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Saturday, 24 July 2010

Same external forces, different outcomes


Just a short interval from the series of articles on Malay mental landscapes.
The depressing piece of news last week, was when the PM acknowledged that we may not get to be a first world country by 2020. We won't because, the world is in recession and we can't grow more than 6%. A few days ago, came report that in 2009, we lost almost all the FDI. Investors are not coming to Malaysia.
Yet we are also informed that apart from China and India, we increased our trade balances. we export more than we import. But how come we suffer decreasing foreign exchange reserves. I thought, it was a practice by MOF sometime ago, to ask BNM to furnish trade balance reconciliations. Within six months of exporting, exporters have to furnish BNM with export earning details. Where did exporters money go or something like that. If you export RM 100 million worth, has the equivalent of that RM 100 million come back?
What happens if only a small portion or all didn't come back? That could only mean, exporters are not bringing back their earned money. They are investing elsewhere.
If they do, what has made Malaysia a discarded home?


  1. We can't get to be a high income country.


  2. We lost FDI.


  3. Exporters are not bringing back money into this country?
Something must b rotten in the state of Denmark, err, Malaysia.
Another country down south, facing the same external economic threats and problems, achieved different results. The Singapore government Wednesday upgraded its 2010 economic growth forecast to a blistering 13 to 15 per cent, outstripping estimates for China.
Robust demand for its manufactured exports, particularly biomedical products, resulted in the sharp upgrade from the earlier estimate of 7.0 to 9.0 percent growth in gross domestic product (GDP).
We have two countries located in the very same locality separated only a century old bridge, performing differently. If both face the same external environment, the difference in performance can only be attributed to internal forces.

46 comments:

a.z 24 July 2010 at 07:39  

Macam mana ni Dato', sekejap kata bagus,sekejap kata tak bagus.

The gov. can't seem to get anything right at the moment.

Look at Iskandar, nothing but a typical real estate development so far.

What new sectors of growth has this Gov. promoted in the last 5-10years?

The South Korean Gov. 10 years ago declared it will put money to make them No.1 in LCD/LED display technology, look where they are now..

No more slogan and buzzword please...action and tangible results is what we want.

Pak Zawi 24 July 2010 at 07:53  

Dato',
The difference is in the spotlessly clean leadership, exuding confidence among foreign investors, almost zero corruption and wastage. Would you bring your money back if you see the opposite is the case back home?
BNM tweaked on their figures to make it presentable.

kluangman 24 July 2010 at 07:54  

Dari segi pandangan mata kasar rakyat tentang ekonomi ialah kalau laki bini, adik beradik, saudara mara, jiran sekampong hidup tidak pernah tenteram, bergaduh siang malam, maki hamun, tuduh menuduh, menyamun dan berebut harta mana mungkin 'perniagaan' dan rezeki dapat dijalankan dengan baik dan diberkati.

Manamungkin kita mendapat perniagaan dan ahli kongsi baru.

Pentadbiran Najib yang lemah termasuk kebocoran masa lalu dan pembaziran semasa serta tidak ketinggalan parti pembangkang dengan politik gampang mereka yang berterusan turut menyumbang kepada ekonomi yang suram

Dan yang paling malang, kecelaruan dan ketidaktentuan ini belum menampakkan tanda2 ada kebijaksanaan di pihak Najib untuk mereda dan mengurangkannya malah semakin dekat dengan PRU13, suuasana diramalkan menjadi lebih ribut.

Anonymous,  24 July 2010 at 08:36  

We are going down, down, down.

Anonymous,  24 July 2010 at 08:37  

let them.. kan depa pandai.. buat janji tak pernah tepati. Hidup macam munafik, pegawai 'kera'jaan dia pun sama. Sekarang nak bagi rasuah cara baru la pulak, gunakan MACC untuk rasuah rakyat marhaen... hehehe... memang pandai, anyway bagus juga rakyat yang "dipaksa" menyewa dari orang2 kaya 'kera'jaan ni dapat hak mereka semula, anyway pada aku itu satu bentuk rasuah, walaupun atas dasar menjalankan tugas, sebab benda2 macam ini sepatutnya telah lama diselesaikan, baru ni kes penan la pula hehehe... rasuah moden ekss .... atas nama bantu rakyat, let see... siapa dia nak dakwa... sebelum ni dengarnya 120 ribu kena istihar muflis, tapi satu nama habuk pun takde... sembang saja lebih...

Anonymous,  24 July 2010 at 08:46  

Dato,

Been back to bolihland to finalise a few tranctions & read this latest piece of yrs....

BTW, I'm not running away it's just that there r many depend on my efforts for their roof&foods. It's a duty call!

What u've described has been known to us, within the business circle, for quite sometime now.

The Bank Negara has been playing statistic, though unwilling, to please the masters.

The MSM has been told to report only the news that the masters wanted to hear, whether economically & politically.

