YAU MOU GAU...CHOR!! (有冇搞..错!!)

Wednesday, March 19, 2008

16 new ministers



New Cabinet line-up announced
Full Cabinet List (pdf file)

PUTRAJAYA: Datuk Seri Abdullah Ahmad Badawi unveiled a new smaller Cabinet, dropped senior ministers and brought in 50% new faces yesterday, with 16 of the 32 ministers being newcomers. And in a surprise move, he also did away with parliamentary secretaries.

The Prime Minister, who retained the Finance portfolio, named Datuk Seri Najib Tun Razak as the Deputy Prime Minister and Defence Minister.

Abdullah told a packed press conference at his office here he had incorporated many changes to his administration to enable the government machinery to implement its responsibilities more effectively.


Cabinet trimmed to 27 ministries, comprising 32 ministers and 37 deputy ministers.

Six ministers from previous Cabinet dropped.

Sabah and Sarawak get more deputy ministers.

Datuk Dr Ng Yen Yen becomes MCA’s first woman minister.

Datuk Shahrir Samad makes a return to Cabinet after 21 years.

Tan Sri Muhammad Muhammad Taib named Rural and Regional Development Minister.

Former Maybank CEO Datuk Amirsham A. Aziz named Minister in charge of the Economic Planning Unit.

Prominent lawyer Datuk Zaid Ibrahim appointed as de facto Law Minister to reform judiciary.

Datuk Seri Shahrizat Abdul Jalil appointed special adviser to Prime Minister for women and social development.

Home Affairs Ministry and the Internal Security Ministry re-merged.

Unity, Culture, Arts and Heritage Ministry formed - National Unity and Integration Department absorbed into the Culture, Arts and Heritage Ministry.

Related Stories:New ministers and deputy ministers

Labels: , , ,

Wednesday, November 07, 2007

Full speech by Umno president Datuk Seri Abdullah Ahmad Badawi

Umno president Datuk Seri Abdullah Ahmad Badawi opened the Umno General Assembly this morning at the Putra World Trade Centre. The following is the full text of his opening address.

“STRENGTHENING CONFIDENCE – VENTURING INTO A NEW ERA”

Alhamdulillah, with God’s will, we are convene for the 58th UMNO General Assembly.

2. Our assembly this year takes place in the glow of the 50th Merdeka celebrations. This is also our first assembly for the next 50 years. Beginning the first national elections, UMNO, as part of the Alliance and subsequently Barisan Nasional, has formed the national government based on the principle of power sharing. It also spearheaded the drive towards independence.

3. The Malayan Government, considered to be lacking in experience, faced myriad challenges. Twelve years after independence, the nation was riven by racial riots that threatened its survival. Thanks to mutual understanding and a strong spirit of cooperation, we overcame this test. That dark time in our history became a valuable lesson that taught us the need to strengthen our unity.

4. In the aftermath of this tragedy, the Government introduced three major measures. First, the Rukun Negara was introduced as a national ideology to ensure national unity and safeguard the integrity of the nation. Second, the New Economic Policy was designed to develop our economy based on fair and equitable growth. Finally, the Barisan Nasional was introduced as an effective and inclusive political vehicle. The implementation of these three measures has brought success, guaranteed our survival and brought us the prosperity that we enjoy to this day.

5. Today, Barisan Nasional enjoys the support of the majority of Malaysians. We have formed the government continuously for 52 years. This achievement is testament to the party’s wise leadership and its committed membership. It is also the result of the cooperation we have formed with non-Malay communities, on the basis of power sharing and mutual understanding – an action plan that is realistic and pragmatic, giving priority to nation building and the welfare of the people.

ACHIEVEMENT OVER 50 YEARS

6. UMNO has done more than merely lead the government for 52 years. It has succeeded in building Malaysia into one of the most successful nations in the world, with an average growth rate of 6.3 percent per annum over fifty years. When we gained our independence, we ranked among the poorest countries in the world. Now, we are classified as a high human development index nation.Our nominal per capita income is RM20,900 – a 26 fold increase from the time of Merdeka.

7. The Government’s policy of encouraging private sector growth has resulted in total trade exceeding RM1 trillion for the first time earlier this year. We have recorded a positive balance of payments for 109 consecutive months.Our foreign reserves are now USD98.2 billion. Stock market activity is active and the Kuala Lumpur Composite Index has reached historic heights, touching 1413 points. Malaysia is recognized by the World Economic Forum as the fifth most competitive country in Asia.

8. These achievements are the result of our willingness to work hard. With the commitment of party members and the solid backing of the people, with the understanding of the public sector and in partnership with the private sector, I am confident that our competitiveness and productivity will continue to improve.

STRENGTHENING ISLAM

9. UMNO is committed to strengthening Islam and will not apologise for doing so. Islam promotes moderation. During the General Assembly in 2004, I laid out the ten principles of Islam Hadhari, an approach that was understood and supported by the component parties of Barisan Nasional. This proved that the approach to Islam as promoted by UMNO is fair.

10. Calls to return to the spirit of the Federal Constitution should be viewed in a positive light, interpreted with wisdom and without prejudice. The Constitution must be viewed as a whole, and selected clauses cannot be interpreted in isolation or out of context. The Constitution provides that Islam the official religion of the Federation but there is freedom to practice other religions.

11. Guided by the spirit of the Constitution, Malaysians of different religions must exercise mutual respect. Islam exhorts Muslims to respect the followers of other religions as stated in verse 108 of surah Al-An’ aam:

And do not revile those (beings) whom they invoke instead of God, lest they revile God out of spite, and in ignorance.
(al – An’aam:108)

12. It must be stressed that every action will cause a reaction. The disrespect and extremism shown by one party will elicit a similar response from another party. Violence by one side will breed violence from the other. Therefore, if we want our religion to be respected and understood, let us, in UMNO, show exemplary behaviour by respecting the followers of other religions and their needs.

13. We give assurance that UMNO will not endorse a narrow interpretation of Islam. UMNO opposes the culture of violence, we oppose a political culture that can disrupt the daily lives and commercial affairs of the ummah. Islam must not be downsized to fit the needs of a political organisation.Islam cannot become the exclusive domain of any single group.

14. UMNO believes that Islam will not grow, nor will it be respected if it is confined to rituals. If we fight for Islam, armed only with slogans and rhetoric, we will not achieve excellence. Indeed, the application of Islam through the prism of shallow minds and narrow interpretations can cause discomfort not only among non-Muslims, but among Muslims themselves. Overzealous enforcement can give Islam a negative image. Failure to understand the needs of adherents of other religions and denying them their rights runs counter to the spirit of the Federal Constitution.

As for such (of the unbelievers) as do not fight against you on account of (your) faith, and neither drive you forth from your homelands, God does not forbid you to show them kindness and to behave towards them with full equity: for verily, God loves those who act equitably.
(al-Mumtahanah: 8)

15. Islam must be explained to its followers, but also to non-Muslims. Islam must be identified as a religion that dispenses justice, prohibits inequity and rejects violence. There is nothing wrong with Islam, the error lies in the misguided actions by those who fail to interpret Islam and those who fail to practice it with open minds and rational thought. Muslims should concentrate on building on what makes Islam attractive. The Government’s stand is that Islam will be respected if it develops intellectual excellence, emphasises the pursuit of knowledge and concentrates on attaining economic success.

16. We have received international acknowledgement for our success in developing the Islamic financial system and in building a Halal hub, and these efforts are no less important that our individual obligations, our fardu ain. These efforts illustrate that Islam is contemporary and relevant in the modern economy. In fact, research in economy, science and technology are encouraged. We should give priority to these pursuits, instead of wasting time on polemics and rhetoric about rituals. Islam and the Ummah will be developed more quickly when Muslims can show excellence in the economy, science and technology.

17. Malaysia has continued to take great strides on become a premier global Islamic centre. In the Islamic Capital Markets, Malaysia accounts for two thirds of the world’s Islamic bonds, amounting to USD47 billion. In line with the Malaysian International Islamic Finance Centre (MIFC) initiative, Malaysia has liberalised the Islamic finance sector to encourage the participation of foreign institutions in banking, capital markets and takaful. In addition, we have taken a leadership role in establishing institutions such as the Islamic Financial Services Board and the International Centre for Education in Islamic Finance (INCEIF). The IFSB, which has a membership of 125 countries, works to coordinate regulations and standards internationally, whereas INCEIF is a university-level institution that develops human capital to meet the needs of the Islamic finance sector.

