Rising tides of currencies globally cause inflation, money worthless!

A PACKET of nasi lemak (rice cooked in coconut milk) with a fried egg costs around RM2 nowadays. I remember getting a similar packet (and in bigger portion) at RM1 ten years ago. It is a 100% price appreciation in ten years! My friends and I were jokingly saying that nasi lemak would be a good investment tool if it can be kept for ten years.

However, all of us know that nasi lemak is best served when it is fresh. It can never be kept for long despite its potential for value appreciation. In fact, its value will drop to zero as soon as it turns stale. And interestingly, the same situation applies to the money we hold today. Our currency can be as “perishable” as nasi lemak in this global money printing era if money is not produced for the right purpose and use in the right way and the right time.

The global economies have been embarking on expansionary monetary policies since the financial crisis broke out in 2008. Central banks around the world are printing money to support their economies and increase exports, with the United States as the primary instigator.

The Mighty Dollar

Since 2008, the Fed initiated several rounds of measure termed “Quantitative Easing”, which is literally known as an act of money printing. The Fed's balance sheet was about US$700bil (RM2.1 trillion) when the global financial crisis began; now it has more than tripled. With several countries' central banks including the European Central bank, the Bank of Japan and the Bank of England taking similar expansionary measures and encouraging lending, more than US$10 trillion (RM30.3 trillion) has been poured into the global economy since the crisis began.

While the global central banks have become addicted to open-ended easing and competed to weaken their currencies to boost economies, the impact of these measures to the global economy is not quantifiable or realised yet. However, basic economic theory tells us that when there is too much money chasing limited goods in the market, it will eventually spark inflation.

When money is created out of thin air, there is no fundamental support to the new money pumped into the economies. More money supply would only be good if the productivity is going up or in the other sense, when more products and value-added services are created. In the absence of good productivity, more and more money would not make people richer. Instead, it would only decrease the purchasing value of the printed notes.

Let's imagine a more simplified situation. For example, we used to purchase an apple for RM1. If the money supply doubled but the amount of apples available in the market remains, one apple will now costs us RM2 instead of RM1. Now, our money has halved its original value. If the central banks of the key economies keep flooding the global markets by printing more money, the scenario can only lead to the worst, i.e. hyperinflation.

This occurred in Germany after the First World War. Hyperinflation happened as the Weimar government printed banknotes in great quantities to pay for its war reparation. The value of the German banknote then fell since it was not supported in equal or greater terms by the country's production.

Flood of money

The sudden flood of money followed by a massive workers' strike, drove prices out of control. A loaf of bread which cost 250 marks in January 1923 jumped to 200 billion marks in November 1923. People collected wages with suitcases. Thieves would rather steal the suitcase instead of the money, and it was cheaper to light fire with money than with newspaper. The German currency was practically worthless during the hyperinflation period.

That scenario may seem incredible in today's context. Nevertheless, we should not downplay the severity of a global inflation should the current synchronised money printing push the economies of major countries to burst like a balloon in sequence.

When this scenario happens, people with savings and fixed income will likely be the hardest hit. To withstand the tide of inflation, the best defence is to invest in assets such as publicly traded shares, metal commodities like gold and silver and properties that can hedge against inflation.

Investing in any assets require in-depth research before embarking on one. Commodities and stock markets are liquid assets that can be bought and sold with relative ease, while properties are favoured as long-term investment.

With Malaysia's current economic and population growth, added with its still comparatively low property prices in the region, our primary and secondary market properties are good investment assets for investors to gain from the continuous capital appreciation that this industry is enjoying.

With the above as a backdrop, are property prices really going up globally?

Using the nasi lemak analogy, if we were to buy a RM100,000 medium-cost apartment 10 years ago, it would be equivalent to 100,000 packets of nasi lemak. Assuming it has doubled in price today, it would still be the equivalent of 100,000 packets of nasi lemak at RM2 today. It would seem to me that the true value of properties hasn't gone up, but that global currencies have just gotten cheaper.

