Najib Lords Over Public Accounts Committee?

The Public Accounts Committee (PAC) of the Parliament was one of the items I've been wanting to blog about for a few months now.

The role of the PAC is to scrutinise and monitor the utilisation of funds approved by the parliament for the use by the State. This will include any public entities and organisations, public accounts and any items which the PAC decides as fit for investigation.

The committee comprise of 13 members, of which currently, 5 are from the opposition, roughly reflecting the composition of the Parliament.

I've been appointed to the Committee since sometime in May, and I must say, there has been frequent meetings called to discuss various issues ranging from the issue of subsidies, abuse of VISA-on-arrival, illegal immigrants, performance of Khazanah companies, the Middle-Ring Road II maintenance fiasco etc. Items coming up include the Maybank BII deal, the Department of Registration (JPN) of Sabah (over denial of citizenship issue), the Telekom Malaysia RM12 billion contract and more. Frankly speaking, there are probably more issues than we can practically meet on, thanks to our Government for creating these controversies.

Due to the sensitive nature of these investigations, the independence of the PAC must be protected at all cost. Hence when Datuk Seri Najib Tun Razak said two days ago that "the cabinet had agreed that the Public Accounts Committee (PAC) scrutinise the acquisition of the Eurocopter EC725 helicopters to replace the ageing Nuri helicopters", I immediately issued a statement stating that such a statement makes a mockery of Malaysia's parliamentary system.

In addition, on behalf of the PAC, Najib said “the PAC would begin the process as soon as possible”.

As a member of the Parliament's PAC, while we welcome the Deputy Prime Minister's willingness to cooperate with the investigations, I find it a total mockery of the parliamentary process that any scrutiny by the PAC requires the “agreement” of the Cabinet. Worse, it appears as if Datuk Seri Najib had a major say in when the investigations can proceed.

The PAC made the decision to investigate the Eurocopter deal last Wednesday and it does not require the “approval” of the Deputy Prime Minister or his cabinet. The PAC is an independent institution of the Parliament set up to scrutinse the actions of the Government, including its cabinet and hence, any inference of subservience to the Cabinet is will be completely ludicrous and render the PAC incapacitated.

The Deputy Prime Minister and the Cabinet must respect the independence and integrity of the PAC. They must stop denigrating the Parliament and its institutions to tools of the Executive to achieve their own ends. In addition, they must cooperate fully with the PAC at all times, including if the Deputy Prime Minister himself, or members of his cabinet are called to be queried on various scandals which affects them or their Ministries.

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Better Mum or Dumb?

This piece of parliamentary interaction (Hansard Pages 64/65), which I thought quite amusing, happened last Thursday while Azmin Ali [PKR-GOMBAK] had his turn debating the 2009 Budget, and was emphasizing on the fact that the budget is already rendered irrelevant due to the changes in the global economic circumstances.

Dato' Abd Rahman Dahlan [BN-KOTA BELUD] was eager and anxious to interject GOMBAK a few times, and was finally given permission by the latter.

[KOTA BELUD]: Terima kasih Tuan Yang di-Pertua, terima kasih Yang Berhormat Gombak. Tadi pada mula perbahasan Yang Berhormat Gombak ada mengatakan bahawa pihak pembangkang menuntut Menteri Kewangan yang baru untuk membentangkan bajet yang baru berdasarkan keadaan ekonomi semasa dunia. Saya ingin hendak tanya kepada Yang Berhormat Gombak pada tahun 1998, pada waktu itu Ketua Pembangkang yang berangan-angan menjadi Perdana Menteri sekarang ini adalah Menteri Kewangan. Pada waktu itu situasi ekonomi dunia juga meruncing seperti sekarang ini.

Saya hendak tanya kepada Yang Berhormat Gombak, Ketua Whip yang berangan-angan menjadi Menteri Kewangan kononnya. Pada waktu itu beliau adalah setiausaha sulit kepada Menteri Kewangan tetapi pada waktu itu saya tidak teringat walau saya tahu pada waktu itu Menteri Kewangan yang Ketua Pembangkang sekarang ini tidak membentangkan bajet alternatif walaupun pada waktu itu ekonomi dunia merudum dan pasaran saham jatuh, kadar faedah melonjak angkara Ketua Pembangkang menaikkan interest rate. Pada waktu itu Kementerian Kewangan, Menteri Kewangan yang bertanggungjawab tidak membentangkan bajet alternatif. Ini adalah satu hipokrit, satu putar belit, lidah bercabang, talam dua muka. Tolong jawab.

