Tuesday, March 10, 2009

RM60 billion Stimulus Package : If I were the Finance Minister


Let's start with the deal of the century some time ago:-
The Malaysian ministry of defense paid one billion euros (RM 4.5 billion) to Amaris for the three submarines, for which Perimekar received a commission of 114 million euros (RM 510 million) from Amaris. Deputy Defense Minister Zainal Abdidin Zin told the Dewan Rakyat, Malaysia’s parliament, that the commission was not a bribe to Perimekar. He said the money was paid for “coordination and support services” although the fee amounted to a whopping 11 percent of the sales price for the submarines.
The minister of defense then was now the minister of finance who is also deputy prime minister of Malaysia.....there was another Sukhoi deal amounted to worth US$900 million (RM3.2 billion), which was through a Russian state company, Federal State Unitary Enterprise 'Rosoboronexport' on May 19, 2003.
IMT Defence Sdn. Bhd. was appointed the local agent for the Russian company and received 12 percent of the purchase price, US$108 million (RM380 million). The principal figure and chairman of IMT Defence is Mohamad Adib Adam, the former chief minister of Malacca, previous Land and Development Minister and a long-time UMNO stalwart.


This Adib Adam is now, as informed by a friend, Adnan Kashorgi as arm dealer in the nusantara!

Combined commissions for the two deals worth whopping RM890 million! About 1 billion (as per current exchange rate) has gone into certain people's pockets for nothing more than pleasure.

No wonder Najib can buy anyone (including Sultan) to achieve big mama's dream of becoming PM. He robbed the Perak state government through backdoor and claimed no money was involved. Do not forget Altantuya's court case, even the defence team jumped to stop any mention of Najib's name or alleged involvement in the murder.

If all the university students were given free education from the money funded these deals plus commissions (we can name Yayasan Big Mama), we can have a developed status nation by end of this decade!

That fund is from only two deals...what about other numerous ministries' corruptions and similar commission deals, not to mention United Malay National Organisation money politics. Yes, we are rich country indeed but only for handful robbers and thieves. Estimated RM300 billion wasted through leakages.

Petronas profits over the years and payment to government are about RM500 billion since 1974!

Today, as we all know, the finance minister has announced that he would spend RM60 billion of our money for the next two years....if I were him, I would print more ringgits and give RM1 million each to all Malaysian citizens who are not millionaires, he he duit daun pisang.

By tomorrow, we could have a bolehland of millionaires!

And I would be a banana king!

Pak Lah has lunch with Anwar

Someone would not be sleeping well tonite....but I guess, politics is the art of possible and majority of us have enough of politicking and let's move on....


Mar 10, 09 8:50pm

Prime Minister Abdullah Ahmad Badawi today had lunch with Opposition Leader Anwar Ibrahim at a function in Hulu Langat, Selangor.

MCPX

anwar and pak lah hulu langat meeting 100309 04The presence of the two leaders at the same table raised eyebrows as well as questions on whether the outgoing premier and the waiting-to-be premier are working on a political pact.

While some in the opposition camp, including PKR Youth chief Shamsul Iskandar Md Akim, have denied that there was a "secret meeting" between the duo, this however has not been able to stop the speculation.

And the question is ultimately linked to the transition of power between Abdullah and incoming premier Najib Abdul Razak, which is slated to take place later this month.

It is common knowledge that Abdullah has been arm-twisted into handing over the reins following Barisan Nasional's disastrous performance in the last elections.

On the same note, it is also an open secret that the opposition would prefer Abdullah at the helm instead of his deputy.

The lunch between the two leaders took place at a the house of a religious school head some three hours before Najib unveiled the RM60 billion stimulus package in Parliament at 4pm.

Abdullah and Anwar, both of whom are known for their religious credentials, were invited by the school for the Maulid Rasul (Prophet Muhammad's birthday) celebrations.

Crowd was stunned

Political writer Mohd Sayuti Omar, who was also at the function, said he was informed by the organiser that the duo had talks regarding Abdullah remaining in power.

anwar and pak lah hulu langat meeting 100309 03In his blog, Mohd Sayuti said the crowd of about 1,000 were anticipating Anwar's arrival but were stunned when the prime minister showed up.

"Abdullah was expected to visit the school tomorrow to officiate a meeting of international ulamas. His presence this afternoon raised questions since it coincided with Anwar's visit," he added.

