Subsidies in Malaysia Should be reduced gradually but not immediately and save Money on UNNECESSARY

Lets look at the subsidies the government are giving on commodities such as petrols, gasoline, sugar, flour and also healthcare and education. in 2009 , the government subsidies was staggering high at RM74billions. Even other oil producer nations does not subsidies so much for the people's. The Minister incharge was saying that the country will go bankrupt if the subsidies continues. Yes I do agree with it, it's a serious trouble we may faced in future. And the subsidies for petrol and foods should reduced gradually but not immediately but I think healthcare subsidies should maintained. Why ? Petrol not subsidised, people's still can take public transport, healthcare benefit not subsidised then let the rakyats self-dying if they are not affordable ? And government spending still can be further reduced on other ways such as stop non-benefit multi-project (u know i know), unnecessary expenditure, tender project to be more transparent (stop corruption), pay on the price it should be (Karipap RM0.40, pls dont pay RM4 , computer RM3000, dont pay RM15000), unnecessary investment (make own spaceship rather than sending astronaut to space to explore nothing by paying hundred millions). And don't forgot Petronas is still earning huge profit staggering and over hundreds billions. Hope this money reinvested and used the profit wisely. We can accept subsidies to be removed, we cannot accept taxpayers money simply be spend. The government can do it, we also can. When the public account release again for 2010, HOPE NO MORE RM3000 computer paid at RM15,000. Then it will be worthy to tied our stomach for better Malaysia. Mr Prime Minister (Datuk Najib), hope you can do it without disappointing the RAKYAT.

Berjaya Corp Berhad To Buy Ascot Sports

Berjaya Corp Bhd has proposed to purchase 70% stake in Ascot Sports Sdn Bhd, a company owned by Vincent Tan with a cash of RM525mil. As Ascot Sports Sdn Bhd had just been approved for the sports betting licenses by Finance iinistry on January 2010. Vincent Tan is Berjaya Corp chairman, CEO and largest shareholder with direct stake of 45%.

The purchase would be partly funded by the issuance of up to RM614.45mil nominal value of 10-year 8% irredeemable convertible unsecured loan stocks (Iculs) on the basis of one RM1 nominal value of Iculs for every eight of the company's shares held. The sale price is RM9.37 per share based on Ascot Sports' paid-up share capital of RM80mil comprising RM1 shares. Berjaya Corp said Tan had agreed to guarantee that the company would make a cumulative after-tax profit of at least RM375mil for the first three years of operations and had backed this with an offer to deposit RM81.25mil worth of listed securities. For the current financial conditions, Ascot Sports had net liabilities of RM11.2mil and loss of RM4.6mil for year ended Dec 31, 2008.

Vincent Tan plan was 23 years ago as the sports betting licence was first granted by the Government in 1987. He says he is glad that Prime Minister Datuk Seri Najib Tun Razak is economically sound like Tun Dr Mahathir Mohamad and understands economics. This licence will generate revenue to the company which, in turn, will help the Treasury particularly in these trying times. Haha. Is it indirectly indicating the leader between Mahathir and Najib reign are not economic wise and friendly ?

Berjaya Share already surge to 10months high lor...late..

Najib announced New Economic Model 2010

Prime Minister Najib Razak had announced the latest New Economic Model 2010 as replacement for the controversial New Economic Policy (NEP). The NEP was criticized as bias and was inequality distribution of the nation wealth. The announced New Economic Model was says that to be fair to all races. Prime Minister Datuk Seri Najib Tun Razak says that it will generate benefits for all Malaysians, irrespective of race under its inclusive growth goal and approach. 

The New Economic Model 2010 (NEM) aims:

1. Special Economic Reform unit will be set up to ensure the successful implementation of the NEM and the choosing of economic activities that will be declared as National Key Economic Activities or the country's economic champions.
2. Government has identified 6 National Key Economic Activities to be the engines of growth to generate high growth rates including oil and gas, electronic and electrical, Tourism, Agriculture and Financial Services.
3. NEM will focus on inclusiveness where all Malaysians of all races will contribute.
4. The NEM aims to take Malaysia to a high income country with per capita income of US$15,000, from the current US$7,000, in 10 years.
5. NEAC report will be used as a roadmap to a new Malaysia but welcome public input to make them part of the decision process.
6. NEM forms the backbone of reform and is vital in the rebuilding of the Malaysian economy.
7. Government relooking at the subsidy system and introduction of GST which are common sense policies that need to be implemented.
8. Carry out the economic reforms needed for businesses to grow and people to prosper.

Besides, Najib's also announced that:

1. Petronas has identified two subsidiaries to be listed on Bursa Malaysia.
2. Government and EPF to jointly develop 3,000 acres of land in Sungai Buloh that will produce activities worth RM5bil.
3. Pos Malaysia to get new investor; wages to be improved, as Khazanah Holdings to divest its investment in Pos Malaysia after detailed study and review of postal services.
4. EPF will be allowed to invest more money overseas to get better returns.
5. Government to allow private sector investment in GLCs through new coalition of public-private sector
6. MIDA to be corporatised to make it more flexible, empowered to draw in more investment, including offering instant investment incentives. It is to be renamed Malaysian Investment Development Authority.
7. Private sector innovation to be supported.
8. Modernisation of our education to create a world-class workforce is imperative to achieve high income nation status.