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Sunday, January 15, 2006
Healthy cash flow company listed on Mesdaq
She analyze company listed on Malaysian Exchange of Securities Dealing and Automated Quotation Market ( Mesdaq ) using cash flow rather then profit. She laud the Singapore Exchange in it listing guildlines say, inter alia," The group must be in a healthy financial position, having regard to whether the group has a positive cash flow from operating activities?"
She view that our Malaysia listing guidlines are profit-driven although there is a reference to "sufficient level of working capital at the point of listing." which she feel is quite easy to meet since the main consequence os listing is often a healthy bank balance (Other than some recent listings that only RM3million gross proceeds)
Only half of the company that reported profit has positive cash flow (net of research and development expenses), of which, only three(3) companies had receivable days of less than 100.
The three company is:
Online One RM249,000 ( 6 months )
I-Power RM728,000
Kannaltec RM1,077,000
Online One (ERP)come in to limelight when the company on 31 August 2005 announced that it would acquire FTEC (a Make in Malaysia's PC brand ) and CBS technology Bhd(e-security).
Kannaltec, is a container service company or a logistic company for me rather than a software company as describe by Teh Su-Ching. If your company dealing with import/export and container in Malaysia. You probably heard of Kannaltec before. The company CEO is an ex-Financial Controller of North Port. The company is planning to duplicated it success in the regional country.
I-Power, which claim it client included e-Genting Sdn Bhd (first client), Amway (Second) and now we have a portfolio of established clients.
I-Power is working on three new products at present: the I-Power ePos, eFinancial, and a data-mining engine based on artificial intelligence.
The company was in the process of doing a parallel run of its ePos, a point-of-sale solution for Esthetics and had already implemented the eFinancial, an accounting solution, for Ni Hsin while the data mining engine solution was still being developed.
I-Power other client included Sony (M) Sdn Bhd, eCosway.com Sdn Bhd and Teledynamics (M) Sdn Bhd.
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Friday, January 13, 2006
Food for knowledge economy
However, when we transfer from industrial economy to knowledge economy. Does rice, which provide energy rather than brain power still suitable for us?
I remember when I was a child. I read an article written by a Nanyang Siang Pao's correspondent in United State Mr Leong. He mentioned than he only able to read an English book per week whereas his friend in American,who is a professor in an US's University able to read a similar thick book within a day.Mr Leong told the professor that may be he is not English educated and English is his second language and this cause him takes more time to digest an English book than the professor.
The professor told him that this is because of food. He eat rice, which provide energy that do not required by white collar worker but unable to provide nutrition to brain. Professor advise him to try to eat western food instead and see what is the outcome.
Mr Leong feel that there is no harm trying. He eat western food like "set lunch" and "set dinner" provide by western restaurant in US. Which is much cheaper than western food in Asia country like Malaysia.Mr Leong also eat western breakfast like half broil egg.
After one week of eating western food. Guess what? He able to read and finished an English book within one day, as fast as the professor which English language is his first language.
At that point of time. Fast food like MacDonald is not that popular like now in Malaysia. Thus, western food does not mean fast food. Mr Leong has pass away but he has published a set of books, which is a collection of all articles publish in his column in Nanyang over the years. However, his book is selling fast and I unable to find such particular article again on book available in bookstore.
I rarely find his book in bookstore now a days. May be all near to sold out.
I think Malaysian and Asia country might want to change their eating habit if want to success in knowledge economy.
Update: Global Voice Online
TechnoratiTag:Asia Business Commentary competitive Computers Economics Economy Malaysia Opinion Tech News Technology
Monday, January 09, 2006
Bumiputra CEO and continuity of GLC
"The private sector, like the Government-Linked Companies (GLCs), must get the best and the brightest personnel to join them, and there are many bumiputras who fit this description," he said.
However, over the years, GLC has removed more bumiputra CEO that cause continuity problem of strategy in Government Link Company (GLC).
First, in June 2004 itself, Kumpulan Guthrie Bhd's former chief executive Tan Sri Abdul Kh

Tan Sri Ibrahim left PNB in 1994 to lead Guthrie after the former granted him an option to buy up to 20% stake in the plantation group for RM3 a share. He is the person who help Kumpulan Gutherie to gain control of large plantation land in Indonesia.
He has taken Permodalan Nasional Bhd (PNB) and Bank Islam Malaysia Bhd, Labuan (BIMB) to court, claiming he had been denied the right to buy the remaining 135 million Guthrie shares.
Market rumours said that Tan Sri Abdul Khalid ousted because he disagree with the the merger plan, not because he is incompetent. Howeve although Golden Hope Plantation Bhd and I&P has merge their plantation and property group respectively. The merger did not involve Kumpulan Gutherie after 2 years the CEO has been ousted.
Second is MAS managing director Datuk Ahmad Fuaad Dahlan. His, resignation, which announced simultaneously with the report of first quarter losses.
Yet, year end issue of The Edge quoted " to blame Fuaad solely for the airline's trouble is terribly unfair. Malaysia Airlines' failure is a result of adultering what was meant to be a private company with social and political agendas. And that is collectively the fault of its owners and manager."
Third , Most controversial one is Proton Holdings Bhd's chief executive officer Tengku Tan Sri Mahaleel Tengku Ariff contract not renew. His departure lead to Proton disposed off MV Agusta at nominal value of only one Euro which Mahaleel acquired at 70 million Euro (RM315 million). His departure cause no continuity of his strategy to revive MV Agusta claim by open letter by Mahathir and Mahaleel.
I do not feel that constant removal of bumiputra CEO at GLC is the right strategy as it cause discontinuity of strategy. Especially the reason of removal is not incompetent. But merely have disagreement with certain people.
I agree with the view point of "letter to Editor" published by The Star dated 10 Jan 2006 that the GLC should have good succession planning practice by multi-national corporations like General Electric.
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Fair Value Accounting and Proton disposal of MV Agusta at one Euro
I do not feel a motorcycle manufacturer has a synergy with car manufacturer. Thus, I do not agree Proton purchase of MV Agusta in the first place. ( The money can be used to acquire a business that have synergy like Mitsubishi)
Advantages or disadvantages of Fair Value Accounting
However, by disposing MV Agusta at nominal sum of one Euro. It appear that the company has taken the easy way out without explore the brand value of the company as claim by open letter by Mahathir and Mahaleel.
Fair Value Accounting might be good to financial market. As Proton shares prices increase after the announcement of the disposal.
However, Fair Value Accounting also fail to reflect a Loss on Disposal of Investment amounting to more than RM315 to RM500 million by the company. Which the old Accounting Standard do.
Under Fair Value Accounting, such loss only reflected on Management Account if the management keep one. I doubt the Proton management keep a management Accounts. Even if they do, Management Accounts do not have a Standard like financial accounts.
The open letter stated that the debt would not realize in 3 years. However, the management choose not to make used of the 3 years to maximize the disposal price of MV Agusta.
Clearly, Fair Value Accounting promote shortermism. It emphasis on short term result of the company rather than long term plan of the company in performance measurement and decision making.
Fair Value Accounting Vs Inflation Accounting
During 1970 when inflation rate was high cause by high petroleum price. Accounting fraternity has introduce a Standard base on what they call Inflation Accounting to reflect the drop in purchase power. However, few people in accounting profession really understand the figure, not to mention layman on the street. It is an Accounting Standard but few company follow and prepare another set of Inflation Accounting.