Then there r those Class 3& 4 pejuangan bangsa, agitating for a piece of fame.

Dato, please tell me u DO see a slim HOPE for M'sia under the present govt under the current time frame & governance.

For me, I dont!

Even if the Barisan Rakyat becomes the new govt, comes 2011 (our guess), there will still be untold sufferings for the rakyat to adjust to the reality of the REAL world.

It will be Greece actII in bolihland!

One just CANNOT suddenly tweak into a new mode when the protective tempurung is been demolished. It takes time to adjust.

Can the rakyat adjust - after the euphoria of the BN's defeat subsidied?

Do they realise & prepare to face the new challenges, meaning a period of hardship, to reset & reboot the M'sian SOPO & economic scenes, due to years of abuse?

My guess is some will, BUT majority WONT & will be ululated to gone back to the 'GOOD OLD DAYS" of BN.

What will that lead to? That's a million dollars question?

hishamh 24 July 2010 at 08:51  

Dato, with respect to why international reserves are not increasing, I did a detailed explanation for Wenger the other day.

The short answer is because we no longer operate a fixed exchange rate regime, and because BNM is not artifically depressing the Ringgit exchange rate, reserves are now independent from trade and capital flows.

Anonymous,  24 July 2010 at 09:04  

Dato'

Say what you may about the deterioration in productivity and financial clout...

DS Najib is spending like there's no end to prosperity and promising to spend more....

Let's Guess that he doesn't intend to leave anything in the coffer on his way out!!






Joe Black

Anonymous,  24 July 2010 at 09:11  

Kluangman,
..ketika ribut, apa perniagaan yang kita boleh buat? jual kacang putih kot...

Anonymous,  24 July 2010 at 09:39  

The answer is very simple, Dato'. Investors, foreign or local, lack confidence in the govt of the day and its institutions. Period.

-MAKORANG-

Anonymous,  24 July 2010 at 11:01  

Dato, kalau Umno ada si bahalol macam Ahmad Maslan, akan bertambahlah meluat ahli Umno dan org Melayu dengan parti keramat ni.
Rata-rata orang Melayu sayang Umno dari zaman dato-nenek-moyang mereka lagi tetapi pemimpin2 korup dan bangang macam yang ada hari ini buat mereka meluat dan marah kepada parti.
Orang Melayu amat menyayangi dan cinta kepada Umno dan tidak perlu kepada pemimpin rasuah yang pentingkan tembolok anak-bini-kroni mereka sahaja.
Sejarah orang Melayu pecah-belah masuk Pas, Gerakan, Semangat 46, Keadilan dan sekarang tubuh Perkasa sebab pemimpin dan kroni mereka tolak Al Quran dan Sunnah serta lupa akan perjuangan dato nenek moyang kita menentang penjajah untuk mencapai kemerdekaan.
Lagu dan bendera Umno tidak bermakna lagi didalam hati sanubari orang Melayu kerana majoriti masyarakat kita sudah terlalu menderita dengan penipuan dan retorik pemimpin Umno/Melayu hari ini.

PENCINTA UMNO YANG REMOK HATINYA

Non-partisan,  24 July 2010 at 11:05  

Dato',

Are we all this while being hoodwinked or misled as regards the true state of health of our country's economy?

If I'm not mistaken I did read somewhere not so long ago how positive it was the inflow of FDI into Malaysia including the much touted Iskandar.

Now coupled with so many craps unearthed is our future seriously threatened?

Is Najib doing anything?

Ir. Hanafi Ali 24 July 2010 at 11:47  

Singapore Chinese (and Mainland China Chinese) has come a long way since the 50s.

From 50s to 80s, China was one big fucked-up place. But they evolved, and now close to becoming America's headache.

Singapore? They evolved, too, far faster than Malaysia, or unlike Malaysia, which has failed to evolved but instead de-evolved. I will say this with a straight face that Chinese (of any geographical locations) *were* mostly racists. But they evolved. And Singaporean Chinese has evolved to become more accommodating to non-Chinese. They treat non-Chinese (like Malays) with respect. You can get halal food in military mess throughout all Singapore military installations. Is this not respect when comparatively you will not get vegetarian food for vegetarian soldiers or non-beef eating (Hindu soldiers) in Malaysia?

Over the years Singapore has evolved to become a more civilized society. Yes they controlled the media and whatnot, but so does Malaysia in terms of media control. Same method, different outcomes. Media control in Malaysia is to hide the riches of the ruling elite, in Singapore it is to keep calm and harmony among the races.

Chinese can be arrogant, rude or even boisterous. But they are also industrious, do a lot of philanthropy (Chinese vernacular schools are supported mostly by Chinese themselves! No need government donation most of the time).

donplaypuks® 24 July 2010 at 12:08  

Hi Hisham

I repeat I'm no economist whatsoever.

