To All Malaysia's Prophets Of Doom: Here's From The Godfather ( IMF) Of The Global Economy

Hantu Laut

I am not going to say much about 1MDB in relation to the overall performance of the economy, but as long as it stays afloat the Malaysian economy will not be seriously affected. 

The fundamentals are still good.  

PM Najib should not be too happy, the political situation will not change until there is some semblance of radical transformation of good governance.

Below is a review of the 2014 Malaysian economy by IMF.

THE HUMBUG

Hantu Laut


There are many mercenary writers like this guy who indulged in idiotic spin. He may sound smart to many below average IQ Malaysians, but sorry to say, I am not buying. 

He pathetically compared 'apples and oranges' with complete disregard of proper technical analysis.

It's not rocket science to conclude that Mr Ng is nothing but a humbug.

Let's get down to the nitty-gritty of his pat and contrived comparison. I wouldn't bore you with the prolixity of a lengthy debate but get to finishing line as quickly as possible.

First and foremost, Norway is a much bigger producer of crude oil on much smaller population.

At its peak Norway produced 3.2 million bbl/per day, but now production has petered to about 2.0 million bbl/per day on a population of 5 million people. It is also the world's 3rd largest exporter of natural gas.

Simple arithmetic will tell you the amount of massive surpluses in oil revenue going into government coffers, hence, the massive sovereign funds and multiplier effect of more oil surpluses and dividends from sovereign funds. Norway needs not tap into the funds as yet and until such time it has exhausted its oil wells.

Malaysia, on the other hand, currently produce around 670,000 bbl/per day and export only about 270,000 bbl/per day and import another 160,500 bbl/per day of crude to supplement its domestic consumption. Of its natural gas production of 61.73 billion cu m, only 33.1 cu.m were exported. Latest census shows that Malaysia's population is now almost 30 million and has bigger land mass.

It's again not rocket science to tell you that Malaysia is not exactly net exporter of oil and to think that there are plenty of leftovers is wishful thinking and sheer foolishness.

Major portion of the recurring national budget and the huge unproductive subsidies are financed by profits from oil revenues.

Again, it is people like Mr Ng who benefitted from these subsidies.

By the way, non-oil producing Singapore is one notch higher than Norway in per capita income.

So, Mr Humbug Ng, if you can't tell the difference between the skin of an apple and that of an orange, .......please, don't ever try to sell something you have absolutely no clue about.

Times They Are A Changin: Change Or Sink Like A Stone

Hantu Laut

Read Outsyed The Box "PM Confirms Malaysia Will Go Bankrupt Under Him !!"

As they say "The road to hell is paved with good intentions" 

Good intention is meaningless unless followed through.

I am not a trained economist, a bloody accountant, or a wiz-kid of some kind, but my business sense, which I hardly use nowadays had grown sharper over the years for not being overused.

I am not against the GST as I do believe it is high time such effective tax mechanism be introduced in this country to compensate for the leakages through cheating and tax manipulation. However, such exercise would be futile and of no use if the government continued with its extravagant and corrupt ways. 

Show me a wise government that foolishly spent RM7.2 billion in consulting fees, has 1.4 million civil servants, almost half doing next to nothing and spending over 80% of its recurring budget for operating expenditure leaving less than 20% for development expenditure. 

No where in the world you can find such caring government.....where there is 1 civil servant for every 20 people.

In the 2014 Budget of RM264.2 billion, a sum of RM217.7 goes to operating expenditure and RM46 billion for development expenditure, a meagre sum by comparison. Malaysians have been had, we give our money to people who had no money sense.

This government is spending beyond its means, good money chasing bad money, indiscriminate and unconscionable spending that's going to bankrupt the country.

Najib's 1MDB is full of big talking men in dark suits that's going to screw the country big time   They proudly say that many of their bonds are not backed by government guarantees, but these bunch of shitheads forget that 1MDB is wholly owned by the Malaysian government and if 1MDB goes down the Malaysian government goes down with it and Malaysia's credit rating goes down the sewer and no one would want to touch Malaysia with a ten-foot pole.

Selangor (The Richest) versus Sabah (The Poorest)

Hantu Laut

How do you reconcile this erroneous labelling of Selangor the richest state and Sabah as the poorest state in Malaysia?

I say it's erroneous because of the state budgets, which make no sense at all. The poorest state (Sabah) has a budget two and a half times bigger than the richest state (Selangor).

Selangor, mind you, joyously claimed the biggest budget ever at a measly sum of RM1.8 billion, while Sabah, the pauper state has a budget of RM 4.6 billion.

So, who you think is a caring government, the one who dares to spend more for the people, or the one who hoards the people's money ?

How come a state with the highest per capita income in the country has such poor budget.

Now, you know why Azmin Ali covets the MB post, they have a miser running the state.

Najib Cut Fuel Subsidy Now,Better Late Than Never.