Would Fair Value Accounting has the same fate of Inflation Acounting is yet to be tested
Too earlier of harmonization
Fair Value Accounting is new even on international basis. We have not seen the impact, precedence, weakness of such accounting standard implemented in other country. Are we too early to jump into the bandwagon?
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Sunday, January 08, 2006
I was outstation
TechnoratiTag:Business Commentary competitive Economics Economy Malaysia Opinion finance
Friday, January 06, 2006
Bumiputra at SJK(C) Sin Chung in Kepala Batas, Pulau Pinang


We do not lack of bumiputra study in "Sekolah Jenis Kebangsaan" to improve their competitiveness.
With the government policy not to construct new chinese school. Chinese have to compete with non chinese to obtain a place to study in Sekolah Jenis Kebangsaan.
Yet, a developer obtain a court order to demolish one of the limited available Sekolah Jenis Kebangsaan.
A lot of pupil are crying when their school is being demolish. Including bumiputra pupils, Mohd Nazran Yahya, Mohamad Faizal Jamil and their mother Rosnah Said.
Government please protect a "non-Wawasan School" that promote national unity!
Update : Developer ordered to stop earthworks around school
Oriental Daily reported on 7 January 2005 that the school has 46 pupils, of which 18 is bumiputra
Related link : http://chiakc.blogspot.com/2006/01/blog-post_11.html#links
TechnoratiTag:Business Commentary Malaysia News and politics Opinion Politik Social
Thursday, January 05, 2006
Outsourcing Vs Partnership
However, for chinese or asia culture. This always doesn't work.
Indian community like to do small business. They operate their own newspaper retail outlet, a Money changer, a mamak stall, or which we call "Kacang Putih" business. Such small business approach resulted a statistic showing they control less than 3% of Malaysia's economy. Which I feel is not true.
Chinese in Malaysia, Hong Kong and Taiwan (not Singapore) are more entrepreneur. Their partnership is less successful than outsoucing.
I heard a story from Hong Kong:
Two of a long term friend form a partnership. One partner is good at marketing and like to deal with people. The other is good at production. As they complement each other skill. Business has prosper. Then, relationship between partner turn sour when they have dispute over remuneration of partners. Later, the situation become worst when one partner hire a relative of him under to work in the partnership, without the consent of the other. They have dispute over the staff salary as well. Eventually, they have a great fight and they agreed to cease the partnership and operate on their own.
Business turn bad after that. The one who is good at marketing unable to hire a good production staff. Thus, the quality of the work was not as good as before. This has turn customer away. Whereas the other who is skillful in production unable to get enough business as marketing is not his strength. He might be not have the contact or unable to negotiate the best price or unable to provide the good customer service as before. Business turn bad and their separation is prove to be a lose-lose situation.
However, as both of them has bad experience with each other. It is unlikely they become partner again as they have dispute on hiring and numerous other matter.
One of the partner happen to know a amateur business consultant and he seek his advice. The amateur consultant advice them to work together, but not in partnership nor in same company.
They operate under two company. Which they can hire their own staff and control their own expenses. However, they operate as a separate independent business entity. They can work in the same office or have their office next to each other.
One company with good marketing skill get the business. Then they outsource the work to another company at an agreed price. The other company concentrate on production and quality control.
Initially, the partner sceptical about the suggestion. But when he approach the other partner who has quarrel with him before. The other partner was just figuring how to solve the problem of declining sales. He immediately agree to cooperation again.
After few months of operation. Business has prosper again.
This indicate that sometime, outsoucing is better than partnership.
But how to scale the business?
Then you have to read Robert T. Kiyosaki's "Rich Dad, Poor dad" Series. You have to read "Before you quit your job" first. Then, if you want more indept advise. You have to add "The ABC of Building Business Team that Win"
Update: In Taiwan, outsourcing and small business approach has turn the country into on of the largest business cluster in personal computer industry which able to overtake South Korea giant like Samsung LG and Hyundai
Link : Ehlite Junior.com
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion
Who heard Satsun before in Sarawak?

The product was manufacture by CHS Medical (M) Sdn Bhd and they claim the product has been in the market for well over 48 years, primarily in the Borneo states especially Sarawak and with recent expansion the product also can be found in Brunei, Sabah, Singapore and Hong Kong.
They claim the reason the said oil is relatively unknown in the west Malaysian states was due to the fact that in the past the production, which was a “back yard” type operation, was small. Whatever that was produced was all taken by the Borneo States, leaving little or no surplus for sales to the west Malaysian states.
Is it true?
Those who have info on such product. Please email to me at:CompetitiveMalaysia@gmail.com or post a comment on my blog.
Your feedback is much appreciated.
TechnoratiTag: Business Malaysia finance
Monday, January 02, 2006
Loser in Malaysia stock market in year 2005

1. Datuk Chin Chan Leong, Fountain View Development Bhd
Fountain View Development shares prices fell from RM5 to 40 sen in the space of three weeks, wiping out RM1.8billion in value and triggering mild panic amongst investors, stockbrokers and banks. The fall of shares price has affected the business of Bukit Cerakah project of the company. His case with Securities Commission is pending.
2 Tan Sri Datuk Lau Ban Tin

Both BIG and Ngiu Kee shares price hit limit down after Fountain View incident above.
Tan Sri Lau Ban Tin theaten to sue the bank of withdrawer of facilities but no news after that.
Being a property developer and control an industrial gas company. This is just like the beginning of IOI group where IOI was a industry gas company at one point of time. The limit down and force selling definitely put his ambitious to become another IOI group on hold.
3 Tan Sri Chan Ah Chye, Talam
Tan Sri Chan Ah Chye of Talam Group, is still in negotiation to disposed of part of his shares in Kumpulan Europlus Berhad to IJM Group. However, his private company Intelbest Sdn Bhd is still recruiting staff agressively since the first half of 2005! Thus, I feel is still too early to write him off.
4. Teoh brothers of Kumpulan Emas
Teoh brothers, who started from Summit Square project in Selayang has control a few company under Kumpulan Emas Group. Plaza Summit in Subang and South City Plaza in Seri Kembangan are the group properties. Kumpulan Emas has an 11.28% stake in property developer Meda Inc Bhd and a 23% stake in SEGi. In June, the group disposed of its 32.48% stake in water engineering firm Salcon Engineering Bhd. Salcon is considered as one of the group's best asset.
On Nov 11, Datuk Hii Chii Kok, the chief executive officer of SEG International Bhd (SEGi), announced that as at Nov 8, he owned 32.85 million Kumpulan Emas shares, or a 5.05% stake.
On Dec 23 2005, Kumpulan Emas Bhd shareholders will vote at an annual general meeting on a proposal to rename the company EcoFirst Consolidated Bhd.
5. Datuk Johari Abdul Ghani,
Ex-Managing Director,
KFC Holdings and QSR Brands
Datuk Johari Absul Ghani, depite losing control of fast food KFC Holdings Bhd which hold Kentucky chicken franchise in Malaysia, still control CI Holding Bhd. Which hold pepsi franchise in Malaysia.
Update: Finanicial Planning Malaysia
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Saturday, December 31, 2005
Happy New Year
I wishes all my reader
Happy New Year
May all your wish come true in 2006 and have a very blessed New Year.
