Merdeka: Di sini lahirnya ....🎼

 

Di sini lahirnya sebuah cinta

Yg murni abadi sejati

Di sini tersemai cita2

Bercambah menjadi warisan ... 🎵🎶🎼

Experts long warned of sinking cities along Malaysian coast

Taken from the Youtuber EARTHBOUND, 3 years ago: 

Temperatures and sea levels are rising all over the world. Low-lying coastal cities are already dealing with disastrous floods and are desperately trying to find innovative ways to combat rising sea levels. Here are ten sinking cities that will soon be underwater.

Jakarta was mentioned. In South-East Asia, two other cities are also seriously facing the risk of sinking; namely Manila and Bangkok.

Malaysia's Kuala Lumpur and other coastal cities are not spared too.

The effect of climate change is not a hoax as claimed by Donald Trump. During his 22 years 'reign', Mahathir too ignored the environmental cause championed by fomer US Vice President, Al Gore. 

MAS emergency landings: Technical/human or sabotage?

There is a war of words between current and former Ministers of Transport on the recent incident of another unscheduled landing by MAS. 

The former Minister, who happens to be current MCA President, Dr Wee Ka Siong raised issue with the regular occurrence of emergency landing, turnback, and flight cancellations. He calls for a probe. 

Coming from his political rival, current Minister and DAP Secretary General, Anthony Loke sensed it is weaponise for politics and seemed to have "koyak" (lost his cool in today's lingo). He told Ka Siong not to create panic and question the professionalism of MAS or MAG. 

Whether it is coincidental or unintentional, the new policy announcement for fare refund could be wrongly perceived as diverting the issue. Nevertheless it is a long overdue. 

Had this happened in the past, we would have questioned Ka Siong and defended MAS. Read this 2012 posting entitled "Two MAS engines trouble incidents; Adding two and two together." [Do read it via VPN. Damn Fahmi Fadzil still refusing to unblock Annuar Musa's block.] 

For this, Ka Siong is justified.      

The impending fall of Vincent Tan

History is filled with the rise and fall of leaders, empires and civilisations. One such history is probably in the making.Another Mahathir man be biting the dust.

Last week August 23rd, Forbes published an article on the upcoming listing of 99 Speedmart. The rival of Vincent Tan's 7-Eleven will make founder Lim Thiam Wah the next billionaire. Thiam Wah was a former shareholder of Alliance Bank and has since sold his 18% stake.

In the meanwhile, controversial KKMart aborted its listing plan in March but is back on course. The charges against KKMart founder and executive chairman, Datuk Seri Dr Chai Kee Kan and his Director wife Datin Seri Loh Siew Mui thrown out by the court. 

It looked to be a fix-up job to an experienced eye of Malaysia's toxic politics of race and religion.  

Pemuda UMNO Chief, Datuk Dr Akmal Salleh made an issue out of it and the majority of Muslim population got riled up over 5 stockins with the name of Allah found at two KKmart outlets and viraled by preacher Firdaus Wong. . 

Yes, its not a mistake. Akmal was bestowed Datokship by the TYT of Melaka. The KKMart affair raised his political profile within UMNO and among Malay electorates. But thats another story. 

The point is another competitor for Vincent Tan's Berjaya Group beefing up for competition. However, this posting is not about a possible trade war of neighbourhood sundry shops transformed as convenience retail outlets. 

Its about Vincent Tan. 

Tax: Another elephant in the room

There is an allegation on social media yesterday of government facing a deficit in its operating expenses in the midst of concern of rising debt. 

That is both a serious allegation and supposedly shocking revelation from on an undisclosed source. The federal constitution forbid borrowing to fund government operating expenses. Perhaps, there is projected funds inflow and deficit is transitory. See how the account close.

Since the social media have been both critical and cynical on the fuel rationalisation plan, then they can see the need to move from diesel rationalisation to the next phase of the fiscal reform for Ron 95 rationalisation. 

Whether they like it or not, the elephant in the room is the perennial issue of low tax revenue. Since they are those strongly advocating for the return of the cascading effect GST, they should have no complain for e-invoicing.

