Jun 22, 2008

So Much happen in 3 Days..

Was away for 3 days and seems so much happenings since i was out of the country.

  • And now Najib wants to build a Nuclear Plant! is this a joke? or is he trying to distract from the issue at hand here. First go and cancell all the IPP contracts, these guys are fleecing us with their high rates and lopsided contracts.

  • And the stooppid state assemblyman from DAP; Gwee who got booted out of the state assembly.

And what are about the Barisan Nasional 100 day report? Their promises of reform are all talk and nothing yet, they are still talking talking and talking and the only thing they have done is to increase fuel prices!

Jun 18, 2008

Added Tools and Information on this Site

In this blog you will be able to monitor continous update of World Stock Market, World Crude Oil Prices, Malaysian News Update at the Side Bar as well as an International Currency Converter at the bottom of the page.

This are added for your convenience and to make the Blog more interesting and fun, as i am quite a traveller and frequently uses the currency converter which is on the current exchange rate updated continously 24 hours a day.
For the world stock indices, just put your cursor over the symbol to highlight the name of the indexs or click on it for the daily chart. Just try it click everywhere.

This all makes the site more enjoyable for me and all.
P.S. Just can't resist borrowing a picture from http://malaysiafinance.blogspot.com/ : ) had a difficult time trying to pick one. : ))

Jun 17, 2008

Petronas Has Been Publishing its Accounts?

This is a bit funny that the Son In Law Khairy Jamalludin has called for the Petronas accounts to be made public and not many people seems to be aware that the accounts of Petronas is a public document and that Tan Sri Mohamed Yakcop gives the impression that they do not seems to know otherwise he could just come out in the open and just state that the accounts is being published.

However, despite that their accounts are being published, the call here is that Petronas should be open to scrutiny and reports their activities to Parliament.

We shall now review their accounts for better information and will revert our opinion on this blog.

than click on company background than click on Investor Relations and there the annual reports for the corresponding year.

Jun 15, 2008

"People Have The Right To Know" - Khairy Jamaluddin

Khairy calls for the Petronas accounts to be made public. So looks like this call from the Son In Law gives a glimmer of hope that the accounts might be made transparent despite repeated complaints from the public and NGOs.

“I will personally bring up the matter in the next Parliament sitting. If it can be discussed in Parliament, then we can find out if Petronas can afford to pay more in oil royalty to the oil-producing states,” he said.
Khairy said he agreed in principle that oil-producing states like Sabah, Sarawak and Terengganu should be given more attention in terms of oil royalty payment “but not to the extent of asking for 20 per cent when we do not know how much Petronas is making”.
He said these three states were still lagging behind in mainstream development as compared to other states in the country.
And, Khairy also said as an elected representative of the BN government he found it difficult to defend the government on the issue as the people would ask what had happened to billions of ringgit in profits made by Petronas.
“Without facts the people will not believe what we tell them,” he added.

Khairy is speaking to reporters from Kota Kinabalu, Sabah after attending an UMNO youth programme.

Hmm... wonder whether he will bump into zorro, shanghai fish, muststopthis and the gang who are all now in Kota Kinabalu.
Tan Sri Nor Mohamed Yakcop also in Kota Kinabalu was asked in a separate interview about the call by Khairy to make Petronas account public said that the senior officials of the company will be making an announcement on this matter next week.
Now why is so many people visiting East Malaysia these days? Kota Kinabalu and Kuching has become hot political destination.

Jun 14, 2008

Done Deal

Pak Lah’s Done Deal With Najib

(Like the above headline from Sin Chew.) They have strike a deal on who shall become the next PM of the country and yes the Prime Minister of the country is elected by one man only and on the terms and condition as agreed upon between themselves. Pak Lah said "Datuk Seri Najb and I have decided on the right time for me to hand over the premiership to him." as reported in Malaysiakini.

What about the so called coalition government of Barisan National, oh forgot! the other component parties are just an UMNO tag along and it's got nothing to do with them and their views are never seek nor considered. What about the Agong, isn't he the one who appoints the PM?

What about UMNO? Do they get to vote for their leader? Don't even remember when they had their leadership elected and it seems like a long long time ago and even than the party and their members' view have not been sought. In the BN government it all boils down to just one or two person that decides what is best for the country. The party and its members' view are not significant for such an important position as the Prime Ministership of the country and no need to mention the other coalition party of the BN as they Become Nothing.

Jun 12, 2008

Then and Now - Are we better off?

