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Wednesday, June 21, 2017

Singapore's PM Lee family feud

https://youtu.be/lmSWfZZrNbE

A feud between the children of Singapore's late founder Lee Kuan Yew has intensified. The family dispute first became public last year on the anniversary of Mr Lee's death, when the prime minister Lee Hsien Loong's sister, Lee Wei Ling, accused him of exploiting the late leader's legacy for personal gain.

This time, Lee Wei Ling and another brother have publicly accused Prime Minister Lee of disobeying their father's last wishes

 Is Singapore’s Prime Minister Lee Hsien Loong Dishonest?! 

 

  https://youtu.be/BzkEVj-bs3I



Related post


PETALING JAYA: A public spat between the late Lee Kuan Yew’s children has shattered the usually serene political landscape in Sin...

Tuesday, June 20, 2017

This is really worth reading! 这篇太值得看了!


这篇太值得看了! This is really worth reading!

祝身体永远健康,香港伊利沙伯医院临床肿瘤科唐志聪医生编写 :
Wishing you good health always - Doctor Tang from St. Elizabeth Hospital, Hong Kong wrote this:

⛄}《人,只要脾、肝、大肠、肾,四个功能健康,就能永远离开癌症、糖尿病、心脏病、高血压。
We, human being, as long as our spleen, liver, large intestine and kidney are healthy, we will be far away from cancer, diabetes, heart attack and high blood pressure.

🌷} 脾,一定要健康。
Keeping the Spleen healthy must be top priority.

如果有病,就先恢复脾的功能。
Once you are sick, you must work on the recovery of your spleen first.

每天三餐,五谷杂粮一定要占总饮食的 50%,一定要养成这个习惯。
Our daily three meals should contain 50% of grains/wheat/brown rice, must learn to make it as part of our eating habit and diet.

🍚} 杂粮就是红豆、黄豆、绿豆、薏仁,这些都是杂粮类,莲子也很好,有了这个概念之后,脾好肝就好。
Grain crops are red bean, soya bean, green bean and Chinese Pearl barley. Lotus seeds are also good. Once your spleen is good, your liver will automatically be healthy.

🕙} 脾在造血,一天有两个重要的时间,就是子时24:00和午时12:00,所以,你该休息的时候一定要休息。
..现在的人,大部分都是肝不好,为什么不好? Spleen is the organ that is manufacturing blood. The important schedules for processing are 12am and 12pm. Thus, when you need to rest, you must rest. Nowadays, they are a lot of people who are having liver problems. Why is it?

...晚睡、吃油炸的东西、坏脾气,这三个正是肝的三大克星。
Sleeping late, eating oily and fried foods and bad mood, these are the three nemesis.

🐷} 油包肝,你吃油的东西,油把整个肝包住,肝的功能完全丧失了,所以说,我们不要吃得太油腻。
When you eat oily foods, oil will cover up your whole liver, your liver will loss its functions.

🚶} 当我们身体感觉不适的时候,此时疾病正在纠正人的过失,用身体的痛苦管教他,有痛苦的时候,代表我们要改变自己的生活方式。 🚽 每天早上,你上厕所感觉很困难,这个表示什么?
When we are feeling uncomfortable, the sickness is coming to rectify our negligence, using pain to educate us, we must change our way of living. Every morning, do you find difficulty to pass motion? What does that mean?

🍃} 你身体纤维素摄取量完全不足。
Your intake of fibre is not enough.

...万病之源,都是从你的大肠不能正常排泄开始。
Thousands of sickness main problems are caused by the inability to perform daily passing motion through the large intestine.

...如果你的大肠很好,那你早上应该不是自己醒过来,而是被大肠的蠕动叫醒,大肠蠕动在叫你了,为什么?
If your large intestine is good form, in the morning, you will be woken up by the movement of your large intestine calling you.

Why? ...因为五到七点就是大肠最活跃的时间,所以为什么我们告诉癌症病人一定要晚上九点睡,因为你的大肠早上六点到七点的时候自然就会蠕动,叫你起床,蹲马桶了。
Because 5am to 7am, our large intestine is most actively performing it's functions. That's why we inform cancer patients must go to sleep at 9pm. Because large intestine will automatically wake you up between 6am to 7am to sit on the toilet bowl.

💩} 你一天要上几次厕所才够?
How many times you must go to toilet everyday?

请记住:如果四、五天才上一次厕所,叫重度便秘;
Please remember, if it's 4-5 days, you are seriously in constipated.

两三天上一次厕所,这个叫中度便秘;
2-3 days once, considered as medium level of constipation.

一天上一次厕所,叫轻度便秘。
Once a day is mild constipation.

...食物进入体内十二小时,没有排出去,就会形成毒素。
Once the foods is maintained inside our stomach for 12 hours, it became poisonous particles.

... 因为毒素没有排出去,我们的大肠壁就会吸收这个毒素,吸收以后,透过静脉又送回肝脏去,糟糕了! 造成肝亏损,这个问题就很严重了。
Because the poisonous particles are not passing out, it will be absorbed by the large intestinal wall, which then will send back to the liver, thus, damaging our liver. This will create a serious problem.

💝} 肝不好跟大肠有直接关联,只要大肠一通顺,肝就会好了,免疫系统也跟着恢复,而且送到心脏的血都是干净的,所以什么病都不容易罹患。
There is a direct relationship between our liver and large intestine. Once our large intestine is passable, liver will get recover, and build-up our antibody. Then, blood delivery to heart will be clean and no sickness will attack you.

