Wednesday, September 24, 2008

RM125 Billion has flown, and the worst is yet to come

"In 2008 already over RM125 billion has been withdrawn from the country by investors weary of a government that has failed to implement a single reform to ensure judicial independence and that continues to use draconian laws such as the ISA to detain its citizens without due process of law." - Anwar Ibrahim [Opp leader denies talk with PM - Malaysiakini 24/9]
Is that why the PM decided to hand over the Finance portfolio to Najib Razak? Perhaps. But Anwar must take some of the credit for the capital flight. All the talk about his democratic coup - about 916 and defectors from BN - has chipped away investors' confidence, too. We all know about the flaws of the Abdullah Administration (why do you think March 8 happened?) but more than half a year after the General Election, has Anwar's Pakatan Rakyat gone far beyond lip service? Read A Lot of Empty "PR" Talk So far by Mana-Mana, 24/9.

The world economy is already bad as it is, and we can expect more investors to pull out from Malaysia because of their own problems, at home and elsewhere. The worst is yet to come. And here we are!

I am glad that DSAI has decided to drop the deadline games [Anwar drops deadline for government takeover, The Star 24/9] and be more subtle with his coup attempt. I pray the court throws out the sodomy charge against him and let him the peace of mind to focus on being an effective Opposition leader. Malaysia needs one, especially now.

56 comments:

demozilla said...

Bro

I wonder if investor around the world look at human right, judicial independence and ISA thingy when they invest billions and billions in China.

Do china 10x better in human right and better democracy than Malaysia?

Think about it.

Anonymous said...

Rocky ah rocky,
we do not know whether DSAI is guilty or not, only he and the alleged victims know, so we let the law take its course. Sometimes i believe we should be neutral when it comes to things that we are not sure instead giving opinions that make us look like we are being influenced, this is especially true to self proclaimed "free minded" bloggers like u.

Anonymous said...

Anwar is finished ... he will be in for 20 years.

SB - SInar Bulletin

ChengHo said...

dsai should start taking his role as an effective opposition leader now ,forget about his dream to become pm if you are good you are good see you at PRU 13. the world economic is in a very bad shape now within a few month it will reach malaysia ,no country will be isolated by this economic tsunami , again and again look at singapore strategy.

agnos said...

yo bro - i beg to differ on your opinion that dsai must bear some of the responsibility of the capital flight.

i think the reason investors are moving away from msia is due to a combination of bad world market condition and a lack of initiative by our present government in providing the investor a reason to stay on.

Badawi has been there for more than 4 years and all he did was to increase prices - does this help business?

He has open corridors after corridors but is there a transparent plan on how he is going to award these projects?

He has promised reform after reforms - did it materialize?

Anwar only come into play during the recent election - and that was less than one year ago - .

Big businesses dont just decide to uproot and go somewhere else - it will have to be planned out strategically maybe 3/4 or more years ahead.

The last i heard - government policy towards investor has not change much. This has always been the gripe of foreign investor - there is no level playing field. Look at Digi, look at the award of 3G, Wimax, Wifi etc...

AFTA is here and gone yet We are still forced to buy cars twice the actual world price and the APs King is still laughing all the way to the bank .. (though one of them is gone.)

Proton is still in infancy stage needing support and protection after all this years.

that's why and i am not trying to defend dsai - i dont think the capital flight is "partly" a result of him boasting to take over the government. his boast was only recently.

however, i would agree that he may have affected new investor who would prefer to wait and see but for existing one who prefers to uproot now? no i dnt think so.

profit said...

Dear Rocky,
Knowing Anwar I do not think he is dropping the deadline.He is a persond who needs things going on all the time,furthermore with the support he is getting, do you think he wants to stop the adrenaline that has been injected into the veins of PR members?He will come out with other crazy ideas of making the mood swings to his side.

Guan Sin aka Pratamad said...

How flawed is your logic by blaming Anwar for the capital flight??? If the BN government is indeed stable and in majority, would the investors, most probably well informed of world developments, including Malaysia's, have believed whatever Anwar has claimed and withdrawn at a cost to themselves? On the other hand, with such an apparently minority government, even without the talks of Sep 16, the same thing would have happened. Zoom in on the root cause pls. Your tone only confirms your slanted journalistic stand. Period.

