Archive for the 'Economy' Category

A Sound Education System With Emphasis On STEM Teaching Of Science, Technology, English and Maths Is Our Lifeboat To The Future.(en/cn)

Opening Speech by Penang Chief Minister Lim Guan Eng In Wawasan Open University On The Nishimura Lecture Organised By The Penang Institute On 17 March 2014.

A very good afternoon I bid to all of you. It is my pleasure to welcome the esteemed Professor Kiyohiko Nishimura, former Deputy Governor of the Bank of Japan and Dean of the Faculty of Economics, University of Tokyo, to Penang. He will be delivering a very important lecture that touches on the lessons from the recent financial crises and its relevance to the future of our region.

Economic uncertainty

The significance of this lecture cannot be over-emphasised, given the looming clouds of economic uncertainties. These uncertainties come from different directions and I shall delve into three main themes.
Firstly, the tapering of quantitative easing by the Fed has commenced, though the pace of tapering may change subject to the robustness of US economic recovery. As we all know, quantitative easing has been an important factor in Asia in the last few years as it allowed extra liquidity to flow into this region. The question is, what will happen when capital leaves? Certainly, there is bound to be an impact on Malaysia.

Continue reading ‘A Sound Education System With Emphasis On STEM Teaching Of Science, Technology, English and Maths Is Our Lifeboat To The Future.(en/cn)’

The 3rd Link Of The Under Seabed Tunnel Between Gurney Drive And Bagan Ajam Would Not Only Serve As A Development Game-changer and Economic Catalyst For Economic Growth For Seberang Perai Utara(SPU) But Also Reduce Traffic Congestion In Penang Island.(en/cn)

Press Statement By Penang Chief Minister Lim Guan Eng In Kuala Lumpur On 2.3.2014.

Following the opening of the Penang 2nd Bridge or Sultan Abdul Halim Mua’dzam Shah(SAHMS) Bridge, the BN media has gone into overdrive in asking the Penang state government to abandon the proposed 3rd link of an under-seabed tunnel between Gurney Drive on the island and Bagan Ajam on the mainland. Only 2 flimsy objections were given namely that there is no need for a third link in Penang, now that there are 2 bridges reducing traffic congestion and the issue environmental concerns of building an under-seabed tunnel.

Any basic transportation studies will bear out the premise that for an island, the more links the better in terms of reducing traffic bottlenecks and traffic congestion. Further this under-seabed tunnel is financed partly and is a key element of the Traffic Impact Assessment (TIA) for the Phase 2 of the Tanjung Pinang land reclamation project by the E&O group. This 940 acre land reclamation project was approved, concluded and signed by the previous BN state government. At that time, the same BN media did not object to the land reclamation project.

Continue reading ‘The 3rd Link Of The Under Seabed Tunnel Between Gurney Drive And Bagan Ajam Would Not Only Serve As A Development Game-changer and Economic Catalyst For Economic Growth For Seberang Perai Utara(SPU) But Also Reduce Traffic Congestion In Penang Island.(en/cn)’

BN Federal Government Has Only Changed The Music But Not The Words By Freezing Highway Toll Hikes For One Year And Paying RM400 Million Compensation To Toll Concessionaires.(en/cn)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 6.2.2014.

Deputy Prime Minister Tan Sri Muhyiddin Yassin’s announcement that Cabinet would not impose any toll hikes for 2014, is an opportunistic political tactic clearly intended to please voters for BN in the Kajang by-election on 23 March 2014. BN federal government has only changed the music but not the words by freezing highway toll hikes for one year by paying RM 400 million in compensation to highway concessionaires.

Despite promising in its 2013 general election manifesto to reduce intra-city toll rates, the BN Federal government sounded out to the public that several tolls are due for a hike this year. Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar has even said that those who disagreed with the toll hikes can use “alternative”, non-tolled roads instead when there are no such alternative roads for some routes.

