Posted on by Kit

Najib adopting extraordinary construction methods – building his 1Malaysia house with roof first then pillars without floor as NEM Part 2 has been deferred further from 10th Malaysia Plan to third quarter of the year

(Updated)

1. Ballooning budget deficit – Parliament has been presented with two sets of supplementary estimates, the second supplementary estimates for 2009 totalling RM11.36 billion (i.e. RM8.98 billion for Operating and RM2.39 billion for Development), after the earlier first RM10 billion supplementary estimates and the first supplementary estimates for 2010 totalling RM12 billion for both operating and development.

We are debating the second supplementary estimates for 2009 Budget which will be followed by the debate on the first supplementary estimates fo 2010 Budget.

These two sets of supplementary estimates before the current meeting of Parliament are most surprising, as the country was told by the Prime Minister cum Finance Minister Datuk Seri Najib Razak when presenting the 2010 budget on 23rd October 2009 that the fiscal budget of the Federal Government had reached a peak at 7.4% of GDP in 2009, and that the fiscal budget is expected to decline to 5.6% of GDP in 2010.

With these two sets of supplementary estimates, Malaysia’s budgeting has again gone awry with the budget deficit in 2009 shooting to as high as 7.9 per cent of GDP in 2009 and over 7% in 2010.

A full explanation for this fiscal indiscipline and even irresponsibility should be given, as this is proof of imprudent control of public expenditure amidst inefficient utilization of the nation’s financial resources.

For instance, RM32 million is allocated in the 2009 Development Supplementary Estimates for the purchases of aircrafts for the police, which apart from allowing the Inspector-General of Police and top police officers to work in style makes no contribution whatsoever in the campaign to fight crime to make the country safe to work and play by Malaysians, tourist and investors.

The RM34 million would be better spent in purchasing say some 68,000 bicycles or 6,800 Honda cubs for all the police stations in the country to increase police visibility with frequent police beats, which is the best and most effective way to combat combat crime to keep the people in the streets, public places and private homes free from crime and the fear of crime!

2. The greatest tragedy of the country’s development history is the marginalization of rural and urban groups denied equal treatment as full-fledged Malaysian citizens – not only in Sabah and Sarawak but also in Peninsular Malaysia. One such group are the people in Pekan Kaki Bukit and Pekan Sayor Kaki Bukit which I visited over the weekend, to hear their tale of marginalization where the close to 1,000 people in the two areas have been living in their homes, some for three and even four generations for some 70 – 80 years without land titles. The the MP for Padang Besar, Datuk Seri Azmi Khalid is the Chairman of the Public Accounts Committee and former Minister is four-term MP for the area since 1995. How could he allow such gross injustice totally against the spirit of 1Malaysia to continue unchecked for the 15 years he was the MP for the area?

3. Now we are told that all this will be addressed in the New Economic Model unveiled by the Prime Minister on 30th March to enable Malaysia to escape the middle-income trap for the past decade and transform Malaysia into a high-income advanced nation with inclusiveness and sustainability.

When Datuk Seri Najib Razak became Prime Minister last April, he announced that the government would introduce a new economic model for the country to ensure that Malaysia makes a quantum leap to escape the middle-income trap to become a high-income country through greater emphasis on innovation, creativity and competitiveness.

In May last year, the Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah said the new economic model would be announced in the second half of the year.

Time is clearly of the critical essence to launch a new economic model as Husni subsequently admitted in a very frank speech in December that the country had lost a decade in economic stagnation.

In actual fact, the World Bank had recommended that Malaysia adopt a new economic model three years ago, stressing that industrial countries are already aiming for economic model 3.0, and with competition at economic model 1.0 intensifying, striving to achieve economic model 2.0 is not an option for Malaysia but a necessity.

The government has to explain why the World Bank’s advice that Malaysia migrate to a new economic model 2.0 was ignored for three years, losing more precious time for Malaysia to catch up in the international competitiveness race when the country had become a straggler as compared to other countries.