Anonymous said...

Why do you just pray for Anwar playing his role as an effective leader only? He may not be able to meet his 916 deadline but his ultimate objective clear. Should it not be relegating the present PM or Najid to the role of the Opposition instead? Is that not what the Malaysian rakyat want?
malsia1206

benci tipu said...

tin kosong bunyi kong kang kong kang kong kang bila disepak.. macam anwar berahim!

amoker said...

Fair comment and agree on all front. I like what Gordon Brown says that he is focussed on reviving the economny albeit the internal party politcics and that he will be judged by his work and not his standing in the party.

Real difference between competent leaders and status leaders.

Edi神 said...

125billions,

if najib and badawi take out what they took from the nation.

is more than enough to cover the 125millions.

Lelaki Cantik said...

Yeah Rocky, we need a solid opposition leader who can help steer the ruling government into the right direction and keep the whole ship going!

That's the function of an effective opposition leader and he has an important role in national policymaking albeit from the opposition bench.

I hope we can get past all this silly sodomy whatever and settle down and get to work man!!!

Kevin said...

Politicians practise empty talk - that's reality. To me, this has been confirmed after Anwar has failed in his attempt to take over the govt on 16 Sept. He has also failed to meet the PM when he confidently claimed that the PM would certainly meet him as a friend. I guess he's not the PM's friend anymore. He too failed to reveal (giving excuses) the names of defectors . The latest news is that he's sending a letter to the King for an audience!!

Anwar's credibility has been washed down the drain. People are losing confidence in him; people are agitated as they want the change that they've been promised, and they can't wait for 5 years.

BN, as we all know, are just too strong and influential to just give up so easily. They won't let go not even 5 years down the road. If Anwar & PKR don't fulfill all their promises to the rakyat, if Anwar keeps talking and insetad of showing results, then Pakatan Rakyat will never ever be able to even dream of ruling Malaysia in 5 years' time.

I'm sad to say that I won't see a change yet - certainly not next month or next year. IT's just gonna be one empty talk after another to patronise us.

Mr. Smith said...

He who laughs last laughs best.
Let's wait and see who laughs last.

Better in Time said...

(A New York Times article with a lesson for Anwar and the opposition and ruling party at the very end)

Stopping a Financial Crisis, the Swedish Way

By CARTER DOUGHERTY
Published: September 22, 2008

A banking system in crisis after the collapse of a housing bubble. An economy hemorrhaging jobs. A market-oriented government struggling to stem the panic. Sound familiar?
Skip to next paragraph
Swedish National Debt Office

Bo Lundgren, finance minister during the 1992 crisis.
Add to Portfolio

* Federal National Mortgage Association (Fannie Mae)
* Freddie Mac
* American International Group

Go to your Portfolio »

It does to Sweden. The country was so far in the hole in 1992 — after years of imprudent regulation, short-sighted economic policy and the end of its property boom — that its banking system was, for all practical purposes, insolvent.

But Sweden took a different course than the one now being proposed by the United States Treasury. And Swedish officials say there are lessons from their own nightmare that Washington may be missing.

Sweden did not just bail out its financial institutions by having the government take over the bad debts. It extracted pounds of flesh from bank shareholders before writing checks. Banks had to write down losses and issue warrants to the government.

That strategy held banks responsible and turned the government into an owner. When distressed assets were sold, the profits flowed to taxpayers, and the government was able to recoup more money later by selling its shares in the companies as well.

“If I go into a bank,” said Bo Lundgren, who was Sweden’s finance minister at the time, “I’d rather get equity so that there is some upside for the taxpayer.”

Sweden spent 4 percent of its gross domestic product, or 65 billion kronor, the equivalent of $11.7 billion at the time, or $18.3 billion in today’s dollars, to rescue ailing banks. That is slightly less, proportionate to the national economy, than the $700 billion, or roughly 5 percent of gross domestic product, that the Bush administration estimates its own move will cost in the United States.

But the final cost to Sweden ended up being less than 2 percent of its G.D.P. Some officials say they believe it was closer to zero, depending on how certain rates of return are calculated.

