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Posts Tagged ‘ASEAN’

M’sia right to fear Chinese gifts

In China, Malaysia on 20/07/2018 at 4:05 am

Because they are Indian givers, as this highway to nowhere proves https://www.reuters.com/article/us-china-silkroad-europe-montenegro-insi/chinese-highway-to-nowhere-haunts-montenegro-idUSKBN1K60QX

Bringing in Chinese companies to build billions of dollars worth of freeways never seemed like a good idea in Montenegro, a southern European country of just over 600,000 people. But now the debt load of one such project has forced the country to freeze some public sector wages and even end a government benefit for mothers.

 

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M’sia undecided on HSR

In Infrastructure, Malaysia on 19/07/2018 at 4:35 am

So how can Tun say S’pore knows what M’sia wants? Senile. Sad.

Malaysia’s Economic Affairs Minister Mohamed Azmin Ali. said that Malaysia has not excluded the possibility of the project continuing, but will not make any suggestions unless there is a consensus from both countries.

https://www.theedgesingapore.com/malaysia-lead-delegation-singapore-discuss-fate-hsr-project

More from Edge.

Malaysia will soon have a discussion with Singapore regarding the high-speed rail (HSR) project, according to Malaysia’s Economic Affairs Minister Mohamed Azmin Ali.

Azmin will be leading a delegation to Singapore for the discussion with Transport Minister Khaw Boon Wan and to safeguard the diplomatic relationship between both countries by the end of the month.

“We are looking at all the available options. The bilateral agreement on the HSR provides for either party to cancel the project. This however, is subjected to the terms and conditions of the agreement,” says Azmin.

He also stressed that any agreements signed must be fair and just to both parties.

Read Najib’s very valid comments on the costings. Minister’s reply shows that M’saian govt talking cock.

Meanwhile, Malaysia’s former prime minister Najib Razak asked in Parliament, “The international open tender only ends on Dec 28, 2018 and both governments would decide on the bids. The total cost of the project is not yet known, but it would competitive. Some countries would give loans at 0% or 0.1%.”

“So how can the government say it would cost RM110 billion, when the tender is not closed?” Najib asked.

Azmin replied saying that these calculations are “just costing” at the meantime and were made by the Finance Ministry, who also found that there were hidden costs in the project, which were not revealed earlier.

Nonetheless, the minister also said that Malaysia has not excluded the possibility of the project continuing, but will not make any suggestions unless there is a consensus from both countries.

Malaysia had previously announced that they intend to cancel the project, but has since brought it back up for review, if the cost is reduced by half.

Is PAP in “decline and disintegration”?

In Economy, Malaysia, Political governance, Public Administration on 09/07/2018 at 2:08 pm

Seems that Abdullah Badawi had told an adviser after the premier was compelled to step down following the 2008 general election in which the UMNO-led BN’s margins of victory were badly dented:

In the nature of evolution, the former prime minister said, there were four phases in the rise and fall of states and entities: kesedaran (awareness), kebangkitan (emergence), kegemilangan (greatness) and kehancuran (decline and disintegration). When asked what phase he saw UMNO to be in then, Abdullah told the adviser: the last one  ̶  of decline and disintegration. It would take another decade, or two more general elections coinciding with the premiership of his successor, Najib Razak, before this prognosis proved to be an indisputable fact.

http://www.rsis.edu.sg/wp-content/uploads/2018/07/CO18112.pdf?utm_source=getresponse&utm_medium=email&utm_campaign=rsis_publications&utm_content=RSIS+Commentary+112%2F2018+UMNO+Post-Power%3A+What+Now+in+a+Changing+Landscape%3F+by+Yang+Razali+Kassim+

I’m sure the anti-PAP cybernuts will say that the PAP is in the “decline and disintegration” phase, but they have been saying this since cyberspace became polluted by their presence in the mid noughties. And they were saying it post 1959 when they lived in the gutters, drains and toilets of brothels.

Me? I think that Badawi is wrong about four phases: There’s a “stagnation” phase between “greatness” and “decline and disintegration”.

Harry was pretty shrewd to pass the baton to his son and GCT in 1990. By then, the PAP had entered the “stagnation” phase what with Harry getting progressively getting rid of his Old Guard in the name of leadership renewal.

Think of the flawed policies of the teams led by GCT and Harry’s son, and then Harry’s son alone: “asset enhancement”, “FTs by the cattle truck load”, the failures in the public transport system and the many restructuring plans (Economic restructuring: This time, it’s really different). I mean why the need for so many since the 1980s? LHL must have drawn up a really bad plan in the 1980s for there to be a need of so many followup plans?

And he’s now PM, what? Meritocracy? What Meritocracy?

Meritocracy? What meritocracy?

Why PAP doesn’t do accountability, meritocracy

We are still in that phase. As for M’sia, it entered that phase with the arrest of Anwar and continued until the day after the 2008 general election. But of course, Badawi wouldn’t admit that he presided over the stagnation that would lead to decline.

The PAP will enter the “decline and disintegration” phase when like the BN it cocks up so badly that it loses its two-thirds parly majority (BN lost this in 2008). Until then dream on cybernuts. Or should it be wank on, what?

After all, in the coming GE. WP is expected to lose Aljunied GRC: How to ensure no GST rise. It’ll then only have fortress Hougang. As for the SDP, so long as S’poreans don’t want to get rabies, it’ll be unelectable. The later Mad Dog Chee realises this, the happier the PAP will be.

Why Anwar is right to rebuke Lim on exaggerating M’sia’s debt problem

In Malaysia on 09/07/2018 at 6:32 am

And why Tun should sit down and shut up on M’sia’s debt problems.

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Related articles

Poor Najib, not believed when telling the truth

Mahathirnomics/ Luck of the devil

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Look at the charts and u can see why investors can easily be spooked especially given the run from emerging mkts due to tightening of US monetary policy, US$ strength and fear of trade wars.

(Declaration of interest: I’m a friend of someone who was one of his advisers when he was finance minister.)

 

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Cybernut on “Why Singapore really need[s] the HSR?”

In Infrastructure, Malaysia on 01/07/2018 at 9:59 am

Below is what a cybernut wrote in TRE on why “Why Singapore really need[s] the HSR?”. I can’t stop laughing because the cybernut forgets (or doesn’t know or doesn’t want to tell?) that it was M’sia that first proposed the HSR, almost as soon Najib became PM, wanting to build it ASAP (to be operational in 2016), and that S’pore was the one dragging its feet.

The two PMs agreed to go ahead with the project after a meeting on 19 February 2013. A committee was set up to look into ‘the details and modalities’ of the project. Then it was announced that the high-speed rail proposal will be finalised by end of 2014 with a targeted completion date of 2020.

S’pore and M’sia only signed a Memorandum of Understanding on 19 July 2016.

And here’s interesting facts that even I had forgotten. KL had earlier unilateraly started work

In 2006 YTL Corporation, operator of the Express Rail Link in Kuala Lumpur, revived the proposal, with a projected speed of 250 km/h (155 mph). This was expected to trim travel time between the two cities to 99 minutes, compared with 4–5 hours by road, 7 hours by conventional rail services,[5] or 3 hours by air (including travel to and from the airports, check-in, boarding and other airport procedures). In 2008 the Malaysian government halted the project citing high-costs of over RM8 billion.[6]

https://en.wikipedia.org/wiki/Kuala_Lumpur%E2%80%93Singapore_high-speed_rail

The thinking was that if S’pore said “No” when formally asked, the terminus would be in JB.

Whatever why didn’t Tun M speak out earlier against the HSR?

Why Singapore really need the HSR?

They created the problems, at end of the day, it is we are paying the  price. When the PAP saw the property slumps, they kicked in by having  the two casinos, property prices shoot up. It is well known fact,  black money goes hand in hand with casinos, it is the best way to  launder money. Suddenly we saw 70% of the private properties owned by  foreigners. How many of them are black money?

Jurong areas saw buildings after buildings, vacant spaces all around .  Recently came out an article on depress markets around Jurong.  Something must be done if not it create a cycle of busts, a collapse  of property market. PAP knew about it, something must be done. Wallah  an ingenious came out, mega project, the high speed railway to  resurrect the Jurong properties market. And who have to foot the bills  to bail out the rich property developers?, it is we. Gst, cpf,  utilities, transportation went up.

Mahathir is shrewd, he knew, it benefits Singapore not Malaysia. PAP had made mistakes, in billions and we always have to foot the bills,  it is high time we be like our brave brothers and sisters of Malaysia,  say no to PAP.

Aziz Kassim

Relax S’poreans, Tun is not in control in M’sia

In Malaysia on 29/06/2018 at 11:25 am

Tun is as harmless as Harry was in 2013 and 2014.

Remember the photos of Harry at a PAP do before his death? He had to be propped up: like a dummy I tot. Google the images up as I’m don’t intend to show our Harry as a toothless, mangy ex-lord of the jungle where once even a quiet chuckle from him got people worried. So sad.

Well as the PAP govt and fellow S’poreans, and anti-PAP types* get their knickers in a twist over Tun unfriendly remarks, I tot I’d remind them of  how harmless was our Harry was in 2013 and 2014 because Tun is just as toothless, mangy ex-lord of the jungle ass Harry was even if he is M’sian PM.

He may be PM and has all the powers that Najib used to have in ensuring that 1MDB was not investigated by the M’sian authorities.

But he can be easily removed as PM if Anwar, his gang, the DAP (Like Tun , Anwar needs the kilang and cina coolies to clean up the manure created by Tun, himself and Najib.) and the moderate Islamic party want to. They only have to hold their noses and sign up the Sarawak parties that left BN. These parties have 19 seats, a few more than Tun and M gang.

Look at the differences between DAP ministers and Tun on HSR and the repeal of various laws**, and how long it took to decide the remaining cabinet posts, and you will see how powerless he is.

So no need to be concerned about his unfriendly comments.

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*They are now keeping real quiet and hoping that real S’poreans will forget that they only a few weeks ago were telling us that the sun shone from Tun’s ass. Example: Chua Seng Chwee has gone back to talking on FB about good food. A few weeks ago he was cheering on Tun whenever Tun attacked S’pore telling us that Tun is a really smart guy. (Related post: Anti-PAP S’poreans sucking up to Tun)

But Terry’s Online Channel is doubling down on its support for Tun. It tells readers that Tun’s unfriendly comments are all about the PAP govt being unfair to M’sia and comparing that unfairness to what TOC and the anti-PAP cybernuts say is the PAP’s unfairness to S’poreans. All TOC will achieve is ensuring that soft PAP voters will think TOC and its base are anti-S’porean fifth columnists. Sad.

**Btw, I had predicted that like the Anti-Fake News Act, the Printing Presses and Publications Act, and Sedition Act will only be tweaked, not repealed: Waz this call for a leader like Tun M here?

Tun M’s crony, the Home Minister, said the Printing Presses and Publications Act, and Sedition Act will be reviewed.

The DAP wants all these laws repealed as per the Coalition of Hope’s manifesto.

Anwar and gang, the rest of the coalition, and the neutrals from Sabah and Sarawak are eating popcorn, watching and laughing. UMNO and the rest of BN are hoping they can help stir the pot. Sad for M’sia.

 

M’sia: Time to buy?

In China, Emerging markets, India, Indonesia, Malaysia on 21/06/2018 at 4:28 am

M’sian mkt being ignored. One of least crowded emerging markets. Thailand and China look vulnerable because everyone’s there. Indonesia, Pinoy Land, Taiwan, Korea and India are in between. 

Bit rich of Tun to say this about Trump

In Malaysia on 20/06/2018 at 4:17 am

.“I have no plans to go and see him,” Dr Mahathir said of Mr Trump, whom he called volatile. “I don’t know how I can deal with a person who is so much like a chameleon.”

NYT

Remember this

“The belief that I dismissed him because I was afraid he would oust me is without basis. I dismissed him for two reasons only: he was unsuitable to continue serving in the Government and he was unsuitable to succeed me as Prime Minister.” — Mahathir’s 2011 book “A Doctor in the House,” on his sacking of Anwar as his deputy during the Asian financial crisis. “I may have made many mistakes, but removing Anwar was not one of them.”

https://www.bloomberg.com/news/articles/2018-05-10/mahathir-in-his-own-words-on-markets-islam-and-anwar-ibrahim

Then he said before the election he said he would make way (after serving two yrs as PM) for jailed opposition politician Anwar Ibrahim to be PM after Anwar is pardoned by the King.  Now he’s hinting he’ll stay on on PM.

And like Trump he’s taking a long time to announce his full cabinet.

Oh and remember this? HSR: I was right wasn’t I?

Sounds like Tun is Asean’s Trump. All he needs to complete the comparison is a couple of buildings named Tun. Akan datang.

HSR: I was right wasn’t I?

In Infrastructure, Malaysia on 18/06/2018 at 11:04 am

Trumpets pls.

HSR “delayed” not “cancelled” according to Tun. (Btw, someone pls tell TKL this. He thinks still cancelled according to his TOC article.)

In Will we ever get letter cancelling HSR?

I wrote

The two DAP** ministers want to send a letter saying M’sia wants to have talks on a review of the project with a view to revising the costs and timetable. They hope that lower costs means S’pore will be amendable to a delay in the start date, and not ask for compensation.

**Remember that Lim Guan Eng and his pa came to brief our Harry when the DAP won Penang in 2008. More like “kowtow” said my UMNO inner circle connection when I told him what the present finance minister told an ISEAS seminar in 2008.

Now Tun (and his anti-PAP fans here) has had to swallow sperm what with

The proposed high-speed rail (HSR) project connecting Malaysia’s capital city to Singapore has not been cancelled but merely postponed, Malaysian Prime Minister Tun Dr Mahathir Mohamad said, softening his earlier intention to scrap the deal entirely.

In an interview with Japanese media published in the Asian Nikkei Review on Monday night (June 11), Dr Mahathir explained that the project was put on the backburner because of its exorbitant cost of RM110 billion (S$37 billion).

https://www.todayonline.com/world/kl-singapore-hsr-project-postponed-not-scrapped-says-dr-mahathir

And

Mr Khaw’s Malaysian counterpart Anthony Loke said on Tuesday a negotiating party consisting of the Finance, Economics Affairs, and Transport ministers will make a trip across the Causeway to iron out a deal concerning the HSR.

“As it was announced last week, we will still negotiate with Singapore. We, the Finance, Economic, and Transport ministers will go to Singapore and negotiate this deal,” Mr Loke said.

As it is alleged by UMNO (Or so I’m told) that DAP leaders have to burn incense before this graven image daily, our ministers sure have to pang chance.

 

Must be cheap skate cybernuts visting Johor

In Indonesia, Malaysia, Tourism, Vietnam on 18/06/2018 at 4:14 am

Diagram shows that M’sia is even worse than Vietnam in not fleecing tourists: must all those freeloading TRE, TOC readers and other cheap skates taking adv of weak ringgit. Tun will not be happy. 

