Sunday, September 26, 2010

Congratulations Lee Chong Wei!!!!!!!!

Chong Wei gains revenge over Lin Dan

September 26, 2010

Lee celebrates after defeating Lin Dan at the Japan Super Series 2010 badminton championships in Tokyo September 26, 2010. — Reuters pic
KUALA LUMPUR, Sept 26 — World number one Datuk Lee Chong Wei defeated archrival Lin Dan of China in the final of the Japan Super Series 2010 at the Tokyo Metropolitan Gymnasium, Japan today.
According to Chong Wei took an hour and 22 minutes before finally overcoming Lin Dan 22-20, 16-21, 21-17 to bag the championship and the US$200,000 (RM610,000) purse.
Meanwhile, Malaysia’s top doubles pair Koo Kien Keat/Tan Boon Heong lost to Cai Yun/Fu Haifeng of China 21-18, 14-21, 12-21 in the men’s doubles final.
Other Malaysians consisting of men’s singles Muhammad Hafiz Hashim and men’s doubles Mak Hee Chun/ Tan Wee Kiong had early exits from the championship. — Bernama

Friday, September 24, 2010

Mahathir, Melayu muda lupalah!!!!!!!!

If you ask me whether shrewed Mahathir can be trusted,  I  can only tell you that this old fellow has his personal agenda when doing something .....

In the latest case, he is trying to act like a Malay hero, going around warning Malay that Malay could lose power if Pakatan defeats BN........

My reason is very simple , if his heart and soul is sincerely with UMNO, why he went around  and condemned UMNO during Badawi time? Aren't we all know that, he could not see eye to eye with Badawi and would do what is necessary to bring his enemy down even putting UMNO at stake .......

2008 tsunami is a solid proof where UMNO lost most of its seat during the 2008 election ......?

If he really cares about UMNO and Malay in 2008. he can always resort to other methods instead of going around washing dirty linen in front of public?

ai yo yo....Melayu mudah lupalah!!!!!!!!!

Dr M warns Malays could lose power if Pakatan defeats BN

September 23, 2010
KUALA LUMPUR, Sept 23 — While declaring he was not a racist, Tun Dr Mahathir Mohamad appeared to play the race card for Umno today by warning Malays that they would lose power if Pakatan Rakyat (PR) came to power.
He also implied that a Chinese or an Indian could become prime minister if PR took federal power because there was no constitutional restriction on race for the position.
The former prime minister (picture) claimed the political marginalisation of the Malays had already become a reality in PR-controlled states even though those administrations were led by Malays.
The Malaysian Insider understands that Dr Mahathir has offered his expertise to Prime Minister Datuk Seri Najib Razak to deliver a big win for Barisan Nasional (BN) in the next general elections which could be held as early as next year.
His remarks to Umno Online today suggests he will play a big role in Umno’s campaign to consolidate support among conservative Malays and win over fence-sitters uneasy with PR administrations.
The former Umno president, who still commands widespread influence among Umno members and larger Malay community, pointed to the former PR mentri besar in Perak Datuk Seri Nizar Jamaluddin as an example of how Malay politicians had been sidelined by PR.
“We see Nizar in Perak...even though he was Mentri Besar he followed the instructions of DAP until he fell. The Chinese claim this was BN’s move to bring down a Chinese government.
“So they called it a Chinese administration and is it not possible that we can have a prime minister like Nizar, Malay in name and a Muslim but not really independent and a tool of others,” he said.
Dr Mahathir said that while Nizar represented PAS which supposedly champions Islam, he was actually used to get Malay support.
He pointed out that there was no requirement for the prime minister  to be a Muslim or Malay. All that was needed, Dr Mahathir said, was that the person had the support of the majority in Parliament.
“There is no restriction in law. In our Constitution there is nothing to stop a Chinese or an Indian from becoming prime minister. What is needed is support from the majority. If the majority agree there is nothing we can do,” he said.
In a thinly-veiled reference to Datuk Seri Anwar Ibrahim, Dr Mahathir said that PKR did not champion the Malays but was set up to realise “one leader’s” ambitions of becoming the prime minister.
“Unfortunately Umno dropped this person and in anger his chance was gone, so he set up another party. His struggle is not for race, religion and country but to become prime minister.
Dr Mahathir added that the public should not be swayed by PR because he said the opposition coalition’s aim was only to bring about the downfall of BN.
The former PM claimed that his remarks were not racial in nature but were being made for the sake of restoring stability.

