Rightways to Success

Saturday, 3 November 2018

Malaysia's Budget 2019: Making the tiger roar again in 3 years?

https://youtu.be/r8SdMk4UfTs https://youtu.be/SvZUBTyEoWQ https://youtu.be/BSp7aNmTZS4 https://youtu.be/hh_EYfFJZW8

The Pakatan Harapan government yesterday tabled its maiden budget that sought to restore Malaysia’s status as an “Asian Tiger” with a clean and transparent government that cares for the rakyat. (EPA/FANDY AZLAN)

KUALA LUMPUR: THE Pakatan Harapan government yesterday tabled its maiden budget that sought to restore Malaysia’s status as an “Asian Tiger” with a clean and transparent government that cares for the rakyat.

Finance Minister Lim Guan Eng, in tabling the 2019 Budget in Parliament, said: “As long as we are clean, people-centric and focused on carrying out institutional reforms, we can restore Malaysia back to fiscal health in three years.

“Let our love for our country unite us, our challenges make us stronger and our confidence awaken Malaysia as an Asian Tiger all over again.”

Themed “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society”, the RM314.5 billion budget for next year has three areas of focus with 12 key strategies.

One focus area — to ensure the socio-economic well-being of Malaysians — will be the key performance indicator of the government’s success.

“We will seek to meet this objective by ensuring welfare and quality of life, improving employment and employability, enhancing wealth and social welfare protection, raising real disposal income and education for a better future,” he said.

In a speech that lasted more than two hours, interrupted by intermittent heckling from opposition lawmakers, Lim announced a slew of measures to address the people’s key concerns, from cost of living to housing, healthcare, education and transport.

Cash grants for the low-income Bottom 40 (B40) group will continue, single vehicle/motorbike owners with engine capacity of 1500cc and below will get targeted fuel subsidy, and the minimum wage will be raised to RM1,100 from Jan 1.

A National Health Protection Fund, with free coverage on four critical illnesses of up to RM8,000 and a hospitalisation benefit of RM50 a day, was also introduced for the B40 group.

For the affordable home programmes, Lim announced an allocation of RM1.5 billion while Bank Negara Malaysia will set up a RM1 billion fund to help those earning below RM2,300 a month to own houses costing below RM150,000.

The government will also allow the private sector to engage in new crowdfunding schemes for first-time housebuyers.

The Education Ministry received the lion’s share of the budget, with an allocation of RM60.2 billion, including RM2.9 billion assistance for the poor and RM652 million to upgrade and repair schools.

An amount of RM3.8 billion has been set aside for government scholarships.

All intra-city toll rate hikes will be frozen next year, said Lim, and public transport users, meanwhile, can buy RM100 monthly passes for unlimited trips on RapidKL rail or bus services beginning January.

A RM50 monthly pass is also available for those who use RapidKL buses only.

Civil servants and pensioners were not left out — staff up to Grade 54 will receive a one-off special payment of RM500; while government pensioners will get RM250.

The budget deficit for this year is likely to be 3.7 per cent, while gross domestic product (GDP) growth is forecast at 4.8 per cent and 4.9 per cent next year.

To ensure strong and dynamic economic growth, another focus area is to promote an entrepreneurial state that leverages innovation and creativity, while embracing the new digital economy.

The government aims to provide at least 30Mbps broadband connectivity outside urban centres within five years, while funds have been allocated to encourage investments in green technology and transition into Industry 4.0.

Corporate tax rate will be reduced to 17 per cent from 18 per cent for SMEs with paid capital below RM2.5 million, and businesses with annual taxable income below RM500,000.

Meanwhile, after inheriting “a worrying state of financial affairs which was in dire straits” with debts amounting to RM1.065 trillion from the previous administration, the third area of focus is to implement institutional reforms that promote transparent fiscal discipline.

“We intend to table a new Government Procurement Act next year to govern procurement processes to ensure transparency and competition, while punishing abuse of power, negligence and corruption,” Lim said.

He said open tenders will not only achieve more value-for-money for taxpayers, it will also nurture an efficient and competitive private sector.

To ensure that Malaysia has a clean government, the budget also saw the Malaysian Anti-Corruption Commission receiving an increased allocation of RM286.8 million.

Lim said the allocation, which is an 18.5 per cent increase from this year’s, will see MACC employing up to 100 more staff next year as the government revs up its anti-graft campaign.

Putrajaya expects to collect a revenue of RM261.8 billion next year, including a RM30 billion dividend from Petronas.

