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Explain disparity between ‘actual’ and ‘approved’ FDIs, DAP tells Putrajaya

By Shazwan Mustafa Kamal
The Malaysian Insider
Jun 29, 2011

KUALA LUMPUR, June 29 — The Najib administration must explain the wide disparity between approved foreign direct investments (FDIs) and actual investment figures, the DAP said.

DAP national publicity secretary Tony Pua told reporters that a written reply by the Ministry of Trade and Industry (MITI) revealed that from 1996 to 2010 only RM179.8 billion out of the RM289.9 billion of approved investments had been realised.

“A shocking RM199.1 billion of declared FDI had disappeared without a trace,” he said in a statement today.

The Petaling Jaya Utara MP pointed out that the actual FDI figure in 2010 was RM9.4 billion as opposed to the approved FDI figure of RM29.1 billion.

“The government should not just present only the positive statistics while hiding all the less than rosy stuff from the prying eyes of the public for that will only lead to self-praise and complacency, ensuring longer term decline in our economic performance,” he added.

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22 Replies to “Explain disparity between ‘actual’ and ‘approved’ FDIs, DAP tells Putrajaya”

  1. Aiya, this is called “lying with statistics”. When some foreigner puts in an application, he probably says that the first phase will be 100 million, and that his total investment over the next 10 years could be 10 billion. Of course this is subject to a lot of things that may not happen, and usually does not happen.

    So MITI announces that they have FDI of 10 billion when the investor puts up only 100 million. The difference is called “wishful thinking” but they have hoodwinked the rakyat for the past 30 years. Especially blatant during Mamakthir’s tenure because he liked to hear “good” news.

  2. “The Petaling Jaya Utara MP pointed out that the actual FDI figure in 2010 was RM9.4 billion as opposed to the approved FDI figure of RM29.1 billion.”
    —————————–
    Well, foreign investors eventually rejected Malaysia to opt to invest in another more STABLE country amounting to the difference of unrealized RM9.7 billions. More foreign investors will shun Malaysia when our home minister has even declared its illegal to wear yellow T shirts in the country. What good/stability is left in the country?

  4. Crooks only tell half truths.
    Time and time again the government have been proven crooked….not sincere.
    All Malaysians..especially those that are still blind and support corruptions must wake up to understand the RM199.1 billion stolen or vanished into thin air are also their money.
    When oppositions query for answers…it is for all Malaysians.
    When the government ignores or refuse to respond….it is ignoring all Malaysians.

  5. The RM199.1 billion disappeared when UMNO started to tokkok, obviously.

    now that Perkasa has joined UMNO in the crowing and tokkoking, lesser still FDI will come in. In fact, BNM can confirm the higher outflows of domestic funds as malaysians seek to diversify their assets abroad.

    Don’t blame anyone, just those tokkok-ers.

  6. Why could they then,after so many donkey and mischievous monkey years still capable of ignoring and fooling around with the peopke leh!AR..yah..People!people of Canland,wake up! wake up!we sure can one,truely boleh if we want to change for the better.Amitabha,Jesus Chriss,Alah and whatnot lah.This country is really absurd and becoming so and so..i will say i reserve myself..butoh pak kau,Umno

  7. The RM199.1 billion disappeared after UMNO became delirious and started to talkok, obviously.

    Now that Perkasa has joined UMNO in the crowing and talk-crowing, lesser still FDI will come in. In fact, BNM can confirm the higher outflows of domestic funds as Malaysians, unsettled by the imperiously Imperial Ibrahim Ali, seek to diversify their assets abroad.

    Don’t blame anyone, just those talk-crows.

  8. If I am a foreign investor, I would definitely not select Malaysia since there are so many bad reputations in Malaysia like : corrupted police force, racist government, ISA/ freedom of speech, and in certain states, there are restrictions in liquor and so on so fourth.
    There are so many neighbouring countries who have better governments and investors are all heading there.

  9. Mamakthir must take the blame for this – together with the Fat Lady (not the present one, the previous one). They wanted to bluff the rural folk into believing that we are the best destination for FDI. They wanted to bluff the analysts into thinking that so much foreign money came into Bolehland. All this while, their cronies were quietly taking money OUT of Bolehland.

    So now the fat lady has sung, and all our eyes are opened. Let’s ask Mukhriz what he thinks of his father’s game.

