Published on
March 3, 2009,
12:45 pm in
Economy.
Pulau Pinang perukan projek rangsangan ekonomi sekurang-kurangnya RM 2.1 bilion daripada RM 7 bilion mencerminkan sumbangan 30% daripada ekspot Malaysia berasal daripada Pulau Pinang. Dengan sumbangan begitu besar ini, Pulau Pinang tidak boleh gagal kerana sekiranya Pulau Pinang gagal maka Malaysia juga akan gagal.
Memandangkan sumbangan besar ini maka adalah perlu jumlah peruntukan mesti lebih besar daripada hanya RM55.7juta yang diperuntukkan untuk negeri Pulau Pinang dalam pakej rangsangan ekonomi.
Continue reading ‘Pulau Pinang Perlukan Projek Rangsangan Ekonomi Sekurang-kurangnya RM 2.1 Bilion Daripada RM 7 Bilion Mencerminkan Sumbangan 30% Daripada Ekspot Malaysia Berasal Daripada Pulau Pinang.’
Published on
February 24, 2009,
4:45 pm in
Economy.
Penang’s record RM 10.2 billion in investments in 2008 and continued faith in the future potential is proven by its recent listing as one of the 31 outsourcing hubs of the future. The newly released KPMG professional service report listed as Penang as the only Malaysian city amongcst 31 other cities in the world that can challenge existing outsourcing hubs in India or China principally due to our superior human resources and talents.
Continue reading ‘Penang listed as one of the 31 outsourcing hubs by KPMG’
Published on
February 19, 2009,
4:11 pm in
Economy.
Intel is one of the many success stories in Penang where MNCs grew up in scale and standards. As one of the 7 samurai or seven pioneers MNC companies that first invested in Penang. We are proud of the tremendous success and remarkable technological contributions to the entire world. These are the companies which the Penang Government seeks to attract to Penang. The 8 effective characteristics of Companies that Penang looks lit for are based on 8S of:
1) Standards and Brandings of Products
2) Service to consumers
3) Scalability to ensure economies of scale
4) Segmentation for diverse range of products
5) Security to ensure safe usage
6) Schedule adherence
7) Sustainable to ensure resources used today are still available to be used tomorrow
Corporate Social Responsibility
Continue reading ‘Intel Remains Committed To Penang’
Published on
February 16, 2009,
1:48 pm in
Economy.
Minister of International Trade and Industry Tan Sri Muhyiddin Yassin can prove his reformist credentials by urgently restructuring the national gas subsidy and supply policy that has cost Malaysians to pay RM 62.6 billion gas subsidies to the power sector since 1997 and losses of up to RM 14 billion in foreign investments. Tan Sri Muhyiddin had admitted that 8 companies from Japan, US and Europe in energy intensive industries such as steel and manufacture of glass are holding back up to RM 8 billion investments because of lack of secure supply of gas from Petronas.
However Tan Sri Muhyiddin did not include the RM 6 billion in foreign investment lost by Penang from solar-related investors from America and Germany due to the gas shortage. Despite Tan Sri Muhyiddin correctly tracing the lack of gas supply to Petronas committing all its gas production till 2014, nothing has been done to resolve this gas shortage.
There is an urgent need to redirect supply, especially from the independent power producers (IPPs), to manufacturing and domestic use. Despite Petronas having spent RM 11.5 billion to build the Peninsular Gas Utility System (PGU System) pipeline to supply gas throughout the country, it is a terrible waste of money to install the gas pipeline if there is no gas flowing through the PGU pipeline.
Continue reading ‘Tan Sri Muhyiddin Yassin Can Prove His Reformist Credentials By Urgently Restructuring The National Gas Policy’
The State Government has approved a RM 10 million grant to assist the unemployed in Penang. The assistance will come in the form of temporary job creation and job training opportunities for retrenched workers as well as fresh school leavers and graduates.
The terms of reference (TOR) of CAT (Career Assistance & Training) Task Force are as follows:
i. Matching retrenched workers / new workers with training programs;
ii. Matching retrenched workers / new workers with job / business opportunities; and
iii. Working with members to create jobs and business opportunities.
Continue reading ‘Penang To Launch CAT Centre To Help The Unemployed’
Published on
January 16, 2009,
12:34 pm in
Economy.
DAP urges all Malaysians, especially in Kuala Terengganu, to support Pakatan Rakyat national agenda of fighting the economic recession by having good governance, reducing the petrol price to RM 1.20 per liter and a RM 50 billion economic stimulus package. The Kuala Terengganu by-election will be a good indicator to gauge the people’s support, especially from the Malays, to determine the direction of the national agenda of having CAT governance based on competency, accountability and transparency to fight corruption. And that Malaysians must empower themselves to demand a government that is people-centric, democratic and ethical based on the principles of freedom, justice, truth, social welfare, and adherence to moral precepts.
