Building bridges to create a socially just economy

Anil Netto
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Harnessing collective energy: Drummers rock the auditorium during the USM Kungfu Club’s annual performance yesterday

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Global economy in free fall Source: IMF.org

The global economy is in terrible shape and it is obvious that our export-oriented economy will not be spared a mauling.

As Malaysians, we should be rallying together and cooperating to protect the local economy while all around us the system of global capitalism, neoliberalism and financial liberalisation is brought to its knees.

We need to find new ways of building a more sustainable, resilient and socially just domestic economy, which also protects the environment and respects indigenous cultures and livelihoods.

But the official criteria used to determine whether a listed company is ‘bumiputera controlled’ will make it difficult for meaningful business cooperation and partnerships to emerge. According to the Foreign Investment Committee’s 27 Feb 2007 guidelines, to be regarded as bumiputera-controlled, a listed company has to satisfy all the following criteria:
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RPK not landing up in Kamunting on Monday

Anil Netto
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In a surprising development, RPK announces that he will not be landing up in Kamunting on Monday. This might mean that he could still be free to campaign in the by-elections in April – a prospect Najib will not relish:
… lo and behold, my lawyers just called to say that my appeal against the three-member Federal Court’s decision to reject my four applications is going to be reviewed by another quorum of judges. I suppose that would mean the Federal Court will not be able to send me back to Kamunting on Monday after all — at least not until after the judicial review, and only if the second quorum of judges upholds the Federal Court’s decision. If the judicial review is of the opinion that the Federal Court had erred, or was indeed biased, then back to the drawing board we go. I will then be able to get a second bite of the cherry.
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Water concessionaires reject S’gor govt’s offer

Anil Netto
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With the federal National Water Services Commission (Span) intervening and with the Malaysian Anti-Corruption Commission targeting Selangor MB Khalid Ibrahim, is it any surprise then that the private water concessionaires have rejected the Selangor government’s offer for the takeover of water assets? The interventions of these two federal-level commissions came just before the expiry of the Selangor government’s 20 Feb deadline for the offer to be accepted by the water concessionaires. Abbas and Splash have now turned down the offer.  Puncak Niaga too. From the point of view of these concessionaires, why accept the Selangor government’s offer when they know that its position has been weakened by the actions of federal bodies – and when they know there could be a more attractive offer elsewhere?
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IPP team leader brandishes gun at talks with Sabah TNB

Anil Netto
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Big money is at stake in negotiations between national electricy corporation TNB and private electricity producers (IPPs). The stakes can get really high. Check out what happened in Sabah during negotiations between TNB subsidiary Sabah Electricity Sdn Bhd (SESB) and an IPP said to be Sabah-based. This report from the NST:
Present were 14 people, including TNB officers, representatives from the IPP and the TNB subsidiary, as well as lawyers and an official from the Energy, Water and Communications Ministry. The discussion was to thrash out a deal for TNB to purchase power from the IPP, which has a 100MW capacity.
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Sarawak timber firms blamed for mass fish deaths

Anil Netto
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Dead fish floating in a river Photos by Brimas

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Fish being sold in a market in Miri

Once again, another wave of mysterious fish deaths in Sarawak – around Bakun, Mukah, Kapit, Marudi and in the Baram River near Miri. The worst hit is reportedly the Balui River around the jinxed Bakun Dam. In Baram, the affected fish species include ikan baung, ikan burih, ikan tapah and ikan padi as well as various types of prawn. Sarawak NGO Brimas observed that “most of the fish seemed weak, tired and have difficulty breathing. As a result, the fish surfaced for air but after some time suffocated to death. Also, the fish appeared blind.” Brimas found that the gills of the fishes were not clogged with mud or blocked by silt.  No mud was found within the stomach or intestines of the dead fish, but the insides seemed watery.  The river was described as “brownish, muddy and polluted with silt due to logging, oil palm plantations and industrial development activities.”
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Crucial day

Anil Netto
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Today is the crucial last day for the four private water concessionaires to respond to the Selangor government’s Letter of Offer to take over the water assets in the state in its bid to avert a 37 per cent water tariff hike.
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Tenaga goes downhill – and it wants to take over Bakun

Anil Netto
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Tenaga has posted a loss before tax of RM0.8 billion for its first quarter ended 30 November 2008 compared to a profit before tax of RM1.6 billion for the same period in 2007.

