Source TheStar
NEW YORK: Oil prices closed at their lowest level in a year Thursday, falling below $85 a barrel even after OPEC signaled it may try to slow crude's downward spiral by cutting production.
Fearful that oil prices could fall too far and harm their petroleum-dependent economies, the Organization of Petroleum Exporting Countries said it would hold an extraordinary meeting Nov. 18 in Vienna, Austria to discuss the widening economic crisis and how it's affecting the oil market.
The 13-member cartel said it would work "to ensure that oil market fundamentals are kept in balance and market stability is maintained.''
Light, sweet crude for November Delivery fell $1.81 to settle at $86.62 a barrel on the New York Mercantile Exchange, the lowest closing price since Oct. 15, 2007.
In aftermarket trading, prices edged below $85, a key technical level that traders say could signal another plunge.
In London, November Brent crude fell $1.70 to settle at $82.66 on the ICE Futures exchange, after earlier falling to a one-year low of $80.40.
Crude has shed about $60 - or 40 percent of its value - since soaring to a record $147.27 on July 11.
The massive losses come as a global financial downturn forces people and businesses everywhere to cut back.
Libyan national oil company chief Shukri Ghanem on Thursday called on oil producing nations to cut output to "protect their interest (and) stop the loss of income.''
"However, OPEC's aim is to create a balanced market, which neither harms the producers nor the importers,'' Ghanem told The Associated Press.
OPEC controls 40 percent of the world's oil supply, but many analysts doubt it will be able to slow oil's descent just by tightening output.
OPEC's announcement that it would cut production by 520,000 barrels a day failed to halt oil's drop.
Peter Beutel, oil analyst at Cameron Hanover, New Canaan, Connecticut, said history shows that OPEC cuts can rally prices for "a week, two weeks or a month.''
"But over a longer period of time, they're incapable of stopping major moves,'' Beutel said.
"We've been down this road before, but OPEC refuses to learn this lesson.''
Given the dire U.S. economic conditions and waning energy demand, he said oil prices could be poised for another big drop.
"We have no idea at what price this economy can take. Nobody knows whether it's $100 or $60 or $40,'' Beutel said.
"My guess is that we're going to go a lot lower.''
Meanwhile, oil market traders continue to watch a fast-unfolding financial crisis.
The U.S. Federal Reserve, along with central banks in Europe and China cut interest rates Wednesday in a bid to jump-start lending.
But U.S. stocks sank in response Wednesday and continued to fall Thursday.
"Traders are expecting the world to move toward recession, with the U.S. and Europe especially a concern,'' said Gerard Rigby, an energy analyst with Fuel First Consulting in Sydney.
"Based on the short-term trend, you could see prices approaching $80 next week.''
Weighing on prices was evidence of falling demand in the U.S, where crude inventories jumped by 8.1 million barrels last week while gasoline stocks surged 7.2 million barrels, the Energy Information Administration said Wednesday in its weekly inventory report.
Both increases far exceeded expectations, reflecting both persistently weak demand and a recovery of the Gulf Coast energy complex that had been shut down by hurricanes Gustav and Ike.
"Overall demand for oil fell for a fifth straight week and year-on-year demand fell for a 24th straight week'' this year, noted trader and analyst Stephen Schork in his Schork Report.
"In fact last week demand ... fell to the lowest level since the week following the 9/11/2001 attacks.''
Demand for gasoline was also weaker, falling 5.3 percentage points over the four weeks ended Oct. 3 compared to the same period a year earlier, according to the EIA report.
In other Nymex trading, heating oil futures fell 7.59 cents to settle at $2.4186 a gallon, while gasoline futures fell less than half a penny to $2.0273 a gallon.
Natural gas for November delivery rose 8.3 cents to settle at $6.825 per 1,000 cubic feet.
Recession fear plunders Wall Street, Dow dives 678.91
Source Reuters
NEW YORK (Reuters) - Stocks plummeted for a seventh straight session on Thursday as investors bet recent moves by authorities worldwide to thaw frozen credit markets would not be enough to avert a global recession.
An avalanche of selling at the close left the Dow below 8,600 for the first time since May 2003, and down almost 40 percent from its all-time closing high hit exactly one year ago. The Nasdaq and the S&P 500 each also fell to levels not seen in more than five years.
Bank and insurance stocks got hammered again, as the previous day's coordinated global interest-rate cuts and myriad other official actions to unfreeze money markets did little to boost confidence in the financial sector. Some traders said the lifting of the ban on bets that financial stocks will drop may have contributed to the sell-off.
Credit markets remained clogged. The interbank cost of borrowing dollars for any period beyond overnight rocketed -- three-month dollar Libor hit its highest this year.
Shares of General Motors tumbled 31.1 percent to its lowest level since 1950 as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009. GM closed at $4.76.
Exxon Mobil and Chevron led the Dow lower as the price of oil dropped below $87 a barrel on concerns a global slowdown would slam demand for energy.
"We're way beyond fundamentals. This is just pure panic, that's all it is," said Chris Orndorff, managing principal and head of equity strategy at Payden & Rygel, in Los Angeles.
The Dow Jones industrial average dropped 678.91 points, or 7.33 percent, to 8,579.19, while the Standard & Poor's 500 Index plummeted 75.02 points, or 7.62 percent, to 909.92. The Nasdaq Composite Index sank 95.21 points, or 5.47 percent, to 1,645.12.
The steep declines came on the anniversary of the Dow's all-time closing high above 14,000. Thursday's steep sell-off capped the Dow and the S&P's biggest seven-day decline since the October 1987 market crash, and the Nasdaq's worst seven-day decline since December 2000.
"With no visible sign of restoration of normal credit movement, that is shaking investor confidence that the banking system at this point still has a long way to go before it gets fixed," said Frederic Dickson, senior vice president and market strategist at D.A. Davidson & Co, in Lake Oswego, Oregon.
Dickson also noted that margin calls and hedge fund liquidations may be exacerbating selling as the stock market falls.
The Dow average has lost 2,271.47 points in the last seven trading days -- the worst ever in such a period. Since its record closing high a year ago today, the Dow has tumbled 5,585.34 points -- or almost 40 percent.
Energy companies Exxon Mobil and Chevron were the top drags on the Dow, falling 11.7 percent to $68.00 and 12.5 percent to $64.00, respectively, as the price of oil fell more than $2 to settle at $86.59 a barrel in the regular NYMEX session. In post-settlement trading, U.S. front-month crude hit a 12-month low near $84 a barrel.
Morgan Stanley plunged 25.9 percent to $12.45 on concern about the status of a planned $9 billion investment by Japan's top bank, Mitsubishi UFJ Financial Group Inc. But the bank shot down speculation about the deal and some traders blamed the steep drop on short-sellers after the end of a temporary ban of shorting in financial stocks.
The market had risen early in the session, after tech bellwether IBM briefly raised hopes for the outlook for other technology companies. IBM ended the session lower, however, down 1.7 percent at $89, even after reporting solid results late on Wednesday.
Prudential Financial shares fell 23.2 percent to $33.27 after the life insurer said third-quarter profit would be cut sharply by losses on poorly performing annuity and investment products and a legal settlement charge. .
Shares of other life insurers tumbled, with the Dow Jones U.S. Life Insurance Index shedding 18.5 percent.
XL Capital was one of the worst-hit companies in the sector, plunging 53.8 percent to close at $4.01 -- the steepest percentage decliner on the New York Stock Exchange. Sandler O'Neill said that because of investment leverage, they expect the mark-to-market effect on XL's book value to be greater than on the typical insurer they follow.
The Chicago Board Options Exchange Volatility Index, Wall Street's preferred fear gauge, hit another all-time closing high -- jumping 11.11 percent to end at 63.92.
Trading was active on the New York Stock Exchange, with about 2.04 billion shares changing hands, above last year's estimated daily average of roughly 1.90 billion, while on Nasdaq, about 2.95 billion shares traded, above last year's daily average of 2.17 billion.
Declining stocks outnumbered advancing ones on the NYSE by 12 to 1 and on the Nasdaq, by about 6 to 1.
NEW YORK (Reuters) - Stocks plummeted for a seventh straight session on Thursday as investors bet recent moves by authorities worldwide to thaw frozen credit markets would not be enough to avert a global recession.
An avalanche of selling at the close left the Dow below 8,600 for the first time since May 2003, and down almost 40 percent from its all-time closing high hit exactly one year ago. The Nasdaq and the S&P 500 each also fell to levels not seen in more than five years.
Bank and insurance stocks got hammered again, as the previous day's coordinated global interest-rate cuts and myriad other official actions to unfreeze money markets did little to boost confidence in the financial sector. Some traders said the lifting of the ban on bets that financial stocks will drop may have contributed to the sell-off.
Credit markets remained clogged. The interbank cost of borrowing dollars for any period beyond overnight rocketed -- three-month dollar Libor hit its highest this year.
Shares of General Motors tumbled 31.1 percent to its lowest level since 1950 as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009. GM closed at $4.76.
Exxon Mobil and Chevron led the Dow lower as the price of oil dropped below $87 a barrel on concerns a global slowdown would slam demand for energy.
"We're way beyond fundamentals. This is just pure panic, that's all it is," said Chris Orndorff, managing principal and head of equity strategy at Payden & Rygel, in Los Angeles.
The Dow Jones industrial average dropped 678.91 points, or 7.33 percent, to 8,579.19, while the Standard & Poor's 500 Index plummeted 75.02 points, or 7.62 percent, to 909.92. The Nasdaq Composite Index sank 95.21 points, or 5.47 percent, to 1,645.12.
The steep declines came on the anniversary of the Dow's all-time closing high above 14,000. Thursday's steep sell-off capped the Dow and the S&P's biggest seven-day decline since the October 1987 market crash, and the Nasdaq's worst seven-day decline since December 2000.
"With no visible sign of restoration of normal credit movement, that is shaking investor confidence that the banking system at this point still has a long way to go before it gets fixed," said Frederic Dickson, senior vice president and market strategist at D.A. Davidson & Co, in Lake Oswego, Oregon.
Dickson also noted that margin calls and hedge fund liquidations may be exacerbating selling as the stock market falls.
The Dow average has lost 2,271.47 points in the last seven trading days -- the worst ever in such a period. Since its record closing high a year ago today, the Dow has tumbled 5,585.34 points -- or almost 40 percent.
Energy companies Exxon Mobil and Chevron were the top drags on the Dow, falling 11.7 percent to $68.00 and 12.5 percent to $64.00, respectively, as the price of oil fell more than $2 to settle at $86.59 a barrel in the regular NYMEX session. In post-settlement trading, U.S. front-month crude hit a 12-month low near $84 a barrel.
Morgan Stanley plunged 25.9 percent to $12.45 on concern about the status of a planned $9 billion investment by Japan's top bank, Mitsubishi UFJ Financial Group Inc. But the bank shot down speculation about the deal and some traders blamed the steep drop on short-sellers after the end of a temporary ban of shorting in financial stocks.
The market had risen early in the session, after tech bellwether IBM briefly raised hopes for the outlook for other technology companies. IBM ended the session lower, however, down 1.7 percent at $89, even after reporting solid results late on Wednesday.
Prudential Financial shares fell 23.2 percent to $33.27 after the life insurer said third-quarter profit would be cut sharply by losses on poorly performing annuity and investment products and a legal settlement charge. .
Shares of other life insurers tumbled, with the Dow Jones U.S. Life Insurance Index shedding 18.5 percent.
XL Capital was one of the worst-hit companies in the sector, plunging 53.8 percent to close at $4.01 -- the steepest percentage decliner on the New York Stock Exchange. Sandler O'Neill said that because of investment leverage, they expect the mark-to-market effect on XL's book value to be greater than on the typical insurer they follow.
The Chicago Board Options Exchange Volatility Index, Wall Street's preferred fear gauge, hit another all-time closing high -- jumping 11.11 percent to end at 63.92.
Trading was active on the New York Stock Exchange, with about 2.04 billion shares changing hands, above last year's estimated daily average of roughly 1.90 billion, while on Nasdaq, about 2.95 billion shares traded, above last year's daily average of 2.17 billion.
Declining stocks outnumbered advancing ones on the NYSE by 12 to 1 and on the Nasdaq, by about 6 to 1.
Release Hindraf 5, RPK and all ISA detainees by Deepavali - or leave Barisan Nasional
Source MP KitSiang
With the approach of their respective party conferences and elections, It is common nowadays to read of the fierce speeches and statements by leaders and ministers of MCA, Gerakan, MIC, SUPP and other Barisan Nasional component parties, undertaking to learn from the mistakes of the past and pledging to stop being puppets or parrots of UMNO “Big Brother” and to speak up for the basic rights and interests of the people.
All these are political “sharp practices” – as the leaders and Ministers from MCA, Gerakan, MIC, SUPP and other BN component parties are equally guilty as their Umno counterparts for the worsening multiple crisis of confidence in the past seven months because of their failure to insist on government reforms after the March 8 political tsunami.
Seven full months have passed since the March general elections – and it is not only the Prime Minister, Datuk Seri Abdullah Ahmad Badawi and UMNO which have nothing to show, the MCA, Gerakan, MIC, SUPP and other BN component parties have also nothing to show in terms of long-needed reforms.
What is worse, things have gone from bad to worse as could be seen by the worsening multiple crisis of confidence, whether political, economic, educational, institutional, anti-corruption or nation-building.
In the last seven months, nation-building suffered a major setback when Umno leaders took communalism to a new height in drumming up slogans on “ketuanan Melayu” when all Malaysians should be focusing on “ketuanan rakat Malaysia” after more than half-a-century of nation-building.
UMNO Bukit Bendera division chief Ahmad Ismail’s “Chinese are penumpang” was the last straw, furnishing another completely unacceptable example of first-generation or second-generation locally-born “bumiputras” questioning the loyalty and patriotism of sixth or seven-generation locally-born “non-bumiputras”!
It was after the March 8 “political tsunami” that human rights and Internet freedoms suffered grievous blows when the Internal Security Act again became an instrument of political oppression when it was used to detain DAP MP for Seputeh, Teresa Kok, Sin Chew senior reporter, Tan Hoon Cheng and Malaysian blogger Raja Petra Kamaruddin.
It was also during the past seven months that nothing was done to free the Hindraf Five and the other ISA detainees from the draconian detention-without-trial law.
So what is the use of promising that in future, they will speak out vigorously for the rights and interests of Malaysians when in the past seven months, the leaders and Ministers of MCA, Gerakan, MIC, SUPP and other BN component parties have been equally guilty like their UMNO counterparts in not doing anything to initiate reforms to end these nation-building excesses and human rights abuses?
For a start, are all the leaders and Ministers of MCA, Gerakan, MIC, SUPP and other BN component parties prepared to take a common stand to demand for support from the Umno leaders and Ministers in Cabinet and the Barisan Nasional Supreme Council that the Hindraf Five should be released from ISA latest by Deepavali on October 28, that RPK and all other ISA detainees must similarly be released unconditionally?
Furthermore, that unless their Umno counterparts agree to the release of Hindraf Five, RPK and all other ISA detainees, MCA, Gerakan, MIC, SUPP and all other BN component parties must decide whether it serves any purpose for them to remain in Barisan Nasional.
With the approach of their respective party conferences and elections, It is common nowadays to read of the fierce speeches and statements by leaders and ministers of MCA, Gerakan, MIC, SUPP and other Barisan Nasional component parties, undertaking to learn from the mistakes of the past and pledging to stop being puppets or parrots of UMNO “Big Brother” and to speak up for the basic rights and interests of the people.
All these are political “sharp practices” – as the leaders and Ministers from MCA, Gerakan, MIC, SUPP and other BN component parties are equally guilty as their Umno counterparts for the worsening multiple crisis of confidence in the past seven months because of their failure to insist on government reforms after the March 8 political tsunami.
Seven full months have passed since the March general elections – and it is not only the Prime Minister, Datuk Seri Abdullah Ahmad Badawi and UMNO which have nothing to show, the MCA, Gerakan, MIC, SUPP and other BN component parties have also nothing to show in terms of long-needed reforms.
What is worse, things have gone from bad to worse as could be seen by the worsening multiple crisis of confidence, whether political, economic, educational, institutional, anti-corruption or nation-building.
In the last seven months, nation-building suffered a major setback when Umno leaders took communalism to a new height in drumming up slogans on “ketuanan Melayu” when all Malaysians should be focusing on “ketuanan rakat Malaysia” after more than half-a-century of nation-building.
UMNO Bukit Bendera division chief Ahmad Ismail’s “Chinese are penumpang” was the last straw, furnishing another completely unacceptable example of first-generation or second-generation locally-born “bumiputras” questioning the loyalty and patriotism of sixth or seven-generation locally-born “non-bumiputras”!
