Thank You Hassan Marican

Been meaning to write for so long, but I have been stalling. I’ve become the typical bitch who whines about having meaningless life when there’s just so much around me. I’m degrading

Let’s just backtrack on things that bother me the most.

“Rakyat didahulukan, Pencapaian Diutamakan”

How is that even possible when the most outstanding CEO in Malaysia, Tan Sri Hassan was ousted from the position he held best in 15 years to give way to his successor who is just as old? Talk about grooming young potentials when you know the new guy probably will be as good, but not better? Not to discredit him or anything, but MISC was PETRONAS’s. Come on, the only reason why MISC is doing very well is because PETRONAS is pumping money into the company in whatever venture we can think of! It’s subsidiary, MMHE is a given example of how MISC has prospered.

Until now, Najib has not disclosed the widely-publicised KPI, though it was supposed to come out sometime last year. Even the brainy Idris Jala can’t think of a fair KPI which will make the ministers look good on paper, cause honestly, I don’t think they can cope in a KPI-environment. Throw them in a multinational company, and they’ll be like needle in a haystack. Without crony support, they won’t survive! “Datuk siapa..”

I’m just a tee-bit irritated with the fact that my CEO was ousted. I may not like some of the policy he introduced, but he did well at the helm of the national oil company. If an outstanding leader like him can be thrown out as the government pleased just because he didn’t submit to politicians demand (remember the whole fiasco on Omar Ong and alas, the board had to succumb to Najib’s veto decision to put him there), what of me who is just a minor junior Engineer who has yet to make an impact in the company?

When Omar was elected to the board, I only thought of two things:

1. Mr President, now that Omar sits in our board, would this mean that the policy that you’ve uphold for the last 15 years need to be revamped? I mean, PETRONAS’s reputation has already been tarnished by the decision to bring back a default scholar into the company. So would this mean that we will open recruitment to those who have left for better opportunities in the Middle East and now crying back for a return to home country? I mean, we’ve been talking about shortage in quality manpower, and this is a great time to re-look at opportunities and making sure that we will have strong manpower to lead the company when Omar Ong takes over as CEO later.

2. There’s so much instability in the country and I felt the first-hand effect seeing Hassan bid farewell to thousand of staff who awaited him in the lobby of KLCC on the fateful 9 February. No matter what qualm Najib may feel for Hassan, a one week notice is just too demeaning. With Hassan’s extensive network worldwide, he should have been given the opportunity to bid proper farewell to not just his staff in over 30 countries, but also his peers from all over the world. Isn’t there such thing as work handover? (But then again, because the job of a politician is so damn easy, any Dick, Tom & Harry can pick up fresh. Oh well). So do I really want to work in this country or should I think about relocating myself to a more stable country? Or if I really want to work in some junk ‘place’, I should really think about a massive paycheck just to compensate the hardship I have to go through.

Ok so there it is. Venting out my frustration here. Enough said.

Cheers all. Salam 1 Malaysia.

ps: I do welcome the new boss who will be another charismatic leader to PETRONAS. All my support to the company, obviously!

Where is the Future for MCA?

Somewhat interesting:

• Four central committee members appointed by Datuk Seri Ong Tee Keat but aligned to Liow were sacked this morning
• The central committee also voted to reinstate Datuk Seri Dr Chua Soi Lek as deputy president
• NOW -> Newly demoted former MCA deputy president Datuk Seri Liow Tiong Lai is now pressing ahead for fresh party polls

So, where is the future?

Malaysia Budget 2010

I just got back from another big Toastmaster event - District 51 Semi Annual Convention in Genting. Should have taken Monday off, but my leave was cancelled due to some 'urgent' work i need to attend to. So yeah, there goes the well deserving break and a week of flu and bad cough all week long.

One of the exciting thing that happen over the weekend was the 2010 Budget and so that i don't forget, this is a recap (taken off Zana from a website she browsed through - i think it was Bernama/Reuters). Enjoy:

2010 BUDGET BUSINESS HIGHLIGHTS

2010 BUDGET BUSINESS HIGHLIGHTS

* Malaysia economy to grow 2-3 per cent in 2010

* Mining to grow 1.1 per cent, manufacturing sector 1.7 per cent, agriculture 2.5 per cent, construction 3.2 per cent and service 3.6 per cent.

* Private consumption expand 2.9 per cent while private investment 3.4 per cent

* Per capita income to increase by 2.5 per cent to RM24,661

* TNB to spend RM5 billion to implement electricity generation, transmission and distribution projects in 2010.

* Individual tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012.

* Public-private collaborations to include an integrated immigration, customs and quarantine complex in Bukit Kayu Hitam, construction of six UiTM campuses and the development of MATRADE centre

* 1Malaysia Development Bhd (1MDB) will establish a corporate social responsibility fund totalling RM100 million as a start to finance community activities

* Government to allocate RM899 million to intensify tourism industry.

* Government to enhance tax incentives for healthcare service providers who offer services to foreign health tourists with income tax exemptions of 100 per cent on the value of increased exports from 50 per cent previously.

* Individual taxpayers to be given tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012

* Civil servants are eligible to apply for computer loans once in every three years and up to a maximum of RM5,000 from the government once in every five years

* Formulate Halal Act in collaboration with State Islamic Religious Councils.

* To corporatise the Halal Industry Development Corporation as an agency under MITI

* Intensify Halal Certification by the Islamic Development Department of Malaysia (JAKIM) by collaborating with international institutions to obtain standards certification such as HACCP ad GMP.

* To provide RM24 million to develop halal products anti-smuggling system at three entry points and three main ports.

* Allocate RM137 million to upgrade and improve drainage and irrigation infrastructures in paddy fields involving 180,000 farmers.

* To provide RM70 million to build the Paya Peda Dam Project in Terengganu to increase water supply capacity to paddy irrigation scheme in Besut.