Hantu Laut

In spite of the oppositions pouring scorn on Prime Minister Najib's capability of running the country he did make significant transformation in some key areas crucial to the economic well-being of the country.

The World Bank Report below shows that Malaysia is among the economies that improved the most across three or more doing business areas

So, Najib did nor rest on his laurels as perceived and deplored by the opposition Pakatan Rakyat leaders.

For starter, the introduction of the GST is a welcome sign that Malaysia is moving forward.

The next big thing Najib should do to is trim the budget deficit by removing fuel subsidy completely. It is the most wasteful and unproductive subsidy that have eroded the nation's coffers. The subsidy have led to smuggling of our resources to neighbouring countries, where fuel costs are higher and sold at market price. 

Najib should not wait too long to remove the subsidy, he must do it  soonish, preferably before the end of 2014, on the premise that "time is a good healer" hence if the premise is true, then the conclusion must be true. Time heals the grieving heart, people tend to forget the bad times as time goes by.

The government spent almost RM24 billion a year on this wasteful and unproductive spending, which most Malaysians are unaware of and failed to appreciate. 

Just imagine how much developments beneficial to the people, or reduction of our fiscal deficit can come from this money, instead, of turning it into wasteful and toxic carbon monoxide.

He can do wonders with the saving.

Read the World Bank Report here.

Ease of Doing Business in

Malaysia

This page summarizes Doing Business 2014 data for Malaysia. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

ECONOMY OVERVIEW

• EXCEL
• PRINT

REGION	East Asia & Pacific
INCOME CATEGORY	Upper middle income
POPULATION	29,239,927
GNI PER CAPITA (US$)	9,800
CITY COVERED	Kuala Lumpur

DOING BUSINESS 2014 RANK	DOING BUSINESS 2013 RANK***	CHANGE IN RANK
6	8	2

DOING BUSINESS 2014 DTF** (% POINTS)	DOING BUSINESS 2013 DTF** (% POINTS)	IMPROVEMENT IN DTF** (% POINTS)
81.87	80.06	1.81

• Rankings
• Distance to Frontier

• TOPICS	DB 2014 Rank	DB 2013 Rank	Change in Rank
  Starting a Business	16	19	3
  Dealing with Construction Permits	43	99	56
  Getting Electricity	21	28	7
  Registering Property	35	33	-2
  Getting Credit	1	1	No change
  Protecting Investors	4	4	No change
  Paying Taxes	36	15	-21
  Trading Across Borders	5	5	No change
  Enforcing Contracts	30	29	-1
  Resolving Insolvency	42	42	No change

=Doing Business reform making it easier to do business. =Doing Business reform making it more difficult to do business.Click here to see all reforms made by Malaysia.

DOING BUSINESS RESOURCES

Economy Profile

Download economy profile for Malaysia

1508.5KB pdf file

 Get all Data

See historical data sets and trends

 Law Library

Search for business laws and regulations in Malaysia

 Contributors

See who contributed to Doing Business 2014

ADDITIONAL TOPIC

• » Employing Workers

ADDITIONAL DATA

• » Distance to frontier
• » Entrepreneurship
• » Good practices
• » Transparency

RELATED WEBSITES

• » Enterprise Surveys
• » Women, Business & the Law

• Starting a Business16
• Dealing with Construction Permits43
• Getting Electricity21
• Registering Property35
• Getting Credit1
• Protecting Investors4
• Paying Taxes36
• Trading Across Borders5
• Enforcing Contracts30
• Resolving Insolvency42

Starting a Business

Info

•  View reform »    
• View details »
• View methodology »
• Compare all economies »

DB 2014 RANK	16	DB 2013 RANK***	19	CHANGE IN RANK	3

DB 2014 DTF** (% POINTS)	94.31	DB 2013 DTF** (% POINTS)	93.41	IMPROVEMENT IN DTF** (% POINTS)	0.90

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator	Malaysia	East Asia & Pacific	OECD
Procedures (number)	3	7	5
Time (days)	6.0	37.8	11.1
Cost (% of income per capita)	7.6	29.8	3.6
Paid-in Min. Capital (% of income per capita)	0.0	293.3	10.4

No.	Procedure	Time to Complete	Associated Costs
1	Apply to the Companies Commission of Malaysia (CCM) on the prescribed form (13A) to ensure the availability of the proposed company name	1 day	MYR 30 per name search application
2	Company Secretary prepares the company incorporation documents	3 days	MYR 1,000
3	File necessary documents with the Companies Commission of Malaysia (CCM) one-stop shop and obtain company incorporation, tax registration, registration with the Employment Provident Fund (EPF), Social Security Organization and the Inland Revenue Board, a	1-2 days	MYR 1,000 (registration fee)+ MYR 220 (stamp) + MYR 100 (post-incorporation package)

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.