It was after the March 8 “political tsunami” that human rights and Internet freedoms suffered grievous blows when the Internal Security Act again became an instrument of political oppression when it was used to detain DAP MP for Seputeh, Teresa Kok, Sin Chew senior reporter, Tan Hoon Cheng and Malaysian blogger Raja Petra Kamaruddin.
It was also during the past seven months that nothing was done to free the Hindraf Five and the other ISA detainees from the draconian detention-without-trial law.
So what is the use of promising that in future, they will speak out vigorously for the rights and interests of Malaysians when in the past seven months, the leaders and Ministers of MCA, Gerakan, MIC, SUPP and other BN component parties have been equally guilty like their UMNO counterparts in not doing anything to initiate reforms to end these nation-building excesses and human rights abuses?
For a start, are all the leaders and Ministers of MCA, Gerakan, MIC, SUPP and other BN component parties prepared to take a common stand to demand for support from the Umno leaders and Ministers in Cabinet and the Barisan Nasional Supreme Council that the Hindraf Five should be released from ISA latest by Deepavali on October 28, that RPK and all other ISA detainees must similarly be released unconditionally?
Furthermore, that unless their Umno counterparts agree to the release of Hindraf Five, RPK and all other ISA detainees, MCA, Gerakan, MIC, SUPP and all other BN component parties must decide whether it serves any purpose for them to remain in Barisan Nasional.
M'sia PM to announce departure
Source StraitsTimes
KUALA LUMPUR - MALAYSIAN Prime Minister Abdullah Ahmad Badawi, who is under intense pressure to quit, said he will announce by Wednesday whether he will step down in March.
Mr Abdullah had earlier suggested he may not seek re-election as leader of the ruling party, the United Malays National Organisation (Umno), in internal polls to be held in March.
The prime minister said his plan would be revealed in time for a high-level meeting on Wednesday of the Barisan Nasional (BN) coalition, which UMNO leads.
'Our colleagues in BN have already indicated that they would like to be briefed on what we are doing and what the plans are going to be,' he told reporters.
'They have said the president of Umno is naturally going to be the chairman of BN so they would like to have some information as to what is likely going to happen.' 'I will decide whether tomorrow (Tuesday) or Wednesday,' he added.
Mr Abdullah had originally planned to hand over to his deputy Najib Razak in 2010 but has been pressured into stepping aside earlier after losing support from the party's grassroots.
Umno has been in disarray since general elections in March this year that handed the opposition a third of parliamentary seats and five states, in an unprecedented blow for the coalition.
Traditionally the president of Umno - which leads a multi-racial coalition and has dominated Malaysian politics for half a century - becomes the prime minister.
Mr Abdullah has been criticised for failing to introduce promised reforms and mishandling the economy since he came to power in 2003.
He is also fending off a bid to topple the government by opposition leader Anwar Ibrahim, who says he has the support of enough defecting lawmakers to form a new administration.
KUALA LUMPUR - MALAYSIAN Prime Minister Abdullah Ahmad Badawi, who is under intense pressure to quit, said he will announce by Wednesday whether he will step down in March.
Mr Abdullah had earlier suggested he may not seek re-election as leader of the ruling party, the United Malays National Organisation (Umno), in internal polls to be held in March.
The prime minister said his plan would be revealed in time for a high-level meeting on Wednesday of the Barisan Nasional (BN) coalition, which UMNO leads.
'Our colleagues in BN have already indicated that they would like to be briefed on what we are doing and what the plans are going to be,' he told reporters.
'They have said the president of Umno is naturally going to be the chairman of BN so they would like to have some information as to what is likely going to happen.' 'I will decide whether tomorrow (Tuesday) or Wednesday,' he added.
Mr Abdullah had originally planned to hand over to his deputy Najib Razak in 2010 but has been pressured into stepping aside earlier after losing support from the party's grassroots.
Umno has been in disarray since general elections in March this year that handed the opposition a third of parliamentary seats and five states, in an unprecedented blow for the coalition.
Traditionally the president of Umno - which leads a multi-racial coalition and has dominated Malaysian politics for half a century - becomes the prime minister.
Mr Abdullah has been criticised for failing to introduce promised reforms and mishandling the economy since he came to power in 2003.
He is also fending off a bid to topple the government by opposition leader Anwar Ibrahim, who says he has the support of enough defecting lawmakers to form a new administration.
Bar: Channel funds for DNA bank to crime prevention
Source TheStar
KUALA LUMPUR: It would be better to channel funds for maintaining the proposed DNA databank under the DNA Identification Bill to crime prevention instead, said the Bar Council.
It’s vice-president K. Ragunath said it would cost a lot to maintain a DNA databank and such money would be put to better use if it beefed up the police force, allowed for more police beats, improved training facilities and upgraded the police computer system.
“The Government needs to clarify how many percentage of cases require DNA profiling and what sort of crimes may be solved through such analysis,” he said.
He said no statistics had been provided to support the need for the DNA Bill so far.
Ragunath said this at a press conference yesterday to announce a council forum entitled “The DNA Bill: Do We Need It?” to be held on Monday.
“The Bar Council also does not agree with the current draft of the Bill because we cannot accept that DNA samples can be used as conclusive evidence in court,” he said.
“This means that the accused will not be able to object or challenge the authenticity of the samples by presenting other forms of evidence,” Ragunath added.
Asked whether the council’s stand had anything to do with the recent sodomy allegation levelled against Opposition Leader Datuk Seri Anwar Ibrahim, he said the council’s views were independent of any personal interest.
About 150 politicians and MPs are expected to attend the public forum debating the relevance of the DNA Identification Bill.
Among the panelists will be Sungai Siput MP Dr D. Jeyakumar, Dr Koh Chong Lek — the head of the Singapore-based National Institute of Education DNA Centre, and legal experts Tommy Thomas and Datuk V. Sithambaram.
KUALA LUMPUR: It would be better to channel funds for maintaining the proposed DNA databank under the DNA Identification Bill to crime prevention instead, said the Bar Council.
It’s vice-president K. Ragunath said it would cost a lot to maintain a DNA databank and such money would be put to better use if it beefed up the police force, allowed for more police beats, improved training facilities and upgraded the police computer system.
“The Government needs to clarify how many percentage of cases require DNA profiling and what sort of crimes may be solved through such analysis,” he said.
He said no statistics had been provided to support the need for the DNA Bill so far.
Ragunath said this at a press conference yesterday to announce a council forum entitled “The DNA Bill: Do We Need It?” to be held on Monday.
“The Bar Council also does not agree with the current draft of the Bill because we cannot accept that DNA samples can be used as conclusive evidence in court,” he said.
“This means that the accused will not be able to object or challenge the authenticity of the samples by presenting other forms of evidence,” Ragunath added.
Asked whether the council’s stand had anything to do with the recent sodomy allegation levelled against Opposition Leader Datuk Seri Anwar Ibrahim, he said the council’s views were independent of any personal interest.
About 150 politicians and MPs are expected to attend the public forum debating the relevance of the DNA Identification Bill.
Among the panelists will be Sungai Siput MP Dr D. Jeyakumar, Dr Koh Chong Lek — the head of the Singapore-based National Institute of Education DNA Centre, and legal experts Tommy Thomas and Datuk V. Sithambaram.
Making A Mockery Of Jihad
Source The Times of India
by Asghar Ali
The terror attacks in India as well as abroad have created an impression that jihad is central to Quranic teaching. First of all, as we have asserted repeatedly, jihad does not mean war in the Quran as there are other words for it like qital and harb. Jihad has been used in the Quran in its root meaning i.e. to strive and to strive for betterment of society, to spread goodness (maruf) and contain evil (munkar).
But supposing jihad means war, as some Muslims believe, even then it isn’t central to Quranic teachings. The word jihad occurs in the Quran 41 times though not a single verse uses it in the sense of war. There are four most fundamental values in the Quran i.e. justice (’adl), benevolence (ihsan), compassion (rahmah) and wisdom (hikmah). Thus, the Quran is an embodiment of these values and a Muslim is duty-bound to practise them above all. One who fails to practise these values can hardly claim to be a true Muslim. Jihad is not even obligatory in Islamic jurisprudence whereas these values are indicative of a Muslim’s character and hence quite important. It would be seen that compassion is most central to Quranic teachings. The words “compassion” and “mercy” in their various forms occur in the Quran 335 times as against only 41 for jihad.
There is great emphasis in the Quran on justice in all social and political matters and it uses three words for justice — ’adl, qist and hakama. These three words occur 244 times in the Quran. To seek revenge is human weakness, not strength. Thus, a devout Muslim tends to forgive like Allah who forgives his servants if they sincerely repent. Those who are waging jihad in the form of terror attacks are bent upon seeking revenge whereas a good Muslim would tend to forgive just as Allah does.
In Shariah law, jihad can be declared only by the state or those empowered by it. Terror attacks, on the other hand, are planned and executed by a few individuals unrepresentative of any state or state institution. So their attacks cannot be legitimate by any Islamic or Shariah law. That is nothing but committing murder of innocent people. Also, according to Islamic laws, in jihad no non-combatant can be attacked, much less women, children and old persons and no civilian property can be destroyed unless it is being used for military purposes or for purposes of combat.
It can be seen that the rules laid down for war by Islamic laws are no different from modern laws of warfare or the Geneva conventions. But terror attacks are a gross violation of all these Islamic rules and there is no way these attacks can be characterised as jihad. The terrorists are described by the media as jihadis. This is a gross misuse of the word as there is no word like jihadi in the Arabic language. It is in fact ‘mujahid’ and it is used in a laudatory sense — one who devotes oneself to a good cause like fighting against social evils.
The Quran advises Muslims: “And cast not yourselves to destruction with your own hands and do good (to others). Surely Allah loves the doers of good.” This advice of the Quran not to throw oneself to destruction with one’s own hands is important and relevant even today. What did the 9/11 attack result in? Did al-Qaeda not invite great disaster to the entire Islamic world, especially in Afghanistan and Iraq? Did they not throw themselves into perdition with their own hands? What good did that attack do to anyone ? Was there any wisdom in that rash and ruthless attack?
Revenge only satisfies our ego and injures the ego of the enemy and thus the war of attrition continues. What terrorists are doing is seeking revenge and that too from a weaker position. Every attack brings nothing but disaster for themselves and others. Various verses quoted to justify jihad are generally taken in a literal sense and ignore the value system of the Quran. It is a well-known fact that be it al-Qaeda or any other terrorist organisation, they do not represent any government or larger Muslim organisation. They succeed in mobilising some angry youth who are carried away by ‘Islamic’ rhetoric and commit terrorist attacks taking lives of innocent people. These attacks violate all Quranic values.
Seventh century Arabia cannot be compared to conditions in the contemporary world. Today’s world is radically different from that period and we should go more by Quranic ethics than injunctions about war. There are several institutions now available for arbitration, reconciliation and solving disputes. One should not rush to resort to violence.
In the Indian context, one cannot avenge communal violence by terrorist attacks on innocent Hindus and Muslims in marketplaces. It is the same sin which communal forces committed against innocent Muslims. Wisdom requires that one should patiently mobilise public opinion through democratic means, win over the hearts of common people and expose communal and fascist forces.
One hopes that the misguided Muslim youth resorting to violent actions will realise the futility of terror attacks and renounce such sinful and criminal acts, concentrating instead on excelling in learning and acquiring a superior moral character. Did not the Prophet say that the “ink of a scholar is superior to the blood of the martyr”?
The writer is with the Centre for Study of Society and Secularism in Mumbai.
by Asghar Ali
The terror attacks in India as well as abroad have created an impression that jihad is central to Quranic teaching. First of all, as we have asserted repeatedly, jihad does not mean war in the Quran as there are other words for it like qital and harb. Jihad has been used in the Quran in its root meaning i.e. to strive and to strive for betterment of society, to spread goodness (maruf) and contain evil (munkar).
But supposing jihad means war, as some Muslims believe, even then it isn’t central to Quranic teachings. The word jihad occurs in the Quran 41 times though not a single verse uses it in the sense of war. There are four most fundamental values in the Quran i.e. justice (’adl), benevolence (ihsan), compassion (rahmah) and wisdom (hikmah). Thus, the Quran is an embodiment of these values and a Muslim is duty-bound to practise them above all. One who fails to practise these values can hardly claim to be a true Muslim. Jihad is not even obligatory in Islamic jurisprudence whereas these values are indicative of a Muslim’s character and hence quite important. It would be seen that compassion is most central to Quranic teachings. The words “compassion” and “mercy” in their various forms occur in the Quran 335 times as against only 41 for jihad.
There is great emphasis in the Quran on justice in all social and political matters and it uses three words for justice — ’adl, qist and hakama. These three words occur 244 times in the Quran. To seek revenge is human weakness, not strength. Thus, a devout Muslim tends to forgive like Allah who forgives his servants if they sincerely repent. Those who are waging jihad in the form of terror attacks are bent upon seeking revenge whereas a good Muslim would tend to forgive just as Allah does.
In Shariah law, jihad can be declared only by the state or those empowered by it. Terror attacks, on the other hand, are planned and executed by a few individuals unrepresentative of any state or state institution. So their attacks cannot be legitimate by any Islamic or Shariah law. That is nothing but committing murder of innocent people. Also, according to Islamic laws, in jihad no non-combatant can be attacked, much less women, children and old persons and no civilian property can be destroyed unless it is being used for military purposes or for purposes of combat.
It can be seen that the rules laid down for war by Islamic laws are no different from modern laws of warfare or the Geneva conventions. But terror attacks are a gross violation of all these Islamic rules and there is no way these attacks can be characterised as jihad. The terrorists are described by the media as jihadis. This is a gross misuse of the word as there is no word like jihadi in the Arabic language. It is in fact ‘mujahid’ and it is used in a laudatory sense — one who devotes oneself to a good cause like fighting against social evils.
The Quran advises Muslims: “And cast not yourselves to destruction with your own hands and do good (to others). Surely Allah loves the doers of good.” This advice of the Quran not to throw oneself to destruction with one’s own hands is important and relevant even today. What did the 9/11 attack result in? Did al-Qaeda not invite great disaster to the entire Islamic world, especially in Afghanistan and Iraq? Did they not throw themselves into perdition with their own hands? What good did that attack do to anyone ? Was there any wisdom in that rash and ruthless attack?
Revenge only satisfies our ego and injures the ego of the enemy and thus the war of attrition continues. What terrorists are doing is seeking revenge and that too from a weaker position. Every attack brings nothing but disaster for themselves and others. Various verses quoted to justify jihad are generally taken in a literal sense and ignore the value system of the Quran. It is a well-known fact that be it al-Qaeda or any other terrorist organisation, they do not represent any government or larger Muslim organisation. They succeed in mobilising some angry youth who are carried away by ‘Islamic’ rhetoric and commit terrorist attacks taking lives of innocent people. These attacks violate all Quranic values.
Seventh century Arabia cannot be compared to conditions in the contemporary world. Today’s world is radically different from that period and we should go more by Quranic ethics than injunctions about war. There are several institutions now available for arbitration, reconciliation and solving disputes. One should not rush to resort to violence.
In the Indian context, one cannot avenge communal violence by terrorist attacks on innocent Hindus and Muslims in marketplaces. It is the same sin which communal forces committed against innocent Muslims. Wisdom requires that one should patiently mobilise public opinion through democratic means, win over the hearts of common people and expose communal and fascist forces.
One hopes that the misguided Muslim youth resorting to violent actions will realise the futility of terror attacks and renounce such sinful and criminal acts, concentrating instead on excelling in learning and acquiring a superior moral character. Did not the Prophet say that the “ink of a scholar is superior to the blood of the martyr”?
The writer is with the Centre for Study of Society and Secularism in Mumbai.
Asia, Pacific markets tumble in opening
Source CNN
(CNN) -- Japan's Nikkei dropped more than 5 percent, falling below the 10,000 mark in early trading Tuesday, as Asian and Pacific markets responded to Wall Street's drop below the same mark on Monday.
The Korea Exchange fell more than 2 percent, and the Australian Securities Exchange dropped nearly 3 percent.
In the United States, the Dow Jones industrials plunged by as much as 800 points, falling below 10,000 for the first time since October 2004.
The most influential European markets also suffered big losses, as the credit crisis tightened its grip on banks and other financial institutions. London's FTSE 100 ended down 7.9 percent, the biggest one-day fall since 1987; the CAC 40 in Paris skidded 9 percent, and the XETRA DAX in Frankfurt tumbled 7.1 percent.
The declines were led by the banking industry, with the mining and oil sectors also suffering.
Russia's RTS index fared worse, shutting down after falling more than 20 percent. The index lost 9 percent of its value in the first 30 minutes of the trading day. Video Watch how falling oil is hitting Russia »
Iceland halted trading in six bank stocks Monday. Icelandic banks' assets dwarf the rest of its economy and its currency has fallen sharply in the past week. The government rushed to draft a plan to deal with the financial turmoil's impact on its over-leveraged banking sector.
