Najib is guilty of incompetence, he says: board to be blamed for 1MDB debacle, not me, I don’t know !


Dr M: Najib always assumes people are stupid 

‘Najib assumes M’sians are stupid’

Every bit of money that was borrowed by 1MDB had Najib’s signature, says PM

It is impossible for Datuk Seri Najib Tun Razak not to know of transactions related to 1MDB when his signature was on the documents, says Tun Dr Mahathir Mohamad.

The Prime Minister said he could not believe his predecessor’s claim that he knew nothing about money from the state fund ending up in his personal account.

“Who wants to believe him (that he didn’t know), when he signed (his name)?

“Every bit of money that goes in and out of the first borrowing of RM42bil, all (had) his signature,” said Dr Mahathir.

The amount refers to the total debt accumulated by 1MDB, a fund which was, in fact, founded by Najib in 2009.

“If he doesn’t know, it must be that he doesn’t understand what a signature means,” Dr Mahathir was quoted as saying in an interview with the Malay Mail yesterday.

Dr Mahathir described as “ludicrous” for someone to direct RM2bil to be transferred into his account, while refusing to be informed of the transaction.

“This cannot be. Because I have to sign to use the money.

“To use the money, I have to issue cheques. Najib always assumes that people are stupid,” Dr Mahathir added.

It was previously reported that about US$700mil (RM2bil) was allegedly misappropriated from 1MDB into Najib’s personal account.

In a Reuters report on Wednesday, Najib blamed his advisers and the 1MDB board for keeping the alleged embezzlement information from him.

He said he did not know if hundreds of millions of dollars that moved through his personal account was from 1MDB, and if money from the fund was eventually laundered to acquire assets globally, including yachts, paintings, gems and prime real estate.

To this, Dr Mahathir said the Government had all the information on Najib’s alleged involvement in moving the 1MDB money, and that it knew how much money had gone into Najib’s account.

On Wednesday, the Prime Minister disclosed that the authorities had “an almost perfect case” against Najib for embezzlement, misappropriation of funds and bribery.

1MDB had fallen RM42bil in debt since its inception in 2009, and Dr Mahathir had been at the forefront raising questions on it over the past three years. -The Star

Najib: If I was informed about the troubles the fund was in, I would have acted

He does, though, have explanations for the vast sums of cash, luxury handbags and jewellery recently seized from his homes by the Malaysian authorities.

Speaking to Reuters in his first sit-down interview since his shock May 9 election defeat, Najib said his advisors and the management and board of 1Malaysia Development Berhad (1MDB), had wrongly kept the alleged embezzlement of funds a secret from him.

Newly-elected Prime Minister Tun Dr Mahathir Mohamad told Reuters on Tuesday that the authorities have “an almost perfect case” against Najib on charges of embezzlement, misappropriation and bribery linked to 1MDB.

Najib, in some of his most extensive comments yet on the 1MDB scandal, said he did not know if hundreds of millions of dollars that moved through his personal account was from 1MDB, and if money from the fund was eventually laundered to acquire assets globally, including yachts, paintings, gems and prime real estate.

“I’m not party to the yacht, the paintings…I’ve never seen those paintings whatsoever,” said Najib.

“I was not aware of these purchases. This was done without my knowledge. I would never authorise 1MDB funds to be used for any of these items. I’ve been in government so long, I know what’s right and what’s wrong,” Najib said in the interview held at a luxurious sea-facing private villa in a five-star hotel on Pulau Langkawi.

He blamed 1MDB’s board, saying it was incumbent upon them to tell him if something was wrong.

Relaxing in a black T-shirt and brown pants, Najib said he was enjoying golf, food, and time with his family.

The family booked the villa to celebrate Hari Raya holidays together. Najib’s children, including stepson Riza Aziz, a Hollywood film producer, were with him for the week, his aides told Reuters.

Malaysian investigators looking into 1MDB say they believe that Najib and his wife Datin Seri Rosmah Mansor have amassed vast amounts of wealth and property using funds from the state fund.

Rosmah briefly appeared at the interview but Najib said she would not take questions.

Nearly 300 boxes of designer handbags and dozens of bags filled with cash and jewellery were among the items taken away by police in raids at properties linked to Najib’s family.

Items included Birkin handbags from the luxury goods maker Hermes, each worth up to hundreds of thousands of dollars.

Najib said the public seizure of handbags and other luxury items created a negative perception but most were gifts given to his wife and daughter and had nothing to do with 1MDB.

“Yes these were gifts, particularly with my daughter’s they were tagged, they were actually labelled: when, by whom,” adding that a lot of them were wedding presents.

Najib said his son-in-law Daniyar Nazarbayev, the nephew of Kazakstan president Nursultan Nazarbayev, also gifted many of the handbags to Rosmah.

“People might find it hard to understand, but my son-in-law for example, he gets Birkin from his source, five or six at one go,” he said.

“His family has got some means, so it has nothing to do with 1MDB if it comes from Kazakhstan.”

US prosecutors have alleged that more than US$4.5bil (RM18.02bil) of 1MDB funds were laundered through a complex web of transactions and shell companies. The US Department of Justice (DoJ) has filed several lawsuits to claim about US$1.7bil (RM6.8bil) in assets believed to have been stolen from 1MDB.

Some of the assets sought include a Picasso painting, luxury real estate in South California and New York, shares in a Hollywood production company and a US$265mil (RM1.06bil) yacht, and more than US$200mil (RM800.9mil) worth of jewellery – including a 22-carat pink diamond pendant and necklace.

Najib said this jewellery set was also meant to be a gift for his wife but she never received it.

