(Speech at the opening of the Tasek Dalam DAP Branch, Ipoh on Sunday, 20th July 2008 at 12 noon)
The International Trade and Industry Minister, Tan Sri Muhyiddin Yassin said yesterday that his ministry will be looking into attracting investors who are pulling out from China because of high costs there.
Muhyiddin is being too optimistic when he should know that Malaysia has become even more uncompetitive in the past four-and-a-half months since the March 8 “political tsunami” because of the political weakness of the Prime Minister, Datuk Seri Abdullah Ahmad Badawi which has resulted in his failure to deliver his numerous long-overdue reform pledges.
This is one important reason why despite the Mid-Term Review of the Ninth Malaysia Plan, the Kuala Lumpur Composite Index (KLCI) on Friday plunged to its lowest level since the end of 2006!
After the recent general election, Abdullah had assured Malaysians that he had finally heard their voices and would begin to implement reforms to regain public confidence in his administration.
Nearly five months have passed and apart from rhetoric, very little has been delivered by Abdullah.
In the three areas of police, judicial and anti-corruption reforms which Abdullah had made specific mention, Abdullah has nothing to show.
What is worse, recent events, in particular the scandal of the two statutory declarations by private investigator Bala Subramaniam and his disappearance, the continued harassment of Anwar Ibrahim and Raja Petra Kamaruddin, the abuse of police powers and the lack of accountability by the Home Minister, Datuk Seri Syed Hamid Albar over the three-day 1,600-strong police lockdown of Kuala Lumpur and Klang Valley based on the false intelligence of a non-existing Pakatan Rakyat top leadership meeting to plan massive demonstration in Parliament, have further undermined national and international confidence in the Abdullah government.
As a result, the past four-and-a-half months have witnessed the continued deterioration of the crisis of confidence confronting Abdullah, although the Barisan Nasional had been returned with a strong majority of 58 MPs in the recent general election – with even leaders in Barisan Nasional losing confidence in Umno and BN government.
Malaysia is not going to be attractive to foreign investors unless the nation is capable of being globally competitive through major institutional reforms and by giving top priority to meritocracy in all spheres of national endeavour.
“The International Trade and Industry Minister, Tan Sri Muhyiddin Yassin said yesterday that his ministry will be looking into attracting investors who are pulling out from China because of high costs there”.
Attract what investors to Malaysia? He must be kidding! I would bet these are the very same investors who had moved from Malaysia to open up shop in China in the first place. And with the present screwed up political climate and rising costs of living in Malaysia, now that would make any investors to said “HA! Thanks but no thanks!”
All TSM wants is to justify the huge government budget for marketing Malaysia overseas as is the same with the Minister of Tourism. It really makes me want to puke reading the slimy reasons the Dike gave to ask for increase in her ministry budget.
The present sodomy saga against Anwar is bringing untold disaster to all of us – the economy, the stock market, international image – . Practically, the whole world does not believe in this sodomy charge, yet the government is adamant is pursuing with it with gusto, as though it is equivalent to an espionage against the country.
Even if the charge is proven in court, no one will believe it.
The aggressive stance taken by the police and the government point to a cruel and concerted effort to tarnish Anwar’s name.
Abdullah lost the battle even before it has started!
Truly the world is watching us, especially the endless follies and political faux pas committed by the BN govt. Don’t you think those who have been following the developments in Malaysia are eager to see the next missteps and comedy of errors by our Ministers both in words in and actions?
Yesterday, Saturday, Johan Jaafar in his weekly article in NST commented on the book, “The Totally Useless History Of The World” about an alternative take on history. In a topic on Henry VIII, who in 1531 appointed Sir William Pauler to the post of “Surveyor of the King’s Widows, and Govenor of All Idiots and Naturals in the King’s Hands”. In Johan’s own words, he commented, “the govenor of all idiots – that sounds relevant today, don’t you think?” Now then, we know Johan is pro BN but the comment he made is trying to tell us something, doesn’t it? I would not want to hazard a guess that the comment is in relation to our Cabinet and the Ministers. You, the reader, make your own conclusion or assumption.
In the same book, it was stated that Manahattan in New York was sold for today’s equivalent of RM2,100 by the then director general of New Netherlands, Peter Minuit because he hated the inhabitants so much. Minuit described them,”entirely savage and wild, strangers to all decency, uncivil and stupid, proficient in all wickedness and ungodliness”. Now again, I would not want to hazard a guess (again) that this has any reference to any of the people of Malaysia whether it’s the BN MPs and/or Cabinet Ministers, nor the enforcement agencies, etc. You make your own conclusion.
The “honourable” ITI minister has his head way up in the clouds & is hallucinating. Among Asean countries bolehland is probably way at the bottom in terms of investment potential from the eyes of foreign investors. This is not to mention other very competitive investment grade countries outside this region.
First & foremost, rampant corruption in all levels of officialdom has gained even greater momentum rather than abated as promised by the sleepy head bodohwi. Optimistically this could be a last hurrah by the corrupted officials before their ill-gotten game is up. Pessimistically this is the beginning of a continuing avalanche of destructive force against progress.
The political situation as orchestrated by the BN fools is threatening the business environment in the country. In addition the sudden drastic inflation initiated by the increase in petrol price has inexorably created a definite trend of potential wage hikes. The ever rising crime rates throughout the land has also sent shivers to all foreign investors!
With all these unfavourable factors currently attracting attention from all, it is obviously a day dream of hallucination by the ITI minister. Perhaps this is just a political show in view of the coming umno elections. Hilarious indeed!!!
If the UMNO led BN Goverment want to bring in foreign invesment its easy .
1. Reduce the crime rate.
2. Reduce the rate of corruption.
3. Reduce RED TAPE. Main reason why corruption is high.
Its been more then 4 months after the Genaral Election but both side of the divide still act as if we are in election mode.We are facing a CULTURE SHOCK of sorts.
The 5 PR states are finding it hard to work with the Federal Goverment.At the same time the Federal Goverment is finding it hard to work with the 5 PR States.
The Rakyat are the one who suffering.In some areas there are 2 ketua Kampung.One appointed by PR the other by BN.In some areas there are 2 YBs one elected by the people. The other appointed by the federal goverment.
if we don’t change the govt now.. we are all finished.. I am already started planting potatoes in my garden…
the present govt are not only incompetent but don’t give a shit to the rakyat..
When will the government of the day stop thinking about competing with China, we can’t compete with them on low wages, it is time to move up to the next level.
according to bala, najis engaged in anal intercourse too.
sodomy is no serious than murder.
it is the insect-size brains of the leaders tat one should worry abt.
The irrational 41 – 64% hike in fuel prices certainly have hurt the economy.
