More reactions from the subsidy cuts on Petrol,Diesel and Sugar.. Tony Pua come out with guns blazing

Tony Pua who I think is de-facto Shadow Minister of Finance of the Pakatan is making a lot of noises about the Subsidy cut but if you eliminate the political point scoring statements, he and his team actually come up with very important constructive points that the BN Ruling Government must pay attention and ignore at their peril:

DAP asks why subsidies not cut for ‘fat cat’ industries

By Clara Chooi July 16, 2010(MI)

KUALA LUMPUR, July 16 — The DAP mocked the prime minister’s “People First. Performance Now” philosophy today, asking if it meant ordinary Malaysians would be the first to face the brunt of subsidy cuts while independent power producers (IPPs) and other “fat cat” industries continued to enjoy such benefits.
DAP national publicity secretary Tony Pua pointed out that while the government would save RM750 million a year by cutting subsidies from today on fuel and sugar, it was still subsidising electricity utility Tenaga Nasional (TNB) and IPPs by up to RM18.9 billion a year.

Pua questioned why the government was punishing ordinary Malaysians instead of the IPPs, whom he called “fat cats”.

“The prime minister claimed that even after the latest subsidy cuts, the government will still spend RM7.82 billion for fuel and food subsidies.

“However, he failed to highlight the fact that Petronas will continue to provide subsidies to Tenaga Nasional, the IPPs and the industrial sector, which were RM18.9 billion for its financial year ending March 2010,” he said.

Pua claimed that of the RM18.9 billion more than 40 per cent, or nearly RM8 billion, went to the IPPs.

“Unfortunately, most of the subsidies to the IPPs do not translate into lower prices of electricity for users due to the unequal and unfair agreements which TNB was forced to sign with the IPPs.

“TNB has to not only purchase electricity from the IPPs at prices much higher than what it could produce on its own, but it has also to pay for the total capacity of these IPPs, regardless of whether there is a demand or otherwise.

“Hence, there is an excess capacity as high as 50 per cent today which has resulted in heavy subsidies for the IPPs, high prices of electricity for users and massive profits for the IPPs,” he said.

Pua said it was also disappointing how the Barisan Nasional (BN) government had prioritised subsidies to the people as the first expenditure to cut in order to reduce deficits caused by what he claimed was its “irresponsible and wasteful” spending.

“We agree that some of the subsidies to the rakyat need to be rationalised to ensure that the poor and needy receive a greater proportion of the benefits than the wealthy.

“However, the above should not be used as an excuse to victimise the people first without first taking concrete and visible actions to cut subsidies to large politically-connected companies or bloated expenditures for price-inflated projects,” he said in statement today.

Pua also slammed the government’s continuing practice of using direct negotiations for large-scale privatisation contracts, claiming it only led to bloated prices and higher risk of project failure due to the cost increase.

“For example, the government awarded the contract to build Malaysia’s largest exhibition and convention centre at the cost of RM628 million to Naza TTDI Sdn Bhd without any tender, open or closed.

“The government has also awarded a 20-year, interest-free, unsecured and back-loaded RM320 million loan to Syarikat Bekalan Air Selangor (Syabas), a private company, which will cost taxpayers more than RM250 million in interest,” he said.

Well I have to hand it to Tony and his men, the IPPs are real fat cats which are taking humongous subsidies and they are very profitable. It was reported that IPPs are taking subsidies for gas of billions per year, is that true? then the Government must cut the REAL excessive fat. Do not forget about the subsidies paid to the profit making highway toll operators also ya.

As it is the Government MUST balance subsidy cuts to the people of Malaysia by spending less on wasteful projects and paying subsidies to the fat cats of the IPPs and also the Highway operators. Do not make the people on the streets angry and frustrated lah gaji kami tak naik pun in tandem with the subsidy cuts, BN mahu menang election atau tidak? Tepuk Dada Tanya Selera.

Global Fund Managers Polls ...everything is not what it seems

A slice of news which would make anti Perkasa, anti NEP, anti anything BN wild with ecstasy and they will be tweeting, blogging and making ceramahs for days to come; from the MI:

Global fund managers look to trim Malaysia holdings

By Lee Wei Lian

July 16, 2010

KUALA LUMPUR, July 16 — Malaysia was the second-least-favoured destination among global emerging market (GEM) fund managers, according to a poll by Bank of America Merrill Lynch Global Research released this week.

The July survey had Taiwan, Malaysia and Chile as the most underweight markets for GEM investors. They were also slightly underweight on China due to slower growth prospects.

In financial markets, the term underweight is used by analysts to advise investors to reduce their holdings.

The findings of the survey could potentially signify a setback for Malaysia’s bid to become a more competitive destination for global portfolio investment.

The Najib administration has been trying to lift Malaysia’s profile as a destination for foreign investment to help the country achieve an average gross domestic product growth of at least six per cent per annum over the next five years, in an effort to become a high-income nation.

The country’s foreign direct investment rates have fallen faster than other regional players like Singapore and China, and at the same time, capital outflows have dampened private domestic investments. Net portfolio and direct investment outflows had reached US$61 billion (RM197 billion) in 2008 and 2009 according to official data.

Asia-Pacific fund managers that were surveyed, though slightly underweight on Malaysia, held a more favourable view of the country and were looking to cut back the most in Korea, India and Australia instead, while China, Indonesia and Taiwan were the most-favoured markets.

There was an increased pessimism among the fund managers overall on the economic outlook, with a net 12 per cent expecting weaker economic conditions over the next 12 months, as compared with a net 42 per cent expecting a stronger global economy in a survey two months ago.

The fund managers also expect China’s prospects to worsen, with a net 39 per cent expecting weaker growth, as compared with 60 per cent seeing stronger growth in January of this year.

Malaysia’s economy grew by an impressive 10.1 per cent in the first quarter of this year but the prime minister had on July 6 cautioned that growth in the second quarter could be slower due to deteriorating external circumstances.

The local stock market had been on a seven-day winning streak and neared a two-year peak before succumbing to profit-taking yesterday.

About 200 global fund managers with portfolios worth from US$250 million to over US$10 billion had participated in the Bank of America Merrill Lynch survey.

But hold your horses you anti anything BN people, there is a great retort to the above article by blogger A.Reme of OpEd please read:

Tidak tepat bahawa pasaran saham Malaysia tidak laku:

Excerpts:

Saya jadi wartawan pasaran kewangan selama sembilan tahun dulu. Hingga tahun 2000.

