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By David Lang
The following stories may fire your imagination, pique your interest. Some say 1MDB is Malaysia's Sovereign Wealth fund; to others they asked what wealth fund when its total capitalization is just One million ringgit? But, then again, if you think you can look down on the pet idea of the Malaysian prime minister, think again. His idea has the potential of turning the now world famous - or shall we say, infamous - 1Malaysia Development Berhad into a giant corporation you can ever imagine - even bigger than Bill Gate's Microsoft! At least, it could be, if the original course is stayed. It was supposed to inspire Malaysians to think big besides advance growth, according to its slogans screaming out of giant bill boards throughout the country. 'Backed' by the finance ministry who owns it - which means money will never be the problem - it can only succeed. But..it didn't. It failed! That's why it may have piqued many people's curiosity. How can a company flush with cash and can borrow any amount (billions) anytime could fail? Well, this may be in line with your thinking. People have seen since its inception - I mean after its name was changed in 1999 from Trengganu Investment Authority (TIA) to the present - it hasn't done any business! I have used present tense deliberately. It hasn't done any business yet. I mean if you are in business you need to make profit or find ways to make profit. Or close shop. Oh, I had heard about their filings of tax returns and hiring of a couple of internationally known auditors to sign off on their balance sheets; but these concerned only the company's borrowings and interests to be paid. Two massive bonds were issued to the tune of $7 billions. To buy up power plants. Again I want to say if you are in business to make money even investing in independent Power Plants, it should be done with the view to making a profit. The decision may be long term or short term, it doesn't matter, it has to make money, or no deal. May be they have done the right thing. Maybe luck was not on their side. Still, the amount is staggering. I didn't know having or managing so much money can be a problem! But many - especially the Malays - have not given up hope yet. Yes, may be the durians are just ripening; may be they need time and may fall soon!
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!>The DRL Blog > News>Malaysia>opinion
Malaysia's Vision 2020
By:David Lang
Malaysia is supposed to be on its way to becoming a developed nation, by the year 2020. Will she make it (in less than five years -tick-tuck, tick-tuck)? There is no doubt the year 2020 is coming whether the country is ready or not, and if that will be the only requirement then Malaysia will attain that developed nation status on schedule. There is a question, though, Will Malaysia, or Malaysians, for that matter, be ready for that status as far as their affluence, quality of life's concern? Currently Malaysia's GNI per capita stood at US$10060. According to the World Bank high income economies are those with GNI per capita of US$12,745. And until Malaysians earn much more to be there, the developed nation status may not be achieved even by the year 2020. The futility of declaring a country a high income country when it's not, achieves nothing. May be even counter-productive; it lulls the country into false sense of success and premature celebration. Don't forget China reportedly overtook Japan as the world's second largest economy, but in actual fact China's citizens' ca pita income is a fraction of the incomes of the Japanese who earn $37,000. Chinese incomes range from $13,000. China's gross domestic product, taken as a whole, may beat Japan's, but in term of quality of life, and GNI per capita income, the criteria for a developed nation status, China still has a lot of catching up to do. That's why China still qualifies as recipient of Japan's economic aid meant for developing countries. Comparing with the Chinese per capita domestic product, Malaysia is even worse off. Unless the government bucks up and rushes to create more wealth for its citizens, the Vision 2020 dream may remain just that ..a dream.
Jun 29, 2013
'MCA go home' vs 'Where was DAP 13 years ago?' at Jonker Walk
What?! Gan qualified his being there as a survey, not to protest? Let alone to lead the protest? Did Mr. Gan Tian Loo realize that the MCA protest carries more weight than DAP protest many times over. The state government, being UMNO-led government, considers the DAP as the opposition working hand-in-hand with PAS and PKR to oust UMNO from power, rescinding the directive on the request from DAP leaders will make the party even more popular. I thought, at first, here come the MCA, finally to do what it's supposed to do. Then the expected happened. He got cold feet. The reporter who covered the protest reported Gan was suddenly cautious . He was like ..."I'm here to lend my support to..the .. no, wait! I am not here to support the traders - but just to do a quick survey! But I am glad to be standing here with the protesters but reporters, please put it down in black and white I am not, I repeat, am not here as part of the protest. This is the reason the MCA was shunned, I mean has been shunned by the Chinese. They do not represent the Chinese anymore. They cannot get things done anymore unlike in the old days. Gan admitted his meeting with the chief minister was fruitless, but would keep trying. Keep trying for what? He should stop embarrassing the MCA and reducing its credibility further by continuing to beg despite being rebuffed earlier. Again, this proved that the Malaysian Chinese Association has really completely lost its usefulness. If a small matter like Jonker Walk closure was beyond its power then, that 's it.
