Recent news from the street, and from the newspaper and unconventional news portal, indicates several VIPs went on to stage their children's wedding as show case, and ala drama kind of real celebration. Prime Minister's daughter, then Deputy Prime Minister's daughter, Menteri Besar's daughter,.....etc, has been putting some sparkle and live life into this dull and stiff fighting political situation in Malaysia.
Malaysia has experienced with steady social economic restructuring since 1970s. It was Tun Razak started the New Economic Policy (NEP) in 1971, Tun Hussein Onn enforced the change in 1976. Tun Mahathir has championed it from 1981 until Tun Badawi took over the helm of Tun Mahathir in 2003. Tun Mahathir slow down its pace during the last five years of his tenure. Tun Badawi cordially relaxed the enforcement because NEP has made it. When Dato' Seri Najib took over in 2009, he replaced it with "Economic Transformation"..
From then on, he started "1 Malaysia", he professed a situation of projecting on "1 Nation, 1 Race, 1 Economy......". He engineered the changed platform, using 1MDB to demonstrate his political advancement. Most people mentioned the change or rather the keyword of "transformation" is not what being described, although he had tried to administer it well. He attempted to solve the "economic trap" that every country must face with. Malaysia has long been in the state of "Ethnic Based Welfare State". There were a lot of public expense and action plan to create a model of ethnic based economic state. So much so that, when the political power is intact, more and more action plan galvanised their situation, making it conveniently bucking the public fund, resulting in mis management and deferred cost (that the taxpayer and government need to pay dearer price) resulting from the Privatisation and Deferred Financial Initiatives).
1MDB is created through the way and which the Social Welfare State Formula continue to excel. Some of the "good assets" has been alienated, eg land bank, power plants were acquired through gearing. Loans were obtained and of course with the help of Government for their Guarantee to the lenders. This contingent liability is no part in Government's current account balance, but instead an anticipation or pluracity threating the country economy if the 1MDB can't repay the loan. So far, it was still intact. And of course, PM DS Najib definitely protects his brainchild aggressively. In another extreme, cash payment and grant to the poor and the needy group, and also some undisputedly due to leakage - some individual benefited through the "deals" and "commission payout" from the fund raising exercise.
The Opposition, DS Najib's political rivals, has indefinitely oppose to 1MDB. Some law makers has demonstrated how "BAD" is it, though it has good long range outlook and positive return. Some say the government land were sold at the very low price resulting in government losing the revenue, and I think it is merely going from right pocket to the left. After all, 1MDB is government own anyway. The point that DS Najib's political rival is trying to highlight that 1MDB or rather the Government suffer because high interest payout , high commission paid to the loan arranger and fund managers and high cost of maintenance of the whole operation.
The morale of story, wedding ceremonies VIPs 's children go wild with glamour and high altitude of reception. So does the cost and price to pay, which it could be done moderately. I do not see anything wrong on the spending spree if one can afford it. However, it implies that the behaviour and attitude on some of our leaders now is dotting the point of spending although the money was not paid by them. The Government behaves so now. The Opposition law makers, the political rivalry of all course to oppose it. More importantly, the RAKYAT, the silence majority see it. Be Moderate, my personal opinion to the leaders, and if possible, be it wedding reception, birthday or any occasion, show yourself a good image that you may want more people to follow up and then you will establish stronger support.
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