M’sian economy: a safe haven in emerging mkts storm

In Currencies, Emerging markets, Indonesia, Malaysia on 11/06/2018 at 5:40 am

Tun should chill out on his fears for the M’sian economy. His fiance minister and Najib  are right about how gd the economy is: Either Tun or his Cina finance minister is wrong: OK, OK vis-a-vis other emerging mkts.

Remember the Taper Tantrum of 2013? Back then, the talk was of the Fragile Five (sometimes known as the BIITS): Brazil, India, Indonesia, Turkey and South Africa:  these large emerging markets had large current account deficits.

Well the tantrum is back with India, Indonesia, Turkey, Pakistan and the Philippines recently raising their official interest rates but despite Tun’s KPKBing M’sia is in great shape. True getting rid of GST is not a great idea but with oil in the US$70s , there’s room for compacency: Mahathirnomics/ Luck of the devil.

Juz tell that to the foreigners selling M’sian equities.

Anwar off to make a fortune

In Malaysia on 08/06/2018 at 5:28 am

Anwar has said he’ll spend the next two yrs going round the world, giving lectures on freedom and reform. What he hasn’t added, is that he’ll make a fortune doing so, especially if as expected he gets the Washington Speakers Bureau to represent him.

No this is not part of the CIA, but a business, based in Washington DC, that arranges for ex-politicans etc to get paid for public performances lectures.

The FT reported in Nov 2016 that the George Osborne, the UK chancellor fired less than 6 months earlier had earned £320,000 from lecturing in the US.  He earned more than £140,000 for two speeches at JPMorgan. The Washington Speakers Bureau was his agent. The Clintons too are clients, I think. She too earned big bucks talking to banks’ staff and clients.

Seriously do find the time to read this:http://www.scmp.com/week-asia/politics/article/2148930/anwar-ibrahim-qa-malaysian-democracy-icon-prison-dissent-and

Ex-ST journalists interviewed him.

Will we ever get letter cancelling HSR?

In Malaysia on 06/06/2018 at 11:10 am

Not if the DAP ministers get their way.

Secret Squirrel and Morocco Mole (my ISD contacts) tell me that that their pal Sang Kancil in the M;sian Special Branch tells them, there’s an unreported cabinet row in KL.

Tun it seems wants the Transport Minister to send a letter saying. “HSR is hereby cancelled. Sue M’sia, punk and make Tun Mahathir’s day. He’ll lease the Middle Rocks to China for free on condition they expand and militarise* it.”

Seriously, the DAP’s finance minister and transport ministers want to send a nuanced letter than Tun’s cancellation is “final” letter. After all, Malaysia’s new Transport Minister Anthony Loke had told Channel Newsasia that the project is “subject to review” if the country is in a better fiscal position later on: Still waiting for letter cancelling HSR.

The two DAP** ministers want to send a letter saying M’sia wants to have talks on a review of the project with a view to revising the costs and timetable. They hope that lower costs means S’pore will be amendable to a delay in the start date, and not ask for compensation. After all, M’sia was the one pushing for quick completion. Najib wanted it build by 2016, when he first suggested it in 2010, I think. S’pore took it’s time deciding and cybernuts in TOC, TRE, The Idiots etc were KPKBing that we should take up the offer: anything the PAP govt opposes, they support.

The other cabinet ministers and Anwar are sitting back, eating peanuts and enjoying the row.

Well if we don’t get a letter soon, the 60- 70%  who vote PAP will think Tun is as big a talk cock, sing song artiste as Lim Tean  (Where’s yr defamation video and jobs rally Lim Tean?) and Goh Meng Seng (Meng Seng doesn’t know his Chinese history), even though Tun was the straw that tilted the election result to the Hope League, and he has just stared down the king over the cabinet choice of a snake an Indian Christian as AG.


*Tun following Xi?

**Remember that Lim Guan Eng and his pa came to brief our Harry when the DAP won Penang in 2008. More like “kowtow” said my UMNO inner circle connection when I told him what the present finance minister told an ISEAS seminar in 2008.

 

 

 

 

Today

A gd word for Duterte

In Uncategorized on 06/06/2018 at 4:12 am

The many controversies of Rodrigo Duterte’s presidency have overshadowed his considerable achievement in reducing smoking rates. No he didn’t it by shooting smokers aka like drug users and dealers. He strengthened an existing law. In May 2017, he passed an executive order banning smoking in public, imposing a maximum penalty of a four-month jail term and a 5,000-peso ($95) fine: the S’pore way sort off.

Taxes on tobacco are also shooting thru the roof.

Mahathirnomics/ Luck of the devil

In Malaysia on 01/06/2018 at 11:18 am

Investors are concerned that Dr Mahathir’s government will struggle to curb debts while implementing populist campaign pledges to drop highway tolls, increase fuel subsidies and abolish the goods and services tax*, which was set to generate US$12 billion (S$16 billion) or a fifth of state revenues this year.

FT

Or as averageguysg posted on this blog

I find it interesting to see what Tun M does. Let’s look at the situation Msia is in now:

1) Supposedly 1 trillion of debt. Can’t raid the reserves.

2) At the same time, they need to raise wages, improve healthcare and poverty.

3) While mega projects can create jobs and investment, they got no money to do it.

4) Also don’t want to open legs to China, so that kind of “investment” will not be pursued.

5) Can recover a few hundred million from 1MDB, but still only tip of the iceberg.

6) Plenty of pro-BN civil servants still need jobs even if you sack them.

7) Can cut defense projects, but also this is small money and may piss China off.

8) Want to improve education system, abolish vernacular schools etc, all this takes money and the tangible benefit will only come much later.

So how**?

Tun wants to spend money on the people (Nor make them Pay And Pay) while cutting taxes, and reducing debts and deficits: sounds like Reagan’s “Vodoo economics***”

Well if oil goes to US$100 a barallel, he’ll manage this feat.

If it falls to US$30, M’sia will be really bankrupt.


Budget assumpions on oil

In the country’s 2018 Budget, the oil price was projected to be around US$52 instead of the above US$70 per barrel now. So now government would record an additional RM5.4bn revenue from higher oil prices, Cina minister said.

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If it trades within the zone of US$50- US$60, “In the hands of Allah” and Anwar might think twice about becoming PM and inheriting a poisoned chalice: Tun will have done a “Hail Mary” pass to Anwar, while smirking.

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Petrol subsidy

The prices of RON95 petrol and diesel will be maintained at the current levels of RM2.20 and RM2.18 per litre respectively, although after June 7, the price of RON97 petrol will be floated according to market prices.

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Whatever don’t underestimate Tun’s intuition (or luck?). Someone in his inner most circle who recommeded in 1998 that M’sia get an IMF loan (and who thrown out of that magic circle for that advice and other “crimes”, but now back in the circle circa 2010) told me in the noughties that Tun M got it right and people like him and other economic literate advisers got it wrong. He added that even the IMF had changed its mind on the use of capital controls: something that was haram to the IMF when Tun introduced them to M’sia.

Btw, Read this about how analysts who supported the need for GST in KL, now downplaying its importance: https://www.todayonline.com/world/economists-play-down-concerns-over-malaysias-fiscal-health-despite-governments-populist. Some things never change: the sucking up to power.

Related post: Either Tun or his Cina finance minister is wrong

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*”The scrapping of a Goods and Services Tax will blow a RM$21 billion (S$7.1 billion) hole in the Malaysian government’s wallet, but the country will still be able to meet its budget deficit target for 2018, said Finance Minister Lim Guan Eng on Thursday (May 31).

The lost revenue from the tax due to be axed on Friday would be offset by rising oil-related revenues, spending cuts on non-essential projects, increased dividends from govt-linked firms and a new sales tax expected to be introduced in September, he added.”

Agencies

**Easy leh. Shake down S’pore for money. We got the cybernuts ready and willing to help Tun subvert S’pore: Anti-PAP S’poreans sucking up to Tun. With S’poreans like these nuts, we need the PAP. If Tun M is still PM when the next GE is held: “Vote PAP to protect our right to Pay And Pay”.

Fortress Middle Islands could be such a shakedown ploy: Tun following Xi?

***Vodoo economics Also called “Reaganomics,” voodoo economics is the nickname for the hallmark economic policy of Ronald Reagan, the 40th President of the United States (1981-1989), who was trying to stimulate an economy that lay stagnant after the Jimmy Carter years.

http://www.investinganswers.com/financial-dictionary/economics/voodoo-economics-5170

 

Tun following Xi?

In Malaysia on 01/06/2018 at 4:24 am

In place of the crooked bridge to upset patriotic S’poreans and please the anti-PAP fifth column*

Dr Mahathir added that his government is thinking of expanding Middle Rocks, which was awarded to Malaysia in the 2008 ICJ decision.

“On Middle Rocks we have already built structures,” he said. “It is our intention to enlarge middle rocks so that we can form a small island for us.”

Read more at https://www.channelnewsasia.com/news/singapore/pedra-branca-icj-malaysia-discontinued-challenges-10288912

Next build an airstrip and aircraft hangers? Then install surface to air and surface to surface missiles and anti-aircraft guns?

And to compensate the Chinese for contracts, he wants cancelled, he could award the Chinese the contract to build and fortify the place. The Chinese have the experience, reference what they are doing in the South China Sea. Goh Meng Seng for one will kiss his ass because he is imitating Meng Seng’s hero Grandpa Xi.

Alternatively, Tun can use Middle Rocks to build a new Forest City.


*”A fifth column is any group of people who undermine a larger group from within, usually in favour of an enemy group or nation. The activities of a fifth column can be overt or clandestine.” Wikipedia

Think Goh Meng Seng and his pro Chinese comments.

Either Tun or his Cina finance minister is wrong

In Malaysia on 31/05/2018 at 10:47 am

Both can’t be right about how good (“Malaysia’s economic fundamentals were still intact”) or how bad (“[need to] avoid being declared bankrupt”) a shape is the M’sian economy in.

But first

I am surprised at how fast the country’s economy changed from a supposed crisis and failure before GE14 to a stable and strong economy.

All in just over two weeks?

Ah Jib Gor over the weekend

He was responding to

Finance Minister Lim had said yesterday that Malaysia’s economic fundamentals were still intact, and that the new government would strive to make the country’s fiscal position more sustainable.

https://www.malaymail.com/s/1635311/najib-says-surprised-how-pakatan-restored-economy-in-just-over-two-weeks

Well his Malay boss (after reading Ah Jib Gor’s jibe?) said on Monday

Malaysia is scrapping the multi-billion-dollar Kuala Lumpur-Singapore High-Speed Rail project as part of drastic cuts to government spending and investment that are required for the country to “avoid being declared bankrupt”, Prime Minister Mahathir Mohamad said on Monday (May 28).

“One of the most important priorities of course is the financial situation of the country,” he told the Financial Times.

What do u think? Is Tun or Lim right? Or neither and that the truth is somewhere in between.

As it is, another DAP Cina minister sided with Tun:

Why we cancelled the [HSR] project is because of affordability,” he added. “The priority of the government is to pay our debts and the ability to repay our debts, that is our main priority, that’s why some of these projects must be shelved.

Meanwhile as foreign investors continue selling M’sian shares, M’sia Inc entities like the EPF and Tabung Haji are buying.

Related post: Poor Najib, not believed when telling the truth

 

 

 

 

Anti-PAP S’poreans sucking up to Tun

In Infrastructure, Malaysia on 30/05/2018 at 11:04 am

From my coffee shop chat group: I feel the silence on d part of our govt on d cancellation HSR proj is shocking in diplomatic terms. We shld imm announce that we will forgive d penalty other than for what we had spent.!!! LHL fave strategy is always to keep quiet on any crisis. This is leadership.

FB post by anti-PAP FB warrior yesterday

I’m sure if Dr M asked this group to suck his XXXX, this bunch of anti-PAP Facebook warriors would happily do so. They’d even offer their asses to Anwar while pleasuring Tun with their mouths,if Anwar asked.

Think I’m being too harsh?

The above was posted on Vesak Day (public hoiday in both countries) and came after media reports overnight that

— Tun said that he had cancelled the agreement on Monday,

— and S’pore said that it had not received official confirmation of the cancellation.

Had the letter the agreement cancelling even been sent, let alone drafted? Why must do everything to saka Tun? Thinking about it, since Tun has said that S’pore has yet to be told, looks like these guys will suck Tun’s XXXX while allowing anwar to bugger them even before they ask him for these actions.

Is there really na vneed to saka him? We survived his last premiership (22 years) in pretty good shape, while he now admits M’sia is now in a mess because of the actions of his handpicled successor.

As I said before I know very well the KL that Tun and Anwar were in charge of: I thrived in that environment. Their actions and inactions came to roost and haunt them personally and other M’sians after Najib became PM.Yet our anti-PAP types praise them as antidotes to the PAP.

By all remains praise the DAP* and the moderate Muslims that left PAS to form the National Trust Party (Amanah;Malay: Parti Amanah Negara), but be real about Tun and Anwar. They won a famous victory but it was a victory that owed a lot to the DAP and Amanah.

===============

*Though anti-PAP types won’t because Lim Guan Eng and his pa came to S’pore to “brief” our Harry when the DAP won Penang. More like “kowtow” joked an UMNO insider when I told him what Lim Jnr told a seminar at ISEAS in 2008 after meeting Harry.

 

What TOC didn’t tell us why Harry met Najib’s wife

In Malaysia on 27/05/2018 at 11:11 am

 

https://www.theonlinecitizen.com/2018/05/24/lee-kuan-yew-specifically-asked-to-meet-rosmah-after-najib-became-pm/

What TOC left out that FLOM (as she was nick-named by M’sians: It stood for First Lady of M’sia, her adopted “title” after she met Mrs Obama when Obama was president. (Explanation:The US secret service code name for any US first lady is “FLOTUS”  ) was well-known* for wearing the pants in her marriage to Najib: he did what she asked him to do.

There were stories* that Dr M would jokingly ask him in cabinet meetings who his wife wanted defence contracts to be awarded to. It was well-known that she lobbied for certain arms manufacturers and that she would call defence officials to ask “Why taking so long?”

So our Harry was smart enough to know that she was the person to talk to make sure that relations improved post Dr M’s reign. Three cheers for our Harry.

————————–

*From the mid eighties until late 90s, I was what today would be called a M’sian equities specialist: I flogged, arbitraded M’sian shares for a living.

 

Poor Najib, not believed when telling the truth

In Malaysia on 27/05/2018 at 5:22 am

But first Great comedy rootine, (even better than M’sia: Two doctors’ routine) featuring Tun M and Najib.

Ah Jib Gor said the victorious Alliance of Hope had falsely promised voters “the moon and the stars”.

“It’s like playing football. We played clean; the others fouled. And they won,” he said.

He was countering Tun M’s

Malaysia’s debt has reached an alarming RM1 trillion (S$337 billion), said Malaysian Prime Minister Tun Dr Mahathir Mohamad on Monday (May 21), as he pledged to restore the nation to its former glory.

