Saturday, December 30, 2023

Dream on Dubai Move, Political stability is royal agenda

His Majesty Agong returned from Dubai. Although there is talk that the Sheraton Move team attempted a Dubai Move in pursuit of his Majesty, that talk makes no sense.

Dorairaj Nadason column in the Star today entitled "With stability, 2024 has a promise" mentioned neither current nor upcoming Agong will tolerate another destabilising change of government.

Heard Agong was the stumbling block to Shafie Apdal and Bung-ok Mokhtar's Kinabalu Move to topple GRS. failed.

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Thursday, December 28, 2023

Trade recovery for Asia?

My Say: We can look forward to a recovery in Asian trade

By Manu Bhaskaran / The Edge Malaysia

17 Nov 2023, 11:30 am

East and Southeast Asia rely heavily on exports to generate growth, which is why the past year has been a miserable one for Asia’s major trading nations. Had it not been for the post-pandemic release of pent-up demand in their domestic services sectors, Asian economies would have probably entered a recession.

Global demand had softened as geopolitical troubles, the steepest interest rate hikes in decades, a downturn in the electronics cycle and China’s faltering economy all took their toll. The proliferation of shocks, several of which came out of the blue, has undermined business confidence around the world. As firms became more cautious and cut back on hiring and capital spending, demand suffered and inevitably the trade demand also faltered.

However, there are now signs that a recovery is already taking shape and next year could see a decent upturn in demand for Asian exports. That should give the region’s economic growth a much-needed boost. Of course, this is all contingent on there being no further political or financial shocks. Taking stock of these potential headwinds, our overall view is that the worst effects can be contained and that we should not be overly pessimistic.

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Monday, December 25, 2023

Mahathir's last Christmas ...

Tun Daim's Ilham Tower was seized by MACC for investigation into corruption and money laundering. The talk is Daim refused to declare fully his assets after being given fair time with several extensions.

Under Section 32 of  the MACC Act, the refusal to cooperate is tantamount to offenses and the undeclared properties, local and abroad, could be seized.

Apparently the social media is a buzz with claims that the bulk of the RM2.7 billion property was self funded by the owner. Media reported many properties and asset will eventually be seized.

Many years ago, Daim claimed he is unperturbed by any investigations. He had undergone it under three past Prime Ministers and came out clean.

Daim side have been sending people to hint threats that he will retaliate either causing market to depress or economic sabotage or escalate his planned coup d'etat in which he is unafraid to spend.

He holds cash and financial assets, but was never interested to have a grip on the economy by holding on a long term basis of any businesses. 

Over the decades, his unscruplous dealings has built a legion of haters and an army of corporate enemies. He is not fighting just Anwar and MACC.

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Thursday, December 21, 2023

Clare Rewcastle stop tailing when Lee Kim Yew in the picture?

Back in 2018 in the midst of the 1MDB debacle, Sarawak Report's Clare Rewcastle Brown kept highlighting an EPF Executive by the name of Ja'afar Bin Rihan in her pursuit of Dato Seri Najib Tun Abdul Razak. 

Clare found worldwide fame in her 1MDB expose from 2015. She faced many sceptics, trials and tribulation for her speculative investigation. By the time Najib was sentenced to prison for SRC, she feels vindicated. 

Perhaps, it is too soon.

The 1MDB-Tanore case is struggling in court with the key witnesses namely; the police IO and BNM analyst statement in court indicate it was an insufficiently investigated case. Prosecution lost the Audit case and indication AG should throw out the RM6.6 billion CBT against Najib and Irwan Serigar. 

The civil suit by 1MDB will be a non-issue with the integrity of Rosli Dahlan in doubt. If another SRC case for RM27 million this time, Zeti can be drag in and Najib has the oft chance of being vindicated. 

While Clare is not quite fully vindicated, she still need to raise money to pay the Sultanah of Terengganu. And her expose on Ja'afar cannot be another financial liability because he made police reports.

Meanwhile, Ja'afar has moved on from EPF to LOFSA. Talk in the market is that "bankrupt-ed" crony or an open secret he is proxy or fall guy for Dr Mahathir, Lee Kim Yew will be getting a Labuan banking license. 

Why is Clare silence on this development?  

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Tuesday, December 19, 2023

Cabinet reshuffle: Reaction comment to Joceline Tan

Been under the weather lately - rather weak and disoriented from abstaining a daily prescription. Quarantine to be over soon. With the irritating migraine began to clear, see a need to comment on last week's cabinet reshuffling. 

Since it involves politicians and political parties representation, naturally comments on the cabinet reshuffle tend towards deciphering the political manouvering. 

The other side find fault and in their motivation to do so, they lied. Views from the likes of Fadhli Shaari, Wan Saiful Wan "Jana Wibawa" and Khairy are irrelevent in the bigger scheme of things. 

Unfortunately the so-called independent views from journalists, columnists, and commentaries suffer from lack of appreciation of governance.

Whilst, those too academic and focus on governance refuse to appreciate the real politik. The art of political balancing is necessary, because for a Unity Government with large membership of political parties, representation cannot be ignored.

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Friday, December 8, 2023

For 22 years + 22 months, why Kubang Pasu's "Malay" padi farmers still earning RM600 per month?

Tun Dr Mahathir is visually and vocally active again advocating to topple yet another government not to his preference for reasons obvious to all and many. 

Mahathir met Isham Jalil few weeks ago and likely to have recruited him into his fold since Isham was caught in discussion publicly with his henchman Khairuddin Abu Hasan and admitted to have met him several times. His criticism of UMNO was in unison with Mahathir and certain PAS leader. However, the go-between man between him and Mahathir is someone else. 

The latest development surrounding Isham gives the impression Najib is cooperating with Mahathir, but that is affirmatively not true and in contradiction. 

It is also not true the Mahathir's claim that Najib was involved in the Sheraton Move to topple the Pakatan Harapan government he led and instilled Muhyiddin as Prime Minister. He made the claim in The Star interview last year October leading to GE15th in November. 

In the interview, he claimed Najib and Pakatan Harapan is uninterested to look into the affair of the Malays and since the interview, Mahathir moved away from his true capitalistic and liberal true self to unsheath and wave his past Malay ultra keris again. 

Many have fallen yet again to his deceitful intention. Before immersing further into his self serving rhetorics, lets not get complicated and extensive to analyse or come out with examples to come to his defense. 

Ask what has he done for the common Malays' wellbeing since participating in the general election of  1969 as indicated by the RM600 per month average earning of padi farmers in his constituency of Kubang Pasu at a time foreign workers are assured a minimum wage of RM1,500 per month?

That is 54 years and compare that with rubber tapper at privately owned estate that earned net net RM800 per month in the 70s! 

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Thursday, December 7, 2023

Moody's negative on China and it's implication

Moody's puts China on downgrade warning as growth, property pressures mount

Reuters December 6, 2023 5:15 AM GMT

Dec 5 (Reuters) - Ratings agency Moody's slapped a downgrade warning on China's credit rating on Tuesday, saying costs to bail out local governments and state firms and control its property crisis would weigh on the world's No. 2 economy.

Moody's lowered the 'outlook' on China's A1 debt rating to "negative" from "stable" less than a month after it had done the same to the United States' last remaining triple-A grade from a credit rating agency.

Historically, about one-third of issuers have been downgraded within 18 months of the assignment of a negative rating outlook.

Beijing likely needs to provide more support for debt-laden local governments and state firms which pose "broad downside risks to China's fiscal, economic and institutional strength," it added.

Moody's also cited "increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector."

China's Finance Ministry called the decision disappointing, saying the economy would rebound and that the property crisis and local government debt worries were controllable.

"Moody's concerns about China's economic growth prospects, fiscal sustainability and other aspects are unnecessary," the ministry said.

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Monday, December 4, 2023

And, then the game changed?

The political excitement in November was PN MPs switching support to PMX. PN was taming the build-up in perception that PPBM is breaking apart, PAS imposing their will, and Muhyiddin on the way out. 

Suddenly Zahid Hamidi was reported to undergo surgery for a serious illness and Raja Petra stated a perception play that Hishamuddin will takeover leadership of UMNO to pullout of the Unity Government and switchover enbloc to PN.    

Then came Kemaman by-election and Dato Dr Samsuri's victory by more than 37,000. Suddenly, the conversation is of him as PAS candidate for PMXI to replace Anwar Ibrahim sooner than GE16.

How the game changed so fast. But has anyone asked if the realisation of the Green Wave dream be for the better?

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Friday, December 1, 2023

All not lost ... If Malaysia can get its act together

Malaysia might just surprise on the upside

By Manu Bhaskaran / The Edge Malaysia

28 Nov 2023, 11:30 am

As Prime Minister Datuk Seri ­Anwar Ibrahim celebrates his first year in office, it is a good time to take stock of the country’s prospects. Looking over the past year, what strikes us is how Malaysia has emerged from a period of extraordinary difficulties relatively intact and with reasonable hopes for doing better in the near term. This view does not underestimate the many difficult legacies from the past that need to be fixed, nor does it disregard the challenges that the current government faces in bringing about necessary changes.

For us, the question is not whether all the reforms that many hope to see can be achieved, given the real-life challenges of governing a complex country in a turbulent world. The question is whether enough good can be done to put Malaysia on a much better trajectory. The answer seems to us to be a clear “yes”.

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