Is Malaysia’s IPO Boom Overhyped?
– By Dhara Ranasinghe
CNBC
27 Aug 2012
Malaysia is marking itself out as the IPO destination to beat this year with a string of billion-dollar-plus deals. Impressive, for sure, but don’t take the booming IPO market as a sign that Malaysia is poised to become a regional financial hub, experts say.
The reasons for this, they add, are simple: once the slew of big Malaysian companies seeking new listings runs out there is likely to be a dearth of initial public offerings (IPOs) in Malaysia. Because Malaysia is still developing open and liquid capital markets, foreign firms looking to list in the region are likely to pick Singapore and Hong Kong over Kuala Lumpur.
All the big companies listed in Malaysia this year are local firms. To really develop itself as a centre for IPOs, Malaysia needs to attract new listings from big foreign firms in the way Singapore and Hong Kong have done in the past, analysts add.
“Part of the boom in the Malaysian IPO market can be explained by the well-developed pension system in Malaysia, which has allowed for growth in domestic demand for equities,” said Herald Van Der Linde, Head of Equity Strategy, Asia-Pacific at HSBC in Hong Kong.
“However, when it comes to comparing Malaysia with Singapore and Hong Kong, these markets are much larger, more diversified and much better developed. As such, they can compete for global IPOs. This is unlikely to happen in Malaysia yet,” Van Der Linde said. Read the rest of this entry »
Let the truth be upheld
— Mooreyameen Mohamad
The Malaysian Insider
Aug 27, 2012
AUG 27 — The recent article by Anonymous Policeman that claimed crime statistics are being massaged listed serious allegations about police conduct, and clearly raised questions about the veracity of the crime statistics itself. PEMANDU has repeatedly said that it depends on the police to present the data for reporting and that the data from the police were never massaged by PEMANDU.
However, if what is claimed by the article is true, then there are serious questions that need to be asked: is the police force under undue political pressure to perform their duties and therefore dispensed with their charter of being “Mesra, Cepat dan Betul” (friendly, fast and correct)? And, most importantly, keeping our eyes on the real goal of all this, how to deal with the situation?
First and foremost, in order to manage any situation properly, PEMANDU and the police must work with real data to size up the problem properly and to deal with the problem in the most appropriate manner.
If data has been massaged for whatever reason, the real depth and scale of the problem would be unknown, and resources may be misdirected accordingly due to the false data. So, data integrity is, needless to say but still important to remember, of the utmost importance. Read the rest of this entry »
Why Join Politics?
Media Statement by Yeo Bee Yin on joining the Democratic Action Party on Monday 27 August 2012 in Kuala Lumpur:
My mom has rightly asked, “you can have a decent and comfortable life now already, why choose such a hard life?” The reason is because I love this nation and desire to see a better Malaysia.
I have met just so many young and bright Malaysians who left home for better opportunities abroad. If all of these continue, we’ll soon reach a point of no return.
Therefore I decided to join DAP to make a change. I do not want to be a bystander as my country is going through one of the most important turning points of history, either for the better or worse future. I do not want to regret at the latter part of my life, seeing my country at peril, just because people of my generation have not done enough and have chosen comfort over sacrifice. To quote Edmund Burke (埃德蒙·伯克), “all that is necessary for the triumph of evil is that good men do nothing”.
I believe that Malaysian youths can make a difference, and am always encouraged by Apostle Paul who wrote in a letter to his spiritual son, Timothy, “Let no one despise you for your youth, but set an example in what you say, in the way you live, in your love, faith and purity.” Read the rest of this entry »
Was Najib aware of doctored crime statistics which caused him to single out a “safe Malaysia” as the theme of his Hari Raya message last week?
