Kampua Talk
Tuesday, November 21, 2006
That's not Malaysia "boleh", that's Malaysia "bodoh"
It's a tough world out there and there can be little sympathy for a country that prefers to argue about how to divide wealth rather than get on with the job of creating it.
The long-held aim is for 30 per cent of corporate equity to be in Malay hands, but the figure that the Government uses to justify handing over huge swathes of public companies to Malays but not to other races is absurd. It bases its figure on equity valued, not at market value, but at par value.
Many shares have a par value of say $1 but a market value of $12. And so the Government figure (18.9 per cent is the most recent figure) is a gross underestimate. Last month a paper by a researcher at a local think-tank came up with a figure of 45 per cent based on actual stock prices. All hell broke loose. The paper was withdrawn and the researcher resigned in protest. Part of the problem is that he is Chinese.
"Malaysia boleh!" is Malaysia's national catch cry. It translates to "Malaysia can!" and Malaysia certainly can. Few countries are as good at wasting money. It is richly endowed with natural resources and the national obsession seems to be to extract these, sell them off and then collectively spray the proceeds up against the wall.
This all happens in the context of Malaysia's grossly inflated sense of its place in the world.
Most Malaysians are convinced that the eyes of the world are on their country and that their leaders are world figures. This is thanks to Malaysia's tame media and the bravado of former prime minister Mahathir Mohamad. The truth is, few people on the streets of London or New York could point to Malaysia on a map much less name its prime minister or capital city.
Petronas, the national oil company is well run, particularly when compared to the disaster that passes for a national oil company in neighbouring Indonesia. But in some respects, this is Malaysia's problem. The very success of Petronas means that it is used to underwrite all manner of excess.
They don't even run the shopping centre that's beneath them. That's handled by Australia's Westfield.
Next year, a Malaysian astronaut will go into space aboard a Russian rocket — the first Malay in space. And the cost? $RM95 million ($A34.3 million), to be footed by Malaysian taxpayers. The Science and Technology Minister has said that a moon landing in 2020 is the next target, aboard a US flight. There's no indication of what the Americans will charge for this, assuming there's even a chance that they will consider it. But what is Malaysia getting by using the space programs of others as a taxi service? There are no obvious technical benefits, but no doubt Malaysians will be told once again, that they are "boleh". The trouble is, they're not. It's not their space program.
Back in July, the Government announced that it would spend $RM490 million on a sports complex near the London Olympics site so that Malaysian athletes can train there and "get used to cold weather".
But the summer Olympics are held in the summer.
So what is the complex's real purpose? The dozens of goodwill missions by ministers and bureaucrats to London to check on the centre's construction and then on the athletes while they train might provide a clue.
Bank bale outs, a formula one racing track, an entire new capital city — Petronas has paid for them all. It's been an orgy of nonsense that Malaysia can ill afford.
Why? Because Malaysia's oil will run out in about 19 years. As it is, Malaysia will become a net oil importer in 2011 — that's just five years away.
So it's in this context that the latest debate about race and wealth is so sad.
It is time to move on, time to prepare the economy for life after oil. But, like Nero fiddling while Rome burned, the Malaysian Government is more interested in stunts like sending a Malaysian into space when Malaysia's inadequate schools could have done with the cash, and arguing about wealth distribution using transparently ridiculous statistics.
That's not Malaysia "boleh", that's Malaysia "bodoh" (stupid).
Labels: News
Free as a bird at last...
Labels: Personal
Wednesday, November 15, 2006
Beware of cross-symbol biscuit
KUALA LUMPUR: Persatuan Pengguna Islam Malaysia (PPIM) hari ini membuat laporan polis terhadap sebuah syarikat pengeluar aiskrim terkemuka kerana kepingan biskutnya mempunyai imej salib.
Rombongan PPIM ketika membuat aduan di Ibu Pejabat Polis Daerah Cheras itu disertai anggota beberapa badan bukan kerajaan termasuk Kongres India Muslim Malaysia (KIMMA) dan Yayasan Bakti Khidmat Masyarakat Malaysia (YBKMM) dengan diketuai Pengarah Sekretariat PPIM Dr Izham Nayan.
Ketua Polis Daerah, ACP Rosli Ahmad mengesahkan bahawa pihaknya telah menerima laporan itu.
Beliau enggan mengulas lanjut.
Dr Izham memberitahu pemberita pihaknya bertindak demikian selepas menerima aduan daripada beberapa orang pengguna yang menyedari kewujudan imej salib pada produk keluaran syarikat itu.
