Tuesday, August 09, 2011

Ramon's betrayal of the NEP

'NEP not to blame for decline in FDIs'
NST Business Times pB4 8August 2011

By Muhammed Abdul Khalid
ONCE in a while, the debate on the New Economic Policy (NEP) resurfaces, and majority would argue that the policy is the source of all problems facing this nation. The latest came from Tan Sri Ramon Navaratnam's "Time not on our side as we stride forward to Vision 2020" (The Star, May 31), in which he argued that the NEP is one of the main reasons for the decline in foreign direct investments (FDIs) into Malaysia.

Sad to say that Tan Sri Ramon's argument is empirically incorrect as most of the foreign companies that have set up operations in Malaysia are no longer constrained by the NEP's equity shareholding requirement since the past several years.

For instance, since 1998, Malaysia has completely liberalised its manufacturing sector by allowing 100 per cent equity ownership without any conditions imposed. In fact, export-oriented companies have been allowed to be fully owned since 1986. Similarly, the services sector which accounts for nearly 60 per cent of Malaysia's gross domestic product (GDP) is partially liberalised following the liberalisation of 27 service sub-sectors in 2009, with no equity conditions imposed. High tech industries, in particular companies that are established in the Multimedia Super Corridor (MSC) are also allowed to be fully owned by foreign investors.

All these points imply two things. First, contrary to his argument, Malaysia has loosened its Bumi requirements several years ago and second, despite not having such requirements, FDI inflows remained subdued in the past several years, suggesting that other factors than the NEP could in fact be the real reasons behind such a dismal FDI performance.

Arguably, what matters most for foreign investors are not NEP related requirements but rather the political stability, policy consistency, excellent infrastructure, generous tax and non-tax incentives, prospects of commendable returns on investment as well as, cheap and educated labour force that a country can provide.

Furthermore, had the NEP really constrained FDI inflows, Malaysia would not have seen the influx of foreign investments towards the late 1980s and in the 1990s, up to the crisis year when the requirements under the affirmative action were rigorously enforced. On the contrary, net FDI inflows into Malaysia were not only positive but also among the highest in the region.

This is evidenced from the FDI-to-GDP ratio which doubled to 6.6 per cent during 1991-1996 from just 3.3 per cent during1970-1984, with a record high of 23 per cent registered in 1992. The level of private investments was so high in the mid-1990s that its ratio to GDP surged to over 40 per cent, causing the country's savings-investment gap to turn negative as implied by the yawning current account deficits during that period. 

Nothing could explain that period of investment boom other than the right cocktail of favourable economic and political factors. Besides, during the period of 1990-1999, Malaysia's FDI flows climbed at a much faster rate compared with that of other Asean countries, with an average annual growth rate of 19.5 per cent for FDI inward stock, higher than the Philippines' 14.2 per cent, Thailand's 10.8 per cent and Singapore's 11.3 per cent.

Admittedly, FDI inflows into Malaysia have subsided post-Asian crisis and have been on a declining trend, especially since 2007. Such a trend is due to a confluence of factors - key among them is the rising labour cost. 

Prior to this, Malaysia's attractiveness to foreign investors was largely explained by its cheap labour force, which is no longer the case in recent years. Even our down south neighbouring country, Singapore, also saw its share of FDI to GDP drop by half to 9.2 per cent in 2009 from 19.1 per cent in 2006, despite being perceived as a more liberalised economy.

Thailand faced the same problem, with its share of FDI to GDP declining by half to merely 2.3 per cent over the same period. Nevertheless, other regional countries, namely Vietnam, Cambodia and Indonesia are still offering a combination of factors favoured by foreign investors - cheap labour, abundant land and huge domestic market - things that Malaysia does not offer anymore.

The most critical of all, these three countries offer incentives for labour intensive industries which Malaysia correctly no longer promotes. United Nations Conference on Trade and Development (UNCTAD), in its 2009 report, stated that foreign investors placed market growth as the topmost priority when it comes to deciding on an investment destination, followed by the availability of cheap labour, and, in some cases, access to natural resources.