Blaming the previous government led by former protégé Datuk Seri Najib Razak who now faces domestic graft investigations, Dr Mahathir said important measures must be taken for the South-east Asian country to quickly recover from the situation, pointing out Malaysia had debts of about RM300 billion only when he was previously prime minister for 22 years.

“We find that the country’s finances for example, was abused in a way that now we are facing trouble settling debts that have risen to a trillion ringgit. We have never had to deal with this before. Before we never faced debts higher than RM300 billion, but now it has climbed to RM1 trillion” he said in his maiden address to civil servants of the Prime Minister’s Department.

Dr Mahathir, 92, was Malaysia’s prime minister from 1981 and 2003.

https://www.todayonline.com/world/malaysias-debt-alarming-level-1-trillion-ringgit-says-mahathir

Can’t stop laughing at Tun M implication that he was so prudent. Badawi, Tun M’s chosen successor, came out to say after Tun M, replaced him with Najib, that when he (Badawi) became PM, there was no money to spend on Tun M’s plans. And that Tun turned against him because he couldn’t and wouldn’t fund Tun’s projects.

Anyway Najib’s FB’s more detailed response is juz as brazen and funny (but truthful in parts).

Political narrative or facts?

1. Words said and allegations made while in the opposition carries a very different weight now that you are in power and holding the positions of the Finance Minister or the Prime Minister.

2. Coming out to say that our country’s government debt to GDP is now 65%, which is a big jump from the official 50.9% figure and saying that our debt is now RM1 trillion without giving any details of what you mean will just unsettle the financial markets, alarm the credit rating agencies and investors confidence in our institutions such as our Bank Negara Malaysia.

3. There must be a clear distinction between political narrative and facts. Mixing them will create doubts on the credibility of our numbers and the professionalism of the institutions that were involved in preparing them, governed by Malaysians laws and international standards.

4. As a result of these alarming and confusing statements, our Bursa Malaysia index fell the most among all worldwide stock markets resulting in tens of billions of ringgit in market value wiped out in one day. Our Bursa index fell 40.78 points today or 2.21% while the Indonesian stock index added 0.71%.

5. The business news-portal The EdgeMarkets said this sharp fall in our share market was contributed by concern on our public debt.

Surely this fall would affect our funds such as EPF and PNB and could lower the dividend rates for its members for the year.

6. Similarly, issuing statements that we should not worry about our country’s sovereign credit ratings being downgraded will result in further rocking the confidence in our institutions.

7. A downgrade will result in higher debt financing costs of RM10 billion per year to our country and may result in our banks who had borrowed from the international markets to sustain losses. It may also result in large capital outflows from foreign investors and cause our Ringgit to weaken.

8. While you may want to slander and put all the blame on me to give a perception of a dire financial position to justify why you cannot deliver on your manifesto promises and to massively cut the civil service, you must remember that the country and our people comes first.

9. You can also issue misleading statements on 1MDB or tell half the story about it to blame me but the time to play politics is over.

10. Words spoken while in such positions of power result in actual losses to the country and the people, as was proven today in the stock market. It is no longer just about votes anymore.

I won’t go into the technical details of why Najib is right to KPKB that the new debt level of M$1 trillion isa “fake”: it’s bad accounting, not in line with IMF guidelines (But then we too don’t follow IMF guidelines.)

And it’s a fact that that foreigners have been spooked. They’ve been net sellers of M’sian equities since the election.

But then was Pinocchio believed when he finally told the truth?

 

 

M’sia: See who is now KPKBing

In Malaysia on 26/05/2018 at 1:44 pm

Before the General election, Election reform group Bersih 2.0 (M’sian activists opposed to BN) accused the Election Commission of electoral fraud citing

10 “serious crimes”, including alleged failure to remove dead people from the electoral roll, irregularities in postal voting, a failure to take action against corruption allegations and allowing the bare minimum time between parliament being dissolved and voting taking place.

But when their side won, there was silence.

But Najib said over the last weekend,

It’s like playing football. We played clean; the others fouled. And they won.

And that the victorious Alliance of Hope had falsely promised voters “the moon and the stars”.

 

 

M’sia: Must be kilang

In Malaysia on 25/05/2018 at 6:31 am

M’sia’s Chinese finance minister* on 1MDB’s CEO

It is completely unbelievable that a highly paid and ‘experienced’ investment banker can be so irresponsibly clueless as to not know whether 9.8 billion ringgit worth of investments are even real.

I have found Arul Kanda to be utterly dishonest and untrustworthy.

Can’t blame for being so derogatory because Kanda had said everything was now OK at 1MDB during the election campaign. Turns out that that even the board of directors thought 1MDB was effectively insolvent, and it was unable to service its billions of debt and interest payments on its own. Even Arul says that that is true. So he implies that he was lying that all was well.

But he still is thinking of suing for defamation. Lim says: “Make my day, punk”.

But not all Indians like that. We got world class Tamils. Post coming up.


He and his pa so respect our Harry that when he came became Penang’s chief minister, they came down to “brief” him. When I told an UMNO insider he said “He means kow tow” with a laugh.

The real reason why Reformasi won’t happen here

In Malaysia, Political governance on 24/05/2018 at 11:04 am

In Why Reformasi won’t happen here, I had a dig at the cheapskates who wanted Reformasi on the cheap.

Here’s the real reason (articulated by a member of a FB group I belong to): S’poreans have not suffered enough (Something Chris K has said on FB) because things ain’t that bad her (Chris never pointed this out, but then he’s likely to go the way of other PAP critics, unless they are as cynical as me or “abc”. PAP critics usually end up as anti-PAP: Terry once told me . But don’t blame them because this is fault of PAP: Either you are with us or against us because what is good for the PAP is good for S’pore.)

Sorry back to the posts by a fellow member of a FB group.

If the ministers go in the way of Malaysia or Cambodia, let it happen naturally. If anyone is actually hoping for that to happen just so that they can see something happen, be careful what you wish for. Citizens of these countries are not having it easy, you know.

He then later went on

Having dialogued with DAP politicians over several years, I feel they looked at their political situation with grief, despondence, and exasperation. That was why my friend Liew Chin Tong went for the tough one at Ayer Hitam, because he didn’t want to be around to see what happens if BN wins another term. He’s tired. Now that they are part of the powers that be, it feels surreal and a relief. (For Liew, he’s re-energized though he was one of the only 2 DAP candidates who lost.)

I believe with the many people who are against PAP and/or support the opposition have anger and upsetness against the PAPG. When the PAP lost Aljunied, what they felt was jubilation.

So the 2 sets of emotions are different. The former are felt by citizens in a more desperate situation, waking up everyday to another new day of worry. Do we feel that here in Singapore?

I’d add that things are so good here that in last GE, 70% of the voters voted for PAP and continued to give two-thirds of parly seats. PAP nearly won  a GLC that would have reduced oppo elected MP to one. Fortunately the Wankers’ Party retained Aljunied, barely.

The BN lost its two-thirds majority in parly in 2008 and had less than 50% of the votes in the GE 2013.

(Updated at 11.35am: The last two paras were carelessly left out in initially published piece. Sorry.)

 

 

 

 

 

 

 

With enemy like this, UMNO will soon be back in power

In Malaysia on 24/05/2018 at 6:44 am

Lim Guan Eng must be cleared of any corruption charges before becoming the Finance Minister, said the Centre to Combat Corruption and Cronyism (C4).

“The C4 Centre is troubled that Lim has been appointed as Finance Minister despite earlier statements by Prime Minister Tun Dr Mahathir Mohamad that he can only be appointed if he has been cleared of his corruption charge,” its executive director Cynthia Gabriel said in a statement on Tuesday (May 22).
Read more at https://www.thestar.com.my/news/nation/2018/05/22/guan-eng-must-be-cleared-of-corruption-charges-before-becoming-finance-minister-says-c4/#lU5s2e4jcAiEGT5g.99

WTF.

When UMNO was in power, this NGO like many other NGOs were KPKBing that the charges against him were “fake” and “political”. So the least it could do now is to sit down and shut up until the court makes a decision (expected in late June I think).

I think this NGO (and a lot more) must prioritise what it wants. The new govt has prioritised growing and reforming the economy (Oil at US$80 is very helpful though abolishing GST is not), helping for the poor (abolishing GST has the poor cheering) and exposing the truth about 1MDB. Sounds about right.

Other things can wait, and rightly so. This what Maria Chin Abdullah a warrior who has been arrested, put in solitary confinement etc says

For 61 years, it was only criticism but now we have to implement what we say. It’s a tall order as the new coalition is not all homogeneous. Ironing out our differences and the principles of our new democracy will take some years.

It’s going to be hard work, and NGOs and others must focus on the big picture, not the details, especially irrelevant wants.

My beef against Terry’s OnLine Channel

In Malaysia on 23/05/2018 at 10:46 am

Sadly I have to agree with u/m FB PAP IB rant that

— TOC is failing to “to separate Singapore’s national interests and standing from their usual Prime Minister-bashing rhetoric.”; and 

— “The shallowness of some of TOC’s arguments on how bad the PAP and their blatant disregard to facts or context is worrisome*.”

Sad.

To be fair to Terry, the failure to differentiate between national interests and whacking the PAP is a trait that most critics of the PAP fall into into the long run (Yes I’m thinking about the danger of Chris K becoming one of these “PAP is always wrong” sheep.). But they can’t be blamed for this because the PAP and the constructive, nation-building media are always saying or implying “What is good for the PAP is good for S’pore”. 

back to the IBer

Mun Loon

TOC has lost the plot. It’s role, as it seemingly wants recognition for, is for the interest of Singaporeans, to hold the government in its checks and balances.

however, in more recent days, TOC has appeared more delusional.

It had always maintained that Singapore was bigger than the ruling party, but (TOC) is unable to separate Singapore’s national interests and standing from their usual Prime Minister-bashing rhetoric.

The shallowness of some of TOC’s arguments on how bad the PAP and their blatant disregard to facts or context is worrisome.

There is a role for media outlets online like Malaysiakini; and to equate TOC with Malaysiakini is an undeserved compliment to the prior or an insult to latter.

Your rhetoric is getting tiresome.


*TOC’s coverage on regime change in KL and its implications for S’pore is particularly bad. For starters, there’s the glossing over of Tun’s and Anwar’s roles in bringing M’sia to where it was before regime change. They messed up:

— M’sia: Don’t anyhow blame Najib

— M’sia: Two doctors’ routine

Then, does TOC really want people like these two running S’pore?

— Breaking election promises or trying to: Waz this call for a leader like Tun M here?

—  Read carefully what he says beyond the soundbite: Anwar: Beyond the sound bite of “Malaysia to scrap race policies”

Finally internal rowing is happening already:

— Bayee minister gives Tun M the finger

(More on another row soon)

 

Bayee minister gives Tun M the finger

In Malaysia on 23/05/2018 at 4:44 am

Malaysia’s controversial Anti-Fake News Act will be repealed, the country’s new Communications and Multimedia Minister Gobind Singh Deo* said on Monday (May 21).
Read more athttps://www.channelnewsasia.com/news/asia/malaysia-anti-fake-news-act-will-be-repealed-gobind-singh-10255272

But earlier Tun M had said the law would be reviewed and tweaked not repealed, breaking an election pledge: Waz this call for a leader like Tun M here?

Off with his turban.

Or is M’sian cabinet as dysfunctional as Trump’s? LOL


*First ever Sikh minister in M’sia’s history. He’s a son of Karpal Singh (deceased), the famous DAP politician. Like pa was, he’s a DAP tua kee. Had to be leader from DAP to give Tun M the finger. DAP was LKY’s trojan horse, but it has since evolved to be a an ethnic Chinese social democratic political party, with some Indians thrown in. When DAP won power in Penang (2008) Lim Kit Siang and son, Lim Guan Eng, (It’s really all in the family in the DAP) came to “brief” our Harry. More like “kow tow” said UMNO insiders when I told them what Lim Guan Eng had said in a seminar here.

Why we’ll be servants of the Peenoys

In Currencies, Economy on 22/05/2018 at 4:37 am

Yesterday, I showed u/m chart which showed that M$ a lot stronger than our S$ despite attempts by our constructive, nation-building media to show that the economy in KL was collapasing after regime change.

Well it also shows that the Peenoy peso is like S$ when Harry was leader: tua kee. S$ is the new old Peenoy peso?

 

Anwar: Beyond the sound bite of “Malaysia to scrap race policies”

In Malaysia on 21/05/2018 at 11:14 am

Behind the soundbite “Malaysia to scrap race policies”, this is what Anwar is saying publicly:

“I have said that the NEP should be dismantled but the affirmative action must be more effective. I believe that poor underprivileged Malays will benefit more through a transparent, effective affirmative action policy rather than the New Economic Policy which has been hijacked to enrich the few cronies,” said Anwar, a Malay.

https://apnews.com/fd0ca6e7b6b44219a566aae972e72192

And

He also assured Malays and bumiputeras that their rights under the new government would not be sidelined, while stressing to all not to be taken with the false propaganda about the Democratic Alliance Party, which is also part of PH.

“Felda and Universiti Teknologi Mara will not be threatened but kangkung professors can’t (be accepted),” Dr Anwar said.

(Our constructive, nation-building media)

And

When pressed on whether he would repeal the affirmative-action rules once he becomes premier, Mr Anwar said he would “honour the guarantees” for ethnic Malays as set out in the constitution. He added that other races would also receive state support based on merit and need.

“We would, of course, protect the position of the Malaysian Bumiputeras in terms of giving opportunities, but not enriching them to become billionaires,” he said at his residence in Kuala Lumpur shortly after being released from prison on a sodomy charge he said was politically motivated.

Bloomberg via https://www.todayonline.com/world/anwar-reassures-malays-who-fear-they-may-lose-racial-advantage

(Note this Bloomberg extract was added at 12 pm on day of publication)

Btw, this is the first of a few short pieces on the reality behind his words. Because words are an important part of his armoury, ignore the sound bites but listen carefully to the details.

Btw2, I think it’s great that he and Tun M have teamed up again. I was in the 80s and 90s, what today would be called a M’sian equities specialist.After they won, I caught myself singing this http://www.bbc.com/news/business-43959687.

 

 

 

 

 

 

 

Vis-a-vis US$: S$ falls more than M$

In Currencies, Economy, Malaysia on 21/05/2018 at 5:15 am

Juz asking if our constructive, nation-building told u that?

I mean the narrative the ST etc is spinning is that changes in M’sia is upsetting investors.

M’sia: Two doctors’ routine

In Malaysia on 19/05/2018 at 11:35 am

Dr M

My instruction is very clear. I am not going to torture people . . . I want people to be treated decently.

Err Najib shouldn’t be reassured. Remember that Anwar was nor tortued  20 yrs ago when he was arrested. But the Inspector-General Police assaulted him causing him serious injuries. To be fair to Tun and IGP, Anwar provoked him bycaqlling insulting, haram names..

Now this should scare progressives in M’sia: Dr Anwar said that among the world leaders he planned to meet was Turkish president Recep Tayyip Edrogan.

Well the progressives in the US,Europe and Turkey dislike him for making himself de-facto dictator in Turkey and clamping down on human rights, freedom of the press etc.

