Posts Tagged ‘Economy’

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Business and Racial preference

October 14th, 2008
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I’m confused over the article published by the Star below. It’s title says “Keep race out of business, says Najib“, but the content seems to say the opposite. He stresses that non-bumiputra companies must do something and that GLCs (bumiputra-based) also must do something.So, in order to not be doing business along racial lines, you have to look at race before doing business. Is it just me having a confusion here?

Why not just do business with those that offer the best deal for your business, or people you feel comfortable working with?

Anyway, one can’t run away from racial lines because there are many rules and restrictions that requires bumiputra partners or only exclusive for bumiputra companies. This is unavoidable due to the policies set and also the constitution.

Perhaps the article should be retitled “Race must be considered in business, says Najib”?

Parliament: Keep race out of business, says Najib
By SIM LEOI LEOI

KUALA LUMPUR: The Government does not want business in the private sector to be conducted along racial lines.

Deputy Prime Minister Datuk Seri Najib Tun Razak however said that all private companies were encouraged to build up a local vendor system to benefit small and medium-sized enterprises.

“So, all big non-bumiputra companies, particularly those which have received licences or contracts from the Government, should give priority towards the development of local small firms, including those owned by bumiputras.

“Goverment-linked companies (GLCs) also have a role in giving opportunities and guidance to all bumiputra and non-bumiputra businesses,” he told Datuk Seri Azmi Khalid (BN – Padang Besar).

Najib, recently appointed Finance Minister, also said that he had recently met with a few small businesses involved in the local furniture industry, particularly those contracted to supply furniture to the Government.

“They have asked for the tender system to be reviewed so that they will be considered later when awarding contracts,” he said.

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Deepavali Bazaar in Ipoh set to light up

October 14th, 2008
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After a war of words between the has-been and the current boss, Ipoh’s Little India is all set to be bathed in lights today. I guess the traders and community are relieved that their rice bowl and entertainment is not affected. As I mentioned many times, people are less bothered with who does it anymore. MIC, PKR, DAP, PAS, Gerakan – doesn’t matter. There’s no more loyalty to parties. Last time MIC used to organise the Deepavali bazaar (naturally because they were part of the ruling government). Now its Pakatan’s turn. According to the Star, the rental are lower this year, and the same traders are still given chance to take up the trading lots. Part of the money collected from the stalls rental will be given as aid to Sathia Devi, and the balance to build and arch in Little India.

The Deepavali bazaar and celebrations at Little India will begin early with trading starting today and cultural shows on Thursday.

Perak executive councillor A. Sivanesan said 86 stalls had been set up for the celebrations. Local artistes will be performing daily from 7.30pm to 11.30pm in the cultural nights until the last day of the bazaar on Oct 25.

Sivanesan said Ipoh Timor MP Lim Kit Siang would launch the Deepavali celebrations at Little India.

A committee, consisting of state government officers and members of non-governmental organisations and traders’ associations, had decided to rent out the stalls to the same operators who took part in last year’s celebrations.

The stalls would be let out to traders once they have paid a fee of between RM200 and RM450. The fee is based on the location and size of the stall. Last year, the stalls were rented out for between RM500 and RM1,000.

Sivanesan, who visited Little India yesterday, said the committee estimated the stalls would yield a collection of some RM25,000. Part of the proceeds collected would be donated to the family of student S. Sathiah Devi, 23, whose mother and the family’s sole breadwinner died recently in Sitiawan, he added. “The balance will be used to build an arch in Little India,” Sivanesan said, adding that there had been requests from the people for an arch.

If anyone can take some pictures of the bazaar, please share!

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MCA elections attract Indians says Merdeka Center survey

October 3rd, 2008
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Wow, I wonder if MCA change their name and constitution, would more Indians leave MIC/DAP/PKR/PPP and join MCA? 🙂

The poll, conducted by the centre between Sept 11 and 22, interviewed 1,002 registered voters on their perceptions of current issues, the economy and the country’s leadership. Respondents were selected via random stratified sampling method along the lines of state of residence, ethnicity, gender and age. 55% Malay, 36% Chinese, 9% Indian. 51% urbanites and 48% from rural area. Equal number of male and female respondents. 10% aged 63 above, 16% aged 56-63, 29% aged 44-55, 26% aged 32-43, and 19% aged 21-31.

A quarter of the respondents were homemakers, 22% were employed in private sector, 12% each are self-employed and retired, while 8% in public sector, 4% unemployed, and 2% own business.

35% of them had less than RM1500 household income, 26% between RM1501-3000, 14% between RM3001-RM5000, 12% having RM5000 or more, and 13% no answer.

In terms of location, 38% from central region, 24% from southern, 19% from eastern and nothern respectively. As for education level, 35% were SPM leavers, 19% primary education, 18% up to PMR level, 10% diploma, and 11% degree and above.

The margin of error was estimated at ±3.10%. It was also noted that the survey was concluded during “impending” September 16th crossover. The full poll results are in PDF format over here. It covers a wide area –

1. problems affecting the country at the moment – for which 50% were concerned over economic issues and 21% over political issues. Political issues rose 20% compared to March 2008.