Dalam masa tu (1991-2000), orang berebut nak labur di Malaysia - sedangkan bangsa Cina dan India 'tertindas' di Malaysia, orang politik Umno-BN (masa tu Anwar dalam Umno) banyak corrupt (katanya), kroni Mahathir-Anwar banyak dapat projek (katanya), polis bantai mati orang dalam jail (katanya), pasir Selangor dicuri pemimpin Umno (katanya) dan orang Melayu miskin di bawah pimpinan Gerakan-Umno di Penang (katanya). Saya pernah terlibat dalam melapor banyak krisis pasaran dan ekonomi.Wall Street jatuh, Wall Street lonjak. Asian economic crisis. Central bank satu dunia masuk beramai-ramai nak defend US dollar.Kadang satu hari kerja tak sempat nak gi toilet sebab pasaran panik!

Di satu masa, seorang penganalisis dari bank dagang Nomura (di London) menulis laporan - London shares are overvalued.Mak oi! Hancur beb, semua saham jatuh merudum. Tak ada kena mengena dengan isu politik, atau orang Paki kena pukul kat London, atau Raja Petra jumpa Zaid Ibrahim minum diet coke kat pub.Semuanya based on: The stock market was overvalued at that time. Prices were too high. Sell now.Akhirnya, semua pasaran Eropah jatuh! Lepas tu Wall Street.Lepas tu merebak ke Tokyo. Hong Kong dan Singapore. Contagion!

Jadi cakap mudah: Pelabur asing bukan kisah Perkasa atau Anwar jadi hero. Kalau syaitan pun jadi perdana menteri, jika pelabur portolio (iaitu yang membeli saham dan bon) rasa boleh buat duit di Malaysia atau Afghanistan, mereka akan masuk.Mereka tak kisah Cina atau India kena tindas, atau Melayu semua masuk PAS dan masuk syurga. They only look for investing opportunities in UNDERVALUED markets, right here and now.Ada yang beli hari ini, esok dah jual!

Sebab tu bodoh betul ada yang komen bahawa: Wah, Thailand yang kecoh tu pun lebih popular dari Malaysia. Ini semua sebab Perkasa dan Mahathir dah rosakkan negara.
Maaf, itu olahan orang bahalol mangkuk bakkutteh basi.

Thailand popular sebab pasaran saham dan bon depa dah jatuh teruk habis semasa perang sivil di Bangkok dua bulan lalu (90 orang mati, ratusan cedera, mall ditutup berminggu). Jadi dana asing nak beli sebab harga dah rendah.

Sebab tu laporan yang sama menyatakan fund manager tak suka sangat dengan pasaran China dan Taiwan. Tapi itu tidak diperbesarkan. Pasaran China dan Taiwan itu sama seperti pasaran Malaysia, dah ada "FAIR value" atau "OVERvalued".

Cara paling mudah nak calculate pasaran saham itu masih patut dibeli atau dijual ialah menggunakan kadar price-to-earnings ratio atau P/E Ratio. Kamu baca kat sini.
Fund manager ada cara sendiri nak calculate sama ada pasaran anda 'murah' ke 'mahal'.
Mereka ada chart, formula sendiri yang rahsia.

Yang diperbesarkan, kerana fund manager ni underweight Malaysia dalam Julai, ini "could potentially signify a setback" untuk kerajaan. Nenek-kebayan kamu buat olahan apa, brader.

Pelabur mungkin kata overweight bulan June Julai Ogos, tapi jika harga saham dan bon dah jatuh pada September, mereka akan beli kembali. Ini bukan survey jangka panjang, abang oi.Kalau nak berlaku adil, kenalah buat laporan setiap bulan. Baru nampak trend yang jelas.Sedap dia nak bantai negara sendiri. There is too much cynicism in Malaysia. Senang-senang depa tembak negara sendiri.

Saya segan lihat politik Indonesia masa ni - parti pembangkang PDI-P yang dijaga oleh Megawati Sukarnoputri dan suaminya. Walaupun pembangkang, tak banyak buat karenah sangat dalam isu politik dan ekonomi. Mereka jadi macam pembangkang kat Singapour, memberi pandangan yang boleh membangunkan negara.Cuma yang kita harap, kerajaan Malaysia bila ditegur pembangkang jangan melenting sangat. Kerap juga betul apa yang dikatakan. Kurangkan wastage dan suburkan ekonomi.Bekerjalah bersama nak pulihkan ekonomi.Nanti survey masa depan baru orang nak melabur.

Janganlah terlalu sinis dan benci kepada negara sendiri, sehingga semua perkara sikit pun kamu nak bantai.

OKlah, mungkin takut saya ni spin untuk kerajaan (kalau betul, tak dapat satu sen pun, brader).Kamu mainlah dengan nombor ni. Angka tak menipu:
Ini dari KL Composite Index - ukuran utama Bursa Malaysia - di sini.
Boleh lihat harga pasaran penutup harian, mingguan, bulanan.

Kalau ikut harga minggu, harga KLCI pada hari pertama berdagang 2010 (Jan 4) ialah 1,292.98 points.
Harga penutup pada Julai 12 ialah 1,334.08.
Harga mingguan TERTINGGI ialah 1,339.30 points.
Maknanya harga dah naik dari Januari, lepas tu turun sikit saja.
Tak ada bukti pasaran Malaysia ni dah tak laku sebab Perkasa bising, Mahathir komplen dan Abang Anwar kena bawa pergi court, mahupun orang Khalid kini dituduh curi pasir (bukan orang Khir).

read this noteworthy posting by A.Reme here we Malaysians should learn a thing or two about our country from him.

Enjoy, I have no further comment to add, learned a few things about markets today.

Offer of PAC Chairman Post: BN Aduns tells Selangor Pakatan Government to fly kite

I blogged the other day about the Pakatan Government offer of Chairmanship of the State PAC to a BN Adun ... Beware of Greeks bearing Gifts . I doubt it to be a genuine offer but rather loaded with political intrigue. If Pakatan wants to really get down and serious about a PAC, then they should form a 11 member committee comprising of 2/3rd Opposition and 1/3rd Ruling Party members[Commonwealth Standard] otherwise this is just what it is, a political gimmick.