Top 10 visited Page in Competitive Malaysia in 2005:
1. Home page without www : Http://CompetitiveMalaysia.blogspot.com
2. Home page with www : Http://www.CompetitiveMalaysia.blogspot.com
3. Most Competitive Bumiputra CEO In Malaysia
Thank you Global Voice Online for providing a link to that page
4. Ananda Krishnans empire missing link.
Thank you 49 Media for providing a link to that page
Thank you Oon Yeoh for providing a link to that page
6. Why gangterism and bullying in school become more serious.
I have numereous search for this page from Mara for over 2 months. I am not sure it is from student or lecture.
Thank you GST Malaysia for providing a link from their home page.
8. Racists Opinion in Prime Minister of Malaysia's website.
Thank you UMNO-reform 's website for providing a link to that page.
9. GLC classified as non bumiputra
10. Others
Top 3 referrer to this website in 2005
1 Bookmark
Updated: Top 10 countries visiting this blog in 2005
1.Malaysia 78.28%
2.United States 7.89%
3.Singapore 3.52%
4.United Kingdom 1.91%
5.Australia 1.69%
6.Korea (South) 0.75%
7.Canada 0.70%
8.Japan 0.67%
9.Other 0.52%
10.Germany 0.41%
South Korea rank no 6, but I have received a loyal click from Hanyang University, Korea for the past 9 months. I am not sure he/she is a student or a lecture or professor.
Happy New Year to you
TechnoratiTag:Business Commentary competitive Economics Economy Malaysia News and politics Opinion Politik finance
Friday, December 30, 2005
Condolence to Tan Sri Dr Noordin Sopiee

This morning newspaper have one news that attracted my attention. Chairman & CEO of Institute of Strategic and International Studies Malaysia(ISIS), a thinktank of ex-Prime Minister Tun Dr Mahathir, Tan Sri Dr Noordin Sopiee has pass away.
My blog name, Competitive Malaysia, was inspires by ISIS goal to make Malaysia strategically competitive.
The Star published a comment written by SOO EWE JIN:
Tan Sri Dr Noordin Sopiee, though schooled as an economist and political scientist, he cut his teeth as a journalist, starting out as a leader writer in the New Straits Times, eventually becoming the group editor-in-chief.
But it was as DG of ISIS (subsequently its CEO and chairman), that Doc would make his biggest contributions to the country......
...Noordin was profiled in various publications but he was especially proud of one profile with the headline The Man who would be Kissinger. Dr Noordin liked the headline.
Read the full article hereDr Noordin is also a columnist with The Edge in Malaysia, Yomiuri Shimbun and Nihon Keizai Shimbun in Japan and Singapore's Business Times.
It is his article published on The Edge that I never miss. However, he rarely write after he has promoted from Director General to Chairman & CEO of ISIS.
He is one of the architect on Malaysia Multimedia Supercorridor (MSC).
I remember in one of his article he mentioned that Malaysia is a production economy in term of economy indicator. Like percentage of manufacturing on GDP. Despite we do not have a strong manufacturing brand like Sony, Samsung, Ford, General Motor, Acer.
He advise Malaysia to shift from production economy to knowledge economy. That was before China boom that threaten the Malaysian's manufacturing industry.
Majority of the ex-Editor-in-Chief of New Straits Times was holding important position in Government. Including controversial MAS chairman Datuk Dr Munir Majid.
Out going Editor-in-Chief Datuk Kalimullah Hassan who will be joining ECM Libra as a merchant banker is the man to watch. Merchant Banker usually become Corporate Planning/Finance Manager in corporate world is a position that provide strategic planning for a company. The position is far more important than Finace & Accounts Department.
I have a short period in Corporate Planning Department of a public listed company. However, I feel each month in corporate planning department is equivalent to 1 year experience in Finance & Accounts Department.
Thus, Datuk Kalimullah Hassan might be the strategic planner for our present Prime Minister Pak Lah, who is also a finance Minister 1.
NST:Passing of a scholar and an intellectual
Datuk Jawhar Hassan, director-general of ISIS:A burning passion for just about everything
Jeff Ooi: Dr Noordin Sopiee
TechnoratiTag:Business Commentary competitive Economics Economy Malaysia News and politics Opinion Politik finance
Tuesday, December 27, 2005
My comment on insurance policy
Hello Peter,
RE: a loyal reader of your 'Competitive Malaysia' blog
My name is Fongkai and I must confessed your blog has impressed me so much that I thought I should ask for your opinion when it comes to financial management. I hope you can enlighten me with your knowledge about buying an insurance. From your stance this might be quite awkward, but I trust your experience and intelligent will be able to help people, like me to know about risk management. It happened that after I read-
financialplanningmalaysia.com
I havent got a clue as of what sort of policy i should go for. Term life seems to be feasible for now. But a whole-life policy should be a sound investment in the long term. An agent also informed me that to ask for a hospitalization claim as a term life policy holder will be somehow difficult. Point is I haven't got a clue as of to what extent the statement is being truthful.
My age now is 25 and only realized a sound financial management starts with risk management. I shall bevery grateful should you able to pass on your knowledge to me.
Thank you,
Fong Kai
Actually I have bad experience with insurance company. At the age of 25, your risk is low and premium is very low. Actually you do not need insurance unless your parent has retired.
When you grow older. You need insurance coverage if your spouse depend on you or for your children. However, your risk is higher, premium have to be higher.
When you are young, income is low. Premium you can afford is low. When you are older, income is higher, premium you can afford is higher.
Risk management is required when there is a risk. When your parent is not depend on you or your spouse is not depend on you. You do not required to insure.
Now, ex-Finance Minister Anwar Ibrahim has abolish Inheritant Tax. Thus, business owner also do not required to to insure their life for descendant to pay tax. Previouly, when a business owner pass away. The descendent need to have cash to pay to government for inheritant tax. Or, they have to disposed of their property(House) or part of their business. This cause business fall to other partners' hand. Thus, an insurance cover is required. But this no longer the case.
For accident, you have Socso. If you feel not secure. You can add some PA insurance on your own. However, Group PA is cheaper, a lot of company do buy a group PA for their whole employee. If your company have cover on this or your credit card company has cover for you. You do not need it either.
What we need is serious illness or what you said hospitalization. However, government is planning a National Health Policy. Thus, you might not required it after few years.
Unless your parent or your children depend on you. You do not have risk to cover.
Insurance against spouse is a risky move. In this uncertain world, you might get murder if you have such insurance like what appear on movies. You do not know whether your spouse got extra marital affair or not. Or he or she might need the money. You might get murder if your spouse have ulterior motive. Or have heavy debt with loan shark. Loan shark might master mind such murder. I really not advise people to buy life insurance unless is really necessary.
I heard a story that a father who went missing when he is on business trip. When the ship he take has sink like what happen to Titanic. After more than half year of missing. Government declare that he is death. Thus, their wife and children able to get a large sum of insurance claim. Children are happy as they able to buy a brand new computer, their dream toy etc.
However, their father actually is safe by a another ship and only in contact with them after 9 months. Thus, everybody is happy that their husband and father is save. But how they feel???They have to return the large sum of insurance they received. A happy event become ....Not very happy. Oh, why buy such insurance?
I have buy a life insurance policy before . With my financial knowledge. I choose a company that would not fail in 100 years (That is important. Imagine if the insurance company fail earlier than you) with good management and investment track record. The company is a blue chip company listed on oversea stock exchange now.
