The Edge’s tabulation yesterday was slightly different from Mahathir’s earlier tabulation. But no matter which list, plenty of questions are raised.
Malaysia’s foreign exchange reserves slide over last three years
source: tradingeconomics.com
The speculation is that the reserves are being used to defend the ringgit, which has been slipping, one of the sharpest losses in Asia, over concern arising from the drop in oil prices among other factors. The outlook for the ringgit also depends on the future direction of the US dollar and US interest rates.
RM per US$1 exchange rate for over the last year.
Selling an illusion in the face of a property bubble
It is laughable what some desperate agents resort to when confronted with a real estate bubble. But the gimmick reveals what players in the industry are adept at doing: creating an illusion or ‘image’, a sense of exclusivity to sell otherwise hard-to-sell real estate.
That sinking feeling … Najib’s position looks increasingly untenable
Limbo low now, how low can we go – before things get better? (By the way, where is Jho Low now?) Everywhere you go, you hear gloom about the state of the economy – and this public sentiment is not without basis.
The following graphs speak volumes about the state of affairs of the country:
Malaysia’s external debt stood at a staggering RM745bn in the fourth quarter of 2014. And that would exclude contingent liabilities and off-budget/off-balance sheet items. This is the graph for the last five years:
Source: tradingeconomics.com
City of Dreams nightmare for Seri Tanjung Pinang residents
This statement by a group of Seri Tanjung Pinang residents hammers home the point as to why land and property development-for-infrastructure swap deals are a bad idea.
Such deals compromise the development regulatory process by presenting the land reclamation or property developments projects as done deals – because they are needed to finance the infrastructure projects.
Oscar Romero’s beatification on Pentecost eve: A signal shift towards Church of the Poor
The beatification of the slain Archbishop of San Salvador, Oscar Romero, on the birthday of the church marks a watershed for the church under Francis’ stewardship.
At the start of his ministry as Bishop of Rome, Francis had expressed the desire to see the church transformed into the Church of the Poor. And on Pentecost this year, the Spirit, it would appear, is propelling the church in exactly that direction.
Now Gurney Drive residents pay the price of congestion
It is the turn of the Gurney Drive residents to feel the pressure of high-density development in the absence of a gazetted Local Plan and the apparent flouting of density limits stipulated in the Penang Island Structure Plan.
At least four major projects are in the pipeline:
- a large project near the Gurney Drive roundabout
- a 20-storey block addition to Sunrise Tower
- a 41-storey hotel at the site of Corner Club.
- the Setia V Residences: a 43-storey tower and a 48-storey tower.
Muhyiddin: 1MDB – The straw that could break the camel’s back
1MDB is proving more to be more than an ordinary hot potato for Najib; in fact, as Muhyiddin put it, it could prove to be the straw that finally breaks the camel’s back (BN rule).
Helped by Mahathir, critics in Pakatan, Sarawak Report, bloggers and social media, the 1MDB debt issue is grinding away at the approval ratings of the PM.
Handling Inquests: A workshop for watching brief lawyers
This workshop will be held on Saturday in Penang.
If you are a practising lawyer, you may register using the online form found here.
Remember Enron and its auditors Anderson?
Now might be a useful time to recall what happened to high-riding Enron and its auditors Anderson. It goes to show that we cannot always trust the auditors, even if they happen to be big reputable ones.
After all, who pays their fees? The client. So are the external auditors really independent? You tell me.