More building collapses...after KT Stadium roof collapse 2.0

Malaysia is shamed by yet another collapses which is the latest collapse of a flyover in Cyberjaya. What is wrong? Will have to find out which contractors are involved.

This occur after just less than 10 days the collapse of the Sultan Mizan Stadium, Terengganu "2.0"

 

 



Malaysian Government's debt to approach RM 1 trillion by 2020

Malaysian government’s debt to approach RM1 trillion by 2020

 

by Pak Sako | Monday, 25 February 2013 14:53

CPI

CPI Introduction

This is the second part of a three-part CPI series on Malaysian debt. The first part, entitled, ‘Investigate Malaysia’s debts now’ , surveyed the overall debt situation.
This part examines the trend in government debt. The upcoming part will concern Malaysia’s total debt.
Statistics reveal that in the last 15 years, the Malaysian government’s debt increased at an unprecedented rate.

The graph below shows the statistics for the government’s combined domestic and foreign debts from 1991 till the present. Forecasts are provided up to the year 2017.


The figure shows the government’s borrowings from the savings of domestic citizens and from foreign creditors.

Here we ignore private debt, even though it adds to the government’s debt burden, because a portion of private debt is publicly guaranteed. We also ignore other unrevealed debts.

What the statistics are saying
During the 1990s, the reported debt level was mostly flat. It declined slightly towards the end of the decade. At the close of 1991 it was RM99 billion, and by the end of 1996 it was close to 91 billion.
After 1997, the government’s debt began to steadily climb until 2007. In those 10 years, the debt level rose from RM91billion to RM274 billion. This is an increase of RM183 billion, or an annual average addition of debt of RM18.3 billion.

From 2008 onwards, the borrowings escalated exponentially.

In 2008 alone, an extra RM43 billion of debt was amassed. From RM274 billion at the start of that year, the debt level rose to about RM502 billion by the end of 2012 — an increase of RM228 billion in five years. The average increase in debt in this period was RM45.6 billion per year.

The IMF forecast the debt level for the years 2013 to 2017. The annual increase in debt is predicted to be higher, at a yearly RM55.4 billion. The projected debt level for 2017 is RM779 billion.

This assumes that there is still plenty of domestic funds available to carry the borrowing up to that level (the lion’s share of government debt is, after all, domestic debt).

If not, debt would have to be secured from external sources.

The assumption is also that the government will continue to borrow. This is likely to be true. As we have seen, the trend suggests that the government’s appetite for debt has been growing, not abating.
The annual increases in debt are substantial sums: a single year’s borrowing can dwarf a decade’s worth of inward foreign direct investment.

There has been no sign of the debt accumulation reducing or levelling out since the East Asian economic crisis of 1997.

Large government deficits were first incurred in the aftermath of this crisis. Then-prime minister Mahathir Mohamad justified this as part of government spending in commercial enterprises to stimulate the economy.

In reality, the loan proceeds were allegedly used for questionable purposes, such as to fund large-scale projects awarded to crony capitalists and to bail out their failing companies.

The federal government’s borrowing shifted into higher gear from 2008, the year the Barisan National coalition lost its two-thirds parliamentary majority.

The deficit expenditures have been justified as a short-term tool. But they have continued for almost a decade and a half; they have become a permanent feature of the government’s financial policy.

The government’s financial imprudence is therefore a primary cause of the country’s indebtedness.

What this means for the average citizen
It is pertinent to ask whether at this rate Malaysia will attain in 2020 the so-called high-income status envisioned by the New Economic Model.

In the graph, we can see that the government’s debt could come close to RM1 trillion by that year.
The actual debt level might, of course, fall well short of that.

Even so, the strain of the debt load on the people is likely to be significant.

Consider the amount of interest payable every year for the current debt of RM502 billion, or for RM779 billion in 2017. Information on this needs to be disclosed and put into the public realm.

Undertaking debt on this scale is unsustainable for a country of our size and economic potential. The World Bank has said that the Malaysian economy is likely caught in a ‘middle-income trap’.

Economic growth in the years ahead is projected to be slower. Other contributing factors include Malaysia’s wide income and wealth disparities.

When we are compelled to push our land and labour resources to new limits to produce economic growth in the attempt to surmount large debts, there will be damaging social and environmental consequences. We will have to rapidly liquidate our oil and other resources at the expense of the wellbeing of future generations.