...当一个人感觉到每天很容易疲倦、很容易累,表示你的肝功能已经出现问题了,血已经没有办法回流到肝!
When you always feel tired or very easy to get tired, that means you are having problems with the liver, your blood is unable to return back to your liver.

💪} 你身体健康靠的是什么?
What is your health depending on?

💤} 睡眠的时间,脾去收集血液,送到肝脏去解毒,解毒以后,干净的血液送到心脏去,心脏再送到全身,就能获得营养,就能获得健康。
While you are sleeping, your spleen is going to collect blood and deliver to the liver for dialysis. After cleaning and filtering up the poisonous particles, it will then deliver to the heart, the heart will then despatch throughout your body. You then received nutrients and get healthy.

💨} 很不幸的是,现代很多人脾已经先出现问题,脾本身就不收集血液。
Unfortunately, nowadays people are having problems with their spleen. Spleen itself is not storing blood.

只有一个办法最养脾,五谷最养脾,可是现代身体为什么都这么差,身体这么多病?
There is only one method to maintain healthy spleen, eating grains/oat/wheat are the most effective way. Why modern body is so poor, with so many sicknesses?

...因为都不吃五谷杂粮,吃汉堡、炸鸡、牛排、薯条,又吃白米饭,所以你要吃造物主原创的食物,一定要吃五谷杂粮,原始的杂粮,比如糙米等。
Because they don't eat grains/oat, they eat burgers, fried chicken, steak, French fries, white rice. You must eat the source foods like brown rice, oat, wheat.

⛳} 恢复四大功能,永远离开病苦!
Recovering back the functionality of the four main organs, sickness will leave you.

😍} 用心多看几次! 好好照顾自己! 》 这周是世界好友周,如果你愿意,请把这条信息发给你所有的好朋友 。
Be patient and read this over several times and take good care of yourselves. This week is "world friendship week", send this message to all of your good friends.

...当大部分人都在关注你飞得高不高时,只有少部分人关心你飞得累不累,这就是 友情。
Most people are noticing how high you can fly, but very few people are taking note of how tired you are?

👯} 再忙,也要照顾好自己, 朋友虽不常联系,却一直 惦念。
However busy you are, you must take good care of yourself. Though friends are not always communicating with you but they have you in their mind.

👕} 天凉时记着多穿衣!
When the weather is cold, you must wear enough to keep warm.

☕} 少喝奶茶、远离正在充电的电源。
Drink less milk tea and stay far away from charging port.


☕} 白天多喝水,晚上少喝,一天不喝多于两杯的咖啡。 Day time drink more water, night time drink less. One day shouldn't drink more than 2 cups of coffee.

🍔} 少吃油多的食物, 最佳睡眠为晚上十点至早上六点
Eat less oily foods. Best sleeping times are from 10pm to 6am.

🍸} 晚上五点后少吃大餐,每天喝酒不超过一杯。
Evening time, don't eat too much after 5pm. Don't drink more than one cup of alcoholic drink per day.

💊} 不用冷水服胶囊, 睡前半小时服药忌立刻躺下。
Don't eat medicines with cold water, eat medicines half hour before going to bed. Never eat medicines immediately laying down.

⛺} 睡眠不足八小时人会变笨。
Don't sleep for less than 8 hours per day.

👍} 午睡习惯的人不易老。
Having nap in the noon hour will keep you young and not age easily.

📲} 手机电池剩一格时不要打电话, 剩一格时辐射是平时的一千倍。
Once your handphone battery is left with only one bar, don't make calls anymore, because the radiation wave is one thousand times higher than fully charged battery.

👂} 要用左耳接电话, 用右耳会直接伤害到大脑。
Use your left ear to answer calls, right ear will directly hurt your brain.

💪} 2017 新概念 一个中心:一切以健康为中心。
New Concept in 2017, good health is most important, much more than any other things.

✌}两个基本点: 遇事潇洒一点, 看世事胡涂一点。
Two basic points: greet everything in life with an elegant and cheerful approach.

🙏}三个忘记: 忘记年龄,忘记过去,忘记恩怨。
Three things need to forget: forget your age, forget your past and forget your grievances.

👋}四个拥有: 无论你有多弱或多强,一定要: 拥有真正爱你的人, 拥有知心的朋友 , 拥有向上的事业, 拥有温暖的住所。
Four things you must have. No matter how weak or how strong you are, you must have: people who are truly loving you, have caring friends, progressive business or employment and a warm home.

✋}五个要: 要唱,要跳,要俏,要笑,要苗
Five things you do: Singing, dancing, charming, smiling and growing.

👌}六个不能: 不能饿了才吃, 不能渴了才喝, 不能困了才睡, 不能累了才歇, 不能病了才检查, 不能老了再后悔。
Six things you don't: don't wait till u r hungry then eat, don't wait till you are thirsty then you drink, don't wait till sleepy then sleep, don't wait till u feel tired then rest, don't wait till get sick then go for medical check-up, otherwise will only regret in later life.

😁} ... 阅读后,将此转发给所有的亲人和朋友。
After reading, do forward this to all your loved ones & friends.