Posted by Kit in Crime, Najib Razak, Police on Monday, 27 August 2012, 1:26 pm
When in his Hari Raya message last week the Prime Minister, Datuk Seri Najib Razak pledged “a safe Malaysia” by assuring that all agencies responsible will be more effective in tackling crime to enhance security in the country, it raised eyebrows and queries among thinking Malaysians for two reasons:
Firstly, the assurance of a safe country is the most basic and fundamental duty of any functioning and successful government. The Barisan Nasional Government has claimed to be a very successful government, even making the Barisan Nasional election theme “Janji Ditepati” the 55th Merdeka Day/49th Malaysia Day theme! Why then the need to make such a pledge after 55 years of governing the country, unless Malaysia is no more as safe a country for its citizens, investors and tourists as in the past decades?
Secondly, the “safe Malaysia” theme of Najib’s Hari Raya message is even more baffling when his government has been trumpeting its extraordinary success and “Big Wins” in its Government Transformation Programme (GTP) and National Key Result Area (NKRA) in reducing crime – i.e. in 2011, drop in street crime by 39.7% and drop in overall crime index by 11.1% although Malaysians have never felt so unsafe in public places or even in the privacy of their homes!
Now, Malaysians are beginning to understand why Najib has made “a safe Malaysia” the main theme of his Hari Raya message last week. Read the rest of this entry »
Why I joined the DAP
By Dr Ong Kian Ming
The Malaysian Insider
AUG 27 — Before joining the DAP, I have never been a member of any other political party despite having worked for two think-tanks that were linked to the MCA and Gerakan. Why am I making the decision to join a political party now and why did I choose the DAP?
I believe that our country is at a critical juncture in its history where for the first time since achieving our independence, we have a credible and strong opposition capable of governing at the federal level. This has been most clearly demonstrated in the state governments in Penang and Selangor which have vastly outperformed their predecessors in terms of delivering transparent, accountable, responsiveness and caring governments.
At the same time, despite the various transformation initiatives which have been rolled out by our Prime Minister Najib Razak, there is still a glaring absence of fundamental structural reforms that are necessary to spark a genuine process of transformation. Not only is there the business-as-usual way of ill-conceived and murky deals being done — via the various 1MDB-linked land and asset acquisitions, just to name one — we also see a disturbing ramp-up in fear-mongering attempts by the BN-linked papers such as Utusan in order to raise feelings of ethnic insecurity.
Things seem to be getting worse for the country as a desperate regime clings to power, seemingly at all costs. As such, the time for sitting on the academic sidelines and commentating as an analyst is over. It is time, at least for me, to take the plunge and to play a more active role to bring about a necessary regime change in the country. Read the rest of this entry »
BN: Stop creating illusionary fear
— CL Tang
The Malaysian Insider
Aug 26, 2012
AUG 26 — Day in day out, Umno and MCA have been frightening the people with their doomsday scenario should Pakatan Rakyat wrestle power from their clutches.
MCA leaders keep harping to the Chinese electorate that a vote for DAP is a vote for PAS. Should Pakatan come to power, MCA suggests, rather ludicrously that DAP will bow down to PAS’ demands for the implementation of hudud law.
Never mind that PAS would not have the numbers to push this through parliament since their Pakatan partners, DAP and PKR, would never accede to it. In fact, PAS would have to rely on the other sole dominant Muslim political party, Umno, to have any chance of making hudud law a reality. Can MCA President Chua Soi Lek secure a promise from big brother Umno that it will never consider such a political alliance? If it is not able to do so, then it should refrain from lambasting DAP for its alleged subservience to PAS, when MCA dare not even stand up to Umno when it is being bullied. More importantly, MCA must stop using the threat of hudud law as its main political weapon against DAP, as it raises unnecessary fear and unease among the main races in Malaysia.
Umno leaders have been painting a picture of apocalypse should Pakatan win power. “Don’t take Malaysia’s peace and harmony for granted”, they exclaim over and over again, suggesting that Malaysia’s stability and race relations are so fragile that a change of power in a fair election could throw the entire country into chaos and mayhem. The May 13th incident is being cited again and again. Read the rest of this entry »
Kick them out
— Sam Peh
The Malaysian Insider
Aug 26, 2012
AUG 26 — There are two options that the BN government relies on: deny even in the face of evidence or keep silent.
