• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Economic News

winners

Alfrescian
Loyal
Wonder how many of them were secretly or openly happy when reading news of Spore economy falling? Until the retrenchment axe falls on them.
Not to worry. These same forumers will now confidently tell you that they still have the Chinks to depend upon. Look at Forest City, Princess Cove, Country Garden Danga Bay, etc. They will never acknowledge the fact that the Chinks will employ their own types first before considering the locals, unless for those menial jobs, which even the Malaysians themselves avoid. Sit down, relax and enjoy whilst still can.
 
Last edited:

snowbird

Alfrescian
Loyal
Those with bullets left will be sibeh happy. You know Trump bought new york asset during recession time, each of them turn out to be super lucrative investment...worth 100x more.

The rich will always do the cleaning after others ppl impulsive disorder had faded. Im still not sure whether 2017 is a good buy in time...but if situation persist, can wait until 2018 only get in.

Is just a cycle, not persisting deflation threat like what happened in japan.

The recent massive retrenchment both in MY and SG will leave many people jobless for a long time and JB is badly hit.
There is little signs that the O&G sector will be recovering anytime soon so, job seekers will be having a tough time getting a new job.
Next to worry should be the banks because many of the loans takers for properties, cars, etc. may be affected and the banks may ended up with lots of bad loans.
However, in MY, it is not just the economy that matters, the current political instability and the outcome should be more of a major concern.
 

ginfreely

Alfrescian
Loyal
Yeah, I'd repeatedly warned those people to be very careful what they wished for, it might come true.
More than 30,000 had been retrenched this year, many from Keppel and Semcorp, and maybe more to come and many are Malaysians from that 300,000 group coming in everyday.

http://www.humanresourcesonline.net/keppel-reduces-workforce-8000-first-three-quarters-2016/

Giving warning to ingrates have no use. It's all in their big self entitlement mindset which will not changed with a few words from anyone.
 

ginfreely

Alfrescian
Loyal
Also wonder how many are openly happy that JB economy will fall even worse compared to SG and that Singaporeans have purchased properties in JB?

It's people's prerogative to wish strangers good or bad as long as it's done in aboveboard manner like didn't post false news, all got proof got talk; and they are not ingrates who take money, jobs and other benefits from you - or at your expense - and then wish you dead or worse lowlife who used underhanded means to make you dead.
 

ginfreely

Alfrescian
Loyal
Not to worry. These same forumers will now confidently tell you that they still have the Chinks to depend upon. Look at Forest City, Princess Cove, Country Garden Danga Bay, etc. They will never acknowledge the fact that the Chinks will employ their own types first before considering the locals, unless for those menial jobs, which even the Malaysians themselves avoid. Sit down, relax and enjoy whilst still can.

Yes they should thank najib for the China deals to create new jobs for them. I don't think the PRCs can get away with not hiring locals for decent jobs as Malaysia govt only allows foreign workers to do menial jobs from what I see and do not give out employment pass so easily like in Spore. You visit those China project show house will see many local sales people working in these China projects, alongside the PRC sales people. And frankly the PRC sales people surpassed in everyway from their melodious mandarin to their pleasant attitude.
 

Frodo

Alfrescian
Loyal
It's people's prerogative to wish strangers good or bad as long as it's done in aboveboard manner like didn't post false news, all got proof got talk; and they are not ingrates who take money, jobs and other benefits from you - or at your expense - and then wish you dead or worse lowlife who used underhanded means to make you dead.

I mean it is mean spirited to wish a complete stranger bad, even if it is done openly.
 

snowbird

Alfrescian
Loyal
Yes they should thank najib for the China deals to create new jobs for them. I don't think the PRCs can get away with not hiring locals for decent jobs as Malaysia govt only allows foreign workers to do menial jobs from what I see and do not give out employment pass so easily like in Spore. You visit those China project show house will see many local sales people working in these China projects, alongside the PRC sales people. And frankly the PRC sales people surpassed in everyway from their melodious mandarin to their pleasant attitude.