Sunday, June 18, 2017

Everybody has Buddha nature

https://youtu.be/V1tP1Wtph9I


'Everybody has the Buddha nature': Experts analyze Buddhism's global appeal


As one of the world's major religions, Buddhism is popular in the West despite its foreign origins and language barriers. And with exchanges of ideas between different regions, such as this month's first China-Canada-US Buddhist Forum, Buddhism is likely to become more influential.

Buddhism's appeal internationally is despite significant cultural and ideological differences between continents. Shen Weirong, a professor of Tibetan and Buddhist studies at Tsinghua University, told Dialogue with Yang Rui that Buddhism has entered a "golden age" worldwide.

The religion is developing at speed, not only in Tibet and across other parts of China but abroad, said Shen.

In these violent times, one of the notable aspects of Buddhism is its teaching of peace. It is said that no wars have been fought in the name of Buddhism.

Dayi Shi, president of the Buddhist Association of Canada, thinks Buddhists' sense of compassion is important.

“In Buddhist history, we don’t have any violence, because Buddha always tells us we have to have compassion," he explained. "We have to respect each other even though we have different beliefs, we have different religions. But we still have to respect each other. Why? Because everybody has the Buddha nature.”

By Yao Nian ,Wang Dong  - CGTN

Thursday, June 15, 2017

Ex-Johor exco man, son and consultant face 21 counts amounting to RM36m



JOHOR BARU: Former state executive councillor Datuk Abd Latif Bandi, his eldest son and a property consultant have been charged with a total of 21 counts of money laundering amounting to RM35.78mil in connection with the massive Johor land scandal that broke out in March.


The former state Housing and Local Government Committee chairman was charged with 13 counts of money laundering amounting to RM17.59mil.

His son Ahmad Fauzan Hatim, 25, and Amir Shariffuddin Abd Raub, 44, were charged with four counts each involving RM735,000 and RM17.46mil respectively.

They are said to have committed the offences via cheque transactions at five major banks around Johor Baru between November 2013 and December 2016.

Abd Latif, 51, pleaded not guilty to seven counts under Section 4(1) (b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities 2001 (AMLA) (Act 613).

If found guilty, he can be sentenced to 15 years in jail and fined five times the amount or RM5mil, whichever is higher.

He also claimed trial to six counts under Section 4(1)(a) of the same Act, which carries a jail term of up to five years and a maximum fine of RM5mil, if convicted.

Ahmad Fauzan and Amir Sharifuddin also pleaded not guilty to four counts each under the Section 4(1) (b) and Section 4(1)(a) of the same Act, respectively.

Sessions Court judge Mohd Fauzi Mohd Nasir set bail at RM500,000 for Abd Latif, RM200,000 for Ahmad Fauzan and RM400,000 for Amir Shariffuddin in one surety each, to run concurrently with previously charged offences.

He was referring to the 33 counts of graft that Abd Latif and Amir Shariffuddin had claimed trial to on April 19 for allegedly converting bumiputra lots to non-bumiputra lots involving a total of RM30.3mil in Kota Masai, Tebrau, Kulai, Kempas, Nusajaya and Johor Baru.

The judge also fixed July 5 for next mention.

Abd Latif and Ahmad Fauzan were represented by a five-man legal team led by Datuk Hasnal Rezua Merican while lawyer Azrul Zulkifli Stork stood for Amir Shariffuddin.

The case was prosecuted by Malaysian Anti-Corruption Commission (MACC) DPP Mohd Asnawi Abu Hanifah.

Earlier, the three accused arrived clad in orange lockup T-shirts and were escorted by MACC officers into the court at around 8.40am.

The Star by kathleen ann kili

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Time to take fight against graft to the top, say group 

 

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Fighting corruption a decade later; Wars on graft widens

Singapore PM Lee family feud explodes into open, gets more heated





PETALING JAYA: A public spat between the late Lee Kuan Yew’s children has shattered the usually serene political landscape in Singapore, with two siblings accusing their brother Prime Minister Lee Hsien Loong of abusing his powers.

Kuan Yew’s daughter Dr Lee Wei Ling and son Lee Hsien Yang accused their big brother Hsien Loong of, well, acting like “Big Brother”, with Hsien Yang going so far as to say he was fleeing the country.

“We are concerned that the system has few checks and balances to prevent the abuse of government.

“We feel big brother omnipresent. We fear the use of the organs of state against us and Hsien Yang’s wife, Suet Fern,” the two said in a six-page statement that was also posted on Facebook early yesterday morning.

Hsien Yang’s son, Li Shengwu, said the situation had become so bad that the family planned to relocate overseas.

“In the last few years, my immediate family has become increasingly worried about the lack of checks on abuse of power.

“The situation is now such that my parents have made plans to relocate to another country, a painful decision that they have not made lightly,” he said on Facebook.

Wei Ling and Hsien Yang also accused their brother of trying to establish a political dynasty and wanting to “milk” their father’s legacy.

They said Hsien Loong and his wife Ho Ching – the CEO of state investor Temasek Holdings – harboured political ambitions for their son Li Hongyi, who works at government agency GovTech Singapore.

The heart of the matter seems to be the siblings’ unhappiness that Hsien Loong was not following their father’s wishes in demolishing the family home at 38 Oxley Road.

Before he passed away in March 2015, Kuan Yew had already expressed his desire that the house he moved into and lived in since 1945 be demolished because he did not want it becoming a “political shrine”.

That desire was part of his last will and testament, but the current prime minister has declined to follow through.