It is also found that while government effectiveness, regulatory quality, rule of law, and corruption are important considerations, these are not their main concerns. This explains the huge investment inflows into India and China, and even Vietnam, despite being ranked much lower than Malaysia in the World Bank's Ease of Doing Business Index where Malaysia was ranked 21 out of 183 economies versus Vietnam's 78th position, China's 79th and India's 134th.

If we decompose the FDI components, one can see that the declining trend in net FDIs into Malaysia is largely attributed to outflows of funds, partly due the repatriation of dividends and earnings by existing investors as well as increasing Malaysian investments overseas (usually termed as reverse investments), mainly due to cross border acquisitions especially in the area of telecommunications and banking. 

This is reflected in the amount categorised as Direct Investment Abroad (DIA) which continued to chart an upward trend since the beginning of the millennium, increasing from a mere 0.3 per cent of GDP in 2001 to 5.6 per cent of GDP in 2010. As a result, the net international investment position (IIP) posted a positive balance in the past two years, reflecting an increase in the amount of assets held overseas by Malaysian companies. This positive development, however, was reflected in the FDI account as negative numbers. 

Blaming the NEP for the decline in FDI inflows into Malaysia is factually incorrect. Being critical of a government policy or NEP is one thing but being objective in doing so is another.

Admittedly, there is still room for improvements, and we do need to deal with our weaknesses in luring foreign investments as correctly pointed by Tan Sri Ramon, but let's do it objectively.

* Dr Muhammed Abdul Khalid is a research fellow with UKM. This is the personal opinion of the writer.


----------------------------


People like Ramon Navaratnam are a mystery to me. When in Government, he sat behind his desk like a mouse, like a obedient servant who did not questestion anything, right or wrong, that he was asked to do. He became a "top" civil servant, drew good salaries and perks, and defended all the policies of the Government. If had not done all that, he would have been on the streets.
Once out, he bites the hands that fed him. Like an avenging angel, he starts ravaging the very policies that he so staunchly defended.
He is enlightened. Or he has repented. Ramon Navaratnam should first offer a public and sincere apology for serving the system - no, for helping create the system - that he claims is today the cause of our slide as a nation and a people.

Thank you Dr Muhammed Abdul Khalid for putting the NEP in proper perspective, and Ramon in his place.

55 comments:

Bedul said...

Shame on Ramon. A retired top PTD officer talking like a DAP cadre.
No wonder he got so much play in Din Merican's blog.
Keling ni cakap macam ular, berbelit-belit.
What is he so dissatisfied with? Big house, big perks, big pension and director of so many corporations after retirement.
Maybe he still wants something he can't get.
Hey I love the NEP, man. Datuk A.K. Nathan, Palanivel, Tony
Fernandes, Nalla, Uthayar, Lingam etc all riding high, from their lowly beginnings.

Bedul said...

Shame on Ramon. A retired top PTD officer talking like a DAP cadre.
No wonder he got so much play in Din Merican's blog.
Keling ni cakap macam ular, berbelit-belit.
What is he so dissatisfied with? Big house, big perks, big pension and director of so many corporations after retirement.
Maybe he still wants something he can't get.
Hey I love the NEP, man. Datuk A.K. Nathan, Palanivel, Tony
Fernandes, Nalla, Uthayar, Lingam etc all riding high, from their lowly beginnings.

Anonymous said...

Loosening of policy ? After 30 years of defending the standard minimum 30 pct bumiputra equity policy, and threatening to shoot anybody who gets in the way, you think international investors still believe that the government has loosened its rules ? With your friends in Perkasa foaming at the mouth ?

30 years of NEP have made a certain class of people fat and rich. This class of people want to stay fat and rich without doing any serious work. You think foreigners want to hire this class of people ? you think this class of people want to do serious work ?

On the other hand, another class of people get chased out of this country for being of the wrong race, and they set up their base in a neighbouring country to attract FDI.

