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Sakmongkol ak 47

Tuesday 20 November 2012

55 Years After

Surely after 55 years, we did not come to a stage where our predominant daily routine is to participate in large ceremonies idolizing the PM. Tun Razak would pour scorn and scold on ostentatious ceremonies. During his famous walk-about visits, if there were more than necessary relevant persons receiving him, he would ask have they got no other duties.
The son is however a pale comparison- reveling in adulation and pomp and splendor befitting an aristocrat. Many people mostly from Pekan think of him in demi-god terms. After all is he not the first issue from the loins of the great Tun Razak? What can go wrong?
Many things. Long in power trappings, short in substance for instance. But that is what seems to take place nowadays. Hardly a day passes, where there isn’t a ceremony, gathering or congregation where participants come to ululate and hallelujah our supreme leader Kim Il Najib. Be careful where you sit down. Make sure you don’t sit on newspapers with Najib’s photo there. You can be prosecuted for some obscure offense similar to les mejeste. His minders are overzealous in preserving his pristine and holier than thou image.
Our government departments’ efforts and resources are consumed in planning gatherings and congregating school children, college and university students, heads of schools, government officers and government friendly NGOs to participate in huge love-fest assemblies. In these gatherings and congregations, people sing and point their index fingers uttering 1 Malaysian this and a host of other 1’s. Attendance is of course compulsory. The bonus comes when the Mrs belts out a few songs adorned with all that glitter in the land, purchased from exclusive malls and jewelers. Mrs Lee Hsien Loong looks like a peasant when standing next to heavy set Malaysian 1st Lady. Style mesti ada ma.
Besides that the various municipalities outdo each other is putting up huge billboards with the PM proclaiming this and that. In ancient times, the only other people doing these things were the Pharaohs of Egypt.
Morale in the civil service is low. When T Adnan Mansor the MP for Putrajaya looks at the blank and inscrutable faces of civil servant he meets in Putrajaya, he is not confident of their unqualified support. It is not there anymore. So he says privately- UMNO is kaput. He is not standing as candidate this time around. Meanwhile, in keeping with `good business’ and the inexhaustible UMNO pragmatism, he says BN will win 140 seats and win a 2/3 majority in parliament. That is good for the morale of the supreme leader and the ground troops.
Suddenly Ali Hamza the head of a department more known for passing on the list of government projects to powers that be, bypasses everyone to become the KSN and gets embroiled in controversy immediately by making outrageous politically explicit statements. That’s why we asked him to resign and contest the seat in Putrajaya. He gets his position by being the trusted errand boy for Nor Mohamad Yaakob. Now having secured the coveted position, he has distanced himself from his benefactor because he now has direct access to Mrs PM. So who needs Nor Mohamad anymore? He has one overriding ambition consisting of 2 elements- (1) apple polish the people who matters- the PM, PM’s wife and their confidantes and (2) impose a rule of terror on subordinates.
 The former KSN got the plump job as PETRONAS Chairman prompting the current president to announce he is ready to quit. What does he do? He gives out contracts to the daughter. He has come a long way from being a Kampung boy staring in awe at the rotating blades of the ceiling fan in his hostel dormitory at Ahmad High School in Pekan Pahang.
The sudden entry of Tan Sri Sidek as PETRONAS chairman has unsettled the apple cart. Didn’t he say he did not know what the PM was thinking? He can be excused because no one else knows what the PM is thinking. Having brought someone in from Esso Malaysia to replace him as President, the current PETRONAS CEO has been preparing to get into the Chairman’s job. Suddenly the rug is pulled under his feet, prompting him to blow off his top. He has boldly announced that he is ready to quit as PETRONAS president at any time.  He is not irreplaceable. He has boldly said what other mortals dare not and will certainly rue the consequences.
There must be something fundamentally wrong here. After 55 years we should be celebrating our success in alleviating poverty, in our success in forging people on a united platform of shared ideals and ideas. We should be celebrating the art of governing a people where what matters most is the economic management of the country. Instead what we have is 40% of the population with incomes of less than RM1500 per month. Or nation is more divided along racial and religious lines. We have a government riddled with questionable financial conduct and corruption cases.
najib does not seem to have a clue how to manage the economy other than mouthing empty slogans. How do slogans solve the problem of productivity? Can slogans increase our revenue? How do slogans hide the fact that we have NOT reinvested in building the tools to exploit our oil and gas industry- most of the oil rigs are in need of replacement or extensive refurbishing. That should be a top priority because almost 50% of our revenue comes from the various taxes and dividends from PETRONAS. PETRONAS money has been redirected to bailing out a host of failed businesses and realizing the fantasies of vainglorious leaders. Where has the PETRONAS money gone to?
What Najib does is to give out money. BR1M is Beri Rasuah 1 Malaysia. Perhaps that is why the gargantuan debt is incurred by the government. The government by next year will owe RM503 billion which is almost 55% of our national income. We have not included the more than RM100 billion in contingent liabilities which the government bears. Since 1957 to 2008, the government did not owe money to anyone. Even during the heydays of Daim Zainudin, federal debt has been kept at bay. Starting in 2008, when Pak Lah became the PM, the federal debt was somewhere in the RM 230 billion region. In the 4 years Najib took over the country, the debt was more than doubled to RM 500 billion. This makes Najib the most spendthrift and therefore irresponsible leader of this country. Whose money is he spending?
I find it jaw dropping to hear some government leaders compare our huge debts to economies like Singapore and Japan. In these countries, the people work hard and they have the capacity to repay their debt. Our country shares more similarities like the Greek economy which is a poor country that does not have the capacity to repay its debts.
How do we repay our debts?
