Archive for the 'Economy' Category

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The Federal Government should not be earning from the middle and lower income groups

Published on November 1, 2009, 11:59 am in Economy. 2 Comments

The Federal Government should not be earning from the middle and lower income groups RM 555 millions annually from the RM50 & RM 25 service tax on each credit/charge card and supplementary card perpetually.

DAP reiterates its opposition to the BN government’s 2010 Budget proposals to impose the RM 50 and RM25 service tax on each credit/charge card and supplementary card respectively. This credit card service tax proposals would earn the Federal Government RM 555 millions annually which would impact more on the middle and lower income groups.

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Bank Negara Must Take Action Against Those Responsible For Maybank’s Reckless Acquisitions

Published on September 8, 2009, 3:44 pm in Economy. 0 Comments

To Protect The Prime Minister’s Credibility For Financial Soundness And Accountability, Bank Negara Must Take Action Against Those Responsible For Maybank’s Reckless Acquisitions Of PT Bank International Indonesia(BII) And Pakistan’s MCB Bank That Caused Impairment Losses Of RM 2 Billion.

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RM 5.8 Billion Worth Of Projects Allocated For Penang Under 9MP Could Not Be Completed On Time

Published on August 30, 2009, 11:53 am in Economy and Penang. 0 Comments

Penang State Government Would Seek Information Of The Shocking Failure Rate of 76% Where RM 5.8 Billion Out Of RM 7.6 Billion Worth Of Projects Allocated For Penang Under The 9th Malaysian Plan(9MP) Could Not Be Completed On Time, A Great Loss To Penang.

Penang state government welcomes the triple assurances given by Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop that twenty-two delayed projects in Penang under the Ninth Malaysia Plan costing RM 300 million will be completed as scheduled by the end of 2010, that the Federal Government would help to promote Penang as a tourism destination and also offer just treatment to all states for development projects under the 10MP (2011-2015). Penang pledges full co-operation with the Federal government to ensure speedy and timely completion of these delayed projects.

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If Ong Tee Keat Is Committed To Cleaning Up The RM 12.5 Billion PKFTZone Scandal, Stop All Payments To KDSB Or Any Other Parties

Published on June 29, 2009, 12:51 pm in Economy and Federal government. 0 Comments

Port Klang Authority To Pay RM 660 Million To Kuala Dimensi Sdn Bhd(KDSB) By July – If Ong Tee Keat Is Committed To Cleaning Up The RM 12.5 Billion Port Klang Free Trade Zone(PKFTZ) Scandal, He Must Stop All Payments To KDSB Or Any Other Parties Until The Culprits Responsible Are Arrested And Charged In Court.

Transport Minister Datuk Seri Ong Tee Keat must clarify to the public the veracity of a report in the Edge Financial Daily on 26 Jun 2009 that the PKA is to pay a total sum this year of RM 660 million to KDSB by July 2009. If Ong is committed to cleaning up the RM 12.5 billion PKFTZ scandal, then he must immediately instruct all payments to KDSB or any other parties be stopped until the culprits responsible are arrested and charged in court. KDSB is the turnkey contractor for PKFTZ.

The Edge report had said that PKA will draw down RM 360 million from the government’s soft loan of RM 4.6 billion to pay KDSB on June 30 for the land and construction of scandal-hit PKFTZ project. Another RM 300 million will be drawn down in July as the next scheduled payment to KDSB. KDSB had received a payment of RM 510 million in 2007 and RM 660 million in 2008 from PKA and the government. With another RM 660 million this year, this makes a total of RM 1,830 million to KDSB in three years for a project that is clearly over-priced and without the prospect of ever earning enough to cover the costs incurred.

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The NEP Should Be Replaced By A Malaysian First Economic Policy

Published on May 23, 2009, 11:01 am in Economy and Human Rights. 0 Comments

The NEP Should Be Replaced By A Malaysian First Economic Policy That Guarantees Equal Economic Opportunity And Socio-Economic Justice Based On Merit And Needs.

DAP welcomes the comments made by Prime Minister Datuk Seri Najib Abdul Razak during an interview with Singapore’s Straits Times on his intention to dismantle the National Economic Policy (NEP) because ethnic quotas had damaged Malaysia’s competitiveness and ran counter to global trends. Najib had clearly come around to DAP’s contention over the past 40 years that the long-term benefits of ending the scheme would outweigh the “pain” involved.

Even though such comments had come 40 years too late, it is a case of better late than never. This clearly shows the impact and effectiveness of people’s power during the political tsunami of the 2008 general elections that can force the spring and bring about change towards democratic and good governance.

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Tidak Ada Sebabnya Lapangan Terbang Pulau Pinang Tidak Boleh membina LCCT

Published on March 12, 2009, 12:53 pm in Economy and Federal government. 1 Comment

Tidak ada sebabnya Lapangan Terbang Pulau Pinang tidak boleh membina LCCT yang dibina di Lapangan Terbang Kota Kinabalu sebanyak RM 200 juta apabila keuntungan operasi di Pulau Pinang adalah 5 kali ganda lebih besar daripada Sabah. Mengikut jawapan bertulis daripada Parlimen saya, di antara tahun 2000-2008, Lapangan Terbang Pulau Pinang mendapat keuntungan RM493.3juta berbanding RM96.1 juta yang diuntung oleh Negeri Sabah.

