Malaysia Decided - 2008

The people of Malaysia (of all races) have expressed themselves through their votes over the weekend. The result, as you know, has been quite a pleasant surprise for most Malaysians. The general sentiments are - this is a brand new start for a batter and fairer future for everybody.

Having a louder voice in the Parliament formed by a slim majority (2/3 denied), the oppositions (which are the ruling parties in 5 states) will have more leverage to ensure the check and balance in various aspects of the governance of the country, including political and economic policies, which will be ironed out for greater transparency and accountability.

The stock market (Malaysian Bursa) took severe beating, down by 10% which triggered the circuit breaker. Is has been renewed shortly before 4pm a moment ago. A substantial amount of foreign funds has been pulled-out from the country because foreign investors are not yet sure (perhaps still trying to digest and understand) about the situation. This could be a correctional period toward stronger fundamentals with less political influence especially on certain related counters.

As far as Pahang and Terengganu states are concerned, where most of our business interests are located, the ruling parties are still the same parties but with, like the Parliament, stronger opposition voices which will result a good balance. As at now, the legislative lineups for both states have not been finalized yet. True, it is good to deal with familiar faces in the state governments. However with G’s track records and values to offer towards the development of mining and manufacturing industries in both states, it will be seen by the new guards, who will be closely watched by the oppositions, positively - based on merits. To the Board of Directors and the Shareholders of XXX Limited, I assure you that we are approaching a new interesting and very promising era with more transparency in the administration of the country with enhanced professionalism.

I have personally gone through these transitions not once, but twice, over the previous two elections in the Sate of Terengganu. The state executives serve the Government of the Day and they have been very professional and apolitical.

Today, as we speak, the country is as peaceful as ever and business is as usual. Nobody has taken their defeat or victory to the streets. In fact there are positive signs and remarks everywhere – the streets, the coffee shops, blogs, on line and internet news and facebook.

Over the weekend, Malaysians have rejuvenated their pride to be Malaysians, a better and stronger pride. We have reached a new, higher level of democracy and this is an excellent indicator for a better MALAYSIA.

MH