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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by kangkongkong > 2014-02-23 17:43 | Report Abuse
Is the BN trying to bring Malaysia and its rakyat to socio-economic ruin? A total of RM4.78 billion has exited the Malaysian equity market year-to-date and the ringgit has plunged to a 24-year-low against the Singapore dollar. Yet the ruling government continues to indulge in fuelling inter-racial and inter-religious sentiments instead of focusing on managing the economy. ANALYSIS: When a government stops listening to the people, you know the end is near, so to speak in Frank Sinatra’s “My Way”. theantdaily had in three articles titled “Najib, stop the rabid assault on national unity and get cracking with managing the economy” (Jan 20), “When RM2 is not enough in a coffee shop, 'Allah' is BN-Umno’s obstinate concern” (Feb 3) and “Stop horsing around Allah and May 13, get back to work” urged the government to stop the lunatic race and religion polemics and manage the economic woes of the people and country. Not only did it not heed the concerns of the rakyat’s struggle to put food on the table daily for their loved ones, it also raised its lunacy over Seputeh MP Teresa Kok’s “Onederful Malaysia CNY 2014” socio-economic-themed satirical video clip on YouTube. Instead of going after the promoters of violence who issued a RM1,200 bounty to any Malaysian who dared to slap the MP (that’s criminal intimidation and intent to cause assault), the Barisan Nasional (BN) police went after the video clip actress! The police’s failure to rein in the promoters of violence and disunity, and BN’s grossly misplaced priorities to serve the rakyat and country are unbelievable and baffling. Is the BN trying its level best to bring Malaysians and Malaysia to socio-economic ruin? Business Times, quoting MIDF Research, reported on Feb 10 that foreign funds offloaded RM1.1 billion net Malaysian stocks in the open market the week before. This makes it the 17th out of the preceding 18 weeks that foreign investors have been the net sellers. It is also the second week this year that the net sale amount exceeded RM1 billion, MIDF Research said in its weekly fund flows report. Year-to-date, a total of RM4.78 billion has exited the Malaysian equity market. “In the last 18 weeks (the current phase of foreign sell down), a total of RM10.45 billion have exited Malaysian equity. That translates into an average of RM581 million a week, an increase from RM550 million previously,” it noted. Is the foreign capital flight caused by a loss in confidence due to the constant race and religious intolerance perpetuated by Umno-linked Muslim conservatives? The non-Muslim bashing, condoned by the Umno-led BN ruling coalition, is doing nothing good for the rakyat and nation, except to shatter national unity. And, national news agency Bernama also reported on Feb 10 the ringgit’s free fall to a 24-year-low against the Singapore dollar. The ringgit was traded at 2.6300, a loss of nearly 80 per cent against the republic since 1990. The Singapore dollar versus the ringgit was at 2.6300/2.6340 from the previous week's 2.6277/6259 closing. The ringgit also weakened against the greenback, reversing its earlier gains on Feb 10 to close above 3.33 on short-squeeze, dealers said. At 5pm, the local unit was quoted at 3.3390/3420 against a greenback from Friday’s (Feb 7) close at 3.3290/3320. Initially interbank traders went short on US dollars for the ringgit but local corporate demand capped the local unit’s gains. The ringgit then slipped to as low to 3.3390 against the greenback on weaker-than-expected December’s Industrial Production Data that rose 4.8 per cent from a year earlier, which is below the market forecast of 5.4 per cent growth. Against the British pound, the ringgit also weakened to 5.4773/4836 from Friday’s close at 5.4396/4465. The local unit also declined against the yen to 3.2668/2710 from 3.2624/2660 Friday and depreciated against the euro to 4.5551/5602 from 4.5148/5195 last week. That’s the BN government’s economic and financial perils as it obstinately and rabidly indulges in stoking inter-racial and inter-religious sentiments instead of concentrating on managing the economy.