NEP has killed this country, and it will take a bankruptcy of this country to right the ship.

Godfather

Anonymous said...

SUSU di beri tuba di balas.
Semenjak bersara ,ada aje isu di ketengah, sengaja cari pasal memang sengaja cari isu dan asli yang jadi hulu batang kapak.juga ada contoh dalam cerita dongeng aesop,annggur masam.
arjuna waspada
changkat lobak.

satD said...

out of topic..

ur layout parah bro...tulisan merah on the side sakit mate...

I wonder why all these Anti NEP folks could never come up with proper data to back their crappy tots?

Anonymous said...

people like ramon navaratnam ARE a mystery ....
*badrul*

Rock Water said...

Ramon worked for the civil service and not the government. There is no rule which requires him to be loyal to the government. I can understand why you have to defend the government like this, after being sidelined during Pak Lah's time, this is your chance.. everyone got to do what they got to do right.. good luck

bru said...

SatD,
Lu mata merah lah beb. Try blue.

satD said...

yeah rite tadi merah beb! lu baru tukar tu...a wee bit better..

:)

Donosepataharam said...

Dear bro,

NEP's just a side show, power is the real thing.

Lest we forget Malaysia will go the Singapore way if the Cina and Kling would have us believe. Tipu, belit memang dah jadi darah daging dia orang.

Kesian orang Melayu. Sampai nak mampus pun tak sedar lagi.

Gua, macam lu agak nya, memang orang Kiai Salleh thru and thru.

Salam Parang Panjang!

Anonymous said...

peoples like Mr Ramon here are usually those who we called as ungrateful bastard with no dignity..Mr Ramon here get his monthly pension but at the same time he is without no sense of guilty keep on condemning the government.

Anonymous said...

To ROCKWATER,

what a lame argument.it's ok you said if you get your monthly salary from the government you hate?for me this act of a man without dignity.how come you get your monthly salary @ pension from the government, but at the same time your are condemning the government that give you income?macam anjinglah bro.gigit tangan orang bagi makan.this an act of ungrateful ignorant bastard

syockit said...

satD, at least it's better than having a full yellow background with black text, which is really painful to read!

Anonymous said...

The NEP was not meant to help Bumiputeras.
It was only meant to help Umno-puteras.
If we accept that fundamental, then the NEP is a huge success, given the number of millionaire-members in UMNO.

Anonymous said...

Simplistic thinking again, sentuh plan hal loyalty, the usual conclusion statement, not inspiring to even publish it.

NEP produced the longest beurocratic process in the world, nak bukak factory approval bertimbun, why pasai NEP, foreign investor serik nap carik local Bumiputra partner, semua political, free market tarak.

Nak argue pasal, opening of the sector, terlambat babe, bukak manufacturing 1998, negera jiran dah maju jauh, baru nak bukak, too late la. Hang tengok, cube buat comparison how many industry critical dan relevant in this present age, mash lagi tied to NEP prinsip.

in the end, the results speaks for itself, Vn, Thailand, Indonesia dah maju kedepan, kite duo mengolopong.

Anonymous said...

great post, rocky!

farha

Anonymous said...

chinese and indians and malay stupid liberals
pls provide full proof of data NEP actually made FDI's and vision 2020 not achieving their targets.

btw.
taxpayer money from the chinese and indians and malays stupid liberal (including kafir nik aziz and anuwar) are all coming from (62%) from malays.
bodoh punya ramon.

Srikanth Siva said...

you can blog all you want, but the ppl you need to go after is the one on the fence...thanks to recent BERSIH fiasco, you helped some of them to decide. We shall see in the coming elections.

i will vote for sure

Anonymous said...

Paria ni kena kantol menipu. hahaha..

Anonymous said...

Ramon should be put out to pasture permanently.

Dia dah nyanyuk

Anonymous said...

Ramon's statement was race hatred remarks. Shame on Ramon.

Anonymous said...

