Quote of the Day
"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."
- Peter Lynch
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Monday, May 25, 2009
Quote of the Day
Quote of the Day
"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."
- Peter Lynch
Is the US dollar driving oil prices or vice versa?
In case you haven’t noticed, oil prices have been on a tear. Since the beginning of the year, the price of “liquid gold” has increased by more than 30% from US$43 (RM150) a barrel in January to an intraday high of US$60 in mid-May. Many factors are driving oil prices higher, including improved growth prospects, speculation and the weakness of the US dollar. In addition, the outlook for economic giants the US and China has improved materially over the past month, leading many people to believe that the worst of the global recession is almost over.
US and Chinese economic data, along with comments from central bankers confirm this rosy outlook. Early this month, US Federal Reserve chairman Ben Bernanke told the US Congress that the recession is easing and that growth should take place by year-end. Most other central bankers expect their countries to return to positive growth in 2010. Given that oil prices plummeted in the second half of 2008 because of deleveraging and the fear of a deep recession, the promise of a brighter tomorrow is driving oil prices higher.
However, a slower pace of contraction and the prospect of increased demand are not the only reasons oil prices are higher.
Recent US dollar weakness is contributing to the recovery. Of course, many people will argue that the US dollar is weaker because the US economy is doing better, which is true, but the relationship between oil prices and the US dollar’s value is too significant to ignore.
Since the beginning of 2008, the correlation between oil prices and the US-dollar index has been roughly -0.90. In other words, 90% of the time, when the US-dollar index falls, oil prices rise.
The chart shows the tight correlation between the two instruments. The index is inverted to show the correlation more clearly. Although the correlation broke down from the beginning of January 2009 to end February, it picked up again in March and has remained strong throughout this month.
Is it also possible that the rise in oil prices is driving the US dollar lower and not vice versa? Before exploring this question, we should talk about why a move in the US dollar leads to a move in oil.
Why the US dollar drives oil
Oil is priced in US dollars. According to the Organisation of the Petroleum Exporting Countries (Opec), the relationship between oil prices and the US dollar is almost mechanical. When the US dollar falls in value, oil prices have to go up in US dollar terms to stay constant in euro terms. Oil producers receive their oil revenues in US dollars and need to be compensated for the fluctuations of the greenback. This does not always hold true of course, otherwise the correlation would not have been broken in the beginning of the year.
Why oil drives the US dollar
Yet, we can also argue that rising crude prices are driving the US dollar lower. A study by the International Monetary Fund in 1996 found that a 10% rise in the real price of oil induces a 2% real depreciation in a typical Organisation for Economic Cooperation and Development country’s real exchange rate.
This should not be completely surprising because higher oil prices do result in higher cost of oil imports for the US, leading to a higher current account and trade deficit, which is US-dollar bearish. It also affects growth. When oil prices were nearing US$150 a barrel, gasoline prices in the US went as high as US$4 a gallon or more. It served as a tax on consumers and significantly affected companies.
Remember how airlines had to add fuel surcharges just to stay profitable? These fuel surcharges have since been reversed, but remain fresh in the minds of consumers. Higher oil prices hurt growth, which hurts the outlook of the US economy. Although this is more of a “longer-term” impact, it is one that is worth considering.
Adding to the confusion, central banks’ monetary policies, Opec production levels and speculation all contributed to the previous moves in oil prices. Current and future monetary policies impact both exchange rates and commodity prices because, according to a study done by Professor Jeffrey Frankel of Harvard University in 2006, the rise in oil prices is equal to the long-run real oil price and the real interest rate adjusted by convenience yield (which is the option of having oil).
The relationship between oil prices and the US dollar is both schizophrenic and symbiotic. When oil prices were hitting record highs in July 2008, there is evidence that the price of oil is driving the value of the US dollar because of concerns over the strain it would have on the US economy.
Currently, though, the US dollar appears to be driving the price of oil. The outlook for global demand is not clear and investors are less focused on the impact that higher oil prices can have on trade than its signal of stronger growth
US and Chinese economic data, along with comments from central bankers confirm this rosy outlook. Early this month, US Federal Reserve chairman Ben Bernanke told the US Congress that the recession is easing and that growth should take place by year-end. Most other central bankers expect their countries to return to positive growth in 2010. Given that oil prices plummeted in the second half of 2008 because of deleveraging and the fear of a deep recession, the promise of a brighter tomorrow is driving oil prices higher.
However, a slower pace of contraction and the prospect of increased demand are not the only reasons oil prices are higher.
Recent US dollar weakness is contributing to the recovery. Of course, many people will argue that the US dollar is weaker because the US economy is doing better, which is true, but the relationship between oil prices and the US dollar’s value is too significant to ignore.
Since the beginning of 2008, the correlation between oil prices and the US-dollar index has been roughly -0.90. In other words, 90% of the time, when the US-dollar index falls, oil prices rise.
The chart shows the tight correlation between the two instruments. The index is inverted to show the correlation more clearly. Although the correlation broke down from the beginning of January 2009 to end February, it picked up again in March and has remained strong throughout this month.
