Musa Hitam’s merit call for IDR to attract FDIs – extend to whole country

Musa Hitam's merit call for IDR to attract FDIs

Thirdly, on international competitiveness.

The Royal Address quoted the World Competitiveness Yearbook 2006 where Malaysia’s position has improved from 28th place in 2005 to 23rd place in 2006.

Since last month, the government has tried to generate a “feel good” atmosphere among the people with the message that good economic times are back.

Parliament was told that since 3rd January 2007, the Bursa Malaysia Composite Index has been recording an encouraging performance and exceeded 1,200 points, a level which has not been reached since the Asian currency crisis in July 1997. There was the record 2006 trade volume breaching RM1 trillion. We are told that in 2006, “total investments in the country remained strong, reaching its highest level in the history of our nation”.

On February 13, International Trade and Industry Minister, Datuk Seri Rafidah Aziz announced that Malaysia is back on the global investment map, with a record RM46 billion investments in 1,077 approved manufacturing projects last year by local and foreign investors — a 48 per cent jump from the RM31 billion invested in 2005. This was made up of RM20.2 billion of foreign investments and RM25.8 billion in local investments.

Is the government right that Malaysia is “out of the woods”, dispelling the gloomy news in the past few months that Malaysia is in danger of dropping out from the radar of foreign investors because of increasing lack of international competitiveness, whether in efficiency of public service, quality of education, good governance, transparency and integrity?

The United Nations Conference Trade and Development (Unctad) World Investment Report 2006 last October revealed unflattering figures about Malaysia for the year 2005, viz:

  • Foreign direct investment (FDI) in Malaysia dipped to US$3.97 billion in 2005 from US$4.62 billion in 2004;
  • For the first time since 1990, Indonesia managed to overtake Malaysia in drawing FDIs. Inflows to Indonesia surged by 177% to US$5.26 billion in 2005. Indonesia registered a 177 per cent hike in FDI from US$1.89 billion in 2004 to US$5.26 billion in 2005, while Malaysia suffered a 14.3 per cent shrinkage of FDI.
  • As a whole, FDIs to South, East and South-East Asia reached a new high of US$165 billion in 2005, a 19% increase over 2004, with China (US$72 billion), Hong Kong (US$36 billion) and Singapore (US$20 billion) as the biggest receipients of FDIs in 2005.

Rafidah’s FDI figures to justify her claim that Malaysia is back on the FDI radar do not tally with the latest Unctad figures released in its “Number 1, 2007 Unctad Investment Brief” which has given an even lower estimate for FDI for Malaysia for 2006 as compared to 2005.

In its preliminary estimates of FDI inflows in 2006, Unctad figures for Malaysia sees a shrinkage of 1.6 per cent to US$3.9 billion from US$4.0 the previous year, while FDIs for the whole region of “South, East and South-east Asia” registers an increase of 13.1 per cent from US$165.1 billion in 2005 to US$186.7 billion, with Thailand recording a 114.7 per cent increase from US$3.7 billion in 2005 to US$7.9 billion and Singapore a 58% increase from US$20.1 billion in 2005 to US$31.9 billion.

Parliament is entitled to an explanation for the RM6.4 billion difference in MITI’s FDI figure of RM20.2 billion (or US$5.7 billion) for 2006 and UNCTAD’s preliminary estimates of US$3.9 billion (RM13.8 billion) for the same year.

This difference would increase to RM9.85 billion if we take into consideration two qualifications to the MITI figures released by Rafidah:

Firstly, the figures are for approved FDI figures for the year which are very different from actual FDI inflows for the year. For instance, for 2005, approved FDIs in manufacturing was RM17.9 billion (US$4.71), but actual FDI inflow into the country was US$3.97 (RM15.1 billion) — a shortfall of RM2.8 billion.

Secondly, the FDIs in manufacturing represents only 75% of total FDIs, which will bring the difference between FDIs for manufacturing as approved and actual inflows for 2005 to RM6.6 billion.

On the same basis that some 75 per cent of FDI inflows in 2006 was for manufacturing, then the difference between MITI and Unctad figures for FDI inflows for manufacturing would increase further to RM 9.85 billion — which is no small figure.
A full and proper explanation for these different set of FDI figures should be given to the people in keeping with the government’s pledge of accountability, transparency and good governance.

