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2. Their rating can make or break even big corporations. A huge European corporation finds itself unable to invest for fear that it would be downgraded and its shares would plunge. The losses would run into hundreds of millions.
3. Perhaps the rating agencies were only doing their job – letting the investing public know the situation the corporations are in. But they can be wrong or they can be influenced.
5. On the other hand European leaders are reported by Financial Times to be angry with rating agencies for their role in Europe’s debt crisis. They and the United States are now calling for tough measures to curb their influence over markets.
6. These are cherished institutions in the Western financial and business systems. So we must have them as well. And so we do.
7. But like all the systems and institutions conceived by the rich western countries, they are far from perfect. If we must follow them, we should be more circumspect. Rating agencies wield power and as they say power corrupts. We should take their ratings with a grain of salt. We must be told the real basis for their ratings. Otherwise we may suffer the same fate as the European and the Americans.
Dear Tun,
Rating agencies and similar ‘number merchants’ aka consultants are flourishing even in our country. During economic crises or periods of uncertainty, each will pronounce their own set of figures. At any point of time, there will be an array of numbers to represent our GDP growth. Each source will stubbornly defend the superiority of their number. A popular methodology is to get the average of the numbers proclaimed by members of a selected panel of such experts, while in less ‘fortunate’ countries the political leaders will have the final say on what numbers to reflect the state of their economy – the quality of primary data is of secondary importance. In the UK,the newly established Statistics Authority is entrusted to safeguard the integrity of official statistics.A role for our National Integrity Institute?
Ayahanda Tun,
//Tuesday May 25, 2010
Boy’s RM8mil gambling losses
By EDWARD R. HENRY
edward@thestar.com.my
PORT KLANG: A boy who went into high-stakes gambling at the age of 16 accumulated losses amounting to about RM8mil by the time he was 19.
The boy, a millionaire
SALAM KASIH DAN SAYANG
AYAHANDA RAKYAT TUN
IZINKAN,
By Liew on May 19, 2010 6:50 PM
Tun,
Please allow me
Samuraimelayu, great reply and comment. I was only trying to tell Tun that those race issues are not doing any good to anyone. Everytime, Tun talk about this subject people argue or debate and quarrel over who is right or wrong and they bring out stories, calculation, bad month each other, strong words and etc to argue or debate their point. Why cause more fiction to the fact that we all are Malaysian and need each other to survive and excel.
AFFIRMATIVE MR. LIEW. BUT AT TIMES WE ALLOWED OUR EMOTIONS TO RIDE OUR COMMON SENSES UNTIL WE KNOCKED OUR HEADS AGAINST THE WALLS..OF ANIMAL INSTINCTS AND/OR HUMAN INTUITIONS?
AND THAT MR. LIEW IS WHAT OUR AYAHANDA TUN TRYING TO KNOCK INTO OUR HEADS (REMINDER) THAT ‘EXTREMISM AND RACISM’ STILL EXISTED AMONGST US AND OUT TO DESTROY THE PROSPERITY, PEACE AND HARMONY WHICH THE RAKYAT OF THIS BELOVED NATION HAD ENJOYED OVER 22 YEARS OF SWEATS AND TEARS OF OUR BELOVED AYAHANDA RAKYAT TO BUILD A NATION..PROGRESSIVE AND DEVELOPED BY 2020!
WAWASAN 2020 BUKAN TITIK PENYUDAH BAGI JENERASI MENDATANG IA BERMULA
LET THE CHILDREN OF THE FUTURE ENJOY THE FRUITS OF WAWASAN 2020!
HAVE A PLEASANT ‘K.A.M.I’(Kami Anak Malaysia Insaf) WEEKEND
ALFATIHAH, AMIN.
Assalammualaikum w.b.t Ayahanda Tun dan isteri,
semoga sihat wal-afiat hendaknya selalu.
Saya rasa Ayahanda Tun maksudkan agency rating seperti MOODY dan S&P. Agensi rating inilah yang telah men’downgradekan’ Portugal dari “BB+” kepada “BB” baru-baru ini dan juga terhadap Sepanyol dan Greece. Akibat dari ‘downgrade’ tersebut, pelabur2 saham telah menjual saham2 mereka dengan banyak di Eropah dan disamping itu telah menurunkan watawang Euro ke tahap yang paling rendah sekarang (perbandingan matawang euro dan us dollar). Bila matawang euro semakin rendah, syarikat-syarikat luar negara tidak mahu melabur di Eropah dan mengalihkan wang2 mereka ke Asia yang lebih berdaya saing terutama sekali di China. Dengan itu, ekonomi European Union akan jatuh teruk dan inflasi semakin meningkat setiap hari di Eropah. Kelemahan pengurusan kewangan Greece (defisit 13%++) berbanding 3% percent yang dibenarkan oleh European union pada tahun lepas telah menyeret EU ke kancah kejatuhan ekonomi yang lebih teruk. Dan bukan hanya Greece yang terlibat tetapi negara2 lain juga mengalami masalah yang sama. Dengan itu, negara2 ini dipanggil PIIGS (secara ringkasnya BABI) iaitu singkatan dari Portugal, Italy, Ireland, Greece, Spain.
Dan pada kali ini, penyangak matawang bermaharajalela menjatuhkan matawang Euro dengan “short selling” yang banyak. Maka mereka-mereka (Perdana Menteri EU)ini tidak pernah mahu belajar (bodoh sombong) dari Ayahanda Tun setelah diingatkan berkali dalam laman web, seminar dan persidangan2 luar negara. Wassalam.
Kini segalanya telah berubah….corak politik di tanahair juga telah berubah….BN satu ketika dahulu adalah sebuah parti yg sungguh kukuh hingga sentiasa mendapat 2/3 majoriti didalam setiap PRU…tetapi tsunami politik 2008 telah menggubah segalanya….penolakan terhadap segelintir pemimpin BN telah dikatakan menjadi asas Tsunami Politik 2008 berlaku…tetapi kini Tsunami terbaru telah melanda….penolakan kaum cina terhadap Parti BN telah jelas ditunjukkan…persoalan yang bermain difikiran saya dan setiap ahli BN ialah…mengapa perkara ini berlaku?jawapan saya ialah…mereka ingin menjadi kuasa penentu….undi dari mereka adalah undi penentu kejayaan…..dan perkara ini harus segera disekat….bagaimana caranya?mudah sahaja….jaga lah kuasa2 pengundi yg lain…seimbangkan tumpuan dan hargai mereka..jangan hanya tumpu kepada hanya satu kelompok sahaja…pastinya kuasa penentu akan berkurangan….kurangkan kontoversi,isu isu sensitif dan skuad penerangan harus di perkukuhkan…patahkan setiap hujah pembangkang…alert dan sentiasa memantau isu2 yg di mainkan pembangkang dalam setiap kempen2 mereka….ubah cara berkempen…janji dahulu selepas menang baru tunaikan….ini baru betul….