Is it also possible that the rise in oil prices is driving the US dollar lower and not vice versa? Before exploring this question, we should talk about why a move in the US dollar leads to a move in oil.
Why the US dollar drives oil
Oil is priced in US dollars. According to the Organisation of the Petroleum Exporting Countries (Opec), the relationship between oil prices and the US dollar is almost mechanical. When the US dollar falls in value, oil prices have to go up in US dollar terms to stay constant in euro terms. Oil producers receive their oil revenues in US dollars and need to be compensated for the fluctuations of the greenback. This does not always hold true of course, otherwise the correlation would not have been broken in the beginning of the year.
Why oil drives the US dollar
Yet, we can also argue that rising crude prices are driving the US dollar lower. A study by the International Monetary Fund in 1996 found that a 10% rise in the real price of oil induces a 2% real depreciation in a typical Organisation for Economic Cooperation and Development country’s real exchange rate.
This should not be completely surprising because higher oil prices do result in higher cost of oil imports for the US, leading to a higher current account and trade deficit, which is US-dollar bearish. It also affects growth. When oil prices were nearing US$150 a barrel, gasoline prices in the US went as high as US$4 a gallon or more. It served as a tax on consumers and significantly affected companies.
Remember how airlines had to add fuel surcharges just to stay profitable? These fuel surcharges have since been reversed, but remain fresh in the minds of consumers. Higher oil prices hurt growth, which hurts the outlook of the US economy. Although this is more of a “longer-term” impact, it is one that is worth considering.
Adding to the confusion, central banks’ monetary policies, Opec production levels and speculation all contributed to the previous moves in oil prices. Current and future monetary policies impact both exchange rates and commodity prices because, according to a study done by Professor Jeffrey Frankel of Harvard University in 2006, the rise in oil prices is equal to the long-run real oil price and the real interest rate adjusted by convenience yield (which is the option of having oil).
The relationship between oil prices and the US dollar is both schizophrenic and symbiotic. When oil prices were hitting record highs in July 2008, there is evidence that the price of oil is driving the value of the US dollar because of concerns over the strain it would have on the US economy.
Currently, though, the US dollar appears to be driving the price of oil. The outlook for global demand is not clear and investors are less focused on the impact that higher oil prices can have on trade than its signal of stronger growth
Malaysia sex trade reaping RM3 billion in 2008
Sex trade is illegal in Malaysia but that didn’t stop it from reaping whooping RM3 billion profits last year according to Tenaganita a non-governmental organisation.
Tenaganita estimated that the number of prostitutes in the country at least 150,000 with more than 10,000 operating in the Klang Valley alone.
A prostitute monthly earning easily surpassing that of a minister, university professor or high ranking government officers.
Charging an average of RM150 an hour, eight client per day, working seven-day a week, a prostitute ends up making RM36,000 a month said Aegile Fernandez, Tenaganita anti-human trafficking coordinator.
“Serving an average of eight clients a day, she ends up making RM1,200 daily and possibly RM36,000 a month,” she said.
According to Aegile, syndicates that run brothels usually have up to 100 girls under them.
Tenaganita estimated that the number of prostitutes in the country at least 150,000 with more than 10,000 operating in the Klang Valley alone.
A prostitute monthly earning easily surpassing that of a minister, university professor or high ranking government officers.
Charging an average of RM150 an hour, eight client per day, working seven-day a week, a prostitute ends up making RM36,000 a month said Aegile Fernandez, Tenaganita anti-human trafficking coordinator.
“Serving an average of eight clients a day, she ends up making RM1,200 daily and possibly RM36,000 a month,” she said.
According to Aegile, syndicates that run brothels usually have up to 100 girls under them.
Friday, May 22, 2009
PDRM Must Change Or Fail
MAY 22 — Criticisms of the PDRM (Polis Di-Raja Malaysia) have lately turned ugly: they have been reduced to what amounts to a hate campaign. I believe this attitude is totally counterproductive because as citizens we deserve the police service we get. In other words, unless we are prepared to work with them, they will not succeed.
That said, PDRM must change with the times, and change what is known all over the world as the police culture of impunity. Police training must naturally cover traditional aspects of policing, but in today’s terms nothing is more important than for our police to understand the issue of human rights and the rights of the individual to police protection without regard to race or colour. Officers at every level of the service must subject themselves and their actions to the closest public scrutiny. Members of the public today are no longer mesmerised by the shiny little badges of rank that elbow for space on their very crowded epaulette.
Members of the Royal Malaysian Police belong to an honourable profession that, in our country, is more than two centuries old. The PDRM is older than the London Metropolitan Police (1829) and the New York City Police Department (1843). They are the inheritors of a long and proud tradition of service to the people of this country. And we owe them an enormous debt of gratitude.
The Malaysian police service is like no other in the world. What little I know of police forces in some parts of the world suggests that in many respects, ours is as good as the best, but as the report of the Royal Commission on the Enhancement of the Management and Operation of PDRM has pointed out, there is a lot of room for improvement so as to bring the standards of policing in Malaysia in line with best international practices.