But all things being equal, the strenthening ringgit vs US$ should see an increase in our reserves?

Also, given the mini recession in 2008/09,is it possible M'sia companies are now spending more than earning, on capex and stocking up (from a cash flow point of view) for anticipated increase in export orders?

dpp
we are all of 1 race, the Human Race

Anonymous,  24 July 2010 at 12:14  

Because one country shuns corruption and the other embraces corruption.

Anonymous,  24 July 2010 at 12:23  

For as long as UMNO/BN holds power and Najib is the PM, there is no hope for the country. Let us vote for change.PM himself carries a lot of baggage. How do you expect him to undertake real reform? Sorry, he is not capable of doing the right thing.

Dato, if there is a change in the government, would it be worst than the current situation? Look at Selangor and also Penang under LGE, has it become worst? Has the Malays suffer? It is only worst to the UMNO warlords as it is now difficult for them to steal the money anymore.

They are so use to easy money through patronage that once the supply is cut, they will die, They simply refused to use their brains and hard work to earn an honest and sustainable living like the Chinese.

Like Aspan said, ayam daging kalau tak di bagi makan, dia akan mati. Ayam kampung boleh cari makan sendiri. Tak ada hal. Macamlah Melayu tak ada otak. Inilah budaya UMNO Baru yang dimulakan oleh TDM dari tahun 1988 dan amat sukar untuk diubah sebab semuanya sudah terlibat. Dari President sampai ke ketua cawangan. Semuanya mendahulukan diri sendiri, kaum kerabat dan kroni masing-masing. Mana ada Rakyat di dahulukan? Jangan ada sesiapa nak nafi. Ini hakikat yang sebenar. Sesiapa yang celik dan ada intelek sikit akan mengakuinya melainkan mereka yang cari makan melalui patronage dengan UMNO.

Yes, it will be worst if a change in govt takes place. But it will be worst to those UMNO warlords and cronies only. Not to the majority of the population,including the Malays, and the country. If there is no real change, there is no hope. So readers, if you care for yourself, your children and your future generation, then you should know what to do in the next GE.

SIdeline,  24 July 2010 at 12:47  

Alah Dato takkan tak tahu pulak. Mungkin rakyat atau negara bertambah miskin tapi golongan elitis Malaysia akan mencapai status orang kaya bertaraf negara maju. Itukan KPI orang kaya.

Tenguk jelah orang Malaysia pun dah pandai "rubbing shoulder" dengan orang Hollywood. Dengar kata ada superstar Hollywood nak datang Malaysia atas jemputan. Ke dah datang? Nak mengenali Malaysia katanya. Takkan orang taraf superstar datang nak kawan atau mengenal orang biasa2 saja. Let be real.

Yang nyata orang kelas pertengahan bertambah kurang. Kena lah bersiap2 untuk menghadapi zaman kesusahan. Itu pun kalau sempat ke PR13.

Anonymous,  24 July 2010 at 13:16  

Dear Dato,

As I said before, you will have lots and lots more of bad news in future. Obvious a person of your intellect you know the answers but unable to mention it for obvious reasons.

If you study our history, the downward spiral happened very soon after Singapore left Malaysia and the soon after implementation of the NEP. Back then, we did have lots of extra fats to cushion away from the hardships facing we Malaysians now.

Back then, there was a dearth of good areas to invest in South East Asia. Cheap China and Vietnam were closed. Malaysia and Singapore were two heavens.

Even in spite of that, Malaysia lost out to tiny little red dot with nothing other than Lee Kuan Yew's leaderships. The rest are the same. They have good Chinese businessmen, we too have them.

They prospered we floundered as our own home grown Chinese busineses were put on back burner for the sake of NEP(with lots of leakages) while Singapore put and nurtured their golden goose.

We now see the difference. Today the Chinese of Malaysia is nowhere compared to overseas Chinese ... as a Malaysian Chinese I know. WE would get clobbered left right top and bottom by Chinese from Singapore, China , HK or Taiwan. We have been rated bottom.

Now as we all know we can talk, talk and talk about NEM but even without implementation, our guys are talking about able to be world leaders?

Come on, even if there is not going to be any recession coming from EU, can anyone tell us on what basis we can be world leaders economically? Just look at practically everything from Judicial, crime rates, drop of confidence by investors, locals are eyeing overseas etc etc , how the cows we can even dare to think we can be world class? We do we have? Petronas Twin Towers?

Get used to it. WE as a nation has failed and the choo choo train is speeding too fast for anyone to stop it, even if we apply the brakes now and reverse ourselves to high income nation initiatives.

Right now almost everything we know of is anti high income nation. The worse are the Little Napoleans. Just look how depicable these guys are and even if NEM is accepted, the "Little Napoleans" ain't going to accept it. With these guys around, do you think any rational local and foreign investor want to invest.