Thursday, September 23, 2010

Muhyiddin Yassin you better give another excuselah....

I thought this word come from the mouth of  3 years old child ,but instead come from our DPM yo yo....

I cannot act against racist principals, says DPM

September 23, 2010
SERI KEMBANGAN, Sept 23 — Deputy Prime Minister Tan Sri Muhyiddin Yassin claimed today he had no power to take action against the two school principals who allegedly uttered racial slurs, despite his position as the country’s Education Minister. He explained to reporters here today that this was because disciplinary matters involving high-ranking civil servants comes under the jurisdiction of the Public Service Department (PSD).
“The minister cannot make a decision (on this). So cases that involve certain matters, including these principals who have high (pay) grades... If I am not wrong, their grades are between 48 and 52, so this has to be decided on by a disciplinary board under the (purview of the) PSD’s director-general,” he told reporters after opening the 10th regional seminar on the Criminalisation of Bribery at the Palace of the Golden Horses hotel here this afternoon.

Monday, September 20, 2010

I am Malaysian first, Malay second, any problem with that?

Nazri’s open letter to Awang Selamat

September 20, 2010

Nazri has issued a put-up-or-shut-up challenge to Utusan Malaysia’s “Awang Selamat”. — file pic
BUCHAREST, Sept 20 — I have read the comments by Awang Selamat on me in his column. I want to make some clarifications lest readers be misled into thinking what he wrote is correct.
Firstly, I am never afraid to be criticised by the opposition. I would like Awang to come to Parliament and see and hear for himself the vitriol and attacks I received whilst defending the Government on issues related to the Prime Minister’s Office.
In my 33 years in politics, I was never spared by anybody who makes criticisms against me — including the recent comments by Awang. I don’t know about Awang himself, because I don’t even know who he is. I hope he can be a man like me and prove that he is not scared of criticism by coming out in the open and not hiding behind the pseudonym that he uses.
I am also not anti-Dr Mahathir (Mohamad). To me, so far he is the best prime minister I have served. However, as an ex-premier, there is so much left to be desired.
Awang should get out of his time warp and face the fact that I am now in the government as a minister in the Prime Minister’s Department and not vice versa. So it is Tun Mahathir who is criticising the Government and not the other way round.
Of course anybody, regardless of who criticises the government, will receive relentless attack in defence of the Government by me just as I had done in the past when Tun Mahathir and Tun Abdullah (Ahmad Badawi) were the prime ministers.
Having said that, I want Awang to know that I am always sure who my boss is. It’s not (Lim) Kit Siang nor (Datuk Seri) Anwar (Ibrahim) because they are not prime minister of Malaysia, the chairman of BN or president of Umno.
I am not too sure Awang knows who his boss is because he undermines the 1 Malaysia policy of the prime minister and promotes the narrow racism of (Datuk) Ibrahim Ali who is not even an Umno member. Awang should be asking himself the question he posed to me.
Being civil to the opposition is the right thing to do in a democracy, because just like me, they are also elected by the people. Of course, Awang is caught in the time warp of those days where government MPs do not only not engage them but hate and dislike them in all circumstances.
Awang will never understand this because he is not an elected MP, put in the House by the voice of the people. Anyway did Awang ever think of how five PKR MPs could cross and be independents, if not for the civility shown by me to them as parliamentary affairs minister?
The number of crossovers to the independent caucus has exceeded the single MP from Pasir Mas, this so-called Malay Hero worshipped by Awang.
Incidentally, Umno has never asked or needed for Ibrahim to help us but the association with him will only cause us to lose votes.
Tun Mahathir himself told us about his loss in Kota Setar Selatan seat — a 90 per cent Malay majority parliamentary constituency — in 1969 to Yusof Rawa, where it was reported that Tun said he didn’t need Chinese votes. There is a lesson to be learned from this.
Of course, Awang will never understand because not only has he never offered himself as a candidate for the General Elections but readers don’t even know who he is.
Politicians like me who has stood for four general elections and won clearly have to be very careful in what we say and not be reckless like Awang. We need to muster all the votes regardless of race and we do not stay in the comfort zone as Awang does.
He can write and say anything irresponsibly and recklessly, knowing that he will never be punished by the voters.
That is why, Awang, if you asked what my agenda is, I think even school children will know that it’s to win the next general election and that Datuk Seri Najib (Razak) remains as prime minister of Malaysia.
I do hope that Awang also has the same agenda, unless of course his boss is somebody else. Finally I would advise Awang to stick to what he does and knows best and not try to meddle in national politics, of which he has shallow knowledge and zero experience.
He should concentrate in increasing his paper’s dwindling readership. It speaks volumes of their poor standards and performance when Utusan has to refer to the news report of the new electronic alternative media when it should be the reverse.
That will be his KPI and the measurement of his success in the field that he claims he represent well.
Mine is, of course, to win the Padang Rengas seat for Barisan Nasional in the next General Election regardless whether I am a candidate or not. Until then we shall see.
And yes I am a Malaysian first and Malay next. Does any bigot have a problem with that?