He also believes that the way to fight inflation is to cut interest rates, something he just told investors in London. The Tutkish lira kept on falling.

Anwar could recommend Tun M try this in KL.

.

M’sia/ S’pore: Academic nuttier than cybernuts

In Malaysia, Political governance, Public Administration on 13/05/2018 at 10:26 am

(Or “Will US AG accuse our PM of theft?“)

In M’sia: ‘Mountain of challenges’/ BBC analysis applicable here too,I made fun of those anti-PAP cybernuts who shout that Mad Dog will lead a coalition of the nuts to beat the PAP in the next GE.

Well I found an even nuttier nut: he’s a M’sian-born Oz academicwho he thinks PAP is like UMNO

Meanwhile Singapore has been ruled by the People’s Action Party (PAP) since 1959, almost the same number of years as UMNO was in power. On the surface, PAP appears to be strong. In the most recent general elections, held in 2015, PAP’s share of the popular vote increased by about 10 per cent, reversing after years of decline. Many would argue that the increased vote was primarily due to the death of Lee Kuan Yew six months earlier; Singapore’s voters wanted to give LKY a last hurrah. The nation is due to hold its next general election in two years’ time and Lee Hsien Loong, the current prime minister, will hand over power to the so-called 4G (Fourth Generation) leaders. No corruption allegations akin to 1MDB have been made about the PAP leadership but there is persistent unhappiness among Singaporeans over the escalating cost of living and the paternalistic style of PAP rule. The standard joke is PAP actually stands for “Pay And Pay” party.

Given Malaysians and Singaporeans have a fairly similar political culture, the dismissal of UNMO by their Malaysian cousins may prove inspirational. As more and more Singaporeans associate PAP with surging costs – and a planned hike in the rate of GST confirmed earlier this year – the PAP brand may become toxic as well. Ordinary Singaporeans already have a negative view of the PAP elite, who graduate from the best-known universities, hold the most prestigious scholarships and serve in the Singapore Armed Forces before entering PAP politics. They are seen as totally removed from the hard lives of ordinary Singaporeans.

http://www.afr.com/opinion/mahathirs-victory-a-warning-shot-for-singapores-pap-20180510-h0zwql

The nut forgets that the PAP had 70% of the popular vote in the last GE (the UMNO-led coalition had less than 50%) and the PAP has still a two thirds majority in parly (the UMNO-led coalition lost that in 2008).

I have two questions for him, “Does he foresee any scandal like 1MDB happening here? A scandal here that has the US of A’s Department of Justice and the AG accusing the PM* of theft?”

Btw, I’ll always joke that what will bring the PAP down is for S’poreans to find out from the int’l media that our Harry had had a secret Swiss bank account. Even after Pincohet lost power in Chile, even his opponents respected him as incorruptible: he had his enemies killed but he was not corrupt, or so they tot. But Chileans lost their respect, love of him when it was discovered he had a secret Swiss bank account.

Coming back to the topic of nuts, here’s another nut. He was a FT (where the “T” stood for “Trash”): https://www.bloomberg.com/view/articles/2018-05-11/malaysia-singapore-union-flickers-back-to-life.


*OK, OK, they did not directly name Najib, but the documentation made it clear they were referring to FLOM’s hubbie.

M’sia: ‘Mountain of challenges’/ BBC analysis applicable here too?

In Malaysia, Political governance on 11/05/2018 at 11:07 am

Here’s the analysis of Jonathan Head, BBC South East Asia correspondent on the problems facing the new govt in KL. A good reason for reading it is because what faces the new govt there will be what the SDP etc face if the Oppo comes into power here at next GE or any future GE.

Yes the anti-PAP cybernuts are already predicting victory. Goh Meng Seng, Mad Dog and Lim Tean (Got time to register another Oppo party but no time to deliver on promises after raising money from public for video and rally:Where’s yr defamation video and jobs rally Lim Tean?) are already rehearsing their victory speeches.

Sorry back to the BBC analysis.

This morning Malaysia has woken to an entirely new situation, the first transfer of power in its history, albeit to a very familiar leader. But there are huge unknowns. How willingly will Barisan Nasional, the coalition which has, in various forms, run the country since independence and embedded itself into all areas of governance, relinquish power?

How well will a disparate coalition, united largely by their desire to oust Najb Razak, work together in government? How smoothly will the plan to gain a pardon for imprisoned opposition leader Anwar Ibrahim, and then for Mr Mahathir to hand the premiership to him within two years, actually proceed? And how will they treat Mr Najib, and his high-spending wife, both accused of greed and corruption?

After all the jubilation over an impressive act of defiance by Malaysian voters, there is a mountain of challenges to face.

For anti-PAP cybernuts who can’t make comparisons this is for them:

This morning S’pore has woken to an entirely new situation, the first transfer of power in its history. But there are huge unknowns. How willingly will the PAP which run the country since before independence and embedded itself into all areas of governance, relinquish power?

How well will a disparate coalition led by Mad Dog Chee, united largely by their desire to oust the PAP work together in government? And how will they treat ministers accused of incompetence or corruption by the most rapid supporters of Dr Chee?

After all the jubilation over an impressive act of defiance by S’porean voters, there is a mountain of challenges to face.

 

Why Anwar will have a problem with Tun M

In Malaysia on 10/05/2018 at 10:55 am

Under the deal that the two struck, Dr Mahathir will be PM and will seek a royal pardon for Anwar. When all that happens (time frame of two years) and Anwar wins a parly seat, Tun  Mahathir will step down and Anwar will become PM.

Well even assuming all these things come to pass, Tun M could still cause problems for Anwar. Tun M is more LKY than Harry. This is what Najib said recently about Tun M.

Mr Najib spoke of his falling out with Dr Mahathir, who has accused the Prime Minister of everything from theft to redrawing electoral boundaries to Umno’s advantage.

Mr Najib said Dr Mahathir presided over several district redraws and the recent changes were to “take into account some demographic changes”.

“I think he’s obsessed about control, about calling the shots, in fact, when we were quite close together he even suggested establishing a council of elders,” said Mr Najib.

“Of course, you can imagine who’s going to chair the council of elders and a sitting prime minister after every Cabinet, I suppose I would have to march to his office to get his consent.”

“He wanted me to do his bidding,” Mr Najib said.

Bloomberg via https://www.todayonline.com/world/najib-predicts-hell-extend-grip-power-malaysia-election-after-2013-vote-scare-1mdb-mistakes

Najib on Tun M

Najib shows power that Lee Jnr can command as PM

In Political governance, Public Administration on 09/05/2018 at 11:28 am

Najib said in a recent interview “that Malaysia’s attorney-general later cleared him of wrongdoing”, adding for good measure, “you cannot just accuse somebody of being a thief or anything unless there is evidence”.

Bit rich of Najib to say AG had cleared him. The AG was planning to charge him but was sacked (OK, Ok officially he resigned because of ill-health) before he could charge Najib

As either FT or Economist said about Najib:

He has shored up his position by sacking dissenting senior government figures, curbing freedom of speech, hamstringing investigations, gerrymandering, and increasing handouts.

Accusations against Najib

1MDB, which since 2015 has been the subject of global probes into billions in lost funds.

Mr Najib himself faced allegations — which he denied — of misappropriating around US$700 million (S$929.45 million) that was channelled into his personal accounts before the 2013 election.

Now what Najib did to his AG and others, our  veryPM can likewise do here, if pushed in a corner.

The following (talking about our constitution) also applies to the constitutional framework in M’sia: hence Najib’s powers.

our constitution was drafted by ang mohs and locals steeped in the tradition that the ruling elite know best, certainly not the demos or mob or masses or ordinary people.

The drafters probably had liberal instincts but were elitists having gone to elite schools here or in the UK, and then to Oxbridge colleges. The mob are only allowed a choice of their dictator every 4-5 yrs. To further ensure the mob doesn’t get ideas beyond their station, it was drafted in such a way that all the colonial-era laws still applied and were “deemed” constitutionally legal.

In S’pore we have rule by law not the rule of law.   

And assuming Najib and BN lose the election but decides to stay in power, we’ll see what further powers he can wield though he’ll need the acquiescence of the commanders of the police and military, the AG, Chief Justice and the king. The last is the joker who can derail his plans to retain power if he and BN loses the election. While he’s a constitutional monarch, he also has to answer to the other sultans who elected him.

In S’pore, given the way Hali became president, #hardlymahpresidentit’s reasonable to doubt Hali ever disagreeing with the PM.

And I’m the guy who in March 2016 tot she could thrash TCB, and I said that I’d have voted for her despite having voted for TCB.

Sigh.

 

M’sia: Now this is gerrymandering

In Malaysia on 08/05/2018 at 4:38 am

Anti-PAP types who allege the PM gerrymanders seats here to help his PAP should go see how it’s really done in M’sia. LOL.

These boundary changes now leave some opposition strongholds with populations five or six times higher than rural constituencies, which tend to support the governing Barisan Nasional coalition, dominated by Mr Najib’s UMNO party.

Some estimates show Barisan getting an extra eight of the 222 parliamentary seats from these changes, and that it could win a majority with as little as 20% of the popular vote.

Opposition supporters have for many years complained of unfair advantages like this. This time some believe the election is so rigged it is hardly worth contesting.

http://www.bbc.com/news/world-asia-43985623

And then this happened to Nurul Izzar Anwar, star opposition candidate and eldest daughter of Anwar Ibrahim

recent and controversial boundary changes, and the inclusion of the votes of thousands of police officers who tend to support the government, have significantly reduced her prospects of holding Lembah Pantai.

But being the daughter of Anwar means Ms Nurul has been moved to contest a safe seat once held by her father, in opposition-dominated Penang.  Wants to change system of privilege? Must be joking right?

Vietnam: Where yr Samsung HP comes from

In Vietnam on 04/05/2018 at 4:00 am

OK most probably.

Samsung makes about half of its global output of smartphones in Vietnam, including its flagship Galaxy series. It employs some 100,000 people in the south-east Asian country and its output there accounts for roughly one-quarter of Vietnam’s export revenues.

FT

Imagine if Foxcomm and Apple decide to move iPhone manufacturing and assembly to Vietnam: bye bye Grandpa Xi.

Intel has a big plant there. It’s been there a long time.

Fake news law: Malays not stupid

In Malaysia on 03/05/2018 at 10:52 am

The Malays ruling M’sia show that authorities in SE Asia (S’pore included) got a point on need of a “fake news” law.

M’sia’s first use of its newly passed “fake news” law will have ang moh tua kees here wondering what hit them. They’ll have to admit that the actions of one Sulaiman (who pleaded guilty) shows the need for such a law even if it limits freedom of expression:

A Malaysian court has convicted a Danish citizen over inaccurate criticism of police on social media, the first person to be prosecuted under a new law against fake news.

Salah Salem Saleh Sulaiman, 46, was charged with spreading false news after he posted a video on YouTube accusing police of taking 50 minutes to respond to distress calls after the shooting of a Palestinian lecturer on 21 April.

Police said they took eight minutes to respond to the shooting in the capital, Kuala Lumpur. The charge against Sulaiman said he had “with ill intent, published fake news through a video on YouTube”.

Sulaiman, who was not represented at the court hearing, pleaded guilty, but said the video was posted in a “moment of anger” and he did not mean any harm. “I agreed I made a mistake … I seriously apologise to everybody inMalaysia, not just in the Malaysian police,” said Sulaiman, a Danish citizen of Yemeni descent.

From ang moh tua kees favourite newspaper https://www.theguardian.com/world/2018/apr/30/first-person-convicted-under-malaysias-fake-news-law

It’s a sad day for the ang moh tua kees here and the rest of SE Asia because

Governments elsewhere in south-east Asia, including Singapore and the Philippines, have also proposed laws aimed at clamping down on the spread of fake news, to the dismay of media rights advocates.

When CIA bombed Indonesia

In Indonesia on 01/05/2018 at 11:04 am

This

Charles Chong says historian Thum had ‘engineered’ support for himself, points to ‘coordinated attempt’ with ‘foreign actors’ to subvert parliamentary process

and the sebsequent KPKBing by the ang moh tua kees (“witch hunt”) reminded me of documented foreign interference in the affairs of SE Asian countries in the 1950s.

The story of an almost forgotten episode in the histories of the CIA and Indonesia. The CIA’s airforce was supporting rebels in Sulawesi.

http://www.warhistoryonline.com/guest-bloggers/pby-catalina-26-invaders-p-51-mustangs-cia-rebel-air-force-attacking-indonesia-1958-m.html

The CIA was also active in supplying arms to the Acheh rebels at the other end of Indonesia.

This was happening around the time the British detained people like Devan Nair and Lim Chin Siong here for subversion.

Then there was the incident related in Why PAP (and PMs) sue and sue a year later here. Might not be the CIA directly but weren’t the KMT friends of the CIA? 

“Just because you’re paranoid doesn’t mean they aren’t after you.”

― Joseph Heller, Catch-22

Allah also against Uber?/ Our “religion”

In Indonesia on 24/04/2018 at 6:06 am

In Indonesia Uber “has been outmanoeuvred by Go-Jek’s Go-Car, launched in 2016” says the FT.  It’s also ahead of Grab, co-founded by a cross-wearing M’sian Christian, now living in S’pore: Real reason why Uber lost to Grab.

Indonesia is impt because it’s 2/3 of the regional market according to the FT. But can Allah help out in other SE Asian countries?

Excluding Vietnam (Jesus and Buddha), M’sia (Allah got competition with Jesus, Buddha, Guan Ying, our Harry and the Hindoo gods), the Philippines (Jesus and Durterte), Singapore (Hard Truths) and Thailand (Buddha) have varying prohibitions on motorbike ride-hailing, Go-Jerk’s strength (Allah likes motorbikes?), FT points out.

 

GIC invests US$1.3 bn in Vietnam

In GIC on 18/04/2018 at 6:38 am

Vingroup’s Vinhomes has got GIC to invest US$1.3bn from GIC as Vinhomes prepares for Vietnam’s biggest ever share sale or IPO.

Vinhomes is the property arm oif Vingroup, a conglomerate. Property in hot in Vietnam especially in Ho Chi Minh City where Vinhomes is a big player.

Oversea Chinese not real Chinese

In China, Indonesia, Malaysia on 29/03/2018 at 8:55 am

And when the Javanese helped the Chinese in Java

When the Dutch took over Indonesia in the 1700’s, they segregated Chinese merchants and workers that otherwise lived among the Indonesians, culminating in the 1740 Batavia massacre where Chinese were targeted for death. While the Dutch embassy to the Qing dynasty apologized for the East India’s company’s murder of ethnic Chinese, the Qing Emperor told them that any Chinese who leaves Qing territory is no longer Chinese, so he didn’t care. The only people willing to help the Chinese were the Javanese they lived with, leading to the Java War (1741–43) against Dutch rule.

The rest of the Quora article which talks about the Chinese coming in SE Asia before the 19th century migrations.

