July 10th

I'm now in Putrajaya. Is it coincidence or God's will that it was July 10th 2009 General Motors emerged from bankruptcy. Now that GM is owned by the governments of America, Canada and Ontario I guess GM could focus to rebuild itself and be a strong automobile leader again. Since the new entity would retain only Chevrolet,Cadillac,Buick and GMC , I guess the Pontiac brand is truly a confirmed history.

July 10th 2002 was a great day for me when I took possession of my Perodua Kancil. Since I have installed a cd mp3 player inside my Kancil, recently I bought a Mozart cd i.e. the first cd I bought since 1991.

Cheer up GM!

Teaching Mathematics and Science in English

I could not hold my tears when I learned that commencing 2012 Mathematics and Science will be taught in Bahasa Malaysia again. No offense to my own mother tongue but I think the Najib administration had made a terrible decision.

The argument is that pupils from rural areas cannot cope with learning Maths and Science in English. I came from a rural area. During my secondary school days I learned Maths and Science in Bahasa Malaysia but when I did my matriculation I learned Maths in English. Initially it was difficult but as time went by it was ok.

To my critics, I got through with my Canadian studies and it was in English. I am still a Malay, I wear the sarung, I take off my shoes when I entered my house. The only thing which I have none is a Malay girlfriend.

The New Economy

1) Focus change
1a) From manufacturing base to high technology and modern services
1b) From semi skilled to skilled labor
1c) From low labor cost to highly paid workers

2) Previous announcement on liberalization of 27 services sub sector and financial sector

3) Fund Management
3a) Ownership of wholesale segment liberalized to 100% for foreigners
3b) For retail segment foreign ownership limit increase from 49% to 70%

4) Existing Stock broking companies
4a) Foreign ownership increase from 49% to 70%

5) Bumiputra equity only 2.4% in 1970's

6) Review of Foreign Investment Committee (FIC)
6a) Malaysian companies seeking listing at Bursa Malaysia must allocate 50% of the public shareholding spread to Bumiputra BUT there is NO post listing condition.

7) Ekuiti Nasional Berhad (Ekuinas)
7a) Set up as private equity fund to help Bumiputra invest in companies with no public listing.

8) Enhancement of Government-linked Companies (GLCs)

Those were backbone of the New Economic Model announced by Datuk Sri Najib,Minister of Finance and Prime Minister of Malaysia recently. To me Najib has really kept his word. To him the 30% Bumiputra allotment is out of date. In addition, PM Najib has answered the call for meritocracy.

For instance for any IPO, Bumiputra allotment of 50% only applies for pre listing. Thus after listing the Bumiputra equity may dilute to zero. BUT I have nothing to worry. The New Economy justifies the the wisdom of those voters who voted against Pak Lah and Najib during the last General Election.

Bumiputra in Malaysia are now in the middle income range. Since they were smart enough during elections thus they may also show their intelligence in equities and the economic pie.

Remembering Bukit Kepong

I was at Bukit Kepong Johor yesterday. Although I arrived late in the evening, I could still see the remnants of the Police Station attacked by the communist in February 1950. Seeing the surroundings, I could not figure out the place called Bukit Kepong in 1950. Even in 2009 Bukit Kepong is still a remote area.

Al Fatehah!

Chin Peng Has No Place in Malaysia

New Economic Model

As promised Prime Minister Najib unveiled the new economic model also on June 30th. Among other things the quota for Bumiputra is restructured. For instance any Initial Public Offer must be allocated 50% to Bumiputra.

Since I am not a graduate and to avoid those people who criticize me for writing about Finance while I ain't got nothing, I would put my comments on hold because I need to study this new economic model thoroughly first. Then only the then Education Minister in October 1990 would be satisfied.

My Health and If I have the Money

My doctor's appointment at Hospital Tuanku Ampuan Najihah June 30th gave me a sigh of relief. First my heart is still strong,no artery or valve problems BUT my irregular heart beat rhythm is the doctor's concern. I will be referred to Hospital Serdang near Putrajaya soon. I cannot afford to go to the National Heart Institute.

I imagine if I have the money I would go to University Hospital in Saskatoon Saskatchewan Canada. Maybe I could meet the doctor who was in my Industrial Relation class. Maybe I could meet Amie Gray the cystic fibrosis patient who had a lung transplant. (Readers Digest Asian edition March 2004). Maybe I could meet the lady whom I used to cry upon during my three-year stay in Saskatoon. Also on June 30th I went to the ward where my late father died. I was in tears but it would be nicer if she the Caucasian Canadian lady is in my arms.

My Ectopics and GM

I cannot say much regarding GM Saturn, Saab and Hummer divisions. The reason being I HAVE NOT driven those three models. But I did see the new Saab model in Kuala Lumpur whereby it is shaped like a BMW. It was such a regret that I cannot find a Saturn model of GM while studying in Saskatoon Saskatchewan Canada.

I did the Echo and Holter tests at Hospital Tuanku Ampuan Najihah Kuala Pilah on June 17th. The results as I have posted on my twitter was NOT GOOD. In 23 hours the Holter unit recorded too many ectopics and maybe my heart valve is also in trouble too. Should I be referred to the National Heart Institute in KL , my main concern is Finance.

Thereby I hope readers out there would kindly do their purchases from my blog advertisements. I guess this is the time to regret my decision to reject the offer by the Public Services Department Malaysia in 1995 as the Aviation Traffic Controller Assistant (something which is completely different from what I was trained for). As a government servant or its subsidiary the bills at National Heart Institute is limited to just bed and food.

In 1984 when I did my SPM secondary examination, I would pray as if I'm dying tomorrow and I would work hard in my studies as if I would live forever.

SO

I would pray as if I'm dying tomorrow and I would work at my banana farm as if I live forever.

GM Under Chapter 11

I was vacationing in Rompin Pahang and Mersing Johor when the official news of GM to be placed under chapter 11 surfaced. Now that the biggest car maker in the world is going to be restructured I guess many GM brands would vanish. Cutless,Pontiac will be history. Lee Iococa once said GM was a huge entity thus the decision to maintain the Chevrolet brand is understandable.

With immediate effect I have decided to DELETE my sinaranira.blogspot.com website.
Readers can still view my twitter at www.twitter.com/nizamval

Quarter One GDP -6.2%

Bank Negara Malaysia released the first quarter GDP of -6.2%
CPI for the first quarter is 3.7%
International Reserves at USD 88 Billion

Earlier I predicted the Malaysian Economy would stabilized at least a positive figure but clearly that does not materialized. Since the Central Bank has proposed another bleak figure for quarter 2 ,2009 a positive GDP for 2009 is unattainable. Thus my revised GDP forecast for 2009 is -4.8%

The good news is Malaysian Banks remain resilient despite the global crisis. But Bank Negara has assumed control of a local insurance company i.e. Tahan Insurance since Tahan Insurance failed to comply with its capital requirements.

Now that GM is prepared to go under chapter 11, my reaction is why can't GM sell its equities to individuals. I am certain in spite of the downturn Americans still have many millionaires and billionaires whom I believe would be interested to buy equities in GM.