Anyway apparently the Selangor BN ADUNs are not taking the bait:

Adun BN Selangor tidak berganjak, tolak jawatan pengerusi PAC
Oleh Syed Mu’az Syed Putra July 16, 2010(MI)

KUALA LUMPUR, 16 Julai — Ahli Dewan Undangan Negeri (Adun) Sungai Burong Datuk Mohd Shamsudin Lias dari Barisan Nasional (BN) tetap dengan pendirian menolak usul yang membolehkan beliau dilantik sebagai Pengerusi Jawatankuasa Kira-Kira Wang Negara (PAC) atas alasan ia hanya bermotifkan politik.

Shamsudin berkata, keputusannya tidak berubah kerana ia berkaitan dengan prinsip dan maruah sebagai wakil rakyat BN.

“Saya memang tidak terima usul tersebut kerana saya bimbang ia hanya bermotifkan politik. Bahkan Adun BN yang lain dari awal sudah menolak usul tersebut.

“Ini adalah soal prinsip dan maruah saya, jadi saya perlu mempertahankan,” kata beliau ketika dihubungi The Malaysian Insider. hari ini.

Semalam Mohd Shamsudin menolak usul tersebut yang dibentangkan pada sidang Dewan Undangan Negeri (DUN) Selangor bagi membolehkan pelantikan itu dibuat secara rasmi.

Kerajaan negeri Selangor diterajui oleh Pakatan Rakyat.

Kini jawatan pengerusi PAC di Parlimen dan DUN diketuai oleh wakil kelab penyokong kerajaan manakala pembangkang pula berkhidmat sebagai anggotanya.

Shamsudin berkata sekiranya Pakatan Rakyat benar-benar serius untuk melaksanakan pelantikan tersebut maka mereka perlu buktikannya.

“Kami wakil rakyat BN akan bincang mengenai perkara ini kerana bimbang ia hanya gimik politik,” kata beliau.

Speaker DUN Teng Chang Kim berkata Shamsudin tidak boleh menolak pelantikannya kerana ia merupakan satu usul yang diluluskan oleh dewan.

“Selagi sudah diluluskan dewan, terpulanglah kepada mereka untuk terima atau tidak.

“Tetapi dari sudut dewan, usul sudah lulus melainkan ada usul untuk meminda (keputusan itu) dibentangkan,” kata Teng ketika ditanya sama ada BN boleh menolak pelantikan itu.

Semalam, Ketua Pembangkang DUN Selangor, Datuk Seri Dr Mohamad Khir Toyo menyifatkan usul pelantikan Mohd Shamsuddin sebagai Pengerusi PAC negeri dibuat berdasarkan kepentingan politik.

Beliau berkata, meskipun usul itu diluluskan oleh DUN Selangor pelantikan itu dilihat tidak memberi sebarang makna kepada usaha kerajaan negeri yang ingin mewujudkan kebebasan dalam jawatankuasa itu sebab hanya dianggotai seorang lagi Adun BN dari Semenyih, Johan Abdul Aziz manakala lima lain adalah daripada Pakatan Rakyat.

Good on you YBs from BN Selangor.

Car Prices in Malaysia is one of the Highest in The World

I have been following a cool blog...Salvatore-Dali of Malaysia-Finance Blogspot since 2007, this blog is easy to read and very informative and have plenty of info about Finance and the Economy in General, from his postings recently I find that he is into football and the arts as well. This is a posting of his which will interest all discerning Malaysians:

The Big Mac Index

The Economist's Big Mac index is a fun way to keep track of relative purchasing power parity. Though the index has its weaknesses, its still a reliable rough guide to what your currency could buy. The cost of a Big Mac, representing the cost of producing one will somehow include rental, distribution and transportation costs, cost of ingredients, wages, advertising, etc. Hence you could be earning less effectively but you could be buying a lot more in reality.

Malaysia is supposed the second cheapest place on the index followed by China. Is this a reflection of competitiveness? Or a reflection of how many "things are subsidised" in that country? We all know the answer.

Now, let's do a Big Mac index of our own but this time use the cost of buying a car - I bet you we'd rank second from the top, just below Singapore compared to the rest of the world. How in the world do we get to be one of the most expensive place on earth to buy a car??? Again, we all should know the answer.

What's really pathetic is when you divide the cost of a car with the average wage earned per country - I am bloody sure we would be NUMBER ONE in most unaffordable list.

Sorry for the glitch above..the full posting can be read here.

I agree, the price of cars in Malaysia is astronomical, there is however no global parity standard for comparison between average earning to average car price on a per country basis. If there were, probably Malaysia will be in the negative..i,e the average Malaysians cannot afford to buy cars.

The lousy transport system however makes sure that we have to buy cars whether we like it or not. On top of the AP system and the high custom levies which makes our cars one of the most expensive in the world, almost all good highways are tolled and the rates keep on going up without any end in sight.

The Government should really look into:

1. Improving the road transport system. (Improving the services provided by Buses, MRT, Railways,Taxis and make new highways without charging too much toll )

2. Taking over all the Private Toll Highway and give immediate reduction in toll by 50% for all road users. No more paying wasteful subsidies to highway operators who are already making tonnes of ringgit.

3. Stop the AP system...use the Singapore system where the Government sells certificate of elligibility to buy vehicles, this way Government gets money directly.

Also please reduce the taxes on Imported Cars lah by a wee bit. It gets ridiculous that a 2000 cc Sedan is more expensive than your average double storey linked house lah. The Money saved from paying less for cars can be used to buy OTHER purchases such as houses etc which in turn generates other business for other industries besides those automotive related as well. Kata Gomen mahu naik gaji pekerja, all good to hear but how? Ruling BN party ought to Walk the talk lah. Transform to votes for BN also you know and why not.

Subsidy Cuts are inevitable even acceptable BUT Gomen must ensure no wasteful spending

Lets forget about the Anwar Ibrahim Apology/Kow Tow Tour and the Sand robbing scandal in Selangor for a while. Here is the latest not very good news for us Malaysians:

Government To Reduce Subsidies For Petrol, Diesel And LPG And Sugar

KUALA LUMPUR, July 15 (Bernama) -- The Government Thursday announced subsidies for petrol, diesel, liquefied petroleum gas (LPG) and sugar will be reduced as a first step to the gradual subsidy rationalisation programme effective Friday (July 16.)

Subsidies for RON 95 petrol and diesel will be reduced by five sen a litre and LPG by 10 sen a kilogramme, said a statement from the Prime Minister's Office.

This means RON 95 grade petrol will cost RM1.85 a litre while LPG will be sold at RM1.85 per kilogramme.

"RON97 petrol will no longer be subsidised. It will be subjected to a managed float under which the price will be determined by the automatic pricing mechanism.