18. Malaysia is also committed to becoming a world class halal hub. The Government has been active in promoting the products and services of Halal Malaysia while strengthening its Halal certification. Our commitment is shown through the establishment of the Halal Industry Development Corporation to spearhead and coordinate a variety of initiatives. Malaysians, particularly Muslims should not forgo opportunities in the halal industry, which can potentially yield substantial returns. The size of the global halal market is RM2 trillion and there are more than 1.8 billion Muslims in the world. In addition, it is a communal obligation, a fardu kifayah for us to raise the status and increase the usage of halal products and services.

GOVERNMENT LINKED COMPANIES

19. In order for Government Linked Companies (GLCs) to achieve their objectives, the Government introduced a GLC Transformation Programme on 14 May 2004. Their consequent success has been tremendous.The market capitalisation of the top 20 GLCs has increased by 74 percent to RM253 billion and has had a significant positive impact on the performance of the performance of Bursa Malaysia. The companies involved have shown tangible improvements in their financial results and the restructuring of their operations. Some have strengthened themselves through acquisitive growth, some have successfully ventured overseas. The gains made by GLCs have bolstered investor confidence domestically and internationally.

20. The improved performance of GLCs benefits many people. Funds such as the Employee Provident Fund, Lembaga Tabung Haji and Permodalan Nasional Berhad, that all hold substantial shareholdings in many GLCs have received increased returns, which are distributed to deposit holders and investors in the form of dividends and bonuses. To illustrate, since the transformation process began, dividends declared by Lembaga Tabung Haji have risen from 4.3 percent in 2003 to 4.75 percent last year. Similarly, EPF have declared higher dividend rates – from 4.75% in 2004 to 5.15% in 2006.

21. As corporations with ties to government, GLCs must understand national aspirations. GLCs must jointly shoulder the responsibility of developing a Bumiputera Commercial and Industrial Community, creating a vendor system and creating effective partnerships with Bumiputera enterprises. There is no conflict between being profit oriented and developing Bumiputera capacity in the economy. Today, there are many Bumiputera individuals and corporations that possess skill and capability.There is no reason for them to be excluded.We should not exclusively put our trust in foreign companies and experts. 22. GLCs should be at the vanguard of efforts to enhance the abilities and credibility of Bumiputeras. GLCs must play a role to catalyse the transfer of technology from overseas to local and Bumiputera firms. I am proud of what the GLCs have achieved. I will be prouder still when GLCs play an active role in expanding the Bumiputera Commercial and Industrial Community and accelerating the transfer of technology to local companies. Their success story will be complete when GLCs can complement their role in economic development by contributing to Bumiputera socioeconomic programs.

PUBLIC SERVICES

23. The civil service is the prime mover of the government, covering every aspect of national development – from the economy to education to security. Indeed, an efficient civil service is critical in translating the vision of the Government into tangible benefits for the people. The Government will continue to take steps to improve the quality of the public service. The recent pay rise was one such measure. The introduction of service contracts and key performance indicators for secretaries general and heads of key agencies will also increase the level of accountability in the public sector.

24. The Government values the important role that is played by the Civil Service. That is why the Government agreed to raise civil service salaries, a rise that involves an additional annual emolument of RM8 billion. The Government views this substantial expenditure as a long term investment to ensure that the civil service continues to retain the best talent, capable of offering the highest standards of service.

25. Some improvements have already taken place. Following the establishment of flying squads, 98 percent of the backlog of land dealings since 2001 has been cleared. Now, tax returns can be filed through the internet and tax refunds via the “e-filing” system are made within 30 days. The issuance of passports and identity cards, which used to take two weeks, is now done within a day. The approval of building plans are now given within 142 days and Certificates of Completion and Compliance are issued within 134 days, a vast improvement on the length of time it took to issue Certificates of Fitness.

26. There are clearly weaknesses that must be remedied before we can attain the excellence to which we aspire. But importantly, we are now committed to change and prepared to make the necessary corrections. Improvements will be continue to be made to increase efficiency and improve the delivery system. The establishment of the Special Task Force to Facilitate Business or PEMUDAH has had a direct impact in increasing the competitiveness of the business environment.

27. The response to the Auditor General’s Report is proof that a dynamic change is taking place. It is a clear illustration of the power and capability of the relevant agencies to monitor and enforce. The stand of the Government is that frank reports such as the one prepared by the Auditor General will make the improve integrity and efficiency in the civil service. I am happy with the quick action taken by the Anti Corruption Agency and I am certain that many public servants support these actions, which protect the dignity and integrity of their profession.

28. In this connection, I want the civil service to always realize that their purpose in to serve the public – primarily the poor, the uneducated, and those without rank or position. This is the biggest and most important constituency. They must be treated with friendliness and respect. The power of administration must be given to speed up processes, not slow them down, especially for the powerless.

DEVELOPING GROWTH CORRIDORS AND TAPPING NEW POTENTIAL

29. The development corridor concept is a new approach aimed at generating comprehensive and widespread economic development. The nation’s development would be unbalanced if growth was solely concentrated in urban areas. Our cities would become overcrowded, while rural Malaysia would be neglected. The regionally based growth corridors will tap new potential and elevate efforts to eradicate poverty. More importantly, each corridor exploits unique local characteristics and natural competitive advantages. For example, the Northern Corridor will concentrate on agriculture and tourism will feature prominently in the East Coast and in Sabah.

30. The development corridors also adopt a new approach by involving the private sector more actively in development plans. For example, it has been reported that 70 percent of industrial areas within the Northern Corridor remain unused due to lack of demand.Therefore, we have ensured that the private sector is directly involved in the planning and implementation of the Corridors. This is to ensure all investments are commercially oriented and can generate appropriate returns, apart from delivering the benefits of development to the people.

31. The launch of the Iskandar Development Region (IDR) on 4 November 2006 ushered a new era in the country’s development. It has been designed to become a services hub, principally in the areas of creative arts, education, health care, financial and consulting services, tourism and logistics. It is expected to propel the southern Johor region to become a dynamic metropolis.

32. Both the Northern Corridor Economic Region (NCER), covering Perlis, Penang, Kedah and northern Perak and the East Coast Economic Region (ECER), which encompasses Kelantan, Terengganu, Pahang and the district of Mersing in Johor will feature a variety of sectors, aimed at eradicating poverty and improving the quality of life of the people and to eradicate poverty. We also want to ensure that the progress is distributed to the whole of the country, including the states in East Malaysia. In this connection, development corridors in Sabah and Sarawak will be established to take into account the needs and aspirations of the two states. Eradication of poverty will be the main focus of these two corridors.All these corridors are aimed at improving the lives of the people by ensuring that they taste the fruits of success.

33. The philosophy behind the development corridors is that no one should be left behind. Economic sectors and geographical regions that are currently lagging behind will be developed quickly.Additional income and new sources of income will be generated and new sources of wealth will be harvested. When our plans succeed, it will transform the face of Malaysia. Development will not just be concentrated to major urban centres, but will instead be spread to every area of our nation.This is our noble ambition.

34. There are fears that these development corridors, especially the Iskandar Development Region will threaten the future of the Malays. To me, this is an antiquated view. Perhaps in the past, we were laggards in our own land. This is not the case now. We now have many Malays who are well educated and have become doctors, lawyers, accountants and even astronauts. A class of Malay managers, capable of successfully running businesses has emerged. Therefore, the presumption that the IDR will harm Malays is an insult to the ability of Malays to compete on the global stage. Through Yayasan Hartanah Bumiputera and other agencies, qualified Malay entrepreneurs will be given ample opportunity to participate in the development of IDR.

35. The NCER has been well received by the people of the North. Similarly, the ECER has elicited a positive response from the people on the East Coast, including the PAS government in Kelantan. Our efforts are evidence of the Government’s sincerity in bringing development to all parts of the country. We put aside politics to improve the quality of life of the people and to lift them out of poverty. The economic corridors are part of the Government’s national agenda – proof of the determination of the Barisan Nasional government to develop the entire nation for the well being of the people.

36. These development corridors should be seen as a larger plan to vault every Malaysian – Malays especially – to greater prosperity. In the past, we have been speaking about towering Malays – and this is what we want – Malays who are unafraid to take on the world. We will never sacrifice the interest of Malaysians and Malays. The investment that we will attract from all over the world will accelerate our economic growth and the benefits will be enjoyed by all. And we will provide the necessary facilitation and encouragement in order to enable all Malays who want to compete in these Corridors the ability to do so.

37. In the Corridors, agriculture in Malaysia will be given a new face and a fresh approach. Structural changes will be introduced, especially to allow greater Malay participation in the supply chain. Malay farmers are still restricted to harvesting primary products. Their work is labour and time intensive, but yields low value returns. Agriculture encompasses so much more than this – it involves the provision of quality seedlings, modern equipment, technology, transportation, packaging and branding, wholesaling, retail, to name a few components. Today, the supply chain is not yet controlled by Malays, much less Malay farmers. The Government will work towards effecting a transformation from traditional agriculture to modern agriculture, which through the use of biotechnology and ICT sector will be more productive and profitable. Through this new approach, the agriculture sector will have a direct impact on our fight against poverty and will increase people’s incomes.