The amazing thing is that it made a forex translation loss of RM1.4 billion in the first quarter.  That’s right, RM1.4 billion in one quarter.

And now it wants to take over the jinxed and problem-plagued Bakun Dam from Sarawak Hidro. Good luck, Tenaga – you will need it.

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Span throws spanner into S’gor govt water takeover bid

Anil Netto
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Just when you thought the Selangor government was taking a commendably tough position in its negotiations to take over water assets from four private concessionaires ahead of a water tariff hike from April… Now we hear that the federal National Water Services Commission (Span) is trying to bypass the Selangor government in negotiating directly with the four concessionaires. Why? The Selangor government had given the concessionaires until 20 February to accept its Letter of Offer. But before that deadline can expire, Span has potong jalan. Selangor Mentri Besar Khalid Ibrahim said in a statement today:
Instead of supporting the State Government’s initiative to buy back these water concessions in the interest of the rakyat with our fair and reasonable offer, (Span CEO) Dato’ Teo (Yen Hua) appears now to be pandering towards the interest of private concessionaires. We urge that he declares his interest on the matter. If any irregularity is found, we call for his resignation.
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“I am starting a canopy rental business”

Anil Netto
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Canopy rental in Kuala Terengganu: RM6 million

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Scores of police vehicles were on standby during the Kuala Terengganu by-election campaign

Here’s the bill for the deployment of 3,376 police personnel during the Kuala Terengganu by-election (as reported by Bernama with my comments in brackets):

  • Travelling and living allowance – RM2,700,000
  • Foodstuff and accommodation – RM4,500,000
  • Dried food and beverages – RM65,000 (Dried food? Do they mean snacks?)
  • Communication and utilities – RM50,000
  • Canopy rental – RM6,000,000 (Sounds like a good business, no? Some of these canopies even had airconditioning.)
  • Fuel and spare sparts – RM698,000 (Does this include helicopter fuel?)
  • Raw material and others – RM310,000 (Raw materials? Huh? What raw materials?)
  • Maintenance and minor repairs – RM830,000 (Doesn’t sound ‘minor’ to me! Helicopter maintenance included?)
  • Total expenditure incurred by rakyat – RM15,153,000
Blog reader Ganesh from KL is thinking of quitting his job:
This figure is utterly shocking in an environment of economic downturn. Is this how the BN-led government conserves money during an economic downturn? If the police alone can spend RM15 million on such a small election, what was the final bill for all government agencies during the whole by-election?
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More deforestation as timber export target doubled?

Anil Netto
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Najib has launched a new National Timber Policy, which hopes to double timber exports to RM53 billion by 2020. In line with this, the government has just given out RM30.3 million in loan instalments to eight companies under the Forest Plantation Development Programme. These include companies such as Shin Yang, which is one of the largest natural timber concessionaires in Sarawak with over a million hectares. Interesting concept, this: public money lent to timber companies at low interest rates, no doubt.
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Zambry and his exco suspended – now what?

Anil Netto
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Perak Speaker V Sivakumar springs a major surprise Photo by Amiruddin Is it a stalemate now? Or checkmate… Perak state assembly speaker V Sivakumar has reportedly suspended Zamby (18 months) and his six exco members (12 months) from the state assembly. How can the state government function if the exco is barred from attending  state assembly proceedings?
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Privatisation failure spurs S’gor govt to take over water

Anil Netto
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Selangor is in the midst of crucial negotiations to take over the water assets of four concessionaires operating in the state. The negotiations are critical as Selangor residents are staring at a steep water tariff hike by the end of March if the present situation persists. Private water distribution company, Syabas, 70 per cent owned by Puncak Niaga, had last year asked for a tariff hike by January 2009. In December, the Water Minister Shaziman Abu Mansor said that according to the concession agreement, water tariffs in Selangor and Kuala Lumpur would be hiked by up to 37 per cent in January 2009. This tariff hike was delayed to 31 March 2009 to allow time for the Selangor government to take over the water assets from the four concessionaires. Under the lop-sided concession agreement, water tariffs are expected to be hiked as follows:
  • Up to 37% in 2009
  • 25% in 2015
  • 10% in 2019
  • 5% in 2021
  • 5% in 2024
  • 5% in 2027
  • 5% in 2030
Source:  Background Note to Public Briefing by the Water Review Panel, Selangor State Government
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Puncak Niaga spent RM11m on directors in 2007

Anil Netto
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UPDATED 2.30PM: Let’s take a quick look at Puncak Niaga, one of the main water concessionaires in Selangor.