"For sugar, the upward price adjustment is 25 sen a kilogramme, it said.

The statement said the minimal changes would help Malaysia achieve a position of fiscal responsibility and "put us on a path towards reducing our deficit."

"To meet these objectives, we have chosen to make adjustments to our subsidies," it said.

Even after these changes, the Government will still spend an estimated RM7.82 billion on fuel and sugar subsidies this year.

Fuel and sugar prices in Malaysia will still be among the lowest in the region, it said.

It said the subsidy rationalisation will allow Malaysia to reduce Government expenditure by more than RM750 million this year.

The decision to reduce fuel and sugar subsidies was based on the fact that reducing fuel subsidies would have the greatest impact on Government spending and reducing sugar subsidies "will allow us to promote healthier lifestyles, it said.


Its all very good and bold of the Government to save all these millions for the nation despite the fact it would pose serious political risk to the BN Government itself. PM Najib said the reduction in subsidies will allow Malaysia to reduce Government expenditure by RM750 million and the sugar price rise will promote healthier lifestyle.

However the Government must also be reminded to ensure not to come up with more wasteful ideas and projects such as a New Parliament Building, Tuna Fish wrangling, Stainles Steel Mosque in Putrajaya, Monsoon Cup, recruiting exercise 70,000 overseas Malaysians back to Malaysia for exactly what we do not know, etc.etc and paying countless millions on Non Technical Studies and Other overseas Consultants to do God knows what.

Instead of Con-sultants who gets paid millions of fees for advising God knows what, the GOMEN people must also seriously find time to have a read and do something on what these patriotic Malaysian bloggers have to say FOR FREE:

Syed Akbar Ali of OutsyedtheBox - How to Rip off Taxpayers Money and here.

Another Brick in The Wall - Hamzah Kassim and INNO ASSOCIATES

YB Wee Choo Keong - Anti-trafficking of Persons! Anti-trafficking of National Assets!

Hantulautan - Keuntungan Felda dan Sime Darby Memalukan Bumiputra

of course the Grand Old Man - Khazanah

There are many more concerned Malaysian bloggers out there who criticize but criticizes the Government constructively. The message is the same, if the Government wants to impose subsidy cuts, it should in turn show that it does not willfully waste the people's money without any return benefit to the rakyat.

I said the Government is taking a huge political risks with subsidy cuts but the risks will be compounded and turned into less votes for the Government if it is not balanced by wise and controlled spending designed to benefit the Rakyat in general NOT just a few handful of parasites and cronies.

The BN Government ignore these advise at their peril, because if it continues to spend on wasteful projects and the GLCs keep losing billions due to misdeed/corruption, it is the ruling BN party members who would have to change their lifestyle as members of the Opposition. The majority Malays will still have political power make no mistake about that.

Israel should not even think about attacking Iran

Here is an interesting news from Reuters about Israel's purported plan to attack Iran's nuclear facilities and its dire consequences:

Think tank: Israel attack against Iran would spark long war

Oxford Research Group says furthermore that attack on nuclear facilities wouldn't prevent Iran from acquiring nuclear bomb.

By Reuters

An Israeli attack on Iranian nuclear facilities would start a long war and probably not prevent Iran from eventually acquiring nuclear weapons, a think-tank said on Thursday.


The Oxford Research Group, which promotes non-violent solutions to conflict, said military action should be ruled out as a response to Iran's possible nuclear weapons ambitions.


"An Israeli attack on Iran would be the start of a protracted conflict that would be unlikely to prevent the eventual acquisition of nuclear weapons by Iran and might even encourage it," it said in a report.

It would also lead to instability and unpredictable security consequences for the region and the wider world, it added.

The United Nations Security Council imposed a fourth round of sanctions against Iran last month over its contested nuclear program, which the West suspects is aimed at developing atomic weapons in secret.

Iran says it wants nuclear energy for peaceful uses only.

The report, by Paul Rogers, professor of peace studies at the University of Bradford, said U.S. military action against Iran appeared unlikely but Israel's capabilities had increased.

"Long-range strike aircraft acquired from the United States, combined with an improved fleet of tanker aircraft, the deployment of long-range drones and the probable availability of support facilities in northeast Iraq and Azerbaijan, all increase Israel's potential for action against Iran," the report said.

Israeli leaders usually speak only of leaving all options on the table, although Israeli Deputy Prime Minister Moshe Yaalon specifically said in May that Israel had the capability to hit Iran.

Israel is widely believed to have the Middle East's only nuclear arsenal, but refuses to confirm or deny this.

The Oxford report estimated it might take three to seven years for Iran to develop a small arsenal of nuclear weapons if it decided to do so. It said there was no firm evidence such a decision had been taken by the Islamic Republic.

Any Israeli strike would be focused not only on destroying nuclear and missile targets but would also hit factories and research centers and even university laboratories to damage Iranian expertise, the report said.

This would cause many civilian casualties, the report added.

Military action would include the direct bombing of targets in Tehran and probably include attempts to kill technocrats who managed Iran's nuclear and missile programs, the report said.

Iran's responses to an Israeli attack could include withdrawing from the nuclear Non-Proliferation Treaty and immediate action to produce nuclear weapons to deter further attacks, the report explained.

They could also include missile attacks on Israel, closing the Strait of Hormuz to push up oil prices and paramilitary or missile attacks on Western oil facilities in the Gulf.

After a first strike, Israel might have to carry out regular air strikes to stop Iran developing atom bombs and medium-range missiles, the report said. "Iranian responses would also be long-term, ushering in a lengthy war with global as well as regional implications," Rogers said.

Other options open to the West were to redouble efforts to get a diplomatic settlement or accept that Iran may eventually acquire a nuclear capability and use that as the start of a process of balanced regional de-nuclearization, the report concluded.

Think about it imagine a real Israeli strike on Iran which would not necessarily be 100% successful would have dire consequences on the world economy, besides a retaliatory attack on Iran using long range missiles, Iran could scuttle ships in the Hormuz Straits and block middle east oil from coming out. The price of Petroleum will sky rocket and and everything else will go up as well triggering economic crisis, lost jobs and consequently social upheaval on a scale no one could imagine. A Hungry Man is an Angry Man.

The Strait of Hormuz at its narrowest is 54 kilometres (29 nmi) wide.It is the only sea passage to the open ocean for large areas of the petroleum-exporting Persian Gulf. According to the U.S. Energy Information Administration, an average of about 15 tankers carrying 16.5 to 17 million barrels of crude oil normally pass through the strait every day, making it one of the world's most strategically important choke points. This represents 40% of the world's seaborne oil shipments, and 20% of all world shipments.