Tun,
Please allow me
Samuraimelayu, great reply and comment. I was only trying to tell Tun that those race issues are not doing any good to anyone. Everytime, Tun talk about this subject people argue or debate and quarrel over who is right or wrong and they bring out stories, calculation, bad month each other, strong words and etc to argue or debate their point. Why cause more fiction to the fact that we all are Malaysian and need each other to survive and excel. There is no better or worst Malaysian, everyone is required to build a better Malaysia. If those that are good in politic become politician (be a good one) and those who are good in business become a good businessman and those that are good at sports become a great sportsman or sportswoman. The end result is to take Malaysia to the highest level, we shouldn
Dear Tun,
This Rating Agencies is just an organization that provides “Opinions” especially on “Financial Credibility” of Business Organization and Institutions.They developed their own criteria in giving Ratings. What are their criteria in giving the ratings? Well, nobody knows except that it could be a very complex computation and analysis using sophisticated financial & economics theoritical formula and data which they collect and compare. Since Financial Institutions are so obsessed with “Risk Management”, therefor, the easiest way to determine the “Risk Level’ is by making reference to “The Ratings” provided by these so called “Credible Rating Agencies”. Since all Financial Institution are so dependent on the “Analysis” provided by these “Rating Agencies” in determining the Risk Level,this has somewhat make the Rating Agencies become very influentual in decision making process related to risk.
Hajar comment is very shallow minded, every coin has two-side, maybe the chinese or the non-bumi are doing a very big favour to the working class bumiputra, UMNO and SUPP. By rejecting BN in the Sibu election will wake up those lazy and corrupted leaders that their time is about to be over unless they work for the public. If UMNO wake up then every citizen will enjoy and finally Malaysia can unite and don
Hello Tun – The Rakyat are now smart and it is difficult to hoodwink them by promising huge sums of money for developement projects in Sibu should BN be returned to power ‘tomorrow’ and the next day PM promises to release the payment cheques as what he did to Hulu Selangor By-Election. This kind of trick won’t work anymore
as the Rakyat of Sibu were left behind all those years and suddenly just because of the Sibu By-Election, everything can be approved overnight. Internet is now in every home and the children will influence the parents on which party to vote for and that has actually happen in the Sibu Election. The People Of Sibu are smart.Their policy is take it as it is our money but vote for the opposition as we will get more goodies with more opposition in Parliament.
SALAM KASIH DAN SAYANG
AYAHANDA RAKYAT TUN
IZINKAN,
By Liew on May 15, 2010 3:11 PM
Tun,
This is a the type of good subject to talk about, please do not bring out Ketuanan Melayu, Melayu vs non-melayu, bumi vs non-bumi or Muslim vs Non-Muslim issues anymore. You make a fool of yourself as the more you talk about those subjects the more things people bring-out or attack you with truth, facts and figures.
…NOW LET US SHARE THE TRUTH, FACTS AND FIGURES OF THE ‘SIBU BY-ELECTIONS (P212)
DAP(CHINESE BASED PARTY) WON BY 398 VOTES..AND WE ARE GRATEFUL TO THE MAJORITY CHINESE (ANCESTORS FROM THE PEOPLE REPUBLIC OF CHINA)VOTERS FOR ‘REMINDING’ THE LEADERSHIP OF BN AND THE RAKYAT OF ’1 MALAYSIA’ THAT ‘ BLOOD IS THICKER THAN WATER’
AS A WISE BLOGGER( A KADIR JASIN ) QUOTED IN HIS LATEST ARTICLE
ABOUT THE UNAPPRECIATIVE AND UNGRATEFUL ATTITUTES OF THE MAJORITY CHINESE PEOPLE OF SIBU…
…Mengubahsuai pantun lama; sorong papan tarik papan, buah keranji dalam perahu, beri makan mereka makan, minta mengundi mereka tak mahu.
AND THAT MR LIEW IS AN ‘EXTREME’ FACT!
AND WE WUD LIKE TO ADD ANOTHER FACT..ONLY THE HAIRS ON YOUR HEAD ABOVE IS STRAIGHT!
ALFATIHAH, AMIN.
Ps. Its your prerogative to be unappreciative and ungrateful but please have the decency and respect when posting comments in our Ayahanda Rakyat Tun’s domain.
salam tun…….
maaf lari topik lagi……….
1malaysia dah gagal…..
sebab rakyat tetap tak bersatu….
paling dukacita bila pm bagi peruntukan untuk sekolah aliran sehingga berjuta-juta…….
sekolah kebangsaan dok macam tu jugak….
paling mudah nak jayakan 1malaysia.. wujudkan sekolah satu aliran sahaja….
yang taknak, jadikan sekolah persendirian…
tak yah dok sibuk nak pi bantu la kalau tak mau ikut dasar kerajaan….
biaq pi la depa urus sendiri….
selama ni depa boleh hidup.. toksah bn nak tunjuk jaguh nak ambik nama…..
ni bila pm pi bagi berjuta, depa senyum depan kita..
elok angkat buntut, depa juih kita…
satu lagi, cerita L dan M dah selesaika….
saya rasa tun kena bantai jugak pm kita macam tun bantai pm yang lama….
pendapat saya kalau sayang anak, tangan-tangankan, sayang bini tingal-tingalkan, sayang pm kena la pi tegur-tegurkan…..
jaga diri tun
Samurai Melayu – I completely agree with you .
But I want to turn the spotlight on Musa. When Tun spoke up on Abdullah Badawi’s destruction of Proton, the U turn on the 2nd Bridge etc. Musa was grandstanding. Musa is known to take trendy liberal views and his ambition in life- If at all he had one was to gain populism. He is known for his self-righteous statements and attempts to project himself as cleaner than clean. He is quick to ridicule Tun Dr M for his fast and decisive action, often complaining that it was undemocratic etc.
However.. what success can Musa lay claim to. He failed in Cabinet. The Ministries he ran cannot boast accomplishment. Like Anwar Ibrahim his only ambition was to become PM. So for all his talk what can he boast of- after becomming the Chairman of Sime. He has destroyed a great company. He has paralysed its management. He has destroyted any hope Sime had of becomming an international champion.
When Musa became DPM he dedicated himself to becomming PM. Now as Chairman his aspiration must be to become Executive Chairman and to fill the management of Sime with kuncu-kuncu.