The tumultuous events of the last few weeks have produced a lot of tight-lipped nods in Stockholm. Mr. Lundgren even made the rounds in New York in early September, explaining what the country did in the early 1990s.

A few American commentators have proposed that the United States government extract equity from banks as a price for their rescue. But it does not seem to be under serious consideration yet in the Bush administration or Congress.

The reason is not quite clear. The government has already swapped its sovereign guarantee for equity in Fannie Mae and Freddie Mac, the mortgage finance institutions, and the American International Group, the global insurance giant.

Putting taxpayers on the hook without anything in return could be a mistake, said Urban Backstrom, a senior Swedish finance ministry official at the time. “The public will not support a plan if you leave the former shareholders with anything,” he said.

The Swedish crisis had strikingly similar origins to the American one, and its neighbors, Norway and Finland, were hobbled to the point of needing a government bailout to escape the morass as well.

Financial deregulation in the 1980s fed a frenzy of real estate lending by Sweden’s banks, which did not worry enough about whether the value of their collateral might evaporate in tougher times.

Property prices imploded. The bubble deflated fast in 1991 and 1992. A vain effort to defend Sweden’s currency, the krona, caused overnight interest rates to spike at one point to 500 percent. The Swedish economy contracted for two consecutive years after a long expansion, and unemployment, at 3 percent in 1990, quadrupled in three years.

After a series of bank failures and ad hoc solutions, the moment of truth arrived in September 1992, when the government of Prime Minister Carl Bildt decided it was time to clear the decks.

Standing shoulder-to-shoulder with the opposition center-left, Mr. Bildt’s conservative government announced that the Swedish state would guarantee all bank deposits and creditors of the nation’s 114 banks. Sweden formed a new agency to supervise institutions that needed recapitalization, and another that sold off the assets, mainly real estate, that the banks held as collateral.

Sweden told its banks to write down their losses promptly before coming to the state for recapitalization. Facing its own problem later in the decade, Japan made the mistake of dragging this process out, delaying a solution for years.

Then came the imperative to bleed shareholders first. Mr. Lundgren recalls a conversation with Peter Wallenberg, at the time chairman of SEB, Sweden’s largest bank. Mr. Wallenberg, the scion of the country’s most famous family and steward of large chunks of its economy, heard that there would be no sacred cows.

The Wallenbergs turned around and arranged a recapitalization on their own, obviating the need for a bailout. SEB turned a profit the following year, 1993.

“For every krona we put into the bank, we wanted the same influence,” Mr. Lundgren said. “That ensured that we did not have to go into certain banks at all.”

By the end of the crisis, the Swedish government had seized a vast portion of the banking sector, and the agency had mostly fulfilled its hard-nosed mandate to drain share capital before injecting cash. When markets stabilized, the Swedish state then reaped the benefits by taking the banks public again.

More money may yet come into official coffers. The government still owns 19.9 percent of Nordea, a Stockholm bank that was fully nationalized and is now a highly regarded giant in Scandinavia and the Baltic Sea region.

The politics of Sweden’s crisis management were similarly tough-minded, though much quieter.

Soon after the plan was announced, the Swedish government found that international confidence returned more quickly than expected, easing pressure on its currency and bringing money back into the country. The center-left opposition, while wary that the government might yet let the banks off the hook, made its points about penalizing shareholders privately.

“The only thing that held back an avalanche was the hope that the system was holding,” said Leif Pagrotzky, a senior member of the opposition at the time. “In public we stuck together 100 percent, but we fought behind the scenes.”

TheFireWithin said...