As a member of the Royal Commission appointed to inquire into the police service, I despair of the decision of the government to soft pedal on the most important recommendation in the whole report — the creation of an independent oversight body to help protect the police protect itself against unwarranted criticisms. The government, and the police, no less, must accept that no police force in the world has ever succeeded in policing itself, and PDRM is no different. I may be forgiven for concluding that the government has made, in a manner of speaking, a right royal “dog’s breakfast” of much of the report. Tun Abdullah Ahmad Badawi pussyfooted around this recommendation, but let us see whether our self-proclaimed reforming crusader, the current prime minister, has the stomach to force this through.
I can understand why the senior ranks are suspicious of any suggestion that they perceive as “outside interference.” The Knapp Commission (1972) on the New York police had this to say: “Two principal characteristics emerge from this group loyalty: suspicion and loyalty directed at any outside interference with the department. This mixture of hostility and pride has created what the (Knapp) Commission has found to be the most serious roadblock to a rational attack on police corruption: a stubborn refusal at all levels of the department to acknowledge that a serious problem exists.” I spent a year in New York as Special Adviser to the UN Secretary-General in 2006, and was able to follow developments in the New York Police Department, and nothing substantial has changed since that report was released in 1972. Let us move from New York to London.
Sir Robert Bunyard, a former Her Majesty’s Chief Inspector of Constabulary, describes police culture as follows:
“The culture of police groups has always been particularly strong, partly because the police occupy a unique and ambiguous role in society but also because they feel the need to defend themselves against what is seen as a hostile world.” Not really very different from the way many police officers in PDRM have reacted to the royal commission report.
A common belief or notion, which appears to be deeply embedded in the police psyche, is that of impunity, forgetting that the powers given to them are purely for the purpose of enforcing the rule of law and maintaining public order. Many of them also sometimes forget that they are not above the law, are indeed creatures of the law, and it is their duty to uphold the law, and not subvert it, however great the temptation might be.
Effective policing depends on public support, and public support will be withheld or even withdrawn if there is no confidence in the integrity of the police as a whole. It is important for them to realise that they are an intrinsic part of the society which it is their duty to serve, and all of their actions must be directed towards the public good.
Their distinctive blue uniform sets off very complex emotions and reactions in different people. As police officers they are either respected or feared. Naturally, how they choose to be treated is entirely a matter for them to decide.
The important role they play in our criminal justice system cannot be overemphasised. It is all the more important that they maintain the highest ethical and moral standards, particularly in handling cases that could lead to a possible prosecution.
We often hear complaints about questionable methods used by the police when gathering evidence, methods that will not bear close examination. Nothing is more calculated to alienate the public than the belief, rightly or wrongly, that the police are careless about protecting citizens’ rights. Members of the public are becoming better educated and know their rights under the law. What all this means in practice is that the police must change from a perceived culture of impunity to one grounded in efficiency, transparency, honesty and accountability.
We do expect, I admit, rather a lot of our men and women in blue. We make demands on them that we would never dream of imposing on ourselves. They work under conditions which are far from ideal, often exposed to great hardship and danger, and yet do we ever stop to think about their welfare and that of their families?
I can tell you that nothing much has changed in 50 years as far as their accommodation, for example, is concerned. Instead of living in wooden barracks, they now live in crammed one- or two-bedroom concrete cubicles. Police families tend to be large, and the chances of living with dignity as a family unit are not part of their terms of employment. Domestic pressures under such living conditions defy the imagination, and it was for me, on official visits to many police stations in different states, a humbling experience to talk to police personnel and to see their patience and forbearance of an existence that is not in keeping with today’s minimum expectations.
The nature of police work is such that it would be totally dishonest and disingenuous for anyone to suggest that it is no different from all the other components of the civil service. It is different, dangerous and debilitating of mind and body. The police service should be treated as a separate and distinct service, and the officers, men and women should be paid a rate for the job that reflects the true nature of their work.
Police work is not every one’s idea of fun and games, and in fact I have often said that anyone determined to join the police should have his or her head examined. But for all that, thank God that there are thousands of them who have decided to devote their lives to the care of the citizens of this country so that we can go about our work or business knowing that they are there watching over our security and safety.
I have often heard it said that if the police are paid more, the armed forces might be upset. My remedy for that is for members of the armed forces to join the police and have a taste of police life.
That said, PDRM must change with the times, and change what is known all over the world as the police culture of impunity. Police training must naturally cover traditional aspects of policing, but in today’s terms nothing is more important than for our police to understand the issue of human rights and the rights of the individual to police protection without regard to race or colour. Officers at every level of the service must subject themselves and their actions to the closest public scrutiny. Members of the public today are no longer mesmerised by the shiny little badges of rank that elbow for space on their very crowded epaulette.
Members of the Royal Malaysian Police belong to an honourable profession that, in our country, is more than two centuries old. The PDRM is older than the London Metropolitan Police (1829) and the New York City Police Department (1843). They are the inheritors of a long and proud tradition of service to the people of this country. And we owe them an enormous debt of gratitude.
The Malaysian police service is like no other in the world. What little I know of police forces in some parts of the world suggests that in many respects, ours is as good as the best, but as the report of the Royal Commission on the Enhancement of the Management and Operation of PDRM has pointed out, there is a lot of room for improvement so as to bring the standards of policing in Malaysia in line with best international practices.