And rightly so, GOMBAK went straight for the “kill”:

[GOMBAK]: Tuan Yang di-Pertua saya gembira kerana memberi laluan kepada Yang Berhormat Kota Belud sebab kalau dia tidak bercakap tidak nampak dia tidak cerdik. Akan tetapi bila dia buka sahaja mulut nampak kedangkalan dan kejahilan seorang pemimpin UMNO. Apa yang berlaku tahun 1997, 1998 boleh check rekod dalam Dewan Rakyat. Dalam menangani krisis kewangan pada ketika itu Menteri Kewangan membentangkan dua kali revised bajet dalam Dewan Rakyat. Masa itu dia budak hingusan di Sabah sahaja dia tidak tahu.

And I couldn't resist adding further:

[PETALING JAYA UTARA]: Terima kasih Yang Berhormat Gombak.

Adakah benar bahawa pada tahun 1997 pada masa itu kita tidak ada pergerakan harga minyak seperti pergerakan yang kita tengok hari ini. Di mana harga USD140 se barrel turun kepada USD70 . Pada masa itu harga minyak adalah hanya antara USD12 dan USD15 sahaja. Pada masa itu hasil negara kita, hasil kerajaan negara kita tidak rely kepada hasil daripada Petronas kita tidak hanya lebih kurang 10% sahaja. Tidak macam hari ini di mana Petronas sumbangannya lebih kurang 46.4% daripada kesemua hasil negara kita. So situasi sudah tidak sama. Tidak boleh gunakan isu 1997 untuk 2009. Terima kasih.

KOTA BELUD sank low in his chair after that, and not adding anything else during GOMBAK's 40 minute speech ;-)

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ISA: The Sword of Damocles

My second article for The NutGraph, the Sword of Damocles is now up.  It's about the threat of ISA that we opposition leaders faced, practically on a daily basis.  In fact, I remember quite a few times on my blogs, both on Education and here, where I've been "warned" by concerned readers to be careful with my comments because we have a ruthless and unjust government.

Was I concerned?  Not really.  But now with Teresa's arrest... possibly life will just be a little different.

I AM breathing a little easier now. Teresa Kok, Member of Parliament (MP) for Seputeh and state assemblyperson for Kinrara was arrested under the Internal Security Act (ISA) on 12 Sept 2008 for some fictitious crime. She was released after being detained for seven days, when the police found no basis for detaining her any longer. [...]

But for a few hours and days after her arrest, my heart was beating just a tad faster. In my line of work, the ISA is like the sword of Damocles hanging over the head, ready to drop at any time. For opposition politicians like me, we tend to ignore the fact that it's there. I personally take comfort in the fact that I'm not as big a fish as I'd like to think. [...]

Teresa's arrest, however, changed all that. It demonstrated that despite not having committed any crime, as long as there are parties that wish to frame you for "crimes" you never even committed, the threat of the ISA is real and immediate.

For the full article, check it out here.

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Gerakan Bravado

Recently, clearly still stunned from the outcome of the March 8th elections, minority parties in Barisan Nasional such as MCA, MIC and Gerakan are beginning to be more vocal, and offering more palatable soundbites.

For example, at the recently concluded Gerakan national conference, Gerakan president Tan Sri Dr Koh Tsu Koon today suggested that the "Barisan Nasional (BN) set up a special task force to review the Internal Security Act (ISA), Printing Presses and Publications Act and the Universities and University Colleges Act in order to strengthen the parliamentary democratic system."

He made it clear that his party was against all laws of detention without trial and called for their abolishment as one of the five resolutions on strengthening democracy and human rights passed at the national delegates (NDC) conference today.

There's no question about the statement above. As a responsible parliamentarian, it must be supported wholeheartedly.

The question then is, with all these "talk", what is Gerakan going to do about it?