Thursday, September 16, 2010

Investors shun Malaysia for neighbours

Please tell me who want to invest in a country where there is still idiot politicians have proudly said that "meritocracy is racist and Malaysian Malaysia is racist"? 

Who say this ? Ask our ever arrogant Mahathir and Katak Ibrahim Ali.....
The more they open their mouth, the more investor will shun Malaysia....

By Yow Hong Chieh
September 16, 2010

Najib’s bid for private investment to drive Malaysia’s economy has been hampered by resistance to his planned reforms. — file pic
KUALA LUMPUR, Sept 16 — Malaysia is now the “least favoured market” in Asia Pacific for investors after nearly doubling its underweight rating from last month, according to a recent Bank of America Merrill Lynch report.
The country slipped two spots — from 10th place to dead last — in the investment bank’s latest Fund Managers Survey, even as the Najib administration prepares to unveil ambitious economic reforms meant to boost investor confidence.
The report appears to be the latest indictment of Malaysia’s inability to compete with rival regional markets. In the past decade, the once roaring Asian Tiger has seen its dominant position as an investment destination in Southeast Asia crumble even as neighbouring countries push to the fore.
A survey last week by the World Economic Forum (WEF) of 139 nations showed that Malaysia had slipped two places in global competitiveness rankings to 26th in the past year, while Indonesia surged 10 places to 44th.
The government is nonetheless optimistic that reforms under Prime Minister Datuk Seri Najib Razak’s New Economic Model (NEM) — details of which will be revealed next month — will revitalise the economy and help Malaysia achieve developed nation status by 2020.
However, Najib’s economic transformation is hinged on the government’s ability to galvanise RM2.2 trillion in investments over the next 10 years — 92 per cent of which is to come from the private sector — and it remains to be seen if the prime minister can overcome investors’ muted response to his plans so far.
Najib also faces stiff opposition from Malay rights groups who feel such reforms threaten what they perceive to be Malay “special rights”, and seems unable to push them through without significant compromise.
Elsewhere in the region, China remained the favourite market by far despite an uncertain global outlook. A net 11 per cent of investors expect China’s economy to strengthen, up from -39 per cent in July, according to Merrill Lynch.
Indonesia, slightly underweight last month, jumped to second place on an overweight call, edging out Hong Kong in the process. New Zealand, Taiwan, South Korea and India remained neutral.
Emerging markets outperformed developed markets this year and remain the preferred destination for investors, although emerging market allocations have been trimmed due to growth uncertainty and risk aversion.
Brazil and Russia continue to be favourites, but appetite for Turkey has fallen in the past two months.
The consumer discretionary sector is still the most popular among emerging market investors, followed by industrials, telecoms and financials.
Defensive sectors like utilities, staples and healthcare remain least favoured but have reduced their underweight positions from last month.

Monday, September 13, 2010

True Malaysian Leader Part 2

True Malaysian Leader Part 1....

