Face to face with the Media. RTM has invited me for its Bersemuka Dengan Media program this Tuesday, June 3, at 9.30 pm.
This one will feature our Second Finance Minister Nor Mohamed Yakcop, the man who influences the well-being of your pocket and mine, and the state of our economy today.
It's an hour-long program and I will be interviewing Nor Mohd Yakcop together with another journalist, probably from Bernama.
I am sure you have questions you want the Minister to answer. Tell me what they are and I will try and raise them with him during the program. What I can't ask during the hour, I will neatly type them out on paper and ask him to respond later. Once I get his written answers to those questions, I will publish them in another posting in this blog.
I have published several postings on the Tan Sri, including This Cat's Many Lives (24/11/2006).
Friday, May 30, 2008
Blogger and the Finance Minister ll
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Say, can you ask him about the RM 30 -40 billion forex speculation losses he made which Lim Kit Siang has been trying to get the government to give a proper, honest, comprehensive answer?
ReplyDeleteSomebody got to get him to talk about it and it might as well be you. Will you?
Bro Rocky,
ReplyDeleteI sincerely hope U can raise the issue of why the allowances received by the Govt servants are excluded from Income Tax as they are treated as "Dibelanjakan Sepenuhnya". The ruling is made, if I'm not mistaken in 2003. Whilst we in private sectors are subjected to close scrutiny and being squeezed of our hard earned income at every possibility. Thanks!
Thinkpad X300 rules...
Can ask him what exactly happen to Maybank after he ordered the changes to the top management? 3 huge controversies in 3 different countries is a testament of his financial skills working san Malaysia.
ReplyDeleteSalam.
ReplyDeleteI have a question I would like to direct to Nor Mohamed Yakcop which involves the interest of the nation.
The question is as follows:
What was his precise role in the currency speculation scandal in the early 1990s where Bank Negara lost 30 billion ringgit, and has Malaysia in any way managed to recoup any of that colossal loss since?
(www.malaysiakini.com/news/54380)
Thank you.
Some questions for the Finance Minister II:
ReplyDelete- does the govt have a plan to strengthen the ringgit (why should the Singapore dollar be worth about 2.4 ringgit?). A strong ringgit will reduce the burden of imported inflation by making cost of imports (especially food items) cheaper.
- does the govt have a plan to cut corporate and personal tax rates to be on par with Singapore and Hong Kong?
- will the continuance of subsidies at around RM50 billion a year and the corresponding budget deficits adversely affect Malaysia's international credit ratings and the strength of the ringgit?
- will the govt use tax measures to attract foreign talent and wealthy people to live and work in Malaysia (like exempting income earned overseas from Malaysian tax)?
- will Bank Negara be cut loose to become truly independent like the Bank of England, the Federal Reserve or the Reserve Bank of Australia?
Rocky
ReplyDeleteCongratulations you have chance to interview this Minister.
Please ask him when he plans to "recommend Pak Lah to reduce the existing Petrol price to RM1.10 in the the DSAI days?"
Bear in mind that Malaysia is Oil Producer and Not Importer.
Please.
Thank You SIR.
rockybru,
ReplyDeleteplease question him on why petronas revenue and profits, derived from national resources belonging to the rakyat, is not made transparent and accountable to the parliament elected by the rakyat.
please question him on why diesel subsidies to fishing fleets are being continued, despite the fact it has increase without a corresponding increase in fishing tonnages, and why subsidies to rapidkl will be discontinued despite the fact more people benefit from it rather the above mentioned diesel subsidies to fishing fleets; which seem to benefit pepper spraying cronies.
please question him as an oil producing country like uae and saudi arabia, why must petronas has to sell to the rakyat petrol at market prices (after subsidies paid for by taxes of rakyat) as versus uae or oman who sell petrol to their citizens at production costs. if you are not sure on this, ask khalid samad of shah alam. ask yakcop to spell out 'benefits' of this clearly.