Bro, you got the point crystal clear but then again would the Anwar diehards let you blame the Opposition leader. They would argue it is all BN's fault, mind you not Mr Flippy fault, and that Anwar is the saviour who can solve all woes. Now he says that RM125 billion has flown out. But where did he get that figure. He should explain where he got that figure. Failing which it would be just another Anwar LIE, which he is fond off. Even if the money had gone, then he should, like you pointed out, should share the blame. For the last six months, this man did nothing but talk about Sept 16. The day came and left uneventfully. Now he says he wants to takeover in a subtle manner. My foot! When has Anwar ever been subtle. He never has and never would be subtle. He has to just admit that he has not got enough MPs to start off with. Another point, some argue, is that he is having a very tough time with his counterparts from DAP and Pas, who still do not trust each other.
Pas wants to ensure there are more Muslims MPs if Pakatan Rakyat takeover, while the DAP is having its hands full administering Penang. DAP, a chinese dominated party, now is facing reality of how difficult it can be to run even a state government without federal funding.
Now back to Anwar, can he bring back the monies which had "flown" if he comes to power in this current global economic situation. Or is he going to ask the US to add a few hundred millions in their bail-out plan to help resuscitate Malaysia. Thats a possibility too. Lets not kid each other. I agree that this man called Anwar bin Ibrahim should just concentrate on being an effective Opposition leader and wait for the next general election. Prove your mettle, as they say. He is an untested, unproven leader. Become a good opposition leader first before thinking of running the government. Come out with concrete proposals on the economy, on politics etc. This is the difference between Tun Dr Mahathir and Anwar bin Ibrahim. The "old man" knows what he is talking about as opposed to the de facto leader. That is why Tun has the ears of the silent majority, when Anwar is looked as a mere freak side show. That is why Tun stands tall in the hearts of all Malaysian, even if some ignorant people think otherwise.
May be Anwar knows that he would not have another attempt in forming the government and that this would be his last, pending his sodomy charge. I noticed that all his dates or deadlines is either a day or two before or after he is expected in court. Now the date Oct 17 would become his focul point, since that is the date set for the sessions court to transfer his case to the High Court and obviously, the powers that be are not going to give him another sympathetic judge like Komathy. When the High Court subsequently sets a date for the hearing, he is going to set another deadline, knowing that his bail might be revoked. Thats Anwar bin Ibrahim! If the bail is revoked all hell will break lose. Then Azizah would come to the fore, to say that that the government was scared that he would form the new government, so they sent him to prison. Then the talk of being subtle will vanish in an instant and its back to water cannons!

paddi said...

Hello,how are you...

Anonymous said...

Hooray,,,,!!!!!Lagi banyak Negative figure about Malaysia lagi bagus coz we are bosan Staying in Malaysia,,!!!

Biar LINGKUP the Present Goverment,,Minta-minta the Financial crisis the world facing today,,,,lagi terok Malaysia kena,,!!! Setidak-tidak CIMB ta'takut coz Abang Najis bole bail out,,lagipon bole guna duit PETRONAS,,!!!!

Bodowi & Co,,BLAME Anwar,,lah,,!!!

Pi makan TAHI kuching lagi Bagus,,BODOWI,,,

Cepat-cepat berundur,BODOWI,,,make that as a Hadiah Hari Raya to the Rakyat,,!!!!


-BODOLAGI-

donplaypuks® said...

Rocky

'Anwar should take some credit for the credit flight.'

Why? Should Obama take some 'credit' for the sub-prime, oil and crunch faced by Lehman, AIG and Goldman Sachs? Or is it all Bush's fault?

No! All the credit should go to the BN Govt for an over-bloated Civil Service, fancy operating and development budgets, propping up lame duck GLC's and pump priming at the taxpayers' expenses, directionless economy and tyrannical governance.

That's the reason why many including Malaysian tycoons -I'm sure Bank Negara knows who- have siphoned money out of our economy.

I'll wager that if DSAI takes over the Govt tomorrow, you will see unheard of increased inflow of FDI's into Malaysia.

The World Market is telling you they have no confidence in the Govt of AAB or BN's policies. Don't try and cover it up with smokescreens of all sorts, especially 'dog food!'

http://donplaypuks.blogspot.com

Anonymous said...

Good evening Rocky's Bru

Our elected MPs and especially our government really lack common sense, responsiblity, accountablity, direction in handling their job which we the Rakyat gave to them and the political will to deliver their election campaign promises. The March '08 GE is long gone. To be exact, 1/2 a year.

To-date, they are still playing their political games, manupulative and destructive with total disregards to the economic well being and creditability of our beloved country. They are making a mockery of our nation.

Of course the leadership skills of our PM does not make things any better. His indecisiveness, flip flop and failure to deliver his promises further add to the hardship the Rakyat are facing already. The only thing that the PM is firm about is the deadline for his transition of power. Would he be able to turn the nation around in the next 21 months???