* Allocate RM82 million to modernise aquaculture industry and conduct entrepreneurship training scheme for aquaculture breeders with focus on production of fish fry and ornamental fish.

* “The stock market will be further liberalised to enhance its efficiency as well as attract domestic and foreign investment. For this purpose, the government will undertake the following measures: First, liberalise the commission sharing arrangements between stockbrokers and remisiers in 2 stages to encrouage retail participation in the stock market. The first stage, which takes effect immediately, allows flexible brokerage sharing at a minimum rate of 40 percent for remisiers. The commission sharing will be fully liberalised in the second stage, effective 1 January 2011.

* “Allow 100 per cent foreign equity participation in corporate finance and financial planning companies compared with the present requirement of at least 30 per cent local shareholding.

* “Islamic banking assets account for 18.8 per cent of Malaysia’s total banking assets while takaful industry assets contribute 7.7 per cent of total insurance and takaful industry assets. To ensure rapid development of financial services, particulalrly in Islmaic finance, the government proposes that the existing tax incentives be extended to 2015.

* “The government is currently at the final stage of completing the study on the implementation of goods and services tax (GST), particularly to identify the social impact of GST on the people. The purpose of this study is to ensure that if GST needs to be implemented to stabilised Government finance, it will not burden the population. “If the government implements GST, it will replace the current sales tax and service tax as well as exemption will be granted to the low income group. The GST rate to be imposed will be lower than the current sales tax and service tax rates.

* “The government needs to ensure that the Malaysian tax system is equitable and able to generate revenue for development purposes. In line with this, the government proposes that a tax of five per cent be imposed on gains from the disposal of real property from 1 January 2010.

* Effective Jan 1 2010, government agrees to allow agencies to retain 50 per cent of rentals received while the remaining 50 per cent will be remitted to the government as revenue.

* The Government will implement fuel subsidy management system in early 2010.

* The Government proposes the maximum income tax rate to be further reduced to 26 per cent from 27 per cent effective from the 2010 year of assessment.

* Maximum tax rate for cooperatives will be reduced to 26 per cent while the fixed tax rate for non-resident individuals will be cut to 26 per cent.

* Personal tax relief will be increased to RM9,000 from RM8,000 effective from the 2010 year of assessment.

* The Government also proposes income tax on employment income of Malaysians and foreign knowledge workers residing and working in Iskandar Malaysia be imposed at 15 per cent compared with the maximum 26 per cent for the rest of the country.

* Government to launch a scheme in January 2010 that enables EPF contributors to utilise current and future savings in Account 2 to promote house ownership.

* RM14.8 billion is allocated to manage, build and upgrade hospitals and clinics.

* The Government will issue 1Malaysia Sukuk totalling RM3 billion.

* The Government will establish the 1Malaysia Retirement Scheme to be administrated by EPF.

* Employees EPF contributions will be raised again to 11 per cent on a voluntary basis with immediate effect. However, from Jan 1, 2011 employees' EPF contribution will revert to 11 per cent.

* The Government proposes existing personal tax relief of RM6,000 for EPF contributions and life insurance premiums be raised to RM7,000.

* Government allocates RM2.3 billion to build and upgrade infrastructures in rural areas.

* Government provides RM41 million to improve income and quality of life of the Orang Asli Community by implementing various projects.

* Budget 2010 allocations totalled RM191.5 billion, of which RM138.3 billion is for operating expenditure and RM53.2 billion for development expenditure.

* Federal Government revenue in 2010 to decline by 8.4 per cent to RM148.8 billion.

* Budget deficit at 5.6 per cent of GDP compared with 7.4 per cent in 2009.

Forgot to mention about the RM50 charges on credit card users - what a load of bull.

Earth Hour = Media Hour?

I was impressed by the level of enthusiasm displayed by families, friends or even strangers in their cause to support the ‘Earth Hour’. Who could dispute the fact that 1 hour of energy saving would be of benefit to the environment, but what is it really about?

By Definition:
Earth Hour is an annual international event created by the WWF (World Wide Fund for Nature/World Wildlife Fund), held on the last Saturday of March, that asks households and businesses to turn off their non-essential lights and electrical appliances for one hour to raise awareness towards the need to take action on climate change. It was pioneered by WWF Australia and the Sydney Morning Herald in 2007, and achieved worldwide participation in 2008.

Simply translating that into:
Another commercial frenzy for the giant companies to show their support towards another humanity cause, to gain the media advantage and public recognition.

I don’t believe in the initiative, because for me, individuals need to do more than just switch off their light for an hour. I mean, you have 24 hours/day, 7 days a week, 4 weeks a month, 12 months a year. Surely, there’s more than 1 hour in a year for us to conserve the environment.

But these giant companies are another case altogether. I mean, how else would they actually do some good to the humanity, if not for another media advantage? Malaysian TV are broadcasting their effort, the paper are writing about it, and people aka the most gained publicity are talking about it. So, why not?

Let’s just reap the advantage of this free promo. Let’s pretend as if we care!

If that’s the only way to gain participation for big companies so that they would actually support the cause, why not? Don’t we all use each other at some point in time?

Make sense?

Bukit Antarabangsa - Tragedi Bulan December

Who would have thought that 15 years after the Highland Tower tragedy, similar disaster is affecting houses located approximately 1.5 km from the area. 14 bungalows were completely destroyed, killing 4 at the time of this write up.

Who was to be blamed?

You know how Malaysia isn’t that big (with population of about 20 Million thus far) and how everyone is connected to everyone in some way or another. And plus the fact that I have a very big family, so when Bukit Antarabangsa was struck with the landslide, you will find me going all frantic about saving someone who has been forgotten by the rest of the world (well, that was just me being all havoc and stuff).

