-income group who whork hard to earn their living and compete well against the non-Malays. Their minds and souls are not held hostage by the notion that the political position of the Malays and Islam could be in jeopardy if Umno – the dominant party in the Barisan Nasional coalition – were to lose power.

Why then do we hear the topic being brought up over and over again by the ruling political parties and the mainstream media that belongs to them? Is it real? Or is it just a political charade to convince the majority of the Malays or those who do not actually believe this premise that we are actually in that position?

Logically, the Malays would not be in that precarious position because the reasons that favour them numerically and politically are intact. In the Malaysian context, it will not be possible for the Malays to lose power as long as the Malays/Muslim bloc forms the largest segment of the population. It is as straight-forward as that.

If the Malays could assume political dominance during independence in 1957 when their numbers were just slightly above 50% and they had much less control over the economy, then they will not lose power today or at any other time in the future. The Malay/Muslim population now stands at 61.4% and this is conservatively expected to increase to 64.5% by 2030, according to Pew Research Centre’s report titled The Future of the Global Muslim population: Projection 2010-2030. With the higher birthrate among Muslims in the country, some estimates even put the figure at 70% by 2030.

In addition, the gerrymandering carried out by the incumbent party for the last 54 years has resulted in a higher number of Malay/Muslim seats. Thus, there is no possibility that a general election will result in a non-Malay/Muslim party getting the most number of parliamentary seats at the federal level.

Based on the same numerical superiority in terms of population and parliamentary seats, the position of Islam as the official religion and the powers it confers, along with the special place of the Malay royalty, should also remain intact.

By virtue of this and the power of the majority, the position of the prime minister should remain in the hands of the Malay/Muslim leadership – a point well understood by non-Malay political parties.

Malay/Muslim political dominance is further strengthened by various articles in the Federal Constitution, notably those that make Islam the official religion of the country and Bahasa Malaysia the national language, and provisions preserving the sovereignty, prerogatives and powers of the Malay rulers and the status of Malay reservations.

On top of this, Article 153 has specific clauses that protect the rights and interests of the Malays/bumiputera community in the administrative and economic fields.

But the Constitution is not lopsided to only favour the Malays/Muslims. In the words of the late Lord President Tun Mohamed Suffian Hashim, in his book An Introduction to the Constitution of Malaysia, “each one of these agreements in favour of the Malays was balanced by liberal provisions in favour of the non-Malays” – for example, their religious, language and economic rights are equally protected.

For some Malays, the fear campaign has been effective and to them, the fear is real. An elderly uncle of mine gave what seems to be a popular argument among some Malays, citing Penang (which fell to the opposition in the 2008 general election) as an example where the Malays have lost political power and leadership and everything that goes with it, including economic entitlements.

Never mind the fact that Penang has not been in the hands of the Malay/Muslim leadership since Francis Light connivingly convinced the Sultan of Kedah to cede the island to the British in 1786. Since Merdeka, all the chief ministers of the state have been Chinese and the state administration has been under Chinese leadership – unless Umno wants to give the impression that the MCA and Gerakan chief ministers are actually “Malay” leadership in another form.

At a time when the issues that should be raised are fighting corruption, high food prices and cost of living and low wages, and increasing productivity and ensuring the goals of the nation’s Economic Transformation Programme are met, instilling this fear of Malays losing power is irresponsible and counter productive.

Yes, you might win some votes but for what purpose? Disrupting the country’s long-terms stability and harmony for short-term gain? Umno, which has been in power for the last 54 years, should ask this question: Has it done enough for the Malays to ensure that it will continue to get majority support? Why then is there a lot of discontent among the Malays with regard to its leadership? How about the disenchantment of the non-Malays?

And how does one transform a nation when the dominant party sends the wrong signals by instilling fear of what may happen if it loses power? How does one transform the nation when the dominant party has not transformed its way of thinking?

