Archive for category NEM
Budget 2011: Would Razaleigh’s warning be heeded
Posted by Kit in 1Malaysia, Economics, Najib Razak, NEM, Razaleigh Hamzah on Thursday, 28 October 2010
2011 Budget not a child of New Economic Model but bears all the marks of old discredited Mahathirish policies (Part 2 of 5)
A veteran leader had warned that “It is time to wake up”.
He said: “Without a doubt, Malaysia is slipping. Billions have been looted from this country, and billions more are being siphoned out of the country as our entire political structure crumbles.”
Warning that corruption is the single biggest threat to the nation, he warned that corruption has become institutionalized in our political system and ruining Malaysia.
Who is this veteran leader? He is the head of the Barisan Nasional by-election in Galas, the MP for Gua Musang Tengku Razaleigh.
Will his views about the crisis of nation-building now be heeded? Of course not – just as it is clear that the Prime Minister does not have the political will to implement the New Economic Model (NEM) which he launched on March 30 to transform Malaysia into a developed, competitive and high-income economy with inclusivity and sustainability.
Read the rest of this entry »
Tan Zhong Shan – top law student at Cambridge University is Malaysian and latest example of our costly brain-drain
Posted by Kit in Economics, Education, Najib Razak, NEM on Tuesday, 19 October 2010
Congratulations to Ipoh-born 23-year-old Tan Zhong Shan who has emerged as the top student in his final-year law examinations at Cambridge University.
In a report headlined “Malaysian is top law student at Cambridge University”, the Star today reported that Tan obtained a first-class honours in the Bachelor of Arts (Law) in June this year at Queens’ College, which is part of the university, one of England’s oldest and most prestigious.
The report said:
“He even scored the ‘Slaughter and May’ prize given by the university’s Law Faculty – an award given to those who achieve the best overall performance in the final-year law examinations.
“Other coveted prizes he bagged include The Norton Rose Prize for Commercial Law, the Clifford Chance Prize for European Union Law and the Herbert Smith Prize for Conflict of Laws.
“Queens’ College dean Dr Martin Dixon said Tan definitely stood out among the students there.
Read the rest of this entry »
2011 Budget – Eulogy for NEM and relaunch of Mahathir economic model (Part 4 of 4)
Posted by Kit in Economics, Mahathir, Najib Razak, NEM on Monday, 18 October 2010
Human Capital Issues
The allocations announced in the Budget for human capital development are indeed impressive. However, the question arises if the nation will get value for its money. There can be no denial of the fact that the Malaysian educational system is in disarray.
Standards have fallen dramatically. Our universities turn out graduates who lack rudimentary skills demanded by employers thus contributing to low productivity and loss of competitiveness. Our secondary school system is in disastrous shape.
Those who are charged with educating the next generation of Malaysians to be responsible citizens are more interested in promoting race hate as recent episodes of misbehavior by teachers highlight.
The lack of an adequate reaction from the top echelons of the Government has sent a strong signal to others in the educational system to project the message of hate that BTN promotes with impunity. These despicable acts and patterns of behavior give credence to the notion that the 1Malaysia slogan is nothing more than a catchy slogan devoid of meaning or sincerity.
Read the rest of this entry »
2011 Budget – Eulogy for NEM and relaunch of Mahathir economic model (Part 3 of 4)
Posted by Kit in Economics, Mahathir, Najib Razak, NEM on Monday, 18 October 2010
The Pivotal Role of the Private Sector
Much was made in the ETP presentation about reinvigorating private investment, with 92% of the total projected investment of US$444 being investment by the private sector. These expressions are repeated in the Budget Speech. However no details have been provided as to how this target is to be achieved.
The speech tantalizingly offers the suggestion that the Government will intensify the Public-Private Partnership to “… enhance private sector involvement in economic activities” To this end the Government proposes to invest RM 1 billion from the Facilitation Fund in support of several infrastructure projects.
On the one hand the formulation is built upon the notion that the private sector will be unleashed; and yet the ETP is in reality a top down creation. PEMANDU is seemingly picking “winners” and it would imply that Malaysia is about to embark upon a new form of central planning to get to highly untenable targets.
Read the rest of this entry »
2011 Budget – Eulogy for NEM and relaunch of Mahathir economic model (Part 2 of 4)
Posted by Kit in Economics, Mahathir, Najib Razak, NEM on Monday, 18 October 2010
Recent Economic Performance & Prospects
In the formulation of the Budget for 2011, the Prime Minister made the claim that the Malaysian economy had recovered from the global economic recession.