A betrayed Malaysian

Anonymous said...

Well said. Let us buckle down and work through this crisis. Whether the world meltdown will happpen or not is subjected to US congress tonight.

very afraid

Chow Kit Cowboy said...

"125 billion has flown...". That's about US$40 billion.

But yet BNM says our international reserves continue to grow to record levels, RM 400 billion or something like that.

Something don't jive. Is there creative accounting? Is there a time bomb ticking?

BlueMoon said...

"Anwar drops deadline for government takeover"...

So the deception game is finally over. The public can now focus on his sodomy trial. Let see what the hoax and bamboozle this time. Conspiracy, collusion and 1001 theories will definitely be on the table. Only Anwar is capable of doing this.

Anonymous said...

Thank you, Rocky, for this fair and balanced statement.
Hopefully all sides will come together for the good of the nation in these troubling times.

Please, all politicians, listen to us who have no stakes in these political games. We want a peaceful and stable nation, to live and dream, for our children and their children to come.
Please hear us.

A Malaysian

lupo said...

Dear Rocky,
You said,
I pray the court throws out the sodomy charge against him and let him the peace of mind to focus on being an effective Opposition leader. Malaysia needs one, especially now.

Nak close one eye aje bro? Atau you rasa dia memang tak bersalah?Atau perbuatan dia tu tak penting?

I just need to know your stand on this matter.

Thanks.

P/s Usually I don't give my comments but I visit your blog more than 10 times a day and I think you are a cool dude...

Dean said...

Brother Rocky,

Malaysia needs a new PM immediately to replace the present ineffective PM.

Looking at the present governing body...sad to say that I see they are only busy looking at their self interest not the rakyat.

Other countries - recently Israel, Thailand and latest was Japan - their head of state will graciously step down but here in Malaysia our PM is thinking he is supreme and that his premiership is inherited and should not be unseated.

“Wow….orang Malaysia sangat baik baik….macam ni pun boleh di biar” talking heard from kedai kopi Seng Nam

Anonymous said...

so far it's been all talk and nothing rocky.
empty promises.
why do people get suckered into rallying behind this has been. very sad.
if najib it is then so be it...let's move on and improve the bloody situation.
it's not doing anyone any good.
frankly people like me are fed up with hearing excessive kedai kopi talk. i can't even have a peaceful cup of tea at the mamak without some near table discussing the current political woes.
cukuplah brudder.
if pr/pkr thinks they have a shot at forming the next government just prove it in the next election.
as it is, they have done squat in the states they already control. rubbish...
talking about foreign investments etc...pleaselah, what have you done for the people now and since they've won in these states.
if this is the case, i doubt the rakyat will be duped into voting for pkr/pr in the next GE. and i think anwar knows people are frustrated.
it's great to shift the blame on the current gov - and to a certain extent they do deserve a big kicking in the butt - but playing the blaming game doesn't help you me or others who are trying to make a living in the real world.
think about it bro, all this politicking on pr/pkr side's requires huge funds, and do you seriously think the money being spent is anwar's?
it's great when it doesn't have to come out of your own pocket.
does he even have to pay his house or car rent bro?
looking at people like lim guan eng for example - who has spent his entire life in the opposition -i feel sad that he hasn't yet shed that personality although he today controls the state gov of penang. still trying to go around pointing fingers. cukuplah cm, get to work man. you are running out of time. when and if pkr/pr wins, you can very well head the aca if u wish to go witch hunting but for now, buatlah kerja yang telah diamanatkan rakyat pulau pinang.
at least the mb of kedah is seen to be doing something although he has to cut down trees to finance the state. so what man.

all talk and no action. talk and inciting hatred ada lah. balls!

seriously man, who do we even give anwar and the opposition so much of media attention that they dont even deserve in the first place. u want media attention, try being charged for sodomy mother f&$#@!

Anonymous said...

what you mean doing nothing to
judiciary reform? they are trying to bring back the sane people who
were responsible for all the judiciary mess ups . one wonders why the royal commission when nothing is done after all has been found. just for a show may be.

SHAKING HEADS

GoMalaysia said...