So my sister’s family got cut off from civilization – no electricity, water or any manmade technological discovery you can never imagine having to live with. And the rest of the world forgot about those in Bukit Utama who was stuck at the top of the hill, as the only entrance out was inaccessible.

My brother, Maie who is staying with them was coming home at about 4 am that day. So when some makcik right by the street franticly tried waving him to stop, he chose to ignore fearing two reasons,
1. The Makcik was trying to get seringgit from him
2. The Makcik hitching a ride to some quiet area, which will later turn out to be a grave and the makcik is actually another creature of the earth. Err spooky.

The whole area was pitch black, and he couldn’t see what the fuss is all about when there were glimpse of ambulance and police car on the street. He stopped, got out of the car and then he saw a family running out of a house and the landslide occurring right in front of his eyes. If he were to be going home a bit earlier and not waste his precious time talking his friends at the mamak, he might even be under those piles of soil and rocks by now. Thank Goodness for that.

I only got to know when Ahmad called me at 730 that morning, so I rushed downstairs and frankly, quite shocked to see Maie enjoying his breakfast with ma and abah. So, it’s old news, and again, I am among the last to know (can even hear Huda and Fiza singing to this tune, flashback… during the time when I was actually the last in our circle to know that Huda is getting married!). And of course, I continued my sleep after.

Woke up at 10 am, and the rest of the day was spent on communicating with Colin and Maie (as the middle person) on the rescue plan. After various engagements with the authority and the neighbors, they boldly decided to GET OUT!

The best thing was, when PM announced that he is coming to the site, everyone stopped the SAR (Search and Rescue) work as they felt obliged to prepare for the arrival of the Yang Berhormat. But the Sultan of Selangor, as always, showed true leadership character. He came unannounced; hence, these people didn’t really have time to prepare the red carpet and the nuisance of making all the necessary ‘preparation’ work. But yeah, different people has different way of showing how mucyh they care la kan.

But anyway, coming back to the Evacuation Plan…
Msis couldn’t really walk with the bad ankle that she has, but she decided to brave the pain and the trail up ahead. I wish she would have just taken the heli, but there were an apparent lack of communication between the authority and the rest of those staying up there, so she decided to go through anyway. I waited for about 1.5 hours, before seeing the family. Gosh, what a relief it is that they are safe. Even Sarah (my two year old nephew) did not seem traumatized by the whole ordeal.

So here we are now after 2 long days, recapping the whole episode and how we wish things like this has not happen. An old Chinese man who were forced to evacuate, mumbled about how they have invested so much into the place, and how things such as this should not have happen. And yes, things like this should not have happen.

Today, there is still SAR continues for one last survivor, a Sri Lankan whom they fear may still remained trapped.

And yes, they have identify a probably cause. An expert even mentioned that this landslide is apparently man-made, as the area has the same geological factors as other parts of Kuala Lumpur, ie soil, rock and there is underground water everywhere. They say that the abandoned project may have been the cause of the landslide, as the site is not completed and there is no maintenance of the site.

Whatever it is, they need to punish the ones whom have caused this mayhem. And the kind of punishment needs to serve as a lesson to all.

Jawatan Ketua Wanita.. Sila Pilih Untuk Masa Depan Anda Yang Lebih Cerah Dari Mentol Restoran di Taman Melati Ini

So, in the case of Rafidah vs Shahrizat, given the opportunity to vote and determine the future of Wanita, who would you choose?

You have the veteran contender who has served ages in the organisation, losing only once in the Ketua Election only to come back to proclaim what is rightfully hers with Shahrizat on her winning side. Then on the other side of the court you have the cunning lawyer who once said, 'My words is my honour' and all hell break loose when she defy the earlier decision by the Exco and decided to go against the the No 1.

What is wrong waiting another 3 months before being officially declared as Ketua. Some say that its because, no one would have liked the idea of being position as the Acting Head, when you know for a certain that you could have been Head all along. Why wait 3 months before you get the position, when you can do it much earlier. Why the delay? Perhaps she should have think of that before agreeing in the Aug 4 meeting with all the Exco.

That's why Planning is important! (ehem ehem.. Planning Engineer talking. Give way).

When PM made a statement that he will sort things out once he's back from his Uzbek-Turkmen trip, and that the position should not be contested, Shahrizat came out and say, 'Yes, i will contest" a day after. Hmm...

I don't know whether it will be a healthy competition, now that the voters will be split, and if Rafidah wins, she will never give away the position to Shahrizat in June, or any other month! So, she'll train some new more candidates who can take up Shahrizat anytime. In the end, what will happen to Wanita section?

I leave it up to you. Do you think the position should have been contested?

THE FINANCIAL CRISIS OF 1997 - 1998

THE FINANCIAL CRISIS OF 1997 - 1998

By Nor Mohamed Yakcop

A moment comes, which rarely comes in a lifetime, when a particular event redefines a person's life and changes the course permanently. For me, the meeting with Dr. Mahathir Mohamad in Buenos Aires (Argentina) on the evening of October 3, 1997 was such an event. It enabled me to devote the next 6 years of my life working for Dr. Mahathir Mohamad, meeting him almost daily. In the process, it enabled me to see, at very close range, the abilities of this great man http://www.chedet.com/2008/06/oil-price.html> . The combination of many noble qualities in one person is rare, and it is this unique combination that has enabled Dr. Mahathir Mohamad to transform Malaysia from an otherwise typical third world country into a thriving and vibrant nation, well on the way to become a developed nation. It is also this combination of qualities that enabled Dr. Mahathir Mohamad to save Malaysia from becoming another IMF nation during the financial crisis of 1997 - 1998. I am often asked about my involvement in the recovery plan implemented on September 1, 1998.