I sense something fundamentally wrong in the comment sent by an anonymous reader who asks- who shall protect the Malays if UMNO is vanquished? We can’t rely and depend on DAP. I can give a short answer to that question. If UMNO is vanquished, PAS can protect the Malays since if UMNO loses, it is replaced by PAS which is equally Malay. On what basis does UMNO confer upon itself a monopoly on skills to run a country? If Najib can become PM, anyone else can too. Even Haji Hadi.
UMNO has ruined the country for 55 years so that after 55 years, the only thing we celebrate is engaging in events idolizing the supreme leader and nothing else. We cannot celebrate the state of the economy. We cannot celebrate the success at creating a cohesive society. Because there is none and the main cause for the country drifting apart is UMNO.
The country is kept divided simply because that ensures the government stays in power. We have a former PM who ruled for 22 years saying after 55 years, Malays are beggars in their country prompting us to ask validly, whose policies are that which resulted in such an outcome?
What kind of government that allows people like Ananda Krishnan going in and out of the stock market? Taking his companies private today and coming back later to re-list? Make tons of money when the companies were listed, making more money when they are taken private and making more money again when coming in again. in-out-in-out-in.  Am I describing something lurid or what? What is the KLSE doing? This is no longer double dipping – its triple dipping.
If we read our constitution, vernacular education should have been replaced completely by national school education. Having allowed, the government can’t undo. There is no way in the world can we expect Najib to have the gumption and the courage to enforce the constitutional provision that there should only be one type of school. National school and not national type school.  Where got balls- Chua Soilek disparages your religion, you smile and give him more money.
The Chinese are really not intent about having schools in Chinese as a means of preserving Chinese culture and all things Chinese. They are I suspect really after a good education in settings which offer excellent and superior facilities and superior resources. If they are pursuing the purity of their culture, how do we explain that the biggest enrolment is international schools and in the various private schools such as KDU, Sri Inai, whatever Sris are Chinese? I don’t see Chinese Cultural-enhancement or strengthening curriculum in these centers of superior education. These offer what the Chinese are really looking out for- the best facilities and resources that money can buy that produce the best results.
Indeed the Chinese pay to get into colleges such as Taylors and Sunway because these colleges offer the Chinese pathways to better and first class education. Are they after the triumphalism of Chinese culture and if so, why attend international and private colleges? They are after high quality education really because their own culture is best preserved in their home environments and other cultural enhancement activities.
But what if national schools have 1st class facilities and resources and produce top results? And we don’t have to pay through our noses? Chinese parents would gladly send their children there, forgetting the supposedly overriding need to preserve their culture. If national schools have only one agenda- produce the best results using the best facilities and resources not imposing one group’s hegemony over others, I think Chinese will go enroll at national schools. If the education minister does not already know this, maybe I should replace him. Turn all national schools into 1st class facilities, the Chinese will abandon their national type schools.
The sekolah kebangsaan Subang has a very large Chinese enrolment where the competition to get into the school is super tough. Because the school it seems has the best teachers, has excellent facilities and resources and offer, what the Chinese see as first class educational environment. What is important to Chinese parents is that this school provides the best results and the best students year after year. Its good education which they are really after.  Tiu kaw all the other agenda.
The Chinese appear to not mind that the medium of instruction there is in Malay. That can be tolerated as long as resources and facilities and preparation for educational future are best. They want schools that produce the best results year after year.
Our first priority should be is to upgrade all the facilities in all the national schools and supply them with the best resources and best teachers and faculties. Imagine if instead of paying RM7.8 billion for 257 APCs, we spend that amount on upgrading the national schools, aircond all of them, provide the best teachers including if required expat teachers. The Chinese parents will come zooming in to secure entry for their children, never mind if the principal medium of instruction is Malay. If we do that we don’t even have to legislate the termination of vernacular schools because Chinese parents will voluntarily send their children to these schools to get superior education. When attendance at national type schools dwindles, they will fold up voluntarily. Why make the Chinese hostile, where there can be more persuasive ways topersuade them to embrace national school education?
Why allocate RM 100 million for example to National Type Tamil Schools where the Tamil school system provides education up to primary 6 only? The RM100 million will do what? Educate Malaysian Indian children up to gagster level education? Or really, the RM100 million is to allow Palanivel distribute the money among his buddies.
Instead after 55 years, 8.5 million Malays lived with an income of RM 1500 or less and 12 million Malaysians earned RM1500 or less. That’s below poverty line. That means 40% of our population lived with an income of RM1500 or less and out of that, 71% are Malays. The Malays are that because, UMNO structures the country that way.
After 55 years of independence and under UMNO rule, there are about 260,000 ex-servicemen living without pensions and reasonable means of earning income. A few days ago we hear of a former ex-servicemen sentenced to 3 months in jail for stealing one carton of milk for his children and family.
When I spoke at a ceramah in Melaka for ex-servicemen, I was sure I heard shouts of lets go to war with the UMNO ministers. I say to them- don’t go to war- let us vote the UMNO stealing machine out of power. Then we sit down and discuss what to do with them.
I will give a longer answer to the issue of protection of the Malays in another article. Also I have not penned the various talks I have had with The Oracle of Syed Putera. We live in interesting times indeed.