With expensive transportation costs, foreign tourists will think twice if they want to visit Malaysia – MAS is already feeling the pressure. Soaring inflation, caused by quantum leap in fuel prices, is poised to exceed 8% and will dampen domestic demands and affect retail trade. In fact the Malaysian Institute of Economic Research (Mier) revised downwards its gross domestic product (GDP) growth forecast for this year from 5.4% to 4.6%.
Anwar and even a few BN politicians have pointed out that it was possible to reduce the magnitude of fuel price increase and hence its detrimental effect on the economy. Unfortunately, an inexperience Pak Lah did not foresee that at the time new prices of fuel were determined.
What “adds salt to the wound” is certain government quarters insisted that the 30% Bumi-equity must still be complied even at this time of difficulty.
Financial/economic mismanagement by incompetent government, coupled with political turbulence, the outlook of Malaysian competitiveness remains bleak – at least for now.
“Abdullah lost the battle even before it has started!” Mr Smith
Aren’t you assuming a little about the kind of battle that is being waged?
All blogs are littered with discussion about how Anwar is not guilty of the crime for which he has yet to be charged, of the massive traffic jam and how stupid Hamid is. The nation’s attention has been distracted from the real issues. I call that a resounding success for BN.
“The nation’s attention has been distracted from the real issues.”
What are the real issues ? Najis and Rosemary ? Nah, it’s the economy, and the thieves can’t fix that.
Ultimately what will do this government (or any government) in will be the welfare of the people. The people are struggling with inflation, yet there are no new opportunities in terms of growth and employment. All the corridors are schemes to enrich the elite few within UMNO, and the people know it. The combination of stealing and stagflation is what will do UMNO in.
how desperate is hum lan is well exhibited by the ill planned ill supported , laughed at initiatives from the public, look at the massive jams only the men in blue who are duty bound reluctantly complied, the public couldn’t be bothered if the sky fell down , but realistically everybody knows , sad habit they cannot continued his jams.
grave desperations has been shown , it is the measure of eye end in insecurity among the loony gonies bullies.
It is time and they knew it, so grab and scourge earth has been initiated, we see no actions on the long term of anything of good for the economy….micro or otherwise.
Every one for them selves, collect yours and i collect mine.
the year end is too near to argue, we all have accounting to be answerable.
And it not going to be good anytime soon….u tell me ?
Which comes first the ills of this countr(corruption,racism,marginalisation,gagged
press,compliat judiciary etc) or the economy?They have connections no matter how strong an economy is for if they strike there can only be one way the economy will move -downwards!!
And in Malaysia’s case it is spiralling downwards.
Investors are not stupid. They can read, they can check through the internet.
Badawi promised police reform. Nothing happened. Cases involving police mysteriously get swept under the carpet. Once in a blue moon, some poor corporal or new recruit get to be the sacrificial lambs. Badawi promised judicial reform. Nothing happened, except for the promise that some old cronies will be promoted to the highest judicial posts in the land. Badawi promised to go all out against corruption. The biggest fish he caught so far was the DG of Immigration – for offences that had been going on for the past 20 years. Badawi promised to take care of the poor; instead he presided on the highest price increases in the past 20 years. Badawi promised big projects, but all could never take off, including the second Penang Bridge in his own home state.
Mr Sleepy Head, the world is not stupid. Certainly not like UMNO.
The outflow of hot money should be the immediate concern. The management of the financial system should be the 2nd priority. Next, the local economy should be simulated. The FDI is something that will take time and effort. Many companies pulling out of China because of high costs are not the main reasons, though officially they may cite them as the reasons. There are many more important factors besides costs in investment decisions. The minister need to know them before making simplistic assumptions!
Who’s leading the charge in attracting investment into this country? Consider this: the Finance Minister failed entrance statistics and does not know anything about economics. The Second Finance Minister squandered RM 12 billion of the country’s reserves on FX speculation. The head of Khazanah is nothing more than an errand boy who got promoted because he is of the right race and used to work as an analyst for Salomon Brothers.
The International Trade Minister ? He can’t really speak English well, only slightly better than a certain former Chief Minister of Selangor.
A country’s attractiveness to foreign investors depends largely on the sum total of its political, social, cultural, economic, and physical conditions, more so vis-a-vis a globalised economic and political environment.
How do we compare and stack against other countries which are also striving to attract the FDIs?
Leaders and aspiring leaders have to be thoroughly, and I mean THOROUGHLY, familiar with all the realities and the intricacies of the local as well as international environment. Anything less would not be sufficient to put the nation in a strong and competitive enough mode.
Is the local political landscape favourable to attract FDIs? The political system and political practices adopted would play a major part in influencing decisions. Are the practices fair and just to all the inhabitants of the country? Are there any shortcomings and discriminating policies? Are there any racially-biased practices which are forced on the business and social sectors?
International investors are placing more emphasis on the politically-correctness of the countries where they intend to invest in. It may seem to be encroaching on the administration or affairs of the countries concerned, but it is the knowledge about the actual situations which gives them the confidence and therefore could not be blamed. How investment-accepting nations conduct the political affairs do lend weight as it influence stability and sustainability.
Social, environmental, availability of skilled, semi-skilled manpower are other major issues which would influence the investment climate.
How do we fare in these regards, before and after the March 8 2008 GE? The investors are are surely looking into all these before they make the next decision.
If the Police can’t guarantee safety and security, if the courts can’t guarantee justice, if the government is hell bent on making life difficult for the people, then there is no question that investors will look elsewhere. I don’t think UMNO realises that the world is flat.
FDI has left Malaysian shores some 10 years or more ago and has never really make a comeback here for obvious reasons besides cheap labour cost.And certainly Malaysian government knows what those factors in terms of attractiveness to foreign investment are.They are however not in the least interested.What is of importance to them is their greed to enrich themselves.
In order to feed on their greed so shamelessly and openly they have rendered importent all the fine institutions inherited from the British and for which the citizens of this country has placed great trust in the smooth functioning of this coutry.It is precisely the breakdown of these institutions that this country has come to this sad state of affairs.Thus i think the question to ask is how come we have let this happen! And are we prepared to turn it around at any cost? It is really up to us.
“The International Trade and Industry Minister, Tan Sri Muhyiddin Yassin said yesterday that his ministry will be looking into attracting investors who are pulling out from China because of high costs there”.
Attract what investors to Malaysia? He must be kidding! I would bet these are the very same investors who had moved from Malaysia to open up shop in China in the first place. And with the present screwed up political climate and rising costs of living in Malaysia, now that would make any investors to said “HA! Thanks but no thanks!”
All TSM wants is to justify the huge government budget for marketing Malaysia overseas as is the same with the Minister of Tourism. It really makes me want to puke reading the slimy reasons the Dike gave to ask for increase in her ministry budget.
To side track a little. Anyone knows how’s bro Pete (RPK) doing?
MT – Malaysia Today – has not been accessible for the last 4 days.