However, I venture to business once. When my business need finance. I borrow money from my policy. I went to the insurance company to enquire what is the maximum I can borrow. Let say they told me I can borrow RM9,460. However, their executive advise me to borrow RM9,000 only. The balance RM460, although not much. You unable to take back the money only unless you continue to pay your premium to continue your policy. I need money to finance my business then, thus I never continue to pay the policy and thus the policy lapse. Imagine, such a big company with good reputation, but they train their staff in such an unethical manner! What about other insurance company with less reputation?
I calculated after that RM9,460 is approximately of what I have pay over the years. Not even able to cover interest. But I take out only RM9,000 eventually. I make a loss in such investment.
Thus the above blog is correct that insurance is merely a risk management tool but definitely not an investment tool.
If you really want to buy an insurance. Identify your real "risk" area. Usually, if you are a boss and not cover by Socso, just get a Group PA for your whole company with a "reputable" company. Reputable mean they have a record of payment when accident occur and pay it fast. Not after few years of investigation.
If you need hospitalization policy. You might ensure you insured with reputable company as well. Company have bad payment record or delay in payment have to be excluded.
On tax planning. If you feel that your salary able to increase very fast. Where your 9% EPF employee portion would more that tax deductible ceiling. You unable to deduct your tax eventually as your EPF deduction has fully utilize such deduction. Only insurance for hospitalization and education is separately deductible from EPF. Of course, if you are low income earner, that is another case.
As every individual have different risk profile. Insurance requirement is different. For me, I feel I do not need a policy. You have to access yourself differently to suit your situation.
Update : Nanyang
TechnoratiTag: Business Commentary Economics Economy Malaysia Opinion finance
Monday, December 26, 2005
DiGi and it CEO Morten Lundal

I like to read The Edge. However, I might miss some issue because of sold out in my area or some other reason. However, I never miss it year end issue before. It provide a review for whole year in 2005 and for planning next year.
In year 2005's year end issue. I guess the most mentioned name and company on the weekly is DiGi and it CEO Morten Lundal.
First, under Best Analyst of the Year. One of the analyst the make the best call is Macquarie Research analyst Premanand Jearajasingam's buy recommendation and price target on DiGi.Com Bhd.
Premanand Jearajasingam had forecast a RM7 fair value for DiGi as early as March 30, 2005. Three week after DiGi fired the first salvo i the postpaid war on March 7. At that time, DiGi was trading at RM5.45.
Premanand had pegged DiGi's fair value at RM8.20 as early as Aug 4 while most conservative analyst only agreed DiGi shares are worth more than RM7 after DiGi announced it third quarter result and capital repayment plan on Oct 26.
Since Oct 28,2005, his price target for DiGi.com stood at RM9.20. Will he be proven right again?
Second, under 10 Companies to watch in 2006. DiGi.Com Bhd was one of the listed company that have a profit and turnover of growth for the last three quaters. Other than Macquarie Research analyst Premanand Jearajasing. Similarly bulish is Morgan Stanley analyst Navim Killa with a RM9.10 target and UBS analyst Syed Razif Al-Idid's RM8.80.
Shareholders could be looking at a dividend of around 35 sen a shares next year. This translates to 4.4% potential yield at current price level or 4% as long as its shares price does not exceed RM8.77. write The Edge's Cindy Yeap.
Then there is the proposed 70 sen per share capital repayment which shareholder will meet on Jan 24, 2005 to pass the proposal.
Third, DiGi.com CEO Morten Lundal was name one of the Newsmaker 2005. Lundal's 17 months in office have delivered earning that beat analyst's expectation for at least two quarters in 2005. His announcement in October that DiGi will pay it maiden dividen folowing a 70 sen a share capital repayment has sent share price up 31% to RM8.10 since Oct 26,2005.
The largest issue to watch next year is the decision on the third generation (3G) spectrum award in February 2006. DiGi is seen as the frontrunner for a 3G spectrum.
DiGi's successes under Lundai's stewardship include firing the first salvo in the postpaid price war that force domestic long-siatance phone rates down.
Fourth, under 20 CEO we admire. DiGi.com Berhad CEO Morten Lundal again name as one of the 20 CEO we admire in 2005 by The Edge. Morten Lundal was former consultant with Gemini Consulting and AT Kearney before joining Norwegian telecommunications company Telenor ASA.
Telenor ASA, a company control by Norway government was reputable of it high tech open concept headquarter. DiGi's new corporate headquarters in Shah Alam - a smaller copy of Telenor's award winning open concept - is in its final stage of completion
TechnoratiTag: Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Friday, December 23, 2005
Oon Yeoh on Firefox
A lot of people try to break the Monopoly of Microsoft in software industry to bring in competition so that consumer able to enjoy cheaper price in software.
Apple's Mac try it but not successful, Netscape try it but failed, and a lot of open sources software including Java also try it but not very successful.
Now a new browser that is available for free in the market call Firefox. Oon Yeah has done a review on it since it launch. Among the advantage of FireFox over Microsoft's Internet Explorer state by Oon Yeoh include:
 Multiple searches: From a toolbar at the top of the browser, you can get instant access to several search engines. Firefox also allows you tocustomizee the browser so that typing the word "book" followed by a title automatically performs a search on Amazon. com for that book;
 News feeds: Firefox supports really simple syndication (better known as RSS), a technology for automatically pulling headlines from news sites and weblogs so you won't have to check them manually. When Firefox sees a website that offers an RSS feed, a little orange tag lights up in the lower right-hand corner of the browser. Clicking on it gives you a new bookmark that automatically changes as the content of the website changes. I know this probably sounds more complex than it actually is, but once you try it you'll love it, especially if you're a news junkie.
 Tabbed browsing: With IE, if you want to visit a new site without closing the old one, you have no choice but to open up a new window. This is a problem for someone like me who likes to load up to 10 sites simultaneously (that means opening up 10 new windows!). Tabbed browsing makes the new windows appear as small tabs at the top of the existing window (think of it as windows within windows), making it super fast and convenient to switch among various websites. Again, this probably sounds more complicated than it really is, but trust me, you'll be hooked once you try it.
Read Oon Yeoh full analysis here
If you want to try better technology. You can download it. If you are not that tech savvy. You can still download it simply to reduce monopoly power of Microsoft so that software and computer price can be lower in the future.
Download it by clicking the banner below of the page
TechnoratiTag:Asia Business Commentary competitive Economics Economy Malaysia Opinion technology
Thursday, December 22, 2005
Petrol trade change from USD to Euro reason of US attack Iraq
On November 2000, Iraq had change the currency of petroleum trade from US Dollars to Euro. Later, Iraq change all USD 10 billion UN reserves from USD to Euro.The Bush administration's unreported aim was to prevent other OPEC countries to follow Iraq to change currency of petroleum trade from USD to Euro. Iraq fate has been decided at that point of time.
USD has dominant the petroleum trade since 1845 and has become a currency of international trade than. In 1990, 70% of foreign currency reserve in the respective country in the world was in US Dollar.
However, with the widening of Euro zone and the fact that 45% of OPEC import was from Euro zone. Petrodollar face a lot of pressure.
"If you understand history of petroleum. You understand 90% of war history" He said.
First world war was cause very much by controlling petroleum and consumption of petroleum.
During second world war. Russian attack by German was because of petroleum. Japan attack US because of petroleum embargo by US.