Just came home from an illegal assembly with more than 5 people of fellow bloggers and some bloggees (bloggees are people who spend their free time reading blogs and they only read and does not even comment) and we exchanged views on recent happenings and shared some jokes and funny stories and not to mention we down a few glasses of malt and barley and some 18 year olds.

We came to the topic of the country and began to moan and groan on how much of a laggard the country has been whereby going back to the time when Tun Dr, M first became the PM back in 1981 and that we were than an economic leader in the region way ahead of countries like Taiwan, South Korea, Australia and even way ahead of Singapore as i remembered than the exchange rate was about 1 : 1 and Singapore used to be a cheap holiday destination for us Malaysian whereby we would return with a trunkfull of bargains items of all kinds from fruits, blankets to electricals items, and just compare it today the currency exchange rate is at almost RM 2.42 for 1 Sing dollar! It is no longer a cheap holiday destination and the reverse has happen and that Malaysia is today a cheaper or cheap cheap holiday destination for the Singaporeans and the region. We have now become a cheap country?

A small and barren island state without any natural resources and a small population of approx 4.5 million people has now become an economic power in this region with a leading score of second in the CPI (Corruption Perception Index) as compared to Malaysia at no.43. The general comparison using the CPI is that countries with a high CPI are countries with a strong and healthy economy which is to say that if a country is clean of corruption that particular country will achieve a progressive and vibrant economy and that the wealth in the economy will be better and more efficiently managed.
With reference to Syed Hussein Alatas book of the mid 90s titled "Corruption and the destiny of Asia" whereby he calls it "Tidal Corruption" as defined in brief as corruption that floods the entire state apparatus involving those at the centres of power and like the tide it rises to cover a wider area and immense the surrounding vegetation. Corruption stifle growth and breakdowns socities and inflicts sufferings on its population.

The issue here is that we have been such a laggard in terms of economic growth and that there is much for the country to achieve or to catch up to and that we do not need or deserved to be where we are today and the issues are many from educational standards, to structural and economics reforms. There is so much that the country has been blessed with like natural resources of commodities and oil, and who says we don't have the talent or the intellectuals as every where you can go to you will find Malaysians in the top echelon of the corporations and society and even in the services of foreign governments. We definitely have the talents and the human capital, it is just so that the ruling elites are so engrossed in their internal politics and there are those who says that in Malaysia politics is big bucks and a good way to make a lot of money and yes these are just too blatant and that there are many examples of the day.

Wife is complaining as it is 4.30 am now, got to finish here so the question is where do we go from here? and it is the people who must decide and please remember that your decision only comes into play every once in 4 years or so but than again meanwhile the opportunities do come about and we have to make or let ourselves be heard and that there are many ways and methods to this and remember that every little done culminates to much and sometimes the unexpected burst of force as in the Bersih march as expanded in Haris's People Parliament post "Standing in solidarity with BERSIH". read more here; http://harismibrahim.wordpress.com/2008/06/10/standing-in-solidarity-with-bersih/
So people, come on now, lets get together and let us make a difference ( sounds like a song..) as there is so much that we have lost by fearing to attempt and your silence is interpreted as approval by the government of the day. Just let yourself be heard and there are many ways that are peaceful such as blogs. (haha) and sometimes just a word or two in support of a topic or subject in a blog is a good start. And the more adventurous can and will always be welcomed to take a walk to burn out some cholesterol and sometimes you have to run when they spray water or something (hahaha) but don't worry as it can be good fun and quite exciting.(but make sure you really run).

Jun 10, 2008

In Support of a Gradual Abolishment of Fuel Subsidy towards a Free Market Economy

Most of the city folks that I spoke to are in fact in accord towards the gradual abolishment of Fuel Subsidy or somewhat of a reduction however it is the drastic and hasty actions adopted by the BN Government towards this end which reflected on an unduly and ill considered decision.

As usual this government has terrible communication with inconsistent messages being disseminated to the Rakyat all throughout leading to the sudden decision. Earlier announcements from the Minister were that come August there would be some reduction in the subsidy or at least that is the perception of the public and loads of other confusing decisions and media reports as well as the perplexity on the sales of fuel to foreigners entering the country. And coupled with the announcement of oil royalties and their distribution which has raised many questions of which the government has so far been just keeping silent.

It is common sense and does not require a high powered committee to tell you that the deduction has to be gradual and that the effects and those that are most affected be it individuals or industries have to be addressed. What with such hefty increases of 40 and 60 percent which will create a spiral upwards of all cost of goods and services in the country as fuel is the essential cost of all and everything.