Days of Reflection for Man Who Defined Singapore

September 11, 2010
The New York Times: The Saturday Profile



Days of Reflection for Man Who Defined Singapore

by Seth Mydans (published: September 10, 2010)“SO, when is the last leaf falling?” asked Lee Kuan Yew, the man who made Singapore in his own stern and unsentimental image, nearing his 87th birthday and contemplating age, infirmity and loss.
“I can feel the gradual decline of energy and vitality,” said Mr. Lee, whose “Singapore model” of economic growth and tight social control made him one of the most influential political figures of Asia. “And I mean generally, every year, when you know you are not on the same level as last year. But that’s life.”
In a long, unusually reflective interview last week, he talked about the aches and pains of age and the solace of meditation, about his struggle to build a thriving nation on this resource-poor island, and his concern that the next generation might take his achievements for granted and let them slip away.
He was dressed informally in a windbreaker and running shoes in his big, bright office, still sharp of mind but visibly older and a little stooped, no longer in day-to-day control but, for as long as he lives, the dominant figure of the nation he created.
But in these final years, he said, his life has been darkened by the illness of his wife and companion of 61 years, bedridden and mute after a series of strokes.“I try to busy myself,” he said, “but from time to time in idle moments, my mind goes back to the happy days we were up and about together.” Agnostic and pragmatic in his approach to life, he spoke with something like envy of people who find strength and solace in religion. “How do I comfort myself?” he asked. “Well, I say, ‘Life is just like that.’ ”
“What is next, I do not know,” he said. “Nobody has ever come back.” The prime minister of Singapore from its founding in 1965 until he stepped aside in 1990, Mr. Lee built what he called “a first-world oasis in a third-world region” — praised for the efficiency and incorruptibility of his rule but accused by human rights groups of limiting political freedoms and intimidating opponents through libel suits.
His title now is minister mentor, a powerful presence within the current government led by his son, Prime Minister Lee Hsien Loong. The question that hovers over Singapore today is how long and in what form his model may endure once he is gone.
Always physically vigorous, Mr. Lee combats the decline of age with a regimen of swimming, cycling and massage and, perhaps more important, an hour-by-hour daily schedule of meetings, speeches and conferences both in Singapore and overseas. “I know if I rest, I’ll slide downhill fast,” he said. When, after an hour, talk shifted from introspection to geopolitics, the years seemed to slip away and he grew vigorous and forceful, his worldview still wide ranging, detailed and commanding.
And yet, he said, he sometimes takes an oblique look at these struggles against age and sees what he calls “the absurdity of it.”
“I’m reaching 87, trying to keep fit, presenting a vigorous figure, and it’s an effort, and is it worth the effort?” he said. “I laugh at myself trying to keep a bold front. It’s become my habit. I just carry on.”
HIS most difficult moments come at the end of each day, he said, as he sits by the bedside of his wife, Kwa Geok Choo, 89, who has been unable to move or speak for more than two years. She had been by his side, a confidante and counselor, since they were law students in London.
“She understands when I talk to her, which I do every night,” he said. “She keeps awake for me; I tell her about my day’s work, read her favorite poems.” He opened a big spreadsheet to show his reading list, books by Jane Austen, Rudyard Kipling and Lewis Carroll as well as the sonnets of Shakespeare.
Lately, he said, he had been looking at Christian marriage vows and was drawn to the words: “To love, to hold and to cherish, in sickness and in health, for better or for worse till death do us part.”
“I told her, ‘I would try and keep you company for as long as I can.’ That’s life. She understood.” But he also said: “I’m not sure who’s going first, whether she or me.”
At night, hearing the sounds of his wife’s discomfort in the next room, he said, he calms himself with 20 minutes of meditation, reciting a mantra he was taught by a Christian friend: “Ma-Ra-Na-Tha.”
The phrase, which is Aramaic, comes at the end of St. Paul’s First Epistle to the Corinthians, and can be translated in several ways. Mr. Lee said that he was told it means “Come to me, O Lord Jesus,” and that although he is not a believer, he finds the sounds soothing.
“The problem is to keep the monkey mind from running off into all kinds of thoughts,” he said. “A certain tranquillity settles over you. The day’s pressures and worries are pushed out. Then there’s less problem sleeping.”
He brushed aside the words of a prominent Singaporean writer and social critic, Catherine Lim, who described him as having “an authoritarian, no-nonsense manner that has little use for sentiment.”
“She’s a novelist!” he cried. “Therefore, she simplifies a person’s character,” making what he called a “graphic caricature of me.” “But is anybody that simple or simplistic?”
The stress of his wife’s illness is constant, he said, harder on him than stresses he faced for years in the political arena. But repeatedly, in looking back over his life, he returns to his moment of greatest anguish, the expulsion of Singapore from Malaysia in 1965, when he wept in public.
That trauma presented him with the challenge that has defined his life, the creation and development of a stable and prosperous nation, always on guard against conflict within its mixed population of Chinese, Malays and Indians.
“We don’t have the ingredients of a nation, the elementary factors,” he said three years ago in an interview with the International Herald Tribune, “a homogeneous population, common language, common culture and common destiny.”
Younger people worry him, with their demands for more political openness and a free exchange of ideas, secure in their well-being in modern Singapore. “They have come to believe that this is a natural state of affairs, and they can take liberties with it,” he said. “They think you can put it on auto-pilot. I know that is never so.”
The kind of open political combat they demand would inevitably open the door to race-based politics, he said, and “our society will be ripped apart.”
A political street fighter, by his own account, he has often taken on his opponents through ruinous libel suits.
He defended the suits as necessary to protect his good name, and he dismissed criticisms by Western reporters who “hop in and hop out” of Singapore as “absolute rubbish.”
In any case, it is not these reporters or the obituaries they may write that will offer the final verdict on his actions, he said, but future scholars who will study them in the context of their day.
“I’m not saying that everything I did was right,” he said, “but everything I did was for an honorable purpose. I had to do some nasty things, locking fellows up without trial.”
And although the leaves are already falling from the tree, he said, the Lee Kuan Yew story may not be over yet.
He quoted a Chinese proverb: Do not judge a man until his coffin is closed.“Close the coffin, then decide,” he said. “Then you assess him. I may still do something foolish before the lid is closed on me.”

