LETTER Yet another 'new' year greets the world as we welcome 2011. Certainly, it is also the most opportune time for Malaysians irrespective of social status, political ranking and economic class to reflect and agree to a road map for the full course-run of 2011.The very fact that Malaysians are today divided not only along racial and religious divides, but along political, economic and social parameters is enough to spell disaster of mega proportions if left unchecked.Forget about the years that followed the last General Elections. Just take the year that precedes 2011. It is sufficient to attest that the nation has been fighting too many battles along social, political and economic barriers that have been wearing thin the very capital that can carve out progress for any nation.The power to navigate an ailing country is in the hands of all citizens - leaders and followers; king and subjects. Truly, the able power begins with leaders and king to harness the followers and subjects along a winding road of 2011 that remains unpredictable given the losing battles in 2010.But if our leaders and power brokers continue their rampage and warring divisiveness, we all have nothing to gain and everything to lose. This is not preaching. It is a fact that the folly of man is not his crippling thoughts but more so his dubious heart.Perhaps the leaders of all political parties must first convene together for a National Congress for Peace and Progress.Putting aside their ideological differences they should work hard in unison and state how they can through their differences contribute to a winning formula for a National Best performance. This is relevant given the long feuds that have been dragging on in the politicians' efforts to grab power or to remain in power employing all sorts of questionable short cuts and short circuits. It is also relevant given the seemingly bulldozing of 1Malaysia by the ruling political party.If we were to read the book 'Can Asians Think?' by Kishore Mahbubani (2002), we can agree that the battle to weed out corruption will always remain an illusive commitment. But that should not stop us from taking the courageous steps to attempt to war against this national folly.To begin with, dedicate 2011 to a National Clean Up campaign. Set up independent booths nation wide to receive complaints and allegations of corruption. These booths can be run by non-political entities like NGOs and religious communities and the Interfaith organisations.Ensure that media space is available to publish all such complaints. And through an independent legal body ensure steps are in place to take appropriate action on such complaints. If need be, have international bodies and or men and women of distinction from the global citizenry to be the watchdog.As a start to gain the confidence of the rakyat, all ministers and politicians should have their assets declared in Parliament and captured in the Hansard.If we are able to move in this direction, we would have set the infrastructure well in place for a fully democratic process that will guarantee a gentleman's General Election.Otherwise, we might as well continue down the road and suffer a head-on collision that will surely send the entire nation into a long ICU and sadly end up in coma. We have seen these in the region. We have read all these in History.So, leaders what can you do for 2011?Followers, if you agree to a good start for 2011, then stand up and make your demand if leaders fail.Wishing Malaysia a National Best New Year.
LETTER Yet another 'new' year greets the world as we welcome 2011. Certainly, it is also the most opportune time for Malaysians irrespective of social status, political ranking and economic class to reflect and agree to a road map for the full course-run of 2011.
The very fact that Malaysians are today divided not only along racial and religious divides, but along political, economic and social parameters is enough to spell disaster of mega proportions if left unchecked.
Forget about the years that followed the last General Elections. Just take the year that precedes 2011. It is sufficient to attest that the nation has been fighting too many battles along social, political and economic barriers that have been wearing thin the very capital that can carve out progress for any nation.
The power to navigate an ailing country is in the hands of all citizens - leaders and followers; king and subjects. Truly, the able power begins with leaders and king to harness the followers and subjects along a winding road of 2011 that remains unpredictable given the losing battles in 2010.
But if our leaders and power brokers continue their rampage and warring divisiveness, we all have nothing to gain and everything to lose. This is not preaching. It is a fact that the folly of man is not his crippling thoughts but more so his dubious heart.
Perhaps the leaders of all political parties must first convene together for a National Congress for Peace and Progress.
Putting aside their ideological differences they should work hard in unison and state how they can through their differences contribute to a winning formula for a National Best performance. This is relevant given the long feuds that have been dragging on in the politicians' efforts to grab power or to remain in power employing all sorts of questionable short cuts and short circuits. It is also relevant given the seemingly bulldozing of 1Malaysia by the ruling political party.
If we were to read the book 'Can Asians Think?' by Kishore Mahbubani (2002), we can agree that the battle to weed out corruption will always remain an illusive commitment. But that should not stop us from taking the courageous steps to attempt to war against this national folly.
To begin with, dedicate 2011 to a National Clean Up campaign. Set up independent booths nation wide to receive complaints and allegations of corruption. These booths can be run by non-political entities like NGOs and religious communities and the Interfaith organisations.
Ensure that media space is available to publish all such complaints. And through an independent legal body ensure steps are in place to take appropriate action on such complaints. If need be, have international bodies and or men and women of distinction from the global citizenry to be the watchdog.
As a start to gain the confidence of the rakyat, all ministers and politicians should have their assets declared in Parliament and captured in the Hansard.
If we are able to move in this direction, we would have set the infrastructure well in place for a fully democratic process that will guarantee a gentleman's General Election.
Otherwise, we might as well continue down the road and suffer a head-on collision that will surely send the entire nation into a long ICU and sadly end up in coma. We have seen these in the region. We have read all these in History.
So, leaders what can you do for 2011?
Followers, if you agree to a good start for 2011, then stand up and make your demand if leaders fail.
Wishing Malaysia a National Best New Year.
