Tuesday, December 11, 2018

Silence of Lamb (-paa-less) DAP in face of Mahathirism Redux

Silence of the Lamb-paa-less DAP (boe-hood) in face of Mahathirism Redux

FMT - Enough distractions, PH by Dr Kua Kia Soong:


Since its victory in the last general election, Pakatan Harapan (PH) has been feeding us an endless stream of distractions while not providing a political economic and socio-cultural plan that is different from Barisan Nasional’s (BN).

First, it put forward the mythical RM1 trillion debt mountain that was used as an excuse to cut public expenditure. Well, Moody’s 2018 figures for Malaysia’s debt put it at 50.8% of our GDP, not the 85% claimed by the government.

bagitu mudah, lu sudah pandai bullshit 

[see my post Moody chopped off Mahathir's financial knees]

[see my post Not so fast]

Then it continued to bash the last prime minister even though he is already in the hands of the AG’s Chambers and the courts.

And with MCA reduced to just one MP in Parliament, why is it being treated as if it poses such a threat to PH?

Now, a new distraction cast by PH leaders has emerged which is more serious and threatens our peace and good relations with our neighbour Singapore.

I am referring to PPBM’s policy and strategy bureau chief Rais Hussin’s warning Singapore of “pain by a thousand cuts” for its stance on this latest maritime and airspace dispute. Bluster indeed from one who will definitely not be cannon fodder when any skirmish starts.

Fabricated Singapore issues

Come on, are Malaysians to believe that these supposed “issues” with Singapore are not fabricated distractions after our peaceful coexistence with Singapore all these years – their water supply, the crooked bridge, the high-speed rail, the use of airspace and maritime territory?

Why have they suddenly become issues of contention? DAP and PKR leaders will have to bear collective responsibility if they do not draw the line as soon as possible.

Does it take much courage for PH leaders to tell Dr Mahathir Mohamad that his crooked bridge and third Malaysian car are rejected by all rational Malaysians and have made us the laughing stock of the world? Does it have to be the little boy who blurts out: “Look! The Emperor has no clothes on”?

Put it another way: which foolhardy PH leader is prepared to stand up and declare that they support the prime minister’s crooked bridge and third Malaysian car?

No more Mahathir-ist policies, please

Apart from these two hare-brained schemes, the privatisation of Khazanah is a return to Mahathirism 1.0 that is not acceptable and must be opposed by all Malaysians.

We must not allow our valuable sovereign wealth fund, Khazanah, to be privatised. During the financial crisis of 1997/98, it was Khazanah that stepped in to take over the assets of the failed companies owned by crony capitalists in Renong, MAS and TRI. After taking over the assets, Khazanah revamped these GLCs with professional managers and better rules of governance.

Certainly, GLCs being the people’s assets, should be the paragon of labour relations and democracy, demonstrating the use of best practices in environmental, gender and inclusive ethnic relations.

Furthermore, we should ensure that the professional managers in GLCs are not over-paid – the income ratio in any GLC should not exceed 1:20 between the highest and lowest paid staff.

Mahathir’s privatisation drive during his first term (1981-2003) was a boon for crony capitalists, especially those linked to the power holder in Umno. Malaysian taxpayers were the losers since these erstwhile profitable public utilities were sold for a song to private capitalists, and we became captive to Umno-linked monopolies such as the North-South Highway operator.

The lack of competitive tenders for many of these privatisation projects not only penalised taxpayers but also discriminated against the smaller Bumiputera entrepreneurs.

So please, never again! Don’t let Mahathir privatise our prized national asset and sovereign wealth fund Khazanah.

Barry Wain wrote Mahathir wasted at least RM100 Billion of Malaysian taxpayers' money

Show us a new vision for ‘New’ Malaysia

Instead of constantly raiding Petronas to patch the budget deficit, it is time that Petronas’ revenue is invested as a pension fund for the future generations and oil-producing states.

We also want strong public sector health, education, housing and transport services including highways which have been privatised to crony capitalists at the expense of the public good.