The average citizen could be taxed more.

To free up cash to service debt, there could be cost-cutting in the provision of public services, such as healthcare. This might already be happening; recently there were shortages of medicines and blood tests in the public hospitals and health clinics. Workers might also face longer working hours for the same or lower income.

A more devious method may also have to be deployed to deal with domestic debt.

This is when the borrowing government increases money supply by printing money to devalue the debt. The lending citizens lose out. Inflation speeds up and the currency will weaken.

In summary, a ‘new normal’ of a lower standard of living is probable, given:

(i) the increasing scale of government debt and the repayments required for these, and
(ii) the country’s comparatively limited earning potential, bearing in mind the ‘false’ economic growth being attained by irresponsibly depleting natural resources, polluting the land and squeezing greater ‘productivity’ out of the workforce.

Tackling debt ought to be a major subject of political discourse in Malaysia.

Pakatan Rakyat, we are ready!

Hello,

 

Pakatan Rakyat launched its Election Manifesto for the 13th Generel Elections themed the "People's Manifesto"

 

 

View its' manifesto at Pakatan Rakyat

 

There is no turning back now despite Prime Minister Najib Razak's continued delay for the 13th General Elections. Regardless whether the elections are happening in March, April, May or June 2013, we are ready for change. Rhetorics and slogans of "stability over chaos", "1 Malaysia", "Transformation" here and there and in fact everyday, everyhour to almost everyminute on mainstream media since the dawn of Najib's administration in April 2009 has not yield any significant improvements in the country's corruption, racial and religious harmony just to name a few.

Nevertheless, thank you Prime Minister Najib Razak of leading the country in the past 4 years and now we are ready to herald into dawn of a new federal government by Pakatan Rakyat under the leadership of a new Prime Minister Anwar Ibrahim!

 

In tandem with Pakatan Rakyat's manifesto launch, I hereby post this Youtube video which was uploaded in 2008 during Anwar Ibrahim's by-election campaign in Permatang Pauh. I was ready back in 2008 but I have not be any more ready now than ever...

13th General Elections: "UMNO/BN, time is up! you get out! Let Pakatan "Harapan" Rakyat move in"

Everytime I see the majestic Prime Minister Office in Putrajaya, I am strongly inspired by the fact I have the right to change the tenant of the office!

We are ready!

 

 

[Bahasa Malaysia] Dr M: "Jangan menggigit tangan yang membantu anda"

Kebelakangan ni, mantan Perdana Menteri Malaysia Tun Dr. Mahathir Mohamed menyaran peneroka FELDA (Federal Land Development Authority) supaya "tidak menggigit tangan yang membantu anda" .

 

Mantan perdana menteri bukan sahaja mengiktiraf kepimpinan Perdana Menteri Najib Razak dalam usaha untuk memenangi Pilihanraya Umum ke -13 (PRU 13) di mana Parlimen akan dibubarkan secara automatik pada 28 April 2013, mantan PM juga berkempen secara aktif di barisan depan atau "Front line" untuk Barisan Nasional kebelakangan ni seumpama beliau sedang bertanding untuk menjadi Perdana Menteri semula.

 

Tun Dr. Mahathir berkata: "Jangan menggigit tangan yang membantu anda"

 

Saya kata kepada kerajaan: "Jangan mencuri daripada tangan yang mengundi anda"

 

Rakyat Malaysia mengundi ahli politik sebagai pemimpin kerajaan adalah untuk mewakili seluruh rakyat Malaysia untuk membuat polisi and menjaga harta and khazanah negara untuk kebaikan negara sekarang dan masa depan. Kita tidak mengundi parti politik sebagai kerajaan untuk memberi hak pemilikan harta dan khazanah kepada mereka dan menggunakannya untuk kepentingan diri atau kroni mereka. Cuma apabila Pilihan Raya Umum menjelang, pihak mereka baru nak memberi rezeki serba sikit tu kepada rakyat (itupun daripada harta negara dan cukai rakyat) dan menyeru rakyat supaya bersyukur, membalas budi dan "tidak menggigit tangan yang membantu mereka". Bukankah itu tanggungjawab dan amanah kerajaan untuk membantu rakyat? Oleh itu, kalau kerajaan yang dipilih "mencuri daripada tangan yang mengundi mereka", maka itulah tanggungjawab kita sebagai rakyat untuk melindungi masa depan dan khazanah negara dengan mengubah kerajaan, dan mengundi supaya kerajaan yang tidak menguruskan ekonomi negara dengan baik, gejala rasuah yang semakin berleluasa dan kebocoran yang melampau.