Bloombert has reported that former deputy prime minister Tun Musa Hitam has proposed that the government should exempt the Iskandar Development Region (IDR) in South Johor from policies that favour the bumiputras to help attract foreign investors to the huge growth area.

Musa, who sits in an advisory panel for the project, said policies that gave the bumiputras privileged access to government contracts and guarantee a minimum presence in the workplace may deter foreign companies interested in investing in the IDR.
Musa said contract awards “will have to be on merit” – “The Malays will have to face competition.”

I fully endorse Musa’s call. In fact, it should be extended to the whole of Malaysia and not just to IDR, as it is not just IDR that must maintain the best-possible posture in international competitiveness to attract FDIs, the same considerations apply for the whole country as well.

During the debate on the Mid-Term of the Fifth Malaysia Plan in Parliament on 28th June 1989, I had specifically called for the end of the New Economic Policy and its policy of quotas and ethnic percentages in 1990 and the adoption of the principle of social equity and merit in the interest of national unity and international competitiveness.

[Speech (14) on Royal Address debate in Parliament 22.3.07]

  1. #1 by raven77 on Friday, 23 March 2007 - 11:09 am

    It’s a start in the right direction. Let’s take this one step at a time. 30 years of a lousy policy cannot be undone in a day.

  2. #2 by HJ Angus on Friday, 23 March 2007 - 11:22 am

    Why did we have to wait 30 years to discover it is a lousy policy?

    Investors will also take some time before they decide we are worth another look.
    We need long term policies to attract investors especially for property.

    Not too long ago, Johor had an on/off policy of charging foreign investors RM100k tax when they wanted to dispose of property.

  3. #3 by Jeffrey on Friday, 23 March 2007 - 12:59 pm

    Currently throughout Malaysia, foreign investors are subjected to a rule, under the Foreign Investment Committee, where Bumiputera investors should hold about 30 per cent of their business.

    Incentives such as 10-year tax holidays and the freedom to employ foreign employees including exemption from 30 per cent bumi equity holding are only for companies that are approved by the Iskandar Regional Development Authority (IRDA) and they must carry out qualifying activities in designated zones. Clients of these firms with IRDA-status must also be within the zone and outside Malaysia. It is further reported “although these IRDA-status firms are not bound by the FIC rules, they will have to contribute to a social projects fund, which will address social welfare. The fund, to be managed by IRDA, would build low-cost houses and invest in community programmes, among others. See this link –

    These kind of similar incentives are already existing in Multi Super Corridor for MSC’s companies. No big deal!

    Incentives are given only for certain mega projects that the government wants to promote over a longer period.

    What is offered to IRDA does not represent any tentative step or change in mind to dismantle the affirmative policy program under NEP at all.

    There is no more cause for any optimism for the Iskandar Development Region project as the MSC.

  4. #4 by rm 0.02 on Friday, 23 March 2007 - 1:00 pm

    It was not a lousy policy for those priviledged people, so why stop it?

    I don’t think the very policies that deter foreign investors from investing fully here will ever be removed, i.e. the 30% bumiptura equity ownership, fair and impartial tendering based on merit and so on and so forth.

    The whole patronage system is so entrenched that removing it would be tantamount to political suicide, especially when the election is around the corner.

    No…the IDR will probably be a tiny, unrealised shell of what it could possibly be, just like all other past and future plans of our leaders…sad isn’t it?

  5. #5 by dawsheng on Friday, 23 March 2007 - 1:18 pm

    How can one be a global city when you are not ready to compete?
    How many of our bumiputra cabinet ministers actually understand the word “globalization” means? Tun Musa calls for a fair game for all is no great discovery, but too bad our endangered fellow Malay countrymen and their so call leaders, scared shit about losing things they haven’t created or owned yet. This “over-protected” policies are just tools for narrow-minded politicians who sings the theme of “Malay Nationalism” only to enrich themselves, built bungalow house and buy big car as part of an example of a succeesful Malay model.