IF MALAYSIANS WONDER WHY PRIME MINISTER NAJIB RAZAK IS UNABLE TO CONTROL HIS HAND-PICKED EDITORS AT THE UMNO-OWNED UTUSAN NEWSPAPER, THE REASON IS BECAUSE THE RACISM AND MALAY SUPREMACY THE DAILY SPOUTS IS INTENTIONAL AND HAS HIS FULL ENDORSEMENT.AT A RECENT SEMINAR HELD FOR CIVIL SERVANTS IN PUTRAJAYA ATTENDED BY NAJIB’S LONG-TIME POLITICAL SECRETARY SHAHLAN ISMAIL, A BOOK AUTHORED BY SERI SETIA ASSEMBLYMAN NIK NAZMI NIK AHMAD ENTITLED MENDEPANI ZAMANWAS SEVERELY CRITICIZED AS BEING "DISLOYAL TO THE MALAY CAUSE".ACCORDING TO PROF RAMLAH ADAM OF UITM, WHO WAS THE GUEST SPEAKER, THE PREMISE OF THE BOOK WHICH CALLS ON MALAYS TO BE COURAGEOUS AND FORWARD-LOOKING WAS WRONG. SHE TOLD THE SEMINAR THAT THE MALAYS WERE NOT SAFE UNDER THE SOCIAL CONTRACT BUT UNDER CONSTANT THREAT OF BEING 'TOPPLED' BY THE CHINESE AND THE INDIANS.“HER MAIN POINT WAS THAT THE BOOK IS THE RESULT OF A LIBERAL THINKING MALAY WHO DOES NOT APPRECIATE HIS OWN RACE'S HISTORY AND STRUGGLE. SHE WASN'T REALLY ATTACKING HIS POLITICAL AFFILIATION BUT MORE ON THE MESSAGES THE BOOK CARRIED. SHE CONSIDERED NIK NAZMI AS ONE OF THE SUCCESSFUL MALAYS WHO HAVE FORGOTTEN THEIR ROOTS AND HOW THE REST OF THE RACE IS STILL STRUGGLING AND POOR,” AN ATTENDEE OF THE COURSE TOLD MALAYSIA CHRONICLE.“MANY OF US WERE STUNNED BECAUSE SHE SPOKE RIGHT AFTER NAJIB’S RIGHT-HAND MAN TALKED ABOUT 1 MALAYSIA IN HIS OPENING SPEECH. AND THE UNDERTONE OF RACISM WAS OBVIOUS EVEN IN THE 1MALAYSIA SEGMENT. FOR RAMLAH, HER MAIN GRUDGE WAS THAT MALAYS STILL NEEDED THE ‘TONGKAT’OR CRUTCHES BUT THE CHINESE AND THE INDIANS ARE FIGHTING THEM EVEN THOUGH THEY, AND HERE IT WAS OBVIOUS 'THEY' MEANT UMNO, HAS BEEN KIND AND FAIR TO ALL THE RACES SINCE INDEPENDENCE.”NO EXPLANATION ASKED, NO OPPORTUNITY OF DEFENSE OFFEREDA PROGRAM OF THE EVENT HELD IN LATE JULY (SCROLL BELOW) SHOWED RAMLAH WAS GIVEN A 1 ½ -HOUR SLOT TO SPEAK ON THE BOOK MOVING FORWARD: MALAYS FOR THE 21ST CENTURY , WHILE SHAHLAN PRECEDED HER WITH A SPEECH ON 1MALAYSIA, PEOPLE FIRST, PERFORMANCE NOW.
MEANWHILE, NIK NAZMI (PIC) TOLD MALAYSIA CHRONICLE HE WAS NOT SURPRISED BY THE HYPOCRISY DISPLAYED BY THE NAJIB ADMINISTRATION.“AS THE BOOK’S AUTHOR, I WAS NEVER OFFERED THE CHANCE TO EXPLAIN OR TO DEFEND MY WRITING. YET THE NAJIB ADMINISTRATION IS TARRING ME AS ANTI-MALAY AND PRO NON-MALAY. I UNDERSTAND THIS IS COMMON PRACTICE IN PUTRAJAYA – THEY DON’T EVEN HAVE THE COURTESY TO INVITE THE AUTHOR TO LISTEN TO THE DISCUSSION,” NIK NAZMI, WHO IS ALSO THE PKR COMMUNICATIONS DIRECTOR, TOLDMALAYSIA CHRONICLE.IN HER DISCOURSE, PROF RAMLAH SUGGESTED THAT THE NON-MALAYS WERE SELFISH FOR OBJECTING TO ECONOMIC HANDICAPS THE UMNO GOVERNMENT INSISTS IT HAS BUILT UP FOR THE MALAYS IN THE NEW ECONOMIC POLICY. HOWEVER, MANY FINANCIAL EXPERTS AND OPPOSITIONS LEADERS HAVE REFUTED THE UMNO CLAIM, POINTING OUT THAT OUT OF THE RM54 BILLION IN EQUITY GRANTED TO THE MALAY COMMUNITY SINCE 1957, ONLY RM2 BILLION REMAINED IN THEIR HANDS, WITH THE BULK OF THE ASSETS SOLD AND THE FUNDS SIPHONED OUT BY THE UMNO ELITE THROUGH OVER-PRICED AND FAILED MEGA-PROJECTS.“MALAY SUPREMACY IS A SLOGAN USED BY A SMALL GROUP OF MALAY ELITES WHO ARE CHEATING THE MALAYS AS A WHOLE FOR THEIR OWN INTERESTS. AFTER 53 YEARS IN POWER, THE MALAYS AND BUMIPUTERA ARE STILL NEGLECTED. THE 30 PERCENT MALAY-BUMIPUTERA EQUITY HAS YET TO BE MET. OF THE RM54 BILLION EQUITY AND SHARES FOR BUMIPUTERA, ONLY RM2 BILLION STILL BELONG TO THEM,” PKR PRESIDENT WAN AZIZAH (PIC, BELOW) REVEALED IN NOVEMBER.OPPOSITION LEADER ANWAR IBRAHIM HAS ALSO FURNISHED EVIDENCE THAT 96 PERCENT OF THE POOR PEOPLE IN MALAYSIA WERE MALAYS DESPITE THE UMNO CLAIMS THAT IT WAS DUE TO ITS PRO-MALAY POLICIES THAT THE COMMUNITY HAD PROSPERED.1MALAYSIA NOT TO UNIFY BUT TO KEEP THE RACES DIVIDEDPROF RAMLAH ALSO QUESTIONED WHY THE MCA-CONTROLLED TAR COLLEGE WAS STILL ALLOWED TO EXIST NOW THAT THE GOVERNMENT HAS ALLOWED THE ESTABLISHMENT OF UNIVERSITY TAR OR UTAR. SHE POINTED OUT THAT WHEN MALAY COLLEGE ITM BECAME A UNIVERSITY OR UITM, THE COLLEGE WAS DISSOLVED.HER ULTRA-MALAY
STANCE SUBSTANTIATED ARGUMENTS THAT 1 MALAYSIA WAS A POLITICAL TOOL AIMED TO CREATE A FALSE SENSE OF INCLUSIVENESS AND POWER SHARING IN THE UMNO-DOMINATED BARISAN NASIONAL COALITION. ONLY THE PACKAGING WAS NEW BUT THE ULTIMATE AIM OF 1MALAYSIA WAS STILL TO ENSURE THAT UMNO RETAINED POLITICAL POWER AT ALL COSTS INCLUDING IN NAJIB'S OWN WORDS "CRUSHED BODIES", "LOST LIVES" AND "ETHNIC CLEANSING".“WE HAVE ALWAYS WARNED THAT 1MALAYSIA WAS A POLITICAL SLOGAN AND A SUBVERSIVE ONE THAT WE BELIEVED WAS DESIGNED BY ZIONIST PROPAGANDA EXPERTS IN APCO. 1 MALAYSIA SAYS ONE THING TO ONE RACE – IT IS MULTI-RACIAL AND INCLUSIVE WHEN THE AUDIENCE IS CHINESE OR INDIAN OR KADAZAN-DUSUN-MURUT. BUT WHEN IT TALKS TO THE MALAYS – THEN IT BECOMES LIKE PERKASA AND UTUSAN AND THIS IS WHY AFTER 2 YEARS, 1 MALAYSIA IS STILL NOT CREDIBLE BECAUSE PEOPLE CAN SEE IT IS JUST A FALSE FRONT,” GOPENG MP LEE BOON CHYE TOLDMALAYSIA CHRONICLE.“AND THE BLAME FOR PULLING WOOL OVER THE PEOPLE’S EYES SHOULD NOT BE LIMITED TO UMNO, BUT EXTEND TO MCA, GERAKAN AND THE OTHER BN COMPONENTS. THEY ARE CALLING ON THE PEOPLE TO ACCEPT A SLOGAN THAT PRETENDS TO BE UNIFYING BUT ACTUALLY PROMOTES MALAY SUPREMACY AND RELIGIOUS BIGOTRY. HOW CAN WE EVER CLOSE THE RACIAL DIVIDE IN MALAYSIA OR PERHAPS THAT IS REALLY THE ULTIMATE GOAL OF UMNO AND APCO - TO KEEP THE RACES PERPETUALLY DIVIDED BY PROMULGATING MALAY SUPREMACY JUST LIKE PAULINE HASNSON'S ONEAUSTRALIA.”EVEN AT CHRISTMASBOON CHYE MAY HAVE HIT BULLS-EYE. AT A CHRISTMAS TEA-PARTY AT ARCHBISHOP MURPHY PAKIAM'S(PIC) RESIDENCE, NAJIB PUT UP A SHOW OF RELIGIOUS PLURALISM BY VISITING A CHIRISTIAN CELEBRATION. HOWEVER, NEWS SOON LEAKED THAT CHURCH OFFICIALS HAD BEEN ASKED TO REMOVE ALL SIGNS OF CHRISTIAN SYSMBOLS SUCH AS CROSSES, CRUCIFIXES AND STOP PERFORMING ANY PRAYERS DURING NAJIB’S VISIT.