Thursday, September 9, 2010

Malaysia Growth at Risk as Dagger-Waving Repels Ethnic Chinese

Malaysia's Prime Minister Najib Razak
Malaysia's Prime Minister Najib Razak speaks in Kuala Lumpur. Photographer: Goh Seng Chong/Bloomberg
Ethnic Malay workers walk to a factory
Ethnic Malay workers walk to the Western Digital factory in Petaling Jaya, Malaysia. Najib pledged to boost growth by unwinding a policy of ethnic bias began four decades ago by his father. Photographer: Goh Seng Chong/Bloomberg
Veeramah, an ethnic Indian, at her flower stall
Veeramah, an ethnic Indian, works at her flower stall in Kuala Lumpur's Chinatown. Ethnic Chinese and Indians make up about 32 percent of the nation's citizens. Photographer: Goh Seng Chong/Bloomberg
Vikneswary, an ethnic Indian, at a clothing shop
Vikneswary, an ethnic Indian, displays clothing at the Ammas Fashion shop in Bricksfield, Kuala Lumpur. Photographer: Goh Seng Chong/Bloomberg
Display of running shoes in Kuala Lumpur's Chinatown
A shopper walks past a display of running shoes in Kuala Lumpur's Chinatown. Failure to win back Chinese voters could jeopardize Najib's Economic Transformation Program. Photographer: Goh Seng Chong/Bloomberg
A factory is demolished to make way for a new project
A factory is demolished to make way for Icon City, a residential, office, retail, and hotel project by Mah Sing Group, in Petaling Jaya, Malaysia. Under the Economic Transformation Program, Najib wants to triple gross national income to 1.7 trillion ringgit in 2020 from 600 billion ringgit in 2009 and create 3.3 million jobs. Photographer: Goh Seng Chong/Bloomberg
New factories available for rent or sale
Eric Chong, real estate agent with City Two Property, hangs up banners at newly completed factories available for rent or sale, in Petaling Jaya, Malaysia. Photographer: Goh Seng Chong/Bloomberg
Kuala Lumpur skyline
Foreign investment coming into Malaysia fell 81% last year to $1.4 billion, companied with an outflow of $8 billion, according to the United Nations 2010 World Investment Report. Photographer: Goh Seng Chong/Bloomberg
Prime Minister Najib Razak is trying to build a Malaysian economy as powerful as in the 1990s, when stock prices almost quintupled in the decade through 1996. Now his efforts to lure investors are stirring opposition from some members of the ethnic-Malay majority that put him in office.
Najib has pledged to boost growth by rolling back key policies of ethnic favoritism that his father began four decades ago. Leslie C., an ethnic Chinese, responded by moving to neighboring Singapore, which has grown 81-fold since 1971, when the Malaysian ethnic measures were introduced. Malaysia’s economy expanded at half that pace.
“I don’t think any politician will be different,” said Leslie, 36, who left Kuala Lumpur in June and didn’t want his full name reported. His family will follow, at a time when Singapore’s Malaysian-born Chinese resident population has jumped 31 percent in the past decade. “I want a better future for the kids, an opportunity for them to start on even ground, not as second-class citizens.”
Removing curbs on the Chinese and Indian minority, a group that includes nine of Malaysia’s 10 richest people, is key to Najib’s New Economic Model, designed to turn Malaysia into a developed nation. The changes are opposed by some politicians who helped Najib gain power, including ex-premier Mahathir Mohamad. At a rally in March, former deputy law minister Ibrahim Ali brandished a traditional “keris” dagger as the crowd chanted “Long live the Malays.”
Discontent in Najib’s United Malays National Organisation, which dominates the ruling Barisan Nasional coalition, comes as Malaysia loses ground to its neighbors. Foreign investment in Malaysia fell 81 percent last year to $1.4 billion, according to the United Nations 2010 World Investment Report. Singapore, Indonesia and Thailand all fared better.
Right Things
