Malaysia Today - Your Source of Independent News
Malaysia Today - Your Source of Independent News |
- Kerana politik, sanggup mengorbankan kanak-kanak yang tidak bersalah
- Govt plugs the hole of RM23b in supplementary budget
- “Eco-Terrorists”? – Exclusive Revelations
- The economics of 1Malaysia Menu
- How many billions is Taib worth? Son’s divorce may reveal family’s fortune
| Kerana politik, sanggup mengorbankan kanak-kanak yang tidak bersalah Posted: 19 Oct 2011 04:20 PM PDT Ramai yang meminta saya menulis dan memberi komen tentangnya. Saya tidak mempunyai komen panjang tentang isu ini. Yang pasti 'Law-makers' dari UMNO nampaknya menjauhi diri mereka dari isu ini dn rata-rata kita mendengar yang UMNO tidak terlibat dengan isu yang panas ini. Malahan Ahli-Ahli Parlmen UMNO meminta Guan Eng menyaman Dr Novandri dan bloggers pro-UMNO jika itu merupakan fitnah yang sengaja diadakan kerana tuntutan politik yang 'desperate'.
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| Govt plugs the hole of RM23b in supplementary budget Posted: 19 Oct 2011 03:22 PM PDT However, he did not elaborate where the additional funds would come from. Prime Minister Najib Tun Razak has been under pressure to tackle the country's government debt to GDP ratio, which stands at 53.8% when he launched its 2012 budget last October. As an aftermath of Greece's default in January 2012 and the subsequent global recession, Malaysian economy shrank 2% in first quarter 2012. This is on the back of an economic forecast of 5.5% growth for 2012 in its 2012 budget. Analysts has since projected the economy in the territory of -2% and -5% for 2012. Just last month, Standard and Poor's downgraded Malaysia's credit rating to "CC-", which reads "currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments". This brings the costs of borrowings go up significantly, raising doubt on how this additional RM23 billion to be financed.
* a work of fiction |
| “Eco-Terrorists”? – Exclusive Revelations Posted: 19 Oct 2011 12:13 PM PDT These worrying links not only threaten the integrity of old-growth forests back in Tasmania, they are also working to wreak destruction over vast swathes of the Borneo Jungle, as Taib's hugely controversial mega-dam project gets underway. Tit for tat deal? We can reveal what would appear to be a tit for tat deal, whereby Sepawi, appointed by his cousin as Head of Sarawak's state electricity company, has offered a massive hydro-electricity contract to Hydro-Tasmania at the same time as his private timber venture, Ta Ann, has been allowed to benefit from subsidies and logging in Tasmania's conservation forests. Sepawi is the major shareholder and Executive Chairman of the logging giant Ta Ann, which was brought into Tasmania in 2008 with the help of massive subsidies from the Australian state. However, so far, the company has achieved nothing but losses for the state's forestry industry and is controversially obtaining its wood from conservation forests. Despite this, Tasmanian Ministers have doggedly supported the venture and ignored concerns about corruption and human rights issues in Sarawak, where Sepawi is a key member of a demonstrably illegal family regime. These Ministers have also chosen to ignore protests about false advertising by Ta Ann, which promotes its Tasmanian products as "eco-friendly".
