Dr M: Why must Malay leaders say sorry?

Eddy said: Given that UMNO is still the largest political party in the nation and which is still in power, how the heck you compared the influential of the words coming out from the mouth of its leader and some daring song from a youngster and
some stupidity acts from a group of fanatic people. Not Apple to Apple, dude. It's like durian to langsat comparison.

And on top of that, Najib doing quite well in being a role model (or he just try to cover his own as*es) and demonstrated that leaders do apologized (Well, although most of them did and that seems like the only thing they are very good at).

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PETALING JAYA: Tun Dr Mahathir Mohamad has questioned why Malay leaders were apologising over a remark deemed as racist by an Umno leader.

He said non-Malay leaders never apologised when similar racist remarks were made by members of their community.

The former prime minister said in his blog (www.chedet.com) the Malays were so scared of being labelled racist that they even wrote in Malay papers that the Malays were not racists.

He was referring to the apology by Deputy Prime Minister Datuk Seri Najib Tun Razak made on behalf of Umno over a racist statement by Bukit Bendera Umno division chief Datuk Ahmad Ismail.

He cited the case of the Hindu Right Action Front, he said so many allegations including Islamist extremism and ethnic cleansing were hurled against the Malays.

However, no one demanded apologies from leaders of the non-Malay community.

He also cited the case of Wee Meng Chee who made parody of the Negaraku and poking fun at the call for prayers but there was no apology from leaders of the community over Wee’s actions.

Anwar Did It Again?

When there are too many coincidences, the chances are there must be some rationale or logics between these occurrences. The timing is just too "accurate". As I mentioned in my previous post "His Political Life is numbered", will a depressed leader misconduct to prolong his political lifespan? I don't know.

MCA leaders are stepping down. That MIC leader is still holding still his holy stone and don't want to let go. Situation in cabinet and UMNO are seems to be chaotic and miserable. In addition to that, 2 major MP projects in Penang was postponed and people can have only one thought in mind: The government is treating different states unfairly depending on which party is controlling the state. And the federal can't really blame us for having such thought because the signal is clear and obvious. Among so many MP projects, why these two? To reason, we need more facts and facts are something that Malaysia lack of and due to the lack of facts, we are lack of transparency.

Then the saga continues, Anwar is alleged conducted sodomy, again. Put it upfront, I am NOT favouring any political parties or authorities and whatever coming out from my mouth (thus my blog) are purely a reflective thought after receiving all sort of information from a variety of information sources. So, we ask: is Anwer screw up again or being screwed. Again, we have no idea.

It might even be possible that Anwer put it the show himself to provoke people's hatred towards existing authorities even more.

See? Things don't just happen. I'm curious what will be the real agenda and who will stands till the last. Again, even after the case closed, we will still have not even a damn clue about the truth.

Remember that.

Petrol/Gasoline Prices Myth?

Striking headline "Petrol price might up to MYR3 or more, if uplift subsidies".

Let me see, current commercial petrol prices in Malaysia are:

PENINSULAR MALAYSIA

RON97 RM1.92 per liter
RON92 RM1.88 per liter

Note: RM = Ringgit Malaysia, same with MYR, Malaysia Ringgit

Compared with gasoline price in the U.S. around USD3.2 per gallon.

Note:
1 gallon is equivalent to 3.8 liters
USD1 is equivalent to MYR3.2

Roughly, the adjusted petrol price will be (USD3.2 * 3.3) / 3.8 = MYR2.78 per liter

The abovementioned price of adjusted petrol price of MYR3 per liter is actually based on the outdated currency conversion rate of nearly USD1 to MYR3.8

What the hell!

Then, assuming the subsidy at the moment is (Actual Price - Retail Price) = MYR2.78 - MYR1.92 for RON97 petrol price, so the government is subsidiazing a MYR0.86 per liter or that is about 30 percent of the unsubsidized price.

