Saturday 6 April 2013

YES! Where are the billions of Petronas money?



YES! Where are the billions of Petronas money?
BELOW are three selected responses posted by Malaysia Chronicle readers to an article by Johor PKR chairman Chua Jui Meng.
It is long but very factual and interesting to those who still think the super corrupt Umno-led Barisan Nasional (BN) is still their savior after 55 years of misrule and misdeeds:

Saturday, 06 April 2013 10:00
THE MISSING MONEY: Where has our oil wealth GONE? - Jui Meng
Written by  Chua Jui Meng

MALAYSIA’S non-commodity Khazanah Nasional, founded in 1993, is ranked 23 with US$34 billion in assets and a Linaburg-Maduell Transparency Index (LM-TI) of 5.
The world’s largest SWF is Norway’s oil-based Government Pension Fund-Global. It was set up in 1990 and is currently registered with assets worth US$664.3 billion with a perfect 10 LM-TI.
UAE-Abu Dhabi’s oil-based Abu Dhabi Investment Authority, established in 1976, is ranked second with US$627 billion with a 5 LM-TI.
At third ranking China’s non-commodity SAFE Investment Company which was founded in 1997 and now manages assets worth US$567.9 billion with a 4 LM-TI.
That’s the top three SWFs in the world. Now, let’s focus on our neighbours.
Nearest neighbors
Singapore’s non-commodity Government of Singapore Investment Corporation that was set up in 1981 is ranked 8th with assets at US$247.5 billion and a 6 LM-TI.
Following at 9th rank is another Singapore non-commodity SWF, Temasek Holdings which was established in 1974. It has US$157.5 billion in assets and a perfect 10 LM-TI.
Even countries like Kuwait, which was severely damaged by Iraq’s bombing and brief occupation, Libya, Kazakhstan, Algeria and South Korea which was far poorer than Malaysia in the 60s, 70s and 80s.
Malaysia Boleh! (Malaysia Can!) is thus really Malaysia Tak Boleh! (Malaysia Cannot!) under BN-Umno’s 55-year rule.
http://www.swfinstitute.org/fund-rankings/

Sovereign Wealth Fund Rankings

Largest Sovereign Wealth Funds by Assets Under Management
Country
Sovereign Wealth Fund Name
Assets $Billion
Inception
Origin
Linaburg-Maduell Transparency Index
Norway
$664.3
1990
Oil
10
UAE – Abu Dhabi
$627
1976
Oil
5
China
$567.9**
1997
Non-Commodity
4
Saudi Arabia
$532.8
n/a
Oil
4
China
$482
2007
Non-Commodity
7
China – Hong Kong
$298.7
1993
Non-Commodity
8
Kuwait
$296
1953
Oil
6
Singapore
$247.5
1981
Non-Commodity
6
Singapore
$157.5
1974
Non-Commodity
10
Russia
$149.7*
2008
Oil
5
China
$134.5
2000
Non-Commodity
5
Qatar
$115
2005
Oil
5
Australia
$83
2006
Non-Commodity
10
UAE – Dubai
$70
2006
Oil
4
UAE – Abu Dhabi
$65.3
1984
Oil
9
Libya
$65
2006
Oil
1
Kazakhstan
$61.8
2000
Oil
8
Algeria
$56.7
2000
Oil
1
UAE – Abu Dhabi
$53.1
2002
Oil
10
South Korea
$43
2005
Non-Commodity
9
US – Alaska
$42.8
1976
Oil
10
Iran
$40
2011
Oil & Gas
n/a
Malaysia
$34
1993
Non-Commodity
5
Azerbaijan
$32.7
1999
Oil
10
Brunei
$30
1983
Oil
1
France
$25.5
2008
Non-Commodity
9
US – Texas
$25.5
1854
Oil & Other
9
Ireland
$18
2001
Non-Commodity
10
New Zealand
$16.6
2003
Non-Commodity
10
Canada
$16.4
1976
Oil
9
Chile
$15
2007
Copper
10
US – New Mexico
$14.9
1958
Non-Commodity
9
Brazil
$11.3
2008
Non-Commodity
9
East Timor
$11.1
2005
Oil & Gas
8
Bahrain
$9.1
2006
Non-Commodity
9
Oman
$8.2
1980
Oil & Gas
1
Peru
$7.1
1999
Non-Commodity
n/a
Botswana
$6.9
1994
Diamonds & Minerals
6
Mexico
$6.0
2000
Oil
n/a
Chile
$5.9
2006
Copper
10
US – Wyoming
$5.6
1974
Minerals
9
Saudi Arabia
$5.3
2008
Oil
4
China
$5.0
2007
Non-Commodity
4
Angola
$5.0
2012
Oil
n/a
Trinidad & Tobago
$2.9
2000
Oil
8
US – Alabama
$2.5
1985
Oil & Gas
n/a
Italy
$1.4
2011
Non-Commodity
n/a
UAE – Ras Al Khaimah
$1.2
2005
Oil
3
Nigeria
$1.0
2011
Oil
n/a
Palestine
$0.8
2003
Non-Commodity
n/a
Venezuela
$0.8
1998
Oil
1
US – North Dakota
$0.5
2011
Oil & Gas
n/a
Vietnam
$0.5
2006
Non-Commodity
4
Kiribati
$0.4
1956
Phosphates
1
Gabon
$0.4
1998
Oil
n/a
Indonesia
$0.3
2006
Non-Commodity
n/a
Mauritania
$0.3
2006
Oil & Gas
1
Equatorial Guinea
$0.08
2002
Oil
n/a
UAE – Federal
n/a
2007
Oil
2
Oman
n/a
2006
Oil
n/a
UAE – Abu Dhabi
n/a
2007
Oil
n/a
Papua New Guinea
n/a
2011
Gas
n/a
Mongolia
n/a
2011
Minerals
n/a