    Then these leaders tell his race that they are indeed special, son of the soil , endangered and protected from the predators called “Chinese” who will rob them kering-kontang. So the Malays are so grateful everytime they saw their leader in big cars and come for visit once every blue moon, they rush to “cium tangan” and “wah!” “wah!” “wah!”, orang besar and kereta besar konon. We are in a sad state.

  6. #6 by sheriff singh on Friday, 23 March 2007 - 1:20 pm

    Its a matter of faith and trust. If you were burnt in the past through capital controls, CLOB etc, you wouldn’t want to be the first in. You really got to believe in and have trust in the government.

    Otherwise, the red carpet can be nicely laid out, but the invited guests just will not come.

    You screwed up them red-dotters big time, they shy away. Now you ask them, they give you the bottoms-up.

    You say they cannot have sand, their planes are noisy, they spy on us, they cause our floods, their land reclamation encroach on our borders, they don’t like our crooked bridge, they are bad neighbours etc etc, and then you say, “Please come! Come with your money.”

    This IDR will be another Gajah Putih, just like Multi Media Supercorridor, Labuan, Langkawi and of course Putra Jaya. All with poor ROI.

  7. #7 by ENDANGERED HORNBILL on Friday, 23 March 2007 - 1:22 pm

    On Musa’s eureka, well…better late than never. Lord Byron said: ‘Teach them that ‘sauce for the goose is sauce for the gander.’

    Foreigners will soon discover what is good for all Malaysians must also be good for aliens. So what is not good for some Malaysians will also be dubious for foreigners.

    At the end of the day, save all the silly headache and have a level playing field. All discriminatory policies must someday come to an end. Then what? Can you forever have a different tax bracket for foreigners and local industry participants? Look at China’s new deals – towards a level playing field for all, citizens and foreigners alike.

    Otherwise, Malaysians will just go overseas. Or the unhappiness of Malaysians will also spread a despondency and a cloud over the nation’s investment climate.

    Remember, charity begins at home…Malaysians first. When the full potential of even Malaysians have not been fully exploited, BN is pressing the panic button now & making wild offers overseas. Foreigners will demand more because they know the country is desperate. Start right and begin bu being kind and fair to Malaysians.

    Believe you me, watch and see how the nation grows. Otherwise, Pak Lah is right, wait for 2057…and still, you will never know. Do we need a crystal ball for this. If only our guys put on De Bono’s thinking hats.

  8. #8 by zank on Friday, 23 March 2007 - 3:00 pm

    You don’t find many Malay politician dare to stand up and speak like Musa, it is time to face the reality or forever behind Singapore! Why are we with 24 million people and full of resources can’t compare to Singapore? If we don’t fix our house now, Malaysia and the Malay will continue to be look down by others for many more years to come. After 30 years only a handful of Malay who continue to enjoy the “NEP” policy and these are the one who will continue to fight on to ensure the NEP stay so they can continue to be the rich one, while thousand of Poor malay in the rural areas continue to face with poverty and struggle, at the same time be fooled with the so call NEP for the Malay.

    Congratulation to Badawi and Musa for taking the rational steps toward liberalising Malaysia, and of course for the Malay as well. I am sure with the right thinking/strategy, NusaJaya will be as glory as Singapore not too long from now.

  9. #9 by Ray on Friday, 23 March 2007 - 3:32 pm

    First and Foremost >>Where is Umno Integrity ? Umno Practises InJustice ,Discriminatory Policies to Fuel their Political Struggles Power endlessly…..
    Are these Islamic Prophet trying to Lure the world to their Political Trap OR are they trying to Prophesy to the world of their Doom Day IS Coming By creating A Chaotic Project Called Iskandar.
    Umno 50yrs History shown that Umno Is Illegals, UmtrustWorthy>>UnRelaible>>Unrealistic and Futhermore these Iskandar Umno Conceptualised Project Definitely A Big Time Faiure and A GATEWAY for their BIG CORRUPTION AMBITIONS
    Looking back … there is Nothing Sustainable/effective within Umnputras embodiments for worthwhile directions for the Rakyats Aspirations and sense of belongings till to date.
    Neither any Umno Administrative goals ,have been proven success econimically politically and of social values.
    >>NEP has been beging for $$$$$ frrom ALL Malaysian BANKS which most are Cash flow /reserve shorted/near BAnkrutpcy,,,
    Education Brain Drained Focused system…Umno Sdn Bhd Selling or Privatising of Casino Khazanzh Shares to Foreigners ,etc …Ending A total Sumation ZERO Sum Gain BUSSINESS FAILURES FOREVER.
    Rakyats >>Unles A Regime Change ,FDI figures will Continue to Dip downTrend.Its Too Scary to Invest in a Nation LACK of INTEGRITY ,Plitcally motivated for General Election Dishonest Invaluable and Monkey Gimmicks to Tell Rkayats ,,the nation cares for you by giving econ/work opportunity and For sure Umno Ultimately WIN the Next GE.
    Vote DAP to Experience New Hopes and Equal Opprtunities without GE gimmicks for All Bangsa.
    Ray…sign off

