Remembering Haiti

Let us observe a moment of silence to the victims of Haitians quake. May God bless them and let us recite Al Fatehah to the Muslim victims.

2009 REVIEW

Finally we are now in the first 10 days of 2010. Obviously to me 2009 was a very sad year because I lost many people whom I dearly missed. First my father died 3oth December 2008 then my mother's auntie died of breast cancer. Another uncle died of H1N1 - v - . My grandmother died on 10 November 2009. I was in the bus to Kuala Terengganu with my younger brother (to pick up my brother's car)when my father's sister lost her husband as he prepared himself for Maghrib prayer.

This is what I called fate. It is HIM ALLAH the almighty which created us thus we are bound by His Rulings. Who knows I might die suddenly tomorrow, we are just humans. I believe there is One God which is ALLAH and Mohammed is his prophet. As a Muslim I believe Jesus is one of the 25 prophets a Muslim must know AND JESUS IS NOT THE SON OF GOD.

Those were the things I thought a lot since last Christmas. All of the sudden I remember 'Cengkaring'. I know it was a place but where.Then when the Tanah Abang mall tragedy struck I remember that it was Cengkaring Jakarta airport. I was in Jakarta for 2 weeks from Christmas 1986 to 8 January 1987.

Clearly after the failed Christmas plane attack I would expect a harsh and thorough body inspection if I were to travel to the western world. Certainly it would be nicer if I'm inspected by a female with blond hair.

May 2010 be a prosperous year!!

Tunku Abdul Rahman Putra Al Haj

It is the morning of commemorating the 1941 Pearl Harbor attack. Yesterday 6 December marked the 19th year of the death of Malaysia's first PM Tunku Abdul Rahman Putra. I still remember in 1990 (during my busy days commuting between Kuala Pilah and Kuala Lumpur to arrange my father's car insurance claim) when the news broke out Malaysia was silent for a while. Economic activity stopped. People weep,some broke into tears while others won't believe that The Father of Independence had died.

If the Sultan of Melaka is still alive he would be elated that his mistakes of losing Melaka to the Portuguese in 1511 hence the fall of the Melaka Sultanate was paid for by another royal household i.e. Tunku who was the son of a Kedah Sultan.

Tomorrow 8 December will mark the 22nd year my grandfather died. May God bless him.

Now that Malaysia has two submarines bearing the name of Tunku Abdul Rahman and Tun Razak (2nd PM), Malaysia is one step further to become a developed nation. If anyone reads the biography of the late Tunku one must realize that PM Najib's One Malaysia vision was based on Tunku's ideas too. I like to read Tunku's book "Looking Back"

Al Fatehah!

GST in 2011

It is now confirmed that Malaysia will introduce GST in Fall 2011. The rate is merely 4%. During my forgotten days between 1991 to 1997 I always wonder what was GST. And the same with VAT. It was only after my auntie died in September 1998 that I began to remember that I used to pay tax in Canada whenever I buy something i.e.provincial tax. If I'm not mistaken the rate for Saskatchewan provincial tax was 7% then.

By this time everyone should be doing some Christmas shopping. I remember during the 1987 Christmas shopping season I bought a Taiwan made stereo at Sears Mid town plaza Saskatoon for CAD 400. I still remember I met a granny with typical British accent although she said she was a Canadian. I know she is still alive.I hope I could meet her again. I wonder if I paid any Saskatchewan tax at that time...

Back to GST. In 1993 when the Canadian PC Mulroney government was defeated by Liberals Jean Chr'etian, I remember how my Saskatchewan friends used to say Chr'etian as the short tongue politician. The reason being Chr'etian never really honor his words because instead of repealing GST ,he introduced Harmonized Sales Tax HST.

I am eager to know the details of Malaysian GST. What sectors will be affected? I know hotels and fast food outlets are already imposing sales tax.(I worked as a trainee at McDonalds in 1995).What about small traders in rural Felda areas? Big items such as cars... If Gst is imposed then will cars be much cheaper? I remember then I did not pay any tax for gas in Saskatchewan.(remembering that PetroCanada gas station where I used to get free car wash although I paid only CAD 10 for gas and that blond counter girl)


GM

Now that GM is searching for new CEO, I wonder if GM can really choose someone who loves cars instead of the big perks. From 1991 - 1997 Proton and Perodua appointed CEOs from outside who were merely interested in big bucks. So the cars which Proton and Perodua made were not world standards.

It is the same thing if the government appoints someone who hates traveling to become diplomats. (no matter how good his language ability other than English was)


Malaysia is having mega sale again until January 2010. Come to Malaysia for your Christmas shopping.