The party whose leaderhsip had a big problem in seeing that the National Feedlot Corporation fiasco was indeed a problem should take a hard look at itself before it continues to propagate the idea that without it, the Malay/Muslim population risks losing a lot.



PENANG’S SURGING CAPTIVE AUDIENCE SEEMS TO NOW INCLUDE THE COMPETITIVE SINGAPOREANS

We have always known the Singaporeans to be a ‘kiasu’ lot …… literally meaning ‘scared to die’ or scared to lose out on virtually anything.

This may be one of the end result of the siege mentality that Lee Kuan Yew created during the time of partition between Malaysia and Singapore in 1965.

Lee Kuan Yew always talks about the intimidation and the Malaysian military on Singapore soil …… resulting in Singapore now having the fire-power to dent any aggression …… even from Indonesia!

Back to my story ……. in today’s age, the siege mentality is more confined to economics ……. like how Singapore can stay ahead of its competitors in the region or even globally.

I recall at one time, much coverage and analysis arose from the building of the Port of Tanjong Pelepas in Johore.

The Singaporean viewed this as a direct threat to its own shipping business that had one of the largest turnovers (in terms of TEU [ton equivalent units]) then …… about 14m per annum!

I recall the Singaporean business papers working overtime on the development of the Malaysian port led by Syed Mokhtar Albukary.

I even recall the PSA (Port of Singapore Authority) having to defer its IPO (Initial Public Offering) around that time although they attributed to market sentiments ……. which I felt that had to do with Syed Mokhtar’s PTP!

Fast forward to today ……. and again I am sensing the same Singaporean ‘concerns’ or shall I call it interests in the recent economic development of Penang.

The Pearl of the Orient had in the past been seen as a direct competitor to Singapore in the early 1970s especially when Penang was under the late Lim Chong Eu.

That ‘threat’ crumbled when the leadership changed to Koh Tsu Koon and his UMNO bretherens and Singapore surged ahead.

That ‘threat’ appears to be returning in the form of the Lim Guan Eng rejuvenated Penang.

Threat enough for the Singapore Business Times to publish the Bloomberg report that was originally entitled, ‘Malaysia Losses from Racial Law Exposed’.

Singapore has always responded to competition by being more proactive and value-added in it processes.

This is in stark contrast to how the current UMNO regime seems to be adopting.

In fact, UMNO’s current media spinners do no justice to the UMNO of the past.

I am of course referring to Ahirudin Attan a.k.a. Rocky.

His outsourced hatchet man, someone called ‘SatD’, runs an expletive laced blog which attempts (in expletive terms) to run down whatever achievements of the Pakatan Rakyat in Penang especially in a totally illogical ranting manner!

The best description of their attempts is pure written diarrhea ……. thank God we don’t have to listen to them, or else it’ll be verbal diarrhea!

Please understand why I am not linking you to their articles as they are bad, bad examples of communication skills!

On the other hand, let me re-produce the article from Bloomberg below that was also published in today’s Singapore Business Times under a more ‘face saving’ heading:-

PEARL OF THE ORIENT SHINES BRIGHTLY

(KUALA LUMPUR) Lim Guan Eng turned Malaysia’s second-smallest state into the nation’s biggest economic success after he bumped into two National Instruments Corp executives at the local airport in 2008.

Elected in March that year as Penang’s first chief minister from an opposition party in 36 years, Mr Lim was struggling with the prospect of federal funding cuts.

He convinced the managers to set up a research and production centre in the state, and within two years the former British trading post was Malaysia’s top destination for foreign manufacturing investment.

With a general election due by early 2013, Penang’s progress highlights the challenges facing the rest of Malaysia and the National Front government as China, Indonesia and Vietnam offer investors bigger workforces while Singapore lures talent with lower taxes and easier immigration.

Mr Lim, 50, the country’s only ethnic-Chinese state leader, embodies the contrast between Penang’s business transparency and the four-decade old policies of the ruling party that favour Malays, which the World Bank says undermine competitiveness.