Earlier Monday, Asian and Pacific markets ended roundly lower. The Nikkei closed down 465.05 points, or 4.25 percent, at 10,473.09, a 4-1/2 year low. South Korea's KOSPI index finished the day off 4.3 percent.
The Australian Securities Exchange plunged about 3.4 percent to 4,544.70, and Hong Kong's Hang Seng lost nearly 5 percent of its value, falling to 16,803.76.
In Brazil, stocks lost up to 15 percent. Argentina's Merval Index of the Bolsa de Comercio de Buenos Aires tumbled more than 11 percent, driven principally by stocks linked to petroleum industry companies Tenaris and Petrobras.
The slides Monday come amid days of unrelenting financial turmoil and despite the passage by U.S. lawmakers of a $700 billion bailout plan late Friday.
"What we thought was going to be a contained domestic (U.S.) problem is definitely global," William Larkin, portfolio manager at Cabot Money Management, told CNNMoney. "It is now rooted in Europe, and it looks like it is probably spreading to Asia."
The slump followed a weekend in which Germany's private financial sector promised to put up an additional €15 billion ($20.3 billion), in addition to the €35 billion already pledged, to help shore up Hypo Real Estate bank, the nation's Finance Ministry said Sunday.
In France, BNP Paribas committed to taking a 75 percent stake in troubled European bank Fortis NV, and Sweden and Denmark followed Ireland and Britain in raising the amount of savers' deposits guaranteed by the government.
Britain's treasury chief Alistair Darling said he was "ready to do whatever it takes" to get the country through the credit crunch, and was looking at a "range of proposals," The Associated Press reported.
European Union finance ministers were to meet in Luxembourg Monday and Tuesday to discuss ways to boost the battered banking system.
Italian Prime Minister Silvio Berlusconi is pushing a bailout similar to the one passed by the U.S. Congress last week and signed by President Bush on Friday.
(CNN) -- Japan's Nikkei dropped more than 5 percent, falling below the 10,000 mark in early trading Tuesday, as Asian and Pacific markets responded to Wall Street's drop below the same mark on Monday.
The Korea Exchange fell more than 2 percent, and the Australian Securities Exchange dropped nearly 3 percent.
In the United States, the Dow Jones industrials plunged by as much as 800 points, falling below 10,000 for the first time since October 2004.
The most influential European markets also suffered big losses, as the credit crisis tightened its grip on banks and other financial institutions. London's FTSE 100 ended down 7.9 percent, the biggest one-day fall since 1987; the CAC 40 in Paris skidded 9 percent, and the XETRA DAX in Frankfurt tumbled 7.1 percent.
The declines were led by the banking industry, with the mining and oil sectors also suffering.
Russia's RTS index fared worse, shutting down after falling more than 20 percent. The index lost 9 percent of its value in the first 30 minutes of the trading day. Video Watch how falling oil is hitting Russia »
Iceland halted trading in six bank stocks Monday. Icelandic banks' assets dwarf the rest of its economy and its currency has fallen sharply in the past week. The government rushed to draft a plan to deal with the financial turmoil's impact on its over-leveraged banking sector.
Earlier Monday, Asian and Pacific markets ended roundly lower. The Nikkei closed down 465.05 points, or 4.25 percent, at 10,473.09, a 4-1/2 year low. South Korea's KOSPI index finished the day off 4.3 percent.
The Australian Securities Exchange plunged about 3.4 percent to 4,544.70, and Hong Kong's Hang Seng lost nearly 5 percent of its value, falling to 16,803.76.
In Brazil, stocks lost up to 15 percent. Argentina's Merval Index of the Bolsa de Comercio de Buenos Aires tumbled more than 11 percent, driven principally by stocks linked to petroleum industry companies Tenaris and Petrobras.
The slides Monday come amid days of unrelenting financial turmoil and despite the passage by U.S. lawmakers of a $700 billion bailout plan late Friday.
"What we thought was going to be a contained domestic (U.S.) problem is definitely global," William Larkin, portfolio manager at Cabot Money Management, told CNNMoney. "It is now rooted in Europe, and it looks like it is probably spreading to Asia."
The slump followed a weekend in which Germany's private financial sector promised to put up an additional €15 billion ($20.3 billion), in addition to the €35 billion already pledged, to help shore up Hypo Real Estate bank, the nation's Finance Ministry said Sunday.
In France, BNP Paribas committed to taking a 75 percent stake in troubled European bank Fortis NV, and Sweden and Denmark followed Ireland and Britain in raising the amount of savers' deposits guaranteed by the government.
Britain's treasury chief Alistair Darling said he was "ready to do whatever it takes" to get the country through the credit crunch, and was looking at a "range of proposals," The Associated Press reported.
European Union finance ministers were to meet in Luxembourg Monday and Tuesday to discuss ways to boost the battered banking system.
Italian Prime Minister Silvio Berlusconi is pushing a bailout similar to the one passed by the U.S. Congress last week and signed by President Bush on Friday.
Police fire at demonstrators
Source StraitsTimes
BANGKOK - POLICE fired tear gas on Tuesday at several thousand demonstrators attempting to block access by lawmakers to the Parliament building in the Thai capital.
Reporters at the scene on Tuesday saw at least one person injured by the gas. Sounds of gunfire were also heard but senior police officials said that only tear gas was being used against the crowd.
'I don't think there are many injuries,' police Major General Viboon Bangthamai said.
The protests are part of an effort by the People's Alliance for Democracy to bring down the government, which it says is merely a proxy for ex-Prime Minister Thaksin Shinawatra, who was ousted in 2006 by military leaders who accused him of corruption and who now resides in exile.
The alliance, which is also occupying the prime minister's residence, marshaled the protesters around streets leading to the Parliament during the night.
Police moved in and early morning fired 40 to 50 canisters of tear gas against more than 4,000 of the demonstrators.
Lawmakers were due to enter Parliament for a session later on Tuesday.
Thailand has been wrecked in recent months by political turmoil that has all but paralysed the government.
BANGKOK - POLICE fired tear gas on Tuesday at several thousand demonstrators attempting to block access by lawmakers to the Parliament building in the Thai capital.
Reporters at the scene on Tuesday saw at least one person injured by the gas. Sounds of gunfire were also heard but senior police officials said that only tear gas was being used against the crowd.
'I don't think there are many injuries,' police Major General Viboon Bangthamai said.
The protests are part of an effort by the People's Alliance for Democracy to bring down the government, which it says is merely a proxy for ex-Prime Minister Thaksin Shinawatra, who was ousted in 2006 by military leaders who accused him of corruption and who now resides in exile.
The alliance, which is also occupying the prime minister's residence, marshaled the protesters around streets leading to the Parliament during the night.
Police moved in and early morning fired 40 to 50 canisters of tear gas against more than 4,000 of the demonstrators.
Lawmakers were due to enter Parliament for a session later on Tuesday.
Thailand has been wrecked in recent months by political turmoil that has all but paralysed the government.
Thai Parliament besieged
Source StraitsTimes
BANGKOK: Thousands of anti-government protesters marched to Thailand's Parliament yesterday evening, in what one of the rally leaders claimed would be their 'final battle'.
Thai television channels last night showed protesters unfurling barbed wire and using trucks to try and seal off the building ahead of an address by the new Cabinet today.
An official from Bangkok police told Agence France-Presse that about 4,000 people had gathered at Parliament, while 6,000 were at Government House, where anti-government protesters from the People's Alliance for Democracy (PAD) have been camping out since late August.
Thailand's new ministers are due to deliver their first policy address to the House, but the PAD is demanding that the elected government step down.
'Our fight has only 100 metres left, so we ask for PAD supporters to gather at the Parliament for our final battle,' protest leader Sondhi Limthongkul told the crowds still at Government House.
'Don't let the arrests of Chamlong and Chaiwat be wasted,' he said, referring to the detention over the weekend of key PAD leader Chamlong Srimuang and protest organiser Chaiwat Sinsuwong.
Unruffled, new Prime Minister Somchai Wongsawat insisted that the House session would go ahead.
'The House Speaker has already made the appointment - there will be no change. It is the duty of police to maintain law and order and clear the way for lawmakers to enter Parliament,' he told reporters.
'It is not right for the PAD to obstruct the representatives of the people.'
PAD leaders are demanding that the elected government step down because of its links to ousted prime minister Thaksin Shinawatra.
The PAD is also opposing a move by lawmakers to amend the Constitution. Mr Somchai had previously made clear his intention to amend the Constitution, and yesterday his People Power Party, its five coalition partners and the opposition Democrat Party agreed to support a process to change the charter.
The current Constitution was drafted and brought in during military rule following the September 2006 coup.
These developments are the latest setback to the negotiation process between the government and the PAD. Just earlier yesterday, Thai Deputy Prime Minister Chavalit Yongchaiyudh had expressed optimism about the talks, saying the arrest of Mr Chamlong would not derail negotiations.
'I can still negotiate with other PAD leaders...Our negotiations have not ended yet,' he said. 'These negotiations will soon be successful.'
The arrests had spawned intense speculation over the government's intentions and fears of an escalation in the political crisis - which now look like they are coming true.
Mr Chamlong was involved in preliminary talks with Mr Chavalit through an unnamed intermediary, but soon after his arrest, he made a phone call instructing the PAD to suspend negotiations with the government.
Mr Chamlong's arrest, however, has deprived the PAD of one of its key strategists. He is seen to be the brains behind the movement's military-like seizure in late August of a government television station, three airports and Government House, which plunged Thailand's ongoing political crisis into a new dimension.
Galvanised by news of these arrests, more PAD supporters had already turned up at Government House earlier yesterday. Older supporters seemed angry, but several younger supporters told The Straits Times that Mr Chamlong must have known he was going to be arrested, and the incident may be part of a political strategy.
In another development yesterday, British media reported the Home Office as confirming that Thaksin and his wife Khunying Pojaman had applied for political asylum in Britain.
Mr Somchai yesterday said he had not been informed of the asylum request, adding that he would not obstruct attempts to extradite Thaksin which, however, would have to follow due judicial process.
BANGKOK: Thousands of anti-government protesters marched to Thailand's Parliament yesterday evening, in what one of the rally leaders claimed would be their 'final battle'.
Thai television channels last night showed protesters unfurling barbed wire and using trucks to try and seal off the building ahead of an address by the new Cabinet today.
An official from Bangkok police told Agence France-Presse that about 4,000 people had gathered at Parliament, while 6,000 were at Government House, where anti-government protesters from the People's Alliance for Democracy (PAD) have been camping out since late August.
Thailand's new ministers are due to deliver their first policy address to the House, but the PAD is demanding that the elected government step down.
'Our fight has only 100 metres left, so we ask for PAD supporters to gather at the Parliament for our final battle,' protest leader Sondhi Limthongkul told the crowds still at Government House.
'Don't let the arrests of Chamlong and Chaiwat be wasted,' he said, referring to the detention over the weekend of key PAD leader Chamlong Srimuang and protest organiser Chaiwat Sinsuwong.
Unruffled, new Prime Minister Somchai Wongsawat insisted that the House session would go ahead.
'The House Speaker has already made the appointment - there will be no change. It is the duty of police to maintain law and order and clear the way for lawmakers to enter Parliament,' he told reporters.
'It is not right for the PAD to obstruct the representatives of the people.'
PAD leaders are demanding that the elected government step down because of its links to ousted prime minister Thaksin Shinawatra.
The PAD is also opposing a move by lawmakers to amend the Constitution. Mr Somchai had previously made clear his intention to amend the Constitution, and yesterday his People Power Party, its five coalition partners and the opposition Democrat Party agreed to support a process to change the charter.
The current Constitution was drafted and brought in during military rule following the September 2006 coup.
These developments are the latest setback to the negotiation process between the government and the PAD. Just earlier yesterday, Thai Deputy Prime Minister Chavalit Yongchaiyudh had expressed optimism about the talks, saying the arrest of Mr Chamlong would not derail negotiations.
'I can still negotiate with other PAD leaders...Our negotiations have not ended yet,' he said. 'These negotiations will soon be successful.'
The arrests had spawned intense speculation over the government's intentions and fears of an escalation in the political crisis - which now look like they are coming true.
Mr Chamlong was involved in preliminary talks with Mr Chavalit through an unnamed intermediary, but soon after his arrest, he made a phone call instructing the PAD to suspend negotiations with the government.
Mr Chamlong's arrest, however, has deprived the PAD of one of its key strategists. He is seen to be the brains behind the movement's military-like seizure in late August of a government television station, three airports and Government House, which plunged Thailand's ongoing political crisis into a new dimension.
Galvanised by news of these arrests, more PAD supporters had already turned up at Government House earlier yesterday. Older supporters seemed angry, but several younger supporters told The Straits Times that Mr Chamlong must have known he was going to be arrested, and the incident may be part of a political strategy.
In another development yesterday, British media reported the Home Office as confirming that Thaksin and his wife Khunying Pojaman had applied for political asylum in Britain.
Mr Somchai yesterday said he had not been informed of the asylum request, adding that he would not obstruct attempts to extradite Thaksin which, however, would have to follow due judicial process.
More S'pore-M'sia air links
Source StraitsTimes
SINGAPORE and Malaysia have taken yet another step towards liberalising air links.
From next month, low-cost carriers will be allowed to fly out of Singapore to three cities in East Malaysia - Kuching, Kotal Kinabalu and Miri.
For a start, Singapore low-cost carriers will be allowed a total of seven flights a week on each of the three routes.
From March 1, this will be doubled to 14 a week.
Malaysian low-cost carriers will have the same rights, Singapore's Transport Ministry said in a statement on Monday.
SilkAir and Malaysia Airlines are the only two carriers now that operate between Singapore and Kota Kinabalu and Kuching in East Malaysia. There are no direct flights from Singapore to Miri in Sarawak.
Low-cost carriers on both sides of the Causeway welcomed the move, adding that it will provide consumers with more options and bring fares down.
The liberalisation comes about 10 months after both governments lifted restrictions - but with a cap on the number of flights allowed - on the Singapore-Kuala Lumpur market.
In February, Singapore's Jetstar Asia and Tiger Airways, as well as Malaysia's AirAsia were given the all-clear to operate between the two cities.
Between them, the low-cost carriers operate four flights a a day.
All restrictions will be removed in December to allow an unlimited number of flights.
The liberalisation is part of a larger agenda to free the skies above Asean.
SINGAPORE and Malaysia have taken yet another step towards liberalising air links.
From next month, low-cost carriers will be allowed to fly out of Singapore to three cities in East Malaysia - Kuching, Kotal Kinabalu and Miri.
For a start, Singapore low-cost carriers will be allowed a total of seven flights a week on each of the three routes.
From March 1, this will be doubled to 14 a week.
Malaysian low-cost carriers will have the same rights, Singapore's Transport Ministry said in a statement on Monday.
SilkAir and Malaysia Airlines are the only two carriers now that operate between Singapore and Kota Kinabalu and Kuching in East Malaysia. There are no direct flights from Singapore to Miri in Sarawak.
Low-cost carriers on both sides of the Causeway welcomed the move, adding that it will provide consumers with more options and bring fares down.
The liberalisation comes about 10 months after both governments lifted restrictions - but with a cap on the number of flights allowed - on the Singapore-Kuala Lumpur market.
In February, Singapore's Jetstar Asia and Tiger Airways, as well as Malaysia's AirAsia were given the all-clear to operate between the two cities.
Between them, the low-cost carriers operate four flights a a day.
All restrictions will be removed in December to allow an unlimited number of flights.
The liberalisation is part of a larger agenda to free the skies above Asean.
S'pore: Financial system here safe
Source StraitsTimes
THE questions came fast and furious: How well are insurance policies protected? Are offshore banks safe? Can the Government make banks raise the guaranteed amount for deposits?
In an uncertain economic climate that has seen seemingly rock-solid financial institutions in the United States topple one after another, anxious residents yesterday quizzed the Finance Minister himself on Singapore's financial system.
Mr Tharman Shanmugaratnam assured them Singapore is 'not in the same situation as the US'.
'We need not panic,' he told residents at a dialogue in Toa Payoh East.
One resident noted that if there is a run on a bank here, depositors are protected for up to $20,000 in their accounts. 'I think many of us have more than $20,000. Can the minister do something to make the bank increase the guaranteed amount?' he asked.
Mr Tharman replied: 'I can assure you our Singapore banks are well regulated and there is no risk and no reason whatsoever to have a run on our banks.'
Singapore has been 'old-fashioned' in its strict regulatory approach to make sure banks have adequate assets, and do not over-lend to property owners.
'So frankly, you need not worry about how solid our banks are, your money is safe,' he said.