In an act of self congratulation, he attributed this to the proactive measures taken by the Government through the RM 67 billion stimulus package. He however failed to acknowledge that other countries in the region had performed equally well or even exceeded Malaysian performance.
The statistics he cited refer to the short term and are soothing. However, he made no mention of the challenging issues that will determine the medium term performance of the nation’s economy.
He appears to be suffering from a bout of amnesia about the need to address the issue of subsidies and to achieve fiscal balance.
Read the rest of this entry »
2011 Budget – Eulogy for NEM and relaunch of Mahathir economic model (Part 1 of 4)
Posted by Kit in Economics, Mahathir, Najib Razak, NEM on Monday, 18 October 2010
The Budget presented by the Prime Minister was a eulogy for the death of the New Economic Model. It provides a clear confirmation that this Government is incapable of living up to the rhetoric of reform that it had vigorously promoted over the past year.
The slogans and feel good speeches crafted by highly paid spin doctors have not been translated into clear action programs. The divided and weak BN Government remains mired and has now demonstrated its inability to deliver upon its promises of change.
The Budget marks the return to failed economic policies of the past. The Mahathir Economic Model built around mega projects, crony capitalists as key players, bailouts and handouts is once again alive and returns to haunt the nation.
The Budget yet again demonstrates that this administration is incorrigibly incapable of drawing lessons from the past and persists with policies that have entrapped Malaysia in the middle income trap.
The Budget for 2011 has all of the attributes of a blunt tool for distributing public funds to UMNOputras, BN cronies, and vested groups that constitute the vote bank of the Barisan.
Read the rest of this entry »
Why after more than half a year, not a single Cabinet Minister dare to rebut the communal extremists and state that the New Economic Model is not against Article 153 of Constitution?
Posted by Kit in 1Malaysia, Najib Razak, NEM, Parliament, UMNO on Tuesday, 12 October 2010
I walked out of Dewan Rakyat in disgust this morning.
I had stood up to ask a supplementary question for the first oral question which was on the New Economic Model, but the Deputy Speaker, Datuk Ronald Kiandee, who was in the chair, refused to call me.
The question on the New Economic Model was posed by the UMNO MP for Maran, Datuk Haji Ismail bin Hj Abdul Muttalib who asked the Prime Minister “to state the guarantee that in carrying out the New Economic Model it is effective and will achieve the objective set out to make Malaysia a high income nation and at the same time spur the economy and the programmes planned for implementation”.
The answer was given by the Deputy Minister in the Prime Minister’s Department, Datuk S. K. Devamany.
If I had the opportunity to pose the supplementary question, I would have observed that on the second day of the 34-day of the budget Parliament, the absence of the Prime Minister, Datuk Seri Najib Razak or anyone of the many Ministers in the Prime Minister’s Department to answer this question shows that the Barisan Nasional government is neither really seriously nor fully committed whether to Najib’s 1Malaysia concept, New Economic Model or Parliament.
Read the rest of this entry »
Key political risks to watch in Malaysia
Posted by Kit in 1Malaysia, Anwar Ibrahim, Corruption, Economics, Elections, Islam, Najib Razak, nation building, NEM, Sarawak, UMNO on Sunday, 3 October 2010
Oct 1, 10
Reuters/Malaysiakini
Malaysia has unveiled ambitious plans to boost its economy by mobilising hundreds of billions of dollars of private investment, although questions remain over whether the money will materialise.
Prime Minister Najib Abdul Razak’s cut in fuel, gas and sugar subsidies in August triggered a political backlash that may see him holding off more reforms ahead of the next general elections due by 2013.
Najib has pledged to reform the country’s subsidy bill to tackle the budget deficit. But he is wary of upsetting the country’s majority ethnic Malays, a critical votebank whose support will be vital as he tries to revive his ruling coalition which was hit by record losses in general elections in 2008.
Following is a summary of key Malaysia risks to watch:
Political conflict
Political tensions spiked after the 2008 general election when unprecedented opposition gains transformed the political landscape. BN coalition’s 52-year grip on the country was dented when it ceded control of five states and lost its two-thirds parliamentary majority to an opposition led by former Deputy Prime Minister Anwar Ibrahim.
The political uncertainty has weighed on foreign investment with net portfolio and direct investment outflows reaching US$61 billion (RM188 million) in 2008 and 2009 according to official data. Money has since flowed into the bond market according to central bank statistics, but little has flowed into equities.
