Mahathir has to accept defeat

Samurai bonds not the only way to raise funds, economist tells govt

PETALING JAYA: An economist has urged Putrajaya to explore other options for raising funds following reports that the government is considering a second offer of Samurai bonds from Japan.

Speaking to FMT, Yeah Kim Leng said such options include monetising assets and selling off stakes in government-linked companies (GLCs) operating in areas where there are sufficient private sector investors.
He was commenting on Prime Minister Dr Mahathir Mohamad’s remarks yesterday that the government is studying another offer for Samurai bond as Japan is making a “very cheap” loan available.
While local bonds may be a more prudent option, he added, monetising assets or selling off stakes in GLCs is more ideal.
“In short, avoid debt, and if (that is) not feasible, borrow in our own currency unless there are strategic reasons to take foreign currency loans,” the Sunway University Business School economics professor said.
He said assets like airports and ports could be sold in the form of real estate investment trusts.
“Government holdings of GLC shares across various sectors such as finance, industrials, healthcare and education can be offloaded to increase private sector participation,” he added.
Abu Sofian Yaacob, an economics lecturer at the Putra School of Business in Universiti Putra Malaysia, agreed that local bonds are a better option than Samurai bonds as they involve almost no risk and cost nearly the same, if hedging is taken into account.
Putrajaya previously said it might consider issuing another Samurai bond if it could get rates similar to the 0.63% in the earlier issuance of 200 billion yen, although this was without a currency swap, a form of hedging.
Finance Minister Lim Guan Eng said the cost of the bond after a currency swap would be close to 4%, similar to that of Malaysian Government Securities.
He told FMT that alternatively, the government could look into plugging any existing tax gaps, review its budget and carry out more collaborations with the private sector to ease the pressure on its finances.
“But eventually, the government will still have to borrow money either locally or abroad.”
Abu said there were concerns which the government should address before opting for another Samurai bond, including why Japan is offering Malaysia loans at such low rates.
“Is there a quid pro quo, where in return Japan will be able to acquire strategic Malaysian assets such as Khazanah Nasional’s stake in IHH Healthcare?”
Yeah said while interest rates are inching to “near zero” in some advanced countries, bonds must be cost-effective after the inclusion of hedging costs.
Robin Augustin
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A homemaker like me can bring in US$50 Billion investment into Malaysia.  Yet the Prime Minister of Malaysia, Daim and the cock sucker of Malaysia cannot do that.  Instead they go around selling our assets and borrowing money from Brunei, Turkey, Singapore, Vietnam and Japan.
I already mentioned that as long as Mahathir remain as the Prime Minister, no investor will want to step into Malaysia.
Mahathir has to accept defeat and quit.
Using PDRM, MACC, AG, threat, money, race and religion to shut the truth no longer work.
Image result for images of malaysian police with gun

Old man has lost it

http://malaysiaflipflop.blogspot.com/2019/04/mahathir-must-get-rid-of-rejected-ones.html

A country need capable leaders with foresight to develop.
No country that runs on race and religion ever develop.
Malaysia will remain a backward Nation as long as we have a leader who love to gamble with race and religion all the time.
Old man had groomed thieves, murderers and scammers because they have common interest.
All the tactics of the past are being used again today.
The lies and stealing continue.
Policies remain the same forgetting the present and future are moving faster than the bullet train.
SST has never worked for any country but here we return to it to serve only one race and the elite while the minority pays for everything.
The reason why PH government cannot work:
1.       People in the Cabinet knows Mahathir cannot live long, so it is better to grab all the opportunities in hand now.
2.       People in the Cabinet work for themselves, family members and friends.
3.       People in the Cabinet has no foresight.
4.       People in the Cabinet are star strike with first class treatment.
5.       People in the Cabinet are easily influence by not having to pay a single sen for their daily use.
6.       People in the Cabinet knows their position can open many opportunities.
7.       People in the Cabinet are bewitched by their own words and command that can influence the Rakyat and Royalty.
8.       People in the Cabinet believe they are untouchable.
9.       People in the Cabinet believe they have the right to insult, mock and use the Rakyat.
10.   People in the Cabinet think their position and power will last forever.
OLD POLICY NO LONGER WORK
OLD IDEAS THAT DIED CENTURY AGO CANNOT BE BROUGHT BACK ALIVE.
OLD SCAM AND LIES NO LONGER STAND.
OLD MAN SHOULD ACCEPT DEFEAT WITH DIGNITY.
OLD MAN SHOULD ACCEPT HIS PRESENCE IS THE REASON WHY US$600 BILLION LEFT AND INVESTORS NO LONGER WANT TO BE IN MALAYSIA.
OLD MAN SHOULD ACCEPT RACE AND RELIGION NO LONGER NEEDED IN MALAYSIA.
TODAY ALL MALAYSIANS SHOULD ACCEPT PH GOVERNMENT IS WORKING FOR THEMSELVES FOR THE GOOD PAY, BENEFITS AND POWER TO ALL CONTRACTS AND ASSETS OF THIS NATION.
IT IS THE BEST TIME TO GRAB AND GRAB BEFORE THE COMING OF NEXT PRIME MINISTER AND GE 15.