Has anyone been able to gain access to it? Need help. Thanks.
u would find a real ‘100billion’ ringgit note in malaysia too like in zimbabwe now!!not jus during the upcoming hungry ghost month,but real!! with the umno/BN central gorverment presently jus interested n indulging to subortage the PR control states!!
malaysia economic is heading for free fall while umno/BN goons are gather steam in their ‘orgy of looting’ on the nation n the rakyat!!
Another day UMNO still the government,
another day Malaysia uncompetitive!!!
Well, I believe we have criticised enough in general terms why the Malaysian economy is not performing. I am yet to hear from PR some bright spark how to propel the Malaysian economy forward if and when they come into power. It is easy to criticise rhetorically. Have we thought through one single policy measure to handle one economic challenge confronting Malaysia today? I don’t think so, both from BN and PR.
You don’t need any bit of intelligence to know that as long as Badawi is the PM, Malaysia will sink further. The longer he stays in power, worse it is going to become.
No investor in his right mind will ever invest in Malaysia where global public perception is a police country, no clear peace plan ahead, almost malfunctioning govertment and a country whose leaders lie too much. It is sad that when the PM or his deputy says something, it is usually the exact opposite. You just can’t trust anybody.
UMNO is actually fighting for survival. They know their time is almost over. Thats why we now have the new sodomy case against Anwar. Malaysia could be the only country in the world where sodomy is an offence punishable with 20 long years of imprisonment. Damn stupid law when increasingly in other countries, marriages of same gender is becoming legal.
Very clearly, they were preparing to prosecute Anwar. In the same process, UMNO is shooting everyone on their legs but killing us all. If UMNO theives don’t get the loot, they probably wants no one get anything at all. Thats why there prefer to destroy our economy. Present UMNO leaders will go into history as those who destroyed Malaysia, our beautiful beloved country.
The Enforcer,
Why don’t you try http://72.47.215.31?
Uncle Lim,
You are damn right !! Look and Listen the lavish abused of wang ehsan by a new MB under BN rule.
Both new Pakatan Rakyat Chief Minister of Penang and MB of Selangor decided to cut costs for not changing any new cars for exco members and used old cars for official functions.
Rakyat witnessed how the Terengganu new BN MB are damn “Pemboros” or “Big Spender” going buying spree of 14 BIG MERCEDEZ BENZ cars and claimed PROTON PERDANA are less quality and inferior cars for BN excos to use them.
Mentri Besar Datuk Ahmad Said said the state government has defended the purchase of 14 Mercedes E200 Kompressor cars at RM3.43mil for the use of its state executive councillors and senior officials and the (BN) state government had planned to purchase the cars for a long time now to replace its Proton Perdana V6 Executive fleet in a move to “Cut Cost”.
Ahmad cited the example of the Proton Perdana of state Commerce, Industry and Environment committee chairman Toh Chin Yaw, which has twice undergone expensive repairs to the tune of RM50,000 in the last 36 months. (What a BULLSHIT as mentioned above – A Proton engineer claimed the costs of tuning a Proton Perdana is less than RM10,000 each time . )
Rakyat is able to judge the poor governance of a so called rich oild state with millions of wang ehsan from Petronas was mismanaged and abuse to buy Benz instead to create more infrastructure development like roads, schools etc and to help many poor Malays who are still damn poor and living in hard core status. UMNO called for Ketuanan Melayu to help the poor Malays in the country but new BN MB Ahmad actions proof otherwise. Rakyat was pity an old lady living in a hardcore poor in KT was contesting against BN candidate showed how MISKIN and POOR the condition of Malays in the state but BN leaders are continue to abuse millions wang ehsan for their lavish spending without concern about the Malays feeling and crying for HELP from BN Malay leaders in the poor state.
Last but not least, Malays will be very poor and living in hardcore kampungs forever if the UMNO Malays continued to discriminate and marginalised their own poor Malays with excuse of fighting the rights of Malays enshrined in the Constitution of Malaysia. New MB Ahmad rampas kuasa from a ligitimate Pak Lah’s candidate and showed his ways how to misused tax payers’ funds and wang ehsan for coming five years. What a pity for poor Malays in KT after suffering for 50 years under BN rule?
LKS,
This is one important reason why despite the Mid-Term Review of the Ninth Malaysia Plan, the Kuala Lumpur Composite Index (KLCI) on Friday plunged to its lowest level since the end of 2006! = KLCI will fall more below 900 points anytime from now based on the weak political climate in Malaysia and as long as Pak Lah stayed as a hopeless PM.
After the recent general election, Abdullah had assured Malaysians that he had finally heard their voices and would begin to implement reforms to regain public confidence in his administration. = Assured MY FOOT ! All reforms and promises are BULLSHIT to deceive the people of Malaysia.
Nearly five months have passed and apart from rhetoric, very little has been delivered by Abdullah =
Pak Bodowi is kurang bijak since day one when Dr M claimed he had choosen a wrong successor and he is knocking his head against the tomb of Matsuri in Langkawi soon.
Hopeless economy and financial positions when more investors are running away from Malaysia soil. Unemployment and stagflation will affect in long term in Malaysia but most BN leaders are still sleeping soundly and fighting for power in their own parties.
MY GOD !
Godfather Says:
Yesterday at 22: 07.18
“What are the real issues ? Najis and Rosemary ? Nah, it’s the economy, and the thieves can’t fix that.”
They do! They only fix what needs fixing long enough for them to carry their millions out of the country!
“I don’t think UMNO realises that the world is flat.” GODFATHER
They know you know that the world is round. They just want you to believe that the world is flat again so you think you will soon fall off the edge! And when you think you are, that’s the time they rake in their millions and make a run for the door!
“UMNO is actually fighting for survival.” Captain
Where have you been for the last ten years??
The damage has been done ! The global effect has damage a great deal, adding the situation in Malaysia has just adding fuel to a flame. We will suffered the long term consequences, we had been branded as distrust nation. Additionally with policies that may comes around with unfavourable means, why should they come ? Indonesia has been going thru troubles & they working hard to attract foreign investor & now they are looking at a brighter side.
For us, we had been in the positive manner but looking for trouble. We had to start all over again & i am not surprise that one day Indonesia will over pass us in terms of economic point of view.
Actually, the many who failed to understand the business environment in China suffered to day. It is all due to corruption amongst those Chinese officials who made the investment cost high.
Similarly, the flip-flop rules and regulations there are persistently being changed.
Do you all see the similarity here in Bolehland? Another spin story of force blinding the rakyat that we are all for FDIs when our house is still very messy. The political stability is of utmost concern when it comes to FDI decisions by any foreign party. Would these investors consider coming in, bring in billions or million of USD to be threatened by instability. What runs in their minds is, “Will we lose our money”?, “How long would we be able to recoup our initial investment costs”? ….etc.
