Category: Economy

Malaysians should save democracy in Malaysia by ensuring Dr. Mahathir Mohamed wins only a slim Parliamentary majority in the next general elections with Barisan getting about 100-110 seats out of a total of 180

Speech by Parliamentary opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at a DAP public forum on “Post-NEP and Policies for the 1990s” held at Federal Hotel, Kuala Lumpur on Sunday, 24.9.1989 at 9 a.m.

Malaysians should save democracy in Malaysia by ensuring Dr. Mahathir Mohamed wins only a slim Parliamentary majority in the next general elections with Barisan getting about 100-110 seats out of a total of 180

I flew into Kuala Lumpur from Kuching only late last night because if flight hitches, after a five-day visit to various of Sarawak. I brought back from my Sarawak trip two impressions which is symbolic of two decades of the New Economic Policy. Continue reading Malaysians should save democracy in Malaysia by ensuring Dr. Mahathir Mohamed wins only a slim Parliamentary majority in the next general elections with Barisan getting about 100-110 seats out of a total of 180

DAP calls for the Economic Summit of political leaders, employer representative and trade union leaders to face the ecomonic crisis and over come the crisis of confidence crippling economic recovery in Malaysia

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP For Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, at the opening of the Perak DAP State Convention in Ipoh on Sunday, Nov. 30, 1986 at 10 a.m.

DAP calls for the Economic Summit of political leaders, employer representative and trade union leaders to face the ecomonic crisis and over come the crisis of confidence crippling economic recovery in Malaysia.

We are entering the fourth month after the August 3 general elections which returned the Barisan Nasional, Datuk Seri Dr. Mahathir Mohamed, admitted at the September UMNO General Assembly that he called early general elections to end the crisis of confidence undermining economic recovery, the Barisan Nasional’s fourth-fifth parliamentary victory had not ended, but compounded the crisis of confidence in the country. Continue reading DAP calls for the Economic Summit of political leaders, employer representative and trade union leaders to face the ecomonic crisis and over come the crisis of confidence crippling economic recovery in Malaysia

Daim Zainuddin’s 1987 Budget cannot manage Malaysia’s deepening economic crisis as it does not inspire Malaysians that the Government is prepared to recognize and resolve the Crisis of Confidence in the country

Speech by Parliamentary Opposition Leader, DAP Secretary-General. MP for Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, in the Dewan Rakyat on the 1987 Budget on Monday, Oct. 27, 1986

Daim Zainuddin’s 1987 Budget cannot manage Malaysia’s deepening economic crisis as it does not inspire Malaysians that the Government is prepared to recognize and resolve the Crisis of Confidence in the country

On Budget day, on Friday, Oct 24, the Finance Minister, Daim Zainuddin, painted a bleak and gloomy picture of Malaysian economy. The Finance Minister said Malaysians must be prepared for a period of low growth in real output for the next few years. Because of the drastic falls in prices of primary commodities, we would receive about $5,900 million less in export earnings from our primary commodities compared to 1985. Continue reading Daim Zainuddin’s 1987 Budget cannot manage Malaysia’s deepening economic crisis as it does not inspire Malaysians that the Government is prepared to recognize and resolve the Crisis of Confidence in the country

Dr. Mahathir should not just concentrate on attracting foreign investment, but even more important, on attracting domestic investment as well

By Parliamentary Opposition Leader, DAP Secretary- General, MP for Tanjung and Assemblymen for Kampong Kolam, Lim Kit Siang, in Malacca on Wednesday, 24.9.1986:

Dr. Mahathir should not just concentrate on attracting foreign investment, but even more important, on attracting domestic investment as well.

The Prime Minister, Datuk Seri Mahathir Mohamed, indicated yesterday that the Government will introduce “radical changes” to attract foreign investment to the country and provide a boost to the sluggish economy. Continue reading Dr. Mahathir should not just concentrate on attracting foreign investment, but even more important, on attracting domestic investment as well

When Malaysian government has to start talking about retrenching government servants, it should start retrenching Ministers and deputy Ministers first

Speech (Part II) by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung and Asemblyman for Penang on Sunday, Sept.14, 1986 at the DAP Introduction Ceremony for 400 new members at Anson road, Penang at 3 pm.

