Thursday, July 23, 2009
Tuesday, June 30, 2009
Wednesday, June 10, 2009
Wednesday, June 3, 2009
During pre-Pak Lah times, Maybank was known as an "institutionalised" bank. Decisions were not too speedy but usually well thought off. There were exceptions to the norm but these cases were small and few in numbers.
This is one bank that was known to be "difficult" when it comes to debt restructuring because the interests of its stakeholders were held high.
This stance appear to have changed when Pak Lah became the PM, especially so towards the end of his premiership. I wonder why?
I am not defending Amirsham but I seriously think there were external interference in their investment decisions culminating to "overpriced" venture into Indonesia and few other countries.
During the times of Dr. M, I don't think the interferences were as great compared to Pak Lah's time.
I could be totally wrong but I have a weird feeling that Amirsham was arm-twisted to pushing through those overpriced investments.
To "silence" him, he was appointed as Minister and to make sure those investments went through as planned, Wahid was made CEO of Maybank. [Despite such accolades heaped towards Wahid, I seriously don't think he did such a great job in UEM or Telekom.]
This practice of "wracking" a fully functional and profitable organisation is not confined to just Maybank. Look at FELDA and now, Petronas (as mentioned in your previous write-up)!
We have institutions that have served a large number of people being wracked for the benefit of a few...!!! This practice should be stopped!
Back to Najib's NEC.
I concur with you that Najib appears to suffer from "hangat-hangat tahi ayam" in his actions. A series of high profile walkabouts were published and then “silence is golden”. Does it mean that now the press are “not allowed” to cover those walkabouts?
Najib’s KPI does not look good at this point in time. More and more of his decisions are being questioned. Emphasis and focus are not on the economy or the global crisis. I am not too sure what the focus is on right now! Maybe milking whatever is left... ???
In June/July 2008, I commented that Malaysia’s economic outlook appears bleak at best. Back then export orders were being slashed by as much as 80%. Yet Nor Mohamed Yakcop, the then FM2 and Najib, as FM1, were adamant that Malaysia would not be affected by the global crisis.
There is nothing wrong in admitting the “difficult”business environment arising from the crisis in the US, Europe and Japan. Yes our export to the US is lesser now compared to 1 to 2 decades ago. But if our other export markets are also affected by US crisis, how could we escape!
Now Najib admits that the scenario is far worse that anticipated. Admitting alone would not solve the problem.
Speedy actions must follow.
Coordinated efforts must be enforced throughout the whole government machinery. Sense of urgency must be instilled throughout the whole set up.
I agree with Pak Belalang, the rumblings about “buying of new fighter jets” and training of volunteers in mosques are distressing. Why are we focusing “helping” out other nations’ industries/companies?
Without external interferences, Amirsham did reasonably well as a CEO/President of a bank. But that does not mean he would be a good Chief for NEC. NEC needs someone with far greater foresight, far greater resolve to move plans into actions. One who knows when to speak, when to be silent. One that understands how the whole government machinery works and how to make them tick! The person need not be an economics major or graduate but one who thinks on his/her feet... And this person need not be a graduate from Oxbridge or some fancy Ivy League!
Do we have such a person? I think we do. Najib must decide without fear or favour and must thoroughly think before deciding.
Najib must focus on the economy and Rosmah should refrain from being too visible, forceful and domineering. If Najib is not able to focus on the economy then his days as a PM would not be long. Instead he would go down into annals of Malaysia as the first UMNO President that became the Head of Opposition in Parliament...
First step, appoint a credible Head of NEC.
Second, stop messing with FELDA!
Third, refrain from messing with Petronas.
Forth, remove deadwoods from the government machinery.
While doing all these steps, FOCUS ON THE ECONOMY... !!! Speedy decisions are required...!!! Satisfying UMNO warlords would not ensure Najib's survival beyond the next GE!