I hope Dato Seri Najib will not allow failed men to lead key GLCs. GLCs need real leaders- like Tun Ahmad Sarji and the late Tun Ismail.
While on the subject- what is Sime capable of- just plantations and housing. They seem to fail everywhere else. Malaysia has other companies in this same sector eg IJM, IOI and KLK. Do they spend like Sime. Do they hold board meetings round the world. Do they attend conference after conferenceon the pretext of CSR. Do they waste shareholders money hiring communication experts (power point experts).
What has happened to Sime is a demonstration of Musa’s incapability as a person and as a leader. No other PM gave Musa this kind of prominence expect Pak Lah. Who seemed to think that a failed rejected deputy is fit to become Chairman of Malaysia’s buiggest Company.
salam tun….
maaf lari topik…..
prk sibu dah selesai…
dsn dah bagi berjuta kepada orang sana…….
tapi kalah jugak………
ni la yang buat saya geram….
bodoh tak leh diajar, cerdik takleh nak tumpang…..
di hulu selangor dulu dah ada jadi….
dok ulang taktik sama lagi buat apa….
kalau atas dasar pembangunan tak payah dok tunggu prk baru nak bagi projek sana projek sini, duit sana duit sini….
kan berlambak orang bn dok kata lihat prestasi kami terdahulu….
nak sibuk tunjuk bn bawak pembangunan dan bagi duit masa prk nak buat apa lagi…
dah nampak pengundi cina akan sokong parti cina….
jadi tun tolong la pi sound sikit dsn….
kepada pemimpin / adun kawasan melayu pi la balik kawasan tengok dan bantu apa yang patut…..
ni saja la nak jamin bn dapat sokongan dari melayu…
bukan apa takut rakyat meluat…
masa prk bn dok sibuk bantu kaum lain….
sampai berjuta-juta….
tapi untuk melayu takat ratus ribu sahaja…..
masa lain jangan harap la…..
saya geram dan risau….
banyak sangat isu yang masih gagal oleh dsn nih…
dan satu lagi umno bila prk/pru mesti letak calon melayu di majoriti melayu…
dasar kongsi kawasan ni dah tak masuk akal kalau share partner dok makan tidor ja…
tau tau menang…
orang melayu bila dapat kontrak niaga, ali babakan…
takkan untuk pilihanraya pun nak ali babakan jugak kot???????…..
jaga diri tun….
Assalamualaikum Kehadapan Ayahanda Tun,
Mengapakah masih kedapatan hampir 80% bangsa Melayu yang kini masih hidup dibawah tahap kesenangan (memetik dan mengulas petikan berita yang disertakan dibawah):
1)Disebabkan apabila seseorang peniaga Melayu ingin memulakan perniagaan beliau, maka beliau akan juga terpaksa berhadapan dengan segala jenis kekurangan dalam sistem pembekalan yang dahulu, kini dan selamanya didominasikan oleh bangsa Cina. Jika anda seorang pemaju hartanah maka berkemungkinan besar anda akan dimestikan menandatangani dokumen
BN telah kalah dalam PRK Sibu kepada DAP.Nampaknya kaum cina sekarang lebih selesa mengundi DAP berbanding SUPP-BN.Tidak hairan bagi saya.Saya bukanlah penduduk Sibu tetapi rakan-rakan dari Sibu mengatakan “PADAN MUKA BN”.Selama ini tiada apa-apa yang BN lakukan untuk Sibu.Bila YB dah mati,ada PRK baru Sibu menjadi perhatian.Kalau dulu BN di Sarawak boleh kata senario politik PR dari Semenanjung tidak akan berjaya di Sarawak nampaknya keadaan sudah berubah.Faktor penduduk pedalaman akan menyokong BN dan penduduk bandar akan menyokong PR hanya teori.Saya bersama rakan ada melakukan research untuk semester akhir bertajuk “POLITICAL AWARENESS AND PARTICIPATION AMONG YOUTH IN SARAWAK-CASE STUDY IN UiTM SAMARAHAN,UNIVERSITI MALAYSIA SARAWAK AND INSTITUT PERGURUAN TUN ABDUL RAZAK”mendapati satu fakta menarik iaitu – HANYA 5 ORANG DARIPADA 400 RESPONDEN MENYOKONG BN. Research ini memanglah ada kekurangan kerana responden hanya belia di kalangan pelajar institusi pengajian tinggi.Tetapi nampaknya ini memberi isyarat kepada BN Sarawak bahawa mereka perlu buat sesuatu bagi memenangi hati pengundi golongan belia menjelang pilihan raya Sarawak tidak lama lagi.Ada gurau senda mengatakan manifesto BN Sarawak haruslah berbunyi begini barulah BN menang besar-”TUKAR CM,BN MENANG”
Sejauh mana kebenaran kita tunggu pilihan raya Sarawak tidak lama lagi.Kepada golongan politik yang ingin tahu mengenai research saya dan rakan seperti tajuk di atas boleh menghubungi saya.Research ini taklah seberapa tetapi seronok untuk dibaca.
Salam Tun & Fellow CheDet’s Bloggers,
Semua tahu bahawa berjudi itu HARAM. Tapi bila melibatkan hasil berbilion, mata siapa yang tak terbeliak? Nafsu syaitan pun bermaharajalela. Maka keputusan telah dibuat olih pihak2 yang berwajib, dengan alasan yg remeh, menghalalkan JUDI – bermula kerana meraihkan pesta bolasepak piala dunia.
Semuga Allah memberi kita semua perlindungan dari api neraka bagi mereka yang telah diberi pertunjuk.. ameeen.
Western-led rating agencies is a way for them to monitor and control the movement of the economy in developing countries so that the situation under control and did not get to a level that can compete with and threaten their economies.
Often occurs when the report is provided depicting a negative, unfair and biased to any country that is selected. The report used for the purpose of propaganda and also to curb the entry of foreign investors into a specific country.
Typically, countries that will become the target, such as the country does not become their partners and are not consistent with the dominant western countries will become victims.
Islamic countries like Iran, Syria, Latin American countries like Venezuela, Cuba and African countries such as Somalia, Libya and many more are among the countries that have become victims of the most significant since a long time.
Our country has also experienced the same situation a while ago, it was during the golden era of the reign of Tun two decate ago.
The situation would still feel the effects until now.
Dearest Tun,
1. All rating agencies based their ratings on their understanding about their OWN systems, and most of the time they don
Salam Tun,
Saya amat sedih tentang kerugian yang dialami oleh Sime Darby yang di pengerusikan oleh Tun Musa bekas Timbalan Tun dahulu.Kenapa CEO seorang
sahaja dijadikan mangsa dan tidak keseluruhan ahli lembaga pengarah.Tindakan ini tidak memberi gambaran yang baik kepada Rating Agency terhadap urus koperat di Malaysia.Adakah kerugian besar di sektor oil and gas disebabkan oleh amalan kroni, untuk membantu syarikat tertentu dengan tawaran harga kontrak yang tinggi menyebabkan sime darby menanggung kerugian.