FOOD FOR THOUGHT
By DATUK ALAN TONG

FIABCI Asia Pacific chairman Datuk Alan Tong has over 50 years of experience in property development.

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We need competent leaders!

Competent leader vital for Information, Communications and Culture Ministry 

The candidate should be someone well rounded, well experienced, not too old or too young

FOR some time now, there has been talk on whether culture is a good fit for the Information, Communications and Culture Ministry (MICC). Some believe culture would be better off parked under the Tourism Ministry.

Culture and tourism, to them, are lines out of the same song not quite jiving with communications or information.

Then, there is talk of some areas of duplication between MICC and the Science, Technology and Innovation Ministry (Mosti). Both should merge as there are common areas, it has been said.

These ministries aside, some folk have been lobbying that a new ministry, the Information, Communications and Technology (ICT) Ministry, be set up with the MICC being done away with.

All this talk has resurfaced now that Prime Minister Datuk Seri Najib Razak, fresh off his election win, is busy selecting candidates for his new Cabinet line-up that might be announced in the coming days.

There is certainly some overlap between Mosti and MICC, making sense for them to be merged into one entity. Arts, on the other hand, could be part of the Youth and Sports Ministry or spun off into a new ministry under Arts and Heritage.

It is not an easy decision, but whatever the outcome, one things is for sure Malaysia's Cabinet should not be bigger than China's, which has a population of 1.6 billion, as opposed to our 28 million.

Australia and Singapore have gone though the same phase that Malaysia is going through now in terms of merging and segregating its various ministries. In 2001, Singapore's Ministry of Communications and Information (MCI) was expanded to include Arts.

Over a decade later, the Arts and Heritage portfolios became a part of the culture ministry. At present, the role of the MCI is to oversee the development of the ICT, media and design sectors, public libraries and the government's information and public communications policies.

On a similar note, Australia expanded its Communications Ministry to include Arts in 1994. Four years later, the ministry expanded to include information technology (IT).

However, in 2007, Arts became a part of the Environment/Heritage Ministry. The Communications/IT Ministry was renamed as the Broadband, Communications and Digital Economy.

Even the United Nations has a specialised agency to deal with technology in the form of the International Telecommunication Union because the role of the Internet and broadband transcends all boundaries.

The vision of Malaysia's MICC is to be a pioneer in promoting the 1Malaysia Concept based on national principles to achieve a harmonious and gracious nation. The ministry's main aspiration is to enhance Malaysia as a global ICT hub in the region, to ensure information from all sources of media is accurate and precise and to preserve and promote Malaysia's heritage and culture to the world.

Culture preservation is vital in the era of the social media, but once there is widespread awareness, culture can be placed under the Arts, Culture and Heritage Ministry, or could even be one of the units under the Prime Minister's Department or the Tourism Ministry.

There are even suggestions that MICC be part of the Prime Minister's Department so that it would fall directly under the Prime Minister's purview. However, whether this is feasible remains to be seen.

Communications and information have become vital because of the digital era, and their role in Malaysia might need to be reviewed. Australia and Singapore felt the “need to change because of the need to redistribute and re-focus its ministerial workload to improve public communications and engagement for an increasingly diverse society in the age of social media and rapid technology progress”.

All this brings us to the next question: Who is best to lead the MICC?

There are many talented people out there, but the industry feels the choice of candidate should encompass someone “well rounded, well experienced, but not too old or too young”. The person, while having sound knowledge of Law and Economics, should also fulfil the most important criterion being savvy enough about the workings of the Internet and the new/social media.

The choice of candidate is important because there is no room for mistakes, unlike the blunders made in the past over spectrum allocation and technology choices. Most importantly, the candidate should not regress but rather, take the nation forward on the digital path.

Friday Reflections - By B.K. Sidhu

● Deputy news editor B K Sidhu has some candidates in mind, but they are not politicians.

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This is what the Malaysian Chinese want

This is what the Malaysian Chinese want

The Utusan Malaysia headline of May 7 posed an interesting and pertinent question of what more do the Chinese in Malaysia want. It is a pity that Utusan is unable to see that what the Chinese want is, in fact, what the educated urban Malaysian voter wants, regardless of race or religion. There are three important characteristics lacking in the Barisan of today.

Intelligent, courageous leadership

The Chinese comprise only 30 per cent of Malaysian voters, yet Pakatan Rakyat won 51 per cent of the total votes cast. By saying that the election result was because of the Chinese voters, the Barisan Nasional leadership demonstrates an inability to objectively face reality.

Barisan’s acceptance of Zulkifli Nordin as its direct Shah Alam candidate similarly shows a lack of intelligence and courage. Here is a lawyer who does not feel that dialogue and discussion can resolve matters, having forcefully disrupted a Law Society seminar a few years ago. He has vowed loyalty to, and then turned on, his previous political parties (PAS and PKR). He has publicly belittled an ancient religion with a million Malaysian followers.

UMNO making way for Ibrahim Ali to contest the Pasir Mas constituency is similarly bad judgement, showing its acceptance and approval of a crude man who prides himself with using vulgar words in public interviews.

Principled means acting in accordance with morality and showing recognition of right and wrong.

To give them such special honour and credit shows a lack of intelligent reasoning and an inability to stand up against the loud extremist faction of the party.

Attributing the election outcome to a “Chinese tsunami” is illogical in the face of concrete facts and data. PAS won an additional seven state seats in Selangor, all in Malay majority areas.

Lim Kit Siang could not have achieved a majority of over 14,000 votes in Gelang Patah without good support from Malays who form 35 per cent of the electorate there.

Similarly the UMNO-backed PERKASA extremists were conclusively rejected in Pasir Mas (96 per cent Malay) and in Shah Alam where Malays make up 70 per cent of the electorate.

To blindly spin the 2013 election outcome to suit its raced-based founding philosophy of 1947shows up a political party that wants to be stubbornly unwise. Unless UMNO’s leadership can find the courage to face facts, the party may become redundant and obsolete for the educated 21st century voter.

Respect for and recognition of rights

Academic studies have consistently shown that increased income brings more happiness and satisfaction only up to a certain point. When a society progresses out of poverty into middle class, increasing income does not increase satisfaction proportionately. It is the psychological aspects of living that produces a better quality of life.

Whatever the radiation scientists claim, the people of Bentong (45 per cent Malay, 44 per cent Chinese) will ask why a factory run by an Australian company is unsuitable for Australia or Damansara Heights but can be located in their backyard.

In 2008, Health Minister Liow won Bentong by over 12,000 votes. This year he retained Bentong with less than 400 votes against a political novice who is a green activist. The urban electorate, Chinese or Malay, seeks respect and recognition of their right to a safe living environment.

MCA contested in 37 parliamentary seats and managed to win seven in GE13.

In Penang, the 1 Malaysia Charity organisation hosted numerous concerts and dinners in support of Barisan candidates. At their functions, T-shirts, beer, hawker food and lucky draw gifts were given free.

Initially there was merriment and wonder at this new campaigning style; this then became anger and disgust when even cash incentives were handed out. The electorate felt they were treated with disrespect, as if their rights, dignity and vote were up for sale.

Numerous development issues had plagued the Penang DAP government in the months leading up to the election, and the increased majority they subsequently obtained can only be explained by the strong rejection what the other side represents. Money cannot buy happiness, and similarly, the urban electorate set out to show that money cannot buy their vote in Penang.

The urban electorate in Malaysia is obviously better off economically compared to the rural dwellers. They have reached a stage when extra economic incentives can no longer easily win their approval.

Instead they asked for respect, and an acknowledgement of their right to an inclusive, peaceful existence in the country. They seek recognition as a legitimate electorate with the right to choose the governing party. Blaming and insulting them for voting against the Barisan will only guarantee the DAP and Pakatan a brighter future.

