Malaysia’s Steady But Sure Growth

Welcome to Kuala Lumpur, the IPO town … where bankers are enjoying a boom of breath taking proportions.” This is how one journalist described the recent initial public offerings of Felda Global Ventures Holdings and IHH Healthcare on the Kuala Lumpur stock exchange, in the world’s second- and third-biggest listings this year. Equating Kuala Lumpur with major financial centres such as Hong Kong or Singapore, as some reporters have done in recent weeks, is perhaps indicative of the hype that tends to surround major stock market listings. But the Kuala Lumpur stock exchange is gaining in strength; it hit a record high in July. By bucking the gloomy global trend, it also mirrors the wider Malaysian economy. In the first quarter of this year, the Malaysian economy clipped along at a respectable 4.7per cent, even as our main export markets in Europe languished in recession, and important trading partners such as China and India came off the boil. Malaysia’s debt levels remain at a manageable 53.6per cent of gross domestic product, while our unemployment rate stands at 3per cent. Per capita income has increased from US$6,700 in 2009 to US$9,700 at the end of last year. British Prime Minister David Cameron recently referred to Malaysia as a “powerhouse of the modern global economy”. As Malaysia’s prime minister, it would be tempting, but wrong, to claim the credit for this economic success. The real praise must go to the brilliance of our entrepreneurs, the enthusiasm of our young, plugged-in graduates, and of course the dedication and hard work of the hundreds of thousands of Malaysians who work in core industries such as plantations, services and manufacturing. That being said, the government’s steady economic stewardship, and in particular our Economic Transformation Programme, has provided a sound basis for our country’s economic resilience. Malaysia never embraced the unregulated, instant-gratification capitalism that has proved catastrophic to some economies since the global financial crisis. Instead, we focused on ensuring stability and making considered, iterative reforms that accrue long-term dividends. We have liberalised services sectors, focused investment in key growth industries and divested state ownership in well-established companies. Felda Global and IHH Healthcare are cases in point. For many years, the government owned majority holdings in these fledgling companies, shielding them to some extent from the vagaries of the market until they were mature enough to fly the nest. Felda Global is now the world’s third-largest palm oil company by acreage, while IHH Healthcare is Asia’s biggest hospital operator. The government continues to support emerging industries that will power the Malaysian – and the global – economy in the decades to come. For example, we aim to grow our information, communication and technology sector to provide 17per cent of national income by 2020; and we are supporting low-carbon technologies, such as solar modules, super-efficient LED lighting and hybrid and electric cars. Our tourism and high-end manufacturing sectors are already global leaders; while Malaysia is the world’s front runner in Islamic finance. Last Monday, I cut the ribbon on the Tun Razak Exchange, Kuala Lumpur’s new international financial district. The exchange aims to attract 250 companies, create 500,000 new jobs and generate over US$8billion in development value. Our aim is to transform Kuala Lumpur into a global financial centre. The value of the Islamic finance sector, for example, was just US$5billion in 1985 but is over US$1trillion today. Malaysia accounts for some 40per cent of this trade and we plan to triple the value of this sector over the next decade. Growth areas such as these will ensure that we are well positioned to lead tomorrow’s global economy and achieve our ambition of reaching developed country status by 2020. In Malaysia, however, we avoid equating development purely with economic growth. An open and dynamic economy requires equally vibrant and competitive politics. For Malaysia’s long-term stability and success, our political system must evolve and mature alongside our economy. For these reasons, the government has in the past few months implemented a raft of reforms aimed at strengthening and deepening our democracy. These reforms include ending Malaysia’s decades-old state of emergency; repealing the Internal Security Act – that permitted detention without trial – with legislation that allows police to detain terrorist suspects for up to 28 days, and only for the purpose of active investigation; introducing legislation to liberalise the media; widening the scope for student participation in politics; and, most recently, repealing the much maligned Sedition Act, which dated back to colonial times. I believe that the Malaysian approach – a steady, nurturing form of capitalism, with economic and political reforms going hand in hand – can continue to bring success. And I hope that the Kuala Lumpur bourse, like our economy, will continue to experience more of the Malaysian boom, and less of global gloom, in the months and years ahead. Source: 1Malaysia personal website of PM. Jarumemas: Economy is the strength of a nation next to stability.

