Menu Close

Tag: 1MDB (page 1 of 11)

Policy Chat over Curry Noodles

Good morrning. No Parliament today, so I am in my office to catch up with the rest of the officers and interns. I will give a lecture and take them to lunch. Since this budget session started I have not been to the office, except once two weeks ago. I will be getting an update on our Bulan Kebajikan and also research by interns.

I also dropped by to consume my favourite neighbourhood curry noodle at Teik Kee. I had a long chat with a few of my constituents over breakfast. The topics of gripe are GST, 1MDB, and durians that nobody can afford to eat any more. In this posting I am gonna talk about durians.

Musang King prices have dropped recently to around RM50/kilo but consumer sentiment has turned off completely when it hit RM125/kilo. The overall negative consumer sentiment has yet to recover since. In addition to being too expensive there is also an overwhelming feeling that we are getting second grade durians and that the best are exported to Singapore, HK and China. This kind of consumer resentment coupled by yoyo pricing is causing unhappiness to both producers and consumers.

What can we do as a policy to ensure fair durian prices and to stop the yoyo pricing? If we leave it to “free market” no Malaysians will be able to afford to eat durians. To make any policy work, we need to first gather accurate big data. In fact a lot of data; from total production volume, locality of old and new farms, seasonal pricing, to domestic and international consumption patterns. We also need to understand and keep up with changes in the industry. For instance, the widespread use of instant freezing technology can impact the supply of durians, hence its pricing too.

What we then need to do is to match supply and local demand, and by adjusting export tarriff of durians, the government can discourage or encourage the exports of durian. This will ensure that Malaysians can at least afford to taste our national fruit. By deploying this simple mechanism and testing it over a period of one to two years, we can then create a predictive model for optimal results that benefit both producers and consumers.

RTM Interview, Who Knew

A very strange day today. I did an RTM interview at 2.15 pm in Parliament with Tan Sri Shahrir Samad and Tan Sri Khalid Ibrahim. This was suppose to be about Najib’s Budget 2018 but after 5 minutes, it turned out to be more about Pakatan Harapan Alternative Budget. It clearly shows that they are really worried about our budget and economic policies.

The two Tan Sris tried to gang up, working as a tag team. I dismissed their attacks as political, stressing that my position is based on good data and not political spin. I think I answered their questions clearly, dismantling one by one, their arguments. In one bizarre moment, after I explained the math on how to calculate corruption at RM20 to RM25 billion a year, Tan Sri Sharir commented to the RTM crew to edit that segment out.

We shall see what will finally be aired at 8.30 pm tonight at RTM1.

I must say that the RTM camera crew were really nice, and have a more relaxed and open attitude. They openly requested to take photos with me after the show.

Is this Malaysia’s moment of “Perestroika”? Let’s hope so. On my part, I really don’t want to get these hardworking civil servants into unnecessary trouble. As such, I was very diplomatic not to mention 1MDB, because even if I did, they would have no choice but to edit any of my 1MDB comments out.

Netizens’ Disatisfaction Shown

Najib (MO1) is announcing a very, very, very long list of goodies for everyone.

Christmas has come early! But who is going to pay for this? More importantly, we all can trust Santa Claus not to steal any of the toys that he is delivering, the question is can we trust this 1MDB Advisor to do the same?

YB Manivanan Gowin just sent me some snapshots of people following MO1’s speech on RTM and Awani websites. It is so funny to see how angry people are flooding in hate icons on livestream.

On another funny note, while tabling goodies for women, someone shouted “pink diamond for all women!”

Lanterns, Gazebos and Hannah Yeoh ft. 1MDB

Good morning. Last night I attended the lantern festival at ss15 Subang Jaya. YB Hannah Yeoh officiated a new gazebo/wakaf there, which was professionally done.

The contractor, Azura has been most impressive in her work. Upon the recommendation from Hannah’s office, we tried her for two small community projects. She did both jobs very well. Community leaders were also very impressed by the friendliness and quality of work. Score one for women entrepreneurs!

I also attended YB Charles Santiago’s 1MDB talk in Klang. I was asked last minute to takeover Tony Pua’s slot. I talked about my first 1MDB press statement on 1st May 2013, just before GE13. A trip down memory lane when the UK Financial Times interviewed me on the Goldman Sachs bond issue for 1MDB.

Little did anyone know then in 2013, the size of the 1MDB scandal. Back then I was concerned about the obscenely generous fees to Goldman. Since then we have learnt everything from pink diamonds, high end mansions and apartments, mega yatch, private jet…billions stolen! DPM sacked, AG removed. We can’t even mention the word 1MDB in Parliament.

I want to thank YB Charles for arm twisting me to talk about 1MDB last night. It jolted back many memories. Malaysians must never forget what MO1 has done to wreck our democracy, crashed the ringgit and stagnate our economy.

My first ever 1MDB interview is here:

https://www.ft.com/con…/ed31cbde-b222-11e2-8540-00144feabdc0

Monday Night Chat with Wong Chen: Episode 37

Good evening team! On tonight’s #MondayNightChat with Wong Chen, YB will be:
(1) Answering the billion dollar question of why are the rakyat not angry about the 1MDB scandal, for Policy Monday; and
(2) Discussing his opinions on Tan Sri Mohd Isa Abdul Samad’s arrest, Menteri Besar of Selangor’s negotiation with PAS, and his holiday (sort of) in Penang (spoiler alert: he ate a lot of good food but neglected to tapao some for his diligent staff), for Q&A.

We also have a special farewell segment for our intern Paul Mae—Boss said bye, she said bye, we then cried (in our hearts). She left the office last Friday, but we already miss her like crazy!

Skip to the timestamps below for the following segments:
00:15 – Policy Monday
03:42 – Q&A
07:54 – Farewell Paul Mae!