If banks are made to increase the guaranteed amount from $20,000, it will mean higher costs, ultimately borne by the customer. 'So I would say this system is better: regulate the banks well, keep deposit insurance cost low.'
To another resident who wanted to know how well-protected Singaporeans' insurance is, Mr Tharman stated categorically: 'You can have equal confidence in our insurers.
'Any insurance company operating in Singapore, including the foreign companies, have to abide by strict regulations.'
As for offshore banks, they are required to maintain assets in Singapore to meet their liabilities, he added.
'It is not possible for anyone to say all banks are safe, but what I can say is our local banks are safe, and foreign banks in Singapore are subject to tighter regulations compared to most other places.'
Ultimately, consumers must have their eyes open when going to financial institutions, and judge where their money is safe, he said. 'This is a responsibility that you have. Especially wheThe minister repeated this point when telling reporters later that there were lessons to be gleaned from the crisis.
The system can be improved, he acknowledged, whether on the part of the regulator, the Monetary Authority of Singapore (MAS); financial institutions; or the consumer.
'The MAS approach is one that balances regulation with responsibility on the part of the institution and the investor. All three play a part, and in all three areas, I'm sure there can be improvements, coming out of the recent problems.'
But he warned against over-regulating, saying risk is inherent in the system.
'We have to avoid swinging in a pendulum-like fashion when it comes to the regulation of financial products.
'There have to be improvements in marketing and selling and disclosure. There are learning points coming out from the recent problems.
'(But) let's not swing to over-regulation because that is going to increase costs and it's going to reduce the range of products that meet everyone's needs.'
He cited as an example Lehman Bonds, which, as late as July, were rated A1 by credit-rating agency Moody's. The highest rating is Aaa.
'Should MAS say A1 bonds should not be bought by people? I think that would be over-regulation, but it turned out that Lehman Bonds went bust.
'So it's an example of how there is risk in the system, there is no way you can get it out of the picture by over-regulation unless you over-regulate to the extent you cut out options to sensible investors.
'So let's find a suitable middle ground (to) improve the system.'
THE questions came fast and furious: How well are insurance policies protected? Are offshore banks safe? Can the Government make banks raise the guaranteed amount for deposits?
In an uncertain economic climate that has seen seemingly rock-solid financial institutions in the United States topple one after another, anxious residents yesterday quizzed the Finance Minister himself on Singapore's financial system.
Mr Tharman Shanmugaratnam assured them Singapore is 'not in the same situation as the US'.
'We need not panic,' he told residents at a dialogue in Toa Payoh East.
One resident noted that if there is a run on a bank here, depositors are protected for up to $20,000 in their accounts. 'I think many of us have more than $20,000. Can the minister do something to make the bank increase the guaranteed amount?' he asked.
Mr Tharman replied: 'I can assure you our Singapore banks are well regulated and there is no risk and no reason whatsoever to have a run on our banks.'
Singapore has been 'old-fashioned' in its strict regulatory approach to make sure banks have adequate assets, and do not over-lend to property owners.
'So frankly, you need not worry about how solid our banks are, your money is safe,' he said.
If banks are made to increase the guaranteed amount from $20,000, it will mean higher costs, ultimately borne by the customer. 'So I would say this system is better: regulate the banks well, keep deposit insurance cost low.'
To another resident who wanted to know how well-protected Singaporeans' insurance is, Mr Tharman stated categorically: 'You can have equal confidence in our insurers.
'Any insurance company operating in Singapore, including the foreign companies, have to abide by strict regulations.'
As for offshore banks, they are required to maintain assets in Singapore to meet their liabilities, he added.
'It is not possible for anyone to say all banks are safe, but what I can say is our local banks are safe, and foreign banks in Singapore are subject to tighter regulations compared to most other places.'
Ultimately, consumers must have their eyes open when going to financial institutions, and judge where their money is safe, he said. 'This is a responsibility that you have. Especially wheThe minister repeated this point when telling reporters later that there were lessons to be gleaned from the crisis.
The system can be improved, he acknowledged, whether on the part of the regulator, the Monetary Authority of Singapore (MAS); financial institutions; or the consumer.
'The MAS approach is one that balances regulation with responsibility on the part of the institution and the investor. All three play a part, and in all three areas, I'm sure there can be improvements, coming out of the recent problems.'
But he warned against over-regulating, saying risk is inherent in the system.
'We have to avoid swinging in a pendulum-like fashion when it comes to the regulation of financial products.
'There have to be improvements in marketing and selling and disclosure. There are learning points coming out from the recent problems.
'(But) let's not swing to over-regulation because that is going to increase costs and it's going to reduce the range of products that meet everyone's needs.'
He cited as an example Lehman Bonds, which, as late as July, were rated A1 by credit-rating agency Moody's. The highest rating is Aaa.
'Should MAS say A1 bonds should not be bought by people? I think that would be over-regulation, but it turned out that Lehman Bonds went bust.
'So it's an example of how there is risk in the system, there is no way you can get it out of the picture by over-regulation unless you over-regulate to the extent you cut out options to sensible investors.
'So let's find a suitable middle ground (to) improve the system.'
Zoellick: Replace G7
Source StraitsTimes
WASHINGTON - THE Group of Seven rich nations is no longer effective and should be replaced by a steering group that includes emerging economic powers like China, India and Brazil, World Bank President Robert Zoellick said on Monday.
In a speech ahead of meetings of G7 finance leaders in Washington this weekend, Mr Zoellick said the global financial crisis was a 'wake-up call' that required broader cooperation across more countries.
'The G7 is not working,' Mr Zoellick said, referring to the group of rich countries including the United States, Canada, Britain, Germany, France, Italy and Japan.
'We need a better group for a different time.
'The new multilateralism, suiting our times, will need to be a flexible network, not a fixed nor unitary system,' Mr Zoellick said.
'It needs to maximise the strengths of interconnecting and overlapping actors and institutions, public and private,' he said.
He said the steering group should include finance ministers from China, India, Brazil, South Africa, Saudi Arabia and Russia. It should not, however, be limited to any set number of countries but should be flexible and evolve with the times.
Mr Zoellick's comments on reforming the G7 echoed comments he has made about adapting the World Bank to address changing times in which emerging market countries have a greater stake in the global economy.
Mr Zoellick has announced he will form a commission led by former Mexican President Ernesto Zedillo to help modernise the World Bank's governance structure, long dominated by the United States and Europeans.
For the reforms Mr Zoellick envisions to replace the G7, the group would bring together over 70 per cent of the world's gross domestic product, 56 per cent of the world population, 62 per cent of global energy production, the world's major carbon emitters, big donor countries, and the main players in global capital, commodity, and exchange rate markets.
The new system would respect state sovereignty but require a 'sense of shared responsibility,' he said.
He said the group should meet regularly, either in person or via videoconferencing, and may need back up from the World Bank and the International Monetary Fund to identify emerging problems and solutions.
Next US president
Mr Zoellick, who has served in high-ranking foreign and economic policy posts under three Republican presidents, said the next US president would have to move beyond the firefight of financial stabilisation and would need to work with other countries.
'That work is not about America alone. Both candidates have spoken about strengthening the sinews of America's ties with the world,' he said, referring to the Republican and Democratic presidential contenders, John McCain and Barack Obama.
'How the next American president will do this matters.'
Mr Zoellick has won the praise of economic and development leaders in recent months for calling attention to the global food crisis and the danger it posed to developing countries.
He has warned that the 'double jeopardy' of higher food and fuel prices and now the financial crisis could be a tipping point for developing countries and could push 100 million people deeper into poverty.
'The stark reality is that developing countries must prepare for a drop in trade, capital flows, remittances, and domestic investment, as well as slowdown in growth,' he said.
Dangers lurking
Mr Zoellick said the drop in exports and capital flows will affect investments, while a decline in growth and worsening credit conditions, combined with monetary tightening, will trigger business failures and possibly banking emergencies.
'Some countries will slip towards balance of payments crises. As is always the case, the most poor are the most defenseless,' he added.
He said challenging times will require the World Bank and the IMF to step in and act quickly.
'For some larger countries under threat, the steering group and friendly countries should act in concert with the IMF and the banks to offer support linked to policy reforms that will return the country to sustainable growth,' he added.
Mr Zoellick also called for a 'global bargain' between energy producers and consumers in which both sides shared plans for expanding supplies, improving efficiency and lessening demand, increasing energy to the poor, and addressing climate change.
'There could be a common interest in managing a price range that reconciles interests while transitioning towards lower carbon growth strategies, a broader portfolio of supplies, and greater international security,' Mr Zoellick said.
WASHINGTON - THE Group of Seven rich nations is no longer effective and should be replaced by a steering group that includes emerging economic powers like China, India and Brazil, World Bank President Robert Zoellick said on Monday.
In a speech ahead of meetings of G7 finance leaders in Washington this weekend, Mr Zoellick said the global financial crisis was a 'wake-up call' that required broader cooperation across more countries.
'The G7 is not working,' Mr Zoellick said, referring to the group of rich countries including the United States, Canada, Britain, Germany, France, Italy and Japan.
'We need a better group for a different time.
'The new multilateralism, suiting our times, will need to be a flexible network, not a fixed nor unitary system,' Mr Zoellick said.
'It needs to maximise the strengths of interconnecting and overlapping actors and institutions, public and private,' he said.
He said the steering group should include finance ministers from China, India, Brazil, South Africa, Saudi Arabia and Russia. It should not, however, be limited to any set number of countries but should be flexible and evolve with the times.
Mr Zoellick's comments on reforming the G7 echoed comments he has made about adapting the World Bank to address changing times in which emerging market countries have a greater stake in the global economy.
Mr Zoellick has announced he will form a commission led by former Mexican President Ernesto Zedillo to help modernise the World Bank's governance structure, long dominated by the United States and Europeans.
For the reforms Mr Zoellick envisions to replace the G7, the group would bring together over 70 per cent of the world's gross domestic product, 56 per cent of the world population, 62 per cent of global energy production, the world's major carbon emitters, big donor countries, and the main players in global capital, commodity, and exchange rate markets.
The new system would respect state sovereignty but require a 'sense of shared responsibility,' he said.
He said the group should meet regularly, either in person or via videoconferencing, and may need back up from the World Bank and the International Monetary Fund to identify emerging problems and solutions.
Next US president
Mr Zoellick, who has served in high-ranking foreign and economic policy posts under three Republican presidents, said the next US president would have to move beyond the firefight of financial stabilisation and would need to work with other countries.
'That work is not about America alone. Both candidates have spoken about strengthening the sinews of America's ties with the world,' he said, referring to the Republican and Democratic presidential contenders, John McCain and Barack Obama.
'How the next American president will do this matters.'
Mr Zoellick has won the praise of economic and development leaders in recent months for calling attention to the global food crisis and the danger it posed to developing countries.
He has warned that the 'double jeopardy' of higher food and fuel prices and now the financial crisis could be a tipping point for developing countries and could push 100 million people deeper into poverty.
'The stark reality is that developing countries must prepare for a drop in trade, capital flows, remittances, and domestic investment, as well as slowdown in growth,' he said.
Dangers lurking
Mr Zoellick said the drop in exports and capital flows will affect investments, while a decline in growth and worsening credit conditions, combined with monetary tightening, will trigger business failures and possibly banking emergencies.
'Some countries will slip towards balance of payments crises. As is always the case, the most poor are the most defenseless,' he added.
He said challenging times will require the World Bank and the IMF to step in and act quickly.
'For some larger countries under threat, the steering group and friendly countries should act in concert with the IMF and the banks to offer support linked to policy reforms that will return the country to sustainable growth,' he added.
Mr Zoellick also called for a 'global bargain' between energy producers and consumers in which both sides shared plans for expanding supplies, improving efficiency and lessening demand, increasing energy to the poor, and addressing climate change.
'There could be a common interest in managing a price range that reconciles interests while transitioning towards lower carbon growth strategies, a broader portfolio of supplies, and greater international security,' Mr Zoellick said.
Anwar cutout against Islam?
Source TheStar
KUALA LUMPUR: The 12.2m high cutout of PKR adviser Datuk Seri Anwar Ibrahim in Batu Caves has drawn mixed reactions from the residents and politicians.
Selayang Municipal Council president Zainal Abidin Azim said Batu Caves assemblyman Amirudin Shari had submitted for approval the cutout which stands in front of Wisma Keringat in Batu Caves last month and the council approved it.
“I feel there is no reason this cutout should be an issue,’’ he said about the giant structure which is akin to those used to promote Bollywood stars.
However, Barisan Nasional assemblymen who are against the cutout costing RM5,000 that was put up on Sept 28 argued on religious grounds that it would be tantamount to idolising Anwar and that was prohibited in Islam.
Kuang assemblyman Abdul Shukur Idrus said, as a Muslim, Amirudin should know better than to put up the cutout.
“He should have consulted a religious group like the PAS for advice.
“This cutout just shows that the PKR is promoting itself with banners and posters,’’ he added.
Meanwhile, Sungai Burong assemblyman Datuk Mohd Shamsudin Lias said that it was a waste of public funds.
“Although there is a claim that the cutout is to wish the people Selamat Hari Raya, there are many other ways to do it.
“Besides everyone knows who Anwar Ibrahim is,” he said.
Amirudin said the cutout was initiated by activists and residents in the Batu Caves constituency to wish the people Selamat Hari Raya and it would be taken down once the duration date was up.
In Malacca, Umno vice president Datuk Seri Mohd Ali Rustam said the cutout showed that Anwar was idolised by PKR.
“I want to ask PAS whether the party gave the approval for the erection of the cutout,” he told reporters after a visit to the Kota Gemilang project in Ayer Keroh yesterday.
Perlis Mufti Dr Asri Zainul Abidin advised Anwar’s supporters not to be too extreme in their actions such as idolising the PKR leader.
“The action should be stopped immediately for fear that it would become a practise within the society.
“It can deviate the Muslim’s faith.
“I don’t blame Anwar because it was not him who put up the cutout but his supporters should not idolise too much.
“The structure must be brought down immediately,’’ said the mufti.
KUALA LUMPUR: The 12.2m high cutout of PKR adviser Datuk Seri Anwar Ibrahim in Batu Caves has drawn mixed reactions from the residents and politicians.
Selayang Municipal Council president Zainal Abidin Azim said Batu Caves assemblyman Amirudin Shari had submitted for approval the cutout which stands in front of Wisma Keringat in Batu Caves last month and the council approved it.
“I feel there is no reason this cutout should be an issue,’’ he said about the giant structure which is akin to those used to promote Bollywood stars.
However, Barisan Nasional assemblymen who are against the cutout costing RM5,000 that was put up on Sept 28 argued on religious grounds that it would be tantamount to idolising Anwar and that was prohibited in Islam.
Kuang assemblyman Abdul Shukur Idrus said, as a Muslim, Amirudin should know better than to put up the cutout.
“He should have consulted a religious group like the PAS for advice.
“This cutout just shows that the PKR is promoting itself with banners and posters,’’ he added.
Meanwhile, Sungai Burong assemblyman Datuk Mohd Shamsudin Lias said that it was a waste of public funds.
“Although there is a claim that the cutout is to wish the people Selamat Hari Raya, there are many other ways to do it.
“Besides everyone knows who Anwar Ibrahim is,” he said.
Amirudin said the cutout was initiated by activists and residents in the Batu Caves constituency to wish the people Selamat Hari Raya and it would be taken down once the duration date was up.
In Malacca, Umno vice president Datuk Seri Mohd Ali Rustam said the cutout showed that Anwar was idolised by PKR.
“I want to ask PAS whether the party gave the approval for the erection of the cutout,” he told reporters after a visit to the Kota Gemilang project in Ayer Keroh yesterday.
Perlis Mufti Dr Asri Zainul Abidin advised Anwar’s supporters not to be too extreme in their actions such as idolising the PKR leader.
“The action should be stopped immediately for fear that it would become a practise within the society.
“It can deviate the Muslim’s faith.
“I don’t blame Anwar because it was not him who put up the cutout but his supporters should not idolise too much.
“The structure must be brought down immediately,’’ said the mufti.
Abdullah to announce Wednesday if he’s defending Umno post
Source TheStar
KUALA LUMPUR: Datuk Seri Abdullah Ahmad Badawi will announce whether he will defend his Umno presidency by tomorrow.
The Prime Minister is expected to inform the Cabinet and leaders at the Barisan Nasional supreme council meeting, which will be held tomorrow, of his decision.
“I will decide by tomorrow (Tuesday) or Wednesday. You wait lah. Why so impatient?” he told a press conference after the third meeting of the Biotech International Advisory Panel here yesterday.
Although he did not indicate what his decision would be, Abdullah, who is also Barisan chairman, is expected to announce that he would not be defending his post during the party polls in March next year.
This is in line with the bringing forward of Umno’s transition of power plan.