ndahnya ‘Keranamu Malaysia

Oleh Ku Seman Ku Hussain SETIAP kali menjelang ulang tahun kemerdekaan tanah air ini, saya pasti teringat pada lagu Keranamu Malaysia. Lagu ini menjadi lagu tema ulang tahun kemerdekaan selama enam tahun bermula 2000. Lagu yang dicipta oleh Datuk Suhaimi Mohd Zain (Pak Ngah) dan lirik oleh anggota kumpulan Kopratasa, Syed Indera Syed Omar (Siso) membuatkan siapa sahaja mendengarnya akan tumpah kasih dan cinta pada Malaysia yang bertuah ini. Selama enam tahun, Keranamu Malaysia berjaya menyusupi urat nadi dan hati nurani rakyat seterusnya sanggup berkorban kerananya. Lagu yang indah di telinga dan lirik yang sedap di jiwa membuatkan lagu ini menjadi malar segar hingga hari ini. Malah boleh dianggap Keranamu Malaysia lagu tema ulang tahun kemerdekaan yang terbaik. Menghayati lagu ini pasti membuatkan kita yang mengaku rakyat negara ini rasa bangga dan bertuah. Kemakmuran dan persefahaman dalam konteks negara multiracial dirasakan sangat luar biasa pencapaian kita. Sumber: Utusan Malaysia Jarumemas: 6 tahun tak siapa pun pertikai...

BN yakin menang 22 kerusi di P.Pinang, tawarkan lebih banyak ‘ganjaran’ menjelang PRU 13

KUALA LUMPUR, 7 Ogos — Barisan Nasional (BN) yakin akan mengambil alih Pulau Pinang dari Pakatan Rakyat (PR) dengan memenangi 22 daripada 40 kerusi dewan undangan negeri (Dun) - lima lagi kerusi berpeluang menang dan bakal menawarkan lebih banyak lagi “ganjaran” menjelang pilihan raya akan datang, kata satu sumber. The Malaysian Insider diberitahu, laporan dibawah menunjukkan perubahan ini disebabkan oleh kepimpinan setiausaha agung Gerakan, Teng Chang Yeow dalam BN Pulau Pinang dan juga serangan media terhadap ketua menteri, Lim Guan Eng terhadap pembangunan di cerun bukit serta kelemahan parti komponen utama PR iaitu PKR. “BN yakin menang 22 kerusi Dun dan boleh menang lagi lima kerusi dengan sedikit lagi kesungguhan kerana Teng telah berjaya membawa semua parti komponen untuk berkerja bersama-sama,” kata satu sumber kepada The Malaysian Insider dengan menambah kerusi boleh menang adalah yang disandang oleh PKR dan PAS. Berita lanjut... Jarumemas: Insyaallah...

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Chong Wei says will try for gold in 2016 Olympics

SEPANG, Aug 7 — Badminton ace Datuk Lee Chong Wei said today he will make another bid for the elusive Olympic gold at the next games in 2016 in Rio de Janeiro. Lee, 30, who returned home early this morning from the London Olympic Games, said he will focus on the upcoming Southeast Asia (SEA) Games and the Commonwealth Games. “I am not thinking long term... wait for the SEA Games and Commonwealth; if there are no injuries, I will try for (the Olympics in) 2016,” he told reporters after landing at the Kuala Lumpur International Airport here. His homecoming was celebrated by about 1,000 supporters who had been waiting at the airport arrival hall since 5am. The former world No. 1 said he was heartened by the warm welcome despite winning only the silver in the men’s badminton singles event in London. “I am proud to receive such a welcome... even if I am disappointed for not getting the gold medal. “But (the Olympics) have passed,” he told reporters. Cont. reading... Jarumemas: One in a million...

Akaun Twitter palsu Anwar jemput Saifuddin sertai PR

KUALA LUMPUR, 6 Ogos — Timbalan Menteri Pengajian Tinggi, Datuk Saifuddin Abdullah hari ini menolak tawaran menyertai Pakatan Rakyat (PR) oleh "Datuk Seri Anwar Ibrahim" yang dikemukakan kepada beliau menerusi laman Twitter miliknya. Pelawaan itu bagaimanapun turut ditolak Saifuddin menggunakan akaun Twitter dengan menyebut,"Datuk Seri, terima kasih atas tawaran. Saya jawablah." Tawaran menyertai PR itu bagaimanapun dibuat oleh satu akaun Twitter palsu menggunakan alamat @anwaribrrahim sedangkan akaun Twitter Ketua Pembangkang yang sebenar ialah @anwaribrahim. Dipetik Sinar Harian Online, Saifuddin menegaskan beliau terpaksa menjawab entri akaun itu bagi menjelaskan pendiriannya, lebih-lebih dalam keadaan sekarang. Berita lanjut... Jarumemas: Jangan ikut resmi lalang..