BUDGET 2011

As expected when PM Najib and Finance Minister presented his 2011 Budget speech last Friday October 15th 2010, I was asking the question many people asked. That is the deficit.

Back in the 1990s Malaysia had a budget surplus while in reality the current account was largely negative. The situation now is reverse where the budget is deficit but the current account is surplus.

To me 2011 budget has a loophole such that it failed to address the unattractiveness of Malaysia as a place to invest. The corporate and individual tax rates in Malaysia is still high (corporate at 25% if I'm not mistaken). Thus Malaysia is losing its competitiveness to its neighbors.

Most interesting is the exemption of import and excise duties on hybrid cars until December 2011 and maternity leave for public employees. Now that cellphones are much cheaper,I guess I could buy those 3G cells.

With 26000 Malaysians heading for Mecca for the haj, I feel the time has come for the government and Tabung Haji to have a better Tabung Haji Complex. Obviously the Kelana Jaya complex is too crowded and it is a nuisance to the neighborhood at this time of the year. Maybe the present LCCT at KLIA can be used as the new Tabung Haji Complex when the new LCCT terminal near Bunga Raya Complex is complete.

I presume many Malaysians abroad will come home in 2011 as the Talent Corporation takes shape. They should have no problem in getting a good job commensurate with their qualification and experience. I have nothing and I am Not a professional.

Overall it is the budget for the people as PM Najib always said People First, Performance Now.

ISLAMOPHOBIA

PM Najib spoke to the United Nations General Assembly(UNGA)recently. I think his most interesting topic was Islamophobia i.e. prejudice against Islam as a religion and Muslims as its followers.

The prejudice was evident a long time ago. There were 25 Muslim Malaysians government sponsored students attended College of Commerce University of Saskatchewan in September 1987.Four males and 21 females. One male and one female student was discontinued in September 1988. I was forced to leave in October 1990 and I guess the rests graduated in 1991.

Talking about Islamophobia...There were talks among students since we were the first Muslim batch attended the college. There were other Malaysians at U of S but they were NOT government sponsored. Some of my female friends wore the veil or tudung and that made people asking "nuns are attending school too?". Another student asked who will be the next Abu Nidal.

Another aspect is the 'SAMAK' or cleaning with the soil. Muslims do not eat pork, in fact bacon is a taboo (no offense to actor Kevin Bacon) to us.So each time we move to a new place we have to 'SAMAK' the fridge and the big freezer. The procedure is to clean the fridge 3 times with earth water and 4 times with ordinary water. We have to do the same procedure if we were exposed to dog's waste and saliva. Initially there was a misunderstanding but as time went by my very good friend will always have some earth soil stand by every time I went to her place because each time I went there her puppy will always kiss my hand.

I am not sure about the stringent checks at airports since 9/11. I HAVE NEVER BEEN OUT from Malaysia since 15 October 1990. But taking off shoes to me is nothing. I am NO VIP in Malaysia. Checking out shoes to me is nothing, not much of a problem compared to some Malaysian VVIPs, ex PMs and ex DPMs.

As to building a mosque at New York ground zero I have reservations.Initially the idea was good but as many people opposed it then I guess majority wins. To me Muslims in North America must remember their roots compared to the Caucasians and Metis.

Muslims are not terrorists. A Muslim must believe in 5 pillars of Islam, 6 pillars of Iman, the Quran and Prophet Muhammad (pbuh). Even in Malaysia there were many deviant Islamic teachings. Those people just use their followers for their own selfish gains i.e. money, assets and sex. Those deviant Muslim teachings were the roots of terrorism, so to speak.

But I am just an ordinary Muslim. I must admit while in Canada I seldom go to the mosque for Friday prayers. That is why for the last 20 years I tried my best to attend Friday prayers at the mosque. Furthermore I'm going 50.

THERE IS ONE GOD WHICH IS ALLAH and MUHAMMAD(pbuh) IS HIS MESSENGER.

PROTON Safety Recall

Finally the National car maker has made the call. All those Gen2 1.6 A/T with auto cruise function and Satria Neo 1.6 A/T with auto cruise function manufactured between April 2004 to June 2008 are recalled to inspect the clock springs.

More information at www.protonaftersales.com

1 MALAYSIA - ETP

When PM Najib took the office of the Malaysian 6th Prime Minister, he heed on a trademark of 1 Malaysia. In a nutshell, 1 Malaysia is a principle where the people come first in any government action. 1 MALAYSIA - people first, performance now.

Economic Transformation Program - ETP


While the government was previously the main engine of growth, ETP paves the way for private sector involvement. EPPs (Entry Point Projects) are the mainstream of the newly identified economy. There are 12 National Key Economic Areas (NKRAs)
1)Oil, gas and energy
2)Palm Oil
3)Financial Services
4)Tourism
5)Business Services
6)Improving electronics and electrical
7)Wholesale and retail
8)Education
9)Health care
10)Communication content and infrastructure
11)Agriculture
12)Greater Kuala Lumpur

As for #4 Tourism it could be subdivided into Health Tourism and Education Tourism. I remember when my father had his operation at IJN, there was a couple from another ASEAN nation who had their by pass operation there.

