Sunday, August 28, 2016


BEAUFORT – Foreign Minister Datuk Seri Anifah Aman said his move to meet some Sabah opposition figures should not be misconstrued.
Anifah said his meetings with some opposition leaders were to get their feedback about what was due to Sabah and the state’s rights.
He said the question of him acting in bad faith against the Prime Minister did not arise as he had informed Datuk Seri Najib Tun Razak his intentions of these meetings.
“The Prime Minister understands my stand and principles on the matter,” he said when opening the Kimanis Umno meeting at the Membakut community hall near here on Sunday.
Anifah, the Kimanis Umno chief, said it was ironic that former Umno vice president Datuk Seri Mohd Shafie Apdal had accused him of working with the opposition when he was the one who was suspended from the party.
Anifah said Umno members should always remember that the party had gone through good and tough times and was a well-established political organisation.
“Like carbon that has been compressed in high heat and becomes diamond, Umno is tough enough to withstand challenges as long as member remain loyal,” Anifah added.

Our Capital Market (KLSE, Bond Market, Loans) Dropped 12 Places to 16 out of 20 !! Going down, down, down !

Image result for Malaysia’s capital market ranking drops to 16 out of 20

This is from Free Malaysia Today. My comments in blue.

Malaysia’s capital market ranking drops to 16 out of 20
M'sia’s capital market used to rank in top four in East Asia in mid-90s
Now, it is 16th out of 20 Asian countries
Indonesia overtaking us in July 2016

(I told you so. This happened after the mamak was put in charge. This is proof of incompetence. The country has been going down since the mamak appeared on the scene.)

Indonesia now darling of investors 
Malaysia taiko among poorer countries Vietnam, Cambodia and Myanmar.
in 90s M'sia’s capital market fourth after Japan, Taiwan and Hong Kong.

(Malaysia has gone from top four to bottom four. Indonesia has passed us. Next Vietnam, Cambodia and Myanmar may get past us. Papua New Guinea has beat our football team. Maybe Papua will pass our capital markets too. Can you hear the Dumbnos? They are saying, 'So what?', 'Who cares?') 

Hong Kong’s daily capital market volume is RM30b
Indonesia RM2 to RM3b daily 

Shanghai RM40 to RM50b daily.
M'sia’s daily volume is  RM1 to RM2b
  • expansion of Indon capital market policies due to Jokowi since 2014
  • Jokowi's tax amnesty to bring billions of dollars, no questions asked
  • 2nd measure to reduce corporate tax from 25% to 17% 
  • attracted foreign companies to invest 
  • This created jobs for people
  • Jokowi’s third step to attract USD1 trillion investment from Japanese 
  • these three measures, Indon capital market will grow 20% by end 2016 
  • a lot of cash in Indon market at the moment
M'sia’s corporate tax remains at 25%

( In Russia both corporate and personal income tax was set at 15%.  Indonesia's corporatetax is 17%.  This alone will pull significant investment to Indonesia instead of Malaysia. The Japanese are investing in Indonesia, most likely at our expense.
We should reduce our corporate and personal income taxes progressively. Since the gomen has already imposed the GST, they should reduce other taxes. Instead we still have 25% corporate taxes, income taxes and now GST. And the gomen is still going broke.

need to have easier flow for ringgit trade, just like rupiah
M'sia currency restrictions on ringgit 
flow of currency restricted
a lot of red tape for foreigners 
crucial to allow easier flow of ringgit

size of capital market directly proportional to size of economy. 
US world’s largest economy, has largest and deepest capital market. 
capital markets move money to organisations which need it to be productive
critical for a smooth functioning modern economy.

(This is very true. The stock market captures the productivity of the people in a country. People who are productive generate surplus wealth which can then be invested in the efforts of other productive people to create more wealth. It is a virtuous cycle. 
The Malaysian capital market has gone from No. 4 in Asia to number 16 - out of 20. Our economic growth has also been shrinking. From 7% down to 6%, to 5% and now down to 4%. Granted the world economy goes through cycles but a sustained down trend like this is reflective of incompetent policy makers and incompetent gomen administrators. The mamak is at the top of all this incompetence.

Also, since they consolidated the banking industry, wiped out the finance companies, wiped out the credit and leasing companies, 'merged' more than 50 local banks to the less than 10 so called "mega banks' or "anchor banks" (a load of crap) it has wiped out easy access to credit (aka capital).  Which has given birth to the rise of the Ah Long industry, which will never go away now. Without easy access to capital, the long term economic growth has been hampered.

There has been gross incompetence in managing our economy for some time now, but it has accelerated over the past 13 years.

The management of our economy (and the country) has destroyed wealth creation opportunities steadily over time.  That is why now we are at no. 16 out of 20 - at the same level as Myanmar, Cambodia and Vietnam.  Thailand has long ago gone passed us. Indonesia has gone passed us too.  This is incredible stupidity.  Sadly, not many will even understand this.)