Firstly, all UMNO leaders have shown total disregard to the comments made by the Gerakan President. I've not seen any, none who has not resigned from the cabinet positions anyway, Minister or UMNO leader who has come out to support, or even offer sympathy and empathy to the views presented by Tan Sri Koh Tsu Koon.

Tan Sri Koh himself, has even highlighted previously that "the party will review its role in the Barisan Nasional (BN). And if the review finds Gerakan no longer has a "meaningful" role in BN, then it would pull out of the coalition."

So, may I asked the honourable President, does Gerakan still have a meaningful role in Barisan Nasional? One would have expected a more sincere and sympathetic response from their UMNO masters, in the light of the damage in the last general elections, but no, absolutely none at all.

Secondly, will the lone representative from Gerakan among the backbenchers in Parliament, use the opportunities presented by the Budget as well as the subsequent DNA and UUCA bill debate to forcefully, without unnecessary and face-saving disclaimers, reject these bills. Will Gerakan exercise their so-called "louder conscience" in Parliament and vote accordingly? Or will they in my opinion, remain as empty vassals, and remain subservient to UMNO in perpetuity.

In the interest of Malaysia and Malaysians, I hope for the former, but in reality, as much as I'm reluctant to pass judgement prematurely, it is only likely to be the latter.

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Budget Deficit Target Under Threat

The Government's 2009 financial budget which had been highly aggressive with a record RM207.9 billion expenditure and overly optimistic in its revenue projection of RM176.2 billion will only lead the Government to fail to meet its budget deficit target for the 2nd year in a row.

For 2008, despite having projected a decline in budget deficit from 3.2% in 2007 to 3.1% in 2008, the Prime Minister has announced that the Government has failed to keep a lid on the deficit, which will balloon to 4.8% this year. This increase in deficit was despite an RM14.5 billion increase in revenue from the earlier projected RM147.1 billion, thanks largely to the substantial increase in oil prices in 2007/8.

For 2009, the Government has projected a 3.6% budget deficit. However, in the light of the global economic crisis triggered by the financial markets turmoil in the United States, it will no longer be possible for the deficit target to the maintained.

In the 2009 Budget, the Government has projected a substantial revenue contribution from the petroluem sector of RM75 billion, which will comprise 46.4% of the Government's total revenue. This record contribution from the sector is based solely on the assumption that the global crude oil prices remaining sky high, and the Malaysian crude, the Tapis blend will average US$125 per barrel for 2009.

Table: Revenue Contribution of petroluem sector
to the Government relative to price and output 2004-2009

(1)2008 budget estimate presented in 9/2007
(2)2008 revised budget estimated presented in 8/2008
Sources: Malaysia 2008/9, 2007/8 Economic Reports; Petronas Annual Report 2007/8

However, with the global recession and curtailed economic demand, global oil prices have fallen dramatically, with the Tapis blend now costing under US$100 per barrel. With nearly all analyst agreeing with a bleak 2009, it is now anticipated that oil prices may fall further.

The more than 20% fall in crude oil prices will have a major impact on the Government's revenue. We anticipate that at US$100 per barrel of Tapis blend, the Government will lose an estimated RM14 billion in expected revenue from the sector.

Without a any reduction in the Government's planned record expenditure, this will mean a massive increase in the Government's budget deficit to a precarious 5.4%, from its projected 3.6%.

Aside from the Petroluem income tax, the Government has also projected a RM3.3 billion or a 6.7% increase in personal, cooperatives and corporate income tax revenues despite a cut in corporate tax rate by 1%, adjustments to lower personal income taxes as well as the global economic slowdown. The government has also estimated the crude palm oil (CPO) price to average RM3,000 per barrel in 2009 although it has already dropped to less than RM1,800 today. This will only mean substantially lower profits for the Malaysian plantation companies. Any threat to these tax collections will hence further undermine the Government's ability to maintain its fiscal prudence.

As the Parliament will commence its debate on the 2009 Financial Budget from Monday next week onwards, the new Minister of Finance, Datuk Seri Najib Abdul Razak should table a new, revised and improved financial budget in parliament. This is especially required in the significant events which had occurred since the former Finance Minister had presented it in Parliament on 29th August, including the collapse of the global financial markets as well as commodity prices.