Anonymous,  20 November 2012 at 11:00  

Dear Sir,
You are spot on , 100% correct. Nobody cares what type of school to enroll their children as long as that school provides excellent first class education to their children.
If all National School in Malaysia have this first class education, you don't have to worry about the National Type School as this will slowly disappear by themselves.

bruno,  20 November 2012 at 11:16  

Dato,everyone who has come up with a date for the inevitable GE has been way way off the mark.Is PM Najib really sitting out,warming his warm expensive leather armchair till the last days of his incumbency?

If not for rampant out of control corruption,Malaysia would have hit developed nation and high income status,even long before developed nation Singapore.

Malaysia has the blessed natural resources and Singapore has not even fresh water.But the Singaporeans were not that greedy for the sing dollar,and they know how to make use of the human brains.

In Singapore,if a minister is caught for corruption,he fly's out of the high rise window like an UFO.But in Malaysia the corrupted ministers flaunt their wealth at the people,challenging them to do whatever they dare to do.

Who will win the coming GE.Not the Umno/BN.If Umno/BN has confidence to even win by 1 seat majority,the GE would have been called and over with,a long time ago.And Mr Moo would have been the present PM already.

The Chinese have always treated education more precious than gold or money.Now even many Malays have followed the example of the Chinese.Many Malays if given an oppurtunity could have done as good if not better than the Chinese.But cronism has taken the bite out of these aspiring young well educated Malays.

I still remember a friend talking about the young turks in PNB in the eighties.These young educated Malays were smart,uncorrupted and ambitious.Every of these young executives have to always look over their shoulders.Not complacent and made mistakes and the other guy would have climb over you.There was very competitive high standards set up then.Only the very best gets promoted.

Now in the GLC's,one need not be smart,competetive to impressed the boss.One only need to be a ball carrier and political crony to succeed high in the coporate world.That is the reason almost all GLC's are high up to the noses in debts to the EPF.No wonder the country is going to the dogs.

Anonymous,  20 November 2012 at 11:18  

This KIM Jong NAJIB II fella is beginning to be a scum. I could not believe my eyes this morning when I noticed that even JAKIM's sponsored and funded religious program TV1,which been converted into NAJIB Kim Jong II praising program. Of course TV1 has become a UMNO Baru propaganda station since that hand-kissing Minister took the helm.And we have an MC by the name of Mohd Azmi Kassim and An Ustaz to keep on harping how we must be greatfull- not to Allah- but to the present Satanic Government with Najib Jong 11 in the background.

It is so sickenng and revolting!!

Ahli UMNO Lama

asiseesit,  20 November 2012 at 11:25  

we do live in interesting times. despite all that are written, the crux of the diseases lies in having too much power thus ignoring the simple fundamental of developing societal evolvement to finese.

we have shortsighted ministers who holds no accountable ownership from all the policies failures. neither do they mitigate or improve all that are wrong with implementation.

we had not the privilege to question so much, or exposed to all the oversights of those in power, until MM released the monster of the internet with consequences they are unable to comprehend and the fight they still loses in this aspect. being motivated to fight back with monetary gain and having the spirit to fight wholeheartedly with relentless dedication in cyber war is just one of them.

we know now how this country should be governed.