AGAIN THE BLAME WAS PUT ON NAJIB’S OVERZEALOUS OFFICIALS. EVEN IN THE NON-STOP UTUSAN TIRADES AGAINST THE NON-MALAYS, THE RACIAL HATRED IT SPEWS IS BLAMED ON STUBBORN EDITORS OVER WHOM NAJIB APPARENTLY HAS "NO CONTROL". THE LATEST ATTACK IS AGAINST SERDANG MP TEOH NIE CHING FOR WEARING 'TIGHT-CLOTHES' TO AN AEROBICS SESSION CONDUCTED AT A MOSQUE COMPOUND.PLAYING GOOD GUY IN UTUSAN IS A VETERAN BUT JUNIOR-RANKING JOURNALIST, HATA WAHARI. IN HIS CAPACITY AS PRESIDENT OF THE NATIONAL UNION OF JOURNALISTS, HATA HAS NOT HESITATED TO TRASH HIS OWN BOSSES. SO FAR, HE HAS ESCAPED THE SACK DESPITE SEVERAL STRIDENT ATTACKS AGAINST HIS DAILY'S RACIST EDITORIAL STANCE.“THIS IS THE CLASSIC EXAMPLE OF MIND GAMES AND SUBVERSIVE PROPAGANDA. SAY ONE THING TO ONE RACE AND ANOTHER TO ANOTHER RACE. PLAY BAD GUY AND THEN PLAY GOOD GUY. BUT WHAT IS THE REAL TRUTH?” PKR VICE PRESIDENT TIAN CHUA TOLD MALAYSIA CHRONICLE.“FINDING OUT IS ACTUALLY NOT DIFFICULT. MALAYSIANS JUST NEED TO ASK THEMSELVES THESE QUESTIONS. IS IT POSSIBLE FOR A PRIME MINISTER NOT TO BE ABLE TO CONTROL HIS AIDES, LIKE IN THE CHRISTMAS TEA-PARTY INCIDENT? IS IT POSSIBLE FOR AN UMNO PRESIDENT NOT TO BE ABLE TO REIN IN HIS TOP EDITORS AT UTUSAN WHEN A LOWER-RANKING JOURNALIST CAN SLAM THEM LEFT AND RIGHT? AT THE END OF THE DAY, WHAT IS CLEAR IS THAT 1 MALAYSIA HAS MULTI AND CONFLICTING MESSAGES. DOES ANY ONE OF US HAVE ANY DOUBT THAT THE UNDERLYING AND MAIN ONE WILL ALWAYS BE THE UMNO MESSAGE OF RACIAL SUPREMACY AND RELIGIOUS BIGOTRY FOR THE PURPOSE OF POLITICAL HEGEMONY?"
IF MALAYSIANS WONDER WHY PRIME MINISTER NAJIB RAZAK IS UNABLE TO CONTROL HIS HAND-PICKED EDITORS AT THE UMNO-OWNED UTUSAN NEWSPAPER, THE REASON IS BECAUSE THE RACISM AND MALAY SUPREMACY THE DAILY SPOUTS IS INTENTIONAL AND HAS HIS FULL ENDORSEMENT.
AT A RECENT SEMINAR HELD FOR CIVIL SERVANTS IN PUTRAJAYA ATTENDED BY NAJIB’S LONG-TIME POLITICAL SECRETARY SHAHLAN ISMAIL, A BOOK AUTHORED BY SERI SETIA ASSEMBLYMAN NIK NAZMI NIK AHMAD ENTITLED MENDEPANI ZAMANWAS SEVERELY CRITICIZED AS BEING "DISLOYAL TO THE MALAY CAUSE".
ACCORDING TO PROF RAMLAH ADAM OF UITM, WHO WAS THE GUEST SPEAKER, THE PREMISE OF THE BOOK WHICH CALLS ON MALAYS TO BE COURAGEOUS AND FORWARD-LOOKING WAS WRONG. SHE TOLD THE SEMINAR THAT THE MALAYS WERE NOT SAFE UNDER THE SOCIAL CONTRACT BUT UNDER CONSTANT THREAT OF BEING 'TOPPLED' BY THE CHINESE AND THE INDIANS.
“HER MAIN POINT WAS THAT THE BOOK IS THE RESULT OF A LIBERAL THINKING MALAY WHO DOES NOT APPRECIATE HIS OWN RACE'S HISTORY AND STRUGGLE. SHE WASN'T REALLY ATTACKING HIS POLITICAL AFFILIATION BUT MORE ON THE MESSAGES THE BOOK CARRIED. SHE CONSIDERED NIK NAZMI AS ONE OF THE SUCCESSFUL MALAYS WHO HAVE FORGOTTEN THEIR ROOTS AND HOW THE REST OF THE RACE IS STILL STRUGGLING AND POOR,” AN ATTENDEE OF THE COURSE TOLD MALAYSIA CHRONICLE.
“MANY OF US WERE STUNNED BECAUSE SHE SPOKE RIGHT AFTER NAJIB’S RIGHT-HAND MAN TALKED ABOUT 1 MALAYSIA IN HIS OPENING SPEECH. AND THE UNDERTONE OF RACISM WAS OBVIOUS EVEN IN THE 1MALAYSIA SEGMENT. FOR RAMLAH, HER MAIN GRUDGE WAS THAT MALAYS STILL NEEDED THE ‘TONGKAT’OR CRUTCHES BUT THE CHINESE AND THE INDIANS ARE FIGHTING THEM EVEN THOUGH THEY, AND HERE IT WAS OBVIOUS 'THEY' MEANT UMNO, HAS BEEN KIND AND FAIR TO ALL THE RACES SINCE INDEPENDENCE.”