According to Mohd Sayuti, Abdullah arrived at school some 20 minutes before Anwar and his wife Dr Wan Azizah Wan Ismail.

anwar and pak lah hulu langat meeting 100309 02"The two of them were taken to (head of the religious school) Syeikh Mahmud Al-Mazjub's house for lunch. They were in the house for nearly two hours.

"The duo then performed their Zohor (afternoon) prayers together," he said, adding that the two later smiled and shook hands.

"What happened today was historical, we hope it works!" Mohd Sayuti quoted an organiser of the event as saying.

The latter however declined to comment on whether the meeting between the duo was pre-arranged.

On the same note, the political writer also questioned what the organiser had meant when he said: "We hope it works."

In his blog, Anwar said: "There have been too many assumptions and interpretations regarding our presence at the event."

Salient points in mini-budget

Salient points in mini-budget
Mar 10, 09 4:58pm

MCPX
The following are salient points in the mini-budget announced by Deputy Prime Minister Najib Razak today.

GDP growth is expected to be in the range of –1% to 1% for 2009. Without the two stimulus packages, the economy faces the prospect of a deep recession.

RM60 billion stimulus package - RM15 billion is fiscal injection, RM25 billion Guarantee Funds, RM10 billion equity investments, RM7 billion private finance initiative (PFI) and off-budget projects, as well as RM3 billion in tax incentives.

According to the government, the deficit can be financed from domestic sources. The financing of the deficit will not crowd out the private sector in sourcing funds.

60 billion budget stimulus the four aims breakdown 100309The RM60 billion is allocated to achieve four aims:

1. Reducing unemployment, increasing employment - RM2 billion

2. Easing the burden of the rakyat, especially vulnerable groups - RM10 billion

3. Assisting the private sector - RM29 billion

4. Building capacity for the future - RM19 billion

RM2 bil to reduce unemployment, increase employment

To create a total of 163,000 training and job placement opportunities in the public and private sectors

To establish 22 JobsMalaysia Centres and upgrade 109 existing centres to facilitate access for workers and employers to obtain job placements, career counselling and information on training opportunities

Employers who employ workers retrenched from July 1 2008 be given double tax deduction on the amount of remuneration paid.

Government to recruit 63,000 staff to fill vacancies and serve as contract officers in various government agencies

To encourage more Malaysians to pursue Masters and PhD by financing tuition fees and research grants up to RM20,000 for student pursuing PhDs locally and RM10,000 for those taking Masters programme

Levy on foreign workers will be doubled for all sectors except construction, plantation and for domestic maids; the levy will be paid by the employers and not by the workers.]

RM10 bil to ease the burden of the rakyat

To assist oil palm and rubber smallholders whose incomes have been affected due to declining commodity prices.

RM674 million in subsidies to be allocated to avert price increases of necessities, such as sugar, bread and wheat flour.

To provide RM480 million to ensure that toll rates are not increased. With these above measures, the government will allocate a sum of RM27.9 billion for subsidies in 2009.

House buyers be given tax relief on interest paid on housing loans up to RM10,000 a year for three years.

RM200 million to repair and maintain drains and roads.

RM150 million for renovation, maintenance and repairs of welfare homes, fire and rescue stations and quarters, as well as public toilets in mosques, surau and tourist spots.

RM1.95 billion to build and improve facilities in 752 schools, particularly in rural areas as well as Sabah and Sarawak, with RM300 million to be used to improve facilities in government-aided religious schools, national-type Chinese and Tamil schools as well as mission schools.

RM230 million will be provided to increase the coverage of electricity and water supply in rural areas, particularly in Sabah and Sarawak.

RM350 million will be provided for the construction of rural roads.

RM1.2 billion to be allocated in Sarawak and Sabah. This include the expansion of Sibu Airport, deepening works at Miri Port, repair and improve infrastructure damaged by floods, upgrading of schools as well as construction of Lawas Training Centre, Kota Samarahan Industrial Estate and tourism facilities.

In Sabah, among the main programmes and projects to be implemented include building of Giat Mara centres, Kota Kinabalu Electricity Transmission System, as well as upgrading of schools, roads and bridges. The government to take action to resolve issues related to health services in Queen Elizabeth Hospital, Sabah.

Existing tax exemption of RM6,000 given on retrenchment benefits be increased to RM10,000 for each completed year of service. Banks to allow retrenched workers defer the repayment of their housing loans for one year.

RM29 bil to assist the private sector

RM5 billion to provide working capital to companies with shareholder equity below RM20 million. The government to provide guarantee in the ratio of 80:20, that is 80% will be guaranteed by the government and 20% by the financial institutions.