Brader rocky,
ReplyDeleteAsk him how come the only 2 UMNO MPs from Penang, and neighbours at that, remain in control of the nations wealth ?
Ask him what actually happen to the RM9 billion he lost to G Soros o/b of M'sia.How actually he felt!!!If he's working for a corporate,he would be fired and charged in court!!!
ReplyDeleteTQ.
WAW
Please ask him why the Ringgit is so weak in comparison with currencies like Sin$ when oil an commodities price are skyrocketing lately. Malaysia are exporting the above. Singapore does not even have any of these.
ReplyDeletehi rocky,
ReplyDeleteplease ask the minister what he thinks about subsidies for rapidkl being withdrawn. (rapidkl is owned by MoF)
http://thestar.com.my/news/story.asp?file=/2008/5/29/nation/21390617&sec=nation
rapidkl was envisioned to be the company that would be able to consolidate all stage bus companies - i.e. so that all other stage bus companies would not be killing each other on the same routes and then using the pajak method to survive because of the over-competition. and then after that because they suffer losses, are not able to repair or maintain their buses.
it now means rapidkl will be back to competing with the rest of the guys on a level playing field and defeating its original purpose. the same pie is being shared by more and more people which cannot be the case when it comes to public transport.
to be fair, if there are to be subsidies, the govt ought to subsidise all bus companies because public transport is a social responsibility and not the place to try and make obscene profits.
anon PT
Ask him about the notorious merger of ECM Libra and Avenue Capital. Why MOF close 1 eye on this though there was insider trading happened and of course, conflict of interest?
ReplyDeleteanon PT here again
ReplyDeletewould appreciate if you could maybe merge this, i forgot to add - how much were the subsidies for rapidkl?
rocky
ReplyDeletesaya ada cadangan, iaitu supaya kerajaan memberikan subsidi tu terus kepada rakyat yang berpendapatan rendah dan tarik balik subsidi minyak dan segala benda yang bersubsidi, dengan ini kerajaan dapat menilai kemampuan sebenar rakyatnya. caranya tubuhkan satu badan untuk menampung kecemasan rakyat bagi seketika, berikan sistem berkupon bagi yang berpendapatan rendah( untuk mengelakkan birokrasi setiap yang berkerja swasta kerajaan akan menyemak dengan kwsp untuk kesahihan gaji dan bagi perkhimatan awam dengan jpa dan bagi yang tidak berkerja dan para peniaga bolehlah mendaftar dengan jabatan kebajikkan masyarakat, dengan ini kerajaan dapat memikirkan perkara yang lebih penting dan tv tak payah sibuk nak menunjukan tentang kenaikan harga barang dan menteri ehwal pengguna tak payah banyak kerja.
Hi Bro....it's been a while eh..how u been
ReplyDeletesome notes for u to ask him
1. How much is Government Guarantee outstanding as a % of GDP? Simple example is the Port Klang case it was not a guarantee per se but when the event triggers.. Govt Budget is impacted. We need to know total outstanding of all the Bonds that have been issued by local corporates. Ask him in the event that all the guarantees are called how much will we have to pay....
2. How much is the actual number of BNM Reserves is it 120Billion USD or More... from my understanding BNM have been actively lending to Local Bank US Dollars which is not classified as Official Reserves , the local banks then swap them to ringgit for domestic funding, this has serious impact to money supply which raises the big question on what is our "real interest rate" and everyone knows that our inflation numbers are way out from official numbers....
Would the questions be filtered prior.....if so dont think both will go thru....
I would like to know the followings:
ReplyDelete1-there are no new investors coming to Malaysia, what's being done to improve this
2-many existing investors are moving to China and Vietnam, what's being done on this
3-the economy is on the decline and there are no signs of improvement, what are the Government's plans
4-many suppliers to the Government are lamenting that there is not much purchasing from the Government, thus effecting the entire buying chain, why has this stopped?