Why pick on Ramon for his observations now...arent there even bigger fish/es out there who have critizize ruling govt/policies but WHO had once served it??
Oh maybe becos now very pally with them and theirs, is it...
Everyone are ulars for that matter.

Anonymous said...

Haiya... not surpurising at all laa. This kind of people same color also have, still doing "kipas gila babi" maa in order to be promoted.Willing to jilat anything but once u have no more power on him, u better watch-out. Will kick u out kaw kaw. Thats why some people laa say, " When u see a snake n tut-tut-tut, who will u hantam first??"

Anonymous said...

Datuk AK Nathan /Tony F/Ananda Krishan who on their OWN MERIT sweated and came up before they were much sought after to TOLONG here and there.
Finally every bugger here says they were HELPED by NEP.
hAA HAA HAA

SHOK SENDIRI

Anonymous said...

This is what we called speaking with forked-tongue. A hypocrite to the highest level.

Praxis said...

This article by Muhammed Abdul Khalid is true to his training and profession very objective.

He details the performance during the 1980's and 1990's the liberalization of ownership conditons long ago, Malaysia's competitive performance regionaly vis-a-vis- FDI, the complexity of flows including net outflows with Malaysian investments, etc.

His list of factors motivating FDI's are solid, and informed.

Correctly, he doesn't stray far from the facts, at best citing only 'cocktail of economic and political factors.'

Mr Ramon can only be critical without being contructive and even his critique fails because it is not informative.

Muhammed Abdul Khalid is more generous than Ramon, offering to at least try and see the real problem behind Ramon's rhetoric.

Where does Ramon get the courage for his bold critique? Critique alone will not make one holy - we have to test our thoughts and see if is guided by the spirit of truth or the spirit of error. There are many false prophets in our midst. We have a duty to grow in maturity as we age.

PS- If indeed our own investment outflows are big, isn't the problem then reversed? What's the value of FDI as in conventional models? Have we got the problem and indicators right? Hasn't Dr Mahathir turned this problem upside down? It still hasn't dawned us. I know Ramon is not capable of such gymnastics!

Anonymous said...

raamon navaratnam.

spt melepas anjing tersepit

Anonymous said...

While those anti-NEP commenters choose to try to defend Ramon, they obviously chose to ignore the empirical evidence put up by the academic.
It is obvious that when Ramon was making his negative opinion about the NEP, it was purely based on the sentiments and perceptions amongst those who are racist and against the NEP regardless whether their views are blinkered and shallow.
This is the actual issue that needs to be discussed - Ramon's opinion versus that of the academic.
It is obvious that Ramon's opinion was not based on facts or figures but regurgitating a populist stance.
There is obviously no intellect involved.
Such a shallow opinion coming from Ramon only reflects that he is another of those who tries to portray himself as an intellectual (as those who use Ramon to back their arguments) but in actual fact trying to get their "five minute fame".
It is actually a sad reflection of the man who had served the nation and rose to a very high position to be so pathetic in his retirement, incapable of rising above polarised sentiments and in trying to remain relevant.
He can if he has the capacity. But as the academic had unravelled in the article, Ramon should consider going quitely to pasture.

He who pities the likes of Ramon.

Anonymous said...

Ramon ni typical keling ... pengampu

Anonymous said...

The charcoal-black Chakiliyan Keling pundek has little or no inkling of what he is mouthing off. The fucktart is probably lumbering under some delusion of race grandeur that these scumbags hold dear. The son of a bitch is a typical manifestation of the pariah Ceylon Tamil pundek kalathai thaioli whose raison d'etre in life is to condescendingly diss the Malays and their many achievements in steering this beloved Tanah Melayu into the ranks of the upper middle income and soon into the high income stratosphere.He probably cant swallow the fact that the Malays he once sneeringly scorned have succeded while his countrymen are still scraping up chicken shit for sambal in some god-forsaken hovel stilted on the ashes of their Tamil Tiger dream. This is the selfsame nincoompoop pariyan who would have mouthed " alah..dia bumilah" on hearing any Malay success story. I would dearly love this fucked up Christo scounderel to be manacled in an ISA cellar and have his filthy crotch torched to test whether he has the balls to repeat his anti-national drivel and to ferret out who his handlers are.What say you Hisham. Dont tell me u r scared of this dhoti-clad betel chewing pundek of an arang?