Would they choose a better place where corruption and judiciary independence to protect their interest in case of arbitration is needed in seeking Malaysian court justice? It all boils down to this!!!
Badawi was so desperate to show progress on the corridors that he essentially “pawned” Bolehland’s future to the Arabs. He agreed to put in all infrastructure in Iskandar, and also agreed to a compensation formula that is so one-sided that it would make all Malaysians puke. Yes, the formula agreed with the Arabs is that if the government did not deliver its promises, it would be penalised at several multiples of the amounts the Arabs invested. If there is upside, the Arabs take all of it. If there’s downside, the government takes all the downside.
This is even more lopsided that the IPP agreements, and the tollroad concession agreements. This is why they will impose the OSA on the agreement with the Arabs, and it will not see the light of day.
To restore foreign investors’ confidence in Malaysia, police must take DNA samples of important person(s) mentioned in RPK and Bala’s two statutory declarations and conduct a thorough investigation on Altantuya’s murder as that will clear investors’ doubt whether those holding high office are involved in criminal activities.
Foreign investors will not be interested to invest in Malaysia if they know that high-profile public figures are involved in criminal activities.
Calvin ngan said we cant compete with china on wages and we have to move a level up.
Actually we wont be able to compete with China anyway in a head-on clash.
We should be looking at niche – at what we could do best. However to stay atop would mean tapping into all our best resources, inlcuding the entire population and not just a preferred segment of it. This is precisely where UMNO would fail the country and the people.
Our best brains almost always have to leave the country in order to find challenge, satisfaction and acknowledgement. We cant even take on Singapore, or taiwan or hk or S.Korea and soon, Thailand and Vietnam.
With UMNO in power, our uncompetitiveness would deteriorate.
When I heard this idea, I almost fell of my chair. The only reason for saying this is his job as Trade & Industry minister and the need to deliver good news no matter what i.e., spin factor. But really, does he need to deliver such unlikely possibilities? Maybe its to show how ‘smart’ he is given the run-up to UMNO election in December. But really how many stupid people buys it and how many people think he is just stupid? I would think he loses more smart people than he gain stupid ones even among UMNO constituents.
Malaysia is a niche player in foreign investment, will always be so for the forseable future until China and India achieve a per capita at least 2-3 times that of ours. If they pull out of China, they don’t come here. They go to India, Bangladesh, Pakistan, African countries.
China is today the flower capital of the world. And you know why? Because their customs personnel are primed for the export of such perishable items.
Can Malaysia’s customs personnel do the same? I doubt it. They don’t work. You bring in chocolates, they also want a bar. And then they also get gaji buta.
In our Courts, the big-lettered slogan is “Buat Kerja.” Not “Buat Kerja Baik” but “Buat Kerja.” Why? Because the Chief Justice knows that they get gaji buta.
Malaysia cannot compete with Indonesia. So don’t talk about competing with China, despite its problems with corruption that it has shown the political will to eradicate.
The last paragraph of this entry sums it all for me. Meritocracy in all spheres of human endeavor or perish ultimately. Mediocrity is the forerunner of stupidity. And stupidity we all know breeds disaster.
KUALA TERENGGANU: The state government has defended the purchase of 14 Mercedes E200 Kompressor cars at RM3.43mil for the use of its state executive councillors and senior officials.
Mentri Besar Datuk Ahmad Said said the state government had planned to purchase the cars for a long time now to replace its Proton Perdana V6 Executive fleet in a move to cut cost.
“Please understand that the Proton Perdanas go through continuous long-distance journeys. It’s costing us a lot of money due to high cost of maintenance.
“We are not saying that the national car is not good but in reality we are coughing up more money for maintaining the Proton Perdanas, particularly the gear boxes,” he said.
Ahmad cited the example of the Proton Perdana of state Commerce, Industry and Environment committee chairman Toh Chin Yaw, which has twice undergone expensive repairs costing RM50,000 within 36 months.
“In the long run, Mercedes cars are cheaper to maintain and could also save us fuel costs.
“This is the state’s long-term plan – we are farsighted. The cars could also fetch a high market price, when sold as second-hand cars.
“We studied all angles before deciding to buy the Mercedes E200 cars,” he added.
Ahmad also denied that the oil royalty money was used to buy the cars.
“In the first place we have yet to receive the oil royalties from the Federal Government.
“The funds to procure the cars were from our own coffers and has nothing to do with the oil royalties,” he said.
—————————————————————-
Finally, there is a BN leader who condemned proton cars and agreed that proton cars are uselss and bad quality.
Why not getting those 2.0L Japanese cars such as Nissan Cefiro, Honda Accord and Toyota Camry which are cheaper to maintain and better fuel consumption….
There are still a lot of very poor rakyat in Terengganu and are suffering from the current high cost of living and our Government advised them to be thrifty. But the government is abusing the state’s coffers.
He thinks rakyat are so stupid about cars.
Why aren’t we competitive? There are many factors to this, not just 8th March tsunami.
Back in the “Look East Policy,” Malaysia was attractive in its political stability. We have fresh and educated workforce. The PM was a tireless salesman, going from one nation to another, selling the opportunities available in Malaysia. Land were cheap and plenty. Terms were generous and the sticky Bumiputera Issue was made up of quasi bodies like HICOM.
At that time, other Asean countries, Cambodia, Laos, Vietnam were embroiled in political survival.
Success of Look East created new breed of people. Quasi bodies started to transfer their holdings to “ketuanan” tycoons. I don’t have to mention their names, you know them and that started the greed… greed…greed. Take the recently failed negotiation of Proton and Volkswagen. What was wrong? Wasn’t it greed and pride that prevented Malaysia acceding to management control to Volkswagen? We rather see Proton collapsed and dead but we will never abandon the thinking created in the 80’s.
To revive competiveness of Malaysia, we need to re-brand the nation. Can Abdullah Ahmad Badawi and his advisors do that? Four yrs proved nothing at all. In fact he had proven to dismantle many proven policies of the past and replaced it with the “ketuanan” concept – and that is also poorly done. No, YB Lim KS, the tsunami 8th was an eye opener, but Malaysia’s competitive edge had lost its shine long before that.
Muyhiddin,we all know that you are trying to paint and give your image a little brush up for the coming Dec election and what you are trying to state is far too far fetched.Don’t you think it is unthinkable even to mouth it cos you will never be able to attract foreign investment into this country any more, not unless UNMO gets booted out?
If FDI were to leave China because of cost then the first destination would either be India or Vietnam followed by Bangladesh and more likely they will prefer Indonesia over Malaysia.
So come off it Muhyiddin, just don’t talk c–k please
We have someone can’t speak proper English as Trade Minister.
God blesses Malaysia.