5-will we ever see the light of the PKFZ fiasco, with the billions gone, many universities and hospitals could be built, what is being done on this
6-what are the indications of the current economy in Malaysia, are there any statistics to show and we want to see them
MK
Bro Rocky,
ReplyDeletePlease ask the minister on comment by former Finance Minister Tun Daim Zainuddin in the recent edition of Dewan Budaya that the present ruling goverment failed to made the rakyat understand on the real reason behind the rising price of goods despite repeated explaination by the goverment through goverment-owned media before the general election.
Ask him on how many projects that been planned for implementation under the Ninth Malaysian Plan (9MP) but had been scrapped due to present economic condition
Bob From Kuching
Bob From Kuching
Paying direct tax is straight forward
ReplyDeletePaying "indirect" taxes is pretty awkward
Since it's really like paying additional taxes based on consumption
That will eventually add up to quite a sum in monthly contribution
(C) Samuel Goh Kim Eng - 300508
http://MotivationInMotion.blogspot.com
Fri. 30th May 2008.
Salam brader,
ReplyDelete1. You just tell him 'su-kj' not happy with curent Finance Minister included himself too?
2. Why 'inflation' increase from 2.2% to 2.69%? Refer to latest report from Bank Negara.
3. So no point KDNK for first quater is 7.71%. Should Nor Yaakob and Pak Lah get out from Finance Ministry? If possible tomorrow..tak perlu tunggu lama!
http://sukj.blogspot.com
Brother Rocky ,
ReplyDeleteTolong tanya pasal 'Petronas membiayai orkestra RM 3.5 juta sebulan '.
Yang saya tau pemain muzik terdiri dari orang luar.
I would like you to ask if possible:
ReplyDeleteBanning foreign cars to fuel up at the Malaysian borders. While it could lead to a reduction in subsidy payments by the government, wouldn't it have an impact on the country's FDI? I'm from Kuala Lumpur, but from what I understand from a Johorean friend, the economy in Johor Bahru, to a certain extent, depend on Singapore- they come, they buy stuff, they go back to their island. Has the government weigh out the pros and cons of this action?
Bro Bru,
ReplyDeleteAsk that fella about the commission for the subs and the russian jets. A friend of mine once attended the Chinese air ahow and after a few drinks with the russians, they indeed said commissions were paid to you know who,need you ask?!
Two, tell us he doesn't know anything about the petro ringgit for the state of Terengganu...
Three, ask how much the government has spent on the Pedra Blanca case and what were they spent on. Don't forget to include the expenses for all the ministers ( and families if available) , and their officials.
Thanks Bro Bru.
(TRUBLU JOHORE)
Q1. Does the minister agree that corruption is rampant amongst the PDRM?
ReplyDeleteQ2. Does the minister realize that the amount of bribes paid by the rakyat to PDRM can finance a whole new force which is 'clean and efficient'?
Q3. Will the minister consider revamping the PDRM (together with the Home Ministry) by creating a special pay-scale for them and simultaneously raise the entry level to the PDRM and at the same time weed out those existing personnel who can't be salvaged?
Dear Rocky,
My questions above are based on the belief that not all people who join the PDRM started out being crooks but low salary in relation to the 'risks' to their lives turned them into bad cops.
Speaking for myself, I will not grudge the PDRM for getting a higher pay than other civil servants if they are honest and can keep the law and in turn catch other corrupt people. In fact, I wouldn't mind paying a little more tax to this end for an efficient and honest PDRM.
I believe by paying a little more now will end up saving us a lot more lost through corruption.
Ask him why the government interferes in the running of many businesses whether private or semi-government?
ReplyDeleteUmah
Forexloosecannon Robokop announced just b4 GE08 that per capita income in M'sia grew by 40% between 2004-2007.
ReplyDeleteThis astonishing claim was largely unchallenged by the MSM, and in fact, the whole story very strangely fizzled out a day later. If such a growth had been claimed and proven true,say in USA, Bush would have been crowned Emperor for Life.
