Tuesday, June 30, 2009

No need to have 30% quota for companies seeking listing

The new policy will make Malaysia economy more vibrant and dynamic and Malaysia will be high up in the radar screen of investors.

The 30% bumiputra quota requirement for companies seeking to list on the Bursa Malaysia has been done away with under an overhaul of the Government’s economic policies to turn Malaysia into a more competitive economy.

Prime Minister Datuk Seri Najib Tun Razak said the policy changes had to be made because of the drastic changes in the global economic scenario since the inception of the New Economic Policy (NEP) and the failure of the Foreign Investment Committee (FIC) to produce the desired results of increasing the bumiputra equity.

He said, the overall macro target of the 30% bumiputra equity remains. We will move along the line of achieving a balanced society. We have to be fair to all communities.

It will be based on two important premises – that no one is marginalised or disincentivised. It’s a tricky balancing act but it’s do-able.

“In short, the FIC will no longer exist. We will replace it with an investment instrument called Ekuiti Nasional Bhd (Ekuinas), which is a private venture capital focusing on helping bumiputra entrepreneurs who have the potential and capability to develop into huge players domestically, regionally and globally.”

He said, Ekuinas would have an initial capital of RM500mil and which would be enlarged to RM10bil depending on the needs of identified entrepreneurs.

Sunday, June 28, 2009

Umno will fight to the last drop of blood to protect Malay rights

Deputy Prime Minister Tan Sri Muhyiddin Yassin said, Umno will fight to the last drop of blood to protect Malay rights, the status of the Malay Rulers, Bahasa Malaysia and Islam as these matters are enshrined in the Constitution.

He said the party would also fight to defend the rights of other races to ensure no one community would be oppressed.

He said the Malays should not compromise on these matters and urged them, including those living in Cherok Tuk Kun, to unite in protecting their rights.

“I mentioned Cherok Tuk Kun in Penang because of Pakatan Rakyat leader Datuk Seri Anwar Ibrahim who has sold his principles for politics.

“He is willing to destroy Malay unity, the Malay rights and even wanted to bring the Malayan Communist Party leader Chin Peng back,” he said.

Tuesday, June 23, 2009

PKR-DAP-PAS can’t take over the federal government

The PKR-DAP-PAS opposition pact rejected the proposed talks for a unity government with Umno which was mooted by PAS president Datuk Seri Abdul Hadi Awang. They were more interested in taking over the federal government in the next general election.

Under no circumstances will PKR-DAP-PAS opposition pact take over the federal government in the next general election.

I think I am not alone in saying I didn't see this one coming as the BN government is best equipped to serve the people. BN is a serious government which seriously pursuing development, economic recovery and social justice.

The BN government have worked hard to deliver upon the commitment to strengthen national security, to promote economic fairness, and to increase government accountability.

One should be convinced that BN efforts toward those ends are best served in the people. BN had strengthened its position following the appointment of Prime Minister Datuk Seri Najib Tun Razak and the introduction of the concept of "1Malaysia, People First, Performance Now" under Najib's administration.

The opposition parties should not underestimate the strength of BN. It is believed that BN will regain the lost ground in the next general election.

Friday, June 19, 2009

A vote for PAS was requisite for entering heaven?

BN deputy chairperson Muhyiddin Yassin said, voting neither BN nor PAS would automatically allow Muslims to enter heaven.

Muhyiddin Yassin

Instead, what prevents Muslims from entering heaven was the sins they had committed, and not their choices of political parties.

The bottom-line was that both Barisan Nasional and PAS were parties that uphold Islamic struggles but the difference was that BN was capable of developing the country.

BN's ability to develop the country is better than PAS under Nik Aziz.

Muhyiddin wants PAS leaders to forgive and forget Umno's for their previous conflicts and expedite ‘unity talks' for the sake of Muslim unity.

Thursday, June 18, 2009

1M'sia concept not imitation of DAP's M'sian M'sia

The 1Malaysia concept is no imitation of DAP’s Malaysian Malaysia concept, says Prime Minister Datuk Seri Najib Abdul Razak.

Prime Minister Datuk Seri Najib Abdul Razak

The two concepts have different connotations, he told DAP chairman Karpal Singh (DAP-Bukit Gelugor) who claimed the 1Malaysia concept was an outcome of the Malaysian Malaysia concept.

"It's absolutely not true that our 1Malaysia concept is a duplicate of the Malaysian Malaysia concept. The meaning behind Malaysian Malaysia is way different.

"Most importantly, it is not based on the country’s constitution, be it in its obvious form or hidden meaning." said Najib.