The first option was used by Koh Tsu Koon (can anyone explain to me why he is still around? Didn’t he get trounced?) when he told the MCA newsletter that he was unaware that a circular had been sent out by the National Unity Department of the Prime Minister’s Department asking Chinese and Indian students to make up the numbers for the National Day Parade. For their troubles, they would get some cash and a T-shirt.
Koh said no such was needed. But the problem with that bare denial is that circular has been sent to several institutions of higher learning and that it appears that The Malaysian Insider has got its hands on one such circular. Of course, the MCA newsletter will publish anything without checking. Instead of taking the word of a Cabinet minister (who trusts these chaps?), their reporters should have called up the Department of National Unity or even checked with a few private institutions but I suppose that would involve doing some real journalism.
The second BN option is silence when faced with a troublesome issue. Sometimes, the silence is because Putrajaya believes that the issue will blow over. (That is why Putrajaya kept quiet for months while PKR lifted the veil of the NFC scam). Read the rest of this entry »
Hishammuddin’s recent announcement to make crime-busting “top priority” debunked by his four-day thunderous silence on allegation of fake crime statistics by “whistleblower” police officer
Posted by Kit in Crime, Hishammuddin, Police on Sunday, 26 August 2012, 12:58 pm
Some ten days ago, the Home Minister Datuk Seri Hishammuddin Hussein made the shocking admission that the focus on crime-busting was “not seen as a need” for the government, until only recently.
He then claimed that the government has “now got the political will right to the top” to fight crime.
This is an admission of a gross dereliction of duty by Hishammuddin as Home Minister.
I need only cite three reasons to back up such a harsh judgment. Read the rest of this entry »
We know this man, Mahathir
― Ali Kadir
The Malaysian Insider
Aug 25, 2012
AUG 25 ― He says that the Barisan Nasional is the devil that Malaysians know and we should stick with this devil because the Opposition is the devil we don’t know.
But we do know the Opposition. We know that DAP/PAS/PKR politicians don’t always stand on the same page; they make mistakes and say really dumb things and may even be arrogant. And not all their populist ideas will be good for Malaysia; some may be downright stupid.
We also know that they don’t have a Dr Mahathir Mohamad in their midst and that is always an advantage. He is the devil we know and have to put up with for more than two decades and now it does seem that, Mahathir is still running the country. And offering unsolicited rubbish as advice. Read the rest of this entry »
Stop 114A and stop these mistakes
Posted by Kit in IT, Law & Order on Saturday, 25 August 2012, 8:34 pm
— Michael Yap (loyarburok.com)
The Malaysian Insider
Aug 25, 2012
AUG 25 — I must admit that when the Evidence (Amendment) (No. 2) Act 2012 was given royal assent, it infuriated me so much that our new laws of Malaysia are nothing better than what we have had for the past 50 years. When every statute book of ours is filled with laws that are draconian, that respect no rule of law, that are harsh and cruel in punishment; and that work unfairly against the individual, the 2012 Act is certainly outrageous to the extent that no right-thinking Malaysian would ever believe what the law minister has professed to be the “legitimate aim” of the Act.
I too joined the Internet blackout day on August 14, and appreciated the fact that I was not alone, for thousands and millions of my peers echoed the same concerns on that very same day. It was — to me and to all Malaysians — a successful step in our battle against section 114A! It was truly momentous to see a united front in our cyberspace at that point.
However, having said that, it is alarming to see that not every Malaysian who opposed (and supported) section 114A are getting their facts (and contents) right. It is meaningless to see section 114A being repealed (or upheld) when the masses do not really understand what they are opposing (or supporting). Developments since August 14 have been vibrant as there are many more statements on the section being made by various stakeholders, plus increasing media reports over the subject matter, and not to mention the volume of comments on Facebook and Twitter.
I might not be well informed either on the issue of how many Malaysians truly understand the nature of section 114A and why we oppose it; there is neither empirical evidence nor statistics to reflect that. Perhaps those misinformed are just a minority or maybe I have inadvertently exaggerated such a phenomenon. But these are some of the errors that “might” be perceived amongst fellow Malaysians: Read the rest of this entry »
Is dishonest doctoring of crime statistics the answer to the three-year mystery why Malaysians suffer increasing fear of crime in the midst of official claim of drastic fall in crime rate?