“And until today we do not know…she says the item is not in her possession,” Najib said.

In the interview, Najib for the first time also spoke at length about Low Taek Jho, a Malaysian financier better known as Jho Low.

US and Malaysian investigators have named Low as a key figure who benefited from 1MDB funds.

Najib said he felt that Low’s connections in the Middle East, particularly with Saudi Arabia and the United Arab Emirates, could be helpful in pulling in more investment to Malaysia from those places.

But he said he had never instructed Low to get involved in 1MDB, and had no control over what he did.

“I didn’t give him instructions, but he volunteered to do certain things, which he thought would help 1MDB. But whatever he did ultimately is the responsibility of the management and board.”

Malaysia is seeking to arrest Low, believed to be residing abroad, for his involvement in the 1MDB scandal.

He described Low and Najib’s stepson Riza as friends but said he was not aware of any dealings involving 1MDB funds in Riza’s Hollywood production company, which produced The Wolf of Wall Street among other movies.

When asked if he was still in touch with Low, Najib said:

“We have cut off communication again. I don’t know where he is.”

Low’s lawyer did not immediately respond to a request for comment.

Najib has consistently denied any wrongdoing in 1MDB. He has said US$681mil (RM2.72bil) transferred into his personal bank account was a donation from Saudi Arabia, and not as US lawsuits have alleged misappropriated funds from 1MDB.

Najib said he had been given assurances from the late Saudi King Abdullah bin Abdulaziz Al Saud that Saudi Arabia would be sending a donation.

“All I knew, I accepted at face value that this is coming from the Saudis, from King Abdullah at his behest, at his instruction,” Najib said. – Reuters

 

Najib: I did not benefit from 1MDB in any way 

 

His say: ‘If anyone is found to be on the wrong side of the law, let the legal process take its course.’

LANGKAWI: Former prime minister Datuk Seri Najib Tun Razak has denied that he benefitted from 1MDB, adding that he believed that the sovereign fund had been created to do “something good for the country”.

“If I knew there was going to be misappropriation of funds, if that was my knowledge, I would have acted,” he said.

To a question if he blamed the 1MDB board for the fund’s troubles, he said:

“No. I am saying as a general principle, if they are in the know that something is not right, then it is incumbent upon them to tell me. It is the fiduciary duty of the board and the management to do the right thing. I expect them to do the right thing and to follow the law.”

He also said that they had no control over what Jho Low – who has been named the main suspect in the 1MDB investigation – did, adding that he could not pass judgment.

“But there are certain things which he may or may not have done. But I am right to say that investigations should proceed and if anyone is found to be on the wrong side of the law, let the legal process take its course.

“No, he was not working on my behalf. All those items he never invoked my name but he did say he was acting for someone else,” he said.

Asked who Low was acting for, Najib said: “You have to ask him that.”

He also said that he had not talked much about the 1MDB allegations because all these things happened out of Malaysia and that there were some “international ramifications” if he were to name certain prominent individuals who might affect the country’s diplomatic relations.

“I would also like to place on record that (his step-son) Riza has done very well – the movies, the box office sales has reached beyond RM3.2bil. So, it is not abusing concern. It is a profitable concern. But source of funding is subject to investigation. I think we will leave it at that.”

On RM2.6bil that was moved into his personal account in 2013, he said with the general election coming then, he had not wanted to get funding from companies as they would expect something in return eventually.

“If I have a source of funding, I could fund the elections and I could also do a lot CSR (corporate social responsibility) work without being obligated to anyone. That was my real intention you see. And I assumed everything was fine,” he said, maintaining that the RM114mil ringgit allegedly seized during investigation into 1MDB to be “genuine donations because the raid happened just two days after the 14th General Election. As president of the party, I had to prepare for the elections, and elections are very expensive affairs.

“Because donations are made in cash in election times. You don’t send cheques during election times, because people want cash. That is when monies are disbursed accordingly.”

On Barisan Nasional’s defeat in the elections, Najib said he saw part of it coming but that he did not expect it to be this catastrophic, blaming it on Opposition’s allegations that changed public opinion.

On the reopening of the Altantuya Shaaribuu murder case, he said the case had already been dealt with and denied that there was any evidence that he had ever met her.

“There are no records, no pictures or witness to say that I even knew her. It was subject to a proper trial and my name didn’t come up during the trial whatsoever.

“I’m on record to have sworn in a mosque in the name of Allah that I had nothing to do with the case.” – The Star

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Impact of manifestos policy lead from Malaysia’s General Electioon (GE14)


Market impact: The reaction of investors following the past two GEs is an example of how investors value certainty and how Bursa will be affected in the event of a Pakatan victory this time around.

 

Policy directions from political pledges have business and economic consequences.

EVER since Parliament was dissolved ahead of polling for the 14th general election (GE14), the combustible campaigning period has been mirrored by the volatile stock market.

The FBM KLCI hit an all-time high of 1,895 points on April 19, just a week after the dissolution of Parliament, but has since tracked lower as election day nears.

With the market edgy prior to polling day, UOB KayHian in a note on the election says that the election factor is a short-term sway phenomenon.

“While unexpected election results can be a significant market sway factor in the near term, such market reactions have been short-lived in the past.

“For example, when the Barisan Nasional’s control of parliamentary seats surprisingly slipped below two-thirds during GE12, the FBM KLCI plunged by as much as 9.5% in a day, triggering a trading circuit breaker at the worst level,” it says.

The research house notes that the FBM KLCI recouped most of the losses within a couple of weeks, once investors were assured of the continuity of political stability and business-friendly policies.

