Archive for August 25th, 2015
Acknowledgement by IGP Khalid that “no confidence” move against Najib is neither criminal nor police concern will allow a proper and less inhibited discussion of alternatives to the present Najib administration
Posted by Kit in Finance, Financial Scandals, Good Governance, Najib Razak on Tuesday, 25 August 2015
The country is sick and in crisis.
Today sees the rout of the Malaysian ringgit which fell to a record 17-year low of 4.26 to a US dollar and another record low of 3.08 against the Singapore dollar.
Malaysia’s foreign exchange reserves fell 19% since the start of the year, dipping below the US$100 billion for the first time last month since 2010, fueling speculation that Bank Negara is digging into the reserves to shore up the currency.
It has fallen to US$94.5 billion on August 14 from US$96.7 billion on July 31.
The lower a country’s forex reserves, the less it is able to do to shore up a sinking currency.
Meanwhile, capital outflows from the country are accelerating, to three times the size of capital investments in the country in Q1.
The reserves slid four times as fast as Indonesia, whose rupiah is the second worst-performing currency in the region. Read the rest of this entry »
Time for Najib to prove his patriotism – that the twin scandals of 1MBD and RM2.6 billion in his personal accounts can cause his personal political undoing, but they must not be allowed to cause the undoing of Malaysia with unmitigated political and economic catastrophes
Posted by Kit in Bersih, Najib Razak on Tuesday, 25 August 2015
On Sunday, I made the most unusual and unorthodox proposition of issuing an Open Invitation to the Prime Minister, Datuk Seri Najib Razak to make a joint appearance at Bersih 4 rally where the Prime Minister can hold face-to-face dialogue with Bersih 4 organisers and principal supporters on the state of democracy in Malaysia.
This was a follow up to my suggestion on Saturday that the Prime Minister should co-operate with the Bersih 4 organisers to turn the Bersih 4 overnight rally on August 29/30 into a Human Rights Carnival or Festival, where the human rights of freedom of expression and assembly of Malaysians are celebrated rather than suppressed, which will make it an unique event and milestone in the 58th Merdeka Day Celebrations – not only in Malaysia but globally.
I said the Prime Minister can be assured of full security and courtesy, as the police as well Bersih 4 organisers and principal supporters will ensure that the Prime Minister is not only safe but accorded the full courtesies and politeness which Malaysians show to their leaders and officials.
The Prime Minister’s dialogue with Bersih 4 organisers and principal supporters can be an historic occasion for Najib to do what he had failed to do in almost two months to “tell all” about the twin scandals which have not only haunted the Malaysian body politic but causing grave crisis of confidence as witnessed by the triple freefall of the Malaysian ringgit, the Malaysian stock market and the country’s international reserves – the 1MDB and the RM2.6 billion deposited into his personal accounts in AmBank in March 2013 just before the dissolution of Parliament and the holding of the 13th General Election.
In response, the Prime Minister said that he would rather discuss the RM2.6 billion donation controversy privately with UMNO members instead of issuing public statements.
He said: “I can explain. No problem, but not openly because it can affect the party.”
But obviously, Najib finds great “problem” in explaining the two scandals not only to the three million UMNO members, but even to the UMNO chieftains – which was why UMNO Deputy President Tan Sri Muhyiddin Yassin had vehemently protested that he did not know anything about both the 1MDB and RM2.6 billion scandals up to his summary sacking as Deputy Prime Minister on July 28. Read the rest of this entry »
1MDB a 1-tonne millstone
Posted by Kit in Bersih, Financial Scandals on Tuesday, 25 August 2015
George Chang
The Malaysian Insider
25 August 2015
Are those joining the Bersih 4 rally in various parts of the globe in bed with the conjured-up conspirators to sabotage the economy and dislodge Prime Minister Datuk Seri Najib Razak from office?
Look at the mess the government is in and you won’t fault them for wanting to see the PM go.
There is indeed frustration and anger with the state of affairs, and for those who identify themselves as Malaysians abroad, the rally is an opportunity to show their solidarity with the people back home.
After all public protests are very much part and parcel of life in the west.
No one in authority is going to threaten or stop you from attending a political gathering let alone an “illegal assembly”. A rally is a “proper channel” to voice your grievances. Read the rest of this entry »
On wearing a Bersih 4 T-shirt to church
Tan Foong Luen
Malaysiakini
Aug 24th, 2015
Life recently has been a roller-coaster ride. The Dow has plunged 531 points to end its worst week since 2011. Oil prices dipped to below US$40 – the lowest since 2009. The Swiss have launched a money-laundering investigation into 1MDB. The authorities have refused to grant a permit for the Bersih 4 rally.
As I knelt to pray this Sunday, I am mindful of the key verse in the Church bulletin: “For now we see only a reflection as in a mirror; then we see face to face. Now I know in part; then I shall know fully, even as I fully known. And now these three remain: faith, hope and love. But the greatest of these is love.” – 1 Cor 23:12-13
I had wanted to wear a Bersih 4 tee-shirt to church to create awareness. My wife had reservations as to the appropriateness as a church attire. She didn’t want me to create an uproar. Read the rest of this entry »
Strong fundamentals are weakening, we’re failing
Posted by Kit in Malaysian Dream, Najib Razak on Tuesday, 25 August 2015
Ramon Navaratnam
Malaysiakini
Aug 24th, 2015
Our leaders keep saying that our fundamentals are strong. This is comforting and consoling.
But actually our apparently strong fundamentals are weakening and we are failing. But we still have hope as we approach our 58th Merdeka anniversary.
Whether we like it or not the falling value of our ringgit is a fair reflection of the state of our nation. Our gradual socio-economic and political decline does not indicate confidence in our strength or success, but sadly our weak fundamentals and prospects.
The performance of the ringgit is like a thermometer that measures our economic fever. Indeed the economic temperature is rising, while our socio-economic and political health is failing.
If we do not arrest our ringgit decline, our economy, like our health, can deteriorate rapidly. Then we could become a ‘failing state’. But if we still adopt an apparently complacent and cavalier attitude towards the falling ringgit and our current slackening socio-economic system, then there would be the rising risk of becoming a failed state. Read the rest of this entry »
-
You are currently browsing the archives for Tuesday, August 25th, 2015