  10. #10 by Loh on Friday, 23 March 2007 - 4:01 pm

    UMNO asked for 20 years to implement one country two systems in 1970. 37 years later UMNO insists that the target that was set to be achieved by 1990 has yet to be reached, when the facts show otherwise. It shows that UMNO never keeps its promise.

    The IRDA project may be able to attract foreign investers, and provide some job opportunitites for people residing therein. But other so-called affirmative programmes of NEP remain.

    Tun Musa mentioned that he would be doing explanation to UMNO members who might be affected on the advantage of the policy. Would Musa also tell UMNO members it is unfair to the non-Malays if NEP is continued? The parents and the grandparents of the current Malays working population had received more assistances than non-Malays, and they have been better prepared to face competition. Would Musa tell the Malays that they should face competition in life, and do away with NEP altogtether?

  11. #11 by ahkok1982 on Friday, 23 March 2007 - 4:15 pm

    well, it is nice to know that Musa is saying that the unfair advantage of bumi priority should be taken out but then again, i do still remember the saying “hot hot chicken shit”.
    At first they will say all level playing field. Then when all investors come, set up businesses which e malays r unable to compete w, all losing money n face, then wat next? Can Musa promise and make an oath tt e unfair advantage will not be re-implemented when e malays r losing out?

  12. #12 by Libra2 on Friday, 23 March 2007 - 4:40 pm

    When it come to hype, our government is unbeatable. And Malaysians by nature get excited very fast as though the government has realized that the NEP is a failed policy and meritocracy is on the way.
    Friends, The NEP is here to stay, perhaps till Judgement Day.
    If you go by a process of elimination I reckon just a handful of companies may enjoy this “NEP reprieve” but there might be other conditions attached to compensate for the “loss”.
    Also beware!!! The UMNO Youth leader might bring out his keris and the goal posts will shift.

  13. #13 by HJ Angus on Friday, 23 March 2007 - 6:08 pm

    It appears that just like the police has lost much of the people’s trust without the IPCMC, the systemic failure of most government policies has now spread to investors who prefer to place their monies where countries like Indonesia are making more progress to becoming more attractive to investors.

    I think this is the beginning of the end of the NEP that should have been buried in 1990.

    Of course the withdrawal pains will be great as in any drug but if BN does not give up the NEP we should also make them irrelevant come the next elections.

    BN has ruled basically since 1957 and our present problems can be considered the cumulative results of all their actions and policies. The NEP was a major plank and it was massively abused to suit the ruling elites.

    I submit it is time for the BN to take a break in order to rejuvenate itself. And if the opposition is not good enough to run a few states we should also give them the boot!

  14. #14 by k1980 on Friday, 23 March 2007 - 7:39 pm

    It is time for BN to take a break in order NOT to rejuvenate itself, but to hang itself. No Malaysians will ever want that racist political party to come back once it has been dumped by the rakyat. Remember USNO and what happened to it?

  15. #15 by lawrencesabah on Friday, 23 March 2007 - 7:48 pm

    Just to ask Abdul Ghani whether the Bumi entitle any discount on houses purchase in the area of IDR, If Yes, I will “kaw tow”, if no, it is merely bullshiting that all go on merit.
    For such extreme and denial Menteri Besar, even recent flood also accused singapore who caused it, so u think will he allow the IDR to base on merit?????