NO EXPLANATION ASKED, NO OPPORTUNITY OF DEFENSE OFFERED
A PROGRAM OF THE EVENT HELD IN LATE JULY (SCROLL BELOW) SHOWED RAMLAH WAS GIVEN A 1 ½ -HOUR SLOT TO SPEAK ON THE BOOK MOVING FORWARD: MALAYS FOR THE 21ST CENTURY , WHILE SHAHLAN PRECEDED HER WITH A SPEECH ON 1MALAYSIA, PEOPLE FIRST, PERFORMANCE NOW.
MEANWHILE, NIK NAZMI (PIC) TOLD MALAYSIA CHRONICLE HE WAS NOT SURPRISED BY THE HYPOCRISY DISPLAYED BY THE NAJIB ADMINISTRATION.“AS THE BOOK’S AUTHOR, I WAS NEVER OFFERED THE CHANCE TO EXPLAIN OR TO DEFEND MY WRITING. YET THE NAJIB ADMINISTRATION IS TARRING ME AS ANTI-MALAY AND PRO NON-MALAY. I UNDERSTAND THIS IS COMMON PRACTICE IN PUTRAJAYA – THEY DON’T EVEN HAVE THE COURTESY TO INVITE THE AUTHOR TO LISTEN TO THE DISCUSSION,” NIK NAZMI, WHO IS ALSO THE PKR COMMUNICATIONS DIRECTOR, TOLDMALAYSIA CHRONICLE.
IN HER DISCOURSE, PROF RAMLAH SUGGESTED THAT THE NON-MALAYS WERE SELFISH FOR OBJECTING TO ECONOMIC HANDICAPS THE UMNO GOVERNMENT INSISTS IT HAS BUILT UP FOR THE MALAYS IN THE NEW ECONOMIC POLICY. HOWEVER, MANY FINANCIAL EXPERTS AND OPPOSITIONS LEADERS HAVE REFUTED THE UMNO CLAIM, POINTING OUT THAT OUT OF THE RM54 BILLION IN EQUITY GRANTED TO THE MALAY COMMUNITY SINCE 1957, ONLY RM2 BILLION REMAINED IN THEIR HANDS, WITH THE BULK OF THE ASSETS SOLD AND THE FUNDS SIPHONED OUT BY THE UMNO ELITE THROUGH OVER-PRICED AND FAILED MEGA-PROJECTS.
“MALAY SUPREMACY IS A SLOGAN USED BY A SMALL GROUP OF MALAY ELITES WHO ARE CHEATING THE MALAYS AS A WHOLE FOR THEIR OWN INTERESTS. AFTER 53 YEARS IN POWER, THE MALAYS AND BUMIPUTERA ARE STILL NEGLECTED. THE 30 PERCENT MALAY-BUMIPUTERA EQUITY HAS YET TO BE MET. OF THE RM54 BILLION EQUITY AND SHARES FOR BUMIPUTERA, ONLY RM2 BILLION STILL BELONG TO THEM,” PKR PRESIDENT WAN AZIZAH (PIC, BELOW) REVEALED IN NOVEMBER.
OPPOSITION LEADER ANWAR IBRAHIM HAS ALSO FURNISHED EVIDENCE THAT 96 PERCENT OF THE POOR PEOPLE IN MALAYSIA WERE MALAYS DESPITE THE UMNO CLAIMS THAT IT WAS DUE TO ITS PRO-MALAY POLICIES THAT THE COMMUNITY HAD PROSPERED.
1MALAYSIA NOT TO UNIFY BUT TO KEEP THE RACES DIVIDED
PROF RAMLAH ALSO QUESTIONED WHY THE MCA-CONTROLLED TAR COLLEGE WAS STILL ALLOWED TO EXIST NOW THAT THE GOVERNMENT HAS ALLOWED THE ESTABLISHMENT OF UNIVERSITY TAR OR UTAR. SHE POINTED OUT THAT WHEN MALAY COLLEGE ITM BECAME A UNIVERSITY OR UITM, THE COLLEGE WAS DISSOLVED.
HER ULTRA-MALAY STANCE SUBSTANTIATED ARGUMENTS THAT 1 MALAYSIA WAS A POLITICAL TOOL AIMED TO CREATE A FALSE SENSE OF INCLUSIVENESS AND POWER SHARING IN THE UMNO-DOMINATED BARISAN NASIONAL COALITION. ONLY THE PACKAGING WAS NEW BUT THE ULTIMATE AIM OF 1MALAYSIA WAS STILL TO ENSURE THAT UMNO RETAINED POLITICAL POWER AT ALL COSTS INCLUDING IN NAJIB'S OWN WORDS "CRUSHED BODIES", "LOST LIVES" AND "ETHNIC CLEANSING".
STANCE SUBSTANTIATED ARGUMENTS THAT 1 MALAYSIA WAS A POLITICAL TOOL AIMED TO CREATE A FALSE SENSE OF INCLUSIVENESS AND POWER SHARING IN THE UMNO-DOMINATED BARISAN NASIONAL COALITION. ONLY THE PACKAGING WAS NEW BUT THE ULTIMATE AIM OF 1MALAYSIA WAS STILL TO ENSURE THAT UMNO RETAINED POLITICAL POWER AT ALL COSTS INCLUDING IN NAJIB'S OWN WORDS "CRUSHED BODIES", "LOST LIVES" AND "ETHNIC CLEANSING".“WE HAVE ALWAYS WARNED THAT 1MALAYSIA WAS A POLITICAL SLOGAN AND A SUBVERSIVE ONE THAT WE BELIEVED WAS DESIGNED BY ZIONIST PROPAGANDA EXPERTS IN APCO. 1 MALAYSIA SAYS ONE THING TO ONE RACE – IT IS MULTI-RACIAL AND INCLUSIVE WHEN THE AUDIENCE IS CHINESE OR INDIAN OR KADAZAN-DUSUN-MURUT. BUT WHEN IT TALKS TO THE MALAYS – THEN IT BECOMES LIKE PERKASA AND UTUSAN AND THIS IS WHY AFTER 2 YEARS, 1 MALAYSIA IS STILL NOT CREDIBLE BECAUSE PEOPLE CAN SEE IT IS JUST A FALSE FRONT,” GOPENG MP LEE BOON CHYE TOLDMALAYSIA CHRONICLE.