Secondly that the dimunition of FDI is directly correlated with increased political instability in Malaysia is no coincidence. Only the braindead would contest the fact that the rise in street thuggery, commencing with Bersih and Hindraf 2007, the victory of an anti-business pro-anarchist coalition in the leading industrial states, the upheaveals engineered by Anwhore and gang, another tamil chakiliyan political theveidial by the name of Ambiga and ancilliary sabre rattling by others with the backing of the filthy prepuced Christos and their fellow pigfucking Chingkie whorevendors have all conspired to create the impression of a lawless state to foreign entrepreneurs. This and the velvet glove response by an effete government, especially by a pondan Home Minister, has spooked foreign investors hence diminishing FDI inflow.

Thirdly, apart from the reasons by Dr Khalid, another cause for lowered FDI inflow is due to the current uncertainties plaguing the global economy with many investors adopting a wait and see attitude especially in the manufacturing sector. Additionally, the emergence of economies embracing the capitalist/free market model in Asia and elsewhere has effectively meant that the limited pool of FDI had been diluted and more spread out as they enter terrotories de-socialised/decommunized; deregulated; debureaucratised
Finally, what is deemed as FDI quality need to be srutinised. By this, I refer to the nature of the FDI itself, whether it is long term, productive oriented or short term speculative oriented. Experince has shown conclusively that the former is infinitiseminally more prefereable to the latter's disruptive influence. And i wouldnt worry too much over the dearth in FDI inflow as my fact-based comment in the link below at 11.12 am shows.And yes, I still hold firmly to the view that exit taxes, wealth exproporiation and ,where necessary, mass culling is needed whence dealing with FDI outflow emanating from the Chingkie quarter.

www.rockybru.com.my/2010/08/fdi-when-big-is-not-always-better.html

Warrior 231

Anonymous said...

Ramon Navaratnam lost his objectivity and credibility a long time ago. His pronouncements on public matters since being with Sunway Group perhaps reflect the sentiments persisiting within the environment he is allowed to exist profitably in.

Lalang Syndrome actually. Go with the wind so long as you can benefit.

Anonymous said...

The Learned Research Fellow has taken verbatim from the FDI Law Book. What he has failed to take into consideration is the numerous backroom chat that goes on and the arm twisting that is taking place with or without the knowledge of the Government. The first thing all governments must learn about business is that you do not make money when you issue the 'Lesen'. You only make money when the 'Lesen' makes money.

And specifically for Malaysia the Bumiputra policy may not be good for the economy but a good ecenomy will be very good for the Bumiputra policy

Anonymous said...

ramon, why don't you go back to where you come from? then see whether ur life is as good as you are now. in your place of origin, u may be a pariah!

Anonymous said...

Muka dia x hensem..patutla dongkey..

Jon

umar said...

Somebody has to say the bitter truth.
"NEP was bastardized " , said Nazir Razak of CIMB. It was his father's brainchild.
So Ramon Nava said the obvious thing.Though he was a senior civil servant, he had to toe the line.He was in Treasury all his life but not as the head.Just in time for retirement he was appointed as Head of another ministry.
Upon retirement became CEO of Bank Buruh.Bank Simpanan Nasional took over Bank Buruh. He was jobless instantly.Sunway Group made him adviser something.He was not appointed any directoship in any GLCs or agencies.For a man who spend all his life in MOF, there was no offers in Corporate Malaysia. Hence, he realised the real reason being NEP!

Anonymous said...

Aaahh... A black cobra.

eddy said...

Shameless Navaratnam got a blue black eye, he is getting careless when he writes things without backup.