‘Penang now has a chance to show that if you have good governance, and if you put fairness and justice as your main qualities, free of race considerations, that is actually the way to go for Malaysia,’ said Ooi Kee Beng, Penang-born author and a senior fellow at the Institute of Southeast Asian Studies in Singapore.

In the first seven months of 2011, Penang won RM3.6 billion (S$1.46 billion) of approved foreign manufacturing investment, ahead of the RM3.4 billion that went to Selangor, the state that surrounds the capital Kuala Lumpur, a government report showed last month. The state made up 8.1 per cent of Malaysia’s gross domestic product in 2009, based on constant prices.

Mr Lim has managed to keep Penang attractive for international companies even as Prime Minister Najib focuses federal support on regions such as Johor and Sarawak, where his ruling coalition has among its biggest parliamentary-seat majorities.

To prevent corruption, Penang requires open bidding on contracts of more than RM200,000 and has awarded about RM125 million of jobs through competitive tenders, according to Mr Lim. Transparency International said in a 2009 report that Penang was Malaysia’s first state to implement open tenders for government contracts.

While Mr Lim said his government awards contracts based on merit within the national guidelines, the federal government states that it has no obligation to accept the lowest offer or to give any reason for rejecting a bid.

Under Malaysian federal rules, agencies are only required to invite quotations from at least five bidders for works contracts.

The Malaysian government says it is also pushing for greater transparency, including introducing a whistleblower protection law to fight corruption and a planned competition law next year.

Malaysia’s efforts to woo investments in recent years may have been hampered by its policy of giving preferential treatment to ethnic Malays and some indigenous groups, collectively known as bumiputra, in government jobs, contracts, education and cheaper housing, said Mr Ooi.

When the economy was booming along with its neighbours before the 1997-98 Asian financial crisis, the effects of the policy were less apparent, he said. When growth slowed, the race-based programme became a greater damper, according to Mr Ooi.

While the nation outperformed rivals in the early and mid-1990s, it has struggled to maintain that edge since the regional crisis.

Malaysia’s racial policies spurred a brain drain of largely Chinese and Indian minorities, and limited foreign investment, Philip Schellekens, a senior economist at the World Bank, said in April.

Mr Lim says ethnic Malays also benefit from the state’s economic growth. In the Malaysian state with the highest proportion of ethnic Chinese at 42 per cent, Malay contractors have won most of the jobs awarded by his government through the open tenders, Mr Lim said. The Malay community doesn’t need racial quotas to succeed, he said.

‘We have proven that this is the way forward,’ Mr Lim said in an interview in July. ‘Malaysia has a historical opportunity for change.’ – Bloomberg



FOR UIA’S AZIZ BARI OR ANYONE IN THE ESTABLISHMENT FOR THAT MATTER : IS IT SAFE COMMENTING ON ISSUES THAT MATTER?

Much has been said about the suspension and investigation into the comments by constitutional expert, Aziz Bari, about the involvement of His Royal Highness the Sultan of Selangor in the JAIS raid on a Christian establishment.

It is as though lese majeste laws like the ones in Thailand has suddenly become the fashion of the day …… the perception being that it is being used by UMNO to stifle comments cum revelations within the establishment.

It was therefore not surprising when the release of the  Auditor General’s report was deferred from the original date of release.

There was much speculation that the ‘cover’ of the report needed to be ‘re-phrased’ ….. or even ‘revamped’ in order NOT to put the UMNO led government in bad light!

Click HERE to see how Bernama (Malaysia’s official news agency) puts it so positively!

Hey, these short-comings and wastages involving the government machinery have been highlighted for so many years ….. dating back to the days of former Auditor General, the late Ahmad Nordin.

And what has really been done?

Absolutely nowt!!

The country is at a cross-road between continued prosperity (relatively speaking) AND falling into the ABYSS of no return.