Continue reading ‘BN Federal Government Has Only Changed The Music But Not The Words By Freezing Highway Toll Hikes For One Year And Paying RM400 Million Compensation To Toll Concessionaires.(en/cn)’

Malaysians Who Add Up To Malaysia’s Unemployment Rate Are Not Lazy, But Lazy BN Policies That Are A Disincentive To Work With Low Pay And Low Productivity Especially For 3D Jobs That Are Difficult, Dirty And Dangerous.(e/c)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 2.2.2014.

DAP strongly disagrees with Deputy Finance Minister Datuk Ahmad Maslan who blamed “lazy Malaysians” for adding to the country’s unemployment rate by refusing to take up job opportunities causing the influx of foreign migrant workers. According to the Department of Statistics Malaysia, the unemployment rate is at 3.4 per cent as at November last year, or 484,600 of the 14.2 million of the country’s total labour force.

Referring to the jobless, Ahmad Maslan said, “They are worse than just lazy. There are around 300,000 of them, who are just sitting and doing nothing”. This attack on the jobless is not only unfair but incorrect as well. BN leaders should realise that it is not lazy Malaysians who add up to Malaysia’s unemployment rate, but lazy BN policies that are a disincentive to work with low pay and low productivity especially for 3D jobs that are Difficult, Dirty And Dangerous.

Continue reading ‘Malaysians Who Add Up To Malaysia’s Unemployment Rate Are Not Lazy, But Lazy BN Policies That Are A Disincentive To Work With Low Pay And Low Productivity Especially For 3D Jobs That Are Difficult, Dirty And Dangerous.(e/c)’

Price Hikes In Sugar, Petrol, TNB Power Tariffs And Highway Road Tolls Together With The Minimum Wage Enjoyed By All Foreign Workers Could Adversely Result In A Clear And Definite Danger Of Either Inflation Or Business Closures Of SMEs.(en/cn)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 24.1.2014.

The Federation of Malaysian Manufacturers’ (FMM) warning that an increase in tolled road charges will raise prices of raw materials, which will be passed on as higher prices consumer goods, is not surprising. FMM said that the recent increase in electricity rates and the proposed toll hikes would also dampen domestic consumption and affect export competitiveness.

FMM’s survey of their members showed that transportation providers are expected to increase their transportation fees by up to 30% when toll charges were increased, coupled with an increase in travelling claims of their staff. However the full impact of the implementation of minimum wage policy that covers foreign workers have not been factored in, especially the adverse impact on Small and Medium scale Enterprises(SMEs).

Continue reading ‘Price Hikes In Sugar, Petrol, TNB Power Tariffs And Highway Road Tolls Together With The Minimum Wage Enjoyed By All Foreign Workers Could Adversely Result In A Clear And Definite Danger Of Either Inflation Or Business Closures Of SMEs.(en/cn)’

Tan Sri Muhyiddin Yassin’s Special Cabinet Committee To Tackle the Cost of Living Changes Nothing If The BN Government Knows Only How To Increase Prices Without Increasing Salaries, Especially Minimum Wage To RM 1,100 Monthly, (With A Grace Period Of 5 Years To SMEs For Foreign Workers).

DAP 2014 Thaipusam Day Message By DAP Secretary General and MP for Bagan Lim Guan Eng In Komtar, George Town On 16.1.2014.

Deputy Prime Minister Tan Sri Muhyiddin Yassin’s Special Cabinet Committee To Tackle the Cost of Living changes nothing if the BN government knows only how to increase prices without increasing salaries, especially minimum wage to RM1,100 monthly(with a grace period of 5 years to Small and Medium Enterprises(SMEs) for foreign workers). Muhyidin used a lot of fancy academic terms without addressing the two main issues of concern to 28 million ordinary Malaysians – Is BN going to reduce prices or increasing salaries?

What is the use of the BN government spending money to create a special laboratory for two weeks beginning today to study measures to ease the burden of the people when they can not even understand the price rises is not about the price of “kangkung’ alone. Is the BN government going to appoint expert consultants again, where RM7.2 billion have been spent since 2008? Failure to address reducing prices or increasing salaries will render this Special Committee a toothless tiger, a mere talk-shop with full of meaningless flowery words without action to lessen the financial burden of the rakyat.

