Oh No!!!!!
Please be mindful Malaysian citizens ....The ever evil Mahathir is back.....
Now he tried to stir up racial sentiments between Chinese and Malay again......
Beware this old man ...........and also watch out his son who is competing in this week 's Umno party election......
Read below articles and you will know what I mean...
http://www.themalaysianinsider.com/index.php/malaysia/20987-dr-m-says-malays-are-under-threat-
So now you can imagine the quality of UMNO 's politicians..................
To my dear Umno members friends, good luck to you as Umno will never discharged from herself with corruptions if leaders like Mat Taib still can survive in Umno......
It is confirm. Mohd Ali Rustam was found guilty of breaching the party's ethic and was barred from contesting the No.2 Post.
Nevertheless, as reported in Malaysiakini, Mohd Ali Rustam will remain as Melaka's chief minister as mentioned by Najib.
http://www.malaysiakini.com/news/100391
Hello Najib, money politics mean corruption and this is a very serious allegation against Mohd Ali Rustam . Hence, there is no way Mohd Ali Rustam can continue to helm the post.
Melaka need a clean leader. If Umno don't want corrupt leader, netizens in Melaka do not deserve one too......
Najib, there is no selective punishment and certainly you has no right to speak on behalf Melaka's citizen ..........
Mohd Ali Rustam, if you are a man with dignity, please quit the post immediately.....
Najib do you mean that Ali Rustam is not good enough to be a senior leader within the party because his agents breached campaign rules(and the worst thing is that to push all the fault to Ali's political secretary), nevertheless he is good enough to be chief executive of a state?
Najib....You must be crazy.....................
p/s we have not seen any action taken by the ever efficient MACC? why so slow this time?
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A self-made millionaire, Sir Richard said the economic downturn has provided entrepreneurs with their greatest opportunity in years, reported The Times.
'Fortunes are made out of recessions. A lot of entrepreneurs get going in the economic depths because the barriers to entry are lower,' he said. 'There are a lot of Richard Bransons that will come out of the next three or four years.'
According to a report on news.com.au, Sir Richard highlighted financial liquidity as the most important area for governments to focus on during the financial crisis.
'We cannot allow perfectly decent companies to go to the wall just because they cannot get liquidity. And if your bank is behaving badly, then shout about it because no business can afford to lose that lifeline,' he warned.
He also urged business leaders not to panic and cut jobs unnecessarily.
Sir Richard also offered small and medium-sized business some tips on how to get through tough economic times.
'You have to come up with imaginative ways of saving cash, like signing every cheque yourself. You would be surprised how much you can save even in large companies if the boss questions every purchase order that goes out,' he said.
MARCH 9 – This is Malaysia, right? Bolehland, where if you know the right people, everything is possible. Strange stories of incredible things have happened in Bolehland. Bolehland is a “can do” attitude that we must all be proud of. Anything and everything is possible.
Just like Singapore with its “Kiasu” – afraid to lose – attitude, Bolehland means there are no obstacles too hard or difficult to overcome.
We like to laugh at the Singaporeans and their kiasu ways but I must say we are better off than our pesky neighbour since our antics are far superior to theirs.
I say this because there are a few stories in the past few weeks that confirmed that you can only make it if you have the right Bolehland attitude.
I shall repeat these stories here purely for illustration purposes. I do not know if they are true or not but all have been widely reported. Again, I need to stress I am merely repeating these allegations.
Case 1. Do you know that you have to see the Prime Minister to get a Perodua dealership? I am not kidding. It seems that a Perodua dealership is a licence to print money so only the highest political office can grant this patronage.
Don't believe me? Kindly refer to the press conference and confession by Chithirakala Vasu who thanked the great MIC leader for going to Tun Dr Mahathir, then the prime minister, to help her husband to get a Perodua dealership. Is it any wonder that our PM is always short of time since he has to deal with things like Perodua dealership?