Hey, but why do the political leaders of today care whether we fall into the abyss or not.

They are already substantial (in material terms …… and physically too). In fact, their material wealth can last them several generations, so I was told!

Following from this, it is therefore incumbent that failings or shortcomings need to be highlighted by the people concerned and not be allowed to get lost in the mass of details within the documentation.

Officials appointed to high offices within the establishment are duty bound to act in the interest of the country.

Isn’t it always ….. DEMI BANGSA, UGAMA DAN NEGARA?

A prime example of such obligations to whistleblow was shown in the case of the company, Olympus.

The newly appointed CEO, Michael Woodford, felt obliged to raise certain improprieties publicly …… after he had been ‘removed’ from office shortly after exposing these ‘matters’.

His whistleblowing was duly supported by documentation that revealed questionable fee payments that were in excess of 35% of the transaction cost. These fees are usually in the region of 1% to 2%, a world practice in fact.

Click HERE for Woodford’s letter to the Olympus Board that was published by the New York Times.

Better still, watch below Woodford’s interview with Reuters …. a brave man indeed but also one who is refusing to succumb to accusations against his competency:

Latest news reveal that the Chairman, Kikukawa (the previous CEO) has resigned and the company is under investigation by the Japanese authorities and the FBI.

This corporate greed is a world wide endemic and is not confined only to Malaysia.

And it is for that reason that the Rakyat cannot meekly accept the lackadaisical explanations and efforts in resolving these serious shortcomings that have become a serious Malaysian rot.

The moment key leaders are less than incorruptible, less than stern in demanding high standards, from that moment the structure of administrative integrity will weaken and eventually crumble.



UMNO’S SMEAR CAMPAIGN AGAINST LIM GUAN ENG : A SIGN OF SUCCESS IN PENANG STATE UNDER DAP?

The time is nigh.

The end of the world?

No.

It’s the General Elections for Malaysia!

Why?

Because there have been so much ‘rubbish’ and ‘accusations’ published in the mainstream media and ‘outsourced’ online media …… that to observers, it’s the signal for elections!

God, they don’t change, do they?

It is as though these ‘shit stirrers’ expect their target audience to have the same degree of ignorance as the people thirty years ago had ….. when technology was not so advanced then.

Look at the way they attempted to scandalise the son of Penang Chief Minister, Lim Guan Eng ….. something that has now been refuted by the ‘victim’ herself!!

What about linking Penang’s DAP to the takeover of E&O by linking DAP’s Guan Eng to ECM Libra?

Notice how the worms quickly went back to their holes when they realized that ECM Libra was in fact an UMNO company?

And what about insinuating that DAP is linked to the attempted proselytising of Muslims ….. just because Guan Eng is a Christian.

There was supposed to be a mammoth rally of a MILLION people to protest the   the proselytisation …… but it was a whimper of a turnout organised by 3,0000 Muslim NGOs.

Based on my basic calculations, with a 5,000 turnout at Shah Alam 80,000 capacity stadium, this would work out to 1.666 members from each NGO!

Not much support from the Rakyat, it would appear.

The fact of the matter is that Penang under the Pakatan Rakyat has done amazingly well ….. despite the constraints put by the Federal Government.

It has won the largest portion of Foreign Direct Investments to Malaysia and is known for its forward looking and corrupt free practices.

Not only that, Bloomberg has commended the Penang State Government for the tremendous work done in the relatively short period they have been in government. Click HERE for the Bloomberg report.

Penang has also shown that it is able to work with PAS which has ruled Kelantan for all these years …… despite attempts to split them over the Hudud law.

And who says that materialism is always an indicator of development in a state?

After all, isn’t it said that contentedness is the greatest form of wealth?

Under Tok Guru Nik Aziz, the Kelantanese are way ahead of their other bretherens in terms of spiritual development as compared to the others’ material development.