Continue reading ‘Support Pakatan Rakyat National Agenda Of Fighting The Economic Recession’
Protect Workers Rights By Cancelling The RM 5 Billion Injection Of EPF Funds Into Valuecap Following The Federal Government’s Failure To Convince EPF Members That It Will Not Be Used To Bail Out Politically-Connected Parties.
I have received many queries and expressions of concern by workers from Penang about the security of the government injecting RM 5 billion of Employees Provident Fund(EPF) into the Valuecap Sdn Bhd investment fund to buy under-valued stocks. Deputy Prime Minister Datuk Seri Najib Razak should reveal the full list of shares bought from the RM5 billion EPF injection, to assure the public that the monies will not be used to bail out politically connected companies.
Najib’s failure to do so has only strengthened public demands that the Federal Government proves its protection of workers rights by cancelling the use of RM 5 billion of EPF funds for Valuecap Sdn Bhd. So far, the public does not know whether the value of the shares bought by the RM 5 billion funds have increased.
Continue reading ‘Protect Workers Rights By Cancelling The RM 5 Billion Injection Of EPF Funds Into Valuecap’
Ketua Menteri Pulau Pinang, Y.A.B Tuan Lim Guan Eng menegaskan bahawa peruntukan pembangunan Persekutuan yang disalurkan oleh Kerajaan Persekutuan kepada Negeri Pulau Pinang seharusnya setara dengan cukai yang dibayar oleh rakyat negeri ini.
Menjawab kepada soalan lisan Lim yang juga Ahli Parlimen kawasan Bagan di Dewan Rakyat, Timbalan Menteri di Jabatan Perdana Menteri, Y.B. Dato’ Mohd Johari Bin Baharum menjelaskan bahawa peruntukan pembangunan Persekutuan yang telah disalurkan kepada Negeri Pulau Pinang dari tahun 2000 hingga tahun 2008 adalah sebanyak RM8.965 bilion.
Lim menekankan bahawa jika dibandingkan peruntukan Kerajaan Persekutuan tersebut dengan cukai yang dibayar oleh rakyat Pulau Pinang dari tahun 2001 hingga 2007 seperti yang dimaklumkan oleh Timbalan Perdana Menteri merangkap Menteri Kewangan, Datuk Seri Najib Tun Razak ketika menjawab soalan lisan Lim di Dewan Rakyat, rakyat negeri ini telah membayar cukai sebanyak RM15.619 bilion – lebih kurang dua kali ganda daripada jumlah peruntukan yang disalurkan.
Datuk Mohd Johari turut memaklumkan Lim bahawa daripada jumlah keseluruhan RM8.965 bilion, pecahan peruntukan pembangunan Persekutuan yang telah disalurkan kepada Negeri Pulau Pinang dari tahun 2000 hingga tahun 2008 secara adalah seperti berikut:
Continue reading ‘Peruntukan Pembangunan Persekutuan Di Negeri Pulau Pinang Tidak Sepadan Dengan Cukai Yang Dibayar Oleh Rakyat Pulau Pinang’
Speech By Penang Chief Minister Lim Guan Eng During The 4th Asia Economic Summit Jointly Organised By The Asia Society And Asian Strategy & Leadership Institute(ASLI) In JW Marriott Hotel, Hong Kong On 9.12.2008.
Eight Measures To Transform Penang From A Sweat Shop To A Smart Shop And Reinvent The Economy For Sustainable Growth And Prosperity.
The theme of the 4th Asia Economic Summit of “Reinventing Asian Economies for Sustainable Growth & Prosperity” is apt and timely following the global financial crisis that has threatened both the growth and prosperity of both developed country and emerging economies. There is also a need to reinvent as the conditions that made prosperity and growth possible either do not exist or are not applicable any more.
The most popular measures to counter the current recession includes an expansionary budget and government guarantees for financial institutions. However we need to look beyond the recession and be bold enough to undertake fundamental reforms and reinvent the economy to allow Asia is to continue enjoying sustainable growth and prosperity. Asia is too diverse to be presented in a singular case. So allow me to present the perspective of Penang, the problems, successes and failures of a middle income state.
Penang is a key trading post that successfully evolved into one of the largest electronics manufacturing hub in the world during the last century. Penang’s success from the 70s to the 80s made Penang the leading state in Malaysia with GDP per capita of RM 28,851, double that of Malaysia at RM 19,189 for 2008. Despite being the second smallest state in Malaysia and with a population of only 1.4 million, Penang’s exports alone amounted to 27% of Malaysia’s total exports.
There were five common characteristics of successful growth economies identified in “The Growth Report” by A. Michael Spence were:-
Continue reading ‘How Asia Can Have A Sustainable Future?’
