Koon Yew Yin's Blog
Correcting Najib's Fatal Mistakes - Koon Yew Yin
Koon Yew Yin
Publish date: Tue, 20 Oct 2015, 02:56 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
When the curtain comes down on Najib as the country's prime minister – most likely sooner rather than later – there will be assessments about which area of life has suffered most during his period of leadership? Which subject needs urgent attention in terms of damage control.
The following are the key areas which, in my opinion, need the most remedial work by the next prime minister of the country, irrespective of whether he comes from the BN or Pakatan.
1. Mending Race Relations
Race relations today is at its lowest point in our country's history. What has taken a toll on our racial harmony is the rise of right wing forces within UMNO and their call for revenge against those that have not toed the Malay rights line, or who somehow or other have disrespected or dis-honoured the Malays.
Never mind that these so-called Malay 'patriots' are nothing but opportunists and parasitic elements with their own agenda. The rent a mobster and rent a rally strategy has provided prime time political propaganda which serves a racially aggressive UMNO.
Analysts have pointed to the growth of racial extremism in UMNO with the decline in Najib's popular standing and his need for a distraction that can take the limelight away from the 1MDB crisis of confidence. Many see the prime minister's hands – or at least those of his handlers – in the prominence of the Red Shirts and its thuggish rally on 16 September.
It does not matter now whether or not the Prime Minister has personal responsibility in the ascendency of this extremist Ketuanan Melayu and Ketuanan UMNO group led by the rabble rousing, Jamal Md Yunos, an UMNO division leader.
Suffice it to say that the damage has been done not just to race relations in Malaysia. The BN's international image as a moderate nation led by leaders who understand the crucial importance of racial harmony and will not abuse their position of power has also suffered.
One small consolation is that the Prime Minister himself seems to realize that he may have overplayed the racial card to retain the support of UMNO members. In his recent appearances at the MCA, Gerakan and MIC General Assembly meetings he has made moderate and soothing speeches on the Government's commitment to Chinese vernacular education, the Malaysian roots and crucial contribution of Malaysian non-Malays, and the importance of meeting the aspirations of the marginalized Indians. But it may be too little too late.
One small spark now may set our Malaysian common rumah on fire.
2. Reforming the Economy
The country's economy is still growing. However, the 1MDB financial scandal and failure to implement the structural reforms listed in the New Economic Model (NEM) as well as adverse impacts from the slowdown in China's economic development and downturn in commodity markets means that the economy is in danger of stalling.
On top of that we have a government which is intent on pushing the Malay economic agenda at all cost and with pandering to favoured cronies.
The amber lights are already blinking in the sharply devalued ringgit, decline in foreign investment, high levels of individual and household debt, rising costs of living, and falling business confidence.
One respected member of the high level committee that formulated the New Economic Model has described the failure of leadership in the economy in the following way:
In March 2010 at an international investors’ conference, Prime Minister Datuk Seri Najib Razak announced an urgent need for a revision to the NEP, towards a national development strategy more transparent, merit-driven, and market-friendly, and towards a new needs-based affirmative action.
…. But then elements within the prime minister’s political party mounted significant pushback, the moment passed, and he did not stay the course.
….Since 2010 no one has been able to recount significant action on that announcement.
(Danny Quah, Going Rogue: Malaysia and the1MDB Scandal)
It is still not too late for Najib the Prime Minister to pull our country out of its economic tail spin but he has little time left. Chances are that it will have to be left to the next Prime Minister to take up and revive the New Economic Model abandoned by its initiator.
3. Restoring Integrity of Government Institutions
Malaysians – in fact, the world - are well aware that ever since Dr. Mahathir's time as Prime Minister, the key institutions of government such as the police, judiciary, banking authorities, and other important bodies in the civil service have been debased and had their independence undermined. In fact they have been repeatedly used as a political football by Dr. Mahathir and his successor, Pak Lah.
