The Many Faces of Christmas 2009

I have scouted for pictures. These are great and bring on the mood of the yuletide spirit. Have yourself a blessed Christmas and may the new year brings wondrous joy to you!

AS1M-Poor Product,Poor Response?

This will be the third time that the subscription of the Amanah Saham 1Malaysia (AS1M) share trust units managed by Permodalan Nasional Bhd (PNB) has been extended. The current deadline is December 31, 2009.

PNB Group CEO,Hamad Kama Piah Che Othman, said the extension, given according to the community allocation, will be third after the Sept 30, and Dec 31, 2009 deadlines.

To date, a total of 3.06 billion units of the AS1M have been subscribed by 235,288 investors. So far, 85 per cent of the quota given to the Chinese community has been subscribed, while another 21 per cent of the quota for Indian investors have been bought.

PNB said it will have road shows nationwide to promote the AS1M, beginning with Perak and Sarawak in January. Promotions will be also carried out in Sabah, Terengganu, Pahang and Melaka.

AS1M, a fixed price fund with a size of RM10 billion units, was launched on July 31 this year by Prime Minister Datuk Seri Najib Tun Razak. It is opened to all Malaysians with an allocation of 50 per cent for Bumiputera, 30 per cent for the Chinese community, 15 per cent for the Indian community and five per cent for others.

The silence on the uptake of the Bumiputra portion of AS1M is deafening!

Malaysia: New Currency Declaration Rule

Hot on the heels of the illegal transfer of huge amounts of cash out of the country, johnny-come-lately Bank Negara Malaysia is just warming up to the issue.

As usual, they use lofty terms to premise their belated actions.

In line with the global effort to combat money-laundering and terrorism financing, BNM has now issued a new currency declaration requirement at all entry and exit points in the country.

As usch, effective January 1,2010, travellers entering or leaving Malaysia with cash and/or negotiable bearer instruments (traveller’s cheques, bearer cheques) exceeding US$10,000 (RM34,000) must make a declaration in form Customs No. 22.

“The forms will be available at counters located before the Customs checkpoints at all entry and exit points of the country.

“Travellers could be fined up to RM1mil and/or face imprisonment not exceeding a term of one year if they fail to declare or make a false declaration,” it said in a statement here yesterday.

BNM said this was required under section 23 of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 and was in line with the Special Recommendation IX by the Financial Action Task Force which required countries to have measures in place to detect physical cross-border transportation of cash and negotiable bearer instruments.

“This new requirement is in line with global efforts to combat money-laundering and terrorist financing activities.

“Canada, Britain, Australia, New Zealand, Japan, Philippines and Singapore have adopted the same declaration requirement,” it said.

But why now, when a sitting Chief Minister and other wealthy individuals have absconded with so much money?

But there is Santa Claus!

Eight-year-old Virginia O'Hanlon wrote a letter to the editor of New York's Sun, and the quick response was printed as an unsigned editorial Sept. 21, 1897. The work of veteran newsman Francis Pharcellus Church has since become history's most reprinted newspaper editorial, appearing in part or whole in dozens of languages in books, movies, and other editorials, and on posters and stamps.

"DEAR EDITOR: I am 8 years old.
"Some of my little friends say there is no Santa Claus.
"Papa says, 'If you see it in THE SUN it's so.'
"Please tell me the truth; is there a Santa Claus?

"VIRGINIA O'HANLON.
"115 WEST NINETY-FIFTH STREET."

VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men's or children's, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.

Yes, VIRGINIA, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Santa Claus. It would be as dreary as if there were no VIRGINIAS. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished.

Not believe in Santa Claus! You might as well not believe in fairies! You might get your papa to hire men to watch in all the chimneys on Christmas Eve to catch Santa Claus, but even if they did not see Santa Claus coming down, what would that prove? Nobody sees Santa Claus, but that is no sign that there is no Santa Claus. The most real things in the world are those that neither children nor men can see. Did you ever see fairies dancing on the lawn? Of course not, but that's no proof that they are not there. Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world.

You may tear apart the baby's rattle and see what makes the noise inside, but there is a veil covering the unseen world which not the strongest man, nor even the united strength of all the strongest men that ever lived, could tear apart. Only faith, fancy, poetry, love, romance, can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, VIRGINIA, in all this world there is nothing else real and abiding.