As a member of the Royal Commission appointed to inquire into the police service, I despair of the decision of the government to soft pedal on the most important recommendation in the whole report — the creation of an independent oversight body to help protect the police protect itself against unwarranted criticisms. The government, and the police, no less, must accept that no police force in the world has ever succeeded in policing itself, and PDRM is no different. I may be forgiven for concluding that the government has made, in a manner of speaking, a right royal “dog’s breakfast” of much of the report. Tun Abdullah Ahmad Badawi pussyfooted around this recommendation, but let us see whether our self-proclaimed reforming crusader, the current prime minister, has the stomach to force this through.
I can understand why the senior ranks are suspicious of any suggestion that they perceive as “outside interference.” The Knapp Commission (1972) on the New York police had this to say: “Two principal characteristics emerge from this group loyalty: suspicion and loyalty directed at any outside interference with the department. This mixture of hostility and pride has created what the (Knapp) Commission has found to be the most serious roadblock to a rational attack on police corruption: a stubborn refusal at all levels of the department to acknowledge that a serious problem exists.” I spent a year in New York as Special Adviser to the UN Secretary-General in 2006, and was able to follow developments in the New York Police Department, and nothing substantial has changed since that report was released in 1972. Let us move from New York to London.
Sir Robert Bunyard, a former Her Majesty’s Chief Inspector of Constabulary, describes police culture as follows:
“The culture of police groups has always been particularly strong, partly because the police occupy a unique and ambiguous role in society but also because they feel the need to defend themselves against what is seen as a hostile world.” Not really very different from the way many police officers in PDRM have reacted to the royal commission report.
A common belief or notion, which appears to be deeply embedded in the police psyche, is that of impunity, forgetting that the powers given to them are purely for the purpose of enforcing the rule of law and maintaining public order. Many of them also sometimes forget that they are not above the law, are indeed creatures of the law, and it is their duty to uphold the law, and not subvert it, however great the temptation might be.
Effective policing depends on public support, and public support will be withheld or even withdrawn if there is no confidence in the integrity of the police as a whole. It is important for them to realise that they are an intrinsic part of the society which it is their duty to serve, and all of their actions must be directed towards the public good.
Their distinctive blue uniform sets off very complex emotions and reactions in different people. As police officers they are either respected or feared. Naturally, how they choose to be treated is entirely a matter for them to decide.
The important role they play in our criminal justice system cannot be overemphasised. It is all the more important that they maintain the highest ethical and moral standards, particularly in handling cases that could lead to a possible prosecution.
We often hear complaints about questionable methods used by the police when gathering evidence, methods that will not bear close examination. Nothing is more calculated to alienate the public than the belief, rightly or wrongly, that the police are careless about protecting citizens’ rights. Members of the public are becoming better educated and know their rights under the law. What all this means in practice is that the police must change from a perceived culture of impunity to one grounded in efficiency, transparency, honesty and accountability.
We do expect, I admit, rather a lot of our men and women in blue. We make demands on them that we would never dream of imposing on ourselves. They work under conditions which are far from ideal, often exposed to great hardship and danger, and yet do we ever stop to think about their welfare and that of their families?
I can tell you that nothing much has changed in 50 years as far as their accommodation, for example, is concerned. Instead of living in wooden barracks, they now live in crammed one- or two-bedroom concrete cubicles. Police families tend to be large, and the chances of living with dignity as a family unit are not part of their terms of employment. Domestic pressures under such living conditions defy the imagination, and it was for me, on official visits to many police stations in different states, a humbling experience to talk to police personnel and to see their patience and forbearance of an existence that is not in keeping with today’s minimum expectations.
The nature of police work is such that it would be totally dishonest and disingenuous for anyone to suggest that it is no different from all the other components of the civil service. It is different, dangerous and debilitating of mind and body. The police service should be treated as a separate and distinct service, and the officers, men and women should be paid a rate for the job that reflects the true nature of their work.
Police work is not every one’s idea of fun and games, and in fact I have often said that anyone determined to join the police should have his or her head examined. But for all that, thank God that there are thousands of them who have decided to devote their lives to the care of the citizens of this country so that we can go about our work or business knowing that they are there watching over our security and safety.
I have often heard it said that if the police are paid more, the armed forces might be upset. My remedy for that is for members of the armed forces to join the police and have a taste of police life.
Thursday, May 21, 2009
Proposal To Register Bloggers
SHAH ALAM, May 21 — Information, Communications and Culture Minister Datuk Seri Dr Rais Yatim said the proposal by some quarters for bloggers in Malaysia to be registered required in-depth study.
“The idea is good, but we have to see it from the legal aspects and from the aspect of freedom of Internet use.
“We have to see whether registering bloggers is in line with the provisions of the Communications and Multimedia Act 1998. We should not be hasty in implementing the proposal,” he said after meeting with Selangor Information Department and Special Affairs Department officers, here, today.
However, he said, bloggers were still subject to existing laws for defamation and sedition.
“We are studying a new Act, the Multimedia Signature Act, which has been in the pipeline the past three years. This Act is expected to support the Communications and Multimedia Act 1998,” he said.