Tiger 20 November 2012 at 11:38  

You're right.
If anyone knows Chinese history, they will realise that education is paramount to any Chinese. Since 3000 years ago, even the govt officials were elected based on their exam results.
The brightest will do better for the people.
I send my kids to Chinese school not because I am Chinese, but I send them there because I KNOW the Chinese school is a BETTER system than what our national schools are.
Our govt should've known better than to screw up the missionary schools in the name of Islam. The brothers were there to teach, not to propagate religion.
Now they are but relics of a better system lost in the annals of time.

Anonymous,  20 November 2012 at 14:48  

Apa pendapat Pak Sak bila Harakah kata Presiden Pas hanya layak jadi nelayan? Nampak jelas Harakah nak pelakon filem hitam putih jadi Perdana Menteri Malaysia terhebat dalam sejarah...Malaysia Boleh!

Jamal Majid,  20 November 2012 at 15:42  

We have the Chinese schools, private schools, international schools and in the last decade a mushrooming of Islamic religious schools. Parents are sending their kids to all these schools because they perceived these schools are much better than the National schools.

The only government schools are are in high demand are the residential schools and a few well-run schools in the urban centres.

That's how fragmented our schooling system is. Our kids are segregated by race, religion and social class due to our government failure to provide good schools.

OneMalaysian,  20 November 2012 at 15:47  

Dear Sakmongkol

“I sense something fundamentally wrong in the comment sent by an anonymous reader who asks - who shall protect the Malays if UMNO is vanquished?”

That comment begs the question, protect the Malays from whom? The Malays are about 60% of the population. The Malays control at least 60% of parliamentary seats (there are no more than about 42 Chinese majority, and zero Indian majority seats out of 222). The Malays populate almost the entire senior civil service. Almost all generals and senior officers are Malay and the same with the police. The PM and DPM are Malay, and all important cabinet posts are held by Malays, with the most senior MCA minister being the Minister of Transport. Almost all senior judges are Malay, including the Chief Justice. The two largest banks are Malay-controlled and so are several of the most important GLCs. And all the Rulers - custodians of Malay customs and protectors of Islam - are Malay.

So we ask, where is the threat coming from? And what threats? Which non-Malay group or non-Malay race can change the constitution without Malay support, or force Malays to convert to another religion, or force them to adopt non-Malay customs, or physically harm them or deprive them of their assets or property? It would be interesting to hear what your reader might say.

If he thinks the Chinese or Indians are winning most of the economic prizes in “free” competition and as a result are richer than them, ask how this is so when these non-Malays are given so few scholarships and little government help and when licences for businesses are harder to come by for them? If they succeed despite a tilted playing field, do we begrudge them? If by “protection” this reader means that the non-Malays have gained more than the Malays by through sacrifice, hard work, savings and enterprise, and that this is not right because it means the Malays have “lost” something, then I think he must have his head examined. There is nothing – no law, no custom, and no barrier – that stops Malays from also studying harder, learning another language, working harder, or starting a business. These are not genetically programmed activities that only non-Malays can do. See how the constitutional Malays have seized every opportunity and succeeded.

If there is something that is stopping the Malays from succeeding, then it has got to be UMNO. After all they have been in power for all of 55 years, all this while “protecting” the Malays. The Malays don’t need protection. Those who think they do, don’t have the first two ingredients for success – self-belief and self-reliance. For those who want to succeed, get rid of that old mother hen called UMNO.

Anonymous,  20 November 2012 at 16:15  

If UMNO claims 1 in every 6 Malays is an UMNO member, I really hope that remaining 5 out of the every 6 Malays can see through the deceits/abuses/manipulations/robberies of UMNO, there will still be hope for our country.

Anonymous,  20 November 2012 at 16:25  

Tiger(11:38)-The brothers were there to teach, not to propagate religion.

You are right, too. Met a few chaps from Kuching while on tour there and a few of them, 50+ yrs, were able to recite the Lord's Prayer, and they said they have never missed their Friday solat.

Good country until screwed up UMNO politicians.

Anonymous,  20 November 2012 at 17:19  

Salam Dato,

Kepada anggota angkatan tentera; Apabila kapal selam tidak boleh menyelam serta menghadapi masalah teknikal yang lain: Apa maknanya?

Maknanya keselamatan anggota tentera di dalam kapal selam itu bakal menemui maut hanya disebabkan ketamakkan para pegawai atasannya serta menteri2 yang terlibat dengan rasuah.

drp: zuki

Org Perak,  20 November 2012 at 17:42  

The Chinese appear to not mind that the medium of instruction there is in Malay. That can be tolerated as long as resources and facilities and preparation for educational future are best. They want schools that produce the best results year after year.