Marilah kita lihat Inilah Pemimpin Dipanggil pemimpin Rakyat

http://gomalaysian.blogspot.com/2008/09/malaysiakini-inilah-pemimpin-rakyat-lim.html

Anonymous said...

The money flowed away, not due to Anwar Ibrahim, rather because Malaysi is no longer attractive... an affermative policy gone wrong, interest rates that does not reflect the market, un attractive stock market, basket case valuation on Ringgit. It neither has anything to do with Ahmad Badawi.

Shah Johary

Bung Karno said...

RM 125 billions ? Is he for real ?
Can any economists or statistician verify this Malay Studies graduate ?

A KADIR JASIN said...

Sdr Rocky's Bru,

This is what I said of Abdullah as Finance Minister in the Nov. 16, 2003 issue of Malaysian Business. That was the month he became PM and Finance Minister:-

“It is certainly not a good idea for the Prime Minister to be a full-time Finance Minister for an extended period.

“A separation between political and financial management will enhance our global standing.

“Thus, for the good of the country, a capable and experienced person should be appointed to the job. Only then can Malaysia hope to lead the developing world in promoting reform of the global financial and trading arrangements.”

That was the time when, like all other suckers, I was full of praises for Abdullah.

Even then I knew he could not manage finance and economy.

Thank you.

musa mohamad said...

well said bru, that is what actually we need right now. lets forget all thingh about this take over and let us forget about new setup. together as malaysian let us try to put some sense into the present government and get them work. it is good for everybody on this earth.

Anonymous said...

(heha) : " RM125billion !?...hahaha
i NO wori man, i manyak cupup oredi
utk 5 generations pun tak habis ...
hahaha...who cares !" laughed xxx!

melayu-tertindas said...

Dear Rocky
Something for you to ponder... he has a point though!

++++++++++++++++++++++++++++++++++++++++++++++++++++++

Anonymous said...
Rocky ah rocky,
we do not know whether DSAI is guilty or not, only he and the alleged victims know, so we let the law take its course. Sometimes i believe we should be neutral when it comes to things that we are not sure instead giving opinions that make us look like we are being influenced, this is especially true to self proclaimed "free minded" bloggers like u.

5:14 PM

Malim said...

Rocky,

I wonder if Anwar is a Freemason,
or member of some other influential yet controversial societies.

His economics had he applied them during 1997, Malaysia today would have been down the drain.
His economic ideas are disastrous.
Moreover they reflect those of some societies like CFA, Freemasons.

Look at his contacts...
All members of such societies.
Paul Wolfowitz heads the list!
The think tanks he is close to are all bullish economists with western interests and neoconservatives..
He gets inputs from them..

Anonymous said...

Hi Rocky

There should be a meeting of the best economic and financial brains in Malaysia to decide on strategies to deal with the impending economic problems as soon as possible. There is no time to waste as the US contagion is spreading. The government must act quickly.

Phua Kai Lit

zealot said...

Bro,

the worst is coming next month. are we ready!

Achtung Baby said...

Going through the comments, I feel that "taksub" is the key word. Both for the pro-Anwars and pro-Pak Lah people.

Somehow, Anwar can't do no wrong even when is wrong. Anwar should take some of the blame for the lack of investor's confidence recently. After the General Election, investors were spooked because the government did not have the 2/3 majority that it enjoys all these years. Then, Anwar kept on taunting the government about the cross-overs. This creates uncertainty in the eye of the investors. Why should they invest now? What happens if there's a change in Government? This will effect their strategy and direction.
I believe, Anwar should just focus on the five states and wait for the next general election. From the reports, it appear that PR finds that managing a state is not as easy as it appears. There are plenty of election promises which have yet been fulfilled. Patience is a virtue. Anwar's impatience shows that at the end of the day, the premiership is about fulfilling is personal agenda and NOT for the sake of the people. If his intention is good, he should wait.
Recently, we see some flip-flopping from the opposition side as well. First, the changing of the dates. Second, the "dog food" issue. Thirdly, the names of the crossovers. Lim Kit Siang said today that only Anwar knows who they are. Hmm... interesting. Why did the PR guys went to Taiwan for? Apparently, they met some of the MPs who were supposedly crossing over. I thought only Anwar knows who they are.
The other thing is the corruption case in Perak. Regardless of whether it was set up or not. The point is they took it. For a muslim, they took the bribe AND committed adultery!
As for the government, there are many areas they should improve on. We need a good Finance Ministry who can actually manage and react to the changes in the economy.
The number of ministries need to be reduced so that there are less employees at the ministry level and less duplication. In the corporate world, we are used to multitasking. Why can't they do it? By reducing the number of ministries, it would free up a lot of cash for development. In turn, with less staff, government servants should be able to enjoy better salaries and bonuses. Hopefully, and I pray to God for this, there will be less corruption.
In terms of development expenditure, they should prioritize the more important ones instead of having "incidental" expenses. It's waste of taxpayers money! Actually, what happened to the open tenders?
At the moment, the global financial market is in a turmoil. I doubt someone would be willing to commit USD/RM1 trillion to one country. That would be just plain daft!