“Najib appears to be saying all the right things, but the actions of many within UMNO are not necessarily in the spirit of what the prime minister is saying,” said Stephen Hagger, head of Malaysian equities for Credit Suisse Group AG in Kuala Lumpur. It will be up to politicians and the civil service to implement Najib’s plan, he said. “This is where our confidence falters.”
Malaysia’s growth fell to an average 4.7 percent a year in the past decade, from 7.2 percent in the 1990s, when then-Prime Minister Mahathir wooed foreign manufacturers and built highways, the world’s tallest twin towers and a new administrative capital.
In comparison, the economy of Singapore, which split from Malaysia in 1965, expanded 7.3 percent in the 1990s and 5.1 percent in the past decade. Singapore grew 18.8 percent last quarter from a year earlier, compared with Malaysia’s 8.9 percent pace.
Leaving Malaysia
More than 304,000 people left Malaysia between March 2008 and August 2009, including about 50,000 who went to study abroad, A. Kohilan Pillay, deputy foreign affairs minister, told parliament in November 2009. That compares with about 140,000 who left in 2007, he said, without giving an ethnic breakdown.
The government wants to persuade as many as possible of the 700,000 citizens living and educated abroad to return, Deputy Prime Minister Muhyiddin Yassin said in a June 15 interview in Kuala Lumpur.
Chinese and Indians make up 29 percent of Malaysia’s 28 million population. Eight of Malaysia’s 10 richest people are ethnic Chinese and one is Indian, according to Forbes Asia. Between them, they control or have interests in banks, satellite and mobile-phone operators, power and commodity producers, construction companies and property developers.
Sons of the Soil
Abdul Razak, Najib’s father, initiated the preferences in 1971 as the country’s second prime minister. He sought to raise the share of national wealth to at least 30 percent for the Bumiputeras, or “sons of the soil,” about 60 percent of the population. The plan gave Malays and some indigenous groups cheaper housing as well as priority for college places, government contracts and shares of publicly traded companies.
The measures followed post-election race riots between Malays and Chinese in 1969 that left hundreds dead.
“Malaysia has done very well in the past 30 years, and affirmative action was a strong contributor to political stability that allowed for such economic development,” said Masahide Hoshi, a director at Phalanx Capital Management HK Ltd. in Hong Kong, who helps manage $100 million. “However, these same policies could impede Malaysia in the long term. The government must make changes soon.”
Leslie, who works in the insurance industry, wasn’t eligible for housing discounts and some scholarships because of his ethnicity.
Behind Targets
Groups championing preferential treatment for Malays say they are protecting the constitution and want the policies to continue because targets haven’t been reached. Bumiputeras held about 22 percent of corporate equity in 2008, up from 2.4 percent in 1970, according to a government report.
“Malays have not gained for themselves the 30 percent target in corporate ownership,” Mahathir wrote on his blog on Aug. 9. “If a proper audit is made, their wealth is even less than 30 percent of total wealth of the people of Malaysia. Most of the wealth of the country belongs to the Chinese.”
In his first 100 days in office after taking over from Abdullah Ahmad Badawi in April 2009, Najib, 57, eased so-called affirmative action rules governing overseas investors, initial public offerings and property purchases. In June 2009, he told participants at an annual investment conference in Kuala Lumpur that the country is at a “critical juncture” and that failure or hesitation to act will have “long-term ramifications.”
Slowing Pace
In the nine years between the end of the 1997-1998 Asian crisis and the 2008 global financial turmoil, the benchmark stock index rose 147 percent, less than half the increase in the decade leading up to 1997.
Najib is trying to triple gross national income to 1.7 trillion ringgit ($546 billion) in 2020 from 600 billion ringgit in 2009 and create 3.3 million jobs. To do that, he says the country needs 2.2 trillion ringgit of funds, with 92 percent coming from private investment.