Sungguhpun perolehan keuntungan Malaysia Airport Bhd (MAHB) di Pulau Pinang adalah lima kali ganda lebih besar daripada Kota Kinabalu, namun tidak ada LCCT di Pulau Pinang. Sebaliknya Kota Kinabalu ada LCCT yang dibina dengan kos RM200 juta sungguhpun jumlah pendapatan hanya RM 96.1 juta. Sungguh luarbiasa yang untung RM493.3 juta diabaikan seakan-akan “membunuh burung angsa yang bertelurkan emas.” Walaupun pembinaan LCCT di Kota Kinabalu tidak dibantah maka ia harus dibina di Pulau Pinang kalau dibandingkan keuntungan yang diperolehi oleh MAHB untuk semua negeri yang dinyatakan di bawah.

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Pakej Rangsangan Ekonomi RM 60 Bilion Sebenarnya Indah Khabar Dari Rupa

Published on March 11, 2009, 5:53 pm in Economy and Federal government. 0 Comments

Pakej rangsangan ekonomi RM 60 bilion selama dua tahun 2009 dan 2010 sebenarnya indah khabar dari rupa kerana hanya RM 15 bilion adalah dalam bentuk perbelanjaan secara langsung dan tidak membantu 27 juta rakyat biasa Malaysia. Ini kerana daripada jumlah RM 60 bilion ini, hanya RM 15 bilion merupakan suntikan fizikal manakala RM 25 bilion dana jaminan, RM 10 bilion pelaburan ekuiti RM 7 bilion inisiatif pembiayaan swasta(IPS) dan RM 3 bilion insentif cukai. Macam mana dana jaminan, pelaburan ekuiti, IPS dan insentif cukai boleh membantu rakyat biasa yang kehilangan kerja, tanpa gaji dan tidak layak pun untuk bayar cukai?

Dan RM 15 bilion ini pun dipecahkan kepada dua tahun, RM 10 bilion tahun ini dan RM 5 bilion tahun depan. Hakikat perbelanjaan secara langsung sebanyak RM 10 bilion boleh dilihat dalam Rang Undang-undang dan usul pembangunan. Beberapa soalan yang ditimbulkan sekiranya ia perbelanjaan terus ialah di mana akan datangnya RM 60 bilion ini. Macam mana RM 10 bilion pelaburan ekuiti akan menfaatkan pekerja biasa. Jelas sekali RM 10 bilion ini akan berfungsi sebagai satu pakej penyelamatan syarikat-syarikat kroni tertentu sepertimana yang digunakan sebelum ini bila RM 5 bilion dana wang KWSP dipinjamkan kepada ValueCap untuk menyelamatkan beberapa syarikat kroni Bursa Malaysia tahun lepas. Apa lojiknya bila untung tidak berkongsi bersama tetapi bila rugi rakyat biasa mesti menanggungnya?

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Penang Still Seeking Approval For A LCCT, Asks Private Sector To Apply For A MRO

Published on March 11, 2009, 11:53 am in Economy and Federal government. 0 Comments

Penang welcomes the announcement made by Deputy Prime Minister and Finance Minister Datuk Seri Najib Tun Razak yesterday in Parliament of a RM 250 million expansion project for the Penang International Airport, which is a culmination of many months work by both the Federal and state government. However despite the refusal to approve a LCCT for Penang, the state government will continue to press for a new LCCT, which will be needed if Penang is to succeed in transforming itself into an international city that is a destination of choice for tourists, a location of choice for investors and habitat of choice for those who desire sustainable living.

Penang has no natural resources to fight the coming economic crisis. We have no choice but to leverage on our human resources and our geographical position as a logistics hub and international gateway for tourists, high-tech manufacturing, biotechnology, green technology and halal hub. To succeed Penang must have a functional airport with all the modern facilities and amenities. We are not only talking about basic comfort such as toilets but also about modern necessities such as free Wifi.

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Adakah begitu susah bagi Kerajaan Pusat untuk memberikan Bantuan Pemberhentian Kerja?

Published on March 7, 2009, 2:47 pm in Economy. 3 Comments

Adakah begitu susah bagi Kerajaan Pusat untuk memberikan Bantuan Pemberhentian Kerja RM 556.8 juta untuk 58,000 pekerja pada 2009 dan RM1.42 bilion kepada 148 ribu pekerja pada 2010 yang diberhentikan?

Saya menyeru agar kerajaan Pusat melaksanakan skim bantuan pemberhentian pekerja (unemployment benefit) dengan memberikan bantuan RM800 sebulan kepada setiap pekerja diberhentikan dalam Pakej Rangsangan Ekonomi Kedua. Ini akan menyebabkan perbelanjaan sebanyak RM2 bilion untuk dua tahun 2009 dan 2010 sekiranya bantuan henti kerja RM800 sebulan dijalankan.

Bantuan yang saya cadangkan adalah amat penting bagi membolehkan setiap pekerja dapat menampung kos sara hidup sehingga mereka mendapat kerja semula.

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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 March 3, 2009, 12:45 pm in Economy. 1 Comment

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.

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Penang listed as one of the 31 outsourcing hubs by KPMG

Published on February 24, 2009, 4:45 pm in Economy. 1 Comment

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.

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Intel Remains Committed To Penang

Published on February 19, 2009, 4:11 pm in Economy. 1 Comment

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
8) Corporate Social Responsibility

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Tan Sri Muhyiddin Yassin Can Prove His Reformist Credentials By Urgently Restructuring The National Gas Policy

Published on February 16, 2009, 1:48 pm in Economy. 0 Comments

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.

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Penang To Launch CAT Centre To Help The Unemployed

Published on January 22, 2009, 6:45 pm in Economy and Penang. 1 Comment

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.

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Support Pakatan Rakyat National Agenda Of Fighting The Economic Recession

Published on January 16, 2009, 12:34 pm in Economy. 1 Comment

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.

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