UMNO need to retake the mantle of Malay leadership

For one, the Malay brand is no more the sole ownership of UMNO but that of many. 

So do the alternative Islamic branding, in which PAS has an oligopoly nearing a monopoly on conservatism and only left is a niche progressive Islamic segment to be shared with others.  

Despite remaining in government, UMNO has yet to set itself apart and be seen as holding the mantle of Malay leadership and the agenda setter it once was. 

It is not enough to talk of merely of Bumiputera empowerment or educate members on TVET initiatives or efforts of the various UMNO Ministers in their Ministries 

At the UMNO General Assembly, the discussion; ever since losing government in 2018 till the recent one, remained focus on politics, party matters, and conduct of its political affairs. 

It is still repeating and convincing the same explanations and matters arising since 2018 and 2022 GE15. Is the UMNO masses that blase?

Sinkhole and sinking coastal cities

Taken from the Youtuber EARTHBOUND, 3 years ago: 

Temperatures and sea levels are rising all over the world. Low-lying coastal cities are already dealing with disastrous floods and are desperately trying to find innovative ways to combat rising sea levels. Here are ten sinking cities that will soon be underwater.

Jakarta was mentioned. In South-East Asia, two other cities are also seriously facing the risk of sinking; namely Manila and Bangkok.

Malaysia's Kuala Lumpur and other coastal cities are not spared too.

The effect of climate change is not a hoax as claimed by Donald Trump. During his 22 years 'reign', Mahathir too ignored the environmental cause championed by fomer US Vice President, Al Gore. 

Is "end is near" for Mahathir man, Vincent?

 

Extract from "The Impending Fall of Vincent Tan":

Sources claimed Vincent's allegation against Spanco is libelous and does not represent the true picture of his contract. 

Without revealing the details yet, the terms of the concession awarded to Vincent from Mahathir is not the same with the original Spanco contract. Vincent's does not include vehicle maintainance in the contract.   

An intelligent guess would be that Spanco did not take kindly to the allegation by Vincent. The reason their lawyer Edmond Bon disagree with the term of withdrawal. Is a counter lawsuit in the making? 

Robert Tan who was questioned by MACC for Spanco have every reason to be angry for the ordeal the he had to go through. 

Can Thaksin's "return" revive Thai economic crisis?

Star Online published the following report from Reuters:

Thai economy is nearly in crisis: Caretaker finance minister

Thailand

Wednesday, 21 Aug 2024 12:14 PM MYT

BANGKOK: Thailand's economy is nearly in crisis due to declining exports and uncompetitive manufacturing, the country's caretaker finance minister said on Wednesday (Aug 21).

Exports accounts for 70% of the economy but the manufacturing sector can't meet market demand, Pichai Chunhavajira told a business seminar.

"We can't compete. We can't adapt in time," he said.

Malaysia’s GDP grows 5.9% in Q2 2024

KUALA LUMPUR: Malaysia’s economy grew 5.9% in the second quarter of this year (Q2 2024) thanks to stronger household spending amid positive labour market conditions and larger policy support.

Bank Negara Malaysia also attributed the strong growth rate to a pick-up in exports and tourist arrivals, as well as robust expansion in investment activities.

The figure is slightly above the statistics department’s advance estimate of 5.8% released earlier this week.

At a press conference here, BNM governor Abdul Rasheed Ghaffour said headline inflation is projected to average between 2% and 3.5% this year.

He said household spending remains the anchor of Malaysia’s growth, with consumer spending expected to improve going forward.

Read on in Thick as a Brick HERE

Stock meltdown bring attention to Malaysia

 And, so much for market getting more pessimistic on the possibility of  recession after last week's public relation exercise by Wall Street to claim it is not as bad. In Star Online today, "Market pricing in higher recession odds", the sub-heading reads "Goldman, JP Morgan say chances of downturn still remain".

Not too far off from this blogger's expectectation of the post- "crash" market condition  here. There is also the contrarian view such as this Wells Fargo strategist's prediction of 1995 re-run here.

However, the "crash" seemed to be a blessing in disguise. Despite the fear of war in the Middle East and Russia-Ukraine war could erupt with a Ukraine attempt to encroach into Russian controlled area, Malaysia is on the spotlight.

Its getting re-rating from none other than Goldman Sachs, the Investment Bank in a legal dispute with Malaysia in relation to 1MDB.  

Bloomberg reported:

(Aug 9): This week’s upheaval in global equities is prompting investors in Asian stocks to turn their attention to markets where their ownership has been falling in recent years, with China and Malaysia fitting the bill.

Impact of Trump's return on Malaysia

The elephant in the room is the possibility of Donald Trump returning to White House. He anticipate Trump to renew trade war against China and there will be a massive wave of relocation that will benefit Malaysia, Singapore and Vietnam.  

However, there is a contrarian view by the ANZ banking group. Malaysia is said to be the most vulnerable. Trump's second term is expected to be more isolationist, inward in foreign policy, and trade policy against China will be more prohibitive. 

Quoting from Edge report below: