Thursday, January 29, 2015

Economic sabotaguers rising up to the occasion

PM got much brickbat from that statement recently.

Right now, Pakatan leaders and supporters are spreading propaganda to say that Malaysia will soon experience severe economic crisis.

Yes, there are challenges due to falling oil prices but this is currently a BUDGET CHALLENGE and not a ECONOMIC CRISIS.

Please know the difference.

A BUDGET CHALLENGE is when govt made a budget forecasting certain revenues to cover certain expenses for the year but suddenly circumstances have changed that causes forecasted revenues to drop (such as oil & gas revenues to govt).

This is a BUDGET issue and can be solved by govt by juggling around - either by cutting certain expenses or increasing certain revenues (such as increased dividends from GLCs such as Khazanah, TNB, TM etc) or by re-timing large Capital expenditures. (this is what PM Najib is doing today with the revised budget to be released)

An ECONOMIC CRISIS is when our Malaysia's economic conditions have severely weakened due to worsening consumer confidence, or high interest rates or very weak demand from our export markets that causes local and foreign demand to fall.

This is simply not the case at the moment as NOT AS SINGLE ANALYST have forecasted Malaysia having less than 4% GDP growth in 2015.

Most analysts including the world bank are forecasting growth of between 4.7% to 5.5%.

This is because low oil prices help increase demand and growth in our export markets, weaker Ringgit is a boost to our exports and our local consumer demand remains intact.

Even 4% GDP growth is very good for a country like Malaysia,

In fact Singapore's GDP growth in 2014 was only 2.8% and they only forecast GDP growth of between 2-4% for 2015.


WARNING: Pakatan leaders are trying to UNDERMINE consumer confidence in Malaysia by continually spreading propaganda that Malaysia is experiencing economic crisis. And if they are successful, it will destroy Malaysia's local demand and local Investment and slow our growth.

These irresponsible people must stop doing this as it amounts to economic sabotage and is considered treason.

That was from our WHats App group. And this morning this came in.

Rogue traders are back with a vengeance to profit from the weakening ringgit against the US dollar with one taking a short sell position against the Malaysia ringgit amounting to USD1.2 billion (RM4.32 billion).

This particular player, a former banker, has a huge appetite for more and is said to be working with a few hedge funds to up the stake. The player will be revealed our next series.

The ex-banker started in September 2014 and in a short four months he has bet at least USD1.2 billion for the ringgit to fall. He is replaying what he did in 1997 when the greed of a few unpatriotic and disgraceful speculators caused them to have no qualms about making millions, if not billions, at the expense of the country. They made a lot of money short selling currencies they believed would fall, thus worsening the situation.

Forex traders watchers believe he is following the playbook of another prominent ex-banker who lost his finance empire after being exposed as among rogues who betrayed the country. He too lost his innovative banking group and left Malaysia for Canada, only to return later.
Read on here.

It tallies with a document called Dokumen Kajang that went viral some months ago. It was believes to be a blueprint prepared by Rafizi for PKR to do an economic sabotage. Whether it is true or not, Rafizi have denied. And, it need to ascertain whether Rafizi is telling the truth or not.

But, that banker is not so difficult to guess. Another posting revealed the ex-banker who is more a stockbroker than banker:

TKO header

An owner of a prominent news media empire is casting undue influence on the financial and political state of Malaysia for his own personal monetary gain.

Sources within Bank Negara Malaysia (BNM) revealed that Tong Kooi Ong, the owner of the Edge Group and The Malaysian Insider has taken a USD1.4 billion short position on the Ringgit through a proxy. The first transaction took place in August 2014 and subsequent short positions have been taken leading up to January 2015.

Tong Kooi Ong is no stranger to investments, notably during the last financial crisis, Tong took a similar short position with Rashid Hussein which resulted in a significant gain.
He is a former stockbroker, financial analyst and banker who founded and built Phileo Allied Berhad, one of the most successful and innovative financial banking groups in Malaysia in the 1990s. Phileo Allied Bank was subsequently taken over and merged with Maybank in 2000.

According to the source, Bank Negara Malaysia and the securities commission are monitoring Tong closely.

Continue here.

It happened during the flood disaster and this sabotage cannot be discounted in view of the existence of such documents, true or fake.

If true, ponder as to whether that is responsible politics and are these politicians the one the people can lay their fate with?