State led development is defunct. It no longer works because we do not have honest politicians and bureaucrats. So it is better to ask the government to do less, not more, on the economy. The government should back off, and let the market works. Don’t worry too much about “market failures” because whatever the failures, they can’t be worse than “government failures” resulting from excessive government intervention and interference. The government should just concentrate in governing, ensuring good governance, fair administration of law and order, impartial judiciary, level playing field, embracing globalisation, and collect taxes and providing infrastructure. The government should NOT directly get involved in business or economic activities. First, divest Proton to the private sector and allow competition. Let it operates like a business concern, I guarantee it will generate value to the shareholders and provide better products to the consumer. Otherwise, we can talk until the cows come home, nothing will happen. Forget for the moment those good for nothing “social safety net” and other welfare programmes. They are distractions and themselves selective and discriminatory which will further stifle the vitality of the economy. Helping the poor are mere red herrings. There is nothing there, but excuses to siphon money out of the government coffer.
People are still investing in China…its not like they are running from there..they have big workforce, very good universities, big population etc….how to compare with MY. Apart from the politics, we have small population, small work force and universities that are going south all the time. We can continuosly name corridors and fleece foreigners into investing, but where to get the trained people? The only foreign work force that is willing to work here are low level ones…. intellects rather work in countries that have good/ low tax regimes, safe environment, good infrastructure, good quality of life and a large expat community.
/// # calvin_ngan Says:
Yesterday at 21: 27.06
When will the government of the day stop thinking about competing with China, we can’t compete with them on low wages, it is time to move up to the next level. ///
calvin – I think competition is not just about low wages. It is possible to compete at all wage levels, if the right resources and talents are utilised, particularly human capital. Sad to say, this is easier said than done. Because of NEP, and if it persists, Malaysia will never be competitive regionally, let alone globally.
So, now UMNO is finding itself in a Catch-22 situation. It will lose its power base and right to govern if it abolishes NEP. On the other hand, if it keeps the NEP, it will find itself becoming irrelevant because the economy will become less competitive and deteriorate as the years go by.
Are we seeing the beginning of the end?
GOD help MALAYSIA if PAS joins UMNO……Where will MIC ,PPP ,MCA GERAKAN stand.
Did you guys see “Malaysia police chief, AG barred from Anwar probe” :D
Pak “What” Lah exposes yet again his inability to lead. What kind of “rule of law” is he trying to show in this country with suspending the police chief and AG?
WAHAHA!
Dear All,
From my point of view, Malaysia is a truly God-gifted country, with its abundance of natural reserves, diversity of multi-cultural and religious society and relatively safe from natural calamities. These three vital ingredients would have given Malaysia an advantage over Thailand, Singapore, Vietnam and Indonesia in attracting foreign investors. Almost everyone in Malaysia speak English and this is yet another advantage over others, for example, Thailand or South Korea for that matter. Malaysia boasts itself with the largest industry in manufacturing, relatively thriving electronics and semiconductor chipmakers and strong furniture factories. We are also extremely strong in agricultural, construction and tourism.
Malaysia can always be a good home for Middle Eastern investors due to Islam. Halal hub is yet another sector which the government should strongly take advantage of.
However, Malaysia is currently under-going a difficult path as the political scenario has changed drastically after March 2008 election. UMNO has suddenly found itself somewhat of a power-struggle and many were questioning the efficacy of Abdullah’s stewardship going through these turbulent period. The Opposition has renewed calls incessantly that they will form the new Federal Government by Sept 16 with collosal defections from the ruling coaliations. Investors are now packing their bags in search for some other more politically stable country while we are given time to sort out our political mess. For better or for for worse, the political mess that our politicians got into after March 2008 got even messier with the purportedly trumped up charge on Anwar, Raja Petra’s “web talk” of Najib’s involvement in the Altantuya murder case, hike in petrol price and an array of other political issues. These political issues created a situation whereby politicians are busy doing fire-fighting and I hope they have not neglected their most important priority i.e. administering the country as a result. The most recently report that PAS is holding friendly talks with UMNO is yet another given fact that Malaysian politicians have yet to mature themselves above race and religious politics. For fear of being marginalized, we can note that politicians will be more than willing to do anything.
Negative overseas reports of human rights abuses, beating of detainees by police and all have given a bad splash on Malaysia in the eyes of foreign investors particularly from the US, Canada and most European countries. Bold and daring IT heist in Penang a year or so ago had created a bad taste on Malaysia to IT investors from the US. The issue is further exacerbated as the case went unresolved!
Having said all the above, I note that Penang and Perak have came out cheering with the notion that billions of foreign direct investment figures will be moving into the states in the near future. Are they true or mere rhetorics? Time will tell and at the end of the day, investors are only interested in a politically stable country to do business and earn money.
Are we going through the birth pangs of a new government?
What do foreign investors want?
1) stable political landscape
2) good education system
3) impartial judiciary
4) transparency and good governance
5) effective police force
6) able workforce
7) effective leadership
8) well managed economy
Do we have any of these? If not, then we will not be competitive.
Factories who relocate from China will end up in Vietnam or Thailand, rather than Malaysia. Why? Because we have the opposite of all the above!
Lim Kit Siang should do well….pracitizing freedom of speeches and rights.
Few of my messages are moderated and deleted.
I wonder why.
“In the three areas of police, judicial and anti-corruption reforms which Abdullah had made specific mention, Abdullah has nothing to show” shows it will only be a dream if we persist that we have an edge over our neighbouring countries to attract investors.
A well write article about the outstanding issues confronting Malaysia in Asia Sentinels:
http://asiasentinel.com/index.php?option=com_content&task=view&id=1338&Itemid=35
When Gerakan was riding high and mighty…any opinions that the Gerakan leaders do not like to hear….were told to resign.
Does DAP also practise such habits?
I for one believe…one who dares to criticise a friend …with substances…is a real good friend.
When I read the minister’s statement “… attracting investors who are pulling out from China because of high costs there…”, the first thing that came to my mind was he has resigned himself to be a second choice investment destination for MNCs. In other words we are now resigned to picking up the crumbs that fell off the table.
Why such defeatist attitudes? By doing so, he has already tacitly admitting that we have lost out to countries such as China, Vietnam etc as investment destinations of choice. In short, FDI has seriously dropped and we are feeling the pinch, contrary to all the public spins put out that we are doing well.
There is a lot of hypes that Arabs are investing in the various economic development regions. But these Arab investments rarely create significant employment or contribute to Malaysia’s economic growth. Most of them are property purchases that the Arabs sees as a quick money making venture which they can resell at a later date.
What this Govt. need to do is to sit down and go back to the drawing boards and rethink, reengineer and rebrand Malaysia as a good investment destination in order to be perceived as a investment destination of choice and not as an afterthought.
Govt too concern with covering their behind to look into the public interest let alone Malaysia’s competitiveness.