Mr William R. Clark. Author of “PetroDollar Warfare: Oil, Iraq and the Future of the Dollar”, has received two Project Censored awards for excellent in journalism, first in 2003 for his ground-breaking research on the Iraq War, oil currency conflict, and U.S. geostrategy and again in 2005 for his research on Iran's upcoming euro-denominated oil bourse. (Censored 2004: The Top 25 Censored Stories, Seven Stories Press). He is an Information Security Analyst at Argosy Omnimedia, and holds a Master of Business Administration and Master of Science in Information and Telecommunication Systems from Johns Hopkins University. He lives in Rockville, Maryland.
Link: Petrodollar Warfare Oil, Iraq and the Future of the Dollar
TechnoratiTag:Asia Business Commentary competitive Economics Economy finance Malaysia News and politics Opinion Politik World
Wednesday, December 21, 2005
Outdated of knowledge and new IFRS -2
Traditional method of value a company using Net Tangible Assets (NTA) has been outdated. World richest person Bill Gates's Microsoft doesn't own any factory nor his company own many real estate or other form of tangible assets. How his company market capitalization enable him to become richest man in the world. His company assets are in intangible form ....... Copyright of software and human capital.
Thus, how valuation of company in new economy become a challenge of accounting profession.
For the last one year. You might saw some 40 something part qualifying accountant, enroll to the college to study their professional qualification again. Those who qualified earlier, will have all their knowledge obsolete on 1 Jan 2006 in Malaysia( Other countries are much earlier).
Today, I read an interesting post on Jeff Ooi's blog. A guest blogger who is a Chartered Accountant member of MIA and ICAEW and claims to know a thing or two about accounting standards write on an argument on who should absorb the cost of applying new accounting standard.
For me, this is a non issue. If you hire a newly qualified Accountant. He has been study the New International Financial Reporting Standard (IFRS) over the past few years and he able to come up with the new accounts complying with the new standard with no extra cost.
For old Accountant. Your knowledge is obsolete. Either you have to go back to your college or you have to attend some Seminar to update your knowledge.
The world is changing.
Valuation of company and intangible assets
From production economy wherenet tangible assets is important like General Motor or Ford. Now the biggest company list dominated by new economy company like Microsoft, where no factory of real property. Where company main property is copyright and staff / human resources. How the accounting report reflect the large market capitalization of share price?
Fair value accounting
Then, with all the new financial intrucment, like derivative, option, future contract, bond and globalization which cause cross border investment more easily done than previously. All this increase financial risk and foreign exchange risk of a company. Company exposure to such risk can bankrupt over night like Baring, Enron, Worldcom. How financial statement or company accounts reflect such risk to give earlier warning to the management.
Thus, a new financial standard is needed to reflect such risk in the accounts and to give earlier to the investor and the management. This call "fair value" accounting compare to "historic" cost accounting. A large part of the new standard is just to transfer from historic accounting to fair value accounting. Once understand this concept. It is easy to understand why that particular standard need to change.
In historic cost accounting. Profit is more stable. Like if property cost RM100,000 to buy. It would recorded as RM100,000 every year, maybe some depreciation. However, in fair value accounting under new accounting standard. You have to determine the fair value of the property every year. If the market value of the property diminish to RM50,000. You might have to write off RM50,000 and your accounts would have RM50,000 more than accounts prepared by old standard. If the property in foreign country. Devaluation of currency also have to take into accounts. Thus, profit and loss will fluctuate more than old accounting standard. In a Asia financial crisis situation like 1997, where Malaysia currency depreciated. It will reflected in company accounts immediately if company have EuroBond or foreign currency loan.
New Remuneration Packages
Now a lot of company give Employee shares option (ESOS) as part of the remuneration packages other than salary. Most company just recorded as additional shares being issue. However, this is a cost to the company like salary. World second richest man Warren Buffet does not like the old accounting treatment. Thus, New accounting standard also provided a standard on this new remuneration packages.
Radha K Vengadasalam example must be for non-listed company or small and medium company. Public listed company have to do Quarterly report now and cannot relied on auditor until year end. They have to make announcement every quarter.
As I have mentioned in my previous post. Passing an exam too fast might not be at your advantage in this knowledge economy. Knowledge obsolete faster than you can imagine. Thus, A Continue Professional Education (CPE) is required if you pass too fast.
However, I feel after few years. Every old Accountant can master the new accounting standard like old Accountant can used spreadsheet like Microsoft Excel now.
New accounting standard like fair value accounting have not tested it effectiveness as it almost change and implemented immediately worldwide. Any weakness in the system compare to old standard have not tested in practice.
However, this historic transformation, which may affect the country's economy if not carried out successfully, should be taken at a wider scale to avoid further public criticism. Failing to respond to users' feedback may only arouse suspicion and result in a higher resistance to change.
Write Dr Hassan Ali , associate professor with the school of business, Swinburne University of Technology (Sarawak campus)
TechnoratiTag:Asia Business Commentary competitive Economics Economy Malaysia Opinion finance Shares Stock Market
Tuesday, December 20, 2005
South Korea, Another `BRIC' in Global Wall
That's the upshot of a new Goldman Sachs Group Inc. report on the so-called "BRICs'' economies, or Brazil, Russia, India and China.
next generation of BRICs :
Now, O'Neill and his global team are offering a glimpse at the countries that might constitute the next generation of BRICs. Dubbed the "Next Eleven,'' the list includes Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam.
Oh, Malaysia is not on the list.
However, Indonesia is on the list. The is still a hope from BRIC to IRIC.
However, O'Neill said one stands out in Asia: Korea. Asia's No. 3 economy,is better placed than most others to realize its potential due to its growth-supportive fundamentals.'' (Aside from Korea, Goldman Sachs' other favorite is Mexico).
If South Korea able to elevated and become BRICK. East Asia Submit held last week, which Russia try to join will form a strong triangle among Russia-China-Korea. If South East Asia country able to change from BRIC to IRIC. Then BRICK would become IRICK. Which mean Indonesia, Russia, India, China and Korea....IRICK comprises all countries than attend East Asia Submit last week.
I have benchmark Vietnam with Mexico previously. Thus, Vietnam also have great potential to become second tier develop country. With Philippines become the third tier. Malaysia, although not on the next generation eleven list, but surrounded by three develop countries....Indonesia, India, Philippines, and Vietnam farer a bit might tend to benefit. It is time we try to plan how to take advantage on such situation.
Update: Global Voice Online
TechnoratiTag:Asia Business Commentary competitive Economics Economy finance Malaysia News and politics Opinion Politik Shares Social Stock Market World
Monday, December 19, 2005
WTO resume in Geneva in January.


It was a traumatic week for the people in Hong Kong last week when thousands of citizen groups held peaceful demonstrations and hundreds of activists and farmers staged protests on the streets as the World Trade Organisation held its ministerial conference.
The WTO obviously attracts lots of passion. But the big decisions were not taken at Hong Kong and the talks will resume in Geneva in January.
The battle will resume in January as the WTO reconvenes after the Christmas break.
And another ministerial meeting may be needed within three or four months into the new year.
The European Union (EU), the stumbling block to the negotiations to expedite export subsidies' elimination, should start reducing a substantial portion of these subsidies before the 2013 deadline, International Trade and Industry Minister, Datuk Seri Rafidah Aziz said Sunday.
