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The MPPP is calling for a ‘request for proposals’ for a plot of land at Gurney Drive.

From what I hear, this plot is somewhere near the Gurney Drive roundabout and is likely to attract bids from many large companies. I am not sure where the precise site is, but I believe it is somewhere here (see below), perhaps around five acres including nearby roads. MPPP should tell us exactly where this land is located.

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Photograph: Latheefa Koya

While the nation’s attention was focused on 1MDB’s sensational unaccountability, Petronas quietly slipped in a bombshell. It wrote off RM23.3bn in net “impairment losses” in its accounts for 2014.

The gross impairment losses written off in 2014 added up to RM25.3bn (see below) but there were also write backs credited to the accounts totalling RM2.0bn to arrive at a net figure of RM23.3bn.

petronas 4th qtr 2014 report

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From a Tanjung Bungah kiddo who used to struggle to keep up with the other boys at the Penang Swimming Club, Low Taek Jho aka Jho Low has paddled away to more enticing waters as an international wheeler and dealer. But now, he has come under intense scrutiny as 1MDB struggles to keep afloat in a sea of liquidity constraints.

Check out this pretentious video and then decide whether you would want to do business with an outfit like this.

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This was one of those rare occasions when Mahathir is talking some sense. But of course, we know this wily politician invariably has something up his sleeve.

It doesn’t need Mahathir to tell us that it is game (almost) over for the PM. Najib is in extra time now as the pressure mounts on all sides. Across the length and breadth of the nation, people are murmuring and texting and WhatsApp-ing about 1MDB, Jho Low, Najib and Rosmah, and Sirul. That’s when they are not grumbling about the rising cost of living and soaring home prices – this, even before GST is imposed.

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Folliwng a related earlier piece I wrote, an irate resident of Tanjung Bungah has lashed out against the construction of pavements, complete with railings around small greens in quiet neighbourhoods.

The resident said:

(The agency responsible for this) (JKR?) has poured concrete for “drainage purpose” around the Pelangi field and created a so called “walk-way” – and now in the midst of putting grilles all around the circumference of the field. This is a small field with single-storey terrace houses fronting the whole circumference.

One of the factors contributing to the persistent fiscal deficit in Malaysia has been the deliberate and gradual reduction of income tax rates over the years.

From a fairly progressive tax system, Malaysia has moved towards a regressive tax system. The government has trimmed the tax rates for the rich and super-rich over the years.

Singapore is now bucking the trend by raising income tax rates for high-earners by 2 per cent.

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