2. satisfaction over federal goverment’s handling of the issues – generally the dissatisfaction is above 69&.

3. 21% were not aware of tabling of Budget! 42% said budget not beneficial at all, 23% said somewhat unbeneficial and 28% said somewhat beneficial.

4. 54% said if Pakatan forms federal government, the Malay political power will remain but UMNO loses power.

5. 53% were at least somewhat dissatisfied with PM Badawi’s performance, while 43% approved his performance. This was an overall improvement for all races if compared to the poll in mid August. with Chinese increasing by 5%, while Indians by 3%, Malays by 2%.

6. 44% agree that Najib will be a good PM while 39% disagree. This is an improvement compared to July poll results, except for Indians who declined 5%. It increased the most among the Chinese, 13%.

7. 69% say that Ahmad Ismail’s statement is unappropriate, while 25% agreed. The Indians registered 100% disproval, while it was 90% for the Chinese. It was 58% for the Malays. Hmmm…this is food for thought.

8. In the exclusive question for Malay respondents, 41% felt that Ahmad Ismail’s statement was born out of concern for the Malay community, while 55% said it was due to own political interest.

9. Quite a number of Indians believe Anwar is not an agent of US/Jews (85%), is not a sexual criminal (86%), is a competent manager of the economy (85%) and is a strong and visionary leader (90%). The other communities were not so believing.

10. And probably the most shocking find was that 70% of the Indians knew about MCA election compared to the Chinese themselves (55%) ! Indians were also not agreeable to a politician tainted with sexual scandal to hold senior position in a political party and government at 79%, with Malays at 88%. The Chinese were 54% disagreeable.

There were some other questions related to Anwar Ibrahim, and MCA elections as well.

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Inflation in August highest in 27 years

September 25th, 2008
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This is the third time newsflash saying inflation is at 27 years high. It was at 7.7 % in June, 8.5% in July (but revised to 8.3%) and its 8.5% in August.

The continuous high rates is due to cost of food and fuel. The official report says the cost of food and non-alcoholic drinks rose 11.7 percent in August compared to a year ago.

“The increase (in inflation for August) was shown in the selected main groups, namely food and non-alcoholic,” it said in a statement.

The August data showed escalating prices in most categories, including transport which jumped 21.8 percent, and restaurants and hotels which rose 6.5 percent.

After releasing August’s Consumer Price Index (CPI), Domestic Trade and Consumer Affairs Minister Shahrir Samad said he does not expect September’s inflation to be much lower.

“Although, the full effects of the petrol price reductions in August and now have not been fully factored in yet, September CPI may not be much lower.

“The lower petrol prices is expected to be offset by the increase spending during Hari Raya holidays and the 30 percent surcharge on public transportation,” said Shahrir.

But the minister does expect the CPI to have peaked.

On a positive note, Shahrir said that inflation seems to have stabilised as the month-to-month increase was only 0.2 percent. However, overall inflation for the year is expected to hover around 4.8 percent.

We can expect the high inflation rate to continue. Its no more at 2,3 or 4 percent levels. In other words, don’t expect the price of goods and services to go down even if fuel prices decrease.

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MIC assured of mechanism to purchase shares and opportunity for contractors

September 12th, 2008
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Malaysiakini reported a great news from Deputy PM Najib. In a meeting (not the Cabinet Committee in Indian Community’s second meeting?), MIC manages to get an “assurance” that a mechanism to enable purchasing of shares by the Indian community will be created. This is crucial to reach the 3 percent equity by 2020(actually, I hope it will be revised to 10 percent equity. 3 percent is an insult to MIC and the Indian community.)

Samy Vellu said that PNB is requested to handle the scheme (I suppose to avoid another scandal ala MAIKA).

“I requested the government to arrange for Indians interested in buying shares, a partial grant and the rest of the money could be obtained through easy loans from banks,” he said in a statement.

He said Najib, who chairs the cabinet committee on the development of Indians, would discuss the matter with PNB to work out “an amicable and acceptable solution” to MIC’s request.

“The Indian community is still very much dependent on the government for assistance, especially in increasing their equity participation,” added the MIC president.

Samy Vellu also raised the possibility of joint ventures between Indian and bumiputera contractors to do government projects. He said the issues and concerns faced by Indian contractors was submitted to him by the Malaysian Indian Contractors Association recently. Many of them were finding it difficult to participate in government projects.

“I also proposed that Indian contractors be allowed to bid for selected government projects and the deputy prime minister was receptive to the idea. He said it can be worked out,” he said.

The government would work out a formula where more government projects could be given to Indian contractors provided they embark on joint ventures with bumiputera contractors.

He said Najib would resolve the issuing licenses to Indian contractors to carry out projects, especially Class F contracts.

“I am optimistic that all our requests will meet with positive outcome from the government,” he said, adding that follow-up would be done at the next meeting of the cabinet committee

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