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51% equity rule – the making of more Malay fat cats? Posted by: superadmin - 10-04-2021, 09:51 PM - Forum: Politics - No Replies You must have been following the ongoing excitement about the government ruling that requires non-Bumiputera freight forwarding companies to sell 51% of their equity to Bumiputeras. My own reaction was “Oh wow, haven’t heard of such things for a while”. I guess unremitting disasters (viruses, incompetent governments, economic stress) have been occupying my mind a lot lately. But this is Malaysia, and Covid or no Covid, nothing much has changed. Seems like our regular Malaysia Boleh service is resuming as things are beginning to look up a bit. I have a question though – how will this help the Malays? Seriously, do you think anybody in KL cares about our Bumiputera brothers and sisters across the South China Sea? If the companies are nationalised instead and the shareholdings turned into unit trusts and distributed to all Bumiputeras (here give a bit of face lah to the East Malaysians and the odd Eurasians), then it may be of some help. Everybody gains here, or rather, none will lose too badly. Or sell the shares to government-linked companies. But our GLCs have their own issues trying to navigate the treacherous business environment caused by the pandemic, and also figuring out who their next chairman will be, given the horse-trading among their political masters. Anyway, how likely would such GLCs outperform the current non-GLC businesses? Good question isn’t it? - More -   MPs should scrutinise GLCs, not run them, says Bersih Posted by: superadmin - 10-04-2021, 07:50 PM - Forum: Politics - No Replies PETALING JAYA: The electoral reform group Bersih 2.0 has called for an immediate end to political appointments at government-linked companies, saying that such appointments were tantamount to a direct conflict of interest. In a statement, Bersih 2.0 said GLCs should be headed by professionals with relevant experience, a proven track record and personal integrity to ensure that all these companies are well managed and the public interest is safeguarded. “Bersih 2.0 expresses concern at the recent appointments of Machang MP Ahmad Jazlan Yaakub and Rompin MP Hasan Arifin as chairman of Felcra Bhd and Tenaga Nasional Bhd respectively. “MPs should focus on their role as lawmakers and perform oversight functions on the government of the day, including the performance of all GLCs under the purview of the Executive. “There will be a direct conflict of interest between the role of running GLCs and the role to scrutinise the government’s management of GLCs when MPs themselves are appointed to hold positions in GLCs,” it said. - More -   Britain deploys its army to deliver fuel as panic buying and shortages continue Posted by: superadmin - 10-04-2021, 07:10 PM - Forum: Business, Economy and Investment - No Replies LONDON — British soldiers have begun delivering fuel in the U.K., as panic buying of gasoline continues in some parts of the country. Around 200 military personnel are to be deployed as part of Operation Escalin, a strategy devised by the British government to help ease fuel supply constraints caused by a major shortage of truck drivers. Photographs Monday morning showed soldiers in combat fatigues at a BP refinery in Hemel Hempstead, England. Army tanker drivers have been on standby since last week. The government’s Reserve Tanker Fleet —  driven by civilians — was deployed on Tuesday to deliver gasoline. Panic buying of gasoline in the U.K. in recent weeks has caused long lines outside stations, many of which have been left completely dry. While the situation has begun to improve in most parts of the country, shortages remain acute in London and England’s southeast. - More -   Market is unprepared for the inflation fallout, Wharton’s Jeremy Siegel warns Posted by: superadmin - 10-04-2021, 07:07 PM - Forum: Business, Economy and Investment - No Replies Wall Street may be on the verge of an uncharacteristically painful quarter. Wharton finance professor Jeremy Siegel, who’s known for his positive market forecasts, is sounding the alarm on the market’s ability to cope with inflation. “We’re headed for some trouble ahead,” he told CNBC’s “Trading Nation” on Friday. “Inflation, in general, is going to be a much bigger problem than the Fed believes.” Siegel warns there are serious risks tied to rising prices. “There’s going to be pressure on the Fed to accelerate its taper process,’” he said. “I do not believe that the market is prepared for an accelerated taper.” His cautious shift is a clear departure from his bullishness in early January. On Jan. 4 on “Trading Nation,” he correctly predicted the Dow would hit 35,000 in 2021, a 14% jump from the year’s first market open. The index hit an all-time high of 35,631.19 on August 16. On Friday, it closed at 34,326.46. According to Siegel, the biggest threat facing Wall Street is Federal Reserve chair Jerome Powell stepping away from easy money policies much sooner than expected due to surging inflation. “We all know that a lot of the levity of the equity market is related to the liquidity that the Fed has provided. If that’s going to be taken away faster, that also means that interest rate hikes are going to occur sooner,” he noted. “Both those things are not positives for the equity market.” - More -   How chili peppers helped Nobel prizewinners understand how we feel heat Posted by: superadmin - 10-04-2021, 06:44 PM - Forum: Health News - No Replies (CNN)The 2021 Nobel Prize in physiology and medicine has been awarded to David Julius and Ardem Patapoutian for their discoveries of receptors for temperature and touch. The two US-based scientists received the accolade for describing the mechanics of how humans perceive temperature and pressure through nerve impulses. Julius is a professor at the University of California, San Francisco. Patapoutian is a professor at the Howard Hughes Medical Institute at Scripps Research in La Jolla, California. "Our ability to sense heat, cold and touch is essential for survival and underpins our interaction with the world around us," the Nobel Assembly said in a statement announcing the prize. - More -   Bumiputera policy and 12MP: eyebrow-raising discrepancies between plan and speech Posted by: superadmin - 10-04-2021, 06:38 PM - Forum: Politics - No Replies Bumiputera policy and 12MP: eyebrow-raising discrepancies between plan and speech – Lee Hwok Aun PRIME Minister Datuk Seri Ismail Sabri Yaakob barely had one month to make his imprint on the 12th Malaysia Plan (12MP), and it shows. The 530-page tome was complete, with room only to insert his Keluarga Malaysia brand into the Preface, Introduction and Conclusion chapters.   