You'll be surprised to know how many Mainlanders are now working in those major Chinese projects and I'm talking not about those pretty salesgirls in smart suits and high heels but construction workers speaking totally incomprehensible native Chinese dialects. In the evening, many can be seen loitering around in the JB city area pasar malam, in shopping centers etc. and some better paid skilled ones maybe patronizing the massage parlors too.
 

snowbird

Alfrescian
Loyal
This weekend, there will be a big rally BERSIH 5.0 in KL.
Just today, the Bersih chief Maria Chin Abdullah was arrested but the committee promised to go ahead as planned with or without their chief's presence.
The Red Shirt are also planning also a big rally to disrupt the Bersih 5.0.
While the Bersih participants are all volunteers, everyone knows the Red Shirt is a sponsored rented mob sponsor and their main intention is to create trouble with many masking over their face to avoid detection.
Some simple pushing, raffling, shouting and destroying of public properties is enough for the police to act, never mind if its deliberate provocation or self defense.............however, those with face mask after causing the required riot, confusion and chaos will disappeared to nowhere.

Wonder how this event will turn out?
Wonder if China is going to do nothing to allow chaos to take place.
 

ginfreely

Alfrescian
Loyal
You'll be surprised to know how many Mainlanders are now working in those major Chinese projects and I'm talking not about those pretty salesgirls in smart suits and high heels but construction workers speaking totally incomprehensible native Chinese dialects. In the evening, many can be seen loitering around in the JB city area pasar malam, in shopping centers etc. and some better paid skilled ones maybe patronizing the massage parlors too.

I have seen these PRC construction workers doing painting at Forest city carpark. These are jobs that no Malaysians want to do - all done by indon, Bangla, Pakistani - so the locals should have no complaints of these PRC construction workers, in fact the locals should be grateful for the grocery and whatever business the construction workers bring to them. Unlike Spore, there is alot of space to accommodate their housing and not much people take public transport so you hardly see them around except near their worksite.
 

snowbird

Alfrescian
Loyal
I have seen these PRC construction workers doing painting at Forest city carpark. These are jobs that no Malaysians want to do - all done by indon, Bangla, Pakistani - so the locals should have no complaints of these PRC construction workers, in fact the locals should be grateful for the grocery and whatever business the construction workers bring to them. Unlike Spore, there is alot of space to accommodate their housing and not much people take public transport so you hardly see them around except near their worksite.

But the point is these developers are actually bringing their own battalion of workers, from engineers to supervisors to construction workers.
Some dumb minister were boasting that all these developments are creating tens of thousands of jobs but they forgot to mention its jobs for the Mainlanders and not Malaysians.
 

ginfreely

Alfrescian
Loyal
But the point is these developers are actually bringing their own battalion of workers, from engineers to supervisors to construction workers.
Some dumb minister were boasting that all these developments are creating tens of thousands of jobs but they forgot to mention its jobs for the Mainlanders and not Malaysians.

Not true the jobs are for PRCs only. I am not sure about the construction engineers and supervisors, but definitely there are sales and admin jobs created for the locals by these developers as I have seen when visiting their show flats. As for construction workers, no or few Malaysians want to work in 3D jobs according to their news - dirty, dangerous and difficult jobs like construction workers - so nothing wrong for developers to bring their own PRC workers.
 

sgtsk

Alfrescian
Loyal
A RM43 billion (S$14 billion) harbour being developed in Malacca aims to overtake Singapore as the largest port in the region, but questions are being raised about the need for the added capacity and whether China's eager participation has to do with good business or its crucial strategic interests in the Malacca Strait.

For China, not only does most of its trade pass through the Malacca Strait, but so does up to 80 per cent of its energy needs. This prompted then President Hu Jintao to make the "Malacca Dilemma" a key strategic issue as far back as 2003.

"There is the strategic element of the Malacca Strait. It always starts with an economic presence, which can develop into a naval one, because China will be obliged to ensure the safe passage of its commercial ships," said Dr Johan Saravanamuttu of the S. Rajaratnam School of International Studies, who studies the Malaysia-China relationship.



The Melaka Gateway joint venture is part of a wider port alliance between Kuala Lumpur and Beijing to increase bilateral trade and boost shipping and logistics along China's much-vaunted Maritime Silk Road.

Chinese firm Guangxi Beibu International Port Group already owns 40 per cent of Kuantan port, which faces the disputed waters of the South China Sea, and 49 per cent of the Kuantan Industrial Park in Pahang, the home state of Malaysian Prime Minister Najib Razak.

The Malaysian authorities are talking up the game-changing Melaka Gateway deal between little-known KAJ Developments and energy giant PowerChina International, which will form a joint venture and spend RM30 billion to reclaim three islands off Malacca's coast. The entire Gateway development will be completed in 2025 but the deep-sea port is expected to be ready by 2019. The Malaysian government hopes to attract the bulk of 100,000 vessels, most of them Chinese, that ply the Malacca Strait annually.