Successful reset to Mahathir's past Indian diplomatic bungle

Anwar Ibrahim's three day visit to India from Monday the 19th to Wednesday 21st yielded an MOU worth RM8 billion, boosting trade, and described as successful by media today. 

The usual cliched words to report any formal visits abroad. It required a closer inspection of the achievements of the visits and a reflection of the political event in the last 5 year to appreciate its significance.

In particular, there was a strained relation in 2019 during Mahathir's second term as Prime Minister. He claimed India was bitter with his remark on Kashmir at the United Nation. 

Though true, Mahathir was not consistent and selective. He is silent  on the suppression of Uighar by the Chinese. 

The truth is he was bitter with India for filing criminal charges against his widely talked "business proxy", Ananda Krishnan which caused his US$7 billion wiped out from his business venture in India!      

Thailand: More political drama or nearing end game?

The economy of Thailand have been sluggish lately, but not its politics.  

One view is the economic malaise was due to Pita Limjaroenrat being denied to lead the government and his party, Moving Forward Party (MFP), which won the majority in last year's Thai general election by campaigning for the repeal of Lese Majeste law, was disbanded by the Consitutional Court. 

Its alleged that Pita is supported by the US for his liberal democracy agenda and in retaliation, the economy suffered for denying his victory.  

However, Thailand is of interest not for the politics but for the attention of Anwar Ibrahim for meeting twice in a month his Thai countepart, Srettha Thavisin.

From current, Srettha turned former Prime Minister over the weekend. Replacing him is Paetongtarn Shinawatra, the 37 year old daughter of deposed former Prime Minister and de facto leader of the red shirt movement, Thaksin Sinawatra. 

Her premiership makes for interesting observation as to whether the former policemen, and businessmen before becoming Prime Minister still wield influence behind the scene in the running of the country. 

Thanks to Annuar Musa's "Ikut aku la, Pitih aku"

The image of Tan Sri Annuar Musa campaigning at the orang Asli Pos in a Louis Vuitton jacket and giving out "cenderahati" (gifts) of biscuits and Maggi Mee sealed the unexpected win for UMNO iin Nenggiri, Hulu Kelantan and somewhat avenge Unity Government's PKR dismal lost at Sungai Bakap.

Being made a campaign target and politically cyberbullied, Annuar the loud, narcissistic and a bully himself chose to respond head-on to the viral image of the price tag of his LV jacket and other luxury branded clothings, footwear and watches on stage in Kelantanese dilect, "It's up to me, it's my money!" 

Without knowledge of happening on the ground, that seemed to pretty much sealed Bersatu's fate that saw BN  win back the state assembly seat lost at the 15th general election, in which the longest serving MP in Malaysia, the venerable Tengku Razaleign Hamzah lost the seat he held since 1974. 

Its a consoling win for Ku Li with UMNO's Mohamed Asmawi Fikri beaten Bersatu's imported candidate from PAS, Mohd Iswardi Ismail by 3.352 votes. His influence and respect among the Orang Asli remain.  

BNM announced higher than expected 2Q GDP

Bank Negara Malaysia and Department of Statistic announced a second quarter GDP, slightly higher than the advanced estimate of 5.8% announced by Anwar Ibrahim last month. 

Free Malaysia Today reported: 

Malaysia’s GDP grows 5.9% in Q2 2024

Natasha Busst and Emma Husun - 16 Aug 2024, 12:06 PM

Bank Negara Malaysia attributes performance to stronger household spending amid positive labour market conditions and larger policy support.

KUALA LUMPUR: Malaysia’s economy grew 5.9% in the second quarter of this year (Q2 2024) thanks to stronger household spending amid positive labour market conditions and larger policy support.

Bank Negara Malaysia also attributed the strong growth rate to a pick-up in exports and tourist arrivals, as well as robust expansion in investment activities.

Forget US, Europe, Goldman re-rating Malaysia

So much for Donald Trump and some pessimism on Malaysia. 

And, so much for market getting more pessimistic on the possibility of  recession after last week's public relation exercise by Wall Street to claim it is not as bad. In Star Online today, "Market pricing in higher recession odds", the sub-heading reads "Goldman, JP Morgan say chances of downturn still remain".