Sun Nite Lite

When the hall of power was a restaurant

The historic Federal Hotel's Mandarin Palace was the venue for Tunku Abdul Rahman's cabinet meetings.
KUALA LUMPUR: Today people go to Bukit Bintang to shop or to enjoy the night life, but more than 50 years ago, it was where leaders of our newly independent country discussed national issues.
Long before the construction of Parliament House began in 1961, Prime Minister Tunku Abdul Rahman would hold his cabinet meetings at Mandarin Palace, the famous Chinese restaurant at Federal Hotel Kuala Lumpur.
The restaurant, its red walls adorned with 1,188 intricately carved wooden dragons and other carvings, indeed served as the hall of power.
Nancy Huang, who has been with hotel since 1967 and is now its Room Division Manager, told FMT that all the wood carvings in Mandarin Palace were imported from Taiwan because Malaya did not have any relations with communist China then.
“There was no parliament building and in those days, there was no such things as conference rooms,” she said. “So the Tunku and his Cabinet would have their meetings inside the restaurant.”
While other outlets in the historic hotel have been renovated over the decades, the Mandarin Palace remains much like it was when it was opened in 1957. Only the chandeliers have been changed.
Huang said her seniors who were working in the Mandarin Palace during Tunku’s tenure would often praise the country’s founding father for his friendly demeanour.
It was the Tunku who asked the late tycoon, Low Yat, to build the hotel in preparation for Merdeka.
It became the country’s first international class hotel.
“It was a mad rush to complete the hotel,” Huang said. “It opened its doors on August 28, 1957, a mere three days before Merdeka.”
The hotel played host to the VIPs who attended the Merdeka celebration and was the venue for the Merdeka reception dinner.
Around the hotel, pictures of the Father of Independence can be found hanging on the walls, with the iconic photo of the Merdeka declaration plastered at the hotel’s main lobby.
In those days, Huang recalled, Federal Hotel and the surrounding BB Park were the life of the city.
“The city folk would head to the nearby BB Park for entertainment such as joget dances, cinemas and games,” she said. “Everything was happening around Federal Hotel.”

Umno told: Clean up your act before attacking Mahathir

Syed Saddiq reminds the party of occasions when it failed to defend the royal institution.
PETALING JAYA: A Parti Pribumi Bersatu Malaysia leader has accused Umno of hypocrisy for its condemnation of former PM Mahathir Mohamad over his remark about the impropriety of promoting a “Bangsa Johor”.
Syed Sadiq Abdul Rahman, a member of the Bersatu pro-tem committee, last night issued a media statement in which he gave a list of the occasions when Umno leaders failed to defend the Malay rulers.
“This statement was not made to defend any party, but to request for several Umno members – Hishamuddin Hussein, Azalina Othman Said, etc – and anyone else who feels its sting to stop being a hypocrite,” he said.
“When Mahathir made a remark on Bangsa Johor, many made a fuss about it as if they have always fought for the constitutional monarchy in Malaysia.”
However, he noted, nothing was heard from Umno when the National Security Council Bill was passed as a law without the rulers’ consent.
The rulers’ request for the bill to be redrafted was in fact ignored, he added. He asked: “Where was Umno-BN then?”
He also mentioned Umno Supreme Council member Nazri Aziz’s verbal attack on the Crown Prince of Johor. “Where was Umno when Nazri said, ‘We will whack him’?”
He brought up other incidences in which Umno allegedly treated the royals with disrespect, such as when it ignored their decree for the 1MDB issue to be solved immediately.
Syed Saddiq defended Mahathir against critics who have been referring to his record as prime minister.
He acknowledged that Mahathir made mistakes, but noted that he had apologised for them.
“What about Umno?” he asked. “Clean your own front yard first. Don’t be a hypocrite.”

Group calls for urgent transport fare review

Malaysians would not have suffered so much if a tariff review committee had been set up, says 4PAM
PETALING JAYA: The Malaysian Public Transport Users Association (4PAM) has renewed its call for the establishment of a Public Transport Tariff Review Committee (PTTRC) and urged Prime Minister Najib Razak to ensure that public transport fares are reviewed immediately.
Speaking to FMT,its president Ajit Johl said all stakeholders should be represented in the PTTRC and it should report directly to the Prime Minister or the Transport Ministry.
He was reacting to a reader’s letter to The Star which said that using public transport was less feasible than driving one’s own vehicle because fares on LRT and BRT were exorbitant.
Ajit said Malaysians were suffering because nothing like a PTTRC had been set up.
“Had the committee been in place, we believe fare hikes would be more realistic and acceptable to users,” he said.
He said the committee could do more than just review fares; it could also look into other fees related to transportation, such as rates at park-and-ride facilities.
At present, he said, the Land Public Transport Commission (SPAD) could approve increases in fares “at whim”.
“4PAM understands that operators have cost structures and need fare increments, but there must be a basis for increases,” he said.
“Fare increases should be based on operational costs and the performance of operators against predetermined KPIs.”

Don’t try to be a hero, Ibrahim tells Tajuddin

The Umno Supreme Council member is criticised for disrespecting Mahathir.
PETALING JAYA: Umno Supreme Council member Tajuddin Abdul Rahman’s attack on former PM Mahathir Mohamad has earned him a rebuke from Perkasa President Ibrahim Ali.
Reacting to Tajuddin’s allegation that Mahathir had lied when he said he did not sign the Internal Security Act (ISA) detention order under the infamous Operasi Lalang, Ibrahim said it was an offensive show of disrespect, especially coming from someone who had benefited politically from the former prime minister’s help.
He claimed he had more than once interceded for Tajuddin and succeeded in getting Mahathir to accept him back into Umno and to allow him to contest in a general election.
“Three times I stood up in the Supreme Council meeting to call for Tajuddin’s readmission into Umno,” he said.
He also said he lobbied with Mahathir for Tajuddin to be listed as an election candidate, resulting in his being allowed to contest in Sungai Manik in the 2004 general election.
“He should respect elders who have helped him,” Ibrahim said in a media statement. “Even if there is a difference of opinion, there’s no need to try to be a hero.”
Ibrahim explained that any decision to detain a person under the ISA would be made by a committee after it had discussed recommendations by the security forces.
He said the signing of such a detention order by the Home Minister or his deputy was a mere formality.
In his allegation, Tajuddin said it was unacceptable for Mahathir try to clear his name from the taint of Operasi Lalang because, as Home Minister at the time, only he had the power to issue the detention order.