Saya harap Tun dapat menulis sedikit tentang Kerugian Sime Darby ini supaya rakyat tahu punca sebenarnya,sama seperti kes telaga minyak Brunai dan Limbang.
Saya berpendapat pengerusi GLC hendaklah orang yang mempunyai intergeriti tinggi seperti TUN Ismail dan Tan Sri Hassan Marican.
T.Kasih.
salam sejahtera Tun,
Saya hendak menarik perhatian Tun perihal bumiputera dalam ekonomi negara sekarang.Dari media dan pemerhatian saya,bumiputera khususnya orang melayu tak kelihatan pun petunjuk perubahan peningkatan atau kemajuan.lebih-lebih lagi di tahun-tahun kebelakangan ini.
jurang makin lebar dengan kaum cina.kaum india sudah nyata berjaya sekarang ini.kilang padi kepunyaan orang melayu di kawasan berhampiran tempat tinggal saya ada tujuh buah.sekarang ini masih ada semuanya.masih berjalan hanya satu.Kilang kepunyaan orang cina ada sembilan buah dengan tambahan kapasiti tiga kali ganda atau lebih.dulu ada enam sahaja.
Kedai makan sebagai asas bagi orang melayu ceburkan diri dalam perniagaan dulunya ada 18 buah.Sekarang ada 11 buah daripada 35 buah kedai.24 buah daripadanya milik warga asing dari utara semenanjung.
Tukang rumah(kontraktor binaan)kampung tak sibuk lansung kerana peluang disapu pendatang seberang.Habis peluang sehingga di kawasan kampung-kampung pun.
Pasal penyalahgunaan dadah pula,telah lama dimonopoli oleh pemuda melayu.Di sini mungkin ada peningkatan.
Apa lagi yang dimaunya oleh pemerintah-pemerintah melayu ne.Kuasa dah ada,nama pun dah megah,harta ada di sana sini.Tengoklah ke bawah tempatrumput-rumput dan semut melata di tanah.
Ayahanda Tun,
May I…..,
//By ekompute on May 14, 2010 4:01 PM//
Majority of the younger generation especially Chinese prefer to have their post graduate degrees done in Singapore National University and Nanyang Technology University. Those Malaysian students who qualified for the entrance requirements are automatically granted a loan from Singapore Government.
The good news is that all Malaysian public universities within this year will be able to get only 30% subsidies from government, hence, these universities will be opened to all Malaysians including Singapreans, Indonesians, Chinese, Vietnamese, Africans, Iranians, Cambodians etc.. who prefer to have their degrees done here will be accepted base on qualified requirements and not on skin colour basis, and this will boost the NEP as planned by PM Najib and Cabinet.
Ekompute, you are just only a stubborn guy who knows nothing about rating agencies, you only enjoy critising others, the appropriate word should be ‘down grading’ others subconciously, because of your inferiority complex with no long term vision nor mission…poor you!!!!!
Good night Ayahanda Tun.
SALAM KASIH DAN SAYANG
AYAHANDA RAKYAT TUN
IZINKAN,
By kuala1939 on May 14, 2010 10:47 AM
Tun,
Your former deputy seems to be hogging the limelight again.
…
The whole board should have the decency to offer their resignation and beg the shareholders for forgiveness. Both Zubair and his whole board must face the music.
SDR. KUALA1939,
THE ONLY DECENT THING THAT THE GOV’T OF PM NAJIB SHUD DO IS SACK THE WHOLE BOD OF SIME DARBY JUST LIKE THE GOV’T OF AYAHANDA TUN ACTED AGAINST THE BOD OF BMFL FOR THE LOSSES INCURRED IN HONGKONG AND THE LIFE OF A GOOD FRIEND AND COLLEAGUE.
WE WONDERED WHO WAS THE DEPUTY PRIME MINISTER THEN?
‘KEPIMPINAN MELALUI TAULADAN’…???
ALFATIHAH, AMIN.
Dear Tun,
The following is an interesting feedback on the Sime affair.
Entire Sime Darby Board Shd Be Made Responsible, Says Syed Ali
KUALA LUMPUR, May 14 (Bernama) — The entire Sime Darby Bhd board of directors should be held responsible for the losses incurred by the conglomerate and not solely place the blame on its Chief Executive Officer (CEO).
Chairman of Composites Technology Research Malaysia Sdn Bhd (CTRM) Datuk Wira Syed Ali Alhabshee said it was not fair for the CEO alone to take the wrap for the losses as any decision made in a company must be approved by the board.
“As such it is not fair for the CEO only to be sacked … the entire board of directors of Sime Darby should also be replaced,” he told Bernama here Friday.
I cannot understand how your former Deputy can sit there and grand stand and talk about governance when his whole board was caught napping. That’s not surprising because he was appointed by Abdullah Ahmad Badawi who was known for taking naps. I wonder what the Board was doing, they must have known about the projects Sime went into, yet they seemed to do nothing to impose a higher level of oversight.
I suppose your former deputy was busy on his lecture circuit being the empty tong that he is. I wonder how often he uses the corporate jet and to what destinations. I wonder which are the exotic locations he was travelling to and at what cost. But really none of this happened during Tun Ahmad Sarji’s tenure or Tun Ismail’s tenure. Perhaps it is time to go back to the sound hands of honest public servants who are loyal to the government and the country and to side line failed politicians.
We can save the failed politicians for the lecture circuit.
Tun,
This is a the type of good subject to talk about, please do not bring out Ketuanan Melayu, Melayu vs non-melayu, bumi vs non-bumi or Muslim vs Non-Muslim issues anymore. You make a fool of yourself as the more you talk about those subjects the more things people bring-out or attack you with truth, facts and figures.
I think it is a shameful thing that after 52 long years of malay supremacy, special privileges, unaccounted and unaudited public money abuses and total irresponsibility to the general public (especially to the poor and working-class Malays), you dare to talk more about it openly that the Malays are still backward, poor, cannot compete in open market, cannot think for themselves, need all sort of special help to survive in their own country. If I am you I would bury those shameful issues in the deepest hole and never talk about this shameful episode of Malays and Malaysian history.