Case 2. According to the French newspaper, Leberation (5th March 2009), a Malaysian company called Perimaker received 114 million euros (about RM500 million plus) for “support and coordination services” in a submarine deal made by the government.
It looks like the government cannot buy direct like most countries but must use a middlemen or company to buy submarines. No wonder every ambitious person I meet nowadays called themselves “consultant” since talking can net you RM500 million plus. My Hokkien friends tell me that in Bolehland, the most senior consultants are called “kantow-tants”.
Case 3. One Bahasa daily devoted a full page to the phenomenon of Malay men who leave their wives for “pondan” (transvestite) lovers. The Pertubuhan Kebaijkan Sahabat Insan Malaysia (Sidim) chairman had apparentl had received many complaints from wives whose husbands had left them for she-male lovers.
No doubt, after detailed investigations and scientific surveys, the blame for the husbands’ pondan leanings will be on the wives’ attitude. The chairman advised wives to “take care of your husbands’ hearts ... pamper them ... because in these cases some husbands say that they fall in with transvestites because they get extra services, and transvestites are more devoted than their own wives."
Now all these while I was under the impression – and I have heard our highest ranked politician say it a few times – Malaysia is an Islamic country.
So how can there be a “pondan” problem among the Muslim community? What are the police doing about this national security problem? Don’t they know that the fertility rate among Malays may be affected if nothing is done to stop this problem?
What happened to Wanita Umno or Puteri Umno? Do they agree that pondan issue is due to the wives?
Case No 4. On Feb 26, all drivers in the Klang Valley were hot under the collar when it was announced that toll rates would go up. Within 24 hours, the cabinet had reversed the decision. There was great joy in the streets. The government was listening to the “rakyat”. The “rakyat” can “save” on toll.
I don’t know about you, but if you had read the story carefully, it says although there is no toll increase, the government will compensate (actually, it means pay) the highway concessionaires millions of ringgit in lieu of the toll increase.
So, who lost? The toll operators have millions without collecting and money comes from the taxpayers. No wonder drivers are celebrating that the government is “listening” to the “rakyat”. I wonder how much it will cost the taxpayers like you and me everytime the government listens to the “rakyat”.
Case No 5. Jelapang ADUN Hee Yit Foong’s first public appearance at her service centre since leaving the DAP was on March 7, apparently to meet a constituent over complaints on drainage problems.
I salute her for her commitment to look after the longkang issues. If ADUNs do not look after longkang, they might do silly things like causing the fall of state government.
What I don’t understand is why did she arrive in a silver Mercedes-Benz? In Bolehland, apparently if you have a chance to sit and enjoy a drive in a Merc, you must do it.
After all, what sort of self-respecting ADUN would be seen in anything less than a Merc or Camry? The lowest one can accept is, of course, a Proton Perdana but then again, it might break down with gearbox problems outside your service centre. Then, how to escape?
It does not matter that people suspect you of winning a blue dacing lottery ticket with tons of money suddenly. You simply must show up in a Merc to confirm the story. The DAP really made a mistake by not appointing such a smart person as State Exco earlier. What talent!
I shall share more incredible – but true – stories from Bolehland in the coming months so stay tuned.
BANK Negara Malaysia yesterday raided Walton International Property Group (M) Sdn Bhd following complaints from the public on land banking schemes promoted by the company.
In a statement in Kuala Lumpur yesterday, Bank Negara said the raids were simultaneously conducted at the premises of the company in Kuala Lumpur, Kota Kinabalu and Kuching.
The central bank advised the public to be cautious of this type of land banking schemes promoted by the company.
"Any elements of deposit-taking activities and public offerings such as interest schemes or investment in real estate schemes should be referred to the appropriate authorities such as Bank Negara, Companies Commission of Malaysia and the Securities Commission," it said.