His siblings have attributed this refusal to Hsien Loong’s political ambition.

“Indeed, Hsien Loong and Ho Ching expressed plans to move with their family into the house as soon as possible after Kuan Yew’s passing,” said Wei Ling and Hsien Yang.

“This move would have strengthened Hsien Loong’s inherited mandate for himself and his family.

“Moreover, even if Hsien Loong did not live at 38 Oxley Road, the preservation of the house would enhance his political capital,” they said.

Hsien Loong, who is travelling overseas with his family, said he was disappointed and saddened by his siblings for “publicising private family matters”.

“I am deeply saddened by the unfortunate allegations that they have made.

“Ho Ching and I deny these allegations, especially the absurd claim that I have political ambitions for my son.

“Since my father’s passing in March 2015, as the eldest son I have tried my best to resolve the issues among us within the family, out of respect for our parents.

“My siblings’ statement has hurt our father’s legacy,” Hsien Loong said in a statement posted on Facebook.

Singaporeans seem divided on the matter.

On Hsien Yang’s Facebook page, he was greeted by more criticism than praise, with some accusing him of being the one who had tainted his father’s legacy.

“A family feud that is aired so openly is a sad thing to see,” said Dolpzy Do.

On Hsien Loong’s Facebook, it was generally the opposite.

Pointing out that Kuan Yew had passed away over two years ago, Jacq Low said, “His last will should have been settled by now.”

While such a public spat is rare in Singapore, it is not unprecedented. Last year, as the island-republic commemorated the first anniversary of Kuan Yew’s death, Wei Ling went public with similar concerns.

In a family feud that played out on Facebook, she said the elaborate events were not what her father would have wanted, and that he would have cringed at such “hero worship”.

Wei Ling, a neurosurgeon, also accused Hsien Loong of abusing his power and using the anniversary to try and establish a political dynasty.

Hsien Loong replied via Facebook, saying he was “deeply saddened” by the accusations, describing them as “completely untrue”.

Source: The Star

PM Lee’s family feud becomes more heated

 


PETALING JAYA: The public spat between Singapore Prime Minister Lee Hsien Loong (pic) and his siblings became more heated Thursday, with the younger brother accusing the older of not being truthful.

The two younger children of Singapore’s founder and longest-serving premier Lee Kuan Yew, Dr Lee Wei Ling and Lee Hsien Yang, took to Facebook to air their grievances.

Hsien Yang accused his brother of not being truthful over the issue of their father’s wish to have the family home demolished.

Before he passed away in March, 2015, Lee Kuan Yew had expressed his desire that the house at 38 Oxley Road be demolished because he did not want it becoming a “political shrine.”

He had made that part of his last will and testament.

In a Facebook post, Hsien Yang compared what he said were Hsien Loong’s statements in public and those in private.

Hsien Yang said that despite the prime minister saying in public that the decision to demolish the house did not need to be taken immediately, a “secret committee” of ministers was set up to explore and make recommendations.

When Lee Kuan Yew’s will was recognised as final and legally binding, Hsien Loong did not mount a legal challenge.

However, he privately wrote to the above committee to say that there was no evidence their father knew that the demolition clause “had been reinstated into the last will,” the younger brother alleged.

Hsien Yang also claimed that the prime minister even swore this under oath in a statutory declaration.

Finally, while saying in public that he hoped the government would respect their father’s wish to have the house demolished, Hsien Loong told the committee in private that Lee Kuan Yew would have “accepted any decision to preserve it.”

“The will is final and binding. We have no confidence in Lee Hsien Loong or his secret committee,” Hsien Yang said in his Facebook post.

The tiff between Lee Kuan Yew’s children, simmering since their father’s death, had its lid blown open on Wednesday when the two younger siblings posted an explosive six-page statement saying that they had lost confidence in their elder brother.

Wei Ling and Hsien Yang also accused Hsien Loong of using the state machinery against them.

“We fear the use of the organs of state against us and Hsien Yang’s wife, Suet Fern,” they said. Hsien Yang, chairman of the Civil Aviation Authority of Singapore, said it had got so bad that he and his family intended to move out of the country.

Wei Ling and Hsien Yang also accused their older sibling of trying to establish a political dynasty and wanting to “milk” their father’s legacy.

They said Hsien Loong and his wife Ho Ching – the chief executive officer of state investor Temasek Holdings – harboured political ambitions for their son Li Hongyi.

In an immediate response on Wednesday, Hsien Loong said he was “deeply saddened by the unfortunate allegations that they have made.”

“Ho Ching and I deny these allegations, especially the absurd claim that I have political ambitions for my son,” he said, adding that he was disappointed in his siblings for publicising private family matters.

However, in a Facebook post on Thursday, his sister Wei Ling said she and her brother would not have issued a public statement if the dispute over their late father's house was “merely a family affair”.

Source: The Star/ANN

Related Links:

PM Lee releases summary of statutory declarations over Oxley Road house

Lee Hsien Loong's son says he is not interested in politics

Dispute with Lee Hsien Loong more than a family affair, says sister

Lee Suet Fern says she and husband Lee Hsien Yang are in process of 'preparing to leave Singapore'


Related posts:

Singapore former PM Lee Kuan Yew leaves rich political legacy 

 

Singaporeans from ''Third World to First', emotional farewell to Lee Kuan Yew 

 

Lee Kuan Yew's meritocracy: a key reason for S'pore's separation from Ma'sia, his quotable quotes.. 