In the recent series of developments aimed at covering up the Prime Minister's personal responsibility in the 1MDB scandal, we have seen the abuse and manipulation of all three branches of government by the Prime Minister reach an unprecedented height.
Najib has sacked the deputy PM, replaced the Attorney General, reshuffled the MACC staff, undermined the authority of Bank Negara, and co-opted the chair of the Public Accounts Committee looking into the scandal by promoting its chair to a Ministerial position, and engaged in other less public actions aimed at absolving him from blame.
There is no doubt that the Prime Minister dug a deep hole for himself by approving the Petro Saudi scam that has left the nation's 1MDB sovereign fund with massive losses. But in attempting to get himself out of this hole, he has dug an even deeper hole for the bodies in charge of our financial, legal and judicial affairs at the highest level. In fact, he has probably outdone his mentor, Dr. Mahathir, in destroying the independence, neutrality and accountability to the nation of these bodies.
Remedying Najib's blatant disregard of the separation of powers will require an extraordinary leader and extraordinary politics. If I were a betting man, I would not place my money on it. But if enough Malaysians push for this, who knows?
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Discussions
5 people like this. Showing 26 of 26 comments
this old bugger got vile mouth , use his grey matter to make money and see all the remisers in the country to call the big margin players to follow his games, your game is a short game of zero sums , one profit and the other will get burn soon.. in real investment .. it is permanently placing your money in a stock and get dividend and capital appreciation.but these co will soon gyrate the prices due to various variables changing.
this skunk happily making money in this country for years , and here he is ,keeps harping and criticising as though nothing on the right track .whatever happening is bad , doom , gloom , despite the fact that he is able to trade and getting richer, really pathetic , ungrateful , arrogant soul.
2015-10-20 17:19
Talking about Malay rights. Just imagine that you and your step brother, your brother can get anything he wants but you are restricted and you have to work much more harder. Part of your hard works has to goes to your brother so that he can live an easy life from your handout. Seems like it has to be this way forever; what would you feel?
2015-10-20 17:20
How come special aids change to special rights?Does it sound more high class.Correct me if I am wrong pls,heard somebody saying mah!
2015-10-20 17:27
If my step brother is already doing well and my step mum keep giving him preferential treatment, that is unfair.
However, if my step brother is not doing so well in his study and my step mum bought him a few more additional books, I shouldn't be upset. As long as I have equal chance to go to school as my step brother.
As a Chinese, I support affirmative action for races that are not doing so well. If one race is doing well, they should share their wealth with other races. if the rich get richer, poor get poorer, the country will not be stable, and there will be no money to be made by anybody
I still remember 1997 Asian Financial Crisis. Due to the economic problems, anti Chinese riots happened in Indonesia. But in Malaysia, racial issue was totally non existence. The whole country faced the crisis united. Chinese, Malays, Indians all suffered together. We didn't turn against each others.
If you want to feel how it is like to live in a country with huge wealth disparity, go to Indonesia. I have been there before. As a Chinese, I felt very unsecured.
I feel more comfortable in Malaysia. I think the affirmative action does help a little bit.
=======
Posted by Coldrisks > Oct 20, 2015 05:20 PM | Report Abuse
Talking about Malay rights. Just imagine that you and your step brother, your brother can get anything he wants but you are restricted and you have to work much more harder. Part of your hard works has to goes to your brother so that he can live an easy life from your handout. Seems like it has to be this way forever; what would you feel?
2015-10-20 17:52
When can the Malays b on par with Chinese economically ? Jst imagine a Malay couple will have 6 to 12 children on average; with that number of kids in relevant to their income, needless to say some kids will be deprived of education hence social issues arise and they blame the Chinese for all the ills which are mainly their own doing..blame the Chinese is the name of the game while Malay population increases tremendously...(Typically Chinese couple have 1 to 3 kids only)
2015-10-20 20:34
God will exercise justice to the meek,just repent and talk to God in prayers. He will listen to your prayers and bless you in the midst of injustice.