It began on September 29, 1997, when I received a telephone call from the office of Dr Mahathir Mohamad informing me that the Prime Minister wanted to see me. The PM was in Cuba at that time, and I asked (in jest) if I was to meet the Prime Minister in Cuba ! I was told (not in jest) that he will be arriving in Buenos Aires on October 3, 1997 and I was to make sure I was in Buenos Aires at least a day before he arrived. I packed my bags and left for Buenos Aires, and arrived in Buenos Aires on October 2. The PM arrived the following day at 5 pm and we met immediately at his suite. He informed me that he had asked many people to explain to him what was causing the financial crisis but no one was able to give him a satisfactory reply. He asked me whether I could explain to him what exactly was happening. I asked him how much time he had, and he said two hours.

I explained to him how the forex market works, about short positions and long positions, about hedging and how currencies are borrowed and sold, the difference between "bid" and "offer" and how funds can be transferred from one country to another at the click of a button. I also explained how the equity market works and the relationship between the forex market and the equity market. Dr. Mahathir hardly said anything, asked one or two questions, and listened intently. After two hours, he had to end the meeting to get ready to go for an official dinner. He asked me about my plans for the night and I said I had been invited for the same dinner. Dr. Mahathir said to me: You go back to your room and write down all that you have been telling me for the last two hours, and see me at 7 am tomorrow. I went back to my room, skipped dinner, and wrote it all down, finishing at about 6 am. I saw him the next morning at 7 am and gave him the report.

He asked me to take a rest and come back again at 2 pm.. When I returned, he told me that he had read the report and that he now understands what was happening in the financial markets. We started discussing various methods of overcoming the crisis, and our discussions continued when we returned to Malaysia. I met him almost daily for discussion, sometimes at his house and sometimes at his office. We tried a few mechanisms to overcome the crisis, some of which worked initially, but the hedge funds were so strong that it was difficult to proceed successfully with these mechanisms. In early 1998, Dr. Mahathir Mohamad asked me to explore the idea of imposing an exchange control regime to overcome the crisis. I remember preparing voluminous notes on this subject.

Dr. Mahathir went through the notes carefully, and kept asking for more and more details. We went through many rounds of discussion, until he was finally convinced both with the concept as well as the proposed mechanism. The rest, I guess, is history. Dr. Mahathir also asked me to prepare a paper on how to put an end to Malaysian shares traded in CLOB (Central Limit Order Book) in Singapore. Dr. Mahathir was of the view that an important reason for the falling stock market was the short-selling of Malaysian stocks in CLOB. I prepared the report and Dr. Mahathir understood, for the first time, how exactly CLOB operates. The report, which was also implemented on September 1, 1998, put to an end the trading of Malaysian shares in CLOB.

I should add that the exchange control measures were crafted in such a way as to minimize the control aspects and maximize the outcome. The Prime Minister went through the proposed mechanism many times to make sure that the control elements were as few as possible, but adequate enough to ensure a positive outcome. There were no bureaucratic elements in these measures, such as requiring importers to obtain Bank Negara's permission to import. The Ringgit was also pegged at a level where it was not overvalued. In almost every other country, which imposes exchange control measures and pegs its currency, there would, almost by definition, be numerous bureaucratic controls, and the currency would also be pegged at an overvalued rate.

It is often assumed that the system of exchange control (including fixed exchange rate) that we implemented on September 1, 1998 saved the country. The measures of September 1, 1998 were undoubtedly a necessary condition, but it was not a sufficient condition to overcome the crisis. Malaysia was saved, not by exchange control measures per se, but by Dr. Mahathir Mohamad. Let me explain. Any other developing country, facing a similar crisis, if it had introduced the measures that we introduced in September 1998, the measures would probably have failed. The fact that in Malaysia these measures succeeded is due to the ability and character of Dr. Mahathir Mohamad.

The economy and the financial system, under Dr. Mahathir's leadership, was in a very healthy state-healthy enough for the exchange control measures to be implemented without negative consequences. Moreover, the Prime Minister's hands-on management style enabled quick and timely decisions to be made, which was vital under the new exchange control regime. Dr. Mahathir, as Prime Minister, had ensured that the Malaysian economy was fundamentally strong. Ringgit was strong and stable. On the back of the currency stability (at RM2.50 against the US dollar) Malaysia was doing very well. At the end of 1996, real Gross Domestic Product (GDP) grew at almost 8.5 per cent and the growth was expected to continue for many more years.

The government was enjoying a fiscal surplus. The external debt was low, at 40 per cent of the Gross National Product (GNP). The current account of the balance of payments had narrowed from a deficit of 10 per cent to 5 per cent of GNP, and was expected to improve further. Inflation was at its lowest at 2.1 percent. We had steady growth of over 8 per cent for a major part of that period. And this fundamental strength of Malaysia was a critical factor that enabled the exchange control measures to succeed. For a period of more than a year after the measures of September 1, 1998 were implemented, the Prime Minister met with a small group of us everyday - 6 days a week - for at least 2 hours to go through various economic data, including data on loan growth, exports, imports, property overhang etc.

This enabled the Prime Minister to take quick actions, whenever required. I remember one morning when we were going through the property figures, he looked at me and directed that I should organize a property fair to clear the overhang of properties. I did, and property worth more than RM 3 billion was sold. Even after the crisis was over, Dr. Mahathir continued to meet with the group regularly, though no longer on a daily basis. And Dr. Mahathir continued to go through all the economic data with a sharp pencil. No other Prime Minister in the world, either in developed or developing countries, employs such a hands-on approach in managing the economy.

We can see, therefore, that it was not the exchange control measures per se that saved the country but the man - Dr. Mahathir Mohamad - himself. The period 1997 - 1998 was, to paraphrase Charles Dickens, the worst of times, but it was also the best of times. The worst conditions brought out the best in Dr. Mahathir Mohamad. There is a saying that a good leader is like good tea - you only know the true quality when he is in hot water ! Throughout the crisis, the Prime Minister was focussed on resolving the crisis. Day and night, he thought of nothing else but the crisis.

