Najib Says Malays Must Stop Relying on Govt

Malaysian Prime Minister Najib Razak has said the country's predominant Malays should not to be too obsessed about the 30 per cent equity ownership target set under the decades-old affirmative action policy. 

In an exclusive interview with Channel NewsAsia, Mr Najib explained the new metrics that will be used to measure wealth for the Bumiputras. 

The Malaysian prime minister has been trying to revamp the country's decades old affirmative action policy as part of his vision to attain developed country status by 2020. 

But in the face of resistance and even accusations that he is backtracking on his earlier promises, Mr Najib said the Malay majority or Bumiputras should stop relying on government protection. 

He said: "The Malays have to change, Bumiputras have to change because this is the 21st century. The only way the Bumiputras can succeed (is) if they are globally competitive. It's not because of government protection and so forth, they must be able to compete and stand on their own." 



Read The Full Report From Chanel News Asia HERE

The Crooked Man

Now the crooked man who walked the crooked mile

Had retire after a crooked 2 and 2 but the crooked man with his crooked mouth

Could not bring to a halt with his crooked words and his crooked deeds

Even after a many crooked gains for selling down the river his crooked wares,

How will the crooked man goes for all his crooked wants

Without his crooked bridge to lay his crooked tile.

Read History of the Nursery Rhyme - The Crooked Man HERE

Singapore and Malaysia

The Boston Consulting Group, one of the leading global management consulting firm has just last week released its Annual Wealth Report and found Singapore to be amongst the top 20 countries with the most millionaires households.

Singapore, (once a part of Malaysia) is a tiny nation of 5.1 million population is ranked at no. 18 with the most numbers of millionaires and rank the highest in terms of density with 11.4 percent of the total households being a millionaire in USD (US Dollar). That is about 3.3 million Malaysian Ringgit. And this is of liquid asset which does not include the value of property owned.

Foreign Investment Plunged 52%!

Approved foreign investment in Malaysia's manufacturing sector plunged 52 percent to 22.1 billion ringgit ($6.9 billion) in 2009 amid the global economic slump but is expected to rebound this year, the trade ministry said Monday.

Tengku Razaleigh on Corruption in Malaysia

Below is an extract of the speech by Umno veteran politician Tengku Razaleigh Hamzah at the launch of ‘The Shafee Yahaya Story – Estate Boy to ACA Chief’, a book written by Shafee’s wife Kalsom Taib.


The word ‘corruption’ comes from a Latin word meaning ‘to break’ or ‘to destroy’. Corruption is a cancer that steals from the poor, eats away at governance and moral fibre, and destroys trust.

Although corruption exists in both the private and public sector, the corruption of the public sector is a more fundamental evil. This is because the public sector is the enforcer and arbiter of the rules that hold us together, the custodians of our common resources.
(Read On)

Football Betting Champion of Malaysia

So who is the champion of Football Betting?

Vincent Tan, Najib Razak or the Rakyat?

Personally i am neutral about Football Betting but does not approve the usual UMNO's way of just handing out licences to their cronies.

We already have a Casino, Sports Toto, Big Sweep and Magnum and not forgetting the many Jackpot Machine outlets all over the country. And who are the owners of these licenses?

Don't be greedy lah...already have Sports Toto which is already generating a revenue of about RM3.7 billion ringgit and a gross profit of  about 900 million as at 2009 reported accounting of Berjaya Sports Toto BHd.

Maybe this time give the license to the Bloggers and we will donate all the profits to the Rakyat and the many under privileged Malaysians and there will no longer be any poor people in this country and we will have free university education to all those who wnats an education. *Just daydreaming lah.. can or not?

Read "Public Outcry" from Melissa Goh of Channel News Asia HERE

Wicked

To See and Listen to the Wicked

is already

the Beginning of Wickedness

-Confucius-

Dictionary Description: Evil or morally bad in principle or practice; sinful; iniquitous: wicked people; wicked habits.

Evil by nature and in practice: "this wicked man.., the repository and embodiment of many forms of soul-destroying hatred" (Winston S. Churchill).

Malaysia Borrowing Money For Fun...

Malaysian so called sovereign funds has been borrowing lots of money through the issuing of islamic bonds.

The correct definition should be "Sovereign Borrowed Funds" as their funds are all borrowed and unlike other real sovereign funds who invest with their real savings and profits.

Another report from Bloomberg states that Malaysia’s state investment agency may raise as much as S$500 million (USD$353 million) selling Singapore dollar-denominated Islamic bonds to help fund its offer to double its stake in hospital operator Parkway Holdings Ltd., according to two people familiar with the plan. The sale may take place as soon as this month, according to one of them, who declined to be identified because the discussions are private.

Singapore dollar of S$500 million is equivalent to about RM1.2 billion. Aiyah.. No money don't invest lah what for need to borrow to invest?

And another government agency will be borrowing up to 10 billion Ringgit.

The Malaysian national mortgage company CAGAMAS plans to sell as much as 10 billion ringgit ($3.1 billion) of a new type of Islamic bond that would be acceptable to investors in the Middle East, said Chief Executive Officer Steven Choy. Cagamas is developing the new sukuk with Saudi’s Al-Rajhi Bank, which will subscribe to some of the notes to be issued this month, he said.

And Petronas is raising USD2 billion through an IPO of its Petrochemical subsidiaries. Read HERE.

Malaysia government alone last year borrowed through bonds issue of a total of about 90 billion Ringgit.

And early last month Najib announced that the Malaysia government will likely be issuing US dollar denominated bonds and this is what he said:

Malaysian Prime Minister Najib Razak said yesterday that Malaysia will likely tap global bond markets by offering a US dollar Islamic bond to test investor appetite for its assets.

"Most probably it will be in US dollars. There will be sukuk issues. However the amount will be announced later," Najib said at a dinner hosted by the Singapore Foreign Correspondents Association.

Najib said Malaysia did not "actually need" the money, but "it is good for Malaysia" to find a benchmark on how the markets rate its creditworthiness. Read HERE.

Well at least its good to know that we are just borrowing money for fun as we actually don't need it. That's a relief.

Bloomberg HERE

Malaysia's Foreign Reserves Fell to USD 95.5 Billion!

Malaysia’s reserves fell to 312.21 billion ringgit, equivalent to $95.5 billion, as of May 31, from 313.92 billion at the end of April 2010.

In Malaysia, capital outflows from the equity market outpaced increased flows into the debt market in May 2010.

“Foreign investors continued to liquidate their portfolio holdings on heightened risk aversion arising from worries that the European debt problems could halt the global recovery,” Lee Heng Guie, chief economist at CIMB Investment Bank in Kuala Lumpur, said in a note today on the Malaysian reserves.

As reported by Bloomberg HERE>

Where's My License???

Who Took My License? Give it back now before i get angry!

Give it back to me now and i give you free membership card...

I am looking for it...

The Great Firewall of China

You can check whether any website has been censored in China through The Great Firewall of China website HERE.

CHINA will not ease state control over what can be said online and will brook no foreign criticism of its rules, according to a government white paper released on Tuesday after months of wrangling about freedoms for Web users.


A very public spat with Internet giant Google Inc earlier this year led to the company shutting down its main Chinese search engine and added to tensions with Washington, already strained over US arms sales to Taiwan and other issues.

China has the world's largest number of Internet users and while the market has boomed as Chinese take to the Web to blog, read news or trade goods, Beijing has kept a tight grip over sensitive content on subjects like politics and ethnic unrest.

Read More HERE