Yesterday at the press conference, Abdullah declined to say what his decision would be.
When asked if he had actually made a decision, he said:
“If I tell you, then I would be announcing it now. I don’t intend to announce it now. You will have to wait. After all, two, three, four days is not too long, right?”
Abdullah was earlier asked whether he was planning to give up his post or defend it and contest against Najib since several Umno leaders had offered to contest for the deputy president’s post.
His reply was: “It is too early (to say).”
On the individuals who have announced their intention to contest the number two position, he said it was entirely up to them whether they wanted to announce it early or wait to do so after his announcement.
“Believe me, after a while some of them will drop out and in the end there may be only two, may be even only just one left,” he said.
On his focus as Prime Minister now, Abdullah said he still had work to do to fulfil the reforms he had promised in the Barisan Nasional 2004 election manifesto.
“What I promise, I must deliver,” he said.
KUALA LUMPUR: Datuk Seri Abdullah Ahmad Badawi will announce whether he will defend his Umno presidency by tomorrow.
The Prime Minister is expected to inform the Cabinet and leaders at the Barisan Nasional supreme council meeting, which will be held tomorrow, of his decision.
“I will decide by tomorrow (Tuesday) or Wednesday. You wait lah. Why so impatient?” he told a press conference after the third meeting of the Biotech International Advisory Panel here yesterday.
Although he did not indicate what his decision would be, Abdullah, who is also Barisan chairman, is expected to announce that he would not be defending his post during the party polls in March next year.
This is in line with the bringing forward of Umno’s transition of power plan.
Yesterday at the press conference, Abdullah declined to say what his decision would be.
When asked if he had actually made a decision, he said:
“If I tell you, then I would be announcing it now. I don’t intend to announce it now. You will have to wait. After all, two, three, four days is not too long, right?”
Abdullah was earlier asked whether he was planning to give up his post or defend it and contest against Najib since several Umno leaders had offered to contest for the deputy president’s post.
His reply was: “It is too early (to say).”
On the individuals who have announced their intention to contest the number two position, he said it was entirely up to them whether they wanted to announce it early or wait to do so after his announcement.
“Believe me, after a while some of them will drop out and in the end there may be only two, may be even only just one left,” he said.
On his focus as Prime Minister now, Abdullah said he still had work to do to fulfil the reforms he had promised in the Barisan Nasional 2004 election manifesto.
“What I promise, I must deliver,” he said.
PM not happy with Hindraf's visit
Source TheSTar
KUALA LUMPUR: The Hindraf supporters who turned up at the Hari Raya open house at Putra World Trade Centre last week did not extend festive greetings to the hosts, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.
He said they were only interested in calling for the repeal of the Internal Security Act (ISA) and the release of the group’s five members held under the Act.
Abdullah said he was gracious enough to allow them in as he thought they wanted to wish him and the other ministers but was disappointed that their intention was not so.
At the open house last Wednesday, more than a hundred Hindraf supporters turned up while another group came in support of detained blogger Raja Petra Kamarudin.
Relating the incident to reporters, he said the police and security personnel who initially denied the Hindraf group access, sought clearance from him.
“I discussed it with (Deputy Prime Minister) Datuk Seri Najib Tun Razak and the other ministers. In that spirit I told the security team to allow them in.
“They came in and there was a lot of noise, I don’t know why,” said Abdullah, who was at the time welcoming visitors to the open house with his wife Datin Seri Jeanne Abdullah, Najib and wife Datin Seri Rosmah Mansor.
“I heard very clearly ‘Hapuskan ISA, Lepaskan Hindraf’ (Repeal the ISA, Release the Hindraf detainees),” he said, adding that he did not know if another group of 70 people who arrived later had wished anyone as he had left for prayers by then.
Meanwhile, Hindraf filed reports against Home Minister Datuk Seri Syed Hamid Albar and Utusan Malaysia at various police stations nationwide for issuing and printing seditious statements about the movement.
Its national coordinator R.S. Tha-nenthiran said they were unhappy with the minister’s comments and the Malay daily’s biased reporting which painted the movement in a negative light.
Syed Hamid Albar was reported in Utusan Malaysia as saying that Hindraf’s action was a form of provocation and intimidation.
KUALA LUMPUR: The Hindraf supporters who turned up at the Hari Raya open house at Putra World Trade Centre last week did not extend festive greetings to the hosts, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.
He said they were only interested in calling for the repeal of the Internal Security Act (ISA) and the release of the group’s five members held under the Act.
Abdullah said he was gracious enough to allow them in as he thought they wanted to wish him and the other ministers but was disappointed that their intention was not so.
At the open house last Wednesday, more than a hundred Hindraf supporters turned up while another group came in support of detained blogger Raja Petra Kamarudin.
Relating the incident to reporters, he said the police and security personnel who initially denied the Hindraf group access, sought clearance from him.
“I discussed it with (Deputy Prime Minister) Datuk Seri Najib Tun Razak and the other ministers. In that spirit I told the security team to allow them in.
“They came in and there was a lot of noise, I don’t know why,” said Abdullah, who was at the time welcoming visitors to the open house with his wife Datin Seri Jeanne Abdullah, Najib and wife Datin Seri Rosmah Mansor.
“I heard very clearly ‘Hapuskan ISA, Lepaskan Hindraf’ (Repeal the ISA, Release the Hindraf detainees),” he said, adding that he did not know if another group of 70 people who arrived later had wished anyone as he had left for prayers by then.
Meanwhile, Hindraf filed reports against Home Minister Datuk Seri Syed Hamid Albar and Utusan Malaysia at various police stations nationwide for issuing and printing seditious statements about the movement.
Its national coordinator R.S. Tha-nenthiran said they were unhappy with the minister’s comments and the Malay daily’s biased reporting which painted the movement in a negative light.
Syed Hamid Albar was reported in Utusan Malaysia as saying that Hindraf’s action was a form of provocation and intimidation.
All eyes on Umno AGMs
Source TheSTar
PETALING JAYA: The Kimanis division in Sabah, headed by MP Datuk Anifah Aman, will be the first of the 191 Umno divisions to hold their AGMs this month.
The Kimanis division will meet on Oct 10, followed by Besut, Terengganu, on Oct 11.
Kimanis chief Anifah, who is also the younger brother of Sabah Chief Minister Datuk Seri Musa Aman, has been causing ripples with his no-holds barred views on Sabah and the Barisan Nasional.
Besut, on the other hand, is headed by former Terengganu Mentri Besar Datuk Seri Idris Jusoh who has sent out an SMS that his division intended to nominate Datuk Seri Najib Tun Razak for president and Tan Sri Muhyiddin Yassin for deputy president.
A total of 26 divisions are scheduled to meet in the first of the four weekends allocated for division meetings from Oct 9 to Nov 9.
Sabah and Perak are taking the lead with a total of five division meetings each in the first weekend stretch.
Apart from Kimanis, the others in Sabah are Kota Kinabalu, Silam, Kalabakan and Tuaran. The divisions in Perak are Kampar, Taiping, Bruas, Parit Buntar and Bagan Serai.
Four divisions in Johor are scheduled to meet on Oct 12. They are Pagoh, Batu Pahat, Mersing and Pontian.
Pagoh is the power base of Muhyiddin while Batu Pahat is headed by the outspoken Datuk Dr Puad Zakarshi. Mersing is headed by Deputy Health Minister Datuk Dr Latif Ahmad while the Mersing MP Datuk Ahmad Mazlan is a staunch Najib supporter.
The other divisions holding their AGMs on the first weekend are Shah Alam and Subang in Selangor, Kuantan and Rompin in Pahang, Jempol and Jelebu in Negri Sembilan, Tasik Gelugor and Bukit Gelugor in Penang, Kota Melaka in Malacca, Cheras in the Federal Territory and Machang in Kelantan.
All eyes will be on these divisions and who they nominate for the two top posts of Umno for national elections which will take place next March.
The rest of the 191 divisions scheduled to meet later are still waiting for a clear-cut signal from Umno president Datuk Seri Abdullah Ahmad Badawi on whether he will defend his post in the party elections.
Abdullah is expected to make known his decision today or tomorrow.
Until he declares his decision, the 26 divisions meeting this weekend will be under great pressure over who to nominate for the two top posts.
Kelantan Umno chief Tan Sri Annuar Musa said most division meetings could not be held earlier because they have to wait for the three wings in their respective divisions to complete their own meetings.
PETALING JAYA: The Kimanis division in Sabah, headed by MP Datuk Anifah Aman, will be the first of the 191 Umno divisions to hold their AGMs this month.
The Kimanis division will meet on Oct 10, followed by Besut, Terengganu, on Oct 11.
Kimanis chief Anifah, who is also the younger brother of Sabah Chief Minister Datuk Seri Musa Aman, has been causing ripples with his no-holds barred views on Sabah and the Barisan Nasional.
Besut, on the other hand, is headed by former Terengganu Mentri Besar Datuk Seri Idris Jusoh who has sent out an SMS that his division intended to nominate Datuk Seri Najib Tun Razak for president and Tan Sri Muhyiddin Yassin for deputy president.
A total of 26 divisions are scheduled to meet in the first of the four weekends allocated for division meetings from Oct 9 to Nov 9.
Sabah and Perak are taking the lead with a total of five division meetings each in the first weekend stretch.
Apart from Kimanis, the others in Sabah are Kota Kinabalu, Silam, Kalabakan and Tuaran. The divisions in Perak are Kampar, Taiping, Bruas, Parit Buntar and Bagan Serai.
Four divisions in Johor are scheduled to meet on Oct 12. They are Pagoh, Batu Pahat, Mersing and Pontian.
Pagoh is the power base of Muhyiddin while Batu Pahat is headed by the outspoken Datuk Dr Puad Zakarshi. Mersing is headed by Deputy Health Minister Datuk Dr Latif Ahmad while the Mersing MP Datuk Ahmad Mazlan is a staunch Najib supporter.
The other divisions holding their AGMs on the first weekend are Shah Alam and Subang in Selangor, Kuantan and Rompin in Pahang, Jempol and Jelebu in Negri Sembilan, Tasik Gelugor and Bukit Gelugor in Penang, Kota Melaka in Malacca, Cheras in the Federal Territory and Machang in Kelantan.
All eyes will be on these divisions and who they nominate for the two top posts of Umno for national elections which will take place next March.
The rest of the 191 divisions scheduled to meet later are still waiting for a clear-cut signal from Umno president Datuk Seri Abdullah Ahmad Badawi on whether he will defend his post in the party elections.
Abdullah is expected to make known his decision today or tomorrow.
Until he declares his decision, the 26 divisions meeting this weekend will be under great pressure over who to nominate for the two top posts.
Kelantan Umno chief Tan Sri Annuar Musa said most division meetings could not be held earlier because they have to wait for the three wings in their respective divisions to complete their own meetings.
PM: Focus on renewable palm biofuel
Source TheStar
KUALA LUMPUR: The country’s biotechnology industry could take advantage of the global concern over food and energy security by focusing on developing new and economically viable renewable fuel from palm oil.
Prime Minister Datuk Seri Abdullah Ahmad Badawi said the industry should leverage on Malaysia’s natural strengths like focusing on the palm oil industry.
“Innovative bio-refineries is a strategic area which will be looked at,” he told reporters at the third meeting of the Biotech International Advisory Panel here yesterday.
Abdullah said the meeting impressed the point that the world was different now compared with three years ago when the biotech initiative was first started.
To a question, he said Malaysia’s biotech industry was presently valued at RM1.3bil, with an expected annual growth of 22%, largely driven by the palm oil industry.
On the commercial availability of biofuel in the country, Abdullah said the necessary infrastructure must be developed first.
He also pointed out that it would be more profitable to convert palm oil to biofuel when the price of the commodity drops.
“When the price is down, they can choose biofuel. Then biofuel will have added value and the price will be higher,” he said.
KUALA LUMPUR: The country’s biotechnology industry could take advantage of the global concern over food and energy security by focusing on developing new and economically viable renewable fuel from palm oil.
Prime Minister Datuk Seri Abdullah Ahmad Badawi said the industry should leverage on Malaysia’s natural strengths like focusing on the palm oil industry.
“Innovative bio-refineries is a strategic area which will be looked at,” he told reporters at the third meeting of the Biotech International Advisory Panel here yesterday.
Abdullah said the meeting impressed the point that the world was different now compared with three years ago when the biotech initiative was first started.
To a question, he said Malaysia’s biotech industry was presently valued at RM1.3bil, with an expected annual growth of 22%, largely driven by the palm oil industry.
On the commercial availability of biofuel in the country, Abdullah said the necessary infrastructure must be developed first.
He also pointed out that it would be more profitable to convert palm oil to biofuel when the price of the commodity drops.
“When the price is down, they can choose biofuel. Then biofuel will have added value and the price will be higher,” he said.
Five to contest UMNO Deputy President post - Abdullah no more in political radar of Umno leaders
Source MP KitSiang
Datuk Seri Abdullah Ahmad Badawi has still four days to go before Oct. 9 to announce his Hamlet decision of “To Do Or Not To Do” – “To Defend Or Not To Defend the Umno President (and Prime Minister’s) Post”.
However, the declaration by five Umno leaders, led by the Minister in the Prime Minister’s Department Datuk Seri Dr. Ahmad Zahid Hamidi and the Malacca Chief Minister Datuk Mohd Ali Rustam, of their decision or interest to contest for the Umno Deputy President’s post before it falls vacant is very eloquent testimony that Abdullah has ceased to exist in their political radar well before his Oct. 9 announcement.
Clearly, Abdullah has already been ousted from the mainstream Umno currents and relegated to the periphery of Umno politics although he is still incumbent Umno President and Prime Minister. How fast the powerful have fallen!
But will Abdullah drop a bombshell of a surprise in his “before Oct. 9” announcement – as former Prime Minister Tun Dr. Mahathir Mohamad seems to think, when he said today that he does not believe that Abdullah intends to announce his departure before the start of Umno divisional meetings on Oct 9.
Mahathir said: “He likes to change his position, so as long as he does not make the announcement I will not believe it.”
The bet however is on Abdullah throwing in the towel as a result of the immense pressures by the Umno leaders for him to scuttle his mid-June 2010 power transition plan.
I believe Abdullah will have to announce his intentions by Wednesday, which is probably the last Cabinet meeting which he could preside with dignity and authority – unless he is prepared to demonstrate that he will under no circumstances be a “lameduck” Prime Minister, whether defends the post of Umno President or not.
Datuk Seri Abdullah Ahmad Badawi has still four days to go before Oct. 9 to announce his Hamlet decision of “To Do Or Not To Do” – “To Defend Or Not To Defend the Umno President (and Prime Minister’s) Post”.
However, the declaration by five Umno leaders, led by the Minister in the Prime Minister’s Department Datuk Seri Dr. Ahmad Zahid Hamidi and the Malacca Chief Minister Datuk Mohd Ali Rustam, of their decision or interest to contest for the Umno Deputy President’s post before it falls vacant is very eloquent testimony that Abdullah has ceased to exist in their political radar well before his Oct. 9 announcement.
Clearly, Abdullah has already been ousted from the mainstream Umno currents and relegated to the periphery of Umno politics although he is still incumbent Umno President and Prime Minister. How fast the powerful have fallen!
But will Abdullah drop a bombshell of a surprise in his “before Oct. 9” announcement – as former Prime Minister Tun Dr. Mahathir Mohamad seems to think, when he said today that he does not believe that Abdullah intends to announce his departure before the start of Umno divisional meetings on Oct 9.
Mahathir said: “He likes to change his position, so as long as he does not make the announcement I will not believe it.”
The bet however is on Abdullah throwing in the towel as a result of the immense pressures by the Umno leaders for him to scuttle his mid-June 2010 power transition plan.
I believe Abdullah will have to announce his intentions by Wednesday, which is probably the last Cabinet meeting which he could preside with dignity and authority – unless he is prepared to demonstrate that he will under no circumstances be a “lameduck” Prime Minister, whether defends the post of Umno President or not.
Australian Stocks extend slide on global rout
Source TheAge
Australian shares fall sharply after overseas markets dived overnight, while worries about global economic growth sent the Aussie dollar to a 3-year low.
The benchmark S&P/ASX200 index was down as much as 3.3%, or 148.5 points, to 4391.9 in early trading. It is the lowest point since October 31, 2005.
The Australian dollar traded at 72.18 US cents, after tumbling to as low as 69.85 US cents overnight, its weakest since September 2004, according to Bloomberg. It also plunged against the yen, dropping to as low as 70.32, its lowest since March 2003, before recovering some of the loss to trade recently around 73.60 yen.
A sharply weaker Aussie dollar, though, is unlikely to deter the Reserve Bank from cutting interest rates by half a percentage point later today, to stimulate the economy amid a slump in domestic demand.