Katanya PPIM telah menghubungi syarikat ais krim berkenaan untuk mendapatkan penjelasan namun sehingga kini belum ada sebarang jawapan. BERNAMA
Hum Sup Municipal Council president Abu Bakar Hassan - minta maaf juga akhirnya
Q: Dr Teng (state Local Government committee chairman Datuk Dr Teng Hock Nan) has said that you denied making the remark.
A: There is a misunderstanding. I have said in the press release that I apologise if my remark had hurt anyone’s feelings, including Melissa (New Straits Times reporter Melissa Darlyne Chow). I openly apologise.
Q: Can you explain why the misunderstanding occurred? We had asked you whether you thought the reporter was sexily ...?
A: No ... no ... no. I have explained (in the press release) that it is a misunderstanding ... that is all.
Q: Do you think all the reporters (at the function) quoted you wrongly? We confirmed the remark with you twice.
A: I was talking about the dress code. I said (newsmen) must not wear sexy dresses (to cover council meetings) ... please do not relate this remark to the CCTV incident. I did not say because she was sexy, the incident occurred. I did not mean that.
Q: That day you said “being sexy is the issue ..." and then you said if she had worn a normal dress, this would not have happened. We all heard it.
A: My statement was misunderstood. I was only talking about the attire in general. Do not relate it to this case because it is unfair.
Labels: News
Tuesday, November 14, 2006
Pervert old sexist mxxxer fxxxer
Labels: News, Thoughts and Musings
Sunday, November 12, 2006
Penang Municipal Council president Datuk Abu Bakar Hassan is one heck of a HUM SUP old man!
Labels: News
Saturday, November 11, 2006
First BM then English, now BM again
Labels: News, Thoughts and Musings
Friday, November 10, 2006
Ungku Aziz is Pak Lah's supporter
KUALA LUMPUR: Three factors distinguish Prime Minister Datuk Seri Abdullah Ahmad Badawi from his four illustrious predecessors, said Royal Professor Ungku Aziz.
He said Abdullah was the first Prime Minister to declare an unambiguous priority for the dejected rural people, as compared with the others who relegated this to a lesser position in favour of industrial development.
Ungku Aziz said the second factor was that, in line with his noble aim, Abdullah was making a game attempt to redress the imbalance of rural poverty.
“Thirdly, unlike some people who melepas batuk di tangga (are superficial), Abdullah has sincerely and boldly come out in favour of genuine national unity embracing all races,” he said in his speech at the launch of the Royal Professor Ungku Aziz Chair at Universiti Malaya.
Abdullah was a former student of the university more than 40 years ago.
Labels: News
What A PIG!
Labels: News, Thoughts and Musings
Thursday, November 09, 2006
Dr M is on the Front Page again!
Labels: News
Friday, November 03, 2006
Zakaria QUITS...finally!
Labels: News
Thursday, November 02, 2006
The Infamous KIASU
Labels: Thoughts and Musings
Wednesday, November 01, 2006
Bo Bui Gai Wak
The not-so-latest Jackie Chan caper Rob-B-Hood starring himself, Louis Ku and Baby Matthew is a must watch for the season!
I got to watch it on the first day of showing in GSC, Gurney Plaza in Penang when I accidentally came across the poster upon entering the shopping complex with my best friend, KC. He then suggested that we watched it. The queue wasn't that long so finally we bought the ticket. Lucky for us that it was a Friday and we brought along our student card. Thus we get an RM5.00 for the movie!!! The normal price was RM10.00!!!
Jackie Chan played a compulsive gambler named Thongs and Louis Ku played ladies' man Octopus. They will steal anything to support their addictions to gambling and the good life. The film started with the two stealing medicine from a hospital. This turned into the best scene to start a film as the two switch from stealing medicine to rescuing a baby (Baby Matthew) plucked from the arms of his mother by her ex-boyfriend, Max.
Thongs and Octopus usually get their assignments from their landlord (Michael Hui), now set to retire with a safe full of cash and a delusional wife clutching a baby doll as if it's their real infant, who died years earlier. But when the landlord is robbed, he convinces his reluctant associates on a kidnapping job expected them to land on a huge sum of money!
The target is the same baby the boys rescued earlier. Thongs and Octopus wind up looking after the baby, resulting in the usual gags that appeal to audience for whom the mere sight of a gurgling infant elicits smiles. By the time the dynamic duo is forced to hand over the bundle of joy to Max's Triad boss father, they've developed a bond too paternalistic to permit any harm upon baby Matthew.
Isn't he adorable?
I think I'm hopelessly in love with Baby Matthew!!!