Ask the Indonesians/Malaysians


In the 1200’s, the Yuan dynasty’s fleet invaded Java but was repelled by the Singhasari kingdom, which in turn benefited from captured Chinese technology such as better ships. A century later the Ming dynasty would send their treasure fleets through Southeast Asia in a mission of peaceful trade, with some Chinese muslims staying behind to join the Muslim communities of Southeast Asia.

The Ming dynasty eventually established a peaceful relationship with the Muslim Malacca sultanate, with thousands of Fujian Chinese immigrating there. When Malacca fell to Portugal, the Ming dynasty responded with a boycott of Portuguese goods (only trading with Malaysians), even executing Portuguese envoys/bandits (sources vary), the Ming dynasty already had previous problems with Portuguese pirates. Relations with Portugal would improve over time though.

When the Dutch took over Indonesia in the 1700’s, they segregated Chinese merchants and workers that otherwise lived among the Indonesians, culminating in the 1740 Batavia massacre where Chinese were targeted for death. While the Dutch embassy to the Qing dynasty apologized for the East India’s company’s murder of ethnic Chinese, the Qing Emperor told them that any Chinese who leaves Qing territory is no longer Chinese, so he didn’t care. The only people willing to help the Chinese were the Javanese they lived with, leading to the Java War (1741–43) against Dutch rule.

 

What “fake” news will be allowed

In Malaysia, Media, Political governance, Public Administration on 27/03/2018 at 11:01 am

Adding to my tots in Fake news traffickers will be hanged

there was this

“Any information related to 1Malaysia Development Bhd (1MDB) that has not been verified by the Government is considered fake news.

Datuk Jailani Johari (pic), the Deputy Communications and Multimedia Minister, explained that fake news is information that is confirmed to be untrue, especially by the authorities or parties related to the news.”*

Read more at https://www.thestar.com.my/news/nation/2018/03/21/unverfied-info-on-1mdb/#QKmu29kU273TUQuU.99

M’sia is introducing legislation that would result in people found guilty of publishing “fake news” being jailed for up to 10 years or face fines of up to M$500,000: http://www.bbc.com/news/world-asia-43538109

This reminded me of

 

 

The Straits Times (ST) splashed on the front page today (16 Mar) the headline, “Fewer foreigners, more locals in workforce last year“.

It reported that the number of foreigners working in Singapore fell by 32,000 last year – the biggest in 15 years, ST said.

However buried within the artcle ST did report that the decline was mostly due to fewer work permit holders due to weakness in the construction and marine industries. For more read https://www.theonlinecitizen.com/2018/03/16/net-increase-in-foreign-pmets-last-year/

I think ST’s headline is more than misleading or misrepresenting the truth: it’s “fake” news analysis. Inconvenient facts are “hidden” from view.

Sadly this is the kind of “fake” news that will be allowed. Why? Because ST and other constructive, nation-building publications and channels practice it as part of nation-building.

In times of universal deceit, telling the truth is a revolutionary act

George Orwell

Sadly in S’pore our anti-PAP cybernuts do not believe in doing revoluntary acts. They’d rather tell lies too: think Phillip Ang.


*But then

Communications and Multimedia Minister Salleh Said Keruak (above) today assured that the US Department of Justice (DOJ) filings on 1MDB won’t be considered fake news.

He said this during a meeting with foreign correspondents today which also saw the government tabling its the Anti-Fake News Bill in Parliament.

“You can quote them, what did they say, based on the filings. It is not considered fake news.

“It’s their views. Like DOJ, you quote them, what they said,” he said.

 

Smart Peenoy

In Uncategorized on 24/03/2018 at 5:06 am

SM, a big mall operator in the Philippines,  is building call centre offices beside its malls to make it easy for their employees to pop in and spend.

Najib or Cambridge Analytica is lying

In Malaysia on 23/03/2018 at 4:36 am

Who to believe?

In the Channel 4 investigation, Malaysia was named as one of the countries in which Cambridge Analytica had operated.

A member of the country’s opposition party is now calling on Prime Minister Najib Razak to reveal if he used the firm in the 2013 general election.

“Prime Minister Najib Razak must explain if he used Cambridge Analytica to manipulate voters… and whether he is using unethical manipulation techniques in the upcoming [election],” Wan Saiful Wan Jan said in a statement.

Mr Najib has denied using the company, although its website says it supported his party “with a targeted messaging campaign highlighting their school improvements since 2008”.

http://www.bbc.com/news/world-43476762

Ho Ho Ho: Google agrees with Temasek

In Indonesia, Internet, Private Equity, Temasek on 31/01/2018 at 7:31 am

Years ago, Temasek (along with big private equity firms KKR and Sequioa) invested in Indonesian unicorn Go-Jek. The company provides ride-hailing, food delivery and e-payment services.

Well now, Google has invested in Go-Jek as it seeks to further tap Indonesia’s growing internet economy. Google said on Monday it had chosen to invest in Go-Jek as “there was still more we can do to support and participate in Indonesia’s growth”, noting the country is home to the world’s fifth-largest population of internet users. It did not disclose the size of the investment.

Cybernuts should remember that Temasek and Ho Ching don’t always get things wrong (HO HO HO: How Shi**y is StanChart?).

In fact, Temasek (and GIC) like other professionally run SWFs (Think the Arabs but not the Chinese. Think the Chinese investment in Noble House that will be almost wipewd out.) often get investments more right than wrong.

Another deal Temasek (and GIC) got right: Xiaomi’s IPO will make anti-PAPpyists frus.

HO HO HO: How Shi**y is StanChart?

In Banks, China, Emerging markets, Hong Kong, India, Temasek on 30/01/2018 at 6:11 am

In 2016, when China as a country grew at close to 7 per cent, StanChart’s revenue across greater China and north Asia declined by 15 per cent. While Southeast Asia GDP grew by nearly 5 per cent, StanChart’s revenue there shrank by 5 per cent. And in Africa and the Middle-East, another fast-growing region, the bank’s revenue was down 4 per cent. StanChart’s full-year numbers for 2017 have yet to be published, but at the last count its ROE was running at about 5 per cent …

Today’s FT

Only In Indonesia

In Indonesia on 15/01/2018 at 2:09 pm

Floor collapses at Jakarta stock exchange, Reuters quotes unconfirmed reports.

Dozens of people were seen running from the Indonesia Stock Exchange in central Jakarta on Monday, Metro TV showed, after unconfirmed reports of a collapsed structure, possibly a floor, inside the building.

The director of the stock exchange, Alpino Kianjaya, declined to comment on the incident …

https://www.theguardian.com/world/2018/jan/15/floor-collapses-at-jakarta-stock-exchange-reports-say

Chinese M’sian on retiring to M’sia

In Malaysia on 15/01/2018 at 10:40 am

Refering to https://www.channelnewsasia.com/news/asiapacific/malaysia-among-top-5-best-places-to-retire-in-the-world-9831836 where M’sia was 5th, a friend posted on Facebook

Malaysia is a great place to live if you have no stake in the political outcome, nor a career to develop. Rental is very reasonable, food is delicious and inexpensive, majority of people are generally warm and welcoming, a wide range of cuisine on offer in the cities, lovely beaches, multicultural experiences, and the list goes on.

She’s right.

But she forgot that S’pore’s a lot more safer.

So much safer, than a cybernut didn’t move to M’sia because he tot it wasn’t as safe as S’pore. Yet he KPKBs about the PAP. Another reason is that wi-fi and the internet is lousy. Btw, he uses SingHealth while KPKBing about its service (wants to see doctor immediately, should not wait) and cost. When asked why he didn’t go private, he said he wasn’t rich enough.

Incidentally, other Asian countries that made the list were Thailand, Cambodia, Philippines, Vietnam and Indonesia.

Harry’s “real son”

In Uncategorized on 30/12/2017 at 9:13 am

When I read this  and remembered the allegations about Harry complaining, after his resignation from the cabinet, that our PM, his son, was a softie and that DPM Teo would have made a better PM, I couldn’t help but think that Hun Sen (he says he admires LKY) is the kind of son that he was pining for.

Hun Sen, who has been prime minister for 32 years and says he intends to remain in the job for another decade. Not content with securing a ban on the main opposition party, he is now persecuting unions, NGOs and anyone else who criticises the government.

https://www.economist.com/news/asia/21732850-unions-ngos-and-environmental-activists-are-all-feeling-squeeze-cambodia-systematically

Hun Sen is no softie. He carries a hatchet and is not afraid to use it. If he had siblings who behaved like Dr Lee and Lee Hsien Loong, they’d be in prison at the very least.

 

 

Ho Ching doesn’t rest

In Banks, Indonesia, Temasek on 27/12/2017 at 8:47 am

PM and wife may be on hols but MUFG and Temasek have just done a deal that hopefully (Indon regulators willing) would see the Japanese bank acquiring a 73.8% stake in Bank Danamon from its largest existing shareholder, Temasek (Temasek wants to be rid of it’s stake after the Indons blocked a merger with DBS Indonesia.)

the Japanese bank will buy 19.9 percent from Singapore state investor Temasek Holdings [TEM.UL] for 15.875 trillion rupiah ($1.17 billion), a deal it expected to close within a few days.

MUFG will then raise the stake to 40 percent, pending regulatory approval, between the second and third quarters of 2018.

MUFG said after that, it sought approval to hold at least 73.8 percent in Indonesia’s fifth-largest bank by offering to buy out other shareholders in addition to acquiring shares from Temasek.

https://www.reuters.com/article/us-mufg-m-a-bank-danamon/japans-mufg-seeks-majority-of-indonesias-bank-danamon-idUSKBN1EK11H

Our Asean neighbours on this list of shame

In Environment on 15/12/2017 at 5:18 pm

 Waste comparisons by country

Wonder where we are on this list if calculations were done on a per capita basis?

He M’sian born Chinese leh

In Malaysia on 14/12/2017 at 4:25 pm

Why would anyone think Hock Tan is honest? Ask the Bumis and S’poreans about the trustworthiness of M’sian-born Chinese.

Is Broadcom making a jobs promise it can’t fulfill?
So argues Andrew in his latest column, citing the $1.5 billion in “synergies” — read, “cost-saving layoffs” — that the analysts think the chip maker could reap by buying Qualcomm. Based on Broadcom’s moves with previous takeovers, that could translate into about 5,400 jobs being cut.
That runs contrary to what Broadcom’s C.E.O., Hock Tan, told President Trump at a news conference last month announcing that the company would move its corporate headquarters to the U.S. from Singapore.
More from Andrew’s column:
Mr. Tan of Broadcom has boasted that he plans to spend $3 billion “in research and engineering.” Mr. Tan has been given high marks for managing the portfolio of Broadcom assets effectively, but he has never been known for industry-changing innovations.

NYI Dealbook

Hali: MSM keeps fueling the rage

In Media, Political governance on 21/09/2017 at 7:25 am

Juz when S’poreans unhappy about Hali’s appointment as president were getting tired of KPKBing about it, with one unhappy oldie (Maybe Kopi Lim lim kopi with him?) saying on FB,

There is a wise saying: When you taunt or ridicule a person once you can claim that’s lampooning, Repeat it and it becomes a joke in bad taste. Repeat it the second time: that’s persecution ! So, let’s be upright and charitable and not conflate the person and the issues.

the constructive, nation building media decided to stroke our anger

The rise of an ethnic minority to the country’s highest office in the country has enhanced Singapore’s reputation as a meritocratic state, said observers from Indonesia and Malaysia.

Today

The best responses to this “provocation” is too funny not to report

Yeah. Reserving the (s)elections for a certain race is most definitely meritocracy in action. Just like gang rape is democracy in action

And

sure, running a race with no opponents and winning is extremely meritocratic

And

Did they mention anything about the other two candidates being disqualified… even though, they’re more capable than her?

And did they mention about the PM post not ready for non-chinese?

And

My dictionary reads meritocracy is define as government (in this case president) selected according to merit. What merits does she has? Moreover, it’s a “Reserved” appointment.

Dictionary published fake definition?

First Hali, then GCT, and now the the constructive, nation building media are determined to keep us angry until the next GE? Bet u PM will be next to stroke the anger.

Related article: Doesn’t Hali realise that “Speaker” is BS post?

M’sia tidur

In Malaysia on 27/08/2017 at 6:07 am

Says a FB friend in response to this pix which shows M’sia got 8 out of 11 country flags wrong in a medal tally broadcast on TV during the SEA Games

No automatic alt text available.

MAS: M’sians Are Stupid.

 

While PM rows with siblings and tweaks presidency (cont’d)

In Uncategorized on 17/08/2017 at 10:20 am

Peenoys stealing our lunch and dinner

The Philippine economy is one of the peppiest in South-East Asia. Last year it expanded by 6.8%, overtaking those of Singapore and Malaysia in size. The World Bank expects it to grow at a similar pace this year and next.

https://www.economist.com/news/asia/21726315-when-it-comes-jobs-and-investment-rodrigo-duterte-more-reformer-wrecker-philippine

M’sia, not S’pore is the real Third China

In China, Malaysia on 09/08/2017 at 7:08 am

As today is our National Day, I tot readers should read https://www.bloomberg.com/news/articles/2017-07-31/chinese-money-pouring-into-malaysia-could-help-najib-razak-with-votes

Investment in infrastructure is good for Malaysia whether it comes from China or the U.S., according to Xu Bu, China’s ambassador to the Association of Southeast Asian Nations.

“Whoever comes to power that really doesn’t matter,’’ he said in a July interview. “Whoever comes to power in Malaysia, the leaders or the people in Malaysia they need investment.’’

Remember all the Chinese in M’sia: a biggish minority. 

The real reason China snubbed PM over OBOR party?

In China on 07/08/2017 at 1:09 pm

The cybernuts KPKB that PM’s criticism of China’s actions in the South China Sea led to him being excluded from China’s big OBOR party.

Taz not the real reason. China thinks S’pore is the US of A’s running dog par excellence.

——————————————-

MHA said that Prof Huang had co-operated with foreign intelligence organisations and agents to “influence the Singapore Government’s foreign policy and public opinion in Singapore”.
Read more at http://www.channelnewsasia.com/news/singapore/mha-s-statement-on-huang-jing-lky-school-professor-who-tried-to-9093570

—————————–

China routinely criticises the US for conducing spy missions over the South China Sea and East China Sea. Guess who is helping the US conduct spy missions over the South China Sea?

S’pore.

The BBC reported in Dec 2015

The United States has deployed a P-8 Poseidon spy plane to Singapore for the first time.

It is the latest in a series of US military actions seen as a response to China’s increasingly assertive claims over territory in the South China Sea.

The US says it will also base a military reconnaissance plane at Singapore’s Paya Lebar air base.

US P-8s already operate from Japan and the Philippines, and surveillance flights have taken off from Malaysia.

The P-8 was deployed on Monday, and will remain in Singapore until 14 December.

In addition to the P-8 deployment, the US says it will operate a military plane, either a P-8 Poseidon or a P-3 Orion, from Singapore for the foreseeable future, rotating planes on a quarterly basis.

http://www.bbc.com/news/world-asia-35036220

The flights from S’pore unlike that from M’sia and PeenoyLand are regular, not ad hoc.