Navaratnam forgot that there are many thousands of proud product of the NEP, professionals and academecian, who benefited from the Gomen affirmative action program, its not just the Umnoputeras that benefited you know.

Khamis said...

It is not for
Navaratnam the Indian fella, to say what is right or wrong with the NEP.
The NEP is a Malay policy to promote local Malays economic standing.

Lest Navaratnam forget, the NEP was formulated after the Malays rioted in 1969 due to social inequalities.

The Malay leaders then were lulled into complacency just as they are now lulled by the gambling tokehs,the IPP plunderers, the wouldbe airline entrepreneur, the chinese capitalists..etc.


Do they think that the Malays are not watching as everything the UMNO Govt control companies are sold to the "market" read capitalist read Chinese, just so some Malay investment bankers can make millions of commissions?

Thus the existence of the NEP is the reason for Malaysia stability fo the last 40 years, you stupid Navartmon.

As usual UMNO leaders hide behind non Malays like the Christian Idris Jala, or the staunched Christian Fernandes.

As Mahathir hid behind Vincent Tan, the chinese laughingly called him an ultra Malay..hehe

Well we will see who hehe last..hehe

Anonymous said...

Biasalah geng2 jenis ni.kuat sucking up.belakang tikam.discount 90% je apa yg geng2 ni cakap.

Anonymous said...

Biasalah geng2 jenis ni.kuat sucking up.belakang tikam.discount 90% je apa yg geng2 ni cakap.

Anonymous said...

Dato,

The world and its people who are either tourists, investors or keen observers dont have to look far to compare our Malaysia.
You see, Indonesia a country with the most Muslims BUT YET a very much modern SECULAR state has finally broke past its doldrums and is marching towards greatness like its other great democratic country INDIA. Unlike CHINA, these two will ultimately have much real world political clout due to their politcal system of modern mixed democracy.
As they progress the population will spearhead further local consumption like how INDIA is already moving up quite independent of exports market which CHINA is so dependent upon unfortunately for itself. Today inflation does not allow the lower middle class of China to go up further unlike India which has higher inflation but the middle class is much stronger since it faced the full economic experience since Independence and now having a middle class population equal to the population of USA yet GROWING still, non chalantly, irrespective whether the world notices it.
Malaysia however is really under lots of hurdles due to a culture of great inertia inspite of all the policies, talk and education or even innovative ideas which dont go very far either.
To TOP it ALL, our education policy sucks big time with so much wrong emphasis which possibly is the reason for all this doldrums now. -benny.

Mustapha Ong said...

Dear Bru,

Sorry for once I don't like your spin on Ramon V. Navaratnam, the spice and salt added although you may have forgotten the Ajinomoto. As for the issue about NEP, no body knows better than Ramon, even if Academician like prove their worth on their cap of PhD.

Hope you get hold of his book "My Life and Times" from the bookshop.

Anonymous said...

his face is like the devil, no wonder lah!

Anonymous said...

Guys, ini bulan ramadhan tau...

Keep discussions to a pleasant tone...

I'm sure at certain points of life we all rethink and redo things differently, let him speak his mind, the truth will be out naturally.

It's undeniable some parties have abused the NEP and there need to be clear heads on this one.

Anonymous said...

This is a fine example of how simpleton malayus jump to conclusions insinuating badwill, the end result of a mediocre educational system and inherent racism.

Now hear this; NEP is not just about equity and investments. It is a whole range of issues including taxes, tariffs, duties, licenses, protectionism, regulatory boards, availability of skilled labour, etc. It is *this* NEP that is a stumbling block to a free trade agreement and consequently a free flow of funds.

For instance both Citibank and StanChart plans to open 250 branches each, but it is the NEP that has prevented it. So are the restrictive banking regulations. Walmart wants to open 80 supermarkets in direct competition with Tesco, Jusco, Carrefour, etc. Foreign developers want entry and archaic land regulations loosened.

I can go on, but you get the picture?