The implication of Robokpo's statistics is that M'sia's economy (av. 6%) grew faster than China's
(12%) and India's (9%) over the same period.
Bro Rocky, perhaps you could gently put it to the R2D2DFM how does it compute?
My guess is that inconsistent accounting techniques such as differing exchange rates were applied (deliberately?) wrongly.
We await for an answer from the exalted with bated breath!!
This comment has been removed by the author.
ReplyDelete1. How many contracts and the total value which are still active now are direct awards by the Ministry of Finance without tenders?
ReplyDelete2. What is the percentage of tenders which are Bumiputeras and Non-Bumiputeras?
3. What are the critiraes required for these direct awards?
Bro Rocky, Can you please ask the YB Minister:
ReplyDelete1.What are the measures now being taken by the Government if and when world oil price hits USD200 per barrel.
2.If the Government would reduce subsidies, which sector that he thinks the subsidies should be preserved and why. I think subsidies for health, education, food and transport is important for now as the average monthly income in Malaysia is not big.
3. What is the Minister's view on the NEP, is it a success and how long does he think that the NEP should last in the future. Is it possible that all Malaysians can benefit from the NEP and not just the so called BN elites.
4. What is the rationale behind paying a huge sum of money to the foreign musicians in the Petronas Philarmonic Orchestra which just propogates a western culture for the benefits of very-very few Malaysians. Better to spend the money to propogate Asian/Malaysian Culture Dondang Sayang,Ghazal, Melayu Asli etc.
TQ.
Ask him why the BN government keep on harping on the strength of the economy from time to time while the Malaysian ringgit has been sliding against the singapore dollars, the taiwanese dollar, the hong kong dollars and the remminbi since merdeka. Does he agree that our economy with the vast natural resources has been the most inefficiently run despite having world class facilites. If he denied that ask him to explain why has the ringgit being depreciating then despite the so called strength of our economy. Ask him to admit that in the past 50 years wastage and greed has cause these problems. New era
ReplyDeleteask him that instead of reviving proton, why not sell it off and focus on uplifting the people who dont even freaking get 3 meals a day! how is that.
ReplyDeleteask him since Nijhar has quit MIC, is he thinking of joining MIC perhaps ;)
ReplyDeleteAsk him about his difficult relationship with Tan Sri Zeti Aziz.How can he manage the finance of the country if he cannot see eye to eye with the Central Bank Governor.This is an open secret knowledge and Pak Lah knows about it too.
ReplyDeleteZorro
Please ask this fellow Tan Sri Mohd Nor Yaakob about the Billions Ringgit loss during his Bank Negara days.
ReplyDeleteI think you a lot to ask based on feedbacks received. Pls ask without fear or favor.
ReplyDeleteplease ask those questions without fear or favor.
ReplyDeleteSaudare Brew,
ReplyDelete*The Weeks That Were...*
While you bask with pleasure coming back into the fold... how ones' fate changes...
And on the eve of your Walkin the Talk, one poser which comes to mind was which make up the bigger numbers - trublu journalists, hardnosed reporters or the penpushers (you know the stenographer types)...
# In the week where your Sports Minister is photographed seated dumdfounded besides a Royalty over the multimillon CYC debacle, its amazing how he's got the audacity to not only boycott a sports event but question the SIC leadership. Maybe he picked up a cue from the Royalty in boycotting CYC? Yet nothing comes out in the MSM or any of the "most hit" blogs about the loss of monies over the CYC fiasco or the Ministers role in boycotting events which he has to promote. Or better still how does one develop soccer in the country?So much for a free press/bloggin era?
# In the week where the Cabinet HAD TO decide about the BMC toll saga despite a court order enforced, its amazing how no one has questioned who those thugs were, and what brought about the police being swift in dousing a situation.
On a serious note, who are these 3-Line/3-M boys which the man on the street fears so much. Or are they the 3 Abduls from that famed comedy of errors movie? Maybe the police know something they are NOT telling (they dont tell much do they, especially when it involves those they know)... So much for a free press/bloggin era?