Petronas Pretax Profit was MYR76.3 Billion, after tax around MYR46 Billion
Government received tax from Petronas was MYR21 Billion
Population in Malaysia is around 25 Million as of consensus in 2007.
Subsidized petrol price per liter is MYR0.86

Now if everyone in Malaysia spend exactly 3 liters of petrol everyday, the total subsidized amount is (25,000,000 * 365 * 3 * 0.86) approx. MYR23 Billion.

Petronas is drilling holes on our own nation grounds and it is totally reasonable to "refund" our people half of the net profit it gained.

I totally agreed that the country developments could be expedited if the subsidies uplifted. Still, I demand a transparent fund allocation of the savings and constant evaluation of fund usages. I remembered that our current P.M. promised development of better public transportation system when they announced to increment the price to MYR1.92. Have we seen it yet?

I'm totally so frustrated with the fact that crony capitalism is still blooming in Malaysia. I suggest that every public servant must declare their assets and conflicts of personal and pecuniary interests. These declarations should be printed out as flyers and give it out to the public. Those that caught violated with the code of ethics or legal conducts must severely punish.

Introduction of RON95 type of petrol.

Again, please quantify the actual subsidy distribution. If RON95 price is consistent with current RON97 of MYR1.92, then the adjusted RON97 price to RM2.78 is basically a day light robbing from the middle class society.

In relation to capital market, such adjustment to petrol price would causes immediate detrimental impact to macroeconomic variables and company fundamental of particular sectors. For others, medium to long term effects shall be visualized.

See you guys in... let say another 5 years?

Congratulations to opposition coalition for putting up such a nice show in this Malaysia General Election 2008.

Let us analyze some of the impacts caused.

1. MCA and MIC

The three biggest components in Barisan Nasional are UMNO, MCA and MIC which basically represting their belonging race in Malaysia.

As far as the results concerned, the self acknowledged identity of being #2 for MCA and #3 for MIC flamed the parties.

Mr. Chan Kwong Choy made a good decision by not going into this mess of mud water. Bravo for his "go before you reach the top" way.

Contradictorily, the fellow Samy did the opposite and now flunk out in some sense of humiliation. Who's next? Rafidah?

What will happen to MCA then? Well, nothing much, life's goes on. Power reduction in cabinet, loss of members, flushing of top leaders and working as usual if not harder.

MIC? The cloud over the top, second and third positions in MIC will cause a major overhaul and this overhaul shall be influenced by people from UMNO.

2. DAP and PKR and PAS

B.N. is smart by now having two bishops to balance off the power struggling underneath the nation. MCA is too weak a character to stimulate audiences' appetite. Thereby another supporting role came up: DAP. Giving out way to DAP strew MCA up without conflicting the interest of UMNO. To recap, B.N. still control the federal government. The chinese population MUST monitor closely the happenings of these 2 parties from now on and my instinct told me that one way or another, the chinese will need to prepare for some trade-offs and drawbacks.

DAP, PKR and PAS can really be good allies? I don't know. No historical data to inform my knowledge on this matter. I guess some fundamental types of collaboration conflicts will definitely need to resolve to alleviate potential bottlenecks.

The one THING that they should NOT bring up to the table is the issue of racisms. It is this issue that brought them the trophy and it can be the one that doom them and us.

3. Mahathir and Post-Mahathir
The outcome of the election might be tally with Abdullah's interests, to reform the government with his loyalty base. "Pre-historic" left over from the dictation of Mahathir still permeating the field and this time the election flushed out many of them, our beloved PM must be laughing at the back now. No other excuse that's better than "People don't like you, get lost!" to sack these cabinet members. I foresee many new faces shall appear out from the surface during the coming cabinet formation and no surprise, they will be Abdullah-compliant. I guess everyone want to know whether Rafidah already converted to "Abdullah-compliant" army?