The flights have one primary aim, monitoring the movements of Chinese nuclear subs based in Hainan.  They also are intended to show the finger to Chinese claims over the South China Sea.

Three littoral combat ships have also been deployed to Singapore since 2013. Now there are none, but two are going to be based here from next year http://thediplomat.com/2017/06/us-navy-plans-to-deploy-two-littoral-combat-ships-to-singapore-in-2018/

So of course China upset.

Btw, here’s serious money to be made from OBOR.

 

Shumethings never change in M’sia:

In China, Malaysia on 08/07/2017 at 5:52 am

Malays are “hewers of wood and drawers of water”

In Xiamen University Malaysia

The students study in English and mostly converse in Chinese languages. For now, Malay – the language of around 60% of the population – is confined mostly to campus staff working in convenience stories and serving student meals in cavernous dining halls, but officials hope to attract more Malay students as time goes on.

https://www.theguardian.com/world/2017/jul/07/going-global-china-exports-soft-power-with-first-large-scale-university-in-malaysia

HoHoHo: Why Alibaba chose KL not S’pore

In China, Logistics, Malaysia on 26/05/2017 at 4:30 am

Guess we now know why Jack decided to use M’sia, not S’pore, as a logistics base despite Alibaba owning a stake in SingPost. Alibaba knows who Beijing considers a friend.

Earlier this yr,

Alibaba kicked off its grand plan for global trade without frontiers with a bilateral deal designed to ease the passage of goods shipped by smaller businesses between China and Malaysia. The pact, established as a public-private partnership in Malaysia’s digital free trade zone, will focus on infrastructure, including a fulfilment centre and co-operation on electronic payments and financing. So far, it is strictly logistics: favourable tariffs are still under discussion.

FT

 

 

S’pore sabos M’sia

In Malaysia on 09/04/2017 at 6:17 am

This yr’s Malaysian Grand Prix will be the country’s last after 19 years on the Formula 1 calendar.

Malaysia had struggled in recent years to attract a significant crowd, its appeal damaged by the more glamorous night-time event on a street track in Singapore, which made its debut in 2008.

It was confirmed in November that the race would end after the 2018 staging, but that decision has now been brought forward.

The country’s prime minister, Najib Razak, said: “The Cabinet has agreed to end the contract after considering lowering returns to the country compared to the cost of hosting the championships.”

BBC

One Tun M must really be unhappy. He made M’sia Great by bring F1 racing to the region. Now when he’s trying to make a comeback, F1 in M’sia comes to an ignominious end because of dwindling crowds and revenue because of S’pore.

Forest City submerged/ Singkies in Johor drowning

In China, Malaysia, Property on 06/04/2017 at 10:51 am

Yesterday, the South China Morning Post reported that the Country Garden, the Hong Kong-listed developer behind Forest City, would refund payments on its Johor Forest City project to mainland Chinese buyers hit by a crackdown on capital controls.

Zhu Jianmin, vice-president of the Chinese developer told that investors who had made down payments but were now unable to make further payments could cancel their transactions without paying a forfeit fee. The Hong Kong-listed developer stopped sales of the Malaysian project in China amid tightening capital controls, imposed as Beijing seeks to curb outflows and limit downward pressure on the renminbi.

This 2016 article https://www.bloomberg.com/news/features/2016-11-21/-100-billion-chinese-made-city-near-singapore-scares-the-hell-out-of-everybody tells how hard Forest City was being sold to the PRCs.

For those Singkies investing in Johor and M’sia good luck:

“I am very concerned because the market is joined at the hip, if Johor goes down, the rest of Malaysia would follow,” said Shanker, at Axis-REIT Managers, who estimates that about half the units in Iskandar may remain empty. “If the developers stop building today, I think it would take 10 years for the condos to fill up the current supply. But they won’t stop.”

More on Alibaba in KL

In Malaysia on 27/03/2017 at 1:36 pm

Further to this, last week, as part of a digital free trade zone launched by M’sia’s PM and Jack Ma. Alibaba announced it would set up a regional logistics hub near Kuala Lumpur airport.

Funny S’pore Inc missed this deal. Wonder why?

Interesting Jack Ma signs this with M’sia, not S’pore

In Economy, Malaysia on 25/03/2017 at 7:00 am

A common comment on social media and blogshere when not dissing the PAP is that our SMEs serve locals. Even the PAP administration grumbles that SMEs not going abroad.

So it’s interesting to read that Alibaba’s Jack Ma took a step on his plan for an electronic trade platform to ease the cross border exports and imports of goods for SMEs by announcing in M’sia that M’sia is the first country outside China to sign up to Alibaba’s electronic world trade platform.

M’sian defence policy sounds like a bad joke

In China, Malaysia on 22/03/2017 at 9:54 am

Malaysia is buying naval vessels from China in order to better defend its islands in the South China Sea from China?

Malaysia is gunning for a revamp of its ageing naval fleet, as countries in the region prepare to face threats from the influx of Islamic State (IS) militants fleeing Mosul, and from rising tensions in the South China Sea.

Malaysia’s navy aims to replace all 50 vessels in its ageing fleet as the country cut its total defence budget by 12.7 per cent to RM15.1 billion (S$4.76 billion) this year.

That will be led by the procurement of four littoral mission ships (LMS) built in collaboration with China.

“The LMS are designed for many aspects of maritime security such as dealing with cross-border crime, piracy, anti-terrorism, and search and rescue operations,” Malaysian navy chief Admiral Ahmad Kamarulzaman Ahmad Badaruddin …

“These ships would be very capable of dealing with the threat posed by [IS] and other maritime security concerns,” …

Defence spending in the Asia-Pacific region is expected to hit US$250 billion (S$349.2 billion) from 2016-20, IHS Jane’s Defence Weekly said in December, and Malaysia intends to improve on its capabilities alongside other states in the hotly contested South China Sea even as its defence budget narrows.

Malaysia is expected to formalise the LMS deal with China at the Langkawi International Maritime and Aerospace Exhibition (LIMA) this week to build four LMS and acquire the technology to build more of the ships at home.

Today

Not afraid that the Chinese will embed malware to cause problems when RMN ships attack Chinese vassals?

M’sia boleh. So trusting.

Time for Super M to make a loud noise.

Railway between Port Klang and Kuantan port

In Malaysia on 25/02/2017 at 5:33 am

Cybernuts have been KPKBing about China trying to kill our port despite Cosco investing here big time.

Well it seems they missed this Chinese investment in M’sia as they’ve not been KPKBing. Eugene Tavano kooning isit?

In October 2016, the Malaysian government announced that China Communications Construction Co. will construct and China Export-Import Bank will finance the construction of the 620 km East Coast Rail Link (ECRL), a project estimated to cost RM55bn. The ECRL will connect Kuantan Port on the east coast of Peninsular Malaysia with Port Klang on the west coast.

This will allow the transshipment of goods between the Straits of Malacca and the South China Sea without having to go past Singapore.

 

 

High-speed train: PRC cos not welcomed in S’pore

In China, Infrastructure, Malaysia on 11/02/2017 at 7:17 am

The Land Transport Authority (LTA) appointed AECOM Singapore to conduct an advanced engineering study for Singapore stretch of the Singapore-Kuala Lumpur high-speed rail (HSR) infrastructure, it announced onFeb 8.

The US engineering firm will provide architectural, civil, electrical, mechanical and other design services required for the Jurong East terminus, tunnels and the bridge across the Straits of Johor.

It has also appointed specialist consultants, none of which are from PRC:

But it’s different in M’sia:

The Singapore-Kuala Lumpur high speed rail is a project that is keenly eyed by Chinese rail companies. While the contract to construct the Singapore-KL high-speed rail line has yet to be issued, “local media reports suggest that Singapore prefers a Japanese or European bidder but Malaysia favors a Chinese firm” (Martin, 2016). Indeed, China Railway Group, a Chinese state-owned enterprise, has formed a consortium with a local developer to purchase 60 percent of the land parcel for the RM 160 billion Bandar Malaysia real estate project, located at the KL terminus of the Singapore-KL high speed rail line, from 1Malaysia Development Berhad (1MDB) — the Malaysian state-owned investment fund whose financial troubles, as we shall shortly see, have triggered the current political crisis.

When completed, Bandar Malaysia will serve as the new transportation hub for KL, connecting the high speed rail line with KL’s existing bus and rail lines, and it will also house China Railway Group’s USD 2 billion regional headquarters. Due to the close working relationship between the Malaysian government and Chinese investors — including China Railway Rolling Stock Co. which has supplied Malaysian Railway with trains since 2010, and which also set up a manufacturing plant in Malaysia in 2015 — some experts believe China holds the advantage in securing the contract for the Singapore-KL high-speed rail line. Looking to the future, China Railway is already “in discussions with the Thai government to build a high speed rail connecting Bandar Malaysia to Bangkok”.

http://ippreview.com/index.php/Home/Blog/single/id/338.html

What the junior minister of Truth really meant

In Media on 31/01/2017 at 4:35 am

In the current environment where things happen very fast, it is critical for Singapore to continue to have a national broadcaster that people can turn to as a credible and reliable source of news.

Chee Hong Tat, Minister of State at the Ministry of Communications and Information, said this during a visit to Mediacorp on Saturday (Jan 28)…

CNA

What he really meant is that the PAP administration needs running dogs like MediaCorp and SPH with people like Debra Soon and Sumiko Tan inside to give S’poreans the news that the PAP wants S’poreans to hear, see or read; not the news that the a free media forces* on its audience.

—————————————

Index of Press Freedom

Our Asian peer group all above us: Taiwan (51st), Hong Kong (69th), South Korea (70th) and Japan (72nd)

Our Asean nieighbours above us: Thailand (136th), Indonesia (130th), Philippines (138th), Burma (143rd) and Malaysia (146th).

The same are in the last three positions: Turkmenistan (178th), North Korea (179th) and Eritrea (180th).

———————————-

To be fair S’pore at 154th on the Index is a long way from N Korea. It’s even ahead of Brunei at 155th.  Vietnam, Laos and Cambodia somewhere lower.

Maybe the propaganda ministry’s and MDA’s ministers and bureaucrats, MediaCorp and SPH and their journalists and editors should work harder to get us down to the level of China (176th)?

Thank god, Yaacob the Info minister is a Malay, not an ambitious, hardworking, ruthless Cina like Chee Hong Tat. If he were minister he’d install a KPI that we must match at the very least China’s ranking .

—————————————————————-

*Think the lies the NYT, Washington Post and CNN feed the Americans who only have Fox and WSJ *for “fair and balanced” reporting. They are even turning to the BBC which in the UK is dissed by many conservatives as a bunch of leftists for a more nuanced view on Trump the Triumphant.

Yup I am sceptical about the “free media”. What one of the best editors in the UK wrote about his time editing the Sunday Times:

Murdoch has too much power and influence: that he controls every aspect of his newspapers on three continents, dictating an editorial before breakfast, writing headlines over lunch, and deciding which politician to discredit over dinner. He has been known to do all three. But he does not generally work like that: his control is far more subtle.

For a start he picks as his editors people like me, who are mostly on the same wavelength as he is: we started from a set of common assumptions about politics and society, even if we did not see eye to eye on every issue and have very different styles. Then he largely left me to get on with my work.

Editorial freedom, however, has its limits: Even when I did not hear from him and I knew his attention was elsewhere, he was still uppermost in my mind. When we did talk he would always let me know what he liked and what he did not, where he stood on an issue of the time and what he thought of a politician in the news. Such is the force of his personality that you feel obliged to take such views carefully into account. And why not? He is, after all, the owner.

http://www.vanityfair.com/news/1996/12/rupert-murdoch-199612

**Both owned by Murdoch.

 

 

S’pore angle in major UK corruption case?

In Airlines on 23/01/2017 at 5:06 am

Rolls-Royce admitted last week a series of bribery and corruption offences around the world (some going back decades) as part of a £671m settlement with the UK, US and Brazilian authorities. In SE Asia, Garuda, AirAsia and Thai executives at the time have been implicated. In Indonesis, the govt has announced an investigation against previous management.

So it is interesting to read in today’s FT that

Singapore’s Corrupt Practices Investigations Bureau said that it was “working closely with the relevant authorities” in connection with the investigation into Rolls-Royce.

Does this mean SIA executives are being investigated?

Get in the case Terry’s Online Channel.

Asean loves Rolex and Gucci

In Uncategorized on 01/01/2017 at 4:49 am

Achtung if got money in Indon, M’sia and India

In Currencies, Emerging markets, India, Indonesia, Malaysia on 21/12/2016 at 5:38 pm

Nomura says Indonesia, Malaysia and India could be next to implement capital controls.

2017: Put on yr parachutes and crash helmets

In China, Currencies, Indonesia, Malaysia, Property on 21/12/2016 at 7:08 am

Jeremy Cook, chief economist at payments provider World First, said a combative US and a strong dollar would put pressure on Singapore, South Korea and other parts of the EM universe that have relied on US funding and a free and easy trading environment, as well as Indonesia and Malaysia.

The president-elect represents “an almost existential risk to trade”, said Mr Cook.

FT

The good news for S’poreans will be that things will also be bad for Indonesia and M’sia: they are unhappy when neighbours do better. In the past these countries had often provided some relief for the S’pore economy, when other drivers were not working. Not next year though.

Ah well, expect more bitter tots from that very bitter man, TJS.  And S’poreans should worry about servicing their mortgages and jobs.

Every penny counts, so stop drinking BS

M’sia — Currency, MH370

In Currencies, Emerging markets, Malaysia on 16/12/2016 at 4:59 pm

M$

According to Anna Stupnytska, global economist at Fidelity Investment Management countries most sensitive to rising US interest rates are Turkey, South Africa, Malaysia and Mexico, because a large amount of their debt is held by foreign investors and their economies are relatively weak. Source: BBC report.

Searching in wrong area

Yellow dot seems to be where plane fell into the sea based on the debris found off Africa.

 

https://www.theguardian.com/environment/climate-consensus-97-per-cent/2016/dec/14/oceanographers-offer-clues-to-malaysian-airlines-crash

Fish disappointed by Peenoy president

In Emerging markets on 04/12/2016 at 1:06 pm

They came to Manila Bay because of his promise to fatten them

Duterte’s landslide victory came after a campaign during which he vowed to kill 100,000 criminals in his first six months in office and told drug pushers and others: “I’ll dump all of you into Manila Bay, and fatten all the fish there.”

http://www.bbc.com/news/world-asia-38144237

Only less than 5,000 killed since his inauguration: peanuts.

Peenoy leader talks cock again

In Emerging markets on 03/12/2016 at 2:14 pm

Mr Trump is also reported to have invited President Rodrigo Duterte of the Philippines to the White House next year during a “very engaging, animated” phone conversation, according to one of Mr Duterte’s aides.

But a statement issued by Trump’s transition team made no mention of an invitation.

