Sunday, January 08, 2017

Statements by Anwar from jail

Malaysiakini - Economy not okay, Anwar tells Irwan (extracts):

Anwar Ibrahim has rubbished Treasury secretary-general Irwan Serigar Abdullah's assertions that the Malaysian economy was strong and was only being weighed down by perception.

"This belies and trivialises the actual challenges faced by millions of Malaysians," Anwar, a former finance minister, said in a statement through his lawyer Latheefa Koya today.

Irwan had on Thursday said the economy under Prime Minister Najib Abdul Razak's leadership was strong, but was being dragged down by negative perception.


... the US Department of Justice (DOJ) ... claimed that more than US$3.5 billion of 1MDB funds were misappropriated.

However, despite this, economists also expect Malaysia's gross domestic product growth to remain strong with a projected growth of between four to five percent for 2016.

Anwar Ibrahim said 'bullshit' to the assurance given by the sec-gen of the Treasury at Ministry of Finance, but (un-named) economists have been reported as saying they agreed with what the sec-gen had said, so who would be correct?

But I am somewhat puzzled that Anwar, who is still a convict, could somehow issue opposition statements from jail?

He must be an amazing convict to be able to do so and have the media report his views, wakakaka.


  1. The point is that if Anwar and his blue eyed dwarf had played their cards right,that is not fucked up GE13,Najib and his gang would have been sitting in the opposition bench.So,it is better to let losers be.


    The Malaysian Ringgit is in free fall. RM 4.5 to $USD.
    RM 5.0 to USD is a real possibility before the end of 2017.
    Malaysia's External Debt (money owed to foreigners) is $ 684,286,000,000 (I rounded up to the nearest million) as of last week. - 99% of which was build up during the Najis era.

    There is a serious lack of confidence among foreign investors on Malaysia's governance. We have been lumped together with other Banana Republics as far as transparency and rule of law is concerned.
    When the single largest destruction of national wealth in Malaysia's history simply gets covered up, with Zero consequences for anyone by Malaysia, and government investigators get punished for doing their job, confidence in Malaysia's governance and rule of law inevitable hits Rock Bottom.

    It is NOT a superficial matter of "perception" as Irwan claims.

    Irwan is just a Najis apologist, with zero credibility.

    As for Anwar statements , there is an "Anwar Express" which feeds information to and from Anwar on a daily basis. Suffice to say there are plenty of people from All walks of life in Malaysia who do not think that Anwar Ibrahim belongs in jail.

    Anwar Ibrahim is not being held incommunicado. No laws are being broken in providing communications to and from him.

    1. Out of 149 currencies in the world, 123 currencies have depreciated against the US dollar. This is primarily because the lower oil price averaging about USD44.00, interest rate increase by the Fed, and there is far too much of offshore speculations.

      The economy is gearing for a strong footing for the year of the Rooster as oil price is now USD54.00, palm oil is at RM3,200, and the rubber price has indeed increased by three-fold.

    2. A falling tide pulls down all boats, but the Malaysia Ringgit exchange boat is sinking faster than that of any other Asian economy.
      The Ringgit was the worst performing East Asian currency last year, at Banana Republic levels.
      It has fallen against the Singapore Dollar and Renminbi as well, so the Trump effect is only a partial explanation.

      When Crude Oil fell to USD 32 a barrel, the drop in the Ringgit was attributed to that. Fair enough. With Crude Oil at $ 55 per barrel, and the Ringgit has fallen even further, they are still dragging out the Crude Oil story.
      This is becoming an explanation which is argued to be true regardless of the facts.

      Pinocchio's nose is getting longer.

    3. Ringgit will bounce back. Most of the hot money is gone now. Yield on goverment bonds is improving. It is now mandatory to convert exports earnings into RM. Conversion of USD into RM will happen soon in order to realise forex gain. Imports will be more expensive. Our capital account will rise up. Just wait la.. it will not be long for RM to strengthen to around 4.1?

  3. Forcing exporting companies to convert their foreign revenue into Ringgit is a strategically-stupid tactical move by Bank Negara.

    I know why Bank Negara forced to do it - to staunch the Ringgit's collapse - but it will hurt Malaysia's competitiveness as a FID recipient in the long run.

    Multinational manufacturers will find it painful to convert its revenue into Ringgit, especially when the bulk of their material cost has to be imported and paid for in foreign currency. Allowing exporters to park their export Foreign currency earnings - USD, EUROs etc in Labuan was a smart Mahathir-era policy, which Najib is being forced to give up because of the consequences of the Kleptocracy that he runs.

    Thailand and Vietnam - both strong regional competitors with Malaysia for FID allow 100% exporters to retain their export Revenue in Forex.

    So if you are a Multinational looking at investing in a new plant in South East Asia, that is one significant negative for Malaysia.

    And don't spin by telling people this is a temporary move.
    One thing multinationals dislike even more than unfavourable policies, is flip-flop policy making which changes the rules suddenly now and then. They have Corporate Boards to answer to , and dislike policy surprises.