But there is more flip-flops and procrastination. The New Economic Model was not fully released on March 30, only Part I with Part 2 promised when the Tenth Malaysia Plan is presented in Parliament and launched in June this year.

Najib has described his 1Malaysia concept has the roof of the Malaysia he is building, the Government Transformation Programme and the NEM as the two pillars, while the Tenth Malaysia Plan the floor, the basis where all Malaysians will move forward.

But there has been further delays and procrastination as the short-lived promise of the publication of Part II of the NEM has now been further deferred from June to the quarter of the year, according to the National Economic Advisory Council Chairman Tan Sri Amirsham A. Aziz.

So when Parliament meets in June to approve the Tenth Malaysia Plan, the floor of the 1Malaysia house will not be ready – which undoubtedly is going to create problems apart from the extraordinary construction method Najib has adopted like building castles in the air – the roof first, then the pillars and without the floor!

Actually there is nothing much new in the NEM which is 10 years too late. This is because many of the things proposed in the NEM had actually been proposed at various times in the past decade.

Former Prime Minister, Datuk Seri Abdullah Ahmad Badawi, for instance, in his speech to the Harvard Club in May 2005 said that Malaysia must rid of three addictions if it is to be a developed nation, namely cheap foreign labour, subsidies and rent-seeking.

But nothing has been done to resolve these “addictions” apart from making diagnosis of the ills of the Malaysian economy. In fact, we have many rent-seekers among Barisan Nasional MPs in this House!

In 2002, when launching the Knowledge-Based Economy Master plan also described as Strategic Initiative One of the 21st Century, the then Prime Minister, Datuk Seri Dr. Mahathir wrote in the foreword:

“Recognising the critical need for knowledge as input, Malaysia has embarked on the transformation from an input-driven growth strategy that had served her well in the past to one that is increasingly driven by knowledge in order to achieve sustainable high growth and development, The intention to migrate from a production based economy to a knowledge-based economy and the development of a Master Plan to chart the strategic direction towards the knowledge-based economy were first announced in Budget 2000. Prior to this, the Government has, however, adopted several initiatives aimed at developing Malaysia into a knowledge-based economy. Of significance was the establishment of the Multimedia Super Corridor (MSC) in 1996, providing world-class facilities to foster the development of high technology and innovations for both domestic and foreign companies and the implementation of several flagship applications, including the multi-purpose card, smart schools, telehealth, E-government and technopreneur development as well as the provision of tax incentives to promote an information technology-savvy society.

“The Knowledge-based Economy Master Plan marks yet another key initiative of the Government to further accelerate the development of the nation into a knowledge-based economy as well as in achieving the objectives of Vision 2020. The Master Plan provides a strategic framework outlining the changes to the fundamentals of the economy. It articulates a vision and mission besides prescribing seven critical areas with a total of 136 recommendations that need to be addressed in moving forward to the knowledge-based economy. It is noted that several recommendations of the Master Plan have already and continue to be addressed and implemented by the Government.”

Let us look at some of the 136 recommendations in seven critical areas made by the Knowledge-based Economy Master Plan to move Malaysia forward to an knowledged-based economy before 2010, viz:

  • Put in place, by 2005, the e-education enabling environment for the entire education system;

  • Prepare by 2002, all universities for professional assessment and rating;

  • Step up measures to recruit those with Ph.D. qualifications into universities and set a target that by 2010 all academicians in all public universities will have a Ph.D qualification.

  • Develop Malaysia as a centre of excellence in education and training.

  • Grant automatic work permits and right of abode to top-level foreign talents.

  • Grant right of abode to Asian/world class talents in all creative fields.

  • Develop management of human resources based on competency.

  • Attract some of the best brains into the public sector.

  • Improve English language capabilities.

  • Enhance access: Wire and electrify every nook and corner of Malaysia.

  • Enhance access: Provide PC and Internet access to all schools.

