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Posted: 03 Jun 2011 06:30 PM PDT

What you heard during the presidential address was some idea about a welfare state which PAS wants to introduce if Pakatan Rakyat comes to power; on how Umno had corrupted and made Malays unthinking, etc. Basically, you did not have table thumping and fire and brimstone speeches and threatening gestures you find at the Umno assembly.

The Malaysian Insider

Beyond the headlines in the past few days, some interesting facts and storylines have been thrown up by the PAS elections. These include:

Lesson Number 1: For all the stereotyping of PAS as a party of backward religious types, these elections have shown that the Islamic political party is committed to democratic principles.

In the months before the polls, it was clear that this was going to be a tough and possibly acrimonious polls between the religious class and the progressives. Some argued that the PAS leadership should have postponed the bruising elections in view of coming general elections.

No way.

PAS went ahead with the party elections, believing that electing leaders is a crucial part of democracy. Unlike Umno who has postponed its party elections for fear of infighting. Unlike the MCA which has also postponed its party election.

Sure, the PAS leadership may have their work cut out in bridging gap between the ulamas and the progressives but would you prefer politicians who delay tackling an issue or those who confront issues headlong?

Lesson Number 2: Calling all future election candidates: if you want to win a contest, engineer it so that Utusan Malaysia and the mainstream media will campaign for your opponent.

In the run up to the PAS elections, Utusan Malaysia campaigned for Nasharuddin Mat Isa and others in the ulama class, believing that this group was more amenable to working with Umno.

Not a day went by without Utusan Malaysia talking up the need for PAS to be run by the ulamas (a curious happening given that the paper's owner ridicules PAS's brand of Islam).

So what happens? Nasharuddin the incumbent number 2 is soundly beaten by Mat Sabu, a PAS veteran who enjoys close ties with Lim Guan Eng and Anwar Ibrahim. Also, Husam Musa — a favourite target of Utusan Malaysia — got in as one of the three vice-presidents.

Perhaps this is another sign of the waning influence of Utusan, a paper read and believed only by Umno members. This fact should worry Umno because its mouthpiece is losing the ability to shape opinion outside hardcore party supporters.

Lesson Number 3: You didn't hear Ustaz Hadi Awang speaking about Malay rights, about apportioning contracts to Malay business, about banning the Bible, about crushing Christians.

Basically, you did not have table thumping and fire and brimstone speeches and threatening gestures you find at the Umno assembly.

Point is that the PAS leaders may not come across as urbane or sophisticated but they seem to dislike playing the race card. That is refreshing in this racially polarised country.

And reflects what Islam is all about. Or for that matter, the PAS that wants to govern Malaysia.

Perkasa’s pro-Malay antics bordering on insanity

Posted: 03 Jun 2011 05:09 PM PDT

We have been tolerating this injustice for 47 years. It started with the pro-Muslim policies of Tunku Abdul Rahman (which victimized Donald Stephens and Peter Mojuntin), and it cannot continue any longer. The present BN government is perpetuating this injustice and there is no indication of this ever going to stop in spite of all the big talk about national unity, national integration and now 1Malaysia. We can only stop this injustice by changing the system, by changing the government, and building a new Malaysia.

DANIEL JOHN JAMBUN

The noises made by Perkasa about Malay rights have by now been testing the patience of right thinking Malaysians. The ideas they have been harping on are getting very tiring and boring, and yet they keep throwing them around, trying to make them sound logical. But how long can they shout and scream about the same things before they prove themselves to be really out of their minds – wild crackpots who should be relegated to the lower ranks of the human species. And why not, for the antics of this strange movement called Perkasa is now so twisted that it is really bordering on insanity!

The latest 'logic' from Perkasa, as reported by one online media, is that its Secretary General, Syed Hassan said national unity could only be forged if all Malaysians respected the special privileges accorded to the Malays under the Federal Constitution. He disputed MCA president Dr Chua Soi Lek's call yesterday to think as Malaysians first to work together to maintain a peaceful nation.

This begs the question of when did we ever tried to or managed to infringe on Malay rights in Malaysia. As I remember it, the Chinese got peeved off when the Malays keep calling them 'immigrants" (pendatang) and accused the Malays as immigrants as well. But the real roots of the Malays' unhappiness is the inability of the Malays to compete with the Chinese no matter what the Malays do to favor and benefit themselves. Somebody has to be blamed for the failures of the Malays in commerce and industry, so it must be the 'greedy' Chinese. But the fact is, this is a twisted way of looking at history and current realities in Malaysia.

We all know this is not true. In one open letter (available online) to Tun Mahathir, the patron of Perkasa, one "Bryant of India" writes: "As you are aware, the Malays control the rights to all the lands and natural resources in this country. They control all government institutions, GLC and state-owned companies. The Malays also dominate the lawmaking process in Malaysia including the decision-making processes in the formulation of the country's economy policies.

"From statistics we also know now that the Malays not only own the largest national assets but are also freely – and without conditions – allocated shares in public-listed companies. The Malays have also been accorded all kind of priorities when it comes to buying properties, awarding of public contracts, tertiary education opportunities including the granting of scholarships and even securing jobs in any of the government departments and agencies.

"Yet with all these privileges and rights enjoyed by the Malays, you still complain that not enough is done to help the Malays to catch up with the other ethnic groups, principally the Chinese? Then what else should Malaysia do to satisfy the Malays? Did the Chinese seize or rob anything away from the Malays or were their accomplishments the result of their hard work?