At the same time Rais is encouraging his ministry’s officers to be Internet-savvy, including about blogging, to keep up with a changing world.
Rais said if he, who had served under five prime ministers, could learn new things through the Internet, he could not see why the officers should not.
He also said that information officers needed to be close to the people by giving information on government policies not just in their homes and community halls, but also at the coffeeshops and other eateries and at the market place, in order to know their sentiments.
Disseminating information through less formal ways but directly to the people could be more effective for the government, he added.
On the need to locate the Selangor Broadcasting Department closer to the state Information Department, he said the former would be shifted back to the state if there were suitable premises available.
The Selangor Broadcasting Department was ordered to vacate its office at the Sultan Salahuddin Abdul Aziz Shah Building last year after Pakatan Rakyat took over the state government from the Barisan Nasional after the last general election on March 8, 2008. – Bernama
“The idea is good, but we have to see it from the legal aspects and from the aspect of freedom of Internet use.
“We have to see whether registering bloggers is in line with the provisions of the Communications and Multimedia Act 1998. We should not be hasty in implementing the proposal,” he said after meeting with Selangor Information Department and Special Affairs Department officers, here, today.
However, he said, bloggers were still subject to existing laws for defamation and sedition.
“We are studying a new Act, the Multimedia Signature Act, which has been in the pipeline the past three years. This Act is expected to support the Communications and Multimedia Act 1998,” he said.
At the same time Rais is encouraging his ministry’s officers to be Internet-savvy, including about blogging, to keep up with a changing world.
Rais said if he, who had served under five prime ministers, could learn new things through the Internet, he could not see why the officers should not.
He also said that information officers needed to be close to the people by giving information on government policies not just in their homes and community halls, but also at the coffeeshops and other eateries and at the market place, in order to know their sentiments.
Disseminating information through less formal ways but directly to the people could be more effective for the government, he added.
On the need to locate the Selangor Broadcasting Department closer to the state Information Department, he said the former would be shifted back to the state if there were suitable premises available.
The Selangor Broadcasting Department was ordered to vacate its office at the Sultan Salahuddin Abdul Aziz Shah Building last year after Pakatan Rakyat took over the state government from the Barisan Nasional after the last general election on March 8, 2008. – Bernama
Retrenched Malaysians won’t work for less
PETALING JAYA, May 21 — Low wages are the main factor for the government’s training programme for retrenched workers to be unattractive, according to the Malaysian Trades Union Congress (MTUC).
Its vice-president A. Balasubramaniam said those retrenched were mostly middle-aged with 10 to 15 years of experience and were already earning between RM2,000 and RM3,000 per month at the time of their retrenchment.
“So, if you ask this group to go for retraining and pay them RM500 or RM800 allowance, surely they will be reluctant,” he told Bernama today.
Balasubramaniam was commenting on the disappointment expressed by Human Resource Minister Datuk Dr S. Subramaniam over the poor response to the government’s initiative of providing training for retrenched workers.
The minister was reported to have said that only 1,000 of the 18,000 eligible workers had signed up for the various training programmes since they began two months ago.
Balasubramaniam said the poor response was also due to their financial commitments like paying their housing and vehicle loans and credit card debts.
The Malaysian Employers Federation (MEF) Executive Director Shamsuddin Bardan said the nature of the job was also an important consideration for the workers.
Most of the vacancies, he pointed out, were in the business process outsourcing (BPO) sector which required them to work odd hours to serve the world at large with different time zones.
“So, it is not surprising that retrenched workers who were used to working from 9am to 5pm find it difficult to adjust to a 11pm-7am shift,” he said.
Shamsuddin said another factor which impeded these workers was their cultural background where they had extended families and were reluctant to be relocated.
As an alternative, Shamsuddin proposed that the government set up a “retrenchment subsidy fund” to subsidise companies planning to retrench workers.
“The subsidy should be given directly to the company to allow it to subsidise the salary of its workers, thus preventing retrenchment,” he said.
“For example, in some countries the government gives a retrenchment subsidy of about 12 per cent of the worker’s salary to a maximum of RM3,500 for about a year.
“May be in Malaysia we can adjust this formula to suit our needs,” he said, adding that the most important thing was to prevent retrenchment in the first place, so that there would no necessity for re-employment or re-training.
Shamsuddin said part of the allocation for training could be utilised to set up the fund.
The government had allocated RM50 million for retraining of retrenched workers.
Meanwhile, L.C. Yong, the general manager of an employment agency here, agreed that Malaysian workers were reluctant to be relocated or change jobs if the salary did not commensurate with the responsibilities and skills.
According to him, Malaysian workers were adaptable and willing to do any job provided “the returns are attractive”.
“The bottom line for these workers is ringgit and sen,” he said. – Bernama
Its vice-president A. Balasubramaniam said those retrenched were mostly middle-aged with 10 to 15 years of experience and were already earning between RM2,000 and RM3,000 per month at the time of their retrenchment.
“So, if you ask this group to go for retraining and pay them RM500 or RM800 allowance, surely they will be reluctant,” he told Bernama today.