But knowing you as a very smart person you might be actually be using reverse psychology to wake up the malays and its political leaders. You might be actually telling them via the general public of how stupid the NEP and all the malay supremacy politics, policies and empty promises. You might be using the non-bumi to tell the bumi and umno-putra that they are actually been abused by their own kind and how backward their thoughts are! If you are doing that I hope you succeed!
From the daily newspaper report, Malay political and NGO leaders are still campaigning and demanding special privileges for the Bumiputras and Malays from the Govt after 52 years. Are these Malay leaders trying to say that more than half of population of Malaysia still not knowing and learning how to survive? If it is true then Malaysia is in grave danger of disappearing in the fast evolving world. With less than half of the population knowing how to survive or earning a clean living and the balance depending on hands-out from the Govt, Malaysia will never be in the high-income and developed countries group.
I hope the Perkasa and Malay supremacy NGO leaders know what they are saying and don
Assalamualaikum Tun,
Memang benar, kita sepatutnya beri lebih perhatian kepada rating agencies ni sebab mereka pun ada kepentingan juge. Dan system yang mereka bawa tak semestinya perfect. Pasti ada cacat-celanya. Cuma ada sesetengah orang kita yang fanatik tentang mende rating ni. Agensi kerajaan pun sibuk nak dapatkan ’5-star rating’ sedangkan servis dan kualitinya jauh panggang dari api. Jadi jgn la terlalu bergantung pada report daripada rating agencies. Cuba cari source lain plak untuk tambah info.
p/s: Tun, sistem pendidikan kita ni dah lama tak direvise dan diupdate sampaikan pelajar-pelajar Melayu kita (yang majoritinya tak minat lagi ke sekolah) banyak keciciran. Pada pendapat Tun dan para pengunjung setia chedet.co.cc ni, Menteri Pendidikan kita ni tido ke ataupun tak berani nak bawak perubahan kerana takut political fallout? Ataupun jadi Menteri Pendidikan on tangkap muat basis? Kenapa sistem pendidikan kita tak bergerak seiring dengan keperluan pekerjaan?
Dear Tun,
Of course, just like everything else, rating agencies are useful but are vulnerable to abuse and bias. One should not be too gullible to swallow everything ditched out by rating agencies as cautioned by Tun.
We must realise that rating agencies serve useful purpose as a guide to grade an institution. By and large, rating agencies have more advantages than weaknesses.
amin tan
Ayahanda Tun,
Capitalist system is far from perfect. When it comes to corruption, the people tend to believe most of Government officials are corrupt to the highest level without any proven evidents to support. They think that Government is the cause of corruptions in Malaysia.
The power actually lies with those who have more CAPITALS..It is a fact that nobody bother to believe although that is the truth. We Malays knows this perfectly well, and that is the reason why the Government should never let races in Malaysia unequal in their economic standings. For that will only make corruptions flourish at every level of our society. It is the job of the Government…for many years to come in Malaysia, until all Major Rating Agencies in the world use the basis of their analysis on the Islamic Economic Model…which should be flawless!!!!
Salam.
Besut
Salam Tun yang di hormati,
1. Masa sekolah ada peperiksaan UPSR, PMR dan SPM. Pelajar akan diketahui kedudukan dan kefahaman bila keputusan peperiksaan dikeluarkan. Siapa dapat keputusan baik akan cakap perkara yang baik, yang dapat keputusan kurang elok …macam2 jadi nya.
2. Masa kerja ada ISO 9000 siri. Semua jabatan kena periksa samada amalan kerja mengikut prosedur kerja yng telah ditetapkan. Ada jabatan yang ikut dan tak kurang juga jabatan yang tak ikut semua. Yang ikut dapatlah pujian, bonus lebih …yang tak ikut …macam-macam cerita nya.
3. Dengar nya Kerajaan pun nak kan semua GLC mengikut piawaian yang tinggi. Jadi adalah pemeriksaan / rating yang diberi. Yang bagus dapat lah pujian …kontrak CEO di lanjutkan. Yang tak bagus …haru juga …dengar nya ada yang dapat hadiah “penyapu” ….
4. Rupanya negara pun ada juga piawaian nya seperti Tun maklumkan.
5. Mungkin lumrah manusai. Bila orang lain, orang bawahan kena ‘check” prestasi…ini adalah satu amalan yang bagus. Bila empunya diri kena check, prestasi kena periksa ….bila tak bagus …membebel lea …
6. Bila diri sendiri
Salam Tun,
Ratings punya masalah ini bukan hanya membelengu established company, malahan sedihnya di bank-bank kerajaan pun menggunakan standard RAM untuk menilai tahap risiko syarikat baru nak bangun atau baru setahun jagung.
Macam mana Bumi boleh berjaya dan terus bersaing sekiranya kelulusan pinjaman untuk mula atau kembangkan perniagaan tertakluk kepada rating guna standard RAM?
Sure yoou can do something about it.
“We are not conscious of it but the rating agencies have apparently become a factor in the failures or success of businesses and even whole countries.”
Yes, take for example the latest QS Asian University Rankings 2010. They have the cheek to rate Universiti Malaya, our best university, at No. 41 and gave No. 3 to the National University of Singapore! What is NUS? Isn’t it at one time also the University of Malaya? And they even rank Thailand’s Mahidol University ahead of us! They are just insulting us here in Bolehland!
Rating agencies are not God and they can be wrong or they can be influenced. I don’t believe in them unless they give us good ratings. If not, I think their ratings are not accurate.
Then what about our newspapers? They are always portraying only good things for certain people. You yourself, Tun, have been a victim of our media’s biased coverage. If, like you say, the rating agencies have destroyed businesses, our media have destroyed people and organisations that do not subscribe to their agenda.
YABhg Tun,
…and who rates these Rating Agencies????
Tun,
Your former deputy seems to be hogging the limelight again.
Looking at his performance, I am so glad you kicked him out and so did UMNO. Apart from his cute dinner time jokes, this is his capability. He presides over billions of losses, then passes the buck to the CEO (who was probably his one time crony) and is now grand standing as if he is cleaner than clean.
The whole board should have the decency to offer their resignation and beg the shareholders for forgiveness. Both Zubair and his whole board must face the music.
I wonder what the rating agencies think of Boards like this. Their members seem to spend time holding meetings in all the exotic locations of the world.. flying first class… claims and claims but they don’t know what is happening under their nose.
This did not happen when honest public servants like Tun Ahmad Sarji were on the board.
Rating agencies must keep their eyes open to companies like this who are all spin and no substance…
Looking at what has happened to SIme, I am so glad that Tun did not let Musa wreck the whole country.
Chedet
Ada beberapa soalan.