I do not think that America and Europe will allow Israel to do as it pleases. I think Israel's posturing is more about getting whatever concessions it can from the West to protect its inhumane siege of Gaza,Brutal Occupation of the West Bank and Settlement building in East Jerusalem so that the Palestinians can never have a state capital in Al-Quds etc.

The American Government would do well to heed the advise of their Gen Petraeus architect of the iraq war turnaround and now US Afghanistan Commander:

The [Israel-Palestine] conflict forments anti-American sentiment, due to a perception of US favouritism for Israel. Arab anger over the Palestinian question limits the strength and depth of US partnerships with governments and peoples in the AOR [Centcom's Area of Responsibility] and weakens the legitimacy of moderate regimes in the Arab world. Meanwhile, al-Qaeda and other militant groups exploit that anger to mobilise support. The conflict also gives Iran influence in the Arab world through its clients, Lebanese Hizballah and Hamas.

There is no other options open to America and the West but to triple its efforts to get a diplomatic settlement AND accept that Iran will eventually acquire a nuclear capability for peaceful and other purposes to defend itself and as the Think Tank says, use that as the start of a process of balanced regional de-nuclearization which include Israel who until this day does not deny nor confirm it has nuclear weapons.

Khazanah oh Khazanah and Talent Corp 70,000

updated.

Blogger Syed is on a roll and has dug up more losing ventures by Khazanah Nasional, alamak they are also into multi million prawn rearing in Terengganu, come to think of it those "brilliant" Khazanah Managers should really stop competing against other local business men in Malaysialah, Khazanah got very deep pocket our money mind you, to spent, not fair ..read more here

Tuna Wrangling At Khazanah Nasional.

Original Post:

I do not remember Dr. Mahathir ever writing about the Khazanah Nasional and I had a feeling he would be writing about it when I saw him over in RTM 1 giving a talk on RMK-10 last Friday when he does not seemed at ease when asked about Khazanah and the so called GLCs which followed the Singapore generic term for Government Linked Companies however nowadays some of these Linked companies may stand for Government Losing Concerns.

So yesterday 13 July 2010 what do you know, Dr Mahathir come out with this gem on his simple but great blog produced here without the Grand Old Man's permission:

1.Fresh from losing three billion ringgit via its majority owned firm Sime Darby, I hear that Khazanah is buying or going to buy "Aman Resorts".

2.These are six star resorts in Bali, Phuket and other exotic places. I don't know how profitable they are but I do know that hotels and resorts are not easy to manage, even less easy to make profits. It is the management companies which make the profits because profitable or not they get their cut of the takings.

3.I am sure Khazanah is well aware of this. Perhaps it is also aware that its investments in fishing had failed. The boats, the nets and other fishing paraphernalia are now dumped in the Langkawi Boustead boatyard. I am told they are for sale.

4.It was a great fishing venture. Special nets were supposed to be used to catch young tuna fish in the Indian Ocean. The fish would not be landed but would instead be dragged while still in the net to Langkawi. There they would be fed and grown until big enough to harvest.

5.It was as innovative a way to catch fish as any and a multimillion Ringgit industry was forecast. I don't know how much Khazanah invested in this failed venture.

6.Well, as I said, the whole investment had ended with the hardware and boats dumped in Langkawi. It did not involve billions, but it must involve maybe a hundred million plus. It is peanuts by comparison to the kind of money handled by Khazanah. We should regard it as a failed experiment. Research cost money. There is no guarantee of results. But it would be interesting to know how Khazanah came upon this idea, what were the fees, who bought the boats and fishing tackle and at what price.

7.Experience is a good teacher. Has this experience taught anyone anything.


I checked Khazanah Nasional's website and found these very important words of wisdom:

Khazanah Nasional is the investment holding arm of the Government of Malaysia and is empowered as the Government's strategic investor in new industries and markets. As trustees to the nation's commercial assets, our main objective is to promote economic growth and make strategic investments on behalf of the Government which would contribute towards nation building.

Khazanah is also tasked to nurture the development of selected strategic industries in Malaysia with the aim of pursuing the nation’s long-term economic interests.

Khazanah has investments in over 50 major companies, both in Malaysia and abroad, and our companies are involved in a broad spectrum of industries.

Khazanah is also the key agency mandated to drive shareholder value creation, efficiency gains and enhance corporate governance in companies controlled by the government, commonly known as Government-Linked Companies, or GLCs.

Certainly, I think the hotel line or tuna fish catching and rearing are not strategic business by any stretch of a economist and a layman's imagination which would contribute towards nation building.

Blogger Syed of Outsyed the Box fame who have always been on a vigilant look out on Khazanah as a good citizen should be, more comments from his blog here:

excerpts:

1. So the vendor, DLF of India, will make a USD200.0 million profit in just three years. Khazanah will be the sucker? Singapore’s Temasek was originally reported as looking at buying Aman Resorts. Wherever Temasek goes, Khazanah also ends up going there. Here is an interesting point. The valuation of USD600.0 million includes the Delhi property, which however is not part of the sale. How do you explain that?

2. This is a most mind boggling venture - Capturing large quantities of live tuna and then transporting them while still inside the nets to a safe ‘farm’ is a highly risky venture which even seasoned tuna operators in the world rarely undertake. Very few companies around the world have done this profitably. National Geographic once showed some people doing this, but maybe someone paid National Geographic to make the documentary too. How much was invested by Khazanah in this foolish investment? Not less than RM250 million. I am guessing but it is not a wild guess. Everything that Khazanah does costs the taxpayers hundreds of millions of Ringgit. And we do not know how all this money is spent.

3. No Khazanah has not learnt anything. They do pay themselves fat salaries though. A young CEO of a Khazanah company may be paid up to RM50,000 per month (cash and benefits, but mostly cash). Then they hire expensive con-sultans to think up ways in which they can lose money.
Just yesterday I heard that Khazanah pays con-sultans from a company (abbreviation ‘ey’) to advise them how to save money on their procurements. This con-sultan is believed to charge Khazanah RM300,000 per month for this particular con-sultancy.
The con-sultan simply uses a manual or some book from their principals in the US, modifies the language to suit Khazanah and charges RM300,000 per month. The public needs to know just how much Khazanah Nasional Bhd and its group of subsidiaries and associate companies have paid to the con-sultans over say the past four years?

