FOREIGN DIRECT INVESTMENTS

As posted by Dr. Mahathir Mohamad at Che Det on June 23, 2010 3:48 PM

1. FDI had proved useful for the creation of jobs in our country. But today things have changed. We no longer need to create low pay jobs as we no longer have the workers. These jobs go to the foreign workers. This does not benefit us much.

2. Besides the foreign investors bring in hardly any capital. They borrow locally from foreign banks operating here. During the tax holiday period they pay no tax. After the holiday is over they avoid paying tax through transfer pricing i.e. by selling their products to companies owned by them established in low-tax countries.

3. They also enjoy our subsidies for fuel and electricity.

4. FDI for investment in the stock market is much liked by the stock exchage as there would be more commission. But the foreign funds, especially pension funds invest in order to push up stock prices. The index would rise. The moment something happens, including falling share prices in New York or other cities, foreign investors would dump their holdings and pull put of the country (flight to quality). They would make huge capital gains but local investors who had followed them would be left holding the devalued shares. Huge amounts of market capital would be lost. This was what happened in the financial crisis of 1997-98.

5. We should be more selective with FDI. Where there is local capacity as in property development in designated corridors, and Government is willing to invest in infrastructures, there is no necessity to invite foreign investors. Certainly we should not encourage foreign developers to develop high cost projects which are not within reach of local buyers. Rather Government should help local investors to develop these specialised areas by building needed infrastructure.

6. If we wish to have FDI, it should be confined to industries which bring in technologies which can add high value to the products. The pay for the workers at different levels should be higher as such industries can afford higher pay. In fact we should phase out the industries dependent on cheap labour. Wherever possible, incentives such as tax exemptions should be given to industries owned by locals if they bring in technologies from abroad. Even the expansion of certain locally-owned industries should be given incentives by the Government. This is the strategy employed by Japan and Korea. By supporting local industries to grow big, they now have world class business with their own brand names.

MELAYU KEMANA 2

As posted by Dr. Mahathir Mohamad at Che Det on June 18, 2010 11:00 AM

Sebenarnya tidak ada apa-apa, itu hanya untuk menakutkan orang Melayu sahaja kerana tidak mungkin kaum terbesar di negara ini boleh menjadi minoriti di negara sendiri.

"Kalau kita lihat secara realistiknya, orang Melayu masih lagi menjadi majoriti dalam semua aspek jadi mustahil untuk menjadi minoriti," katanya.

"Hanya orang yang terdesak sahaja yang akan mengeluarkan kenyataan begitu dan ini menunjukkan beliau (Mahathir) masih belum matang dalam berfikir." - Prof Madya Dr Azmi Sharom, pensyarah undang-undang Universiti Malaya (Malaysian Insider, 17 Jun 2010).


1. Saya akui yang pemikiran saya belum matang seperti yang didakwa oleh Prof Madya Dr Azmi Sharom, pensyarah undang-undang Universiti Malaya.

2. Saya lupa bahawa 60 peratus daripada 100 peratus adalah majoriti. Dan jumlah orang Melayu di Malaysia menjadikan mereka 60 peratus daripada 27 juta rakyat Malaysia. Mereka bukan minoriti.

3. Tetapi orang Melayu sekarang berpecah tiga. Kalau pecahan ini sama rata maka tiap satu puak atau parti, peratusan mereka adalah 20 peratus. Walaupun mungkin ada parti yang mendapat lebih ramai penyertaan, jumlah peratusan mereka tak mungkin 50 peratus atau lebih.

4. Angka-angka sokongan kepada PAS sahaja dalam pilihanraya menunjuk lebih 50 peratus daripada pengundi Melayu menyokongnya. Lima puluh peratus daripada 60 peratus (jumlah peratusan Melayu dalam negara) ialah 30 peratus.

5. Yang baki 30 peratus terbahagi antara UMNO dan PKR dengan UMNO mungkin mendapat bahagian yang terbesar.

6. Dilihat daripada segi keseluruhan penduduk negara, Melayu yang 60 peratus sudah terbahagi kepada tiga puak yang masing-masing mendapat peratusan kurang daripada 50 peratus penduduk, iaitu kurang daripada majoriti. Puak-puak ini pula bermusuh sesama mereka sehingga ketiga-tiga menjadi lemah.