Balasubramaniam was commenting on the disappointment expressed by Human Resource Minister Datuk Dr S. Subramaniam over the poor response to the government’s initiative of providing training for retrenched workers.
The minister was reported to have said that only 1,000 of the 18,000 eligible workers had signed up for the various training programmes since they began two months ago.
Balasubramaniam said the poor response was also due to their financial commitments like paying their housing and vehicle loans and credit card debts.
The Malaysian Employers Federation (MEF) Executive Director Shamsuddin Bardan said the nature of the job was also an important consideration for the workers.
Most of the vacancies, he pointed out, were in the business process outsourcing (BPO) sector which required them to work odd hours to serve the world at large with different time zones.
“So, it is not surprising that retrenched workers who were used to working from 9am to 5pm find it difficult to adjust to a 11pm-7am shift,” he said.
Shamsuddin said another factor which impeded these workers was their cultural background where they had extended families and were reluctant to be relocated.
As an alternative, Shamsuddin proposed that the government set up a “retrenchment subsidy fund” to subsidise companies planning to retrench workers.
“The subsidy should be given directly to the company to allow it to subsidise the salary of its workers, thus preventing retrenchment,” he said.
“For example, in some countries the government gives a retrenchment subsidy of about 12 per cent of the worker’s salary to a maximum of RM3,500 for about a year.
“May be in Malaysia we can adjust this formula to suit our needs,” he said, adding that the most important thing was to prevent retrenchment in the first place, so that there would no necessity for re-employment or re-training.
Shamsuddin said part of the allocation for training could be utilised to set up the fund.
The government had allocated RM50 million for retraining of retrenched workers.
Meanwhile, L.C. Yong, the general manager of an employment agency here, agreed that Malaysian workers were reluctant to be relocated or change jobs if the salary did not commensurate with the responsibilities and skills.
According to him, Malaysian workers were adaptable and willing to do any job provided “the returns are attractive”.
“The bottom line for these workers is ringgit and sen,” he said. – Bernama
Wednesday, May 20, 2009
Catitan Perjalanan Ke Sabah - May 2009
Semasa sy sedang menulis blog ini, sy sedang berada di bandar Sandakan, Sabah. Sy smpai ke Kota Kinabalu pada malam 16 May 2009 yg juga tarikh hari lahir sy yg ke 3X. Memang amat pantas masa berlalu, sedar2 umur dah meningkat. Nasib baik tak tua lagi, masih mudah, sihat, mantap, bijak dan kaya. Hahaaa masuk bakul angkat sendiri la ni. Seperti kata Albert Einstein - Time is Relative, Idea Is Infinite. Masa adalah perbandingan, idea pemikiran kita tiada hadnya. Dengan menggunakan masa yg ada, fikirkan idea yg perlu untuk mendapatkan kekayaan dan kejayaan, pasti hidup lebih ceria dan bahagia. Sapa yg kata dia tak de idea bermaksud dia tidak berfikir. Kalau kita tidak berfikir maksudnya kita tidak berkembang, kalau kita tidak berkembang maksudnya kita sedang mati (dying). Juga mari kita rayakan kehidupan dgn semaksimum yg mungkin. Jadilah orang yg bebas, berdikari, dan kaya. Tak perlu kerja sampai mati. Itulah impian setiap orang di dunia ini walaupun ramai yg menafikannya. Selepas menjadi usahawan hampir 10 tahun baru sekarang sy dapat mencapai status kebebasan kewangan, tidak perlu bekerja@berniaga, tak perlu risau pasai duit lagi, semuanye dah beres. Sy telah mencapai tahap sebagai seorang pelabur, dimana duit bekerja utk sy, sy boleh bebas bergerak kemana2, buat yg apa yg sy nak buat, tak perlu fikir pasai kedai, pekerja dan lain2. Seperti yg Robert Kiyasaki terangkan dalam bukunya Cash Flow Quadron, ramai orang yg terperangkap dalam kuadron pekerja (employee), kerja sendiri (self employed). Robert Kiyosaki mencadangkan kepada sesiapa yg hendak mencapai kebebasan kewangan haruslah menjadi usahawan dan seterusnya menjadi seorang pelabur seperti yg telah sy lalui. Walaupun masih belum berstatus jutawan, tapi ianya semakin hampir menjadi kenyataan sekiranya semua perancangan menjadi kenyataan. Nantikanlah kemunculan buku tulisan sy yg akan muncul di pasaran thn depan bertajuk - Minda Jutawan : Bagaimana Untuk Menjadi Kaya Sebelum Umur 30.
Berbalik ke bandar Sandakan, sy smpai ke bandar pelabuhan ini pada pkl 6 ptg menggunakan bas ekspress yg bertolak dari bandar Kota Kinabalu pada pkl 12 tghari dengan tambang rm 35. Perjalanan dari bandar KK ke Sandakan mengambil masa yg agak panjang miskipun jaraknya lebih kurang 330 KM kerana jalan yg agak sempit, berliku2 dan berbukit bukau. Sepanjang perjalanan yg melalui Kinabalu Park, Ranau, Kundasang mempunyai pemandangan yg cantik, pun begitu oleh kerana hujan renyai, keadaan agak berkabut terutamanya disekitar Kinabalu Park yg menyebabkan Gunung Kinabalu tidak dapat kelihatan, semuanya nampak putih saja. Di Sandakan sy menginap di hotel Nak, sebuah hotel antik, berkedudukan tepi laut Sulu, kadar sewa rm 75 semalam, bilik agak luas dan selesa.
