It is this people makes biased statements that makes me sick. This fellow, a minister whom I always thought had a higher IQ than most of the current cabinet ministers said that the government will be deemed as perompak (or robbers) if it demands that Independent Power Producers (IPPs) reduce their charge capacity. His point was obviously to protect the interest of IPPs rather than the government or for that matter the rakyat.
When the government announced the fuel hike to RM2.70/litre on 5th June , the global crude oil was at traded at NYMEX for USD135/barrel. It has since rescinded to USD118/barrel on a steady downward trend.
But then when this happens, you don't hear a lot of intellectual statements from him.
So, is the government a perompak, robbing rakyats in this case when it refuses to lower/review the fuel prices at the pumps? So, what good is our domestic trade and consumer goods is good for?
To me, this is like a new found form of TAX that the government is pocketing without many realizing it. Don't you think so?
WTF
Some people really speaks through their ass.
Showing posts with label VRF. Show all posts
Showing posts with label VRF. Show all posts
Monday, August 11, 2008
Friday, July 18, 2008
VRF (2)
Read here from previous posting for context.
Quoting from Forbes, an article on 9th July, which most major newspaper in Malaysia failed to pick up:
Yes, i think we're pretty much sodomised by the government. Now, where is that dubios Malaysian Book of Records?
Quoting from Forbes, an article on 9th July, which most major newspaper in Malaysia failed to pick up:
Malaysia's central bank chief said Wednesday that recent fuel price hikes may push inflation above 6 percent in June, nearly double May's rate and the highest in 26 years.
"This adjustment (in fuel prices) would be reflected in the consumer price inflation in June, which is expected to exceed 6 percent," Bank Negara Malaysia Gov. Zeti Akhtar Aziz told a banking seminar.
Inflation reached a 22-month high of 3.8 percent in May. The last time inflation crossed 6 percent was in May 1982 when it touched 6.1 percent.
The government raised gasoline prices by 41 percent and diesel by 63 percent last month to curb a runaway subsidy bill. It also raised electricity tariffs from July by 18 percent for households and an average 26 percent for commercial and industry users.
Yes, i think we're pretty much sodomised by the government. Now, where is that dubios Malaysian Book of Records?
Wednesday, June 11, 2008
Just 10%?
Ok, I may be late in saying this. But before that, let's get the picture. Due to recent petrol hike from RM1.92/litre to RM2.70/litre (40.7% jump), the government announced some cut-cutting measures.
TheStar reported that the government is putting up a plan to cut-cost that will save RM2billion. Part of this plan was to slash 10% of the monthly entertainment allowances which enjoyed by all ministers. In the report, it says that the Prime Minister currently enjoys a monthly entertainment allowance of RM18,865 while his deputy gets RM15,015. Other ministers and deputy ministers are given RM12,320 and RM6,000, respectively.
To begin with, I think there are more than half of Malaysian are earning below RM6k in their monthly income. A quick look at the number of ministers (source: mycen), there are about 31 ministers and 37 deputy ministers. Now let's adds up RM18,865 + RM15,015 + (31 * RM12,320) + (37 * RM6,000) = RM637,800 monthly entertainment expenses. 10% of it would be RM63,780. Multiply that amount to 12months, you'll get RM765,360. This sum only represents 0.039% of RM2b. I don't really know if it makes a difference and how RM2b was arrived at... or maybe I was just plain wrong with my calculations.
On the other hand, these 70 ministers are eligible to claim RM574,020 as entertainment allowances. Multiply that to 12months, the sum will arrived at RM6,888,240. That is close to RM7million.
So, now we know 10% is just a symbolic cost-cutting measure. It is out of proportion to reduce 10% of entertainment allowances while fuel prices surge 41%. Besides these entertainment allowances, I am sure these 70 daylight penyamun were given petrol or vehicle allowances as well. Who's still the winner at end of the day? Yes, it is those buggers, who asked you to change your lifestyle so that they can go for their holidays paid by you and I.
VRF by our own elected representatives. Clear as the sky.
TheStar reported that the government is putting up a plan to cut-cost that will save RM2billion. Part of this plan was to slash 10% of the monthly entertainment allowances which enjoyed by all ministers. In the report, it says that the Prime Minister currently enjoys a monthly entertainment allowance of RM18,865 while his deputy gets RM15,015. Other ministers and deputy ministers are given RM12,320 and RM6,000, respectively.
To begin with, I think there are more than half of Malaysian are earning below RM6k in their monthly income. A quick look at the number of ministers (source: mycen), there are about 31 ministers and 37 deputy ministers. Now let's adds up RM18,865 + RM15,015 + (31 * RM12,320) + (37 * RM6,000) = RM637,800 monthly entertainment expenses. 10% of it would be RM63,780. Multiply that amount to 12months, you'll get RM765,360. This sum only represents 0.039% of RM2b. I don't really know if it makes a difference and how RM2b was arrived at... or maybe I was just plain wrong with my calculations.
