Petrochemicals Industry Good For Sabah? Says Tan Sri Bernard Dompok!

I am very worried about Malaysian government these days. Especially those coming from Sabah. Tan Sri Bernard Dompok has been questioning the logic of building a 502km pipeline all the way from Kimanis in Sabah to Bintulu, Sarawak. His reason, Sabah is deprived of possible development or benefits from the gas. It's hoped that at the very least, Kimanis will be developed into a petroleum city, the likes of Miri and Bintulu and may be Kerteh. He also suggested that a petrochemical complex to be built to help Sabah to reduce unemployment and improve the economy. The level of Tan Sri Bernard's resolve to make this happen really strong to the extent of him threatening to bring his party United Pasok Momogun Kadazan Dusun Murut (UPKO) out of Barisan Nasional. While all these seem wonderful on the surface, Tan Sri Bernard really has to dig deeper. I do respect Tan Sri Bernard for his efforts to solve people issues in Sabah, but the industry that he has been wanting to have in Sabah is definitely not a sustainable one. The prospect of petrochemical products or derivatives look very gloom at least in the next 5-10 years. PETRONAS' facilities in Sabah are struggling to keep their ends meet and Tan Sri Bernard is asking for PETRONAS to build a new one. Who says petrochemical industry is good for Sabah then?

A non-sustainable business is really waste of people's money. The money wasted in building the petrochemical complex which could easily run into billions (a SUNK COST) can easily be invested in something that really makes business commercial sense. So instead of asking PETRONAS to build a wasteful petrochemical complex, Tan Sri Bernard should really focus on high margin, high growth with global appeal industry which is sustainable in the long run. For this, he can get PETRONAS to lead its development and make the initial investments. This will definitely benefit both PETRONAS and Sabah government. It's a win-win situation. Sabah can model after Singapore and Israel. Start a service, high end industry. That will move Sabah faster (double digit growth each year) than a loss-making petrochemical complex.

I really hope Tan Sri Bernard will consider this in earnest.

Albert Buyou of Sabah Oil and Gas contractors Association also mentioned that in NST, dated 12 November 2008, "We have skilled locals who are being driven away to Sabah, Sarawak, Terengganu and Arab states because there is nothing for them to do." May I also mention Albert that even in Kerteh and Sarawak the skilled locals are being driven away to Middle East. So what's stopping the Sabahan to run away when even you have local oil and gas industry there? The key is the monetary compensation. They are being paid more than 7-8 times over in Qatar etc. Who doesn't compelled to leave by the way?

Be sensible Datuk. I know you intention is good but the means is just not justifiable. Think on the solution. There are many ways to reach the solutions.

Malaysia is falling into recession soon?

WHILE the world is reeling from what is possibly the worst global economic crisis since The Great Depression, most Malaysians have been too preoccupied with its own political drama to pay much attention to the financial meltdown. Everyone is busy talking about politics. The opposition taking over, the opposition not taking over; the PM stepping down, the PM not stepping down; who will become the new PM's deputy, who will not; is Anwar guilty of sodomy, is he innocent. Based on the newspaper headlines, many seem to think that it only affects the US, Europe, and other countries in the region. Malaysians tend to think that based on strong commodities and crude oil prices that Petronas is selling, we are somehow insulated from what is happening elsewhere.

Well, if they have been reading reports closely, they would see that palm oil and crude oil prices have plunged also. Local newspapers have not been reporting the meltdown on a big scale. The coverage is still mainly limited to the business or foreign sections, and tend to present the 'official' side of things.

In today's publication of The Star, the biggest English daily, a story on local banks focused on the positives. The lead story of the business section of The Star said that banks were turning cautious but have not put the brakes on lending to businesses.
It also stressed that the country's high savings rate and healthy foreign reserves would enable local banks to weather the global credit squeeze. As a result, perhaps not many Malaysians are even aware of the spreading fear in global markets. This sort of thinking is perhaps further boosted by the country's leaders who kept insisting that Malaysia's economic fundamentals are strong, rather than preparing the ground for what is to come -- slower economic growth, and perhaps job losses.