You can see that the firm is making huge profits. (Profits for 2006 were higher as there was a gain arising from the partial disposal of a subsidiary of RM206m in 2006.)

The group had close to a billion ringgit in deposits, cash, and bank balances as at 31 December 2007 and a net current asset ratio of 1.2. In other words, very liquid.

Syabas, which is 70 per cent owned by Puncak Niaga, received a government grant of RM250 million (that’s our money) “solely for the purpose of financing the costs and expenditure of the non-revenue water” to reduce unaccountable water loss.

The federal government also provided a support loan (current carrying amount close to RM80 million) to finance construction of the Wangsa Maju water treatment plant. It was originally repayable over 20 years (from 1999) at 8 per cent interest rate. But in 2004, the federal government “restructured” the loan: the interest rate was reduced to 3 per cent per annum retrospectively and the repayment schedule revised. How thoughtful.

Having made super profits with the help of public money, Puncak Niaga is now asking for a higher price than what the Selangor government is prepared to pay (RM1.6 billion for Puncak Niaga and RM1.5 billion for Syabas) to nationalise water assets in the state.

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Large crowd in Klang for ceramah on Perak crisis

Anil Netto
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0044: Revised estimate of crowd size is 3,500-4,000, according to organisers, who say there were 2,500 inside the hall and the rest outside – difficult to estimate accurately as lots of people going in and out during the ceramah. A couple of you, however, are saying the turnout was just 1,000. 2220: The crowd has now swelled to 6,000, according to organisers. 2100: Some 3,000 people have turned up at the Dewan Hamzah, MPK in Klang tonight for a Pakatan ceramah on the crisis in Perak. Among the speakers are Khalid Samad and Charles Santiago.
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Public briefing: Selangor’s takeover of water

Anil Netto
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Here’s your chance to make your voice heard. The Selangor state government is holding a public briefing on the status of its takeover of the water sector in line with its ‘merakyatkan ekonomi Selangor‘ policy aim of realising a ‘welfare state’. It’s the first time a public briefing on the status of the water sector “restructuring process” is being held. Wed, 18 February, 11.00am Auditorium Dewan Jubli, Bangunan SSAAS, Shah Alam. Members of the Water Review Panel of the Selangor state government will brief the public. Among the speakers are economists Subramaniam Pillay and Charles Santiago.
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Images from the RPK ISA trial

Anil Netto
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Photos by a citizen reporter providing us with live coverage

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Supporters wait anxiously outside court

Puncak, Gamuda fall as S’gor bids to nationalise water

Anil Netto
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2009feb-puncak-480x448 2009feb-gamuda-480x448 The Selangor government is attempting to take over the water assets from the concessionaires in the state, namely Puncak Niaga, Splash, and Syabas. The state government wants to nationalise the inefficient water sector – and prevent a 30 per cent tariff hike from April. The concessionaires, on the other hand, are asking for a much higher price, based on discounted cash flow (of future profits) and future tariff hikes assuming the concession is allowed to continue.
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LIVE: Application to recuse Augustine Paul rejected

Anil Netto
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RPK supporters waiting anxiously outside the court room. Photo by Rakyat@work

Rape of the Tanjung Bunga hill-slopes

Anil Netto
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Scary development – Google Earth picture sent in by a Tanjung Bunga resident

While our media are all hot and bothered about some photos of a female politician circulating around, the rape of our hill-slopes continues.

Mind you, this picture was taken in 2005 – nearly four years ago. Since then, things have got a lot worse.

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Why Tg Bunga residents are protesting…

Anil Netto
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A cover-up job?

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One of the projects on the steep hill-slopes of Tanjung Bunga Photos by a Tanjung Bunga resident

Just to recap, some one hundred residents of Tanjung Bunga protested at development projects on steep hill-slopes by banging pots and pans on Valentine’s Day. Many of the residents there are living in fear, especially during thunderstorms.

Before anyone else asks why these residents didn’t protest earlier, they did.

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