Posted by Kit in Crime, Hishammuddin, Najib Razak, Police on Saturday, 25 August 2012, 5:29 pm
At last, Malaysians appear to have got the answer to the three-year mystery why Malaysians suffer increasing fear of crime in the midst of official claim of drastic fall in crime rate.
This came in the form of an email from a righteous and patriotic police officer with more than 30 years in service, which I received on Tuesday, 21st August, during the last day of my four-day 500-km visit to Sabah interior.
The email, under the subject “Crime Statistics – Let the truth be told”, had also been sent to other receipients and has since been published widely on news portals and websites.
In the email, the police officer who said he wished to remain anonymous, wrote:
“The police and Pemandu have feigned ignorance about the crime statistics manipulation. The figures dished out does not reflect the actual crime situation. How the figures were doctored is explained in the attached article. In fact the police and Pemandu knows about the manipulation but unable to undo the wrong.
“The public’s fear is justified. The police are in the wrong track of tackling crime.”
Another education ‘plan’?
Rom Nain
Malaysiakini
Aug 24, 2012
Tucked away on the inside pages of the Malaysian mainstream newspapers, far from the celebratory, feel-good stories of Hari Raya celebration, Umno politicians’ ‘open houses’ – largely paid for by us sucker taxpayers, I’m sure – and generally stories of gluttony and good cheer, was a report on the launch of yet another regime ‘plan’ or ‘blueprint’.
You may be forgiven for having missed this. After all, apart from being distracted by the Eid celebrations, by now many of us surely must be facing ‘transformation fatigue’ or ‘blueprint exhaustion’ after almost four years of clichés about change yet being really offered much of a muchness, more of the same.
But, nonetheless, what’s this latest lark, err plan?
Well, it’s the ‘education blueprint’, a purportedly massive – not to mention ambitious and, certainly potentially mucho expensive – undertaking to transform (S..t! There’s that darn word again) the Malaysian education system over the next 13 years. Read the rest of this entry »
Claims of doctored crime statistics need swift answers
Posted by Kit in Crime, Hishammuddin, Najib Razak, Police on Saturday, 25 August 2012, 3:04 pm
― Koon Yew Yin
The Malaysian Insider
Aug 24, 2012
AUG 24 ― Crime is an issue of great concern to everyone in the country. This is why it is necessary for the authorities to respond as soon as possible to the whistle-blowing letter from a police officer of over 30 years experience and his allegations of the doctoring of the official statistics. The longer the delay, the greater will be the impression that a cover up is taking place.
This disclosure of massaging and manipulation of the official statistics has been the hottest news over the internet media in the last few days and it has now been picked up by the opposition politicians.
To ensure that it does not become a political football and to preserve whatever trust and respect that the public has for the Barisan Nasional government’s statistics, especially related to the Government Transformation Programme, I would like to provide some advice to the Najib administration. Read the rest of this entry »
Defections raise Anwar election chances
Posted by Kit in Anwar Ibrahim, Corruption, Elections, Najib Razak, Pakatan Rakyat, Sabah, Sarawak on Saturday, 25 August 2012, 1:50 pm
By Anil Netto
Asia Times
August 24, 2012
PENANG – The defection of two key ruling coalition parliamentarians to the political opposition has shifted Malaysia’s pre-election equation and highlighted the importance of the crucial swing states of Sabah and Sarawak in what is expected to be a neck and neck contest.
Historically a “fixed deposit” of votes for the Barisan Nasional (BN), the coalition that has ruled the country consecutively since independence from colonial rule, Sabah and Sarawak are expected to play a prominent role in the coming general election pitting Prime Minister Najib Razak versus opposition leader Anwar Ibrahim.
BN won 140 of 222 federal parliament seats at the 2008 elections, a result that saw the Pakatan Rakyat opposition win control of five of 13 federal states. After the recent defections, BN holds 20 of 25 federal parliament seats allocated to Sabah and 29 of 31 in Sarawak on the island of Borneo.
