Has the Daim episode ended with the court acquital?

De mortuis nil nisi bonum
Of the dead nothing but good is to be said

In common parlance, its "Don't speak ill of the dead". Its disrespectful to speak ill or anything bad of the deceased because they are not able to defend themselves.

Life in the temporal world has ended. Their worldly affair has ended. The fate of their soul is the affair of God. It is history that will make an assessment or for lack of a better word, judgement for their deed to mankind. 

To Muslims, the noble act is to pray to Allah for forgiveness, mercy and protection for the deceased and grant them honourable reception. 

On that note, Al Fatihah prayers for Allahyarham Tun Daim Zainuddin. 

Petronas vs Petros: Resolve it once and for all

Not many lawyers are aware of item 3 Part V of the Federal Constitution with regard to additional sources of revenue to the states of Sabah and Sarawak, which is among the clauses clearly spelling out oil royalty for Sabah and Sarawak is 10%.

It was NEITHER 20% as Anwar once promised in past campaigns as opposition leader NOR was it 5% as spelled out in the Petroleum Development Act (PDA) put together by Tengku Razaleigh. 

Part V, which most lawyers tend to skip reading, spelled out the irrevocable Federal and State list.

This knowledge would come in handy in the erupting issue of oil royalty between the state of Sabah and Sarawak with the Federal government. As of late, the Sarawak side are bluntly calling Petronas officials in the face as robbers. 

U Mobile: Putting aside Vincent Tan, S'pore, Istana, and politics

The announcement of U Mobile being awarded the second 5G network came as a surprise. 

It is taken that Huawei will enter the 5G market and allowing government initiative DNB as lone network for 5G is considered risky in the event something goes wrong with the sole national 5G network. 

The question is who will be Huawei's partner?

All along, there is this widely held belief that it should be Maxis. Google news on Huawei, Maxis and there is a long list of announced collaborations that goes back to the time of DNB inception and as early as 2019. 

Perhaps, that was the reason Maxis enquired to know the rationale for the second 5G award to announce they will engage MCMC. Subsequently they will consider their options. 

Aerodyne accused conduit for political slush fund

Four days ago on November 8th, Focus Malaysia published an article entitled “Malaysian drone high-flyer Aerodyne in financial mess even after swallowing RM300m public money”. 

Since then, the article has viral on social media and republished by i3Investor and Reddit. Aerodyne is in play. More so, Azam Baki hinted that another Khazanah company is on its radar screen. Believe there are many more. 

It all started when Aerodyne owner, Datok Kamarul Muhammad uttered the word "a#**hole" in his  remark on November 5th X in reaction to the debacle on his fellow start-up Fashion Valet. MACC has moved in on FV and from the discussion on Sosmed, they have found irregularities and peculiar transactions.    

Free Malaysian continued their salvo on X against Aerodyne. Revealed that it is a RM100,000 company and have been borrowing all around for RM300 million yet it is not profitable. Can read it on in Focus Malaysia. 

This issue of Aerodyne is actually not new. 

Did Nie Ching covered-up Lip Eng's alleged criminal syndicate?

Back in June and July, this blog made expose on a syndicate involving PRC Chinese and allegedly DAP MP for Kepong who happened to be the former MP for Segambut, Lim Lip Eng. 

Together with the blog, JMB Malaysia News and others, it was exposed that owners of condo Icon Residence and other condominiums in Segambut were fleeced off their monthly management fee by the illegally appointed Management Company (JMB) in the millions by this foreign thug-administered syndicate. 

The tenants brought the matter to Commission of Building (COB) and it had ruled in favour of the legitmately elected Management Committee. JMB was supposed to passover the management and documents to MC. Allegedly Lim Lip Eng refused and through his connection at DBKL, he bought time to made an appeal to High Court on the COB decision. 

Last week, the High Court rejected the application and Lim Lip Eng and his PRC "gangsters" have to conform to the earlier decision by COB. The MC is the legitimate administrator of the property. [Read Rakyat Insight here and the court decision below]

Irene Omar and any Khazanah, PNB complot need a life too

The public pressure was unbearable that the owner of FashionValet (FV), Vivy Yusof and Fadza Annuar officially apologised and resigned from the company. 

Off course, they have to resign now that Afzal and his company, NBXT Partner have majority control. Its unlikely of him to keep the never profitable FV team. Otherwise, the member of the BOD of CIMB would be seen as in collusion.