The Knowledge-Based Economy Master Plan a decade ago was a total failure and that is why the NEM today has to recycle many of the proposals made then.

In the past decade, with many reports and plans, Malaysia is not short of analysis and solutions to the ills of the Malaysian economy, but what is lacking is the political will to walk the talk and to implement them.

As a result, Malaysia is faced with a full-blown national-building and economic crisis after a lost decade of economic stagnation.

How serious is this crisis. Lets us refer to the New Economic Model (Ch. 2, p. 41) for a description of this Malaysian crisis:

  1. Economic stagnation – “What little life remains in Malaysia investment (since 1997) has come from state direction rather than private strength; in the decade after 1997, private investment as a fraction of GDP declined to less than one third of its pre-1997 peak.

  2. Structural weaknesses in Malaysia’s path of economic development – depleting resources; difficulty in doing businesses; sluggish bureaucracy no longer fit for purpose in a fast-moving world;

  3. A disastrous exodus of human capital has flowed from the perception that in Malaysia’s labour markets, rewards have historically not been commensurate with skills, achievements and merits. Perhaps half a million talented Malaysians now live and work outside the country – 50% of them educated up to tertiary level, all embodying valuable skills no longer available to contribute to economic development in the country. Since 2000, the number of expatriates working in Malaysia has declined 9% a year.

  4. Malaysia has reached a defining moment in its development path. It risks beings left behind or worse still, suffering a reversal in living standards unless it implements far-reaching and comprehensive reforms. Economic policies to date are no longer keeping Malaysia competitive enough, regionally and globally, to generate sufficient growth.

The NEAC ended Chapter 2 will the warning “We must act now before our position deteriorates any further” and devotes the final chapter, Ch. 7 on “The time for change is now – Malaysia deserves no less”.

But there is a total absence of urgency on the government’s part, which explains why the NEM report is not even presented in the House (we have only the Executive Summary) when there should be a full-debate,

This represent one of the three factors which NEAC has warned could cause the failure of NEM.

To quote the NEM (p. 110):

“Three factors may explain such failures. The first is insufficient buy-in by stakeholders affected by the required reform measures because they were not engaged at the policy formation stage.”

When there is no effort to “buy-in” the support of Parliament, by tabling the NEM and having a special debate on it, how could anyone expect that NEM would get larger national or civil society support.

(to be contd)

[Speech (Part 1) by DAP Parliamentary Leader and MP for Ipoh Timor Lim Kit Siang on the 2009 Supplementary Estimates in Dewan Rakyat on Tuesday April 6, 2010]

36 Replies to “Najib adopting extraordinary construction methods – building his 1Malaysia house with roof first then pillars without floor as NEM Part 2 has been deferred further from 10th Malaysia Plan to third quarter of the year”

  1. Irresponsible spending as a result of (1) bowing to special interest groups (2) bailing out failed projects and (3) poor planning and budgetting. They still find ways to make promises at ‘Buy-elections’.

    Why do you think that Najib is seriously looking at a US$2 billion bond issue ?

  2. “…his 1Malaysia concept has the roof of the Malaysia he is building, the Government Transformation Programme and the NEM as the two pillars, while the Tenth Malaysia Plan the floor, the basis where all Malaysians will move forward.”

    What? No doors and windows? Then all the money will fly out in no time! The same way as the mamak “lost” RM1000 billion!

  3. NEM is but a fairy tale.

    Remember how that little piggy built a house of straws? The big bad wolf then came and huffed and puffed away and the house of straws came tumbling down.

    And the poor little piggy got eaten up.

    Who’s the wolf? What’s the moral of the story?

  4. /// Najib has described his 1Malaysia concept has the roof of the Malaysia he is building, the Government Transformation Programme and the NEM as the two pillars, while the Tenth Malaysia Plan the floor, the basis where all Malaysians will move forward. ///

    I would hate to live in a house constructed with only 2 pillars. No wonder the 1Malaysia roof is wobbling – any house with only 2 pillar is inherently unstable.