Both Barisan and Pakatan Harapan are mindful of maintaining business-friendly policies, it says. “Pakatan has on various occasions highlighted that it will generally uphold the sanctity of government contracts should it win the election. Eventually, equity markets will be dictated by external and domestic economic fundamentals and liquidity considerations.”

Market volatility and fierce campaigning do go hand-in-hand, given the uncertainties the outcome of the GE will bear on the stock market and businesses. Experts have said that the direction of the ringgit and also the economy will be determined after polling day as the country charts its political, along with economic and business, direction for the next five years.

“If Barisan wins, it will be seen as a vote for continuity. It will be business as usual, given the various plans and policies the Barisan government has laid out in the past and for the future,” says an economist.

“For businessmen, that mindset of what to expect is important for future planning and direction and they will like not to have any anxiety on what to expect in the future.”

The economic and business direction

The Barisan government, which has been in power since independence, has a track record of what it has done and will do for the country when it comes to business and economic planning.

The various Malaysia plans, budgets and policies announced over the decades have plotted the economic direction of the country. But in recent times, some will look at its manifesto as to the future policy direction the country will adopt should it retain power.

Policy promises are something more voters pay attention to these days, and judging by the manifestos of Barisan and even the Opposition, their documents are detailed with measures they will carry out in the impending five years.

For the Barisan government, the launch of its manifesto was done with much pomp, with it even detailing how it has fulfilled 99.4% of its 2013 manifesto pledges. Much of the focus of its latest manifesto is on the people, in order to lift their incomes and well-being.

These promises include raising the minimum wage in phases to at least RM1,500 within five years to setting up a Fair Works Commission to ensure that the salary levels of private-sector workers are more equitable.

BR1M recipients who enrol in higher education institutes will, meanwhile, receive a one-off assistance of RM1,500 plus there are a slew of measures for the country’s Felda settlers and their family members who are spread out over 317 settlements in 54 parliamentary seats nationwide in the manifesto.

Barisan is also promising to create three million jobs, and among the measures promised to help achieve this is by speeding up the development of the Malaysian Vision Valley, a 150,000ha area that is projected to create 1.3 million job opportunities.

On housing, the manifesto pledges a number of measures including setting up a special bank to facilitate loans for affordable and low-cost housing priced RM300,000 and below.

In addition, tax incentives or development funds will be provided to encourage banks and housing developers to offer rent-to-own schemes.

CIMB Research in a note on Barisan manifesto points out the key pledges which include low-income households, Felda settlers, females, the elderly and farmers.

It points out that the key promises include a top-up on the BR1M payments, raising the minimum wage to RM1,500 within five years, potential revisions in personal and corporate income taxes, expansion of affordable housing aid, special incentives and funds for Felda settlers, and subsidised public transport passes, broadband and other consumer goods/services.

It says that the additional BR1M payments will amount to at least RM3.71bil or 0.25% of gross domestic product (GDP) in 2018, which comes on top of the prior week’s civil servant pay hikes of RM1.46bil effective July 1.

“New spending commitments imply that the budget deficit is unlikely to improve significantly from the target of 2.8% of GDP despite windfalls from higher oil prices and GDP growth,” CIMB says.

It believes the market is expecting the ruling coalition, Barisan, to win the majority of the Parliament seats.

“We view Barisan’s widely expected win as neutral to positive for the market. The stock market’s performance post-election will depend on the degree of selling pressure during the campaigning period and the poll results.”

What the additional cash injection to households will mean is a lift in consumer spending. Consumption is a big driver of the economy and the BR1M payments have been one of the reasons for the steady performance of domestic demand.

“Furthermore, the economy will get a lift from the lift-off from projects that have already been identified for construction. The MRT, the high-speed rail between Kuala Lumpur and Singapore, and the construction of Bandar Malaysia will be some of the projects that will lift the construction sector and also the economy,” an economist says.

During the years when pledges from the past Barisan manifesto were being carried out, the economy had its ups and downs given the crunch felt by the collapse in crude oil prices.

The GDP, nonetheless, during the past five years has been positive, given the rollout of projects during that period. Growth came in at 5.9% in 2017 and was 4.2% in 2016, 5% in 2015, 6% in 2014 and 4.7% in 2013.

There have been concerns that spending pledges contained in the manifesto would leave a hole in government finances, but indicators so far do not point to that being a problem.

The government’s debt-to-GDP ratio has fallen below the self-prescribed ceiling of 55% to 51% and going by what the data shows in the first quarter, government finances seem to be holding up.

Nomura in a note says that Malaysia’s fiscal deficit was RM11.2bil in the first quarter of 2018, or 3.3% of GDP, which was below its forecast of 6%.

“This is smaller than any of the first-quarter deficits in the previous five years,” it says.

Nomura says revenue collection appears to have exceeded expectations significantly, surging by 16.5% year-on-year in the first quarter and was likely boosted by higher oil prices and possibly some lagged effect from strong GDP growth last year.

“However, more surprisingly, spending appears to have been quite restrained, falling by 2% despite the GE on May 9. Spending details have yet to be released but such restraint may prove temporary with the government likely concentrating the use of its fiscal firepower closer to election day,” it says.

“This likely explains the government’s confidence in maintaining its 2018 deficit target of 2.8% of GDP despite announcements of additional cash handouts around the election.

“While we continue to expect government spending to spike in the second quarter, the surprising outturn in the first quarter suggests that fiscal tightening in the second half may be less severe than we currently forecast,” it says. By Jagdev Singh Sidhu The Star

Election a short-term market sway phenomenon

THE consensus is for the Barisan Nasional to win the upcoming general election (GE) to be held next Wednesday. But what if Pakatan Harapan were to win?

