RATING AGENCIES

1. We are not conscious of it but the rating agencies have apparently become a factor in the failures or success of businesses and even whole countries.

2. Their rating can make or break even big corporations. A huge European corporation finds itself unable to invest for fear that it would be downgraded and its shares would plunge. The losses would run into hundreds of millions.

3. Perhaps the rating agencies were only doing their job – letting the investing public know the situation the corporations are in. But they can be wrong or they can be influenced.

Continue reading RATING AGENCIES

DOW JONES

1. I don’t play the stock market but I cannot think of anything more silly than computer programmed buying and selling of shares.

2. The program can work if only a few players make use of it. But when the program is available to tens of thousands, then their concerted programmed buying and selling will surely affect the market.

3. Simultaneous buying by thousands of players will push up the prices very high while simultaneous selling by tens of thousands would push down the prices to extremely low levels.

Continue reading DOW JONES

RACIST LABEL

1. I was asked by a Chinese reporter recently why I said the Chinese did not vote Barisan Nasional in Hulu Selangor. To avoid ballot boxes being tempered with or getting lost the counting is now done at the polling stations.

2. Obviously if the voters in a given station is overwhelmingly Malay and the votes are overwhelmingly for PAS then we can assume the Malays at that polling station did not vote for the BN. Similarly if the voters at a polling station are largely Chinese and the votes are largely for Pakatan, then it is obvious that the Chinese there did not vote for BN.

3. Perhaps it is because Perkasa appears to be racist that the Chinese are against BN. But Perkasa is not BN. Also the Chinese parties in BN are facing a crisis. What is happening now is that Malays are forming Non-Governmental Organisations because of Chinese attacks against the Malays and UMNO seems unable to defend them.

Continue reading RACIST LABEL

NOT SO GENEROUS?


1. I am glad that Petronas is going to take part in the exploration and production of the two blocks we surrendered to Brunei. That still does not mean we will get much out of the deal.

2. Wisma Putra should make public the full contents of the agreement signed last year. When we give up what belongs to the people really, the people have a right to know. After all, Abdullah’s Government made a point about being transparent, implying of course that the previous Government was not transparent. So let us see transparency in this decision to surrender the peoples’ heritage. If as it is claimed we have not lost much, let us know how much is not much.

3. At the present price of USD83 per barrel (RM249.00), one billion barrels would yield USD 83 billion or RM249 billion. Forget the likelihood that the oil price would increase in future, how much would we get from Petronas’ involvement in the production.

Continue reading NOT SO GENEROUS?

MALAYSIA'S GENEROSITY

1. The Edge Financial Daily, an article by Joseph Chin (The Edge, April 22nd) as well as Brunei Times reported a substantial oil producing offshore area in the South China Sea, namely Block L and Block M, were no longer a part of Malaysia.

2. Malaysians and the Malaysian media did not ask how this came about. It would seem that the loss of a huge oil producing area that had apparently belonged to Malaysia is okay.

3. Block L and Block M had been claimed by Malaysia based on historical facts. Accordingly, Petronas entered into a production sharing contract with Murphy Oil to start drilling to produce oil. It is estimated that the reserves amounted to almost 1 billion barrels.

Continue reading MALAYSIA'S GENEROSITY

THE HULU SELANGOR BY-ELECTION

1. Barisan Nasional won the by-election by a majority of 1,725. It is a large constituency of 63,701. Although the BN garnered 24,997 votes, the opposition Pakatan managed to get 23,272 votes. Obviously Pakatan is still a force to reckon with.

2. Foreign observers and their local counterparts commenting on the results of the 2008 General Election asserted that the rejection of the BN was due to the electorate rejecting race-based parties i.e. rejection of racial politics. I had rejected this assumption. It was wishful thinking.

3. I believed that it was disenchantment with the leadership of the Prime Minister of that time that caused the BN to show such poor results. Malaysians still put race before even national interest.

Continue reading THE HULU SELANGOR BY-ELECTION

RACISM AND ANTI-SEMITISM

1. One of the most powerful political weapons is labelling. In one word a label can literally destroy the character of a person. After that anything he says or does would be tainted by the label he carries. He becomes no longer effective, politically.

2. He would be barred even from speaking the truth. The Jews won a great social and political battle when they were able to label anti-Semitism as defamatory. Even when what is said is absolutely true and is meant to correct wrong statements, it would be regarded as defamatory and rejected.

3. In Malaysia today the label that has effectively prevented the truth from being heard is “racism” and “racist”.

Continue reading RACISM AND ANTI-SEMITISM

EUROPE IN RECESSION

1. The recession is not yet over in the United Kingdom and the rest of Europe or in the United States. The British pound has devalued much against the Malaysian Ringgit and the Euro has come under strong attacks by the currency traders.

2. Not only are the businesses and banks being bailed out but whole countries (Greece and probably Spain) are being bailed out by the European Union. There seems to be no end to bailing out. They have completely forgotten what they told us in 1997-98.

3. The workers unions are still going on strike and the executives of failed banks and businesses are still demanding to be paid big bonuses. The public screams but there is nothing they can do about it as their money is used to bail out failed companies and banks.

Continue reading EUROPE IN RECESSION

IRAN DAN MALAYSIA

1. Saya lega membaca penafian Dato’ Sri Najib, Perdana Menteri bahawa laporan Malaysia sudah hentikan bekalan “gasoline” kepada Iran kerana projek nuklearnya.

2. Iran bukan musuh Malaysia dan Iran tidak pernah soal dasar dan kegiatan dalaman kita. Justeru itu tidak ada sebab kenapa kita harus soal dasar dalaman Iran.

3. Benar atau tidak Iran sedang mencipta senjata nuklear seperti yang dituduh oleh Amerika Syarikat bukan masalah kita. Ia adalah masalah Amerika Syarikat, sebuah kuasa militari yang terbesar di dunia, yang mempunyai lebih daripada 10,000 senjata nuklear, yang kononnya begitu takut kalau Iran memiliki dua biji bom nuklear di masa hadapan tetapi rela Israel memiliki sekarang lebih daripada 200 senjata nuklear.

Continue reading IRAN DAN MALAYSIA

HIJACKING THE SOCIAL CONTRACT


1. I wonder who is hijacking “social contract”.

2. In this brave new world people write about things with authority but without knowing anything or doing proper research.

3. True the constitution does not mention “Malay rights” but obviously the mention of the special position of the Malays implies recognition of certain positions and privileges that they hold. The leaders of the time, the Tunku, Tun Razak, Tun Sambanthan and Tun Tan Siew Sin understood the “special position” of the Malays as the indigenous people of Tanah Melayu, the “Malay Land”.

Continue reading HIJACKING THE SOCIAL CONTRACT