4. Beyond 2008
Again, I saluted the wisdom of the strategic planner behind the scene. They really look at the big picture. Global recession is starting and it's time to put the burden or blame to someone else. Year 2008 to 2012 shall be the tough year for any people, corporations, societies and governments around the world. Increased living expenses due to inflations and economy instabilities will find its' ways to hit you and me. I think over the course of next few years, the opposition coalition will takes critics for being unable to prevent those from happening (Who can?!!). Sacrificing 5 years of non-full control for better voters buy-in in the future sounds like a pretty good long term strategic plan to me. Salute the mastermind!!

Manipulating and Manipulated

I know and understand that the mental influential of fear aspect is at least 5 times order of magnitude more powerful than the possibility of hope. People tends to believe more in negativity of outcome.

Obama and Hillary.

Obama is the first BLACK US president.
Hillary is the first WOMAN US president.

If you start to think about which direction is worst than the other, then most probably your decision is affect better by fear. Can't you just start by thinking "which is better"?

Let me localize the scenario to the country of Malaysia. Malaysia will go through a general election at least once every 5 years and usually there are 3 major categories of candidates contesting in the election: Barisan Nasional, Opposition and Independent.

Now, ask yourself a question, who's marketing strategy is more superior? Let us analyze from the angle of independent candidates. First and foremost, neither they can promise any realizable hopes (HOPE) nor they can inject the sentiment of fears to the public. They are just merely pathetic individuals aims to increase their presence in the market and metaphorically is just like a hat for a horse(for what!!).

In my opinion, oppositions made a terrible mistake. They need to understand one fact: They don't have the luxury of making use multiple themes in getting the attention of voters. Mixing up the elements of HOPE and FEAR in their strategy really fire back. If people get confused, they rather stay the same and vote for BN. It's like here i promise to give you candy where after 5 minutes later i tell you something bad about something else. The messages are NOT strong enough.

Before I continue, I like to stress that I'm not bias toward any of the parties and my analysis here is purely for the sake of analysis.

B.N. in other way, DON'T need to raise more hopes than necessary since people already sweetened by the pre-election candy. It's all about FEAR, FEAR and FEAR. An excerpt from TheStar dated 07-March-2008:

Abdullah: Vote for a
voice in the Government
Datuk Seri Abdullah Ahmad Badawi reminded the Chinese community that if they gave the DAP their votes, they will end up not having any representation in the Government. 

This is definitely a "blackmail" disguised under the words of our "Bapa Pembangunan Insan" (Go and google the wiki about this). Sadly speaking, besides few percentages of more enlightened and educated chinese, this message really get to the mind set of the rest. Again, I reiterated the success of FEAR in their campaign.

Malaysia is 51 years old soon.

Historically speaking, any successful developed nation MUST go through a period of revolution. US, China, Japan, Germany and many more, you name it.

A transition period is imperative for Malaysia, regardless of whether it is mentally, forcefully, fundamentally or cruelly done. I foresee no such sequence of circumstances shall occur at least in the near term, therefore I conclude Malaysia will stay within the range of + or - 5 years of development progress. Negative progress might be due to global economy recessions and eventual social depressions.

I foresee too that the effort of BNM to regulate the appreciation of Ringgit shall fall due to dynamic external forces or extreme depreciation of US dollar. China Yuan plays a very important role here.

Of course, the rule of thumb is the further to the future I forecast, the greater the deviation it will be compared to actual happenings. Hopefully Malaysia do work out great at the end of day.

God bless us.

Sayonara, Yellow Man

This day comes earlier than expected since some local funds bought in overflowing stakes from foreign substantial shareholders. The success of the smallest telco players among TM, Maxis and Digi, in terms of market capitalization really humiliate these so called government controlled, locally funded big corporations. Liberalization of public corporate entities is still a long way to go as long as NEP is in legal practice. What's next for the origin of Yellow Man? Emmm, it shall turns DARK BROWNISH (skins?), PUN INTENDED. Anyway, he's smart to throw Digi stakes at relatively high price to "innocent" GLC linked funds. Why he cares if the prices slumped back to RM5? Laughing all the way back to Norway.