Competent and efficient institutions

There is no doubt that relative to those who were once our equivalent, we Malaysians have fallen behind. The Singapore dollar which was equivalent to the ringgit in the 1970’s is today 2.5 times higher. Malaysia beat South Korea and Japan in the 1972 Olympic football qualifying rounds; today we are nowhere near these 2 World Cup Finals participating countries.

Malaysians have fallen behind in economy, education and sports.

Universiti Malaya had topped the list of universities passing the United States medical qualifying examination in 1969, ahead of Melbourne and Singapore University. In 2011, Universiti Malaya was ranked 401 out of the 500 universities in the Shanghai Jiao Tong University’s Academic Ranking of World Universities.

The educated, smart-phone holding, internet-surfing, urban voter is aware of world-wide trends and wants to experience the best that life can offer. When the governing party is unable to develop the country to its full potential, its popularity will drop.

As demonstrated by the Noble prize winning Dr Ivan Pavlov, animals respond to incentives, and man is no exception. A system that promotes those who agree with and pamper those in power while sidelining those working hard to pursue competency will breed inefficient malfunctioning institutions. Even those not under their direct employment will be affected by these incompetent institutions.

Malaysians want a competent and efficient institutions.

When the police force is politicised and crime rate increases, more money will have to be spent on personal and household security. Even Datuk Nazir Razak admitted that he had hesitated coming back to Malaysia because of concerns about his children’s education. When the middle class spends on private education or healthcare, votes for the governing party will drop.

Conclusion

The Chinese now make up only 25 per cent of Malaysia’s population and to be named as the cause of major developments in the country is to be hurtful to this minority and insulting to the majority. On the other hand, government statistics show that Malaysia’s urban population has increased from 62 per cent in 2000 to 71 per cent in 2010.

 No amount of rhetorical whitewashing can hide the fact that the poor performance of Barisan in the 2013 election is due to its failure to win the heart and mind of the urban voter. The faster it faces reality and move away from its obsolete race-based mindset, the better its prospects for the next electoral battle.

by Ong Hean Teik

* Dr Ong Hean Teik is a consultant cardiologist in Penang. He reads The Malaysian Insider.
* This is the personal opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insider.

Reblogged from Din Merican: the Malaysian DJ Blogger

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Apa Lagi Cina Mahu? Charge the racist! Thousands protest Malaysian election results

Apa Lagi Cina Mahu? Charge the racist! Thousands protest Malaysian election results

Utusan Malaysia published articles condemning the Malaysian Chinese with the headline ‘Apa lagi Cina Mahu?’ and Najib Tun Razak’s speech after the election stating the ‘Chinese Tsunami’ has further sparked agitation among Malaysian Chinese who have exercised their democratic right by supporting Pakatan Rakyat.

The Malaysian Chinese played a prominent role in development of Malaya since the Malacca days. The Chinese diaspora occurred from the 19th century to 1949. The major reason for Chinese emigration is because of starvation, war and political corruption in mainland China. The Chinese migrated to various parts of world as coolies to replace African slaves. A British Guinea planter quoted that the Chinese labourers are strong in their physique and eager to earn a living.

The Chinese in the past suffered because of the exploitation by the Europeans. The first wave of emigration occurred in 15th century during the Malacca sultanate. Diplomatic ties were established between China and Malacca and Sultan Mansur married Puteri Hang Li Po (subject still debated by historian). Puteri Hang Li Po was accompanied by a senior state minister and five hundred youths and maids.

The inheritors of these people, mostly from Fujian province, are called the Baba (men) and Nyonya (women) or Cina Peranakan. The culture integration between Malay and Chinese dates back from the 15th century. The Straits Chinese adopted the Malay culture into their lives in the context of language, food, clothing, etc. Most notable Peranakans are Tan Cheng Lock – founder and first president of the Malaysian Chinese Association (MCA), Tan Siew Sin – third President of MCA, Lee Kuan Yew – first Prime Minister of Singapore and Lee Hsien Loong – third Prime Minister of Singapore, son of Lee Kuan Yew.