 

Malaysia sacrifices talent to keep one race on top, said Lee Kuan Yew of Singapore 

 

Lee Kuan Yew: The last farewell to my wife; A pioneer in her own right 

 

New York Times pays damages to Singapore’s leaders 

 

Dr M: Truth a bitter pill to swallow, new dilemma; LKY: comment on Muslims 'outdated'

Wednesday, June 14, 2017

Goodbye Motorola! How Chicago's greatest tech company fell to earth?

Under the Galvin family, Motorola had soaring achievements. This was the company, remember, that invented the cellphone. Those days are over. What went wrong?  
Click below and Scroll or arrow down to keep reading.

Sunday, June 11, 2017

Earn your money the right way: no quick buck, get paid only for honest, hard work


Get-rich quick schemes drawing the interest of those who want to make a quick buck but really, there is no substitute in getting paid for honest, hard work


AS a Penangite, I am always asked by my colleagues and friends in the Klang Valley why is it that most get-rich-quick schemes are located in the island state and the investors mostly its citizens.

I have asked that same question myself, since I’ve heard enough stories of relatives and friends who have been entangled in this web of financial crookery.

It’s not something new. It used to be called the pyramid scheme and Ponzi but, like most, it is just another scam. The new term is ‘money game’ and it’s probably called this to warn new participants that there will be winners and losers, like in any other game.

However, no one is listening because most people are merely interested in the quick returns from their investments.

There are some reasons why Penang lang (Hokkein for people) have warmed up to these quick-rich con jobs.

Penang is a predominantly Chinese state and rightly or wrongly, the appetite for risk there is higher. Some may dismiss risk as a euphemism for gambling, but the bottom line is, many of its denizens are prepared to roll the dice.

Given that there are so few police reports lodged against operators, despite the huge number of investors, indicates the readiness of these players to try their luck.

They clearly are aware of the element of risk involved when they lay their money down, but the huge returns override any rational thinking. No risk, no gain, they probably tell themselves.

Making police reports against operators also runs the risk of “investors” getting their money stuck if the accounts of the scammers are frozen.

Risk-taking is nothing new to many Penangites. This is a state with a horse-racing course and plenty of gaming outlets. Is it any surprise then that a spat is currently playing out between politicians over allegations that illegal gaming outlets are thriving there?

One politician believes the state government does not have the authority to issue gambling licences and “to single out Penang also ignores the fact that gambling is under the Federal Government’s jurisdiction. We don’t issue such licences.”

It’s bizarre because no one issues permits to illegal gaming outlets. That’s why they are called illegal.

But there are some fundamental sociological explanations to this fixation on earning extra money in the northern state.

The cost of living has gone up there ... and everywhere, too. For the urban middle class, it is a monthly struggle managing the wages – after the deductions – settling the housing and car loans, and accounting for household items such as food, petrol, utility and tuition for the children.

The cost of living in Penang may be lower than that in the Klang Valley, but it is not cheap either. Any local will tell you that the portion of char koay teow has shrunk, although the price remains the same.

But unlike the Klang Valley, where career development and opportunities are greater, the same cannot be said of the island state.

Many of us who were born and brought up in Penang, moved to Kuala Lumpur because we were aware of the shortage of employment opportunities there.

We readily sacrificed so much, moving away from our parents and friends, relinquishing the relaxed way of life and the good food for a “harder” life in the Klang Valley. We paid the price for wanting a better life.

Job advancement means better salaries, but in Penang, where employers have a smaller base, they are unable to match the kind of pay packages offered in KL.

So, an extra few hundred ringgit from such investments does make a lot of difference to the average wage earner.

It is not unusual for many in the federal capital to take a second job to ensure they can balance their finances.

I don’t think many Penangites expect to be millionaires, at least not that quickly, although JJPTR has become a household acronym since hitting the market in the last two years. As most Malaysians by now know, it stands for JJ Poor-to-Rich, the name resonating well with middle class families.

Its founder, Johnson Lee, with his squeaky clean, boyish looks, assured over 400,000 people of his 20% monthly pay-outs and even more incredibly, convinced many that billions of ringgit vanished due to a hacking job.

Then came Richway Global Venture, Change Your Life (CYL) and BTC I-system, among others. And almost like clockwork, Penang has now earned the dubious reputation of being the base for get-rich-quick schemes.

Having written this article while in Penang, I found out this issue continues to be the hottest topic in town, despite the recent crackdowns by the authorities.

My colleague Tan Sin Chow recently reported in the northern edition of The Star that “money games are on the minds of many Penangites.”

On chat groups with friends and former schoolmates, it has certainly remained very much alive.

Tan wrote: “Another friend, Robert, had a jolt when, a doctor he knew, told patients to put their money into such a scheme. A doctor!

“From the cleaners at his office to the hawkers and professionals he met, everyone, it seems, was convinced. None questioned how the high returns could come to fruition in such a short time.”

We can be sure that these get-rich-quick scheme operators will lie low for a while, but the racket will surface again, in a different form and under a different name.

There is no substitute for honest, hard work. Money doesn’t fall from the sky, after all.

BY Wong Chun Wai The Star

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group's managing director/chief executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

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On Mcoin, Bitcoin and points of investment



MCOIN is still very much a talking point, especially in Penang. To the uninitiated, it is the “digital currency” of MBI International, a company involved in a myriad of activities and hogging the limelight for the wrong reasons after being flagged as one of the entities not recognised by Bank Negara.