RM100 million, RM200 million, RM400 million? How much? And what are the benefits of all this con-sultancy? How much business and profits have been generated by all these con-sultans?

And if the Government is going to go bankrupt by 2019, why is Khazanah taking out USD600 million (that will be the purchase price of Aman Resorts) out of the country?
And what has happened to Khazanah’s investment in that college or university in China? How many hundred million Ringgit (or USD) was involved there? Ada untung ke tak ada untung?

How many jobs have been generated for Malaysians from investing all these hundreds of millions of taxpayers money in all thes strange projects?

I think Khazanah Board of Directors Chaired by the PM should really look at the Management Team of Khazanah led by Azman Mokhtar and his group of very costly overseas trained and experienced Managers whether they are up to the job entrusted to them, that is to "nurture the development of selected strategic industries in Malaysia with the aim of pursuing the nation’s long-term economic interests"

This is public money we are talking about. Amanah Negara tu.

The protracted battle to gain control of Parkway maybe strategic but definitely wild tuna fish rearing and owning luxury hotels around the globe is just wasting PUBLIC money which could be made to good use somewhere else in this gloomy economy this half of 2010.

Now I hear one of the Khazanah Director/EPU Minister says that Talent Corp will be wooing 70,000 overseas Malaysians back with less bureaucracy and more perks? I wonder where these high paying people would be placed? The GLC's? and they get to have more pay doing the same job that the loyal Malaysians have been doing with lesser pay...that is a recipe for major industrial relations disasterlah. Why not selectively woo Malaysian or non Malaysian researchers and PH.D lecturers experts intheir field from overseas and recruit them to teach at the IPTAs. The rakyat will get better value for money.

One good lecturer makes 10 good post graduates students. One oversea young Malaysians recruited from overseas to the GLCs will make say 5 experienced and industrious local Malaysian Managers unhappy resulting in low morale and low production and very pissed off voters .

If you recruit 70,000 overseas Malaysian young guns they probably make 70,000 x 5 = 350,000 pissed of voters. That is not good for the ruling BN Government.

I do hope the Government realise what it is doing.

Offer of Selangor PAC Chairman to BN Adun..beware of "Greeks bearing gifts"

This is interesting news from the state with more than one tiger on the hill. Apparently the Selangor DAP controlled state Government is appointing a BN legislator to head its Public Accounts Committee, ahem, ahem, following parliamentary convention in "most" Commonwealth countries.

read the news here:

Selangor to name BN rep as state PAC chief
By Neville Spykerman July 12, 2010 (MI)

SHAH ALAM, July 12 — In another first, the Selangor legislature will appoint an opposition Barisan Nasional (BN) state assemblyman to head its powerful Public Accounts Committee (PAC) — following parliamentary convention in most Commonwealth countries.

A motion to appoint Datuk Mohd Shamsudin Lias as state PAC chairman will be tabled at this sitting of the Selangor state assembly.

Currently, Parliament and all other state PACs are headed by ruling government backbenchers with the opposition serving as members.

“We believe in setting examples and milestones. This is a good move,” Selangor executive councillor Dr Xavier Jayakumar told The Malaysian Insider today.

The Sungai Burong assemblyman, who is currently one of two BN state lawmakers in PAC, was selected because of his experience.

Mohd Shamsudin is a former civil servant, having previously served as a district officer.

Dr Xavier said Parliament should follow the example and appoint a federal opposition member as head of its PAC.

“This will allow the opposition to play its role as an effective check and balance on government administration,” said Dr Xavier.

DAP’s Lau Weng San said the motion to appoint Mohd Shamsudin will be supported by both Pakatan Rakyat (PR) and BN state lawmakers.

“I understand that discussions have been held between the Speaker and the Selangor opposition leader,” the Kampung Tunku assemblyman.

He added that Mohd Shamsudin had a good track record in the state assembly and was known to be hardworking.

Mohd Shamsudin is due to replace PKR Kajang assemblyman Lee Kim Sin as state PAC leader. Lee will remain as ordinary member of the select committee.

So assuming that a BN legislator accepts the post and in keeping with Commonwealth norms where 2/3rd of the PAC is opposition while 1/3rd is from the governing party. Where then stands the much vaunted Selangor Legislative Assembly Select committee on Competency, Accountability and Transparency (SELCAT) chaired by the DAP's Mr Speaker Teng himself.

Before Pakatan supporters starts to go ga, ga about the latest Selangor Executive move, I think the the question is WHO decides the cases going to the Selangor State PAC and/or SELCAT or the PAC is just a ceremonial committee designed to take the mickey out of the BN Legislators.

Going by the latest SELCAT hearings, it is the most powerful oversight committee of the governing state Government where its Chairman seemed to be the judge and the executioner. Anyway, I think many people are not impressed of SELCAT handling of the sand issue brought out by MP Mike as commented even by Haris Ibrahim here - SELCAT; Selective Competency, Accountability and Transparency. That being said, I do not think SELCAT would give away its powers happily just like that.

I hope the BN legislators check out the offer by the Pakatan first before they take up the State PAC Chairman Post, while its good to "baik sangka" but then again I would be wary of "Greeks bearing gifts".

Scholarships for Malaysians; its just impossible to please everybody

Scholarship is a most sensitive subject, especially when we have a multiracial country and multi language education system isn't it. I do not envy the JPA when it comes to approving scholarship applications based on various criteria, the Perlembagaan Article 153, now its minimum of 9As etc.

I do hope that the main objective of giving out Government JPA Scholarship that is to provide qualified poor students financial help where their parents cannot afford it is not forgotten in all these. A poor student who scores 4As in a rural school could be better than a student who scores 10As in a town school, I know this for a fact, I was a MARA scholarship holder. On top of that I agree that students who excel in sports and have leadership potential but scored less than 9As should also be given consideration, I happen to think that a Government Scholarship holder should be an all rounder who excels in studies,sports and some social activity this will make them an all round citizen or leaders for the future.

Here is good and hopeful news for scholarship applicants especially if they have scored 9As and above:

Sidelined top scorers can now apply for scholarships
By Shazwan Mustafa Kamal July 11, 2010 (MI)

KUALA LUMPUR, July 11 —Students who have scored 9A+ in last year’s SPM examinations but failed to obtain PSD scholarships can now submit their application to the Public Services Department (PSD).

Deputy Prime Minister Tan Sri Muhyiddin Yassin said that the government would ensure that all tops scorers in the country received scholarships to pursue their tertiary education.