Our small and medium enterprises, farmers and fisherfolk need adequate support in order to develop our local food and industrial production.

The increasingly serious gap in income inequality needs to be addressed through progressive taxation on the high income earners, their wealth and property and effective tax laws to ensure there are no tax loopholes for the super-rich.

Capital allowances and tax holidays for foreign firms must be reviewed while a tax should be imposed on all international financial transactions and hedge funds.

Curb growing income inequality by imposing a higher marginal tax rate on high income earners, an incremental capital gains tax on property and financial assets, and other progressive taxes on wealth and luxury goods.

The revenue from this progressive taxation can then be used for our social welfare services.

This is the sort of reforms we expect in the New Malaysia; spare us the never-ending race-based policies, flip-flops and tedious distractions.

sollee, we're busy with our Sudoku


  1. overall, i think mahathir is doing fine, he sound lack authoritative n more rational, i just hope others in ph would speak up from time to time, their silence is the main reason a dictator emerge.

  2. All these 马后炮 (f*cked hindsight) comments when he himself can't even hold on to a small party post amongst politikus-ish competitions!

    Talk is cheap when one knows all one needs to do is fart.

    Prove yr worth first lah by able to hold on to a position of power. Otherwise, u r only just enjoying yrself in yr own flatulence surrounding.

    Bloody useless spurious bleeding heart trying to earn his 2cent worth of self-indulgence.

  3. In fact Kua has been bitching against Pakatan Harapan long before the elections, and certainly right from May 10.

    So this latest bitching whingeing is simply the continuation of a personal vendetta.

    1. anyone who doisagrees with your idol (dedak donator) is pursuing a personal vendetta etc etd, yawnnnnnnnnnnnn

    2. Mighty rich coming from the author of a blog which is now just a dedak earner attack dog in favour of Men 24x7

    3. Dedak donator.....Najib to Kaytee cheebye motherfucker......admit it la.....cheebye kaytee

    4. told u before, I did NOT fCk yr mum

  4. Mahathirism v1 is water under the bridge. Badawi & Najib had 15 years to nail Toonsie after he stepped down....BUT THEY DIDN'T. NOW IT IS TOO LATE. STIFF SHIT. Malaysians have "forgiven" Toonsie. That's why he won GE14 and four by-elections after that. Malaysians have voted CHAPATI as their favourite food. Now the flavour of the day is...TABUNG HAJI, to be followed by other GLCs.

    This government-backed get-rich-quick scheme that started almost 50 years ago can only last as long as they can continue getting shares at below market price and sell them at double or triple the cost price. Once that ends — such as companies are not being listed, you can no longer get millions of listed shares for a song, or the stock market is not booming — then you will start seeing the house of cards fall. LUTH or Lembaga Urusan Tabung Haji (now called LTH) started out as a savings fund. Poor fishermen, farmers and land settlers (or even civil servants) could not fork out RM3,000 or RM4,000 in one go (what it cost back then) to pay for the cost of performing the Haj or pilgrimage. So, they deposited the money, say RM10 or RM20 a month, in LUTH and maybe after 20 or 30 years the amount saved would be enough to go to Mekah.
    But then RM10 or RM20 today will be worth less in 20- or 30-years’ time if the money sits idle and does not grow. For example, inflation would eat into your capital and, by 20- or 30-years’ time, your money would lose maybe 90% of its value. LUTH, therefore, must pay at least 8.5-9.5% in dividends to make it worth saving that money. Tabung Haji is a house of cards, like many other trust agencies or unit trusts. The same went for PNB, LTAT, and many more. They need to pay at least 8.5-9.5% to make it worth investing your money in these unit trusts or trust agencies. PNB, LUTH, LTAT, etc., are practically government-guaranteed. You are sure of getting more returns on your investment than what the banks give for fixed deposits. And the government does this by ‘abusing’ the New Economic Policy or NEP. When companies list their shares, they need to allocate at least 30% of their shares to Bumiputeras. The government-backed GLCs or trust agencies then pick up those Bumiputera shares at par (the shares are not supposed to go to individuals although since Mahathir’s-Daim’s-Anwar’s time some do slip through the floorboard and end up in the hands of individuals). Is Permodalan Nasional Berhad or PNB going to be the next to fall? Let us take TNB as one example. The GLCs, PNB, LUTH, LTAT, etc., get TNB shares at par value and then when the shares double or triple in price they sell off part of the shares to service dividends. The balance of the shares would now be fully paid or free of charge and there would be enough cash to pay the 8.5-9.5% dividend to the investors. Basically, you get shares cheap or below market value, you ‘play’ the market, you sell off some shares at a huge profit to generate cash while still retaining a substantial number of shares as long-term investments, and so on. And that is why the government cannot end the NEP even though it was supposed to end more than 28 years ago in 1990. If the NEP ends then the government cannot ‘squeeze’ listed companies for 30% of its shares at cheap-sale price. Then the GLCs and trust agencies cannot continue to pay 8.5-9.5% dividends — or else will have to pay the 8.5-9.5% dividends and lose money, like what happened to Tabung Haji and most likely many more GLCs and trust agencies (but thus far we are not being told about the other disasters). The listing of TNB and many other GLCs made many trust agencies rich, which was how they serviced the 8.5-9.5% dividends.....