7. Secara efektif tidak ada lagi kuasa 60 peratus pada Melayu. Permusuhan sesama mereka menjadikan mereka lemah. Kuasa mereka tidak lebih daripada jumlah mereka dalam parti-parti campuran yang mereka sertai iaitu hanya 1/3 daripada 60 peratus, iaitu hanya 20 peratus.

8. Ini menjadikan mereka, dalam konteks kuasa mengundi demokratik, puak minoriti, walaupun daripada jumlah bilangan mereka sebagai warga Negara mereka berjumlah 60 peratus.

9. Kita mudah lupa. Bala tentera Sultan Melaka jauh lebih besar daripada pasukan Portugis yang menyerang Melaka. Tetapi bala tentera Melaka kalah.

10. Bukan jumlah yang besar yang penting. Yang penting ialah keupayaan pasukan.

11. Dan tidak kurang pentingnya kepada hasil pertempuran antara Melaka dan Portugis ialah peranan Kitol dan Raja Mendeliar. Dikalangan orang Melayu yang sudah terbahagi tiga terdapat ramai Kitol dan Raja Mendaliar.

12. Jumlah semua 60 peratus. Tetapi kuasa bukan 60 peratus. Kuasa Melayu hanya kuasa minoriti. Aspek yang inilah yang dimaksudkan oleh saya yang kurang matang fikiran.

MELAYU KEMANA

As posted by Dr. Mahathir Mohamad at Che Det on June 17, 2010 8:08 AM

1. Melayu menentang Malayan Union kerana rancangan British ini akan memberi hak kepada sesiapa sahaja menjadi rakyatnya.

2. Melayu pada masa itu takut jumlah rakyat bukan Melayu yang rata-rata lebih kaya dan lebih terpelajar akan menguasai bukan sahaja ekonomi tetapi juga politik Malayan Union. Dengan ini akan terlucutlah kuasa Melayu ke atas negeri-negeri Melayu.

3. Sebab itu apabila mereka tewaskan Malayan Union, persekutuan yang menggantinya secara rasmi dinamakan Pesekutuan Tanah Melayu. Dalam Persekutuan ini 80 peratus lebih rakyatnya terdiri daripada orang Melayu. Kelebihan yang tinggi ini meyakinkan mereka yang nasib mereka akan ditentukan oleh mereka.

4. Dalam Pilihanraya 1955 mereka bersedia untuk memberi kawasan-kawasan yang majoriti pengundinya Melayu kepada calon kaum-kaum lain daripada parti-parti rakan dalam Perikatan. Dengan undi yang ada pada mereka, mereka tentukan calon-calon bukan Melayu ini mendapat kemenangan. Tujuan korban ini ialah untuk meyakinkan penjajah British yang orang Melayu tidak akan menindas kaum lain apabila berkuasa.

5. Dengan ini British pun memberi kemerdekaan pada tahun 1957, iaitu hanya dua tahun selepas korban yang dibuat oleh orang Melayu.

6. Atas tuntutan Sir Tan Cheng Lok supaya ditambah rakyat bukan Melayu, Kerajaan pimpinan Tunku Abdul Rahman bersetuju untuk mengurangkan peratusan rakyat Melayu daripada 80 peratus kepada 60 peratus dengan memberi kerakyatan tanpa syarat kepada penduduk bukan Melayu. Satu kontrak sosial dibuat supaya pengurangan ini diimbangkan dengan agihan kekayaan yang lebih saksama kepada orang Melayu. Bagaimana ini hendak dicapai tidak pula dijelaskan.

7. Pemimpin Melayu berpendapat dengan 60 peratus daripada warga negara terdiri daripada Melayu, mereka masih menjadi majoriti dan masa depan mereka terjamin. Angka ini tidak banyak berubah apabila terbentuknya Malaysia.

8. Dalam sistem demokrasi memanglah majoriti akan berkuasa. Tetapi yang tidak diambilkira oleh kepimpinan Melayu ialah Melayu akan berpecah dan bermusuh sesama sendiri. Apabila ini berlaku kelebihan jumlah mereka tidak lagi akan menjadi mereka kaum majoriti dalam negara.