# Since we are on the BMC saga episode, was not a company executive a former police chief whose detention centre saw a Christian gentleman named Benjamin or Benedict (or something like that) being held for having a relationship with a woman of a different ethnicity? And was it true she was related to a senior police officer? So much for a free press/bloggin era?
# In the week where your postings talked about the blogs being engaged, its amazing how one is being drawn to conclude the big picture being played out... "We already have the MSM on a tight leash (you know that sit, roll over, play dead syndrome), now lets move on to the blogs?"
# Was that why a MP lambasted a MSM for highlighting his role in the VVKL scandal, on the presumption that his political party owned the paper?
The chicken or the egg, which came first...
Rather than seek a free media so soon, maybe those who will be Talking after Walking should focus efforts on trying to develop trublu journos...the hardnosed kind who strive for news.
And finally, all these postings about quizes for the Finance bloke, maybe you should have it sent to him prior to the show and lets see whether he wants to answer them... especially about the forex speculation...lest we be deemed being seditious in our posers...SeKadar diPinggiran!!!
PS: Its amazing the info one picks up speaking to hardnosed trublu journos who gather at the NPC.
Salam Bro Rocky,
ReplyDeletePse ask the FM II :-
1. If a foreign company wishes to invest in Iskandar Malaysia who do they meet with and who gives the final green light?
2. Will an extensive background
check be done on these foreign companies and who will be doing the
checking?
3. How many local companies are involved as investors in Iskandar Malaysia?
Thank you.
This is for Tru Blu Johore...
ReplyDeletePlease do a engine search with key words like "tony blair + bae systems + saudi + typhoon..."
Suffice to say, it should enlighten you why commissions (not paid by the Malaysian goverment) will never be discussed in this country.
And since you mentioned fighter jets, are you aware a battle royale is looming amongst some of Malaysias' Tan Sris, Datuks, politicians and others over how much commissions should be shared. Irony is that court documents have gone missing and one of the solicitors have warned the MSM about publishing such material.
Go figure that..."Watergate Behind Closed Doors"
Great Questions Bloggers!
ReplyDeleteI doubt our "tan sri" will deign (or dare?) to answer any of them. If he does, let's just all stand outside and watch the skies for flying pigs (no disrespect to anyone here; including the animals)
Just ask a simple question from a simple Aunty like me
"Exactly HOW much money MUST one lose or be unaccountable for before one is recognised with a TanSri-ship as service to the Nation?"
hmm..mm on the other hand scrap that question. Might be construed again as disrespect to the animals.
I hope you will at least enjoy the kopi - since that may be the only entertaining item at the Press conf!
BRO BRU,
ReplyDeleteHOPE YOU READ THIS, AND POST YOUR VIEWS RE. THE NEWS TODAY PAGE 4, NST. DISGUSTING NEWS RE. THE YOUTH MINISTER SOME ISMAIL FELLA ASKING MOKHZANI TO STEP DOWN AS CHAIRMAN OF SIC. IS HE VOICING DOLLAH'S VIEW OR WAS HE POLISHING THE LATTER'S APPLES?
WHO THE HELL IS THIS GUY ANYWAY? TAKE POLITICS OUT OF SPORTS AND/OR TAKE HIM OUT FOREVER. BRAINLESS MINISTER OF DOLLAH'S CHOICE!
PEMBODEK KELAS BESAR!!!
SIC HAVE BEEN MANAGED SO PROFESSIONALLY LIKE A PRIVATE ENTITY, AND THIS SMARTASS FELLA IS TRYING TO SCORE POINTS. WHO IS HE SUGGESTING TO TAKE OVER? LET ME GUESS...MUST BE KHAIRY JAMALUDDIN LAH. BODOH PUNYA MINISTER!!!