Khazanah too issued a statement and cited the Covid 19 pandemic as the primary reason for the company's failure. 

A member of the Board of Director of FV, former CEO of Air Asia Berhad, and current President of Capital A Berhad, Irene Omar too spoke of the financial devastation of the pandemic on businesses including Air Asia. 

Snippet of her video below:

Frankly she better put her life in order because she will be facing public scrutiny and someone could be facing "life sentence" for trying to cover-up for allegation of squandering public money. 

FashionValet: Who is Vivy's father, Yusof Perancis?

The humongous loss and the fire sale of FashionValet.com has been the buzz within the local tech community for a while, but it did not catch on publicly till Yeo Bee Yin recently raised the issue in Parliament.  

Typical of Malaysians to immediately point fingers at politicians. The imprisoned Najib was blamed. Daim and his then "Council of Elders" (Council of Emminent Persons) linked. His puppet Economic Minister, Azmin Ali implicated.  

But then the nicnamed father of Vivy, Yusof Perancis immediatey became a conversation. 

He was PMX's former Secretary when he was DPM. Yusof is close with Deputy Prime Ministers - past and present, and also past Ministers like Annuar Musa and Maszlee Malek. And, said to be capable at structuring schemes in investment, business and funding. [Read Carigold HERE]

Afzal, the man behind the buyer, NVBT Partner can be given a political spin, but better not to go through that path. Everythng can be spinned to PH, BN and PN, so stick to the facts, issue of accountability, and individuals' integrity. 

As Scoop.com's A Azam Aris wrote:

Given that taxpayer funds and deposits are either directly or indirectly involved, Malaysians feel justified in asking for comprehensive accountability. Transparency in such high-stakes investments is paramount to upholding public trust, particularly when public funds are involved.

Is PAS seriously anti-China or merely 3R political rhetorics against Chinese?

Taken from Malaysiakini here

During the heat of the controversy over Chinese foreign students at a private High School waving China flag to welcome their countryman - Navy Cadet making a port-of-call at the Penang port, the emotional outburst by Malays as provoked by politicians - be them from PPBM or PAS or few UMNO politucians.

To the servicemen, its a common practise in military diplomacy. The US's 7th fleet manned by real navy routinely do port-of-call in Penang, Port Klang and Kota Kinabalu. 

Few yeas ago an aircraft carrier stopped over at Port Klang. Within days after the incident, Russian and German Navy made port-of-call. 

The uproar over China flag waving by Chinese tourist at a recent Guan Gong festival in Telok Intan seemed to be an extension from the sentiment provoked by the Penang port-of-call. 

Its unfathomable for Malaysians to get upset over the China flag when its common to see Malaysian displaying paraphenalia with Union Jack or Star Spangled Banner. 

Western media downplay Russia's proposed BRICS payment system

The 16th BRICS Summit is currently being held at Kazan, Russia from October 22nd to 24th. Malaysia sent its Minister for Foreign Affairs and Minister of Economy to attend the Summit as BRICS plus members and pending full membership. 

The western-controlled foreign media seemed to playdown the importance of the event. It is highlighted as Putin show. He did not attend the earlier summit in South Africa following the arrest warrant issued by the ICC. 

Putin boasted the emergence of a multi-polar world order and media maintained focus on Russia's on-going war with Ukraine. The Japan Times depicted Putin as describing BRICS as a "multipolar world” created to challenge to the U.S.-dominated global order.

Being downplayed is Xi Jin Peng's emphasis on BRICS as a platform aimed at  "fostering an inclusive economic globalisation". This comes at a time the west is imposing sanctions on China and protectionism has returned. 

Successful manouvering of contentious citizenship issue

Today is Budget day and all eyes will focus on it, but it should not deny due recognition to Home Minister, Dato Seri Saifuddin Nasution Ismail for successfully manouvering this decades-long and contentious issue of citizenship to do the amendment to the act. 

Saifuddin is Anwar's main man and Secretary General of PKR. And, PKR was formerly a bitter rival of BN, but credit where it is due. 

It is a long overdue amendment to a long-standing gender inequality issue and grave injustice towards Malaysian women. Their off-springs were denied citizenship for the simple reason they fell in love and had foreign husbands. 