To raise its revenue, the government will leverage its assets and review taxation policies.

This includes reducing its stake in non-strategic companies, expanding the Service Tax to cover online services, and raising licence fees and taxes in the gaming sector.- By Nst Team

The following are the highlights of the 2019 Budget, which was tabled by Finance Minister Lim Guan Eng in Parliament on Friday. (Bernama photo)

The budget carries the theme of "Credible Malaysia, Dynamic Economy, Prosperous Rakyat" and will focus on three main thrusts with 12 key strategies to recapture Malaysia's 'Economic Tiger' status.

The three main thrusts are:

*Institutional reforms
*People's wellbeing
*Promotion of entrepreneurial culture
.
The 12 strategies are:

*Strengthening fiscal management
*Restructuring and rationalising government debt
*Increase government revenue
*Ensuring welfare and quality life
*Increasing job opportunities and marketability
*Improving quality of healthcare services and social welfare protection
*Increasing disposable income
*Education for a better future
*Initiating new economic power
*Grabbing opportunity to face global challenge
*Redefining government’s role in business
*Ensuring economic fairness and sustainable economic growth

Related:

Govt vows to restore our finances - Nation

image: https://www.thestar.com.my/~/media/online/2018/11/03/03/17/budget-spread.ashx?la=en

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Good news for 6.6 million road users - Nation

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https://youtu.be/EkgANoSlvek

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Budget 2019 Highlights

For full coverage of Budget 2019, go to http://bit.ly/budget2019TheStar.

Budget 2019: The Real Winners (And The Losers) - iMoney

Housebuyers body slams new property gains tax

Higher RPGT will raise sub-sale prices, says PAM

Thursday, 1 November 2018

Malay supremacy - Ketuanan Melayu ! How to be supreme ?

"If we want to be tuan (master), we need to have knowledge, willingness to be hardworking, do things properly and not steal. Don't fellow the example of our previous prime minister (Datuk Seri Najib Tun Razak" said Dr. Mahathir:
Dr M: All races to be consulted on ICERD first

How to be supreme!

Here’s a plea to reconsider an unpalatable term favoured by certain politicians and nationalists.

Tsk, tsk, tsk. Can our dear politicians stop fighting? That’s what they keep telling us, don’t they?

If it is a Malay politician, he is fighting for Malay rights. If it’s an Indian leader, he’s fighting for Indian rights. If it’s a Chinese bloke, he’s fighting for... You get the drift.

Instead of the aggressive and violence-laden word, “fighting”, how about they use words like “promoting”,

“protecting” or “nurturing”?

I actually like another word more: “sharing”. I wish politicians will say things like, “Let me share what the Malay community’s thoughts and concerns are so that we can address them together.”

The word “Malay” can be substituted by any of the following: Chinese, Indian, Iban, Kadazan, Orang Asli, Muslim, Christian, Buddhist, Hindu, etc.

And why should it be so? Because we share this nation. It’s as simple and obvious as that.

The soil, air and water we all need to live have no boundaries when it comes to pollution, global warming and diminishing resources that affect us collectively.

Because when our economy gets bad, everyone suffers – jobs are lost, crimes increase, prices go up... You get the picture. If that happens, will fighting over community rights or racial supremacy help?

That’s why this endless debate over Malay supremacy – ketuanan Melayu – is so pointless and unnecessary.

Why do people get all riled up whenever it comes up, the latest being our youngest Cabinet member, Youth and Sports Minister Syed Saddiq Abdul Rahman, who said on Saturday the era of ketuanan Melayu had ended under the Pakatan Harapan government?

He went on to give the assurance that this did not mean the needs of the Malay community would be sidelined but that Putrajaya now preferred to emphasise the concept of “shared prosperity” to ensure fair and equitable distribution of wealth across all races.

Somehow that was misconstrued by some quarters and Tan Sri Muhyiddin Yassin, Parti Pribumi Bersatu Malaysia president and Home Minister, had to step in to explain and defend his young colleague. And how was Syed Saddiq misconstrued by the likes of Majlis Belia Negeri Johor?

Well, its president Md Salleheen Mohamad was quoted as saying that Syed Saddiq needed to understand Malay supremacy in the historical context.

He added that it wasn’t about the Malays as master and the non-Malays as slaves but about the position of the Malay sultans as pillars of the nation that protect the importance of Islam, Malay customs and the Malay language.