This is a typical story ending of successful foreign investments in Malaysia. Sad and Happy.

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Change in Chief Executive Officer
Reference No CC-080211-41104

Company Name : DIGI.COM BERHAD
Stock Name : DIGI
Date Announced : 12/02/2008

Date of change : 31/03/2008
Type of change : Resignation
Name : MORTEN LUNDAL
Age : 43
Nationality : Norwegian
Qualifications : 1) Masters Degree in Science from the Norwegian School of Management (BI)

2) Master of Business Administration from IMD (International Institute of Management Development) in Lausanne, Switzerland.

Working experience and occupation : Mr Morten Lundal was appointed as the Chief Executive Officer of DiGi.Com Berhad Group on 26 July 2004.

He was previously the senior vice president for strategy and business development in Telenor since January 2003. Prior to this, he was responsible for all Telenor's activities in the business market as the Chief Executive Officer of Telenor Business Solutions. From 1997 to 2001, Mr Lundal was the Chief Executive Officer of Telenor's internet business area.

Mr Lundal has wide management consulting experience from both the Norwegian and international markets prior to joining Telenor in 1997.

Directorship of public companies (if any) : Nil

Family relationship with any director and/or major shareholder of the listed issuer
: Nil

Details of any interest in the securities of the listed issuer or its subsidiaries
: Nil



Remarks
Mr Morten Lundal's resignation as Chief Executive Officer of DiGi.Com Berhad Group will be effective 31 March 2008. His assignment contract from Telenor to DiGi is expiring soon and he has chosen to pursue new opportunities outside of the Telenor Group.


© 2008, Bursa Malaysia Berhad. All Rights Reserved.

ACA Not Vested With Power To Prosecute To Ensure Fairness

Chicken and Egg stupid question. Power bring Corruption, or Corruption produce Power?

The whole idea of separation of power is crap without TRUE TRANSPARENCY. No matter who's at the end hold the ultimate power of execution, without knowing what should and actually happening, it just the same old story.

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ACA Not Vested With Power To Prosecute To Ensure Fairness


KUALA LUMPUR, Dec 4 (Bernama) -- The power to prosecute is not vested in the Anti-Corruption Agency (ACA) to ensure cases are handled in a fair manner.

Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Abdul Aziz said the separation of powers to investigate and to prosecute was a universal norm and practised in Malaysia as well as in other countries.

"The power to prosecute in corruption cases, misappropriation and abuse of power is vested in the public prosecutors as provided for under Section 50 of the Anti-Corruption Act 1997 and Article 145 of the Federal Constitution.

"If the power to prosecute is also given to the agency which investigates the cases, it is feared that the power may be abused," he said in reply to a question from Senator Ahmad Hussin in the Dewan Negara today.

Meanwhile, Nazri commended the ACA for having investigated and acted on cases of misappropriation of public funds as highlighted in the Auditor-General's Report.

"The ACA has carried itself well by acting on the Auditor-General's Report recently. We know the report was tabled in the Dewan Rakyat and Dewan Negara each year but there was no action taken although it highlighted cases of misappropriation," he said.

Nazri said the government had to take stern action against those involved in misappropriation.

"The good news is that ever since the ACA started to act on such cases, members of the public are beginning to come forward with information because they are becoming more confident that the government will act on their complaints," he said in reply to Senator Datuk Saripah Aminah Syed Mohamed.

He said the public could play an important role in eradicating corruption among public officials, particularly those serving in the front line such as Customs, police and Immigration where there were more opportunities for corruption.

"If there are givers but no takers, there will be no corruption. If there are takers but no givers, there will also be no corruption...so the public must play their role by refraining from giving bribes," he added.