What to watch:
• Opposition leader Anwar Ibrahim’s sodomy trial. Anwar says the case is a political conspiracy, and a contentious verdict would anger his supporters. Any marked increase in political tensions could see more foreign money pulled from stocks, bonds and the ringgit. But with limited foreign portfolio investment still in the country, the impact will be muted.
• Elections in the Borneo state of Sarawak, expected by the end of this year. The state’s chief minister has directed the ruling coalition to ready itself for state-wide polls, and analysts say nationwide elections could follow soon after. BN’s shock defeat in a May by-election in Sarawak raised doubts over its support levels in the state. Read the rest of this entry »
International deluge of criticisms on persecution of Anwar
Posted by Kit in 1Malaysia, Anwar Ibrahim, Court, Economics, Foreign, Najib Razak, NEM on Tuesday, 28 September 2010
By Dr. Chen Man Hin, DAP life advisor
International deluge of criticisms from the conspiracy to convict Anwar of sodomy 2
Suddenly there appears to be a deluge of international personalities criticising the Malaysian government for persecuting Anwar on trumped up charge of sodomy 2.
It started with ex US vice president Gore, and IMF chief Stiglitz, followed by Barry Wain former AWSJ correspondent as well as a former US ambassador to Malaysia John Croft
All of them unanimously condemned the conspiracy to paint Anwar as a sodomist and therefore not fit to be the Opposition Leader.
These are all distinguished members of the international community who are shocked in unison by this serious transgression of justice, democracy and the rule of law by the Malaysian government. UMNO, the power behind the prime minister, intends to perpetuate their power by trying Anwar on trumped up charges of sodomy, to convict and imprison him, thus denying him the opportunity to be the next Prime Minister.
Read the rest of this entry »
Pakatan Rakyat must be prepared for snap 13th general elections to be held in six month
Posted by Kit in 1Malaysia, Elections, Najib Razak, NEM on Sunday, 26 September 2010
The Mentri Besar of the usurper Barisan Nasional Perak state government, Datuk Seri Zambry Abdul Kadir has called on Barisan Nasional component parties to be prepared for snap polls and Barisan Nasional component parties are openly calling on their members to be ready for early general elections next year.
DAP and Pakatan Rakyat must be prepared for snap 13th general elections to be held in six months.
In his 18 months as Prime Minister, Datuk Seri Najib Razak has launched three major initiatives – 1Malaysia policy; the New Economic Model and on Tuesday, the RM1.4 trillion Economic Transformation Programme (ETP) to achieve a high-income economy by 2020.
However, all these three Najib landmark measures have failed to take-off successfully as illustrated by the lukewarm response of the RM1.4 trillion ETP in the Kuala Lumpur stock market. Read the rest of this entry »
How real is the Economic Transformation Programme?
The Economic Transformation Programme (ETP), the latest pronouncement by Minister in the Prime Minister’s Department Datuk Seri Idris Jala, follows upon a number of other pronouncements that have become the hallmark of Dato Seri Najib’s administration.
Like the previous pronouncements of 1Malaysia People First Performance Now, the Government Transformation Programme, the 10th Malaysia Five Year Plan, the ETP is rich in rhetoric.
The sloganeering and spin that is common to all of these exercises provides a clear indication that the Government led by Najib is wholly at sea in tackling the enormous challenges that the country faces.
These challenges have accumulated over the wasted three decades characterized by mismanagement, corruption and abuse of power that has benefited a small coterie.
A common feature of the series of announcements is that they contain unrealistic assumptions about economic growth prospects; they use clichés that are taken from business school texts that have been spun in order to create a false impression of a rethinking of policies.
The various announcements of “policies” and “strategies” are littered with a slew of abbreviations such as KPIs, NKRAs, MKRAs, NKEAs, EPPs and BIZ Ops are freely bandied about. Read the rest of this entry »
Najib’s failure to stand up and be counted to condemn extremism and extremists especially from his own camp will be the undoing of his 1Malaysia concept
Posted by Kit in 1Malaysia, Economics, globalisation, nation building, NEM on Sunday, 19 September 2010
Malaysians are witnessing the Prime Minister, Datuk Seri Najib Razak, performing one of his biggest flip-flops in his 18 months at the helm of the country’s administration.
Najib’s attempt to distance or disentangle Umno from Perkasa did not last more than a week from the announcement of the Umno Secretary-General that Perkasa was eroding non-Malay support for Barisan Nasional to Najib’s Malaysia Day message expressing sadness at the rise of extremism in his 18 months as Prime Minister.