As part of the “new” budget, the new Minister, as his first task in Parliament to slash operational expenditure which has exploded in recent years under Abdullah Ahmad Badawi's administration, from RM80.5 billion in 2004 to RM154.2 billion in 2009, or by 91.6%.

In the light of the volatile economic circumstances, Datuk Seri Najib must not only spew rhetoric about Malaysia's sound economic fundamentals and be in denial about the economic fallout which is about to hit us very hard, but instead take action and demonstrate his ability to soundly managing the country's financials to reassure investors and return the loss of confidence in Malaysia's economy.

Otherwise, the failure to even defend the budget deficit in his first year as the Minister of Finance will seriously erase any credibility he may have in managing Malaysia's economy.

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New Economic Advisor @ DAP

There's a new economic advisor to DAP secretary-general in town. It's a position I've held for the past 18 months helping the party boss and DAP itself with economic policy-making. Well, in the light of the developments over the past 6 months since elections - the fact that I've been elected an MP, and am also now the DAP National Publicity Secretary - it's time for new blood to take over ;-)

Let me then introduce to you our latest "catch", Teh Chi-Chang.

Chi-Chang, 37, was the Director, Head of Malaysia Equity Research before being promoted to the Director for Utilities and Media, Asia-Pacific Equity Research at Citibank Investment Research, his last held position.

Prior to his experience at Citibank, he was the Executive Director cum Head of Research at Hwang-DBS Vickers Research in the country.

He received his MBA from Cambridge University in 2002, is a certified Chartered Financial Analyst (CFA) and graduated with a first-class honours degree from University of Warwick in Accounting & Financial Analysis in 1993.

His introduction in his new blog states that:

I decided it was time to put more "life" into the work-life balance and give back to society after 14 years in the equity investment world. I have been lucky - I have had to work very hard but scholarships and good jobs have come my way. It is my dream that all Malaysians will have the opportunity to develop to their fullest potentials. My contribution to realising that dream is sharing my economic and investment expertise with those working to make a difference.

Hence my decision to sign up as Economic Advisor to DAP Secretary-General and Penang Chief Minister Lim Guan Eng. Reasoned debate backed by sharp analysis and incisive critiques will make for better decisions and a thriving nation. And I hope my actions will inspire other Malaysians to also join in and share their talents.

His credentials are certainly impeccable and I'm certain that he will contribute greatly to DAP's policy-making credentials and competence in the months and years to come.

He blogs @ Analyst At Large, and he has also written on why he has decided to join DAP. Once again, a very very big welcome! ;-)

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MIC Makan Padi

I had to chuckle when I saw this translated report from the Tamil press in the Star today. It was said that:

The MIC will continue to monitor the development of Tamil schools in the country and extend its help in their growth.

...the MIC, through its president Datuk Seri S. Samy Vellu, was looking into the development of all Tamil schools in the country and also ensuring speedier action in rebuilding them.

Umm... yes, they'll certainly keep watch to look out for land allocated for Tamil schools by developers, which can be alienated to MIC, oops, or is it to Samy Vellu?

Can you trust them to look after your padi?

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Sightings in Beijing (I)

The imposing presence of this ancient incense-burning pot
@ Hongluo Temple in the outskirts of Beijing

Guarding the Supreme Harmony Gate (Taihemen) @ the Forbidden City

While these pair guards the Heavenly Purity Gate (Chaoqingmen) @ the Forbidden City

Let's learn the pose in preparation for 916... oh, are we too late? ;-)

The imposing 15th century Arrow Gates of Qianmen of the Ming Dynasty inner city walls
overlooking the newly renovated heritage street along Qianmen Dalu

The Temple of Heaven Park was a hive of exercise and activities in the morning

Early morning Chinese Chess @ the Temple of Heaven

Musical basking galore all over the Temple of Heaven park

The Red Gates with Lion knobs stands between
all who enters and exits in Imperial China


The Olympic Badminton Drum outside the Temple of Heaven

年年有余 - As literal as you can get ;-)

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Visit Raja Petra for Raya

Fancy making a trip to Kamunting to convey Raya greetings?