  5. ///A full explanation for this fiscal indiscipline and even irresponsibility should be given, as this is proof of imprudent control of public expenditure amidst inefficient utilization of the nation’s financial resources./// (Kit)

    The vanished money could have gone into the RM32 million promised for the Hulu Selangor by-election housing project, involving 250 units, on a 14ha site at Soeharto Felda.

    I am not surprised if Malaysia becomes another Greece under BN because the coalition is notorious for mismanagement and unbridled spending of public funds.

  7. “….the extraordinary construction method Najib has adopted….”

    We are well knowned globally for our engineering prowess.

    That’s why we have so many abandoned housing and building projects.

    And stadiums that collapsed. Flyovers that cracked. Hospitals unfit for use. Landslides. Etc. All at exorbitant costs.

    Our building motto: The shortest distance between two points is a crooked bridge.

  8. Of course the roof is to be constructed and financed transparently. The rest of the building you don’t see has already been given to UMNO. Money has changed hands. They are now negotiating with sub-sub-subcontractors.

  9. “…adopting extraordinary construction methods – building his 1Malaysia house with roof first then pillars without floor….”

    My honorable LKS, that’s the best shot!!! I like it…..

    What can we expect from this “pussi-kuching” and the bunch of suckers to run and lead our nation??? They often pull down their pants and fart freely without facing any Sedition Acts or ISA??? Most shameful thing, “acquiring the billion dollars submarine cannot dive???”

  12. You want to know why part II of NEM is not ready? Simple, the ground is shifting, so the model must be changed accordingly to go back to the old way of sucking and milking this country dry, got it? Who care about 1Malaysia and inclusiveness anyway. It is a temporary roof put up during the storm.

  13. chengho :Thinking outside the box Kit

    The ballot box?

    “Najib adopting extraordinary construction methods – building his 1Malaysia house with roof first then pillars without floor as NEM Part 2 has been deferred further from 10th Malaysia Plan to third quarter of the year”

    There’s no point in trying to construct even the nicest looking building or structure in the world if the foundations are not strong enough…

  14. I have said many times here that Najib is a con man, a liar, a charlatan, a road-side medicine peddler and a play actor.
    Only fools will trust or believe him. He lives in a world of his own.
    Some one just said that Najib is ‘Kaki kong, kaki song’.

    Only he is enthralled by his own speeches. Even his deputy doesn’t care what he says. He is in a dreamland and talks in his sleep all the time.

  16. The rationale of article 153 in the constitution was precisely to help those in the lowest income group. The framers of the constitution considered it difficult then to identify the persons who belong to that lowest income group, and took the easy way out to group Malays as representing the lowest income group to be provided special assistance. They erred in providing a slipshod definition on the term “Malay” which ended with an ever increasing number of persons to be included for assistance. It allowed newcomers of Islamic faith to be accorded the special assistance over Malaysians whose ancestors have been here since umpteen generations ago. Some newly qualified Malay would not even accept the status of the nationality as Malaysian but insisted that they are Malay first. Malaysians of different races in the country did not have any conflict in terms of religion, culture or prejudice. They are torn apart merely because as Malays, they are given preferential treatment whether they were deserving of such assistance or not compared to the weaker sector of other races. It used to be a stigma to belong to the social group that needed assistance. However, ever since May 13, UMNO leaders have changed the mindset of Malays to think that they were given the preferential treatment because of their number. That their number allowed them to bully the minority group was why UMNO members are so numerous. Thus Malaysians witnessed the display of Malay keris and the call for the keris to be used and the threat for a repeat of May 13 in UMNO general assembly.