Appended below is a piece from RPK which I would like all to share and chew on.
I don’t believe everyone in PKR is like this but it is something we all need to be aware of and watch out for when PKR is leading the PR. The question is is Anwar aware of it, does he condone such ‘cult’ behavior/trend, and, above all, what’s he going to do about it?
We condemn in the strongest terms the manner Anwar was arrested (before the 2pm deadline), treated (unnecessarily spent a night in the lockup), and being deprived of the police report made by the accuser. But, we MUST NOT EVER AGAIN allow our emotion to rule our head when we come to deal with things that affect our nation and the future of our children. … God Bless.
——————————–
The cult called PKR
Written by Super Admin
Sunday, 13 July 2008
THE CORRIDORS OF POWER
Raja Petra Kamarudin
http://72.47.215.31/2008/content/view/9836/84/
all the skeletons in the closet mst be revealed first b4 malaysia can be competitive again.
hahahahaha
what public’s interest?? They (BN) only see for their interest la friend. The day they actually do things for the publics’ interest…thats doomsday in malaysia.
Good Luck to Malaysia!
Well said alan…Good luck Malaysia!!
Greetings! YB
It is time for you and all others PR members to draw a future road map for Malaysia in order to prepare yours for a new government instead. These must come from various sector stated in all the above.
We do not wish to see the step and repeat of the blind leads the blind story when the time is close.
We pray and hope for the “Change”, and country “Stability” count on you.
My dear fellow discussion members and all who care enough to read and reflect:
So much had been said here and elsewhere regarding the state of affairs in the country we call home.
What has come out of all the views and opinions? Surely someone in position would have taken note of all and sundry? And having sieved through whatever there are, the good and the bad, sensible and nonsensical, wise and silly, novel and archaic, workable and impossible, balanced and off-side, etc., etc., where do we go from here?
The leaders do not seem to be doing what are considered to be urgent and rightful for the general good of the rakyat. Money seems to be pumped here and there on an, at best, ad hoc and reactionary basis. The methodologies ( if, any) do not appear to be cohesive and well thought out. It adds to confusion and glaring inefficiencies the manner the country is being administered.
The rakyat surely deserve better. But in the state of confusion and gross neglect what hope and recourse do the rakyat have? Indeed, the average Malaysians are in a state of loss and delusion.
Disappointment and anger is everywhere. Don’t the powers-that-be sense these? Certainly we can do away with denials?
In this climate, how does the government hope to attract foreign investment? If the house is not in order, how could we expect our guests to feel comfortable and confident?
The people must not be mislead to believe in whatever the leaders thought are fundamental and final. Certainly Malaysians of all ethnic background are generally a gentle and sensible lot. It is the so-called leaders who are adding salt to wounds, lacking in wisdom and commonsense, who are doing more harm than good.
From the parliament house to the everyday newspapers, magazines and even the electronic media, one can read and hear ill-balanced articles and writings which serve nothing more than provocation and misinformation. To the uninitiated these could be perceived as gospel truths. Racial strive and tension are, more often than not, borne out of these irresponsible and parochial messages. Where do we draw the line?
Race, ethnicity, religion, culture and customs are sometimes taken out of context and being used as cards and chips in the gamble for a place in our society. For those who profess religious beliefs in whatever form and being God-fearing, religions are not to be brought up at all as no one is questioning their right.
The same goes for one’s ethnic background. No one is questioning the colour of another’s skin. If one cares to note, certain politicians are bent on sensationalizing issues of race and their inherent rights, believing that there are protecting their own kind? Why can’t they be fair and sensible to do good for all? Why have to fight for quotas when they can have it all, if they do it right? Thought we are taught to be meritorious the day we stepped into the place called schools? What do we expect of our kids if we don’t practise what we preach?
I pray that Malaysians would open their eyes and mind in this ever great place called Malaysia, lest we fall further backward in this beautiful and challenging world.
the govt shouldn’t do anything about the economy. They do not have the intellectual prowess or gumption to do so. We’re talking about a govt that can think 10 years ahead of the value curve.
I’m talking about Singapore plonking huge R&D and incentives in biotech when everyone was still going gaga about computerchips and rubber.
I’m talking about South Korea specializing in shipbuilding way back in the 1970’s…..look at these economies now – they are market leaders in their own right, and self-sustaining. These results in value creation and a higher standard of living.
I’m not interested in myopic policies like building bridges, buildings and FDI without any concrete economic vision. It’s so damn passe!
I have yet to see anybody that far-sighted – both from BN or PR.
Will malaysia end up like nigeria, an oil exporter?
With oil prices at record highs, government coffers in the world’s eighth biggest oil exporter are swollen to unprecedented levels.Yet the vast majority of Nigeria’s 140 million people live in no better conditions than their neighbours in West Africa, the least developed region of the world’s poorest continent…
http://www.reuters.com/article/homepageCrisis/idUSL14702123._CH_.2400
Correction:
The rakyat surely deserve better. But in the state of confusion and gross neglect what hope and recourse do the rakyat have? Indeed, the average Malaysians are in a state of loss and disillusioned.
“I have yet to see anybody that far-sighted – both from BN or PR.” Puppy-Power said.
Vote in PR and I will show you. I will not show the BN how it’s done in other countries because all they care about is how much can they steal out of every initiative.
It’s unfortunate that we see the relentless attacks on the BN Ministers and bigwigs. Muhyiddin is the latest casualty.
Hamid Alba has been termed stupid. Please give him a break. The poor man is only doing his job as Home Adornment Minister. Of course there was an impending rally. The reliable intelligence he acquired from Intelligence Quotient 25, (I.Q. 25) not to be taken lightly.
Khir Toyo until now is still within the cross-hairs of opponents. It’s not fair. Didn’t he help in sprucing up Selangor by holding up a broom in public to start a community campaign in cleaning up? As a result the civil servants and the community he gave the brooms to paid back in kind and cleaned up Selangor of dirt and Khir himself. And he was reported (discussed by bewildered Sun reporters) to have said several times to the effect of, “…the funds will be put in the state coffin”. I think Khir will agree when one dies, he or she will be put in a coffer.
As for Muhyiddin, most of you attacked him for being too optimistic, out of touch and not too smart. Au contraire, on the contrary. If I were him, that’s what I will gladly do and go to China – during the Olympics. Meet the investors at the Games at the various exclusive corporate hospitality lounges, namely stadiums, hotels, etc. and enjoy the sumptuous spread of food and drinks and first class treatment. Talk with the investors about the latest scores, medal tally, who’s the favourite to win most medals. And not forgetting to talk about investing in Malaysia – in a few years time when it is stable again and with a new government.
Badak, you forgot one more criteria – abolishing the NEP and Malay equity. You think any idiot will want to bring in RM1 just to “share” 30 sen with the Bumiputras?