The market is expecting the central bank's board to trim the interest rate to 6.5% from 7%, its largest rate cut since April 2001. The RBA's decision will be announced at 2.30pm.
Broad retreat
All sectors in the sharemarket were down, with energy the hardest hit. The energy sub-index plunged as much as 6%, and the materials sub-index retreated 3.8%. The financials lost as much as 3.2%.
ANZ Bank fell as much as 3%, or 55 cents, to $17.50, the Commonwealth Bank also lost 3%, or $1.32, to $42.68, NAB lost 3%, or 77 cents, to $24.78 and Westpac lost as much as 2.2%, or 50 cents, to $22.00.
Investment bank Macquarie Group fell as much as 6%, or $2.10, to $32.90, while smaller rival Babcock & Brown lost as much as 18%, or 29 cents, to $1.32.
In the resources sector, BHP Billiton was down as much as 3.3%, or 99 cents, to $28.80, while Rio Tinto lost as much as 3.5%, or $2.98, to $81.50. Fortescue Metals Group extended its recent rout, plunging 12%, or 51 cents, to $3.90.
Woodside Petroleum shaved the most off the ASX200, losing as much as 8%, or $3.93, to $45.07, despite oil prices gaining for the first day in five. Santos was down as much as 6.2%, or $1.06, to $16.14.
'Raw fear'
"What we're seeing now is irrational fear," said Peter Strachan of StockAnalysis. "It's raw fear."
"Once people get over that, from the Australian point of view, things aren't that bad."
Not only does Australia boast four of the highest-rated banks in the world, even the plunging Australia dollar has kept commodities prices buoyant in local-currency terms, he said.
"Certainly the falling Australian dollar will offset falls in Australian commodity prices," said Lachlan Shaw, commodities strategist at CommSec.
"Particularly for iron ore and coal price contracts which extend out to March 2009."
The effects of the plummeting Australian dollar depends on the company and their foreign exchange hedge book.
"The exact timimg depends of the benefit depends on each company's circumstance."
"But certainly a falling Australian dollar is good for exporters."
The price of nickel fell down US$900, to US$14,250 a tonne overnight. However, this morning in Australian dollars, it actually gained $304 to $19,880, Mr Strachan said.
Copper, zinc and aluminum recorded the same disparity in price movements, falling in US dollars but gaining in Australian currency.
"It's illogical to sell Australian metals stocks because at the end of the day, they have costs in Australian dollars."
"You're paying wages in Australian dollars and getting paid in Australian dollars."
Gold miners were mixed, with Lihir up as much as 1.6%, or 4 cents, to $2.55, and Newcrest down as much as 7.3%, or $1.94, to $24.50.
Read more here.
Australian shares fall sharply after overseas markets dived overnight, while worries about global economic growth sent the Aussie dollar to a 3-year low.
The benchmark S&P/ASX200 index was down as much as 3.3%, or 148.5 points, to 4391.9 in early trading. It is the lowest point since October 31, 2005.
The Australian dollar traded at 72.18 US cents, after tumbling to as low as 69.85 US cents overnight, its weakest since September 2004, according to Bloomberg. It also plunged against the yen, dropping to as low as 70.32, its lowest since March 2003, before recovering some of the loss to trade recently around 73.60 yen.
A sharply weaker Aussie dollar, though, is unlikely to deter the Reserve Bank from cutting interest rates by half a percentage point later today, to stimulate the economy amid a slump in domestic demand.
The market is expecting the central bank's board to trim the interest rate to 6.5% from 7%, its largest rate cut since April 2001. The RBA's decision will be announced at 2.30pm.
Broad retreat
All sectors in the sharemarket were down, with energy the hardest hit. The energy sub-index plunged as much as 6%, and the materials sub-index retreated 3.8%. The financials lost as much as 3.2%.
ANZ Bank fell as much as 3%, or 55 cents, to $17.50, the Commonwealth Bank also lost 3%, or $1.32, to $42.68, NAB lost 3%, or 77 cents, to $24.78 and Westpac lost as much as 2.2%, or 50 cents, to $22.00.
Investment bank Macquarie Group fell as much as 6%, or $2.10, to $32.90, while smaller rival Babcock & Brown lost as much as 18%, or 29 cents, to $1.32.
In the resources sector, BHP Billiton was down as much as 3.3%, or 99 cents, to $28.80, while Rio Tinto lost as much as 3.5%, or $2.98, to $81.50. Fortescue Metals Group extended its recent rout, plunging 12%, or 51 cents, to $3.90.
Woodside Petroleum shaved the most off the ASX200, losing as much as 8%, or $3.93, to $45.07, despite oil prices gaining for the first day in five. Santos was down as much as 6.2%, or $1.06, to $16.14.
'Raw fear'
"What we're seeing now is irrational fear," said Peter Strachan of StockAnalysis. "It's raw fear."
"Once people get over that, from the Australian point of view, things aren't that bad."
Not only does Australia boast four of the highest-rated banks in the world, even the plunging Australia dollar has kept commodities prices buoyant in local-currency terms, he said.
"Certainly the falling Australian dollar will offset falls in Australian commodity prices," said Lachlan Shaw, commodities strategist at CommSec.
"Particularly for iron ore and coal price contracts which extend out to March 2009."
The effects of the plummeting Australian dollar depends on the company and their foreign exchange hedge book.
"The exact timimg depends of the benefit depends on each company's circumstance."
"But certainly a falling Australian dollar is good for exporters."
The price of nickel fell down US$900, to US$14,250 a tonne overnight. However, this morning in Australian dollars, it actually gained $304 to $19,880, Mr Strachan said.
Copper, zinc and aluminum recorded the same disparity in price movements, falling in US dollars but gaining in Australian currency.
"It's illogical to sell Australian metals stocks because at the end of the day, they have costs in Australian dollars."
"You're paying wages in Australian dollars and getting paid in Australian dollars."
Gold miners were mixed, with Lihir up as much as 1.6%, or 4 cents, to $2.55, and Newcrest down as much as 7.3%, or $1.94, to $24.50.
Read more here.
Dow dives below 10,000 on credit, recession fears
Source Reuters
NEW YORK (Reuters) - Stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.
The steep declines came in the first full session since the U.S. Congress approved a $700 billion bailout of the financial industry, as lending came to a virtual halt and investors shifted their focus to the crumbling outlook for the economy and profits.
But the market cut almost half its losses in the final hour of the session, as traders speculated the sell-off may trigger a coordinated global response to thaw credit markets. The Dow plummeted as much as 800.06 points -- a record intraday point drop for the blue-chip average -- as it slid 7.75 percent to its session low at 9,525.32. By the closing bell, though, the Dow had recovered 430.18 points to end down 3.6 percent. The S&P financial sector sub-index, which had earlier been down more than 8 percent, closed down 4.2 percent.
The energy sector skidded as the price of oil dropped to an 8-month low below $88 a barrel on expectations that a recession will further hamper global fuel demand.
Wall Street's drop was part of a breakneck global sell-off, which led to trading being halted in Russia, Brazil and Peru. The emergency rescue of two big European banks and a move by several European governments to guarantee bank deposits intensified fears that the credit crisis can not be contained.
"We're clearly in the panic zone now. We've tipped over from bear market to panic," said John Schloegel, vice president of investment strategies for Capital Cities Asset Management in Austin, Texas.
"We're past the bailout now and focused back on fundamentals again and the fundamentals don't look good. People are starting to come to grips with third-, fourth- quarter earnings. If the supertanker of the U.S. economy is at a complete standstill, which it might be, that has not been adequately discounted yet," he said.
The Dow Jones industrial average fell 369.88 points, or 3.58 percent, to 9,955.50. It was the first time the Dow closed below 10,000 since October 2004.
Read more here.
NEW YORK (Reuters) - Stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.
The steep declines came in the first full session since the U.S. Congress approved a $700 billion bailout of the financial industry, as lending came to a virtual halt and investors shifted their focus to the crumbling outlook for the economy and profits.
But the market cut almost half its losses in the final hour of the session, as traders speculated the sell-off may trigger a coordinated global response to thaw credit markets. The Dow plummeted as much as 800.06 points -- a record intraday point drop for the blue-chip average -- as it slid 7.75 percent to its session low at 9,525.32. By the closing bell, though, the Dow had recovered 430.18 points to end down 3.6 percent. The S&P financial sector sub-index, which had earlier been down more than 8 percent, closed down 4.2 percent.
The energy sector skidded as the price of oil dropped to an 8-month low below $88 a barrel on expectations that a recession will further hamper global fuel demand.
Wall Street's drop was part of a breakneck global sell-off, which led to trading being halted in Russia, Brazil and Peru. The emergency rescue of two big European banks and a move by several European governments to guarantee bank deposits intensified fears that the credit crisis can not be contained.
"We're clearly in the panic zone now. We've tipped over from bear market to panic," said John Schloegel, vice president of investment strategies for Capital Cities Asset Management in Austin, Texas.
"We're past the bailout now and focused back on fundamentals again and the fundamentals don't look good. People are starting to come to grips with third-, fourth- quarter earnings. If the supertanker of the U.S. economy is at a complete standstill, which it might be, that has not been adequately discounted yet," he said.
The Dow Jones industrial average fell 369.88 points, or 3.58 percent, to 9,955.50. It was the first time the Dow closed below 10,000 since October 2004.
Read more here.
Malaysian blogger pleads not guilty to sedition charges
Source Taipei Times
A popular Malaysian blogger yesterday pleaded not guilty to sedition over an article he wrote that linked the deputy prime minister and his wife to the murder of a Mongolian woman.
Raja Petra Kamaruddin, founder of the popular Malaysia Today site that frequently airs criticism of government leaders, has also been held in detention since August under tough internal security laws.
Najib, who is expected to replace Malaysian Prime Minister Abdullah Ahmad Badawi as the country’s next leader, has denied any involvement in the 2006 murder of 28-year-old Altantuya Shaariibuu.
Najib’s close friend, Abdul Razak Baginda, is on trial for abetting the murder, and two police officers from a unit that guards the prime minister and his deputy have been charged with the killing.
Raja Petra, 58, pleaded not guilty to the sedition charge lodged over an article published in April entitled “Let’s Send the Altantuya Murderers to Hell.”
“I claim trial,” a tired-looking Raja Petra told the court.
Lawyers said that Malaysia’s Sedition Act, a relic from British colonial times, has historically been used to prevent uprising against the leadership, as well as disharmony among the people.
Raja Petra’s wife, Marina Lee Abdullah, said he would not be cowed into silence, and urged the government to abandon its use of the Internal Security Act (ISA) which allows for detention without trial.
“He is not giving up. He is not a threat to security. If he has done wrong, charge him in court. Do not detain him under the ISA,” she told reporters.
“What’s wrong in exposing leaders who indulge in corruption? Are we supposed to remain silent?” she said.
About three dozen supporters gathered outside the court, wearing T-shirts with slogans such as “I am with RPK,” “Free RPK,” and “No to ISA.”
The ISA, which human rights groups have pushed to have abolished, allows for renewable two-year periods of detention without trial and is normally used against terrorism suspects.
If convicted of sedition, Raja Petra faces a three-year jail term.
The hearing will continue at least until the end of the week and the court will then decide whether the case goes to trial.
A popular Malaysian blogger yesterday pleaded not guilty to sedition over an article he wrote that linked the deputy prime minister and his wife to the murder of a Mongolian woman.
Raja Petra Kamaruddin, founder of the popular Malaysia Today site that frequently airs criticism of government leaders, has also been held in detention since August under tough internal security laws.
Najib, who is expected to replace Malaysian Prime Minister Abdullah Ahmad Badawi as the country’s next leader, has denied any involvement in the 2006 murder of 28-year-old Altantuya Shaariibuu.
Najib’s close friend, Abdul Razak Baginda, is on trial for abetting the murder, and two police officers from a unit that guards the prime minister and his deputy have been charged with the killing.
Raja Petra, 58, pleaded not guilty to the sedition charge lodged over an article published in April entitled “Let’s Send the Altantuya Murderers to Hell.”
“I claim trial,” a tired-looking Raja Petra told the court.
Lawyers said that Malaysia’s Sedition Act, a relic from British colonial times, has historically been used to prevent uprising against the leadership, as well as disharmony among the people.
Raja Petra’s wife, Marina Lee Abdullah, said he would not be cowed into silence, and urged the government to abandon its use of the Internal Security Act (ISA) which allows for detention without trial.
“He is not giving up. He is not a threat to security. If he has done wrong, charge him in court. Do not detain him under the ISA,” she told reporters.
“What’s wrong in exposing leaders who indulge in corruption? Are we supposed to remain silent?” she said.
About three dozen supporters gathered outside the court, wearing T-shirts with slogans such as “I am with RPK,” “Free RPK,” and “No to ISA.”
The ISA, which human rights groups have pushed to have abolished, allows for renewable two-year periods of detention without trial and is normally used against terrorism suspects.
If convicted of sedition, Raja Petra faces a three-year jail term.
The hearing will continue at least until the end of the week and the court will then decide whether the case goes to trial.
Malaysian Court Tries Blogger on Sedition Charges
Source VOA News
A popular Malaysian blogger is on trial on sedition charges for allegedly implying the deputy prime minister was involved in the murder of a Mongolian woman.
Raja Petra Kamaruddin denies wrongdoing. He appeared in court on the first day of his trial in Kuala Lumpur Monday.
The sedition charges stem from an article Raja Petra published in April on his anti-government news Web site "Malaysia Today."
The article titled "Let's Send the Altantuya Murderers to Hell" allegedly links Deputy Prime Minister Najib Razak and his wife, Rosmah Mansor, to the 2006 killing of 26-year-old Altantuya Shaariibuu of Mongolia.
Najib denies he was involved in the crime. His close associate is charged with abetting the murder, and two policemen are accused of killing the woman.
Raja Petra is already in jail on a separate case under the Internal Security Act, an anti-terrorism law that allows indefinite detention without trial.
If convicted, Raja Petra faces up to three years in jail.
Malaysia's opposition and international human rights advocates have condemned the Malaysian government's use of the Internal Security Act. They say the government is using the law as a repressive measure to control dissent.
Malaysian blogs are considered an alternative source of information from the mainstream media, which are controlled by political parties or closely linked to them.
RPK sedition trial begins in PJ
Source MP KitSiang
In Petaling Jaya sessions court now where the celebrated RPK sedition trial has just started.
Big crowd of RPK supporters and well-wishers including household names in Malaysian blogosphere like Haris Ibrahim, Zorro and delCapo in court but space too limited to accommodate even a substantial number of people who had to overflow outside.
RPK in the dock looks his devilishly irreverent best ready to take on the powers-that-be although he has just become a freshie Internal Security Act detainee.
Let all bloggers and Malaysians concerned about human rights and Internet freedom come to PJ court to support RPK.
In Petaling Jaya sessions court now where the celebrated RPK sedition trial has just started.
Big crowd of RPK supporters and well-wishers including household names in Malaysian blogosphere like Haris Ibrahim, Zorro and delCapo in court but space too limited to accommodate even a substantial number of people who had to overflow outside.
RPK in the dock looks his devilishly irreverent best ready to take on the powers-that-be although he has just become a freshie Internal Security Act detainee.
Let all bloggers and Malaysians concerned about human rights and Internet freedom come to PJ court to support RPK.
Hope for students to pursue tertiary education
Source TheStar
KOTA KINABALU: More than 700 students have been given a second chance at pursuing tertiary education with the help of the non-profit HOPE or Higher Opportunities For Private Education programme.
HOPE programme adviser Datuk Seri Ong Tee Keat said that since its inception in December last year, students who failed to get into public universities were given a second chance at 12 selected public universities at subsidised rates.
Talking to local community leaders in Sabah about the programme, Ong said only 40 students from Sabah and Sarawak had taken part in the programme, which was available to all Malaysians.
The courses offered are approved by both the Higher Education Ministry and the Malaysian Qualifications Agency (MQA), Ong said, adding that the subsidised rates for the courses were comparable with fees at public universities.
For more information or to download application forms, go to http://www.hope.org.my .
KOTA KINABALU: More than 700 students have been given a second chance at pursuing tertiary education with the help of the non-profit HOPE or Higher Opportunities For Private Education programme.
HOPE programme adviser Datuk Seri Ong Tee Keat said that since its inception in December last year, students who failed to get into public universities were given a second chance at 12 selected public universities at subsidised rates.
Talking to local community leaders in Sabah about the programme, Ong said only 40 students from Sabah and Sarawak had taken part in the programme, which was available to all Malaysians.
The courses offered are approved by both the Higher Education Ministry and the Malaysian Qualifications Agency (MQA), Ong said, adding that the subsidised rates for the courses were comparable with fees at public universities.
For more information or to download application forms, go to http://www.hope.org.my .