    May 13 brought NEP into government policy. NEP was unconstitutional in its implementation. It included the reservation of 100% of the seats of learning to Malays, even to the exclusion of natives of Sabah and Sarawak who, according to article 153, are the beneficiary of the reasonable proportion of learning opportunities, for example. The special discount of housing prices for Bumiputras is against the constitution. Yet the perverted rule introduced during Mamakthir’s regime still remains after Mamakthir is no longer in power. Are Malaysians to wait for his departure from this world to have that policy terminated?

    Mamakthir used NEP as an excuse to award contracts without public tender. That started the multiple-subcontract systems. Apart from paying multiple folds in project prices, we saw the collapse of the stadium in Trengganu soon after it was declared open. And more recently, the university building in Trenggau collapsed while it was being built. The workers were mostly foreigners and they must be facing the most risky construction work in the world working in Malaysia. Soon they should be buying protection insurance under NEP risks working in Malaysia.

    We heard the Minister of Works confirming in the parliament that the highway of 150 kilometres length in Sabah was planned to be a gravel road. That might be useful for training horses in Sabah, and it certainly is not good even for MPVs. Interestingly the contractor of that ringgit 500 million road was a member of a royal family. Another member of another royal family was said to be involved in constructing a hospital in Shah Alam for the amount of around Ringgit 500 million. Malaysian should thank the royal households for providing entrepreneurs to take up government contracts of sub-billion ringgit projects. The ordinary Malays are now experts in performing as class F contractors. One wonders what would happen if Tengku Razaleigh was wrong, and that Petronas did not find new oil field around Malaysia, and soon those entrepreneurs have no more government projects to work on. Was Najib in the know of the new oil find that he thought nothing of incurring double digit deficit in the budget?

    Najib declared that the 30% requirement of equity capital for new investors has eased. But he still has not honoured the promise made in 2006 that the EPU would refute the finding of ASLI that Malays’ ownership of equity share capital had in fact exceeded 30% long ago.

    The late Tun Razak promised at the time when NEP was launched that NEP would be implemented for 20 years. NEP objective was clear and its implementation was more discriminatory than what was provided under article 153. Razak listed 30% of Malays participation in commerce and industries as the objective of NEP. Thus the target and the duration of 20 years should be the basis to end NEP, which ever comes first. Since UMNO has adopted the Ketuanan Melayu, Malay first policy, Razak’s promise should be honoured even if the target of 20 years and 30 percent are taken to be whichever comes later. UMNO has not honoured the 20-year promise. It should honour the target achievement of 30%, and stop NEP. Najib cannot pretend to claim that he is being liberal by not insisting the 30% equity requirement now. He should make a final assessment of whether the 30% has in fact been achieved. If so, NEP should cease along with all government regulation which came with NEP.

    When Razak mentioned the 30%, it was only logical to mean that the quantum should be 30% of the value of equity stocks in 1970 when the computation of share capital was made. UMNO speaking with strength would choose to state the 30% to be of current value. In which case, the 20 years duration should have been honoured.

    The so-called special privilege under article 153 was meant to be for the duration of 15 years, so that whatever advantage the urban population had over the rural people could be bridged. Indeed with the ‘over-correction’ implemented by UMNO, the non-Malays now need the protection of article 153 so that it would be unconstitutional for UMNO to reserve more than the reasonable portion of opportunities to be given exclusively to Malays.

    We do not know whether Najib has the interest of the nation at heart. If he has, then he should be thinking of how this country blessed, or cursed, with its multi-ethnicity, would be developed into something that he as leader could be proud of. Unless, he is Malay racist and he wants to see ethnic cleansing in this country.

    This country stays behind as low income country because all but a small portion of brain power that the country has produced has gone overseas. They leave at the time the world enters into technological revolution, and Malaysia got stuck into the low knowledge-based industries. The non-Malays only ask that the country revert back to the time when Mamakthir had no influence on Malay mindset. If NEP is stopped now, Malaysia only makes a late start of 40 years. If NEP persists, Malaysia will only regress further.