The immediate implications of a Pakatan win will be on the financial markets. The other implication is the impact in the mid to long-term of a Pakatan win on the economy.

The financial markets

There is no precedence for a win by the parliamentary Opposition in Malaysian history, and because investors prefer certainty, the financial markets are sure to be volatile.

The reaction of investors following the past two GEs is example of how investors value certainty and how Bursa Malaysia will be affected in the event of a Pakatan victory this time around.

The local bourse’s benchmark, the FBM KLCI, slipped 9.5% on the first day of trading after the 2008 election, which was held on a Saturday. This was after Barisan lost its two-thirds majority in Parliament for the first time and also lost control of five state legislatures.

In 2013, the stock market fell the week before the election on speculation of an Opposition victory at the federal level. That was the year when many felt sure that Barisan would lose. The Barisan clung on to power but lost the popular vote. The stock market rallied.

While there certainly was a reaction by investors, it must be noted that the Malaysian financial markets, including the stock market, do not act in isolation.

In 2008, fund flows were also influenced by broader movements in the global markets made volatile by the global financial crisis.

“Don’t forget that news flow from the US markets was bad on a daily basis,” a fund manager with an emerging-market portfolio points out.

Shortly after the 2008 election, Bear Stearns Companies Inc, an investment bank, was taken over by another investment bank, JPMorgan Chase & Co, in an operation largely directed by the US Federal Reserve (Fed), which was afraid of what the failure of a Wall Street institution would do to market confidence.

The fund manager tells StarBizWeek that investors just took the opportunity to offload riskier emerging-market assets following the outcome of the election.

“It’s normal to point to market swings either way to domestic factors but in reality, for the index to move, institutional shareholders must react and they rarely do so on just domestic factors, especially in that period of time,” he says.

The same reasoning goes for currency movements. The ringgit’s weakness in the past month has been blamed on investor jitters prior to the upcoming election, but pressure on the currency is really coming from rising US bond yields.

Investors are repositioning on market speculation of four instead of three US interest rate hikes and this has had an impact on emerging-market currencies as well as equity markets.

Although the Fed left the benchmark interest rate unchanged in a recent meeting, officials say that inflation is close to the 2% target. The market expects the Fed to raise the federal funds rate a second time in June when it next meets.

How this works is that investors are anticipating that new US government bonds will now be issued with a higher coupon rate, which is the interest that is paid out annually on the bonds because of the higher interest rates. Also, because of the anticipation, the earlier issued bonds, with a lower coupon rate, will now be traded at a lower price, and because there is an inverse relationship between bond prices and yields, there is a rise in bond yields.

This is why the benchmark 10-year US Treasuries yield is now higher, because the price has dropped, causing US bond yields to narrow against the yields of similar-tenor bonds of foreign government issuers.

For example, the yields between the 10-year Malaysian Government Securities and the 10-year Treasuries have narrowed, making Treasuries – because of its safe-haven status and underlying currency strength – a more attractive asset.

An interest rate hike also means that inflationary pressure is picking up because of economic growth and that will attract investors too.

The steady US economic outlook, US dollar strength and safe-haven status at a time of much geopolitical uncertainty are also attractive factors. Currency strategists point to US dollar movements as more important when taking into account the US dollar/ringgit pairing. The decisions of US policymakers as well as other external factors such as trade will have more weight on the ringgit’s direction rather than purely domestic factors.

Even the rising oil price has not been able to stem the weakness in the ringgit, and that is because of the investors repositioning rather than any inherent political risks.

However, a political analyst did say that without the higher oil price, the ringgit could have seen a steeper fall. “It could be that rising US bond yields is the reason for the ringgit’s weakness but I believe that political factors are at play too and that without the higher oil price, the ringgit would have fallen even more,” he says.

The economy

A Pakatan government will have to find a middle path in unravelling some of the more unpopular policies, while ensuring policy continuity and assuaging the concerns of investors.

Both Barisan and Pakatan claim to have the people’s welfare at heart, and both claim they want to alleviate the cost-of-living issue that Malaysians have been grappling with in recent years. The Pakatan coalition is also calling for the shaping of the nation’s economy in a fair and just manner.

The Pakatan promises must take into account the urgent need for the economy to move up the value chain. In one respect, a focus on high-end manufacturing will have a positive spillover effect, as such initiatives will attract high-end service jobs including banking and financial services as well as research and development opportunities.

The Pakatan manifesto launched in early March includes 10 promises to be implemented within 100 days of winning the election. Among the promises are the abolishment of the goods and services tax, reintroducing the petrol subsidy and increasing the minimum wage to RM1,500 by their first term in office.

Moody’s Investor Service analysts say in a report released yesterday that the implications on the country’s credit standing will be determined by the impact of the election results on existing government policies, with particular regard to fiscal consolidation and debt trend.

“Ahead of the election, Barisan and the key opposition, Pakatan, have both unveiled their manifestos and specific spending programmes targeted at key voter bases. These measures include raising the minimum wage, greater cash handouts and relief for Federal Land Development Authority settlers, among others,” they say.

The rating agency, which has maintained the country’s A3 credit profile with a “stable” outlook, says the impact of these programmes on the sovereign credit will depend on how they are funded and whether they have a negative effect by delaying the government’s ongoing efforts at fiscal consolidation.

“Economically, these programmes are likely to boost consumption over the near term but against the backdrop of Malaysia’s export-driven growth, the impact is not likely to be material and could be offset by inflation,” they note.