  16. #16 by dawsheng on Friday, 23 March 2007 - 8:02 pm

    Tun Musa’s echoes will be just echoes, we have heard it coming everytime the election is near.

    It seems to me Abdullah’s version of catalyst of growth is a mere fiction, not a bestseller, forget about being a classic. No no! Is not fiction, Abdullah is only day dreaming.

    Everyone know the formula required for the project to be succesful will be more than just creating a fair market, there are things like “hardwork” involves to be successful, just wondering how many Malay politicians undertand that as they seems to treat money like magic, “Abacadabra” then they’ll have it. No no! “God Willing” then they’ll make it.

    With this kind of attitude, how many investors will be coming? Furthermore, investors are spoilt for choice, what is IDR compared to Singapore’s IR development where everyone one a piece of the action? And there are many more investment destination in other part of the world, which offered much better opportunity and return; Dubai for example.

    I am also very worried when EPF crossed the borderline and became a bank owner, next EPF will finance IDR, where demand and supply of the project remain very much questionable. All along, EPF has been abused to bail out failed GLCs and UMNO’s business venture, how much of the contributors’ money has gone to such pratices were not known, questions asked but only to be answer by OSA. Why? Because Malaysian has given Abdullah;s government 91% mandate in the last GE, and lets make sure such silly mistake will not occur ever again.

    And now Adullah’s UMNO lead government is at it again, risking millions of Malaysian’s future, to pursue their secret agenda hidden behind the veil called IDR. We have to be very careful from now on.

  17. #17 by smeagroo on Friday, 23 March 2007 - 9:40 pm

    I see no light in his statement bcos end of the day nothing will change. I dare say that even if the PM were to say the same statement it is just an acknowledgement from them of this unfair practice but the same will remain.

    Fed up of all these sandiwaras from these people, each taking turns to be the good guys but sadly they have no ultimate power to do anything. It is akin to TDM telling Bush of his astrocities but can TDM do anything about it?

  18. #18 by WFH on Saturday, 24 March 2007 - 9:28 am

    Tun Musa Hitam’s statement for the dismantling of the NEP specifically for the IDR is to be taken cautiously, and IMHO is a desperate diversionary call to momentarily take the spotlight away the hesitant and sput-sput-sputtering stalled roll-out.

    I do not understand why ALL policies, guidelines regulations etc.. cannot be announced AT TIME OF LAUNCHING of the project, ANY project. Even the 5-member Panel, of which Tun Musa is member, to promote IDR seems to be a very desperate afterthought. It will do the Govt well to ensure that all relevant and necessary implementation policies, rules, guidelines, etc are, AT TIME OF LAAUNCH already on the table ready and disseminated to its targetted interested parties to understand, digest, raise Q & A, and then very quickly make their sought-after investment decisions. Even the mechanism for follow-ups on interests must be in place to take in open enquiries.

    As with the vast majority of Govt projects, announcements are all hyped up and the mainstream press magnifies such events as if they were the best ever Govt project decisions of all time.

    If my suspicions are not off, I suspect that there are very few Red-Dotters who are really and seriously interested enough to proceed with transferring real money into the IDR.

    If the take-off statistics in the next 6 months or so are not positive, it’d not be beyond this Govt to form a few more new GLCs, claim some doubtful and even dubious joint-cooperation with some foreign firm (InventQJaya comes to mind), and take up investments and implement half-baked projects and half-cooked businesses in the IDR just to fol Malaysians and foreigners together that we have “our own” success-in-the-making Shenzhen. Where might the financing to come from..?? Why not through Govt loans and handouts, after all those are ONLY taxpayers monies.

  19. #19 by lakshy on Saturday, 24 March 2007 - 10:25 am

    While what Tun Musa has said is a welcome step in the right direction, it is true as what jeff said that there is nothing much that is new in the offerings. When a foreign company wants to set up in any part of malaysia, they enjoy most of these benefits already. So there is nothing special here.

    But the thing that may be worrying them is whether policies change later, and they will be squeezed later. After you have got them to invest in Malaysia.

    But I think investors are also smarter now, and will also worry about investing in Islamic nations. Better to invest in more stable parts of the world, or where the market is.