Since Bank Negara’s warning two weeks ago, the company’s accounts amounting to some RM177mil have been frozen. The cash in question is significantly much more than the previous major scheme that came under probe by Bank Negara and other agencies.

In 2012, the authorities froze RM99.8mil in bank accounts of Genneva Malaysia Sdn Bhd. Also, 126kg of gold were carted away from the office. It has been five years and the investors, most of them ordinary wage earners looking to earn an extra buck from their savings, have yet to receive their money.

One of the reasons is likely that the liabilities of Genneva Malaysia are 10 times more than the assets recovered.

MBI International, which is primarily based in Penang, has a network stretching up to China. According to reports, it has come under pressure from some investors wanting a return of their money.

However, outlets in M Mall in Penang are still accepting Mcoin for the purchase of goods and services. There is no rush to cash out, as one would have expected, considering that the accounts of MBI International have been frozen.

Nonetheless, it is only a matter of time before the value of Mcoin and the ability of MBI International to return money to its investors is put to the test.

Based on previous events that led to companies having their bank accounts seized by the central bank, it would be a long time before the investors are able to retrieve their cash.

There are some who are completely ignorant of the new global order of currencies and money, making comparisons between Mcoin and the rise of cryptocurrencies such as Bitcoin.

If anybody is harbouring any hope that the value of Mcoin would rise just like the phenomenal bull run seen in the world of cryptocurrency, they had better stop dreaming.

There are fundamental differences between instruments such as Mcoin, which in essence is a token to redeem goods at a few outlets, compared to cryptocurrency that is fast gaining traction as an alternative currency around the world.

Mcoin has unlimited supply and its value is controlled by one entity. How the value is derived is not clear.

In contrast, cryptocurrencies such as Bitcoin have a limited supply. And the supply is decentralised – meaning no one entity controls the supply. There is a ledger that tracks all transactions and measures the amount of supply and how much more is available.

The objective of the people behind cryptocurrency is to come up with a currency that is not controlled by central banks. New supply can only come about after hours of a process called `mining’.

The mining process is a complicated one. It involves many hours of programming and utilising high computing skills to predict the next chain in the block of coins. The data used is based on historical transactions and it is said that one block is created every 10 minutes.

Only one successful miner is rewarded with a slice of the cryptocurrency at any one time. He or she can then transact it in an exchange.

The first cryptocurrency is Bitcoin, which began operating in January 2009.

Bitcoin is only one of the hundreds of cryptocurrencies in existence. There are many more new coins coming up, improving on the technology pioneered by Satoshi Nakamoto.

Nobody knows who is Satoshi or if he really exists. However, the legend is that he wanted a currency that is not under the control of central banks, hence the birth of Bitcoin, the first decentralised currency.

The market capitalisation of all cryptocurrency was US$27bil as of April this year – four times more than what the value was in January this year.

Much of the rise is attributed to the volatile US dollar. A few years ago, if anybody had said that cryptocurrency such as Bitcoin would be used to hedge against the US dollar, many would have laughed it off.

Today, however, it is the reality.

The cryptocurrency fever has picked up in China, which has the largest number of “miners” in the world. One reason is said to be because some see it as one way to take capital out of the country.

In India, when the government decided to demonetise the popular 1,000 and 500 rupee notes, there was a 50% increase in the trading of Bitcoin, as people saw it as one way to legalise their black money.

Bitcoin soared past the US$2,500 mark last week, which is a four-fold increase since January this year. There are many other cryptocurrencies, such as Ethereum, that are all seeing a bull run.

The world of cryptocurrency has taken a life of its own. Computer geeks with “blockchain” expertise, the technology that drives the decentralisation settlements of cryptocurrency, are commanding more than US$250,000 per annum.

It is said to be more than what a consultant or a software engineer can earn.

Those who have put their money into cryptocurrency would be laughing all the way to the bank now. But dynamics and fundamentals are complicated. The strength of the cryptocurrency is not based on historical numbers. It does not have an asset backing it.

It is based on future expectations of what the designer of the cryptocurrency offers. It is a complicated investment not meant for the unsophisticated investor.

Only fools will go for investment schemes that are unregulated and offer promises of returns that are unsustainable. They will lose all the time.

The smart investor will rely on traditional stocks and shares with earnings that are visible. Those who are not greedy will surely gain.

The super-smart geeks are banking on the world of cryptocurrency that has a volatile history. Their fate is uncertain.

Source: The Star by M. Shanmugam

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Saturday, June 10, 2017

Penang Chief Minister may have too much on his plate, be fair when sharing power



CM may have too much on his plate


GEORGE TOWN: Penang Gerakan has questioned the efficiency of Chief Minister Lim Guan Eng as the chairman of numerous state-linked agencies and departments.

Its publicity bureau chief Ooi Zhi Yi said that besides being the chief minister, the Bagan MP and Air Putih assemblyman chairs 11 agencies and departments.

“He was recently also appointed chairman of the Penang Stadium Corporation And Open Spaces at the state assembly sitting,” he said.

Ooi asked what had happened to the DAP’s decentralisation of administration and power-sharing policy which it claimed to advocate?

“Is Lim able to handle various responsibilities in different agencies and departments simultaneously?