Some industry players have expressed concern about the cannibalising of existing ports along the strait, especially in the light of Singapore's own port expansion.

Though the Malaysian government has said a new port is needed because Klang, the country's most important port, will be full by 2020, studies appear to show otherwise.

A World Bank study commissioned by the government last year showed a new port on Malaysia's west coast is not necessary, as existing facilities have yet to reach capacity, according to sources. Both operators at Port Klang - Westports and MMC - have also made expansion proposals that would double the port's capacity, the sources added.

"Because there seems to be no logic to the Melaka deal, many are questioning if this has more to do with military rather than commercial interests," a logistics player told The Straits Times.

Sources also said the reclaimed islands would be given freehold status and the port granted a 99-year concession - both rare and generous terms. Melaka Gateway did not respond to a request for comment.

China's military presence around Malaysian waters has increased significantly since last year. In September last year, all three branches of the Chinese armed forces took part in a six-day joint exercise on "disaster relief" in the Malacca Strait.

China has also gained access to Kota Kinabalu, a crucial dock in Sabah close to the disputed Spratly Islands, where Beijing's construction activities have been a source of diplomatic strife in the region.

A former port authority chief noted that China has made moves to reduce its reliance on the Malacca Strait, such as via port-and-rail or pipeline projects in Pakistan, Myanmar and Eastern Europe, which means "we cannot take Beijing's commitment here for granted".

"If China pulls out her support, the port becomes useless because it has no hinterland, unlike Klang and Penang which serve a big local market. In fact, many businesses prefer to send their goods to Klang by road instead of the existing Malacca or Penang ports because it is more efficient."

Critics have questioned Malay- sia's over-reliance on China, in the light of the huge deals struck during Datuk Seri Najib's recent visit to Beijing, as well as a whopping RM55 billion loan to build a railway that will eventually link Port Klang on the west and Kuantan port in Pahang and also Terengganu and Kelantan.

"There is the question of over-dependence, and the diplomatic leverage involved if Beijing were to move in more aggressively. So far, Najib is still hedging, but when it comes to investments, you can't expect as much from America as you can from China. If you want to go up against Singapore, then this port makes sense, especially when it is in the form of foreign investment, given Malaysia's fiscal constraints," said Dr Saravanamuttu.

Transport Minister Liow Tiong Lai batted away these concerns on his return from Beijing, telling reporters that "with the economy growing, we need more ports". He said: "The port alliance... has seen results, bringing more competitiveness to our ports and logistic sectors."

http://www.straitstimes.com/asia/se...-raises-questions-about-chinas-strategic-aims
 

sgtsk

Alfrescian
Loyal
A new harbor worth 43 billion Ringgit ($9.73 billion) is set to be built in the Malacca Strait, expected to overtake Singapore as the largest port in the region. Melaka Gateway, co-developed by China and Malaysia, will be a milestone project in China's "Belt and Road" (B&R) initiative, marking an elevated relationship between both countries and injecting new energies into the world's busiest waterway. However, the port has raised questions in Singapore, which suspects that China would turn the port into military use.

The Singapore-based Straits Times quoted an expert in a recent report, saying the new port is a "strategic element of the Malacca Strait," and China's advancement always "starts with an economic presence, which can develop into a naval one."

Singapore's skepticism, argue some Chinese experts, comes from concern about the competition the new port could cause to Singapore. By ramping up hyperbole over the military, Singapore wishes it could arouse more opposition against the project, especially in Malaysia.

Singapore, like many skeptics of China's economic activities overseas, has underestimated the judgment of the Malaysian government which embraces China's willingness to cooperate. If the seaport will put the country at costly geopolitical risks, how could Kuala Lumpur agree in the first place and believe in its prospects?

Singapore's stir has led to a question that has been debated for a few years - Is China's growing economic presence along the "Belt and Road" meant to serve China's so-called hegemonic ambitions?

The B&R initiative is a landmark proposal China is advancing for greater interconnections between members of the international community.

It is designed to be a major impetus to globalization that will benefit both developing and developed worlds in a more appropriate way. But it has been depicted by Western media as a reflection of China's ambitious rise to hegemony. Singapore has never understood what is different about China's rise.