Since it was difficult for the foreign husband of Malaysian wives to gain employment in Malaysia, they ended up being uprooted abroad. Its common to encounter Malaysians living abroad and contemporaries stuck in this predicament with family ended up in limbo from being denied access to employment, health services and education. 

The citizenship problem also contributed to the Malaysian brain drain. Once abroad it is not easy to bring them back. The reason the Talent Corp initiative once led by MOF Sec-Gen ended up as a failure.    

The constraint to greater gender inequality still remain and the group Family Frontier wanted the amendment to be restrospective. But thats too much to ask. At least, Saifuddin had the political will kick start by moving ahead and pursue this low hanging fruit. 

Trump pulls even on the polls, UBS predict 10% drop on S&P

The latest stories this morning on the US election indicate Kamala Harris losing ground, and Donald Trump pulls even on the poll. Forbes reported all 6 battleground states are neck to neck with Trump apparently leading Pennsylvania. 

Local Malaysian bar room political soothsayers been telling all along not to believe a woman and more so, Black and Asian descent will ever make US President. At the final stretch, skin colour will be the deciding factor, they claimed.

Well, Dean from the tiktok of Alexis and Dean have taken the safe view that it is a 50:50 situation three days ago. Both Harris and Trump's campaign team have been taking the attitude it will be down to the wire. Do not read too much into the poll. Hillary had the poll in her favour, but lost the electoral college count. 

In the meanwhile, Forbes reported Trump's tariff could pull the S&P down by 10%. The Forbes report below:

Challenging budget to be tabled Oct 18th

Government Budget for 2025 will be tabled in Parliament next week on October 18th. The conversation in the mainstream, on-line and social media have begun to pick up and the coverage will be bigger next week leading to Budget day. 

Seldom this blog delved on the Budget before it is tabled. Its decades since this blogger bothered to watch the live Budget presentation. Prefer to buy up all the newspapers the next morning to read the highlights and wait for analysts' reports on Monday. Perhaps, this year will be an exception. 

It is not because of the turmoil in Europe. Middle East and on-going "pivot" on China. And, not because media was mum prior to the Bukit Mahkota by-election and only started to deal with the less-than-rosy news coming.  

The boring predictability of Budget discussion by politicians and public is that its too focused on the spending side. Repeatedly discussed are demand for larger allocations, arguement for prioritising this over that, and what government should do, et al, but hardly anyone talks about where the revenue will be coming from.

For almost a year, this blogger have been concerned with the declining tax revenue despite Royal Customs delivering beyond expectation under its new and lady Director General. The percentage decline heard to be about 15%.  

BJP continues to be under pressure

From Pakistan and Bangla Desh, might as well touch on the latest happening in Indian politics. It should be on Malaysia's watchlist for many reasons beyond Anwar recently reestablish relation after cold relation between Mahathir and Modi. 

India is a member of BRICS, Shanghai Cooperation Organisation, Quadrilateral Security Dialogue (QUAD), IPEF, Northern Sea Route. etc. Increasingly, India is a regional power with a millitary cooperation with Indonesia.  

The ruling Bharatija Janata Party of India won the general election conducted from April to June 2024, but Modi only returned as Prime Minister for the third time with 293 seats of the 543 seats Parliament as a coalition government with the Telugu Desam Party of Andhra Pradesh and Janata Dal (United) of Bihar as two main allies.

The grand old Congress Party of India seemed to regain a foothold back in Indian politics. According to Wikipedia, "The INDIA coalition outperformed expectations, securing 234 seats, 99 of which were won by the Congress, garnering the party the official opposition status for the first time in 10 years."

The Malay Mail Online reported two days ago below: 

Modi’s BJP projected to lose two crucial state elections in India to opposition Congress

Strategic outreach to Pakistan and Bangladesh

Letters 

Star Online Monday, 07 Oct 2024

PRIME Minister Datuk Seri Anwar Ibrahim’s just concluded visits to Pakistan and Bangladesh might have slipped under the radar for many Malaysians. An honorary doctorate and a highest state award conferred notwithstanding, these trips weren’t as headline-grabbing as his recent engagements with China, Japan, or Russia.

And if you’re looking at the trade figures, they pale before those of other nations. In 2023, Malaysia’s total trade with Pakistan stood at RM7.84bil, and with Bangladesh at RM12.7bil – combined, it’s less than what PETRONAS makes in a month.

But focusing on trade figures alone would miss the bigger picture. 