Most ironically, Najib chose the Yayasan 1Malaysia seminar themed “Living In a Multi-Ethnic Society” in Kuala Lumpur after the Malaysia Day celebrations in Sabah to perform the flip-flop – refusing to name Perkasa as the worst culprit responsible for the rise of extremism and scaring away foreign investors.
This is now followed by Tengku Adnan’s flip-flop today denying that the Barisan Nasional parties had agreed to keep a distance from Perkasa.
If Barisan Nasional parties had never agreed top keep a distance from Perkasa, are MCA and Gerakan national leaders to “eat their words” for publicly welcoming such a decision? Read the rest of this entry »
ANALYSIS – Malaysia “top-down” reforms set to disappoint
Posted by Kit in 1Malaysia, Economics, Najib Razak, NEM on Tuesday, 14 September 2010
By David Chance | Reuters
Malaysia’s plans to revitalise investment by backing national champions and ending race-based policies may sound ambitious, but the details are hazy and real economic reform will face formidable obstacles.
The government starts public consultations this month on a new round of reforms, but there is growing resistance from voters and disappointment from investors over measures taken so far.
A government think tank has identified a dozen growth industries such as oil and gas, biotechnology and Islamic finance to focus on in a drive to double Malaysia’s income per capita and propel it into the ranks of “developed nations” by 2020.
Prime Minister Najib Razak’s record on reform is patchy — he shied away from big subsidy cuts and reversed tack on race-based preferential equity ownership rules for the majority ethnic Malay population under pressure from activists.
Read the rest of this entry »
Will PM Najib Razak push through an effective NEM to transform a failed problem ridden Malaysia?
Posted by Kit in 1Malaysia, Dr. Chen Man Hin, Economics, Najib Razak, NEM, NEP on Tuesday, 14 September 2010
by Dr Chen Man Hin, life adviser DAP
IT WILL TAKE A LIBERAL NEW ECONOMIC MODEL AND A STRONG PRIME MINISTER TO PUSH MUCH NEEDED REFORMS TO TRANSFORM MALAYSIA INTO A HIGH INCOME COUNTRY WITH DEMOCRACY, JUSTICE AND PROSPERITY FOR ALL REGARDLESS OF RACE OR RELIGION.
The political and economic outlook for the country is critical. We are riddled with multiple problems of corruption, lack of judicial independence, racialism, brain drain, with 40% of households living below the poverty level of RM1,500, and four out of five poor households are bumiputras.
All these things are happening even after two years of PM Najib rule since April 2008. His 1 Malaysia and mediocre attempts at reforms have failed.
WORLD RANKINGS OF MALAYSIA
The sorry state of political and economic development is reflected in the world ranking status of Malaysia on areas which indicate whether a society is honest, democratic, transparent,and just.
Read the rest of this entry »
Umno and the average Malay
By Cheong Suk-Wai, Senior Writer
The Straits Times, June 1, 2010
TABLE TALK WITH MAZNAH MOHAMAD
IT USED to be that whenever it came to election time in Malaysia, the country’s ruling party Umno would gets its community development workers to fan out to all the hamlets on bicycles and on foot to take the political temperature and assure villagers that Umno was the best doctor for them, taking care of their births, deaths and everything in between. But then village youth began migrating en masse to towns from the 1980s and Umno lost these rural forts.
Malaysian sociologist Maznah Mohamad recalls Umno’s women telling her how urban folk would shoo them away and even hurl insults at them if they tried to woo them. Dr Maznah, 54, notes wryly: ‘You can’t go knocking on doors in, say, Subang Jaya. People will just chase you away. There’s no community spirit in such neighbourhoods. Anyway, they’re urbanised, so why would they need you to help them?’
Read the rest of this entry »
To Modernize, Can Malaysia Move Beyond Race?
Posted by Kit in 1Malaysia, Najib Razak, nation building, NEM on Saturday, 11 September 2010
Time
Sunday, Sep. 05, 2010
By Michael Schuman / Kuala Lumpur
Malaysia is that rare country with an unequivocal national narrative. It goes something like this: Malaysia’s 28 million people, comprising mainly Malays, Chinese and Indians, make up a moderate and modern emerging democracy. Unlike members of other multiethnic countries, they respect one another’s beliefs and values and share a commitment to achieving prosperity. The official religion is Islam, but other faiths are freely allowed and celebrated. This is one harmonious place.
Much of that narrative is true — but not all of it. Malaysia’s economic miracle has stalled, and while the nation is, indeed, somewhat pluralistic, it is no melting pot. Indeed, it is a society where people define themselves first and foremost by race.