I will not quit post, says SAPP's Tan
Source NST
KOTA KINABALU: Deputy Chief Minister Datuk Raymond Tan Shu Kiah reiterated that he will not be resigning or giving up his position despite calls from MCA vice-president Datuk Donald Lim to do so.
Tan said he was leaving his fate in the hands of the state BN leadership.
"It is basically a statement from an MCA candidate. I accept his statement with respect. As a BN component party, we have our views and I think some of them have their own agenda.
"As far as I am concerned, my position is already been made clear for quite some time now. I leave everything to the state government to decide," he said.
KOTA KINABALU: Deputy Chief Minister Datuk Raymond Tan Shu Kiah reiterated that he will not be resigning or giving up his position despite calls from MCA vice-president Datuk Donald Lim to do so.
Tan said he was leaving his fate in the hands of the state BN leadership.
"It is basically a statement from an MCA candidate. I accept his statement with respect. As a BN component party, we have our views and I think some of them have their own agenda.
"As far as I am concerned, my position is already been made clear for quite some time now. I leave everything to the state government to decide," he said.
Too many want to be Umno No 2
Source NST
THERE is a Malay proverb which goes like this: Ukur baju di badan sendiri.
In the context of the increasing number of Umno leaders who are aspiring to contest the party's deputy presidency, it roughly translates as one should assess his own capabilities before even thinking of declaring his intention to vie for the coveted position.
It appears that some Umno leaders have the impression that the contest for the party's number two position merely involves putting themselves forward to fill a slot that will soon be vacant.
They are offering themselves because Datuk Seri Najib Razak is not expected to seek re-election as deputy president in the March party election, since he has been slated -- some would say pushed -- to go for the post of party president, on the assumption that Datuk Seri Abdullah Ahmad Badawi would be willing to give up his position.
Abdullah is expected to announce his decision whether to seek re-election or not before the divisions begin holding their annual meetings on Thursday.
Many senior party leaders have said that Abdullah had indicated he was not interested in contesting in the March party polls.
The recent announcements and indications of interest in the deputy president's post have had many people inside and outside Umno shaking their heads in disbelief.
Minister in the Prime Minister's Department and supreme council member Datuk Ahmad Zahid Hamidi, Malacca Chief Minister and party vice-president Datuk Seri Mohd Ali Rustam and Pulai member of Parliament Datuk Nur Jazlan Mohamed have, directly or indirectly, offered themselves.
But most of the divisions seem to be in favour of the Najib-Muhyiddin team.
Party vice-president Tan Sri Muhyiddin Yassin, who is also the International Trade and Industry Minister, has yet to announce whether he is going for the deputy president's post.
Another leader who appears to be interested in the post is party information chief and Rural Development Minister Tan Sri Muhammad Muhamad Taib.
Other names being bandied about so far include Foreign Minister Datuk Seri Rais Yatim and former Negri Sembilan menteri besar Tan Sri Isa Samad.
The list seems to be getting longer by the day. It makes one wonder whether Umno really does have that many leaders who are prime minister material.
The process of selecting the party's deputy president is no trivial matter because, since independence, the Umno deputy presidency had been linked to the post of deputy prime minister.
This means that, in the absence of the prime minister, the person who holds this post has to be able to take charge of the country.
He has to possess far more than just grassroots support or good public relations skills.
Besides being able to govern, he also has to have a whole range of world-class skills, including being a consummate diplomat and a great communicator.
"The number two must also be fit to be number one. Whether he eventually becomes number one or not, is another matter.
"In Umno, when delegates choose the number two, he is regarded as the successor," says former Umno secretary-general Tan Sri Sabbaruddin Chik.
A former senior party leader believes most of the names bandied about will not even fulfil the first test, which is the 20 per cent nominations quota requirement to contest.
"Some of the aspiring candidates know they are either novices or do not fit the bill at all.
"Maybe they are using their announcements as a bargaining chip to contest one of the vice-president's posts," he said.
Umno's 191 divisions have to take many things into consideration when they name their candidate for the deputy presidency.
So, before any more leaders jump on the bandwagon by latching on to the cliche that offering to contest means democracy is alive in Umno, they should stop and think again.
Those who argue that it is the members' right to contest any post in the party are not wrong.
But it would be wise for Umno members to admit that the posts of president and deputy president are not meant for any Tom, Dick and Harry.
The onus is on those aspiring to contest to assess their capabilities to avoid wasting a lot of energy and resources. It is left to the party divisions to ensure that only the cream get to contest.
THERE is a Malay proverb which goes like this: Ukur baju di badan sendiri.
In the context of the increasing number of Umno leaders who are aspiring to contest the party's deputy presidency, it roughly translates as one should assess his own capabilities before even thinking of declaring his intention to vie for the coveted position.
It appears that some Umno leaders have the impression that the contest for the party's number two position merely involves putting themselves forward to fill a slot that will soon be vacant.
They are offering themselves because Datuk Seri Najib Razak is not expected to seek re-election as deputy president in the March party election, since he has been slated -- some would say pushed -- to go for the post of party president, on the assumption that Datuk Seri Abdullah Ahmad Badawi would be willing to give up his position.
Abdullah is expected to announce his decision whether to seek re-election or not before the divisions begin holding their annual meetings on Thursday.
Many senior party leaders have said that Abdullah had indicated he was not interested in contesting in the March party polls.
The recent announcements and indications of interest in the deputy president's post have had many people inside and outside Umno shaking their heads in disbelief.
Minister in the Prime Minister's Department and supreme council member Datuk Ahmad Zahid Hamidi, Malacca Chief Minister and party vice-president Datuk Seri Mohd Ali Rustam and Pulai member of Parliament Datuk Nur Jazlan Mohamed have, directly or indirectly, offered themselves.
But most of the divisions seem to be in favour of the Najib-Muhyiddin team.
Party vice-president Tan Sri Muhyiddin Yassin, who is also the International Trade and Industry Minister, has yet to announce whether he is going for the deputy president's post.
Another leader who appears to be interested in the post is party information chief and Rural Development Minister Tan Sri Muhammad Muhamad Taib.
Other names being bandied about so far include Foreign Minister Datuk Seri Rais Yatim and former Negri Sembilan menteri besar Tan Sri Isa Samad.
The list seems to be getting longer by the day. It makes one wonder whether Umno really does have that many leaders who are prime minister material.
The process of selecting the party's deputy president is no trivial matter because, since independence, the Umno deputy presidency had been linked to the post of deputy prime minister.
This means that, in the absence of the prime minister, the person who holds this post has to be able to take charge of the country.
He has to possess far more than just grassroots support or good public relations skills.
Besides being able to govern, he also has to have a whole range of world-class skills, including being a consummate diplomat and a great communicator.
"The number two must also be fit to be number one. Whether he eventually becomes number one or not, is another matter.
"In Umno, when delegates choose the number two, he is regarded as the successor," says former Umno secretary-general Tan Sri Sabbaruddin Chik.
A former senior party leader believes most of the names bandied about will not even fulfil the first test, which is the 20 per cent nominations quota requirement to contest.
"Some of the aspiring candidates know they are either novices or do not fit the bill at all.
"Maybe they are using their announcements as a bargaining chip to contest one of the vice-president's posts," he said.
Umno's 191 divisions have to take many things into consideration when they name their candidate for the deputy presidency.
So, before any more leaders jump on the bandwagon by latching on to the cliche that offering to contest means democracy is alive in Umno, they should stop and think again.
Those who argue that it is the members' right to contest any post in the party are not wrong.
But it would be wise for Umno members to admit that the posts of president and deputy president are not meant for any Tom, Dick and Harry.
The onus is on those aspiring to contest to assess their capabilities to avoid wasting a lot of energy and resources. It is left to the party divisions to ensure that only the cream get to contest.
RPK’s wife: It’s about the detention, not the food
Source TheStar
TAIPING: The detention of Malaysia Today editor Raja Petra Kamarudin under the Internal Security Act (ISA) should not be sidetracked and turned into an issue concerning food served at Kamunting.
“The issue here is not the food. You have detained him under the ISA although you have already charged him with sedition.”
“The focus is: why the detention?” Raja Petra’s wife Marina Lee Abdullah said yesterday after visiting her husband.
She was responding to Home Minister Datuk Seri Syed Hamid Albar’s call to Raja Petra to inform the authorities if the detainee could not stomach the food served at the camp. However, she said it would be good if the camp authorities could give her husband dates that did not have weevils.
Marina said that Raja Petra would be attending his sedition trial at the Sessions Court in Petaling Jaya tomorrow.
During her 45-minute visit, Marina Lee said she spoke to Raja Petra, who is under solitary confinement, over a telephone and could only see him through a glass screen. He is allowed out of his cell from 7am to 7pm but confined to the block where his cell is located and not allowed to mingle with other detainees, Marina said.
She added that she was not allowed to give him home-cooked food during the visit but could pass him three books per visit.
On what he had to say to his readers, Marina Lee said her husband urged his readers to keep supporting the website, adding that the website was now on autopilot.
TAIPING: The detention of Malaysia Today editor Raja Petra Kamarudin under the Internal Security Act (ISA) should not be sidetracked and turned into an issue concerning food served at Kamunting.
“The issue here is not the food. You have detained him under the ISA although you have already charged him with sedition.”
“The focus is: why the detention?” Raja Petra’s wife Marina Lee Abdullah said yesterday after visiting her husband.
She was responding to Home Minister Datuk Seri Syed Hamid Albar’s call to Raja Petra to inform the authorities if the detainee could not stomach the food served at the camp. However, she said it would be good if the camp authorities could give her husband dates that did not have weevils.
Marina said that Raja Petra would be attending his sedition trial at the Sessions Court in Petaling Jaya tomorrow.
During her 45-minute visit, Marina Lee said she spoke to Raja Petra, who is under solitary confinement, over a telephone and could only see him through a glass screen. He is allowed out of his cell from 7am to 7pm but confined to the block where his cell is located and not allowed to mingle with other detainees, Marina said.
She added that she was not allowed to give him home-cooked food during the visit but could pass him three books per visit.
On what he had to say to his readers, Marina Lee said her husband urged his readers to keep supporting the website, adding that the website was now on autopilot.
Shahrir: I’m too old for top Umno posts
Source TheStar
JOHOR BARU: Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said that it was too late for him to contest for the top posts in Umno, citing his age.
Shahrir, 58, however said that he would still offer himself for a post in the Supreme Council, a position he has held since 1999.
“I feel that it is too late for me to go for the top posts at my age. I can still offer myself for the lower posts,” he said, adding that he believed position was immaterial as it was still possible to serve the community while holding a “lower post.”
Shahrir, who is the Johor Baru Member of Parliament, said that at times it was better to be a division chief because then one kept close to the grassroots and could better understand their problems.
Umno was at a crossroads now and it was important for a “generational change” to ensure continued support for the party, he said at a press conference after hosting a Hari Raya open house at the Dewan Kampung Melayu Majidee here.
He said that Umno had too long been viewed as a bureaucratic party which placed emphasis on seniority and hierarchy.
“Some say that the problem with Umno is that it is seen as a party that is led by the older members,” he said adding that it was important for political parties to be constantly injected with new blood.
JOHOR BARU: Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said that it was too late for him to contest for the top posts in Umno, citing his age.
Shahrir, 58, however said that he would still offer himself for a post in the Supreme Council, a position he has held since 1999.
“I feel that it is too late for me to go for the top posts at my age. I can still offer myself for the lower posts,” he said, adding that he believed position was immaterial as it was still possible to serve the community while holding a “lower post.”
Shahrir, who is the Johor Baru Member of Parliament, said that at times it was better to be a division chief because then one kept close to the grassroots and could better understand their problems.
Umno was at a crossroads now and it was important for a “generational change” to ensure continued support for the party, he said at a press conference after hosting a Hari Raya open house at the Dewan Kampung Melayu Majidee here.
He said that Umno had too long been viewed as a bureaucratic party which placed emphasis on seniority and hierarchy.
“Some say that the problem with Umno is that it is seen as a party that is led by the older members,” he said adding that it was important for political parties to be constantly injected with new blood.
Guidelines for employing students, civil servants
Source TheStar
KLANG: The Human Resources Ministry is formulating guidelines for employers who hire students and civil servants on a part-time basis.
Human Resources Minister Datuk Dr S. Subramaniam said Social Security Organisation (Socso) and Employees Provident Fund (EPF) contributions for these part-time workers would be included in the guidelines.
According to Dr Subramaniam the government had announced about a month ago that university students and civil servants could acquire part-time employment provided they received permission to do so by their departments and institutions.
He said his ministry had also set-up a unit under its Labour Department to look into formulating the guidelines as well as other necessary provisions for part-timers.
“There are various forms of part-time workers and the ministry will study this thoroughly and come up with very clear guidelines for employers and employees,” he told reporters after launching a Work Ethics Seminar organised by his ministry for the Indian community in Kapar near here.
KLANG: The Human Resources Ministry is formulating guidelines for employers who hire students and civil servants on a part-time basis.
Human Resources Minister Datuk Dr S. Subramaniam said Social Security Organisation (Socso) and Employees Provident Fund (EPF) contributions for these part-time workers would be included in the guidelines.
According to Dr Subramaniam the government had announced about a month ago that university students and civil servants could acquire part-time employment provided they received permission to do so by their departments and institutions.
He said his ministry had also set-up a unit under its Labour Department to look into formulating the guidelines as well as other necessary provisions for part-timers.
“There are various forms of part-time workers and the ministry will study this thoroughly and come up with very clear guidelines for employers and employees,” he told reporters after launching a Work Ethics Seminar organised by his ministry for the Indian community in Kapar near here.
Khairy firm on Umno Youth chief bid
Source TheStar
REMBAU: Umno Youth deputy chief Khairy Jamaluddin will go ahead and contest the top post in the wing even if the party president decides not to defend his position during the party polls next March.
Khairy, who is also Rembau MP, said although Datuk Seri Abdullah Ahmad Badawi was his father-in-law, he had never relied on Abdullah’s position to garner support.
“I have never used my father-in-law’s influence for personal gain. I will be banking on my record as deputy chief for the past four years and for the party work that I have done,” he told reporters Sunday when met at his Hari Raya open house at Kg Gadong near here. Also present was his wife Nori Abdullah.
“The Youth will decide who they want as their leader.”
On Sept 26, Abdullah had said that he would decide by Thursday -- when the 191 Umno divisions start nominating leaders for the top party posts -- whether he would defend his position.
Khairy rubbished claims by critics that he was banking on his ties with Abdullah to win the wing’s top post, adding he had the credentials to lead including being campaign director for the Barisan Nasional Youth in several by-elections.
He also hoped party members would not resort to money politics as this would destroy the party.
REMBAU: Umno Youth deputy chief Khairy Jamaluddin will go ahead and contest the top post in the wing even if the party president decides not to defend his position during the party polls next March.
Khairy, who is also Rembau MP, said although Datuk Seri Abdullah Ahmad Badawi was his father-in-law, he had never relied on Abdullah’s position to garner support.
“I have never used my father-in-law’s influence for personal gain. I will be banking on my record as deputy chief for the past four years and for the party work that I have done,” he told reporters Sunday when met at his Hari Raya open house at Kg Gadong near here. Also present was his wife Nori Abdullah.
“The Youth will decide who they want as their leader.”
On Sept 26, Abdullah had said that he would decide by Thursday -- when the 191 Umno divisions start nominating leaders for the top party posts -- whether he would defend his position.
Khairy rubbished claims by critics that he was banking on his ties with Abdullah to win the wing’s top post, adding he had the credentials to lead including being campaign director for the Barisan Nasional Youth in several by-elections.
He also hoped party members would not resort to money politics as this would destroy the party.
Move ISA detention camp out of Perak
Source TheStar
BIDOR: The Perak government wants to get rid of the Kamunting detention centre from the state.
State executive councillor A. Sivanesan said he would look into the legal avenues and land legislation to see how the Pakatan Rakyat-led state could reclaim the land alienated to the Federal Government to build the camp.
The state would look into the Land Acquisition Act to see how it could order the Barisan Nasional Government to move the camp out.
Sivanesan suggested the detention centre be relocated to Barisan Nasional strongholds such as Pahang or Johor.
“Pakatan is against the Internal Security Act (ISA) and the camp is in Kamunting, Taiping, Perak.
“If they (Barisan) are not going to abolish the ISA, then move out the camp and give us back the land,” he said Sunday after meeting orang asli (aborigines) at Kampung Chang Sungai Gepai, about 70km from Ipoh.
However, Sivanesan said he had yet to bring up the idea at the weekly state executive council meeting.
BIDOR: The Perak government wants to get rid of the Kamunting detention centre from the state.
State executive councillor A. Sivanesan said he would look into the legal avenues and land legislation to see how the Pakatan Rakyat-led state could reclaim the land alienated to the Federal Government to build the camp.