Central to the plan is his New Economic Model, announced in March, which aims to ensure that beneficiaries of affirmative- action policies are the bottom 40 percent of households by income across all ethnic groups. The government has yet to release details on how it will change the system.
Malay rights groups such as Pribumi Perkasa Negara won’t derail the prime minister’s agenda, Trade Minister Mustapa Mohamed said in Singapore last month while on a trip to attract investment.
Government Decides
“As a government, we’ve got to consult with various parties,” he said. “But in the end, the government will decide what’s best for the country.”
Mark Mobius, who oversees about $34 billion as executive chairman of Templeton Asset Management Ltd.’s emerging-markets group and invests about $1 billion in Malaysia, says Najib is moving Malaysia in the right direction.
“Malaysia is really going through a transformation with the political changes that we’ve seen,” Mobius said in an Aug. 16 interview. “They are now beginning to accept a wider array of alternatives.”
Foreign direct investment into Malaysia slumped to $1.4 billion in 2009 from $7.3 billion the previous year, according to the UN’s World Investment Report. That’s less than the $4.9 billion Indonesia attracted and the $16.8 billion received by Singapore. Foreign investment rebounded this year, helping Malaysia lure the equivalent of $1.6 billion in the first quarter, Mustapa said on July 26.
Competitive Position
“The issues of corruption and transparency continue to weigh on investors’ minds,” said Joseph Tan, Singapore-based Asian chief economist at Credit Suisse Private Bank. “Beyond commodities, it is difficult to see Malaysia’s competitive advantage vis-a-vis other Asian countries.”
The FTSE Bursa Malaysia KLCI Index has gained 13 percent in 2010, compared with a 27 percent increase in the Jakarta Composite Index and 25 percent for the Philippine Stock Exchange. Singapore’s Straits Times index rose 3.9 percent.
Najib’s successes include ending a requirement that listed companies set aside at least 30 percent of their stock for ethnic Malay and indigenous investors and trimming some fuel and food subsidies in July to save 750 million ringgit in government expenditure. Najib plans to narrow the budget deficit to 2.8 percent of GDP by 2015, from an estimated 5.3 percent this year.
Smaller Margin
In 2008, the Barisan Nasional coalition, of which UMNO is the biggest party, had its slimmest election victory in more than 50 years as the opposition criticized the government for ethnic bias and failing to tame poverty and corruption. Najib faces his first election as prime minister by 2013.
Perkasa has about 100,000 members, at least 60 percent of whom are UMNO members disillusioned with the party’s ability to protect Malay rights, Zubir Harun, vice president of the group that held the keris-wielding rally, said in a telephone interview in July. He said the dagger is a “ceremonial” symbol of Malay culture and displaying it wasn’t a message of violence.
“Any policy that erodes the rights of the Malays, we will fight,” said Zubir, 50, who said he’s an UMNO member.
Lim Guan Eng, secretary general of the opposition Democratic Action Party, said in a telephone interview that Perkasa was “a narrow, sectarian, racist group” harmful to national interests, and urged Najib to avoid what he described as pandering to them.
“It’s crunch time,” said Lim, also chief minister of the state of Penang, where companies such as Intel Corp. have factories. “Najib has been extremely political about it but it is time to get to the economic nuts and bolts. He has to be serious about meritocracy.”
Najib needs to speed up implementation, said Manu Bhaskaran, Singapore-based head of economic research at Centennial Group Holdings, which advises on emerging markets.
“If the follow-through is not there, then a lot of investors will say ‘That’s it, there are more interesting things to do than wait for Malaysia to get its act together,’” he said in an August telephone interview.

