| FELDA Ada Potensi Besar Jatuh Bangkrap, Pinjam Wang KWSP RM6 Billion Posted: 16 Jun 2011 01:41 AM PDT Felda hari ini mengaku membuat pinjaman RM6 bilion daripada Kumpulan Wang Simpanan Pekerja namun menegaskan agensi itu tidak bermasalah membayar semula pinjaman itu. Timbalan Menteri Di Jabatan Perdana Menteri Ahmad Maslan memberitahu Parlimen, Felda mencatat keuntungan RM1.197 bilion tahun lalu dan dan nilai keseluruhan syarikat itu adalah RM19.18 bilion.
Bagaimanapun Ahmad Maslan tidak dapat memberi penjelasan kenapa, Felda perlu membuat pinjaman RM6bilion jika kedudukan kewangannya kukuh.
Ketua Pembangkang Datuk Seri Anwar Ibrahim meminta kerajaan Umno-BN menyatakan sama ada RM6 bilion itu digunakan oleh anak syarikat Felda, Felda Global Ventures untuk melabur dalam syarikat milik asing.
Pelaburan itu, menurut Anwar, menyebabkan Felda menanggung kerugian berkumpul RM500 juta dari tahun 1997 hingga tahun lalu.
Malah katanya hal ini mengakibatkan timbul pelbagai persoalan mengenai kelemahan dalam pengurusan dana Felda dan apakah pinjaman yang dibuat bertujuan untuk menampung kerugian agensi terbabit.
"Siapa yang beri kebenaran? Adakah Menteri Kewangan dirujuk dan apa jadi dengan pemimpin-pemimpin korporat yang terlibat dalam kes ini?
"Kalau anda terus bergolak dengan undang-undang dan secara berterusan membuat keputusan bertanggungjawab, Felda akan diterima.
"Dan saya persoalkan keputusan untuk mengambil kerja konsultant. Tidak ada rekod dari segi pengalaman atau kepakaran dalam pelaburan dan teknologi urus niaga perindustrian," ujar beliau.
Ahmad sebelum ini gagal untuk memberikan jawapan kepada Anwar kerana tidak mempunyai maklumat penuh mengenainya.
Pinjaman RM6 bilion oleh Felda itu didedahkan oleh Pengerusi Anak Peneroka Felda Kebangsaan (Anak) Mazlan Aliman pada bulan lalu, namun ia tidak disahkan oleh Felda sehingga kenyataan Ahmad hari ini.
Tahun lalu, Ahmad mengaku, juga di Parlimen, bahawa rizab Felda susut daripada lebih RM4 bilion pada tahun 2004 kepada RM1.35 bilion tahun 2009.
Peneroka Felda dilihat sebagai "simpanan tetap" Umno ketika pilihanraya dan sebarang kritikan terhadap pengurusan Felda sering mengundang tindakan padah daripada pemerintah.
Tahun lalu, lidah rasmi Parti Keadilan Rakyat, Suara Keadilan diharamkan dan disaman kerana mendakwa Felda mungkin bangkrap jika terus menanggung kerugian akibat pemborosan dan pelaburan yang tersasar.
Sementara itu, Anwar turut menyangkal keterangan Ahmad kononnya Felda mencatatkan keuntungan tinggi, sebaliknya ujar beliau, agensi itu mampu memperoleh keuntungan berlipat ganda sekiranya pengurusan lebih telus. READ MORE HERE |
| Artikel Hasan Ali - Wartawan Utusan buat Laporan Polis terhadap DAP Posted: 16 Jun 2011 01:36 AM PDT 
(Utusan Malaysia) - Wartawan Utusan Malaysia dari Biro Selangor, Abdul Yazid Alias, 31, hari ini membuat laporan polis bagi menafikan dakwaan Ahli Dewan Undangan Negeri (ADUN) Sekinchan, Ng Suee Lim bahawa dia menulis berita yang direka-reka berhubung ulasan wakil rakyat DAP itu tentang pengguguran Datuk Dr. Hassan Mohamed Ali sebagai Pesuruhjaya Pas Selangor. Abdul Yazid membuat laporan itu di Ibu Pejabat Polis Daerah (IPD) Shah Alam di Seksyen 9 pada pukul 3.30 petang dan keluar dari balai tersebut pada pukul kira-kira 5 petang.
Abdul Yazid berkata, laporan tersebut dibuat adalah menafikan dakwaan wakil rakyat tersebut bahawa tiada wartawan Utusan Malaysia menemui atau menghubunginya bagi mendapatkan bahan berita yang tersiar pada Selasa lalu bertajuk `Pengguguran Hasan disambut baik DAP'.
"Saya sememangnya kebetulan menemui Suee Lim pada 13 Jun lalu di sebuah kedai runcit di Seksyen 9 yang berdekatan dengan pejabat Utusan Malaysia di sini dan sebagai wartawan saya mengambil inisiatif bertanyakan pandangannya sebagai wakil rakyat DAP mengenai pengguguran Hasan sebagai Pesuruhjaya Pas negeri.
"Saya sudah lama mengenali wakil rakyat itu dan kami saling mengenali malah saya sendiri sebelum ini pernah menemuinya dan menghubunginya sebagai wartawan Utusan Malaysia,'' katanya di sini hari ini.