DEVELOPING HUMAN CAPITAL AND ACHIEVING POTENTIAL

38. The development of quality human capital is critical to build competitiveness and to achieve national development goals. As a developing nation, Malaysia faces many competitive pressures and challenges in the 21st century. In the current environment, success comes to those who value-add themselves. This is true for individuals, corporations and nations. To realise our country’s aspirations, a substantial effort must be made to develop human capital and consequently enhance our competitiveness, productivity and capacity to innovate.

39. Our youth are like unpolished gemstones. They will inherit our nation and will determine its fortunes in the years ahead. They must possess intellectual capacity, knowledge and culture .They must possess physical well-being and strong morals.Our youth must be prepared to lead our nation to greater heights.

40. We are currently effecting a quantum leap to develop human capital, and increase our productivity and innovation, so that we can attain developed nation status by 2020. We are transforming our education system at all levels – from pre-school to higher education.It is a complex task that involves many stakeholders. The Education Development Blueprint, 2006 – 2010 that was launched on 16 January 2007 provides the strategy and guidance to deliver quality basic education that is relevant to present needs.

41. Since the pre-Merdeka era, national schools have been conceived as the instrument to educate a multiracial population. This remains our objective. National schools will be strengthened to become the school of choice for all communities. Rural schools will be given quality teachers as well as infrastructure and facilities that compare will urban schools. Schools will excel in academic performance, co-curricular activities and sports. Cluster schools will become the benchmark in our drive to build a quality education system.

42. The Higher Education Strategic Plan was launched on 27 August 2007. The Plan forms the basis for the development of higher education until 2020. Through the Plan, the transformation of higher education will be sparked, in consonance with national development aspirations. It is the wish of Government for institutions of higher education to create an atmosphere that is competitive, premised on performance and meritocracy. Institutions of Higher Education must be able to produce graduates that will attract employers in the global marketplace. These institutions should also produce quality research that possesses high commercial value.

43. We have taken steps, among them providing more autonomy to Public Institutions of Higher Education in order to make them more efficient and effective. Audits of academic performance will be carried out to determine ratings for each institution. We have also embarked on a programme to develop an “apex” university.

44. Small and Medium Enterprises (SMEs) play an important role in generating economic growth. They need human capital that is trained with the relevant skill sets. Technical and vocational training will be structured to meet the needs of industry.

45. Religious schools are also instructed to provide variety in their curriculum and broaden their scope. Students in these schools will be supplied with knowledge, experience and skills that enable them to meet the human capital needs in a globalised economy that puts a premium on knowledge.

46. I want to see UMNO members turn the human capital development program into a jihad – for the party, for their families and for themselves. Each UMNO member must set a target to create a group of Malay professionals and technocrats. Each member must ensure that their children are enrolled in institutions of higher education.

BUILDING SELF CONFIDENCE, ERADICATING POVERTY

47. In 2020, it is important for Malays not to be left behind, marginalized in a nation that is already developed. We are working hard to avert this outcome.

48. Worry, fear and a sense of being under threat occurs when Malays are insufficiently prepared. For as long as Malays remain unambitious, they will fear meritocracy. The feelings of inferiority, nervousness and insufficiency are poisons that have been injected into the Malay mentality since colonial times. These poisons must be removed.Malays, when given the proper guidance and fair opportunity, are prepared to compete.

49. We have been independent for 50 years. Malays in the modern day are prepared to work hard. Many are prepared to compete globally. We should not be underestimated.We will equip Malays to take the nation to a higher level over the next 50 years. Let us aspire to greater heights and believe in our own abilities. Let us endeavour with the full confidence that Allah will bestow victory to those with armed with noble intentions, are willing to work hard and are prepared to change. God did not create Malays to be weaker or less intelligent than other peoples. The name of the first Malaysian to go into space is Sheikh Muszaphar – a Muslim and a Malay, chosen by the selection panel in Russia from a large, multiracial pool of candidates. Today, Malays have master many professions, lead many organizations and head many institutions. The success of this nation is a testament to the wisdom and greatness of Malay leadership.

50. The Malay community must create a critical mass of educated and skilled Malays, so that we can contribute more effectively in a variety of economic sectors. Intrepid Malays will be able to see the New Economic Policy from a perspective that will no longer alarm non-Malays. We should champion the fulfilment of the objectives of the NEP, ensuring the development of deep professional and middle classes among the Malays, so that Malaysian society is no longer divided by profession. The NEP was never intended to rob anyone’s rights. Although it has been 37 years since the introduction of the NEP, we have not made Malays rich by seizing the wealth of the non-Malays. The list of the richest individuals in Malaysia is still led by non-Malays. All parties should work towards achieving the objectives of the NEP.

51. In our quest to balance racial composition in the private and public sectors, let us not forget the other important goal of the NEP – eradication of poverty. The country will not achieve true peace and harmony while we have large numbers of poor living among us. Poverty can cause political instability, street demonstrations, high rates of crime and serious social problems.Poverty eradication programs are for all – irrespective of race or religion. Capacity building and value adding through effective education programs will elevate people from poverty. Poverty eradication programs will be given intensive attention in the second half of the Ninth Malaysia Plan.We hope that in the not too distant future, the term “poverty” will be obsolete – a word only to be found in dictionaries. Elected representatives must give high priority to poverty eradication – their success in doing so in their respective constituencies will be one of their key performance indicators.

OVERCOMING FEARS

52. Society is currently faced with a number of fears, among them: crime and inter-religious and communal issues. Crime in Malaysia is caused, among others by social problems and in some cases as a result of the influx of illegal immigrants. Media reports of crimes have heightened the public’s awareness, but the dramatic manner in which the news is presented gives the impression that this country is no longer safe. Higher crime rates and the approach taken by the media will affect the nation’s image. The Government is aware of the problem and in both the Ninth Malaysian Plan and the 2008 Budget, a large allocation has been granted to the Police. It should be understood, however, that the large personnel increases required by the Police cannot be filled overnight. It takes time to hire and train new police personnel. While this is happening, the country and society must be supportive of the Police and refrain from undermining the public’s confidence in the force.

53. Maintaining security is a responsibility of the Government, one which can be carried out more effectively with the support of the public. Tackling social problems such as drug abuse, smuggling, human trafficking requires the cooperation of all parties. The spirit of “citizen patrols” that was once commonplace must be revived. Malaysian society, which has now become accustomed to material comforts must never lose the community spirit. The call of the Government to reactivate the “Rukun Tetangga” must be answered. The work of the police must be supplemented by public assistance. A strong national spirit must prevail as we confront increasing crime rates. I am confident that if neighbourhood patrols are restarted, the incidence of break-ins and thefts will decrease dramatically. I ask all UMNO members, and the members of Barisan Nasional component parties to step forward and set an example in assisting the Government to combat crime.

54. The harmony between the various communities and religions in Malaysia is not an optional luxury – it is a necessity. We have no other choice. Fifty years ago, our independence movement was successful because of the wisdom of Tunku Abdul Rahman (Almarhum) and his colleagues who introduced the concept of power sharing.

55. We have been independent for fifty years. Now, those who are born in Malaysia are Malaysians citizens.They were born and have grown up knowing only Malaysia as their homeland. The time for championing parochial interests in over. Issues must be addressed on the basis of the interests of the nation and the Malaysian people as a whole.

56. During the 2006 UMNO General Assembly, UMNO allowed the media to provide live coverage of the proceedings. For the first time, the world was given a window to view Malay political rhetoric. Only a small number of speakers raised issues that perhaps touched on communal sensitivities. The speeches by the President, Deputy President and the leaders of the Youth, Wanita and Puteri movements, as well as the other debaters spoke on issues from a national perspective and represented the majority view within UMNO. I believe that similar extremist sentiments are voiced by members of political parties that represent other communities. However, in the spirit of building a unified nation, the consensus of moderation and mutual respect outweighs extremist tendencies.

57. Those who would wish to inflame communal sentiments have sensationalised the words of a few UMNO speakers. The act of unsheathing and kissing a keris is part of our cultural heritage, but it’s meaning has been twisted to spread fear among non-Malays, and the image of UMNO and Malaysia has been smeared overseas. On behalf of UMNO’s leaders and members, I give assurance that UMNO will never breach the spirit of the understanding that has been agreed with the other communities at the time of Merdeka. Opportunities in Malaysia are available to all. There is a future for every Malaysian in this country.