Total Oil & Gas Related
$2,989.4




Total Other
$2,192.4




TOTAL
$5,181.8



*This includes the oil stabilization fund of Russia.
**This number is a best guess estimation.
***All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their assets, from other publicly available sources. Some of these figures are best estimates as market values change day to day.
Updated December 2012

Biggest beef
My biggest beef with the BN federal government is this: Why is there no oil-based SWF for Malaysia?
Malaysia is the 27th largest oil producer in the world, rolling out 693,700 bbl/day. Only 114 countries are listed as at 2009 and 2010.
Compare Malaysia with the above mentioned countries that are doing better in SWF asset management: Kuwait (10th at 2,494,000 bbl/day), Libya (17th at 1,790,000 bbl/day), Kazakhstan (18th at 1,540,000 bbl/day), Algeria (15th at 2,125,000 bbl/day), South Korea (64th at 48,180 bbl/day) and Singapore (82nd at 10,910 bbl/day).
Petronas , founded in 1974, is today a global player in oil and gas exploration.
Why is the government just satisfied with an annual RM100 million CONTRIBUTION to Kwan since 1988? Are you treating Malaysians as monkeys and giving out peanuts?
Where has Petronas’ trillions of ringgit in revenue over the past 38 years gone to? Did Petronas’ oil and gas exploration presence in 32 countries outside Malaysia contribute or help facilitate the bulk of RM1.08 trillion in capital flight in the last decade?
Why avoid establishing an oil-based sovereign fund for the people and country? Is it because financial transparency and accountability would be a pain?
Drop in profit, rising national debt
Petronas’ Q3 2012 profits are down 22%. That is a significant drop in financial performance.
But all these beg the question: With such wealth over 38 years, why is Malaysia’s national debt, as reflected by Budget 2013, at RM502 billion or 1.3% short of the 55% legislated debt ceiling?
But Deputy International Trade and Industry Mukhriz Mahathir had let the cat out in an interview with The Edge last year, claiming that Malaysia’s debts were well managed as the bulk of the RM800 billion borrowings were domestic!
A debt is a debt! You have to repay all, whether domestic or foreign.
Also, which is the true figure for our federal debt? RM502 billion or RM800 billion?
http://chuajuimeng123.blogspot.com/
The three responses by MC readers:

Saturday, 06 April 2013 15:21 posted by UMNO TAK BOLEH -- THEY WILL BANKRUPT MALAYSIA
READ THIS - IT IS VERY IMPORTANT (especially for the Malays and those who want to be politicians in Malaysia. Send this to everyone and every politician. Though the comment is long, it is very important to your future and the prosperity of Malaysia).

The only way for Malaysia to succeed and prosper is to abandon racial politics. There is no other way. The alternative is bankruptcy and failure for the nation. Here is why... (read carefully and think deeply)...

