Friday, December 27, 2013

More Securitisation 101 for YB RR


Notes by an Anon for Rafizi via HishamH's comment box, 27 Dec:
1) The selling of govt assets has been going on for decades2) from 1990 -2009, the then Malaysian govt has sold more assets (% revenue) than the current Malaysian govt3) Finance Ministers from 1990 - 2009 = Tun Daim, Dato' Sri Anwar, Tun M & Pak Lah4) In mid 90s, Malaysia experienced budget surplus. so, based on rafizi's logic, did Anwar also use sale of national assets to manage budget deficit/surplus?
Response by Hisham H to Anon:
 @anon 7.40
Thanks for pointing that out. It's an obvious point, but I left it out lest I be accused of playing politics.

Lesson #? Perhaps the blogger who had called Rafizi Ramli a "fraud" (for claiming that the Government was selling and securitising its assets to try and mind its budget gap and meet its deficit target) was a little emotional and wasn't so neutral, politically. 

But this guy HishamH, the dood who runs the Economics Malaysia blog, you can't accuse him of either. Yet even he finds the notion Rafizi's selling "plain silly". Excerpts for his latest posting Debt, Deficits and Government Assets:
"... since 2007, use of assets has never exceeded 2% of government revenue. Even going by the numbers being quoted in the article, we'r enot talking about much more than 2% or revenue.
"Want to know what the current situation is? Up to 3Q2013, total sale of assets is negative RM66.6 million. In other words, there hasn’t been a net sale of assets so far this year. There were net sales of assets in 1Q2013 of RM8.98b, but that was more than offset by asset purchases in 2Q2013 and 3Q2013."
Learn more h e r e.

p.s. Wonder if he'll ever learn

9 comments:

Anonymous said...

Rocky masih tidor lagi ke ? sudahlah dengan RR. Tahukah Rocky Rosmah's son buys RM110mil condo in New York ?

satD said...

I did not call him a fraud...Gua panggil dia rempit bangang...

"Was a little emo n not neutral" aik bila masa pulak sy camtu bang?

Anonymous said...

Privatisation = selling government assets?

Wait a minute - wasn't that started when Dr M was the PM?

Wasn't the rationale for this centred around the premise that the government has no business being in businesses that could be better run by the private sector?

When Malaysia Airlines was privatised to Tajudin Ramli, wasn't that a sale of government assets?

Yet no one complained. Not even the MAS staff unions.

Bru said...

Hehe SatD, if you didn't then I must have!

Anonymous said...

Riza Aziz is a partner of Hollywood mega film producing company.Google him or go to KL Chronicle.Don't digest everything u read
Get the facts first
People can say the same thing about Anwar Ibrahim.Be impartial.

Anonymous said...

Anon 9:14 am

Mebbe so, but I sure as heck can't afford to buy or rent a luxury condo in the Big Apple!

We were openly cynical about Jhae Lo and how he made his money.

All sorts of speculations surfaced in the social media.

So, shouldn't we be just as sceptical about this Riza guy?

And incidentally, given his relationship to the PM, is there a special security detail looking after him in New York?

Maybe some SB people on an overseas posting?

Anonymous said...

@ 9:14 am

I completely agree.

And Nazri's son actually found money for a 7 million bungalow growing on a money tree in the Belum forest. (I can't tell you the location, for obvious reasons.)

I'm glad this ain't some crappy 3rd world country where ministers are basically making themselves insanely rich while making the public underwrite their extravagance.

We are almost 'developed', you know!

Jangan main main.

Anonymous said...

So what??..Its his hard earned money not malaysian goverment or rakyat..

Ellese A said...

Rafizi is trying to be smart by half to show his ignorance. He thought he can con people with stupidity.

Now he knows that even independent chinese economist reported in pro pr AM also think its a silly assertion. Malunya. Tapi masih berlagak kata betul. In Malay he is called bodoh sombong bukankah begitu.