Sunday, December 22, 2019

Pakatan's management of economy poor


The Edge Markets:

What ails Malaysia? Seven prominent people give us their take


KUALA LUMPUR (Dec 23): The FBMKLCI is down 4.7% year to date or 80 points. It is the worst-performing benchmark index in Asia in 2019.

Some US$2 billion in global funds have exited Malaysian stocks this year, according to Bloomberg, while former Finance Minister II, Datuk Seri Johari Abdul Ghani has put the figure at more than RM20 billion since May 2018. This outflow is deemed the largest among emerging Asian equity markets.

The dismal performance has been largely blamed on cuts in public spending given the government's fiscal constraints, a weak ringgit and question marks over the succession of the country’s leadership.

The share index’s price-to-book valuation of 1.5 times is near the lowest since 2009 and at a discount to the 10-year average. The market is 5% away from bear market levels, Bloomberg reported.
Adding to the issues is the increasing number of companies that have let go of employees.

Last month, Bank Negara Malaysia announced that the economy grew 4.4% in the third quarter of 2019, moderately lower compared with the 4.9% growth recorded in the second quarter. The Malaysian economy continued to expand in the third quarter bringing the overall performance of the first three quarters to 4.6%. The unemployment rate was stable at 3.3% in the third quarter of 2019, according to Bank Negara's statistics. However, the numbers do not seem to reflect the situation on the ground.

Meanwhile, disharmony and racial issues are being fanned by various quarters for political mileage.



Eight bells and all's well
Economy's eff-ing good
Hoping my balls'll swell
& I won't be boelaanhood

14 comments:

  1. the stupid hv no idea what to do next, all he could do is send out more notice of assessment.

    ReplyDelete
  2. Who else is doing better, q-to-q, since Trump declared that trade war between US & China?

    Just shoot from the hip to vent yr own inability to ANYTHING - that's the easiest part for a know-nothing to showcase his/her mental power!

    ReplyDelete
  3. It's about time to get Daim back to the driver's seat.

    ReplyDelete
    Replies
    1. Daim...diam diam isi his own pockets again if he gets back to the driver's seat

      Delete
  4. What do you do when a company has been corruptly run for decades, and the previous Managing Director was pilfering to the tune of Billions, and you are running out of money to pay employees ?

    One, you cut back aggressively to survive.
    Two, you lay the foundation to flourish again.
    Three, if your strategy is good, after some years , you come back roaring.

    The first 1 1/2 years of Pakatan rule was very necessary cut back. Otherwise Malaysia would have been staring at a Cash Flow disaster.
    It was Lim Guan Eng's job to administer the bitter medicine.

    ReplyDelete
    Replies
    1. But k9 caretaker ONLY worries about his ego to shoot!

      Delete
  5. Johari Abdul Ghani good at talking talk clock.. he was one of the corrupt players who looked the other way,and possibly partook in the dirty 1MDB funds.

    ReplyDelete
  6. "The Finance Ministry (MoF) has never given any public funds to 1Malaysia Development Bhd (1MDB) to help settle its debt," Second Finance Minister Datuk Seri Johari Abdul Ghani , lied to the Malaysian public on 8th August 2017

    ReplyDelete
  7. We had a former Finance Minister now charged with so many counts I lost count and a SECOND Finance Minister who was an OFFICE BOY.

    QUOTE
    I was treated like office boy, ex-second finance minister tells Najib trial

    V Anbalagan -August 6, 2019

    KUALA LUMPUR: Najib Razak’s corruption and criminal breach of trust trial was told today that the former prime minister displayed blatant autocratic leadership in the handling of 1MDB and SRC International Sdn Bhd.

    Former second finance minister Ahmad Husni Mohamed Hanadzlah said he was left in the dark about SRC, once a subsidiary of 1MDB, which was formed in 2011.

    Husni, who was in Najib ‘s Cabinet from 2009 to 2016, said he came to know in detail about SRC only in 2013.

    “I came to be aware that I am nobody. I was treated like an office boy,” he said when examined by deputy public prosecutor Muhammad Izzat Fauzan.
    UNQUOTE

    ReplyDelete
  8. KT and The Edge very naughty.

    When Guanee was made FM, many teased him as a "book-keeper", no power, no-lampah, Toonsie diluted his power by making Azmin as Economic Affairs Minister in charge of powerful GLCs.

    But now they say the "poor" economy is due to this "book-keeper" only?
    No mention of Azmin by KT?

    So make up your mind. Is Guanee a powerful FM in charge of the economy or not?

    ReplyDelete
    Replies
    1. Superficially condemning mamak & the Azmin and his DΓΆkkΓ‘lfar Dwarfs.

      The ulterior motives ARE the blackgoating of DSP!

      Hmmmm… wondering who eventually benefits from these?

      The K9?

      Delete
    2. lge is definitely a stupid, he can only play politics like mahathir to conceal his stupidity, n tax the people, a finance ministry monopoly, no diff with an ap holder, a parasite.

      Delete
    3. Maybe KT has a score to even with LGE so he never give LGE fair reporting in his blog. It's his blog, so he decides what he want to write/link/quote especially those negative write-up on the 'book-keeper' such as from MCA, Mkini, MySinChew etc. SO far none of those articles rebutting the those allegation on TARUC has appeared here (except in the commentators' posting) to give the readers a fair perspective of the issue.

      Delete
    4. His hatred of LGE knows no bound, even to the pettiness of posting endlessly a less than flattering picture of him, hehe. Unfortunately for this blogger, it only reflects badly on himself..the shit tembak balik ke sendiri. Hahahahaha

      Delete