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breakdown of PTPN loan defaulters

May 30th, 2009
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From MP for Kapar’s site:

Amaun pinjaman yang sepatutnya dibayar balik oleh peminjam kepada PTPTN adalah sebanyak RM 2.12 billion yang melibatkan 597,066 peminjam. Daripada jumlah tersebut, sebanyak RM1.02 billion telah berjaya dikutip manakala baki yang tertunggak adalah sebanyak RM1.09 billion. Daripada jumlah baki tertunggak tersebut, sebanyak RM 798.07 Juta (73.2%) adalah terdiri dari peminjam kaum Melayu, RM 174.05 (16.0 %) dari peminjam kaum Cina, RM 51.0 juta (4.7%) dari peminjam kaum India dan RM 67.3 (6.2%) terdiri daripada peminjam lain-lain kaum.

hmm…any comments? For me, I was thinking that “lain-lain” should have been the highest borrowers (assuming we are refering to East Malaysians). Maybe most of them paid back in time, thus not reflected in the defaulters statistics.

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Some quick stats on Mara

May 29th, 2009
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A quickie:

To date, Mara has financed 351,330 students for tertiary education locally and overseas since the start of the 1st Malaysia Plan until today.

Under its entrepreneur development programme, the agency has given out RM1.8 billion in assistance to more than 20,000 entrepreneurs since 2006.

source: NST

Note: Rancangan Malaysia Pertama (RMK1) was from 1966-1970. In 43 years, 351,330 students meaning on average of 8,170 students per year.

RM1.8 billion per year since 2006, means on average RM450 million per year (inclusive 2009). If 20,000 entrepreneurs as stated above, that works out to be RM90,000  per entrepreneur!

Do note that the similar statistics were provided in March 2008 – RM18 billion, 130,000 entrepreneurs, 4 years. If we divide 18 billion by 130,000 people = Rm138 thousand per entrepreneur.

Of course entrepreneur can refer to a company instead of one person, but very rare.

Now, of course, we can compare with RM430 million allocated to Indian community (that means the whole 2 million of us) over the last 5 years (9th MP) and the community should be grateful and thankful  for such big grants. 🙂

I mean “allocating” RM430 million to a community of 2 million trouble makers, hooligans, criminals, jokers, etc. is quite noble and is on par with allocating RM18 billion to 130,ooo people (or RM1.8 billion to 20,000 people).

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Honorary Doctorate of Humanity for Mahathir

May 29th, 2009
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Lim Kok Wing University is giving Honorary Doctorate of Humanity to Tun Mahathir next weekend. Saw a lots of buntings along the roadside past few days.

Their website has more details. It seems Nelson Mandela is also recipient of such Doctorate.

Date: 8 June 2009
Time: 9:00 AM – 11:00 AM
Venue: Hall of Fame, Limkokwing University, Cyberjaya
Location: Malaysia

* Pity the staff, have to work on weekend 6th (public holiday!) and 7th to arrange the function. Hope will get replacement leave.

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Economy contracts 6.2 percent

May 28th, 2009
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I remember reading our economy experts and politicians saying no recession, economy on recovery road, blah, blah, blah, blah..But today papers splash main news: Economic shrinks 6.2 percent, nearly double the expected 3.5%! Now I wonder if those “experts” were really experts or by-products of some top 50,000 colleges, and whether qualified people are making press statements and holding important positions in administration.

Next problem is whether we can still trust analysis and reports made after this because one trust is lost, difficult to win back. Will economy improve in the second half as mentioned below? Well, have to take it with a pinch of salt because these reports have political connotations attached.

The national economy contracted at 6.2% for the first three months this year compared to the same period last year, due to a global economic slump. Economists had expected only a 3.5% contraction.

Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said at a media briefing yesterday that the financial crisis, which peaked last September and led to a general slowdown in economic activity, had taken longer than expected to be resolved.

She said “the deterioration was greater than expected” and that the exports outlook “remained weak”, adding that the outlook for April to June would depend largely on external factors.

However, she expected the second half of the year to see a better economic performance.

According to statistics released by Bank Negara, the large inventory drawdown, particularly in manufacturing and commodity, also contributed to the decline in growth.

It said all sectors, except for construction, recorded contractions year-on-year. The manufacturing sector declined significantly by 17.6% led by a 23.1% contraction in export-oriented industries with the electrical and electronics subsector experiencing a steep 41.4% contraction.

Domestic-oriented industries also experienced a decline of 15.9% due to weakness in both consumer and construction-related subsectors.

The central bank said the services sector was flat following a 0.1% decline due to the impact from sub-sectors closely linked to the manufacturing sector.

It added that the trade surplus remained large at RM32.7bil as the contraction in imports was larger than in exports due to the lower imports of intermediate and capital goods.

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Samy backs Palanivel for deputy president

May 27th, 2009
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Not sure how reliable the news from Bernama is, but here it goes as reported by MK: Samy supports Palanivel to defend his post, and subsequently replace Samy as president next year.

MIC deputy president G Palanivel has received the backing of S Samy Vellu to defend his post at the party polls in September and eventually succeed the latter as president.

MCPX

According to Bernama, a senior state MIC leader revealed that the former women, family and community development deputy minister had received the blessings of Samy Vellu.

The president, he said, endorsed Palanivel for deputy president last week at a meeting with several senior MIC state leaders and had informed his decision to vice-president S Sothinathan and Human Resources Minister and MIC secretary-general Dr S Subramaniam.

Sothinathan was earlier widely tipped to receive Samy Vellu’s backing for the party number two post, following the MIC president’s “stormy” relationship with 58-year-old Palanivel over the last year.

However, it is learnt that the president’s decision favouring Palanivel was expected, taking into account the age and experience of the journalist-turned-politician in leading the party.

“The president also felt that Palanivel, had the humanity, close contact with the grassroots and various other qualities to take helm of the party after he retires,” said the leader who did not want to be named.

Palanivel could not be contacted for comment.

 Samy Vellu after winning the presidential election uncontested in March, this year, had declared that this would be his last term and whoever picked as deputy president at the party election would take over the leadership of the 630,000-member party after his retirement from active politics.

However, many had expected Samy Vellu’s decision to favour Palanivel especially with the “close relations” the two leaders are enjoying presently.

Prior to the presidential election, Samy Vellu told a closed-door gathering of party division leaders from Selangor at a hotel, here, that his relationship with Palanivel, fondly known as “GP” in the party circles was akin to the relationship of a husband and wife.

“In a husband-wife relationship there are bound to be fights and disagreements but this does not mean that we have to divorce. That would not make a happy marriage. My relationship with Palanivel is the same. We are like a husband and wife team,” Samy Vellu was said to have told the division leaders.

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