Bumiputera Malaysia

Bumiputera Malaysia

By a Malaysian for his country

Sunday, January 21, 2007

Abdullah's Islam Hadhari government is destroying Malaysia

The mentally-challenged Malaysian Prime Minister Abdullah Ahmad Badawi is driving the country into a disasterous economic bankcruptcy. In his most embarassing 9th Malaysia Plan (9MP), the country's economy was projected to grow steadily at 6% annually in order for Malaysia to become a fully-developed country by the year 2020.

But under Abdullah's idiotic Islam Hadhari administration, Malaysia only managed to achieve a 5.8 % growth in 2006 and for 2007, the projected growth for the country is only 5.2 %. Two consecutive years of lower-than-projected growth for the nation.

In stark contrast, the KLSE has reached 1139 points and is still going north. The run-up in the KLSE has nothing to do with Malaysia's economic fundamentals anymore. Huge amounts of dollar-based hot money are now flowing into the region, hoping to make gains from the weakening dollar and pushing up stock prices at the same time. When this hot money exits the scene, the KLSE bull will collapse.

Thailand has taken aggressive proactive steps and slammed foreign speculators with a 12-month retention of 30% of all funds invested in stocks, real estate, bonds and foreign currency borrowings.

But in Malaysia, Abdullah's Ministry of Finance and the central bank, Bank Negara Malaysia are conducting meetings with the hot money scam operators who have proposed borrowing USD$50 billion to fund Abdullah Ahmad Badawi's projects, of which some of them are pathetically stupid.

The sleepy Malaysian Prime Minister is destroying the country.