9. Perpecahan bermula apabila ulama-ulama UMNO memisahkan diri mereka untuk menubuh Parti PMIP (Pan-Malayan Islamic Party). Pada mulanya PMIP tidak berjaya menghakiskan sokongan kepada pertubuhan utama orang melayu iaitu UMNO.

10. Kemudian kerana rebutan kepimpinan dalam UMNO, parti serpihan Semangat 46 ditubuh.

11. Walaupun Semangat 46 dibubar dan diserap semula kedalam UMNO tetapi ramai yang tidak dapat terima percantuman semula ini. Dengan itu sedikit sebanyak UMNO Kehilangan penyokong.

12. Kemudian Timbalan Presiden UMNO terpaksa disingkir daripada UMNO dan ianya berjaya dengan cara-cara tertentu mengheret keluar ahli UMNO untuk menyertai satu lagi parti Melayu. Perbuatan ini berjaya membahagikan orang Melayu kepada tiga buah parti, iaitu UMNO, PAS dan PKR.

13. Dengan adanya tiga buah parti, orang Melayu yang dahulu menjadi majoriti warga negara dengan jumlah 60 peratus daripada seluruh rakyat Malaysia sudah berpecah dan terbahagi kepada tiga kumpulan. Tidak ada satu pun daripada kumpulan ini yang disokong oleh majoriti rakyat. Ketiga-tiga mendapat sokongan tidak lebih daripada 30 peratus rakyat negara. Dengan perkataan lain orang Melayu sudah jadi puak minoriti dalam negara.

14. Sebagai puak minoriti mereka tidak mungkin lagi menjadi kuasa utama dalam parti-parti campuran yang disertai oleh mereka.

15. Mungkin mereka diletak sebagai pemimpin tertinggi dalam Kerajaan-Kerajaan Pusat dan Negeri. Tetapi mereka terpaksa mengikut telunjuk rakan-rakan mereka.

16. Kita lihat di Perak umpamanya apabila Kerajaan yang diketuai oleh Melayu dijatuhkan, kaum tertentu menganggap bahawa sebuah Kerajaan milik kaum itu yang dijatuhkan.

17. Mungkin di peringkat pusat juga akan ada ketua kepimpinan yang terdiri daripada Melayu tetapi duduk dibawah telunjuk orang lain.

18. Dengan ini besar kemungkinan Melayu secara sebenar sudah menjadi puak minoriti yang tidak berkuasa di negara sendiri. Kalau mereka berpendapat mereka akan diberi layanan yang baik apabila sudah tidak sebenar berkuasa, lihatlah sahaja nasib kaum mereka yang sudah menjadi kaum minoriti di negara jiran.

19. Masa sudah tiba untuk orang Melayu memikir dengan mendalam akan nasib masa depan mereka. Bersatu teguh, bercerai roboh. Pilihlah yang mana satu.

20. Saya akan dituduh "chanuvinist" dan "racist" kerana menyuarakan pendapat saya ini. Saya sanggup dilabel dengan apa sahaja label. Niat saya ialah untuk memperingati kita semua sebelum nasi jadi bubur. Berpecah dan berebutlah. Akhirnya yang dikendong akan berciciran dan yang dikejar tidak tercapai.

Wahai Melayu,

Kemana kamu?

TONY BLAIR

As posted by Dr. Mahathir Mohamad at Che Det on June 16, 2010 9:10 AM

1. Tony Blair, the disgraced ex- Prime Minister of Britain, who was recently paid RM 1 million by "Malaysian achievers" to personably teach them how to achieve, says that Israel has a right to defend itself, when commenting on the killing of Turkish volunteers on the Mavi Marmara.

2. This is to be expected of a British Prime Minister who lied so he could send the British forces to kill Iraqis. Killing innocent people is to have almost a pastime. That the Turkish volunteers were on a mercy mission to bring food, medicine and building material to the Palestinian in Gaza; that Turkey is not at war with Israel, that they were unarmed mean nothing to Tony Blair.

3. Just as he feels justified telling lies so he could war against Iraq, shooting and killing aid workers is to him part of defending a country.

4. The achievers in Malaysia must have learnt a lot about how to achieve by lying and by killing innocent people. The one million Ringgit (200,00 Pound) they paid him is well spent.