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Sep 7, 2016
Abdullah Rebuffed Them
The Chinese seemed to take all the jabs, elbows, upper-cuts, high-kicks, mid-ankle kicks and punches, in their strides. They are so rare in lodging a police report against anyone that if there is a race to get into the Guinness Book of Records, the Chinese will win hands down. The ex-judge or other Malays know they can make fun of or criticize the Chinese because they know there will be no backlash. Try saying something against the Malay customs, language, the sultans, or Islam and wait for backlash and hundreds of police reports - not by ordinary Malays, but by politicians and Angkatan this and Angkatan that NGOs. The Chinese should learn from the Malay NGOs and politicians, if they want to protect their rights. They can't expect the prime minister to protect their rights for them. Even if the prime minister heeded Seai Kie's plea and went after the former Court of Appeal judge, the judge would simply answer "I thought they didn't care!" It's good that the MCA starts to reassert their rights. Being the 2nd biggest population group in Malaysia after the Malays, they do have rights. Like mother-tongue education, for instance. But they have to fight for their own rights. The prime minister can only guarantee their safety or security.
The rest they have to depend on themselves, like the Malays. The Chinese may have stumbled on the fact that their voice was no longer heard as it used to be, but they themselves were to blame. In fact, when the Chinese are belittled or detained unfairly by the police, the MCA politicians never come forward to protest or assist the victimized Chinese, like they used to do in the old days. Back then, the Chinese knew they could rely on the MCA. That was the good old days. Not any more. Very sad. The MCA, like UMNO, was supposed to represent their particular community. When they didn't, or couldn't, then what's the use. Better disband and disappear. The crux of the problem of the MCA was their being labelled junior partners or subordinates. The MCA leaders had lost the respect of the Chinese community and UMNO leaders. Whose fault? The Chinese community's. The MCA leaders were only partly to blame. Nor was UMNO leaders faults. Don't forget it was the Chinese themselves, no ones else, who condemned the MCA leaders as cowards, no-manhood politicians, or subordinates to "big brother" UMNO leaders. To be fair, no UMNO leaders wanted to impose their overbearing will over the MCA leaders, it was the Chinese community and to a certain extent the MCA which invited the UMNOputras, as they are fondly called by the non-Malays, to lord over MCA or Gerakan leaders. UMNO leaders just slided into that ketuanan position. Since this had happened a long time ago you can't blame UMNO leaders for wanting to keep things that way. Everyone wants to lord over someone if they can. But the rot started during the Tun Abdullah Badawi's tenure as prime minister. This is what happened that would have harmed the non-Malays for a long time unless... What actually happened? One day, out of the blue, all top leaders of the non-UMNO BN components, came up with a list of grievances they wanted addressed, went to call on Tun Abdullah in Putrajaya to present their demands.They thought Abdullah was approachable and considerate, so they took the plunge; they were wrong! Abdullah was furious and he didn't mince his words. The likes of Samy Velu, Ling Liong Sik, Ko Tsu Koon or Lim Keng Yaik, to name a few, recoiled in horrors. The prime minister then unceremoniously rebuffed them, and none of the non-Malay BN partners ever recovered from that humiliation. And that event of loss of pride and its concomitant consequences signaled the irreversible decline, if not demise, of these parties. This is not to say that the MCA, Gerakan, or MIC are doomed. No! If there is a will there is a way. Whenever a controversy was ranging related to unfair acts or double standards by UMNO, many Indians or Chinese wish their leaders for once in life had the courage to stand up to UMNO leaders; that unless UMNO agreed to their reasonable demands they would pull out from BN. It would be interesting to know if UMNO caved in. So far no Chinese or Indian leaders had done that, though. Do you wish to know more?
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