1. Betulkah rating ekonomi kita telah naik mendadak hingga capai 10.1% untuk Suku Pertama 2010?
2. Bolehkah tercapai GDP 6% tahun ini?
3. PM kita pakai data mana, Bank Negara atau Financial Times, UK?
Terima kasih.
SALAM, TUN
1. SAYA INGIN BERTERUS TERANG KEPADA TUN , BAHAWA TUN MEMANG TAK ADIL KERANA ADA KOMEN SAYA YANG AGAK BERTENTENTANGAN DENGAN PADANGAN TUN TAK DIKELUARKAN. MACAM NI TAK PATUTLAH.. KALAU TUN NAK ORANG SOKONG TUN SAJE ….TAK GUNALAH BUKA BLOG INI….TUTUP SAJA DAN MASUK POLITIK.
2. HARAP KOMEN ISU SEMASA YANG BERLAKU DALAM NEGARA. MUNGKIN ADA YANG TAK KENA. KALAU DULU ZAMAN PAK LAH …CEPAT SAJE TUN KOMEN DAN BANTAI…TAK PATUT. KINI ZAMAN NAJIB ….ADA JUGA YANG TAK KENA… TUN DIAM SAJE….MUNGKIN JUGA TUN TAK SETUJU. TAPI KERANA TUN SAYANG PADA NAJIB SANGGUP KORBANKAN PRINSIP. INI TAK PATUT….
3. KALAU NAK KOMEN ISU DALAM NEGARA, SAYA RASA SANGAT BANYAK…..PENGLIBATAN ORANG TERTENTU DALAM PENTADBIRAN NAJIB, ORANG BAUKAN POLITIK TAPI CAKAP MACAM ORANG POLITIK….
4. SAYA CADANGKAN TUN, KOMEN PERKARA DALAM NEGARA….JANGAN CERITA PASAL DOW JONES, RATING ,…..ORANG TAK FAHAM…….CERITA LAINLAH YANG BOLEH BERI MANFAAT KEPADA MASYARAT TERRAMAI DI MALAYSIA…UBAH MINDA MEREKA.
5. KENA PEGANG PADA PERINSIP. KALAU DULU PAK LAH BATALKAN SESUATU CERAMAH YANG MELIBATKAN TUN, TUN KATA MACAM2, TAPI KALI TUN CERAMAH TUN YANG DIBATALKAN OLEH NAJIB TUN TAK BISING APALAH…..DUNIA DAH TERBALIK KOT….
SEKIAN.
5.
Ayahanda Tun,
From Malaysian Mirror…….,
Sports betting is now legal
Thursday, 13 May 2010 16:17
KUALA LUMPUR
Ayahanda Tun,
//By Jamal on May 13, 2010 12:33 AM
Dear Tun,
The rating agencies presently are inadequate. They provide only one dimensional ratings…..mostly for short-term investor aka speculators aka gamblers.
Need we say more?
They are also cause self fulfilling prophecies to happen.
Cheers and to your good health Tun.//
Dear Jamal,
Are you the political analysis for MCA and a columnist in China Press?
Take care Ayahanda Tun.
Salam Tun.
Some companies engaged the rating agencies to do certain consultancy/research works for them at an agreed fee, and to ensure only good & encouraging statistics are resulted.
However many research works are carried out voluntarily(?) by the rating agencies. They will then approach the intended company before releasing their actual findings to the public or otherwise, depending on the outcome (+ve or -ve) of their findings and/or the ‘fee’ being offered. The ‘enforced’ client may also probably propose some ‘minor adjustments’, which the rating agency is ever willing to do for an additional fee.
Many people feel peculiar as to how the rating agencies survive. Well money certainly do the talking for you.
Tun
The real problem with these Rating Agencies like Standard & Poor, Moody’s, Dun & Bradstrret, Fitch etc., is that unlike accountants, lawyers and others who can be sued for failuree to exercise their fiduciary duties properly, the RA’s seem to get away with it.
Very often, a financial instrumment is only marketable and saleable when the RA’s give their verdict. Yet when CDS, CDO, Sub-prime Mortgages etc which were fraudulently marketed by AIG, Goldman Sachs, Morgan Stanley etc. tank, the RA’s are not being sued or fined heavily by the financial authorities.
Then the RA’s immediately cover their ass by downgrading the very investment they earlier rated as worth its weight in gold without any consideration of long-term prospects!! This happened to Malaysia in the immediate aftermath of the 1998 Asian Currency Crisis!
There’s no question even in M’sia that these RA’s were too client compliant and biased in the issue of shares, bonds and profit guarantee listings and got away with murder.
Increasingly, SC’s allover the world must hold the RA’s financially responsible for investors’ losses where it is clearly they did not exercise due diligence in framing their initial professional ratings and opinions!!
dpp
we are all of 1 race, the Human race
how about rating the RATING AGENCIES?…..so we know which rating agencies has the best rating…
Genuine diamond are not afraid of fire!
Salam Tun,
I am in total support on your opinion that whatever we conceive from the Western world must not be taken 100% as it is.
The West and the East will never ever be the same. Our cultures and values are literally ‘worlds apart’. The Rating Systems are devised by humans and just being humans, they’ll not be able to actually run from devising things with influence from their values and cultures.
Straying from the main topic, a simple example can be seen on how KFC devised their menus to suit Malaysians, that we can actually enjoy Nasi Ayam when there’s none of the like at the Western countries’ outlets.
Back to the issue, we can still use the Ratings System with a pre-requisite that it is remodelled to our own ‘mold’.
Tun .. rating agencies ni macam tetamu yang pergi majlis kawin! Walau betapa sempurnapun diadakan majlis persandingan, dengan persiapan yang tersusun rapi .. namun dalam perjalanan pulang, pasti ada tetamu yang “membuat rating” mereka sendiri tentang majlis itu.
Contoh: “Eh, Minah .. pengantin perempuan terlalu cantiklah untuk suami dia kan?”; “Alaaa .. mak andam pakaikan gincu terlalu tebal”; “Peh! Kari ayam tadi tu agak masinlah!”; “Air apa diorang hidang tadi? Air paipkah?”; “Alaaa .. aku tau kerusi pelamin tadi tu diorang sewa”; DAN MACAM-MACAM LAGILAH!! Mana ada pernah komen yang positif? Rating agencies ni macam tu lah!! Mana pernah nak kata kita ni OK .. mesti KO punya!! Tak payah dengarlah cakap mereka!