There are Malays also are below middle class bcos of various reasons,some never given the opportunities bcos most of them are grabbed at the top and they never flow down to them.Most of them at the top enrich themselves using that priveleges.At lower level,a lot of competition for the little opportunities they have,whether is malay or non-malays,poor malaysians.
To improve our economic structures we should call for open tenders and whoever play with vested interest should be charged for corruption,then only we can multiple effect of creation of opportunities,wealth and hence millioniares,eg China.
2015-10-20 22:45
Absolutely agreed...I have many Malay friends who are so frustrated with the UMNO elite, MCA elite and Royalty families ...they are just lining up their pocket..."Main Wayang" is the word
the middle class Malays , chinese etc are suffering to meet end meets...
------------------------------------------------------------------
Posted by Icon8888 > Oct 20, 2015 05:52 PM | Report Abuse
If my step brother is already doing well and my step mum keep giving him preferential treatment, that is unfair.
However, if my step brother is not doing so well in his study and my step mum bought him a few more additional books, I shouldn't be upset. As long as I have equal chance to go to school as my step brother.
As a Chinese, I support affirmative action for races that are not doing so well. If one race is doing well, they should share their wealth with other races. if the rich get richer, poor get poorer, the country will not be stable, and there will be no money to be made by anybody
I still remember 1997 Asian Financial Crisis. Due to the economic problems, anti Chinese riots happened in Indonesia. But in Malaysia, racial issue was totally non existence. The whole country faced the crisis united. Chinese, Malays, Indians all suffered together. We didn't turn against each others.
If you want to feel how it is like to live in a country with huge wealth disparity, go to Indonesia. I have been there before. As a Chinese, I felt very unsecured.
I feel more comfortable in Malaysia. I think the affirmative action does help a little bit.
----------------------------------------------------
Posted by Fam Jenny > Oct 20, 2015 10:45 PM | Report Abuse
God will exercise justice to the meek,just repent and talk to God in prayers. He will listen to your prayers and bless you in the midst of injustice.
There are Malays also are below middle class bcos of various reasons,some never given the opportunities bcos most of them are grabbed at the top and they never flow down to them.Most of them at the top enrich themselves using that priveleges.At lower level,a lot of competition for the little opportunities they have,whether is malay or non-malays,poor malaysians.
To improve our economic structures we should call for open tenders and whoever play with vested interest should be charged for corruption,then only we can multiple effect of creation of opportunities,wealth and hence millioniares,eg China.
2015-10-20 22:57
Now is the real situation about our economy. The income from tax payer money is not much. It is the oil money that is used by Malaysia to pay for the development. Now with less oil money, everybody is suffering
2015-10-21 18:19
Glotec: CBM Gas Indonesia ...
Gas Bagus.. Gas Cantek.... Gas Sedapppp!
Ayooooo wakakakakakkaaa
2015-10-22 13:18
I hv a suggestion, especially for Mr. PaperPlane2, Miss FamJenny, Mr. TKLim, Mr. BearBearDrop, Mr. GopiWira & others the likes of them:
Try migrating to Indonesia, and then living there UNTIL the next Asian economic supercrash, and living THROUGH that period, UNTIL it has passed.
Ya all might find events happening there in that kind of time wely wely wely intelesting ...
2015-10-22 13:25
These kinds of dudes will never stop whining, moaning, groaning & complaining ... Until kingdom come ...
2015-10-22 13:27
Every one should thank God for being in Malaysia and not in Indonesia, Nepal, bangladesh, Thailand, the middle eastern countries or even China.
See how many millions of Bangla, Nepal, Indons, Viets, China nationals are coming to Malaysia for better jobs and pay - legally and illegally. Malaysia in general and Iskandar is paved with gold or golden opportunities.
Last time Marcos stole the wealth of Philippines and turned Philipino women as domestic maids in foreign countries. Same goes for Indonesia under Suharto regime - many Indons are here as construction workers. At one time Burma was one of the richest country in Asean. See how far it has fallen behind?