Dear Dato,

I disagreed with your statement above where you have mentioned that the” Chinese appear to not mind that the medium of instruction is in Malay”.

You are absolutely wrong with your statement that spoke on behalf for the Chinese.

Do you know that the recent statement from the stupid education minister and education blue print where BM will replaced the English in Math and Science has resulted the private college/school (sri Garden/Wesley/KDU) flooded with Chinese student despite paying more than RM 1200 per month?

As a Chinese parent, please put yourself in our position to think why we reluctant to send their kids to National School. You should have the answer with the following questions:-

1) What can you do if you are good in B Malay? Can you join the racist civil services? Can you be accepted with a good BM result from the local university?

2) After graduation, where you intend to work for survival (cari rezeki)? Private or Government sector? If the answer is private sector then what is the point to have a good BM?

3) Why most ministers’ son sends their children to international school/over sea instead of local national school? Why they don’t appreciate their own languish in BM? (some minister kids don’t even know how to speak good BM)

Let me tell you a true storey of a good Malay girl that can prove Malay no need “ tongkat” to survive:-

This Malay parent has 4 children and all of them send to Malay primary school. The youngest daughter by the name of Nurul joined the Malay school for 1 year (standard 1) and request for a transfer to Chinese school in Nilai due to lack of school work.

She joined the Chinese school and managed to get 5A/2B for her UPSR two days ago. She even beat most of the Chinese top student in her class. This show that the Malay able to survive by its own but the NEP will kill her in future if she adopt the “tongkat “ mentality.

You must know the problem if you intend to solve the problem. Not many parents can afford to pay RM 1500 a month to a private school if not due to the rotting education system in Malaysia especially the poor quality of teacher in national school and university.

To conclude the above:-

1) You must take away the racist policy adopted in education and all the government sector.

2) There is no free lunch to be provided by the G. Do we need (5%) 1.4 million of civil servant?

3) NEP is for poor people and no the rich one.

4) English is a must to become competitive in world market.

5) Present NEP will bankrupt the country and who will suffer? Most of the Kampung graduate boy will become bagger in future?

Anonymous,  20 November 2012 at 19:02  


What you say about Chinese caring for quality education is very true. That's why international schools with their better teachers/students ratio have long waiting list on enrollment in spite of their prohibitant fee. National schools are shunned because of their poor quality in terms of curriculum and teachers.

Anonymous,  20 November 2012 at 21:43  

Dato Sak, you are right about the education. you know, its the black cat or white cat story. Chinese being the practical people that they are will just flock to the good school. By the way I just googled the image of Mrs Lee. You are right there too.


Anonymous,  20 November 2012 at 22:03  

Very true.

I think sek. keb has too many rotten Head Masters and this lead to rotten teachers.

Achieving quality education is not their concerns. We also heard of disiplinary problems, bullies in those schools

We all have problems finding good schools near our houses

Anonymous,  20 November 2012 at 22:05  

the mamaks are gonna screw this country up. after mahatir, there is this hamsa. indian disguised as malay just like the one from kerala. they will just plunder. PEROiD.
Mahatir said get rid of the Jews, the world will be save. How will we save Malaysia? get rid of Mahatir and his ilks, no?

Anonymous,  20 November 2012 at 22:20  

I refer to Orang Perak comments

I totally disagreed with him, probably he is speaking for himself and his family; and perhaps those from his kampongs

Nowadays, like it or not, children are taught to excel in multi-languages, english, bm and mandarin

so, kids going to a sek keb is not a problem as long as the standard of education is good and with condusive environment for continual learning

so, please speak for yourself

Anonymous,  20 November 2012 at 23:26  

Dear Dato Sak

I and many of my Malaysian Chinese former classmates are educated in English.

What is interesting is that many of my friends (who can barely read a word of Chinese and cannot speak Mandarin) choose to send their kids to Chinese language "national type" schools because they perceive these schools to provide better quality education.
They also perceive these schools to have more disciplined students.

There's also a significant number of Malay and Indian kids in the Chinese language "national type" schools.

A case of people voting with their feet (i.e. kids)?

You are right about private schools and international schools too. The medium of instruction is English and not Mandarin Chinese.
Yet wealthy Chinese parents choose to send their kids to these schools.