And recently when MTUC (Malaysian Trade Union Congress) called for an increase of the minimum wage to Rm900 and a cost of living allowances and which was not being considered by the government, 40 percent of MTUC members earns Rm700 per month which is just above the poverty line of Rm691, and who defined this amount as to be qualified to be poor? And may almighty god help them now with this heavy increase in the cost of living.

The headlines by the Singapore Channel News Asia titled “Malaysia Scrambles to Soften Fuel Price Blow as Protest Looms” aptly describes the Government ill conceived actions and now suddenly all kinds of measures are hurriedly announced. But Salahuddin Ayub, youth leader of the Islamic opposition party PAS, said that as a net oil exporter, Malaysia did not need to implement such a drastic overnight increase.
"We are really very sorry that it has to be this way but it seems the government led by Abdullah has been stubborn, and has not listened to the people," said Salahuddin.
"We will peacefully protest until the government does something to address this issue and review their decision," he added.

And in the tradition of the BN government, another High Powered Committee has been formed and called the “National Inflation Council” and hot off the press the members of the council have been named as follows:

The council is chaired by Prime Minister Abdullah Ahmad Badawi with Deputy Prime Minister Datuk Seri Najib Tun Razak as deputy chairman.
The members are Second Finance Minister Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department Tan Sri Amirsham A. Aziz, Transport Minister Datuk Ong Tee Keat, Housing and Local Government Minister Datuk Ong Ka Chuan, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad, Agriculture and Agro-based Industries Minister Datuk Mustapa Mohamed, and International Trade and Industry Minister Tan Sri Muhyiddin Yassin.
Other members are Bank Negara governor Tan Sri Zeti Akhtar Aziz, Chief Secretary to the Government Tan Sri Sidek Hassan, Economic Planning Unit director-general Tan Sri Sulaiman Mahbob, and Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah.
Members from the private sector are social activist Tan Sri Lee Lam Thye, MTUC secretary-general G. Rajasekaran, Universiti Kebangsaan Malaysia vice-chancellor Datuk Dr Sharifah Hapsah Syed Hasan Shahabudin and Bank Rakyat chairman Tan Sri Dr Syed Jalaludin Syed Salim.
Also members are Etiqa Insurance Bhd chairman Tan Sri Mega Zaharuddin Megat Mohd Nor, former deputy Bank Negara governor Tan Sri Lin See Yan, Federation of Malaysian Manufacturers Tan Sri Yong Poh Kon, and economist Datuk Zainal Aznam Yusoff.
Bank Negara directors Datuk Oh Siew Nam, National Farmers’ Association representative Datuk Zainal Dahalan, and Bernama chairman Datuk Seri Mohd Annuar Zaini are also members, as are Malaysian Employers Federation president Datuk Azman Shah Harun, Pan-Malaysia Bus Operators Association president Datuk Ashfar Ali, Cuepacs president Omar Osman and Federation of Malaysian Consumer Associations representative Yusof Abdul Rahman.

Abdullah also announced the formation of three committees – the first to look into more efficient use of energy resources, the second to enhance public bus service and the third to improve dissemination of information to the media.

Oh My God! Now how are these guys going to meet and won’t such a committee be costly to maintain and won’t it distract them from their primary duties? Just imagine when these guys goes for the council meetings with each member being accompanied by their assistants, bodyguards and secretaries, and you probably need a ballroom or a hangar to housed all of them. And what a waste of petrol it is going to be with all of them driving to the meetings. What are the cabinet ministers and ministries do? You need to form such a big council to do their work for them.

Do we need a council and committees to be debating and meeting over what is best for the Rakyat? or is it a bit too late? or by the time the council set up and talk talk talk over kuih and coffee and by the time they come to agreement it will probably be time for next election. Just wake up, open your ears and listen to the people the answers are blowing in the wind.

Now they are distributing cash this 14th June, saturday in an attempt to appease the rakyat, now i am really not in support of this cash rebate as it does not fairly and equittably alleviate the problem of the lower income group and this system is flawed in the sense that the rich and able will probably be the one mostly benefitting from this as they propably be owners of a few cars or more.

Come on, the Rakyat basically wants to know how and where is the Petronas money, it should be transparent, be honest with the Rakyat and they will lend you their support and understanding. The general sentiment is that the Rakyat feels that their money has not been properly managed and when there are no transparencies there is going to be riling speculation.