But he had the chance to deliver the 12MP address in Parliament and, of course, he took it.  This explains a quite peculiar – and unusually politicised – speech. The equity ownership aspects are being hotly debated, but there is more to it, beginning with subtle but impactful discrepancies between the 12MP document and the PM’s speech.   The tabling of five-year Malaysia Plans is the pinnacle of policy speechmaking: grand, serious, comprehensive, and potentially momentous. Yes, there are also grandiosity, self-congratulation and claptrap moments, but typically, we get a pointed summary of a massive document. The 12MP contains 13 chapters aligned with three themes, four “enablers” and 14 “game changers”. Instead of keeping to this laboriously formulated outline and buzzwords, though, the PM’s speech reshuffled the contents into nine “focus areas”. - More -   Don’t put ‘cart before horse’ on carbon emission target, says MP Posted by: superadmin - 10-04-2021, 06:26 PM - Forum: Environment Protection News - No Replies PETALING JAYA: Announcing a net-zero carbon emission target before proper deliberation is done on how to achieve it is akin to “putting the cart before the horse,” said Seputeh MP Teresa Kok. She said that given the severity of the global climate crisis, it is heartening to see the government has a carbon neutrality target of net-zero emission by 2050, as outlined in the 12th Malaysia Plan. However, the former minister questioned the need to rush and impose a deadline as the announcement comes before the long-term low emissions development strategies study is finalised in 2022. “The decision (to announce a target) is akin to putting the cart before the horse. Sound decisions can only be made through thorough deliberations,” she said in a statement. - More -   Review sports industry to ensure gender equality, says MP Posted by: superadmin - 10-04-2021, 06:22 PM - Forum: Stop Gender Inequality - No Replies KUALA LUMPUR: The youth and sports ministry should review and amend the Sports Development Act 1997 to deal more fairly with women in the sports industry, said P Prabakaran (PH-Batu) today. He said women were usually discriminated against when it came to sports, whether they were amateurs or professionals, adding that this was particularly observable in the lack of attention on females in the national sports structure. Prabakaran told the Dewan Rakyat that female athletes also struggled with issues of limited sponsors and rewards for performing well, compared to male sportsmen. He said women also faced greater difficulty working in the sports industry, and female sports teams received less media coverage compared to men’s teams. “Our men’s football team gets more attention than the women’s football team. The same goes for futsal, athletics, and others. So I want to ask the youth and sports ministry, what measures will be taken to overcome this? - More -   Pandora Papers shed light on offshore assets linked to Daim Posted by: superadmin - 10-04-2021, 04:00 PM - Forum: Politics - No Replies Pandora Papers shed light on offshore assets linked to Daim, who insists nothing shady about them KUALA LUMPUR, Oct 4 — The Pandora Papers — documents obtained by the International Consortium of Investigative Journalists (ICIJ) on tax havens preferred by the rich and powerful — have shed some light on business associates of former finance minister Tun Daim Zainuddin. Malaysiakini reported that according to the documents, which were sighted by them, the companies and trusts held by Daim's children, wife or known business associates jointly were worth at least £25 million (about RM141 million). Daim’s sons, Muhammed Amir Zainuddin Daim and Muhammed Amin Zainuddin Daim were named owners of a British Virgin Islands (BVI) firm Newton Invest & Finance Limited (BVI) in 2007 when they were nine and 12 respectively. By 2017, when the brothers were in their early 20s, they were owners of several offshore firms set up in tax havens, including Splendid International Ltd (BVI) which held London properties worth £12 million (about RM65 million at 2017 exchange rates). - More -   Western media bias against China deplorable, dangerous Posted by: superadmin - 10-04-2021, 03:24 PM - Forum: Politics - No Replies For years, the unspoken truth about Western media is that their veneer of objectivity has come off a long time ago. While touting themselves as the epitome of trustworthiness and honesty, some media practitioners in the West have no qualms about propagating lies against China. As the coordinated anti-China smear campaign is gaining steam, more intrepid journalists with a conscience are calling it out despite the tremendous pressure to silence them. In one of the most excoriating rebukes against Western media's manipulation of the public opinion against China, Javier Garcia, head of the office of the EFE News Agency of Spain in Beijing, announced earlier this week that he would soon leave journalism, as the flagrant information manipulation by Western media "has taken a good dose of my enthusiasm for this profession." The departure of journalists like Garcia is a giant loss to the industry, which is in dire need of introspection. For those who choose to stay and disagree with the highly biased and distorted reporting on China, they are usually confronted with a monolithic propaganda structure in the West to ignore, silence and discredit them. The past few years have seen a lot of deplorable cases where anyone who dared to maintain objective and impartial positions on China were accused of being on the payroll of the Chinese government or even worse. - More - Pages (1172): « Previous 1 … 862 863 864 865 866 … 1172 Next » Jump to page: