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Thursday, February 20, 2014

APANAMA graduated to .my


Thank You

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Tuesday, February 11, 2014

Red flag from the lackey

Malaysia risking credit downgrade with toll hike U-turn, warns Credit Suisse

FEBRUARY 10, 2014

Credit Suisse described Najib’s decision to hike price of fuel, sugar and electricity as a way to assess further cuts as a 'cunning' move by a government that needs to rein in its chronic budget deficit. — Reuters pic

KUALA LUMPUR, Feb 10 — Datuk Seri Najib Razak has been warned against any major U-turn of his financial reform measures such as his government’s hesitation on the unpopular toll rate hike, as this may risk further downgrade on Malaysia’s debt rating, Credit Suisse has warned.

According to the financial services provider, more such reversals on austerity policies would only keep Malaysia under the spotlight of credit rating agencies, and cause foreign investors to flee the government bond market.

“Rating agencies are watching PM Najib to assess his resolve in the unpopular, but critical policy of reducing the fiscal deficit. The apparent U-turn on toll rate hikes is a red flag,” Credit Suisse warned in its daily report on Asia here.

“A major U-turn could cause a rating downgrade. In a rising interest rate environment, foreign investors would then sell their huge bond holdings.”

Credit Suisse described Najib’s decision to hike price of fuel, sugar and electricity as a way to assess further cuts as a “cunning” move by a government that needs to rein in its chronic budget deficit.

However, Najib’s cunning has been undermined by his fellow Umno member’s political opportunism, it said.

It cited as example the recent announcement by Deputy Prime Minister Tan Sri Muhyiddin Yassin that Putrajaya will freeze toll rates in 2014.

“Sadly, some within PM Najib’s party appear to have opted for very short-term gain, ignoring the logic and the long-term pain,” said Credit Suisse.

“Does PM Najib have the will to see this austerity through? The rating agencies are watching.”

Should rating agencies downgrade Malaysia and foreign investors abandon government bonds, it predicted that Malaysia’s stock market and ringgit will collapse, in a worst-case scenario.

Despite that, the report said it was merely highlighting a risk, and it was not Credit Suisse’s house view.

Putrajaya has embarked on a series of subsidy cuts starting from September last year, which included an increase in fuel pump price, sugar, and electricity tariffs.

Postponed prior to Election 2013, the so-called subsidy rationalisation programme was resumed after ratings firm Fitch Ratings slashed Malaysia’s sovereign debt outlook from “Stable” to “Negative” in July.

The price hikes however has caused public anger, which culminated in an anti-price hike rally attended by tens of thousands of Malaysians on the New Year’s Eve. - The Malay Mail

Going through the above article reminds me of the 1997/98 Asian financial crisis and how we were basically held at ransom by the speculators, financial service providers, rating agencies, the IMF, World Bank and a host of other daylight robbers who had an eye not only on our assets but also the Prime Minister's seat in Putrajaya. 

During the crisis of 1997/98 those band of robbers had a lackey embedded deep or rather very high up in our administration that he almost made us bankrupt overnight. Many a businessman couldn't possibly have forgotten the atrocious interest rate hikes which killed and/or paralyzed many. Some are still living with those scars today. 

It was a similar scene when those institutionalised robbers were imposing all kinds of reforms, threats, warnings and red flags. The lackey did briefly lead us along the path of destruction until the timely intervention of the then Prime Minister and his able financial advisors. 

The lackey was in the Government then but his immoral venture was cut short and he was thrown out of the Government for his other equally immoral traits. 

We faced the financial crisis in our own way and prevailed without having to squeeze our people of their blood, by hiking interest rates, drastically removing subsidies and embrace unbridled 'reforms'. 

Do we now have a similar lackey or a band of lackeys who are dispensing the IMF-like bitter pills to the Government without any real regard to situation on the ground? 

Who are the lackeys and what is it that they're eyeing for this time around?

p/s Credit Suisse should first make up their mind if the 'red flag' is indeed their report or NOT before issuing such IMF-like warnings that smacks another financial conspiracy.  Credit Suisse' professionalism is certainly going further down the drain.

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Sunday, February 9, 2014

MALAYSIA's healthcare is among the best and cheapest in the world

A recent report finds France, Uruguay and Malaysia rank as the top three countries that provide the best and most affordable healthcare in the world.
France comes in first, finds InternationalLiving.com’s annual Global Retirement Index. This is because many French healthcare professionals in major cities speak English, and France has both public and private-sector healthcare. The public healthcare system is available to those who pay, or used to pay, into France’s Social Security system. This system offers excellent benefits, paying the bulk of the cost for a range of medical services that includes doctor’s visits, hospital stays and prescription medications.
The private healthcare industry in Uruguay, which comes in second, consists of a number of independently operated healthcare organizations. They vary in size from a single clinic to networks of hospitals and clinics.
“The most popular private healthcare option in Uruguay is a ‘hospital plan,’ whereby you make monthly payments directly to an individual hospital or network that provides your care; everything from routine check ups to major surgery. The cost is extremely low compared to private healthcare options in the U.S.,” says David Hammond, InternationalLiving.com’s Uruguay correspondent.
In addition to hospital plans, there are private health insurance companies, including Blue Cross and Blue Shield of Uruguay, that provide a broad range of insurance plans.
Malaysia placed third. It has gained fame as a medical-tourism destination as its healthcare is among the best and cheapest in the world. Medical expertise here is equal to or better than what it is in most Western countries.
“At this time, foreigners cannot access the public healthcare system here, but the low cost of healthcare and the range of health insurance options, means that paying for healthcare is no hardship,” says InternationalLiving.com’s Asia correspondent, Keith Hockton.
“Healthcare costs are so low that you can pay out of pocket for many standard procedures. A regular doctor’s visit costs $16 and a dental check-up costs $9,” he adds. - ADVISOR.CA

