From: kl yeoh <[EMAIL PROTECTED]>
Sent: Tuesday, August 22, 2006 7:51:34 AM
Subject: Re: Malaysia's Makeover Lures Investors [BusinessWeek]
I agree with some of your points Nasrul, but maybe not
all.
Let's see...
- increase in # of unemployed graduates. Well, that
would be a major problem if every state wants to fight
to have their own universities and some have several
universities producing hundreds and thousands of
graduates. But who really governs the quality of these
graduates? Is LAN really doing a good job? We have had
universities mushrooming over the past 10 years, when
we only had 4-5 major universities for 30 years after
Merdeka. Yes, there has been "progress" people shout.
But it's not a numbers game that determines success in
the globalized world. Having 10000 graduates will not
mean a thing if they're unable to contribute and add
value. I'd rather have 1 Bill Gates (dropout) who can
create jobs for thousands of others (both graduates
and non-graduates) . We may actually need more
technicians than degree holders if we're to
remain
competitive.
Btw, this is not a Malaysian problem but one that also
faces countries like Taiwan. Too many universities,
too many graduates, too little quality. Worst of all
is the entitlement that these people have after
graduating with their 'paper'. All want easy jobs,
high pay. How can? Life doesn't work that way. PS: New
universities mushroomed in previous administration,
nothing to do with the current one.
LAST ADMINISTRATION was the worst administrator of the country's finances !!! 30 billion FOREX loss !!! KONSORTIUM PERKAPALAN BHD sold to PETRONAS without any tender whatsoever ( same Questions on sale of MV AGUSTA on this deal should be applied )
- Slowing GDP growth.
I'm no economist but no country grows forever, and
growth rates will tend to plateau after a number of
years of strong growth. It's also easier to grow at
the 'young' stage where you're growing from a low base
than it is to grow at a 'matured' stage. For example,
to get from 1B to 2B is 100% growth. But getting
additional 1B to add to the existing 2B (equal result
to previous) is only 50% growth. So mathematically we
cannot continue growing at this fast pace forever and
ever. Do note that our GDP would've dropped after
1997/1998 if the govt had not undergone a deficit
budget and pump-primed the economy. We've been
running
deficits ever since, and no nation can do that
forever. Worst case is all these projects are feeding
a few connected fat cats who get rich with shoddy
workmanship building highways/ schools/ Matrade
buildings/ etc and consuming our hard-earned taxpayers
monies.
- Sale of national assets to foreigners
This one is interesting. As a Malaysian I also think
that it is not in our interests to sell our key assets
to foreigners. But what makes an asset a key asset?
Private hospitals? I really don't think that Temasek
buying Pantai would really impact our security right?
Perhaps telecommunications, railways, waterworks
should not be sold off, I agree.
In any case, if we choose to play in the world economy
and want to enjoy the bounties of free market
capitalism then we have to take the bad with the good.
We cannot want TM to go buy assets in Indonesia and
India and expect to 'block' out Temasek from coming
into
Malaysia right? In any case, Digi is controlled
by Telenor (Norway) so why nobody makes a big noise
about that? Just because we are more suspicious of our
neighbours' intentions compared with orang putih?
Should ask the previous administration, who really sold PANTAI ??? KJ bought ECM LIBRA for only 9 million, the previous PM's sons got how many billions ???
My thoughts...
Rgds,
Alvin Yeoh
Penang
> What makeover?
>
> It's obvious that the author failed to (or
> purposedly opted not to) point
> out about the massive sale of national assets (GLC's
> shares) to foreigners
> particularly Temasek. Another thing the author
> didn't tell is, that the
> so-called "freedom of speech" echoed by the current
> administration is being
> effectively abused to create discomfort and incite
> racial/religious (this is
> spearheaded by IFC and 11th Article Group) hatred
> and distrust among
> Malaysians of different groups.
>
> Furthermore, about the cancellation/ postponement on
> the so-called
> mega-projects that costs Malaysia even MORE than if
> they are completed.
> This is in terms of huge compensations the
> government has to pay to the
> developers and the loss of revenue
prospects should
> the infrastructure
> projects proceed and complete.
>
> Moreover, the current administration should not ever
> paint a rosy picture of
> themselves for the massive investment for the
> electronics industry in Penang
> and Kedah. It was the previous administrations that
> worked hard lying the
> strong foundation to lure all the investments back
> then since 1972 when
> Intel delegates arrived at the lush paddy field of
> Bayan Lepas for the first
> time, identifying the site for their FIRST plant
> outside the US.
>
> Let alone on our ever-worsening key socio-economic
> indicators nowadays.
> -- Graduates unemployment hits history-record high.
> -- A measly GDP growth of 5.3% that is much lower
> than the average 15 years
> back (Malaysia has ever managed to surpass 7% even
> after the 1998 crisis).
> -- Crime
rate on the rise.
>
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