Tuesday, September 7, 2010

Is the property market bubbling over?


September 07, 2010

Property prices have continued to surge despite a growing supply overhang and low occupancy rates. — Pictures by Choo Choy May
KUALA LUMPUR, Sept 7 — Prices of residential property have surged by as much as 34 per cent in the past year despite a growing overhang in supply, far outpacing income growth and giving rise to concerns that the market is becoming unsustainable.
Figures provided by the National Property Information Centre (Napic) show that average prices for residential property in Malaysia rose a whopping 16 per cent to RM212,815 in the first half of this year, from RM183,807 in the same period last year. For Kuala Lumpur, the increase has been even more dramatic, rising an eye-watering 34 per cent to  RM485,435 in the first half of the year, up from RM362,569 last year.
The market, however, may be starting to lose its appetite for properties due to the high prices.
Napic’s Property Overhang reports show that unsold properties in Malaysia rose to 22.6 per cent of new launches in the second quarter of this year, from 19.5 per cent in the fourth quarter of last year. For Kuala Lumpur, unsold properties rose to 16.1 per cent from 15.8 per cent, while for Selangor it rose to 14.6 per cent from 12.4 per cent.
Checks on developments completed this year also show that vacancy rates remain at 50 per cent or higher.
The Edge business weekly reported recently that the government is mulling capping mortgages to 80 per cent of value in a bid to keep the market from overheating although MCA has come out strongly against the move. This comes as Singapore introduced a series of measures to reign in investors and speculators, such as a 70 per cent mortgage cap for buyers with more than one property and launching 36,000 public housing units this year and next.
While Napic does not have a housing affordability index, a rough calculation shows that the average price of RM212,815 is about 4.4 times that of an average annual household income of RM48,000. The average price of a KL home is now a steep 9 times that of the average urban household income of RM54,000 and a possible sign that the market is headed for a bubble.
The sharp increase in prices is said to be at least partly due to speculative demand as investors snap up multiple properties in the hope that prices will keep on spiralling upward — despite low occupancy rates that could affect rental yields.
Some real estate agents and developers have privately expressed worries that the market is already too speculative and the price escalation is not sustainable.
“I am all for sustainable price growth but the current market is too speculative,” one developer told The Malaysian Insider. “Most of the units are taken up by employees of the developer hoping to sell for a profit when the development is completed.”
Many developments completed in the past year such as Ameera in SS2 Petaling Jaya, Cova Suites in Kota Damansara and Challis Damansara in Sunway Damansara are experiencing only about 30-50 per cent occupancy rates, according to real estate agents. A check on new high-end condo Zehn in Pantai where sellers are asking for RM2.2 million per unit revealed the building to be almost completely dark at night.

Rental yields are starting to slide given that supply far outstrips demand.
A typical unit at Ameera is on the market for RM750,000. Given a 90 per cent margin of financing (MOF) over a 20 year tenure, the monthly loan repayment for a unit there works out to be about RM4,855. Rental rates at Ameera, however, are only about RM3,000 for a partly furnished unit.
A stand-off could be developing where buyers are now balking even as sellers are trying to hold out for higher prices.
Red FM DJ Terry Ong who has been on the lookout for a condominium said that housing has become “unaffordable” and has taken himself out of the market.
“I am not in a hurry,” said the DJ who is currently paying RM1,100 in rent at a less than full condominium complex, where sellers are asking for between RM350,000 and RM400,000.
Engineer Edward Seah said that while he would like to upgrade from his current condominium, he will not buy another house given current valuations.
“Are such high prices warranted?” he questioned. “I refuse to feed into the current property frenzy.”
Housing and local government minister Datuk Chor Chee Heung said that the high savings rate in Malaysia meant that there appears to be no shortage of takers despite the prices.
He added that there will be a limit although he was unclear as to how far prices will continue to rise.
“We have to continuously tell developers not to push the boundaries,” he said when contacted by The Malaysian Insider. “There is bound to be a maximum.”
Chor said that the government is building some 76,000 low cost units that cost about RM42,000 each in the next three years, but it is unable to tell private developers how much to build to boost supply of middle class housing in the market.
Real Estate and Housing Developers Association (Rehda) president Datuk Michael Yam said that the issue of rising property prices was partly due to an imbalance of supply and demand as more migrants move to land scarce Kuala Lumpur as well as higher cost of raw materials.
“Even if 50,000 new housing units are needed in KL, that is still a huge number to build,” he said at a recent Rehda media briefing.
* Figures for average residential property prices in Malaysia and Kuala Lumpur that were earlier reported reflected all property types and have now been corrected to reflect only residential properties.

Sunday, September 5, 2010

" Balik China " the popular phase in Bolehland now! ?!!!!

It seems that  "Balik China " is the hottest words  in Boleh land now........

For the past few weeks, we have heard this word came out from the mouth of Head Masters, Ustaz and in  the latest case, the mouth of policeman....

and sadly it happens during this holy month......

Apa sudah jadi Malaysia?

I STRONGLY urge our people don't fall into their trap, whether they have  personal agenda or not.....

We should show good example to these racist people not because of specific reasons but because we are TRULY MALAYSIAN!!!!!!!!!!!!!!!!