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Thursday, February 6, 2014

Master of the game, not a paymaster.

Once again the rumour mill appears to be on overdrive, discussing Pehin Sri Abdul Taib Mahmud's impending resignation as Chief Minister of Sarawak. 

The Parti Pesaka Bumiputera Bersatu president and state Barisan Nasional chairman is said to be wanting to step down and that he had called for a meeting to discuss this with both his party leaders and the bigger BN family in Sarawak.

Pehin Sri Taib will turn 78 on next May 21. He is still as fit as a fiddle and enjoys a razor sharp mind. While his detractors are busy with their politics and polemics, Taib has been busy charting the future of Sarawak. 

The success of Sarawak Corridor of Renewable Energy (SCORE) and its spinoffs, both economic and social, is top most in his list of priorities. 

Who succeeds the grand old man has always been a concern among Malaysians because Taib's shoes are too big to be filled by just any other politician. 

Abdul Taib Mahmud is to Sarawak like what Tun Dr Mahathir Mohamad is to Malaysia. 

Many have learned, some the hard way, that it is impossible to dictate or read Taib. His focus and greatest concern is how best to ensure peace, stability and the prosperity of Sarawak. 

Certainly there are untold fears that the current racial-religious polemics, especially the brand of politics of hatred in the peninsula, could threaten the social fabric of the truly multiracial/multiethnic/multireligious 1Malaysia society of Sarawak. 

Taib is not a populist by any means but an old school politician who believes in discipline and loyalty. He has served all the Prime Ministers of this country, managing a cordial trustworthy relationship even at the worse of times. 

Sarawak could be the richest and the best managed state in the country but Taib doesn't flaunt the state coffers with handouts for political patronage. Ask any of his party leaders and members and they will relate to you the level of discipline in PBB. 

Many, especially the Opposition, will have ghost-stories to tell you about the lawyer who had once served as the Judge's Associate in the South Australian Government but each and every one of them will not be able to substantiate their tall tales about the man. 

So, who in the right frame of mind would think and/or believe that Taib Mahmud would let you dictate his next move or course of action? 

Taib is the master of his game, not a paymaster. 

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Tuesday, February 4, 2014

Perak PKR state assemblyman QUITS? - UPDATED

It has been brought to my attention that the 'resignation letter' purportedly sent by YB Kesavan is fake. Kesavan has denied sending the letter.

I hope YB Kesavan will step forward to explain this 'fake' letter soon. We want to know if:

1. The letter is indeed fake; or

2. Is it a genuine letter with Kesavan's original signature but was 'leaked' to the State Assembly Speaker by persons known to the YB?

Please clarify YB!

Earlier posting:
Hutan Melintang state assemblyman YB Kesavan has QUIT  (w.e.f 2nd Feb 2014) from PKR. His notification was received by the Perak state Speaker's Office earlier today. 

YB Kesavan's letter says it very clearly…"Hilang kepercayaan dan tidak berpuashati terhadap kepimpinan parti terse but'. (he has denied it now)

I was told that a few more Pakatan Rakyat Members of Parliament and State Assemblyman are expected to follow suit and become independent elected representatives following PKR's dirty politics in Kajang. 

Well, guess its normal for those who have some form of self respect to walk away when you (the party and leadership) don't walk the talk. 

Let's watch this dimension of Rafizi's 'Kajang Move' very closely. 

p/s Kesavan just joined is yet to join the ever growing club 

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Wednesday, January 29, 2014

Who Let the Dogs out?

I just know who is feeding the dogs… ;-) 

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Tuesday, January 28, 2014

Halal or HARAM ?

What happened to those often loud, holier than thou DAP politicians? 

Dear Karpal Singh, Lim Guan Eng, Lim Kit Siang and all your ilk, what is your stand over this latest PKR act of orchestrating a by-election in Kajang? 

Ustaz Nasrudin Hassan Tantawi of Pas says it is HARAM. What say you?

I'm sure many Malaysians would expect the always righteous DAP chairman, Karpal Singh, to enlighten us if this latest antic of Anwar Ibrahim and gang is halal or HARAM.

Could be a different matter but I'm sure the values are the same.  Moral or totally immoral?

You think still got room for taubat kah Mr Chairman?

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