  5. ......This government-backed get-rich-quick scheme that started almost 50 years ago can only last as long as they can continue getting shares at below market price and sell them at double or triple the cost price. Once that ends — such as companies are not being listed, you can no longer get millions of listed shares for a song, or the stock market is not booming — then you will start seeing the house of cards fall. Today, Tabung Haji is the first victim. Many more victims are around the corner, maybe even PNB. The government cannot admit that their 50-year get-rich-quick scheme has hit the end of the road. They will need to blame ‘mismanagement’ and ‘abuse of power’ as the reason. But the real reason is the government was using (abusing) the NEP as the excuse to squeeze businessmen for cheap shares which they then sold for 100% or 200% profit.

    1. Do u honestly think these zombies/ketuanan freaks/blur-sotongs care about what have been disclosed for the world to see?

      Bloody leaching opportunist having more than RM190M in single account in LTH!. Just consider a normal dividend payment of 5%, this rent-seeker collects RM9.5M annually - free from tax & with principle fully guaranteed by govt in any eventuality.

      Expand this manna-buta exploitation to the remaining 1.3% (117,000 zombie elites) of the LTH contibutors, who collectively owned >50% of ALL the LTH deposits of RM70.78B, one sees a wholesale sapu-ing of the B40's humanistic handouts by the govt!

      The story DOESN'T end here. From the book ≪The Colour of Inequality: Ethnicity, Class, Income and Wealth in Malaysia≫ written by Muhammed Abdul Khalid, one also sees the similar display of wanton cannibalisation of the PNB schemes of helping the B40 melayu by their alifbata chanting elites.

      The mom has an honest piece:


      In which he describes CORRECTLY & FACTUALLY about these B40 uplifting schemes as nothing but a large scale Ponzi scheme.

      Now, finally the wolves r coming back to the lair for their hunger urge for manna-buta, when there is nothing out there for them to sapu!

      Serve u RIGHT - including some of those self-trumpetted god fearing, spurious maruah championing & kindred-leaching melayu commentators HERE!

      Ooop… my Iranian associates told me once, when the fanatical theocracy came back to Iran, the first group of the people to cabut is those blood fleshing elites, then the educated one & then the liberal youth.

      CBMFers, which category u belong when the bolihland Islamic state is formed?