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| The economics of 1Malaysia Menu Posted: 19 Oct 2011 11:51 AM PDT For RM3.00, you can get rice, taugeh, chicken wings, beef or mutton? According to the prime minister's budget speech: --------------------------------------------------------------------------------- 74. The Government will undertake measures to ease rising costs and prices as well as reduce the burden of the rakyat, as follows: First: Increase the number of Kedai Rakyat 1Malaysia (KR1M) nationwide in 2012. KR1M offers 250 types of 1Malaysia products, comprising consumer goods which are up to 40% cheaper. In view of the overwhelming response, the Government plans to open an additional 85 units in 2012 with an allocation of RM40 million; Third: Extend and promote the Menu Rakyat 1Malaysia which offers popular menu sets at reasonable prices with a maximum of RM2 for breakfast and RM4 for lunch. Currently, more than 700 food operators are participating and this will be extended to 3,000 operators by end-2012. To further expand this initiative, the Government encourages all cafeteria operators in Government offices* and the private sector to implement the Menu Rakyat 1Malaysia. * not only they get increment and bonuses without performance appraisal.... ------------------------------------------------------------------------------------. What form of "encouragement" is the PM talking about? Anyone knows you can't run business on a free.An operator has to pay rental (a mamak restaurant's monthly rental can easily hit RM10,000), salaries and wages, and ever escalating prices of foodstuff. Simply verbal encouragement and a road show visit by a smiling PM won't foot the operating expenses. The prime minister have to be transparent and explain how 3,000 operators can and willing to participate. Are they being subsidised in some creative way via tax payers money? We are all familiar with the modus operandi of 'compensation for not reaching supernormal profit targets'enjoy by highway concessionaires for example. When you get a discount during festive balik kampung, the government will hack off around RM800million of tax collected/debt raised to pay Plus and bill back the tax payers later. Tax money which should have been used for education, healthcare, public amenities ended up as a nice profit before tax in some listed company Did the Prime Minister Depatment sent financial professionals to help these operators to do proper financial and sensitivity analysis to help them set pricing of their products to justify lower selling price hence higher volume which will generate enough income for the operator to continue to function? Sorry, it is easy to poke a hole in it. Higher volume of sales equals to higher cost of sales hence by lowering selling price, the margin would be depressed instead. Similarly it goes with Mydin Group who is awarded the Kedai 1Malaysia franchise, a logo financed by tax money. How could it sold stuff cheaper by 40%? Is there a hidden subsidy somewhere? Did Najib administration have a written agreement with favourable terms for Mydin Group to enable it to use a trademark paid by taxpayers and undercut all other retailers facing business risk on their own? |
| How many billions is Taib worth? Son’s divorce may reveal family’s fortune Posted: 19 Oct 2011 01:05 AM PDT Maybe so when there are still 16 dams to be built and lands to be grabbed and until every piece of the business pie is directly under his and family's your thumb.To an extent, leaders who overstay have the habit of thinking that they are immortal. And this seems to be the case with Taib Mahmud. He is immortal in the eyes of his followers and believers. Thus, many are now resigned to waiting for the veteran politician to kick the bucket. Yes, this may sound awful but Taib has done awful things to many people. And among those looking forward to Taib checking out may include Prime Minister Najib Razak and his political cronies from the peninsula. Taib out, Umno in? There was once a school of thought that without Taib in the picture, Umno could have a foothold in Sarawak. Yet, in recent years, even without Taib, the people of Sarawak would be the first to say, they do not want Umno. To understand why, one needs to just look across the border from Sarawak to Sabah and see Umno's incredible mismanagement when they are given the chance to run the government. So for now, Najib is content to leave Taib alone, allowing time and tide to take its natural toll. Already, Taib has had to deal with corruption investigations launched in three countries into the various business entities that have a direct or indirect link to him. And if corruption alone was not enough, he now has to contend with the fact that he may have to play witness to his son, Abu Bekir Mahmud's divorce proceedings in the Kuala Lumpur Syariah High Court. Make no mistake, this divorce is a prickly issue for Taib. Foreign corruption cases can be sidelined by litigation and such but his son's divorce proceedings may open the lid to the immense wealth that their family – and indirectly Taib – have surely accumulated through the years. Half-half Abu Bekir's wife Shahnaz Abdul Majid is applying for a RM400million divorce settlement, a handsome sum but why RM400 million? Shahnaz had filed applications on Feb 21 to get RM300mil in matrimonial property (harta sepencarian) and RM100mil in gifts (mutaah). She is claiming 50% of all assets such as seven luxury cars, houses in various locations and land in Sarawak, companies and shares. Alternatively, she is asking for the assets to be sold off and the proceeds to be divided equally between them. In her application for matrimonial property, Shahnaz stated that Mahmud held the executive chairman post in Syarikat Cahya Mata Sarawak and their joint assets include shares in 15 different companies including Cahaya Mata Sarawak and Sarawak Cable Bhd as well as savings in Employees Provident Fund and Amanah Saham Bumiputera units. Thus Bekir had the capability to pay her the amount she was asking for.
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