Only Nik Aziz posters in Manek Urai

As the rift between PAS leaders over the unity talks with Umno deepens, Kelantan PAS only wants the poster of Nik Aziz up for next month's Manek Urai by-election.

Nik Aziz

It is reported that that the move is related to Nik Aziz has been against the unity government talks right from the start, and he even lambasted Hadi openly in the Muktamar.

The proposal was mooted by Hadi and backed by his deputy Nasharuddin Mat Isa.

The spiritual leader has called all those who support such talks as 'Umno puppets'.

Saturday, June 13, 2009

Is PAS Umno’s puppets?

Ironically, there are now two factions in Pas which are for and against the idea of unity government between Barisan Nasional and Pakatan Rakyat.

Tan Sri Muhyiddin Yassin

PAS spiritual leader Datuk Nik Abdul Aziz Nik Mat, however, describing those who supported the idea as boneka Umno (Umno’s puppets). Nik Aziz also reportedly gave the impression that the proposal had come from Umno.

Responding to the statement, Deputy Prime Minister Tan Sri Muhyiddin Yassin said the idea for a unity government between Barisan Nasional and Pakatan Rakyat came from PAS president Datuk Seri Abdul Hadi Awang and deputy president Nasharuddin Mat Isa.

He said, instead Umno wasn’t the one behind the idea for a unity government between Barisan Nasional and Pakatan Rakyat.

He did not think the proposal for a unity government between Barisan Nasional and Pakatan Rakyat would become a reality as there were differences in opinions on the matter within PAS itself and the other Opposition parties.

However, he said, the Government was willing to respond to the proposal if it was mutually beneficial but would not do so now.

Tuesday, June 9, 2009

PAS betray non Malay supporters

DAP secretary-general Lim Guan Eng pointed out that as a coalition partner, PAS should not keep its allies, DAP and PKR in the dark over its ambitious plan to form a unity government in collaboration Malay–Muslim political power with UMNO.

Lim Guan Eng asking urgent respond and to request clarification from PAS on this issue to eliminate the misunderstanding has not come as a complete surprise but merely reflected the deepening crisis of the opposition coalition.

PAS are demanding to engage in talks for national unity, they are implicitly aiming the unity of the Malay community, gaining a position of power and become the national leader with the majority of Malays behind them, be in a position to introduce some form of Islamic governance.

Politically, PAS has sent mixed signals to its component partners in Pakatan and muddied the political situation. It seems that it might be the beginning of the end of Pakatan. PAS needs to get its house in order to avoid the undermine efforts internally and the opposition as a whole.

Should PAS moves towards UMNO, it will alienate their supporters and discredit as well as betrayal of the non Malay supporters who voted for the opposition especially PAS.

PAS leadership seems lack the accountability to its members and voters and ultimately will be split and lost support.

Saturday, June 6, 2009

Communist ideology could destroy racial solidarity

The Cabinet's decision to reaffirm the government's earlier decision not to allow the return of Chin Peng to Malaysia was right and justify in safeguarding sensitivities.

The brutality of the communist insurgents is the main reason that causes strong opposition to any suggestion to allow former communist leader Chin Peng to return to the country.

Ironically, the communist ideology should not be allowed to be revived in the country as it could destroy racial solidarity and undermine the development achieved by the people.

The communists were cruel to the extent of creating chaos, killing people. It had caused too much damage and grievance to the people and the country where many lives were sacrificed to break the communist insurgency and to keep the country in order during that era.

Although Chin Peng was no security threat, his return would still causes the social imbalance and it would be better for Malaysia to maintain the status quos.

There are many who vehemently oppose his return. This sentiment runs strongly in the elders especially those who fought him for Malaysia's peace and independence.

The Raja Muda of Perlis, Tuanku Syed Faizuddin Putra Jamalullail expressed disappointment over the suggestion for the government to allow Chin Peng, the former secretary-general of the Communist Party of Malaya (CPM), to return to Malaysia.

The Raja Muda, who is commander of Regiment 504 of the Territorial Army, said allowing the former CPM leader to return would cause anxiety in the people, particularly those who had been victims of the brutality of the communists.

Tuesday, June 2, 2009

GM Bankrupt

General Motors, the humbled auto giant finally filed for bankruptcy protection Monday in a deal that will give taxpayers a 60% ownership stake and expand the government's reach into big business.

The GM filed under section 363 of the U.S. bankruptcy code. The 363 filing allows GM to spin a new debt-free company quickly out of bankruptcy. It's basically the "Chrysler Plan."

General Motors bankruptcy is the third largest bankruptcy ever happen in US history and largest ever in manufacturing sector.

General Motors alone employ 92,000 in the United States and is indirectly responsible for 500,000 retirees.