To set up an Industry Restructuring Guarantee Fund Scheme totalling RM5 billion for loans to increase productivity and value-added activities, as well as the application of green technology.

Securities Commission to implement additional measures to reduce time-to-market to enable companies to raise funds in the capital market in a more efficient and cost-effective manner including doing away with approvals for rights issues by listed companies.

60 billion budget stimulus how malaysia will suffer 100309A new programme where permanent resident status would be considered for high-net-worth individuals bringing more than US$2 million for investments or savings in Malaysia.

RM5,000 discount to be given to car owners, who trade in their cars which are at least 10 years old, for the purchase of new Proton and Perodua cars.

RM2 billion for a new LCCT at Kuala Lumpur International Airport, which is expected to be ready in 2011.

A rebate of 50% on landing charges will be given for a period of two years effective 1 April 2009 to all airlines that operate from Malaysia. Likely to result in lower air fares.

Company’s current year losses be allowed to be carried back to the immediate preceding year.

An Accelerated Capital Allowance to encourage companies to renovate and refurbish their business premises. The allowance is capped at RM100,000.

RM200 million to upgrade infrastructure in tourist spots, diversify tourism products, organise more international conferences and exhibitions in Malaysia as well as improve the homestay programme.

RM19 bil to build capacity for the future

To promote domestic private investments, the investment funds of Khazanah Nasional Berhad will be increased by RM10 billion.

Khazanah to invest RM3 billion in the telecommunications sector, which among others, will facilitate its subsidiary to improve broadband infrastructure.

RM1.7 billion of Khazanah’s investment to go into Iskandar project for the building of infrastructure, hotels, theme parks as well as universities.

RM5 billion for 23 projects implemented on off-budget basis, including LCCT at KLIA and the expansion of Pulau Pinang Airport at an estimated cost of RM2 billion and RM250 million.

RM2.4 billion for the Malaysian Communications and Multimedia Commission to improve telecommunication infrastructure.

RM100 million to build sky bridges and covered walkways between buildings, especially in the Golden Triangle, Kuala Lumpur.

RM2 billion for private finance initiative (PFI) and public-private partnerships.

RM20 million for Radio Televisyen Malaysia to implement several projects to develop the local music industry.

All government procurements will be made through open tenders or restricted tenders, except for specific cases.

What's working in today's job search

What's working in today's job search
Abridged: Blethen Maine Newspapers

PORTLAND, ME -- Even in today's job market several of my clients have landed full-time jobs -- and very good ones at that. While their fields, backgrounds and areas of expertise were distinctly different from one another, their process for finding and eventually securing a job, was quite similar. Here's a list of their winning strategies:

  1. Updated, well-written, spot-on resumes that included results-oriented examples of competencies
  2. Positive attitudes that kept them going through the tough days
  3. Consistent and regular meetings with their contacts to keep them in a networking loop
  4. Clearly communicated their job search goals in terms of the value they brought to the field
  5. Thorough research of the companies with whom they were interviewing
  6. Impeccable follow through after meetings with thank you emails
  7. Being prepared for anything that came along during meetings
  8. Realistic notions about how long the job search process would take
In each of these cases, the successful job seeker found out about a position before it was ever posted. They had their foot in the door and made an impression that set them apart from other candidates who applied through traditional avenues. What will your winning strategy be?

Recruiters often know about unadvertised jobs
Staff Writer, The Career News

LOS ANGELES, CA -- These days job seekers should spend 60 to 70 percent of their efforts on networking. Let everyone know you're out of a job and available for work. People like to help, but they can't help if they don't know you're looking. On average, 80 percent of job openings aren't advertised at all. Therefore, working with a recruiter and networking may be the only way to hear about them.

Recruiters, otherwise known as head hunters or search consultants, are hired by companies to find candidates for them, and often know about unadvertised jobs. It's important to note, that recruiters do not charge the job seeker. The company pays a fee, typically when a candidate is hired.

If you don't know of any good recruiters and would like to have your resume sent to recruiters that specialize in people with your skills, Resume Mailman will instantly email your resume and cover letter to 1000's of targeted recruiters. You can even get a list of the recruiters they forwarded your resume to for follow up. To get your resume into the hands of the right recruiters visit Resume Mailman.