“AND THE BLAME FOR PULLING WOOL OVER THE PEOPLE’S EYES SHOULD NOT BE LIMITED TO UMNO, BUT EXTEND TO MCA, GERAKAN AND THE OTHER BN COMPONENTS. THEY ARE CALLING ON THE PEOPLE TO ACCEPT A SLOGAN THAT PRETENDS TO BE UNIFYING BUT ACTUALLY PROMOTES MALAY SUPREMACY AND RELIGIOUS BIGOTRY. HOW CAN WE EVER CLOSE THE RACIAL DIVIDE IN MALAYSIA OR PERHAPS THAT IS REALLY THE ULTIMATE GOAL OF UMNO AND APCO - TO KEEP THE RACES PERPETUALLY DIVIDED BY PROMULGATING MALAY SUPREMACY JUST LIKE PAULINE HASNSON'S ONEAUSTRALIA.”
EVEN AT CHRISTMAS
BOON CHYE MAY HAVE HIT BULLS-EYE. AT A CHRISTMAS TEA-PARTY AT ARCHBISHOP MURPHY PAKIAM'S(PIC) RESIDENCE, NAJIB PUT UP A SHOW OF RELIGIOUS PLURALISM BY VISITING A CHIRISTIAN CELEBRATION. HOWEVER, NEWS SOON LEAKED THAT CHURCH OFFICIALS HAD BEEN ASKED TO REMOVE ALL SIGNS OF CHRISTIAN SYSMBOLS SUCH AS CROSSES, CRUCIFIXES AND STOP PERFORMING ANY PRAYERS DURING NAJIB’S VISIT.
PLAYING GOOD GUY IN UTUSAN IS A VETERAN BUT JUNIOR-RANKING JOURNALIST, HATA WAHARI. IN HIS CAPACITY AS PRESIDENT OF THE NATIONAL UNION OF JOURNALISTS, HATA HAS NOT HESITATED TO TRASH HIS OWN BOSSES. SO FAR, HE HAS ESCAPED THE SACK DESPITE SEVERAL STRIDENT ATTACKS AGAINST HIS DAILY'S RACIST EDITORIAL STANCE.
“THIS IS THE CLASSIC EXAMPLE OF MIND GAMES AND SUBVERSIVE PROPAGANDA. SAY ONE THING TO ONE RACE AND ANOTHER TO ANOTHER RACE. PLAY BAD GUY AND THEN PLAY GOOD GUY. BUT WHAT IS THE REAL TRUTH?” PKR VICE PRESIDENT TIAN CHUA TOLD MALAYSIA CHRONICLE.
“FINDING OUT IS ACTUALLY NOT DIFFICULT. MALAYSIANS JUST NEED TO ASK THEMSELVES THESE QUESTIONS. IS IT POSSIBLE FOR A PRIME MINISTER NOT TO BE ABLE TO CONTROL HIS AIDES, LIKE IN THE CHRISTMAS TEA-PARTY INCIDENT? IS IT POSSIBLE FOR AN UMNO PRESIDENT NOT TO BE ABLE TO REIN IN HIS TOP EDITORS AT UTUSAN WHEN A LOWER-RANKING JOURNALIST CAN SLAM THEM LEFT AND RIGHT? AT THE END OF THE DAY, WHAT IS CLEAR IS THAT 1 MALAYSIA HAS MULTI AND CONFLICTING MESSAGES. DOES ANY ONE OF US HAVE ANY DOUBT THAT THE UNDERLYING AND MAIN ONE WILL ALWAYS BE THE UMNO MESSAGE OF RACIAL SUPREMACY AND RELIGIOUS BIGOTRY FOR THE PURPOSE OF POLITICAL HEGEMONY?"
By Ajay Chandras Astrologer
Greed, graft, politics, bribery, dirty money. Just another day in the life of a nation still rated among the most corrupt in the world. Scan the scams that have grabbed headlines, destroyed reputations and left many people poorer.Jeep Purchase (1948)– Free India's corruption graph begins. V. K. Krishna Menon, then the Indian high commissioner to Britain, bypassed protocol to sign a deal worth Rs 80 lakh with a foreign firm for the purchase of army jeeps. The case was closed in 1955 and soon after Menon joined the Nehru cabinet.
Cycle Imports (1951) – S.A. Venkataraman, then the secretary, ministry of commerce and industry, was jailed for accepting a bribe in lieu of granting a cycleimport quota to acompany.
BHU Funds (1956) – In one of the first instances of corruption in educational institutions, Benaras Hindu University officials were accused of misappropriation of funds worth Rs 50 lakh.
Mundhra Scandal (1957) – It was the media that first hinted there might be a scam involving the sale of shares to LIC, Feroz Gandhi sources the confidential correspondence between the then Finance Minister T.T. Krishnamachari and his principal finance secretary, and raised a question in Parliament on the sale of 'fraudulent' shares to LIC by a Calcutta-based Marwari businessman named Haridas Mundhra. The then Prime Minister, Jawaharlal Nehru, set up a one-man commission headed by Justice M.C.Chagla to investigate the matter when it becomes evident that there was a prima facie case. Chagla concluded that Mundhra had sold fictitious shares to LIC, thereby defrauding the insurancebehemoth to the tune of Rs. 1.25 crore. Mundhra was sentenced to 22 years in prison. The scam also forced the resignation of T.T.Krishnamachari.
Kairon Scam (1963) – Pratap Singh Kairon became the first Indian chief minister to be accused of abusing his power for his own benefit and that of his sons and relatives. He quit a year later.
Patnaik's Own Goal (1965) – Orissa Chief Minister Biju Patnaik was forced to resign after it was discovered that he had favoured his privately-held company Kalinga Tubes in awarding a government contract.
Maruti Scandal (1974) – Well before the company was set up, former Prime Minister Indira Gandhi's name came up in the first Maruti scandal, where her son Sanjay Gandhi was favoured with a license to make passenger cars.
Solanki Expos̩ (1992) РAt the World Economic Forum, Madhavsinh Solanki, then the external affairs minister, slipped a letter to his Swiss counterpart asking their government to stop the probe into the Bofors kickbacks. Solanki resigned when India Today broke thestory.
Kuo Oil Deal (1976) – The Indian Oil Corporation signed an Rs 2.2-crore oil contract with a non-existent firm in Hong Kong and a kickback was given. The petroleum and chemicals minister was directed to make the purchase.
Antulay Trust (1981) – With the exposure of this scandal concerning A.R. Antulay, then the chief minister of Maharashtra, The Indian Express was reborn. Antulay had garnered Rs 30 crore from businesses dependent on state resources like cement and kept the money in a private trust.
Bofors Pay-Off (1987) – A Swedish firm was accused of paying Rs 64 crore to Indian bigwigs, including Rajiv Gandhi, then the prime minister, to secure the purchase of the Bofors gun.
St Kitts Forgery (1989) – An attempt was made to sully V.P. Singh's Mr Clean image by forging documents to allege that he was a beneficiary of his son Ajeya Singh's account in the First Trust Corp. at St Kitts, with a deposit of $21 million.
Airbus Scandal (1990) – Indian Airlines's (IA) signing of the Rs 2,000-crore deal with Airbus instead of Boeing caused a furore following the crash of an A-320. New planes were grounded, causing IA a weekly loss of Rs 2.5 crore.