Pakistan and Bangladesh matter far more to Malaysia than the statistics suggest. Both countries hold immense potential for Malaysia, although decades of political strife and external challenges have kept them from realising their full promise.

From Bloomberg to Murray Hunter, how to misled public with false claim

According to Dato Lokman Nor Adam, Bloomberg became the spokesman for Tun Daim and his wife Toh Puan Naemah to create a false claim that MACC were instructed by the Prime Minister to investigate him and his wife. [Go to his FB here and here]

Its obviously another of Daim's delay tactic to buy time from making his asset declaration. The old man has not exhausted his bag of tricks. Its a matter of time he will resort to claim of suffering from serious mental health to evade trial. 

An old trick was to have foreign media float a claim and other media viral the media report. In this case, the wife make a police report as though it is the truth that vindicated them. 

One wonder why a so-called credible foreign media willing to be an accomplice to cover up alleged crime?  

Whether Bloomberg was in cahoot with Daim or not, they misled other media to report YTL Chairman  accompanied Agong in the recent China official visit to negotiate with China for funding to revive Najib's MyHSR project. 

A local business portal and of all, a reputable international relation portal bought into Bloomberg spin hook, line and sinker. Rocky Bru was amazed with Bloomberg's ability to use the word "alleged" to misled other media and cast a bad aspersion of the King. 

There is a list on when media lie by using certain phrases. 

"Maju Johor" gear up for JS-SEZ

Throughout the Bukit Mahkota by-election, one can hear Johor Menteri Besar repeating the new tagline for Johor, "Maju Johor" as the state prepare itself for the game changing Johor-Singapore Special Economic Zone (JS-SEZ). 

Dato Onn Hafiz spent much time campaigning at Bukit Mahkota to take the opportunity to hit home to Johoreans that the state will not be the same anymore. They should not be left out of the opportunities that will present itself. 

Already there is a strong interest for JS-SEZ in Singapore with 93% of traders are up for it. 

Self serving political rhetorics of Dr Mahathir against Singapore are a thing of the past. His personal bad experience as Medical student in Singapore should not continue to be a stumbling block to Johor anymore. 

The DAP ceramah finale tonight near Kluang Public Bank would be interesting to observe

The video plea by Liew Chin Tong to DAP voters to vote BN candidate for DUN Mahkota in Kluang encapsulate the need for them to cast aside the petty political spat between Teresa Kok and Dr Akmal Salleh and vote the BN candidate Syed Hussien for the economic interest of the nation and indirectly the Chinese community.

It is the same motivation that this blogger cast aside past partisan differences to put the economic priority of the nation in facing the challenging period to the nation and now second economic lift-off that will benefit Johor immensely.

Will DAP voters base do so and make effort to take leave to return from Singapore to vote in Kluang for BN tomorrow?

Sri Lankans reject the Rajapaksas for leftist President

Marxist political outsider takes oath as new Sri Lanka president as voters reject establishment parties

Dissanayake’s win represents a dramatic elevation in the fortunes of his left-wing JVP party

Independent o Mroosha Muzaffar o 1 day ago 

Anura Kumara Dissanayake, a Marxist-leaning politician and leader of the People’s Liberation Front – JVP or Janatha Vimukthi Peramuna – has been sworn in as Sri Lanka’s new president after winning the election with 42.31 per cent of the vote.

On Monday morning, he pledged to address the country’s complex challenges, restore public confidence in politics, and tackle corruption. Mr Dissanayake, 55, led the Marxist-leaning National People’s Power coalition and secured victory over opposition leader Sajith Premadasa and 36 other candidates in Saturday’s election.

He garnered 5,740,179 votes, while Mr Premadasa received 4,530,902 votes, and has pledged to work with other parties to turn around Sri Lanka’s severe economic troubles. “We have deeply understood that we are going to get a challenging country,” he said in a brief speech after assuming office on Monday. 

“We don’t believe that a government, a single party or an individual would be able to resolve this deep crisis.”

His victory follows a period of both political and fiscal turmoil that led to former president Gotabaya Rajapaksa’s resignation amid mass protests in 2022. Mr Rajapaksa fled the country and was replaced by his prime minister Ranil Wickremesinghe, who also ran in Saturday’s election but finished a distant third.

Is the West really threatened by BRICS?

That is how the above documentary sounded. 

Generally, the following video is the western attitude to the dedollarisation trend that is in play as it is revealed recently that Japan, China and Saudi Arabia are reducing their dollar holding to buy gold.