Yes, let’s get on with the General Elections …… as we shall face all the challenges including money politics, disproportionate representation, intimidation and the likes.

The perseverence will continue.

For was it not said that:

TRUTH AND JUSTICE WILL ALWAYS PREVAIL.

THERE WILL BE MURDERERS, PLUNDERERS, DICTATORS …. AND AT TIMES THEY APPEAR INVINCIBLE.

BUT IN THE END, THEY WILL ALWAYS FALL.

ALWAYS!

Tunisia’s Ben Ali, Egypt’s Mubarak ….. and quite recently, Libya’s Gadhafi …… have attested to that!

The only difference is that Malaysia’s will most likely be a peaceful one!



GOVT ‘TAKEOVER’ OF MALAYSIAN CHINESE OWNED LISTED COMPANIES : DONE IN A STRATEGIC CONTEXT?

 

In my mind, there has been too much ‘hot air’ and over-speculation about the acquisition by Government Linked Companies (GLCs) of public listed companies owned, in particular, by Malaysian Chinese entrepreneurs:

  1. It all started with UEM Land taking over listed Sunrise Berhad from Tong Kooi Ong, who had made a name for himself in Malaysia (Allied Bank, properties and securities) and Canada.

  2. Then there was the widely believed takeover of Air Asia Bhd by government agencies …. that explains the share price support up to RM3.95 …… and culminated in Tony Fernandes’ “rescue” of Malaysia Airlines (MAS).

  3. This was followed by the controversial takeover by Sime Darby of boutique developer E&O Berhad from major shareholders led by Terry Tham.

  4. And finally, PNB’s apparent ‘hostile’ takeover of SP Setia led by Liew Kee Sin.

First and foremost, I think this is part and parcel of the government’s plan to pare down its holdings in GLCs.

Why?

Because the government requires cash and Foreign Direct Investments are only trickling in …… and even then, it’s going to opposition controlled Penang and Selangor!

The monies will be needed for the government to stimulate and prop up the economy since it cannot export its way out of recession as it did in the late 1990s downturn …. the economies the world over are in trouble!

At the same time, the government realises that they cannot just arrange for cronies to buy these ‘significant’ stakes and run the companies profitably …… they will generally run them down; if not seek government ‘help’ in meeting their skewed KPIs.

Therefore, the government buys up these Malaysian owned, well run, profitable listed companies …. (I’m not too sure about Air Asia though!)

This is with the proviso that the previous controlling shareholders (Tong Kooi Ong, Tony Fernandes, Terry Tham and Liew Kee Sin) help run the bigger entity (UEM Land, MAS, Sime Darby and PNB respectively).

Effectively, the GLCs have the ‘bullets’ but they need these ‘marksmen’!

As a result, we now see Tong Kooi Ong is already in the Exco of UEM Land.

Same in the case of Tony Fernandes who sits on MAS’s Board and Exco.

As for Terry Tham (who worked for Wan Azmi in Land & General Berhad then), the collaboration agreement is not revealed in detail but it was mentioned he would still be there for E&O for the next three years.

As for Liew Kee Sin, he was effectively working for UMNO (read: Rashid Manaf) by building up the SP Setia group for his political master. The arrangement does not seem to change ….. as long as it enriches him.

Of course, this will face the brunt of the fury of right wingers in UMNO and condescending racists ….. but that’s how Malaysia works!

At the same time, it is assumed that these ‘successful entrepreneurs’ will act in the best interest of the larger government owned entity.

Well, most of us live on a wish and a hope!

This is at best, the start of the Malaysian meritocracy regime ……. in its own convoluted way!



WHAT IS BEING SAID CANDIDLY …… IN THE ‘SMALL PRINT’

Malaysians are known to be one of the worst group of people …… when it comes to reading ….. or the lack of it.

Parents have the most difficult of task in encouraging their children to read as much as possible ……. this being one of the main means in building a good English vocabulary …… for communication purposes.