That sounds perfectly acceptable to me. But what is perhaps not very acceptable or palatable is the use of the word “supremacy” in the context of a race or community.

Despite the assurances that it is not about master versus slave, it brings to mind things like white supremacy and the Nazi’s brand of Aryan supremacism. And surely right-thinking people would agree these are really bad things.

The poster boys for white supremacists are the Klu Klux Klan of America whose members believe that the “white race” is superior in intelligence and culture over other so-called non-white races.

Back in the 1800s to the 1950s when white supremacy was at its height during the era of European colonisation of Africa and Asia, Europeans used being white-skinned and Christian to justify slavery and taking political and economic control of people of darker skin by military and religious methods.

But how “white” is defined is fluid. Not all ethnic groups with white skin were deemed white. The Irish and Italians were not considered as such in late 19th and early 20th century America. But the US government expanded its definition of whites to include Arabs and North Africans in 1944.

America is today very multi-ethnic but the Jim Crow mentality continues and is getting a major boost under Donald Trump’s presidency. The man suspected of sending letter bombs to Barack Obama and others last week considers himself a Trump supporter and a “foot soldier” for white supremacy. He openly proclaimed his love for Adolf Hitler and ethnic cleansing.

Indeed, the most dreadful and extreme example of racial supremacy was demonstrated by the Nazis and Hitler who used it to justify his extermination of millions of Jews and other undesirables like the gypsies, blacks, gay men and the disabled.

So when some people obsess over the need for their race or community to be supreme or “above” others, it doesn’t go down well as they come across as frightening and hate-filled.

That’s why such a term, Malay supremacy, to describe the upholding of the position of the Malay rulers and Islam is wrong in our Malaysian context.

Malays, I like to believe, are not hate-fuelled, nor do they want to exterminate the non-Malays. They just want to be reassured that the non-Malays understand this is a Malay-Muslim majority nation and that it will stay that way.

As a non-Malay Malaysian, I can give that assurance. And easily so. After all, as have been pointed out repeatedly, Malays dominate the armed forces, the civil service, the Cabinet, the GLCs and in plain demographics with a healthily growing urban middle class.

With such dominance and strength, surely the Malays are in a position to be more generous-hearted and can wean themselves off the siege mentality they were brainwashed with by the previous government that did it to stay in power.

As I have said before, non-Malays are not the enemy. Corrupt, divisive leaders are. They are the ones who want to continue the British colonial tactic of divide and rule that keeps the various races “at just the right distance from each other” so that it is easy to sow fear and suspicion against each other.

So let’s not fight any more. As Tun Dr Mahathir Mohamad, who has said he did not subscribe to the ketuanan Melayu concept, puts it, what is far more important is the willingness of all the communities to share the good and the bad and work together.

Here is where the Malays can show the way. It’s called leadership, Malay leadership. - The Star So aunty, so what? June H.L. Wong

AN OPEN LETTER TO OUR ELECTED NEW GOVERNMENT PUBLIC SERVANTS

Dear PH elected public servants,

We, the rakyat, elected a coalition called Pakatan Harapan under a single banner led by a 92 year old statesman whom we have, at least, the most trust for to save this nation. This is a MALAYSIAN mandate. Do not forget that. You are all public servants. SERVE.

We did not elect you to squabble over posts and spoils of war. We want a reformed nation. Not the same politicking and sharing of spoils amongst politicians. We do not care which party you came from.

The nation faces 3 immediate and present dangers:

1. We have an economic catastrophe waiting to happen due to economic malfeasance over the last decade - financed by debt.

2. We have a corrupt, racialist religiously-bigoted civil administrative system to be dismantled and replaced.

3. We have today an ineffective education but instead a religious-centric education system that has been the source of extremist indoctrination of Malay-Muslim youths and populace over the last 2 decades at least. The result being, Malaysia is per capita the largest exporter of terrorist Islamic fighters in the world and sympathisers. And a large unemployable pool of graduates as product of our failed system.

Lets be honest in our euphoria of victory that the work ahead is difficult. To be honest, the economic problems, intractable as it looks, is the easiest to solve. That I have full trust in Tun, his brilliantly assembled Council and newly minted Minister of Finance.

The other two challenges could very well be almost impossible but if not solved will mean the utter destruction of our beloved nation.

It will take great political-will from your leadership to make hard decisions to drag some of you, not to mention the mostly entitled ketuanan bangsa and ugama Malay-Muslim populace kicking and screaming towards reforms.