On the other hand, these 70 ministers are eligible to claim RM574,020 as entertainment allowances. Multiply that to 12months, the sum will arrived at RM6,888,240. That is close to RM7million.
So, now we know 10% is just a symbolic cost-cutting measure. It is out of proportion to reduce 10% of entertainment allowances while fuel prices surge 41%. Besides these entertainment allowances, I am sure these 70 daylight penyamun were given petrol or vehicle allowances as well. Who's still the winner at end of the day? Yes, it is those buggers, who asked you to change your lifestyle so that they can go for their holidays paid by you and I.
VRF by our own elected representatives. Clear as the sky.
Friday, June 06, 2008
VRF
If you know the acronym for WTF, figuring out VRF shouldn't be difficult.
Reuters reported that Malaysia's yearly inflation rate will be averaging out 4.5%, well above the central bank's previous forecast of 2.5%-3.0%. In the same context, AFX news reported that official data by the central bank shows that would be the highest inflation for any year since 1998, during the Asian financial crisis, when inflation averaged 5.3%. The central bank governor, Zeti Akhtar Aziz saw inflation rising above 5%in June and peaking around 5.3%early in 2009. The latest official figures showed inflation hit a 15-month high of 3%in April. But she said there was no rush for the central bank to consider raising the policy rate of 3.5%. At its last review on May 26, the central bank left rates on hold. The central bank projected that the inflation in the first half of 2009 would be around 5%, and peaking early in 2009, she said.
In short, since the revise for petrol price, inflation rate will hold on to an average 5% or more from now till next year 2009 June. That's one year for you.
Before the announcement of the revision for petrol price, inflationary rates was already in a 13-mth high at 3% in March 2008 and soared further to 3.5% in April 2008.
Bleak?
A standard fixed deposit interest rate in any local Malaysian banks only provides 3% per annum for 1mth's deposit. If we keep it for 12mths, the bank will give us a 3.5% p.a interest rate.
EPF for the year 2007 announced a dividend payout of 5.8%.
Now, what does all this means to us?
If we keep our money in the bank's FD, we're actually losing at least 2% of our money's worth. In another words, to keep the money with the bank, we're actually giving the bank back with 2%. Which also means, all the hard earned money kept in the bank are almost 'worthless' as these money are losing it's real values.
What about EPF? For all the 'hard work' done by EPF, they're actually earning 0.8% for us.
The last time we had a 5.3% inflationary rate was when the country suffered the 1998 Asian Financial Crisis, and the central bank has projected that early next year 2009, we're going to be hit with that 5.3% inflationary rate.
What does all this means? In short, VRF!
* FD rates in New Zealand & Australia are around 7-9%.
Reuters reported that Malaysia's yearly inflation rate will be averaging out 4.5%, well above the central bank's previous forecast of 2.5%-3.0%. In the same context, AFX news reported that official data by the central bank shows that would be the highest inflation for any year since 1998, during the Asian financial crisis, when inflation averaged 5.3%. The central bank governor, Zeti Akhtar Aziz saw inflation rising above 5%in June and peaking around 5.3%early in 2009. The latest official figures showed inflation hit a 15-month high of 3%in April. But she said there was no rush for the central bank to consider raising the policy rate of 3.5%. At its last review on May 26, the central bank left rates on hold. The central bank projected that the inflation in the first half of 2009 would be around 5%, and peaking early in 2009, she said.
In short, since the revise for petrol price, inflation rate will hold on to an average 5% or more from now till next year 2009 June. That's one year for you.
Before the announcement of the revision for petrol price, inflationary rates was already in a 13-mth high at 3% in March 2008 and soared further to 3.5% in April 2008.
Bleak?
A standard fixed deposit interest rate in any local Malaysian banks only provides 3% per annum for 1mth's deposit. If we keep it for 12mths, the bank will give us a 3.5% p.a interest rate.
EPF for the year 2007 announced a dividend payout of 5.8%.
Now, what does all this means to us?
If we keep our money in the bank's FD, we're actually losing at least 2% of our money's worth. In another words, to keep the money with the bank, we're actually giving the bank back with 2%. Which also means, all the hard earned money kept in the bank are almost 'worthless' as these money are losing it's real values.
What about EPF? For all the 'hard work' done by EPF, they're actually earning 0.8% for us.
The last time we had a 5.3% inflationary rate was when the country suffered the 1998 Asian Financial Crisis, and the central bank has projected that early next year 2009, we're going to be hit with that 5.3% inflationary rate.
What does all this means? In short, VRF!
* FD rates in New Zealand & Australia are around 7-9%.
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