No Santa Claus! Thank God! he lives, and he lives forever. A thousand years from now, Virginia, nay, ten times ten thousand years from now, he will continue to make glad the heart of childhood.

A Splash of Cool Water

This is a great graphic presentation of the effects of a splash of cool water on a hot humid day.


Enjoy!

Najib: What He Said in 2009

Bernama has deemed it fit to list down all the important pronouncements of Premier Najib in 2009.

I append the article in toto.

The year 2009 has opened a new chapter for PM Najib who took over the country’s leadership in April. As the new prime minister, every speech, directive and comment made has claimed attention from the masses. Below are some of the interesting quotes by the prime minister this year.

• I urge us to rise to the challenge of building a 1 Malaysia. People First. Performance Now. (April 3: On assuming office as the sixth prime minister)

• BN will keep the promises and we will deliver them. We will do away with the practice of announcing “instant noodle” projects during elections. If certain projects would benefit the people and we had promised that to them or committed on them in the elections, we will definitely implement them. (April 5: Commenting on the Bukit Selambau, Bukit Gantang and Batang Ai by-elections results)

• I don’t crave power for the sake of power but I need power to serve the people and ensure successful nation building. (May 20: Addressing a farewell reception at the Finance Ministry)

• The 1 Malaysia is not a new concept or formula but its ultimate objective is national unity, which is the primary vision of previous administrators translated into various forms over the last five decades or so.

• In other words, 1 Malaysia is a concept to foster unity in Malaysians of all races based on several important values which should become the practice of every Malaysian. (June 15: Replying on the 1 Malaysia concept during question time in the Dewan Rakyat)

• “We need not carry the label ‘development with Islam’ because we have been championing the cause of Islam for a long time and had provided a prosperous life to Muslims because we don’t want the Muslims to be poor and without strength. (10/9: at a breaking of fast at Felda Teloi Timor)

• I’ve gone to several places to meet the people. As leaders, if we go visiting without protocol and without the red-carpet welcome, the bunga manggar or any special reception, but we sit down with the people over drinks and hear their problems, the people will remain with us (13/9: speaking in Tawa at a breaking of fast and handing-over of charity contributions to orphans and the poor.)

• I would like to see that we all have a sense of belonging in Malaysia, irrespective of our race, and feel that this is our country. This is our birthplace, this is the country that we will give our undivided loyalty and commitment to. If we can have the resolve, it means we have already reached the stage of embracing the 1 Malaysia concept. I always say “One Dream, One People, One Nation.(13/10:exclusive interview with Bernama in conjunction with the 2009 Umno General Assembly)

• Umno should be seen, regarded and trusted as a party that is capable of looking after the lot of the people. Umno cannot be seen as a party which is only passionate about struggling for the interest of a small group. Instead, we want Umno to be seen, felt and fully trusted as a party that is inclusive and that puts the interests of the people before personal interests. Therefore, the perception that Umno is a party for people to “cari makan” (earn a living) must be erased and discarded. (15/10: maiden speech as Umno president in conjunction with the 2009 Umno General Assembly)

• Believe it, that our struggle is the right struggle, that our struggle is a true struggle. We are Umno, the one party that brings the flame of hope and is capable of charting a bright future for the people.

• Whatever the challenges, whatever the hurdles, with a mount of hope, we continue this journey with confidence, all dreams will be fulfilled, a drop will become an ocean, a clump will become a mountain. (15/10: maiden speech as Umno president in conjunction with the 2009 Umno General Assembly)

• After we’ve made the amendments, we begin a new journey by leaving behind the negative elements such as money politics, so that we become a clean and respected party. (15/10: maiden speech as Umno president in conjunction with the 2009 Umno General Assembly)

• I have to make a decision in the interests of the BN. I am not merely the president of Umno; I am also the chairman of the BN. I am the prime minister not only for the Malays; I am the prime minister for all Malaysians. (1/11: opening Gerakan national delegates conference)

