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Malaysia’s Disastrous Capital Flight

Asia Sentinel
by Our Correspondent
11 JANUARY 2010

Money leaves the country on an unprecedented scale

Churches are not the only thing to have been going up in flames in Malaysia. Take a look at the nation’s foreign exchange reserves. They fell by close to 25 percent during 2009 according to investment bank UBS even though the country continued to run a huge surplus on the current account of its balance of payments.

Says UBS: “Question: which Asian country had the biggest FX losses in 2009?” The answer is Malaysia and by a very large margin; we estimate that official reserves fell by well more than one quarter on a valuation-adjusted basis”. It describes the situation as “bizarre” and contrasts Malaysia with other countries with large current account surpluses – Thailand, China, Taiwan, Singapore, and Hong Kong – which have seen their reserves increase – as should be expected.

In short there has been an exodus of money from Malaysia on a scale which surpasses that which occurred during the Asian crisis. Nor is this just a mirage. The decline is also reflected in a sudden decline in base money supply – even while, thanks to Bank Negara, broader M2 has continued to grow modestly. Continue reading “Malaysia’s Disastrous Capital Flight”

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‘Allah’ allowed in East M’sia

by Phyllis Wong and Francis Chan | Borneo Post
January 15, 2010, Friday

Nazri says govt recognises two states’ traditional usage of word

KUALA LUMPUR: The word ‘Allah’ is allowed to be used by Christians in Sarawak and Sabah because the government accepts that the natives in these two states have traditionally been using it in their prayers and religious services and the Muslims there are accustomed to this practice.

This was stated by Datuk Seri Mohamed Nazri Abdul Aziz, the Minister in the Prime Minister’s Department, in an exclusive interview with the KTS stable of dailies The Borneo Post, Oriental Daily and Utusan Borneo at his office here yesterday.

“Christians in Sarawak and Sabah need not worry over this issue because it is a common tradition there. I have been to an Iban church service and I heard the word ‘Allah’ used there,” he said.
Continue reading “‘Allah’ allowed in East M’sia”

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Pornthip did not leak info

Inquest adjourned 4half hour 4karpal 2submit precedents on law of contempt
01/15/2010 11:23 AM

Razak apologised but Karpal said apology only go to mitigation n court must commit Razak 4contempt Karpal said Razak’s apology insincere
01/15/2010 10:58 AM

Karpal said in insulting another counsel n all Malaysians in wheelchair Razak had committed contempt in the face of the court
01/15/2010 10:49 AM

Blowup in ct over Macc counsel Razak’s offensive insult agnst Karpal when saying: I can sit down but Karpal cannot stand up.
01/15/2010 10:46 AM
Continue reading “Pornthip did not leak info”

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Why Muhyiddin go to UK to urge the return of the “best brains” while completely blind, unconcerned and insensitive to the loss of “best brains” to neighbouring Singapore or the 300,000 Malaysians who emigrated since last general election?

Deputy Prime Minister Tan Sri Muhyiddin Yassin went to London to urge the “best brains” working abroad to return home and drive the country’s new economic model, but he had been thunderously silent in the past five days at the news from across the causeway that two Malaysians topped the 2009 Singapore-Cambridge General Certificate of Education (Ordinary Level) Examination.

The question Muhyiddin must answer is why go all the way to the United Kingdom to urge the return of the “best brains” while he is completely blind, unconcerned and insensitive to the loss of the “best brains” to neighbouring Singapore or the 300,000 Malaysians who emigrated since last general election?

On Monday, it was reported in Singapore that Lai Kai Rou, 16, from Selangor, emerged tops in the island republic, scoring 10A1s. She studied at CHIJ St. Nicholas Girls’ School (SNGS) which also topped Singapore schools with 14 of the 42 island-republic’s best scorers being its students, scoring 9 A1s.
Continue reading “Why Muhyiddin go to UK to urge the return of the “best brains” while completely blind, unconcerned and insensitive to the loss of “best brains” to neighbouring Singapore or the 300,000 Malaysians who emigrated since last general election?”