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sega

Frightening indeed.
What is going to happen to the common people
like me who has no money to transfer abroad.
Die-lah

bystander

anil, when news that WD was closing their plant in Kuching, you blogged about with alot of hue and cry. The plant still stands now with a change in ownership. WD has also increased their presence in PJ, they acquired the additional lots nearby…slowing down instead their operations in Thailand. I’m not an employee nor fan of WD. Heck I don’t even use their hard drives. But if you raise issues selectively with a somewhat sensationalist tone to draw attention to these “corporate atrocities”… I do suggest following up with any new developments as well…positive or negative…cos that would mean… Read more »

francis ngu

Your discussion did not take into account the outflow of wealth per Sarawak timber logs, traded at full international prices only when they are out of Malaysian waters. Soon we will qualify as the sick man in ASEAN, as FDI flows to our neighbours. The Garuda is about to take off like China in 1979. While we have a severe international image problems, our brother Yohdiyono stood steady next to Brazil’s Lula and just 1 place from Obama at front row at G20. Take note of our ASEAN giant from whom we can learn more than a lesson on how… Read more »

peter teoh

The fundamental issue is where is future growth going to come from ? Our manufacturing is unable to compete with China, India or Vietnam, and is slowly hollowing out. Our service sector seems to benefit foreign workers ( rather than locals ) as they form the bulk of staff, and repatriate most of their savings. Similarly, the plantation industry mainly employs foreigners as has reached a saturation point due to lack of land. Construction industry ,particularly residential and commercial, is another dead end, as we have overbuilt over the last decade or more. R & D sector like biotech and… Read more »

nkkhoo

I’m really sick to see restaurants and hawkers filled with foreign workers.

My own action is to boycott those outlets and only patronize outlets staffed by local people.

nkkhoo

Anil, I suggest you enable threaded (nested) comments for people to reply directly to commentators.

That is much easy for us to follow many discussions in the comments.

Under settings > discussion > Other comment settings > Enable threaded (nested) comments

nkkhoo

Yes, the comments are more organized now.

karma

Firstly,Businessmen see the country quite a risky place to invest now. The killing of the most wanted terrorist in Indonesia recently could create some ripples in this region. There could be repercussions in many other ways by others connected to this man. We see almost zero investment in South Thailand, South of the Philipines and of course in countries like Afghanistan and Pakistan. Secondly, businessmen do not favour the racial and religious issues affecting the country. Politicians are stirring this to stay in power. Businessmen,however,look at this as a liability. They prefer safer heavens, at least where they can operate… Read more »

Salak

We’ve bought many barrels of San Miguel. Would that account much for the roll-off?

No signs of ME petro-dollars coming in. Maybe we should have some small fire-house sales. Lelong something so the China guys would roll along in. They’re the only ones who have any dough. Or hasn’t Najib’s trip made any (impact) yet?

Hopefully we won’t bite rusty bullets.

So what’s on for the October budget?

I’ll bet a kilo of buah pala we’ll have some kind of lelong!

looes74

People,
Well, I have been shouting all the time. IT’S ECONOMY, STUPID! Economy bad! Business bad! People no jobs! No food on the table! People don’t spend! Voila, One damned vicious cycle.
How do we get out of problems when FDI keep following out? Containing outflow FDI. Prim Pumping policy just like what most government would do.
What shall we do?

nkkhoo

Anil, I think you to rewrite this paragraph in your article.

“Last year, approved foreign investment slumped to $3.0 billion in the first half of 2009, compared with $13.3 billion for the whole of 2008, according to the Malaysia Industrial Development Authority.”

nkkhoo

Where the money goes? Probably go to Swiss Banks.

Captaindr

What about all the money being sent back by each foreign worker ? we have to only blame our own people, nowadays foreigners do the cashier job at supermarkets and the bigger dapartmental stores,,even in top restaurants you see foreigners working as waitors , I wonder why can’t Malaysians do this work instead of complaining about the government and making a nuisance of themselves ?

Valerie

It will be most interesting to see the outcome on the capstone project by Harvard on ‘Najibnomics’

Khobu

We have the best brains in the Finance Ministry

FenceSitter

Najibnomics? Sickening.

LBJ

I overhead a conversation of someone who worked for one of the 5 big Al Longs. Seemed the Alongs are also taking money out and investing them in businesses in China. So, even the Ah Longs are doing it.

Maybe we all should be doing it before it is too late.

John Wong

Ms Monique: You should not make sweeping and mischievous statements like “Chinese taking their money out” and “Politicians Taking their money out”. All sorts of people are taking their money out and you are making trouble for ALL Chinese and ALL politicians when you do not take care and think before you write.

Monique Abdukkah

Politicians taking their money out
Chinese taking their money out
Multinationals taking their money out

Why?

The unstable political environment
The constant Chinese and Indian bashing rhetoric
Too many public holidays (as most foreign investors I spoke to had complained)

Singapore is laughing, so is China.