Laporan polis berkenaan dibuat ekoran kenyataan Suee Lim seperti yang dilaporkan oleh portal berita, Malaysiakini.com hari ini bertajuk, `Berita Palsu: ADUN Sekinchan buat laporan polis'. |
| Umno Youth to gather on July 9, rival Bersih rally Posted: 16 Jun 2011 01:21 AM PDT 
(The Malaysian Insider) - Umno Youth will organise a gathering on July 9 to " strengthen the democratic system" and rival electoral reform group Bersih 2.0's rally on the same day. Its chief Khairy Jamaluddin said it won't join the Bersih rally, which is also facing a counter-protest by Malay rights group Perkasa. "Umno Youth will organise a gathering on July 9 to strengthen the democratic system. Won't join Bersih because they have opposition agenda," the Rembau MP wrote in his Twitter microblogging account. He had earlier chaired an Umno Youth council meeting today. Police have said it won't issue permits for any rally in the city on that day, when a rock concert featuring Sweet Charity and Blues Gang will be held later that night. |
| Hearing of RMAF Sergeant Tharmendran's case postponed to July 22 Posted: 16 Jun 2011 01:17 AM PDT 
(Bernama) - The hearing of the case involving Royal Malaysian Air Force (RMAF) Sergeant N. Tharmendran and businessman K. Rajandran Prasad on charges of conspiring to steal and disposing off two RMAF jet engines has been postponed to July 22 due to the appointment of a new counsel. Sessions Court judge Aslam Zainuddin set the date after lawyer V. Ravichandran informed the court that he was the new counsel appointed by Tharmendran, 43, and that he needed time to study the documents on the case. Ravichandran told the court that the previous counsel N. Surendran, had yet to handover the documents on the case to him. "I was informed by Surendran that he would give me all the documents the latest by next week," he added. The case was postponed to today after Tharmendran informed the court two days ago that his lawyer (Surendran) was withdrawing from the case. Meanwhile, at today's proceeding, lawyer Gobind Singh Deo , who represented Rajandran, 38, claimed that the charge against his client was flawed because the time when the alleged offence was committed was not clearly stated on the charge sheet. However, deputy public prosecutor Feisal Syed Amir said the point raised by the defence was not an important issue. Aslam said the matter would be raised should there be any witness who mentioned the time when the alleged incident took place. On Jan 6 last year, Tharmendran pleaded not guilty to conspiring with airman Mohamad Shukri Mohamad Yusop to stealing two J85-21 model of F5 jet engines from the Material Processing Shed MATRA 1, Sungai Besi RMAF base, here, on April 30, 2008. He was charged under Section 380 of the Penal Code which is punishable with imprisonment for up to 10 years and a fine upon conviction. Rajandran Prasad, the director of a supply company, also pleaded not guilty on the same date to the charge of intentionally disposing off the engines at 49, Jalan TS 6/6, Taman Industri Subang on April 30, 2008. Rajandran was charged under Section 414 of the Penal Code which is punishable with a jail term of up to seven years and a fine upon conviction. On Aug 20 last year, Tharmendran also pleaded not guilty to a charge of laundering a sum of RM62,000 while Rajandran pleaded not guilty to five such charges involving RM437,319.50. |
| Controversial DJ claims living in exile in UK Posted: 16 Jun 2011 01:07 AM PDT  (Borneo Post) - Controversial figure Peter John Jaban who used the pseudonym 'DJ Papa Orang Utan' over Radio Free Sarawak (RFS) has claimed that he is living in political exile in the UK. He said he did not dare to come back home to Sarawak because of what the Home Ministry had stated recently – that he was a potential subject under the Internal Security Act. When contacted yesterday, Peter said he was making a living as a deejay for RFS and that he reported to another controversial figure – Clare Rewcastle – who runs RFS and Sarawak Report blog. Rewcastle is the sister in-law of former British prime minister Gordon Brown. Peter said he also feared reprisal judging from the threats he received through SMS, emails and Facebook. He also rubbished talks that he was a 'radio mercenary' earning 6,000 pounds per month. He said he did what he was doing on his own free will, and not for the material gain. He also said that he was not affiliated to any political party in Malaysia, but said that there were good and bad people in both Pakatan Rakyat (BN) and Barisan Nasional (BN). He said he would not like to 'attack' the good ones in either PR or BN. 
"If you care to observe carefully, I have never attacked the good people in either block," he said without elaborating what he meant by attacking people. He also dismissed claims that RFS was all out to run down the state government. Peter said he was also a member of another controversial group – the Raja Petra Kamaruddin-led Malaysian Civil Liberties Movement based in London whose members have declared themselves as a third force. As a social activist, he participated in several peaceful protests in London. "I would like to advise Malaysians to follow our style. Protest in peace, do not burn cars, shops, homes or government properties. Treat it as a picnic, bring along your guitars and sing along," he said. He also advised politicians not to use religious issues for political gain because the consequences would always be bad. "Sarawak is a multi racial state. The people live in racial harmony despite the many colours," he said when urging Sarawakians not to use religion to divide themselves. 
Should people want to communicate with him they can do so through Facebook under the account of Papa Orang Utan Peter. Peter was formerly attached to the Land and Survey Department and was a Cats Radio deejay In February this year, Chief Political Secretary to Chief Minister Abdul Karim Rahman Hamzah said RFS was all out to run down the state government but admitted there was nothing they could do to stop them from telling lies. Karim, who is Asajaya assemblyman, also urged the police, Home Ministry and MCMC to take action against RFS if it breached the law or commit slander. "The best way to counter the radio now is to educate the public by telling them not to listen to RFS programmes and be critical when analysing their news. "There is nothing we can do to stop them (from spreading slander and lies). We just have to educate the public on what is true and what is real. On the other hand, if we do not stop them they will go all out to run down the government," he said. |
| WIKILEAKS: US concerns regarding Malaysian companies suspected of illegal transshipment activities Posted: 16 Jun 2011 01:00 AM PDT 
Following up on PM PDAS Countryman's January 14 meeting with the Malaysian Ambassador to Washington about the missing F-5 engines case (ref E), DCM reiterated to Zainol the seriousness with which we view this issue and that we look forward to a full report/accounting by the GOM. This was necessary to ensure the US has the "fullest confidence" in Malaysia's ability to handle and account for sensitive defense equipment. THE CORRIDORS OF POWER Raja Petra Kamarudin 