Semasa di KK sy menginap di hotel Ist Street, bilik agak kecil, ada Wifi kadar rm 77 semalam. Pada sebelah pagi Ahad (17/5/09) sy pergi ronda2 pasar Jalan Gaya yg memang terkenal di KK diadakan setiap hari ahad, ada macam2 kat situ, apa yg sy tertarik ialah pada arnab2 yg comel2, harga rm 15 sekor, teringin sgt nak beli bg kat anak2, tapi nanti takut problem kat airport pula, so kiv dulu la. Lepas tu sy ke pasar filipina mencari ikan2 kering dan mutiara. Kat situ sy beli ikan terubuk masin 2 ekor, ikan bilis, ikan keropok, ikan Yu kering, rantai mutiara dan krystal sebagai souvenir datang Sabah, nanti blh la bagi kat sedara mara dan kawan2. Harga pun agak murah selepas minta kurang 50%. Pada sebelah petang sy ke pulau manukan, mamutik dan pulau sapi. Pulau2 ni memang terkenal di sabah dan agak dekat dgn KK. Tambang bot laju ke pulau2 ni ialah rm 17 + rm 6(cukai jeti) + rm 3 (byrn masuk ke pulau). Aktiviti sy kat pulau2 ni ialah snorkling, air laut yg agak jernih, pasir pantai yg putik melepak serta byk anak2 ikan cantik2 yg bermain disekitar menjadikan aktiviti snorkling agak terkenal disini. Peralatalan snorking blhj disewa dgn harga rm 10 sehari. Selepas puas snorkling hampir 2 jam , sy bertolak balik ke hotel pada pkl 530 ptg. Kat Sabah pkl 620 dah mula gelap, awai 1 jam berbanding kat semenanjung. So kena balik awal, bangun pun kena awal sbb pkl 630 dah cerah. Pada sebelah malam pula sy ke pasar malam berdekatan pasar filipina. Kat situ byk betul ikan bakar, harga pun murah, macam ikan ada, sy pun try ikan apa pun sy tak kenal pun tapi sedap juga dgn udang bakar skali nasi putih semua skali rm 10 saja. Kat semenanjung mana dapat sebab ikan pun besar juga. Sapa yg teringin nak mai Sabah blh la contact sy utk bg tips.
Trip sy kali ini adalah selama 5 hari, bergerak secara solo, plan awal nak naik gunung kinabalu, tapi disebabkan oleh penginapan yg dah penuh terpaksa dibatalkan dan akan digantikan dengan trip ke Brunei melalui jalan laut menerusi pulau Labuan. Semasa sy berada di KK, masyarakat tempatan sedang giat membuat persiapan untuk hari Pesta Keamatan iaitu pesta menuai bg masyarakat pelbagai etnik di Sabah terutamanya etnik Kadazan-Dusun. Lain2 etnik yg terdapat di Sabah ialah Bajau, Bugis, Bidayuh, Wisayak, melayu sabah, cina dan lain2. Itu pun tak termasuk masyrakat pendatangan halal dan haram seperti orang Filipina, Indonesia dan juga pakistan. Jadi masyarakat Sabah agak pelbagai bangsa, etnik, agama dan makanan. Sy juga dapat mencuba makanan tradisi tempatan seperti tuhau, sago, hinava, noonsom dan lain2 lagi. Dahulunya etnik Kadasan-Dusun merupakan penduduk majoriti kat Sabah, tapi sekarang tidak lagi. Penghijrahan masuk pendatang asing dari Filipina, Indonasia dan Pakistan yang memilik IC telah menjadikan etnik Kadazan-Dusun semakin terpinggir di Sabah. Semua ini adalah disebabkan oleh perancangan UMNO yg ingin menguasai iklim politik di Sabah. Negeri di bawah bayu ingin mempunyai kekayaan semula jadi yg amat banyak, ada balak, minya dan gas, tanah yg subur serta laut yg luas. Jadi tidak hairanlah jikalau Sabah menjadi rebutan negara2 Indonesia dan Filipina di masa lalu. Juga para penduduknya yg cantik2 serta ramah membuatkan anda terpukau bila sampai ke Sabah.
Pada hari ke-2 di Sandakan sy melawat tempat2 menarik kat sini. Yang paling terkenal adalah pusat pemuliharaan Orang Utan kat Sepilok. Sy bergerak ke Sepilok dengan bas mini selepas breakfast percuma kat hotel Nak. Stesen bas ke sana terletak betol2 di depan hotel Nak, tempoh perjalanan ke sana lebih kurang 45 minit dgn tambang rm 3. Bertolak pada pukul 9 pagi dan sampai lebih kurang pukul 950 pagi. Memang timing agak menarik kerana waktu Orang Utan di beri makan harian ialah pada pukul 10 pagi dan 3 petang. Kos tiket untuk masuk ke situ ialah rm 5 sorang untuk warganegara Malaysia dan rm 15 untuk foreigner. Juga rm 10 untuk digital kamera. Sampai jer kat sana ramai betol foreigner yg sedang menanti Orang Utan keluar makan kegemarannya iaitu pisang. Ada 2 org staf pusat berkenaan ditugaskan membawa makanan kepada Orang Utan. Best jugak dapat tengok Orang Utan, species terancam yg juga merupakan nenek moyang manusia mengikut teori evolusi Darwin.