Continue reading ‘Tan Sri Muhyiddin Yassin’s Special Cabinet Committee To Tackle the Cost of Living Changes Nothing If The BN Government Knows Only How To Increase Prices Without Increasing Salaries, Especially Minimum Wage To RM 1,100 Monthly, (With A Grace Period Of 5 Years To SMEs For Foreign Workers).’

The Acquittal Of Chang Kong Choy From Cheating Former Prime Minister Tun Abdullah Ahmad Badawi On The RM12.85 Billion Port Klang Free Trade Zone Scandal Is A Sad Fact That No Senior Leader Is Responsible And Punished For Such Collosal Losses Of Public Funds.(en/bm/cn)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 13.1.2014.

The acquittal of Transport Minister Datuk Seri Chang Kong Choy from 3 charges of cheating former Prime Minister Tun Abdullah Ahmad Badawi on the RM12.85 Billion Port Klang Free Trade Zone scandal is a sad fact that no senior leader is responsible and punished for such collosal losses of public funds. Chan was charged on February 28, 2011 with cheating Abdullah over the RM1.9 billion trans-shipment project between 2004 and 2006. He faced up to five years’ jail on each count.

Chan’s predecessor as Transport Minister, Tun Dr Ling Liong Sik, had being acquitted on October 25 last year on charges of cheating the Cabinet on the same scandal In acquitting Dr Ling, High Court judge Datuk Ahmadi Asnawi ruled that the former minister could not be held accountable for any mistake, misleading information, or inaccuracy in the preparation of the ministry’s documents regarding the land acquisition, although Ling signed the documents.”If any, the blame should be apportioned wholly and squarely upon the officers of the Transport Ministry who drafted and prepared the documents,” the judge said.

Continue reading ‘The Acquittal Of Chang Kong Choy From Cheating Former Prime Minister Tun Abdullah Ahmad Badawi On The RM12.85 Billion Port Klang Free Trade Zone Scandal Is A Sad Fact That No Senior Leader Is Responsible And Punished For Such Collosal Losses Of Public Funds.(en/bm/cn)’

IKEA’s First Store Outside KL Is One Critical Catalyst To Complete The Makeover Of Batu Kawan As A Green One-stop Center(e/c)

Press Statement By Penang Chief Minister Lim Guan Eng In Komtar, George Town On 11.1.2014.

IKEA’s First Store Outside Kuala Lumpur Is One Critical Catalyst To Complete The Makeover Of Batu Kawan As A Green One-stop Center For Advanced Manufacturing, Services and Logistics Hub; An Education Center Of Excellence, A Premier Residential Location As Well As A Commercial And Retail Center.

IKEA’s first store outside Kuala Lumpur is one critical catalyst to complete the makeover of Batu Kawan as a green one-stop center for advanced manufacturing, services and logistics hub; an education center of excellence, a premier residential location as well as a commercial and retail center. IKEA has a strong reputation of advocating environmentally-friendly practices.

The sale of 245 acres of land by Penang Development Corporation(PDC) for RM 284 million to Aspen Vision Land Sdn Bhd and Ikano Pte Ltd, that is fully paid in 5 years, where
Continue reading ‘IKEA’s First Store Outside KL Is One Critical Catalyst To Complete The Makeover Of Batu Kawan As A Green One-stop Center(e/c)’

IKEA’s Entry Into Batu Kawan Is A Vote Of Confidence For Penang And A Boost To Making Seberang Perai As The Future Choice For Investments, Tourism & Habitat For Sustainable Living(en/bm/cn)

PRESS CONFERENCE BY YAB TUAN LIM GUAN ENG ON FRIDAY 10 JANUARY AT 10.30AM, LEVEL 28, KOMTAR

The State Government and PDC’s strategic plans for Batu Kawan will receive an additional boost with the sale of 245 acres of land for the purpose of development of an integrated shopping mall, anchored by an IKEA store to be developed by Ikano Pte Ltd, and mixed development of offices and residences to be developed jointly by Aspen-Ikano (a joint venture company to be formed by Aspen Vision Land Sdn Bhd and Ikano Pte Ltd).