BARRY WAIN

As posted by Dr. Mahathir Mohamad at Che Det on June 14, 2010 9:00 AM

1. After the forum held by the University of Malaya to discuss the book by Barry Wain entitled "Malaysian Maverick: Mahathir Mohamad in Turbulent Times", during which I was condemned for all kinds of misdeeds, many have asked me to sue the author. In fact even before the book was allowed to be sold in Malaysia, many who took exception to Barry Wain's vilification of my stint as the Prime Minister of Malaysia, many, including the Press have asked me to sue the author.

2. My view is that a politician must accept all the opinions for or against him as normal. They go with the job.

3. I am leery of politicians who sue their critics. I suspect that what they want is to make the issue sub-judice so as to prevent the critics from attacking them on the issue. This is a cowardly move and in fact proves that the criticisms are fully justified.

4. A politician who is convinced of his own integrity and innocence should be able to fend off the attacks by proving that they have no basis in fact. It is up to the people, after hearing both sides to decide on the matter. Shutting the mouth of the critics by abusing the authority of the court of law is no better than Governments which censor or shut down papers which are critical of them. Those who resort to this trick to shut the mouths of their critics are in fact showing the kind of leader they would make if they come to power.

5. Malaysians should be discerning enough to recognise such politicians who are fond of accusing others of misdeeds but who are in fact already abusing whatever little power they may have at their disposal.

6. Barry Wain and his people can say what they like. The people in this country can decide whether it is just arrogance or whether their accusations are what they say they are. I will have my say if I think it necessary.

THE RESHUFFLE

As posted by Dr. Mahathir Mohamad at Che Det on June 9, 2010 2:36 AM

1. The MCA has rejected Ong Tee Keat as President. It is to be expected that he would be dropped from being a Minister in the Cabinet.

2. His successor as Minister must know that Ong Tee Keat was about to expose the culprits in the Port Klang Free Zone (PKFZ) scandal. His removal may lead to the investigation and exposure as well as action on the Port Klang scandal being terminated.

3. I hope this does not happen. Tee Keat's successor must carry on his work and expose as well as take action against the people involved in that scandal. I don't think it is the intention of the MCA to put a stop to the needed action by dropping Tee Keat.

*This piece was written soon after the June 1st Cabinet reshuffle*

REMOVING SUBSIDIES

As posted by Dr. Mahathir Mohamad at Che Det on June 8, 2010 2:28 PM

1. Since the report that Datuk Seri Idris Jala had announced that the country faces the possibility of going bankrupt if the Government continues with the high subsidies to various items, there has been much concern and debate.

2. The Malaysian Insider claims that UMNO has a distaste for subsidy cuts because it has rebuked Idris. I suppose the Insider and the opposition are all against subsidy cuts even if they lead to Malaysia going bankrupt.

3. Everybody must have read about the fate of Greece whose borrowings exceeded its GDP. The European Union has had to bail out Greece to the tune of 300 billion Euro to prevent it from going bankrupt and pulling down the European Union with it. Already the Euro has depreciated substantially and many are predicting the demise of this European common currency. The European economy, once powerful and rich, faces the possibility of a recession, simply because of the bankruptcy of one of its members.

4. Idris has not predicted bankruptcy today or next year or any time soon. He says if the debt goes up by 12 per cent per annum we would be bankrupt by 2019 when our debt would be equal to our GDP. Do we want to let the country slide into banruptcy?

5. What Idris is saying is that if we continue with the present level of subsidy (already reaching RM74 billion per annum) and we cannot pay our debts, we will certainly not be able to arrest the slide.

6. To pay our debts we must cut back on spending, A big item is the subsidies for food, fuel and power, health, education and tolls.

7. I believe he will not cut subsidy, or at least not much, on food, health and education. But the subsidies for fuel and power and toll payments should be gradually reduced.

8. When I was Prime Minister the price for one barrel of oil was only US$30. The subsidy was not too big. It is now US$80. To keep the same price would mean to increase the amount of subsidy to make up the difference. Similarly when the Government agrees not to increase toll rates it has to reimburse the losses sustained by the operators. This cost a lot of money.

9. Borrowing money to pay for the increasing cost of subsidy is not the answer. A good Government must ensure that servicing loans is sustainable.