China, Hong Kong, Taiwan, South Korea and Singapore have made tremendous economic progress during the last three decades. Except for South Korea, do you notice the common factor in these countries that prospered? CHINESE. (By the way, even the Koreans have Chinese root and Chinese-culture, the Japanese too are the same). Malaysia could have been in the same group (as it once was a promising Tiger economy of Asia) but is now not only left far behind by the others but is also falling behind lesser economies like Thailand, Vietnam, Indonesia and Philippines.

The Malays have to wake up to the lies of UMNO, and realise that the Chinese are an ASSET to the nation and not a liability. Look around you (not just in Malaysia but also in other places where there are Chinese), the Chinese are a major engine of economic growth everywhere they are found. This is a fact you can never change or eliminate or put down because they are a dynamic people who are hardworking, intelligent, and value education above everything else (ask any Chinese parent what is most important for their children, they will tell you it is education--and they are WILLING to spend their life saving just to give their children the best education possible). Hence, it is damn bloody stupid of UMNO (esp. Dr M) in trying to put down the Chinese in Malaysia instead of using them to drive the economy. (Every Chinese loss to the nation is a GAIN to another country).

If all the Chinese leave Malaysia, Malaysia will be very weak and backward economically, especially when Malaysia run out of oil and gas. Where are all the people going to get employment and who are going to pay taxes? Therefore, wake up, Malays, UMNO has been lying to you all the time while they stole from the nation. If you don't wake up now, Malaysia and the Malays will become the sick man of ASEAN; even Myanmar will overtake Malaysia. Therefore, appreciate the Chinese talent for what they are, an ASSET to the nation. Malaysia is lucky to have lots of Chinese. Can you name me a country where it has Chinese and that country did not prosper? Everywhere in the world, the more Chinese they have, the more they prosper.

Look at China, the Chinese in China were kept down by communism, but once they were freed from the restraints of communism and allowed free enterprise, IN ONE GENERATION (repeat, in ONE generation only), China went from backwardness to the second biggest economy in the world. China has progressed so much and so fast that even USA is borrowing from China (this was unthinkable some ten or twenty years ago). Today, no one doubts that, in time to come, China will grow and become the number one economy in the world. So Malaysia, whither thou want to go?

As the Chinese of China were once kept down by communism, Chinese in Malaysia are now kept down by RACISM which discriminates against them. Two millions Chinese have already left Malaysia, can you afford to lose more? Bear in mind that those who left are the best. Just imagine the amount of taxes that could have been collected from them yearly, and also the number of jobs they could have created, if they didn't leave. Don't forget also the income taxes from those they would have employed and the economic multiplying effect of their total expenditures. If the two millions didn't leave, how much bigger Malaysia's economy would have been and how much richer everyone would be today? What we lose is another country's gain.

UMNO's racist policies have HAMSTRUNG the economy, SLOWING it down tremendously and reducing its overall size. Racial discriminatory practices have caused many talented Chinese to migrate to other countries. The talented Chinese CANNOT be put down, they will just leave and go to where they are wanted and they will prosper there. What Malaysia lose is not just its Chinese Malaysians, but most importantly its talent, its economic growth, its employment, its tax revenue, its competitiveness, its wealth, its potential, its GDP growth, its income expansion, its knowledge pool, its skill pool, its creativity, its innovativeness, and its prosperity. That is why Malaysia had stunted economic growth, and it will continue to have stunted economic growth as more and more talents leave for other shores. Unless the Malays wake up to this reality and kick out UMNO, the more Chinese (as well as talented Indians and Malays) leave Malaysia and migrate elsewhere, the more Malaysia is going to fall behind other countries in economic and industrial development. Even all the wealth in Petronas will not be able to compensate for Malaysia's great economic losses in the long term. Wake up, Malays, before it's too late when our oil and gas run out and the nation has nothing to fall back on.

Mahathir had caused millions of talented Chinese Malaysians to leave (never to return again) and substituted them with unskilled, uneducated, lower wage foreigners. Only a foolish leader would do such a thing and Mahathir had done just that. No wonder your gaji stayed stagnant for decades (because these new immigrants are willing to work for lower wages), while Singapore grows by leaps and bounds (gaji naik lagi naik and currency appreciates in value). A tiny island nation, without natural resources, can have an economy that is EQUAL to Malaysia which has vast natural resources of oil, gas, timber, minerals, hydro-electric power, water, rubber, palm oil, land, etc. Yet UMNO will still have you believe that they (the Malays) can do it all by themselves--this is building castle in the air because Malaysia's education, competitiveness and economic development are falling behind others. When Mahathir replaced 'qualification' with 'kulitfication', he began the downfall and the rots are set in place. Human history has repeatedly shown that racism can NEVER succeed. Talent will move to where it can flourish, especially in today's highly mobile world. Racism is destined to fail and fail in a big way.