“Why can’t the state government identify any state executive councillor or assemblyman to hold some of the posts?” he further asked at a press conference at the Gerakan headquarters yesterday

The 11 state agencies and departments which Lim heads are the Penang Development Corporation (PDC), PBA Holdings Bhd (PBAHB) and its unit Perbadanan Bekalan Air Pulau Pinang (PBAPP), Penang Global Tourism (PGT), Penang Hill Corporation (PHC), Penang Convention and Exhibition Bureau (PCEB), George Town World Heritage Inc (GTWHI), the Penang State Museum, investPenang and two subsidiaries under PDC namely the BPO Premier Sdn Bhd and Premier Horizon Ventures Snd Bhd.

When contacted yesterday, Wong Hon Wai, who is Lim’s political secretary, said it is a customary process for a state leader to hold important positions in all the government statutory bodies.

“It is similar to how the Prime Minister and Mentri Besar chair important government bodies,” he explained. - Tbe Star

‘Be fair when sharing power’‘


GEORGE TOWN: The MCA wants the Penang government to create a check-and-balance to counter the Chief Minister’s influence in 19-state linked agencies, statutory bodies and government subsidiaries which he helms.

Penang MCA organising secretary Dr Tan Chuan Hong said the mechanism must include NGOs such as the Penang Forum, Consumers Association of Penang and Penang Heritage Trust.

He said the NGOs should have the right to oppose and express their views whenever needed.

He said Chief Minister Lim Guan Eng had in a written reply to Sungai Dua assemblyman Muhamad Yusoff Mohd Noor at the recent state legislative assembly sitting revealed that he was the chairman of 19 bodies.

“This is not only shocking but also contradicts the CAT principles of Competency, Accountability and Transparency which the DAP-led state claims to practise.

“Where is a person’s credibility if he holds all positions which are closely associated with his position as chief minister. And what about the power-sharing principle advocated by the state government?” Tan asked.

He said since Lim ‘monopolised’ most of the chairman positions, state exco members such as Chow Kon Yeow, Danny Law and Jagdeep Singh seemed to be given merely supplementary roles to play.

Among the bodies helmed by Lim are the Penang Development Corp (PDC), Penang Global Tourism, PICEB Sdn Bhd, PGC Strategies Sdn Bhd, Penang Water Supply Corp Bhd (PBAPP), PBA Holdings Bhd, Penang Hill Corp, Invest Penang and the state museum board.

He gets an annual RM10,000 allowance as PDC chairman, RM3,000 monthly allowance as PBAPP chairman and RM500 monthly allowance as PBA Holdings Bhd chairman.

Lim also gets allowances which range from RM250 to RM500 per meeting that he attends in some of the statutory bodies and subsidiaries that he helms. - The Star

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Prospering with Belt and Road to reap the benefits of China's initiative


Malaysia is one of 64 countries to reap the benefits of China’s initiative.


CAN money grow on fruit trees?

Yes, that is as far as Agriculture and Agro-based Industry Minister Datuk Seri Ahmad Shabery Cheek is concerned.

After witnessing the signing of a deal worth US$1.53bil (RM6.65bil) between Malaysia’s AgroFresh International and China’s Dashang Group for the export of local Cavendish bananas and tropical fruits to China, he said:

“Money does grow on fruit trees if our agriculture products could open up China’s market.”

The deal was part of the nine memorandums of understanding (MoUs) and agreements, with value totalling more than US$7.22bil (RM31.26bil), which were signed between Malaysian and Chinese companies on May 14.

But Datuk Seri Ong Ka Chuan, International Trade and Industry Minister II, sees more money flooding in once Malaysia is linked up with other Asean nations, China and Europe via rail connection under China’s Belt and Road Initiative, now termed as the New Silk Road project.

“Our trade figures can jump by three to four folds once Malaysia can export and import goods to our major trade partners (such as China, Europe and Middle East) overland via rail systems,” he tells Sunday Star.

Both ministers are among Cabinet members in the Malaysian delegation led by Prime Minister Datuk Seri Najib Tun Razak to attend the Belt and Road Forum for International Cooperation held in Beijing from May 14 to 15.

Malaysia is one of the 64 countries outside China that have benefited from the Belt and Road Initiative, propounded by Chinese President Xi Jinping in the autumn of 2013.

One project to be launched soon will be the RM55bil East Coast Rail Link. Examples of existing projects include Xiamen University and the deepening of Kuantan Port.

At the opening ceremony of the forum, Xi injected fresh impetus to his pet project by announcing hundreds of billions in new funds for infrastructure investment in Belt and Road countries that span Asia, Middle East and Europe.

According to some estimates, Chinese funds allocated for investing in Belt and Road countries – which include several exiting funds announced since 2013 – total around US$900bil (about RM4 trillion) now.

“Model of regional cooperation”

From Mongolia to Malaysia, Thailand to Pakistan and Laos to Uzbekistan, many projects, including high-speed railways, bridges, ports, industrial parks, oil pipelines and power grids, are being built, Xi said.

Since 2013, Chinese private businesses have invested more than US$60bil (RM260bil) in countries along the Belt and Road, in addition to the US$50bil invested by the Chinese government.

Xi’s speech also reveals that China will expand China-Europe railway cargo services, which are stirring up excitement in European nations – particularly Britain.

Belt-road: Ong signing Belt and Road MoU with Vice Chairman of National Development and Reform Commission of China Zhong Yong on May 13, 2017. Witnessing are Najib and China’s Premier Li Keqiang.