He read all he could on finance; he kept asking me to prepare notes on various technical issues. Sometimes he was sick with bad flu and cough, but he did not take time off to rest. He was convinced that he had to understand the issues before he could work out the solutions. His native intelligence and ability to focus on core issues were there throughout the crisis. He did not show any sign of fear even at the worst of time, only concern at the fast deteriorating state of the economy. He was, at all times, confident that he would prevail in the end. I would like to add two additional points related to the financial crisis. The first is that, in implementing the measures of September 1, 1998, Dr. Mahathir not only saved Malaysia but the neighbouring countries as well.

Let me explain. When Malaysia imposed its exchange control measures on September 1, 1998, the currency speculators realised that the other affected countries (Thailand, Indonesia and South Korea) could also impose similar controls, and they, therefore, stopped their activities in its track. The speculators backed off. They bought back the currencies that they had sold. This is resulted in the regional currencies appreciating. Moreover, the International Monetary Fund (IMF) was not happy with what Malaysia had done, particularly since, after implementing the measures, we did exactly the opposite of what the IMF wanted us to do, i.e. we lowered our interest rates and injected liquidity into the system. The IMF, therefore, started relaxing conditions in other countries and allowed them to lower their interest rates and allowed them to inject liquidity to stimulate their economies so that Malaysia would not outperform the IMF countries.

Therefore, it is no exaggeration to say that Dr. Mahathir Mohamad not only saved Malaysia, but the other affected countries in the region as well - Thailand, Indonesia and South Korea. My second point is regarding what would have happened if the exchange control measures were not implemented. If the measures were not implemented, many of corporations in Malaysia would have gone under, due to the high interest rates http://jebatmustdie.wordpress.com/2008/04/30/theres-something-about-anwar-alright> . When the corporations fall like dominos, banks would have faced severe liquidity and solvency problems due to the ballooning NPLs. The problems of the banks would have resulted in a credit squeeze, which would have led to another round of corporate failures. The Government's revenue would have fallen drastically as fewer firms would be paying corporate taxes, thereby reducing the Government's ability to stimulate the economy through fiscal policy measures. As a result of the problems faced by corporations and banks, unemployment would have increased substantially, leading to a second round of problems.

This is the classic vicious cycle, which could have, in the end, destroyed the social and political stability of the country. This was a scenario that was waiting to happen. It did not happen because of the decisiveness and guts of Dr. Mahathir Mohamad, who decided to take the path less travelled. We owe Dr. Mahathir much gratitude for what he has done for Malaysia over the last 22 years. Solving the financial crisis of 1997 - 1998 was just one, albeit perhaps the most important, of Dr. Mahathir Mohamad's many contributions to the nation. On a personal note, over the last 6 years, I have come to admire this great man for his abilities, his high moral values and, most of all, for his sincerity. Certainly, a man like Dr. Mahathir Mohamad is not born everyday. (23rd. October, 2003)

Bersumpah Atas Nama Tuhan

So, nowadays it has become a trend to swear in the name of the Most Merciful to proclaim you’re innocent. The ‘coffee-boy’ Saiful started the whole fiasco and now, even the top government officials who should have in the right mind, think better, has follow suit.

DPM solemnly swore that he didn’t know Alt Sha, and made his second swear right in a MOSQUE. Surely it catched the attention of the masses, even more amidst the grueling Permatang Pauh by-election.

Then the former Menteri Besar of Perak, Datuk Seri Mohamad Tajol Rosli Ghazali said he would swear before God that he had nothing to do with the arrest of two Exco members and “invites” his successor Nizar to join him.

Looks like it has become a ticket to buy off innocence. Looks like nowadays, the law has meant nothing. Looks like we are nearing the end of the world.

I may not be a religious Muslim, but I believe in karma. I believe in the Almighty, and I dare not challenge God for the most obvious reason. Probably they are innocent (well, you are Innocent until Proven Guilty), but to play around with the Muslim belief is just NOT the right approach to shone your ingenuousness.

All in all, it looks like everything is steering towards making a big success in the PP by-election. The arrest of 2 Perak EXCO members by the Anti-Corruption Agency (ACA) – plus another 3 non-EXCO, and the 15 cent reduction of petrol – coming earlier than the 1st September announcement, .. are among the surprises the government had on their sleeve. Seems like the battle is getting nastier as polls nearer.

I am still undecided. I would probably vote for Anwar, but I fear the changes that he’s going to make if he becomes the PM. I fear for the nation, and the rights of the Bumiputera. But at least, UMNO is now awake.

Let’s just pray for the stability of the country, shall we. Amin….

ps: Check this one out on Youtube: http://www.youtube.com/watch?v=XG9OohT5SAg

Aku DAN Minyak

This is what i talked about during my 3rd Toastmaster Speech in MCOBA building on Tuesday. Something very close to my heart.
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To celebrate our anniversary, I asked my boyfriend to take me out to some place expensive. We drove around, and he made a quick stop in SHELL (mind me) and turn to me and said. “Sayang, this is the most expensive place I know”.
(Bam..) Well, of course he was just kidding around but this onviously is the impact of RM 1.92 vs RM 2.70

Oil price has made a shocking increase from the usual USD 30 to a startling USD 130 within this last 5 years. In it’s heavily consequence of subsidizing the masses, the government made a bold decision last month to increase the petrol from RM 1.92 to RM 2.70. Some says that the reaction by the government shows apathy to the suffering of its people.

Let me try to educate you how the RM 2.70 came about?
Fuel price in Malaysia is controlled by the government using a formula under the automatic pricing mechanism introduced in 1974.
The calculation is made based on the actual cost of petrol or diesel, the operating costs, margin for dealers, margin for retail oil companies and the balancing number of duty or subsidy.