Therefore, if Malaysia wishes to prosper quickly, ALL MALAYSIANS, regardless of race, must put their shoulders to the wheel. Start by stopping racial discrimination in every way---in education, jobs, business, civil service, promotion, etc---and treat everyone equally. Then and only then can we prosper together. As long as the racial discrimination continues to be a national policy of UMNOputras, the exodus of talent from Malaysia will continue because the talented Chinese will vote with their feet and move to greener pastures elsewhere, eventually leading to poverty in Malaysia as the national debts continue to pile up. In this connection, the Malays must wake up to the lies of UMNO BEFORE it is too late, BEFORE the nation goes bankrupt. You either wake up NOW and kick out UMNO in GE13 OR you will wake up later when Malaysia goes bankrupt, and you have no job and no food on the table. (To make matter worse, UMNO will then blame the Chinese for Malaysia's bankruptcy. But it is not the Chinese but UMNO's mismanagement, corruption, and abuse of power that will cause Malaysia's bankruptcy).

As it is today, the nation is already heavily in debts to the tune of RM502 billions (RM600 to RM700 billions if other considerations are included--govt. is not telling the truth--Mukhriz recently accidentally let out the figures RM800 billions). This is a huge amount, and with each passing year, the national debt increases because we have a budget deficit. Meanwhile the oil, gas and timber are depleted--if not for these natural resources, Malaysia would be a bankrupt nation long ago. Today, Malaysia is LIVING ON BORROWED TIME before bankruptcy, which will come when oil and gas run out because oil and gas are now paying for more than 40% of the nation's operating expenditure. The country's economy is so badly run that bankruptcy is a CERTAINTY when our oil and gas are depleted. Take a look: In the last five years, Badawi and Najib (both were also Finance Ministers, even though they were unfit, untrained, and unqualified for the position) have ballooned the national debts from RM266 billion in 2007 to a GIGANTIC sum of RM502 billions in 2012 and still growing rapidly. This is a monstrous leap of 88.7% in just FIVE YEARS. If there is an indication or signal that Malaysia is going bankrupt, this is it--the enormous national debt. Najib does not know how to run a country's economy--he only knows how to spend, spend and spend (and of course, this means commission, commission and commission to him and all the cronies). Therefore one day, you or your children will wake up to a BANKRUPT nation and it would be too late to save Malaysia then because our oil and gas would be depleted. With no jobs and a growing unskilled labour force to add to the strain on our limited resources (no more oil and gas), you will have no choice but to work overseas like the Indonesians, Filipinos, and Banglas are doing now. Thus, to avoid such a fate, the Malays must kick out UMNO NOW, by voting ABU; if not now, they will have to kick out UMNO later when there is no more food on the table. Another five years of UMNO/BN rule will bankrupt the nation for sure, by then it will be too late.

At the rate Najib is piling up the national debts, Malaysia is heading the way of Greece. Do you want what is happening in Greece to happen in Malaysia? Greece is cutting salaries, cutting jobs, cutting pensions, and desperately borrowing money to avoid bankruptcy and hyperinflation. Do you want that to happen in Malaysia? When that happens, our ringgit will be worth little, maybe S$1.00=RM1000.00. Hyperinflation will wipe out all your savings and reduce it to nothing For instance, if you have RM100,000 in the bank, that saving will be worth RM100 only when hyperinflation kicks in. Who are you going to blame then? It will be too late! (The world is very cruel. No money, no talk. Nobody owes you a living. Just look at Greece today, they are at the mercy of the rich. Who to blame?)

Don't let UMNO destroy the economic foundation of the nation through their corrupt-culture and twisted racial economic policies. VOTE ABU ABU ABU, to save the nation from UMNO's plundering and Mahathir's racist policies which are tearing the nation apart and destroying Malaysia's once prosperous economy (we were in the forefront of the Tiger economies). Ubah Malaysia now, by voting ABU for a better future. Fifty-five years of UMNO/BN rule is enough, they have already proven their INCOMPETENCE and their CORRUPTION, why do you want more of these? Are you blind or stupid to continue to vote for those who plunder the nation's wealth and destroy the economy?