If the recent defections signal a gathering trend away from BN, as some political analysts suggest, the two states have the potential to swing the next general election in favor of the opposition. The present parliamentary term expires in April 2013 and general elections must be held by October, although Najib has the prerogative of calling a snap election at any time. Read the rest of this entry »
Apakah hajat Dr M yang belum kesampaian itu?
Posted by Kit in Anwar Ibrahim, Mahathir, UMNO on Saturday, 25 August 2012, 11:31 am
— Aspan Alias
The Malaysian Insider
Aug 24, 2012
24 OGOS — Dr Mahathir Mohamad berkata rakyat tidak sepatutnya percaya kepada janji-janji pembangkang khususnya terhadap Anwar Ibrahim, Ketua Pembangkang.
Pandangan itu adalah pandangan beliau dan beliau berhak untuk memberikan pandangan terhadap sesiapa seperti juga saya mempunyai pandangan yang sama terhadap beliau (Dr Mahathir). Ini negara demokrasi dan sesiapa pun boleh dipercayai atau sebaliknya oleh sesiapa juga.
Dr Mahathir sememangnya kita tahu yang beliau tidak mahu langsung sesiapa untuk mempercayai Anwar, seteru politik terbesar beliau. Dr Mahathir mahukan semua orang bersama-sama memusuhi musuh beliau.
Tidak mungkin Dr Mahathir mempunyai pandangan yang baik terhadap Anwar. Kalau Dr Mahathir bercakap perkara baik tentang Anwar itu merupakan tanda-tanda yang jelas yang dunia ini akan kiamat tidak lama lagi.
Tetapi banyak pihak lain yang tidak percaya terhadap Dr Mahathir. Mereka tidak percaya terhadap Dr Mahathir pun bukannya tidak bersebab. Malahan salah satu dari sebab kenapa Umno secara deras ditinggalkan oleh orang Melayu adalah kerana Dr Mahathir.
Orang Melayu tidak meninggalkan Umno tanpa sebab. Tidak munasabah Umno yang begitu lama berkuasa dengan tiba-tiba ditinggalkan rakyat begitu sahaja. “There must be a cause for a cause…” kata seorang sahabat saya. Read the rest of this entry »
Call on Najib to establish tribunal to probe many serious allegations of corruption and abuses of power against Attorney-General Gani Patail by Mat Zain and Robert Phang
Posted by Kit in Anwar Ibrahim, Corruption, Crime, Najib Razak on Friday, 24 August 2012, 5:26 pm
Malaysiakini reported today that outspoken former Malaysian Anti-Corruption Commission (MACC) panel member Tan Sri Robert Phang has been cleared of the corruption allegations made against him.
This follows the confirmation by the MACC director of investigations Mustafar Ali in an SMS in response to a query from Malaysiakini.
Phang had been issued with a letter from Mustafar, dated November last year, clearing him of the allegation made by an anonymous blogger.
However, the letter from the MACC that cleared Phang also stated that it cannot be used for the purpose of publication by the media.
The MACC Chief Commissioner Datuk Abu Kassim Mohamed should be censured in Parliament if he cannot give satisfactory explanation why MACC suppressed information for some 15 months that Phang had been cleared of corruption allegations made against him.
In this connection, the Chairman of the MACC’s Operations Review Panel, Tan Sri Hadenan Abdul Jalil should also explain why he withheld information about Phang being cleared of corruption allegations some 15 months ago in May last year. Read the rest of this entry »
Mat Zain’s letter to PM – Gani Patail also violated BAFIA like Rafizi
Posted by Kit in Law & Order, Najib Razak on Friday, 24 August 2012, 4:05 pm
Mat Zain bin Ibrahim,
22 OGOS 2012
Kepada,
YAB Dato Seri Najib bin Tun Abdul Razak,
Perdana Menteri Malaysia,
Jabatan Perdana Menteri,
Putrajaya,
Wilayah Persekutuan
Yang Amat Berhormat Dato Seri,
Assalamualaikum wbt.