When Malaysian government has to start talking about retrenching government servants, it should start retrenching Ministers and deputy Ministers first

Energy, telecommunications and posts Minister, Datuk Leo Moggie, told civil servants yesterday not to take it for granted that they could not be retrenched. Continue reading When Malaysian government has to start talking about retrenching government servants, it should start retrenching Ministers and deputy Ministers first

Minister who asks the people not to worry about declining commodity prices is not fit to be Primary Industries Minister

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjong and Assemblyman for Kampong Kolam, Lim Kit Siang, at the thanks-the-voters ceramah organised by Taiping DAP Branch on Monday, 18.8.1986 at 9 pm

Minister who asks the people not to worry about declining commodity prices is not fit to be Primary Industries Minister

Immediately after the August 3 general elections, Gerakan President, Dr. Lim Keng Yaik said that with the DAP’s improved performance in the elections, the voice and influence of the Chinese in Government had been eroded. Continue reading Minister who asks the people not to worry about declining commodity prices is not fit to be Primary Industries Minister

The new guidelines on 51% shares of new issues reserved to bumiputras which shows the government can change rules midstream is reason why lack of private investor confidence

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Kota Melaka, Lim Kit Siang, in the Committee Stage for 1986 estimates for Ministry of Trade and Industry in Dewan Rakyat on Tuesday, 19.11.1985

The new guidelines on 51% shares of new issues reserved to bumiputras which shows the government can change rules midstream is reason why lack of private investor confidence

The government has lamented that the private sector had failed as an ‘engine of growth’, as it had placed great reliance on the private sector to lift the Malaysian economy out of the recession and doldrums. Continue reading The new guidelines on 51% shares of new issues reserved to bumiputras which shows the government can change rules midstream is reason why lack of private investor confidence

DAP opposes the new Ministry of Trade and Industry guideline requiring 51 per cent of new shares offered in public issue to bumiputras as new and unwarranted extensions of NEP policy of quotas and percentages

By Parliamentary Opposition Leaders, DAP Secretary-General and MP for Kota Melaka, Lim Kit Siang, in Malacca on Thursday, Nov 7. 1985:

DAP opposes the new Ministry of Trade and Industry guideline requiring 51 per cent of new shares offered in public issue to bumiputras as new and unwarranted extensions of NEP policy of quotas and percentages.

The Ministry of Trade and Industry has announced a new regulation requiring 51 per cent of new shares offered in a public issue to be reserved to bumiputras. Continue reading DAP opposes the new Ministry of Trade and Industry guideline requiring 51 per cent of new shares offered in public issue to bumiputras as new and unwarranted extensions of NEP policy of quotas and percentages

DAP calls on Finance Minister, Daim Zainuddin, to announce in tomorrow’s Budget Speech the establishment of a $50 million Salvage Fund to help and save the depositors of Setia Timur Credit & Leasing (M) Sdn. Bhd.

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Kota Melaka, Lim Kit Siang, at the Dewan Rakyat on Thursday, 24th Oct. 1985 on the Finance Companies Amendment Bill 1985

DAP calls on Finance Minister, Daim Zainuddin, to announce in tomorrow’s Budget Speech the establishment of a $50 million Salvage Fund to help and save the depositors of Setia Timur Credit & Leasing (M) Sdn. Bhd.

Yesterday, during the debate on the amendments to the Banking Act, the DAP Chairman and MP for Seremban, Dr. Chen Man Hin and I spoke about the Setia Timur crisis, where around 13,000 to 15,000 depositors who had deposited some $40 to $50 million in Setia Timur Credit & Leasing (M) Sdn. Bhd., are unable to get their monies back. Continue reading DAP calls on Finance Minister, Daim Zainuddin, to announce in tomorrow’s Budget Speech the establishment of a $50 million Salvage Fund to help and save the depositors of Setia Timur Credit & Leasing (M) Sdn. Bhd.

MAS shares and the NEP

The government has lamented that the private sector had failed as an ‘engine of growth’, as it had placed great reliance on the private sector to lift the Malaysian economy out of the recession and doldrums.

However, the government should take a deeper look at the problem as to why there appears to be a lack of private investor confidence in Malaysia. The government has announced a review and proposed changes to the Industrial Co-ordination Act. When the DAP warned in the 1970s that the ICA is the greatest dampener of domestic private investment, this was disputed by the Barisan Nasional government. Now, the government had to admit that what the DAP had been saying for the last decade was correct.
Continue reading MAS shares and the NEP