BBC report

 

Another day, another ass for Duterte to kiss

In Currencies, Emerging markets on 15/11/2016 at 6:07 am

The,Philippines, along with Chile, Mexico, Turkey, and Russia, have a large burden of US dollar debts, which are becoming more expensive in local currency.

And the US dollar keeps on going from strength to strength since The Donald was elected president.

So after kissing Xi’s ass so that Peenoys can catch fish in Peenoy waters, he now has to kiss Trump’s ass to make sure US MNCs continue investing in PeenoyLand.

And he wouldn’t dare curse Trump. He might find his home nuked.

Update at 7.30am:

Btw, he’s already reordering from the US, 26,000 assault rifles for his police force. He cancelled the order last week.

Why Duterte keeps cursing, dissing US

In Currencies, Emerging markets on 05/11/2016 at 6:54 am

He’s frus because Pinoys more American than Americans while he personally hates America. Beecause he got buggered by an American Catholic priest?

Let me explain.

Filipinos hold a more favourable opinion of the US (92%) than even Americans themselves says the respected Pew Research Centre. And only 22 per cent of them trust China “very much” while  76% of Filipinos trusted the US “very much”, another poll says.

Bring on the hamburgers and Coke and forget the paos, siew mais and Chinese tea.

Taz why the US can continue to ignore Duterte and treat him as another talk cock sing song Peenoy macho man who should be made aware that even a US state can beat up a bank owned by PRC: NY state fines China’s AgBank US$215m over money laundering violations. Bank is paying fine.

And why China would be wise not to throw money his way, the way they did to Hugo Chavez. (Btw, they are regretting their decision to be generous to Venezuela).

Whatever when the hegemon is annoyed, Peeso collapses and US MNCs don’t invest.

 

Peeso collapses as Empire strikes back

In Currencies, Emerging markets on 04/11/2016 at 3:11 pm

Global funds have pulled more than $600 million from Philippine stocks since inflows this year peaked in August as Rodrigo Duterte cursed while talking about President Barack Obama and announced a “separation” from the U.S. during an official visit to China. Concerns that his outbursts may jeopardize investments in the nation’s more than $20 billion business outsourcing industry have forced his administration’s top officials to assure companies their interests will be protected as the leader builds new global alliances.

And

The last time the Philippine peso neared 50 to the dollar, the global financial system was melting down and the central bank raised interest rates to defend it. This time, it has been driven by the president cursing his trading partners and his finance chief accepting the declines.

Credit Suisse Group AG and Rabobank Groep predict the currency will weaken past 50 per dollar next year, a level last seen in November 2008. Pioneer Investment Management Ltd. doesn’t see the peso as a long-term, strategic investment. The currency fell to a seven-year low of 48.618 in October, and was Asia’s worst performer in the third quarter, when it fell 3 percent.

And

American companies account for more than 70 percent of the business-process outsourcing industry’s revenue, which is estimated at $22.9 billion this year, according to IT & Business Process Association of the Philippines. The industry is set to become a key foreign-exchange earner amid fluctuations in the amount of money remitted by overseas workers, which makes up about 10 percent of the country’s gross domestic product. Exports have fallen for 17 straight months.

While American companies will continue operating in the Philippines unless official sanctions are imposed, the peso may slide further should the president continue to surprise markets with his “unorthodox rhetoric,” according to Stuart Allsopp, head of country risk and financial markets strategy in Singapore at BMI Research, a unit of Fitch Group.

http://www.bloomberg.com/news/articles/2016-11-01/duterte-seen-talking-peso-beyond-50-level-reached-in-2008-crisis

Causeway relations: No barking, No growling

In Banks, Malaysia on 27/10/2016 at 5:42 am

Whatever we may think about the First Lady of M’sia (FLOM) and her hubbie (First Man of M’sia? FMOM?), let’s give them credit for one thing. They’ve not played the “S’pore” card that Tun M and other M’sian polticians used to play. They’d bash S’pore to distract attention from their actions. They’d blame their problems on S’pore’s machinations into M’sian politics.

If the following actions had been carried out when Tun M was PM, our water supply would have been cut:

— S’porean authorities investigated the circumstances in which US$681m moved from a S’pore-based bank (Falcon Bank) into a M’sian account of FMOM and then FMOM transferred US$620m back to Falcon. Falcon Bank’s local unit was ordered to close.

— They also investigated BSI Bank’s local unit over fund flows linked to Malaysia’s 1MDB. BSI’s local unit was shut down in May on account of financial irregularities and its officers were charged in connection with the probe.


Dr M still not sarisfied, has problems with S’pore

Former Malaysian prime minister Mahathir Mohamad has attacked Singapore’s handling of alleged money-laundering linked to Malaysian state investment fund 1Malaysia Development Berhard (1MDB), accusing the Republic of not targeting those accused of siphoning off more than billions from the fund.

“Notice that the Government of Singapore is very reluctant to pinpoint the people involved in this corruption,” Dr Mahathir said in an interview with The Financial Times. “It affects Singapore’s reputation as a financial centre. It is not doing the right thing. The people who accepted the bribes are not the people who are laundering the money.”

Today


Despite all these actions, there were no accusations from FMOM or his ministers that S’pore was acting against M’sian national interests. If these investigation had happened during Dr M’s premership, he’d have declared war or, worse, cut iff the water supply. At the very least, ties between the two countries would be very chilly.

Instead the love-fest initiated by both PMs continues. We should thank Najib for his maturity.

Gregory (Scotland Yard detective): “Is there any other point to which you would wish to draw my attention?”

Holmes: “To the curious incident of the dog in the night-time.”

Gregory: “The dog did nothing in the night-time.”

Holmes: “That was the curious incident.”

Silver Blaze by  Sir Arthur Conan Doyle

Peenoy English

In Uncategorized on 23/10/2016 at 4:54 pm

Separation from the US means breaking away from a “mindset of dependency and subservience”: Philippine Foreign Affairs Secretary Perfecto Yasay.

Duterte now says he only said “separate” not “sever” ties. “It is not severance of ties. When you say severance of ties, you cut diplomatic relations. I cannot do that,” Duterte.


No Gwyneth Paltrow and Chris Martin consciously uncoupling, then. Juz the usual Peenoy BS.

———————

I tot Peenoys pride themselves on their ability to speak English fluently? They mangle the English language.

A S’porean who has Pinoy ties says on FB that Duterte has “delivered”. When I asked what he has delivered as he can only killed less than 3,000 Pinoys when he wanted to kill 3m, he told me to find out for myself. I said his failure to send me a link on what Duterte has “delivered” allows me to draw my own conclusions. It’s all a lot of BS.

Well his armed forces have the right attitude: they ignore him .

Duterte a real talk cock, sing song Peenoy?

In China on 20/10/2016 at 1:12 pm

Funny this despite Duterte telling the US to f-off

Joint naval patrols continue, as does co-operation in Mindanao; and America still has five bases on Philippine soil. The close working relationship with Filipino counterparts, the Americans insist, is as strong as ever. The Filipinos, for their part, report no change of orders from the new chief.

http://www.economist.com/news/asia/21708984-philippines-until-now-staunch-american-ally-falling-chinese-camp-rodrigo


This is what Duterte, president since June, has said recent weeks

He has branded Barack Obama a “son of a whore” for criticising his “kill them all” war on drug dealers and addicts, which has claimed thousands of lives, many of them innocent. He has demanded an end to joint naval patrols and to America’s assistance in the southern jungles of Mindanao, where American special forces advise Filipino troops fighting against Abu Sayyaf, a violent group linked to al-Qaeda. And he has questioned whether America would honour its treaty obligation to come to the Philippines’ aid if the archipelago were attacked.

——————————————————————————-

Why he has been brown-nosing China’s ass?

He wants to see mangoes to China.

The Philippines had been plucky in standing up to China. But it has paid a price. Now, the goodies that China is dangling look irresistible. Mr Duterte wants lots of infrastructure, particularly railways. China is offering cheap loans. He wants the country to export more. China is offering to reopen its markets to Philippine fruit. He wants help with the war on drugs. A Chinese businessman is building a big rehab centre. And he wants Filipino fishermen to be able to return to their traditional fishing grounds around the Scarborough Shoal. China has told Philippine officials that it is open to an accommodation.

And he wants China to let in Pinoy maids. There are about 154,000 Pinoy maids working in HK legally. It’s illegal for them to work in China but the FT reports that there are about 200,000 working illegally there. And that the Pinoy govt wants to get China to allow them in legally

Obama ate dog, snake and grasshopper

In Indonesia on 15/10/2016 at 6:06 am

Is Obama really Chinese? No, he spent his childhood in Indonesia

When he was six, his mother took him to Indonesia, where she had married a local man. There she began what became her magnum opus: a study of peasant blacksmiths on Java. It was a typical anthropological project, an attempt to understand how another tribe sees the world.

Obama ate dog, snake and grasshopper, learnt Bahasa Indonesian, and got used to children throwing stones at his black skin. Aged 10, he returned to Hawaii, where he was born, to live with his grandparents but he continued visiting his mother in Indonesia. He rarely discusses his Indonesian years, presumably because most US voters don’t like their leaders foreign, but this formative experience as a cultural outsider makes him almost unique among US presidents.

An FT writer

Peenoy president is ignored by Pinoy military

In Uncategorized on 09/10/2016 at 5:18 am

On 4 Oct, UK Guardian wrote Last week, Duterte said the joint US-Philippine combat exercises to be held this week, the first of his presidency, would also be the last of his tenure. The exercises, centering on amphibious landing drills, started Tuesday under some uncertainty because of those remarks.

….

US embassy officials said Washington had not been formally notified by the Philippine government of any move to scrap other planned drills.

Looks the defence ministry and armed forces are ignoring el presidente.

And the US, the FT reports, is juz ignoring his comments and insults watching to see if anything really happens.

And do remember, I reported months ago the Economist predicted an impeachment by the senate. 

Eating more wheat

In Indonesia on 05/10/2016 at 3:59 pm

When I was young, LKY had the “Eat more wheat campaign” to break the rice bowls of the Teochew rice merchants. He didn’t like them momopolising the rice trade with Thailand. He said they were gourging S’poreans.

Well it seems the Indons took his advice to eat more wheat. As for the Peenoys, they as usual imitate ang mohs.

Wheat

 

M’sian Minorities say “YES”, Malay voters say “NO”,

In Malaysia on 03/10/2016 at 4:14 pm
New M’sian Muslim Oppo party spurned by Malay voters. This is what an ISEAS report says
“Will Malaysia’s New Islamist Party Reshape the Political Landscape?” by Hew Wai Weng is now out and downloadable at this link.
 
EXECUTIVE SUMMARY
 

• On 16 September 2015, a group of dissatisfied leaders of Parti Islam SeMalaysia (PAS) left the party to form Parti Amanah Negara (Amanah). This comes in the wake of the demise of the opposition coalition Pakatan Rakyat (PR).

• This new party, along with the recently formed UMNO-splinter party, Parti Pribumi Bersatu Malaysia (Bersatu), can potentially reshape the Malay Muslim political landscape.

• Making common cause with the other parties that had constituted PR, namely the Democratic Action Party (DAP) and Parti KeAdilan Rakyat (KeAdilan), Amanah helped found Pakatan Harapan, effectively replacing PAS in the opposition coalition.

• Quickly put to the test in two simultaneous by-elections in the semi-rural constituencies of Sungai Besar in Selangor and Kuala Kangsar in Perak, Amanah managed to win about two-thirds of Chinese votes but secured less than 10 per cent of the Malay Muslim vote.

• Amanah promotes an inclusive and democratic Islamism and upholds Maqasid Sharia, which focuses on issues such as social justice and good governance. It faces difficult challenges though. The party lacks resources to gain grassroots support and improve its electoral machinery and needs to enhance its Islamic credibility in order to compete with PAS.

• The first-past-the-post electoral system practised in Malaysia also leaves little room for new parties to grow. 

The next row with Indons

In Environment, Indonesia on 21/09/2016 at 4:45 am

Haze is Indonesia’s retaliation for helping Google avoid Indon taxes

Taz the line that the Indon VP or Indon minister will take soon.

Because Google uses S’pore as tax haven to avoid paying Indon taxes, Indons will keep on burning and killing 2,200 S’poreans a year*, a senior Indon official is sure to say. Never mind a lot more Indons are killed by haze.


Btw, expect the cybernuts from The Idiots – S’pore (or TISG) and TRE to start screaming that the PAP govt is allowing S’poreans to die so that Google can make money. And they’ll cheer on Indonesia as they cheered on Pinoy chief gangster for dissing S’pore.

——————————————————————————————————

This is what CNA, part of the constructive, nation-building media reported

Indonesia plans to pursue Alphabet Inc’s Google for five years of back taxes, and the search giant could face a bill of more than US$400 million for 2015 alone if it is found to have avoided payments, a senior tax official said.

Most of the revenue generated in the country is booked at Google’s Asia Pacific headquarters in Singapore. Google Asia Pacific declined to be audited in June, prompting the tax office to escalate the case into a criminal one, Hanif said.

“Google’s argument is that they just did tax planning,” Hanif said. “Tax planning is legal, but aggressive tax planning – to the extent that the country where the revenue is made does not get anything – is not legal.”

The tax office will summon directors from Google Indonesia who also hold positions at Google Asia Pacific, Hanif said, adding that it is working with the Indonesian police.

Already Google  has come under scrutiny from Australian authorities for paying tax in Singapore on advertising revenue generated in Australia, where the corporate tax rate is 30%.

Btw, Indons are saying Nasi Goreng is not a S’porean dish. http://www.bbc.com/news/blogs-trending-37408343


*A study that estimates there were 2,200 premature deaths in Singapore due to the 2015 haze crisis is “not reflective of the actual situation”, the country’s Ministry of Health (MOH) said on Monday (Sep 19). The study by researchers from Harvard and Columbia universities in the US also said there were more than 100,000 premature deaths caused by transboundary haze from Indonesian forest fires. 

CNA

 

 

 

 

 

Failed: Obama’s Asian policy

In China on 15/09/2016 at 5:31 am

On the eve of Obama’s recent trip to Asia, the FT analysed his “Pivot to Asia” policy. It was not a flattering piece.

In the comments these (among money) appeared pouring more scorn on him and his Asian policy.

NCFOM

I hardly believe that anyone of substance will pay much attention to Mr. Obama and his seemingly thoughtful comments knowing fully well that he cannot deliver. Rhetorics like those of Mr. Obama usually falls flat in Asia amidst basic bread and butter issues. When you load polluted air and water into the equation, the place started to resemble cesspool of human existence. It is hardly a place to nod your head in agreement with in appropriate Pbama speech laced with lofty ideas. He never learned that and that’s why most of these leaders would be either resentful being in his company or laughing behind him. This is a tragedy of Greek proportion.

I feel bad for the guy but I cannot offer any sympathy for his gross leadership failure across the board. His ill-preparation and execution of the US presidency will go down as one of the worst. His cowardice is astounding. If I were him I would not speak about any pivot business. I would just attend some social and philanthropic functions.

