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.
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