Author: Hafiz Noor Shams

For more about me, please read this.

Categories
Economics

[1174] Of straight from the broker: Dialog suspended!

I just received a call informing me that trading of Dialog Group Berhad in the Main Board has been suspended. I was a little bit panic upon hearing the news because I have some holding there. A search on the internet is unhelpful:

Trading in Dialog Group Bhd’s shares was voluntarily suspended early on April 12 ahead of an announcement to be made on the same day.

The share price had risen 12 sen to RM2.09 with 12.25 million shares done before it was suspended at 9.49am.

The company informed Bursa Malaysia Securities that it had requested for a suspension in the trading of its securities until 5pm on April 12. [Dialog suspended ahead of announcement. The Edge Daily. April 12 2007]

Rumor has it that it is going to be good news. As for me, I can only wait patiently.

Earlier, Dialog clinched several contracts earlier and that caused the share to jump for about 40% since late March 2007. I was one of probably many that reacted to the news and profited.

Categories
Liberty

[1173] Of court rulling must be popular?

In The Star yesterday, Minister Nazri Abdul Aziz seemed to suggest that popularity has greater importance than individual rights:

Replying to Karpal Singh’s (DAP — Bukit Gelugor) query on why a decision had yet to be reached in the Lina Joy case, Nazri said:

“The decision is difficult to make as it is very sensitive and we have to consider the consequences. Even if it is made in the right decree, the acceptance may be difficult,” he said at the Dewan Rakyat when winding up the debate on the motion of thanks on the royal address. [Commission to study religious-sensitive cases. The Star. April 11 2007]

In Malaysia, your religion is determined by the mob.

Categories
Economics

[1172] Of pressure for liberalization builds up

The International Herald Tribune, one of many, picks up a report by Associated Press:

KUALA LUMPUR, Malaysia: Foreign funds inflows are keeping Malaysia’s markets on a long rally, but the money is staying in the country because of central bank restrictions and is starting to create economic imbalances, analysts say.

The local currency, the ringgit, is not allowed to be traded offshore, which means currency transactions are limited to within Malaysia. That has created a massive pool of money. [Awash in foreign funds, Malaysia faces economic imbalances over central bank restrictions. AP via IHT. April 8 2007]

Too much many chasing too few capital is a classic, or rather, a textbook recipe for inflation, as mentioned in the same report:

The excess cash in the country is leading to inflationary pressures as there is more money than before, chasing the same amount of goods. [Awash in foreign funds, Malaysia faces economic imbalances over central bank restrictions. AP via IHT. April 8 2007]

Further in the article:

Speculation is now mounting that Bank Negara might eventually lift a curb on the offshore trading of the ringgit that was imposed in 1998 during the Asian financial crisis. [Awash in foreign funds, Malaysia faces economic imbalances over central bank restrictions. AP via IHT. April 8 2007]

It is time to dump our neomercantilist policy in favor of liberal ones.

Categories
Economics

[1171] Of remember Suria Capital?

Yesterday, it opened trading at 68 sen. Today, it closed at 92 sen.

Categories
Environment Society

[1170] Of Kota Damansara Community Forest Park is being threatened

At Wong Chun Wai (via the Malaysian Nature Society):

Many city folk who wanted to live near a green lung bought houses and land to build bungalows, believing that the state government would be committed to protecting the 100-year-old forest.

But residents at Section 8, 9 and 10 now feel cheated. They are also appalled at the eagerness of the state government in wanting to bulldoze through its plans in a high-handed manner without any respect for the views of the affected residents.

First, they were told that a cemetery would be created next to their land and now, to their horror, they found that the Petaling Jaya Structural Plan 2020 has bigger plans to develop the reserve.

[…]

It is already bad enough that the cemetery issue has divided the community — one group that wants the cemetery but most of whom do not live in the area while the other group is the one affected and is understandably against it.

[…]

More importantly, there is a huge track of land in Sungai Buloh already reserved as a burial ground. However, according to Mokhtar, it has been found to be unsuitable for burial. It has been said that the burial ground in several areas have been found to be too rocky but surely the authorities may want to consider remedial work. If an open sea can be reclaimed and mountains removed, surely it would not be an engineering feat.

[…]

It is commendable that the protesters, comprising residents of all races, have stood together despite attempts to use race and religion to break their solidarity.

These residents have expressed their disgust at such shameful tactics by certain individuals to intimidate and coax them into silence.

Elected representatives, regardless of their race or religion, should not tolerate any use of gangsterism to scare off those who do not share their views. It is utterly shameful.

[…]

The affected residents have stated that they are NOT against the setting up of a cemetery but are against the de-gazetting of the forest and the manner it had been carried out. Sadly, the cemetery issue has been used to rally support from some misinformed constituents. [A grave matter. Wong Chun Wai. April 8 2007]

It is disgusting to see how some people use race and religion to de-gazette a forest reserve. The next time the MNS conducts a visit to Kota Damansara, I am going to lend a hand.