Not too far off from this blogger's expectectation of the post- "crash" market condition  here. There is also the contrarian view such as this Wells Fargo strategist's prediction of 1995 re-run here.

However, the "crash" seemed to be a blessing in disguise. Despite the fear of war in the Middle East and Russia-Ukraine war could erupt with a Ukraine attempt to encroach into Russian controlled area, Malaysia is on the spotlight.

Its getting re-rating from none other than Goldman Sachs, the Investment Bank in a legal dispute with Malaysia in relation to 1MDB.  

Trump 2nd Presidency: Impact on Malaysia

In the midst of local and international attention to Anwar Ibrahim's announcement of Malaysia applying to join BRICS during the commemuration of 50-year Malaysia-China diplomatic relation, there was concern on its impact on Malaysia's E&E sector. 

Immediately, MOSTI Minister Chang Lih Kang came out with a word of comfort citing it will not effect the sector and Malaysia's neutrality is cited as the reason. He said Malaysia's motivation to join BRICS is for the economics mutual benefit as if to tone down the dedollarisation motivation. 

The celebration remains on going with an exhibition at a major shopping complex. Its obviously a major charm exercise by Anwar to win China's heart. 

Not to be seen too obvious, especially on the BRICS, which in a matter of a month, Russian Foreign Minister came to visit Malaysia, Tengku Zafrul reminded that Malaysia is also part of OECD. Neutrality was also mentioned by Tengku Zafrul in his speech to his Ministry on July 18th. 

The elephant in the room is the possibility of Donald Trump returning to White House. He anticipate Trump to renew trade war against China and there will be a massive wave of relocation that will benefit Malaysia, Singapore and Vietnam.  

Annuar Musa, kerajaan PAS dalang geran peneroka Kesedar lambat

Jika dahulu PAS memainkan naratif menentang Assobiyah, kini mereka pula yang mahu kelihatan lebih Melayu sambil melaungkan Islam terancam. Namun hakikatnya sebalik kerana Gua Musang dan daerah Hulu Kelantan merupakan contoh jelas naratif PAS hari ini hanya suatu kemunafiqan.  

Sejak 1964 hingga ke hari dan kini masih berterusan meleluas, ratusan ribu ekar tanah begitu mudah "jatuh" ke tangan syarikat-syarikat orang luar dan asing tetapi program penyerahan geran tanah kepada anak tempatan khususnya Kesedar begitu susah sekali diselesaikan oleh kerajaan negeri.

Kerajaan negeri yang ditadbir PAS adalah kuasa penentu untuk geran-geran tanah ditukar nama kepada pemilik yang ditujukan. Hal ini diperakui sendiri oleh MB Kelantan, namun pihak kerajaan PAS hanya mempolitikkan. 

Bagi peneroka-peneroka program Kesedar, mereka hanya mahu urusan ini diselesaikan segera tanpa pelbagai alasan-alasan.

Ratusan ribu ekar tanah Gua Musang jatuh ke "orang asing"

Penyelewengan tanah oleh kerajaan PAS Kelantan khususnya di Gua Musang adalah sesuatu yang telah berlaku berdekad-dekad lamanya lebih dari 60 tahun dan masih terus berleluasa hingga ke hari ini.

Pada tahun 2012, blog pro-BN, Pisau.net mendedahkan kerajaan negeri memberikan tanah balak seluas 10,526 hektar di Gua Musang yang bernilai RM30 juta kepada sebuah syarikat kepunyaan pemimpin DAP, Datok Ngeh Koo Ham. Walaupun dinafikan ketika itu oleh Fadhli Shaari, pemberian tersebut rahsia umum sebagai imbuhan untuk DAP bersetuju menerima Datuk Seri Nizar Jamaluddin dilantik  Menteri Besar Perak selepas pilihanraya umum 2008.

Sebaik mengambilalih pentadbiran Kelantan dari tahun 1990, timbul skandal Ladang Rakyat yang membabitkan tanah seluas 80,000 hektar. Berselindung disebalik program untuk membasmi kemiskinan untuk 4,000 penduduk di daerah Hulu Kelantan kawasan Gua Musang, tanah dipejak ke syarikat-syarikat luar yang mana menjadi habuan untuk pemimpin-pemimpin PAS. 