I for one, will NEVER DO ANY business that require a licence in Malaysia. I woudl venture into abusiness that does not depend on the whims and fancies of those "little Napoleans". So foreign investors would do the same. Facts speak for themselves what is happening.


The entire and mindsets of community and systems have been too entrenched to change.

Notice everyone is talking, talking and talking and expect the world to change and we become a high income nation. Huh?

Hey, this only exists in dreams not in the real world.

As for many of us(non bumis), we are starting to look outward globally and treat Malaysia as just one of the many countries we can do business in.

The world is our country and our sources of income. Fortunately this is the world of Internet. We can do it and we are doing it.

The funny part is, if many of us are to succeed and become global companies, should we bring back our wealth to Malaysia? Would such actions make Ibrahim Ali's target of 67% ownership by the likes of him fail? It may shrink to 1% and what happens?

Still scratching our heads on this.

Habib RAK 24 July 2010 at 13:28  

What problem? Najib had a birthday bash yesterday at his newly renovated Sri Perdana. Rosmah had Robert D Niro for entertainment. All is well and dandy. Ada problem ka?

Red Alfa 24 July 2010 at 13:37  

Salam Dato'

This is like CNN's Breaking News, interrupting normal program to tell that needs telling!!

This is what Malaysia needs now, unvarnished truths of the results of the wholesale and rampant corruption, not inducted/ prosecuted crimes against breaches of peoples' trust, etc.

The Melayu Bangsats in UMNO have been cheating/khianat in our name - Bangsa Melayu and Islam. The MSMs are in complicity but not you, no, not you! And so must not everybody who knows a lot more of such goings on.

Please everyone!! Expose what the Govt. through the OSA and the likes are preventing the people to know the monstrosity the Govt. in the name of our bangsa and ugama has become.

And if the people now knowing this and in full knowledge still supporting in all their full denial modes and excuses MUST know that this is in subahat and may Allah SWT damn them in eternity together with those who are doing the corruption and destruction! And I pray they deserve in equal and full measure of Allah's damnation! For if not for their blind support, the Melayu Bangsats in UMNO would not have gone this far that Malaysia (we?) will be IF NOT ALREADY in dire straits.

nstman,  24 July 2010 at 15:01  

Sak, I am not into Malay-bashing but I am telling the truth. The truth if of course unpalatable to Perkasa and get-rich-quick Umno followers. The truth is, Umno still wants Malays to work less for more. Umno wants Malays to take the easy way out. Umno wants Malays to forever rely on the Umno crutch. The NEP is like a drug. You need it. Withdrawal symptoms are unthinkable. Well that's the truth, and of course, I dont expect Malays to like it either. We have lost our competitiveness. Investors get better returns from other countries. Investors dont have to pay Umno cronies protection money.

Anonymous,  24 July 2010 at 16:24  

No matter what positive steps we do now, it still takes time to stop the runaway choo choo train from stopping to the distination of a failed state.

It is one thing, to talk, talk and talk (meanwhile backtrack when Ibrahim Alis ... shouted back).
It is another to into action what little chance the genuine NEM be put into practice.... because the "Little Napoleans" that has flooded every sector of the country with one 50 years of ingrained mindset... Ketuanans.

No, from our point of view, let us start looking and be global. Let us forget about trying to better this country and be frustrated.

Let us begin by taking the globe as our country. Where we earn the money does not matter. Most important as individuals we make our living and contribute to the world (not only Malaysia).

Outside the country, there is no Ibrahim Alis to dampen our drive to be better. Surely who wants to work, work, and take risk for 33% of our returns(67% for Ibrahims)

Stupid dont you think. Already 30% the foreign and local investors are saying no .. for 50 years.
Now with so many other countries to look to invest, we locals too would love to look for greener pastures without the dampeners and rubbish we get everyday without fail.

If Malaysia becomes another Philippines or Indonesia, imagine the double whammy of goodies having invested overseas.... high returns for cheap Malaysian foods (like Indonesia is right now)

So those who migrated and work overseas now in high income countries would one day be sending high value dollars to buy cheap Malaysian services for their parents. Their kins do not have to work as hard as others (locals) who may even have to send their daughters to work as maids to bring in hard currencies(after all no investments ,FDIs, no new factories .. means no local jobs.)

If Ibrahim achieves his 67%, just wonder if there are many non Malay factories or businesses left to help employ all those hundreds of thousands of graduates from UITM to UM.

Cheers .. it is too late.

