Dynastic Powers In Asian Politics


I guess the headline is pretty clear as to what I am on about. Sure, it happens in other jurisdictions as well, even in developed countries with a heightened sense of democracy. However, it is surely more palpable in Asia. The pictorial by Nikkei Review hits the nail on the proverbial head.


Many people argue that political dynasties affect the legitimacy of democracy and the quality of government policies as dynastic politicians have incentives to implement policies that will increase their advantage and guarantee the perpetuation of power.  Naturally, it is dangerous to generalize as I am sure every dynastic successor will consider theirs as an exception to the rule. That they are deserving to be there.

IF the said country is riddled with weak regulatory institutions, IF the said country has a weak definition of the three independent pillars of governance – the executive, legislative and judicial – then what follows will most likely be patronage, corruption and outsized efforts (sometimes illegal and unfair) to stay in power.

Outsized efforts to stay in power (sometimes illegal and unfair) stems largely from the belief that they do not deserve to be there.

But why is this more prevalent in Asia? Stronger familial values? Is our mindset more tuned to the pervasive influence and privilege attached to ‘successful families’?

This is not to say all political family dynasties are inherently poor choices. We have to be careful that new appointees are deserving and elected in a democratic environment. Politics is a tough game. What we have to avoid is political families needing to keep political power going because they have done too many “things that cannot be brought to light”. Keeping it in the family or extended family is a sure way to keep the garbage in the bin. Or as they say, they cannot afford to be not re-elected.


Why Kamikaze Pilots Wear Helmets???


This was a great read. Its an economist who tries to be funny by answering interesting daily life questions and wonderings. The author is Robert Frank, the Professor of Management and Professor of Economics at Cornell University’s School of Management. Just look at the questions he tries to answer and you know its a good read already:

  • Why does a US$500 tuxedo rent for US$90 a day while a US$20,000 car rents for only US$40?
  • Why do female models earn so much more than male models?
  • Why might retailers deliberately hammer dents into their own appliances?
  • Why do the keypad buttons of drive-up cash machines have Braille dots?
  • Why are child safety seats required in cars but not in airplanes?
  • Why are whales, but not chickens, in danger of extinction?
  • Why is there a light in your refrigerator but not in your freezer?
  • Why do 24-hour convenience stores have locks on their doors?
  • Why are newspapers, but not soft drinks, sold in vending machines that allow customers to take more units than they paid for?
  • Why are brown eggs more expensive than white ones, even though the two types taste the same and have identical nutritional value?

My favourite chapter is in relationships where he tries to answer: why it is easier to find a partner when you already have one; and why are there so many dumb blonde jokes when research shows that attractive people are generally more intelligent than others, hence blondes should be considered as more intelligent as they are generally perceived to be more attractive. My other favourite topic was: Why did Kamikaze pilots wear helmets????

The Economic Naturalist (Why Economics Explains Almost Everything) by Robert H Frank
Virgin Books Publications (UK)

Basic Books (USA) 2007 / 2008

Where are all the voices?

I hereby salute Mahathir who cleverly put all the leaders of Amanah, DAP and PKR into remote silence after bribing them with Minister and Deputy Minister posts.

Today Mahathir has grabbed all the money generating companies under his armpit and no one is complaining even though it is morally wrong once again to ALLOW AN OLD EXPERIENCE CROOK START HIS STEALING IN BROAD DAYLIGHT.

Mahathir’s people have stolen US$16.91 billion, transferred all the profitable companies into Prime Minister’s department instead of Parliament, gave a big contract to his sons and now wants his sons to start another car factory to boast his ego.  Yet no-one from Amanah, DAP and PKR dare to protest. 

Today because of Minister and Deputy Minister posts everyone dare not open their bloody mouth to disturb their rice bowl.  Is holding Minister post that important than serving the people? Malaysians need better health care and alternative education system not a stupid car factory.

I BELIEVE IT IS TIME TO PUT A STOP TO ALL THIS NONSENSE BEFORE IT IS TOO LATE.

INSTEAD OF ENDING CORRUPTION, STEALING, MURDER AND CRONISM, MAHATHIR HAS RENEWED IT.
https://www.straitstimes.com/asia/se-asia/mahathir-sons-company-opcom-bags-telekom-malaysia-contract
https://www.malaysiakini.com/news/436144
https://paultan.org/2018/06/12/prime-minister-tun-mahathir-on-new-national-car-project/
https://www.straitstimes.com/asia/se-asia/a-closer-look-at-pakatan-harapans-manifesto-sin-chew-daily-columnist

Mahathir is no DemiGod

After GE14 many people are in cohort opinion that Mahathir is DemiGod.
My friends worship Mahathir for he is the only one who knows how to run this nation.  Whatever he does is right.  People still believe he is no longer the old Mahathir but a new man with an honest mission to save this nation. 
Mahathir had only changed in appearance but his goal is to ensure his children escape from bankruptcy and become billionaire once more.  Mahathir and Daim must be the luckiest father in the world whereby their children can become bankrupt not once but several times and each time heaven help them.  Somewhere along the many lives Mahathir and Daim were reborn to, they must have been monks to receive such grace from God.
GE14 PH won because the people had no other choice.  Everyone was fed up with Najib and Rosmah.  Had Najib stepped down just before GE14, UMNO would still be the king maker today.  For this we have to give thanks to greedy Najib and Rosmah. 

