Yesterday (Friday) Malaysian equity market was at the worst in our 17 year history. The capital outflow was estimated to be at RM404 million at closing time, the worst in weeks. For past many weeks the equity market was very weak as foreign funds were leaving our market for a better investment somewhere else to the tune of RM300 million on daily averages.
It simply means that the equity market is shrinking to the tune of RM almost 5billion monthly average is going to put our market dry. While agreeing that the devaluation of the Chinese Yuan and the declining prices of commodities adds to the weak economics dynamics in the country, we cannot deny that the political situation that exists in the country create the mood of no-confidence in Malaysian money and stock market for them to stay with hopes of recovery in the near foreseeable weeks and months.
This situation was not an isolated one. We used to go through the Asian currency fall in 1997 but there were still decent hopes as the investors (Foreign) were still having confidence in the leadership of that time handled the situation. To kindle recovery the need of foreign investors’ confidence in the ruling government is very crucial but that is what we are oblivious of at the moment. We can’t be resting our hopes on the ailing PM and the newly politically minted Deputy PM to rectify the economic lethargies we are now facing.
I am writing again on what have been said by this blog in very simple language that anyone can understand very easily. We have been in a vacuum of leadership for two decades and changing leaders within the group of oblivious of leadership qualities and mannerism is no change. Putting Muhyiddin aside and replace him with Zahid Hamidi is no change actually. As I have unfailingly said for the past years they are of the same and similar leadership mannerism and culture and subsequently results in the same depraved government.
They don’t plan anything for the country. They administer the country based on ad hoc and impulse decisions and not on planned resolutions and normally all development projects of this nature were based on cronyism motivated projects. The gigantic projects were somehow related to persons or personality involved in the government (especially ministers).
There is cosmic potential that nepotism will be a perpetuated if personality like Zahid is placed in the top leadership hierarchy. His brother (Hakim) has been on the line to take turn to create another scandal with his plan to bring in 1.5 million Bangladeshi in three years. This project of bringing in that enormous number of Bangladeshi is a real massive project meant for family member as it has been cultured and ingrained in our leadership mannerism.
This has to stop as there is no advantage to anyone except to the family of Zahid to the tune of RM 4 billion in the exercise. Bangladesh will have the advantage of reducing her over populated nation by 1.5 million unskilled populations within three years. This exercise of transferring the massive problems of Bangladesh to our land is certainly planned, not for the country but for businesses his immediate family member and this plan has been in the pipeline ever since he became the Minister of Home Affairs. Everything is business.
Please everyone, save this country from being led by unscrupulous, irresponsible and self-serving leaders. This blog has been routinely reminding everyone that replacing the outgoing leader with another leader within the same Cabinet lineup and UMNO Supreme Council is no change. They are from the same and mannerism that will result in similar consequences. The nation is going to be milked dry and we will never have a nation with lucidity any longer.
As this blog has been emphasizing, ousting Najib is a great achievement for the people but alternating him (Najib) with another leader from the same culture will only bring this nation to further ruin.