  20. #20 by lakshy on Saturday, 24 March 2007 - 12:31 pm

    By the way, what are the contracts that they are referring to when they say that the contracts to be awarded without preferential treatment? I am sure the IDR development will be given to realetd parties.

    If a foreign company wants to build something there, whether its commercial or industrial, I am sure that like everywhere else in Malaysia, it is given to the lowest bidder, without regard for bumi status. Thats how my company does its buildings. No preference for Bumi contractors wherever we build. So I dont really see where they are going with this statement about no preferential treatment for Bumi contractors. Makes no difference in reality! Thats whats been happening anyway.

  21. #21 by ENDANGERED HORNBILL on Saturday, 24 March 2007 - 8:24 pm

    BTW, AAB said on CNBC interview aired yesterday under ‘CNBC Converstaions’ when interviewed by martin Soong that NEP will still be needed.

    AAB said Bumi equity so far is only about 18-20%?????? I think this must be the latest set of statistics. What happened to the old statistics? What happened to Najib’s statsistics? What happened to Dr Lim Teck Ghee’s statistics.

    So far, only Dr Lim’s statistics is open for inspection. All the other statistics under OSA??????????? Despite NAjib promising to reveal his computation methodology so many, many moons ago….Najib mudah lupa-lah!

    I think AAB said they aim to achieve 30% equity by year 2010. Wow! 1969 to 2007 (38 years), achieved 18-20% equity.
    Now! 2007 to 2010 (3 years), achieve balance of 10-12% equity on an enlarged and growing equity base. Pening-lah Malaysia? MAcam mana kira? The base keeps growing, the goal posts keep moving.

    BN must also be moved out of the government too. Vote DAP/PKR. No two ways about that.

  22. #22 by ENDANGERED HORNBILL on Saturday, 24 March 2007 - 8:39 pm

    Oh, one more thing….go see the interview yrself on CNBC. I suspect there will be a repeat telecast. It’s “CNBC Conversations’.

    See how AAB shuddered and squirmed when Martin very gently and politely asked about the NEP.

    See AAB talked about PROTON.

    See AAB talk about RHB/EPF.

    Then decide for yourself if you want to cast your vote for BN with this hero at the helm.

    As for me…my vote (and my friends too) are reserved for DAP/PKR. We need a sea change, like they say. Clean sweep…sweep out the bad luck & bad policies of TDM/AAB’s administrations.

  23. #23 by Loh on Saturday, 24 March 2007 - 10:35 pm

    ///I think AAB said they aim to achieve 30% equity by year 2010.///

    Well, the 30% and much more is already there. The year 2010 is tentatively fixed as the date to announce it, if they choose to do so.

    There are people around, especially the non-Malays who are ready to apologize for UMNO that it would be political suicide for UMNO if it ends NEP. Having been bullied since 1957, half a century now, non-Malays in bolehland seem to have developed ‘defeatist gene’ in their DNA, to accept willingly ketuanan UMNO. To them UMNO is entitled to rule forever. Accordingly UMNO can be excused for not taking responsibilities as elected representatives of Malaysans if the right policies could alienate some voters. So, UMNO is entitled to divide and rule, through NEP.

    The Siqiu group told TDM what they wanted the government to be fair to all races, and in return they would vote for BN. After having obtained non-Malay votes, TDM turned around and called them extremists.

    We have been expressing our hope that UMNO would come to their senses to terminate NEP, which has proven to be the only cause why Malaysia has become a Bolehland, trailing behind many countries in per capital GDP when we should have been ahead of them. What is worse is that a harmonious multiracial and multi religious country of the pre 1969 days has become one that requires the prop of state-organized open houses to give the impression of racial harmony. That is supplemented by the so-called national services costing billions ringgit in public funds. Of course there are leakages going to the well connected pockets; so make-belief harmony is more rewarding than the real thing.

    Apart from UMNO threathening May 13, the component non-Malay parties are whispering May 13. The condition for a repeat of May 13 where the power of a MB hanging in the hand of an independent candidate will not happen again. Besides, it would be too costly to invite part-time political workers to get physical next time around. There were only a few cars on the streets in 1969 where the probability of getting the desired effects were high; it is not so now. In short, it is impossible to organize a repeat of May 13.