-- BERNAMA

Malaysia-Singapore Relations Progressing Well - Ng Yen Yen

Why should someone believe in what she say about Malaysia? You should believe her because she's not afraid of being sacked from the government. The worst is just migrate to Australia and enjoy the rest of her remaining life there.

Geez. All sorts of people in the cabinet.

Malaysia-Singapore Relations Progressing Well - Ng Yen Yen


SINGAPORE, Dec 4 (Bernama) -- Malaysia's relations with Singapore have progressed well since Datuk Seri Abdullah Ahmad Badawi took office as Prime Minister about four years ago, Malaysian Deputy Finance Minister Datuk Dr Ng Yen Yen said today.

She said the cordial relations had come to a stage where there was now an easy camaraderie among the leaders on both sides of the causeway.

Addressing a special luncheon organised in conjunction with the Singapore-Malaysia Business Forum held here, she said the good relations between the two neighbours were the result of Abdullah's commitment towards working through all outstanding bilateral problems.

She said Abdullah set the tone of the relationship of the two countries when he first visited Singapore in January 2004 and since then both countries had worked well together at various levels.

Ng also said the depth of Malaysia-Singapore relations were unmatched within Asean and besides their common cultural and historical bond, they were also underpinned significantly by commercial and people-to-people linkages.

She said that improved relations between the two countries covered various areas such as trade and investment and defence-related activities, particularly against terrorism.

The deputy minister said trade links between the two neighbours remained strong, with Singapore maintaining its position as Malaysia's second largest trading partner after the United States last year.

Singapore was also Malaysia's largest export market for goods in Southeast Asia, accounting for 54.4 per cent of Malaysia's total trade volume, she said.

Likewise, Ng said Singapore had significant investments in Malaysia last year which totalled US$513.3 million mainly in the areas of electrical and electronics manufacturing, food manufacturing, fabricated metals and machinery as well as chemical products.

She added that Malaysian investments in Singapore were even larger for the same year at US$1,284.7 million, mainly in the fields of finance, insurance, commerce, real estate, manufacturing, transport and storage and ICT.

Ng said although their economies were complementary, Malaysia and Singapore were also commercial rivals.

However, she said, in today's complex and globalised economy, both countries should work together in promoting cooperation while harnessing their competitive advantages for their mutual benefit.

-- BERNAMA

YTL Power Powering Up

Although recent YTL Power quarter result was nonetheless a bit disappointing, it is in my opinion a give and take situation given the reduced reliance on the contribution of operational profit in Malaysia. Frankly speaking, there are too many factors that may shake the entire economics fundamental of this developing country and those are not something that can be resolved by passing a bill or getting rid of some political party. Venezuela's President Hugo Chavez able to ride through waves of critism and face detrimental challenges from his opponents, even though his own intentions are doubtfully genuine. He got the charism and strong voice. Deterministic of wills show the capability of one's leadership.

Pardon me, but I see no corresponding in any of the governing party leaders at this point of time. They are simply too reactive and slow in reacting to persisting issues regardless of whether it is political, social or economy. The portray of Dr. M is truly deep inside the mind of the common. Do we still need Dr. M .. literally? No I say. He is way passed his retirement age, give him a break. We DO need someone who is visionary and with inviolatable ruling direction that give pressures to external forces rather than pushing the limit on his own people.

Ok, back to YTL Power. The intention to raise gas, electricity and petrol tariffs is here for sure. Since the price pressure will be passed back to back to consumer, no significant negative material impacts to YTL Power earning shall be foreseen. Earnings from Wessex UK will be increased in next few quarters given the changes in their tariff.

What I'm more interested in still the same old questions: When the shopping will begin? Acquisitions are imminent.

I reiterated my estimate towards YTL Power fair price at RM3 in 3 month time.

Wa have warned you now, Don't get Shocked when We do it later.