By Stephanie Phang
Feb. 27 (Bloomberg) -- Malaysia’s economy expanded at the slowest pace in seven years last quarter as exports fell, adding pressure on the government to boost spending to counter a global slump that’s cost thousands of manufacturing jobs.
Southeast Asia’s third-largest economy grew 0.1 percent in the fourth quarter from a year earlier, down from a 4.7 percent gain in the previous three months, the statistics department said in a statement today. Economists were expecting a 1.5 percent increase.
Malaysia’s central bank cut borrowing costs for a third straight meeting this week, saying the risk that the economy will contract in 2009 has risen. The government plans a second stimulus package in March to prevent the country from following Asian exporters including Singapore and Hong Kong into recession as sales of Intel Corp. chips and IOI Corp. palm oil slide.
“External demand collapsed in the fourth quarter, weighing heavily on Malaysia’s externally oriented economy,” said Nikhilesh Bhattacharyya, an economist at Moody’s Economy.com in Sydney. “I don’t believe any fiscal stimulus package can rescue Malaysia from recession. All that it will do is to limit the damage and severity. In this sense it is hugely important.”
The country’s benchmark stock index fell for a second day today and the ringgit declined for a fourth day to 3.7065 against the dollar, the weakest since March 2006. The economic data were released after markets closed.
Bigger Stimulus
The economy expanded 4.6 percent last year, the slowest pace in seven years. The government, which expects 2009 growth to slow to an eight-year low of 3.5 percent, will revise the forecast next month, Finance Minister Najib Razak said Feb. 17. The last time Malaysia posted an annual contraction was in 1998.
The second stimulus, due to be unveiled on March 10, may be as large as 30 billion ringgit ($8.1 billion), Citigroup Inc. said this week. The extra spending may exceed 10 billion ringgit to 15 billion ringgit, Trade Minister Muhyiddin Yassin said in an interview aired today on CNBC.
Najib, who is also deputy premier, is due to replace Prime Minister Abdullah Ahmad Badawi next month and needs to prevent the economic slowdown from fueling public discontent after the government suffered its worst election result in half a century last year.
The government unveiled a 7 billion ringgit plan in November and the central bank has cut its overnight policy rate to 2 percent, the lowest since the benchmark was introduced in April 2004, to bolster local consumption as companies cut jobs amid faltering demand.
‘Tough’ Environment
“The environment this year is going to be tough,” Bumiputra-Commerce Holdings Bhd. Chief Executive Officer Nazir Razak said Feb. 23. The Malaysian bank, which has had four consecutive quarters of profit declines, expects consumer loans growth to slow, he said.
Malaysian Pacific Industries Bhd., the nation’s biggest semiconductor assembler, plans to cut all its 1,700 temporary workers as it expects losses to widen, RHB Research Institute Sdn. said yesterday after its analyst met company officials. Profit at IOI, Malaysia’s second-biggest palm oil producer, has fallen two straight quarters.
Malaysian exports posted their biggest drop in almost seven years in December. Retrenchments in the country’s manufacturing industry jumped 86 percent to 18,578 last year.
Consumer Confidence
“There is a very real danger that Malaysia may witness the self-reinforcing vicious cycles gripping the developed world, where deteriorating job conditions feed into lower consumer confidence and depressed household spending, forcing employers to sack staff,” said Bhattacharyya at Moody’s Economy.com.
The $181 billion economy has “little chance” of avoiding a recession as exports and commodity prices tumble, he said.
Malaysia’s manufacturing industry shrank 8.8 percent in the fourth quarter, compared with a 1.8 percent gain the previous three months. Exports of goods and services plunged 13.4 percent, after growing 5.1 percent previously.
Investment as measured by gross fixed capital formation declined 10.2 percent last quarter for the first time since mid- 2002, the department said. Private consumption growth weakened to 5.3 percent.
Slowing growth will contain prices increases and lead to a continued easing in inflation this year, the central bank said in a separate statement. Malaysian policy makers will continue to focus on ensuring access to credit, it said.
