By the time Prime Minister Najib Razak announced his newly tweaked National Economic Model, Malaysia had experienced net capital out flows in the excess of US$27 billion from mid-2008 to mid-2009. Foreign Direct Investment had slowed to a trickle, US$15 billion of portfolio investment departed in 2009 and was slow to return.
This means that, despite the hype, Najib’s plan to revitalize the Malaysian economy was already too little and too late. And the greatest obstacle to economic reform and change was UMNO itself.
US Embassy communicates made available via WikiLeaks pointed to the various initiatives Najib had planned and was working on. At the core of these initiatives was a need to reform the whole economic model Malaysia had been relying on. In layman terms, this meant dismantling the NEP, a brainchild of former premier Mahathir Mohamad.
The turn of events ruffled feathers within UMNO itself, especially amongst the ruling elite, as these power barons depended on the various economic packages in the NEP to line their nests.
Full Article: The Malaysia Chronicle.
What does UMNO have to live for?
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Since the late 1980s, PAS has been painted by the government of the day as being the worst thing to walk the planet. That non-Muslims in Malaysia will suffer the wrath of hell, if PAS ever forms the government. And this fear was played to great effect, with the majority of the non-Muslim votes going Barisan Nasional’s way.
For most Sarawakians and Sabahans, PAS was the epitome of evil in Malaysia. A phantom whose only agenda was to deprive the non-Muslims of their right to practise their faith of choice.
This was the religious propaganda fed by Barisan Nasional to the masses, but of late, the 'spin' has boomeranged back into its own face.
Adapting to the times
As PAS moves forward, adapting itself to meet a progressively changing world, UMNO is stuck in a rut of its own making and has now been reduced to being the spectator-stand critic.
So what if PAS decides to have a change in management? At least, PAS is not afraid to take on the risk of changing or to try and take on new ideas. It certainly seems more secure about its supporter base than UMNO.
Full Article: The Malaysia Chronicle.
Seems like the tables have turned on UMNO.
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For the 1st quarter of 2011, the central government debt sits at RM430,151 million compared to RM407,101 million for the same period in 2010, i.e up RM23 billion. Of the RM430,151 million, RM425,831 million is medium and long term debt.
Domestic debt sits at RM414,217 million whereas in the same period in 2010 it sat at RM390,356 million. Again the medium and long term debt is the bigger bulk of the debt at RM409,897 million.
Plainly stated, the Government of Malaysia owes the central bank and funds like the Employee Providence Fund monies that run into the billions. Such debts are a mystery when you take into account that the central government operational expenditure has actually decreased. For April of 2011, the figure stands at RM13,769 million; a reduction compared to RM19,416 million for the same period last year.
Bear in mind the figures above are for the first quarter of 2011, there are still eight more months to go for 2011, and this figure would surely be on the rise if we take into consideration the pending General Elections and various other government initiatives.
Full Article: The Malaysia Chronicle.
Malaysia is in a grim state, heading the way of Greece.
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It should not be any surprise to Malaysians when Opposition Leader Anwar Ibrahim’s third attempt to dismiss the judge was turned down. The judiciary has firmly been working against Anwar since Sodomy 1 in 1998 and now in Sodomy 2.
The charge made against Anwar Ibrahim is under Section 377B of the Malaysian Penal Code. A rather odd and mind-boggling section to begin with.
Section 377 defines oral sex and any forms of sexual activity other than what is deemed natural both illegal and punishable by law.
Section 377B reads, “377B. Committing carnal intercourse against the order of nature - Whoever voluntarily commits carnal intercourse against the order of nature shall be punished with imprisonment for a term which may extend to twenty years, and shall also be liable to whipping.”
Note the word “voluntarily” - for the charge to be proven exactly, it must be proven that the accuser Mohd Saiful Bukhari Azlan voluntarily allowed the act to be commit, which makes him also liable for charge under the same statute.
Full Article: The Malaysia Chronicle.
Why there is no such thing as a fair trial for Anwar Ibrahim.
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Khairy is no ordinary Youth leader. He is not only enormously wealthy but also richly connected. Khairy is the son-in-law of former premier Abdullah Badawi and has previously been reported to have said he wants to be PM by age 40. The Oxford graduate is now 34.
There is widespread belief that during the 2006 Altantuya trial, Badawi was prepared to take Najib out of the picture. It would have worked if not for the insistent hand of Mahathir Mohamed, who still itched to control and govern the country despite retiring in late 2003.
Dr M wanted to ensure that Najib, who was then the DPM, would replace Badawi, whom he hated for scrapping several of his beloved mega-projects and thereby stopping the tap of benefits accruing to these deals from flowing back to him.
The grandfather of Malaysian politics was pulling strings to eject Abdullah and his hand is evident in how the whole trial was mismanaged by the Malaysian judiciary and police department. A fact which was clearly stated in the US Embassy cables released via WikiLeaks, with one cable calling it, “prosecutorial misconduct”.
The cables also drew attention to an attempt by Badawi to use the Altantuya trial to sink Najib. It was an attempt which Najib fended off successfully with help from the powers that be in UMNO and their corrupt hold on the various institutions of government, such as the police, the immigration and even the judiciary.
Full Article: The Malaysia Chronicle.
There is a new player in town.
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