S E C R E T SECTION 01 OF 03 KUALA LUMPUR 000049 SIPDIS FOR EAP/MTS, ISN, PM AND INR E.O. 12958: DECL: 01/20/2030 TAGS: PREL, KNNP, PARM, IAEA, MNUC, PGOV, IR, MY SUBJECT: MALAYSIA: MFA VIEWS ON NON-PRO, IAEA, AND EXPORT CONTROL LAW REF: A. 09 STATE 126209 -- U.S. APPROACH TO NPT CONFERENCE B. 09 STATE 128736 -- NEXT STEPS WITH MALAYSIAN ON PROLIFERATION C. 09 KL 917 -- EINHORN MEETINGS IN KUALA LUMPUR D. 09 KL 977 -- GOM STATEMENT ON IAEA VOTE E. STATE 5003 -- PM A/S MEETING WITH MALAYSIAN AMBASSADOR Classified By: Political Counselor Brian D. McFeeters for reasons 1.4 b and d. Summary 1. (S) The DCM met with MFA Deputy Secretary General Zainol Abidin Omar on January 15 to convey Ref A talking points and to discuss a range of other counter-proliferation and export control-related issues (refs A and B). Referencing special information that was provided to the GOM in early-November by S/SANAC Einhorn, Zainol said that the GOM was still looking into Malaysian companies suspected of illegal transshipment activities involving Iran, but otherwise no concrete actions had been taken. DCM urged the GOM to "redouble" its efforts in this area. Zainol advised that his government was still deliberating internally the disposition of dual-use components and equipment that were seized by Malaysian authorities on December 25 from a Middle East-bound vessel. Regarding a new Export Control law, Zainol said that it was now under near-final review at the Attorney General's office, but he offered no timeline on when the bill might be presented to parliament. On the fate of their Ambassador (Arshad) to the IAEA, Zainol indicated that naming of a successor was a sensitive issue and that it may take several weeks (or longer) for a final decision. Zainol did state that, in the interim, Arshad was still Chairman of the IAEA Board of Governors. DCM encouraged the GOM to move quickly on a replacement to clear up the "confusion" at the IAEA on Arshad's status. Zainol welcomed the Jan 28 visit by ISN acting Assistant Secretary Van Diepen and delegation. He confirmed that the GOM would participate in EXBS-sponsored training in March and expressed interest in sending officials for additional export control-related training at the University of Georgia in April. DCM briefly raised the missing F-5 engines case. End Summary. 2. (C) DCM Rapson and Poloff Nathan met with Ambassador Zainol Abidin Omar, the Deputy Secretary General in charge of multilateral affairs at MFA on January 15. (Note: Zainol is the no. 5 ranking officer in the MFA after the Foreign Minister, two Deputy Ministers and the Secretary General. End Note). Also in attendance from the MFA were Under Secretary for non-proliferation Bala Chandra Tharman, Principal Assistant Secretary for non-proliferation Shazryll Zahiran, and Principal Assistant Secretary for United States affairs Muhammad Radzi bin Jamaluddin. The discussion was cordial and went for an hour-plus. 3. (S) The DCM recalled Special Advisor for Non-Proliferation Einhorn's November 4 meeting with MFA Secretary General Rastam (ref C), during which Einhorn provided the MFA a special list of companies of concern that were engaging in transshipment activities with Iran, and asked for a status update on any GOM decisions or actions with respect to the listed companies. Zainol replied "We have requested security agencies to initiate their investigations," but added that, thus far, "the investigation has not been able to unearth any activities that are in contravention to UN resolutions." The DCM emphasized that the U.S. has "strong concerns" about the companies listed and their activities, and urged the GOM to "redouble" its efforts in this area. Zainol acknowledged this request and said the GOM would "welcome any additional information on those companies." He noted that the Foreign Ministry has the inter-agency lead on non-proliferation issues, and that bilateral requests for cooperation and assistance on these types of issues should be "funneled through the MFA." Update on the Christmas Day Seizure 4. (S) DCM thanked and briefly queried about the status of the shipment of dual-usage parts and equipment seized by the GOM from a middle east-bound vessel over the Christmas day holiday. Zainol replied that all the information they can share has been separately channeled to the relevant U.S. agencies. Zainol did note that they (the GOM) are still conducting their internal investigation on whether or not the equipment and parts seized were of dual-use concern as the USG is alleging. (Comment: Zainol declined to offer any info on current disposition of the seized shipment, although his comments clearly implied that the consignment was still under GOM control. Moreover, he provided no indication that the GOM would be reaching out to the UN Security Council for guidance on evaluation and analysis and handling of the seized shipment as had been indicated to us through liaison channels. End comment.) Export Control Law in Final Stages, but... 5. (C) Zainol confirmed that the GOM "is in the final stages" of drafting the export control law bill, and said that the draft is currently with the Attorney General's office. Zainol did not want to speculate when the AG's office would finish its review and when the bill would be presented to parliament, given, he said, that there are a range of other "urgent" issues on the PM, AG's, and Parliament's plate such as review and revision of the controversial Internal Security Act (ISA). Zainol opined that the process could "take some time" as the AG's office needs to consider how an export control law would tie into and affect existing laws. Zainol concluded by noting that once the proposed bill was finalized, it "would be introduced to parliament at the appropriate time." DCM thanked Zainol for this update and recalled the high priority both the PM and Foreign Minister placed late last year on early passage of the export control law. He noted that the USG stands ready to assist the GOM, including through the provision of training and technical assistance (see para 8, below). Van Diepen Delegation Visit 6. (SBU) The DCM previewed the January 28th visit of ISN acting Assistant Secretary Van Diepen and delegation, thanking Zainol for agreeing to meet with the A/S and for assembling an interagency team on the Malaysian side for that meeting at MFA. The DCM confirmed that we are also seeking separate appointments for the delegation at MITI, the Attorney General's offices and the PM's office. Zainol said he look forward to the discussions with A/S Van Diepen and welcomed further engagement with the U.S. on non-proliferation and export control issues. IAEA and the Status of Ambassador Arshad 7. (C) The DCM asked Zainol for clarification on the status of Malaysia's Ambassador to the IAEA (and co-current Chairman of the IAEA Board of Governors) Arshad (Ref D), noting that there have been some confusing signals of late emanating from various sources about his recall and the naming of a successor. Zainol was coy on providing a direct answer, and would only say that "at the moment, we are unable to say anything," other than that he (Arshad) "is still chair of the IAEA Board of Governors" until a new Ambassador is identified. Zainol explained that there is a delay because "the nomination of a new ambassador is very sensitive," adding that "the process takes a few weeks." The DCM recalled the Foreign Minister's public comments on this subject last month and recent senior level communications we have received from the GOM. Training and Enhancing Engagement 8. (SBU) Zainol welcomed increased interaction and engagement between the USG and GOM on the non-proliferation front. He confirmed that the GOM planned to participate in an EXBS-sponsored non-proliferation workshop in March 2010, and was interested in sending two candidates to the University of Georgia within the next few months for more specialized and extensive export control-related training. Zainol commented that the MFA has been preparing for the Nuclear Security Summit in Washington this April, which PM Najib will attend. DCM Rapson noted USG interest in having Malaysia's Attorney General visit Washington for discussions on a range of bilateral issues, including the export control law. Missing F-5 Engines 9. (C) Following up on PM PDAS Countryman's January 14 meeting with the Malaysian Ambassador to Washington about the missing F-5 engines case (ref E), DCM reiterated to Zainol the seriousness with which we view this issue and that we look forward to a full report/accounting by the GOM. This was necessary to ensure the US has the "fullest confidence" in Malaysia's ability to handle and account for sensitive defense equipment. Zainol replied that "we are seriously concerned" and that the GOM "fully understands that this is an obligation we have to undertake," but also added that "my department is only concerned with nuclear non-proliferation" and that "we (MFA) are not the lead on the issue." When asked about those arrested for their alleged involvement with the F-5 engines, Zainol replied that the issue "is now before the court, so it's difficult to offer any further comment." KEITH |
| How it all began Posted: 15 Jun 2011 07:30 PM PDT 
Is demonstrating part of Malay culture? Umno says no. Maybe it used to be no 500 years ago. But it became Malay culture back in 1946 when they opposed the Malay Union. And if not because of this demonstration there would not be an Umno around today. Umno was born against the backdrop of the 1946 demonstration. So a demonstration is the father of Umno.