All countries require FDI for economic growth. We generally categorise foreign investment into 2 types, foreign portfolio investment and foreign direct investment.The investment that I think Puppy-Power thinks we shouldn’t be having is probably foreign portfolio investment.Portfolio investment is seen as a volatile source of investment because of whims.Investment managers or hedge fund managers can pull money out of one country and put it into another or into gold or dollars and if a lot of such investors do this at once,the coutry could experience a financial crisis.So such investment should obviously best avoided.Foreign direct investment is seen as the more stable source of foreign investment because it is less liquid.In an ideal world,it will also bring additional technologies or management skills to the recipient country.
Having said this, less take a look at the ten most attractive FDI destination in 2007 based on the WORLD INVESTMENT SURVEY by UNCTAD.
(1) China
(2) India
(3) The United States
(4) Russia
(5) Brazil
(6) Vietnam
(7) United Kingdom
(8) Australia
(9) Mexico
(10) Poland and Germany
The UNCTAD result is based on surveying 192 largest transnational corporations,over two-thirds of which expect to expand their foreign
investment annually and by 11% of which confirmed Vietnam would
be their most attractive investment opportunity in the coming years.
So Muhyiddin who mentions about MALAYSIA?It is not in their radar
screen,you id..t. And China has always been top destination since
survey started.So don’t talk c..k again!!
Correction. “So such investment should best be avoided.”.
“Having said this, let us take a look,,,,,,,,,,,,,,,”.
I am so happy to see this country rot and become like Indonesia. While the country goes down the drain, the bumis fight from dusk to dawn over who should rule this shit hole. The Cinas/MCA/Gerakan now just keep quiet like naughty schoolboys who have been sent to the corner. The Indians fight for nothing because they have nothing to fight over. Meanwhile the dumb Malaysians use up all their oil and complain about their cheap subsidized oil being expensive. Wait till the oil runs out and all hell will break loose. UMNO will not be able to give the bumis what they used to have and will take all from the Cinas and Indians will become like slaves and then when there is nothing left to take from the Cinas and all the Indians drop dead, the bumis will burn the country and Cinas/Hindus down just like their brothers the Indos.
My advice to Uncle Kit and his family, you’re wasting your effort. When you’re winning you might end up in ISA or they might just C4 you.
YB Lim,
I never understand this inflation calculation thing. Since Jan 2008
1. Petrol price up more than 40%
2. Average eggs price up 20%
3. Meat, Chicken, pork, mutton and beef up more than 30%
4. Rice up 30%
5. Average a cup of coffee in the mamak store up 20%. From RM 1 to 1.2
6. Average “Chap Fan” up 20%.
7. Even the shaving foam I use is up 20% from the supermarket on sales now.
8. Electricity up 10%
My spending or household usage up easily 20% now.
What the hell is our Minister talking about an inflation rate of 5% this year ?. Does he not know mathematics and never go to the supermarket ?
If they still have this mentailty that everything is under control at 5%, then we are all heading for a tough time. He is so stupid, hedoes not know anything.
Come on, wake up and meet the real world rather than sitting in your tempuring.
Please please economics in the contemporary school of thought teaches us that it is either under state control or otherwise , as we called market determinants
So why r some of us so sucked into the idea that is has to come from the gomen.
What is really needed is relaxation of the strangle hold onto those boilhland horsey from running and galloping to their respective home runs,,,,,,all it needs is market orientated policies, the gomen return to their traditional roles , let us have honest policing
It a change of those policies that most would lile to us happening and it is gravely urgent, i hope some of you can see from that angle.
Not the current hum lan grasped and preferentially partitioned or any of it variants and bull shitting pretending to be smart or intelligent hopefully can impressed some the fence seaters out there.
Thanks bro Ahpek for the info.
Godfather says:
“Vote in PR and I will show you. I will not show the BN how it’s done in other countries because all they care about is how much can they steal out of every initiative”
No offense – but i think you just know how to write good English. U ain’t no Lee Kuan Yee. As for me, I admit – i do not have the brains or the heart to govern. Perhaps u shouldn’t be so quick in blowing that flashy trumpet of yours, greenhorn
ooops typo – lee kuan yew – sorry, my england not so good – i also quite stupid – not so clever like godfather :)
Puppy-Power:
I’ve been called many things in the past, but never as a “greenhorn”. Anyway, I forgive your “england”. If you are not so clever like me, then give way to those who are cleverer. That’s what meritocracy is all about.
sure – i’ll give way to other people that r deserving
just not to you, greenhorn :) didn’t realise u r soooo sensitive…..cheer up, clever one…..the bastion of our brighter future……….
Puppy-Power:
It doesn’t take a genius to realise that if a foreign investor has to give away a minimum of 30 pct of his shares to a bumiputra, and over time if there is a dispute with that bumiputra, the foreign investor will lose his case under an UMNO-controlled judiciary, which foreign investor would be so stupid as to come invest in Bolehland ?
A greenhorn foreign investor ? A puppy foreign investor ?
godfather – no such word as “cleverer”
u cannot stoop to my level of england lah – maintain lah some standard sikit :)….u must raise the bar on meritocracy mah….
malu saja u…….. :)
eh, got Malaysian English mah….local school makes cleverest students….ask people like RealWorld….
…but then my hands are too shaky at my old age to even bother opening a dictionary….so forgive my level of “england” too….
Puppy:
If one doesn’t steal, one should not be malu lah….unfortunately those who steal also tak malu and that is the real problem with Bolehland.
From 23 millions citizen in Malaysia Saiful can manage to get Najib to help him in the sodomy saga. And of all the people he’s related to Pak Lah. The world is really too small.
The biggest impediment to attraction foreign investment is umno and the rubber-stamp bn government. Get rid of umno and the fdi will start to flow in.
Before we forget we must not lose sight of sending the murderers of Altantuya to hell.
Let set a date to commemorate her death. Can anyone suggest a date please.
For an fdi to move in, they will also consider the purchasing power or potential growth in the GNP per capita. There is a rating called GINI & in 2005, we were worst of than Thailand & Indonesia. If people have not enough disposable income, then what economy is there? Just pumping petrol only? I don’t have the facts & figures with me but it’s not difficult to research to find in the past 10-20 years, how much is our growth in GNP per capita income. When we know the figures, the next question is why? We just need to look at 3 key economic factors ie values of each say 20 years ago for:
1. House – say double story link may have increased by 5-6x
2. Car – mid-size family japanese sedan may have increased by 4-5x
3. Salary – graduates increased by x???, not even 2x I think.
How many of us out there were only able to purchase a home – without help from parents – after only working like a dog for over 10 years? By which time, the selling price would have doubled. The interest rate also different.