Securities Scam (1992) – Harshad Mehta manipulated banks to siphon off money and invested the funds in the stock market, leading to a crash. The loss: Rs 5,000 crore.
Indian Bank Rip-off (1992) – Aided by M. Gopalakrishnan, then the chairman of the Indian Bank, borrowers-mostly small corporates and exporters from the south-were lent a total of over Rs 1,300 crore, which they never paid back.
Sugar Import (1994) – As food minister, Kalpnath Rai presided over the import of sugar at a price higher than that of the market, causing a loss of Rs 650 crore to the exchequer. He resigned following the allegations.
JMM Bribes (1995) – Jharkhand Mukti Morcha leader Shailendra Mahato testified that he and three party members received bribes of Rs 30 lakh to bail out the P.V. Narasimha Rao government in the 1993 no-confidence motion.
In a Pickle (1996) – Pickle baron Lakhubhai Pathak raised a stink when he accused former Prime Minister P.V. Narasimha Rao and godman Chandraswami of accepting a bribe of Rs 10 lakh from him for securing a paper pulp contract.
Telecom Scam (1996) – Former minister of state for communication Sukh Ram was accused of causing a loss of Rs 1.6 crore to the exchequer by favouring a Hyderabad- based private firm in the purchase of telecom equipment. He, along with two others, was convicted in 2002.
Fodder Scam (1996) – The accountant general's concerns about the withdrawal of excess funds by Bihar's animal husbandry department unveiled a Rs 950-crore scam involving Lalu Prasad Yadav, then the state chief minister. He resigned a year later.
Urea Deal (1996) – C.S. Ramakrishnan, MD, National Fertiliser, and a group of businessmen close to the P.V. Narasimha Rao regime fleeced the government and took Rs 133 crore from the import of two lakh tonne of urea, which was never delivered.
Hawala Diaries (1996) – The scandal surfaced following CBI raids on hawala operators in Delhi in 1991. But it was S.K. Jain's diaries that had heads rolling.
CRB Scam (1997) – Another scam forged by greed and discovered through accident. Chain Roop Bhansali, a smart-talking entrepreneur, created a pyramid financial empire based on high-cost financing. At its peak, his Rs. 1,000-crore financial conglomerate had in its ranks a mutual fund, a financial services company into fixed deposits, and a merchant bank. That Bhansali knew how to work the system became evident when he also managed to secure a provisional banking license. Then his luck ran out. An executive in the State Bank of India Inadvertently discovered that some interest warrants issued by Bhansali were not backed by cash. The bubble finally burst in May 1997, but by that time investors had lost over Rs. 1,000 crore. This was among the first retail scams in India and it was played out, in smaller avatars, across the country-especially in the South where financial services companies promised returns in excess of 20 per cent and decamped with the principal. Bhansali was arrested for a few weeks and released later on bail.
Vanishing Companies Scam (1998) – A passing remark heard by then Finance Minister Palaniappan Chidambaram resulted in a furore over what was badly-kept secret on Dalal street. Chidambaram was told that hundreds of companies had disappeared after raising moneys form the public. An informal scrutiny revealed that perhaps over 600 companies were missing. Chidambaram ordered a probe by SEBI. The SEBI probe conducted in May 1998 revealed that while many companies are not traded on the bourses at least 80 companies that had rises Rs.330.78 crore were simply missing. Later that year, the Department of Company Affairs (DCA) was asked to probe and penalize these companies. DCA still investigating. Investigations continue to this day.
Plantation Companies Scam (1999) – It was as innovative a swindle as any effected in the world. Savvy entrepreneurs convinced gullible investors that given the right irrigation and fertilizer inputs, teak, strawberries, and anything else that could be grown, would grow anywhere in the country. The promoters could afford to collect money from investors and not worry about retribution (or returns, for that matter). For, plantation companies fell under the purview of neither SEBI nor Reserve Bank of India. Indeed, they didn't even come under the scope of the Department decided to change things in 1999, enough investors had been gulled: 653 companies, between them, had raised Rs. 2,563 crore from investors. To date, not many investors have got their principals back, just another affirmation of the old saying about money not growing on trees.
Match Fixing (2000) – Mohammed Azharuddin, till then India's cricket captain, was accused of match-fixing. He and Ajay Sharma were banned from playing, while Ajay Jadeja and Manoj Prabhakar were suspended for five years.
Ketan Pareks Scam (2001) – Ketan Parekh's modus operandi wasn't very different from Harshad Mehta's. If Mehta used banker's receipts, then Parekh used pay orders to ramp up the prices of his favourite scrips (the K-10). Apart from money form the banking system Parekh also rerouted money from corporated like HFCL (Rs. 425 crore), and Zee (Rs. 340 crore) to good effect. He was caught when pay-orders issued by Madhavpura Mercantile Cooperative Bank bounced. Although the total amount involved in the scam was just Rs. 137 crore, the impact was far greater.
Apparently, when a bear cartel sensed Parekh was in trouble, it stepped in and leveraged a dip in the NASDAQ to bear down stock prices. The resultant slump in the markets happened soon after Finance Minister Yashwant Sinha presented what he considered his best budget ever. Under pressure from the government, SEBI investigated the scam and heads began to roll. Among them: the entire management team of BSE, including its president Anand Rathi, CSFB, First Global, and, in an indirect connection, P.S.Subramanyam, the Chairman of UTL Evidently, for the 18 months that PSS was Chairman of UTI, the Trust had mirrored the actions of the bull cartel. The result? When the market tanked, so did the NAV of its holy cow, the US-64.
Tehelka Sting (2001) – Tehelka, an online news portal, used spycams to catch army officers and politicians accepting bribes, in their sting operation called Operation Westend. Investigative journalism turned another corner in the country.
Stockmarket Scam (2001) – The mayhem that wiped off over Rs 1,15,000 crore in the markets in March 2001 was masterminded by the Pentafour bull Ketan Parekh. He was arrested in December 2002 and banned from acccessing the capital market for 14 years.
Home Trade Scam (2002) – Under the pretext of gilt trading, Rs 600 crore was swindled from over 25 cooperative banks in Maharashtra and Gujarat by a Navi Mumbai-based brokerage firm Home Trade. Sanjay Agarwal, CEO of the firm, was arrested in May 2002.
Stamp Paper Scam (2003) – The sheer magnitude of the racket was shocking-it caused a loss of Rs 30,000 crore to the exchequer. Disclosures of the mastermind behind it, Abdul Karim Telgi, implicated top police officers and bureaucrats.
Oil-for-Food Scandal (2005) – K. Natwar Singh was unceremoniously dropped from the Cabinet when his name surfaced in the Volcker Report on the Iraq oil-for-food scam.
2010 Scams – Radia, Raja and more .... We all know that .... :)
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Wong Choon Mei, Malaysia Chronicle
In 2019, Malaysia would be 62 years old. If that is all it takes – just 62 years – for a nation to go bankrupt, then it only shows how grossly mismanaged the country has been.