Anonymous said...

Dear RockyBru,

It seems that you dislike Anwar.

All your blog entries show that you support Mahathir, the man who self elect Badawi to be his successor

You are just like Jeffooi , who join DAP but support Mahathir

eugene said...

He has built corridors after corridors of corruption, if i were to be the FDI, i also lari kuat kuat, and somemore, so many red tapes..

the jester speaks said...

Anwar ..leader?

Oh plsssssssssss

He'll be no better than the current clowns

The said...

/// demozilla said...

Bro

I wonder if investor around the world look at human right, judicial independence and ISA thingy when they invest billions and billions in China.

Do china 10x better in human right and better democracy than Malaysia?

Think about it. ///

demozilla, I think you should think harder about it as well.

Investors look at everything before investing - the market potentials and most of all the expected profits. Most of all, they look at the FUTURE and the trends.

As of now, China is behind Malaysia in many areas that you mentioned. That is why, despite its huge population and potential, it has only just began to attract FDIs in a big way. Although the FDIs are big in absolute terms compared to Malaysia's, they are still small.

Now, the most important factor when deciding where to plonk your money is the future earnings potential. China is worst than Malaysia in many of the social, legal and admin infrastructure. But, and this is the crux, China is improving in these areas, whereas Malaysia is deteriorating.

Do note that, not only FDIs are not coming into Malaysia, local capital are fleeing the country as well.

Anonymous said...

Kearah Anuar Ibrahim sebagai Perdana Menteri Malaysia dengan Kerajaan baru nampaknya semakin suram.

Ada dua soalan bonus yang dikemukakan oleh pimpinan utama PAS tidak dapat dijawab dengan betul oleh Anuar Ibrahim semasa di Kota Bharu 23 September yang lalu.

SOALAN (1).
Siapakan diantara 31 orang yang akan lompat?? berapa MP Muslim dan berapa MP non Muslim?

JAWAPAN (1)
Tak boleh diberi tahu Tok Guru ini strategi politik kami.

SOALAN TAMBAHAN (1)
Tak kan tak boleh beritahu kami, antara kami ini adalah pimpinan utama PAS. Jiika kami tak diberitahu, macam mana orang kami nak mempercayai Dato' Seri??

JAWAPAN TAMBAHAN (1)
...tersenggeh...... belum cukup lagi Tok Guru.

SOALAN (2)
Berapa orangkan MP yang lompat ditawarkan dengan jawtan Menteri? Kalau semua ditawarkan Menteri, macamana dengan MP-MP dari Keadilan, DAP dan PAS tidak adakah peruntukkan??

JAWAPAN (2)
Yang tu kena selepas saya menjawat jawatan Perdana Menteri...pandailah saya adjustnya....Jangan bimban Tok Guru.Ini Anuar Ibrahim......sambil dengan banggannya menempuk dadanya.

SOALAN (3)
Sejauhmana Islam dijadian dasar dalam kerajaan yang akan dibentuk ini??

JAWAPAN (3)
Nantila Tok Guru.....saya kena minta komen dan perakuan bertulis daripada DAP.

SOALAN 4
Setelah 16 tak jadi. bila pula tarikh terbaru??

JAWAPAN (4)
Itulah saya minta Tok Guru banyak-banyak solat hajat...agar cepat-cepat Pak Lah panggil bincang dengan saya untuk proses penyerahan kuasa dengan aman dan selamat.