    There will be no riots if NEP is withdrawn. Some Malay voters who support Mahathir and Ibrahim Ali might not want the end of NEP. But if they knew that NEP was more beneficial to NEWMalays than to the original Malays, they will accept the opportunity to bring back their honour like what the late Tun Dr. Ismail considered that pride is of value to Malays too.

  17. umno style
    1malaysia
    umnoputra didahulukan
    pencapaian wang ringgit diutamakan
    the star monday 5 april 2010
    Kota Kinabalu; Burglars escaped with a pistol and bullets whenthey broke into the house of a state assemblyman in Luyang here. The burglars also escaped with about RM40000 cash, jewellery, a watch and keys to the Mercedes belonging to the assemblyman in the 4am break in yesterday. The Umno assemblyman…….. alahai ahli umno rupanya. kepada perompak perompak yang arif rompaklah rumah ahli ahli umno yang penuh dengan cash di rumah mereka, janganlah merompak rumah rakyat jelata yang biasa biasa…

  18. So clearly jib is genius. You see what he did is actually known in the construction industry as top-down construction method. Parts of the singapore mrt was constructed this way. Wow jib, your good man. The top part of the mrt section which was build using this method actually had support from the sides. Oh that was nothing compared to what jib is doing. Jib’s top – his roof – is suspended in air without supports of props. I bet he got some UiTM scientists to blast a continuous stream of supersonic sound bubbles to the underside of the roof to keep it afloat in air whilst the supports are being constructed underneath it.

    Now the 12.5billion PKFZ project suddenly make some sense doesnt it? Wow.

  19. LKS, it’s easy to speak and complaint when you are on the other side isn’t it? As a matter of fact, for the past 2 years since PR gained some ground, the best thing that PR has done is complaint and complaint non stop! At first it was interesting but by this time, enough is enough!! Voters are looking for something better, more constructive from PR and I must say that many of us who voted you in are now disappointed!!!

    Whether we like it or not, NEM is a step in the right direction. You cannot make changes overnight. Najib knows this and you know this too but you being you and PR being PR, political games and charades are just irresistible means of getting political mileage! Get out of your opposition mindset! We expect more from PR!

  20. Hi imranj78,though PR controls 4 state governments,but the central/federal government is still in the hand of Umno/Bn.You can’t deny that YB Lim Kit Siang is voicing out for the people on federal policy/issue which he thinks is not acceptable. Don’t forget he holds no position in all four PR control states,hence he’s doing the right thing as an opposition spokeman for PR both in and out side of parliament. I think without him,you and I won’t be so free to write in this blog,hence I think you should encourage him to voice out more offen rather than discouraged and criticised him unneccessarily. Please don’t forget everything is like a coin has two sides,and NEM is no exceptional.NR has revealed his side,why not let YB Lim states his side.Don’t you believe in demoncray and freedom of speech ?

  22. Wrong YB.

    The most crucial part of a house is the FOUNDATION. Without a solid foundation, it will all come tumbling down like a pack of cards even in the gentlest of breezes!!

    That’s Najib’s fictitious 1 M’sia coupled with PERKOSONG’s racism and religious bigotry!

    dpp
    We are all of 1 race, the Human Race

  23. Najib adopting extraordinary construction methods – building his 1Malaysia house with roof first then pillars without floor as NEM Part 2 has been deferred further from 10th Malaysia Plan to third quarter of the year..and so on and on..with others'(fruitless-no ending plans) to compete and stay above middle income citizens to be par with universal’s comparison.Ciak sai lah=Eat shit
    I read in some articles and admire this true without crutch-aid malays who want A”CHANGE” for malaysia till we can be proud of MALAYSIAN FIRST like any other worlds’citizens.
    How nice and supposed to be in nature spirit of malaysian if we could claim ourself like any other folks in this world and say, hai”I’am malaysian,my name is..ahmad kah? ah beng kah? muttu kah?,where r you from?”
    Tom and harry:”I’m,am,am,english,arabian,chinese or so on..(without confusion of belonging to any races in order to get free* foods* and *drinks).
    Everyone is counted to contribute to this country to stand tall and to say “I’m “MALAYSIAN FIRST” with lion pride.Totally self confident to move forward with no aid unless handicaped.No offence!