In response to Ali Rustam’s comments published by Utusan Malaysia, based on historical facts, MCA was formed by Tun Tan Cheng Lock and he understands the cultural integration and unity between Chinese and Malay has been the core strength for the coalition. The founding father of Umno recognises the Chinese contribution to this country and forged ties with Chinese to build Malaya. On that note, as a leader you should recognise the contributions of a community that has worked along with other Malaysian.

If the Chinese community has rejected your leadership, accept your defeat and work on building your reputation back with the Chinese community. A mark of a true leader is his ability to accept defeat and prove to the people that he is a leader capable of handling the defeat. Mahathir and Lim Kit Siang have lost in the past. They did not blame anyone but took it as part of a democracy system and worked harder to win the hearts of the people. Please do not make any further racial remarks because it sends a wrong message to the people and the modern leadership in Malaysia requires a leader to lead based on liberal thoughts rather than communal thoughts.

Malaysian has progressed towards a multiracial political ideology instead of communal political ideology as introduced by the British. Being a former Chief Minister of Malacca, you should possess greater knowledge in Chinese-Malay relationship dating back to the 15th century and the progression of the two communities in building Malaysia. The common folk of Malaysia have moved on from the communal ideology to multiracial ideology.

As a politician, in agony of defeat, issuing an official statement of blaming a community does not promote harmony and is not in tandem with 1Malaysia programme introduced by your party. As a Malaysian, we desire for a leader to build a stronger bond between the communities not dismantling the ethnic relationship. On that note, please go back to the drawing board and rework on your leadership ideology.

According to Sir Frank Swettenham, K.C.M.G. (1850-1946) in his book, ‘British Malaya – An Account of the Origin and Progress of British Influence in Malaya’ stated that the Chinese played a major part in developing the economy of British Malaya. The following are the contribution of the Chinese community under British Malaya:

a The Chinese were responsible for half of the world’s tin supply during that period because of the hard work, law abiding and capability.

b The Chinese were the miners, traders, planters and fisherman way before the British made way to Malaya. Before the British invasion, it was the Chinese energy and industry that paid for the infrastructure projects in British Malaya.

c The Chinese were the pioneers in tin mining and went into remote jungles, cleared the forest, took the risk and made profit for their hard work.

d The Chinese built the schools, government buildings, roads, railways, water works, etc.

e The Chinese invested their capital and brought in Chinese labour to develop British Malaya when the British were afraid to invest.

f The Chinese labour and enterprise were the reasons for the evolution of British Malaya.

The above reflects the contribution of the Chinese community in Malaysia. The ‘Chinese Tsunami’ comment does not recognise the hardship that the Chinese community endured towards building this country. It was not a Chinese tsunami but rather a Malaysian tsunami as stated by Lim Kit Siang. However, passing a racial remark on a community that has been an integral part of this nation destroys the Malaysian sentiment in Chinese community. The political leaders should take the responsibility for the defeat in the election, instead of passing racially provocative remarks towards a community that has suffered building this country.

Relating to the historical evidence and role of Chinese community in socio-economics activities, they have contributed significantly. Their participation in socio-economic activities has uplifted the country. These contributions must be recognised and as a democratic nation, it is their right to choose leaders. MCA and Gerakan have failed in addressing Chinese community issues and the component parties of Barisan Nasional should tackle the issues delicately without stirring racial sentiments.

Relating to comments from Saravanan (MIC), in a democracy the people have the right to choose. No one put a knife to your neck and asked you to serve the community. The choice of career in politics in decided by the individual, and part of the political career is ability to accept the people’s choice. Despite the blunder at the electorate, Barisan Nasional is still the government and the leaders are required to deliver the manifesto promised during the election.  We request political leaders to commence activities that have been promised in the manifesto instead of making harsh remarks on Chinese community.

The Malay, Chinese, Indian, Kadazan, Iban and others have decided that the way to move forward is through multiracial cooperation. The new generation identifies themselves as Malaysian first before anything else. The election has proven our desire to be governed by liberal leaders with progressive thinking instead of traditional communal backwards leaders. The political ideology by PKR, DAP and PAS has captured the hearts of the young Malaysian. The popular votes have proven the rise of Generation Y in deciding the direction of this country.