Malaysia cannot lose more of our talents to overseas countries. We needs the Chinese to drive the economy. Tungku Abdul Rahman realised this, but Mahathir deemed him as supporting the Chinese and condemned Tungku. Mahathir thought he could do better with only the Malays and Bahasa Malaysia. What a disaster he caused to the nation and that is why Malaysia is suffering today and moving towards bankruptcy. Our Education system is in a mess, and more than two millions of the best Chinese have already left, never to return, We must not lose any more of our talents overseas, both for economic reasons as well as for raising our education standards (without English, Malaysia will be left further behind in all fields of endeavour). We must overhaul and improve our education system. We must treasure all our top students and talents. All Malaysian talents are precious and must be retained to prosper Malaysia.

Vote ABU and sent Mahathir to jail for plundering Malaysia and destroying the economy through instituting a culture of corruption, not only in the monetary sense but also the institutional sense, for he built a corrupting culture of dishonesty, bribery and grotesque economic inefficiency through racial discriminatory policies and practices. Because of his twisted, discordant public policies and foul political practices, a culture of greed and corruption is now deeply implanted and embedded in UMNO, and spreading rapidly like a wild fire to all segments of society and the civil service, including PDRM, AG, EC, MACC, Judiciary, Parliament (all of which are critical institutions of the nation), religious institutions, all ministries from agriculture, sport, tourism to finance, education, and defence. Mahathir's decadent racial public policies and practices are now defended and perpetuated by BTN which is a degenerate, wicked institution that he set up under the Prime Minister Department to disseminate his twisted ideas to poison the minds of the civil servants, and through them, the population at large. Today, BTN is still spewing his poisons in our midst, to the eventual destruction of the nation.

Seeing other ASEAN nations prosper and shoot ahead of Malaysia is indeed painful, especially when we have so much natural resources and talents to help us grow and to be in the forefront of economic development. Yet Malaysia is heavily in debt and with an annual budget deficit, while the tiny red-dot not only has no national debts but a huge national reserve AND an annual budget surplus (they don't even have oil and yet have budget surplus and huge national currency reserves). What a shameful difference for us to be in! Don't you think it should be the other way around, that we should have a budget surplus with huge national currency reserves by now, since we have not only oil and gas but also timber, rubber, palm oil, minerals, land, and a lot more talents because of our bigger population? Unfortunately, our talent was not treasured but was chased away through racist public policies.

Under Mahathir and the other PMs, in spite of the Malays being given all the best possible help and favour in education, business, and financial assistance for over four decades, the Malays have failed as Malaysia has been left far behind other countries economically. What industries have the Malays set up that can compete globally? None. (Petronas cannot be counted as oil and gas are always in demand and are never short of buyers--meaning, don't have to compete; besides, Petronas does not have Service/Retail Stations in other countries). All the GLCs are largely local in nature and survive only through monopoly. (Proton is an excellent example of this failure; MAS is another, so are PERNAS, BERNAS, SYABAS, INDAH-WATER, AIR PORTS, SEA PORTS, HIGHWAYS, PUSPAKOM, TELEKOM, etc). Many of the GLCs suffered huge losses and had to be bailed out with rakyat's money. How many hundreds of billions have been wasted through MAS, Renong, Proton, MISC, Pewaja, MSC, Movie Village, Putrajaya, Cyberjaya, F1 circuit, KLCC, KLIA, LRT, MRT, KL Rapid buses, PKFZ, NFC, and many others? How many billions more in scholarships have also been wasted because the Malay scholars did not make the grade, did not return to serve Malaysia, or could not perform TO WORLD CLASS STANDARD on the job? (How could they perform when they could not even speak and write proper English?) There are of course the exceptions, but by and large, where are the world class industries, world class products, and world class executives? Can they compete with the Asian Tiger economies?