Phua Kai Lit

Sumpitan emas,  21 November 2012 at 01:11  

Dato, I wish I could respond to every topic you have covered here, but suffice for now, I will deal with the part about Ananda having three bites after three dippings. Brilliant capitalist entrepreneur or plain investment opportunist, or, both , operating within an investment regime with poor oversight by the very institutions specially formed for such functions. Or is the supervisory function lacking because the grey areas on investment rules and regulations have never been adequately addressed? Where is the KLSE? Where is the Securities Commission Malaysia?

Though dated, this article from Fortune, 11 Nov 1985 edition, written by Benjamin J. Stein puts in focus who exactly benefits when a listed company is taken private and who loses. Though written for the U.S. the legal points raised are, in my opinion, relevant and worthy of discussion, and perhaps action to prevent further unfettered ‘freedom of movement’ — MIMOMIMO – MovingInMovingOutMovingInMovingOut. What I feel are the key points raised by Attorney Benjamin J. Stein are given below:

[[ The great genius of the system of public corporations is the ability to raise vast sums for economic development. Its great curse from bubbles to watered stock to Ponzi schemes has been the temptation it offers managers and other insiders to abuse the trust of stockholders and steal from them in a seemingly endless variety of ways.
A particular troublesome form of insider abuse has developed in the past decade without anything approaching full public discussion of its ethics or legality. Known as insider leveraged buyouts, management buyouts, and going private, deals of this type totalled billions of dollars and involved major investment banks and law firms. On their face, independent of the specifics of each deal they seem to me to raise the most basic questions of whether stockholders are getting the legal and ethical protection they need and by law should have.
Seen up close.., they work like this: a group of insiders — officers and directors — works with an investment banker and a law firm to carefully analyse the assets of the company. If the insiders perceive a large difference between the going stock price and what they can get by breaking up the company, liquidating it, or redeploying the assets, they cook up an offer to buy back the company from the stockholders and “take it private.” Their offer is more than the stock market price. But it is — by definition — substantially below what the insiders believe the value of the company will be once they have it as a private fief.
The insiders send a prospectus offering cash or a combination of cash and notes for the outstanding shares. The prospectus usually cites the burden of regulation on a public company and the market’s lack of appreciation for the company and includes a pious assertion by an investment bank (hired by the insiders) to the effect that the price offered the shareholders is fair and adequate.
As far as I have been able to tell, no insiders have ever put these words, or words to this effect, in a prospectus: “Notice — we the management and our pals in the investment community believe we can put up a small amount of our own money, take all the cash out of your company, borrow the rest, and rapidly make many times the amount we put in. It is altogether likely our return on investment will be exponentially greater than yours. That, dear stockholders, is the only reason we would do such a deal.”

Sumpitan emas,  21 November 2012 at 01:12  

……..Managers and directors are, by law and custom, fiduciaries for the stockholders. Fiduciary care, as a matter of unvarying law from the Middle Ages to the present, requires that the fiduciary place the interests of the stockholders ahead of, prior to, and superior to his own interests at all times and in all cases………
Query (as we used to say in law school): How can an insider conceivably be exercising his fiduciary care to a stockholder if he plans buy that stockholder out at a low price and then resell or hold the stockholder’s former assets at a higher price? If the insider knows a way to realign corporate assets to realise more value, is he not legally and ethically bound to do that for the benefit of his cestuis, his wards, the stockholders? How can he justify buying from the stockholders something cheap he knows is worth more, often far more, than he paid for it? Returns to insiders in some leveraged buyouts have been 40 to 1 and better, while stockholders got a few percent on their money. How can fiduciaries do that? ………
Query: When insiders do a leveraged buyout, are they not inevitably acting on insider information? Won’t they always, in every case, know the true value of this real estate or that invention or this pending contract or that competitor’s problems far better than the stockholders to whom they make their leveraged-buyout offer? If that is so, as it inevitably is, are not the insiders just as inevitably acting for profit on insider information? Why is this allowed?........
Query: Why are insiders not required to disclose — under Rule ….or under Rule…. —, the going-private rule, which also requires full disclosure — the very basic fact that they plan to make far more out of the corporation’s assets than they are paying stockholders for them?.........
To lump all of this into one mound of legal and ethical sorrow: How, under fiduciary standards, insider trading restrictions, and full-disclosure requirements, can insiders get away with transactions that unavoidably call for the insiders to treat themselves vastly better than their ward-stockholders, on inside information, without full disclosure?........
Investment bankers are required to certify in all going-private deals that the purchase price is fair. But the same investment banker or a closely connected firm may already be at work reselling the corporate assets and may know that the stockholder is receiving far less than the insider will get. How then can the “outsiders’ price” possibly be fair? How for that matter, can the investment bankers possibly represent the stockholders as a large, anonymous mob while their very large fees are paid by the insiders, whose interests by definition are substantially divergent from the stockholders? Aren’t they also fiduciaries?........
Something is wrong on Wall Street. ]]

Something was wrong in Wall Street in 1985, but nothing was done to fix it. By October 2008, many things really went wrong in Wall Street. Should we fix KLSE now to stop Mr Ananda and many like him from doing the jig? He was widely reported to have presented a top-of-the-line jet-ski to the Sultan of Brunei Darussalam many years ago. Whatever for? But further access to the palace was effectively neutralised by vested and intimate interests from within Shell International. The moral is – ambition propelled by huge amounts of money cannot replace long-term relationship established through years of abiding friendship.
Some money, some ambition, some guts, some cheeks. We have them all in Malaysia.