This is how it is calculated:
Product Cost : RM2.7637
Marketing Cost : RM0.0692 (fixed)
Distribution Cost : RM0.0262 (fixed)
Dealers' Commission : RM0.0950 (fixed)
Companies' profit : RM0.05 (fixed)
Duty or subsidy : (RM0.30)
Total Pump Price = RM2.7041

So you see, no retail oil company or dealer makes money from the hike of fuel prices. Oil companies pay for the product at market prices, but have to sell low, so the government reimburses the difference, hence subsidy. So, let me try to spell this out clearly to you, we (PETRONAS) have NOTHING to do with the fuel hike.

In fact, we do not even earn as high in the increasing oil price scenario. Exxon Mobil who preached about being the top of the Big Four Company in world earns USD 40 Bil in 2007, just USD 1 Bil higher than the year before due to the increase in price in producing 1 barrel of oil, as any other Oil & Gas majors in the world including PETRONAS.

Friends, We realize the fact that as PETRONAS was set up in 1974 with the seed capital of RM 10 Million by the government, we are obliged to generate income and value back to its shareholder, which is the government. Hence, after 34 years of hard earned work by the people who are loyal to serving the nation, we can boast on our 2007 Year End Financial Statement of RM 570 Billion in accumulated profit in which last year, we proudly sit on No 121 in terms of revenue of the Fortune 500.

Some critics have the misconception that we had it easy just because we are an Oil & Gas company, but do you know that not all National Oil Company (NOC) stand as tall as us? There come about a perverse fact that PETRONAS Carigali, the arms of the Exploration & Production for PETRONAS is duly given the right to explore and produce the blocks in Malaysia just because we are a linked to a government entity. This statement is very misleading as much as it is not true.

As an operator in this country, PETRONAS Carigali has the same rightful ownership to the entire Oil & Gas field in Malaysia as other operators such as Shell, Newfield or even ConocoPhillips in its quest to bid for the national interest. In fact, most blocks offshore Sabah & Sarawak are operated by the other operators like the famous deepwater Kikeh by Murphy Oil or even the Shell’s MLNG. However, I do have to admit that having an Oil & Gas reserve on our very own backyard does have its perks on gaining the capability advantage.

PETRONAS is perhaps a National Oil Entity, for now. 20 years down the road, it might transform itself into an International Oil Company, where in the depleting Oil & Gas scenario in Malaysia at present, we will see the company aggressively venturing out to the International arena. Then it would be a question of whether the 65% of profit going back to the government is justifiable. It would be the sort of birthright that we dare not question.

I admire my bosses who have spent 20 or even 30 odd years serving the company, and indirectly the nation. These are the loyalist who could have resigned and work elsewhere and easily earning triple or quadruple the salary they are enjoying now.

Statistic which was released sometime in late 2007 made a comparison between the earnings of Oil & Gas technical expertise in different part of the world. No surprise there that the earnings of the locals in Asia Pacific are the lowest, in which the expatriate working here are earning 4 times higher than the same locals who has the same years of experience. You would see this scenario everywhere, regardless of which nationals they are from.

This, ladies and gentleman, is the sole reason why PETRONAS staffs migrate to other companies, especially in Middle East. Two years ago, the whole section of technician in MLNG of about 40 staff resigned and works in Middle East, and a lot of other pursuit by other individual soon followed. A colleague of mine who has worked for 6 years was offered a USD 10K salary plus benefit to migrate and work in the Middle East. At this critical point where there are lack of expert in the Oil & Gas field and the eagerness of other companies racing to offer better compensation, some of my collegue who merely work for 2 years even migrated to other service providers and consultant offices which are offering … a lot more.

Nowadays, the 30 something thousand of PETRONAS staff are mostly juniors. In my division of about 1,200 staff, 50% of them are junior staff with experience of less than 5 years. Can you imagine the struggle that PETRONAS has to accomplish in trying to excite the staff to continue being loyal to the national’s agenda?

So, it is not that PETRONAS boast about being a loyalist by being underpaid and serving the nation undividedly, but we are. Take our bonus away, take our other benefit, scrutinize our every movement and decision, and you take away those loyal ‘government’ servant who wants nothing more than loyally serving the nation.

So please hear us out. If you can’t support us, join us and then you see. Thank you.

Lagi-lagi PETRONAS

This is what happen when politician tries to dictate what PETRONAS do and plan to invest. Obviously their long hours of reading does not include effort to gain Economic background advantage. Whatever la...

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FROM THE STAR:

Petronas's setting up of medical centre based on return of investmentBERNAMA

KUALA LUMPUR, WED:
The involvement of Petroliam Nasional Bhd (Petronas) in the healthcare sector with the setting up of the Price Court Medical Centre (PCMC) is based on the commercial return of investment, Minister in the Prime Minister’s Department Senator Tan Sri Amirsham Abdul Aziz said today.

He said the aim of setting up PCMC was to provide Malaysians with health services of international standard.It was part of the corporate social responsibility initiative by Petronas and in line with its corporate mission to contribute to the well-being of the people and nation, Amirsham said.“The setting up of PCMC also helped to add to the government’s efforts in providing medical services under the health tourism programme,” he said in a question-and-answer session at the Dewan Rakyat.He was replying to a question from Mohamed Azmin Ali (PKR-Gombak) on the costs of building and managing the five-star PCMC owned by Petronas and the rationale for the national oil company’s involvement in the sector.

Amirsham said among the services offered by PCMC were those by specialists in critical areas like cancer, heart and lung, women and children, urology, neprology and men’s health, plastic surgery, cosmotology, dermatology and burns.According to him, PCMC is the only private hospital in Malaysia equipped with the hyperbaric chamber facilities to treat burn victims and expedite their recovery.Asked if Petronas proposed to set up a fund to help poor people in getting treatment at the medical centre, he said there was no such proposal at present but people could still use PCMC for specific treatment.