Lately Malaysia has also been a center for students from Africa and ASEAN nations to obtain tertiary education. These students would be traveling to many parts of Malaysia during term breaks.

I am anxious to know the actual size of greater Kuala Lumpur. Will it be like the MSC i.e.Multimedia Super Corridor where it covers the area of KLCC, Putrajaya and KLIA? My instinct says it will also cover the Negeri Sembilan north west area(Nilai or VALue)

HOWEVER
1 Malaysia to me is not completing my Bachelor's degree at Universiti Utara Malaysia UUM (at one time ESB USASK had an MOU with UUM). Never ever I wrote any letter nor I spoke to anyone to complete my BCommerce at UUM. It was absolute nonsense.

To my fellow friends who studied at Commerce University of Saskatchewan, Thank You FOR NOT inviting me to the raya gathering becoz you people do not have my contact number, does it not?

Stupid Malaysians

Malaysians are stupid-1991
Malaysians are stupid-1992
Malaysians are stupid-1993
Malaysians are stupid-1994
Malaysians are stupid-1995
Malaysians are stupid-1996
Malaysians are stupid-1997
Malaysians are stupid-1998
Malaysians are stupid-1999
Malaysians are stupid-2000
Malaysians are stupid-2001
Malaysians are stupid-2002
Malaysians are stupid-2003
Malaysians are stupid-2004
Malaysians are stupid-2005
Malaysians are stupid-2006
Malaysians are stupid-2007
Malaysians are stupid-2008
Malaysians are stupid-2009
Malaysians are stupid-2010

Why are Malaysians so damn bloody stupid?
Malaysians DO NOT like me and yet I must remain in Malaysia....

Great Speeches

For many months I have been studying the great speech made by the late King Edward VIII when he abdicated his throne to marry Wallis Warfield Simpson.

The paragraph which I really like is:

" But you must believe me when I tell you that I have found it impossible to carry the heavy burden of responsibility and to discharge my duties as King as I would wish to do without the help and support of the women I love "
(source http://www.historyplace.com/speeches/edward.htm)

There is no Malaysian women, none what so ever that I love.

Body Language

I didn't take up Psychology as one of my electives while at Commerce (now ESB) Usask Canada. But I took Sociology instead. Although it was a long time ago, I can still spell Weber correctly.

Talking about body language, Malaysians are stupid in reading my body language. They said I enjoyed staying in Malaysia while the fact is I hate staying in Malaysia, I hate celebrating Hari Raya in Malaysia. It has been 20 dull Hari Raya since 1991.

Compare 1) Tun Dr Mahathir enjoyed himself as Prime Minister of Malaysia for 22 years. He is a national hero.
2) I'm no camparison to Tun Dr Mahathir per se but 20 years in Malaysia since October 15, 1990 has been hell. Malaysians despised me.Malaysians hate me but Malaysians refuse to let me go to Canada. I'm willing to do anything to leave Malaysia coz I ain't got nothing.

Selamat Hari Raya Aidil Fitri

Muslims in Malaysia will celebrate eid ul-Fitr i.e. the end of Ramadan tomorrow Friday September 10th, 2010.

To all my readers Selamat hari Raya Aidil Fitri, Maaf Zahir Batin.

DODD-FRANK ACT

New Financial Reform
Although I received my financial education in Canada, I must admit that I was not familiar with the American Congress. Thus referring to my tweets, there was a confusion whether President Obama has signed Dodd-Frank Act. Answer; YES , President Obama has signed Dodd-Frank but the American senate is yet to do its part.

The point is April 21, 2011 when Dodd-Frank Act will be in action.

Reading comments from corporate jargon it is envisaged that the new act will not deter the next financial crisis expected in 2015. Past crisis tend to occur every 5 to 10 years. Beginning with the collapse of LTCM in 1997/98 then the mere crisis after 9/11 and eventually the events in December 2007 there is no full proof that Dodd-Frank Act would deter another financial crisis.

One loop hole in Dodd-Frank is the 150 billion resolution fund. Say in the future a firm is dismantle and 50 billion of the fund is used up, will those big firms have to inject another 5o billion to maintain a 150 billion fund or will it be sinking? How do we determine a firm as a threat to the economy? Maybe a company with lots of cash and invest it to buy liquid assets or a firm with healthy balance sheets but with less cash flow. I still consider GM & Chrysler a risk to the global economy because they are yet to repay their debts and obtain a reasonable debt to equity ratio. But we know both GM and Chrysler need no further restructuring. GM is on the right track to introduce an IPO. It will be nice to own some of GM's new IPOs.

Accruals and going concern