Live updates of the much-anticipated cross examination of Saiful Bukhari in the Anwar trial today.
Malaysia to raise “billions” of dollars from bonds
Some little-publicised news locally: Malaysia may sell bonds soon in its first major foreign debt offering in eight years.
These could be 10-year dollar-denominated bonds.
Live – Nomination Day for Sibu by-election
Live updates on the Sibu by-election nomination process
Penang Botanic Garden horror
Himanshu Bhatt has come up with a piece that describes the appalling “upgrading” project (mostly concrete) at the Penang Botanic Garden.
Horror at the Botanic Gardens
SINCE early this year, a scene some may well describe as one of utter horror has greeted Penangites and hundreds of visitors as they approach the island’s beloved Botanic Gardens, one of the oldest colonial-era parks in Southeast Asia. A huge swathe of land in front of the magnificent century-old raintree that looms above the gardens’ famous gates has been turned into a monstrous dusty scab, with two gigantic phallic structures built on it.
Bakun Dam cost over-run hits RM1.7b
Sime Darby is reported to have incurred an estimated cost over-run of RM1.7 billion on a Bakun Dam contract worth RM1.8 billion.
It is understood the government has agreed to reimburse Sime around RM0.7 billion, leaving the firm to absorb the remaining RM1 billion, The Star reported.
But who actually owns Sime Engineering, which reportedly was awarded the RM1.8 billion contract? The firm is a 100 per cent subsidiary of Sime Darby Bhd, according to the group’s 2009 Annual Report. Sime Darby Bhd in turn is owned by Amanah Saham Bumiputera Scheme (39 per cent), EPF (14 per cent) and PNB (13 per cent).
Why is this stretch prone to flash floods?
A concerned Penangite sent me these photos of a stretch of road in Tanjung Bunga that is prone to flash floods. No prizes for spotting the reason.
Not the most brilliant design for keeping flash floods at bay. When the rain pelts down, flash floods materialise within minutes, rising to the level of car exhaust pipes.
Nuclear energy “in 2021” – but no decision yet?
Najib gives the impression that he is open to ideas regarding alternative sources of energy including the nuclear option – so why did his Cabinet Minister say a nuclear power plant is expected to be operational in 2021?
Najib’s latest blog entry:
As we consider all sources of energy, there has also been some attention given to nuclear energy. Nuclear is arguably efficient and cost effective. The question is this: is it the right one? Before embarking on such an important decision we must conduct a comprehensive study on it. As such the Government is undertaking feasibility studies on nuclear energy use for electricity generation. I am eager to understand better and to know the findings. If we press ahead with nuclear, 12 to 15 years could elapse before energy is produced using small reactors.
Hmm, where to site that nuclear power plant?
The government has reportedly announced plans for a nuclear power plant to start operations by 2021. Now they are considering suitable sites.
If this plant is as safe as they tell us it is, will we now see the BN MPs scrambling to have the nuclear plant located in their own constituencies? Imagine what a coup it would be if an MP succeeds in getting the plant located in his or her constituency! He or she would surely be guaranteed re-election, yes or no? The voters in that state would surely be thrilled.
Maybe they might even want to consider building the plant in Putrajaya to show us how safe it is?
Speakers’ Square launched in Penang
A Speakers’ Square to promote the right to freedom of speech and assembly was launched in Penang this morning.
The square is located at the stage of the Millennium Square on the sea-front side of the Esplanade
The Speakers’ Square in Penang is the first of its kind outside a university campus in the country.
EPF share investments: An interesting question
Recently a news report revealed that fund managers were in agreement that it is unhealthy for the Employees Provident Fund (EPF) to dominate 50 per cent of the daily trading on the local stock market. This raises an interesting question.
Najib had said the EPF’s dominance in Bursa is “not healthy” for the local stock market or for the EPF. This is cited as one of the reasons for allowing the EPF to invest up to 10 per cent abroad.
The EPF’s total funds amount to RM370 billion with a quarter invested in Bursa. The total daily value of transactions on Bursa can surpass RM1 billion per day. Today, for instance, it was RM1.03 billion.
And now the interesting question: