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
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.
The 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
Over the weekend, various groups have been expressing support for Elizabeth Wong after her painful ordeal. This is one such message from the Perak Women for Women group:
To our dearest sister and friend, Elizabeth
Our reason for writing is for several reasons.
First and foremost to say thank you. Thank you for being YOU. Thank you for having the courage to follow your purpose. Thank you for making us proud of our gifts of womanhood. We all know about the painful ordeal you are going through. We deeply feel the pain and agony you are feeling. The fact that you’ve been through all that and have not let it get in your way is such an inspiration to all of us! Bravo to you!
Updates from Rakyat@work at the Federal Court:
1118: Judgment of the review of RPK’s applications has been reserved and will be delivered at a future date. RPK is free – for now.
1052: The first step is won; the court has agreed to hear the review of RPK’s applications. At the moment, the court is hearing the appeal to have Augustine Paul recused.
Here’s something that could be a drawcard for visitors to Penang. Few Malaysians are aware that the man who gave Indonesia its name lies buried in Malaysia – in Penang to be specific.
James Richardson Logan, the man who coined the name ‘Indonesia’ in the 19th century, lies buried in the Protestant cemetery in Penang – Photos by Anil Netto
The Logan Memorial
I did not realise it myself until Indonesia’s blogger of the year 2007, Andreas Harsono, alerted me to it.
Logan was born in Berwickshire, Scotland, in 1819 and studied law in Edinburgh. Arriving in Malaya when he was just 20, he was later viewed by segments of the non-European local communities as a champion of their rights. He was editor of the Penang Gazette and the 27-volume Journal of the Indian Archipelago and Eastern Asia, which were also called Logan’s Journals. The Logan Memorial (pic above) describes him as “an erudite and skillful lawyer, an eminent scientific ethnologist and he has founded a literature for these settlements…” He died of malaria in 1869 – a passing the Memorial describes as a “public calamity”.
The following is an excerpt from The Idea of Indonesia, Cambridge University Press 9780521876483 – The Idea of Indonesia – A History – by R. E. Elson:
Harnessing collective energy: Drummers rock the auditorium during the USM Kungfu Club’s annual performance yesterday
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:
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.
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?
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.