So in spite of IMDB's Rm42 Billions Scandal all is not lost. It is only 10% of Malaysia's Rm400 over Billions.
So look at the brighter side. All leaders are mortal - they will have to go when their time is up. But Malaysia by virtue of its position in the Asian Pacific Century will yet rise up to be a Great Nation, Insha Allah or God -willing.
Let all pray for all that are in authority. The mandate given from Heaven can be changed by Divine Will.
2015-10-22 22:39
We use to hv Muhibbah, now we don't.....syukur
We use to hv much less debt than those accumulated last 6 year to 800B...syukur
We were Fifa football ranked 75 in 1993 and today we are 171 in world. ........syukur we still hv a ranking
We are now 52 in world OECD for Math and Science behind Kazakstan and Iran.....Syukur
Our Corruption Perception Index (CPI) in 2002 was ranked 33 and in 2007 we were 43rd and 2014 we were 50th......Syukur we are ahead of Sri Lanka....
Bersyukurlah, because very soon our locals will get back their jobs from foreigner like Myammar, Bangladesh, Filipino, India......because .these guys are not loyal to country and soon our local may be able to work in their country.....syukur!!!!
2015-10-22 23:22
Look at it more objectively.
Japan & USA have worst debts than Malaysia
See www.UsDebtClock.com
IT HAS USD 18 TRILLIONS IN DEBT - Over Rm70 Trillions compared to Malaysia's Rm800 Billions. And It has only 10 times more population than Malaysia But 700% more in debt! Including Unfunded Liabilities from CDOs CDS & Debts of Fannie Mae & Freddie Mac Swept under the carpet it is estimated that the HORRENDOUS DEBT OF USA IS OVER USD 100 TRILLIONS (Or Rm400 TRILLIONS! So Malaysia's problem is actually peanut.
Malaysia is now the world no 6 freest economy to set up a business - following Spore's example.
KL is the world no. 4th For Shopping (After London, New York & Tokyo)
And Malaysia is also World No. 4 for retirees (First 3 in South America)
And With The Crash of Ringgit Malaysia will Rise Up to be World No. One Champion for Exports. Even China Companies are now rushing to invest in Iskandar
Google My Article "THE SUPER COMPETITIVE ECONOMY OF MALAYSIA DUE TO THE TWIN COLLAPSE OF OIL & RINGGIT" - Calvin Tan
2015-10-22 23:39
Now I have a question for all.
Singapore is listed as The No. 1 Most Competitive Economy in Asia and Malaysia is no. 6 (Taiwan no. 5 and Australia is no.7).
What do you think of the position of the Iskandar Region in Asia?
2015-10-22 23:52
Mah bersyukur lor...lol
Firstly for sustainable check the per capita income amongst country
Then check bank reserve in usd
Then forex exchange reserve
Then gold reserve
Then oil reserve
.......
........
Don't just compare compare debt.....we lost 2b just on exchange recently, we lost double on crude oil because of exchange & drop in price as non decision maker, we lost on balak, we lost on palm oil , ....
Why don't you compare with Singapore or Hong Kong. Singapore nominal per capita income 4.5 times of Malaysia, no natural resource at all except human capital.
Why don't compare reserve?
Why don't compare intellectual and universities?
Why don't compare human rights?
Why don't compare human trafficking?
All the comparison above will determine the quality and effectiveness of governance
2015-10-23 00:40
Bersyukurlah, our disparity in income is widening.
Syukur lah our crime rate is getting higher and closer in style to Thailand cowboy style
Syukur syukur especially we hv low prosecuting rate due to technical reason
2015-10-23 00:46
Mr Koon YY, my name is Francis Tan can I have your general email address that I can send to you some articles
2015-10-24 18:27
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UNLESS PKR is govt, if not with him step down wont change much!
2015-10-20 17:13