TAKE OVERLAH AND GOOD LUCK,\. SEPANG WILL BE ABANDONED BY THE REST OF THE WORLD. SOON F1 WILL ONLY BE IN SINGAPORE AND JAPAN GT CAN ALSO GO OVER TO SINGAPORE.
MELAYU MELAYU MALAYSIA...BILA NAK PANDAI?
HELL WITH THIS STUPIDOS! IF ANYONE HAS THE SENSE , KICK THIS ISMAIL FELLA OUT PLEASE...
SURUH DIA BALIK KAMPUNG AJA.
TRUBLU JOHORE
THANKS ANONYMOUS FOR YOUR KIND CONTRIBUTION...YUP CAN'T AGREE WITH YOU MORE...
ReplyDeleteIT'S A YOU KNOW I KNOW WORLD LAH!!!
(TRUBLU JOHORE)
Another question for the minister.
ReplyDeleteWill the minister sponsor a bi-partisan bill to reform the income tax system currently in existence? ie. where the taxes the rakyat currently pays are apportioned to federal and state coffers?
Reasoning : Until the states are allowed an independent source of income, they rakyat will always fear 'punishment' to vote in state governments which are not the same as the federal government.
This is an impediment to a true 2-party system.
Of course the mechanics of it has to be worked out without raising the tax burden of the rakyat but I'm of the opinion that now is the best time to try this reform given the fluidity of the moment where both sides do not have a 'sure claim' to the federal government.
A bi-partisan bill like this might just appeal to both sides at this moment in time.
Dear Rocky,
ReplyDeleteIf the YB read your blog, it will be something like an open book examination with prepared answers, no more pop quiz.
I dont know how much time that you have for the interview..There seems to be many people with many questions over here.
Anway to be balanced, I hope that you can can "selit" a few of my questions .. ehhem... First, if you can...please ask the YB about the broader context of economy.
My question :-
Before and after the PRU12, the YB has a few times given statements publshed by local newspaper about the budget deficit and factors of subsidy which will increase the liability of he government.
So, in the interview, I hope that you can ask the YB about his priority in managing the government finance in the context of today's inflation rate and the aftermath of PRU12, that is which issue that he is now concerned most(1) Country budget deficit or (2) Inflation sensitivity to the people.
If his priority is budget deficit, the next question .." In PRU, the government has lost 5 states and one of the reasons is the inflation of petrol and food . Doesnt the government feel obliged to fulfil the needs of the people. (BTW, in Japan , there is no subsidy on petrol and food , but starting salary is approximately RM 6000 (for executive) and the employer pay total transportation cost from home to office, plus electronics product is cheaper than Malaysia).
However, if his answer to my first question is inflation rate, then please ask him, how he want to reduce it effectively in short time period. In addition, how can he try to reduce the inflationary burden to fuel and raw material input companies such as TNB. Next question, if he do all that he proposed to do, ask him what he thinks the effect on budget deficit and how can he minimised the deficit.
I will be in Japan for a period of time. So, I hope that you can record the interview and upload it in youtube with a link at your blog. By that way, I can watch the interview and understand the YB better.
Thanks bro' !
I have some questions which Ihope you can ask him.
ReplyDelete1) Why does he not look Malay, but like my friends from South India?
2) Does the Mof 2, have any legal power, because the said position is not provided for in the constitution. Thus what is the difference between a special advisor to MOF, MOF2 and deputy finance minister.
3) Why has the development in Johor, has gone trough so many changes in name. Its now known as Iskandar Malaysia.
4) We have a minister for EPU. Whats the point, when the PM has stated that the corridor developments, will go through a special task force, to speed things up. Basically EPU wont be the dicision maker.
5)Will the DEB be enforced in Iskandar Makaysia. Does he agree with Musa Hitam s stand that it should be loosendin Johor.
6) Why is it,people like Syed Mokhtar can do well overseas. MMC in Saudi, Algeria.Zelan in Emirates, Indon. But our GLCs cant do the same. Is is because people like Syed hire the best, but GLCs hire based on party lines. You notice the pool so small, that Telekom boss had to be transferred to Maybank.