  24. imran78: LKS, it’s easy to speak and complaint when you are on the other side isn’t it?
    Malaysian:Hai imran78,isn’t it much more easier to speak and complaint like um.no.way isn’t it?Biggest twist tounqe=1MALAYSIA FIRST then to 1MALAY FISRT.Apa ni ni!!!Tak paham lagi kah!!Aah yah..!! At first it was *not* interesting though but by this time,more hopeless, enough is enough. I must say that many of us who voted you in are now hopeless case.We will go for CHANGE even if you stay put to be aided

  25. Malaysia is governed by people who behave like toll-road concession holders. They will put up signboards that let you go round and round paying tolls all the way. Can you trust them? I don’t. Please wake up my friends!

  26. Hanjin Chengho, I thought you were busying with your extra paychecks from your MCA, Dr Chua SL…

    Hanjin Chengho advised LKS to think outside of the box so that BN/UMNO & Hanjin Chengho can think inside of the box to swindle & pocket more….

    Hanjin Chengho pulldown your pant and fart freely, huh!

    Disgraceful your ancestors!!! When time comes, you will be skinned off as you’re not Chinese!

  27. If you are lazy or born lazy with bad genes, you will eventually end up in the caves, padi-fields and fishing village, and spend the rest of your lives inside the coconut shell. The destrutive effect of NEP drugs cannot be reversed, and will wipe out the entire generation with time.

  28. What 1malaysia means? It means it is ok for umno to court enemies of the state, the israelis, but not ok to accord better treatment to lawful citizens of the state, the unpriviledged lot like the rest of us non-umnoputras.

  29. “You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.”, Abraham Lincoln </>

    BN/UMNO & bunch of suckers, such as Hanjin Chengho, please this world leader quote into your brains instead of your as*ses???

  30. Malaysian has to address its deficit urgently and we simply could not afford to be complacent anymore.

    The deficit was simply the legacy left by no other than Tun M. The oil money and the handsome collection of taxes has all wasted and most of it has been lost due to leakage and rampant corruption.

    The wise man and business tycoon will simply pack and go.

    The accumulated deficit will have not choice but to be bear by the men in the street. Like it or not GSt is one of the weapon that has to be used to check the deficit.

    PR should oppose GST and let BN start it so than when PR take over people will not put blame on them. Other wise PR will have no choice and use GST when PR come to power.

    The ideal circumstance was to built up a higher national income earning before the implementation of GSt but since BN has badly managed the finances thus come to this sad stage that they have no choice but implement GST while most of the people still suffering from low income.

    If you wish to blame GST let put it on BN this their own making

  31. In his new house, NR welcomes adulterers, racists, corrupt practitioners, murderers
    His house motto is ‘It’s OK to do what u r doing n try not 2 get caught’
    Even got caught pun OK lah, no big deal, eg, only naked bodies, so what
    D mesej fr BN 2 young n old ppl: it’s OK 2 cheat your spouse, it’s OK 2 fcuk around, it’s OK 2 murder, it’s Ok 2 steal rakyat’s money, it’s OK 2 b racists
    Semua boleh, no problemo, as long as u r BNputras, u will b rewarded

  32. MACAM THE PRIVILEGED AND UNCHALLENGED CONTRACTORS…END OF THE DAY, YOU WILL FIND MANY DEFECTS AND COLLAPSED ‘BUILDINGS’.

    Bottom line, Malaysian taxpayers are the Biggest Suckers!…MEN ON CLUTCHES GO LAUGHING TO THE BANKS.

  33. If UMNO chooses to interpret that the target of 30% should be based on the ‘current’ value of equity holding, then that 30% should be based on the total equity share capital in the country at the end of 20 years after NEP had been in force, i.e in1990. The value of Malays’ ownership if properly computed would have confirmed that the 30% target had already been achieved in 1990 itself.