Monday, June 1, 2009
THE MALAYSIAN INSIDER - Article by Leslie Lau
MAY 31 – Is the current government worse than the Tun Dr Mahathir Mohamad administration in its response to dissent?
Consider the use, or rather abuse, of the police force to serve and protect the reputation of Prime Minister Datuk Seri Najib Razak.
Take into account how the police have used vague and controversial laws like sedition to arrest and charge nearly anyone who is unhappy, dissatisfied or critical of Najib.
Bear in mind the DAP’s Lim Kit Siang was questioned by police yesterday for criminal defamation and sedition. And what did he say in his alleged crime which warrants an investigation? Well, he blamed Najib for the constitutional crisis in Perak.
Hark back, too, on the recent by-election campaign in Bukit Gantang, which straddled the period in which power was transferred over officially by Tun Abdullah Badawi.
Remember how it was decreed then by the authorities that the name of Altantuya Shaariibuu should not be mentioned by politicians while on the stump.
Step back and one could only come to one conclusion – that decision was to stop the further sullying of Najib’s reputation.
Be aware also of how the police came down hard on a campaign to mock Najib’s 1Malaysia slogan by having the Inspector-General of Police Tan Sri Musa Hassan literally declare black t-shirts illegal.
Contemplate too how Najib has played out the Perak crisis. While it started in February before he took over as PM, many Malaysians will remember how the three Pakatan Rakyat (PR) defectors were taken to Putrajaya to meet Najib, not Abdullah.
Considering that, it would not be completely unfair to blame him, among others, for the constitutional crisis that is Perak.
Bear in mind too that today is just Day 59 of the Najib era.
Consider then, that Dr Mahathir never ever presided over controversial and alleged disregard for the constitution by the judiciary until his seventh year in office after winning two general elections by crushing majorities.
Take into account, also, the fact that Dr Mahathir had also presided over mass arrests through the use of the Internal Security Act (ISA), but the fact remains that even then it could have been reasonably argued that there were serious racial and political tensions which merited the use of draconian preventive detention.
Be aware, too, of how Dr Mahathir was a man known for common sense who never went as far as to ban black t-shirts or prohibit the mention of certain names, which he would certainly have considered unnecessary.
Take heed of the fact that Dr Mahathir was always a fighter, that he would often take on critics head-on and argue his way to win the votes. It was not always about how he crushed dissent because Dr Mahathir recognised the importance of also winning the hearts and minds of voters.
Be mindful that Dr Mahathir, while loathe by many is probably equally loved by many too, just as he is respected and feared.
And he did not achieve all of that by having a police force that banned t-shirts of an unfavourable colour and prohibited names from being mentioned.
Consider too that Dr Mahathir was in power for 22 years.
It may be unfair to compare a man who has been in power for 22 years against one who has only been at the reins for 59 days.
But, so far, it is clear that Najib’s administration has not heralded the return of Mahathirism. So far, it is worse.
Despite not agreeing to some of the mega-projects introduced by Dr. M, I have to admit that I admire him. Admire him for his thoughts, logic, hard working ethics etc. but not for the excessiveness.
In fact, I would have agreed to his ALL mega-projects if they were NOT over-priced!
Regardless of what Anwar Ibrahim or others say of Dr. M, this man can think. Whether we agree to his methods is a different issue altogether.
If the people care to think of Wawasan 2020 carefully, the "racial" issues being faced now would not have any merit for mention in both main stream media as well as alternatives!
It is unfortunate that Najib is saddled with huge amount of baggage. The closest, have been said, is his other significant half.
When Pak Lah was sworn in as PM, some people were quoted as saying "KJ would be the main cause of Pak Lah's downfall...". Reflecting on these words made one wonder "Would Rosmah would be main cause of Najib's downfall?".
I don't know but it would be HIGHLY ADVISABLE for Rosmah to lay low from being reported too much in mainstream medias! Dah meluat tengok...!
If I can feel "meluat", so could others...