Welcome to Melaka because Visit Melaka is Visit Malaysia.

Perodua MPV "ALZA"

A few days ago Perodua i.e. the second National Car (Perusahaan Otomobil Kedua) launched its version of MPV. Clearly the Alza is next after Proton Exora. I was at the showroom yesterday. Perodua is obvious in maintaining its Japanese partners identity i.e. Toyota and Daihatsu. Rarely I see a vehicle with center meter panel but for Alza, Perodua has made the move of change. I'm not into MPV but I know Exora and Alza are good products. Even when I was in Saskatoon the only mpv I drove was my then landlord's GM Dodge. It was huge and I felt as if I was driving a container truck.

Walking back from the showroom I remember a song which I downloaded last week. The title was "Surat Terakhir" or the "Final Letter" and sung by 70s singer Salamiah Hassan. As I listened to the song the lyric which really touched my heart was
"I hope no other women will receive the same rejection letter"

I remember I listened to the same song over and over again as I was driving alone from Saskatoon Saskatchewan to Thunder Bay Ontario during the 1989 mid term break. It was one hell of a blizzard and very very cold.

At the Seremban Public Library I looked at the latest issue of The Economist. Thank God my calculation on GDP was correct because The Economist estimate a -2.4% GDP for 2009 while I calculated -2.8% ( the variance is small )

The government's estimate for 2009 deficit at less than 6% is far less than The Economist figure of 8%. But bear in mind that PM Najib has revised the 2009 budget before tabling the 2010 budget.

For readers who like sentimental songs I strongly suggest downloading Surat Terakhir from Salamiah Hassan. There are some Korean and Japanese songs which I loved to hear. For example "Winter Sonata" a Korean song.

Thumbs UP Proton and Perodua !

GDP Q309 at -1.2%

BNM announced the third quarter GDP yesterday. I must admit the figures are interesting.

Q309 GDP -1.2%
Clearly this figure is acceptable for the time being. Since Q309 is better than Q209 I must also revise my estimate on 2009 GDP. Thus I say the 2009 GDP will be -2.8%


CPI
Q209 at 1.3%
Q309 at 2.3%
If I go to the wet market during this rainy season the price of fish, prawn and squids are quite high. Will it reflect the Q409 CPI?


Financial Sector
RWCR at 14.5% , CCR at 12.9% , Net NPL at 2.1%
Insurance Capital Adequacy Ratio at 214% compared to Q209 at 208%
It must be noted that NPL is classified between 1 to 3 months


Trade
Despite the reduced trade (imports down 18.3% , exports down 22.3%) a trade surplus of RM26.7 Billion is attained while reserves maintained at $96 Billion US.
The decision of the US Government to abandon FTA with Malaysia is understandable. I wonder if the US is keen on GSP with Malaysia again. To me FTA is good with a few set backs. As a result of the US Canada FTA 1989 the Canadian government was forced to relent to the CAW demands and bailed out General Motors Co last summer. If the Ontario government decides to save Canadian taxpayers money then many CAWs are jobless.


FDI
Q209 RM91 Billion, Q309 RM62 Billion
Honestly I don't understand this figure. A lower FDI while there is no more FDI committee? To me increasing interest rate per se will not attract much FDI.


Perhaps my earlier prediction of a lower consumption spending does not materialize. Obviously H1N1 has little impact on Malaysians. I guess I overlooked this particular aspect.


I look forward to a positive GDP Q409 number.

Correction - Tuanku Muhriz

The correct spelling of the new installed Negeri Sembilan ruler is:

Tuanku Muhriz ibni Almarhum Tuanku Munawir.

Please forgive me for the mistake.

GM To Repay Loans

Reading from the Associated Press that General Motors Co will start repaying its loans from the US and Canadian governments is expected. Right from the beginning of the crisis I have no doubts on GM's ability to pay its loans on time.


The initial sum of $6.7 billion to be paid quarterly i.e. $1 billion to the US government and $200 million to the Canadian government indicates the cash flow stream of GM. I do not know if the US and Canadian governments would charge penalties for early repayments because Malaysian banks do charge some money for early paid off loans. ( My car loan was paid off 3 months earlier than the July 2009 deadline - the bank charged a sum of interests although it was an Islamic Loan from a conventional bank)


Uni Asia General Insurance


Uni Asia General Insurance will soon go bankrupt! That is my prediction.

My Grandmother Died

On 10th November at 11am my grandmother on my father's side died. The news was expected considering she was 90 years old and senile. So now I have no more grandparents.

Al-Fatehah