Essential goods are rising in price. Meanwhile industrial goods have never enjoyed good profit. If profit no good, how to pay better? When economy not good, make things worst. Here’s a simple analogy:
a shop owner wants to increase the staff pay due to their dedication, whatever-lah. business was good, then economy start to slide. the pay rise put on hold. staff personal expenses on the rise due to higher expenses (food, petrol, etc). naturally, staff will cut their spending in order to cover the higher cost of living, not necessarily better standard of living. so, when wages stagnate, cost goes up => ballooning inflation. economy slides further down. something drastic need to be done before we enter intensive care unit (ICU). Right now, the gov love to play firefighter. Must be a deprived childhood.
Just to share with you guys, you can get accurate information for the FDI from the UNCTAD World Investment Report series.
Latest one out is 2007, which compile the year 2006 data
Some interesting fact for FDI inflows from 2004, 2005 , 2006.
(in billions)
Malaysia 4.6, 3.9, 6.0
Singapore 19.8, 15.0, 24.2
Thailand 5.8, 8.9, 9.7
Thailand and Singapore are consistently ahead of Malaysia in terms of FDI from 2004 – 2006. So lets not even bother talking about China whose FDI inflow is 69.4 billion. 10x of Malaysia.
Another interesting fact, in 2006 FDI inflow to Malaysia is 6.0 billion. But check out the FDI outflow (amount of money Malaysian companies invest outside Malaysia). In 2006, Malaysia’s FDI outflow: 6.0 billion.
As much money comes in, seems like same amount of money going out. This is probably in line with my oservations that many local Malaysian companies are themselves shifting operations out to neighbours like Thailand, Indonesia and Vietnam.
katdog,
Your information of the 2006 figures stating an inflow of 6 billion in FDI and also an outflow of FDI (investment of Malaysians in foreign nations) result in a net ZERO in investment capital.In other words there is no enhancement to the Malaysian economy from savings in 2006.
Not only Malaysia loses out to both Thailand and Singapore in the Gini index (this index measures the distribution of wealth) Malaysia is the worst in Asia if not for Papa New Guinea and also loses out to Singapore if you refer to Human Development Index (HDI) as well.These indices indeed the ‘wellness of the nation’, so to speak.
Correction. ‘These indices measure the ‘wellness’ of the nation so to speak.’.
How to compete if the nation is flooded with “jellyfishes” – boneless, spineless and otakless!
which foreign investors wud like to ‘risk’ their investments in a country tat requires to reserve 30% bumi quota(shares,management and staff),and at the same time,paying whopping 28% revenue tax to a dumb gomen?
so,most of the foreigners,expatriates,businessmen are merely speculators,once they opt ‘exit’ simultaneously,our economy will be like a lost- controlled heli plunging into deep blue sea!
Like the recent Nikko Electronics plant…………..and many others!
Shall i say,the BN being the Federal Gomen is very short-sighted,they are implementing a system tat discouraged ppl to come and encouraged ppl to go to other countries!
Damn stupid Barang Naik gomen!
Dear YB LKS,
Exactly, just how does a nation’s PM & MIT who cannot even take care of the National / Domestic Security, the Judiciary, the corruptions , the plight of its Downtrodden citizens, MNIs, Local business, etc with their arrogance & “Ketetuanan” mentality expect to woo those FDIs. As a matter of fact the Foreign Investers have left and are leaving our shores with the present Political climate.
They must be real “Desperados” used to their “Ketetuanan” habits now expect foreign business to “Kow Tow” to them also !
Ofcourse the opportunities are aplenty….but with them still maintaining their “spoilt brat” kampong mentality playing Kindergarten “Hide & Seek” with the DSAI, RPK, etc…how do you expect those “Windfalls” & opportunities to be taken advantage of successfully !
So it becomes just another BN/UMNO rhetorics !
Again this move might shake the Malaysia political structure. I personally feel that PAS and UNMO have one common view, viz. Islamic Country. I am not surprise they make these kind of discussion or even they might merge as one when time come.
YB,
How about the local investor’s?
Federal government only aim the GLC companies, but how about the rest? You know these companies had gone to China, Vietnam, Dubai and etc.
To webmaster: Apologize on wrong posting and please remove my previous comment.
We would not want to condemn the International Trade and Industry Minister, Tan Sri Muhyiddin Yassin, just as yet for his noble intention waiting for the incestors who exited from China. That is like waiting for ‘durian runtuh’.
Those investors who quited China would not come here, the said minister should realize, this country is never a lowest cost producer through the abuse, corruptions, red tape in the administration, inconsistency in policies, discriminating and selective implementation of rule and regulations.
The domestic market in malaysia is extremely small compared to China. If an operation cannot survive in China and has to move out, it cannot surivive in a small market like malaysia. The minister must learn the basic economics to carry out his basic functions, lest be another laughing stock to the people and to the world at large.
Corrigendum:
“Investors” and NOT “Incestors” in line 3 in the above posting. Error regretted.
Error?? May be not. You might be right even in the first instance!
I agree that the goverment has still much to do to improve our competitiveness. But they have done one thing exceptionally right which is increasing the fuel prices. This single act might cause us short term hiccups but will result in long term improvement in terms of increased efficiency and more careful spending.
It also doesn’t help that PR is STILL trying to wrest control of the parliament AFTER the GE has finished. This does not bode well especially in terms of perception overseas. Unethical is one word that comes to mind but maybe Anwar is just too greedy to wait till GE13.
What would help? PR and BN should stop politicking and do what they were elected for: to work for the people and bring Malaysia forward. Reduce politicking and work your best. GE13 will come and we will again make our decisions then.
imranj78, i agree the removal of subsidies is something that should happen.
But there is nothing exceptionally right about the way the increase was done.
Any increase should be done in a gradual and properly planned manner, not an ad hoc decision to suddenly increase the fuel price overnight because the government suddenly realized their coffers were empty. Either the government is too cowardly to announce their intentions clearly and early or they have absolutely no idea what they are doing.
Investors and companies should have been given prior warning to the massive increase in order for them to properly plan their financials. The inflation not only effects individuals like us. Rising inflation is going to put pressure on companies to increase salaries to match the inflation and this is further going to decrease our attractiveness to foreign investors.
katdog,
Agreed that a more gradual reduction of subsidies would be preferable by some. But for me, both gradual or one time reduction in subsidies each have their own pros and cons. Neither strategy is absolutely correct nor wrong. It’s just which path a government wants to follow and how it mitigates the aftermath that is more important.
imranj78 and katdog,
malaysia’s hands are tied with the fuel thing. everyone got dinged big time. i’m sure the complains will be just as loud had the increases be in incremental and frequent. but bn deserved more scrutiny because it is a new export of oil for goodness sake! what it shows is gross mismanagement in all other facets of the economy.
Read this regarding FDI and competitiveness:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ak2MYWhfudTI
net export..