NO HOLDS BARREDRaja Petra Kamarudin SCENE ONE: British Malaya. Kampong Baharu, Kuala Lumpur. 1946.Said: Assalamuailakum!
Rahman: Mualaikumsalam. Ah, Said, what brings you here? Come in.
Said: Ay Rahman, are you going to the demonstration tomorrow?
Rahman: Demonstration? What demonstration?
Said: We are getting together to demonstrate against the government. We are going to oppose the plan to set up the Malayan Union.
Rahman: But I thought the Malayan Union is a fait accompli. Haven't the Rulers already endorsed it?
Said: Yes, but the Rulers were tricked by Sir Harold MacMichael. They did not know that the setting up of the Malayan Union will not only erode the powers of the Rulers but that of the Rakyat as well. So we are going to oppose it.
Rahman: But won't that mean we shall also be demonstrating against the Rulers?
Said: No, we shall in fact be defending the powers of the Rulers. We are not trying to accuse the Rulers of selling out the Rakyat. We are taking the position that MacMichael tricked the Rulers. So the Rulers are as much victims as the Rakyat. Raja Uda, Datuk Panglima Gantang, Nik Kamil and Datuk Kamaruddin have already spoken to the Rulers and Their Highnesses have sanctioned the demonstration. The Istana is also sending representatives to join the demonstration. The Rulers are with us, Rahman. Rahman: I'm not sure, Said. Demonstrating is not our Malay culture. And I am wary about opposing the government.
Said: Alamak, Rahman, we can no longer be feudalistic. All over the world the people are opposing their governments. Our neighbours Indonesia and the Philippines have already gained independence. India is soon going to be independent. And they are gaining independence because the Rakyat dared oppose the government. Malaya will never gain independence unless we dare oppose the government.
Rahman: But still, Said, demonstrations are a show of defiance and dissent. We Malays are not like that. Malays are a tolerant and subservient race. We never oppose the powers-that-be even if they are evil and unjust. That is not what Hang Tuah taught us.
Said: Rahman, Hang Tuah is outdated. That is something that is 500 years old. Today Malays must be like Hang Jebat.
Rahman: I am shocked that you say this, Said. Are you saying that Hang Jebat is the hero and not Hang Tuah?
Said: Exactly! Look, Rahman, tomorrow is going to be the beginning of the New Malay, the Melayu Baharu. Don't you want to be a part of history? We are going to see history being made tomorrow. Do you want to just be a spectator and watch history being made rather than be a participant in the making of history?
Rahman: Said, I work for the government. You sell nasi lemak. You have nothing to worry about. I have to think of my job and my family.
Said: If we all just think of ourselves and not of the nation when is Malaya ever going to see self-rule? We all need to make sacrifices. I sell nasi lemak because I refuse to work for the government. I don't recognise this government so how can I work for it? I choose to sell nasi lemak although I can take the easy way out and work for the government like you.
Rahman: You are different Said.
Said: What is so different between you and me? I also have a family to feed just like you. But I refuse to collaborate with the government. If I work for the government that means I agree with what the government is doing. I will never work for the government unless we first see a change of government. I would rather suffer and earn pittance by selling nasi lemak than live a comfortable life on a salary earned from a government I am opposed to.
Rahman: (sighs)…You are always the dissident, Said.
Said: That is because I am a Muslim, Rahman. But I follow the true principles of Islam. In Islam if we collaborate with evil then we are also evil. We must oppose evil, Rahman. That is what Islam asks us to do. If you are a true Muslim at least join us for the demonstration tomorrow. Maybe you are not yet ready to resign from your government post. Never mind. But at least oppose the government by joining us tomorrow. Be a true Muslim.
Rahman: Okaylah Said. You have convinced me. I will be there. And let whatever happens happen. If I get sacked from my post I will accept that as God's will.
Said: Rahman, you will not regret it. Tomorrow is the beginning of Malay Nationalism. After this we need to talk to the Chinese and Indians to ask them to join us in the fight for Merdeka. We can't do it on our own. We need the support of the Chinese and Indians as well. That has to come. SCENE TWO: British Malaya. In front of the Majestic Hotel, Kuala Lumpur. 1946.
AND AS A DIGRESSION: TO REMIND YOU HOW IT ALL BEGAN IN AMERICACRNciryImqg
SEE VIDEO ON YOUTUBE HERE: http://www.youtube.com/watch?v=CRNciryImqg
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| Government firm on Sarbaini inquest Posted: 15 Jun 2011 05:47 PM PDT 
(The Malaysian Insider) - The government has insisted an inquest must be held for the late Ahmad Sarbani Mohamed, despite growing clamour for a royal commission of inquiry (RCI) to investigate his death. Deputy Minister in the Prime Minister's department Datuk V.K Liew told Parliament that an inquiry was the first choice, and that there was a "procedure" which needed to be followed. "As a procedure of law, an inquest needs to be done first, after that only an inquiry (RCI)," he said today. In response, DAP's Lim Kit Siang reiterated that the government should override the decision by the police and Attorney-General to hold an inquest for the late Customs officer. "There have been precedents in the United Kingdom where an RCI can be held even though a decision has been made on an inquest," the Ipoh Timur MP told reporters at a news conference. The inquest, to be presided over by Coroner Aizatul Akmal Maharani, was set for July 4 to 15 at the magistrate's court. Yesterday, Lim said that the Cabinet should heed the call made by the late Custom officer's son, Shahril Ahmad, that the family preferred a royal commission of inquiry (RCI). Shahril earlier said it would be harder to determine the cause of Sarbaini's death through an inquest and that this would delay the pursuance of justice. Sarbaini, 56, was found dead on the badminton court of the MACC building at Jalan Cochrane around 10.20am on April 6, barely two hours after walking in. His death occurred when Teoh's RCI was still ongoing and delivered a huge blow to the anti-graft body's already-battered credibility. Prior to this, Sarbaini's family had also called on the police to explore the latest allegations made by blogger Raja Petra Kamarudin before calling for an inquest. Raja Petra, in a post on his Malaysia Today website on Monday, claimed the police had conducted a thorough check on Sarbaini's assets and found no unusual or extraordinary wealth. Raja Petra also accused MACC of trying to tarnish Sarbaini's name following his death. |
| Ahmad Maslan: Felda Will Be Bankrupt in the Hands of the Opposition Posted: 15 Jun 2011 05:09 PM PDT (Malaysian Digest) - Deputy in the Prime Minister Department Datuk Ahmad Maslan today said under the administration of the opposition, not only Felda will be bankrupt, but the country also will be ruined. He said, in terms of justice, the opposition's 'Buku Jingga' campaign that promises to give each the second and third generation of Felda settlers land is not fair at all.