7) What is the point of hiring Tun Dr Mahatir as advisor for Proton, Petronas, when his views are not sought?
8) Is the Putrajaya monorail being pushed to save Scomi's arse? Since Putrajaya had dugged a lot of underground tunnel, for an underground rail link, whats going to happen now. is it not true ABRAR had proposed a tram system but was rejected because govt did notwant wires sticking everywhere. is govt prepared to review the tram proposal?
my nick is Urgent Money Needed Officially (UmNO)
Hi Rocky
ReplyDeleteI found an article in Google News here:
http://in.reuters.com/article/asiaCompanyAndMarkets/idINKLR16791620080529?pageNumber=1&virtualBrandChannel=0
He has been quoted as saying:
"I am very positive that we can achieve the 5-6 percent growth based on the policies that we have," he told reporters in the Malaysian administrative capital.
"We don't need a special plan because we are not in a period of economic weakness."
Can I ask please ask him on what basis did he get this information formulated and also why is it that Malaysia "isn't in a period of weakness" when the rest of the world are, including US?
Thanks very much
Bro search in my blog. Inside and outside story on ECM Libra Avenue scandal.
ReplyDeleteAll finger points to him, his boss, and son in law.
Please ask him if he acknowledges the Indian blood running in his veins and is he denying his Indian blood just so that he can join UMNO? Ask him if he is aware of what the public thinks of Indian Muslims like him who try to pass themselves off as Malays.
ReplyDeletepls ask him:
ReplyDeleteWhat plans does Malaysia have to sustain its economy after it becomes a net oil importer in years to come?
Thanks
Dear Rocky,
ReplyDeleteDon't ask him nothing.
Enjoy the Kopi Kaw.
Pass him the CD of Dire Straits.
And ask him to sing "Money For Nothing"
BR
RastamanJB
Bro Rocky,
ReplyDeletePlease ask FM II, the needs for him to retain the 5 'penasihat' at MoF currently. What is their role and function? Aren't the gov officer (Plus from BNM, SC etc) competent enuf? or it is just to favour them ?
Their's one penasihat on ICT in MoF. A big waste to the Gov!
- permaisuri
Rocky, kindly ask Noor Mohamad why BNM as become more and more stupid from day to day since Ismail Ali left its sevices. Its stupid actions can be judged from the many fiascos, among which are the following :
ReplyDelete(i) How could BBMB be allowed to become insolvent overnight by BNM, more so after just declaring an audited net profit of more than RM800 million. BNM cannot claim that BBMB had a big portfolio of NPL as adequate Bad Debt provisions had been made for them. For information, the above-said profit had in fact taken into account the necessary bad debt provisions for each individual loan and this was an unavoidable task which came under the direct supervision of the BNM Inspectors.
(ii) After making blunder with withdrawing from circulation the RM 1.00 note and quickly recirculating it again therefter, BNM then stopped the circulation of the RM2.00 notes. Lately, it stopped the circulation of the RM 1.00 coin. Didn't it occur to the BNM officers that those notes and coins are important to us small men ? The RM2.00 notes are important to us as Ang Pows during Hari Raya since to dish out RM1.00 is too small knowing well what RM 1.00 is really worth and dishing out RM5.00 is totally beyond our capacity. As regards the RM1.00 coin, we need it to feed parking meters as we small men still depend on parking lots using such meters to avoid paying higher levies.
(iii) The practice of rounding up bills to the nearest 5 sen is most stupid. BNM is sadly short-sighted. In fact its objectives can still be met even if bills are not rounded up. Consumers would still be happy if they are still required to pay to the nearest hihger 5 sen, but their excess payments of 1 to 4 sen should be given to them as credits in their bills.