    The non-Malays BN parties whisper to the ears of their supporters that they were the champions to get a few scholarships for the non-Malays, and thus did the communities great services. Had there been no NEP, and had the government been fair, these students that obtained their scholarships would have gotten them as a matter of course. On the other matters, the non-Malays did not have a say or influence on the policies decided by UMNO. In fact UMNO need not have to address the issues regarding policy decisions which are unfair to the non-Malays; they only had to say that the other component parties agreed and are party to the decisions, as so often stated by TDM. Without the non-Malays in the Cabinet, UMNO would have to be circumspect as to the opinions within and without Malaysia. The ruling UMNOputras can tell their supporters that they have to steal with fineness. In the process, UMNO might improve in its adminstration.

    UMNO cannot be trusted. Non-Malays component parties facilitate UMNO excesses. Non-Malays should vote opposition, including for PAS. Let us excercise our right to rock the boat, since reform within UMNO will never happen.

  24. #24 by undergrad2 on Sunday, 25 March 2007 - 12:49 am

    “There were only a few cars on the streets in 1969 where the probability of getting the desired effects were high; it is not so now. In short, it is impossible to organize a repeat of May 13.” Loh

    “Few cars” on the street as in “few”?? You gotta be jokin’! Even undergrads were driving cars. A first year female Chinese Economics student was driving a yellow Lamborghini to lectures. The other Lamborghini was owned by the Chairman of Bank Bumiputra who was burnt alive when his car caught fire in the early hours of the morning.

    “It is impossible to organize a repeat of May 13.”

    The race riots started with sufficient spontaneity to suggest that it could happen again. Certain political elements exploited the circumstances for their own political ends and gave the appearance that it was completely ‘organized’. The fact remains that the riots did not take off as a pre-planned initiative to suspend Parliament and have it replaced by the NOC.

    If similar riots were to happen (God forbid!) today it will be widespread.

  25. #25 by Loh on Sunday, 25 March 2007 - 11:52 am

    I said there are people who are ever willing to apologize for UMNO. I am not wrong!

  26. #26 by Richard Teo on Monday, 26 March 2007 - 2:53 am

    Tun Musa,
    Your proposal unfortunately came abit too late.The horse has already bolted and its too late to close the barn door.Sad to say, I am prepared to bet my last dollar that IDR will be a big flop.Investors dont overnight change their investment plans just because you give some incentives.Alot of planning and prior investment plans were deliberated before they commit their investments.What the govt offer in incentive can easily be taken away if previous record is any indication.So dont bet on any investors making any big splash in IDR

  27. #27 by Richard Teo on Monday, 26 March 2007 - 2:57 am

    Malaysia’s slide to third world status is inevitable.Its only recourse is to reverse some of its policies with respect to investments.Statistic dont lie.the slide in FDI will continue unabated and the repercussion will only be felt in a few years time. By that time the situation will be irreversible.

  28. #28 by DarkHorse on Monday, 26 March 2007 - 12:24 pm

    “I am not wrong!” Loh

    Does that mean you’re right?

  29. #29 by Loh on Monday, 26 March 2007 - 11:26 pm

    Yes, approaching from ‘not wrong’ to right.

    I should change what I have written ‘a few cars’ to ‘few cars, plus two Lamborghinis’

    Would May 13 happen again? It can’t if it is not organized. The NOC type of administration continues, except that the parliament is there to project the image of ‘parliamentary democracy’.

    Has racial harmony in the country improved over 1969? Definitely not.

    Would the ordinary Malays cause trouble if UMNO loses the election? Definitely not, otherwise they would not have voted PAS and other opposition parties. How else would UMNO lose?

  30. #30 by Maddresearch on Thursday, 29 March 2007 - 8:35 am

    Prime Minister is very sincere and wanted to improve the economy performance of this nation and build the confidence level of the majority bumiputeras by creating the idea of IDR, if UMNO members are not supporting his vision to make Malaysia a better place for investment, then please let us forget about IDR-lah, may be UMNO should think how to extend the NEP or NDP policy to world wide for another 3000 years, so the bumiputeras can reach their competency designed by the politicians.

You must be logged in to post a comment.