Anonymous,  24 July 2010 at 17:17  

who cares??? does somalia care? does zimbawbe care? so why should we?
we have devils and crosses on jerseys to worry about...he he he

Anonymous,  24 July 2010 at 18:33  

Dato, now do you see whats wrong with UMNO and it's leaders? They are bent on holding on to power at any cost, yes, any cost. They are not at all interested in the good of the country and the welfare of it's people. They are doing things to ensure that they stay in power beyond 2013. The way the UMNO leadership is spending money to gain support will DEFINITELY bankrupt the country. Does he care if our children end up as maids in 10 years to come. NO. They are not the least bothered. Don't you deny that our country is going to end as one of the maid suppliers soon.Doesn't this scare you UMNO guys a bit. If not yours but your children or their children are sure going to end up there if this is the way the UMNO goons keep on shaking the country.
What UMNO Penang and Selangor is doing is very wrong. What the civil service leader is doing is wrong. Just because he hails from Chengal Lempong and feels that he has got to carry the BN political leaders is very wrong. These are the reasons we are losing not only foeign direct investment but also the locals are taking flight with their capital. UMNO FOLLOWERS PLEASE OPEN YOUR EYES.

Anonymous,  24 July 2010 at 18:38  

Dato Sak',

The differences between 1Malaysia and the little red dot down south are pretty obvious. 1Malaysia government is in self denial, pays only lip service and practices and promotes mediocracy while the government of little red dot down south pulls no punches in raising the bar of meritocracy in everything it does.

If you are a foreign investor, which country will you pick to invest your money? No prizes for guessing right.

Anonymous,  24 July 2010 at 20:40  

i just dont have the confidence that this regime can bring us out of the big hole. look at how they discard the laws just to recapture the back door. they have lost all respect for the law and constitution. look at the extensive corruption. mind you, i have "seen" how it works, the collusion of the businessmen with the politicians to rob this country blind.

dato', its real sad for this lovely country to descend to such lows.

hishamh 24 July 2010 at 20:42  

@donplaypuks,

It works like this:

1. Under a fixed exchange rate regime, trade and capital inflows put upward pressure on the exchange rate. This requires central bank intervention to maintain the exchange rate level, which leads to higher international reserves. The opposite happens with capital outflows.

2. Under a free floating exchange rate regime, trade and capital inflows (outflows) cause appreciation (depreciation) in the exchange rate. If there is no intervention, there is no change in international reserves.

3. Under a "dirty" floating exchange rate regime, changes in reserves reflect central bank intervention to push down (reserves+) or push up (reserves-) the exchange rate.

The current regime is primarily (2) with occasional recourse to (3) when the Ringgit is under pressure, either up or down.

walla 24 July 2010 at 21:49  

Overlooking the old immigration checkpoint at Johor Baru is a pedestrian bridge. If you stand on it and look down in the morning, you can see thousands crossing into Singapore and none crossing into Malaysia.

That is the clearest visual confirmation anyone can get that something is wrong this side.

After all we have everything they don't - land, resources, people.

What they have succeeded in doing while we were lapping it up on polemics was to stay focus on how to be relevant to the world, raise the bar on standards, attract the best talents, work smart and maintain clean efficient government.

Sure, they have had to pay a price for their regimented approach. But if even their Malay taxi-driver can laugh at our Malays while saying confidently he can compete with his Chinese citizens without the need for crutches, what does that tell of the Singapore Malay mindset?

This is an important question because there is something common between both countries which remains a challenge. It is income inequality. But the difference is that the Singapore Malay feels he can achieve on his own without comparing with his Singapore Chinese counterparts while too many of the Malaysian Malays appear to have been let to believe that they need help first because the Malaysian Chinese seem to be better off.

If both countries were one before from the same umbilical cord, why this difference in mindset?

If we say that it's because Singapore has more economic resilience and global opportunities at their doorstep than Malaysia, then we must ask why. What are Singapore's key success factors that cannot be Malaysia's for the difference of a one mile concrete causeway?

Since we already know the answers, it is better not to belabour them. After all, if the mere mention of them can cause anxious anger this side, it goes to show how far from reality we have brainwashed ourselves to deny.

There's nothing that Singapore can do that we can't if we adopt the same practices and pragmatism they have shown.

After all, half of them are from here.

walla 24 July 2010 at 22:13  

2/2

Looking ahead, i am pretty concerned with what's ahead for us.

Basically we have lost our attractiveness and competitiveness in all industries. In the case of plantations, we shot ourselves in the foot by a blanket freeze on foreign workers so much so we have lost twenty percent of the harvest for oil palms. Now the same problem is happening in the furniture industry which has to turn away orders. When buyers get that sort of response, they will just not come calling again. And the only response from the government is to say they will call a multiple-agency meeting to find out. Mind me, the next will be our garments and gloves industries, and then what's left of our construction and home-worker sectors.

Surely an automation policy can be more circumspectly promoted without killing off those sectors which will remain labour-intensive for a longer period. What is automation for such sectors are actually things like use of e-commerce, kanban JIT and Kata, CRM, TRIZ etc. Each of these labour-intensive sectors is actually a microcosm of mini-singapore in motion - leveraging smarts at the top to move heavy masses at the bottom while targeting niches across the globe at quark speed response rates based on information-intensive market opportunity assessments. There, i have said it succinctly for you.