58. By the same token, other communities must appreciate the sensitivities of the Malays. Basic matters relating to the sanctity of religion, beliefs and practices, Malay interests and the social contract between the communities are sacred to us and should not be raised. Similarly, the basic issues that were agreed upon at the time the Federal Constitution was drafted are non-negotiable.

59. UMNO does not engage in duplicity.We do not change our tune to suit the occasion or the audience. We are ready to seek intelligent resolutions and win-win outcomes when dealing with sensitive issues relating to race and religion. Nevertheless, for these issues to be addressed effectively, it is more appropriate to have these discussions behind closed doors. Sensitive issues must be handled objectively, rationally and maturely. UMNO and its colleagues in Barisan Nasional must never be ensnared by religious and racial issues raised by the opposition. We are the party that controls Government, we administer executive power. We should never allow ourselves to sink to their level.

TOWARDS 100 YEARS OF INDEPENDENCE

60. In conjunction with the 50th anniversary of our independence, with the grace of Allah, I was given the honour of revisiting the historical journey undertaken by Tunku Abdul Rahman Putra. Beginning with the events in Bandar Hilir in Malacca, until the proclamation of MERDEKA at the Merdeka Stadium.

61. Malaysians should be thankful for the dignity and sovereignty that our nation possesses. We can be proud of how we have progressed since we attained our freedom. Much of this stems from the wisdom of our leadership, beginning with Tunku Abdul Rahman Putra, followed by Tun Abdul Razak Hussein, Tub Hussein Onn and Tun Dr Mahathir Mohamad. I was given the responsibility to lead four years ago.

62. This region once achieved greatness during the Malay Empire of Malacca. But it Malacca only lasted a century. After its fall, we were colonised for almost 500 years a period when our destiny was determined by foreign powers. In the 50 years after Merdeka, we have managed to govern ourselves and rekindle the glory of Malacca. Malaysia has emerged once again as a sovereign nation, esteemed and respected. But we do not want our success to last for only 100 years. We want to perpetuate our excellence.

63. I am grateful that I have inherited a Government that has achieved much, especially in the area of our physical infrastructure development. In fact, the challenge that confronts me is to add value to the success that has already been achieved. I have therefore decided to work towards developing the software for our nation through cultivating first class human capital.W e have introduced various formulae, restructured organisations and established new institutions. Fresh policies have been put in place and adjustments have been made to suit changing circumstances. The four years that I have held the reins of leadership is a relatively short span of time in our life as an independent nation and I realise that we still have some distance to travel before we meet the targets that we have set ourselves. In addition, there are new challenges emerging, such as the increasing price of fuel and other commodities and political instability in strategic regions such as the Middle East. Still, the positive signs that I see in Malaysia fill me with optimism.

64. We must be aware of our people who are becoming better educated, have more access to information and want more transparency, democratic practices and a bigger role for civil society. Media is undergoing a revolution. Information is now distributed through multiple channels. In this context, we must be intelligently balance the need for media freedoms with the basis for political stability that we have enjoyed. The Government wishes to see the media industry grow into an industry that is progressive and open, an industry that can carry out its responsibilities with integrity and responsibility. Perhaps one day in the future, the media can assume the responsibility of self regulation by its own professionals.

65. We must strengthen and rejuvenate political cooperation through a genuine spirit of power sharing. We must educate our future leaders to continue with the nation building agenda. The failure to prepare capable successors will leave a void that will be eagerly filled by our opponents.

66. It is the responsibility of today’s leaders to institute smooth continuity of leadership. UMNO is strong and stable because of the attention given to groom future leaders. During the time of Tun Abdul Razak (Allahyarham), much emphasis was given to talent spotting. Young leaders were given the opportunity to serve. They were educated and guided.This is why when both Tun Dr. Ismail and Tun Abdul Razak passed away suddenly, UMNO was equipped with a new echelon of leaders that was prepared and tested. No one lives forever. Responsible leaders will think about the nation’s future. For the sake of the country’s future, we must give priority to programs that develop potential leaders of tomorrow.

67. The fate of the nation in 2057 will depend on what we do today.The National Mission must succeed and this will only happen when our people are strong. They must be equipped with knowledge and become masters of technology. They must be cultured and possess strong morals.

68. A country that celebrates 50 years of independence must be populated with a free people – a people who have the belief and confidence in their future. Its people must shoulder the responsibility of defending its freedom; a people who live in harmony between communities and religions; a people who are broad minded and big hearted.

69. The next 50 years must be fully optimised by the Malays, by all Malaysians. The Federal Constitution must continue to be the bedrock of our nation and the Rukun Negara our guiding principles. We want to ensure that the country remains united and society remains equitable, infused with the spirit of togetherness and power sharing. We want to build a cultured and civilised nation through the approach of Islam Hadhari, which contains universal principles. We want an advanced nation that continues to progress, steered by the National Mission.

70. The National Mission has five main thrusts – moving the economy up the value chain, developing first class human capital, addressing persistent socio-economic imbalances, improving the quality of life and strengthening institutional capacity – all of which are universal, constant requirements for national building. The strength of our human capital will determine the success of the Mission. It will determine whether we achieve developed nation status and progress further.

71. Let us all build a nation that enriches every citizen, regardless of race or belief. Let us be a nation where everyone enjoys balanced development. Let us carry our nation to the peak of distinction.

72. When we celebrate our centenary of independence in 2057, Malaysia should be counted as one of the countries with the highest levels of human development. We should be ranked as one of the most competitive economies in the world with first class human capital, infrastructure, institutions and administration standards, insya-Allah.

73. I pray to Allah to provide guidance and inspiration to us to carry out our responsibilities and exercise our communal obligations, our fardu kifayah. I pray that our leaders and the future of both UMNO and Malaysia do not fall under the control of those who wish to bring destruction. May our Assembly be blessed by God.

Labels: , ,

Wednesday, October 24, 2007

Goh Tong dies at 90




KUALA LUMPUR: Tan Sri Lim Goh Tong, the founder of the Genting Group and one of the world’s richest men, died Tuesday. He was 90.

His son Tan Sri Lim Kok Thay said his father died at the Subang Jaya Medical Centre where he was admitted two days ago.

The funeral will be held on Monday.

“On behalf of my family and the Genting Group of companies, it is with great sadness I announce that my father and the founder of the Genting Group of companies passed away peacefully at 11.20am this morning.

“He was not ill. It was due to old age,” he told reporters at the hospital.

Sitting with him at the press conference was his sister Lim Siew Lian. Goh Tong’s wife Puan Sri Lee Kim Hua and several other relatives were also at the hospital.

At 5pm, an ambulance with Lim’s body, led by two police cars, left the hospital.

At 6.15pm, it was seen passing through the checkpoint at the entrance to his home GohTong Villa at GohTong Jaya, a township halfway up Genting Highlands.

A convoy of eight cars ferrying family members followed the ambulance.

At the GohTong Memorial Park where Lim will be buried, a hearse picked up an empty coffin at 6.30pm and headed towards the house. A simple ceremony was performed at the hill before the hearse left.

The park, which sites a mausoleum for the late tycoon, is about 1km from Lim's residence.

Mausoleum caretaker Kua Seng Kee declined to talk to pressmen and barred them from entering the site.

Pressmen were also denied entry to Lim’s residence.

About a dozen policemen were present to ensure that only those invited could go through the first security checkpoint of three before the house, taking down details of people in the cars.

Cars passing by the road to the GohTong Sports Centre nearby were also asked to turn back.

Meanwhile, condolence messages and tributes poured in from political and business leaders in the country and overseas.

Prime Minister Datuk Seri Abdullah Ahmad Badawi described Lim's death as a great loss to the country and all Malaysians while MCA president Datuk Seri Ong Ka Ting said he was an exemplary figure to all Malaysians.

Lim developed the popular hill resort of Genting Highlands and founded the Genting Group which comprised listed companies on the Bursa Malaysia as well as the Singapore and Hong Kong stock exchanges.

He was ranked 204th on the Forbes 2007 list of billionaires worldwide and his life has always been seen as a classic “rags to riches” story.

Born in 1918 in China’s Fujian Province, Lim came to the then Malaya when he was 19.

Remembering Tan Sri Lim Goh Tong
Lim Goh Tong dies at 90
Photo gallery

Labels: , ,

Tuesday, October 23, 2007

55 before spouse can claim savings

KUALA LUMPUR: Beginning June 1 next year, any claim on a deceased spouse’s Employers Provident Fund savings will only be paid once the claimant reaches the age of 55.

According to EPF chief executive officer Datuk Azlan Zainol, this would apply to cases where a person obtained a court order stating that the claimant would get the contributor’s savings.