“While global efforts have been intensified to counter the effects of the slowdown, risks remain on the downside and recovery is likely to be slow and protracted,” Bank Negara Malaysia said. “The timely implementation of the fiscal stimulus and providing the necessary policy support to strengthen the domestic sources of growth will also be vital to supporting the overall growth” in Malaysia.
Welcome to Malaysia, where privatisation has often favoured concessionaires over consumers and taxpayers, and indeed the federal government itself.
Water assets, toll highways, power plants: the list of infrastructure deals with deliciously generous terms handed out under the previous administration of Tun Dr Mahathir Mohamad just grows longer.
Yesterday, for example, it was revealed that Express Rail Link Sdn Bhd effectively collects a toll from every passenger who goes through the Kuala Lumpur International Airport.
It does not matter if these passengers use the high-speed KLIA Ekspres service to Kuala Lumpur Sentral or take a cab: ERL is paid a portion of whatever Malaysia Airport Holdings Bhd collects in passenger service charges.
Even passengers at the Low-Cost Carrier Terminal (LCCT) pay ERL.
Like several lucrative highway concessions, including one for the Lebuhraya Damansara Puchong, such deals protect the operators from falling traffic through subsidies, either direct or indirect.
According to declassified concession documents, the LDP concessionaire has to date received compensation from the government equivalent to about half the highway's construction cost.
It was either that or a guaranteed rate hike, take it or leave it. So far, the federal government has mostly taken it.
The same kind of ultimatum has been put to the Selangor state government by the private water companies. Basically, if the state government doesn't buy them out by April, Selangor's households will pay more for water. Of course, this situation is the product of a combination of factors, and not of the water concessions alone.
Years of cumulative privatisation, nice, easy terms and, finally, a last desperate attempt to rationalise Peninsular Malaysia's water system, have put a loaded gun to the Selangor state government's head, wielded by companies such as Puncak Niaga Bhd, which controls Syarikat Bekalan Air Selangor (Syabas), and Syarikat Pengeluar Air Selangor Holdings Berhad (Splash).
And don't even mention sewage company Indah Water Konsortium, whose failed existence might one day need yet another sweetheart deal.
There's nothing wrong with privatisation in itself. But these deals seem to show that everything that should have been done was not, and everything that should not have, was.
There was the first-come-first-served policy. Whoever came up with the first privatisation proposal of its kind pretty much got the deal. This of course begat a surge in half-baked, badly-priced, poorly designed proposals of any and all kinds. Build over the Klang River and call it the Kuala Lumpur Linear City? Sure. Charge households individually for sewage treatment? Why not, eh?
Then this was aggravated by the sometimes complete absence of oversight. Infrastructure development is an old, well-established game, and pricing in construction, materials, expertise and the odd consultant or two is not rocket science.
There are rules of thumb, formulas, guidelines, set pieces of negotiations even. Except in those heady days, Mat Salleh financiers fell over each other trying to lend money to the then United Engineers Malaysia Bhd and its North-South Expressway project because the deal was so yummy.
So juicy were the terms that it just had to be kept a deep, dark national secret, and taken just over 20 years for Malaysian motorists, consumers and taxpayers to be told what exactly those terms and guarantees were.
So with humongous loans hanging over your head, with repayments stretched out over your remaining lifetime, and money collected in small change every day, where's the profit to be made?
That's why you should always award the construction of the dam, highway, treatment plant, power plant, fill name of infrastructure project here, to a parent or sister construction company for the first round of short-term profit. Then float your company on the then-booming Kuala Lumpur Stock Exchange and sell a chunk of it to the Employees Provident Fund, and there's your second round. Rinse, repeat.
Leave all the risk to the Government of Malaysia and its shareholders, the taxpayers. Much like KLIA's passenger throughput, it doesn't matter if you drive, or bathe, or fly, or don't. You're paying anyway.(The Financial Insider)