Just look at our politicians, both in UMNO and BN--they are the nation's leaders, but of what caliber are they? Most of them are more clowns than intellectuals (Najib, Nazri, Mukhriz, Muhyiddin, Chua So Lek, Koh Tsu Koon, Ng Yen Yen, Rais Yatim, Liow Tiong Lai, Pananivel, Anifah, Zahid, Shafie, Hishamuddin, Khairy, Nor Yakcop, Noh Omar, Shahrizat, etc--none of them of world class standard). Look at the comments on the internet, people are poking fun and laughing at them because they are not only devoid of foresight, planning ability, integrity, decency, and a sense of fairness to all, but are also corrupt, incompetent, and talking nonsense (e.g. "rising crime is a perception"; "English language is not important", "Scorpene commission is not corruption"; "I help you, you help me deals are OK", and of course, the most famous one "locking up a journalist under ISA for her own protection"). Are these the calibre of leaders you want? UMNO/BN leaders are only interested in making a quick buck and vamoose, leaving the rakyat to carry the hardship they left behind. They are constantly thinking up new schemes or ways to ENRICH themselves and their cronies AT THE EXPENSE of the rakyat--e.g: highway tolls, Puspakom, Indah-Water, Syabas, Traffic-cameras outsourcing saman ekor, plan to ban old car parts, plan on inspection for old cars, Ports, Air Ports, computers for schools, textbooks, telecommunication, transport, newspapers, TV stations, radio stations, hospital medicines, rice, sugar, IPPs, car parks, office cleaning, National Service (food catering, uniforms, and other supplies), procurements, licenses, all sorts of contract jobs, etc. They are monopolising all these for their own profits instead of the rakyat's benefits. They have wasted five decades of precious time which could have prospered Malaysia by now if not for the abuses at the expense of the rakyat, especially in view of our vast natural resources and talents.

Four decades of NEP has also proven the Malays do not have the wherewithal to establish world class industries, businesses and products to compete globally. As a result, Malaysia has fallen behind other nations in economic development and is fast sinking into bankruptcy (once the oil and gas are depleted). As such, Malaysia has NO OTHER ALTERNATIVE TO PROSPERITY but to use the Chinese to drive the economy if it REALLY wants to prosper. If communist China can remove the restraints of communism to allow free enterprise, why can't Malaysia do the same--by removing racism and treat all Malaysians equally, without racial discriminatory practices? Free enterprise can only flourish WITHOUT racial discrimination. The sooner UMNO and all Malays realise this fact, the faster Malaysia will prosper. To further put down the Chinese with racist policies will lead to bankruptcy for Malaysia when our oil and gas run out. Mahathir's desire and aim of using only the Malays to drive the economy HAS FAILED and will continue to fail. This is predictable and is apparent to anyone with foresight. In saying this, I am not being racist but am being realistic. Let us be realistic, Malays do NOT have the wherewithal and are NOT able to compete in the global economy against the likes of the Western developed nations and the AGGRESSIVE, HARD WORKING and HIGHLY COMPETITIVE East Asians--namely the Chinese, Koreans and Japanese (soon the Vietnamese too, who are now removing the restraints of communism to allow free enterprise). Those who disagree and think that Malaysia can prosper without the Chinese, let me ask you three simple questions:

1) The way UMNO has run the country, isn't Malaysia a bankrupt nation by now if not for our oil and gas?
2) Can the Malays alone make it in the global arena to bring prosperity to Malaysia?
3) Can the Chinese Malaysians compete against the West and the Tiger economies to bring prosperity to Malaysia?

The answers are obvious--i) without oil and gas, Malaysia is bankrupt already (a FAILED nation); ii) the Malays alone cannot bring prosperity to Malaysia; and iii) we need the Chinese to compete against the West and the Tiger economies of East Asia. What all this means are: 1) Malaysia is living on borrowed time, until our oil and gas run out and bankruptcy is certain; 2) UMNO's (or Mahathir's) policies are misleading the Malays and nation on prosperity; and 3) UMNO's racial discrimination against the Chinese Malaysians is leading the nation to bankruptcy--this is like killing the goose that lays the golden eggs. In other words, the policies of UMNO's leaders in general and Mahathir in particular, are leading the nation to poverty and eventual failure (once our oil and gas run out). Thus, UMNO is leading us in the wrong direction, towards economic failure and eventual national bankruptcy.