The country’s political leadership has in some respects reinforced those ethnic identities. For the past 40 years, policymakers have doled out special privileges — in education and business — to one community: the majority Malays. The program is one of modern history’s greatest experiments in social engineering and possibly the world’s most extensive attempt at affirmative action. But the policies have also bred resentment among minorities, distorted the economy and undermined the concept of a single Malaysian identity.
Now a movement is gaining strength to finally change the system — and it’s coming from the very top. Prime Minister Najib Razak, 57, has surprised the country by advocating a fundamental reform of the pro-Malay program first introduced, ironically, by his father, who was Malaysia’s Prime Minister in the 1970s. Though the specifics of the new policies remain hazy, Najib’s intent is not. “I want Malaysia to be globally competitive,” he told TIME in an exclusive interview. “For that, we need to get every single Malaysian to be together.”
Read the rest of this entry »
Malaysian universities falling out of top 200 universities in QS World University Rankings 2010 latest proof that Najib’s NEM are just empty words lacking political will and leadership necessary to effect Malaysia’s economic transformation
Posted by Kit in Najib Razak, NEM, university on Thursday, 9 September 2010
Malaysian universities have again fallen out of the top 200 universities in the latest QS World University Rankings 2010, with University of Malaya falling from last year’s ranking of 180 to 207.
This is the latest proof that Prime Minister Datuk Seri Najib Razak’s New Economic Model are just empty words lacking the political will and leadership necessary to effect Malaysia’s economic transformation to escape the decades-long “middle-income trap” to become a inclusive and sustainable high-income developed country by 2020.
The Najib premiership is fast developing a split personality – plugging the NEM for international consumption with its recognition of human talents as the most valuable national assets in the era of globalization while ignoring NEM locally for fear of evoking extremist opposition to its proposals on new affirmative policies based on meritocracy and needs.
During the Sibu by-election in May this year, I had referred to the latest QS Asian University Rankings 2010 where the country’s premier institution of higher education, University of Malaya had dropped two places to 41st this year from 39 last year while Universiti Sains Malaysia, which was granted Apex status in 2008 only managed to maintain its ranking at 69, and lamented Malaysia becoming the “sick man of South-East Asia”- Read the rest of this entry »
Mahathir is the major obstacle to Najib’s 1Malaysia and National Transformation Agenda
Posted by Kit in 1Malaysia, Mahathir, Najib Razak, nation building, NEM, NEP on Wednesday, 1 September 2010
Former Prime Minister Tun Dr. Mahathir Mohamad blogged on the 53rd National Day eve that “today the races are more divided than ever”.
The implications of Mahathir’s statement merits attention.
Here we have the country’s longest-serving Prime Minister in fact telling the current Prime Minister, Datuk Seri Najib Razak that despite this year’s Merdeka Month theme: “1Malaysia: Transforming the Nation” and the latter’s 1Malaysia policy and National Transformation Programme for 18 months since assuming the highest office in the land in April last year, national unity and inter-racial relations had never been so bad at present as compared to any time in the 22 years Mahathir had been Prime Minister from 1981 – 2003.
Would Najib agree to this Mahathir assessment as the present Prime Minister was during those 22 years of Mahathir premiership either Pahang Mentri Besar or a Cabinet Minister, starting as Minister for Youth and Sports before being appointed to Education and later Defence portfolios – while in Umno, occupying the posts of Umno Youth Leader (especially during the Operation Lalang years) and Umno National Vice President from 1995-2003?
Read the rest of this entry »
Acronym soup swamps Malaysia reform drive
Posted by Kit in Najib Razak, NEM on Wednesday, 25 August 2010
Reuters
Global News Journal
Aug 25, 2010
Malaysia’s Prime Minister Najib Razak says he has embarked on a series of radical economic reforms. In reality it feels as if he has unleashed a barrage of incomprehensible acronyms on the unsuspecting public of this Southeast Asian nation.
The charge for economic reform is being led by the snappily named PEMANDU. As well as being the Malay word for “driver” it stands for the government’s Performance Management and Delivery Unit.
PEMANDU is in charge of formulating and implementing NKRAs (National Key Result Areas), MKRAs (Ministerial Key Result Areas) and getting “Big Results Fast”, according to its website, although it singularly failed to win political backing for a radical revamp of Malaysia’s costly subsidy regime. Read the rest of this entry »
-
You are currently browsing the archives for the NEM category.