Bukit Bendera Parlimentary Liaison Committee along with several Penang-based civil society activists, are planning a drive to the Kamunting Detention Centre in Taiping on the second day of Raya to convey their greetings to the ISA detainees:

Flowers, cards and gifts, if any, will be passed on to Raja Petra and the other ISA detainees to let them know that they are not forgotten on this special day. RPK's wife Marina has been informed of the event and she will be there to join us. The Press will also be invited for this event.

Date: Thursday, 2 October 2008

Meeting Places: 

(1) DAP Bukit Bendera Service Centre, Wayton Court, Penang (9.00am)

(2) Tesco, Penang (9.15am)

Dress code: Black

We shall begin our journey latest by 9.30am and arrive at the Kamunting Detention Centre by 11.00am latest. Here, we shall link up with those from other places like Taiping and and other parts of Perak. 

Those interested, please register or inform our committee member Mr Ronnie Tan at 012-4277883 

For those folks that are coming from KL, Mr. Sunil had volunteered to coordinate / assist in whatever way he can.  He can be contacted @ 012-2537206

I will not be able to make this trip, but I'll be planning another to Kamunting soon enough. Have a good trip!

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New US$1 Note

Will get back into the rhythm of writing soon. 

In the meantime, our new finance minister tries his best to convince the markets that our economy is sound and unaffected by the global economic turbulence.

The big question is, how much are our hard earned cash from EPF, Khazanah and other government investment vehicles going into the stock market at this point of time to support the Bursa index?

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Making It Big

Thanks to a friend who forwarded me this blog post, I now know who Adam Khoo is. He actually wrote this post actually a full 2 years back, but I certainly thought that it's will remain extremely relevant particularly to those who seek to build a business or are in the midst of building one.

Adam Khoo is a self-made millionaire in Singapore by the age of 26, and is now "the Executive Chairman and Chief Master Trainer of Adam Khoo Learning Technologies Group Pte Ltd and a director of seven other private companies. Adam is also a director of the Singapore Health Promotion Board (HPB)." His latest post is with regards to "why he loves stock market crashes" which is certainly something useful to ponder over. I certainly believe that over one's lifetime, you just need 3 stock market crashes to make it big in terms of wealth - while at the same time not let greed blind you.

But this post isn't about the stock market. It's about "making it big", like Adam Khoo. He wrote that...

...recently, someone came up to me on a plane to KL and looked rather shocked. He asked, ‘How come a millionaire like you is travelling economy?’ My reply was, ‘That’s why I am a millionaire.’ He still looked pretty confused. This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book ‘Secrets of Self Made Millionaires’). Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex etc… (I shop at G2000 by the way) and sit on first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one.

...I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money.

Does that then make him a miserly miser? ‘What is the point in making so much money if you don’t enjoy it?’

The thing is that I don’t really find happiness in buying branded clothes, jewelry or sitting first class. Even if buying something makes me happy it is only for a while… it does not last. material happiness never lasts, it just give you a quick fix...

Instead, what make ME happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see by companies and trainers reaching more and more people every year in so many more countries...

I think the point I want to put across is that happiness must come from doing your life’s work (be in teaching, building homes, designing, trading, winning tournaments etc…) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life no better than a prostitute.

His philosophy certainly resonates with me, and although I never made it as big or as fast as he obviously did, I share most if not all of his views on the post. And clearly, you don't have to be the Penang Chief Minister to fly economy. (This is however, not a plug for Adam Khoo's books and training - make your own informed decisions on that one ;-))

So for you young people out there with dreams of a bright (and well to do) future, remember to take a leaf of Adam Khoo. ;-)

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Away in Beijing

I'm will be in Beijing til the weekend, mostly on holiday with the family with some investment meetings thrown in on the side. So I won't be as active blogging this week ;-)

And gentle reminder to all golf enthusiasts, the DAP Damansara-Subang Jaya inaugural golf tournament will be held on 28th September, this Sunday at 1pm at Kinrara Golf Club. Please send in your forms soon!

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Forum: Abolish ISA!

Free RPK, Free Hindraf 5, Free All Detainees!

The Internal Security Act under Article 149 of the Malaysian Constitution permits the detention, at the discretion of the Home Minister, without charge or trial of any person in respect of whom the Home Minister was satisfied that such detention was necessary.