Selepas 1 jam kat Sepilok sy bertolak balik ke bandar Sandakan menaiki bas mini. Sampai ke Sandakan pada pukul 12 sempat ronda2 sekitar bandar sambil ambil gambar2 menarik serta membeli cenderahati. Pukul 1 check out hotel dan naik bas mini menuju ke hentian bas ekspress Sandakan. Naik bas ekspress Sida menuju ke KK pada pukul 1.30 dgn tambang rm 30. Perjalanan balik ke KK mengambil masa lebih 6 jam, sampai kat terminal bas ekspress Inanam pada pukul 830 mlm, terus check in masuk hotel berhadapan stesen bas tu dgn harga rm 75 semalam , tiada WIFI, bilik blh tahan, ada tv, aircon dan air panas. Kemudian kluar makan nasi kat restoran bersebelahan hotel.
Pada hari ke 5 kat Sabah sy bergerak ke bandar KK pada pukul 11 pagi menaiki van (bas mini). Sampai kat KK terus masuk ke Coffee Bean, order cuppicino dgn sufring internet sambil update blog. Sementara menunggu flight balik ke KL pada jam 5 ptg, sy lepak kat Coffee Bean sampai pkl 1 tgh, kemudian bergerak ke restoran Little Italy untuk 'dating' dgn sorang gadis Sabah yg sy kenali menerusi internet. Restoran yg ada class ini memang agak terkenal di KK menyediakan masakan Italy seperti piza, spagetti dan macam2 lagi.
Pkl 1.10tgh sy masuk ke Little Italy, sementara menunggu ‘kawan’ ni sy surfing internet, check stock kat Bursa Malaysia, Singapore & Hong Kong. Dia di jangka tiba pd pukul 1.30, nervous juga nak jumpa dia, ni 1st time nak jumpa, sblm ni slalu ym, email dan tgk gmbr2 dia kat friendster jer. Namanya Fey, sorang gadis etnik kadazan-dusun, beragama islam, kerja cikgu sains kat KK. Dalam pkl 1.50 ptg dia pun smpai, cantik juga, kulit putih melepak, tinggi lebih kurang sy, umur – rahsia, sungguh terpegun juga sy tgk dia, dia ok ramah dan blh sesuaikan diri dgn keadaan. Kemudian 10 minit kemudian adik dia pula smpai, adk lagi pun lagi comel, umur baru 19 thn. So sblm adk dia smpai kami order piza size besar 1 biji, sup ayam dgn minuman. Sambil tu sy pun berkenalan dgn lebih lanjut dgn dia, best juga blh berkenalan dan berjumpa dgn gadis Sabah. Kalau ada jodoh blh buat bini, he2. Pizaa kat situ memang sedap, ada class, sungguh berbeza dgn piza kat Pizza Hut. Kejap saja masa berlalu, dah 1 jam dok kat situ, piza msh blm habis, masing2 control perut biasa la, tak blh tunjuk sgt mkn byk. Maka piza yg lebih 2 keping dibungkuskan supaya dia blh bw balik ke rumah, tak baik membazir. Sy kena ke airport sblm pkl 3.50 ptg sbb flight pkl 5.10 ptg, jadi sy minta tlg dia htr sy ke airport, mula2 dia agak keberatan sbb tak tau jalan, nasib baik adk dia tau jalan, so dia pun htr sy ke airport. Sblm tu sy ajak adk dia ke pejabat pos utk poskan poskad gambar anak Orang Utan yg sy beli kat Sepilok kpd anak perempuan sy yg tersayang – nurfarihah. Lps jelaskan bil sebanyak rm 77 mkn kat situ kami bergerak kluar.
Dalam pkl 330 smpai kat airport KK (terminal 2 – LCCT) , terus check in, jumpa Fey skali lagi, dia datang utk ucapkan slamat jalan romeo. Lepas tu gi solat jamak zohor & asar skali cover subuh yg terlepas pg tadi. Kemudian sambil menunggu di ruang pelepasan antarabanga sy sempat lagi update blog ni. Flight ke KL terlewat 30 minit, disebabkan oleh pesawat dari KL smpai lewat. Biasa la, flight Airasia memang slalu lewat,maklum la tambang pun murah… Tepat jam 5.45 ptg pesawat Airbus A320 AK5109 berlepas ke LCCT, KL membawa sy dgn penumpang2 yg laain meninggal negera dibawah bayu ni..
Sekian..
Ringkasan Perjalanan :-
Destinasi : Sabah
Masa : 5 hari
Bajet : rm 700
Misi : jalan2
Jarak keseluruhan perjalanan dari KL : 5800 KM
Risiko : rendah
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