 

Ini kalilah, jom berubah! "Berhijrah" kepada kerajaan yang lebih baik!

 

Joshua

Dr. M: Don't bite the hands that feed you

Recently, former Malaysian prime minister Tun Dr. Mahathir Mohamed told Federal Land Development Authority (FELDA) settlers "Don't bite the hands that feed you". FELDA is a Malaysian government agency initially founded to resettle rural poor into newly developed areas and to develop small holder farms and in the past decades engages in diversified business activities.

 

The former Malaysian premier has not only endorsed current Prime Minister Najib Razak's campaign to win the coming 13th General Election, where the Parliament will automatically dissolves on 28th April 2013 but also has seen campaign actively for the ruling coalition on the front line.

 

Dr. Mahathir said "Don't bite the hands that feed you"

 

I said to the government "Don't steal from the hands that vote you"

 

We vote politicians into government office is to govern and make policies on behalf on all Malaysians for what is best for the nation and its future. We do not vote politicians into the government office to legitimize the act of possessing the nations' treasure and wealth at its whims and fancies. If the government of the day provides for its citizens, it is its' responsibility and duty as a government elected by the people. So if the government "steal from the hands that voted them in", then its our duty to safeguard the nation's future and wealth by changing the government, voting out a goverment that mismanaged the economy and worsening corruption and leakages.

 

This is it! Let's change!

 

Joshua

Sabah's security and sovereignty breached?

Malaysia's authority and intelligence agency first alleged that there was an attempt on south korean superstar Psy's life during his special appearance in BN Penang Chinese New Year open house following a "yee sang toss" embarrassment that the Prime Minister Najib Razak, ministers and BN leaders had to wait for over 5 minutes on 11th February 2013.

 

Then the Malaysia's immigration department detained and deported an Australian Senator on 16th February 2013 alleging that the Australian lawmaker Xenophon tarnished the country's image for his "authoritarian" remarks of Malaysian Government handling of the BERSIH 2.0 rally on 28th April 2012.

 

However a security situation has emerged in Sabah recently with 100 armed men in Lahad Datu. Eventhough I have not follow the situation closely but the latest call by leader of DAP Parliamentarians YB Lim Kit Siang of an urgent Parliament session and Sabah State Assembly session warrants attention of all Malaysians, especially Sabahans on our country's sovereignty and the security and the safety of Malaysians, particularly Sabahans.

 

Excerpt from YB Lim Kit Siang's posting:

 

Jamalul Kiram III, who claims to be ruler of the now defunct Sulu Sultanate, told the Philippine Daily Inquirer that he authorised the ‘incursion’ and that his men would remain in Lahad Datu as long as needed.

Jamalul said the group, led by his younger brother crown prince Agbimuddin Kiram, would remain in Sabah for “as long as necessary” in their bid to reclaim the state, which was formerly a territory of the Sulu Sultanate.

source from Philippine Daily Inquiry .

 

Regardless of the ruling government's preparation and preoccupation with the coming 13th General Election and their all-out in defending their seat of power, they must not forget or be lacking in anyway to protect the sovereignty and security of Malaysia.

 

Joshua

 

Happy Chinese New Year 2013!

Happy Spring Festival/ Chinese New Year to all chinese from all around the world.

To all Malaysian Chinese, in this new year of the snake, I invite everyone to heed the call of the greetings in the video produced by YB Teresa Kok (Democratic Action Party Parliamentarian, State Assemblymen and Selangor State Exco) and her team. "Discard the old, change to new, dare to try"





Happy Blessed Chinese New Year!

Joshua

Will Najib be the last UMNO Prime Minister of Malaysia?

70-Day Countdown to 13GE – Will Najib be the last Umno Prime Minister?

- by Lim Kit Siang

“Najib is not going to be the last Umno prime minister”, so says veteran Umno leader Tan Sri Abdullah Ahmad at the 15th Malaysia Strategic Outlook Conference organized by Asian Strategy and Leadership Institute (Asli) today.

