Monday, November 30, 2009

Dubai is in a deep financial crisis

Dubai crisis began when the emirate announced that Dubai World would delay payment on debts for part of the USD59 billion in debt issued by Dubai world.

The causes:

i. the collapsing real estate prices
ii. Over-ambitious development plans, including artificial islands in the shape of a palm tree
iii. Spent heavily to acquire stakes in glittering properties like Barneys in New York and the MGM Mirage in Las Vegas.


i. The emirate economy is in a bad state
ii. Banks stopped lending
iii. Emirate stock market has plunged 70%.
iv. Luxury hotels are three-quarters empty
v. Shopkeepers in newly built malls are facing substantial drop in sales.
vi. Houses and cars are for sale everywhere
vii. property sale drop
viii. 50% of all the UAE’s construction projects, which are worth about USD582bn have either been put on hold or totally cancelled
ix. a huge trail of semi finished towers on the outskirts of the city stretching into the sandy desert.


i. Worry and a panic in the financial market as banks and financial firms lost in markets across the world
ii. spillover effects centered on fears that international banks could suffer big losses
iii. Economic slowdown and sales fall
iv. at least 25-percent contraction in the job market
v. commodities prices drop
vi. Gold price drops
vii. JPY, USD, and CHF are the big likely winners
viii. AUD, NZD, CAD and EUR would retreat

Friday, November 27, 2009

Are Dr Khoo Kay Kim and Dr Ridhuan Tee pulling BN’S leg?

It is ironic that the Chinese community always paid the honor to a person who earnestly contributed to the Chinese education in the country and otherwise.

Academician Prof Emeritus Tan Sri Dr Khoo Kay Kim who claimed that the Chinese education system produced copycats while Dr Mohd Ridhuan Tee Abdullah criticized the vernacular education system in the country.

In response to these criticizes, the Chinese community can not find any possible reason that could justify the claimed especially taking into account that Malaysia is a role model of multiracial country.

The Chinese community especially the educationalists not only condemn them but describe them as naive, arrogant and disgrace to Malaysian Chinese’s history in the country.

It is reported that the Chinese education supporters were very angry and disgusted and to the extent that their names have term synonymous with the word traitor.

Undeniably, language is the bridge to understanding. It is claimed that Dr Khoo Kay Kim is married to an Indian of Ceylonese Tamil creed while Dr Mohd Ridhuan Tee Abdullah is a Chinese convert married to Malay, they were not Chinese educated or never a Chinese medium educated. They were unable to understand the Chinese community situation, thought, feeling and the driving political sensitivity behind.

Indeed, the views expressed by two prominent academicians seem to be a particular challenge to Deputy Prime Minister and Education Minister Tan Sri Muhyiddin Yassin.

In a statement, Tan Sri Muhyiddin Yassin said that national schools might adopt the Chinese school model in the teaching of Mathematics and Science as the Chinese schools had done well in the two subjects in public examinations.

It is often claimed that many academician are anti-establishment and not surprisingly well planned overt or covert anti-establishment viewpoints unfavorable to the government especially targeted to severely tarnish the image of MCA seems to be happening regularly.

Intentionally, they present distorted views. This will not only weaken the credibility of MCA, but will probably fail MCA to keep the support for the Barisan Nasional.

At the end of the day, the move will threaten the political stability at times when political support is deteriorating. The strategy to usurp BN political power is the hidden agenda and a symbiotic relationship between academicians and opposition.

While the ruling party takes full advantage of its position to gain support and maintain power, it is not justify supporting the academicians to jeopardize the power of the ruling party.

Sunday, November 22, 2009

Is Khoo Kay Kim skillfully manipulating Chinese educational issue?

There is a need for extra sensitivity when proposals are based upon education, race and religion in multiracial society.

Ironically, a society can be ripped apart by the unwise handling of sensitive issues and causes political instability and the fall of the regime.