“If the students have scored 9A+ but they have not received the scholarship offer they should come forward to the Public Services Department and they (PSD) will take it into account,” said Muhyiddin.

The Education Minister confirmed what Prime Minister Datuk Seri Najib Razak had mentioned during the MIC annual general assembly yesterday.

Muhyiddin said that all students, regardless of race, would be able to obtain educational monetary support provided they fulfilled certain criteria.

“The statement from the Prime Minister yesterday is surely happy news to all parties. All 9A+ scorers will obtain scholarships regardless of race,” said the DPM.

But he did not elaborate on how the Najib administration would be able to sponsor all the high achievers in the country amid a recent announcement that Malaysia’s economic growth would be experiencing a slump in the near future.

“If it’s a policy announced by the Prime Minister, the government will see that it is executed. Why ask about the money?” quipped Muhyiddin.

Najib announced yesterday that the PSD scholarships are for students of all races who want to pursue higher studies in local or foreign institutions.

“Each student irrespective whether Malay, Chinese, Indian, Kadazan or others who obtain 9A+ (in their SPM results) qualify for the JPA scholarships, be it for studies locally or overseas,” said Najib.

The Prime Minister said this scholarship opportunity showed that the government was serious about bringing forth a transformation in line with the 1 Malaysia concept.

“This shows that 1 Malaysia is not only a slogan but is being practiced in Malaysia,” he said.

PERKASA has now made it its business to remind the Government of its duties to the Perlembagaan:

Malay groups insist on race ratios for Federal scholarships
By Shazwan Mustafa Kamal July 11, 2010(MI)

KUALA LUMPUR, July 11 — The Perkasa-led Malay Consultative Council (MPM) continued to peddle its pro-Malay agenda today by demanding the Najib administration’s new federal scholarship to be allocated according to the country’s racial breakdown.
MPM committee member Professor Datuk Dr Kamarudin Kachar said they welcomed Datuk Seri Najib Razak’s announcement that all students who scored 9A+ would obtain full PSD scholarships but there had to be “some adjustments” to the selection criteria.

“While we welcome the Prime Minister’s decision of a merit-based criteria to awarding scholarships, it must reflect the country’s racial ratio.

“The Malay population of this country is 67 per cent. That means 67 per cent of scholarships should be set aside for deserving Malays and Bumiputeras,” Kamarudin told reporters here.

Kamarudin claimed that preserving the country’s racial status quo was important to “ensure stability, harmony and to avoid conflict.”(yes I agree)

MPM also told the government to ensure that academic excellence was not the only benchmark for the awarding of scholarships.(yes I agree)

“They should award scholarships from all fields, not just for those who excel academically. Sometimes the whole process is too-exam oriented. Students who are capable leaders and who excel in sports should also be given scholarships,” said another committee member, Jais Abdul Karim.

Jais, who is also the president of Malay student group GPMS, said the government should establish a special committee within the Public Services Department to discuss the criteria of those who are deserving of scholarships.(yes I agree)

“You cannot liken a student who comes from a rich background and a student who is poor and give them the same assessment criteria for scholarships. Students who are poor should be given priority,” added Tan Sri Dr. Ibrahim Abu Shah, member of MPM’s steering committee.

The usually outspoken MPM chairman and Perkasa president Datuk Ibrahim Ali was unusually silent throughout the press conference.

Ibrahim broke his silence mid-way through the press conference by reiterating his colleagues’ viewpoints on maintaining the country’s racial status quo when awarding scholarships.

Ibrahim also demanded that the government cease its current practice of sending undergraduates overseas to study.

“The government says it spends RM1.4 billion in financing students overseas. This was done in the past because we did not have institutions back then which could support our students. But now we have so many learning institutions.

“Studying medicine in the United Kingdom costs RM1.2 million. If you were to study it locally, it will only amount to RM400,000. Save the money so that many others can benefit from it,” said the Pasir Mas MP.(makes sense to me)

For Scholarship applicants who do not qualify for the JPA program do not lose hope there are plenty of organisations who gives out scholarship:

1. Assunta Hospital Scholarship
2. Astro Scholarships Award
3. British American Tobacco BAT Malaysia Foundation Scholarship
4. CCM Scholarships
5. Employees Provident Fund (EPF) Education Withdrawal Scheme
6. Fujitsu Asia Pacific Scholarship
7. Gamuda Scholarship Awards
8. GIC Global Scholarship
9. Great Eastern Supremacy Local Scholarship
10. Great Eastern Supremacy Scholarship
11. Great eastern Supremacy Regional Scholarship
12. IJM Corporation Berhad Scholarships
13. JAL Scholarship Program
14. Jardine Scholarship
15. Khazanah Scholarship Awards
16. LITRAK Scholarships
17. Master Builders Association Malaysia Education Fund
18. Manulife Scholarships
19. Maxis Scholarship For Excellence
20. Micron Scholarship
21 MNRB Scholarship Fund 2007
22. M S Scholarship
23. Mudajaya Scholarship Awards
24. NST - MAPCU Scholarship
25. Petronas Education Scholarship
26. Powertek Berhad Scholarship
27. Premerite Scholarship
28. Putrajaya Perdana Scholarship Awards
29 Real Rewards Scholarship
30. Road Builder Group Scholarship
31. Rohas-Euco Education Fund
32 Securities Commission Malaysia Scholarship
33. Shell-Curtin Scholarship
34. Shell Malaysia Downstream Scholarship
35. Shell Malaysia Exploration Scholarship
36. Tanjong Scholarship Awards
37. The Star Education Fund Scholarship Awards 2007
38. Top Glove Scholarship
39. Yayasan KLK Scholarship
40. Yayasan Proton Scholarship
41. Yayasan Sime Darby Scholarships
42. Yayasan Telekom Malaysia Scholarship
43. YTL Power Scholarship
44. Intel Malaysia Scholarship
45. JAL Scholarship Programme 2007
46. UEM Group Scholarships
47. VisDynamics Holdings Berhad Scholarship
48. Shell Malaysia Scholarship 2008
49. Yayasan Khazanah Global Scholarship 2008
50. Shell Malaysia Scholarship 2009

For readers who are interested, do checkout this very helpful site Malaysia-Scholarship.com.