Anonymous said...

When people predict 1MDB will be in trouble, they were blamed of economic sabotage.

When people warned about our increasing debt ratios, they were called economic saboteurs.

Now those warning about economic crisis ahead & the risk to our ringgit from the falling oil price are accused of economic sabotage.

mapsscom said...




berasiam said...

sama ada berlaku krisis atau tidak, kebanyakan rakyat tidak peduli. keutamaan majoriti rakyat ialah untuk menikmati kehidupan yang selesa dari segi keperluan asas; makanan, kediaman, pakaian, pelajaran serta peluang perniagaan dan kerja.

kenaikan harga barang keperluan asas yang ketara bukanlah sekadar cerita rekaan. jika dulu kita sering membandingkan harga gula dengan negara jiran, sekarang pun kita boleh buat perbandingan. orang di Perlis mungkin lebih arif dengan perkara ini. penurunan nilai ringgit menjelaskan lagi perbezaan harga berkenaan.

tentang harga kediaman tidak perlu dibahaskan secara panjang lebar. kenaikan hartanah secara purata adalah 12% setahun dan meliputi semua jenis hartanah. kerancakan bidang ini langsung tidak menurun terutama di bandar. diwujudkan pr1ma pun hanya sebagai pemaju perumahan kerajaan yang tidak banyak membantu menngimbangi kenaikan harga hartanah yang berlaku. apatah lagi kebanyakan yang terlibat dengan pr1ma adalah muka-muka lama yang pernah menjerat ramai pemaju dalam projek perumahan tnb suatu ketika dahulu.

lambakan pendatang asing sama ada yang diizinkan atau tidak ternyata menggugat bukan sahaja peluang kerja malahan telah menjangkiti peluang perniagaan. masakan tidak, yang jual goreng pisang pun terdiri daripada orang asing.

kerajaan boleh bersikap pejam mata dengan semua masalah ini dan menumpukan kepada masalah ekonomi makro kononnya. sekiranya yang membawa kesan secara langsung kepada kehidupan rakyat ini tidak ditangani, bersediakah kerajaan untuk menghadapi kemarahan rakyat pada pilihanraya yang akan datang. rakyat tidak pedulikan pendapatan per kapita negara yang melangit tetapi lebih utamakan pengagihan yang saksama. jika menyingkap sejarah kedatangan kaum cina pada abad lalu, senario serupa sedang berlangsung dengan aliran pendatang bangla yang masuk setiap hari. jika cina dengan tongkangnya, kebanyakan bangla masuk melalui klia2. dalam 50 tahun akan datang, negara kita akan terus menghadapi polarisasi yang berterusan kerana bumiputera akan terus kalah dalam persaingan khususnya ekonomi.

Anonymous said...

You cant compare singapore's growth with malaysia's. Thats just bad and misleading. A 2 percent for a country as singapore is pretty good compared to a 4.x percent growth for a developing state like Malaysia. Might look a mere 2.x percent but you gotta take real figures as that 2 percent might be bigger than the 4.x percent. In a state such as singapore with no timber, palm oil, cocoa, petrol, land and you name em, its a pity that malaysia is only able to grow a mere halve of singapore. Crisis or not is subjective. The way we are heading, dont be too surprised if more jump on the bandwagon. My take is we are not yet at crisis level as that would happen when oil dips below 40

Anonymous said...

anon 6.45pm
i am no economic genius or math wizard, but.. that is why we use performance comparison using percentage.

Anonymous said...

When the Government puts a stop to extremist comments on both sides of the fence fairly, then people will feel more at ease. Taking action against the opposition members and their supporters for 'sedition' but allowing groups like ISMA, PERKASA etc to bark uncontrollably is not good for public perception and confidence. During Tun M's time he took appropriate action against any party viewed as extreme. Current Government should do that.

Anonymous said...

Malaysians MUST remember the DAP agenda of Malaysian Malaysia (read that as Chinese govenment of resource-rich Tanah Melayu).

This agenda will never die off, as long as DAP is taking tips from PAP.

Monitoring of DAP visits to red dot is critical to pre-empt any sabotage.

Anonymous said...

a smart leader can read what is going to happen before it happen, a dumb one will always find reason to procrastinate.

Anonymous said...

Wow..2% growth pn nak justify ke..more singaporean than a singaporean...fantastic...

My Say