"If it is all due to their diligence, why do you say it is unfair? Many of us don't quite get your point here. May I therefore ask you what you expect the Chinese to do in the event that your so-called NEP fail to achieve the desired result? Would the Malays be happier if the ethnic Chinese in your country do any of the followings:

(1) Surrender their assets and hard earned money to the Malays unconditionally;

(2) Not to engage in any business activities;

(3) Not to do well in all sort of school, college and tertiary examinations;

(4) Not to earn more income or achieve greater than the Malays;

(5) Not to advance to higher education; or

(6) Renounce their citizenship and return to China or migrate to somewhere else? Have you ever stopped to think why 30 years of implementing the NEP had not brought about the desired results or should I say, not achieved the principal objectives and that is to economically equip ALL the Malays in the country?

Maybe the NEP could have but you and your cronies denied it the ability to; instead allowed the system to carry on for more years than it ought to so that others can call you god because of the illicit money you funnelled to them.

"Under the NEP there is a complex series of policies that favours the Malays. And despite these policies, the Malays still can't get what they want – again the question is what else do you want the Chinese to do? Do you blame the Chinese simply because they are industrious and focused? Or should you level your blame at those Malays who do not treasure the opportunities that you claim you have given them? Having asked that did you or did you not give them these opportunities?"

Why does Perkasa believe that only the Malays should be respected in Malaysia? To say that unity can only be forged in Malaysia if all Malaysians respected the special privileges accorded to the Malays under the Federal Constitution is ridiculous because the Malays have already been accorded more privileges than they deserve. We also need to remember that Article 153 of the Federal Constitution says that the Yang di-Pertuan Agong is responsible for protecting the special position of the Malay AND THE INDIGENOUS PEOPLE OF ANY OF THE STATES OF SABAH AND SARAWAK AND THE LEGITIMATE INTERESTS OF OTHER COMMUNITIES.

Even in the Sabah State Constitution the Tuan Yang Terutama is made responsible (dipertanggungjawabkan) for the special rights of the natives. So it is really downright silly and a deliberate lie to say that the Federal Constitution guarantees the "special privileges" of the Malays (actually it is "special position")! Note that the natives of Sabah and Sarawak HAVE THE SAME POSITION as the Malays of the Peninsular. Take this as a reminder that respect must be earned through merit and not by threat or force. So, big-mouthed Perkasa, shut up and grow up! We are sick and tired of you!

Because of this Malay mentality which have been promoted by a lot of Malay supremacist groups long before the existence of Perkasa, even the so-called Malays in Sabah and Sarawak have become arrogant and think that the Malay/Muslims have bigger rights than the non-Muslims in the Borneo states. That is why the PSD officers have been discriminating against job and scholarship applicants who are non-Muslim Kadazandusuns and Muruts.

Maybank or CIMB, EPF?

Posted: 03 Jun 2011 12:54 PM PDT

By P Gunasegaram, The Star

THE Employees Provident Fund (EPF) will soon be in a happy predicament, if it is not already. That's because it will be negotiating to sell its 45% stake in RHB Capital to one of the two largest groups in the country – Malayan Banking or CIMB Group.

It is a stake that EPF did not really want but nevertheless acquired after warding off other parties in a takeover battle in 2007. It did that to protect its interests in RHB Cap but ended up with majority control and in a a situation in which it controlled a large commercial banking group.

That's not a good position to be in because it is better that a provident fund should concentrate on fund management instead of managing a bank and all the problems and potential conflicts that come with it because the EPF is after all the largest player in the local capital markets.

Thus, the EPF cannot hope to be in a happier position than this where two of the largest banking groups in the country and among the largest regional players want to get their hands on RHB Capital.

That accomplishes three things for EPF immediately. First, it no longer has to involve itself in the running of a banking group. Next, if there is a share exchange involved, it offers it the opportunity to have a meaningful but not controlling stake in the largest Malaysian banking group, thereby allowing it to be a passive investor as funds should be. And finally, it can expect to get a fair deal and withdraw its investments in RHB Capital at a considerable profit.

Both Maybank and CIMB have been given Bank Negara approval to negotiate with RHB Capital and its major shareholders. Indications are that the preferred route that either banking group will take is the asset and liability method.

Under this, RHB Capital shareholder approval will be sought for the sale of the business. Under recently revised requirements, the sale will require the approval of 75% of shareholders, which means the deal cannot be done without EPF approval.

The other substantial shareholder of RHB Capital, with a 25% stake, is Abu Dhabi Commercial Bank or ADCB. ADCB wants to sell its stake and is already looking for buyers.

It would be prudent for it to wait to see how Maybank's and CIMB's offer pans out before it makes its mind up.

On the surface, it would seem logical that EPF (and ADCB) simply take the best offer and be done with it. That would be the right thing to do if the deal was going for cash.

But what would EPF do with all the cash that it would get – more than RM10 billion? EPF would plausibly like to be invested in the enlarged entity via a share exchange, a smaller stake in a much larger bank with a strong regional presence.

If that is the case, then it has no choice but to consider who will make the better fit with RBH Capital in terms of the merger – Maybank or CIMB. If it is a share exchange, valuations are unlikely to be very different.

It will be foolhardy to accept a proposal because the dowry is highest. Happiness, well-being and prosperity in the long-term will depend even more on the characteristics of the bride and the one who would be groom – compatibility in other words. As in all marriages, one can never be sure.

That's why the EPF (and perhaps ADCB too) should not necessarily choose the higher bidder. And that's why Maybank and CIMB should not bid their prices up to astronomical levels and put the very merger itself at risk.

Lay down your reasonable bids and let the better, not necessarily richer, man win.

Kredit: www.malaysia-today.net

Sabtu, 4 Jun 2011

Malaysia Today - Your Source of Independent News

Malaysia Today - Your Source of Independent News

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