Of the six prime ministers who have led Malaysia since 1957, the leader who must take the greatest blame for the sorry state the economy is now in is Mahathir Mohamad, whose 22-year rule alone accounts for nearly half of the nation’s post-independence history.
Thanks to his chase for mega projects, political opportunists and cronies were able to benefit from massive overpricing in almost all of the major deals that framed his career. From the North-South Expressway to Perwaja Steel, 1st Silicon to Proton, Bakun Dam to PKFZ, few of his projects have not ended up requiring some form of bailout from taxpayers at one time or another.
Smell of bankruptcy clearly in the air
It was also during his tenure that high-level government corruption in Malaysia really took off in a big way, and running parallel to this was his use of racial and religious politicking to divide and rule the multiracial country. Twin blows, double whammies for the economic future of the country. Didn’t anyone warn the Malaysian people then?
Yes, there were countless reports by research analysts and economic experts forecasting gloom and doom through the decades – from 70s to 80s, 90s and even now. But Mahathir chose to do it his way and no one dared to counter him.
The problem is that by now the gloom and doom is already a distinct possibility rather than a prophecy. Experts are talking about how and is it possible to reverse this trend rather than argue will it really happen. Even the Prime Minister’s Department has spoken – the smell of bankruptcy is clearly in the air.
Prime Minister Najib Razak's minders have begun warning Malaysians if they refuse to allow the government to slash subsidies on a range of essential goods, then the government won’t have enough money to churn economic activity and a fate similar to Greece, Dubai and even Thailand 13 years ago will be unavoidable.
Inviting junk bond status for Malaysian debt
At the same time, there is cross-talk from these same officials, who say the economy needs to grow an average 6 percent each year to reach developed nation status by 2020. How does this reconcile with the bankruptcy warning? Will Malaysia become a developed nation or will it be bankrupt? Surely it can’t declare bankruptcy in 2019, and a year later, become a developed nation. Which is it to be.?
By World Bank’s definition, developed nation status would mean achieving a minimum per capita income of US$14,800. In 2008, Malaysia’s per capital income was US$7,733.
This means Najib, who is also finance minister, needs to roughly double the income per person in the population within the next 10 years. But can he do so? His hands are already severely tied by record-high national debt. Malaysia’s gearing or debt to national gross domestic product is 52 percent or about RM405 billion.
This level may not be disastrously high yet but it is enough to makes the government’s ability to pump-prime the economy extremely difficult. Hence, the absence of large-scale projects so far by the Najib administration. To continue borrowing would invite reduced bond ratings and even junk status for Malaysian debt.
The government's annual cash flow is also affected as it has to set aside large sums to pay for the interest charged on the loans. This again bites into the amount it can spend on projects and other activities to raise the economic pace.
Driven out by Mahathir
What other way is there when you can’t borrow your way out of trouble and cash flow is tight? The answer is of course - other people’s money. These would come in the form of investments from Malaysians themselves and from foreigners as FDI.
But the big Malaysian investors are no longer so sure about their country. This is not a recent development. As far back as the 80s, Malaysian Chinese tycoons began diversifying their fortunes and investing in serious amounts in Hong Kong, China, Australia and more recently Vietnam.
At that time, Mahathir was in his prime. Brain drain, flight of talent and Malaysian capital didn’t bother him. The Singaporeans, Americans, Canadians and the British would come in and their wealth would more than compensate for these ‘disloyal people’, so went his rhetoric. Never did he once acknowledge that he was the one who drove them away with unequal opportunities, race-based policies and sheer arrogance.
Because the economy is a large animal, it takes time for trends to show up. Thirty years ago, as long as Mahathir was in power and he suppressed costs, foreign investors didn’t mind about the country's human rights record. Malaysia was still a good place to make money – many things including rent and wages were cheap, and the people could speak English relatively well.
But 1997 blew in. Foreign investors lost their shirts. The Singapore parallel trading system of Malaysian shares was shut down overnight to prevent their investors from selling Malaysian stock. A large British investment bank was said to have lost US$3 billion in Malaysian assets within a week.
The nightmare stories are countless and this was when short-term portfolio investors first began falling out of love with Malaysia. Though they have since returned after boycotting the country for years, the amounts they bring in are much smaller and their investment horizon or the time they keep the money in the country much shorter.
The FDI players - and these include U.S. chip makers like Intel, Motorola and AMD - were shocked but saw no reason to suddenly shut down their plants. But even so, they were happy to go when a few years later, Vietnam, China and India beckoned with even lower-cost facilities and superior tax packages.
Najib destroyed confidence in the Malaysian system
Meanwhile, the Malaysian tycoons, including Mahathir’s own coterie of cronies, began feeling uncomfortable when he started to tear at his successor Abdullah Badawi and tried to bring his administration down. That’s when it dawned on them that perhaps 'stability' – as in how they always been allowed to carry out their money-making schemes without question or trouble – may no longer be taken for granted.
Slowly they began channeling to other countries more of their money – and many say this also included the money they held on behalf of corrupt top leaders. Even the profits they made in other countries, they repatriated less and less of it home to Malaysia.
Then came the 2008 general elections and in blew a new political dimension Pakatan Rakyat. Worse still in 2009, in came Najib as Badawi’s successor. Not that they had anything against him – he seemed pro-business. But then he signaled ‘civil war’.
With the Perak coup d’etat, Najib single-handedly triggered the down spiral of the entire Malaysian system. In his insistence to annihilate Opposition Leader Anwar Ibrahim, he abused his power to such an extent that few people have any trust left in the Malaysian judiciary. They never had much faith in the police and the MACC to begin with.
Corruption, racial and religious politicking still rule
And so investors began to step on the pedal to divest in Malaysia and invest elsewhere in the region. The foreign investors were not slow to catch on either. They too rushed to join the exodus. And this how in 2009, Malaysia recorded an 81 percent plunge in FDI – due to a combination of falling inward foreign investments and increasing reverse or outbound Malaysian investments.
Can Malaysia still achieve developed status by 2020? Only if these investors changed their minds and poured back their funds will this country of 28 million have a chance to raise its per capita income. This is the only way for Malaysians to break out from the middle-income trap into a high-income or developed status nation.
But for that to happen, it would require a miracle from Najib. Judging from his latest corruption battle that many have described as a charade with the arrest of former Transport Minister Ling Liong Sik over the PKFZ debacle, corruption is here to stay for so long as he is the prime minister.
As for a system of meritocracy, healthy competition and non-racial politics, again Liong Sik is a fine indication that racism will reign in Malaysia during his rule.
And judging from the way his Umno party is going hell-for-leather to beat PAS for the championship title of who is the No. 1 protector of Islam – even to the extent of minority bashing – it looks religion will continue to be a weapon of economic destruction in this country. Rather than a sanctuary for the spirit and the soul.
In 2019, Malaysia would be 62 years old. If that is all it takes – just 62 years – for a nation to go bankrupt, then it only shows how grossly mismanaged the country has been.
