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?

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

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”