Where is the yacht built in Turkey moored now, anyone?

monsterball 21 November 2012 at 05:14  

YIP!! The Chinese are after good education...and not really supporting Chinese schools.
Umno have been poisoning minds with half truths from Std 1 to Form 5 for decades.
As we can see..Malaysians were clearly divided...with the minorities defending their rights to be equal.
And have Anwar Ibrahim defending the minorities...supported by PAS..2 powerful based Muslim parties against Umno.
The 12th GE tells it all.
When comes the 13th GE??.
Why is Najib so afraid??

Unknown 21 November 2012 at 08:44  

Yeah, start the process of building Top Class schools with properly trained or re-trained teachers when Pakatan takes over Putrajaya. Everything has to start from Std One. At national schools, make Mandarin and Tamil compulsory for Chinese and Indians students, while those two subjects are optional to all the other students. Parents or Guardians of Chinese and Indians students who chooses NOT to take up those two ethnic subjects must give written consent to the school on their enrollment into Std One.Young students have immense capacities to learn languages !

org perak,  21 November 2012 at 09:33  

I totally disagreed with him, probably he is speaking for himself and his family; and perhaps those from his kampongs
Nowadays, like it or not, children are taught to excel in multi-languages, English, bm and mandarin
so, kids going to a sek keb is not a problem as long as the standard of education is good and with condusive environment for continual learning
20 November 2012 22:20
What a stupid comment from the above.

What a contradict statement.

Do you think the present sekolah kebangsaan able to excel in multi-languages by changing the Math and Science from English to BM? How to excel in good English?

Wake up kampong boy, anon 22.20. Chinese parent work hard and pay 1500 per month to prepare their kids for future and emphasize on English to complete with the world (not to complete with those kampong need NEP).

Chinese don’t mind to learn extra BM as a national language but must face the reality to complete globally.

Are you telling us that the Malay medium of instruction able to excel in multi-languages especially the English.

Look at the past before providing your kampong comments that our present sekolah kebangsaan able to excel in multi language. What a joke?

Anonymous,  21 November 2012 at 09:46  

hi dato,

interesting post. however i don't think the chinese are not into preserving their culture. who wouldn't?

chinese vernacular schools are one of the means of preserving their identity. who wouldn't want their kids to be able to converse and read in their native tongue?

the fact is malaysia is a multicultural country. what's wrong with people learning in their own language? but we need to set some rules. mother tongue or not every malaysian should be proficient in bahasa malaysia and english. mother tongue or not every malaysian should be taught on the same syllabus that propagates understanding and unity.

however you don't need to be in a vernacular school to learn mother tongue. why can't the srks do it as well? we all remember dr m's sekolah wawasan that was well received by the non malays. on paper the concept looks wonderful but i guess there's hardly any trust left for the government to do anything right. that's why it was rejected.

chinese vernacular schools is not just about education. to many chinese it's an establishment that represents their culture and presence in malaysia. to blame it as a cause of disunity and racism is unfair because the only and most effective way to stop racism in this country is through law. do we have an effective anti discrimination law that protects all races, both genders and all religion?

honestly if you ask me the one school system we should watch out for are the international schools. it's a system that divides the society into the haves and haves not. the government should improve the standards of all national schools including srjks to discourage parents sending their kids to international schools.

if anyone is thinking of abolishing the srjks bear in mind today there's more non chinese in chinese schools than the chinese in srks.

Wilson Ribut,  21 November 2012 at 12:49  

One the things/policies which scare non-Malays from NS is the overzealous action of the school to "islamize" the school system. Take a close look at the co-curricullum and the lectures meted out to the students by the the so-called pious teachers, is enough to frieghten some non-Malays parents. The non-Malays students are forced to do islamic things against their will. Fine tune the policies so as not to affect non-Malays students, things may change for a better. Make 1Malaysia a reality not just mere empty slogan.

Anonymous,  21 November 2012 at 16:46  

Stick to BM and English in national schools from the start, the country will do well. Leave Chinese and Tamil schools alone.