While the little red-dot is piling up their national currency reserves which are estimated to be US$250 to US$350 billions, maybe more, (i.e. RM775 to RM1085 billions), UMNO is piling up our national debts, now over RM502 billions and still growing. While the little red-dot is enjoying the highest per capital income IN THE WORLD (using a lot of our talents, by the way), UMNO is leading us to national bankruptcy and abject poverty. While the little red-dot's Sovereign Wealth Funds' investments are bringing in tens of billions of dollars every year (actually, this is like their ever lasting "oil wells" even though they don't have oil), UMNO on the other hand is not only leaking billions of our oil wealth through corruption but also losing billions of our oil wealth in interests-payments annually to service our huge national debts. Therefore, if Malaysia really wants to prosper, we the rakyat of all races have no choice but to unite and kick out UMNO in GE13 by voting ABU. UMNO must be kicked out to stop their abuses of power and to prevent further corruption in order for Malaysia to prosper. This is our last chance to avoid national bankruptcy and to turn things around.

Time is short and precious, Malaysia can still make it if UMNO is kicked out in GE13 and the racial discrimination stopped BEFORE our oil and gas run out. Hence, vote wisely, vote ABU. Malaysia CAN BE a land of milk and honey if we kick out UMNO's plundering and mismanagement of the nation's wealth, talents, and resources. UMNO's leaders are nothing but thieves---they lie, cheat and steal from the nation by dividing the nation with their racist policies, and using the media (newspapers, TVs, and radios) to spread their propaganda of deceits and outright lies, as well as to blackout all their misdeeds and abuses of power. If they continue to rule after GE13, they will bankrupt Malaysia for sure. Do you want that?

SUMMARY OF FACTS:

FACT 1: If not for the oil and gas, Malaysia would be a bankrupt nation today.
FACT 2: Malays alone cannot bring prosperity to Malaysia.
FACT 3: Losing more Chinese talents to overseas countries will ultimately lead to poverty and bankruptcy of Malaysia.
Because of the above three indisputable facts, Mahathir's racist policies of putting down Chinese Malaysians IN FAVOUR OF THE MALAYS will ruin the nation's economic competitiveness and ultimately lead to a failed nation, as all economic indicators are already pointing. (Malaysia has slipped far behind the Asian Tiger economies). UMNO's policies have failed and will lead to bankruptcy of Malaysia. This is predictable--because of 1) the nation's non-renewable resources being depleted; 2) the national debts keep piling up as we have budget deficits; 3) more talents migrate overseas (Mahathir once said, "90% of the taxes comes from the Chinese", and it is those who belong to this group who are leaving Malaysia); 4) less taxes are available for collection when talents leave; 5) less local investments because of capital flight; 6) less job creation when talents leave; 7) less products to export overseas; 8) growing population means more demands on social services; 9) more security expenditure to counter rising crime because of unemployment; 10) increasing government operating cost; 11) less money or no money available to expand infrastructure, education, and economic development; 12) corruption become more widespread, adding to all the woes above; 13) reduced foreign investment; and 14) poverty breeds poverty. Hence, if Mahathir's and UMNO's policies continue after GE13, NATIONAL BANKRUPTCY is inevitable.


UMNOputras have swept the wealth of our natural resources from the rakyat to the cronies' pockets and have caused the frustrated talents to migrate overseas. They have created only a veneer of prosperity in the form of modern highways, buildings, airport, etc. but WITHOUT a solid backbone of world class industries, world class businesses, and world class executives that are able to compete internationally and to export their products to capture world market. (Look at Proton, it is really pitiful). Most of UMNO created businesses will crumple once monopoly or government support is removed. Without oil and gas, Malaysia today is dead. UMNO can spend today because they have the oil money, but the nation will cry tomorrow when the oil is gone and the economy in ruin. UMNO is not fit to lead the nation to a better tomorrow because their policies have failed and will continue to fail. With Malaysia falling further and further behind other economies, UMNO is leading Malaysia towards poverty with their irresponsible and profligate spending, just like what Greece was doing before their present financial crisis.


Therefore, wake up, Malays, and all Malaysians as well--unless we unite to kick out UMNO, Malaysia is heading for bankruptcy when oil and gas run out. Vote to CHANGE MALAYSIA NOW OR MALAYSIA WILL GO BANKRUPT WITH HYPERINFLATION AND NO JOBS as the economy weaken further and finally fail totally. The choice is in your hands--to change or not to change. The future of Malaysia depends upon your choice.

