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Singapore sinks deeper into recession

Anil Netto
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The Singapore economy shrank 4.2 per cent in the fourth quarter of 2008 despite posting an annual growth of 1.1 per cent for last year.

For 2009, the Ministry of Trade and Industry is maintaining its forecast of minus 2-5 per cent, though others think it could be more than minus 5 per cent if the global economy worsens.

The IMF is projecting a global recovery next year – but that looks more than a little optimistic, perhaps wishful thinking.  Truth be told, no one knows for sure how long this worldwide depression will last – certainly not the so-called economists who never saw all this coming 18 months ago.  Any recovery is unlikely to be quick as the biggest consumers in the world by far are in the United States – and we all know they are in deep trouble.

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Snapshots from Bukit Gantang

Anil Netto
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bkt-gantang-taiping-sepetang-and-charcoal-kilns-022

A small white elephant in Bukit Gantang? – Photos by Jong

You have seen them dotted all over the country. Small projects which never really take off after construction. The amounts involved may be small – but they all add up. Who really benefits from all these small white elephants?

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MACC grills Perak Speaker for three hours

Anil Netto
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First, they put the pressure on Selangor MB Khalid.

Now, it’s the turn of Perak Speaker V Sivakumar to feel the heat. He was questioned by the MACC for three hours last night for alleged abuse of power probably in relation to the suspensions of BN state assembly members.

Meanwhile, Nazri informed Parliament yesterday that the ACA had opened four investigation papers into the Lingamtape affair. Three of these were sent to the Attorney General, who classified two under “no further action” while the remaining one was still awaiting further investigation. The fourth paper is still with the ACA.

In case you missed theSun report, here it is:

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Growing old with Streamyx

Anil Netto
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It’s not just the economy that has slowed down.  The local broadband service is now crawling at a snail’s pace.

For almost a week, we have been hearing complaints from many Streamyx users. Now we know why, or at least this is the official reason: cable/circuit problem with the US.

But why are local websites also slow? And why did it take TM so long to announce this? Have Singapore and other Asean countries encountered similar slowdowns?

Says blog reader syauki_x in Indonesia:

I’m writing this from Bandung, Indonesia…

I didn’t even know there was such a thing as cable/circuit problem with the US, until I read your entry…

The net connection here is just as normal as it gets…

Buck up, TM!

No one talks about the MSC anymore.  Meanwhile, we will all grow old waiting for pages to download.

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Blogger Jed Yoong investigated for sedition

Anil Netto
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First it was bloggers Raja Petra and Sheih Kickdefella investigated for sedition.

Now it’s the turn of Jed Yoong, who was hauled up and questioned. Four police personnel also arrived at her house and confiscated her laptop, its power cable, a desktop CPU, a router and a modem, according to Jed in her blog. She was told she was being investigated for sedition.

Jed argued that her blog was not particularly influential, compared to the mainstream media. “I strongly feel it is ludicrous and absurd to say that I can even influence anyone what more incite racial hatred or any sort of hatred towards anyone,” she wrote in her blog. “If anyone is hateful, they will be so without reading my blog.’

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S’gor MB probes Saudi apartments purchase in 2007

Anil Netto
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Selangor Menteri Besar Khalid Ibrahim has hit back with queries over the purchase of a dozen apartments in Saudi Arabia in 2007 by a wholly owned Selangor government subsidiary, Permodalan Negeri Selangor Berhad (PNSB).

These must be some apartments: they cost about RM2 million each.

In a press release issued by his office tonight, he put the spotlight on a puzzling set of transactions. This is an excerpt from the press statement:

According to the PNSB Directors Circular Resolution dated 14 September 2007, PNSB had approved for the purchase of five units of properties amounting to RM8,352,427.66.

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Govt approves 45 private hospitals, undermines GHs

Anil Netto
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Just when you thought the BN federal government would put a cap on the number of private hospitals, it does the reverse. It approves licences for 45 new private hospitals.

Mind you, this will worsen the brain drain from general hospitals and lengthen their waiting lists. The irony is that these licences have been approved at the onset of an economic recession, when thousands of Malaysians will think twice about being treated at private hospitals – simply because they can no longer afford them – and instead turn to general hospitals.

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Malaysia’s foreign reserves fall by US$34 billion

Anil Netto
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international-reserves

Malaysia’s foreign reserves plunge (US$ billion) Source: Bank Negara

Over the last eight months, the country’s foreign reserves have dropped by US$34 billion. They have dipped from a high of US$125.8 billion on 30 June 2008 to US$91.6 billion as at 13 February 2009.

Total gross international reserves:

2008

31 Mar               US$120.3 billion

30 June              US$125.8 billion

30 Sept              US$109.7 billion

31 Dec                US$91.3 billion

2009

13 Feb                US$91.6 billion

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Sarawak: “Don’t be fooled by crowd numbers, Anwar”

Anil Netto
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A by-election will soon be called in Sarawak after the death of the BN state assembly member for Batang Ai, Dublin Unting. In the 2006 state elections, Unting defeated a Snap candidate, Nicholas Bawin Anggat, who has since joined PKR, by an 806-vote majority.

PKR must have received a boost from the reported 4,000 crowd that turned up in Bintulu to listen to Anwar. While the crowd size may have appeared encouraging to many, a former resident of Bintulu cautions Pakatan and Anwar not to get too carried away. They still have much work to do:

I read the report that Anwar Ibrahim drew a large crowd in Bintulu. That is good. But please realise that a large turnout does not mean support for Anwar in Sarawak’s case.

All the same, I believe  many in Bintulu are not happy with the government as they have (one of) the highest assessment rates in Malaysia. I was posted there for four years (1997 – 2000).

Many people would come to town if there is an event, and so when Anwar was coming, they all came down in droves using kereta sapu. Even if there is a circus clown coming, the crowd would be the same.

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Images from the Federal Court today

Anil Netto
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rpkhearingThe Federal Court reserves judgment on RPK’s application to have Justice Augustine Paul recused from hearing the government’s appeal against RPK’s release from ISA detention – Photos by Rakyat@work

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