The ground work started by Anwar when he was kicked out from the UMNO government should be applaud.  For this one must admit that Invoke which was the brain child of Rafizi helped greatly.
Najib and Rosmah till today have not adjusted and still remain naive that Malaysia is theirs for the taking.
It is the Tun Razak’s curse and karma that Najib and his family members are shamed in public.  When one do wrong, one has to be punish for it.  Till today Najib and Rosmah have not apologize to us for their wrong doing, as such their children and grand-children will be made to share the shame in public in the future.
Mahathir’s karma was the shameful attack thrown at him and his family members before GE14.  But has Mahathir learnt from it.  The answer is NO.
Before 100 days is over US$16.91 billion was stolen and transferred out from Bank Negara to four foreign countries.  So who are the people responsible for this heist?  No one is asking this in parliament?  I do not expect much from UMNO or MCA politicians since they do not read or interested as their main concern is who will fill their rice bowl again.  But what about those loud mouth bloggers, activists and NGOs.  On one hand one scream why no action were taken against 1MDB or NFC or Felda but quiet as a mouse regarding the recent loss of US$16.91 billion.  If one were to multiple by 3.8 we are looking at RM64.26 billion loss to us but gain to the thieves.  
Mahathir knows, Daim knows, Zeti knows, Yakob knows, Bank Negara knows, MACC knows, PDRM knows, AG knows, Economists knows, in fact all bankers and the Jews know yet, Malaysians are too afraid to voice out.  WHY THE DOUBLE STANDARD?  We are talking and looking at New Malaysia but the stealing and corruption by new set mix with old thieves working hand in hand is now again a normal thing.  So we get rid of one set of crooks and replace them with old and new thieves.  
Malaysia Boleh indeed.

All Time Fav Albums










































Since I have nothing bullish or non-depressing to post, I shall post about my all time fav albums. When we were younger, the list would change every few months, but the list kinda stop when you turn 35. See if you

have similar taste in music, or else you can post your fav in the comments section and reasons why. A better headline would be the top albums that I would take with me if I was LOST on an island with a CD player. While redoing the list, I found that I could not keep it to ten, it had to be twelve, hence Countdown from number twelve:

12)Tanto Tempo by Bebel Gilberto – Daughter of the brilliant Joao Gilberto. This is Brazilian music jazzed up and highly seductive and hypnotic. Best album from Latin America for the last 10 years, if not longer.

11) Tapestry by Carole King – If I did not have balls, this would have easily rated higher. So many songs from this album became timeless classics, such as You’ve Got A Friend and Will You Still Love Me Tomorrow. Its a great snapshot of a singer-songwriter right at the very peak of musical genius.

10) The Grand Illusion by The Styx – Loud, commercial but melodic band with loud hairstyles. Their best album by far. Every song has its own merits and weaved into a proper album. Derided by many but this album can stand the test of time. Check out The 70s Show parody of The Styx.

9)December by George Winston – Takes a lot to listen to one fella playing one piano with no additional instrumentation. Feeling wistful, philosophical, or just a quiet night to reflect. His notes lift you up and touches your soul literally. The title track, though instrumental may make your tears well up. Really.

8)Winelight by Grover Washington Jr & Bill Withers – Best romantic jazz ever. Enough said.

7)Silk Degrees by Boz Scaggs – This man has a weakish voice but his songs were brilliant. Again, this album captures him at his musical genius peak. Songs like We Are All Alone, Harbour Lights and my favourite Love Look What You’ve Done To Me. Highly under-rated.

6)Bat Out of Hell by Meatloaf – Another album that needed to be heard in its entirety. May be too melodic and commercial to rock fans but its the anthem 70s album for good reasons. Songs like Heaven Can Wait, Two out of Three Ain’t Bad and the title track – how not to be a top favourite.

5)Night At The Opera by Queen – Considered by many to be Queen’s best album, but not to me, its the second best.

4)Rumours by Fleetwood Mac – Too much grass and alcohol can turn out really good music. This dysfunctional group at its best. Every song is a gem. This album is one of the reasons why the 60s and 70s were considered to be the best periods for popular music.

3)How Dare You by 10cc – Not many would select this album but its pure genius. You have to listen more than a few times to love it and then you are hooked for life. Its whimsical, very melodic and adventurous.

2)Year of The Cat by Al Stewart – Absolutely fantastic folk rock album by an Englishman, very under-rated.

1)Sheer Heart Attack by Queen – This will always be my top album. Its their raw talent at their finest. If you have a relative 35 and above buy him this for Christmas, if its an over 35 lady, cannot go wrong with Winelight or December.