    The government used its own computation formula and insisted that that target has not been achieved then. Now 20 years after NEP should have ended, the government should state whether the ownership of share capital held by Malays directly or held in trust for Malays had already attained the 30% level of the total share capital in 1990, 20 years after NEP was in force. It would be unfair to move the goal post of NEP target equating it to the current year after NEP had been unfairly extended. And worse, the government had not kept to the promise to refute the study made by ASLI which stated that Malays’ ownership have exceeded 30% of the total share capital in 2006, the current value 16 years after NEP had ended. There is no doubt at all that by 2006, Malays’ share had far exceeded the 30% of the total equity share capital as at 1990, even if it was based on the nominal value as the government claimed that that was the basis EPU computes the data. Najib certainly has the latest figure since EPU computes the data at least on an annual basis.

    Abdullah the then PM made the promise to reveal the methodology adopted by EPU on equity computation in late 2006 and he never honoured it until he retired last year. Najib as DPM made the same promise in 2006 and has not honoured it even after having been a year now as PM.

    Najib has the responsibility to honour the promise made by his late father, now that he is given the opportunity to do so.

  34. As long as the crutches are not removed, the NEM will fail as miserably as the NEP.

    RPK asked in Malaysia Today “What is the real cost of the NEP?” and came up with a guesstimate of RM500 billion.

    That RM500 billion might be a gross underestimate. One approach is to compare Malaysia with Singapore (I know, I know, UMNO hates this comparison).

    In the year BN (Before NEP and not Barisan Nasional), the MY and SG economy, per capita GDP and currencies were quite similar. Therefore, we can take it that the real cost of the NEP would be difference in the economic performance, factoring in the respective external debt and foreign reserves.

    MY’s GDP = US$207.4 billion (official exchange rate), population of 25.715 million, giving a per capita GDP of US$8,065. MY’s external debt = US$48.26 billion; foreign reserves = US$98.02 billion.

    SG’s GDP = US$163.1 billion (official exchange rate), population of 4.657 million, giving a per capita GDP of US$35,022. SG’s external debt = US$19.20 billion; foreign reserves = US$187.80 billion.

    Assuming without the NEP, MY’s performance can match SG’s. Therefore, the GDP forgone = 25.715 million x (35,022 – 8,065) = US$693.20 billion.

    MY clocked up US$29.06 billion (48.26 – 19.20) more external debt than SG.

    SG has US$89.78 billion (187.80 – 98.02) more in foreign reserves.

    Total Cost of NEP = 693.2 + 29.06 + 89.78 = US$812.04 billion, or RM2,604.62 billion.

    Now, this is not taking into consideration the abundance of petroleum, LNG. tin, basalt, rubber, palm oil, timber, etc.

    So, the RM2,604 billion cost of the NEP is likely to be a gross underestimate.

    Okay, let’s be realistic and assume that the people and leaders of MY are half as clever, hard working or competitive as SG.

    The Cost of NEP = RM1,302 billion.

    What, you mean the leaders of MY are only one quarter of those of SG? Be that as it may.

    The Cost of NEP = RM651 billion.

    https://www.cia.gov/library/publications/the-world-factbook/geos/my.html

  35. ///The Cost of NEP = RM651 billion.///

    That was only GDP for one year. NEP has been in force for 40 years. Two million employable and good tax paying citizens have become foreigners. If they have stayed, and each produces on average half a million ringgit worth of wealth in Malaysia over their lifetime, that adds to a trillion ringgit. What about the flow in the economy with the increase in GDP over those period? We are talking about an economy with a per capital GDP the size of Japan foregone. But for others who like to be called Malay first, when Malays included more of NEWMalays than the original of Tun Dr Ismail or Ghafar Baba Malays, they would say “what for”, if the percentage of them are not high to reach the purity level.

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