The naysayers' skepticism is entirely based on speculation. China has no intention to turn its overseas economic investments into military bases. The only political purpose for China's massive investments is for other countries to find a gateway to understand China is a contributor to the world economy and global governance rather than a dominator in international affairs.

It takes time for the rest of the world to overcome the inertia of the profound China threat theory, and understand and agree on China's advocacy. Seaports like Melaka Gateway, high-speed rail like the Jakarta-Bandung railway and many other projects China is engaged in will serve as vanguards to demonstrate its commitment to joint development.

http://www.globaltimes.cn/content/1019171.shtml
 

Investor888

Alfrescian
Loyal
the Melaka port had better not materialise. Singapore will be relegated back to the days when Sir Stamford Raffles just set foot on it.
 

Jetstream

Alfrescian
Loyal
Both Port Klang and Tg Pelepas have long harboured ambitions to overtake Singapore port. Both these M'sian ports are on the Malacca Straits and near major economic centers of Selangor/Klang Valley and S'pore/Johor. Yet neither port has overtaken S'pore port yet. I can't see how this new port in Melaka which doesn't seem to have any larger hinterland than any of the other mentioned ports, can command so much volume or attractiveness to draw volume from the other ports. Unless of course they are saying the China element is the magic ingredient that could make the difference?
 

snowbird

Alfrescian
Loyal
Both Port Klang and Tg Pelepas have long harboured ambitions to overtake Singapore port. Both these M'sian ports are on the Malacca Straits and near major economic centers of Selangor/Klang Valley and S'pore/Johor. Yet neither port has overtaken S'pore port yet. I can't see how this new port in Melaka which doesn't seem to have any larger hinterland than any of the other mentioned ports, can command so much volume or attractiveness to draw volume from the other ports. Unless of course they are saying the China element is the magic ingredient that could make the difference?

I3-silk_road_map_opt.jpeg


Those who really think that China's proposal to build a deep sea port in Malacca is to improve the infrastructure for Malaysia, its ignorance, unable to see the bigger picture of China real intention.

Take a good look at the attached image. - that is China's ambitious One Road One Belt map.
The Blue line is the proposed sea route, spanning westward from China up to the Suez canal and into the Mediterranean Sea which will reach to all parts of Europe.
Between this two points will be the South China Sea, the Indian Ocean and the seas in the Middle East.
China is now busy trying to secure strategic positioning and political influence along this route.
What is happening in the South China Sea is already an open secret - several islands were build complete with airbase and deep sea port facilities.
China has deep sea ports in Myanmar and Sri Lanka, both are also along the One Belt sea route.
Having a deep sea port in Malacca is just another important strategic point in the Straits Of Malacca, which in turn completely securing the route from China up to Sri Lanka.

Whether those ports are really beneficial to those countries - Sri Lanka, Myanmar and maybe later Malacca/Malaysia?
Up till now, both Sri Lanka and Myanmar, the ports are grossly under utilized are not seeing the "benefits" yet and maybe for a long time to come.
However, if plans to build a deep sea port in Malacca do not materialize, there is still the Forest City to fall back on where a deep sea port was actually proposed for ocean cruisers.
Maybe putting many Chinese in Forest City is also part of the game plan, will they really ever know who will be the new residents.
 

Manhattan

Alfrescian
Loyal
Just providing an alternative view. Maybe China's intention is really out of good will, to promote free trade and benefit everyone as a whole. In an ancient Chinese book called the 推背图. The prediction for the future of the world is not apocalypse or world war, but a 大同世界。Which means everyone in the world live in equality and harmony. Maybe that's the real motivation?
 

snowbird

Alfrescian
Loyal
Just providing an alternative view. Maybe China's intention is really out of good will, to promote free trade and benefit everyone as a whole. In an ancient Chinese book called the 推背图. The prediction for the future of the world is not apocalypse or world war, but a 大同世界。Which means everyone in the world live in equality and harmony. Maybe that's the real motivation?

Please don't be mistaken, the Chinese One Road One Belt is noble intention meant to revive free trade between the East and the West as what they did thousands of years ago when Chinese travelled by road, the slow and hard way, to Europe to trade, showing the European for the first time fine silk, fine chinaware and tea. As for sea route, Chinese Admiral Cheng Ho visited Malacca over 600 years ago, bringing with him Chinese people and culture to SE Asia, giving birth to the new fusion Nyonya culture.
 
Top