Apa Hak Mereka?

This is what I read from some random blog:

… Our national wealth must be accounted for in a transparent manner. We need to know how much is earned by Petronas and we know in detail how this acquired wealth is being managed and spent. We need to know how much those in the ranks of hierarchy are being paid and how they are rewarded. What kinds of bonuses do they receive? How much is their gratuity when they retire?

And then Khir Toyo recent comment on his famous blog:
"Janganlah terlalu dipentingkan keuntungan beratus juta syarikat berkaitan kerajaan (Government Link Company - GLC) sehingga rakyat di bawah menderita. Apa penting diumumkan keuntungan besar syarikat ini tetapi rakyat tidak merasai apa-apa?" katanya.
Selain itu Khir juga menyarankan Petronas dan semua GLC negara mengumumkan keuntungan kepada kabinet sebelum kabinet memutuskan jumlah bonus yang perlu di berikan kepada mereka.

In the wake of the RM0.78 petrol increase, everyone now talks about the infamous role that PETRONAS plays in managing the price increase and the effort to solemnly share the burden of the rest of the population. I fret everytime I read a post about PETRONAS. How dare they talk like they own us (or probably the do. Gosh, what a realisation).

Malaysian are very oblivious about the world scenario. They are comparing PETRONAS to other governmental body which does not come close to generating even some minor revenue of the country, and they expect that we (PETRONAS staff hereafter) would want to share our well-deserved hard-earned value of bonus with the rest of the government bodies.

Look at this. It is bad enough that we do not get the market pay that we deserve, now we are being denied our only solace.

They (the community in large hereafter) often talk about globalisation and moving PETRONAS towards Global Championship, but how could we when we are being treated like a second class workers in a first class cash generating world? How do we compete with the likes of Shell, Exxonmobil, Total or even NOCs like Petrobras and CNPC when we are getting ridiculously un-competitive pay and benefit?

I’ve heard talks from unhappy friends who were seriously considering joining their other peers in Middle East, as they were not happy with the recent rumours of a 2-month bonus. (As the writer now listen to background noise of “Oi bersyukurlah”, “Ek ele.. 2 bulan pun nak komplen”, “Macam2 aa orang PETRONAS ni”).

We deserve so much more boys & girls. Please do not compare us conglomerate with your own (unless it is another Oil & Gas company), as we are pretty much aware of our net worth. I am still proud to be serving the nation, but with all this money tension all around, I may just drop my national pride and walk away.

Tahniah ATAU Takziah?

So, what is Mahathir trying to prove?

I am still in shock, and totally devastated to read the news of Che Det’s sudden exit from the United Malays National Organization.

The country is in deep drain. I was made known of his decision from reading the statement in Che Det’s blog and it got me startled. At first, I appraised the brave step he took to correct what went wrong in the party, but after some rationale thought (which came way after I commented on his blog – Tun, I respect whatever decision you have made, and will make in the future. And i always believe that you think things through before making them. Making a different to the world means big sacrifice. Well done!), it got me thinking.

How the outside world is looking at us? Would there be anymore stability when one of the most sought after leader in the country no longer have faith in its organization and decided to leave? Yes, he could condemn, he could right whatever is wrong but to quit from the party … what was he thinking?

I have the utmost respect to the guy, but it bugs me a lot to note that his departure from the party come at the expense of the country. I see that the foreigners are laughing hard at our face, and there goes the national credibility. Your hope of a great 2020 is shattered when you realise that Tun is no longer there to ‘direct’ and necessitate changes to the party. The great man becomes an average man overnight.

Is it the right decision? Will this mean that Anwar’s era would come sooner than what you would have expected?

Don’t get me wrong. I love Anwar. I bought Newsweek (which I don’t normally read) upon knowing that he was on the cover. That was a great reading by the way. And last week or so when he was in the 100 Most Influential Man in Times magazine, I quickly grab a copy before it runs out. Anwar’s story has always been a enjoyable reading.

But Anwar is no Tun. I would have a tough choice deciding the man I would love to administer the country (Anwar vs Mahathir) as each have its own strength and weaknesses, but I think Mahathir AND Anwar combination was the best the country has ever had. If only things were different then.

Anugerah Kebajikan Rakyat

Money matters have become a big issue lately. Certain organization made certain transfer worth Millions RM to certain other organization for fear that the future allocation would not reach its intended recipient. Bull. And now another organization follow suit.

I wonder why people are so upbeat when the $ comes into place. Why aren’t there anymore honesty and trustworthy among us all? Why has the world come to this?

With the new openness policy that the opposition offers, you bet there will be more transparency as to how and where the money would be source into. At least, I know that you know that they know that we are watching.

Then when all are unveiled.. the expensive trip, shopping spree .. you would have think that probably that they have something to hide. Obviously, people with big agenda will do so.

So now, we have other NEW organizations being set up for charitable work (so they say) which may be good in some way. At least these datins are doing some real good work, as now they know they are closely watched (with the kind of publicity they are getting now). At least now we have two organizations competing for the title, ‘Certain Rank Party’s Wife Organisation With the Most Fund Utilised”.

Ah well, such is life.

Bersihkan Halaman Rumah Anda Dahulu...

The coalition party wobbled over the appointment of the new Perak MB, and yesterday, PKR expresses dissatisfaction over the composition of the Perak state exco, wherein 8 seats are given to DAP and another 2 to the other parties.

To whoever it may concern,
Can you come to a consensus and decide in the best interest of the state, instead of your own party? When the Sultan asked for the candidates for the post of Perak MB, the three spokeperson for the party has earlier mention that they will accept the decision of the Sultan on who he deems fit to become the MB. Later, we learn that the top gun in DAP has instructed his committee to boycott the swearing in.

