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| MAS: Singapore-based FTX investors could not be protected |
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Posted by: superadmin - 11-22-2022, 08:20 AM - Forum: Business, Economy and Investment
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MAS: Singapore-based FTX investors could not be protected as crashed crypto exchange not licensed here, operated offshore
SINGAPORE, Nov 22 — The Monetary Authority of Singapore (MAS) said yesterday (November 21) that it could not protect local investors from suffering losses on cryptocurrency exchange FTX, which crashed earlier this month, as the platform is not licensed here and was run offshore.
MAS said this meant that investors could not be protected from financial losses by steps such as the ring-fencing of assets or ensuring that the platform had backed its assets with reserves.
The regulator also again warned investors of the dangers of investing in cryptocurrencies as it had done repeatedly in recent times.
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| YOURSAY | Can bitter foes come together for M’sia? |
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Posted by: superadmin - 11-22-2022, 08:11 AM - Forum: Politics
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MS: It is good that the rakyat are getting a compulsory and long overdue tutorial on realpolitik with its 50 shades of grey.
What used to be a clear-cut case of cowboys and Indians, of bad guys and good guys with the choice as obvious as black and white, is no more. We must get used to this new norm, which is not unlike moving around in masks even when the law imposes no such rule.
Now, after decades of being entrenched in our camps, when it was “two legs good, four legs bad”, it seems that they are all equally good or bad, or somewhere in between without the constraints of loyalty, ideology, or even common sense.
The big battle that awaits to be fought is one between a looming theocracy soaked in bigotry and every horror that entails, and a dysfunctional kleptocracy hobbling along with part-time reformists, repenting bigots and an assortment of activists and busybodies.
Yes, it is not a pretty picture, but it does reflect the sorry state of a badly fractured country being pulled in different directions by a confused population which does not know which way to go, who to back and why.
Donttokkok: I applaud Pakatan Harapan if its chairperson Anwar Ibrahim is named prime minister.
Harapan has made the right strategy in keeping silent since the results, whereas Perikatan Nasional chairperson Muhyiddin Yassin went around sourcing for support. This reminds me of Anwar doing the same thing after the 2013 general election. He had learnt from this costly lesson. One has to be prepared beforehand and have a Plan B as backup.
The rakyat are not asking BN and Harapan to love each other, just to come together for the long-term interests of the country. I see this as the best formula and solution. Harapan can help provide the resources to fix the mess, and BN the experience, stability, and assurance for the Malays.
Both parties can check and balance each other. They just have to go to the office, do their jobs, have lunch together... and sleep in separate beds after work.
Perak is a sterling example of the cooperation between BN and Harapan. They worked together to get rid of a common enemy - Perak Perikatan Nasional chief Ahmad Faizal Azumu, the non-performing menteri besar. That is proof enough of a workable relationship.
This can also work in favour of BN for Pahang where an Umno menteri besar is more favourable than PAS. A partnership will also give Umno the time to regroup and revitalise itself.
I am pretty sure that foes will turn into friendships over time. Both sides have hurled insults at each other, so both parties are equally guilty.
We are facing a crisis caused by both parties. Both were so focused on each other that they had not noticed a more dangerous and terrifying enemy lurking in the background. So, both owe the rakyat an answer to fix this threat.
BN, through the course of working with DAP, might even find them more reliable than MCA and MIC. Being equal partners is not so bad, rather playing "third" fiddle to PAS, Bersatu and even Gabungan Parti Sarawak (GPS).
From what I have observed, Muhyiddin must have promised the earth and the moon for any support. That would be very costly to the nation.
At least Anwar will keep his word. He is also a better candidate for the premiership than all the other useless wannabe prime ministers.
The rakyat are really tired of the squabbling, and it is high time these politicians got their act together and bring Malaysia to greater heights.
We need to start attracting foreign investors to provide ample jobs for our people. We need a good health system. We need a good education system to give all our young a good foundation.
We need to work on alleviating poverty. We have to start building up a strong pool of talent. We need to work for peace and racial harmony.
It is not impossible. Malaysia Boleh! Let's look forward to a new dawn.
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| Anwar mobilises Plan B by courting potential Borneo allies |
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Posted by: superadmin - 11-22-2022, 07:49 AM - Forum: Politics
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AS voices of discontent for UMNO president Datuk Seri Ahmad Zahid Hamidi to call off a possible Barisan Nasional (BN) pact with Pakatan Harapan (PH) grows louder after caretaker prime minister Datuk Seri Ismail Sabri Yaakob having joined the fray, Datuk Seri Anwar Ibrahim is taking no chances by reaching out to Gabungan Parti Sarawak (GPS) to be part of PH’s unity government plan.
At a glance, Anwar’s invitation could not have come at a better time for GPS chairman Tan Sri Abang Johari Openg who himself has been facing a backlash for wanting to join forces with the PAS-dominant Perikatan Nasional (PN).
But with time running out – the Yang di-Pertuan Agong has extended by 24 hours till 2pm today (Nov 22) for the Malaysian 10th PM hopeful to get his house in order so to speak – one wonders if the Sarawak Premier who knows pretty well that his coalition is in a GE15 kingmaker position will be contented with just a deputy premiership post at best.