Second Finance Minister Nor Mohamed Yakcob was quoted in today's papers as saying that Malaysia is unlikely to enter into a recession. He did admit however that "if the crisis creates a recession in the US and Europe, all countries will be affected."
Mass-selling Malay-language Utusan Malaysia played up Nor Mohamed's comments and made it their lead story for the business pages, with the headline saying "Malaysia confident will not fall into recession." Quoting the central bank, the government has said that both direct and indirect exposure of Malaysian financial institutions in terms of holding of securities linked to the US sub-prime mortgages and lending to entities associated with them, accounted for only 0.3 per cent of the banking system's capital base. Further supporting this argument is the fact that the Malaysian bourse also has not plunged to the depths seen by neighbouring Indonesia, which was forced to close for two days this week after huge falls.
But observers cautioned that Malaysians must pay careful attention to events happening elsewhere before they end up being taken by surprise. Some say this time, if the recession lands on Malaysian shores, it might well be worse than the 1997-98 Asian Financial Crisis.
First to go could be Malaysian exports, 20 per cent of which go to the US. A drop in exports could cause major job losses. This would then affect consumer spending and curtail growth.
We are already seeing the prices of commodities fall, particularly fuel and palm oil, two commodities which Malaysia depends on heavily for its earnings. This could result in a vicious bite soon enough unless prices recover. A big chunk of the Malaysian government annual revenue, about 46 per cent, comes from the petroleum funds. So falling oil prices could mean the government might have to crimp on building infrastructure and rural projects, like schools and drainage. Also, many palm oil growers are rural Malays in the government-backed Felda estates. During the Asian financial crisis, the sentiment against the government in the rural areas were negative because many growers found it tough to make ends meet. And job losses jumped as electronics factories closed or pared operations. Already in the papers, some companies have reportedly having difficulty in paying their debts as ringgit is declining while their debt payment is in US dollars. All these means that, like it or not, whether they pay attention to it or not, the global meltdown will soon enough knock on the doors of many Malaysians. (Hazlin Hassan: Straits Times Singapore)

Teresa Kok To Hire Bodyguards

KUALA LUMPUR - MALAYSIAN opposition MP Teresa Kok is hiring bodyguards to protect her after the recent threatening SMSes and molotov cocktail attack on her family home.

She said she was advised by the police to hire bodyguards as a precautionary measure and for her own safety.

'I have been advised to look after my safety, that is why I am now in the midst of interviewing people to become my bodyguard,' she said outside the city police headquarters on Tuesday.

Ms Kok, accompanied by her father, had gone to the police station to get an update on the investigation of several police reports she and her family had lodged.

She said closed-circuit television (CCTV) cameras have been installed in her family home in Taman Rainbow, Jalan Ipoh after two molotov cocktails were thrown at the house on Sept 27.

However, when asked if she would be installing CCTVs in her apartment, Ms Kok said there was no need to do so as she felt her condominium unit was safe.

Ms Kok is also seeking help from the police to provide police presence during her upcoming Hari Raya open house functions on Sunday and next week in Puchong.

'I have told the Selangor police chief about my Hari Raya open house plans. 'I hope the increase in police presence during the event would help deter any untoward incidents,' she said. -- THE STAR

Dark Horse Candidates for UMNO's Deputy Presidency

I was shocked to hear that Datuk Ali Rustam and Datuk Ahmad Zahid Hamidi will be contesting for the the number 2 position in UMNO. What I am worried about is the credibility that they will bring to MALAYSIA. Both have no significant track records that can be proud of. Both have never introduced or produced any distinctive competitive advantage for MALAYSIA to compete on the world stage, both knows little about economy and financial markets. I am just afraid things will get worse for MALAYSIA. Decisions made on populist views rather than concrete knowledge about the economy and what's best for the nation. Datuk Zahid has been spending his life as a minister in PM's office and holding a portfolio such as Transport and Communications are pre-requisites to a higher position such as the Deputy President of UMNO. How about Jazlan? Jazlan is rather an unknown candidate but with good educational background. But he is also yet proven in moving a state at least to a higher level. Well Muhyiddin is at least the best out of those three. Forget Datuk Seri Rais Yatim.