Which comes to other differences between us and the dot. The dot is proactive to programs and hyper-responsive to change. We are reactive to programs and sub-responsive to change. They have people who ask the right questions at the right time, get up and force change. We have people who ask when is tea-time, get up and come back only when it is time to go home. They care and don't give up. We don't give a damn and have already given up. They are ashamed to ask for more before doing, we can't wait to demand with a straight face without even lifting a finger.

In the end they are the ones who will be managing the cross-border projects and investments while we will be the ones sitting at the end of the table nodding our heads in semi-comatose agreement.

Since they came from us, it must be because of our policies and practices here which are causing the difference. The sky is the same whether it is the plot of land of the Malay kedahan or his Chinese neighbour's adjacent plot or the Malaysian's or the Singaporean's.

Right now, Indonesia is up, the action is in East-Asia and South-Asia, and the other Asean economies are also learning fast. If we remain stationery, they will learn up as much as what we hold now. Since they are emerging as we were before, they will catch up and surpass us if we don't improve ourselves quickly.

But if we have actually slided down in so many areas in the last thirty years, we need to first catch up to where we should have been in order to propel ahead of others before they surpass us.

How? Looking at the juvenile activities run by Umno, it's as though they have already given up and just going through the motions. They should be setting precise individual targets and standards and using best motivation techniques, not waste time running amok on absurd purchases and spendings that will come back to bite everyone soon enough.

And they need to face up to reality, or reality will catch up on them.

Looking at our national financials, it already has.

Anonymous,  24 July 2010 at 22:58  

Is a public knowledge that investing in Malaysia involves a lot of "additional costs " compare to other neighboring nations.

So why should foreign investors come and invest in Malaysia?

Anonymous,  25 July 2010 at 06:40  

...and the "Jello boy" is making tons of money. Yippee.

Dato,

Ada orang kata, UMNO/BN sekarang dah tak "action" and can win big in election..boleh percaya ka???

msleepyhead,  25 July 2010 at 08:45  

Dato',

Your last line revealed that this article is still linked to the Malay mental landscapes series -

"If both face the same external environment, the difference in performance can only be attributed to internal forces."

The best example is actually right here on our own tanahair. The Malays are relatively more successful as a group of people than the Orang Asli. While the Malay kingdom of Malacca flourished, prospered and came to an unexpected end, the Orang Asli remained the same. Heck, maybe not much has changed for even today.

If we can find out the underlying reasons behind the relative 'success' of the Malays to the Orang Asli, we will probably answer your mental landscape questions? Something historians and socio-anthropologists all over the world are asking.

flyer168 25 July 2010 at 08:50  

Dato',

Just to share this...

# 1 The Prediction Trend - # 04:56 - 05 Feb 2010 Gerald Celente On The Coming War And Financial Collapse: - http://www.2012-doomsday-predictions.com/6547/gerald-celente-on-the-coming-war-and-financial-collapse-05-feb-2010/

# 2 The Trend Alert # 11:19 - September 16, 2009 Gerald Celente -Trend Alert Video: Revolution next for U.S :– http://www.youtube.com/watch?v=JhaEc_4zuFI&feature=player_embedded#!

Gerald Celente – the most trusted name in trends – sits down for an exclusive interview with RT’s Anastasia Churkina to talk about what the future holds for America during and after the Great Recession, gives advice to Obama, and forecasts the unexpected.

# 3 The Happening & More to come - # 11:09 - January 12, 2010 Celente on 2010: Wave of Terror, Internet revolt & War on migration - http://www.youtube.com/watch?v=rEZXLwAAur0&feature=channel

February 06, 2010 Ron Paul warns Americans of coming economic collapse and possible martial law - http://www.youtube.com/watch?v=EnRCz2Dcd_A&NR=1

Ron Paul warns of a monetary collapse and ensuing social unrest. He also warns of possible government actions.

Finally, to share this...to understand the "Big Picture"

When Central Banks Rule the World - Pt.1 – 09:59 - http://www.youtube.com/watch?v=Bk1xao6mvjc
December 08, 2009
Up until September 1994, Joan Veon was just a businesswoman. As a result of attending the United Nations Conference on Population and Development in Cairo, Egypt, she received her wake up call as she found there was more going on at the global level than most Americans knew, understood or were being told.

Continue with Pt 2 to Pt 9 for the Financial "Geeks"...

You be the judge.

Cheers.

Tpg2Sg 25 July 2010 at 11:28  

This is the story fr my Japanese MNC customer in Johor. This Japanese facotry is producing mobilephone for US market. Few years back, their mobilephone cargo worth few million RM was hijacked while on the way to port for export. It was never found again.

Few months after the incident, Msia’s Trade Minister visited Johor, the Japaneses MD brought up this incident but the minister reply was; my customer should consider hire security gaurd with gun to escort the cargo.