Honestly, can you do the job?
Abridged: Job Search Examiner

WASHINGTON, D.C. -- If you've been out of the job market for a long while, there will be days when that sense of desperation will creep in. You'll grow weary of cutting back on everything and you're willing to accept any job you can find. Then along comes a job interview for a position that, when you interview for it, you discover is a little out of your reach. And you know it.

But you want that paycheck, so you tell yourself, "I'll figure it out, all of my old bosses have LOVED me!" So you take the job. Maybe you've never been let go because of performance issues. You can't believe that you could get fired. So you don't take extraordinary measures to make sure you keep the job that was a little out of your reach in the first place.

And you get fired. And you didn't have to be. This doesn't mean that you shouldn't take a job that stretches your abilities, but once you're in that job, you've GOT to work your tail off to keep it. Just because every boss has loved you doesn't mean that this one will. Every new job is a new relationship. It's a new playing field with new players and the only way to stay in the game is to keep bringin' your A game.

Tips on keeping your job or finding another one
Abridged: Computer World Inc.

FRAMINGHAM, MA -- What can you do to stay employed? First, keep your technology skills fresh and take advantage of online training courses and certifications. Second, leverage your current skills and expertise to help your company perform better. Third, stay positive. Fourth, stay busy, and never say no to an assignment. When times are difficult, these things can help you keep your job.

Advice like "stay positive" seems simple enough, but that can be tough to do in such a grim environment. How can we do that? Avoid the negative people in the office. Negativity can be contagious. And if you do all that and still lose your job, what should you do then? Make sure your resume is concise, well written, and updated. Make sure it's optimized for keywords in your industry. Post your resume on all the job boards, such as Dice, Job.com and Monster, as well as the niche job boards.

Finally, in this highly competitive job environment, if you have an interview opportunity, let the prospective employer know you are available immediately! Make sure you are easily available and show a strong interest in the job; otherwise, you will lose the job opportunity.

Niche job boards & websites your resume should be on!
Staff Writer, The Career News

LOS ANGELES, CA -- There are hundreds of sites where you can post your resume online. Some sites, like CareerBuilder, let you upload an existing resume with the click of a button. On other sites you can cut and paste or use a resume building wizard. Start with the top job sites like Job.com, CareerBuilder, Monster and Dice as well as the mid-size and smaller job boards. Then keep track of where you've posted your resume and make a list of your login names and passwords.

Or if you are interested in saving time, use a service that will post your resume for you. Resume Rabbit, for example, instantly posts your resume to over 85 of the top job boards and career sites, including the ones listed above.

You'll get a personal online posting report with login information for each site so you can update your resume and apply directly to job postings. They also provide confidentiality and spam protection services. To instantly make your resume available to 1.5 million employers & recruiters daily, follow this link.

Seeking work in today's difficult market
Abridged: Incisive Media

FORT DODGE, IA -- Here are some basics for seeking work in today's difficult market: Applicants need to be realistic about qualifications and the market, sweat the professional details, and be flexible enough to think about alternative job opportunities. For example, as business transactions slow down, compliance work increases. Using the same skill set in a new market can create good results.

Take stock of personal and lifestyle needs. Look carefully at debt and repayment options. Pay attention to the professional details surrounding your job search. Too much competition is out there to leave details undone. Controlling professional documents like resumes and letters, professional attire and interpersonal skills will pay big dividends. Crafting an error-free resume is critically important. Write cover letters that demonstrate knowledge of what an employer does.

Communicating professionally during interviews with employers is vital. Be direct, courteous, accurate and honest. Always have good eye contact with the interviewer. Keep in mind that when traditional opportunities disappear, new ones arise. Job seekers have to be prepared to take advantage of them by creating a touchstone with which to compare personal and professional needs with the job opportunity at hand.

Interview tips that get you hired faster!
Staff Writer, The Career News

LOS ANGELES, CA -- Did you know that when the job market was booming it took an average of 3 interviews to get 1 job offer? Now it takes 17! When you finally land the job interview of your dreams will you have what it takes to land the job offer? You must stand out during the job interview or you might as well be playing the lottery.

Most job seekers spend hours creating their resumes and cover letters, searching through job postings, reviewing classified ads and networking--all in order to land the job interview. Yet 99% of them don't have a clue what to do when they get one.

There's a little known "secret career document" you can quickly and easily customize for your next important job interview that literally forces the interviewer to picture you filling the position. This powerful technique was created by one of California's top marketing professionals. His method guarantees you'll automatically stand out from the crowd and shoot straight to the top of the "must hire" list for any position you seek. To ace your next interview and get hired faster visit: The Job Interview Secret.