At the press conference, Chief Minister Lim Guan Eng, in welcoming this new investment by Aspen and Ikano, said the 245 acres development in Batu Kawan will include:
• 30 acres for the development of IKEA Store and phase 1 of the Shopping Mall
• 45 acres for the development of phase 2 of the Shopping Mall; and
• 170 acres for mixed development purposes (Remaining Parcels)

Continue reading ‘IKEA’s Entry Into Batu Kawan Is A Vote Of Confidence For Penang And A Boost To Making Seberang Perai As The Future Choice For Investments, Tourism & Habitat For Sustainable Living(en/bm/cn)’

The 1957 Merdeka Federal Constitution And 1963 Malaysian Federation Constitution Are The Model For 28 Million Malaysians To Unite Together To Fight Corruption, Ensure Economic Prosperity For All And Win The Future For Our Children.(en/bm/cn)

2014 DAP New Year Message By DAP Secretary-General Lim Guan Eng In Kuala Lumpur On 1.1.2014.

DAP wishes to salute the real heroes of Malaysia, the millions of ordinary Malaysians who voted for change in the last general elections, especially the 51% who supported PR ,and dealt BN their first defeat in terms of popular vote in Malaysian history. By daring to vote for change or UBAH, the majority of Malaysians showed not just fortitude but also foresight that only a change of government can improve their standard of living, bring about stronger communities and sustainable development.

The foresight by the 51% of voters to reject BN has been borne out by the serial price hikes by BN in sugar, petrol, power tariffs and highway tolls after retaining power. Even some of the 47% who supported BN in the last general elections have begun to regret their choice and now shares the same desire for UBAH with the majority 51%.

Continue reading ‘The 1957 Merdeka Federal Constitution And 1963 Malaysian Federation Constitution Are The Model For 28 Million Malaysians To Unite Together To Fight Corruption, Ensure Economic Prosperity For All And Win The Future For Our Children.(en/bm/cn)’

Corruption and Crime, Minimum Wage Policy, Hikes In Petrol Price, Power Tariffs And Highway Tolls Will Not Only Lead to Inflation But Also Negatively Impact Salary Increment And Bonuses For 14.2 Million Malaysian Workers In 2014.(en/cn)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 30.12.2013.

The 6 factors of corruption and crime, minimum wage policy, hikes in petrol price, power tariffs and highway tolls are will not only lead to inflation but also negatively impact salary increment and bonuses for 14.2 million Malaysian workers in 2014. The Department of Statistics has indicated a softening of the Malaysian economy with seasonally adjusted unemployment rate for October 2013 increasing to 3.5% from 3.1% in September 2013.

With ensuing inflation from price hikes, the smaller salary increments and bonuses will only make livelihood of ordinary Malaysians worse off. According to the Malaysian Employers Federation (MEF) survey with 257 companies involving more than 13,000 employees, executives can expect a 5.63% average increase in salaries and 5.65% for non-executives in 2014. The average salary increase for non-executives last year was at 6.78 %, slightly higher than that of the executives at 6.31%.

Continue reading ‘Corruption and Crime, Minimum Wage Policy, Hikes In Petrol Price, Power Tariffs And Highway Tolls Will Not Only Lead to Inflation But Also Negatively Impact Salary Increment And Bonuses For 14.2 Million Malaysian Workers In 2014.(en/cn)’

BN Should Not Lie That Highway Contracts Cannot Be Renegotiated To Stop Toll Rates Hike (en/bm/cn)

Press Statement By DAP Secretary-General Lim Guan Eng In Kuala Lumpur On 18.12.2013.

BN Should Not Lie That Highway Contracts Cannot Be Renegotiated To Stop Toll Rates Hike For Companies That Had Recouped Their Investment Or Construction Cost When BN Has Successfully Renegotiated Such Contracts In 2010 To Forestall Toll Increases In Preparation Of The 2013 General Elections.