Earlier, on 9 December 2005, Joseph E. Stiglitz, professor at Columbia University, was the recipient of the 2001 Nobel Prize in economics stated that :
"In the end, developed countries got what they wanted, and developing countries were told to be patient: Eventually, the developed countries would fulfill their part of the deal. Even as the rich countries urged developing countries to make quick adjustments, they claimed that they needed a decade to make the transition to a quota-free textile regime. In truth, they were just buying time; they did nothing for a decade, and when the quotas finally ended last January, they pleaded that they were still not prepared, and thus negotiated a three-year extension with China. "
Professor Joseph E. Stinglitz coincidentally same view point with me here. Read what he has wrote.
Link : KickAas
Updated: Six day in Hong Kong: Poor countries get raw deal one again
TechnoratiTag:Asia Business Commentary competitive Economics Economy finance Malaysia News and politics Opinion Politik World
Saturday, December 17, 2005
Nazri, Noh Omar and cabinet reshuffle


The dust is gradually settle on this busy week. First Asean, Asean+3, East Asia Submit. Then Global Peace Forum and then WTO meeting in Hong Kong. Minister of International Trade and Industry Rafidah Aziz busy handle Asean submit and then WTO meeting to end today in Hong Kong.
While media has to cover all the above plus recent strip and squats issue. It is a best opportunity to announced cabinet reshuffle to caught every one by surprise.
Whether cabinet reshuffle happen soon or later, it is interesting to analyze the fate of Deputy Internal Security Minister Noh Omar and The Human Rights Caucus chairman and Minister in the Prime Minister's Department Datuk Seri Nazri Aziz.
Media like to attend press conference call by Noh Omar previously as he usually have breaking news for media especially on corruption. He support strongly Pak Lah policies especially on eradicated corruption. Media initially expected Noh Omar would be promoted on coming cabinet reshuffle.
Whereas Minister in the Prime Minister's Department Datuk Seri Nazri Aziz have bad track record as he has investigate by ACA when he was a entrepreneur Development Minister. . Political analyst expected Nazri might be drop in the coming cabinet reshuffle.
However, what happen recently have change all the above.
Noh Omar express displeasure when the lady from China come to Parliament to look for Nazri who is chairman of The Human Right Caucus rather than him as a Deputy Internal Security Minister. He pay a price on this emotion when he choose to protect his own subordinate by asked foreigners to go back to their own country if they find the Malaysian police cruel. He later offend the media by mentioning that media has misquote him.
He was later reprimand by the Prime Minister who is also Internal Security Minister (Noh Omar direct superior) and Finance Minister 1 (Who know the important of tourist from China on our country economy).
Nazri did a good job as a Chairman of The Human Right Caucus. His act was accepted by opposition and whole Malaysian, and most important, in line with Pak Lah policy. He is expected at least to keep his Minister job, if not promoted to more important Ministry.
Home Minister Datuk Azmi Khalid, who is said handle the repatriations of Indonesian worker inappropriately and cause mini recession was assigned to head the delegation to China to explaine to the government on the incident. Thus, out of the three Minister who was unelected as a UMNO central committee. He appear more safer than the other two.
It is interesting to see what will happen then!
Update: When I write the above article. I so not know The Sun have published an interview with Datuk Seri Nazri Abdul Aziz. Datuk Seri Nazri Abdul Aziz give explaination on ACA investigation, his effort to reform parliament by forming more non partisan caucus. I have more respect on him after reading such interview. As a human, I understand his explanation on why he loss temper on M. Kulasegaran case. However, such incident really sent bad image on him if he never give explanation. A leader should not only be fair and reasonable but also seen be fair and reasonable. Hope he improve in such area in the future. Read the interview here
TechnoratiTag: Malaysia Opinion finance News and politics Opinion Politik Shares Social
Friday, December 16, 2005
Strip and Squats: The Real Issue
The woman said she and the other Chinese woman produced their passports, but the policeman was not convinced that the documents were genuine.
Using a hand gesture, the policeman allegedly demanded RM500 from them.
“Since both of us were carrying valid passports, we refused to give the policeman anything. We were then taken to the police station,” she said.
Thus, they werwe taken to police station to do strip and squats because they refuse to pay corruption.
Another Iranian also claim police take RM100 from his wallet.
Thus the real issue was Corruption. It is suprising that the Commision's objective does not mentioned anything about Corruption.
I remember a lot of people said 'It takes two to tango'? The giver and the taker is guilty. Thus, the fault is not entirely at the taker (police). Those who mentioned this might imply that all Singapore citizen is not giver but all Malayian do.
However, what is the consequences of not pay? Strip and squats or get sue by a police?
When the women on the video clip turn out to be a Malay. Most BN'sMP think it is less serious! In fact, it is more serious as police is abusing your own race. Every Malaysian would not be spare. Why BN need Teresa Kok a DAP member to protect your own race while BN's MP choose to protect the police and not the rakyat?
video gadis lokap 1
Related Link: Ear Squats: The Real Issue
Other Post: Police should under state government!
TechnoratiTag: Malaysia Opinion finance News and politics Opinion Politik Shares Social
Thursday, December 15, 2005
How to discourage culture of poison pen letter
This has confirmed when Datuk Kalimullah Hassan the group editor-in-chief of The New Straits Times Press (M) Bhd (NSTP) tell The Edge the reason he is stepping down is as follow:
"Such were his early days in a company that had succumbed to the Malaysian trait of complacency and back-stabbing. Change means having to rework the system, which in turn equates to hard work. Those not willing to change were moved. New blood was brought in from outside. Not surprising then that nasty e-mails and SMSes about the changes he was pushing through wound their way into his office as well as Internet websites, which naturally affected him on a personal level. "
One of my reader "Old Man"(Note : Not Good Man) ask on one posting: Can you give some advise on "office politics?"
I never response to that post as I have no exact answer on it and I feel I have something more important to post than discuss on such topic.
Some blogger choose to published poison pen letter they received. The worst is the recent racist opinion in Prime Minister of Malaysia's website which will create racial crisis.
I feel that bumiputra have to change this culture. They might follow unemployed chinese to work overseas to slove problem themselves rather than spend their time writing poison pen letter. This would improve their own competitiveness and whole Malaysia competitiveness.
Thus, I choose to write about this which I have read from Oriental Daily.
When email was just introduced. An Executive Chairman of the company want to encourage the used of technology. Thus, he published his email address to the whole company, and mentioned that every employee regardless of their position can send email to him and he promise all report would be taken care.
He was unexpected that his email was floated with poison pen letter. The volume become unable for him alone to handle. Thus, he invite an internal auditor to help him to handle all the complaint. After a while, things become out of control again. Thus, the internal auditor eventually have to handle like below:
1) All Anonymous email will be ignore. You must quote your name if you want to make a complaint. What if they complaint their superior ad their superior know who they are? But, if you do not trust even the Executive Chairman, the highest people in the company. You must have something to hide. Your complaint will be ignore.
The above have reduce a lot of poison pen letter received. But the volume still remain large. It is difficult to check every one in detail if just internal audit department is involve. Thus, another method is being used:
2) You have to compare the work performance of two person. If the person who send in the email usually perform better than the person his complaint. Then his complaint is likely to be true. If a person usually have bad performance complaint about a person usually have good performance. Then, this is more likely an office politic. His complaint will be ignore.
Thus, if you want to make complaint. Work hard to have good performance. Then people in the company will spend more time to work hard rather than spending their time writing poison pen letter.
Hopefully, this will promote hard work culture rather than back-stabbing culture.