  10. This is what KPI all about, lies with data, more convincing, statistic overshadow the substance.

    Looks like every gov. egencies are lying, Miti lies about FDI, police lies about traffic summons and blacklist after march 2011

  11. born in Malaya :
    If I am a foreign investor, I would definitely not select Malaysia since there are so many bad reputations in Malaysia like : corrupted police force, racist government, ISA/ freedom of speech, and in certain states, there are restrictions in liquor and so on so fourth….
    .

    not forgetting internet censorship

  13. //the actual FDI figure in 2010 was RM9.4 billion as opposed to the approved FDI figure of RM29.1 billion.//

    Jib says, “The higher the figure I give for FDI, the greater my chances of reelection. So simple and you don’t understand.”.

  15. “A shocking RM199.1 billion of declared FDI had disappeared without a trace,” he said in a statement today.
    ————————————–

    You wanna trace!
    You find ways to kick UmnoBN buggers out and haul them in one by one.
    Confiscate all their illgotten gains and you’ll be in for a big surprise of the amount that you can recover.
    Put those “kataks” in the list as well.
    I can guarantee you that Malaysia will be much more richer, even out beating Singapore by then.

  16. This is true umno punya style. Logging success at the earliest point possible which in most instances lies at the time of project announcement / launch and not at the later time of result delivery.

    MSC was pronounced a success and a gift to the world during launch. MACC was pronounced a success also during launch. Jib had hardly warmed his seat in putrajaya and already the effects of his economic policies (although till now still unclear) was declared a success a year or two ago and was in fact given an iconic status with the silly name jibbyonomics (something like that). There are many more examples.

    Those idiots do not know that success or failure as the case may be comes years and sometimes decades later. 40 yrs ago umno decided to be clever and changed the language of instruction in schools to malay. The disastrous effect of that change was not felt until several decades later. Again, the failure of nep and the terrible side-effects of that policy were not felt until, again, decades later.

    Ni semuanya style umno. Tak confident bertemu dengan keputusan yg sebenar. Jadi declare je lah kejayaan se awal mungkin. Actually this too is an ill-effect of nep. Project launch is all that matters to umnoputras now. The final completion and implementation of the project are not important at all. Nep gave birth to this mentality. Nep under dr mamak’s time was morphed into a special interests policy favouring cronies only. Merits, ability and competency were then kicked aside. So umnoputras had to work with and rely on those who have them, i.e. the ability, merits and competency. And so umnoputras reduced themselves to 10% commission agents (for procuring projects). And worse, because commissions is payable upon successful procurement of the projects (by market practice, this means signing of agreement) umnoputras naturally would see their efforts as successful when projects they procured were launched / announced.

    “Ahhh tu dia. Komisen masuk akaun kat luar negeri dulu. Kalau projek tak jadi, tak habis, ada problem tu segala galanya bukan pasal saya. My job is finished.”

    And this in turn gave rise to more ill-effects. (1) It is a super quick way to make lots of money. Hence umnoputras have very little respect for knowledge and ability. (2) Umnoputras became fixated with the need to cook-up all sorts of stupid and unworkable projects. The more the better. (3) Greed has a life of its own for it too can grow. So soon umnoputras began to inflate project costs so that the commission collection is enlarged.

    This thing about inflating the FDI numbers is therefore not unexpected at all.

  17. Case in point. When Bill Gates was appointed to the International Panel of the MSC, Microsoft was supposed to invest hundreds of millions, if not billions in the MSC. As it turned out, MS invested a grand total of RM1 million in Malaysia. And to add injury to insult, it invested S$100 million in Singapore at around the same time.

  18. Where got time 2 look in2 FDIs lah?
    Busy thinking of new ways 2 tangkap/stop yellow Bersih thingy mah
    NR, RM, HH, KJ, IA may hv 2 step out togehter with upheld unsheathed keris while yelling 4 blooood of yellow Bersih

  19. Just a diversion. Anak mamaks of penang causing ruckus to bersih’s press conference in penang.

    Saw this piece of news in FMT. Penned my remarks there which I decided to reproduce here.

    /// More than that. These mamaks looked upon dr mamak an their shinning example and harboured real hope of becoming prime minister of the country after the fall of jibby jib. You see the “rahman” legacy would end with jibby jib. And these mamaks are now working hard to fill the vacancy thereafter. Sadly, umno knows nothing of their (i.e. the mamak’s) real desire. There is nothing wrong with that desire, actually. After all anyone can be prime minister. It is just that umno has been misled to bark up the wrong tree all these while. First, with the fanciful idea on the creation of a “christian country” (whatever that means) and now with the (OMG!) “communist” takeover.

    Let me tell you a secret umno. Russian space scientist said yesterday (june 28) that man would meet aliens sometime in the next 20yrs. So be fearful umno. Be very very fearful. That russian is a space scientist. That means he works with rockets and stuff. See the connection, umno? He is a DAP man. He is a DAP agent in contact with aliens working to overthrow agung and topple umno. ///

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