Another crucial promise is to launch detailed studies of multi-billion-ringgit projects awarded to foreign countries. This particular promise is likely aimed at China, which has become a major investor, if not the largest in recent years, with not only infrastructure projects but also property development.

Pakatan will have to tread carefully where reviewing contracts is concerned, as the sanctity of contracts is crucial to investor confidence.

“Any review of the mega-projects will have to be done in a tactful manner. Malaysia is not the United States, we don’t have the heft, so we need to be careful,” an analyst says.- by Fintan Ng The Star

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BN loss will see bad future ?


Towering achievement: The Tun Razak Exchange is one of the projects Ng says will be halted if the Opposition wins the polls. — Bernama

PETALING JAYA: An analyst has warned of a bleak economic future for Malaysia if the Opposition is voted into power in GE14.

About – CREATE – Centre for Research, Advisory & Technology

Ng Yeen Seen | 世界经济论坛

10ESD Conference 

Centre for Research, Advisory & Technology (fb)

Centre for Research, Advisory and Technology chief executive officer Ng Yeen Seen (pic) said Malaysia will be sidelined by China from the Belt and Road Initiative.

She said the Opposition will cease all China-linked projects such as the East Coast Rail Link, Tun Razak Exchange and the Country Garden Forest City development.

Malaysia’s palm oil industry problems will then be compounded with a boycott by China, she said.

She said many will be expected to lose their jobs if China decides to use another route to bypass Port Klang.

The abolition of the Goods and Services Tax (GST) will also result in a huge loss in revenue for the Government, she said.

According to her, government employees will be expected to lose their jobs as Petronas is no longer a formidable force like it was in the 80s, 90s and in the first decade of 2000.

“The Government will have to find alternative sources,” she said in a statement yesterday.

She added that this will result in national debt rising as it did in the 80s and 90s as privatisation will see a significant increase to sell more assets to “friendly parties” via cheap loans guaranteed by the Govern­ment.

Furthermore, as the Opposition has vowed to abolish tolls, Ng said the Government will have to borrow money from the United States, for example, in its plans to buy back these assets.

Ng said this was because the Government no longer had the oil money it once had in the past, coupled with China and the Middle East not being as strong as they were due to falling oil prices.

Although the abolition of BR1M will result in the B40 group being encouraged to work in newly privatised companies, she said this will hamper the nation’s dreams of becoming a high-income nation.

“To be globally competitive, these privatised companies will have to keep costs low and our high-income nation dreams will be destroyed,” she said, adding that foreign workers will return to compete with locals.

She pointed out that this will result in Industry 4.0 modernisation not happening and the country falling behind nations such as Thailand, Vietnam and Indonesia by 2023.- The Star

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DAP’s ‘king vs king’ strategy will rob the community of the worthy talents


GE14 will be about race, warn analysts |

‘The outcome of such a strategy will deprive the Chinese community of some good politicians’ – Tan Sri Pheng Yin Huah

Leaders against rocking the boat

This Saturday’s nomination day, DAP is facing increa­sing pressure from Chinese so­­cie­ty to drop its strategy to jiao mie (wipe out) outstanding Chinese lea­ders within the Barisan Nasional.

In the past two weeks, several Chinese guilds – which claim to be apolitical – have come out openly to oppose this DAP stunt which will see the DAP fielding its strong candidates against leading Chinese po­­liticians from Barisan’s MCA and Gerakan.

Many commentators within the community have also published their views in Chinese media ­ar­­guing against the DAP plan.

Most Chinese newspapers have also voiced their stand against this strategy.

In essence, many see this “king versus king” plan advocated by DAP as wiping out the limited number of outstanding political talents within the community.

Whoever wins or loses in the election, the Chinese community will lose a talent and the ultimate loser is the community, they argue.

The decision by DAP to transfer its political strategist Liew Chin Tong from Kluang to the Ayer Hitam parliamentary seat to collide head-on with MCA deputy president Datuk Seri Dr Wee Ka Seong has not been well received from the start.

Neither is the move to send Perak DAP chief Nga Kor Ming from Taiping to Teluk Intan to rock the parliamentary seat held by Gerakan president Datuk Seri Mah Siew Keong.

Among the Chinese associations that have made their opposing stand known are the Federation of Chinese Guilds in Malaysia (Hua Zong), the normally low-profile Federation of Kwang Xi clans and the Federation of Heng Hua clans.

Hua Zong’s president Tan Sri Pheng Yin Huah tells The Star: “We cannot interfere with DAP politics, but as a community leader I hope DAP can consider our views to change this election strategy.

“The outcome of such a strategy will deprive the Chinese community of some good politicians – ­whe­ther they are from Barisan or Opposition, and this is a loss to the community.”

Last Monday, Pheng issued a media statement to this effect. But in response, DAP secretary-general Lim Guan Eng alleged that Hua Zong was an “external organisation” of MCA.

Lim, in justifying the DAP strategy, said it would help the Opposition coalition Pakatan Harapan to win more parliament seats so as to take over Putrajaya to rule the country.

It appears that DAP is unlikely to change this unpopular strategy.

While Lim can ignore Pheng and the other Chinese community lea­ders who are not voters in Ayer Hitam and Teluk Intan, he should listen to the voices on the ground.

A professional in Ayer Hitam, who was my high school classmate in Batu Pahat, told me in my recent trip down south: “I normally support the Opposition, but this time I am going to vote for Wee Ka Siong.

“He is a good minister and has done so much work for the people. Everybody here can see.”

His feelings are shared by my other former Batu Pahat high school friends.