A week ago, we have witnessed yet again, the abuse of the ISA in the case of the detention of Raja Petra Kamarudin – Editor of Malaysia Today, Tan Hoon Cheng - Journalist, Sin Chew Jit Poh and Teresa Kok Suh Sim - Member of Parliament, Seputeh.

To demonstrate stand on the abolishment of the ISA and to show our solidarity and support with all ISA detainees and their families, we are organising a forum with invited speakers with details as follows:

Date: 23 Sep 2008 (Tue)
Time: 8:00 pm
Venue: KL & Selangor Chinese Assembly Hall, Jln Maharajalela, Kuala Lumpur
Admission is Free; Bring Friends

The panel of Distinguished Speakers include:

• Lim Guan Eng, Penang Chief Minister, DAP MP Bagan, ADUN Air Itam
  
• Teresa Kok, Selangor State Exco, DAP MP Seputeh/ADUN Kinrara
  
• A. Sivanesan, Perak State Exco, DAP ADUN Sungkai
  
• Khalid Samad, PAS MP Shah Alam
• Nurul Izzah binti Anwar, PKR MP Lembah Pantai
• Datuk Ambiga Sreenevasan, Bar Council President
• Syed Ibrahim Syed Noh, Chairman of Gerakan Mansuhkan ISA (GMI)

Moderator: Teo Nie Ching, DAP MP Serdang

The wives of some of the current ISA detainees, Raja Petra Kamaruddin, M Manoharan (DAP ADUN Kota Alam Shah) and V Ganabathirao will be present and be given an opportunity to speak. We should all be there to give the all the moral support we can! Forward to all your friends!

Abolish ISA or Abolish BN!

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Teresa Hits The Ground Running

Modelling "Free Teresa, Abolish ISA!" Limited Edition T-Shirts ;-)

She didn't waste too much time on pleasantries. Neither did she spend any time moping about her 7 days under solitary confinement. She went straight on the offensive - challenging the Government to provide a satisfactory explanation for her detention, taking actions to sue Dr Mohd Khir Toyo and Utusan Malaysia for criminal defamation and against the Federal Government for unlawful detention. Already, she's booked for 3 engagements this evening, and it's only going to get even more (thanks to Barisan Nasional).

Utusan Malaysia had the cheek to ask if Teresa Kok will be willing to take the lie detector test. They have forgotten that the onus of proof lies not with the victim but with the accuser, and in this case, it should be ask if Zaini Hussain of Utusan Malaysia and Dr Mohd Khir Toyo are the ones willing to take the lie detector test to prove their claims! (In fact I won't be surprised if the malicious Utusan Malaysia headlines tomorrow says "Teresa Enggan Mengambil Ujian Kesan Pembohongan".)

In the mean time, we celebrate Teresa's release from ISA detention. But the fight will go on to abolish ISA, and ensure that all other detainees including Raja Petra, Hindraf 5 will get released immediately.

There will be an anti-ISA forum on Tuesday (23/9) evening 8pm @ KL Selangor Chinese Assembly Hall. Speakers include Lim Guan Eng, Teresa Kok, Khalid Samad (PAS), Nurul Izzah Anwar (PKR), Ambiga Sreenevasan (Bar Council), Syed Ibrahim Syed Noh (GMI) and A Sivanesan. More details soon.

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Living It Up

courtesy of thenutgraph.com

Hey, an article I wrote for The Nut Graph finally got published! ;-)

I was told to be more personal in approach, so my first article "Living It Up" took a snapshot of my typical weekend nowadays, sometimes better, sometimes worse.

After reading the post, "you would understand the absolute need to be disciplined when it comes to the number of appointments I accept; otherwise, it would never end. Not only would my role as an MP be compromised by insufficient research and attention — I also wouldn’t get to spend precious moments with my family, who are my pillars of support.

And the discipline must be kept regardless of how demanding certain voters may be to secure “face time”. It has barely been six months since the general election, yet already there are those who complain they haven’t seen me around. There are more than 76,000 voters in my constituency, and if all of them expect me to go around meeting people with the same frequency as I did during the campaign period, it would certainly defeat the purpose of electing an MP in the first place.

It’s a case of working hard and working smart, to ensure that I can make a real impact in the constituency as an MP."

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