We urge the coalition leaders to stop these racial remarks on our Chinese brothers. We stand united to defend the rights of every Malaysian regardless of his ethnicity. As a Generation Y representative and on behalf of decent Malaysians, we require the coalition leaders to nurture the Malaysian spirit in their political agenda. We have rejected two racist leaders from Perkasa and if the racial propaganda continues, Malaysian will not hesitate to reject race based leadership. The people have trusted the coalition with another mandate and we require the leaders to deliver it open heartedly.

To the Chinese and Malay community, we appeal for you to ignore the remarks on ‘Chinese Tsunami’ and ‘Apa lagi Cina mahu?’. We have rejected racism and a paradigm shift has taken shape in mind of the Malaysian. History has proven that the Chinese and Malay community share a close bond since the Malacca Sultanate. Let’s continue to foster the relationship instead of falling for a racial political ploy. The British invented the ‘divide & rule’ system to segregate the Malay, Chinese and Indian in the past, we have matured as a society and the system is no longer applicable.

History has proved the role and contributions of Chinese society in this country.  The Malaysian public has sufficient knowledge and understands the importance of racial harmony. The real power is with the people and no one can take that away from us. We continue to exist and fight for our rights regardless of the condition. We have come a long way to give up on the Malaysian dream. The Inikalilah spirits lives on with us and it was a Malaysian tsunami not Chinese.

Natesan Visnu - FMT

Charge the racist!

PETALING JAYA: The DAP will back any move to take action against local Chinese dailies for stoking racial sentiment if there is proof, said party adviser Lim Kit Siang.

“We welcome any action and will give support for Chinese newspapers to be charged with sedition if the Prime Minister can pinpoint which newspapers are responsible and the articles,” he told reporters at the DAP headquarters here yesterday.

He said there should not be any double standard in punishing those guilty of stoking racial sentiment.

On Tuesday, commenting on Utusan Malaysia's front-page headline Apa Lagi Cina Mahu? in a press conference, Prime Minister Datuk Seri Najib Tun Razak had said: “You blame Utusan but what about the Chinese papers? Are you saying that they (Chinese newspapers) are saying the right things all the time?”
Lim urged Najib to retract and apologise over his remark attributing the election results to a “Chinese tsunami” and the Chinese dailies.

He refuted the Prime Minister's statement that the Chinese had been duped by the DAP into believing that they could change the government via their ballots.

“This is not the truth as DAP has never said that the Chinese were able to change the government,” he said, adding that the call for change was made to all Malaysians via Pakatan Rakyat.

Lim warned Najib against “playing with fire” by racialising the election results, including using this to bolster his image for the coming party polls in Umno.

Barisan Nasional leaders, he said, should instead focus on revamping the electoral system by asking members of the Election Commission to resign.

- The Star/Asia New Network

Thousands protest Malaysian election results

PETALING JAYA: Opposition leader Datuk Seri Anwar Ibrahim called on Malaysians to protest the results of the general election by wearing black.

“I urge all Malaysians to wear black every day from Saturday,” he said in his speech during a rally to protest against the general election results at the Kelana Jaya Stadium last night.

Anwar also questioned the targeting of certain segments of society for the results in GE13.

“The Malays, Chinese and Indians as well as other races want to defend their rights and reject cheating and deception,” he said to tens of thousands of opposition supporters who attended the rally.

He said Pakatan Rakyat leaders would be gathering in Penang on Saturday night for another rally.

Among those present were Bersih co-chair Datuk Ambiga Sreenevasan and DAP adviser Lim Kit Siang.

Fashion statement: Anwar urging Pakatan supporters to wear black during the rally at the stadium. — AFP

 

Hundreds later spilled onto the Damansara-Puchong Highway (LDP) in front of the Giant Hypermarket after the rally ended at about 11.30pm to cheer passing cars as well as raise flags.

Coupled with the rally participants who parked their cars illegally on the LDP near the hypermarket, this caused a major traffic gridlock over several kilometres.