Prominent commentator Tang Ah Chai, who is normally more pro-Opposition in his analysis, has warned DAP to handle the discontent from Chinese society with caution to avoid backlash in the coming election.

“The Chinese community is worried that if there is little or no re­pre­sentation in government, their aspirations and voice cannot be effectively channelled to the top and their interest will be undermined. They experienced this when MCA did not join the Cabinet,” Tang commented last Friday.

Prime Minister Datuk Seri Najib Tun Razak has warned that there will be a cut in the number of Chinese ministers, in the event Barisan wins the election, if Chinese support for MCA and Gerakan dwindles.

While Pheng does not expect Lim to change DAP’s strategy, which has also been employed in Sarawak, other leaders hope Lim can turn a page on DAP history.

“Look at what happened in 1982 when Seremban sent a strong ­message that voters wanted MCA leader to stay on,” said one.

In the 1982 general election, in response to a taunt by DAP to contest in a Chinese-majority area, the then MCA president Tan Sri Lee San Choon contested in Seremban to face DAP chairman Dr Chen Man Hin, who had held that parliamentary seat since 1969.

Not only did Lee win in the battle, MCA scored a landslide victory – winning 24 out of 28 parliamentary seats and 55 out of 62 state seats it contested.

DAP was nearly wiped out in that general election.

One of Lee’s projects that have benefited many Chinese is TAR College to expand tertiary education opportunities for the Chinese at the time.

While the 1982 election has come to pass, the sentiment of Chinese against “king versus king” is still present.

by Ho Wah Foo The Star

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Penang Tunnel project to be scrapped, flood mitigation plans among BN manifesto


 

‘Tunnel project to be scrapped’

BUTTERWORTH: Six pledges and 60 initiatives – that’s what the Barisan Nasional will be armed with as it attempts to wrest Penang from the clasp of the Opposition.

In its “Save Penang” manifesto launched yesterday, the coalition listed resolving flooding, overcoming traffic congestion and halting hillside development as the top priorities.

State Barisan chairman Teng Chang Yeow said if it regained power in the state, the controversial undersea tunnel project to link the island to the mainland would be scrapped.

He said further land reclamation at Permatang Damar Laut and Gurney Drive would also be barred.

Teng also announced that areas 76m above sea-level would be declared permanent forest reserves to protect the hills.

On flooding, he said the Barisan would resolve the problem within three-and-a-half years, by installing water pumps and floodgates and implementing a Penang Flood Mitigation Plan.

Another priority was to build 65,000 affordable houses within five years, introduce rent-to-own housing scheme, set the price of a low-cost home to RM40,000 (including a free carpark) and between RM80,000 and RM120,000 for medium-cost units (including free carpark).

The other priorities were listed as economic development, people’s welfare, and tourism and heritage.

Among others, the Barisan pledged to remove toll charges for motorcycles, abolish the water surcharge, provide a special fund of RM2,000 to couples who tie the knot for the first time, provide school bus subsidy to eligible families, provide free parking at council roadsides and residential areas, and allocate RM15mil annually for national-type, religious and private Chinese schools.

The Barisan also pledged to abolish postage charges and other charges for bill payments, provide free water to hardcore poor, reintroduce traffic wardens in school areas, and not to increase water tariff for residential areas within five years.

Thousands of Barisan leaders and members who attended the launch cheered when Teng fired salvos at the DAP-led state government, claiming its leaders made 51 false promises over the last 10 years.

Also present were state Umno chairman Datuk Seri Zainal Abidin Osman, state MCA chairman Datuk Tan Teik Cheng, state MIC deputy chairman Datuk M. Nyanasegaran and leaders of Barisan-friendly parties.

Teng (middle) getting waves of support as he launches the Penang Barisan Nasional manifesto at The Light Hotel in Seberang Jaya, Penang. With him are Penang Umno liaison committee chairman Datuk Seri Zainal Abidin Osman (on Teng’s right) and Penang MCA chairman Datuk Tan Teik Cheng. — Photos: ZHAFARAN NASIB/The Star
Teng (middle) getting waves of support as he launches the Penang Barisan Nasional manifesto at The Light Hotel in Seberang Jaya, Penang. With him are Penang Umno liaison committee chairman Datuk Seri Zainal Abidin Osman (on Teng’s right) and Penang MCA chairman Datuk Tan Teik Cheng. — Photos: ZHAFARAN NASIB/The Star

Flood Mitigation plans among BN manifesto

BARISAN Nasional will get allocation from the Federal Government to alleviate flooding woes in Penang within three and a half years if it secures the mandate from the people.

Penang Barisan chairman Teng Chang Yeow, a former state exco member, said detailed infographics would be required to come up with an action plan as well as a drainage masterplan to resolve the problem.

“We have experience in formulating flood mitigation plans in the past.

“From there, we will take the matter up to the Federal Government to negotiate for the amount of funds needed.

“We also have an emergency manual outlining standard operating procedures for a state to manage when struck by floods, and this goes in tandem with the Federal  Government’s guidelines to create a clear chain of command. “We noticed that in recent years, places in Penang that had never been flooded suddenly experienced floods.

“This is due to poor planning, lack of drainage and failure to identify hotspots.

“The people have suffered because of poor coordination and help could not reach them in time,” he said at a press conference after unveiling Barisan’s manifesto at a hotel in Seberang Jaya.

Commenting on the pledge for 50% of Penang island city councillors and Seberang Prai municipal councillors to be appointed from independent bodies, he said the  representatives could join the planning committee to give their ideas.

Teng said that although landowners had the right to plan projects, those staying next door could voice their views including objecting to the projects if they were affected.