According to Ahmad Maslan, the amount of land owned by Felda is 341 thousand hectares, while the number of second and third generation of Felda is about 1.6 million which means each of them will only get one acre of land.
"From 341 thousands hectares of land owned by Felda, it means that every second and third generation of Felda settlers only gets an acre of land. Besides that, there is no guarantee that they will not sell the land given to them," said Ahmad Maslan in a press conference held in Parliament this morning.
"And I would like to emphasize here that one third of the land that was to be given to the second and third generations is located in Sabah. Can you imagine the feelings of the Sabah people if the land is given to the people of the peninsula?" he added.
According to Ahmad Maslan who is also the Pontian MP, the income from the land contributes to RM1.6 billion profit of Felda and if given to the second and third generation of Felda settlers, Felda would become bankrupt.
"All Felda income comes from the land. If given to them, Felda could not generate income anymore and will become bankrupt," said Ahmad Maslan.
"Besides that, currently Felda has 23 thousand employees and 60 thousand plantation workers. Do we want to stop all these workers?" asked Ahmad Maslan.
He said the suggestion by the opposition is not logical at all. |
| Anwar: "Umno Leaders Planned the Sex Video Scandal" Posted: 15 Jun 2011 05:07 PM PDT (Malaysian Digest) - The opposition leader Datuk Seri Anwar Ibrahim today maintained his allegation that the sex video scandal involving him was planned by the top leadership of Umno. According to the Permatang Pauh MP, the action of the authorities to provide protection to the Datuk T trio (Shazryl Eskay, Rahim Tamby Chik and Shuib Lazim) is enough to show that his allegation is true.
"Police still give protection (to Datuk T). This is the only country in the world where sex video distributed throughout the country and police do not know what action to be taken," said Anwar in a press conference today.
"That is why I maintain that there are instructions from the Umno top leadership. Datuk T is only the tool. The person who actually responsible in planning it is the Umno leaders," he added.
According to the PKR de Facto leader, police report was made and he is still waiting for the action from the police.
He also questioned the credibility of the police that took so long to take action against the individuals who is responsible for spreading the video.
"If the opposition is distributing the video, of course, the police will take immediate action. But because they have link with Umno leaders, they are free from any action," said Anwar. |
| Yen Yen to face Cabinet over Facebook debacle, says DPM Posted: 15 Jun 2011 05:00 PM PDT (The Malaysian Insider) - Deputy Prime Minister Tan Sri Muhyiddin Yassin said today that Cabinet would seek an explanation from Datuk Seri Dr Ng Yen Yen over the tourism ministry's RM1.8 million expenditure to develop six Facebook pages. Muhyiddin said that if the tourism minister's explanation was not satisfactory, the government might investigate the matter. "I think the Cabinet will ask for a complete report from the (tourism) minister tomorrow and she can explain the basis of the expenditure," he told reporters here today. "The explanation has already been given in Parliament but if people are unsatisfied then we can ask for a detailed (report). We have nothing to hide especially when it involves public expenditure." Yesterday Dr Ng appeared to have contradicted her ministry's detailed account of the cost for each page when she said that the Facebook pages were free. Her deputy, James Dawos Mamit, had told Parliament that each Facebook page had cost RM293,072. Dr Ng said the RM1.8 million would cover the cost of six different campaigns over seven months, and included the cost of contests and advertising on Google and Facebook. DAP Youth chief Anthony Loke had said that unless Dr Ng explained the reason behind the "exorbitant" costs for the "social media branding" exercise, he would lodge a report with the Malaysian Anti-Corruption Commission (MACC). READ MORE HERE |
| MCMC shrugs off Operation Malaysia, says ‘little impact’ Posted: 15 Jun 2011 04:57 PM PDT (The Malaysian Insider) - The Malaysian Communications and Multimedia Commission (MCMC) dismissed today the "little impact" caused by attacks on at least 51 government websites, which saw the official portal of the federal administration going down since early this morning. Confirming that 41 of the targeted sites were disrupted, the MCMC said that it does not expect "the overall recovery to these websites to take long as most websites have already recovered from the attack." "We gauge that there has been little impact on Malaysian users as a result of this attack," it said after monitoring the attacks which started at 11.30pm last night. Operation Malaysia, launched by the international hacker group known as Anonymous, succeeded in bringing down its main target, malaysia.gov.my, at about 4am this morning. While website recovered after 11.30am today, the attack announced earlier this week also spawned hacks on other sites, which saw Sabah's tourism website (sabahtourism.com) and the Tour Malaysia travel guide (tourmalaysia.com.my) being defaced. Hackers also claimed that details of more than 3,400 users were extracted from Sabah Tourism and posted the particulars of 392 accounts before the tourism agency regained control of the site. The attacks that began shortly after midnight have affected other government websites including those of the information ministry, the fire and emergency services department, and the land public transport commission. The MCMC added that its own site (skmm.gov.my) was targeted but said the attack was not successful. READ MORE HERE |
| Anwar slams ‘ridiculous’ RM13b funds request Posted: 15 Jun 2011 04:56 PM PDT (The Malaysian Insider) - The federal government's tabling of a RM13,186,713,000 supplementary supply bill for additional spending in the first half of this year was unprecedented and unnecessary, Datuk Seri Anwar Ibrahim said today. The opposition leader then accused the Najib administration of mismanaging the country's finances, which, according to him, resulted in the government's need for such a large additional budget. "This kind of request, I have not seen even when I was finance minister. "It is ridiculous, unprecedented to request for a budge of that amount," he told reporters today. Anwar said Pakatan Rakyat (PR) leaders were currently studying details of the figures, and will bring up their arguments during the second reading of the bill. Out of the RM13 billion spent, the biggest amount was spent by the Treasury (RM6 billion). A total of RM1.5 billion was spent by the Education Ministry while the Health Ministry used up RM1 billion. Parliament was allocated RM11 million while the Attorney-General's Chambers was given the smallest allocation — RM1 million. The supplementary supply bill does not include the Budget 2011 as tabled by Prime Minister Datuk Seri Najib Razak last year, which was RM162,805,323,000. When added up, the government has spent a total of RM175,992,036,000. |