Like many ordinary non Malays, many Malays are interested in English....English is more than commercial/business language to them.

But the narrow, shallow and divisive politics of race and religion had done a lot of damage...we had lost the education battle.

Cahaya Qalbu,  21 November 2012 at 18:54  

Jobless Graduates 1/2

Based on the 2011 Graduate Tracking Study of the Higher Education Ministry about 40,000 graduates in the country are still unemployed, plus with this year graduates, it should be more.

The main underlying reason for the unemployment is the slow growth of the economy, not expanding swiftly to absorb the graduates. But non-proficiency in English is also one of the many factors contributing to the dilemma.

Sad but true, the so-called graduates can't even write one paragraph, nor have the confident to speak in proper English, due to their minimal vocabulary fluency. M.C.E/G.C.E (before it was changed to SPM in 1975) certificate holders those days can easily trounce today graduates English proficiency hands down and make them look like neophyte, especially the Malays. Hence, they can only work where rubber stamps are needed such as public agencies and GLCs. But with public agencies overstaffed and GLCs losing money there is nowhere to go for these graduates. To venture out of the country, most of their qualifications do not meet the requisite international standard.

We can’t deny it anymore that most today graduates are of mediocre quality, but not entirely their fault either. It’s the government policies of not rejuvenating or aligning the education system with the contemporary economic global environment has caused some of the blunder. Its method of memorizing textbooks, whilst sidelining methodological faculty of the brain has only encourages parents and students chasing A on a piece of paper in their field of studies. Of course hypothetically they are excellent but industries requirements, which stress on realism, they are not to the expected level. These graduates will only realize they're of poor quality when they are in the private-sector facing competition. The BN government has been deceiving the public with a feel good factor of churning out graduates, but unmarketable and unemployable because it has only emphasis on quantity, not quality.

The IPTS grads too are not contributing talents and industries productivity as the various IPTS appeared in the scene, not to upgrade the education echelon, but are only interested in making tones of money for BN cronies. Just check the credentials needed to enter these IPTS and one would be astounded to notice the low qualification required, for example SPM holders not in the science stream can still enroll for the diploma nurse course, overlooking biology plus chemistry when it’s the most imperative subject for this program.

Cahaya Qalbu,  21 November 2012 at 18:55  

Jobless Graduates 2/2

Is this the product of Dr M education’s system, which poisoned the minds of the Malays against the English language so that he and his clan can usurp continuous power? Or is this one of UMNO leaders hidden agendas; the ordinary Malays had to remain stupid and ignorant in order for them to rule Msia amongst their family members perpetually? Those UMNO leaders who screamed ‘Hidup Melayu’ sent their children overseas studying in English to get 1st class learning, while other Malays children are given 3rd rate education. This is not only injustice but they are hypocrites of the highest degree! Their children studies too maybe sponsored via scholarship by the rakyat money, who knows, since everything is under their power and manipulation.

If the countries of the European Union can accept that English will be their official language for sensible and practical reason, why is it so difficult for Msia to do equally? Are Malays who are competent in English a threat to UMNO leaders hegemony? If Malays were to use their brains pertinently they will see, UMNO leaders shrewdly and cunningly use every trick in the book to ensure the Malays remained the Malay adage ‘katak dibawah tempurung’.

And soon, not just the graduates who are difficult to get employment, lots of Malaysians throughout the nation will be in a similar predicament, akin to Spain, Italy and Greece; mismanagement and unlimited corruption of national resources. In fact, Malaysia is already bankrupt if not for the oil and gas money that is keeping it afloat. Once the oil and gas desiccated, insolvency is certain and then Malaysia will be ranked alongside the impecunious nations of the world.

When all national policies are predestined toward consolidating BN power to rule eternally, the country will be ruined. Those 40,000 graduates that are jobless mean the BN govt. has failed. In a democracy a govt. that has failed has to be substituted. So, those Malays who are still in their fantasy world, lets join together and get rid of the UMNO-led govt. that has been unsuccessful to serve the rakyat best interests.

Anonymous,  22 November 2012 at 00:12  

ini kali- lah-- its now or never .. all malaysians see n vote cleaerly lah

Anonymous,  25 November 2012 at 18:01  

Many Chinese parents are fighting to keep the vernacular schools. Why?
1)Many of these parents do not have the means of sending their children to private schools and colleges.
2)As you said, the vernacular schools provide much, much better methods of teaching than national schools.

Therefore, you take away these schools, the parents will not have any other alternative.
End analysis? Like you said, it has nothing to do with culture.

And that's why we need to have ABU/ABBN. PER-RIOD.

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