“However, this only applies to non-Muslims. That is because of the fatwa that EPF savings is not matrimonial property,” he said yesterday.

Labels: ,

Monday, October 22, 2007

Angkasawan's Successful Mission??

KUALA LUMPUR, Oct 21 (Bernama) -- Following is the chronology of events leading to the launching of Malaysia's first angkasawan (astronaut) Dr Sheikh Muszaphar Shukor Sheikh Mustapha into space and his safe return to earth:

Aug 5 2003: Malaysia signed a contract to procure 18 Sukhoi Su-30MKM fighter jets from Russia under a package deal worth about US$900 million. The aircraft are to be delivered in stages between June 2006 and end of 2007. The payment for the aircraft will be stretched until 2009. In return, Russia will purchase Malaysia's palm oil, provide transfer of space technology, and train a Malaysian to become Malaysia's first angkasawan.

Oct 2003: Over 11,000 applicants registered online to become Malaysia's first angkasawan. Application requirements included being above 21 years old, a degree holder or a professional pilot.

Aug 27-Sept 3 2005: 894 candidates shortlisted but only 435 took part in the fitness test starting with a 3.5km run which must be completed within 20 minutes. 199 made it through. Of the figure, 194 underwent the basic medical examination based on National Aeronautics and Space Administration (NASA) Programme Criteria. 59 passed.

Sept 25-30 2005: First aeromedical test which included blood, nose and ear checks, X-ray, and electrocardiogram (ECG). 59 were tested, 27 passed.

Jan 16-21 2006: Second aeromedical test, including bone, air passage and centrifuge tests. 27 were tested, 18 passed.

Jan 16-24 2006: Overall assessment based on performance in 3.5km run and second aeromedical test as well as psychiatric, psychology, land and sea survival and technical competence. 10 were tested, 8 passed.

Jan 25-26 2006: Medical examination (including CT Scan, endoscopy and blood analysis). 10 were tested, 8 passed.

Feb 9 2006: Eight qualified candidates interviewed by selection panel at Shangri-La Hotel, Putrajaya. Overall assessment based on performance in all the events covering all aspects in communication, character, forwardness and determination. Four were selected to be sent to Moscow for further medical examination: Dr Sheikh Muszaphar Shukor Sheikh Mustapha, 34, orthopaedic surgeon; Vanajah Siva, 35, senior quality engineer; Dr Faiz Khaleed, 26, Armed Forces dental surgeon; and Mohammed Faiz Kamaludin, 34, Malaysia Airlines pilot.

March 2006: The four candidates underwent medical examination in Russia including neurology (brain) and body adaptation in microgravity environment.

Sept 4 2006: Prime Minister Datuk Seri Abdullah Ahmad Badawi named Dr Sheikh Muszaphar Shukor Sheikh Mustapha and Dr Faiz Khaleed as the final two candidates at the KL International Airport.

Sept 2006-Sept 2007: The two were sent to the Yuri Gagarin Cosmonaut Training Centre in Star City, Moscow and then to NASA in Houston, Texas, for training. One will be selected to fly to the International Space Station (ISS) while the other is his back-up.

Sept 24 2007: Datuk Seri Abdullah Ahmad Badawi announced that Dr Sheikh Muszaphar and Dr Faiz Khaleed passed the test and recognised as astronauts.

Oct 9 2007: Science, Technology and Innovations Minister Datuk Seri Dr Jamaludin Jarjis announced in Baikonur that Dr Sheikh Muszaphar will be the first Malaysian angkasawan to blast off to the ISS from the Baikonur Cosmodrome in Kazakhstan.

Oct 10 2007: Dr Sheikh Muszaphar together with a Russian cosmanaut and an American astronaut blasted off from Baikonur Cosmodrome, Kazakhstan to the ISS at 9.21pm (Malaysia time).

Oct 12 2007: Dr Sheikh Muszaphar carried out a research at a live support system space, Zvezda Service Module.

Oct 14 2007: Video conferencing between Dr Sheikh Muszaphar and Prime Minister Datuk Seri Abdullah Ahmad Badawi at Seri Perdana, Putrajaya failed due to technical glitches.

Oct 15 2007: Video conferencing between Dr Sheikh Muszaphar and Datuk Seri Dr Jamaludin Jarjis.

Oct 16 2007: Video conferencing between Dr Sheikh Muszaphar and Datuk Seri Abdullah Ahmad Badawi at Astro.

Oct 19 2007: Video conferencing between Dr Sheikh Muszaphar and the people at the National Science Centre.

Oct 21 2007: Dr Sheikh Muszaphar Shukor landed in the space capsule, Soyuz TMA-10, at Arkylk, Kazakhstan at 2.37pm (6.37pm in Malaysia) together with Commander Fyodor Yurchikhin and Flight Engineer Oleg Kotov after a journey of three hours and 23 minutes from the ISS.

Labels: , , ,

Thursday, June 07, 2007

PM speaks to reporters about his weekend marriage and bride-to-be

KUALA LUMPUR: Datuk Seri Abdullah Ahmad Badawi chose Jeanne Abdullah to be his future wife because they are compatible and they love each other.

“She can take care of me and she can be my companion. That is most important,” the jovial Prime Minister told a packed press conference after the official opening of SMIDEX 2007 and Small and Medium Enterprises Convention here yesterday.


Abdullah, who will marry Jeanne in a private ceremony at Seri Perdana on Saturday, was also asked whether they had “chemistry”. He replied laughingly: “Dah... bincang itu pulak? (Sigh ... why go into that?)”

Abdullah, who was smiling and laughing throughout the press conference, described his future wife as down-to-earth, caring and friendly.

“Kak Endon (the late Datin Seri Paduka Endon Mahmood) loved her. Otherwise she would not have asked her to manage our official residence,” he added.

Asked when he first knew Jeanne and how long they had known each other, Abdullah said: “Maybe at least 20 years. She is actually part of the family. She is Kak Endon's sister-in-law. She was married to her younger brother but they separated more than 15 years ago.”

On when he started falling in love with Jeanne, he blushed and said: “Just recently.”

Pressed further whether he had been in love for over a year, he replied: “Less than one year.”




Asked to clarify whether the rumours that the late Endon had asked him to marry Jeanne before she passed away, he replied: “Kak Endon tak adalah kata wasiat. (The late Endon did not bequeath such as wish).”

He said neither was there any message or recommendation.

On when he proposed to Jeanne and whether it was on bended knee, he said: “I wish I can remember. I'm trying to remember when it was.”

To a question whether his life would be more meaningful with Jeanne as his wife, he said: “How can it not be meaningful? That is God's will. A woman completes a man.”

Asked to comment about his love for his late wife as compared to his future wife, he said: “My love for Endon will remain as strong as ever. Then, I fell for this one. I believe God has created in your heart many spaces for different people that you can love as much as you want.

“You can love your wife. You can love your mother. But you never compare. How can you compare your love for your mother and the love for your wife? God has created the capacity for us to love and to develop relations. That's important.

“Endon's pictures will remain where they are. I will never forget her. Those are lasting memories. It's all right if I want to add Jeanne to it,” he quipped, as the journalists roared with laughter.

Asked why it took so long for him to announce the marriage and why he had brushed off the issue as rumours when asked by reporters earlier, he said the speculated dates of his marriage were wrong which was why he said it was rumours.

“Anyway, it has to take some time. I have to consult my children and ask my siblings. Then, I have to find the time. I was also always busy running around here and there.”

Abdullah said he was happy and grateful to Allah that his children and siblings had approved of his choice.

He said his daughter Nori's relationship with his future wife was good and his siblings had no problems with Jeanne.

“She (Nori) accepts it. Otherwise, it will not go on.”

On why he chose Saturday for the akad nikah, he said: “Saturday is a holiday. It will be easy for people to come.”

He said only close family members would attend the ceremony.

“It will be very simple. No need for too many gifts. It will be far simpler than my first marriage.”

Asked where he would go for the honeymoon, he chuckled and said: “I haven't planned yet. I have to discuss with the person concerned .”

On whether he would address Jeanne as “darling,” he said :”Why are you asking this? One day you will hear it. Next time when you hear me calling her you will know.” At the press conference though, he used the French pronuncation for her name.

On whether he would hold a bersanding ceremony, he said: “There won't be one. It's an old couple marrying.”

He said he had yet to plan for a wedding reception for friends.

Abdullah said he had informed the Yang di-Pertuan Agong about his marriage yesterday morning and later announced it to the Cabinet ministers before issuing a statement to the media.

“Let the people know. There is nothing to hide,” he said, adding that he hoped that the public would pray for the harmony of his marriage.

“A happy Prime Minister can do a lot of good work. I'm not saying I've not been happy so far, but I'm happier with a companion now,” he added cheekily.