What he really tried to say is that the government certainly would not implement any actions that have negative impacts to the people’s CONTRIBUTION to the national money making cow, aka TNB. In another perspective, Petronas's contribution to the government will be magnified by a few order when it tunneled through the shallow pocket of the PEOPLE before getting back into the hand of the government and selected few.

I have no issue paying my petrol consumption at reasonable market price, but the transparency of the resulting savings whereabouts is what concerns me.

Let me summarize the article in my own words:

"Gas, Petroleum and Energy tariffs are FOR SURE going to be increased. We are going to squeeze people's money for the sake of increasing the financial outlook of our beloved GLC companies and thus foster the financial strength of our political parties, which in turn selectively creating more wealthly fellows in our nation.

There is no schedule on when all these plans will kick off, but I can only pledged you to get ready for it when the time comes. "

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No Timeline To Review Fuel Subsidies, Says DPM


By Tham Choy Lin

HONG KONG, Nov 30 (Bernama) -- Deputy Prime Minister Datuk Seri Najib Tun Razak said today any review of gas and petroleum subsidies by Malaysia must not impact adversely on the people and national power supplier Tenaga Nasional Bhd (TNB).

"We do not want the people to be overburdened with any review of the price of gas and petroleum products but at same time, we are mindful not to undermine the market worth of strategic companies like TNB," he told a news conference after spending the day meeting global fund managers.

Najib said there is no timeline for a review but if it takes place, it will be made concurrently with a tariff review.

Malaysia's policy on gas and petroleum subsidies was raised by the fund managers who were also interested in Malaysia's economic direction, market liquidity and Islamic banking, he said.

He said the fund managers had noted the reforms and also measures by the government to generate more liquidity in the market, and he referred to today's listing of Sime Darby on Bursa Malaysia as "successful, beyond our expectations."

The debut of Sime Darby with a 26 percent premium came as Najib kicked off the second leg of an international investment roadshow in this international financial centre where he met about 50 portfolio and asset managers.

Najib said Malaysia's economy, which reported a 6.7 percent third quarter growth this week, has become more resilient and diversified to better weather external shocks, thanks to structural reforms taken over the past three years.

And he expected the pace of growth to remain on track in the final quarter to meet Malaysia's target of 6 percent growth this year with a low inflation rate of up to 2 percent.

"There is enough momentum in the domestic economy, consumption and investment flows are strong, the prices of commodities are also strong. Even in the event of a downturn in the global economy, the impact will be slight and it will not be as great as compared to a few years ago," he said.

On the level of interest in Malaysia's new economic corridors, the Deputy Prime Minister said the investors wanted to size up developments on the ground first, especially at the Iskandar Development Region in southern Johor.

"This is only the beginning and it will take time. We expect by the middle of next year to see quite significant development on the ground for them to see and to address sceptics," Najib said.

Najib began the day over breakfast with more than a dozen international fund managers and held discussions with five more groups of investors during the day.

He met key officials and portfolio managers from funds such as ABN Amro Asset Management, Capital International Research Inc, HSBC Halbis Partners (Hong Kong) Ltd, ING Investment Management, Merrill Lynch, Morgan Stanley, JP Morgan, Blackrock, Invesco, AIG and RBC Investment Management.

Another participant was Bank for International Settlements head of treasury for Asia Pacific, Miranda Tam.

His high-profile delegation includes Second Finance Minister Tan Sri Nor Mohamed Yakcop, Bank Negara Malaysia assistant governor Lillian Leong, Khazanah Nasional Bhd managing director Datuk Azman Mokhtar and Securities Commission executive director for issues and investment Datuk Kris Azman Abdullah.

-- BERNAMA

V for Vendetta AND M For Malaysia : Past, Present & Future

Well, I just don't quite agree with the author implicit association between Malaysia PM and the villain in the movie.I don't see our PM got that kind of charisma. Maybe the Deputy PM is the actual evil root behind.

Hey Shortie, Get a Lesson on Cabinet Manner