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| GE15 results leave young voters bemused, questioning nation’s stability |
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Posted by: superadmin - 11-22-2022, 07:36 AM - Forum: Politics
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Quote:IT student Faridzuan Rahman, 24, was also concerned following the election results, as it reflected the nation’s lack of unity.
He stated that religious sentiments have been instilled in the youth, steering them away from solution-based parties.
“Even among the young generation, a clear conservative mindset has been planted within their upbringing.
KUALA LUMPUR – Following the election results on Saturday young voters were left even more confused and concerned that their futures will end up becoming even more uncertain.
The Vibes spoke to individuals who cast their votes for the first time last weekend, and were not shy to communicate their thoughts following it.
One such voter, Yunice Leong, expressed her concern on the current absence of a government.
“I am nervous about what will happen, because there’s no simple majority,” the 19-year-old told The Vibes.
“Since now all parties are negotiating with each other, I’m afraid the possibility of a backdoor government might happen again,” she added.
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| With mere SDs, will Muhyiddin face backdoor govt reputation again? |
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Posted by: superadmin - 11-22-2022, 07:24 AM - Forum: Politics
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KUALA LUMPUR – The legitimacy of a government formed by Tan Sri Muhyiddin Yassin would again be put into question if he proceeds with securing a simple majority through statutory declarations (SD), political observers and civil society groups said.
The groups and observers suggested the method of collecting individual signatures could see Perikatan Nasional (PN) being accused of leading another “backdoor government” – as the coalition was not the one that won the most seats in the recent general election.
Singapore Institute of International Affairs senior fellow Oh Ei Sun noted that Muhyiddin could be taking advantage of specific gaps in the anti-party hopping law, otherwise known as The Constitution (Amendment) (No. 3) Act 2022, to lure Umno reps into supporting PN.
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| Stay away from PAS, netizens tell MCA, MIC |
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Posted by: superadmin - 11-22-2022, 07:21 AM - Forum: Politics
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PETALING JAYA: Some netizens have taken to social media to warn MCA, a member of Barisan Nasional, against a BN alliance with Perikatan Nasional to form a new government following the inconclusive general election.
A Facebook user said MCA should carefully consider the matter, for fear that the Islamic party PAS, a member of PN, would impose restrictive rules on non-Muslims.
“Do you prefer PAS or DAP? Think first, sir. It’s better for MCA to swallow their pride and support Pakatan Harapan. What’s next, a ban on Genting Highlands, no beer?” the Facebook user posted.
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| ‘With Anti-Hopping Law, no need for SDs’ |
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Posted by: superadmin - 11-21-2022, 08:35 PM - Forum: Politics
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KUALA LUMPUR – There is no requirement for Dewan Rakyat Speaker Tan Sri Azhar Azizan Harun to seek statutory declarations (SDs) from every single MP from coalitions for the formation of a new government.
A source, who spoke to The Vibes on condition of anonymity, said the Yang di-Pertuan Agong had explicitly mentioned that His Majesty only requires the affirmation from party leaders on their preferred alliances as well as choice of prime minister.
The source, a constitutional expert, said as such, there is no need for lawmakers to sign individual documents stating their support.
“The correct procedure is that only a letter from BN chairman (Datuk Seri Ahmad Zahid Hamidi) saying it supports Pakatan Harapan (PH) chairman Datuk Seri Anwar Ibrahim as prime minister to lead the government is enough.
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| How DAP conquered the GE15 battleground with flying colours |
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Posted by: superadmin - 11-21-2022, 08:09 PM - Forum: Politics
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YOU don’t have to know rocket science to understand how DAP worked to get a landslide victory in the 15th General Election (GE15). It is without doubt that the majority of Chinese voted for DAP over MCA.
But there’s more to check out. If one is observant, one would have noticed that DAP this time around didn’t put Lim Guan Eng in the frontline battle at the party’s ceramahs.
The reason is obvious – if DAP were to do so, this could pose a setback as many Chinese are not happy with the way Guan Eng had dealt with education issues surrounding UTAR (Universiti Tunku Abdul Rahman) and TAR UC (Tunku Abdul Rahman University College).
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| Aspirasi demands GPS pull support from Perikatan, support Pakatan instead |
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Posted by: superadmin - 11-21-2022, 06:50 PM - Forum: Politics
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MIRI – Parti Aspirasi Sarawak and concerned Sarawakians are urging Gabungan Parti Sarawak (GPS) to make an immediate U-turn on its decision to form a coalition government with PAS and Bersatu.
Aspirasi president Lina Soo, in a statement, demanded that GPS chairman Tan Sri Abang Johari Openg change the coalition’s stance and side with Pakatan Harapan (PH) instead.
This comes amid talk that GPS and Abang Johari may have been misled into making a hasty decision in supporting Perikatan Nasional (PN) and Tan Sri Muhyiddin Yassin for prime minister.
Soo said Sarawakians are very worried about the decision taken by GPS and Abang Johari.
“Sarawakians abhor the thought of Sarawak parties linking up to form a federal government with Malaya parties known to have bias against race and religion in their policies and public propaganda.
“The wrong decision by GPS in this pivotal period will pull Sarawak into a tailspin of unending racial and religious controversies.
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