| SUPP facing ‘life and death’ struggle, says ex-chief Posted: 15 Jun 2011 04:51 PM PDT SUPP deputy secretary general Wong Soon Koh believes that asking him to explain why he joined the state Cabinet is an insufficent reason to convene a CC meeting. (Free Malaysia Today) - KUCHING: Sarawak United People's Party (SUPP) is self-immolating and party president George Chan cannot seem to see the urgency in heeding members' call for him to step down. In the face of the deepening infighting among party leaders, former president Woon Soon Kai issued an "urgent" warning to Chan. He said Chan and the current leadership must resign en bloc now in order to pull the party out from its worst crisis. "They must resign en bloc… it's a matter of life and death for the party. "To save the party, they must think what is best for the party instead of fighting among themselves for the top posts. "Chan should fulfil his task and put the party in order before he quits. "They (leadership) must also convene its triennial delegates' conference as soon as possible to elect a new set of leaders," he said, adding that there was no reason for them to hold on to their positions in the party. Following SUPP's dismal perfromance in the April 16 state election and Chan's shocking defeat to a DAP greenhorn in Piasau, he had tendered his resignation. The party's central leadership, however, rejected his resignation and asked him to wait till the end of the year. Wong, who had himself resigned as president after he failed to win the Bukit Assek constituency in the 1996 state election, said Chan must resign immediately in order to save the party. Personal agenda Meanwhile, SUPP deputy secretary-general Wong Soon Koh has accused a "certain leader" of trying to topple him. Soon Koh, who declined to name the individual, said the "leader" considered him to be the "biggest obstacle" to him assuming the leadership of SUPP. "Plainly speaking, that person considers me the biggest obstacle. "He is trying every means to pull me down to achieve his personal agenda," he said in a letter addressed to the leaders of the party. A copy of the letter was made available to a number of reporters. "I believe that the series of events unfolding in the party is a plot by a certain individual to assume the leadership even at the expense of the party's survival," Soon Koh said. Many have speculated the "leader" to be SUPP treasurer-general David Teng. READ MORE HERE |
| ‘Umno cavorting with robbers’ Posted: 15 Jun 2011 04:49 PM PDT Why should Umno claim ownership of possible corrupt practices? Umno stands for cavorting with today's robber barons – the Anandas, the YTLS, The Berjayas, the Genting Lims, all of whom are friends of former Umno president-cum Prime Minsiter Tun Dr Mahathir Mohamad. Mohd Ariff Sabri Aziz, Free Malaysia Today Umno is fast becoming a dirty four-letter word. When someone criticizes the scandalous payments to Independent Power Producers (IPPs), it's considered as attacks on Umno. Umno, admittedly now, supports dubious arrangements to pay the IPPs horrendous prices when the same can be produced cheaper by TNB. Umno stands for cavorting with today's robber barons – the Anandas, the YTLS, The Berjayas, the Genting Lims, all of whom are friends of former Umno president-cum Prime Minsiter Tun Dr Mahathir Mohamad. Mahathir isn't infallible, you know. Why should Umno claim ownership of malpractices or possible corrupt practices? They should disown, not own up. This kind of stupidity will cost Umno dearly in later years. Umno should NOT view attacks on policies and on issues of public concerns as attacks against the Malays or a Malay government. Perkasa doesn't speak for the Malays. It's not the only voice. Ibrahim Ali is no more Malay than I am or I am no less Malay than Ibrahim Ali. Here is the problem with the IPP issue. People are questioning why the government finds it easy to withdraw subsidies from ordinary people and not IPPs. This double standard raises concerns that the government is protecting the IPPs, which incidentally were created during Dr Mahathir's watch.
Robber barons People can argue, IPPS get subsidies so that they can charge the public lower otherwise we will have to pay higher rates. But the real questions are: why are the IPPs being given preferential treat? Why are they being protected from price fluctuations? And why did Tenaga Nasional Berhad and the government agree to the price and the "take or pay" conditions. The robber barons are holding the government at ransom and Mahathir agreed to be squeezed by the balls. Isn't Tenaga capable of generating electricity at a much lower cost than the IPP's (economy of scale, lower cost of capital, etc) I read somewhere that some think-tankers say that subsidies cause IPPS to be inefficient. But I think otherwise. It is Tenaga which has become inefficient. The IPPs cause Tenaga to operate at sub-optimal level. READ MORE HERE |
| Sudan’s Bashir cancels visit Posted: 15 Jun 2011 02:11 PM PDT The Sudanese president has other 'pressing engagements', says Anifah Aman. 
(FMT) KUALA LUMPUR: Sudanese President Omar al-Bashir, who is wanted for war crimes, will no longer attend a weekend summit in Malaysia, said authorities who had been under pressure to cancel the visit. Bashir has "pressing engagements" and will not make it to the economic conference of African and Asian leaders starting on Sunday in Putrajaya, Foreign Minister Anifah Aman said. Anifah told state television late yesterday that Bashir, who is wanted by the International Criminal Court (ICC), would send Sudan's foreign minister to attend the gathering instead. Human rights groups had urged Malaysia to withdraw its invitation to Bashir, saying that although it is not a signatory to the ICC, it should arrest Bashir for genocide if he travelled to the Southeast Asian country. Malaysia on the weekend confirmed that Bashir and Zimbabwean President Robert Mugabe would be among several African leaders participating in the three-day forum held in the administrative capital Putrajaya. But Anifah said: "The latest information which I got before I came here was that the Sudanese president will not be able to make it because he has other pressing engagements." Deputy foreign minister Kohilan Pillay confirmed the comments today. "Yes, it is confirmed. He is not coming," he told AFP. "He will send his representative." Mugabe is still expected to attend the conference, Kohilan said. Read more at: http://www.freemalaysiatoday.com/2011/06/16/sudans-bashir-cancels-visit/ |
| BN MPs: Our welfare state better than PAS’s Posted: 15 Jun 2011 02:07 PM PDT (TMI) Barisan Nasional (BN) MPs have agreed with the country's top two leaders that Malaysia is already run as a welfare state, but insisted their version of the concept was superior to PAS's. BN's welfare state, they said, was to empower the poor through granting them opportunities while PAS's, on the other hand, was more aimed at spoon-feeding the needy for life. However, the MPs also agreed that in their rush to divert the public's attention from its original Islamic state struggle to the welfare state, PAS leaders had failed to define the party's "reinvented" version of the concept. "It really depends on how PAS and DAP or Pakatan Rakyat (PR) view this welfare state concept. To me, the welfare state has always been BN's charter," Umno's Tangga Batu MP Datuk Idris Harun told The Malaysian Insider in Parliament lobby today.  Nazri said BN's welfare model was one of empowerment. — file pic "To us, welfare is about how we improve on society to form a better future. BN's position is about turning those who are always on the receiving end (of welfare aid) to becoming those who are now on the giving end... we are creating contributors," he added. PAS, he said, was attempting to "compartmentalise the minds of the people" and allowing them to think that they can always be "the hand that takes". Padang Rengas MP and Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Aziz agreed with his Umno colleague, saying that BN believes in empowering the poor to help them improve their living conditions. "Yes, there are handouts but there are opportunities to help them as well. And what about our high achieving students from rural families? How do they become doctors or engineers... if not because of the welfare state that we practise? We give them loans to study and so on," he said. Read more at: http://www.themalaysianinsider.com/malaysia/article/bn-mps-our-welfare-state-better-than-pass/ |