1. We need clear separation of religion and government. Government and public funds must stay out from the business of religion and religious morality.

2. We need to take out religious education and proselytising from the public arena. Religion must be a private matter and kept private.

3. Our education must emphasise education not indoctrination. There is no such thing as religious education, only indoctrination. The nation's future rests in its populace being science and technology passionate.

In conclusion, as I had mentioned before, by 2050, seven of 10 Malaysians will be Muslims. We do not reform at our peril. Do we want our nation to be another failed Muslim majority country as everyone of them is, or do we want to pioneer one that is a model Malaysia - developed, wealthy, technologically superior multi-ethnic multi-religious nation fair to all.

We, the Malaysian rakyat will be watching and we will be calling you to account throughout your term. Mark my word, we and I are only starting.

We wish you all the best and before I forget - congratulations.

Siti Kasim

A Malaysian

Note: No need to ask, just share if you agree.

Related:

Making Malaysia an innovation hub - Business News

Wednesday, 31 October 2018

Malaysia goes to UK court to challenge IPIC-1MDB consent award US$5.78bil (RM24.16bil)

Malaysia legally challenges a consent award granted in 2017 to Abu Dhabi's sovereign wealth fund, International Petroleum Investment Company (IPIC), following a debt dispute with its state investment fund, 1Malaysia Development Bhd.

Under the consent award, Malaysia is obliged to pay US$5.78 billion to IPIC and the bond trustee over five years. The country has paid US$1.46 billion so far.

Below is the full media statement from Malaysia's attorney-general, Tommy Thomas, explaining why the country is filing the legal challenge.

https://youtu.be/q_hewkxdyp8

CHALLENGING THE IPIC ARBITRATION CONSENT AWARD

1. The Government of Malaysia will apply to the Courts of England for an order to set aside a Consent Award recorded on 9th May 2017 by an Arbitration Tribunal sitting in London. We are confident that we have a strong case. The Arbitration, conducted under the Rules of the London Court of International Arbitration, was between International Petroleum Investment Company (“IPIC”) and Aabar Investments PJS, as Claimants, and 1MDB and our Minister of Finance Inc., as Respondents.

2. Under the Consent Award, Malaysia is obliged to pay US$5.78 billion to IPIC and the Bond Trustee over a five year period. So far, US$1.46 billion has been paid, leaving a balance of US$4.32 billion, with the next interest payment of US$50 million due on 11th November 2018. Similar interest payments are payable periodically until April 2022. The final bullet payments, representing principal and interest of US$1.8 billion each, are due and payable in May and October 2022.

3. The basis of Malaysia’s legal challenge in the High Court in London is that the Consent Award was procured by fraud or in a manner contrary to public policy. The Court application relates to the knowledge of IPIC and Aabar of the serious allegations made by the United States Department of Justice (DOJ) against former Prime Minister and Finance Minister Najib Razak, who was also the moving spirit and ultimate decision maker in 1MDB. Such knowledge on their part was acquired, “inter alia”, no later than the time when the DOJ’s Press Conference was held by the Attorney General of the United States, Loretta Lynch, in July 2016 when she announced the filing by by DOJ of several civil suits for the freezing of assets purchased by fraudsters from stolen proceeds, and popularly described as the greatest kleptocracy in modern history.

4. The grave, detailed allegations in those DOJ court documents were given tremendous global publicity, particularly in the political and business media. They had certainly entered the global public domain by July 2016. Najib Razak is identified as “MO1” in the DOJ pleadings. Any reasonable reader reading these court documents would immediately become aware of his central role in defrauding 1MDB to the benefit of himself, his stepson and Jho Low.

5. In such circumstances, Malaysia takes the position that IPIC and Aabar were aware of the fraud of Najib Razak. He was principally responsible for 1MDB and Minister of Finance Inc. consenting to the Award. Every system of law would hold that he could not possibly have acted in the best interests of his country and his company. Indeed, he did not. Fraud is an established ground to challenge the consent award for public policy reasons.

6. We are pleased to report that the application will be filed today in the High Court in London. Malaysia will claim that as a result of the fraud, we are relieved from any obligation to pay the balance of the US$4.32 billion to IPIC or Aabar under the Consent Award, and additionally have a right to recover the US$1.46 billion already paid.

Tommy Thomas Attorney General 30th October 2018

Related:

1MDB and IPIC settle arbitration proceedings

https://youtu.be/ooyrdnnGtsc