Earlier, International Trade and Industry Minister Datuk Seri Rafidah Aziz congratulated Abdullah on his upcoming marriage on behalf of the participants of SMIDEX and the convention.

The bride-to-be, Jeanne, 53, was born in Kuala Lumpur and is the eldest of four siblings.

She had worked at several major hotels in the city, including KL Hilton and Pan Pacific Hotel.

Jeanne had served as a supervisor at the Deputy Prime Minister’s official residence and also as manager of the Seri Perdana complex.

She has two daughters from her previous marriage – Nadiah and Nadene.

The Prime Minister lost his wife Endon on Oct 20, 2005 after a two-year battle with breast cancer.

The couple has two children, Datuk Kamaluddin and Nori.

Related Stories:
PM to wed
Wishes from the US
Congrats all-round for Pak Lah

Labels: ,

Thursday, April 26, 2007

1.1 million cheap tickets up for grabs


KUALA LUMPUR: Malaysians can now look forward to more cheap air fares as the country’s two rival airlines are offering some 1.1 million cut-price seats to domestic and international destinations.

Prices as low as RM1 for domestic AirAsia flights and RM19 for domestic Malaysia Airlines (MAS) flights will make passengers spoilt for choice.

AirAsia is also offering low-price seats for international destinations with one-way flights to Macau from RM61 and Chiang Mai from RM41. Flights to holiday destinations like Phuket will cost RM21 or to Hanoi from RM51.

MAS’ cheapest flight is for a one-way ticket to Penang, Johor Baru or Kuantan whereas the most expensive tickets are at RM139 to Labuan and Kota Kinabalu.

The sales period for AirAsia is from April 23 to 29 for travel between Oct 1 and March 29 next year.

As for MAS, the sales period is from April 23 to 28 for travel between May 7 and May 22, and, June 14 and June 30. However, travel will be restricted to certain days within those periods for some destinations.

MAS’ cheap fares fall under its SuperSavers promotion with 500,000 tickets allocated over six days for domestic locations only.

AirAsia’s low fares promotion is a celebration of its recent F1 Grand Prix partnership with the AT&T Williams team, with the 600,000 low-fare seats offer going under its Fast & Furious campaign.

Both airlines are only allowing booking of seats online and prices do not include airport tax and other surcharges.

AirAsia and MAS denied they were in a price war, saying the offer had already been planned for some time.

AirAsia executive vice-president Kathleen Tan said they were “extremely flattered to observe other carriers imitating our successful marketing model.”

She added that AirAsia promises the lowest fare that no other carrier could match all year round.

“I will let the public decide who is responding to a price war. Smart consumers will vote with their own pockets,” Tan said .

MAS senior general manager for network revenue management Bernard Francis denied that the carrier was copying AirAsia.

“We have a strategic rollout plan for our promotions. In fact, from December last year, we started our monthly promotions for domestic routes to encourage travel in support of Visit Malaysia Year 2007 and to address lean travel periods,” Francis said in an interview.

When asked if MAS was reacting to a market that demanded such offers, he said MAS promotions were targeted and planned.

“In addition to attractive fares offered during the Malaysia Airlines Travel Fair and during MATTA fair, we will continue to do a series of domestic and international promotions this year to stimulate travel as part of our strategy to maximise revenue opportunities,” he added.

Related Story:Liquids, aerosols or gels ruling to start from May 21
Useful Links:Kuala Lumpur International AirportLCCT (Low Cost Carrier Terminal)

Labels: , ,

Sunday, March 25, 2007

IGP proposes better deal for cops?? YAU MOU GAU...CHOR!!

KUALA LUMPUR: The police want 20% more in basic salary than any government servants so that more and better-qualified people will be keen to join the force, Inspector-General of Police Tan Sri Musa Hassan said.

He said a new and better scheme of service was needed as the force was undergoing a massive restructuring exercise.

“This must be done if we want to reduce corruption and also to reach out and provide better delivery to the public.

“The restructuring exercise will also see the deployment of additional manpower and logistic support to highly populated and crime-prone districts in the country,” he told The Star in a special interview in conjunction with the 200th year celebration of the police force today.

He added that he had submitted the proposal to the Public Service Department.

The current salary of a police constable is RM690 while the starting pay for an officer with the rank of inspector is RM1,100.

Musa said the other major aspect of the restructuring, aimed at developing a competent and committed force with integrity, involved the intake of recruits, especially for the post of Inspectors and for the rank-and-file.

He said that, previously, diploma holders could apply for the post of Inspectors. Now, they would only be taken in as Sergeants.

Previously, degree holders could join as cadet Assistant Superintendents (ASP) but since the abolishment of the cadet ASP rank, degree holders would now only be eligible to apply for the post of Inspectors.

Musa said the force needed young sergeants who could keep up with the times and would get opportunities to be assistant investigation officers before moving up the ranks.

“We have also decided to do away with interview-based promotions and will replace it with performance-based promotions.

“The force needs people who can lead, people who know the job, people who have the experience and who are academically qualified. There is no point in promoting someone who is just academically qualified but has no experience and no leadership qualities,” he said.

Musa also said the Cabinet had approved the recruitment of 60,000 personnel and the intake exercise was in progress.

Related Stories:

Locked in a struggle to survive
Q&A with IGP
Tales of the cops of yore

Useful Link:
Royal Malaysian Police

Labels: , ,

Thursday, March 22, 2007

Forex admin rules to be eased further from April

BANK Negara has announced further liberalisation to foreign exchange administration rules to take effect from April 1 in line with the country's strategic objectives and supported by progress achieved from previous liberalisation.

To provide greater flexibility to licensed onshore banks to undertake foreign currency business:

# Abolish net open position limit of licensed onshore banks previously capped at 20% of banks' capital base.

# Abolish limit on licensed onshore banks for foreign currency accounts maintained by residents.

# Allow investment banks in Malaysia to undertake foreign currency business subject to a comprehensive supervisory review on the capacity and capability of the investment banks.

To widen investor base for ringgit assets and financial products:

# Allow non-resident stockbroking companies and custodian banks to obtain ringgit overdraft facility from licensed banks by removing the previous overdraft limit of RM200mil and expanding the facility utilisation to include ringgit instruments settled through the Real Time Electronic Transfer of Funds and Securities System and Bursa Malaysia.

# Abolish the limit of the number of residential or commercial property loans obtained by non-residents.

# Allow licensed onshore banks to appoint their banking groups' overseas branches to settle any ringgit assets of their non-resident clients.

# Allow non-resident corporations to utilise proceeds from initial public offerings on the main board of Bursa Malaysia, abroad.

# Remove the restriction on Labuan offshore banks to transact in ringgit financial products for non-resident clients.

To reduce the cost of doing business, enhance business efficiency and promote Malaysia as a centre of origination:

# Increase the limit of foreign currency borrowing that can be obtained by resident corporations from licensed onshore banks and non-residents and through onshore foreign currency bonds issuance to a total of RM100mil.

# Allow residents to hedge foreign currency loan repayment up to the full amount.

# Increase the limit for resident individuals with domestic ringgit borrowing to invest in foreign currency assets up to RM1mil per calendar year.

# Increase the limit for resident corporations with domestic ringgit borrowing to invest in foreign currency assets up to RM50mil per calendar year.

# Allow resident corporations to utilise proceeds arising from listing of shares through IPO on the main board of Bursa Malaysia for offshore investments.

# Increase the limit for resident institutional investors to invest in foreign currency assets – unit trust companies: up to 50% of net asset value (NAV) attributable to residents; fund management companies: up to 50% of funds of resident clients with domestic credit facilities and insurance; and takaful operators: up to 50% of NAV of investment-linked funds marketed.

# Allow resident corporations to lend in foreign currency, the proceeds from listing of shares on foreign stock exchanges to other resident companies in the same group.

# Abolish restrictions on payments in foreign currency between residents for settlement of foreign currency financial products offered onshore.

# Allow resident individuals to open and maintain joint foreign currency accounts for any purpose.

For more Economic Reports click here

Labels: ,

Saturday, March 17, 2007

Affordable Internet service with WiMax

PETALING JAYA: Two of the four winners of the WiMax (Worldwide Interoperability for Microwave Access) licence, which was announced yesterday, are all set to roll out high-speed wireless Internet services at affordable prices.

The four winners are REDTone-CNX Broadband Sdn Bhd, Packet One Networks (M) Sdn Bhd (formerly known as MIB Comm Sdn Bhd), Asiaspace Dotcom Sdn Bhd and Bizsurf (M) Sdn Bhd (a unit of YTL-e Solutions Bhd).