10. The Insider and the Opposition must know all these. If they are against cuts in the subsidies it must be because they want the country to go bankrupt so that the Government party would be defeated. You may defeat the Government but if you inherit a bankrupt country, you will not be able to turn around the country either.

GAZA AID CONVOY

As posted by Dr. Mahathir Mohamad at Che Det on June 3, 2010 11:30 AM

1. The Israelis claim that the activists on the M.V. Mavi Marmara had attacked their commandos with guns, iron rods, scissors and pointed sticks.

2. The last time Free Gaza sent a small boat to take relief supplies to Gaza, Israeli commandos boarded it and towed it to Ashdod.

3. The activists must know that the same thing might happen to them. But it is ridiculous to suggest that the civilian activists planned to fight against the well-armed and well-trained Israelis.

4. Claiming that the activists attacked the commandos first is equally ridiculous. The forces ranged against them were powerful and enormous, capable of sinking their boats. The Israelis have been known to ram supply boats with their armoured naval vessels. What is clear is that the Israeli's were the ones to attack first by dropping their commandos from the helicopter.

5. The Israelis claim that the activists seized the pistols belonging to the commandos. Again this is ridiculous. These are trained soldiers, wearing protective armour and most certainly skilled in unarmed combat. It is most unlikely that raw activists can disarm and seize the guns of the black-suited commandos.

6. In any case, shooting with live bullets against a group of civilians probably armed with wooden sticks is unjustified. The hazy pictures shown by the Israel propagandist of rods being used may not be iron rods at all. They could be wooden sticks as the pictures are dark silhouettes which cannot be identified as activists or soldiers.

7. Our Malaysian reporter who has been released and is in Jordan tells of wooden sticks and water jets from fire-hoseswhich were used by the activists. His story is much more credible. But knowing the Israelis, they will continue to lie about their criminal acts even if they are seen to be committing them by the whole world.

8. Incidentally, the Rachel Corrie is named after a brave 23 year old American girl who stood in front of a bulldozer which was about to destroy a Palestinian house. The Israeli operator of the bulldozer simply ran over her and killed her. This is the standard behaviour of Israelis. The much condemned Chinese faced with the same situation, stopped his tank.

9. It is no surprise that the Israeli commandos would readily kill unarmed civilians. This is the degree of their arrogance. Their sufferings during the holocaust has not made them better humans. They are worse than the Nazis.

SHORT SELLING

As posted by Dr. Mahathir Mohamad at Che Det on June 1, 2010 3:55 PM

1. Some people in Malaysia particularly those involved with the stock markets seem keen to legalise what is called "short selling". Basically short selling is about selling shares or currencies or other assets that the seller does not have with the expectation that the sale would push the prices down. Once the price is down the seller would then buy to deliver to the earlier buyers he had sold to at a higher price.

2. Short selling is not speculation. It is manipulation of the market with almost certain success to be had. Other investors or buyers would lose money as they would be left holding the devalued shares or money or whatever.

3. Malaysia had banned short selling in the past. We regarded it as unfair and damaging to genuine investors.

4. I read in the Financial Times of 24th May that "Europe plans ban on naked short selling". Angela Merkel, the German Chancellor has unilaterally banned "naked shorting of Eurozone sovereign debt instruments and shares of 10 German banks". This has caused a "financial turmoil" meaning the short sellers are unhappy that they cannot manipulate the market anymore. Merkel asked how people can sell something they don't have.

5. The Europeans and the Americans are still hoping to keep all the "financial products" which they must know are what precipitated the current crisis. They are still refusing to review, modify or discard the monetary, banking and financial systems that they had devised and which they abused in order to get rich quick.

6. If we in Malaysia or other developing countries were to have this state of mind, then they would say that we are in a state of denial. And some locals will also echo their words.

7. I have no say in the Government but I think Governments should take note that not copying the West is not a sure recipe for failure.

8. In fact we should not consult Western people in the running of our country. They don't know our situation and their advice would not be good for us.

9. And we should note that even when they know a lot about the affairs of their own countries, they often bungle things. It is they who messed up the world's finances.

10. We are not always right of course. But I think we know our situation better than foreign consultants. We know our situation and the character of our prople. What may be good for the West may not necessarily be goof for us. Besides we know now that the very developed west can make very many horrible mistakes.

11. I will leave it at that.