GANI PATAIL JUGA MELAKUKAN KESALAHAN JENAYAH DIBAWAH BAFIA SEPERTIMANA RAFIZI.
Rafizi Ramli,Pengarah Strategi PKR telah dituduh pada 1 Ogos 2012 dibawah Banking and Financial Institution Act 1989 (Bafia), kerana menyebabkan pendedahan empat penyata kewangan berkaitan NFC dan Pengerusi syarikat tersebut, Dato Seri Mohd. Salleh Ismail. Turut dituduh ialah Johari Mohamad, seorang bekas kerani Public Bank.
Read the rest of this entry »
Be aware of Fitch’s fiscal warning
— Ramon Navaratnam
The Malaysian Insider
Aug 23, 2012
AUG 23 — International ratings agency Fitch Ratings has once again warned Malaysia that its public finances are under sustained strain!
This firm but polite expression of censure, if not admonition, should not be played down by unduly highlighting Malaysia’s short-term good economic growth gains in the last two quarters of this year .
Neither should we be complacent about the serious declines in economic growth and stability occurring currently in the relatively rich developed industrial world. We can do this only at our own peril.
The fact of the matter is that Malaysia will be adversely affected by the global slowdown in the near future. The extent of our economic slide is difficult to project at this time. But we know for sure that we cannot take a “business as usual” attitude against the headwinds and strong disruptive socio-economic currents whirling around us, at home and from abroad. Read the rest of this entry »
Ignorance on Sabah: Nuid must take the rap
Posted by Kit in nation building, Sabah, Sarawak on Friday, 24 August 2012, 12:10 am
Ket Shin Pua
Malaysiakini
Aug 23, 2012
The recent police report made by Rozza Rothman against people from the peninsula insulting Sabah in Facebook postings reminds us again of the long and unceasing attitude of Malayans looking down on Sabah and Sabahans.
This is due mainly to the misconception created by the failure of the efforts of national integration and national unity made under the National Unity and Integration Department (Nuid) which has been operating since 1969 (after the May 13 riots), spending hundreds of millions of ringgits trying to bring together Malaysians in the peninsula and those in Borneo.
The Malaysian blog reported in July 2006 that “Probably 99 percent of Malaysians have not even heard of the very existence of the National Unity and Integration Department.
Ironically, as its name suggests, it is the one entrusted to ‘integrate’ and ‘unite’ the people and therefore should have been very familiar to the public!” the writer even commented, “What the devil have you been doing all these years except collect your monthly pay?”
The biggest problem with the Nuid is its plain ineptness, lack of creativity and drive. And the over-dominance of peninsular officers who have the attitude that it is the Borneons that need to be rehabilitated from the wild, to be civilised, so they can be on par with the more civilised Malayans.
There is less thought about rehabilitating the peninsular Malaysians into learning about Borneo which to them is unimportant and not even part of the real Malaysia. Read the rest of this entry »
MCA’s Record on Education: Shameful and Pathetic
Koon Yew Yin
The Malaysian Insider
21st August 2012
Various thoughts come to my mind on reading the report that the Selangor MCA will build more Chinese schools if Barisan Nasional regains the state at the coming election. According to the Selangor MCA chairman, Donald Lim Siang Chai the MCA “will help the state government approve more land for Chinese schools, particularly in predominantly Chinese areas in Selangor”.
One is of disbelief that the MCA leaders can stoop so low in their attempt to win a few seats in the coming elections. But perhaps we should not be surprised that the MCA is scrapping the bottom of the barrel in terms of political integrity. Learning from the senior partner, UMNO, electoral bribery appears to be the main item in the standard operating procedure manual of MCA for the coming election, so desperate is the BN to remain in power.
The second is to question why this proposal to build more Chinese schools has come now. After all, before Pakatan took over in 2008, the MCA was part of the Selangor state government for 50 years. During the past decade the demand for Chinese schools in the state (and in other urban areas of the country) has especially grown tremendously. However, this demand was ignored by the MCA leaders. Read the rest of this entry »