| Economic Development Reverses Brain Drain Posted: 15 Jun 2011 01:43 PM PDT The market for talent is truly global; there is no place for nostalgia, insularity, or misguided notions of nationalism. By M. Bakri Musa A recent World Bank Report concludes that Malaysia risks jeopardizing its economic development if it does not ameliorate its "brain drain" problem. The Bank singles out the country's affirmative action program as a major contributor to the problem. Brain drain, as the Bank rightly acknowledges, is a universal problem. For the Bank to conclude as it did, it must present comparative international data showing that Malaysia's problem is worse off than those without similar affirmative action programs. Alas, this is precisely the glaring deficiency of the report, its lack of comparative data. The Report nonetheless contains a wealth of valuable data. However, as the information sage Edward Tufte observed, nature's laws are causal; they reveal themselves by comparison and difference. This absence of comparisons makes the report's conclusion not credible. The Bank has it backwards. Brain drain does not impact economic development rather the other way around. Have a robust economy and then watch talent – and not just native ones – flocking in. We saw this with Japan of the 1960s, South Korea in the 1980s, and Ireland in the 1990s. Ireland is a particularly pertinent example. Today with its economy sputtering, Ireland is again suffering a brain drain. There is no indication that Malaysia's problem is worse off than that of China, India, or Singapore. On the contrary those countries may suffer even worse, and they do not have any domestic affirmative action program, except for a perfunctory one for India's "untouchables." In California there are more émigrés from Singapore than from Malaysia. Nearly all my college mates in Canada in the 1960s who were from Singapore are now émigrés. Considering the republic's much smaller population, we can infer that it has a bigger brain drain problem. Heck, even its former head of state emigrated! Yet that does not impact its economic development. China suffered through massive "brain drain" for the past few decades; it still does. Yet it continues registering spectacular economic growth. Only now with greater opportunities as a consequence of that growth is China seeing an improvement to its brain drain problem. Despite that, China now has a new problem. According to a China Merchant Bank's report, those Chinese with assets in excess 100 million yuan, a stunning 27 percent have already emigrated while another 47 are considering it. In Malaysia, at least according to the World Bank Report, only the smart Chinese are emigrating; the rich ones stay put. I let readers conclude who really are the smart ones! Snared by the Race Trap The Report's other major disappointment is its less-than-rigorous teasing out the race factor in its analyses. Consequently its authors, like many commentators both native and foreign, get unnecessarily entangled with the nation's sensitive race issue. No surprise then that the report succeeded only in unleashing suppressed chauvinism and resurrecting ugly stereotypes. Consider its findings that the overwhelming majority of emigrants are Chinese and those with tertiary qualifications from or recognized by foreign (specifically Western) institutions. Only those not attuned to the Malaysian scene would miss the redundancy to that statement. To tease out the delicate race factor, you must present data that show Malays with similar qualifications as non-Malays do not emigrate, at least not in comparable proportions. The Bank does not have that data. Anecdotal evidence may indicate otherwise. When I visit American campuses, the one frequent question posed to me by Malay students is: How do I get to stay back? Most Malays are on scholarships and tightly bound to their contracts. Emigration is not an option for at least ten years; that alone would skew the figures, race-wise. The West is a magnet for the talented. Outstanding athletes and artists excepted, talent to the West means those conversant in English and have qualifications issued by its institutions. In Malaysia that means non-Malays. They may hate Malaysia's affirmative action program but that is not enough for them to emigrate to Australia or America; they have to have the needed qualifications. Now if Malaysian Chinese were to emigrate to China and Indians to India, then that would really indicate something rotten in Malaysia. I do not see that happening – as yet. This salient fact indicates that the "pull" of the West far exceeds the "push" out of Malaysia. In China and India however, the "push" factor is overwhelming, reflecting their general economic status and not because of any domestic social policies a la affirmative action. There the prime consideration is to get out; regardless whether you are among the rich, talented or the unskilled, hence the all too frequent tragedies of their poor citizens caught in abandoned rusty trawlers on the beaches of the Pacific and Atlantic. The Bank noted that Malaysia's brain drain is worse only within the last decade, a period that coincides with Malaysia's less-than-robust economic performance. Affirmative action however, has been a fixture for over half a century. If it were to be the reason for emigration, as claimed by the Bank, then we would expect the rate to be constant all these years. There are many good reasons to jettison the current corrupt and ineffective affirmative action program, but hoping that it will solve our brain drain problem is, well, just hope. Surprisingly, the Report's many nuggets of information escape comments both by the report's writers as well as by the mob of commentators. The latter is no surprise as any issue that parallels (or seem to) the racial divide inevitably invites such Pavlovian race-tinged responses. That the report's writers who are experts would fall into the same trap is a surprise. Consider the report's findings that fewer than 10 percent of its respondents (Malaysians who emigrated) spoke our national language. If you were born and raised in Malaysia you have to be literally an idiot or a hermit not to know our national language, as it is widely spoken. Both idiots and hermits have their place, but they are not regarded with esteem in any workplace. Their lack of fluency in Malay reflects their commitment to Malaysia. To them Malaysia is only a staging ground, to prepare themselves for subsequent migration to greener pastures. There is nothing wrong with that; it is only human. The error is in imputing evil motives on those they leave behind and who have kindly provided them their launching pad. They should be grateful, not spiteful to Malaysia. The quota lines (yes, America has quotas too!) for green cards for those from China and India are closer to infinity; not so for those Malaysian-born. Focus on Retaining Talent It is futile to tailor your policies in the hope of attracting people who have long ago decided to emigrate. Instead, the emphasis should be on two areas. One, treat your present personnel so well that they would not even consider leaving. Two, attract talents worldwide without regards to whether they are Malaysians, former Malaysians, or complete foreigners. The market for talent is truly global; there is no place for