The Prime Minister, Datuk Seri Najib Razak clearly does not share Abdullah’s confidence and optimism or he would have called for the 13th general elections already instead of dilly-dallying with hesitation and indecision in the past two years, gaining for himself a reputation of being an even greater Flip-Flop Prime Minister than his predecessor Tun Abdullah.

Nor the Johore Mentri Besar, Datuk Ghani Othman who told Kulai Chinese organizations less than three weeks ago that Pakatan Rakyat could win Putrajaya in the 13GE although he warned that the most the PR could win would be a slim majority of 5% to 10% of the parliamentary seats – i.e. a majority from 12 to 22 parliamentary seats.

Nor the UMNO/BN éminence grise, Tun Mahathir, who seems to be increasingly pessimistic about UMNO’s chances of winning Putrajaya in the 13GE, causing him to call on Malaysian voters to support “the devil you know than the angel you don’t”, and recently, making more and more reckless and desperate statements, like:

• his baseless accusation that the historic peaceful and successful Himpunan Kebangkitan Rakyat at Stadium Merdeka (KL112) by over 100,000 Malaysians from all races, religions and region was an attempt to topple the elected UMNO/BN government by violent means;

• his baseless accusation that the first Prime Minister, Tunku Abdul Rahman had given citizenship to one million unqualified non-Malays before Merdeka in 1957 in an attempt to justify his “citizenship-for-votes” scam in Project M in Sabah, even suggesting a Royal Commission of Inquiry into Tunku Abdul Rahman’s issue of the one million citizenship to non-Malays before Merdeka.

However, despite the private doubts and diffidence of Umno/BN leadership about retaining Putrajaya in the 13GE, there can be no doubt that the UMNO/BN leaders and propagandists have ratcheted up their campaign which has gone into an overdrive in the mainstream and social media to convey the impression that they have supreme confidence not only to defeat Pakatan Rakyat in the 13GE, but going to win big by regaining two-thirds parliamentary majority.

But, as the Prime Minister knows, whether Najib is going to be the last UMNO prime minister is still very uncertain and undecided – and it is not going to be decided by the Umno leadership but by the 13 million Malaysian voters in the 13GE.

Undoubtedly the pre-eminent issues to be determined in the 13GE is whether Najib is the last Umno Prime Minister bringing UMNO/BN government to an end 55 years after Merdeka – liberating Malaysia from UMNO hegemony and set on the path of a normal democracy where voters can choose the Federal government they want through the ballot box during general elections.

- Lim Kit Siang

[Bahasa Malaysia]- Adakah Najib akan jadi Perdana Menteri terakhir UMNO?

Pengiraan Detik 70 Hari ke PRU13 – Adakah Najib akan menjadi Perdana Menteri terakhir UMNO?

- Lim Kit Siang

“Najib tidak akan menjadi perdana menteri terakhir Umno”, begitulah kata seorang pemimpin lama Umno Tan Sri Abdullah Ahmad di Malaysia Strategic Outlook Conference ke-15 yang dianjurkan oleh Asian Strategy and Leadership Institute (Asli) hari ini.

Perdana Menteri, Datuk Seri Najib Razak jelas tidak mermpunyai keyakinan dan rasa optimis Abdullah, jika tidak tentu beliau telah memanggil untuk pilihan raya umum dan bukannya berbolak-balik dengan ragu-ragu dan tidak yakin sejak dua tahun lalu, memberkannya reputasi sebagai Perdana Menteri Berubah-Ubah lebih teruk berbanding perdana menteri sebelumnya, Tun Abdullah.

Begitu juga Menteri Besar Johor, Datuk Ghani Othman yang memberitahu pertubuhan Cina Kulai kurang daripada tiga minggu lalu bahawa Pakatan Rakyat boleh menawan Putrjaya dalam PRU13 walaupun beliau memberi amaran bahawa paling banyak PR boleh menang cuma majoriti tipis 5% hingga 10% kerusi parlimen – iaitu majoriti daripada 12 hingga 22 kerusi parlimen.

Dan juga manusia berkuasa di dalam UMNO/BN, Tun Mahathir, yang kelihatan semakin pesimis tentang peluang UMNO menawan Putrajaya dalam PRU13, membuatkannya menyeru pengundi Malaysia menyokong “syaitan yang dikenali bukannya malaikat yang tidak dikenali”, dan baru-baru ini membuat kenyataan yang lebih semberono dan terdesak seperti:

•tuduhan tidak berasas beliau bahawa Himpunan Kebangkitan Rakyat at Stadium Merdeka (KL112) yang aman dan berjaya dengan kehadiran 100,000 rakyat Malaysia dari pelbagai kaum, agama dan tempat adalah cubaan menggulingkan melalui jalan keganasan kerajaan UMNO/BN yang dipilih rakyat.