The state would look into the Land Acquisition Act to see how it could order the Barisan Nasional Government to move the camp out.
Sivanesan suggested the detention centre be relocated to Barisan Nasional strongholds such as Pahang or Johor.
“Pakatan is against the Internal Security Act (ISA) and the camp is in Kamunting, Taiping, Perak.
“If they (Barisan) are not going to abolish the ISA, then move out the camp and give us back the land,” he said Sunday after meeting orang asli (aborigines) at Kampung Chang Sungai Gepai, about 70km from Ipoh.
However, Sivanesan said he had yet to bring up the idea at the weekly state executive council meeting.
MIC will not push for Hindraf 5 release
Source NST
IPOH: MIC president Datuk Seri S. Samy Vellu said the party would not push the home minister to meet a deadline for the release of the five Hindu Rights Action Force (Hindraf) leaders.
Asked whether the Hindraf leaders would be released before Deepavali on Oct 27, Samy Vellu said: "We will ask for an early release, but ... we will not put any pressure."
He said the MIC would continue to raise the issue with the prime minister, the deputy prime minister and the home minister, but the decision was up to Home Minister Datuk Seri Syed Hamid Albar.
Samy Vellu said after a meeting on the rebranding of the party that he hoped to meet Syed Hamid next week to discuss the release of the men.
The five Hindraf leaders, Kota Alam Shah state assemblyman M. Manoharan, lawyers R. Kengadharan, V. Ganabatirau, P. Uthayakumar and Hindraf coordinator K. Vasantha Kumar, have been in detention under the Internal Security Act since Dec 13.
Samy Vellu has been calling for their release since March 30.
In Kuala Lumpur, a Hindraf spokesman said they appreciated the efforts of Samy Vellu and other Indian groups to obtain the release of its five leaders.
But he said, Samy Vellu should keep out of Hindraf's internal affairs, stop belittling the organisation's struggle for the Indian community and stop criticising its leaders .
V. Papparaidu, Ganabatirau's brother, said during his visit to the Kamunting detention centre last week his brother had said that they were confident that once they were out, they would be able to sort out whatever internal problems Hindraf had and consolidate its leadership.
On Friday, Samy Vellu had criticised a group of Hindraf members for their behaviour at the Hari Raya open house of the prime minister and cabinet members at the Putra Word Trade Centre on Oct 1.
He said they may have made it more difficult for MIC to secure the release of the five Hindraf leaders.
Samy Vellu said Hindraf leaders, such as London-based P. Waytha- moorthy and national coordinator, R.S. Thanenthiran, had their own agenda and did not appear interested in getting the Hindraf five released.
Thanenthiran said Samy Vellu was "hurling accusations against Hindraf in a desperate attempt to become the hero of the Indian community".
"We have not forgotten that this is the same man who once proclaimed that he had suggested arresting the Hindraf leaders under the ISA. We want to know what his agenda is in seeking the release of our leaders."
Asked why Hindraf did not attend Prime Minister Datuk Seri Abdullah Ahmad Badawi's open house in Kepala Batas yesterday, Thanenthiran said Hindraf "did not want to be insulted again".
"Despite our good intentions, senior ministers and some non-governmental organisations distorted and misinterpreted our action. It is our culture to even welcome enemies who visit us, but to avoid any more insults we decided to skip the Kepala Batas open house."
MIC veteran K.P. Samy called on Hindraf to work together with the MIC, MCA, PPP, Gerakan and IPF to seek the release of its five leaders.
IPOH: MIC president Datuk Seri S. Samy Vellu said the party would not push the home minister to meet a deadline for the release of the five Hindu Rights Action Force (Hindraf) leaders.
Asked whether the Hindraf leaders would be released before Deepavali on Oct 27, Samy Vellu said: "We will ask for an early release, but ... we will not put any pressure."
He said the MIC would continue to raise the issue with the prime minister, the deputy prime minister and the home minister, but the decision was up to Home Minister Datuk Seri Syed Hamid Albar.
Samy Vellu said after a meeting on the rebranding of the party that he hoped to meet Syed Hamid next week to discuss the release of the men.
The five Hindraf leaders, Kota Alam Shah state assemblyman M. Manoharan, lawyers R. Kengadharan, V. Ganabatirau, P. Uthayakumar and Hindraf coordinator K. Vasantha Kumar, have been in detention under the Internal Security Act since Dec 13.
Samy Vellu has been calling for their release since March 30.
In Kuala Lumpur, a Hindraf spokesman said they appreciated the efforts of Samy Vellu and other Indian groups to obtain the release of its five leaders.
But he said, Samy Vellu should keep out of Hindraf's internal affairs, stop belittling the organisation's struggle for the Indian community and stop criticising its leaders .
V. Papparaidu, Ganabatirau's brother, said during his visit to the Kamunting detention centre last week his brother had said that they were confident that once they were out, they would be able to sort out whatever internal problems Hindraf had and consolidate its leadership.
On Friday, Samy Vellu had criticised a group of Hindraf members for their behaviour at the Hari Raya open house of the prime minister and cabinet members at the Putra Word Trade Centre on Oct 1.
He said they may have made it more difficult for MIC to secure the release of the five Hindraf leaders.
Samy Vellu said Hindraf leaders, such as London-based P. Waytha- moorthy and national coordinator, R.S. Thanenthiran, had their own agenda and did not appear interested in getting the Hindraf five released.
Thanenthiran said Samy Vellu was "hurling accusations against Hindraf in a desperate attempt to become the hero of the Indian community".
"We have not forgotten that this is the same man who once proclaimed that he had suggested arresting the Hindraf leaders under the ISA. We want to know what his agenda is in seeking the release of our leaders."
Asked why Hindraf did not attend Prime Minister Datuk Seri Abdullah Ahmad Badawi's open house in Kepala Batas yesterday, Thanenthiran said Hindraf "did not want to be insulted again".
"Despite our good intentions, senior ministers and some non-governmental organisations distorted and misinterpreted our action. It is our culture to even welcome enemies who visit us, but to avoid any more insults we decided to skip the Kepala Batas open house."
MIC veteran K.P. Samy called on Hindraf to work together with the MIC, MCA, PPP, Gerakan and IPF to seek the release of its five leaders.
PSM on membership drive
Source TheStar
KUALA LUMPUR: Parti Socialis Malaysia (PSM), which was registered as political party only two months ago, is embarking on a nationwide membership drive.
PSM president and Kota Damansara assemblyman Dr Nasir Hashim said the party also wanted to make sure its supporters were registered as members.
The party had previously claimed to have 10,000 members, mostly unregistered.
“We believe that after the March 8 general election, support towards the party is getting stronger,” he told reporters when met at the party’s Hari Raya open house on Sunday.
Dr Nasir also said that although PSM supported the Pakatan Rakyat opposition alliance, it had not joined the opposition pact as yet.
Besides Dr Nasir, PSM, which was registered as a political party on Aug 19 after numerous attempts since 1998, has one Member of Parliament, Dr D. Jayakumar (Sungai Siput).
KUALA LUMPUR: Parti Socialis Malaysia (PSM), which was registered as political party only two months ago, is embarking on a nationwide membership drive.
PSM president and Kota Damansara assemblyman Dr Nasir Hashim said the party also wanted to make sure its supporters were registered as members.
The party had previously claimed to have 10,000 members, mostly unregistered.
“We believe that after the March 8 general election, support towards the party is getting stronger,” he told reporters when met at the party’s Hari Raya open house on Sunday.
Dr Nasir also said that although PSM supported the Pakatan Rakyat opposition alliance, it had not joined the opposition pact as yet.
Besides Dr Nasir, PSM, which was registered as a political party on Aug 19 after numerous attempts since 1998, has one Member of Parliament, Dr D. Jayakumar (Sungai Siput).
Ghani: Up to divisions to decide on candidates
Source NST
MUAR: Johor Umno is leaving it to its divisions to decide on the candidates for nomination to the party's top posts at divisional meetings to be held over a month from Thursday, Johor Umno Liaison Committee chairman Datuk Abdul Ghani Othman said yesterday.
Ghani, who is also Johor menteri besar, said the committee would not take sides after finding that many leaders, including from Johor, intended to contest the top positions in the party elections in March next year.
"We will leave it to the divisional delegates to nominate candidates of their choice," he said after the Aidilfitri open house at his residence in Sungai Mati here.
So far, Minister in the Prime Minister's Department Datuk Seri Dr Ahmad Zahid Hamidi, who is an Umno supreme council member, and Malacca chief minister and Umno vice-president Datuk Mohd Ali Rustam have announced their intention to contest the post of deputy president.
International Trade and Industry Minister and Umno vice-president Tan Sri Muhyiddin Yassin and Rural and Regional Development Minister and Umno information chief Tan Sri Muhammad Muhammad Taib are expected to announce their intention to contest for that post after prime minister and Umno president Datuk Seri Abdullah Ahmad Badawi announces by Thursday whether he would seek re-election to the party's No 1 post.
MUAR: Johor Umno is leaving it to its divisions to decide on the candidates for nomination to the party's top posts at divisional meetings to be held over a month from Thursday, Johor Umno Liaison Committee chairman Datuk Abdul Ghani Othman said yesterday.
Ghani, who is also Johor menteri besar, said the committee would not take sides after finding that many leaders, including from Johor, intended to contest the top positions in the party elections in March next year.
"We will leave it to the divisional delegates to nominate candidates of their choice," he said after the Aidilfitri open house at his residence in Sungai Mati here.
So far, Minister in the Prime Minister's Department Datuk Seri Dr Ahmad Zahid Hamidi, who is an Umno supreme council member, and Malacca chief minister and Umno vice-president Datuk Mohd Ali Rustam have announced their intention to contest the post of deputy president.
International Trade and Industry Minister and Umno vice-president Tan Sri Muhyiddin Yassin and Rural and Regional Development Minister and Umno information chief Tan Sri Muhammad Muhammad Taib are expected to announce their intention to contest for that post after prime minister and Umno president Datuk Seri Abdullah Ahmad Badawi announces by Thursday whether he would seek re-election to the party's No 1 post.
'Lost' citizenship: Admin glitches will be corrected, assures Najib
Source NST
KOTA KINABALU: The government will not allow any of its citizens to be victimised by administrative glitches, Datuk Seri Najib Razak assured yesterday.
"Such administrative problems do not touch on policies. If there are any oversights, they will be corrected," he said.
The deputy prime minister said this when asked to comment on the case of 78-year-old Yong Lee Hua alias Piang Lin, who "lost" her citizenship after losing her MyKad.
Najib was here attending a Hari Raya gathering with the Sabah Barisan Nasional component parties, hosted by Chief Minister Datuk Seri Musa Aman.
Yong had claimed last week that the National Registration Department issued her an identity card for permanent residents after applying to replace her MyKad, which she lost to a pickpocket in February last year.
Her plight was highlighted when she approached Moyog assemblyman Donald Mojuntin, who also heads the Upko citizenship and security bureau, for a solution as she was unable to withdraw money from her accounts, transfer land to her children or travel.
Earlier, Najib also stressed on the need for BN members to change to meet the ever increasing needs of the people.
"Results in the (general) election were a clear message for the BN on the need to change," he said.
However, he noted that the component parties in Sabah, which he said was BN's "fixed deposit", remained intact to continue with the coalition's struggles.
"If we do not change, the people will 'change' us."
Najib later held a closed-door meeting with BN component party leaders.
KOTA KINABALU: The government will not allow any of its citizens to be victimised by administrative glitches, Datuk Seri Najib Razak assured yesterday.
"Such administrative problems do not touch on policies. If there are any oversights, they will be corrected," he said.
The deputy prime minister said this when asked to comment on the case of 78-year-old Yong Lee Hua alias Piang Lin, who "lost" her citizenship after losing her MyKad.
Najib was here attending a Hari Raya gathering with the Sabah Barisan Nasional component parties, hosted by Chief Minister Datuk Seri Musa Aman.
Yong had claimed last week that the National Registration Department issued her an identity card for permanent residents after applying to replace her MyKad, which she lost to a pickpocket in February last year.
Her plight was highlighted when she approached Moyog assemblyman Donald Mojuntin, who also heads the Upko citizenship and security bureau, for a solution as she was unable to withdraw money from her accounts, transfer land to her children or travel.
Earlier, Najib also stressed on the need for BN members to change to meet the ever increasing needs of the people.
"Results in the (general) election were a clear message for the BN on the need to change," he said.
However, he noted that the component parties in Sabah, which he said was BN's "fixed deposit", remained intact to continue with the coalition's struggles.
"If we do not change, the people will 'change' us."
Najib later held a closed-door meeting with BN component party leaders.
SABAH MYKAD SCANDAL: Filipino illegal, MP have same MyKad address
Source NST
KOTA KINABALU: The surname and address on his MyKad are the same as the ones belonging to Sepanggar member of parliament Datuk Eric Majimbun, but they are not related. Neither do they know each other.
The MyKad carries the name Jerome Majimbon and the address is Kampung Pomotodon, Jalan Kionsom, Inanam.
In Sabah, people are regarded as having the same surname despite a slight variation in spelling.
Majimbun said: "I was surprised because we don't have a relative with such a name and the people in Kampung Pomotodon are unaware of the existence of such a person in the village."
He found out that the man in question was a Filipino illegal immigrant whose real name is Jerom Maguil.
Majimbun wants answers from the Home Ministry and the National Registration Department (NRD) on how the man had obtained the MyKad bearing the number 560930-12-5739.
"I have written to the secretary-general of the Home Ministry but I have yet to receive a reply," he said yesterday.
He cited the case to support his contention that the issuance of fake MyKad in Sabah was rampant.
He said a constituent of his was also given permanent resident status despite being born in Sabah long before it had joined the federation of Mal-aysia.
"How is it possible that a Malaysian, who has been here for years and years, is denied a MyKad and citizenship and yet there are many cases of foreigners who obtain MyKad through dubious means?"
He said the government should set up a body to deal with issues related to dubious MyKad holders.
He said there were many discrepancies in the issuing of MyKad by the NRD, but nothing had been done to correct them. He said although the state government had set up a committee to look into the matter, it had not made a difference.
"The problem has been going on for more than 30 years. We should have a computerised monitoring system but, since it is too late, we should start at the beginning.
"A royal commission would be a good idea, but this has been rejected by the government."
"In Sabah, we have the Sabah Registration of Births and Deaths Ordinance 1953 which states that all late registrations have to be done in court proceedings through a first class magistrate. Has this really been done?"
Majimbun, who is deputy president of the Sabah Progressive Party which pulled out of Barisan Nasional, reiterated his call for a study on the 285 per cent growth in population in Sabah over 30 years. He heads the party's foreigners and MyKad issues bureau.
KOTA KINABALU: The surname and address on his MyKad are the same as the ones belonging to Sepanggar member of parliament Datuk Eric Majimbun, but they are not related. Neither do they know each other.
The MyKad carries the name Jerome Majimbon and the address is Kampung Pomotodon, Jalan Kionsom, Inanam.
In Sabah, people are regarded as having the same surname despite a slight variation in spelling.
Majimbun said: "I was surprised because we don't have a relative with such a name and the people in Kampung Pomotodon are unaware of the existence of such a person in the village."
He found out that the man in question was a Filipino illegal immigrant whose real name is Jerom Maguil.
Majimbun wants answers from the Home Ministry and the National Registration Department (NRD) on how the man had obtained the MyKad bearing the number 560930-12-5739.
"I have written to the secretary-general of the Home Ministry but I have yet to receive a reply," he said yesterday.
He cited the case to support his contention that the issuance of fake MyKad in Sabah was rampant.
He said a constituent of his was also given permanent resident status despite being born in Sabah long before it had joined the federation of Mal-aysia.
"How is it possible that a Malaysian, who has been here for years and years, is denied a MyKad and citizenship and yet there are many cases of foreigners who obtain MyKad through dubious means?"
He said the government should set up a body to deal with issues related to dubious MyKad holders.
He said there were many discrepancies in the issuing of MyKad by the NRD, but nothing had been done to correct them. He said although the state government had set up a committee to look into the matter, it had not made a difference.
"The problem has been going on for more than 30 years. We should have a computerised monitoring system but, since it is too late, we should start at the beginning.
"A royal commission would be a good idea, but this has been rejected by the government."
"In Sabah, we have the Sabah Registration of Births and Deaths Ordinance 1953 which states that all late registrations have to be done in court proceedings through a first class magistrate. Has this really been done?"
Majimbun, who is deputy president of the Sabah Progressive Party which pulled out of Barisan Nasional, reiterated his call for a study on the 285 per cent growth in population in Sabah over 30 years. He heads the party's foreigners and MyKad issues bureau.
Subscribe to:
Posts (Atom)