Calling his brand of globalisation as “project of the century” to achieve a win-win situation for all, Xi has committed to importing US$2 trillion (RM8.7bil) of goods from the 64 Belt and Road countries – many of which are under-developed and impoverished nations hungry for infrastructure and industrial investments.

The Chinese leader’s pledge of “non-interference” with the domestic politics of other countries is comforting, given that there are concerns that China could aim to be a hegemony with its economic and military might.

“What we hope is to create a big family where we can co-exist harmoniously,” Xi said last Sunday in his speech that also focused on connectivity in policy, infrastructure, trade, finance and people.

The forum is by far the most important and largest meeting on the Belt and Road Initiative since 2013.

About 130 countries were represented at the forum and they accounted for two thirds of the world’s population. Their combined gross domestic product accounts for 90% of the world’s total, according to Xinhua.

Klaus Schwab, founder and executive chairman of the World Economic Forum, regards the Belt and Road Initiative as “a shining model for regional collaboration, development and growth”.

“This initiative respects the differences between countries and their various paths for development, not imposing a specific plan or ideological framework, but seeking to create common ground for cooperation and mutual benefit,” Schwab told Xinhua.

UN secretary-general Antonio Guterres, also told Xinhua: “China will play a very important role in multi-lateralism with the Belt and Road. The initiative reflects a new model of international cooperation and interaction with mutually beneficial cooperation through the connection of policies and development strategies.”

And Jack Ma, executive chairman of Alibaba Group, shared: “The initiative goes far beyond the economic strategy of any single country or region. Its mission is to make the world more innovative, dynamic, and equal.”

Big step: Fernandes is excited that China has allowed AirAsia to be the first low-cost carrier to set up shop in the Middle Kingdom.

AirAsia deal – another first in China

On the sideline of the forum, Malaysian and Chinese leaders took the opportunity to clinch more agreements that brought bilateral ties to another new high.

While the deals signed last November were far more than this round and higher in total value, the Chinese Government continued to grant “first” to Malaysia. This was reflected in a project given to Tan Sri Tony Fernandes, group chief executive officer and founder of AirAsia Bhd. Soon, the sky will see AirAsia China.

“It is the first time a foreign airline is given permission to establish and operate a low-cost carrier in China. We are the first country to be granted such licence,” Najib told reporters at the conclusion of his visit to China.

AirAsia is establishing a joint venture with China Everbright Group, with an initial stake of 22%. However, AirAsia may raise its stake in future.

China Everbright is a government-owned financial services conglomerate, which is a major shareholder in China Aircraft Leasing Group Holdings Ltd and the Henan Government Working Group.

The plan is to set up AirAsia China to be based in Zhengzhou, the capital of Henan, to ply domestic and international flights.

“Tony Fernandes was very excited because he was able to meet the top transport and aviation officials, whom he could not secure appointments with previously. He has been working on this project for years,” a minister told Sunday Star.

Other Cabinet ministers are also upbeat after attending the Belt and Road Forum.

“I have witnessed the fruits of the close diplomatic ties between Malaysia and China, and between Najib and Xi Jinping during this trip,” says Transport Minister Datuk Seri Liow Tiong Lai, who signed a MoU on infrastructure cooperation with China.

“In China, economic developments are influenced by government policies. Now that our leaders have good ties with China, it is very timely for Malaysian businessmen to enter China, and vice versa,” he tells Sunday Star.

Important talks: Liow (second from left) leading a Malaysian delegation at a meeting with his Chinese counterpart at China’s Transport Ministry in Beijing on May 12 morning. From left are Transport Ministry deputy secretary-general Datuk Chua Kok Ching, MCA vice president Datuk Dr Hou Kok Chung and Fernandes.

“We have to promote economic growth fast enough so that we can harvest the fruits of the Belt and Road Initiative.

“The opportunities for Malaysia to develop the infrastructure and boost economic growth would not be available if not for the Belt and Road Initiative pushed forward by China,” he adds.

Minister in the Prime Minister’s Department Datuk Seri Dr Wee Ka Siong observes: “There are quite a number of business-to-business MoUs signed during this trip, in addition to the nine witnessed by Prime Minister Datuk Seri Najib Tun Razak.

“I was also invited to attend many discussions and meetings, sometimes I had to have many meals a day! (as discussions were held over meals).”

Wee, whose ministerial portfolio covers development of Chinese small and medium enterprises (SMEs), has personally requested Ma to reduce charges for Malaysian SMEs when they use Alibaba’s platform to sell products.

Ma, an e-commerce wizard and China’s second richest man, is expected to give consideration to the proposal as he has pledged to help Malaysia develop its digital economy. Ma will set up the Asean data centre in Malaysia before the end of the year.

Analysing Belt and Road Initiative, Shabery Cheek says: “Belt and Road is a different form of cooperation from other pacts, such as the Trans-Pacific Partnership (TPP) and World Trade Organisation (WTO). Those emphasised on what goods were tax-free and what were not, which sectors to open up and which could not. Essentially, they focused on how to protect the self-interests of individual countries.

“However, the Belt and Road talks about infrastructure networking, which is very important. They take the cue from the ancient Silk Road, which was not only a channel to transport goods, but also to spread Islam and Buddhism. That is a great thing.”

Source: Sunday Star by Ho Wah FoonTho Xin Yi

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