Monday, July 16, 2018

Spinning confidence need be sensibly done



In December 11, 2017, The Edge reported the Senior Vice President of UOB Malaysia forecasting ringgit to strengthen for 2018  from the level than of 4.07 to below the psychological level of 4.00.

That was a gutsy, specific and justifiable forecast made. The details HERE. Ringgit was flat that month before US dollar nosedive against ringgit to actually went as low as near 3.85.

Unfortunately, the economic senario took a different course and all the markets went under with ringgit weakened sharply and is expected to weaken further.

Confidence level on the economy, and the country is low. The euphorio is not over, but it will be once public realised the economic mess the new administration made. Lim Guan Eng screwed it big time with his so-called I am telling the truth bull.

After latex down and oil palm below RM2,100 per tonne, ringgit is expected to be do a sharp nose dive against US dollar. The opposite to the US dollar nosedive against ringgit the last time around.

Expectedly, the power at be are seeking media and analyst to avert the inevitable by painting a rosy picture and shed some confident on ringgit. Consequently, NST report yesterday reported ringgit can strengthen with a headline of 3.20.

Heaven's to Mega Troud! Ringgit is now 4.0250. At least, spin the story intelligently.

Sunday, July 15, 2018

Dear KJ from a Gen Y


There was a subsequent reaction from YB Khairy Jamaluddin on the appointment of former Attorney General, Tan Sri Apandi Ali on UMNO Supreme Council.

Apandi has since rescinded on the offer citing the controversy his appointment could attract. If retired Court of Appeal judge, Dato Mohamed Ariff bin Yusof could accept appointment as Speaker for Dewan Rakyat, why not Apandi.

Perhaps, being associated with 1MDB and 1MDB related debacle is a major hinderance to any involvement with UMNO.

Back to KJ, his earlier comment on the direction of UMNO did ruffled some feathers.

One would have thought he appealed to the Gen Y but one reporter of that generation, Zaidi Azmi wrote a Dear KJ on his Facebook:

Wednesday, July 11, 2018

Better not be Rais but a judge


Pakatan Harapan leaders met last Sunday to discuss the appointment of the Speaker for Dewan Rakyat i.e. Parliament. The announcement is expected today or tomorrow, if Tun Dr Mahathir is still trying to manouvre his way.

For quite sometime, words have been going around that Mahathir wanted Tan Sri Rais Yatim to be appointed Speaker but was resisted by the other leaders of PH. Sources claimed Mahathir asked for UMNO support from Dato Seri Dr Ahmad Zahid Hamidi in the meeting at Yayasan Kepimpinan Perdana prior to the party election together with his offer for UMNO MPs to join PPBM.

These days many loyal members of UMNO are questioning the loyalty-bility of their leaders and elected wakil rakyat, who could selfishly jump ship without giving due consideration to those who supported and voted for them. The selfish and betrayal acts of politicians raise concern of their integrity.

Though it is not the main concern in the third world politics of Malaysia, where political pundits are in awed with the slight of hands in the manouvering of politicians, irrespective whether it is morally and ethically correct, Zahid knew that it was inappropriate.

Be that as it may, PH government will find it hard to claim they are creating a new Malaysia with a highly inappropriate choice as Speaker. They should not choose Rais.

Tuesday, July 10, 2018

Handcuffed, chained for misdemeanor offense

Montage created from Bernama twitter report here

Tun Dr Mahathir denied he was vengeful but to those discerning eyes, not still in pampers and baby pacifier between 1981 to 2003, it is not believable. Not with the overtly aggressive actions of police, and MACC.

And, not with his recent statements and speech yesterday advising civil servants and politicians to be honest, avoid corruption and not enrich themselves, family and friends.

On the back of vengeful and witch hunting on civil servants, politicians and GLC CEOs throughout the country being removed drastically through dismissal, or immediate transfer or force resignation, there was a similar but small happening in Shah Alam yesterday.

A senior officer of MACC was handcuffed and chained by police to Shah Alam court to be charged for a relatively misdemeanor offense under the penal code.

Tuesday, July 03, 2018

Low-contribution Khazanah management need revamping


The Mole's column last week, Replacing GLC CEOs: Financial constraint or politics?, discussed the plan by new government to change the CEOs of GLCs.

The arguments against the idea is the disruption to the running of smooth running of government, politically motivated move, out dated practise, scepticism over high salary as the basis, and pay peanut, get monkey.

While, the argument for the sacking is financial constraint, loyalty to previous government, top executive self reward themselves, and GLC success is attributable to their government linked than CEO capability.

Be that as it may, a particular comment caught our eye:
If an organisation pays their top executives Singapore-level salary scale but contributes less than one per cent annually to government coffers, by all means, the Trump-style “you are fired!” is justified.
From a mile away, one could spot the target is Khazanah. Who will get fired at Khazanah?

Saturday, June 30, 2018

Reality bites on the reborn


During Hari Raya on the second day at the house of a VVIP, a son of the host's close friend was loudly talking of new hope from the change of government.

The lad works in Tokyo and has a Mat Salleh wife. There was no slang in his English - American or British or Ossie - but the fluency tells that English is the family's first language and his Malay is rather pelat.

His profession was IT thus his profile is a dead giveaway on his level of knowledge and understanding on the matter he commented.

Nevertheless, we should celebrate his aspiration. It is that of our's too but different in choice, experiance and pragmatism.

Talking of pragmatism, has reality bite on the new government and the public of the new government?

Thursday, June 28, 2018

Is Tommy capable of preparing the 1MDB, SRC and AMLA cases against Najib, Rosmah?


Over tea that stretched to dinner yesterday with a lawyer involved in a well known case, the subject of Tommy Thomas as new Attorney General came up.

The politically neutral and fairly level headed lawyer said, it would not be easy for him to be AG but not be involved in prosecution.

Tommy is good in his private practise on constitutional law, civil cases and contract related matters but he has no experience in building cases.

Defense lawyer work is easier as one only need to punch holes into the public prosecutor's case. The burden of proof on public prosecutor is heavier. The reason cases need to be almost 100% solid or if it could be quantified, 95% sure before taking to court to be punched holes by defense lawyers.

In the light of many cases coming up, in which the court of public opinion dubbed certain individuals as wrong, it maybe a different story in the court of law.

Tommy's statement to confirm receiving MACC's Investigative Paper and forming two teams to study it suggest few implications. The previous AG only needed only one team.

Former Chief Justice, Tun Abdul Hamid likened the manner Tommy operate as AG to a private practise lawyer.

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