Missing Out 

That’s the trouble with compilation lists. You feel bad that you left out a few which maybe deserve a place as your favourites. Here is a list of those albums that just missed out:

16 Lovers Lane by The Go-Betweens 
A New World Record by ELO
 
Soul Deep by Jimmy Barnes
 
The Nightfly by Donald Fagen
 
Hotel California by The Eagles


Surfing With The Alien by Joe Satriani
Very Best Roll Over by Chage & Aska

A Decade of Steely Dan by Steely Dan

Btw, aren’t those album covers wonderful art pieces, certainly stood the test of time.

Destination Guide – Ipoh by The Edge team






This weekend’s The Edge has a special destination guide to almost all n sundry in Ipoh. The lavish and ambitious 112 pager was read with much skepticism by yours truly. 

But as an out and out Ipoh person, the publication is the best I have seen as a travel guide. There are plenty of nuanced references n insights that only the locals would know. The art works were spectacular n nostalgic. Photos the same. 

Too important not to buy and keep.


This piece of artwork was so good in the details.




The watercolour depictions of Blue Mosque, HoYanHor bldg and Concubine Lane were exceptional.

Unfortunately, there was one mistake, a pretty big mistake … they put Cowan Street ayam tauge shop under “kaiseehorfun”. 

Once and for all, kshf is made using prawn head stock as soup, has prawn slices, chicken, horfun/meen and kauchoy. 

Ngachoykai has ngachoy and chicken with soy mix. You can have ngachoykai with any kind of noodles of rice even.

Below, a delectable snap of most of the popular Ipoh Chinese pastry snacks. Heartwarming and authetic.


Wanted: A One-Armed Economist

One of the funnier stories I heard was a politician who was asked what was the first thing he would do if elected. The politician replied, “I will hire a one-armed economist.”

I have always taken the piss out of economists. I did study the subject for two miserable years and if you take away the charts from economists, they would not have anything to talk about. Think about it!!! They always need to draw a chart.

A normal economist prediction would go something like this: ” I think the US equity markets may have more upside in store as the prospects of lower rates by the Federal Reserve is still intact, though it looks more like 4Q rather than 3Q. On the other hand, the whole lowering rates scenario will be blown out of the water if future housing starts figures continue to surprise on the upside”. Doesn’t that piss you off, that’s why we need only “one-armed economists” so that they cannot say “on the other hand…”


I mean, if you are going to be an analyst, fund manager, private banker, sales trader of calibre .. take a stand. Make value-add comments and stand by them. There are too many humdrum, me-too, l”et’s all amble along so that nobody knows how average I am” mentality.

Again, going back to my favorite definition of an economist: Someone who tells you why their previous prediction went awry.

Top Glove’s Troubled Acquisition

This has been well documented. The RM1.37bn purchase by Top Glove was completed only on April 4th this year. Secondly, the purchase was completed within 4 months.

PETALING JAYA: Top Glove Corp Bhd, whose shares tumbled as much as RM3.63 or 30% on Monday, said an investigation by an independent accounting firm showed that it overpaid RM640.5 million for the acquisition of Aspion Sdn Bhd.
Irregularities were discovered in certain balance sheet items of Aspion after it was taken over by Top Glove on April 4. Top Glove paid a whopping RM1.37 billion for Aspion.
“From the interim report given by the independent accounting firm, there is currently an overstatement of inventory, plant and machinery in Aspion’s accounts amounting to RM74.4 million. Further, the interim report also states that the acquisition price of Aspion was overstated by RM640.5 million. Therefore, the claim amount of RM714.9 million in the legal proceedings consists of the overstatement of assets and the overvaluation,” it told Bursa Malaysia on Monday.
Top Glove said, however, the litigation will not impact Aspion’s business operations, which will continue as usual. It also stressed that the group’s business operations remain resilient and scalable, with a healthy cashflow.
“Top Glove remains upbeat in terms of outlook. With the combined capabilities of Aspion, the group is confident of continued growth going forward. It recognises there will always be challenges in business and is focused on taking immediate steps to address the issues.”


There were glaring questions still not covered by the journalists.

Who were the advisors for Top Glove? 
What actually did they advised? 
Who did the due diligence? 
Was it a limited due diligence, if so, there should be clawback, e.g. staggered payments till full due diligence is done.
Why was full sum paid prior to a full due diligence?
Was it too rushed? 
If so, why the rush? 
Where was the board’s view in the scheme of things?
Were the advisors well versed with billion ringgit acquisitions? 
Where was the due diligence? 
Who were the accountants for the private company beforehand? 
How did they not qualify the financials before?

Challenge to PH Government for SST Forum

Malaysians are no longer stupid.
I believe it is time Malaysians should be given the right to a proper hearing before the implementation of SST.
Malaysians cannot continue to be ignored.
We voted for a better governing and we expect it.
From a collection of RM40 billion per year taxes to RM21 billion per year expected is not only unbelievable but no logic to it.
How then will the government find the balance RM19 billion to service the country?
Also under SST, cronies like Vincent Tan etc pays only 30% of their profit for taxation.
Malays, Indonesian and Bangla business will not pay a single sen tax.
So only a minority of the working class pay their due taxes.
Why must the minority take the burden?

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