RapidKL CEO Shaipudin Shah Harun Resigns

This is a good news to everyone. The incompetent Syarikat Prasarana Negara Bhd chief executive officer Shaipudin Shah Harun has tendered his resignation yesterday. A call to Prasarana confirmed that Shaipudin had put in his notice but did not reveal his reasons for doing so or who his successor will be.

His move comes at a critical time for Ministry of Finance-owned Prasarana, which is the sole asset holder for all the public transportation firms within the Klang Valley and Penang, including the light rail transit (LRT) systems, public buses and the KL monorail system.

Shaipudin had held the post of Prasarana’s CEO and executive director since Feb 15, 2005, according to the company’s website. I was quite surprised to know that he previously worked with Citibank as their head of Finance as what he had been doing for RapidKL certainly did not reflect the quality required of that a Citibank Executive. Not sure why the study took ages. He should just skip the politicians while designing the route as politicians always allow different priorities to cloud their mind instead of straight people's requirements sense.

Why Pakatan Rakyat Should Not Be Allowed To Form A Cabinet

This is a rushed job. Why not wait until the next election? This is not what we call the majority's voice. This is the voice of the selective, hypocritical, power-hungry BN MPs. Datuk Seri Anwar Ibrahim is just trying to paint that the picture that this is what the rakyat need. I think DYMM Seri Paduka Baginda YDP Agong is smart enough to read Anwar's political play. Why not strive for your cause within BN. If you think Pak Lah is ignoring your calls, check his basis first. Think about the possible long term impact to RAKYAT from a welfare economy. For example, Malaysia should increase the production of its own food supplies instead of importing them and giving subsidies on a long term basis to people. It will create a complacent environment and will result in declining economy as money put into non-productive use. In the end the country will collapse as it's getting sucked deeper and deeper into a subsidy culture.

Others include, instead of asking for a 25% petroleum royalty, ask for bigger allocation from the central government and make sure your spending is transparent and tangible. Put KPIs in place so that your planning is robust and money spent wisely. You are not dealing with rakyat only but also with God.

If this is really for the sake of rakyat, ANWAR IBRAHIM should promise RAKYAT that those cross-over should not hold ANY position at all in the to be formed PAKATAN RAKYAT's cabinet to show their sincerity. Otherwise they will be perceived and vindicated that they have crossed-over due to power, influence and money instead of rakyat.

In any case, Pak Lah should heed the signs and act accordingly.People including the UMNO's MT members want him out. Then BN will be slightly stronger and can win election next. I am not a proponent of Najib or Muhyiddin either. Raja Nazrin should take up the mantle. Why not?

LRT Kelana Jaya Line Upgrade Only in September 2009

THE first of the 35 LRT trains ordered for the Kelana Jaya line will arrive in Malaysia by November this year to meet increasing demands. However, commuters will have to wait until September next year before the first of these trains will be usable. The entire fleet will only be commisioned by April 2011. Syarikat Prasarana Negara Berhad chief executive officer Shaipudin Shah Harun said today that the reason for the 11-month wait was because the company needed to complete assembly of the trains, upgrade the power capability of the line, as well as do safety testing.. Asked about the lengthy period for the acquisition, Shaipudin said that it was the norm of the industry. ”Why does it take up to two years (for the first trains to be usable)? The answer is simple - every train is made from scratch, it costs between US1 to 2 million each and not just anybody can make them,” Shaipudin briefed reporters at a post-budget press conference held at their office. When asked why Prasarana had waited until the LRT had became congested before ordering the trains, Shaipudin said since the company only took over the operations in 2005, it could not be held accountable for what happened before that takeover. (source: NST)

I think this is a case of being stupid and selfish. This is not good for the BN government. I bet that the process can be accelerated by at least six months. Bombardier can work day and night, 24/7 to solve this issue. I don't think the people would mind if the government has to pay an extra RM10 million for this as the situation is getting worse everyday.

