Monthly Archive for October, 2008

CM to promote Penang in South Korea

Published on October 28, 2008, 2:55 pm in Economy and Penang. 0 Comments

Penang Chief Minister, Lim Guan Eng is leading a strong 52 member delegation on a trade and investment promotion mission to Seoul, South Korea from October 28 to November 1, 2008. The delegation will participate in the Asia Pacific Tourism Investment Conference and EXPO (APTIC) where the Penang Pavilion will be set up to showcase Penang’s value propositions.

The objective of Penang’s participation in APTIC is to promote Penang as an ideal home for MM2H participants from Korea. Private sector companies in Penang that are participating in the Penang Pavilion include the Eastern & Oriental Berhad, SP Setia Berhad, Hunza Properties Berhad, Ideal Property Intelligence Sdn Bhd and the Penang Health Association. The Chief Minister is scheduled to present a paper entitled “ Sustainable Tourism Development in a Heritage Environment- the Penang Story” on October 30, at the APTIC. Continue reading ‘CM to promote Penang in South Korea’

Why did govt give only RM 36 tax cuts per year to working Malaysian but is willing to put RM 5b of EPF to bailout listed companies?

Published on October 25, 2008, 3:15 pm in Economy. 0 Comments

Why did the government give only a RM 364.2 million tax cuts to 10 million working Malaysians or a mere RM 36 per year but is willing to put workers funds at risk by using RM5 billion of Employees Provident Fund (EPF) to bailout selected listed companies?

The drop in the Kuala Lumpur Composite Index (KLCI) to 859 points, its lowest close in four years, is a clear indication of the failure of the BN government economic response to the global financial crisis by injecting RM 5 billion into Valuecap Sdn Bhd, a company set up by the Government in 2003 to invest in undervalued companies. What is RM 5 billion to buy shares in a few counters compared to the Bursa Malaysia’s capitalization of around RM 700 billion? Continue reading ‘Why did govt give only RM 36 tax cuts per year to working Malaysian but is willing to put RM 5b of EPF to bailout listed companies?’

Happy Deepavali

Published on October 25, 2008, 3:07 pm in Nation Building. 0 Comments

I wish all Hindus in Malaysia a Happy Deepavali. May this joyous occasion bring us peace, happiness and prosperity.

This is the Festival of Light where we celebrate the triumph of good over evil. Unfortunately, on this special moment of joy, five of our fellow Malaysians are still detained without trial under the draconian Internal Security Act.

Together with many others, our brothers P. Uthayakumar, M. Manoharan, V. Ganabatirau, R. Kengghadharan and T. Vasanthankumar have been unjustly detained for a long time now. Continue reading ‘Happy Deepavali’