• We will change for the better. I give you the commitment, we will change for the better. But I ask (that it should be) not only me. Do not just look at the prime minister; we all must reflect the change. We must be like the train. (When) the train is moving ... it cannot be the locomotive alone ... everybody else must work together. (1/11: opening Gerakan national delegates)

• There is no need to bang tables or throw files at them but those who do not perform must be told of their dismal performance and the need for them to improve. (2/11: Prime Minister’s Department staff at its monthly gathering)

• Subsidies is an illness, once you enjoy it, it is hard to give up. (4/11:speaking at Bankers Club Luncheon Talk)

• I believe that as the Prime Minister of all Malaysians, it is vital that I personally supervise the effectuation of the first budget under my administration. (11/11: Blog 1 Malaysia: Implementing the 1 Malaysia Budget)

• I have been saying privately, but I might as well say it publicly, that the thing I liked about President Bush’s foreign policy is that he was very pro-free trade. Frankly I don’t like the other policies, but I like his policy on free trade. (14/11: panel session at the Apec CEO Summit 2009).

• Our diversity must be a blessing if it is not to be a curse (21/11: keynote address to open Asia Society’s Asia 21 Young Leader Summit). — Bernama

The Axiata Road Map

Having spent two years beefing up its foundation, Axiata has its eyes set on becoming the first among equals in the regional telecommunications scene by 2015.

Since its spin-off from Telekom Malaysia, Axiata has embarked on a strategy aimed at transforming itself into a top regional mobile operator group.

The road map and journey is split into three phases.

The first phase, which has been completed, was about setting the foundations right.

The second phase, which will be implemented between 2010 and 2012,will have Axiara competing on par with its regional peers such as SingTel and Hutchison.

The third phase beginning from 2013 to 2015 will be delivery day to become the region's top mobile operator group.

Jamaludin Ibrahim paints his picture like this.

"The second phase is what I call a 'game changing' phase, in terms of financial performance, business model and even the products that we have. Like a football club, we are now promoted, and we will be competing with the big boys in the premier league. Not good enough to be champions yet, but good enough to compete,"

Axiata, which grew its third-quarter and nine-month net profit by 106.5 per cent and 8 per cent to RM503.7 million and RM1.09 billion respectively, assures investors that they can expect better performance from the company in its second phase.

"In general, investors can expect stronger revenue and profit in the second phase. In terms of absolute numbers, Celcom and XL will still be contributing the most. But in terms of growth, we expect Bangladesh and Indonesia to be the key drivers," says Jamaluddin.

The company has allocated not more than RM3.5 billion as capital expenditure (capex) next year, the bulk of it will be for its Indonesian operations. The funds will be generated internally by the operating companies. For 2009, the company allocated some RM4.2 billion for capex.

"The final capex number is not finalised yet, we intend to reduce the amount significantly," said Jamaludin.

For next year, Jamaludin expects competition to remain intense in most of the countries it has operations. However, he said competition in India, Bangladesh and Sri Lanka may be "exceptionally challenging" next year.

"We have competition in Malaysia and Indonesia, but we foresee the potential of increased intensity, beyond what we think is normal, especially in India, Bangladesh and Sri Lanka. We are already seeing it in India, and it may continue or worsen.

"These 'beyond normal' activities include price wars, irrational pricing and others. For example, the Indian telecommunications industry saw its revenue per minute decreasing by roughly 20 per cent within one quarter, that's not normal," explained Jamaludin.

Mobile broadband, which was one of the keys to wholly-owned Celcom (Malaysia) Bhd's successful 14 consecutive quarterly revenue and earnings growth, is expected to play a bigger role in Axiata's other operating companies next year.

"For 2010, apart from the normal business as usual growth, which is through network coverage, we also see growth from mobile broadband. Celcom has been successful with its mobile broadband strategy and by end of this year, we expect 3 to 5 per cent of Celcom's revenue to come from mobile broadband. Now, we are looking at doing the same thing in Indonesia and Sri Lanka.

"Next year, we will be doing mobile broadband in a big way. For example, we will be investing between US$100 million and US$150 million (RM344 million-RM516 million) for mobile broadband in XL alone," he added.

With the investment, XL will be able to cover most key urban areas with the high speed wireless network.

So like a tangram, Axiata is moving direction. If it gets itself right, Axiata will bloom!