Tuesday, August 5, 2008

More bad news on the economic front

This is something most of us already know but the problem seems to be more pressing. Malaysia is missing out on chances of attracting foreign direct investments (FDIs) due to the current political concerns. Investors should be coming to Malaysia because China and Vietnam have lost some steam but investors are adopting a wait and see attitude. But "wait and see" is no good because we are facing strong competition for foreign money. The same questions are being asked across the region - what's happening to Malaysia? When will the excessive politicking ends? But it doesn't look like it will end - there is the Permatang Pauh by-election, the likelihood of Anwar Ibrahim being charged for sodomy, the Umno and MCA party elections. Can we see some positive development only in Jan or Feb? We would have lost a good four to five months by then to our competitors. There are more concerns - The Edge Financial Daily reported today that Maybank could suffer total losses of up to RM3.5bil if it was forced to sell down the 20% block in PT Bank International Indonesia Tbj (BII) within two years. It's already bad enough that Maybank may have to lose the RM480mil deposit it had paid to Temasek Holdings for the purchase of the Singapore's company's stake of 55% in BII for RM4.9bil. The purchase of the stake had become a talking point in town, probably even in the region, because it was about 23% premium over the market price of the stock then. So the questions remained - who were responsible for this great idea of taking over BII? So, can foreign investors be blamed when they look at the state of Malaysia's economy? The last thing they need - and we need - are politicians who only care about themselves.

11 comments:

Anonymous said...

Are you referring to Najib Razak and Badawi then?

Anonymous said...

Dear Datuk,

You have rightly put that we have lost 5 months of lead time. The cause is just weak government and leaders. In the last 5 months there wasn't much done and no substantial plans for the nation to fight and survive the economic issues. Instead we still see wastage of large amount of public monies.

I'm afraid our PM is still not doing enough if not nothing at all to improve the situation. Many a times, he flip flop thereby making things worse. He seems unable to focus on the priorities that is the running of the nation thus allowing the constant endless politiking.

He and all the top guns still haven't got a grasp of what are the Rakyat wants and needs. We don't need sodomy cases, statutory declarations, missing pi and doctors, organised international meeting to explain how the conduct of DSAI sodomy case. All these is detrimental to Malaysia's good name and well being as a country of law and investors' confidence. Malaysia definitely don't need nor want negative publicity especially projected by our own government!

Hence how on earth can investors be confident in us given the present situation. Thank you Mr. PM and team.

Anonymous said...

As long as there's political uncertainty - everything will point downhill. As long as Anwar rants about being PM-in-waiting, everything will point downhill. And should Anwar bcome PM, we will all be at the bottom of the hill and drowning.

Anonymous said...

you are so damn right! politicians whom only care about themselves! go to hell BN, we have had enough of your abuse! we need new and SMART enough government to stir us to the right direction!!

Please sign your petition here to appeal to His Majesty the Yang DiPertuan Agong to register our concerns on the judicial appointments and to appeal for His Majesty’s intervention.

For further reference, follow here.
http://us2.malaysia-today.net/2008/content/view/10769/1/

If you wanna petition and make a difference to our jurisdical system today, do drop by here.

http://www.petitiononline.com/6ai18u26/petition.html

Thank you Malaysians! We deserve a better tomorrow!

bennyloh said...


SAD THING, STILL STUCK WITH BUTT'S RAGE

Mango said...

Lets hope Sep 16 can be a reality then. I am definitely looking forward to a new Govt and new PM.
The current one is too sleepy and lethargic. And the MSM is also to be blamed for being part of the Govt's piecemouth, even if it leaves a bitter aftertaste.

bennyloh said...

Still on Butt's Rage..

"2ND SODOMY REPORT IS OUT"!!

ewoon said...

Well said, WCW.

amoker said...

BN politicians should stop blaming the pakatan for their incompetence. It seemed that they can only work with 2/3 majority and are in total incapititation now.

Anonymous said...

S'pore has hardly any land and resources, but they had Lee Kuan Yew. Malaysia has much more land and natural resources, but it has the curse of UMNO...

The Malay Boy said...

Yeah , something to think about