nostalgia, insularity, or misguided notions of nationalism. Contrary to popular perception, pay is not the only consideration, but a decent one would help smooth out the many other frustrations, including those of affirmative action. Once you treat your current talent well, word will quickly spread out and you will be inundated with enquiries. Stop tinkering with the tax code or hiring expensive foreign consultants to produce yet another thick report that would soon be forgotten. Disband the costly Talent Corporation; it is just another bureaucracy whose budget for foreign travel rivals that of the Foreign Ministry. Divert those funds to compensate the highly talented you have at home. You do not have to match exactly the global pay rates to attract talent. A modest increase in the current pay scale in the range of 30 to 50 percent would go a long way in encouraging Malaysians to stay put. We all know the variables of purchasing power and the cost of as well as standard of living even within a country. If you make US$100K and live in San Francisco you may be lucky to afford a one-bedroom condo. In Wyoming you could live in a "McMansion." For that same pay, in Malaysia you could live in a real mansion, with maids, drivers and gardeners to boot. Salaries in Singapore may be considerably higher but try finding a house with a yard for your children to play. Yes, you can readily afford a car so you can drive around the island in half an afternoon. Focus on attracting talent from wherever; practice meritocracy on a global scale. All things being equal, I would choose talent already in Malaysia. You cannot beat local knowledge and perspective. My next choice will be a complete foreigner; I prefer that over a Malaysian émigré, especially one who cannot speak our national language. My rationale is simple. The one trait I value most in an employee is curiosity, for with it comes the eagerness to learn. The complete foreigner has demonstrated his adventuresome by wanting to work in a foreign country. He considers that a challenge; his learning curve will be steep. He is also enthused about his new assignment. A Malaysian who cannot speak our national language clearly shows his lack of interest in his surroundings. He is not even curious enough to learn a language that is widely spoken. An uncurious worker is rarely an asset. A returning émigré also carries with him his old baggage; he may find it difficult or unwilling to re-adjust. When faced with a problem his only response would be, "Back in old England …. " If he were to be reprimanded by a superior who is other than his own kind, he would more likely dredge up his old prejudices. Malaysia should not have any hang-ups about recruiting talented foreigners. Its priority however, should be on retaining the talents it already has and on producing more. Not too long ago Malaysia commissioned the same World Bank to review our universities on improving their performance. Few could recall that report now. Najib has a penchant for employing legends of foreign consultants. Unlike his predecessor Abdullah, Najib at least reads those reports. However, if you do not have handle on a problem to begin with, calling in the various experts would only confuse you. Consider this World Bank report. Just a month after its release, the Bank published another study, "Eight Questions About Brain Drain," prepared by yet another set of its experts. This second report essentially questions the findings of the earlier one. Dismiss these expensive consultants and divert the money to reward the talents you already have. The executive talent of a leader is inversely related to his penchant for calling in consultants. Meaning, the more inept he is, the more likely he is to call in various experts. Najib reaffirms my conviction. If he is not already befuddled, this latest World Bank Report would do it for him. |
| National debts: the big shadow behind Posted: 15 Jun 2011 01:38 PM PDT When I look at the other side, "Hutang Dalam Negeri Kerajaan Persekutuan" (HDNKP), the domestic debt is much larger than the foreign source debts and it is on increasing trend.By Lee Wee Tak Najib reported a decline in hutang negara/national debts.
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http://thestar.com.my/news/story.asp?file=/2010/6/9/parliament/6429068&sec=parliament
National debt is down
THE national debt has dropped from RM236.18bil in 2008 to RM233.92bil last year, Datuk Seri Najib Tun Razak said.
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Great, wonderful.
So I went to the Finance Ministry to confirm the good news
http://www.treasury.gov.my/pdf/ekonomi/le/1011/jp4_9.pdf
Yes, the numbers reported in the Star is right down there alright.  Ok, there is a 5% drop from RM233,136 million to RM221,741million. This represents Malaysia's borrowings from foreign source, I believe. The reduction is mainly due to huge repayments made in 2009 i.e. RM42,545 million, as compared to RM20,019 million in 2008 (possibly due to windfall petroleum revenue), as well as strengthening RM against USD, which will mean we owe less in RM terms when we borrow in US$.
However, when I look at the other side, "Hutang Dalam Negeri Kerajaan Persekutuan" (HDNKP), the domestic debt is much larger than the foreign source debts and it is on increasing trend.
http://www.treasury.gov.my/pdf/ekonomi/le/1011/jp4_8.pdf
 How come when we had a windfall with raising petroleum revenue in 2009, HDNKP/domestic borrowings increased by 22%? No handbags can cost that much money! The increasing trend shows no sign of decreasing. By June 2010, another 6% is added onto the already hugely increased 2009 base.
Disturbingly, when I look at per capita basis, while we added 5.5% of the total population over the years from 2006 till June 2010, the national debt per capita increased by 40%! (see the 2 graphs below)
 On average Malaysians population grew by 1.3% over these years, while total national debt (domestic + foreign) and total national debt per person increased on average 10.2% and 8.8% respectively.
Bear in mind that the increase in population are mostly babies hence non-tax payers so in Rich Dad Poor Dad 1Malaysia Rakyat Diutamakan version, a new born in your family in 2010 means an additional RM21,250 debt for your household, up from RM15,150in 2006.
No amount of love making can reverse this trend.
 How does our earning capability fare against our debts accumulation appetite? Well, between 2006 to June 2010, our gross domestic product grew at an average of 6.6% while the total debts grew at an average of 10.2%. Total debts to GDP have increased recklessly from 64% to 73%.
 We are borrowing faster than we are producing income (& babies). No educated, intelligent, prudent and responsible adult would put oneself and the family members through such reckless financial (mis)management but we are talking about a more than 50 years old administration who keep saying that only they can bring development.
And who does the Fed borrow from? From the breakdown, Sijil Pelaburan, Institusi Bank, Syarikat Insurance and KWSP represent between 63% to 73% of total HDNKP for the years 2006 till 2010.
Sijil Pelaburan? No wonder there is so much Wawasan, 1Malaysia and what not unit trusts being issued. The amount of sijils sitting as HDNKP has ballooned from RM19,600 million in 2006 to RM74,500 million (3.8 times) within the space of 3.5 years. I wonder how these sijil can service their dividends and interests? By borrowing more and more? I hope there is no gargantuan pyramid around. Read more at: http://wangsamajuformalaysia.blogspot.com/2011/06/national-debts-big-shadow-behind.html |
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