Forward planning is what they should do. They could have ordered new trains as soon as they took over in 2005. It has been 3 years now and people get squeezed and squashed every morning and in the evening every day. It's like waiting for accident to happen. I have seen people get pushed until they fall to the ground.

Why You Shouldn't Stop Economic Corridor Projects

Malaysia is at risk of making itself irrelevant and obsolete if it does not continue to find new areas for growth that can generate intense economic activities and new or enhance current stream of income. In face of high oil prices, developed economies continue with projects that will steer their economy into the next century. I was quite surprised to know today that someone from PAS suggested that the MALAYSIAN government should stop these economic projects. I wonder what would happen if these kind of people were given the chance to run MALAYSIA. I can only assume welfare economy whereby the nation is getting bankcrupt in 5-6 years time. Does he know that the majority of the investments in Iskandar Development Region (IDR) in the south is through FOREIGN DIRECT INVESTMENT (FDI) i.e. it's foreign money pouring into our country. Government's money is only a small portion of it and the rest is probably coming from the humble Tan Sri Syed Mokhtar's company. So why should it be stopped. For the rest of the region it's companies like UMW, Sime Darby and PETRONAS that are contributing the initial capital and they are also trying to attract foreign investments. If these projects don't go on, we will find unemployment increases dramatically. Your child or my child will be out of school/college soon, and the job market will not expand if you don't have economic activities generated by these projects. Where else should they work? There will be bigger problems facing the nation later on. We as a citizen should accept we can no longer be pampered by cheap petrols. We should start changing our lifestyle and be fuel-efficient to help the nation. Government is doing their best to steer us through this difficult period. Some of the mega projects with little economic benefits have been deferred.

Yes you may complain government getting paid transport to and fro from work. If so why you don't become a high-ranking government officer yourself? Why shouldn't you apply for the job. The job comes from hard work and serious commitments over the years and they deserve it and trust me it's not that much.. It's something that's not worth complaining about.

What we can do now is to persuade OPEC nations to increase supply of oil to depress the price and not to wait until September to decide on the new oil price.

SEREMBAN: Umno Youth deputy chief Khairy Jamaluddin has been nominated to contest the Rembau parliament seat, Mentri Besar Datuk Seri Mohamad Hasan said yesterday.

Mohamad, who is also Rembau Umno division head, said Khairy was nominated in his capacity as the national number two in the youth movement.

“The division met recently and decided that Khairy could be considered one of the candidates for the seat,” he said after chairing the exco meeting at Wisma Negri, adding that there were four others nominated for the seat.

Also nominated was incumbent Datuk Firdaus Muhammad Rom Harun.

Firdaus had previously indicated his willingness to give way to Rembau-born Khairy if the latter agreed to be nominated. Firdaus will then most likely contest one of the state seats. Mohamad said although the division had nominated Khairy, the final decision rested with the party leadership.

I am sure the REMBAU people are smarter than they think.

V.K. Lingam is Full of Shit and Political Plays in MALAYSIA

What is happening to MALAYSIA? Politics are getting dirtier each day. Oppositions and the government have lost their senses simply to be in power. Sometimes issues that they bring up are just soo ridiculous. They prefer to talk in general and not specifics. They always assume that the RAKYAT are stupid. Come on..In the case of V.K. Lingam, the court of justice's reputation is at stake and can't believe this guy just lying his ass off, time and time again. Doesn't he know how to repent?

V.K. Lingam Being His Stupid Self


Datuk Seri Anwar Ibrahim trying lamely to win votes from the Indian and Chinese. What he doesn't tell the people is the specifics of MALAY rights and possible power-sharing agreements between the ethnics if he were put into power which could anger the MALAYs. Pak Lah? Well Islam Hadhari should include his wife wearing a "tudung". Where is his stance on this truest Islamic Hadhari's demand?