A noteworty Post by Aspan Alias: Timely advise to Ibrahim Ali and KJ

A note worthy post by blogger Aspan Alias today, an advise to Ibrahim Ali of Perkasa and KJ of Pemuda UMNO and a little bit of friendly reminder to PM Najib and TPM Muhyidin too:

Khairy; Ibarat apam tebal: masak diluar, mentah didalam

Pertikaman lidah diantara Khairy Jamaludin dengan Presiden Perkasa nampaknya belum lagi selesai. Terbaru Ibrahim melenting kerana tindakkan Khairy membidas Wee Choo Keong, AP Wangsa Maju dan menyifatkan Wee Choo Keong sebagai Ibrahim Ali versi China.

Dengan kata-kata itu jelas menunjukkan Khairy memandang rendah kepada Ibrahim dengan menjadikan Ibrahim bahan bidalan olehnya semasa berkelahi dengan sesiapa yang dia (Khairy) tidak suka.

Elok kita ramai-ramai menasihati Khairy supaya jangan berkata-kata tanpa adat, budaya dan adab sebagai Ahli Parlimen dan memegang jawatan Ketua Pemuda UMNO Pusat, apatah lagi seorang yang katanya datang dari NS, negeri dalam mana Melayunya masih berpegang teguh kepada penghidupan beradat.

DiNS, masalah pemimpin yang kekurangan adatlah yang merupakan sebab rapuhnya segala sistem kehidupan termasuk sistem politiknya.

Khairy merupakan Ahli Parlimen Rembau daerah yang dilingkungi adat yang menjadi pakaian hidup bagi semua anak buah didalam luak itu sejak turun temurun.

Khairy hendak menjadi ketua yang garang dan digeruni, tetapi tidak kena dengan caranya. Pemuda UMNO tidak ada perubahan dari pemuda yang dipimpin oleh Hishamuddin, malahan pemuda begitu tersasar dari perjuangan yang sepatutnya diterajui oleh Khairy.

Kehadziran pemuda tidak ada membawa apa-apa kesan kepada perjuangan UMNO khususnya untuk orang Melayu. Khairy tidak mampu memberitahu Najib yang UMNO kepimpinannya lebih memberi faedah kepada orang bukan Melayu.

Khairy tidak nampak perbezaan diantara Muhyiddin yang sekarang bercakap diatas galeri Melayu. Khairy patut menyedarkan kedua-dua pimpinan Najib dan Muhyiddin yang berbeza itu patut dicarikan ‘point of reconciliation’nya.

Katakan kepada mereka berdua (Najib dan Muhyidin) yang tarian diantara mereka berdua tidak sumbang, mesti seirama dan selagu; bukannya seorang dengan liberilisasinya dan yang seorang lagi dengan perjuangan kebangsaannya.

Rakyat sedang memerhatikan dengan teliti apa yang dilakukan oleh Najib dan apa pula yang dilakukan oleh Muhyiddin.

Jadi Khairy banyak lagi tugas yang beliau tidak lakukan dan sempurnakan; tidak usah menghentam Ibrahim Ali sahaja.

Khairy mesti menerima kenyataan yang hakiki; seburuk-buruk Ibrahim Ali kepada Khairy, Ibrahim lebih praktikal kegiatannya dan bukan macam Khairy yang hanya pandai berretorik semata-mata.

Melalui PERKASA yang diwujudkannya sudah lahir banyak resolusi-resolusi sebagai input kepada pengisian NEM misalnya, melalui Kongress Ekonomi Bumiputra anjuran pertubuhan yang diketuainya.

Khairy setakat ini buat apa selain dari berdemonstrasi dihadapan kedutaan AS? Kepimpinan Khairy tidak ada bezanya dengan kepimpinan Hishamuddin dalam pemuda.

PERKASA walaupun masih baru, tetapi ada sesuatu yang ‘organic’ dilakukannya. Dalam isu ini Ibrahim pun ada kesilapannya. Ibrahim sepatutnya tidak menjawab cabaran Ketua Pemuda ini kerana Khairy ini bercakap macam kanak-kanak yang masih ‘kencing bercabang’.

Memberikan reaksi kepada Khairy adalah tindakkan yang kurang bijak. Khairy bukannya pemimpin. Khairy bukannya pelapis kepada kepimpinan; Khairy hanya ‘pelapik’ kepada mereka.

Khairy menjadi Ketua Pemuda hanya kerana dia menantu PM yang dulu. Saya tidak ada peluang menjadi menantu PM; mungkin kalau saya menantu Pak Lah saya atau sesiapa pun boleh jadi Ketua Pemuda.

Lagi pun saya memang tidak layak jadi menantu Pak kalau pun ada peluang; takkanlah bapa mertua dan menantu hanya 13 tahun perbezaan umurnya (melawak sahaja).

Kalau Ibrahim Ali yang menjadi menantu Pak Lah dulu saya yakin Ibrahim Ali tidak akan dipecat dari UMNO malah Pak Lah akan memanggil ramai ketua pemuda bahagian untuk menjadikan Ibrahim sebagai Ketua Pemuda Malaysia atau jawatan yang tinggi-tinggi dalam parti. PERKASA pun tidak mungkin wujud.

Ibrahim jangan memberikan reaksi terhadap sindiran Khairy itu. Berikanlah reaksi kepada isu-isu yang lebih bermakna. Tinggalkan sahaja isu Khairy kerana dia hanyalah seorang ‘political parasite’ yang banyak merosakkan partinya.

Percayalah, apa-apa yang cepat naik akan cepat turun. Ingat tu Khairy. Kalau nak buat kueh apam yang tebal apinya biarlah kecil supaya apam itu sempurna: masak sampai kedalam.

Jika kita hendak apam itu masak dengan cepat, apinya kenalah besar. Tetapi jika apinya terlalu besar apam itu nanti akan hanya masak diluar, tetapi dalamnya masih mentah dan cair dan apam itu pun cepat basi.

Kalau nak melakukan sesuatu biarlah 'slow-slow' tetapi tahan lama.

Begitulah kaedahnya, jika kita hendak memperbandingkan Khairy sebagai seorang pemimpin politik; dalam dirinya terlalu dangkal semangat perjuangannya.

Itulah sebabnya saya suka apam yang kecil, macam apam mangkok yang selalu dijual digerai-gerai kueh itu. Apam mangkuk ini masak diluar dan didalam dan kita senang tahu bila dia sudah masak dengan secukupnya. Kalau dah nampak belahan keatas apam itu maka apam itu pastinya sudah masak dan baru boleh dimakan.

Tetapi Khairy ini ibarat apam tebal, masak diluar, mentah didalam. Tidak boleh nak dimakan sendiri, apatah lagi untuk menjadi hidangan bagi tamu yang ramai.

read the rest in Aspan Alias's blog here.