He has become the ultimate symbol of unfulfilled promise.

Hear, hear.

 Hollow Man 

 
@NCFOM Nicely said! As someone who voted for him in 2008 (but stayed home in 2012) I’ve thought back to what made me do it. I’ve concluded it was just the brazen mendacity of the GWB Administration, nothing more. McCain, then still foaming in the mouth with war lust, was a variant of that.

But of Obama himself, I knew little. I have watched in disbelief as he moved gradually, incrementally, professorially, unimaginatively, unexceptionally, these last eight history-bending years. Even his “lofty”, “soaring” oratory is really cut-rate stuff, just curlicues in the air that dribble away no sooner than they have been uttered. (There isn’t a line from any of his speeches that can compare with the best from FDR, JFK,even  RR.) He has spent all of 2016 polishing his unmemorable legacy. And he leaves the country in a sourer, more mean-spirited mood than at any time I can remember.

Or this may be all I can expect from my adoptive country. I only have to remember the seventeen candidates who stood on the stage in the Republican primary debates…

But Obama poked China in the eye wuth this comment when China failed to give him VVIP treatment.

“We’ve got a lot of planes, a lot of helicopters, a lot of cars and a lot of guys,” he said. “If you are a host country, sometimes it may feel a bit much.”

http://www.economist.com/news/china/21706433-lows-and-highs-worlds-most-important-bilateral-relationship-g20-leaders-meet-china

This is interesting: http://www.bbc.com/news/world-asia-china-37269719

Duterte receives horse’s head

In Uncategorized on 04/09/2016 at 5:01 am

We cropped out the horse head for all the squeamish folks out there. You're welcome.

OK not on his bed but in his home city of  Davao where his daughter is the mayor.

And OK it’s not a horse’s head but 14 dead bodies.

— At least 14 people have been killed in a bomb attack in the home city of Philippine President Rodrigo Duterte. 

Dozens more were wounded in the explosion at a packed market in the southern city of Davao.

A presidential spokesman said investigators had found shrapnel from a mortar-based improvised explosive device (IED) at the scene.

— The Abu Sayyaf militant group was responsible for a bomb attack in the home city of Philippine President Rodrigo Duterte which killed at least 14 people, the government has said.

BBC reports

Well it could easily be narco lords fed-up with him.

Let’s see if he really has balls or is like the film producer in the Godfather.

Indons speaking with fork tongues again

In Environment, Internet on 25/07/2016 at 1:14 pm

Indon VP asking for neighbours’ help in fighting the fires. But he seems to have forgotten that Indon officials have said they don’t need help.

Worse, while complaining that S’pore was trying to punish Indon cos for the fires, it has stopped investigating them

Indonesia’s efforts in tackling forest fires came into question when 15 out of 18 companies suspected of being responsible for the forest fires last year got off the hook with the law.

On Thursday, detik.com reported that the district police in Riau will be stopping investigations on the 15 companies due to the lack of evidence.

“It does not fulfil the elements of intent nor negligence, so we decide to stop investigating the cases,” said Senior Commissioner Rivai Sinambela, Director for Special Criminal Investigation, Riau police district.

Commissioner Rival said that the fires happened on land which have conflicting ownership with the community, and not on areas belonging to the companies.

In 2015, police began investigations on 18 companies suspected of causing forest fires, but only three went to the courts. The three companies PT Langgam Inti Hibrindo, PT Palm Lestari Makmur and PT Wahana Subur Sawit were eventually acquitted.

http://www.channelnewsasia.com/news/asiapacific/indonesia-calls-on/2980490.html

Chinese with Pinoy Muslim blood

In China on 18/07/2016 at 5:13 am

Sulu King Paduka Batara visited China to pay tribute to the emperor in 1417. This was not uncommon for SE Asian rulers of the time. The first sultan of Malacca, a refugee FT from S’pore (He was originally from Sumatra, came here and killed the ruler before fleeing to Malacca), did the same.


Paying tribute in the Chinese tradition was different from that practiced by the Romans and other Westerners. In the West, the weaker side paid up big time.

In the Chinese tradition, tribute was more of an exchange of gifts. While the emperor’s “power” was acknowledged through tribute, in return the emperor gave lavish gifts to show his power. For the Romans and other Westerners, the acceptance of tribute meant that the givers were not going to subject to pillage and plunder. That was the return gift.

Still think Chinese smarter than ang mohs? More civilised certainly.

—————————–

He treated the trip as a holiday, bringing along both his wives.

Paduka died on his way home — in Dezhou City in Shandong province. The emperor gave the king a burial “as formal as for a Chinese king”: no other foreign king were given such an honour. The path to the king’s tomb is marked with the same features as those for Chinese royalty with stone tablets, royal monuments and sculptures. The tomb is preserved as a national historical monument.

Paduka’s two sons – Wenhali and Antulu –remained behind to tend to their father’s tomb. They married Chinese women.

Today, there are descendants of these two Filipino princes in China, with the family names Wen and An. 200 of them live in Dezhou City and close to 4,000 are scattered all over China.

Source: http://www.filipiknow.net/paduka-pahala-ancient-sulu-king-buried-in-china/

Dumb China, Smart US: Real significance of the ruling

In China on 14/07/2016 at 7:46 am

The UN tribunal in The Hague said there was “no legal basis” for China’s claim to most of the South China Sea laid out on maps by the “nine-dash line”.

Uncle Redbean and the other S’porean friends of China (think the nuts from TRELand) are screaming out their lungs at the unfairness of it. One major point of unhappiness is that the US has not ratified the Convention on the Law of the Sea (UNCLOS), so why should China be bound by it, as the US insists China should be? They got a point if “Might is not right” in international affairs.

The technical answer is that China and the Philippines (and the other countries that have disputes in the area with China) signed the convention and are bound by it because they signed it. The US has no dispute with China and is just being its usual kaypoh hegemonic self.

The snarky answer is that China is really dumb, something that its S’porean admirers refuse to even think about (“The sun shines from China’a ass”, as it does from the asses of Roy, s/o JBJ, Mad Dog Chee etc)). Why did it sign UNCLOS in the first place if it thinks it’s a tua kee like the US?

The US refuses to sign UNCLOS because it refuses to play by the rules of sua kes like the UN and PinoyLand. It reserves the right to do what it thinks is right (Usually this means “Might is right”).

But China did sign up and now refuses to abide by a decision of its highest tribunal. Why so stupid?

After the ruling the Chinese said  China respects “freedom of navigation and over flight enjoyed by all states under international law in the South China Sea” and that it stands ready to ensure “unimpeded access to international shipping lanes”.

This is meaningless because “The Chinese effectively say that freedom of navigation is guaranteed [in the South China Sea] because we grant it. Our position is that freedom of navigation is not for you to grant,” said Kurt Campbell, former assistant secretary of state for East Asia. (Extract from FT)

The tribunal ruled that China has no legal basis to grant anything because there was “no legal basis” for China’s claim to most of the South China Sea laid out on maps by the now-famous “nine-dash line”

Btw, the same is true of the air space in the area.

Map showing the South China Sea

It’s a crinimal under international law. And if it plays rough, the US navy is itching to beat up the Chinks. It has two carrier groups in the area.

The US may also seize the US treasury bonds that the Chinese hold if the navies start shooting at each other? Bonds that the chinese bot so that the US could afford to buy the products of Chinese factories.

Ang mohs supposed to be stupid, Chinese subtle. Looks line the exception is when the Chinese are the leaders from PRC.

But the good news for China is that Obama is a certified wimp as Assad proved. He does all he can to make America weak.

Update at 8.00am: http://www.economist.com/blogs/economist-explains/2016/07/economist-explains-12

 

Asean loves Starbucks

In Uncategorized on 12/07/2016 at 2:49 pm

But first fin a fun fact. From NYT Dealbool:

Starbucks Has More Customer Money on Cards Than Many Banks Have in Deposits The coffee giant had $1.2 billion loaded onto Starbucks cards and its mobile app as of the first quarter of 2016.

Duterte will be impeached

In Emerging markets on 09/07/2016 at 4:44 am

Leni Robredo, the Pinoy vice-president, is a member of the Manila elite that Duterte despises and which despises him as it did Estrada.

As the Economist put it a few weeks ago:

His anti-establishment campaign may also hamper him: having run against the political elite, he now must govern with them. In Mr Duterte many see echoes of Mr Estrada, another populist outsider elected on an anti-corruption platform. His presidency lasted just under 18 months: he was impeached for graft, and resigned after the army withdrew its support.

A similar future may lie in store for Mr Duterte.

The article goes on to say

During the campaign some speculated that Mr Aquino’s Liberal Party (LP) machine would throw its support behind Ms Poe once it became clear that Mr Roxas could never win. Instead party grandees are rumoured to prefer impeachment, particularly if the LP candidate, Leni Robredo, wins the vice-presidency, and would become president on Mr Duterte’s departure. As The Economistwent to press she had a narrow lead.

http://www.economist.com/news/briefing/21698684-new-strongman-president-may-prevent-philippines-becoming-economic-star-fist

So what will Duterte do when he’s impeached? Just call the impeachers names? Or call out the murder squads?

Whatever, PinoyLand is not a good place to invest in.

S’pore, Asean on risky list

In Hong Kong, Indonesia, Malaysia on 06/07/2016 at 1:54 pm

Indonesia and PinoyLand head the list, HK is a pretty safe place.

CrossBorder Capital said its Emerging Markets Risk Index fell sharply in May and is now at its lowest level since 2012, having peaked in early 2015.

This measure is based on three components: financing risk, which measures the ability of EM entities to roll over their debt; forex risk, driven by the quality of liquidity in a country and how dependent it is on central bank money; and exposure risk, which flashes a warning sign if a high proportion of investment in a country is in risk assets such as equities and corporate debt, rather than lower-risk government bonds and cash.

FT

Pinoy president is either wacko or a great mind

In Uncategorized on 25/06/2016 at 5:57 am

“A foolish consistency is the hobgoblin of feeble minds”

Henry David Thoreau

Do I contradict myself? Very well, then I contradict myself, I am large, I contain multitudes.
Read more at: http://www.brainyquote.com/quotes/quotes/w/waltwhitma132584.html

Duterte … draws support from the Philippine left wing and has close ties with the founder of the Communist Party of the Philippines (CPP) Jose Sison, under whose leadership the CPP waged a Maoist-influenced guerrilla insurgency and who has been in exile in the Netherlands since 1987. Duterte has welcomed Sison’s plans to return home. Although government negotiations with the CPP since 2011 are currently at an impasse, Duterte is more likely to reach an agreement with the CPP and its armed wing, the New People’s Army (NPA)

….

Former President Fidel Ramos, who served from 1992 to 1998, was an early supporter of Duterte and has been influential in pushing pragmatic policy choices. Ramos’ influence is positive as his tenure was marked by an economic transformation in the Philippines as well as a significant outreach to the NPA and Muslim rebel movements. Ramos appointees now holding Cabinet posts include peace process adviser Jesus Dureza, who held this post under Ramos.

http://www.rsis.edu.sg/wp-content/uploads/2016/06/CO16145.pdf?utm_source=getresponse&utm_medium=email&utm_campaign=rsis_publications&utm_content=RSIS+Commentary+145%2F2016+President+Duterte%3A+A+Different+Philippine+Leader+by+Barry+Desker+

Duterte’s priorities are domestic. Law and order, anti-corruption and crushing the drug problem are at the top of his agenda.

Fall of BSI and Goldie rainmaker: From heroes to zeroes

In Banks, Malaysia on 14/06/2016 at 1:17 pm

How a 143-Year-Old Swiss Bank Took a Quick Road to Ruin in Asia When a rainmaker left RBS Coutts with 70 colleagues for BSI, a small Swiss bank looking to get big in a hurry, it set off a chain of events that thrust the bank into the center of the financial scandal involving 1MDB.

NYT Dealbook

And here’s how a Goldman Sacks partner, whose wife called Rosmah Najib (FLOM or self-styled First Lady of M’sia) a friend, became a zero

http://www.bloomberg.com/news/articles/2016-03-30/the-rise-and-fall-of-tim-leissner-goldman-s-big-man-in-malaysia

Markets: Frontier, Emerging

In Emerging markets on 27/05/2016 at 3:49 pm

Chart: Pakistan price earnings

Reasonable to mistrust Pinoys?

In Uncategorized on 14/05/2016 at 5:22 am

After S’pore said that a Facebook post showing Lee Hsien Loong appearing to endorse Mr Duterte was false, he talked about burning a S’porean flag.

Still 77% of the Pinoys working here voted for him.

So many hate us meh? Despite many stealing S’poreans’ breakfast, lunch, dinner, supper and in-between snacks.

Seriously, can we trust the Pinoys whenever they say anything nice about us?

The Pinoys say they adore Pope Francis and the late Corazon Aquino.

Yet Rodrigo “Digong” Duterte said, “Pope, son of a whore, go home. Do not visit us again.”. And in a row with the outgoing president, son of Corazon, he called the president, “son of a prostitute”.

Yet 39% of Pinpys voted for him (an overwhelming number, given there were five presidential candidates).

Reasonable to mistrust Pinoys? Be wary of them? Cut immigration of Pinoys here?

What do you think?

Pinoys are Asians not transplanted Latins

In Uncategorized on 07/05/2016 at 6:02 am

Chart: Asia and Latin America gross savings as part of GDP

Pinoys hoping not to have to work overses.

http://www.bbc.com/news/business-36206608

OCBC pays price for biz model

In Banks on 03/05/2016 at 10:16 am

While

United Overseas Bank (UOB) posted a 4.4 per cent fall in first-quarter net profit, as lower wealth management fees and trading income more than offset higher net interest income. (CNA)

OCBC had a 14 per cent decline in quarterly net profit. Unlike UOB and DBS it has adopted a bankassurance model which depends on income from its life insurance division.

Oversea-Chinese Banking Corp (OCBC), Singapore’s second-biggest lender, announced on Friday (Apr 29) a 14 per cent decline in quarterly net profit, as its insurance income dipped and allowances rose.

For the three months ended March, net profit was S$856 million, down from S$993 million a year ago.

Profit from its life assurance unit plummeted 58 per cent, a fall of S$116 million, largely due to unrealised mark-to-market losses from subsidiary Great Eastern Holdings’ bond and equity investment portfolio, the bank said.

Wealth management income, comprising income from insurance, private banking, asset management, stockbroking and other wealth management products, was down 17 per cent to S$482 million, from S$583 million a year ago. (CNA)

DBS’s results should be a lot closer to UOB’s than OCBC’s, unless there’s something really nasty at DBS’s Indonesian business.

 

Avoid this Asean airport

In Airlines, Tourism on 23/04/2016 at 6:05 am

Part of the ceiling at a terminal at Ninoy Aquino collapsed on passengers earlier this year, while just this month thousands of travellers were stranded and left in the dark for hours due to a blackout. The government has said that Manila will have to wait two decades for a new airport, which may be part funded by Japan’s aid agency.

FT