There was no police presence to control the situation.

Earlier, motorists expressed frustration at being caught in the jam as people made their way to the stadium.

A part-time kindergarten teacher who was caught in the jam near the Puchong-Sunway toll plaza said she left work at about 7pm and only reached home at 10.30pm.

“At first I thought it was a police roadblock, but I did not see any police, only people in cars and on motorbikes waving flags.

Fully prepared: Pakatan supporters using umbrellas or raincoats at the stadium during a drizzle.

 

“The elections are over, so why is there a need to demonstrate and cause so much inconvenience to the public?” asked the 56-year-old who only wanted to be identified as Nor.

Meanwhile, social media users used their time spent in the jam to describe the congestion.

“It's so jammed here @ sunway toll that drivers are just chillin outside their cars,” @hellsen tweeted at 10.30pm.

User @EwinEe posted a picture showing those attending the rally parked their vehicles along the North Klang Valley Expressway, causing the three-lane road to be reduced to one lane.

By REGINA LEE, FARIK ZOLKEPLI, YUEN MEIKENG and YVONNE LIM
newsdesk@thestar.com.my

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It is a Malaysian tsunami not Chinese tsunami, based on new aspirations and reality reflected in GE 13 outcome

BN fared worse this time around compared to 2008. The number of its parliamentary seats dwindled to 133 from 140. As for state legislative assemblies, the figure was even less impressive with 275 compared to 306 previously although the ruling coalition managed to recapture Kedah and legitimise its control over Perak.

For the first time since the 1969 general election, BN garnered less popular votes than the opposition. I agree with debaters who asserted that this is not a “Chinese tsunami” given the fact that the BN’s performance had also worsened in Malay majority states such as Terengganu.

“Please accept the results.” That was the closing remark of the Prime Minister, Datuk Seri Najib Tun Razak, in his media conference when accepting the Barisan Nasional’s victory in the 13th general elaction at the Umno headquarters in Kuala Lumpur.

Briefly, my preliminary observation is BN cannot be proud or, more so, swollen-headed with its achievement because prior to this it had boasted openly about winning big and securing a two-third majority in the Dewan Rakyat and recapturing states held by the Pakatan Rakyat.

Instead, its achievement is worse than in the 2008 GE because the PR had succeeded in penetrating Johor and won more seats in Sarawak – two states deemed as BN’s fixed deposit – and won additional seats in state legislative assemblies nationwide.

Although the PR had failed in its “Ubah” and “Ini Kalilah” campaign to wrest control of the Federal Government, the pact had nevertheless expanded its presence to all states.

BN had successfully recaptured Kedah and defended Perak, but failed in its attempt to win back Selangor and Kelantan although its propaganda machinery had given the impression that Selangor was already in its hand and there were hopes of winning Kelantan.

With regard to Selangor, its defeat is a major slap in the face for being so boastful.

Penang needs no mention. Both the Gerakan and MCA were totally destroyed.

The bait Najib put before the Chinese produced no results. They openly rejected BN.

Najib was stunned by the outcome and promised changes to Umno. But the poor showing compared to 2008 has made his position vulnerable.

Also, is the outcome of this general election a “tsunami Cina” (Chinese tsunami) as Najib had described them or were they the manifestation of something more significant i.e. a large number of voters no longer accept the BN and the BN-led government as it exists today?

Is it not possible that this is not a Chinese tsunami or ethnic chauvinism but instead a Malaysian tsunami that is based on new aspirations and reality, especially among the young voters?

Although BN has recaptured Kedah, its strength in all state legislative assemblies had fallen.

It almost lost Terengganu as well as surrendered many seats to PR in all states.

On the PR side, it must accept the choice of voters and any dissatisfaction and dispute must be settled in accordance with laws and regulations, and not via street protests.

Wallahualam. – Akadirjasin.blogspot.com/akadirjasin.com.
> A. Kadir Jasin is Editor-in-Chief of magazine publishing company, Berita Publishing Sdn Bhd

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