Following the electricity tariff hike announced on 2nd December 2013, Malaysians will be slammed with a major hike in toll charges involving 13 highways in 2014. BN justifies the increase in toll charges by arrogantly asking Malaysians to use alternative shoddy toll-free roads instead of admitting to selling out the interests of ordinary Malaysians and small businesses to satisfy the insatiable greed of their cronies.

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BN Irresponsibly Creating Hatred Amongst Races And Religions To Avoid Answering Their Failures To Curb Corruption, Rising Prices And Cost Of Living, Waste And Inefficiency, Growing Indebtedness Of The Country And Rakyat, Declining Educational Standards And Deteriorating Public Infrastructure.(en/bm/cn)

Opening Speech By DAP Secretary-General Lim Guan Eng In The Selangor DAP State Ordinary Convention On 15.12.2013.

BN is behaving irresponsibly by creating hatred amongst races and religions to avoid answering their failures to curb corruption, rising prices and cost of living, waste and inefficiency, growing indebtedness of the country and rakyat, declining educational standards and deteriorating public infrastructure. BN’s hypocrisy and double-standards is not just about talking 1Malaysia to non-Malays and 1Melayu to Malays and talking of national reconciliation and yet illogically blame the Chinese tsunami for causing BN to win only 47% of the popular vote against PR’s 51% when the Chinese only form 25% of the population.

Continue reading ‘BN Irresponsibly Creating Hatred Amongst Races And Religions To Avoid Answering Their Failures To Curb Corruption, Rising Prices And Cost Of Living, Waste And Inefficiency, Growing Indebtedness Of The Country And Rakyat, Declining Educational Standards And Deteriorating Public Infrastructure.(en/bm/cn)’

Malaysia Justified As World Champion Of Corruption With USD 370.38 Billion (RM1.2 Trillion) Of Dirty Money Or Illicit Outflow Of Funds Between 2002-2011 From Crime, Corruption And Tax Evasion(en/bm/cn)

Press Statement By DAP Secretary-General Lim Guan Eng In Kuala Lumpur On 12.12.2013.

Malaysia Justified As World Champion Of Corruption With USD 370.38 Billion (RM1.2 Trillion) Of Dirty Money Or Illicit Outflow Of Funds Between 2002-2011 From Crime, Corruption And Tax Evasion.

Malaysia’s exceptional performance as the world champion of corruption is justified with of RM173.84 billion (US$54.18 billion) of illicit funds outflow or dirty money siphoned out of Malaysia in 2011, ranked fourth worst in the world. For 2011, Malaysia is behind giants Russia (US$191.14 billion), China (US$151.35 billion) and India (US$84.93 billion).

According to Washington-based financial watchdog Global Financial Integrity (GFI) Report, despite a smaller population Malaysia has a higher illicit funds outflow than many larger populated countries in the world from 2002-11 of USD 370.38 billion.

Continue reading ‘Malaysia Justified As World Champion Of Corruption With USD 370.38 Billion (RM1.2 Trillion) Of Dirty Money Or Illicit Outflow Of Funds Between 2002-2011 From Crime, Corruption And Tax Evasion(en/bm/cn)’

Penang State Government To Get Public Feedback On A Proposed Levy Of 3% On The Transacted Price Of Property In Penang By Foreigners In 2014.(en/cn)

Press Statement By Pennag Chief Minister Lim Guan Eng In Komtar, George Town On 28.10.2013.

The Penang state government welcomes the 2014 Federal Budget’s proposal of limiting the purchases of property by foreigners to RM1 million and above to cool down property speculation so that houses remain affordable for middle-income earners. This RM1 million limit announced by Prime Minister Datuk Seri Najib Tun Razak on purchases of properties by foreigners is nothing new to Penang as Penang had implemented this ruling much earlier in 1 July 2012.

Foreigners are only allowed to purchase properties above RM 1 million whereas for landed property on Penang island the limit is RM2 million and above. The Penang state government is proposing additional steps to curb any foreign speculation of property by imposing a levy of 3% on the transacted price of property in Penang by foreigners beginning 2014. Penang State EXCO for housing Jagdeep Singh will hold public consultations by engaging with the stakeholders from REHDA Penang to the Housebuyers Association.

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