  6. Arul Kanda Arrested and Charged. Let's Celebrate and Have a Good Time !!


    Kool & The Gang

    Yahoo! This is your celebration
    Yahoo! This is your celebration
    Celebrate good times, come on! (Let's celebrate)
    Celebrate good times, come on! (Let's celebrate)
    There's a party goin' on right here
    A celebration to last throughout the years
    So bring your good times, and your laughter too
    We gonna celebrate your party with you
    Come on now
    Let's all celebrate and have a good time
    We gonna celebrate and have a good time
    It's time to come together
    It's up to you, what's your pleasure
    Everyone around the world
    Come on!
    Yahoo! It's a celebration
    Celebrate good times, come on!
    It's a celebration
    Celebrate good times, come on!
    Let's celebrate
    We're gonna have a good time tonight
    Let's celebrate, it's all right
    We're gonna…

    1. Audit reports do get amended from draft to final publication.
      It happens with the private sector as well.

      If the auditors wrote something that is factually incorrect, the officers of the audited company have the right to request amendments.
      Or auditors wrote something that is strictly a subjective opinion, where the facts are unclear or could be reasonably interpreted in other ways, there is room to have the report amended.

      In this case it appears to be a clear-cut suppression of critical facts regarding 1MDB from Draft to Final Report.

      Najib and Arul Kanda stood to gain from the suppression of critical facts, Najib politically and god knows what financial gain, and Arul Kanda for lucrative gain.

      That would be grounds for prosecution of criminal fraud.

      The former Auditor General Ambrin Buang has his professional reputation destroyed , but he may escape prosecution.
      It is unclear what personal gain he made from agreeing to amend the Audit report, and his "I had no choice but to follow orders" may be a morally objectionable but legally acceptable defence.

    2. https://www.thestar.com.my/news/nation/2018/12/11/spv-under-mof-to-take-over-rm19_9bil-underperforming-assets-from-tabung-haji/

      Well... alleged "Mahathir Lapdog" Lim Guan Eng has carried out the first Mega Bailout of Mahathir 2.0.
      RM 30 Million cannot give to TAR Kolej, but RM 19.9 Billion takeover of Tabung Haji toxic assets OK.

      So Tabung Haji gets a clean new balance sheet, and taxpayer gets RM 19.9 Billion (on paper) of goodness what assets likely worth a tiny fraction of that.

      And the Malays won't even thank you.

      From my going the rounds this week, there is a near complete lack of outrage amongst Malays over the rape of Tabung Haji by the previous Najib Administration, as well as Hadi & Pus silence.

  7. Long time haven't been back here...I don't want to comment here, as I think the blog owner is wrong to treat this new administration as simply the return of Mahathirism.

    I resisted Mahathirism for decades.
    The corruption, authoritarianism, the brutal suppression of the Reformasi protests were all part of my journey from a Corporate worker into politics.

    I'm pretty much retired from work as well as politics.
    Penang is in safe hands, Putrajaya a little less so , but it is important this becomes a Pakatan Harapan administration, and not just a Mahathir administration.

    I for one am very glad, and still very glad the Najib regime is gone.
    Najib wasn't just the same as Mahathir.
    Najib took the debasement of Malaysian institutions to new depths of depravity, something we were just yesterday continuing to uncover.

    So, if Kua Kia Soong wants us to stop bashing the last prime minister because he is already in the hands of the AG’s Chambers and the courts, he is wrong. The depth and extent of the deceit and corruption of Najibism is Still being newly unearthed.

    That is on top of other misdeeds which are outside the realm of criminal law, more wrongs of governance and integrity.

    PKR, DAP and Amanah have a real chance to build a different Malaysia.
    Pribumi should not try to be UMNO 2.0 by simply coopting frogs.

    The government's handling of the anti-ICERD rally, though I strongly disagreed with the group's objectives, was exemplary.
    No tear gas was fired, no water cannons sprayed, no arrests were made.

    Of course , the all-Malay participants would ensure the government would tread carefully. But the Reformasi protests, Bersih , Bersih 2.0 , Bersih 3.0 all had heavy Malay participation, and that didn't stop the BN Government (Mahathir-led in the 1st case) from suppressing the protests violently.

    I don't consider this administration Mahathirism-redux, though there is certainly a risk of backsliding, which PKR and DAP, especially must be ready to resist.

    Cheers...here's to a different Malaysia. Its not guaranteed , but we do have a chance, where there was none.

    1. Ahh...Rocketman...I didn't forget you, although I was still in the my twenties when I read all your writes a few years back. You are much missed, that's the truth.

  8. He is neither innocent nor guilty. Let the court decides.