What a joke!

schenker78 25 July 2010 at 13:40  

driving in the night in cheras batu 9, batu 11 area under darknesss... MPK not replacing the street light bulbs.

Why should we pay assessment when simple things also Majlis Perbanadaran Kajang not doing. Tired of this. We want local gov election....

flyer168 25 July 2010 at 14:45  

Dato',

Just to share this...

Hawkeye: Singapore and Malaysia
24 Jun 2010 ...
hawkeyejack.blogspot.com/2010/06/singapore-and-malaysia.html - Cached

Singapore to be World Fastest Growing Economy in 2. .... The Boston Consulting Group, one of the leading global management ...

You be the judge.

Cheers.

flyer168 25 July 2010 at 15:22  

Addendum...

Malaysia Borrowing Money For Fun... http://hawkeyejack.blogspot.com/2010/06/malaysia-borrowing-money-for-fun.html

Malaysian so called sovereign funds has been borrowing lots of money through the issuing of islamic bonds.

The correct definition should be "Sovereign Borrowed Funds" as their funds are all borrowed and unlike other real sovereign funds who invest with their real savings and profits.

Another report from Bloomberg states that Malaysia’s state investment agency may raise as much as S$500 million (USD$353 million) selling Singapore dollar-denominated Islamic bonds to help fund its offer to double its stake in hospital operator Parkway Holdings Ltd., according to two people familiar with the plan. The sale may take place as soon as this month, according to one of them, who declined to be identified because the discussions are private.

Singapore dollar of S$500 million is equivalent to about RM1.2 billion. Aiyah.. No money don't invest lah what for need to borrow to invest?

Ahmed Salem Group, Khazanah, Maju, Cagamas: Islamic Bond Alert
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aH4jJIR3m8R8

By Soraya Permatasari - June 7, 2010 21:26 EDT
June 8 (Bloomberg) -- The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.

Global sales of so-called sukuk increased to $20.2 billion last year from $14.1 billion in 2008, according to data compiled by Bloomberg. They climbed 10 percent to $6.1 billion so far this year.

KHAZANAH NASIONAL BHD.: Malaysia’s state investment agency may raise as much as S$500 million ($353 million) selling Singapore dollar-denominated Islamic bonds to help fund its offer to double its stake in hospital operator Parkway Holdings Ltd., according to two people familiar with the plan. The sale may take place as soon as this month, according to one of them, who declined to be identified because the discussions are private.

MAJU EXPRESSWAY SDN.: The Malaysian toll-road operator plans to sell as much as 550 million ringgit ($166 million) of Islamic bonds, according to a term sheet sent to investors. CIMB Investment Bank Bhd. is the lead arranger for the Islamic Medium Term Notes, which will be a Musyakarah structure, according to the document. The company will use the proceeds to refinance debt and for working capital.

CAGAMAS BHD.: The Malaysian national mortgage company plans to sell as much as 10 billion ringgit ($3.1 billion) of a new type of Islamic bond that would be acceptable to investors in the Middle East, said Chief Executive Officer Steven Choy. Cagamas is developing the new sukuk with Saudi’s Al-Rajhi Bank, which will subscribe to some of the notes to be issued this month, he said.

MALAYSIA AIRPORTS HOLDINGS BHD.: The state-controlled airport operator may sell ringgit- or dollar-denominated bonds to meet its funding needs, it said. Malaysia Airports may sell 1 billion ringgit of sukuk and $500 million of conventional bonds to fund its second low-cost airport project near Kuala Lumpur, according to Reuters. It hired CIMB Group Holdings Bhd. and Citigroup Inc. for the sale, the report said....

You be the judge.

Cheers.

Anonymous,  25 July 2010 at 21:05  

Dato, you know, I know, and many many more malays and chinese know we the people have no problem among us. We have lived with each other harmoniously for decades. There was never a problem. The problem started the day when the prostitutes were born in great numbers in this country. These prostitutes are no other then the politicians whether malay, chinese or Indians.
One thing I realize, UMNO since the days of DR.M have gone corporate and till today there is no turning back. The country's wealth has been sucked by these UMNO people leaving crumbs to the the coming generations. I feel ashamed that as muslims, leaders of UMNO has shown worst attitude compared to the non muslims. They have not shy ed from doing things that are against the will of Allah. They maybe wearing 'songkok's and 'ketayap's and attending Nuzul Quran or other religious functions but they never obey the rule of GOD. Even the basic rules, eg, Justice for the people, they break. Maybe they think Allah is not watching them or mabe they say 'KIV' the God's punishment. What can we say about them.
The most scary part is, country's economy is going down the drain, the number of unemployed graduates are increasing and the number of new employers are dropping. Please tell your UMNO members to get ready to fall in line with other maid supplying countries.

schenker78 26 July 2010 at 00:00  

Najib,

we are telling you. If you go ahead with MRT project for 50billion++, we will sack your government for a long time to come. Stop wasting your 'fathers money' on us.