“But today, planners are not planning.

“Instead, politicians are doing the planning,” he said.

Teng said planning should be left to planners with expertise while politicians should only make policies.

‘Can fulfil promises’

Teng: Penang will receive more allocation if voted into power

 

//players.brightcove.net/4405352761001/default_default/index.html?videoId=5770690231001

DESPITE being an Opposition state, Penang has received RM2.08bil as allocation from the Federal Government between 2013 and 2017.

Penang Barisan Nasional chairman Teng Chang Yeow said the amount was the highest among the northern states.

He said Kedah received RM1.76bil followed by Perak (RM1.25bil) and Perlis (RM360mil) during the same period.

“We can fulfil all our promises in the manifesto. The state will receive more allocation if we win the state from Pakatan Harapan,” he told reporters after launching the Penang Barisan manifesto at a hotel in Seberang Jaya yesterday.

Asked why the monorail and LRT projects which were in the 2013 manifesto were missing from the present one, Teng said the people in the state had rejected both projects as Penang Barisan was not voted into power then.

“However, we are open to consultation with the people and those from the civil movements to revive such projects if we are voted into power in the upcoming general election,” he said.

On another matter, Teng said Penang never had it easy during the 22-year tenure of former Prime Minister Tun Dr Mahathir Mohamad.

“Penang was bypassed most of the time when it came to development projects.

“It was difficult for then Chief Minister Tan Sri Dr Koh Tsu Koon to get allocation for projects in Penang as the funds would not come.

“Dr Mahathir, for reasons best known to himself, did not allocate sufficient funds for Penang and most of the time we were bypassed,” said Teng, who was once a state executive councillor.

Click to view details

 

– By K. Suthakar, Lo Tern Chern, and R. Sekaran, The Star

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Barisan Nasional Youth volunteers posing for a group photo at the recent Penang Barisan Nasional manifesto launching ceremony at The Light Hotel in Seberang Jaya, Penang. — Photos: ZHAFARAN NASIB/The Star
Barisan Nasional Youth volunteers posing for a group photo at the recent Penang Barisan Nasional manifesto launching ceremony at The Light Hotel in Seberang Jaya, Penang. — Photos: ZHAFARAN NASIB/The Star

 

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Malay & bumiputra rural voters will determine the winners or losers of coming Malaysia’s GE14


Down the wire with the Malays

– With urbanites caught up in social media debates, it will be the quiet rural folks who determine the winners (and losers) of GE14

IF you haven’t already heard this one before, it will be the Malay and bumiputra voters, mainly in rural areas, who will determine what the next government looks like.

Despite the racket from urbanites, be it in private discussions or from the many irate postings on social media, it will come down to the relatively quiet rural folks who make up the decisive voices.

Out of the 222 parliamentary seats, there are now 117 rural Malay seats in Peninsular Malaysia, following the delineation exercise – up from the previous 114 Malay majority seats in the previous general election. There are 19 seats each in Sabah and Sarawak, with predominantly bumiputra voters.

These 117 seats include the 52 constituencies in Felda settlements regarded the heartland of the Malays, where the primary concerns are racial and religious in nature.

Another election monitoring group, Tindak Malaysia, reportedly estimated the Malay majority seats at 115 – up one seat from the previous 114, before the delineation.

To form the government, all that’s needed is a simple majority of 112 seats. Prior to the dissolution of Parliament, the Barisan Nasional had 130.

Donald Trump won the United States presidency firmly backed by the rural areas, and not from that of New York, Los Angeles or Washington DC. In fact, he lost the popular vote by a bigger margin than any other US president in history, but he won, via the country’s electoral system, which saw each state assigned several votes that go to the candidate who wins the public vote in that state.

His Republican party won in what is regarded as swing states, such as North Carolina and Ohio, with huge rural votes. In fact, he won 67% of the rural American votes.

In Malaysia, our voting system is much simpler with its “first past the post” format, based after the British electoral system. Again, popular votes don’t count. But like in the United States, it will be the rural folks who will be the determinants. In Malaysia, it won’t be the traditionally anti-establishment Chinese voters in cities.

In the 2013 elections, there were 30 Chinese majority seats or 13.5% of the parliamentary seats, according to a recent news report, quoting social media analytics firm Politweet.

“The proportion of ethnic Chinese voters in these seats ranged from 52.27% (Beruas) to as high as 90.94% in Bandar Kuching.

“These seats can be found in Penang (7), Perak (5), Kuala Lumpur (5), Selangor (1), Melaka (1), Johor (3), Sarawak (6) and Sabah (2),” it said. From the 30 Chinese majority seats, the DAP won 29 and PKR one.

But Tindak Malaysia has claimed that the number of Chinese majority seats has dropped to 24. There is also another stark fact; even without the delineation exercise, the number of Chinese voters has continued to shrink sharply.

According to Malay Mail Online, despite blaming Chinese voters for the decline in votes for Barisan, they, in fact, only formed about four million of the total 13.3 million registered voters. It quoted Politweet founder Ahmed Kamal Nava as saying that the Chinese vote “is going to become less relevant to both Barisan/Pakatan Harapan over time because the Chinese majority seats are going to become mixed seats and eventually, Malay majority seats”.

The report also said that a comparison between the GE13 electoral roll and the electoral roll for 2017’s first quarter showed that the Chinese voters’ projection has already fallen by over one percentage point in seven states and in 79 of the 165 seats in the peninsula.

Going by current trends, the projection is that the number of non-Malays will continue to drop further, with some saying that by 2050, there could be 80% bumiputras and just 15% Chinese and about 5% Indians.