Ketika pertama kali memerintah Kelantan sepanjang tahun 1964 ke pertengahan 1975, blog Taiping Mali mendedahkan "Kerajaan PAS Kelantan telah menyerahkan hak milik tanah seluas lebih 300,000 ekar secara pajakan kepada sebuah syarikat dari Singapura." Syarikat yang dimaksudkan didedahkan blog Bro Jinggo sebagai Timber & Mine Industrial Corporation. 

Kini timbul pula skandal-skandal tanah yang baru seperti berikut:   

Congestion on the Straits of Malacca sea lane

An extract from the Port Economics, Management and Policy website reads below:

Due to geography, geopolitics, and trade flows, specific locations play a strategic role in the global maritime network. They are labeled as chokepoints and can be classified into two main categories:

• Primary chokepoints. The most important is that they offer limited cost-effective maritime shipping alternatives, which would seriously impair global trade if disrupted. The first type of chokepoints concerns connectors along major oceans and seas. Among those are the Panama Canal, the Suez Canal, and the Strait of Malacca, which are key locations in the global trade of goods and commodities. The closure of these bottlenecks would force the diversion of maritime traffic over long distances with the associated loss of time and capacity. 

Of late, the Panama Canal is running dry and water is at critically low level for the waterway to operate. The lack of rain due to the El Nino phenomenon has resulted in the second driest season in the canal's 110 year history. [read BBC here]. 

According to IMF blog, Panama Canal saw trade fell by 32% in the early part of 2024. Larger still is Suez Canal, by 50%. Since late December 2023, Suez Canal and Red Sea are under threat. Houthi rebels from Yemen attacked ships in response Israel's bombardment of Gaza and so-called retaliation to Hamas rocket attacks. 

Ships were diverted through the Cape of Good Hope and it added 6,000 nautical miles to journey. Situation may worsen with Israel seemed destined to attack Hezbollah in Lebanon and the possible confrontation with Iran. 

If that is not problematic enough for international trade, the Straits of Melaka recently faced a massive congestion.  

Yen-led Black Monday: The end of Pax Americana?

According to market watchers, the Black Monday few days ago was sparked by a squeeze on carry trade, a similar arbitrage trading strategy used in the 1997 attack on Ringgit which Mahathir conveniently picked on George Soros. 

Reuters reported on Tuesday:  

The U.S. dollar was nursing steep losses on Tuesday, with the yen on the back foot after a sharp rise in the previous session as traders contend with unwinding of popular carry trades and the prospect of deep rate cuts from the Federal Reserve.

The yen was weaker on Tuesday at 144.47 per dollar, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. The yen was also lower against the Australian dollar, euro and sterling.

Financial markets entering the witching hours

Witching hour is the time of night, usually between 3 to 4 am, whereby supernaturals of witches, demons and ghosts roam and at their most powerful. 

In our days trading in the financial markets, the 3 to 4 am refers to the period around the third and fourth quarter of the year when market is most volatile and turmoil in the market usually happen before the period of low trading volume during Christmas to New Year. 

By the look of it, the global financial market is entering the witching period of the year. There was a sell-off on Wall Street last week arising from a poor job data which indicate recession is coming in.  

In support of Auditor General, Wan Suraya

Its not that certain commentator didn't get it when the latest Auditor General report was brushed aside as "same sorry stories about the civil service: wastage of public funds, inefficiency, profligacy, incompetence and dishonesty" that will eventually be forgotten in public sphere. 

Perhaps he is right since the issues raised by the Auditor General that was hot in July has quietened down in the media. Well, he failed to realise the report started to gain attention from its initial release in March. 

Maybe there was no heads up to alert the commentator that the report is not merely about the RM42 billion cost of projects being audited, or 64 recommendations to the government, or open secrets known over last few years of misappropriation such as the HRDC finally came to surface. 

It's also not about last year appointed and impressive 29 years resume of Auditor General, Dato Wan Suraya's second Auditor Report release of fully her own. The report was lauded by Tan Sri Azman Hashim for its out of the ordinary independence and transparent. 

Its about her tasking "to transform and restructure the auditing system and strengthen the country's financial management".