TechnoratiTag: Malaysia Opinion finance News and politics Opinion Politik Shares Social
Wednesday, December 14, 2005
TAJUK: 'BERSATULAH KAUM CINA'
Kita semua kaum Cina di mana sahaja kita berada mestilah berbangga dengan bangsa kita, samada Cina Amerika, Cina Singapura, Cina , Taiwan dan Cina Malaysia. Kita mestilah mengekalkan identiti kita. Di Malaysia, kita mesti memberitahu anak-anak kita dan mengajar cara-cara mereka perjalanan halus. Setakat ini oleh kerana kedudukan kita, kita tiada pilihan untuk memilih kerajaan yang majoritinya dikuasai oleh orang Melayu. Tetapi kita sedar dibidang perniagaan dan perindustrian, orang Melayu tidak ada melainkan mengekalkan bangsa kita (Cina) sebagai unsur utama meninggikan ekonomi Malaysia dengan meletakkan keutamaan Bahasa Manderin atau Kantonis di dalam akhbar tempatan sebagai syarat penerimaan atau syarat kelayakan perlu. Maka orang-orang Melayu tentunya terpinggirdari bidang pekerjaan tersebut. Begitu juga kalau terpaksa kita ambil orang melayu kerja, kita pilih yang wanita melayu untuk cukupkan Kouta dan jangan ambil Lelaki Melayu kerana lelaki ini bersifat memimpi n dan ada wawasan tinggi lebih bersemangat kental dan berani tanya itu dan ini, kalau wanita melayu mereka agak lemah dan banyak menurut saje arahan kita. Jadi kita mengambil kesempatan ini atas kedudukan kita dan meminta hak-hak politik. Orang-orang kita yang bergiat di bidang pelajaran hendaklah! pastikan bahawa generasi yang akan datang tidak akan diajar segala pengorbanan orang Melayu, terutama sekali dalam pelajaran sejarah, Ilmu alam dan lain-lain mata pelajaran, baikpun di sekolah rendah mahupun di sekolah . Kita aujudkan dan hebohkan tentang maksiat dikalangan pelajar melayu agar kerajaan sekarang hentikan bantuan pada pelajar melayu dan juga pelajar kampung. Kita mesti mengajar anak-anak dan anak orang Melayu supaya mempunyai pendirian bahawa kejayaan itu bergantung semata-mata atas kebolehan. Untuk tujuan ini kerajaan Singapura yang kita harus banggakan kerana telah berjaya memecah-belahkan orang-orang Melayu dengan cara membahagikan mereka kepada banyak puak seperti Banjar, Acheh, Bugis, Mandaling, Boyan dan lain-lain. Dari kesannya jiwa rancangan ini, orang Melayu yang dulunya merupakan 69% daripada penduduk Singapura, sekarang hanya tinggal 10% sahaja. Sekarang mereka tiada pilihan melainkan memuji kerajaan Singapura kerana memberi mereka satu kestabilan, keadilan dan harapan untuk masa depan iaitu mana-mana bentuk yang kerajaan suka dan fikirkan, pasti mereka terima, sebabnya orang Melayu di sana tiada mempunyai suara lagi dan mereka akan tetap menemui kegagalan. Sebagai orang Cina tulin, saya juga berbangga dengan cara yang dilakukan oleh Ketua Menteri Pulau Pinang untuk memecah belahkan orang-orang Melayu di sana. Beliau telah berjaya mengambil tanah-tanah orang-orang Melayu dan memajukannya sebagai kawasan perumahan dan perindustrian (dalam geran ada nyatakan 30% jenis pekerjaan sekurangnya mestilah dari orang Melayu tapi mereka beri jawatan seperti pengawal keselamatan dan operator sahaja, jawatan penting dan teknikal yg bergaji, RM3 ribu keatas semua dari Orang Cina kecuali melayu yang ada kepentingan bagi mereka itupun seorang dua saje). Oleh kerana harga rumah-rumah itu terlalu tinggi bagi orang Melayu, mereka tiada keupayaan langsung untuk memiliki rumah-rumah tersebut. polisi ini tidak sahaja harus dilakukan di Pulau Pinang, tetapi juga di lain-lain tempat , banyak orang melayu pindah ke Seberang Perai. , Mereka takut kalau Pak Lah naik, dia akan pindah Pusat kerajaan Pulau Pinang dari Komtar ke Kepala batas, kerana orang Melayu banyak disana, nanti banyak kemudahan dan aset harta akan meningkat dan orang melayu akan dapat faedah.Mereka sedang mempercepatkan agar pusat kerajaan dibuat segera di Bayan Bay, Sg,Nibung supaya hasrat untuk berpindah ke Kepala Batas dihauskan. Tujuan kita ialah untuk menguasai segala kegiatan perdagangan yang berkaitan dengan bahan makanan, enjin, bank-bank serta pertanian. Alasan yang munasabah perlu dicari dan dikemukakan kepada kerajaan untuk menaikkan harga barang-barang keperluan harian. Inilah yang kita akan terus gunakan untuk mendapatkan kekuasaan politik di Malaysia. Oleh kerana kita telah kukuh di bidang Antarabangsa, kita mesti menganggap bahawa saluran penyebaran am yang ada pada kita. , Setakat ini, dunia menganggap bahawa kerajaan Malaysia sekarang adalah anti Cina dan Pro-Melayu dan juga kita orang Cina ditindas. Kita sekarang telah banyak di Pulau Pinang dan ini markas kita , kita mesti kerjasama dgn orang kita di Singapura, supaya satu hari Pulau pinang boleh jadi milik kita secara yang tak disedari, banyak anak-anak didik kita telah diserapkan dalam kerajaan Tempatan, walaupun dalam ker ajaan negeri maseh dimonopoli oleh orang Melayu. Walau bagaimanapun, kebelakangan ini terdapat langkah-langkah yang diambil oleh elit-elit Melayu untuk mengubah gambaran ini dan menyuarakan apa yang sebenarnya berlaku. Kita sebaliknya mematahkan langkah-langkah itu sebelum ianya berjaya dilaksanakan.Dalam bidang politik, orang-orang Cina haruslah bergembira dengan perpecahan demi perpecahan terlibat di kalangan orang-orang. Kita tenggelamkan semangat orang melayu untuk menghidupkan Persatuan Melayu macam GPMS dll. Ini bahaya bagi kita, kita hiburkan pemimpim Mel ayu Negeri dengan apa yang dia mahu. , Saya sebagai orang Cina, sangatlah bergembira untuk memberitahu anda bahawa salah satu sebab penyingkiran itu adalah jarum dan tindak-tanduk teman-teman kita Gerakan dan MCA di dalam Barisan Nasional dan DAP dari luar. Sekarang tibalah masanya untuk kita menanam perasaan benci di kalangan orang-orang Melayu terhadap pemimpin mereka. Kalau kita bijak menjalankan operasi kita, kita akan berjaya mengasingkan Perdana Menteri sekarang ini yang terlalu jujur menjadi seorang ahli politik. Kalau kita orang-orang Cina bersatu, kita berjaya memecah belahkan Dato' Sri Dr.Mahathir Mohammad dengan Dato' Sri Anwar Ibrahim, kumpulan Abdullah Ahmad Badawi dengan Kumpulan Najib Tun Razak. Apabila British meninggalkan Malaysia, pemerintahan adalah di tangan beberapa orang Melayu pilihan. Kita ketahui bahawa pemimpin-pemimpin Melayu ini kiranya disukai oleh orang Melayu sendiri. , Pada keseluruhannya, mereka adalah orang-orang miskin