Malaysia’s financial account shows a large net outflow of investments in both the first (far right column) and second quarters of 2009.
| Financial Account | RM million | Q2/09 | -24,198 | -29,758 | |
| Direct Investment Abroad | RM million | Q2/09 | -8,964 | 435 | |
| Direct Investment in Malaysia | RM million | Q2/09 | 863 | 2,761 | |
| Portfolio & Financial Derivatives – Net | RM million | Q2/09 | -9,933 | -12,153 | |
| Other Investment – Net | RM million | Q2/09 | -6,163 | -20,799 |
Where is all the money going? – Source: Bank Negara
The latest Unctad investment flows report shows a similar net outflow of foreign direct investment in 2008.
I stumbled across those figures while writing the following piece on the Malayisan economy for Asia Times:
Another instance of corporate destruction of the environment: this time forest clearing by an oil palm plantation firm snuffs out the twinkling lights of the fireflies dancing above the banks of the Kuala Selangor River.
Residents of Taman Golf in Ipoh have successfully appealed for the removal of a sewage treatment plant facing their homes.
A rare victory – Photo courtesy of Ipoh Echo
A three-person panel of the Perak Appeals Board, led by N H Chan, allowed their appeal and ordered the Ipoh City Council to instruct the Royal Perak Golf Club to dismantle and demolish the sewage treatment plant within a month.
Kseniya Simonova’s haunting sand animation evokes painful memories of the tremendous Ukrainian suffering and loss of life during World War II.
Ukraine is believed to have lost more people in World War II than any other European nation as a result of the brutal Nazi occupation, followed by the Soviet reoccupation.
Tanjong Bunga residents are alarmed by inconsistencies in the Penang Structure Plan for their area that could lead to more congestion and construction projects. They claim that, under the previous administration, the diagram in the Plan was unilaterally re-zoned as a high-density ‘Primary Corridor’; the Plan had earlier been displayed for public scrutiny with the diagram showing Tanjung Bunga as a ‘Secondary Corridor’.
This distinction is crucial as the permissible density for a Secondary Corridor zone is 6-15 (max) homes per acre whereas for a Primary Corridor, there is no limit, say the residents. They assert that this classification is a policy matter which the present state government could easily rectify.
The Tanjung Bunga Residents Association points out the following:
… trying to make sense of what is happening in the world around you and wondering how you can participate in issues that matter to you? Then this event is for you.
Aliran is organising a one-day interactive workshop in Penang this Saturday (26 September) for young adults (19-35 years of age) to raise awareness of their role in good governance and how they can shape the world around them. More information here.
Do we really need Porr and more highways if we have a bus rapid transit system like in Bogota?
A bus rapid transit system can carry as many passengers as a subway system, as the city of Curitiba in Brazil has shown.
I like this quote in the above video clip: “The problem is not the people who use the buses but the people who use the cars.”
Sarawak Chief Minister Taib Mahmud has delivered a special message to mark the festive season. Among his comments is a comical demand which will no doubt add to the merriment: stop criticising the government!
According to Bernama:
“If there are (sic) chaos in the country, it will be impossible for us to celebrate any festivity. We should therefore take stock of what the government has done for us,” he said in his Hari Raya message.
He also said that Malaysians were fortunate to have a prime minister “who has the qualification and a leader who cares for the people’s well-being”.
These remarks coming from a Colombo Plan Australian-trained lawyer, no less.