Of the six prime ministers who have led Malaysia since 1957, the leader who must take the greatest blame for the sorry state the economy is now in is Mahathir Mohamad, whose 22-year rule alone accounts for nearly half of the nation’s post-independence history.
Thanks to his chase for mega projects, political opportunists and cronies were able to benefit from massive overpricing in almost all of the major deals that framed his career. From the North-South Expressway to Perwaja Steel, 1st Silicon to Proton, Bakun Dam to PKFZ, few of his projects have not ended up requiring some form of bailout from taxpayers at one time or another.
Smell of bankruptcy clearly in the air
It was also during his tenure that high-level government corruption in Malaysia really took off in a big way, and running parallel to this was his use of racial and religious politicking to divide and rule the multiracial country. Twin blows, double whammies for the economic future of the country. Didn’t anyone warn the Malaysian people then?
Yes, there were countless reports by research analysts and economic experts forecasting gloom and doom through the decades – from 70s to 80s, 90s and even now. But Mahathir chose to do it his way and no one dared to counter him.
The problem is that by now the gloom and doom is already a distinct possibility rather than a prophecy. Experts are talking about how and is it possible to reverse this trend rather than argue will it really happen. Even the Prime Minister’s Department has spoken – the smell of bankruptcy is clearly in the air.
Prime Minister Najib Razak's minders have begun warning Malaysians if they refuse to allow the government to slash subsidies on a range of essential goods, then the government won’t have enough money to churn economic activity and a fate similar to Greece, Dubai and even Thailand 13 years ago will be unavoidable.
Inviting junk bond status for Malaysian debt
At the same time, there is cross-talk from these same officials, who say the economy needs to grow an average 6 percent each year to reach developed nation status by 2020. How does this reconcile with the bankruptcy warning? Will Malaysia become a developed nation or will it be bankrupt? Surely it can’t declare bankruptcy in 2019, and a year later, become a developed nation. Which is it to be.?
By World Bank’s definition, developed nation status would mean achieving a minimum per capita income of US$14,800. In 2008, Malaysia’s per capital income was US$7,733.
This means Najib, who is also finance minister, needs to roughly double the income per person in the population within the next 10 years. But can he do so? His hands are already severely tied by record-high national debt. Malaysia’s gearing or debt to national gross domestic product is 52 percent or about RM405 billion.
This level may not be disastrously high yet but it is enough to makes the government’s ability to pump-prime the economy extremely difficult. Hence, the absence of large-scale projects so far by the Najib administration. To continue borrowing would invite reduced bond ratings and even junk status for Malaysian debt.
The government's annual cash flow is also affected as it has to set aside large sums to pay for the interest charged on the loans. This again bites into the amount it can spend on projects and other activities to raise the economic pace.
Driven out by Mahathir
What other way is there when you can’t borrow your way out of trouble and cash flow is tight? The answer is of course - other people’s money. These would come in the form of investments from Malaysians themselves and from foreigners as FDI.
But the big Malaysian investors are no longer so sure about their country. This is not a recent development. As far back as the 80s, Malaysian Chinese tycoons began diversifying their fortunes and investing in serious amounts in Hong Kong, China, Australia and more recently Vietnam.
At that time, Mahathir was in his prime. Brain drain, flight of talent and Malaysian capital didn’t bother him. The Singaporeans, Americans, Canadians and the British would come in and their wealth would more than compensate for these ‘disloyal people’, so went his rhetoric. Never did he once acknowledge that he was the one who drove them away with unequal opportunities, race-based policies and sheer arrogance.
Because the economy is a large animal, it takes time for trends to show up. Thirty years ago, as long as Mahathir was in power and he suppressed costs, foreign investors didn’t mind about the country's human rights record. Malaysia was still a good place to make money – many things including rent and wages were cheap, and the people could speak English relatively well.
But 1997 blew in. Foreign investors lost their shirts. The Singapore parallel trading system of Malaysian shares was shut down overnight to prevent their investors from selling Malaysian stock. A large British investment bank was said to have lost US$3 billion in Malaysian assets within a week.
The nightmare stories are countless and this was when short-term portfolio investors first began falling out of love with Malaysia. Though they have since returned after boycotting the country for years, the amounts they bring in are much smaller and their investment horizon or the time they keep the money in the country much shorter.
The FDI players - and these include U.S. chip makers like Intel, Motorola and AMD - were shocked but saw no reason to suddenly shut down their plants. But even so, they were happy to go when a few years later, Vietnam, China and India beckoned with even lower-cost facilities and superior tax packages.
Najib destroyed confidence in the Malaysian system
Meanwhile, the Malaysian tycoons, including Mahathir’s own coterie of cronies, began feeling uncomfortable when he started to tear at his successor Abdullah Badawi and tried to bring his administration down. That’s when it dawned on them that perhaps 'stability' – as in how they always been allowed to carry out their money-making schemes without question or trouble – may no longer be taken for granted.
Slowly they began channeling to other countries more of their money – and many say this also included the money they held on behalf of corrupt top leaders. Even the profits they made in other countries, they repatriated less and less of it home to Malaysia.
Then came the 2008 general elections and in blew a new political dimension Pakatan Rakyat. Worse still in 2009, in came Najib as Badawi’s successor. Not that they had anything against him – he seemed pro-business. But then he signaled ‘civil war’.
With the Perak coup d’etat, Najib single-handedly triggered the down spiral of the entire Malaysian system. In his insistence to annihilate Opposition Leader Anwar Ibrahim, he abused his power to such an extent that few people have any trust left in the Malaysian judiciary. They never had much faith in the police and the MACC to begin with.
Corruption, racial and religious politicking still rule
And so investors began to step on the pedal to divest in Malaysia and invest elsewhere in the region. The foreign investors were not slow to catch on either. They too rushed to join the exodus. And this how in 2009, Malaysia recorded an 81 percent plunge in FDI – due to a combination of falling inward foreign investments and increasing reverse or outbound Malaysian investments.
Can Malaysia still achieve developed status by 2020? Only if these investors changed their minds and poured back their funds will this country of 28 million have a chance to raise its per capita income. This is the only way for Malaysians to break out from the middle-income trap into a high-income or developed status nation.
But for that to happen, it would require a miracle from Najib. Judging from his latest corruption battle that many have described as a charade with the arrest of former Transport Minister Ling Liong Sik over the PKFZ debacle, corruption is here to stay for so long as he is the prime minister.
As for a system of meritocracy, healthy competition and non-racial politics, again Liong Sik is a fine indication that racism will reign in Malaysia during his rule.
And judging from the way his Umno party is going hell-for-leather to beat PAS for the championship title of who is the No. 1 protector of Islam – even to the extent of minority bashing – it looks religion will continue to be a weapon of economic destruction in this country. Rather than a sanctuary for the spirit and the soul.
YOU CAN ADD TO THE LIST.- I just lost count !!!
"Vande Mataram" - Mera Bharat Mahaan!!
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