The Final Frontier for HK Protests

I totally agree with famed economist Andy Xie. He basically concluded that HK’s property tycoons were the real source for most of the discontent in HK youths.

 Civil unrest in Hong Kong stems in part from stratospheric housing prices that have locked many residents out of the market, says independent economist Andy Xie. 

 Hong Kong property prices have risen over 300% since 2003. Beijing needs to stop consulting with property “tycoons” and take away their political power, Xie says. 

 How difficult is it to follow Singapore’s HDB model? Lee Kuan Yew knew back then that the citizens needed to own a place to feel that they belonged. Only when they belonged would they take on real roots and work for the betterment of society and country. Why can’t HK do that? 

Well because of the enormous influence and wealth of the top 4-6 property tycoons. When they got rich early on, back in the 60s-70s, the top few fellas knew each other very well and it would be not far from the truth that they sometimes acted collusively in bidding wars. It was way back then that they all bought as much land as they could, knowing full well that HK was a small place and if you wanted to continue to be in property, you needed to do a lot of land banking. 

Maybe their intentions weren’t bad in the first place but as HK progresses, it became clear that they held the spigot to the release of land for development, alongside with the HK government. With each yearly release you will not find the top 4 bidding against each other, but rather one of the top 4 will end up with the winning bid, almost certainly a higher bid than previous year. Thus helping to lift all property valuations and especially their land bank. 

In Singapore, the government owns most of the land, and thus can make a conscious effort for public housing. In HK, the tycoons hold the bulk of land bank that matters. So much so that when Beijing were setting up the legislature Legco, top HK property tycoons were the beacons of influence. It would not be far from the truth to say the Legco is beholden to the tycoons in more ways than we care to think. 

 Recently, Peter Woo of Wheelock and Wharf Holdings, Victor Li Tzar-kuoi of CK Hutchison, Peter Lee Ka-kit of Henderson Land Development, Raymond Kwok Ping-luen of Sun Hung Kai Properties and Henry Cheng Kar-shun of New World Development – issued a joint petition to newspapers last Sunday calling on the public to stop all illegal protests and violent acts to allow stability to return to Hong Kong. It was a galling move and they might not even realise it but it will attract and heighten the animosity against the rich landlords.

But isn’t it difficult to “control the land bank flow”, after all certainly the HK government owns more land than the tycoons??!! Well, there are many ways to skin a cat. Did you know that 69% of land in HK have been gazetted as protected greens. Altruistic, fantastical urban planning … or another way to restrict available land over the years?

What good is protected greens when the population is underserved in so many basic facilities??!!

https://www.scmp.com/comment/opinion/article/3023639/singapore-calm-while-hong-kong-boils-and-its-down-citys-greedy

The government-appointed Task Force on Land Supply has pinpointed Hong Kong’s housing needs. The future looks grim. More than 250,000 people are waiting for public housing while many ageing housing blocks need to be replaced. Meanwhile, the population is expected to reach nine million by 2030 . … The task force reported a land shortfall of some 1,200 hectares, 800 hectares of which are urgently needed. So, the government chooses to build an artificial island off Lantau!

Does Hong Kong need it? Expeditious development of six new development areas in the New Territories would provide 2,500 hectares. Let us not forget the 1,300 hectares of brownfield land; expensive to patch together but much cheaper than building an island. Add to that the 1,000 hectares of farmland and enough acreage for housing to start to emerge. And, do not overlook the massive acreage developers are sitting on…..

Henderson Land Development has a land bank of 650 hectares, Sun Hung Kai Properties holds more than 440 hectares, and New World Development has banked around 250 hectares. They should use it or lose it.

  • Almost every single thing that caused the discontent (besides the tightening laws and regulations from Beijing) can be traced back to the land banking and tycoons control in HK: the prices they pay for property; the rentals and subsequent goods and services to be borne by the public; the stifling rental rates that crimps entrepreneurship owing to ridiculous start up costs … If you can’t forge a way for yourself (being an entrepreneur), you are forever stuck in the brilliant cycle of paying homage and earnings to the landlords. You really are forever working for the man.

  • Go spend hundreds of thousands for your education and you get sucked into this life sucking ferris wheel of greed where you are forever chasing an every rising target in terms of owning your property. And if you somehow got one, it will have a mortgage so high, you end up working your whole life to pay it off.
  • Solution: release more land for public housing; speed up public housing by 3-4x; this will cause a correction to private housing but it is a good price to pay… but you can already see how the decision makers’ wealth are so tied to property that they would never be able to do that.

    • Beware of Rina Harun

    https://newmalaysiatimes.com/2018/10/16/i-can-work-better-as-a-dato-seri/
    For the past one year while everyone goes after Black Shoe Minister and Zakir Naik, Rina has been busy siphoning out our assets to proxies for the old man.
    So it will not be a surprise Rina will be the new Economic Minister.
    Meanwhile those jumping for joy for Zuraida to take over Rina’s Ministry should be more careful what they wish for.  Zuraida will be the next scapegoat for the missing assets.
    There are two possibility now for the old man.
    Prepare Rina for PM 8.
    Prepare Mustapha for DPM.
    Image result for images of rina harun
    IF YOU THINK ROSMAH WAS BAD, WAIT UNTIL RINA SITS ON THE THRONE.
    SHE WILL FLATTEN MUKHRIZ.

    S.L.O.W.


    I think many of you will identify with this post. I was away for nearly 2 weeks and my dog Dali was at my groomer’s. Mind you I have been at the same groomer for over 9 years. Plus she has a number of cats and dogs as well under her care. I never had any problems before. 

    When I picked her up, she had been chasing cats at her ripe old age of nearly 11. I was disheartened to see her limping towards me when I picked her up. I know how old she was, she was already limping a little when I left her at the groomer. Now she was nearly dragging her feet.


    It was heartbreaking, to say the least. My good groomer has put her on a diet for the last few days owing to her joints/arthritis problem. She looked forlorn and like a reluctant Weight Watchers candidate finishing her ordeal.

    I guess the reason why pet owners feel so attached to their pets is that they have “no one else to depend on”. If you chose to have a pet, that is your responsibility. Like a petulant child, there will be times you want to just give up that petulant child. Once you get past that, you realize that their happiness and sorrows are directly correlated to you. They literally have no one else. No distant relatives to call, no country to migrate to.

    What is more galling is the fact that your pets have a short term memory, or rather, a very forgiving nature. You can be angry at them one day, and they will forget about it soon enough. Next day when you are still fuming, they will greet you as if nothing has happened. Who does that? Which human can do that?

    Their magnanimous character causes us to rethink our own limited self, our selfish ways. Why we are sometimes NOT FIT to be even a dog. The death of a pet can hurt as much as the loss of a close relative or friend. It is common for humans to have conflicts with family members over religion, money, politics, relationship strains and so forth—conflicts that may create emotional distance between them. Humans and pets do not have these types of conflicts—pets are 100 percent dependent on their human companion.


    IT’S JUST A DOG …

    Never has something so wrong been uttered. If you ever have had a pet, that is smackable. 


    Now, that is not the real focus of this posting. I was on a 12 day trip to Sydney with my mum, who will be 80 next year. I might not win the best son award but I pass with 70/100 I think. Every other year I will take my mum somewhere. My other siblings will do likewise. 

    My dog’s situation led me to reconsider my relations with my mum. As she lives in Ipoh (and me in KL), I do not see her often enough. I realized that as much as I try to be patient, I am a lot less patient with my mum. 

    The KLIA2 walk from immigration gates to departure gates is a lot like a half marathon. I think I asked her to hurry up twice, it soon dawned upon me that that may be as fast as she can walk nowadays.

    She has never dared to use the automatic scanning gates even though her passport allows her to do so. I forced her to use the automatic gates when we arrived back from Sydney. I said the instructions on the TV screen were clear.

    I kid you not, she wrongly entered her passport 5 times. I was exasperated after the third time. I said look at the screen, it was so clear the instructions. No use. I had to do it manually for her. She said, she doesn’t know why she could not comprehend the instructions on the screen. My exasperation was not so much anger but rather the realisation that my mum is getting old. My exasperation was tinged with a lot of desperation.

    MUM & DALI

    My mum and Dali are both getting very old. I guess we will all go through these stages. It is not fun … but it is necessary. Love has to come hand in hand with responsibility. I don;t know why my tears are rolling down my cheeks as I am writing this.



    p/s Dali is well after some painkiller, and her diet will have glucosamine and fish oil every day from now on…

    The Most Powerful Man In Malaysia is BATANG NAIK SENDIRI

    People think the most powerful man is the Prime Minister.
    People think the most powerful man is the Agong.
    People think the most powerful nut is Hadi.
    People think the most powerful cock sucker is Azmin Ali.
    EVERYONE NOT THINKING.
    ZAKIR NAIK A FOREIGNER CAN EASILY TAKE OVER THIS NATION WITHOUT A SWEAT.
    LOOK AT THE VIDEO.

    IF I AM ONE OF THE ABOVE, I WOULD BE WETTING MYSELF.
    WITHIN A SHORT TIME OF TWO YEARS, ZAKIR NAIK HAS BECOME THE MOST POWERFUL CREATURE TO WALK OVER THE PRIME MINISTER, AGONG, HADI AND COCK SUCKER.  ME THINK IT IS GAME OVER FOR BERSATU, AMANAH, DAP, PKR, PAS AND UMNO.
    THE NEW PARTY TO TAKE OVER MALAYSIA WILL BE BATANG NAIK SENDIRI.

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