Let us Malaysians of all races work together, tapping on each other's strength to build a prosperous and united nation by first kicking out the DEVIL - UMNO/BN. Pakatan has shown in both Penang and Selangor that they can do it. In these two states, they have turned budget deficits into BUDGET SURPLUSES. I agree with Anwar Ibrahim that Malaysia can quickly recover from the abuses that UMNO has inflicted upon the nation (just like how Turkey has recovered). Vote ABU, we must. We must let Pakatan get to Putrajaya BEFORE our oil and gas run out -- it will be too late to do it AFTER the oil and gas run out. Another five years of UMNO's irresponsible policies, endemic corruption, and profligate spending, we are finished--it will be too late. Therefore, this coming GE, all must vote ABU to save Malaysia (yourself and your family, actually) from poverty and national bankruptcy. We are all in this together, it's NOW OR NEVER--we must KICK OUT UMNO FROM FURTHER ABUSES. Enough is enough, stop the abuses and bring back prosperity to the nation.
(Send this to everyone in your email list. Let us stand together and vote out the Devil.)
Saturday, 06 April 2013 19:16 posted by Bebas Melayu Bebas
Kalau sayang UMNO, pilihlah PR!
UMNO BARU di bawah pimpinan Tun Mahathir sudah begitu rosak. Ianya kini hanya diperalatkan oleh barisan Elit yang begitu korup demi kepentingan diri. Rakyat dibelakangkan. Melayu diperbodohkan.
Namun, masih ada antara mereka dalam UMNO yang ingin kembali ke pangkal jalan. Mengembalikan kemuliaan perjuangan demi rakyat dan bukannya untuk mencuri dari rakyat untuk memperkayakan diri.  Ahmad Husni antara mereka yang masih berjiwa tulin, murni dan jujur. Syukurlah DSAI memutuskan tidak ke Tambun.
Sering disebut UMNO perlu reformasi dan transformasi dari dalaman. Tetapi kuasa membutakan semua. Golongan yang tamak haloba tidak akan berganjak. Mereka memburu kuasa. Dimananya ada kuasa, disitulah mereka berkampung. Tak erti keinsafan. Tak erti malu. Entahlah UMNO dapat dipulangkan ke pangkal jalan jika kelompok ini tidak dihalau. Tetapi hakikatnya, sukar kerana mereka ini tidak akan mudah melepaskan kuasa yang dilihat boleh memperkayakan mereka. Kalau Mahathir boleh, kenapa tidak bagi mereka? Ini harus giliran mereka. Nak lepaskan begitu sahaja? Mana boleh? Segala cubaan reformasi dan transformasi pasti dikuburkan golongan Elit ini, tak kira apa yang perlu digadai atau dikorbankan.
Hanya satu cara bagi membasmikan penyakit ini, yakni, hilangkan kuasa UMNO BARU. Hilangkan tarikan Nafsu mereka dan mereka akan membelakangkan parti sebab tiada lagi munafaat yang diketagihkan itu.
Yang tinggal kini cumalah mereka yang tulin dan benar benar sayangkan parti dan rakyat. Mereka inilah harapan baru UMNO. Nama mereka, antaranya, Husni dan Saifuddin. Biar pembaharuan bermula agar UMNO kembali ke pangkal jalan dan hidup selama-lamanya!
Hilangkan Kuasa UMNO! Hilangkan Penyakit UMNO! Selamatkan UMNO!
Saturday, 06 April 2013 20:08 posted by Ini kali lah UMNO akan kalah teruk !!!
In law any thing found underground belong to the Country..
Now !!! Who own PETRONAS ???? and,, What,, we Rakyat Malaysian get ? NOTHING !!! BUT !!!!!! >>>>>>>>>>>>
The EVIL DEVIL FAKE MELAYU INDIAN IN UMNO CAN OWN PETRONAS AND MAKES THE MALAYS IN THE UMNO STUPID BY SHOUTING AND SCREAMING !!!! HIDUP MELAYU AND HIDUP MUSLIM LAST, LAST MELAYU KENA SOLD. AND HE, THE DEVIL GOT AWAY WITH US44 BILLIONS.. = CONVERT TO RM 132 ILLIONS.
DO YOU KNOW HOW MUCH IS 1BILLION ???
IF YOU SPENT RM1000 A DAY YOU NEED 2740 YEARS TO FINISH 1BILLIONS.
Why the Umno Malays DARE NOT TALK ABOUT THIS PETRONAS ISSUE, !!! because they are the corrupted willing victims .... Ini kali lah UMNO akan kalah teruk !!!