The Rating agencies have been accomplices in the Subprime crisis giving AAA ratings for what was clearly toxic assets.Sometimes you really don’t know if Bush himself was not party to this crime.That is why we must never ever believe whatever the rating agencies say about USA or its Companies, particularly their financial institutions,- esp,at a time like this, when they are desperately trying to get of their rut, to lure in the big money from Asia.Don’t be fooled-The US govt is ruled by a private enterprise called the Fed Reserves, owned by the Bankers themselves! As a biz enterprise the’d do anything to make money and if they can make use of anybody they’do it.They are all powerful-and absolute power corrupts absolutely.The rating agencies should be deemed irrelevant and and ineffective,simply b’coz they have no credibilty!They have been used before and can be used again.
Assalamualaikum.
Agensi penarafan ini hanyalah satu gimik untuk memperbodohkan pelabur dan masyarakat umum. Mereka menyatakan mereka satu agensi penarafan bebas tetapi saya amat ragu tentang kebebasan mereka.
Secara umumnya saya tidak jumpa satu badan yang betul-betul bebas dalam semua perkara tambahan pula jika ianya produk kapitalis. Semuanya hanyalah pembohongan. Bebaskah rakyat negara barat? Kenapa purdah dan kubah masjid diharamkan? Sedarlah kita semua umat ISLAM bahawa tidak ada kebabasan mutlak dalam hidup ini. Jangan tertipu oleh propaganda kapitalis dan orientalis. Tiada juga kesamarataan dalam hidup ini. Inilah kononnya yang diperjuangkan oleh pakatan rakyat. PAS (jika mereka berpegang pada iktikad ahli SUNNAH WAL JAMAAH) tidak akan menentang kerajaan tetapi akan menjalankan tanggungjawab menegur kerajaan dengan secara berhemah dan bijaksana.
ISLAM adalah jati diri BANGSA MELAYU, tanpa ISLAM TIADALAH MELAYU. Itulah asas kata-kata Hang Tuah. Selebihnya hanya sekadar adat dan resam sahaja. Melayu adalah Bangsa Agung yang akan menjadi tuan tanah Melayu ini dan akan sentiasa menghormati jiran dan rakan selagi mereka tidak khianat. Pengkhianat layaknya dihukum mengikut tahap pengkhianatan mereka kepada Negara dan Bangsa Melayu.
Tiada masalah bagi Bangsa Melayu memilih wakil mereka ke Parlimen daripada bukan Bangsa Melayu jika mereka amanah menjalankan tanggungjawab tetapi Melayu tidak dapat menerima ketua bukan Melayu kerana belum tentu dia seorang ISLAM. Wakil rakyat bukanlah ketua, hanya sekadar wakil, makanya tidaklah menjadi kafir jika memilih wakil bukan Melayu.
agree with jamal. these rating agencies only provide 1-D ratings for the use of speculators who only cares for short-term profits instead of long-term wellbeing.
if they really want to invest, there’s no need for these rating agencies. they only need to do fundamental analysis on the companies they want to invest in. it should provide enough info for them to make their decisions.
look what happened to greece after they have been rated down.
p/s: how convenient is the timing of greece predicament when goldman sachs (who has been covering up greece’s debt all this while) is under congress scrutiny. perhaps to shift people’s attention away from them?
Assalamualaikum Tun, semoga sihat selalu insya’allah.
Bullseye Tun, no difference between the computer aided stock market and these rating agencies. They just follow the master’s voice. You might want to include those accounting firms too, for they are known too well to plug leaky sh.t/sheets . Forgive my french..
Salam
Salam Sejahtera kepada Tun dan Kelauarga.
Tun talking about this rating agencies, I vehemently would like to assert that these agencies are simply the tools of famous and the rich.
Look what the poor country gets. we did the hard menial works but who gain,definitely the rich and famous.Another words they get the rewards from the thin air.
What we can say it is a form of collusion between them.The rich will become richer the poor will become poorer.Especially the Islamic world.
That is the very story is all about,nothing else!
What im trying to suggest here is that we have to expedite the use of gold dinar among the Islamic World.
During Pak Lah’s governance the move seems to be hampered.I guess during DS Najib this wise move must be rejuvenated.
Thank You Tun May Allah Bless you with Jannah.
Salam YAB Tun,
Janganlah kita suka mendengar dan mudah terpengaruh dengan kata-kata penyair-penyair upahan, tukang-tukan karut, tukang-tukang gosip atau ahli-ahli majlis mesyuarat tingkap.
Ingatlah bahawa segala yang berharga dan bernilai (seperti berlian dan emas) itu tempatnya tersembunyi bukannya bersepah-sepah (seperti batu dan pasir).
Mereka hanya menyeru kita melalui syair-syair mereka dan kita sebenarnya yang memperkenankan seruan dan ajakan mereka. Jadi kita sebenarnya yang telah menzalimi diri kita sendiri kerana mudah terhasut oleh kata-kata mereka.
Jika kita mengikut kebanyakan orang di atas dunia ini, kita akan mudah disesatkan kerana kita malas mengunakan pendengaran, penglihatan dan gerak hati kita sendiri.
Wassalam.
SALAM BUAT TUN BERDUA MOGA DIRAHMATI ALLAH S.W.T.
1) RIMBA EMAS SENDIRI TIDAK AKAN TAHU APA YANG AKAN BERLAKU ESOK HARI, SETIAP DETIK, SETIAP SAAT PASTI ADA SAHAJA BENDA BOLEH BERLAKU DAN BERUBAH INI TERMASUKLAH UMUR KITA SEMAKIN TUA.
2) MAKSUTNYA TIADA BENDA YANG AKAN KEKAL DAN BAGI UMAT ISLAM KEPERCAYAAN HANYA ALLAH S.W.T YANG MAHA HIDUP UNTUK SELAMA-LAMANYA.
3) JADI UNTUK MENETAPKAN SESUATU PERKARA SEPERTI PENGKELASAN INI (RATING) AMAT PERLU SUPAYA KITA BOLEH MEMASTIKAN PERKARA-PERKARA CONTOHNYA YANG BAIK KITA SENTIASA KEKALKAN.
3) CUMA NILAIAAN HANYALAH KEPADA SESUATU YANG KHUSUS SAHAJA BUKAN PADA KESURUHANNYA KERANA SEPERTI JUGA KEJADIAN DIRI KITA TIDAK SEMUANYA AKAN TEPAT (PERFECT).
4) SEBAGAI CONTOH KALAU SESUATU AGENCY PENILAI MENGATAKAN NEGARA CHINA SEKARANG SEDANG MELONJAK UNTUK MENJADI SUATU KUASA BESAR DAN DIBUKTIKAN DENGAN KADAR-KADAR PETUNJUK SEPERTI KDNK DAN LAIN-LAIN LAGI INI BOLEH MENJADI SATU PANDUAN UNTUK KITA MENYELIDIKI DARI BERBAGAI SUMBER ILMU.