(In relation to the earlier post Free Market Regime)

Jun 9, 2008

Fuel Price Increase an Insult to Sabah

Unacceptable and an insult to Sabah: SAPP
Kota Kinabalu: The latest fuel price increase is unacceptable and an insult to the people of Sabah who gave almost 100 per cent support to the Barisan Nasional (BN) in the last general election to stay in power, said Sabah Progressive Party (SAPP) stalwart, Datuk Tham Nyip Shen.
"The people of Sabah would not have imagined that this is what they would be getting for supporting the BN in the last election," he said in a statement, Friday.
Tham, who is also State Science Adviser, noted that the fuel price hike announcement came as a surprise after Domestic Trade and Consumer Affairs Minister, Datuk Shahrir Ahmad, had earlier the same day stated that the Government would only be announcing a new scheme for the fuel subsidy in August.
So crossover to PAKATAN?

Jun 5, 2008

Free Market Regime?

They say energy cost will be at a free market prices regime and i say yes lets have a free market regime in Malaysia and guided by a free price system without any BN government intervention.

Let all goods and services be free and fair competition based on supply and demand and all government tenders and supplies be free from intervention and based strictly on merit and not on some old bull-shit economy plan and there will no longer be any giving out of tenders without a free bidding system and let all accounts be published and open for public scrutiny.

Let Malaysian enjoy a free market economy and let the foreign investment flow freely into the country. Let there be economic freedom and do away with unneccassary permits and long approvals and processes that is stifling our buisness.

Free up the so called GLC as the government has no buisness to be in buisness and let the people managed their own companies appointed based solely on their expertise and let these companies be accountable to the people and not the government. Lets be free of cronysm and nepotism.

Let the people be free of draconian principles and lets us be free of protectionist tariff. Let the people be competitive and let the people and country progress as one rakyat. Let the people be free to cooperate with one another without the BN bumbling and stumbling coercion and intervention.

Let there be free medical for the people, free education for our children in a free education system equivalent to international standards and let Malaysia be free and great again.

FREE MARKET REGIME? And again i wonder whether this government knows what they are talking about? Can they set us free to give us the freedom so that the people can enjoy prosperity and progress? Can they let the Civil Society Grow?

"Economic freedom for the creation and sustainibility of civil and political freedom." - Milton Freidman -

Malaysia Moves To Completely Abandon Fuel Price Subsidy

Prime Minister Datuk Sri Abdullah announced at 5pm today that the price of fuel will be adjusted, with Ron 97 petrol going up from RM1.92 a liter to RM2.70 a liter (an increase of 78 sen). Ron 92 petrol would also be increased by 78 sen to RM2.66 per liter, while the price of diesel would increase by RM1 per liter (from RM1.58 per liter to RM2.58 per liter). The new fuel prices will come into effect at midnight.
(I am just wondering how the mathematics was based on? or maybe just sounds good for them... in chinese like 78 sure prosper and 1.00 is sure and steady!)

He said that after decreasing the fuel subsidy, the government would offer cash rebates to car owners when they renew their road tax based on the horsepower of their car engines. Owners of cars with engines that are 1.999L or less will receive RM625, while motorcycle owners would receive a rebate of RM120.
(And this is rediculous! Go rebates the millionaires and billionaires as well! Subsidies are for the less privileged... for goodness sake! And you just wonder how decisions are made for the rakyat!)

Domestic Trade Minister Shahrir Samad said the pump price could rise as high as 3.00-4.00 ringgit when price controls are completely removed in August. Malaysia is moving to cut the bill for its extensive petrol, diesel and gas subsidies, which Shahrir said are expected to cost 56 billion ringgit (17.3 billion dollars) this year.
(So what are they going to do with all the savings of 56 billion ringgit?)

The subsidy cut was deeper than anticipated, said Yeah Kim Leng, chief economist with research firm Ratings Agency Malaysia. "A price increase has been seen as inevitable and expected, but what happened is way beyond expectations," he told AFP. "We were looking at 20 to 30 percent but 40 percent means the government must be trying to make up for not raising prices last year as well." Under a revamped subsidy system, drivers of smaller vehicles will receive a cash payment of 625 ringgit to offset the rising cost, equating to subsidising some 800 litres of fuel. Yeah said the rebates were not large enough to compensate for average use. "It is clearly only a partial subsidy so we need to see how the lower-income group will be able to now absorb all this," he said.
(There is no need to see my friend, as the lower income group will definitely not be able to cope with the rising cost or to be correct it is spiking cost as the cost of living will just spiral upwards or just abruptly jumps right up into your face!)

Despite the urgent need to lower the subsidy bill, the government is braced for a public backlash over any further increase in a country where public transport is poor and many people are dependent on their cars.
(Now why do you think that we had the subsidy in the first place?)