tetapi bernafsu besar. Kita berkeupayaan memberikan apa yang mereka mahu. Kita akan terus mendapat apa yang kita kehendaki dari mereka. Kemudia sesudah kita memberi mereka secukupnya, kita akan mendedahkan mereka ini. Kita akan meminta mereka supaya dilucutkan daripada jawatan-jawatan mereka. Kita tidak akan rugi apa-apa dengan pemecahan itu, malah menguntungkan orang-orang Cina. Pekerjaan ini mesti dijalankan dengan licin, supaya intelek-intelek Melayu tidak akan menyedarinya. Setakat ini kawan-kawan kita di bidang perniagaan telah berjaya mengenepi!kan Dr Mahathir, Dr Abdul Rahman Yaakob dan semua pelampau-pelampau dalam UMNO termasuk juga sektor kerajaan .Kita orang-orang Cina harus bangga kerana orang-orang Melayu yang menerima rasuah ini telah diletakkan di badan-badan berkanun. Di UDA kita telah mendapat keuntungan yang banyak walaupun orang kita nombor dua di situ. Mereka yang tidak mempunyai pandangan yan g kuat akan terus sanggup menjual orang-orang dari bangsanya sendiri, kiranya mereka diberi apa yang mereka kehendaki dan kita pula hendaklah menggunakan kelemahan mereka ini untuk kepentingan diri kita. Kita akan gagalkan mereka dengan Tentera Darat, Laut dan Udara. Kita akan terus gagalkan mereka dalam polis. Kita telah buktikan bahawa tanpa kita orang-orang Cina, mereka tidak akan mendapat apa-apa maklumat berkenaan dengan kegiatan Komunis. Kita juga perlu bekerjas!ama dengan pergerakan dibawah tanah kerana tujuan kita adalah sama iaitu menguasai Malaysia.Kepada kita, caranya tidak lain sama ada menerusi politik atau perjuangan bersenjata. Satu perkara lagi yang patut kita gunakan adalah kebencian yang ada pada orang-orang Melayu dengan Sultan-Sultan mereka. Kita mesti menguatkan lagi kebencian ini supaya apabila orang-orang Melayu tidak mempunyai kepercayaan terhadap Sultan-Sultan mereka, mereka akan hilang suatu symbol perpaduan dan kita dengan mudah sahaja dapat membawa mereka kepada kemusnahan mereka sendiri .Untuk membuktikan apa yang saya katakan, sebagai seorng cina, kita tahu kerajaan Malaysia sekarang lemah. , Kelemahan ini terbukti dengan kegagalan mengawal harga barang-barang keperluan. Kita boleh menurun mana-mana cukai dengan menurunnya harga buah oren menjelang Tahun Baru Cina, tetapi kerajaan tidak berbuat demikian apabila tiba Hari Raya orang-orang Melayu kerana saya tidak pernah ingat harga buah kurma diturunkan menjelang Hari Raya. Pemimpin-pemimpin Melayu bertujuan untuk menolong orang-orang Melayu dalam rancangan Malaysia ke-7. Kita orang-orang Cina harus menunjukkan sokongan kita terhadap rancangan ini kerana kita tahu mereka tidak akan mencapai matlamatnya. Di sebaliknya, apabila mereka tidak memajukan rancangan Felda, kita orang-orang Cina akan mendapat keuntungan melalui pembinaan jalan, pembinaan bangunan, pembinaan rumah-rumah, parit, pemotongan pokok, penyediaan tanah dan lain-lain .Segala bentuk pembangunanakan membawa keuntungan kepada orang-orang Cina, yang juga bermakna kejayaan serta kekayaan orang-orang Cina akan bertambah.Sekarang ini saya percaya, orang-orang Cina sudahpun memegang 60% daripada kekayaan negeri ini termasuklah tanah. Sebaliknya orang-orang Melayu hanya memegang 3% berbanding 4% kepunyaan asing. Kita tidak boleh berpuas hati. Kita orang Cina hendaklah mendapatkan kekayaan orang-orang asing ini sebelum ianya jatuh ke tangan orang-orang Melayu. Taktik kita memberi saham kosong kepada orang-orang Melayu hendaklah disambung terus kepada orang-orang Melayu ini dan akan mengenepikan orang-orang Melayu lain daripada memasuki bidang kewangan terutamanya sebagai akauntan. Di bidang pelajaran kita mesti mewujudkan Universiti Merdeka secepat mungkin. Kita mesti terus menghantar beribu-ribu anak-anak kita ke Hong Kong, Taiwan, Amerika atau di mana-mana di dunia ini. Apabila mereka pulang kita akan memasukkan mereka di sektor-sektor swasta yang mengandungi 80% daripada peluang pekerjaan. Oleh kerana keadaan ini, kerajaan sekarang ini yang pro-Melayu tidak akan berjaya menguasai keadaan pasaran. Petani-petani yang terdiri dari 75% orang-orang Melayu terus tidak bertanah. Nelayan akan tetap miskin oleh kerana pegawai-pegawai kerajaan mereka sendiri sudah tidak boleh dipercayai lagi. Orang Cina harus menolong untuk memusnahkan segelintir pegawai-pegawai Melayu yang dedikasi dengan membawa mereka ke golongan kita. , Kita dengan demikian diharapkan akan membuat mereka gagal dalam tujuan asal mereka. Ini kita pastikan lakukan dengan usaha bersama antara sektor swasta atau kerajaan. Beberapa di kalangan Cina mungkin bertanya sama ada boleh atau tidak mengambil alih negara ini dengan pasukan tentera. Saya menjawab, mereka hanya general-general bodoh. Lihatlah sahaja kelulusan mereka dan pengalaman mereka dan lihat pula apa yang berlaku di Indonesia. Di Indonesia mereka semua boleh dibeli. Jadi, setelah kita memegang kuasa politik, kita boleh ketepikan pasukan tentera ini. Kita orang-orang Cina mempunyai kebolehan untuk bermuka manis dan dipercayai oleh orang-orang Melayu dan kita harus memainkan peranan kita dengan baik. Kita akan terus bermanis muka dengan berkawan bersama mereka kerana waktu ini kita belum boleh menunjukkan niat dan belang kita yang sebenar. Contoh yang paling konkrit kita mengalami kekalahan teruk dalam peristiwa 13 Mei yang lalu. Saya mempunyai hubungan dengan pihak atasan dan saya tahu apa yang ada di dalam otak mereka, dan apa yang difikirkan. Pada keseluruhannya, pemimpin-pemimpin sekarang sedang takut menemui pengundi mereka. Kita mesti mengumpulkan tenaga dan usaha mematahkan mereka dengan cara perlahan-lahan. Pada masa yang sama juga kita mesti perkuatkan dan mengenepikan risauan kesangsian orang-orang Melayu terhadap pemimpin-pemimpin mereka. Ini kerana terlalu jelas ketidakstabilan dan kemiskinan masyarakatnya. Akhirnya diharapkan mereka ini tidak akan berminat untuk mengundi dan membiarkan takdir yang menentukannya. Kita akan membuat penentuan ke atas mereka dan masa depan mereka kerana orang-orang Cina akan menjadi pemimpin-pemimpin mereka itu.
, Oleh Dr. Ng. Seng
The above message has been posted to a website of Prime Minister Department and has been deleted after Jeff Ooi's post. The above is "copy and paste" from Prime Minister Department's website before it deleted as a reference to my comment