Improve rapidkl, lrt, komuter and star lrt before do anything else

Anonymous,  26 July 2010 at 02:09  

Dear Sir

You've preached about saving the Malay. Sadly, it was UMNO that's destroying our beloved country and Malay race. In my opinion, UMNO is a dirty word now. We used to have leader like Tun Dr. Ismail but now we've a bunch of dumb and corrupt leader that's in the federal government. What happen to PKFZ corrupt case? What happen to the "Sungai Besi Air Base" open tender? Greed is destroying the country! Reading the report by Tony Pua, it's definitely very depressing for Malaysian of all walks of life. May God/Allah/Buddha/etc save us!

salam
Anak Malaysia

Anonymous,  26 July 2010 at 07:05  

Dato
Day by day, the worrying threat of the falling economy contributing to this failing nation is eating up people who know whats going on in this country. What about those makcik/pakcik, pa ngah/ mak ngah's who know nothing about these things. This is where you should fall in. Yes, I hold you responsible for not educating people in these groups. You write so much about UMNO and it's leaders in english language which not only these group don' understand, the local malay grads from Felda's and kampungs are in the same picture too.
If you are sincere, Dato I challenge you to write in bahasa malaysia for these target groups. Maybe then the UMNO leadership will look up on you and give you due recognition that you are looking for.
Dato, you should be telling these target groups that their children and their children's children are falling in line with the maid supplying countries if the UMNO leadership keep on with their present trend of wastages. You have to tell them the state of the country's economy and what UMNO is doing to destroy it further day by day.
Pahang, you tell me what has this state got left. If not for the 'sawit' industry we are dead meat. Anyway, we already dead meat. Oil palm profits are also going the petronas way. "Kayu balak' thats another 'grey' area now. The royals take some, the politicians take some. So, where do you go from here.Look at the Gebeng industrial estate. One cannot see beyond 1998. Thats was where we started and are still there.At this rate, where do you send your young graduates who come out in thousands every year. Isn't this at all worrying you Dato. So, please wake up the general MALAY public. You owe it to them.

Anonymous,  26 July 2010 at 07:49  

You have to put it in proper perpective. Because of the big dfference in per capita, if Malaysia just matches Singapores growth, we are actually still underperforming. To match Singapore's performance, we have to EXCEED it. Because of our lower cost and advantage is energy and commodities, it should NOT be that hard to beat Singapore - i.e, we should not even have to work as hard to beat them.

In the same line of argument because of our advantages and the fact our performance is closer to Cambodia and Myanmar, we are actually doing WORST THEN THEM. WE ARE THE WORST PERFOMER. Yes, we are don't deserve to look at Cambodia and Mynammar straight in the eye and have respect from them. We are the 'sickest man' of South East Asia.

Non-partisan,  26 July 2010 at 11:37  

Walla's argument, particularly when touching on the regimented approach is very pertinent. It's something which Singaporeans have got accustomed to except for some pockets of resistence in the past which were immediately suppressed and nibbed in the bud. The ISA, is one of those instruments applied. In fact it is the ISA which makes what Singapore is to-day. Lee Kuan Yew used to say that.

As rightly inferred by Walla, under that regimented lifestyle the city state continues to prosper, principally the reasons being the leadership is strong, remains focus on things it sets to do and pursues to the end to ensure their ultimate success. And it doesn't completely tolerate any kind of distraction.


Across the Malacca Straits, Indonesia was in turmoils when it was under Habibie, Megawati and Gusdur basically because of the new-found freedom. But any taxi driver you spoke to would have the same dialogue - say what you may about Suharto, life was much better under him.


What about Malaysia for now and years ahead?

I'm not preaching for the kind of regimented approach akin to Singapore and that of Suharto to be applied in Malaysia.

But we badly do need a very strong leader who in no uncertain terms tolerates any nonsense and distractions from any quarters.

Stop lamenting the mistakes of past leaders. Being a leader you're expected and entrusted to correct those mistakes and move ahead. In doing so, do not be too cautious, do not be too calculative or even too afraid of its political repercussions ergo your political survival.

Listen to the right advice.

Anonymous,  26 July 2010 at 15:50  

A tiny spot in comparison with a large spot.

Logic says it isn't the same, even when a similar force is applied to both spots.

You can push a mini out from the street easy, similar man's muscle can't push my hummv.

3.8 million, compare to 22 million. If you earn a dollar, both spots have dif. average earning each person.

That country leverages from 22 million, outsourcing from other 202 million because of historical and geographical advantages.

Stonehenge the second: D

Anonymous,  26 July 2010 at 18:11  

Its not us versus them..until PM came up with the divisive 1Msia concept.
Now,everyone are racists & bigots.

We can't afford this with the economy on a deep long slide.

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