REDTone International Bhd group managing director Wei Chuan Beng told StarBiz that the 2.3GHz WiMax spectrum for Sabah and Sarawak would complement the group’s nationwide Internet rollout plan.

“We are very happy and thankful to MCMC (Malaysian Communications and Multimedia Commission) and the Government for entrusting us with the 2.3GHz,” he said, adding that REDTone would be announcing its nationwide Internet rollout plan with its partner in the next two weeks.

Wei said the RM300mil in capital expenditure (capex) for WiMax would be funded via equity and bond issues.

“Our plan is very comprehensive. High-speed mobile Internet will have a major impact on businesses and individuals in terms of communication and their way of life.

“Imagine individuals having the leisure of watching their favourite RTM programmes on their mobile phones while they are overseas,” he added.

Meanwhile, Puan Chan Cheong, chief executive officer of Green Packet Bhd, which owns Packet One, said winning the licence would put the company on an “equal playing field” with the big telecommunication players.

“We are happy and excited as the WiMax licence complements our existing wireless broadband services. We have the funds in place already,” he said.

He said services were expected to be rolled out before year-end and consumers could expect “higher speed of Internet services at better quality and prices,” adding that its WiMax broadband products would be targeted at enterprises.

There are many possibilities with WiMax, such as using Skype – a free voice over Internet Protocol (VoiP) solution – on mobile phones, which helps to reduce cost. “Of course, we will only see that in two years’ time.” Green Packet is currently installing in the Klang Valley its SONmetro infrastructure that can deploy broadband services using fourth-generation (4G) technology and long-range WiFi coverage.

The other two recipients, Bizsurf and Asiaspace, were unavailable for comment. YTL e-Solutions, which owns 50% of Bizsurf, is expected to release a statement today.

YTL e-Solutions provides incubation services, including developing and incubating technology companies and Internet content.

Asiaspace, a telecommunications and broadcast infrastructure company, was awarded the right to build 50 cellular base stations in 2003.

Labels: , ,

Thursday, March 15, 2007

Man claims he and son scored 24 1As each in SPM exam?? YAU MOU GAU...CHOR!!!

IPOH: It was a first of a different kind for Perak when education officers were alerted to a report of a father and son who claimed to have obtained 24 1As each in the SPM examinations.

The 53-year-old man called up the Tamil Nesan office here and claimed he and his 13-year-old son sat for the exams at a well-known school here. He claimed that both had scored full marks in all 24 subjects.

State Education director Datuk Mohammed Zakaria Mohd Noor said his officers began investigations after S. B. Bala, the newspaper's Ipoh bureau chief, asked the department to verify the results.

“This is the first time we have come across such a case of people falsifying result slips. It is also possibly the first such case in the country,” he told reporters yesterday after announcing the performance of Perak students in the 2006 SPM examinations.

Zakaria said the department’s initial investigation showed that the result slips were faked.

“The format of the result slips is more or less the same as the original slips, except that the font is different and certain subjects are wrongly spelt,” he said.

He added that it was impossible for anyone to sit for 24 subjects.

“There are 108 subjects for SPM students to choose from. The maximum number of examinations that a candidate can take is 21,” he said.

Zakaria also thanked the media for correctly seeking to verify the results before publishing the case.

Labels:

Saturday, March 10, 2007

EPF seeks strategic partners for RHB Capital?? YAU MOU GAU....CHOR!!!


THE Employees Provident Fund (EPF) plans to sell up to 35 per cent of RHB Capital Bhd to strategic partners as soon as this year after its last-minute sweetened deal won a takeover battle for the country's fourth largest banking group.

The pension fund has offered RM2.25 billion cash to buy Utama Banking Group's 32.8 per cent stake in Rashid Hussain Bhd (RHB), boosting its stake to 61.8 per cent. The deal is due to be wrapped up in four months.

The EPF beat an offer from EON Capital Bhd, a smaller banking group, and another one from a group led by Kuwait Finance House.

It will make an offer to buy the remaining shares in RHB and the rest of shares in RHB Cap. RHB holds 65 per cent of RHB Cap, which in turn owns 70 per cent of RHB Bank Bhd.

Then, EPF will cut its stake in RHB Cap to about 40 per cent and it will delist RHB, chief executive officer Datuk Azlan Zainol told a media conference in Kuala Lumpur yesterday.

The fund also plans to buy Khazanah Nasional Bhd's 30 per cent stake in RHB Bank, worth about RM3.2 billion, in cash. The price is still subject to negotiations.

EPF hopes to bring in two to three strategic partners in two years to help improve RHB Cap. Azlan said a few groups have expressed interest to buy key stakes in the banking group, but he would not name them.

He said KFH could be a potential partner, although both parties have not started talking.

"We have not talked to KFH. Maybe they are keen to take a stake, we don't know. But I believe they are only interested in the Islamic assets, but at the moment no (they are not involved)," Azlan said.

"Hopefully we can invest together (with KFH) ... we don't discount that possibility," he added.

He also said EPF has no intention to turn RHB into an Islamic bank, but will instead grow the group's Islamic banking business.

It will also let professional managers run the daily operation of RHB bank, promising minimal interference from the owner.

Azlan said RHB Group will not buy another lender in the near term.

"No. We believe in consolidation. In the next two to three years we want to let things settle down. But if there are opportunities two years from now, we will like to consider overseas assets," he said. RHB Group has branches in Singapore, Thailand and Brunei, he added.

EPF is spending RM10 billion as initial investment outlay for RHB Group. The fund expects the investment to give it a return on equity of some 5 to 6 per cent at the immediate stage and even higher returns in the future.

"This is a long-term and anchor investment for EPF. It is our mandate to invest in companies that we believe can deliver good returns and has potential to grow. We see this in RHB," Azlan said. He said EPF may later sell some of its shareholdings in other banks.

The deal still needs Bank Negara Malaysia and Ministry of Finance's special approval as banking law does not allow any single company or institution to hold more than 20 per cent of a bank.

Labels: , ,

Wednesday, February 28, 2007

Regional sell-off on China fears


KUALA LUMPUR: The KL Composite Index plunged in tandem with regional markets on what equity researchers say could be due to investment tightening measures imposed by foreign governments as well as interest rates increases.

However, the Bursa staged a strong late recovery, possibly due to late institutional support, to close 35.79 points lower at 1,237.08, or 2.81%, after having recorded a massive 53.24-point plunge only about 13 minutes earlier at 4.47pm.

Regional bourses did not fare any better, with the Shanghai and Shenzhen bourses of China the biggest losers with 8.84% and 8.54% decreases respectively, while Singapore’s Straits Times Index recorded a 2.29% slide.

In a random survey, most equity researchers and fund managers believe the strong fundamentals of the Malaysian economy would lend support to the share market. However, StarBiz technical chartist G.M. Teoh said there could be more drastic downside.

Hong Kong’s Daiwa Asset Management Ltd fund manager Mona Chung told Bloomberg that investors could be worried that China might impose tightening measures on illegal investments that have driven benchmarks to records, while China National People's Congress vice-chairman Cheng Siwei had earlier this month warned of stock market “bubbles.”

The biggest loser yesterday on the local market was Bursa Malaysia with a RM1.10, or 9.2%, drop. Other top losers included Genting Bhd, Batu Kawan Bhd and IJM Corp Bhd.

Losers crushed gainers by 1,157 to 42, with 60 counters remaining unchanged.

Among the top gainers were newly listed H-Displays (MSC) Bhd, KFC Holdings (Malaysia) Bhd and MISC Bhd.

Labels: ,

Saturday, February 17, 2007

Government mulls over fast-food ad ban?? Really?

PUTRAJAYA: The Health Ministry is “seriously considering” a ban on fast food advertisements.

Minister Datuk Seri Dr Chua Soi Lek said the move would also cover endorsements of events linked to fast food.

This was because such meals are considered “silent killers,” he told reporters here.

A fast food “sin tax” is also being pondered, added Chua.

He said the rationale for the proposal was motivated by the increasing number of Malaysians suffering from “affluent” diseases, such as diabetes and hypertension.

“There are a lot of lifestyle diseases because of rising affluence.

“Surveys consistently show that Malaysians don’t exercise enough and do not pay attention to the food they eat.

“This is the only country where people discuss over breakfast where and what to eat for lunch. And then over lunch, it will be what’s for supper,” he noted.

Dr Chua said obesity, which was the “root of all problems”, now affected 37% of the population, compared to 20% a decade ago.

About 12% of the population would suffer from diabetes by 2020 if nothing were to be done, he said.

Dr Chua, a medical doctor, said as far as his ministry is concerned, burgers and fries are just as bad as cigarettes and liquor.

Admitting that the move would be “revolutionary”, Dr Chua said the ministry welcomed feedback on its proposed action.