Ok, let’s see the big picture here.

First the Perak Mentri Besar swearing-in is called off. What can you expect next? They’ll boycott whichever meetings being chaired by then-MB?

Get your grip together guys. Whatever bright picture I have painted here at the back of my mind, has suddenly been clouded by this scenario. Shrewd. Geez… Now the Perak-ians will think, “Did I choose the right reformation?”.

Clean up your backyard!

On another note…

Who’s the smart one here? Surely it’s not the BN (although they are now laughing on their sofa eating popcorn while watching the mini-sinetron by the BA)…
It’s definitely my most handsome, intelligent, articulate Sultan Azlan Shah.

He wanted to know how the 3 parties are planning to make this coalition work, and he tested them with his selection of MB from PAS (which gain the lowest state seat of only 6, as opposed to 7 by PKR and 18 seats by DAP). His intuition pays off, and these DAP was not smart enough to read his plan. It’d be interesting to see what the Sultan has in plan next.

Pendapatku Ttg Pilihan Raya

So, the opposition is no longer the opposition, hence opening a new chapter of the country’s democratic excellence.

I won’t summarise much of what you may have heard or read in the tabloid, through various discussions (where you have actively participate or just a mere observer taking notes of other people’s genuine interest to the oh-so-interesting topic), or from the pleasant viewing of the news on the electronic mode. All in all, BN won by simple majority, lost in 5 states (namely Kelantan, Perak, Selangor, Penang and Kedah) and Pak Lah is again the Prime Minister of Malaysia.

I couldn’t exercise my right to vote eventhough I did register during one of those road shows in Suria KLCC (maybe I don’t fit that right profile of a voter) and wasn’t even bothered to seek justice to the inadequacy of the system to recognize me. But soon after, I regretted the fact that I did not.

I seriously thought that this election would be the routine electorate where in the end, BN would yet again prevail as the power of dominance. The result shocked me… but I was glad.

It shows that the people have bravely spoken their mind, and they wanted changes to happen right this instant. Perhaps this would open a great journey for the ramification of the government who is willing to provide more for its people. Perhaps after this, you could envisage the head to head Clinton-Obama debacle showdown happening to our very own BN vs BA leader. Perhaps it is a start to a better Malaysia as the current government sees the need to gain the trust of the people, and their promise to serve as the better ruling party. Lots of perhaps to this great post-election that I can already envision.

It’d be more interesting to see how new laws will get passed the legislature sitting, as there will more constructive feedback from 1/3 of the opposition (and I do hope its constructive instead of reenacting the hopeless effort of a 5-year old trying to piss off their parent) . There will be new initiative, and lesser laws imposed to silently kill the people (like tolls, petrol, etc).

Let’s just wait and see.

Other things on my mind:
1. Hoping that the stock market will show great improvement, after the sudden decline post- result
2. Anwar taking over the Lembah Pantai parliamentary seat
3. BN won 15 seats by slim margin of less than 200 votes. I wonder if those who didn’t manage to exercise their right to vote now feel somber pain
4. Independent who has decided to take sides after their triumphant (1 is joining PKR, and today, Tanah Rata’s Ho might return to MCA)
5. My babe Iddelz who was thinking of setting up her own party in 10 years to come. You go babe.


And on another note:
Clinton as the President? Obama as the Vice President?
Reverse that?
Wouldn’t US be a better country?

Negaraku Tanah Tumpah Darahku

I am not trying to be racist or sound too harsh on the reality of Malaysia today when we have just celebrated our 50th year of independence (whether its Malaya or Malaysia, it still is Independence Day for our nation. Why should it matter?)

Anyway, today is the start of Ramadhan. So, I woke up to the normal sahur at 5 am and watched Majalah 3 on TV3 (da!). The episode today is on the famous Tok Dalang in Kelantan, an art master for the ‘Wayang Kulit’. To date, there are 9 registered ‘Wayang Kulit’ group in Kelantan, and I am pleased to note that there is a non-Malay Tok Dalang in the group who spoke flawless Kelantanese, and look every bit Malaysian. It amazed me that there are other ethnic who appreciates the art and culture that Malaysia has.

And it reminded me to a very good friend of mine, Ey’de Lefty who is also from Kelantan. He also speak flawless Malay, and people seldom mistaken him as a Malay. We call him Aiman sometimes.

Am I being every bit racist here? So, you are Malaysian if you appreciate Malay culture, and speak Malay fluently?

I wouldn’t say that. I embrace other ethnic. I watch Chinese movies and dramas (where I can even understand Cantonese from those hours and hours of watching Chinese soaps), Hindustan 3-long hour movie, and even at one time, tried learning Mandarin. To me, I would like to proudly say that Malaysian is those who embrace other ethnic and culture, and proud to be at the very soil of Malaysia!

Have you wonder how Indonesian can be sooo.. Indonesian? Because they embrace the Indonesian culture! It doesn’t matter what race you are, Indonesian are typical Indonesin in every angle you see it.

Racist.. racist..

NOOO…

I do have this particular friend of mine back during the study days in Melbourne, who couldn’t speak any Malay or know of the Malay culture, but appreciate the little knowledge he knows of Malaysia. Having spent his whole childhood in Hong Kong doesn’t make him any less Malaysian. He could have stayed and work in Melbourne, but he wanted to come home and work in Malaysia, as he believes that there are a lot of things he can do for his proud nation. We were mentor and mentee of each other, both eager to learn about the other culture. He might not able to speak Malay, but he is Malaysian in every way.

When I went to a function in Malacca last month, we were asked to stand and sing the Negaraku. It surprised me when some could not. Maybe the famous u-tube version of Negaraku made more impact to them, as they then fallen to silent retreat.

When the minority outgrows the majority and these minorities does not appreciate Malaysia’a culture & heritage, what will the future hold for the nation?