Wonderful Tonight

Wednesday, November 29, 2006

While Malaysia fiddles, its opportunities are running dry

These are something that many of us have known, wonder and worry. The issues is very simple, logic and straight forward. Nothing is complicated. But some jokers just can't understand it and accept the fact nor the 'Oxford Migthy'. They always like to come out with some 'brilliant ideas' and make it joke of the day. As a Malaysia Citizen, we really don't know whether we should laugh or cry as it sound so stupid and pettatic.

I guess we can only dream that one fine day, a lighting will strike some people's brain so that they can start thinking and analyse before they act.

While Malaysia fiddles, its opportunities are running dry

By Michael Backman
The Age November 15, 2006

MALAYSIA'S been at it again, arguing about what proportion of the economy each of its two main races — the Malays and the Chinese — owns. It's an argument that's been running for 40 years. That wealth and race are not synonymous is important for national cohesion, but really it's time Malaysia grew up.

It's a tough world out there and there can be little sympathy for a country that prefers to argue about how to divide wealth rather than get on with the job of creating it.

The long-held aim is for 30 per cent of corporate equity to be in Malay hands, but the figure that the Government uses to justify handing over huge swathes of public companies to Malays but not to other races is absurd. It bases its figure on equity valued, not at market value, but at par value.

Many shares have a par value of say $1 but a market value of $12. And so the Government figure (18.9 per cent is the most recent figure) is a gross underestimate. Last month a paper by a researcher at a local think-tank came up with a figure of 45 per cent based on actual stock prices. All hell broke loose. The paper was withdrawn and the researcher resigned in protest. Part of the problem is that he is Chinese.

"Malaysia boleh!" is Malaysia's national catch cry. It translates to "Malaysia can!" and Malaysia certainly can. Few countries are as good at wasting money. It is richly endowed with natural resources and the national obsession seems to be to extract these, sell them off and then collectively spray the proceeds up against the wall.

This all happens in the context of Malaysia's grossly inflated sense of its place in the world.

Most Malaysians are convinced that the eyes of the world are on their country and that their leaders are world figures. This is thanks to Malaysia's tame media and the bravado of former prime minister Mahathir Mohamad. The truth is, few people on the streets of London or New York could point to Malaysia on a map much less name its prime minister or capital city.

As if to make this point, a recent episode of The Simpsons features a newsreader trying to announce that a tidal wave had hit some place called Kuala Lumpur. He couldn't pronounce the city's name and so made up one, as if no-one cared anyway. But the joke was on the script writers — Kuala Lumpur is inland.

Petronas, the national oil company is well run, particularly when compared to the disaster that passes for a national oil company in neighbouring Indonesia. But in some respects, this is Malaysia's problem. The very success of Petronas means that it is used to underwrite all manner of excess.

The KLCC development in central Kuala Lumpur is an example. It includes the Twin Towers, the tallest buildings in the world when they were built, which was their point. It certainly wasn't that there was an office shortage in Kuala Lumpur — there wasn't. Malaysians are very proud of these towers. Goodness knows why. They had little to do with them. The money for them came out of the ground and the engineering was contracted out to South Korean companies. They don't even run the shopping centre that's beneath them. That's handled by Australia's Westfield.

Next year, a Malaysian astronaut will go into space aboard a Russian rocket — the first Malay in space. And the cost? $RM95 million ($A34.3 million), to be footed by Malaysian taxpayers. The Science and Technology Minister has said that a moon landing in 2020 is the next target, aboard a US flight. There's no indication of what the Americans will charge for this, assuming there's even a chance that they will consider it. But what is Malaysia getting by using the space programs of others as a taxi service?

There are no obvious technical benefits, but no doubt Malaysians will be told once again, that they are "boleh". The trouble is, they're not. It's not their space program. Back in July, the Government announced that it would spend $RM490 million on a sports complex near the London Olympics site so that Malaysian athletes can train there and "get used to cold weather". But the summer Olympics are held in the summer.

So what is the complex's real purpose? The dozens of goodwill missions by ministers and bureaucrats to London to check on the centre's construction and then on the athletes while they train might provide a clue.

Bank bale outs, a formula one racing track, an entire new capital city — Petronas has paid for them all. It's been an orgy of nonsense that Malaysia can ill afford. Why? Because Malaysia's oil will run out in about 19 years. As it is, Malaysia will become a net oil importer in 2011 — that's just five years away.

So it's in this context that the latest debate about race and wealth is so sad.

It is time to move on, time to prepare the economy for life after oil. But, like Nero fiddling while Rome burned, the Malaysian Government is more interested in stunts like sending a Malaysian into space when Malaysia's inadequate schools could have done with the cash, and arguing about wealth distribution using transparently ridiculous statistics.

That's not Malaysia "boleh", that's Malaysia "bodoh" (stupid).

Monday, November 13, 2006

4th wedding anniversary

Time flies. I just noticed that I have been married for 4 years.

In my life, there are 3 women that make me cried. My mum, grandmum and my ex-gf. But it is my wife, who make me smile and bring me happiness. I am so lucky that it did not take me long to find her. Although I do not have thousand words to wrtie about our 4 years marriage, there is always 3 words in my heart that is 'I love you'

Here is the song that I would like to dedicate to my lovely wife - Bee.



Thursday, November 09, 2006

Either I am crazy or the god must be crazy

Lately I feel so confused. What have been tough to me for the past 30 yrs, seems like all wrong.

i. I have been calling myself a Malaysian proudly for the past 30 years but now there are some jokers starting to question my nationality. They called Malaysian aka rojak.

ii. All these while I am following the rules and regulation. but until recently then I realised that rules and regulation are meant to break. The following is the converstaion a reporter (R) and my mentor - Mr Z the law terminator (Z) -

R : Sir, is it wrong to build a house without getting approval?
Z : Yes and No. It is wrong and illegal to build a SMALL house without
getting legal approval. But it is alright to a BIG house (4 storey
and above) as big as a istana (palace) without any approval.
Rich people is always right, poor people is always wrong.

R : How about satey store, sir?
Z : Not any satey store can get approval. It must be the Zzz Satey
Store. Hey...... you no study is it? your teacher never told you
Z
is stand for LAW??

R : Sir, you are the role model for many youngster out there. would
you like to share with us your secret to success?
Z : Study is a waste of time. doing business is too risky. become a
professional is too troublesome. lampburger? maybe but no guareenty.
If you really really want to success, to get rich fast, you must
become a municiple like me. especially from klang. See little boy...
I was declare bankruptcy before and I managed to get rid of bankruptcy
within 2 years only. And now I have built my satey empire, a palace
and I am even in the parliment.

R : Sir, Whats your opinion about Mr Soul |Tan's Statement?
Z : Ohh... that Ah Tan ah? no worry.
I am the LAW and
I am the ZzzzzzzzManNNNN!!!


R : Sir, so....
Z : Boy.. enough for today's interview. while talking to you, I have lost
3 satey stores and 2 istana already. so enough is enough. Go
play with your toys now. If not i will send someone to demolised your house

So the reporter change his target to Mr Toyota.

R : Sir, What's your opinion about the Z success story?
T : Excellent !! Mr Z really show the true Malaysia spirit. Hip!! Hip!!
Malaysia Boleh !! any how also Boleh!! I am very proud of him

R : Any last word to Mr Z??
T : Keep up the good work. Mr Z Boleh !! Rich man Boleh !!