5) JADI KALAU SESEORANG YANG BUKAN BERAGAMA ISLAM TETAPI MEMPUNYAI KELULUSAN PHD DALAM BIDANG EKONOMI DARI SESUATU UNIVERSITY DIPILIH AKAN MEMBERI PENDAPATNYA. MAKA ILMU ITULAH YANG AKAN DI GUNA PAKAI OLEH NEGARA ITU.
6) WALAU PUN PENDAPATNYA DITERIMA OLEH KERAJAAN ITU TETAPI TIDAK SEMESTINYA BOLEH DITERIMA OLEH INDIVIDU-INDIVIDU YANG MEWAKILI RAKYAT BERBAGAI BANGSA DAN AGAMA.
7) ADA BEZA TERHADAP KEPERCAYAAN SESEORANG ITU TERHADAP ILMU YANG DI PELAJARINYA MALAH BAGI DIRI RIMBA EMAS SENDIRI MASIH MENGGANGAP ILMU AL-QURANLAH YANG TERBAIK SEKALI DARI ILMU PENULISAN MANUSIA DAN KELULUSAN TERUS DARI ALLAH S.W.T ADALAH TERBAIK DARI UNIVERSITI SEPERTI AL-AZHAR ATAU YANG LAIN-LAINNYA.
8) NAMUN KEADILANNYA HANYA AKAN TERBUKTI PADA HARI PENGADILAN OLEH ALLAH S.W.T TERHADAP INSAN-INSAN YANG DICIPTANYA.
WALLAHU’ALAM
Dear Tun,
Much of the global financial disaster that we went through are in part largely due to rating agencies. A good rating conveys confidence in entity under examination and a bad rating will invariably spell disaster as seen in the Greek bonds.
However it must be noted that these rating system is not wholly accurate and infallible. Good companies go under because of bad ratings and bad derivatives given good ratings allow certain individuals/entities make tonnes of money at the expense of Main street. This imbalance must be supervised and regulated by government agencies concerned, as not to allow the greed of the few cause a financial tsunami to the many. The government must be vigilant and keep up with the many financial gimmickry being churned out by Wall Street everyday.
As for Malaysia, I hope the authorities study and understand the underlying issues in this current financial disaster or we’ll be doomed to repeat the mistakes our Western counterparts had made.
Assalammualaikum.
Dear Tun,
These rating agencies are similar to credit rating agencies over here.. just out of the blue, suddenly you found out that you have been blacklisted due the credit rating agencies !
as a business.. suddenly you found out a rating agency named moody (even the name is ridiculous) have downgraded your company to B- rating or “sell”
who are these people who deemed to know more than you about your own business!
another business that is more in the blood sucking line.
Warm regards.
Dear Tun,
Do you have own Rating mechanism in place? Even if we have, our will just be as bias and indulging in self praise.
So what do we do? Do with what is available.I am sure some of the shortcoming reported are valid while other are not.
Work on the valid shortcoming and ignore the rest. Then we improve.
Don’t waste your time hitting back and be so prejudiced as to write
off everthing just because you have an axe to grind.
Dear Tun,
1) U r absolutely right, credit rating is another system conceived by Rich Western Countries to wrack havoc as would be the stock market.
2) Why r we following this ill conceived & intangible products & services at negative impact to the financial system?
3) I do hope Tun would lead the change. Tun has done that before during 1997 crisis, I believe Tun can do it again!
4) Credit card is another Western thing to bring down human kind and countries. I was told the total debt by Spain is 150% of the annual GDP. This is unbelievable.
5) The only legal tender in any countries is currency note, real hard cash used to purchase tangible products and services.
6) Westerner created credit card, a new instrument as an alternative to cash to buy tangible products and services. To me this is an illegal “currency” created to enrich the banks. This is NO different from printing and circulating more “illegal currency notes”
7) Another Western product is SMS. Today, we abated with the westerner to allow our consumers to be deceived into parting with their money knowingly and most if the time unknowingly.
8) Consumer would be made to pay for SMS’s sent or received. The transaction again is not supported with hard and cold currency notes. I wonder how these internet companies can be allowed to use their illegal “currency” to do any transaction.
9) All these western products are eroding our humanity and creating a culture and life style that is not sustainable.
10) I’m looking forward to TUN to lead the change. Stop all credit card and SMS billing transaction that is not backed by HARD and COLD currency for a simple reason. Currency is our legal tender, the rest are fictitious and imaginary and not real.
11) This is only way to rid our country of the unwanted ill-conceived banking, financial and business practices.
To take the lead, I hereby conduct ALL of my purchases for only tangible PRODUCTS and SERVICES and only in HARD and COLD cash.
I do hope Tun would take the lead as well. Malaysia will be much less susceptible to the illnesses and malpractices of the WEST.
Rdgs,
Guinness
Dear Tun,
1. Thank you for the good insight. Rating agencies to the financial market is as bothersome yet enticing as tabloids to the entertainment industry. I believe Financial Market will be one of our National Key Economic Areas (NKEAs). If it is, we should really take precautions.
2. Talking about Malaysia’s goal to reach high income status, somebody told me that the national growth projection discounts any economic disturbance. We all know that historically and statistically, economic disturbance does happen. In determining national growth projection, economic disturbance should be projected and precautionary measures should be outlined.
Dear Tun,
Sometimes the rating agencies are wrong; our universities should have been rated much lower.
You said power corrupts; you are right.
like you says, they might mislead and might not! Example, OSK always says goodies on YTL…
Dear Tun,
The rating agencies presently are inadequate. They provide only one dimensional ratings…..mostly for short-term investor aka speculators aka gamblers.
Need we say more?
They are also cause self fulfilling prophecies to happen.
Cheers and to your good health Tun.
Y.Bhg Tun,
Rating ………….hanya menguntungkan negara maju sahaja. Belum pernah lagi saya baca berita/suratkhabar dalam dunia menceritakan kebaikan negara kita. Paling banyak mereka hanya mengutuk dan mencari keburukkan sahaja.
Dear Tun,
The same thing is happening with higher education system. The rating agencies are either wrong or influenced, but somehow, we have to agree and follow their rules as they are portraying our IHL systems internationally.
Hello Tun,
Those who have no job needs to create job for themselves. The society has become so complicated that anyone can earn by any means. Those who are involved in the ratings just want to earn their living. We cannot blame them for that. When more people believe what they are doing, their influence increases. So what should we do?
We should play the same game. As the saying goes, if you cannot beat them, join them. Have our own rating and get our community to engage and support it. We will set our own rating criteria favorable to our condition and situation. The world community will not have much choice to resist because we should be deemed as more well versed of our own backyard.
Thank you