Ceterus peribus? Everything remain the same? Or its just putting up a bold front?

As a debtor nation dependent on other nations to hold reserves in US dollar or their government bonds to finance their US$35 trillion debt in which servicing the interest itself is US$1 trillion a year, they cannot afford to be arrogant.

Agong's China visit: Local portal echo US, S'pore media against national interest

His Majesty the DYMM Seri Paduka Baginda Yang Dipertuan Agong, Sultan Ibrahim returned safely from a successful 4-day official visit to China yesterday. 

South China Morning Post and Star Online reported Agong in tears expressing gratitude to China for the treatment provided to the departed prince, Tengku Abdul Jalil. 

Local media emphasised the improving bilateral relation between China and Malaysia, in which the last visit by an Agong was in 2014. Sadly, a local business portal chose to do third party reporting purely based on "Reuters .... has alleged" and insinuate the visit as a private business trip by Agong. 

The business portal, by a publishing company established since 2019 with several known publications in the market and boasting a string of accolades, should have done their homework, not blindly follow American and Singaporean narrative, and put national interest as priority.    

A Pakistan media, Express Tribune (below) had better sense and could appreciate the key takeaway of this visit:

Ringgit, Harris lead, Biden's hand in glove, Hitech for NIISE

Notice not much conversation on the latest development in the critical national semiconductor industry except petty social media comment blaming the government for Intel Penang layoff. 

So obtuse is the political mindset on economic matters that the need to scribble something on Monday Maulud Nabi holiday. Economics is the blood vein and backbone to peoples' livelihood. How could Malaysian polity be so economically illiterate?   

Situation is more complex. This morning's paper talked of "Ringgit outlook tied to rate cut and Trump win". What the hell is media thinking?

Ringgit outlook is yesterday's news. It already closed at 19 month high as of yesterday at 3.267. Overshot end of year forecast, made several times - early this year and middle of last year. Time to talk of the implication of the present level of Ringgit. Can it stabilise and sustain there. 

The discussion did touched on the impending Fed rate cut. 

Chip war and volatile semicon market: Will it affect Malaysia?

Back in June 2024, business media was prepping the market and public with optimism on the back of stellar performance of the Malaysian semiconductor industry. Maybank's blog report started with the opening line:

Amidst persistent geo-political tensions, Malaysia's semiconductor industry stands as a beacon of growth, poised to seize a substantial share of the global market, projected to reach a staggering USD$588 billion with a 13% growth trajectory this year.

A lecturer and Senior Manager for InvestPerak was all praises for the National Semiconductor Strategy announced by Dato Seri Anwar Ibrahim at an event that month. 

However, off-late tech stocks have been taken a beating in the market on Wall Street and Bursa Malaysia since the Yen carry trade driven sell-off early in the month. For one, the incumbent darling semiconductor stocks, Intel having been on a reversal trend to the other rising semiconductor stocks. 

The new darling, Nvidia have taken a tumble due to some anti-trust issues, a usual front for corporate battle in the US. 

In addition, both Donald Trump and Kamala Harris are campaigning to revive manufacturing sector in the US to compliment the sanction strategy imposed on China. The globalisation promoted by Clinton and Obama doing a reverse due to geopolitics. 

This could have an impact on Malaysia and the layoff by Intel Penang, though an Intel problem, is seen by certain business and stock investor as prequel to a pullout.   

YTL do not qualify for Johor's ART and other PPP projects

ART prototype in Kuching

On Monday September 9th, Dato Seri Anwar Ibrahim unveiled PIKAS 2030 or Public-Private Partnership (PPP) Masterplan, It aims to boost governance and management of projects under PPP framework or in the decades used parlance, privatisation.  

There will be more competitive bidding, transparent and merit-based to ensure good governance, free from corruption, and high standard of management. The "whole nation" approach will be used to build a progressive nation approach for all.

Taking that into account, then companies with a poor track record of governance, having their past unraveled and implicated in court cases should not be allowed to participate in any PPP projects. 

Any  application and bid put on hold pending investigation or revelation in court proceeding. Only then PMX seriousness for governance not taken lightly. One such company is YTL. 

YTL's bid for Johor's ART or MyHSR should not be considered, especially with the age old 1Bestari.net controversy is a hot conversation on social media and among the knowledgeable public. 