“We want to send a strong signal to consumers.

“We do not allow advertising for cigarettes and liquor.

“Fast food should be treated in the same way as alcohol. The time has come.”

Responding to the proposal, Association of Accredited Advertising Agents of Malaysia president Datuk Vincent Lee said a total ban on fast food ads would not be feasible.

He said advertising agencies and their clients were already exercising “self-control” on fast food advertising, such as not targeting children aged below seven.

“Even in the United States and Europe, there is no total ban on fast food advertising,” he said.

Revenue from fast food advertising on TV, newspapers and billboards totalled over RM100mil annually.

“So it will be quite detrimental to the media,” Lee said.

Labels: ,

Greenhouse gases hit new high, may be Asia growth?? YAU MOU GAU....CHOR!!

OSLO (Reuters) - Greenhouse gases widely blamed for causing global warming have jumped to record highs in the atmosphere, apparently stoked by rising emissions from Asian industry, a researcher said on Friday.

"Levels are at a new high," said Kim Holmen, research director of the Norwegian Polar Institute which oversees the Zeppelin measuring station on the Arctic archipelago of Svalbard about 1,200 km (750 miles) from the North Pole.

He told Reuters that concentrations of carbon dioxide, the main greenhouse gas emitted largely by burning fossil fuels in power plants, factories and cars, had risen to 390 parts per million (ppm) from 388 a year ago.

Levels have hit peaks almost every year in recent decades, bolstering theories of warming, and are far above 270 ppm before the Industrial Revolution of the 18th century. Climate scientists say the heat-trapping gas is blanketing the planet.

Holmen said the increase of 2 ppm from 2006 reflected an accelerating rise in recent years. "When I was young, scientists were talking about 1 ppm rise" every year, he said. "Since 2000 it has been a very rapid rate."

"The large increases in release rates are definitely in the Asian economies," led by China, he said. China is opening coal-fired power plants at the rate of almost one a week.

SPRING FALL

Carbon dioxide concentrations peak just before the northern hemisphere spring, when plants start soaking up the gas as they grow. Southern hemisphere seasons have less effect since there are fewer land masses -- and plants -- south of the equator.

The Zeppelin station is run in cooperation with Stockholm University and is one of the main measuring points along with a station in Hawaii. Remoteness from industrial centres helps.

Scientists say the concentration of carbon dioxide, according to the modern records, is at its highest in the atmosphere in at least 650,000 years.

The world's top climate scientists said in a report on Feb. 2 they were more than 90 percent certain that human activities, led by burning fossil fuels, were to blame for warming. That was up from 66 percent certainty in a previous report in 2001.

The U.N.'s Intergovernmental Panel on Climate Change said that temperature rises were set to accelerate and could gain by between 1.1 and 6.4 Celsius (2.0-11.5 Fahrenheit) by 2100, bringing more floods, droughts and rising sea levels.

Apart from human emissions from burning fossil fuels, he said there were other factors that could affect carbon dioxide levels in future.

On the one hand, plants may grow more in a warmer world, soaking up more carbon dioxide. But if the soil gets warmer, dead plants and leaves may rot more in winter, releasing more carbon.

Any heating of the oceans may means less absorption of carbon dioxide, partly because the greater buoyancy of warmer water inhibits a mixing with deeper levels.

Labels: ,

Saturday, February 10, 2007

RM1,069,000,000,000 Malaysia's annual total trade breaks RM1 trillion mark for the first time


KUALA LUMPUR: Malaysia took a giant leap as a trading nation when its trade registered a historically unprecedented volume: breaching RM1 trillion for 2006.

Prime Minister Datuk Seri Abdullah Ahmad Badawi, who also holds the finance portfolio, said Malaysia’s trade totalled RM1.069 trillion — a 10.5 per cent growth over the previous year.

This, he said, surpassed by 50 per cent the estimated seven per cent global growth projected by the World Trade Organisation for last year.

Exports expanded by 10.3 per cent to RM588.95 billion while imports grew by 10.7 per cent to RM480.49 billion.

In a statement issued by his office, the prime minister was exultant, saying: "It is an inspiring achievement.

"Although our country has faced numerous challenges, in particular the financial crisis in 1997 and a global economic downturn in 2001 and 2002, we have successfully coped with these upheavals and continued to perform well."

The facts:

• The highest ever trade surplus registered — RM108.46 billion — making it the 110th consecutive month of trade surplus since November 1997;

• Exports grew by 10.3 per cent to RM588.95 billion in all the major sectors — manufacturing, agriculture, minerals and fuel; and

• Imports grew by 10.7 per cent to RM480.49 billion, reflecting the demand by a strong manufacturing sector.

Abdullah said a breakdown of the figures showed that the trade profile had undergone significant changes in the last two decades.

• In 1987, more than half — or 53.4 per cent — of total trade came from commodities such as crude oil, timber, palm oil and rubber and manufactured goods accounted for 14 per cent of total exports.

One decade later — in 1997 — the profile changed again.

Commodities contributed only 17 per cent while manufacturing became the mainstay, contributing to 78.5 per cent of total trade.

"This reflects Malaysia’s industrial development and emphasises the strength of the manufacturing sector in enhancing the country’s exports," Abdullah said.

The other significant profile change has been in Malaysia’s trading partners, he said.

In 1987, Malaysia’s trade was largely confined to advanced economies such as Japan, the United States and Europe.

Ten years ago, while still maintaining the important trade ties with the advanced economies, Malaysia widened its portfolio to grow trade with Asean countries, West Asia and China.

It also expanded trade with developing economies in Latin America, South Asia and Eastern Europe.

The result — sustained trade growth — averaging 10.8 per cent on an annualised basis between 1997 and 2006.

The record trade growth comes on the back of increasingly positive economic data in recent months which, coupled with more business-friendly policies and development plans, has attracted foreign investors in droves to Malaysia.

The stock market has made a significant leap since the 1998 regional economic crisis with the benchmark Kuala Lumpur Composite Index (KLCI) closing at 1,245.36 points yesterday against 262.7 points on Jan 9, 1998.

Gross Domestic Product is estimated at RM277.2 billion last year against RM182.2 billion in 1998 while foreign direct investments reached RM17.88 billion in 2005 from RM13.06 billion in 1998.

Yesterday, Deutsche Bank head of equities research Teoh Su Yin briefed newsmen in Kuala Lumpur, saying although the KLCI has risen by some 27 per cent since November last year, the market still has room for expansion.

Labels: ,

Wednesday, February 07, 2007

Mahathir Speaks Out on War - Computer First

Sunday, January 21, 2007

Rising temperature in Indian Ocean may have caused Johor floods



BANGI: The warming of the Indian Ocean in the past 20 to 30 years – brought about by global warming – could have played a part in the unusual weather which caused flooding in Johor and other parts of Malaysia.

Climate expert Associate Prof Dr Fredolin Tangang said the rising temperature of the Indian Ocean, brought about by a series of events starting with the melting of ice in Greenland, could have caused the unusual and adverse weather conditions in South-East Asia.

An oceanographer based at Universiti Kebangsaan Malaysia’s School of Environmental and Natural Resource Sciences, Dr Fredolin said the Indian Ocean was cooled by a natural phenomenon which oceanographers labelled the “Great Ocean Conveyor Belt.”

The “conveyor belt” allowed warm water from the Indian Ocean to flow to the Arctic waters near Greenland, where the heat was dispersed. (Refer to graphics)

However, Dr Fredolin said melting ice caps in the Arctic region around Greenland due to global warming had caused the natural conveyor belt to slow down or even stop.

“Research shows that there is significant melting of ice in Greenland due to global warming.

“As a result, the salinity of the sea water has decreased,” he said in an interview.

As the water mass would be lighter, it was not able to sink, thus disturbing the natural progression of the conveyor belt.

“The conveyor belt would either be stopped or slowed down,” he added.

He said the present rising temperatures in the Indian Ocean could be associated with a weaker or absent “conveyor belt” while the area around Greenland would experience a drop in temperature.

“Cooling in the region near Greenland and warming in Indian Ocean is not a coincidence but a good indicator of a weaker or halted ocean conveyor belt,” he said.

He said if the cooling trend in the North Atlantic continued and grew bigger, Europe would eventually head for severe winter in the future.

“For the tropical regions, especially regions close to the Indian Ocean, more extreme and unusual weather occurrences and climate anomalies such as typhoons and cyclones will appear in the future,” he said.

He said he was currently studying recent climatic changes to explain what was happening to the country and would submit his report to the Government soon.

Related Stories:
Wild weather ahead

Labels: ,

Free Website Counters
Free Website Counters © Copyright 2005-2008 SEE FU. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.