Alas, not many children are prepared to do so …… and this may explain the abysmal standard of English amongst Malaysian children when compared to say 25 to 30 years ago!

It stands to reason therefore that it is the older generation Malaysians who articulate it much better.

Unfortunately, their commentary on the plight of Malaysia’s serious short-comings are hardly HIGHLIGHTED in the mainstream press and if they do, they are generally confined to the small print.

This may be due to the attempt by the current administration to create a ‘feel good’ Malaysian environment ….. as a precursor to the calling of the next General Elections!

But to be fair to the press, some of the concerns are reported and printed in the media …… but targeted only to sections of the public eg economic news, property news etc …. ie they are not targeted and highlighted for the attention of the Rakyat at large.

Let’s look at one example starting with ex-Bank Negara Malaysia Deputy Governor, Lin See Yan, who was quoted as follows in last Saturday’s Star Biz Week whilst commenting about Malaysia’s economy:-

  • In this country we love form rather than context and in the process of assessment, we bastardised the Key Performance Indicators (KPIs).

  • We try to keep KPIs for the sake of the numbers. Even in education we look at how we are ranked, and we break it down and see how we can play with the numbers in order to meet (KPI) criteria so that we can be upgraded.

  • That is not the way, we must start from meritocracy. If you don’t do that, you can meet your all KPIs but you are still be back to square one.

  • As far as the Government is concerned, I am not worried about the Government per say.

  • I’m worried about the government agencies which are piling up debt. If you look at the development expenditure, it’s the agencies that are the big spenders. What sort of return on capital are we are getting?

  • We say the right things – liberalisation, bringing taxes down, taking away subsidies, but in reality we do the exact opposite.

And this is coming from someone who has seen it all ….. from the time he was Deputy Governor to Tun Ismail Ali in Bank Negara Malaysia to this present moment in time.

Doesn’t it make you shudder to think that our country’s bureaucrats have allowed the system to de-generate to what it is today?

They are now kidding themselves into believing that everything is still hunky-dory and that there is this light (artificial, I am sure) at the end of the tunnel.

Do you now know why we need a two party parliamentary system into order to keep the checks and balances working?

Click HERE for the full interview given by Lin See Yan and others to The Star.



LIM GUAN ENG : BESIDES STIFLING DISSENT, IS UMNO ALSO STIFLING COMMENTARY ….. EVEN THE PRIVATE KIND?

To me, it was still quite a spectacle watching the manner in which Lim Guan Eng was hounded by his critics for his alleged disparaging remarks about Johore’s perceived lack of security from criminal elements.

You even get individuals like Rocky aka Ahirudin Attan ‘coughing’ out statistics showing the number of reported crimes in Penang exceeding that of  Johore.

Such is the mentality of some that a reported petty theft in Penang is equivalent to a reported robbery cum murder in Johore!

It was good that Guan Eng offered an apology especially to His Royal Highness, The Sultan of Johore, in order to avoid the ‘elements’ from prolonging and exacerbating the matter.

Even if Guan Eng did utter those remarks, they were done in private …… and yet, there were those rats and cockroaches at every nook and cranny attempting to record what Guan Eng was uttering!

This is certainly confirmation that the paid hatchet media spinners of UMNO are bereft of ideas and stories to raise the profile and legitimacy of UMNO as a leader of the community and the country.

They have been reduced to finding faults with their opponents ….. to the point of whining ……. at events they have not been invited to!

Btw, it is in the grapevine that Penang has this year todate attracted nearly 60% of the Foreign Direct Investments (FDI) that has come into Malaysia.

It may be no wonder the knives were especially sharp for Guan Eng this time round!

But well, that’s Malaysia for you!

As the old saying goes:

A USEFUL TREE THAT BEARS FRUITS WILL CONSTANTLY BE ATTACKED BY PESTS !

Click HERE for the rocky statistics ….. targetted for the un-initiated!