Khoo Kay Kim

Academically, it is not wrong for Prof Emeritus Tan Sri Khoo Kay Kim to propose a restructure of the national education system to introduce a single stream system but the act can be seen as systematic usurpation of ultimate BN political power.

Undeniably, the calls for a single-stream school system would mean that vernacular schools would cease to exist and it will generate political turmoil or cause MCA especially UMNO to lose its grip on power.

Ironically, Chinese education issue is a sensitive issue of the Chinese. It remained a taboo subject since independence.

Historically, vernacular schools have existed for more than half a century and there are about 1,000 Chinese primary schools and about 500 Tamil schools in the country.

Politically, the vernacular school system in this country is an area that is extremely sensitive. Even MCA championing the cause of Chinese schools but it is claimed that due to ineffectiveness of handling the issues, the Chinese have lost confidence in MCA. Many Chinese have felt betrayed and taken advantage of by its leaders and it caused MCA lost in the general election.

Unfortunately, it is claimed that the opposition and academician have done everything they could to discredit MCA as well as BN. They know fully well that the proposal contradicted the spirit of the Federal Constitution, which guaranteed the freedom to promote and develop the vernacular school system.

In fact, it is often seen that many academician are anti-establishment and not surprisingly anti-establishment news and viewpoints can be regularly heard.

The consistency of their overt or covert anti-establishment viewpoints that can threaten the stability and usurpation of political power is most welcome by opposition.

While BN hope for popular support from the local population, what right do we have to help someone to usurpation ultimate political power of the BN government?

Saturday, November 14, 2009

Mandatory inspection for vehicles above 15 years at Puspakom

New conditions under the National Automotive Policy (NAP) that makes mandatory inspection for vehicles above 15 years at Puspakom that will enforce on Jan 1.

The regulation will involve about a million vehicles, is among 18 new measures in the revised NAP to enhance the local automotive industry’s competitiveness and make for safer, more environmental-friendly and technologically sound vehicles.

Malaysia currently has 2.7 million cars on the road that are 10 years or older and the country has a very low vehicle scrap rate instead a relatively high average vehicle age.

Undeniably, to keep ill-maintained and not road worthy vehicles off the road is the responsibility of the authority, but not old ones that work perfectly especially those good roadworthy classics collector cars.

The new regulation is good for automotive industry as new car sales will go up as most people will consider it as being a longer period of ownership and resale as well as financing.

Ironically, it was claimed that the mandatory yearly inspection in order to get the road tax renewed is affecting the lower income group especially burdens used car dealers and affects their business.

The question arises: A fair sharing of the burden would have to be based on social justice, why support a policy which would have appalled them?

Thursday, November 5, 2009

Dr Mahathir: Chinese parents do no want their children to mix with other races

Former premier Dr Mahathir blamed the educationists for not wanting Chinese students to mix with Malay or Indian students.

Mahathir said that only Malaysia has the unique system of having different streams of education as other countries have only one stream despite having large migrant population. He cited United States, Canada and Australia as examples.

He also pointed out that even Switzerland, which has three official languages, has an education system which provides for students to learn all three languages in the same school.

“That is why I introduced the vision school (concept), which comprises three streams in one campus. That way, students of different races can at least meet each other,” he said.

However, he said that the system was rejected and that was the reason why Malaysians cannot achieve unity.

The question arises: Should particularities of the socio-historical and cultural background be taken into account while discussing the feasibility of national unity in Malaysia or otherwise?

Monday, November 2, 2009

New reward system for civil servants

People are being rewarded unfairly can be a huge de-motivator.

Undeniably, rewarding high performance equitably should encourage higher performance.

Ironically, the emphasis on being awarded appropriately for high performance is consistently being seen as the key drivers in increasing productivity and it continues to be one of the greatest challenges.

With increased competition in the government sector, getting the best civil servants into civil services in the first place is often difficult enough.

Thus, the government will introduce a new reward system to motivate civil servants and inculcate the culture of high performance in the public sector has clear impact on governmental performance.

Imperatively, it clearly shows that the government would not tolerate mediocrity or abuse of power.