Malaysians would consider it irresponsible and immoral for the Federal Government or any other party to earn RM 16 million a day at the people’s expense by merely manipulating petrol prices that does not reflect the plunging international price of oil which is currently at around USD 40 per barrel.
Since July 11 when a barrel of oil hit a record $147.27, oil has fallen 72% to USD 40.81 per barrel in less than five months, The expected economic recession following the global financial crisis has caused the drop in petrol prices to its lowest level in four years since December 2004. A front-page report in The Star estimated The Government is set to get windfall gains of up to RM 16 million per day based on crude oil price of US$44 per barrel and a consumption estimate of 27.5 million litres per day. This would work out to extraordinary gains of RM 6 billion a year at the expense of Malaysians. But for whose benefit?
Continue reading ‘Irresponsible And Immoral For The Federal Government Or Any Other Party To Earn RM 16 Million A Day By Manipulating Petrol Prices’
Speech of Penang Chief Minister, The Rt. Hon. Lim Guan Eng At An International Conference on “The New Economic Vision for Penang and Malaysia” December 5 & 6, 2008 (Friday & Saturday)Traders Hotel, Penang
1. When I took over the helm of the State Government on March 9, 2008, I made a pledge to the people of Penang that we will be fair, just and not discriminate against anyone. The people of Penang had created history by allowing the opposition parties to form the State Government and we have formed a government based on unity and respect for basic human rights and political equity.
2. The new State Government will not disappoint the people of Penang and we want to turn a new chapter. We were determined to do better in drawing in more investments.
Projects Approved by State, 2008 and 2007 ( Ringgit Malaysia ,RM )
Continue reading ‘The New Economic Vision for Penang and Malaysia’
Details of Seberang Perai Municipal Council’s (MPSP) shocking RM 223.7 million losses in reserve funds over nine years from 2000 to 2008 are revealed together with significant development expenditures. The public shall judge whether such expenditures benefited public interest or is just another sad example of BN’s cronyism, mismanagement and money politics. From an accumulated surplus of RM 230.1 million at 1.1.2000 to only a budgeted surplus of only RM 6.4 mllion at 31.12.2008, RM 223.7 million has been lost over 9 years.
Penang Gerakan chairman Datuk Dr Teng Hock Nan. who is also former state local government and traffic management committee chairman, claimed that the money was used for major and small local community projects to benefit the people such as: Continue reading ‘The Public Shall Judge Whether MPSP’s Expenditures Benefited Public Interest.’
Published on
November 20, 2008,
11:27 am in
Economy.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad’s revelation that the government no longer need to subsidise petrol with the drastic fall in global oil prices highlights BN’s lack of responsibility in refusing to further reduce petrol prices from RM 2 to RM 1.62 per litre.
Shahrir said that at US$65 (RM235) per barrel or at RM 2 per litre the Government would not be paying subsidies and the price can return to RM 1.92 per litre. Instead of paying subsidies, the government will save more than RM 10 billion if prices remained stable. At current prices, the government is making about 30 sen per litre.
Continue reading ‘Najib Should Allow The People To Benefit From The RM 10 Billion In Fuel Subsidy Savings’
（Photo Archieve, DAP Publicity）
The Federal Government must approve a Rm200Million interest-free loan and Rm5Million grant to preserve and promote George Town which belongs not only to Penang alone but also all Malaysians and the world. On its own the Penang state government will allocate Rm1Million state money to provide education and measures to preserve, protect and promote George Town as a World Heritage Site.
As custodians of this cosmopolitan city that is of outstanding universal value, there are two important ingredients that has ensured us our world heritage status. The first is humanity, or the human values that we celebrate in our everyday life. Multiculturalism is the basis for Penang’s success and George Town has been built on non-partisan cooperation.
Continue reading ‘The Federal Government must approve a Rm200Million interest-free loan and Rm5Million grant to preserve and promote George Town’
Published on
November 18, 2008,
1:52 pm in
Economy.
The Penang State Government is willing to work with the business community to urge the Federal government to adopt anti-recessionary measures by implementing a RM 48 billon fiscal stimulus plan, reduce wasteful spending on non-essentials and remove red-tape to increase revenue, cut down costs and improve productivity.
In this regard, I welcome the move made by our Prime Minister to defer the purchase of 12 Eurocopter helicopeters costing RM 1.6 billion so that the money can be used to assist the people affected by the economic recession following the global financial crisis. More such cuts should be made as many wage-earners and businesses are hurting. The Penang state government has already implemented cuts by cancelling the purchase of new cars, flying economy on investment missions, holding government functions in government buildings and deferring all renovation works.
Continue reading ‘Urge The Federal Government To Adopt Anti–Recessionary Measures’