•tuduhan tidak berasas beliau bahawa Perdana Menteri pertama, Tunku Abdul Rahman sebelum Merdeka pada 1957 telah memberikan kewarganegaraan kepada satu juta bukan Melayu yang tidak layak dalam cubaanya untuk menjustifikasikan penipuan “kewarganegaraan untuk undi” dalam Projek M di Sabah, malah mencadangkan satu Suruhanjaya Siasatan Diraja untuk menyiasat isu Tunku Abdul Rahman dan kewarganegaraan satu juta bukan Melayu sebelum Merdeka.

Bagaimanapun, walaupun terdapat keraguan dan kurang keyakinan kepimpinan UMNO/BN mempertahankan Putrajaya dalam PRU13, tidak ada keraguan lagi bahawa pemimpin dan propagandis UMNO/BN telah memulakan kempen yang telah terlebih pacu dalam media perdana dan media sosial untuk memberikan gambaran bahawa mereka memiliki keyakinan besar bukan saja untuk menewaskan Pakatan Rakyat dalam PRU13 tetapi juga menang besar dengan memperoleh majoriti dua pertiga parlimen.

Akan tetapi seperti yang diketahui Perdana Menteri, sama ada Najib akan menjadi perdana menteri terakhir UMNO adalah masih tidak pasti dan belum diputuskan – dan ia tidak akan ditentukan oleh kepimpinan Umno tetapi oleh 13 juta pengundi Malaysia dalam PRU13.

Tidak diragui lagi isu menonjol yang akan ditentukan dalam PRU13 adalah sama ada Najib merupakan Perdana Menteri UMNO yang membawa pengakhiran kerajaan UMNO/BN selepas 55 tahun selepas Merdeka – membebaskan Malaysia daripada penguasaan UMNO dan menetapkan demokrasi normal yang mana pengundi boleh memilih kerajaan Persekutuan yang mereka mahu melalui peti undi ketika pilihan raya umum.- Lim Kit Siang

Malaysia's debt on the rise...worrying trend (Hutang Negara Malaysia kian bertambah)

Cash Handouts (BR1M) "to sing" support for BN in 13th GE

February 2 2013- As the clock ticks closer to the Malaysian 13th General Elections (GE) with predictions to be held in the next two months. Parliament automatically dissolves in April 2013 if the GE are not called earlier by the Prime Ministers Najib Razak of Barisan Nasional (BN).

Prime Minister Najib Razak continues to play "Santa Claus" with Bantuan Rakyat 1 Malaysia (BR1M) or known as 1 Malaysia People's Aid with cash handouts of RM 500 to household earning RM 3,000 or less per month and also RM 250 to singles earning RM 2,000 or less per month. PM Najib who hailed from the ruling coalition of BN has been talking about how caring his government is as more people are getting this second round (BR1M 2.0) cash handouts as compared to BR1M.

Despite a feel good factor for those recipients and who is not happy when given money? The real concern remain unanswered:

• Why are the more and more households earning less than RM3,000 and bachelors earning less than RM 2,000 per month in Malaysia? If the economy is vibrant and the correct path to high income nation is on track, they should be less eligible recipients because citizens are getting richer with a higher income. BRIM does help Malaysians but why are they still so many Malaysians hovering on the edge of low income and poverty?

• How about the rampant corruption and multi-billions of illicit money outflow? Has the government address that? Where has the money gone?

• The rising national debt against country's gross domestic product (GDP) which is above 50%. With so much debt at the moment, is the government borrowing money to pay the citizens?

The BN government seemed to be pre-occupied with winning the 13th General Elections, despite the failure to address fundamental adverse economic issues like a majority of population earning a low income, enormous illicit money outflow/ corruption cases and rising national debt, even under PM Najib's government since taking office in 2009.

Recipients of BR1M, be happy BUT do not forget the fundamental adverse economic issues that needed to be addressed and rectified, if the BN Government cannot fix those issues, vote in Pakatan Rakyat and experience real changes.

Salam Berubah,

Joshua