Their takeover of Ranhill should be reviewed by UKAS and government.

Fed Chairman should be fired for leading US economy to recession

President Reagan's former Economic Adviser, renown American economist Prof Steve Hank expressed his dismay with the inability of the present Federal Chairman Jeremy Powell in handling the inflation problem.

It is likely to steer the economy towards a recession. View this podcast as he lamented Powell is not economically trained but as Wikipedia revealed he is a lawyer with political science as his first degree.

Political skill and being legalistic for consensus building is not the right qualification. His expertise must be in the subject matter and like the legendary Paul Volcker, Fed Chairman should have economic instinct to anticipate economic development.

Thought only Malaysia is obsessed to place those in the supporting role of organisations such as lawyers and accountants in leading roles as CEO or Chairman.

From yesterday's Trump-Harris debate, Trump's idea of effective leadership is to fire the incompetence. Fed Chairman have been warned thus should be fired. 

In the meanwhile, market is jttery with the prospect of recession in the US. Star Online published the following Bloomberg report yesterday:

While Trump-Harris still debating, analyst expect Malaysia benefit a Trump win

They are still slugging it out live in Philadelphia on ABC News. In the meanwhile, a Fund Manager shared the following impact of a Trump Presidency in brief: 

Potential impact of Trump Presidency 2.0 on trade 

➡️ Trump is suggesting universal tariff of 10% for all goods imported to US

➡️ Trump is also suggesting tariff for imported China goods of 60%

Kamala predicted to win, What to expect?

Four days ago, the renown election predictor Prof Allan Lichtman was reported below by USA Today:

WASHINGTON - Allan Lichtman, the historian who correctly predicted the outcome of 9 out of the 10 most recent presidential elections, has made his guess on who will reclaim the White House this year.

Spoiler alert: it’s Vice President Kamala Harris.

Lichtman said in a video, first reported by The New York Times, that he based his prediction on thirteen keys or “big picture true-false questions that tap into the strength and performance of the White House Party.”

Read on HERE. 

Kamala Harris is still tie with Donald Trump in a recent poll at the must win swing state of Pennsylvania.

Since we did an article on possibility of a Trump win, Lichtman's prediction made it necessary to analysis the possible policies of Kamala and its effect on the region. 

UMNO need to find its relevance

In the Barisan Nasional circle, often discussed in conversations is the relevance of MCA. 

Till the next political shift, majority of Chinese voters are backing DAP to represent them. MCA is left with two seats in Malay-majority Parliamentary constituencies. Meanwhile, barring anything untowards, MIC is left with only the Deputy President's Tapah seat.

Be that as it may, the future is not so assured for UMNO as well and the caution was thrown at the recent UMNO General Assembly. The surprise win at the Nenggiri by-election and confidence leading to the Bukit Mahkota by-election does not assure a lasting one. 

Though Zahid meant as BN would be deemed irrelevant should PH form a unity government with PN after GE15, UMNO's relevance has entered the vocabulary. 

They cannot fail to reinvent themselves and find the right positioning in today's politics. 

Joceline Tan still see a bleak future for UMNO as she dwelled on the future leadership of the party. In a feudel party like UMNO, weightage on leadership as the determinant of success is more. 

Such is it that there is a faint hope for Najib to revive the party. By the time he finally get released and back in mainstream politics, will the channel of young voters that threw him out not in their prime and generational change politics has taken place?  

Its happening everywhere. That the diehards refused to face the eventuality.    

Merdeka and Nation building: Ideological or practical?

Every year during the Merdeka to Malaysia Day celebration, one will hear the repeated debate over the date of Merdeka, Merdeka is only for the Peninsular states, and this year, a new debate: Is it National Day or Merdeka Day?

From the Sabah and Sarawak side, a new one surfaced. A history Professor claim their independence is sometime in 1945. Jeffrey Kitingan used the occasion to rant over addressing Sabah as a state. More to be heard approaching Malaysia Day.  

Oh boy, good thing Johoreans did not bother to gloat of their history of never formerly a colony of Britain. As sovereign, it had embassies abroad in as far away as European capitals. 

These are all talking of the past. Needed is introspection into the present and set foresight for the future. Being correct merely gives a false sense of national or state or racial pride. 

Its a matter of different forms, but the reality was all states in Semenanjong, Sabah and Sarawak were British colonies. All were poor! 

Better be practical and address the problems of nation building.

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.