Besides the political and social climate. Banging on the doors in the night, caning people, draconian measures in arresting people, raids, .... no respectable investor will tolerate authoritarian regimes.

A simple comparison would explain why Singapore receives more FDI than Malaysia inspite that they have high costs - a state of efficiency!

The fact remains, that FDI has slipped vis a vis other developing nations - an indication of loss of confidence in the economy. Lack of confidence means, you dont go and invest in Afghanistan because you have no confidence that the investment or your life will be save. The lack of real reform measures is another reason.

Expert opinions like Ramon's is usually based on a study of latest economic date, trends and global feedback, and not, as you think, a squirt of fart for the press. Economists and analysts worldwide study Ramon's latest opinions and citations are made in economic papers. The international community follows America's cue, and if we don't take steps forward on FTA and reform, no other investor too will want ot come in.

A responsible analyst like Muhammed Abdul Khalid should have requested for Ramon's paper before writing a critique. Nowhere has he indicated that he has. He has overlooked all the areas I mentioned above.

Anonymous said...

Forget the FDI. Time to emulate Japan, Korea etc. build our own industries and gradualy grow on our export.

Anonymous said...

Srikanth Siva

yeah we have seen the light and it's coming from UMNO/BN

the pr are just spreading bershit

Anonymous said...

me thinks this guy owes somebody big time and had to return favour by writing this "analysis"

Anonymous said...

so all this is to promote his book??

Anonymous said...

"Rock Water said...
Ramon worked for the civil service and not the government. There is no rule which requires him to be loyal to the government."

Actually, Rock Water, a civil servant must be loyal, serve the country & government of the day. Next time, get your facts right. Peace!

Anonymous said...

Ni dah kira political and the f##FFW# 88 Tan Sri should be tried for sedition.Buat statement yg purposely tak betul and misleading.Kalu kat Singapore, dah lama masuk jail.Do not undestand why the Malays are so accommodating to these kind of shits in this country.Sudah diberi tempat tinggal lagi mau komplain.

Melayus said...

Anonymous said...

" This is a fine example of how simpleton malayus jump to conclusions insinuating badwill, the end result of a mediocre educational system and inherent racism."

Haha //this is a simplistic view of the Malays just like the british thought.

But we Melayus are much sophisticated and our fundamental thinking solid that is proven why the Melayus have governed the Federated Malay States, Sabah and Sarawak so successfully.

The most modern muslim country is run by Melayus. The melayu banking is innovated by Melayu as islamik banking. Not the arabs.

Melayus inherent life philosophy enable it to share and give. This what made it possible for Tunku to give Chinese kulis and Indian pariahs citizenships when no where else in the world are there people willing to do that.

Malaysia run by Melayus polis is the most secure country in the world according World Justice Peace.

Malay women are the most relaxed in the world according to Nielsen.

Malaysia run by Melayus is the safest country in SEA.

Melayus biggest achievement is bringing education to the island of Borneo in Sabah and Sarawak within 50 years.

That is the capability of Melayus teachers by the hundreds of thousand going into the jungle of borneos to teach the backward tribes of Sabah and Sarawak even Semenanjung itself has not enough teachers after independence.

So we dont need another keling to tell us what to do. The FDI things dont scare melayu. They come not from goodness of the heart. They are capitalists who will go to communist China or Vietnam as long as there are profits to be made.

minaq said...

This Ramon chap cant even handle Bank Buruh when he was the Chairman... Apa yang dia mau lagi??

Anonymous said...

Ramon pushes a point, Abdul Khalid debates. But the commentators here can only throw anti Indian race remarks.

Looking at people like warrior & Melayus 12:59, education must have bypassed their empty heads :)

Spade a spade said...

Chinese kulis to work in the tin mines and Indians pariahs to work in their rubber estates..these were the work of the devil i.e the Christian Mat Salleh who were only interested in money.

Historical facts, may not be politically correct but calling a spade a spade is what makes a man a man.