In 2014, 75.5% from the live birth total were bumiputras, followed by Chinese, at only 14% with Indians 4.5%, and others 6%.

Based on calculations, the Chinese birth rate at 1.4 babies per family in 2015 from 7.4% in 1957 means that their position in Malaysia will fall from 24.6% in 2010, 21.4% in 2015 to 18.4% or less in 2040.

In the 2013 elections, realising that it is the majority Malay votes that will tip the scale, the DAP readily tied up with PAS, hoping they would be able to capture Putrajaya. The DAP aggressively pushed the Chinese to vote for PAS, and many did willingly, but the pact failed to materialise. PAS paid a heavy price for sleeping with the enemy, because the rural Malays simply couldn’t accept the Rocket.

A random survey on PAS’ core voter base – rural Malays – by online portal FMT, found that many viewed its alliance with the “kafir” party DAP suspiciously.

PAS emerged a major loser in the 13th general election, managing to grab only 21 of the 73 parliamentary seats it contested. It even lost Kedah. In the 2008 polls, it secured 23 parliamentary seats.

PAS president Datuk Seri Abdul Hadi Awang must have found his dabbling with danger a painful one. It didn’t help that the relationship between the DAP and PAS had soured following the elections.

Fast forward to 2018. The DAP, again, is explicitly aware the Chinese cannot hope to dump Umno without the Malays, so a new pact with PKR, Parti Pribumi Malaysia and Parti Amanah Negara has been forged.

It is even prepared to drop its iconic Rocket symbol, its organising secretary Anthony Loke admitting the Malays are wary of it.

The test now is whether the Malays in the rural areas will accept the idea of having Tun Dr Mahathir Mohamad and Lim Kit Siang, whom the former had demonised the past 30 years of his political life, as emblems of a party taking care of their interest.

If no Malay tsunami materialises, and if the Chinese, again, place their chips on the Opposition – which seems to be the sentiment currently in urban areas – then, it will be the third consecutive elections in which the Chinese would have bet on the losing side.

The implications will be far-reaching for the community, especially if the Chinese representation in the government is weakened or non-existent when it involves legislation with religious overtones. It will also mean the possibility of being cut off from the mainstream involvement in crucial policy making and areas of development.

More so with whispers of a tie up between Umno and PAS, in some form, after the general election.

If the Barisan continues to get the mandate, as expected, DAP could end up occupying the biggest seats on the opposition bench since the rest of the Malay parties are generally untested, with PKR the exception.

Not many city folk, with the rising political temperature, want to hear or accept that this is simply a fight in the rural Malay heartland. Reality check: it will be the Malays and bumiputras who will have our fate in their hands.


By Wong Chun Wai, who began his career as a journalist
in Penang, and has served The Star for over 27 years in various
capacities and roles. He is now the group’s managing director/chief
executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the  occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.
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Penang Forum Planning for Penang’s Future


NGO draws up own manifesto to assist the next state government

(From left) Anil, Ben, Dr Chee, Khoo Salma, Dr Anwar and Dr Kam at the press conference to launch the Penang Forum Agenda 2018 at Penang Heritage Trust in Church Street.
(From left) Anil, Ben, Dr Chee, Khoo Salma, Dr Anwar and Dr Kam at the press conference to launch the Penang Forum Agenda 2018 at Penang Heritage Trust in Church Street. 

PENANG Forum, a loose coalition of non-political civil society groups, has come up with its own ‘manifesto’ with emphasis on three principles namely good governance, social inclusion and sustainable development.

Dubbed the ‘Penang Forum Agenda 2018’, six members shared insights into various areas that could be improved by the new state government.

The agenda, supporting transit-oriented development, walkable downtowns, mixed-income housing, public green open spaces and social inclusion was discussed by forum members comprising of activist Datuk Dr Anwar Fazal, scientist Dr Kam Suan Pheng, social activists Dr Chee Heng Leng, Khoo Salma Nasution, Anil Netto and Ben Wismen.

Khoo Salma said in the past 10 years, the state made progress on some fronts but it was over dependent on growth driven by the property sector and tourism.

“A far-sighted vision for Penang requires a paradigm shift to new urbanism, sustainable transport and environmental resilience.

“We are willing to work with the next state government to come up with different economic strategies so that we are not over reliant on the construction sector and mass tourism,” she told newsmen at the Penang Heritage Trust in Church Street after the event yesterday.

Khoo Salma urged the new government to look into making public buildings, spaces and transport accessible for people with disabilities.

“Employment and housing quotas should be fulfilled for them as well.

“Public facilities at council and state flats need to be updated to an elderly-friendly design,” she said.

Khoo Salma also urged for the new state government to adopt a comprehensive approach to the housing policy, prioritising social housing for the low-income category.

Anil said that affordable housing should be not more than three times the annual income for the middle-income group.

“It does not mean we need to stop building but we need to look at the needs of the population, we should look for property development for the two categories rather than high-end development.”

Scientist Dr Kam shared that the agenda was not only to give ideas to political parties but to survive beyond the campaigning period.

“If they like certain things or better still all of our recommendations, it would be great.

“I hope that the next state government will take a look at our manifesto and incorporate some of the ideas,” she said.

Dr Anwar said the Penang Forum Agenda would be shared with all concerned parties as well as posted online for the public to view.

For further details on the agenda visit https://penangforum.net/  by N. Trisha The Star

Penang Forum has a list of demands which it calls on Penang’s newly
elected officials of 2018 to act upon and deliver. These demands are
related to the three principles of good governance, social inclusion and
sustainable development. Read More

 

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