(iv) Banks had previously expanded into merchant banking, car and block financings, share brokings, money brokings, insurance whatnots with BNM encouragements. Now the policy seems to be dismantled at the respective banks jeopardy. Why is BNM so fickle minded ? Now, with its intention to do away with small banks, we small men become the victims. Does BNM realise that Maybank charges a minimum of RM10.00 for a bankers cheque when we used to get a bankers cheque for as little as 50 sen. Does it know that we merely get RM 2.29 for a S$ when the same bank quoted its exchange rate at RM2.34 at around the same period ? And, why are we required to pay 50 sen for our 5th withdrawals onwards when the money we withdraw is our own funds and the bank has already charged us an annual fee of RM8.00 for our ATM Card ?
(v) After making billions of profits annually, what about BNM doing some social service ? After all, the sufferings we small men now face appear to be connected to their incompetencies. I believe they are aware that we users of old cars have now not only to pay high loadings for our third party insurance, but also to take up personal accident insurance to renew our policies. This simply cost us up to 200% our normal insurance renewal expenses. Is this fair to us ? We are not the one who caused the Insurance cos to suffer losses. The fact that we kept on insuring the same old cars year after year is adequate proof that we are not the root cause of problem ??? Since their losses are caused by no other then manipulations, and BNM, being the supervisory authority managing them, fails to control the scam, I urge that it takes the responsibility of underwriting the small men's insurance needs !!!
Rocky,
ReplyDeleteWhy does the govt have to get loans from China to build the 2nd penang bridge when it has funded almost RM8 BILLION to prop up Silterra Malaysia Sdn Bhd in Kulim Hi Tech Park since 1997 which has never achieved its targets since inception but continues to suffer huge losses.
Thank you.
Tired citizen
rocky bru,
ReplyDeleteyour sparing partner will be the Great Bro Yong Soo Heong
:-)
-bernama boyz
Salam Rocky ,
ReplyDeleteI watched streaming RTM1. The answer to my previous comment is , as your question to the Tan Sri, reduction of currency exchange rate. Exchange rate currency movement to 2.5 will solve big part of the problems. I have done some calculation on this.
At today's GDP growth of 7.1%, reduction of exchange rate will only moderate the growth. In addition, it allow sectors especially manufacturing to blossom by balancing the agriculture sector. More importantly it reduce budget deficit and inflation rate together simultaneously without any adverse effect on one or the other.
The Tan Sri answered this, by saying - allowing it to move according to the market. But at his point of time , I think doing the right thing is more important than doing things right because , every options are things rightly done.
And the most interesting point in the interviews are a few wawancara with the rakyat and it showed how the rakyat felt about the current inflation situation in Malaysia.
The Tan Sri is an UMNO MP. As a politician, the Tan Sri should understand that , UMNO is strong due to support of the people. Once UMNO has failed to understand the needs and heartbeat of the people, it will undergoes a period of declination. Therefore, it is ideal for UMNO to fight for the interest of the mass. If the government thinks that the economy growth should be high, it has to think how the wealth created by this growth is distributed equally amongst the mass. In other word, economy growth should ensure economic justice. Therefore when mass has spoken as shown in the interviews with rakyat during the last part of the program, the voice within UMNO should be the voice of the rakyat..
Structuring of subsidy berdasarkan kepada keperluan dan bukan keinginan is best done by the employer and not by the government. This is due to the fact that the employer know very well the distance between office and house of it's employee and hence can pay transportation allowance according to the distance. This is what being practiced by most companies in Japan. In addition to that, keperluan setiap individu adalah berbeza antara satu sama lain. Sebahagian individu tinggal berdekatan dengan tempat kerja. Manakala individu yang lain tinggal berjauhan. It is too difficult for government to gauge the actual keperluan of individu. So to pass a law to enforce "transportation allowance" by companies will solve the problem. Restructuring of subsidies ? It was discussed since last year and mooted by KJ. But it took so long to be implemented. Once it is implemented, can it be effective ?
That is all my thought.
Why does the govt have to get loans from China to build the 2nd penang bridge when it has funded.......yeaah WHY!.
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factory worker
senai.