SOALAN (5)
Pak Lah mana nak bincang serah jawatan kepada parti lain. Kepada parti sendiri pun Pak Lah nampak tak percaya??

JAWAPAN (5)
Entahlah saya harap-harap begitu, kalau boleh saya akan usulkan undi tidak percaya dalam parlimen nanti.

Selepas itu mereka bersalam dan berpisah.


PAS SEJATI

Knights Templar said...

Whatever most of you guys might wanna belive, i really hope Anwar stops the circus and gets on to what he is expected and elected to do, which is being an effective opposition leader.Nobody elected him PM in waiting yet ,so better he do what he promised to do.Cukup lah tu Anwar ,ramai yang terpedaya dengan janji janji manis mu tu sengsara dan merempat sekarang.You made the mistake during the Tun's time ,and you making the same one now ... how blind are your followers i wonder.The end justifies the means ? Not in this case.

Anonymous said...

DSAI-pls concentrate on being a good opposition leader. jgn banyak cakap je. plan punye banyak 1 pun tak jalan..u make yourself look bad..i dont think i wd want a PM like u..not that the current one is good though. i think DSAI sd just lay low till his 'case' is over. Kesian Msia, mengharapkan sby like him to be a PM. nmpk sgt dh takde org lain..

tahir

Anonymous said...

When politicians talk cock, the country will get cock economy. Malay proverb says "kais pagi, makan pagi"

ex-Fannie Mae

syimi said...

demozilla,
If china is worse than malaysia in terms of human right, corruption and democracy, people in china will suffer more than those in Indonesia..think about it.

rocky one said...

Dalam keadaan sekarang inilah yang betul2 dapat menguji Najib sama ada beliau bersedia untuk memikul tanggungjawab lebih besar nanti.

Patriotic1994 said...

Hey Mahathir boy...

While you were sleeping, someone registered your name to vote.

Now you are awake, look forward and don't look back!

Forgive but not forget what happen in the past.

Just look at the cards on the tables: who is the most suitable person to lead the country out of mess?

Or better to say, which party has better potential to run our country?

I am mahathir boy too. Everybody is. Same as you, we were told to sleep while in school. I only wake up when I got kid and could not find a future for him here.

So I fight for one.

Anonymous said...

Saudara Rocky,
I watch TV3 tonite, there was section report on the FDI outflow from Malaysia. It was spin in such a way as a positive news, that it show Malaysian economy is growing and looking for expansion elsewhere? I was dumbfounded by the news, what is the government trying to do??? Is TV3 trying to fool its viewer?

Dari Melaka View

Tan Sri Frank Sinatra said...

Rocky I am dissapointed in your one sided leaning that blames Anwar Partly for the economy. You do not have crystal clear point of view. The truth is Anwar Ibrahim Never lied when he said he was going the change the government in sept 16. He was speaking the truth, He will change the government in sept 16, only he never mentioned what year..

Oh yeahh... In Your Face Rocky so hah!

We "Malaysians" must have faith in the true PM of Malaysia DSAI.

Ahh yes..
Sarcasm: intellect on the offensive

Knights Templar said...

Tan Sri Frank ,frankly speaking "you're a moron just like the rest of Anwar's followers.He said Sept 16 but never mentioned the year huh? Go tell that to those who spent time ,effort and money and supported him to win Permatang Pauh and are still waiting for deliverence.And please tell RPK that Anwar will be PM in 2010 and in time to get him out ,for as far as i know "Anwar aint said and done nothing yet !

Sinatra_Z said...

This is Tan Sri Frank Sinatra here..

In Reply to Knights Templar,
I refer you sir the last line in that comment I left where I highlighted the word Sarcasm.

In case you still don't get what I mean perhaps this may be of help..


SARCASM :

• noun the use of irony to mock or convey contempt.

Knights Templar said...

My Bad Then ! Tan Sri ....

tonyboneka said...

Don't initiate the blaming game, think about what can do to revive Malaysia economy, which already stagnant last 10 years. Malaysia need to restructure its economy towards high value chain. The key is talents.

If a problem persists 10 years already, there must be something wrong to the root.

Don’t be led by events/politicians, think about the structure.