Malaysian PM - Dr M's Impact On National Development

Malaysian PM - Dr M's Impact On National Development
Malaysian Mirror, December 21, 2011

KUALA LUMPUR -- The vision 2020, aimed at achieving the developed nation status for Malaysia by the year 2020, was among three aspects of Dr Mahathir Mohamad's leadership as prime minister that left a major impact on the country's development, said Najib Tun Razak.

The Prime Minister said the other two aspects were saving the country's economy during the world economic crisis in 1997 and building the people's confidence emotionally and psychologically that they were capable of achieving anything beyond expectation through the slogan 'Malaysia Boleh'.

"When Mahathir revealed the vision for Malaysia to turn into a developed nation, it had created a new passion for Malaysians, whereby we are now in the final stage of fulfilling the Vision 2020.

"To me, there is a most fitting way to remember the deeds of a national leader who had contributed immensely, that is, we have to fulfill all the visions that he had dreamed of," Najib said at the Gala Dinner "Tun Dr Mahathir: Famous Legacy" as well as the launch of the "Mahathir Distinguished Internship Program" (MDIP), here last night.

Also present were Dr Mahathir and his wife, Dr Siti Hasmah Mohamed Ali and the Prime Minister's wife, Rosmah Mansor.

The Prime Minister said the government had continued the efforts initiated by Dr Mahathir by implementing various programmes including the Economic Transformation Programme and the New Economic Model, which were all inspired by Dr Mahathir's vision in turning Malaysia into a developed nation by 2020.

Najib said, in fact Dr Mahathir was also the country's economic saviour when Malaysia was hit by the financial crisis as he had refused to allow Malaysia to be under the control of the International Monetary Fund (IMF).

"...And I support what Mahathir had said that he certainly would not hand over our country to be controlled by the IMF under whatever circumstances.

"On the other hand, if anyone wants to accuse him (Mahathir) of writing the letter (to IMF), I think it's all utter rubbish," he said.

Earlier, it was reported that Opposition Leader Anwar Ibrahim had claimed that Dr Mahathir had written a letter to the IMF.

Najib said emotionally and pychologically, Dr Mahathir had also given the people something they might not have had before in the Malaysia Boleh spirit, which was self-confidence that eventually inspired the country's development into what Malaysia was now.

"That, I believe, is among the major impacts of Mahathir's leadership, where he had rescued the country from an (economic) crisis , placing the nation on the right track towards achieving the goal of being a developed nation, and giving self-confidence to us as Malaysians," he said.

He added that to realise the vision 2020, the country needed the support and motivation from everyone particularly Mahathir.

"To realise the Vision 2020, we have to cross a bridge soon. We hope we will succeed in crossing the bridge with the support of Mahathir," he said.

Meanwhile, in his speech Dr Mahathir expressed his appreciation to everyone who had always supported his administration previously, and for praying for his well being as well as that of his family's.

The MDIP is a global interlectual research programme set up with the cooperation of the National Professors Council, Perdana Leadership Foundation and Institut Pemikiran Tun Mahathir to honour Mahathir's leadership and contributions to the nation's development and progress for the past 22 years.

The programme, which is open to candidates from abroad, enables them undergo six months of internship in Malaysia to carry out research and analysis on Mahathir's administrative style, success and leadership as Prime Minister.

The event was held in conjunction with Mahathir's 86th birthday yesterday.

(Bernama)

Dr M Again Denies Having Sought World Bank's Assistance

Dr M Again Denies Having Sought World Bank's Assistance
Malaysian Mirror, December 20, 2011

PUTRAJAYA -- Former prime minister Dr Mahathir Mohamad has again denied that he had sought financial aid from the World Bank during the 1997 financial crisis of thereafter.

Commenting on the disclosure by the Parti Keadilan Rakyat (PKR) today which showed three documents which allegedly proved that he had applied for the loan, Dr Mahathir said he had to see whether the documents were genuine or otherwise, and had to seek confirmation from the World Bank on the alleged documents.

"I want to see...I want to ask the World Bank whether this is true...Because nowadays even photos of human beings with someone else's body can be made.

"As far as I can remember, and I have not forgotten, I never sent any request for any money, not during the financial crisis or even after that. I had just criticised the World Bank, then I ask money from them for what? I would be stupid," he told reporters after a meeting with 26 participants of the reality programme, "Adik-Adikku", at the Perdana Leadership Foundation, here on Monday.

Dr Mahathir also questioned why such documents appeared all of a sudden, whereas Opposition Leader Anwar Ibrahim had said that he did not have the documents earlier.

"Why only today they appeared after so many years? It's due to politics, because of the general election, (they) want to criticise others," he said.

Anwar was earlier reported to have claimed that Dr Mahathir had written to the World Bank for financial aid during the financial crisis, when delivering a speech at a dinner to discuss the Economic Transformation Programme (ETP) which was also attended by representatives from the foreign missions.

Dr Mahathir in return challenged Anwar to swear on the al-Quran as proof to back the allegation.

(Bernama)

Former Malaysian PM Mahathir Mohamad slammed Europe Debt Plan

Former Malaysian PM Mahathir Mohamad slammed Europe Debt Plan
Tuesday, 13 December 2011 06:59

PUTRAJAYA -- Former Prime Minister Dr Mahathir Mohamad slammed Europe for initiating a bailout fund to help member economies struggling with their debt crisis, saying European countries should not live beyond their means.

He charged that Europe was getting a dose of its own medicine and said that there was no need for Malaysia to participate in the Europe bailout fund as they did little to help Malaysia during the 1997/98 Asian financial crisis.

He said it was the unscrupulous western hedge funds which attacked the Malaysian Ringgit and other Asian currencies, precipitating the financial meltdown from which regional economies took a long time to recover from.

And when Malaysia helped its companies recover from the crisis without going to the International Monetary Fund and thereby maintaining its financial independence, they criticised the government for adopting unorthodox policies to prevent a financial disaster.

"No, why should we? If I'm in the government, I wouldn't. I don't think Malaysia should contribute anything, you see they tried to bankrupt us before and they undermined our currency, he said when asked whether Malaysia should contribute to the bailout fund after European leaders agreed to tighter budget rules and an expanded bailout fund at the European Union Summit last week.

"Now, they are (being served) the same dose of medicine, so let them solve it. Actually, their wealth is not true wealth," the former prime minister, who was credited for saving Malaysia from a financial disaster, said in an interview with Bernama and Bloomberg on Monday.

Dr Mahathir said both the United States and Europe were the world's largest home appliances and car manufacturers but later focused on the financial industry after Eastern countries like China, Japan, South Korea and Taiwan started to produce similar products.

"The financial market is not a real business because it does not create jobs and there are no spinoffs. They make billions of dollars just by transferring numbers in the books of banks.

"When they start leveraging, eventually the whole system collapses due to gambling, speculations and manipulative activities. Now they are poor people, but they don't admit that and want to live in their own style.

"When their governments want to have an austerity programme, they protest against it through demonstrations, which make matters worse," Dr Mahathir said.

Many western economists asked the Malaysian government not to bail out companies, but asked the government to have a surplus budget and raise interest rates to curtail spending but the government decided not to follow them.

Contrary to calls for tighter spending, Malaysia adopted unorthodox measures by loosening spending and lowering interest rates to spur business activities which helped the country to gradually recover from the financial crisis.

The government also imposed capital controls including pegging the ringgit against the US dollar and banned ringgit trading outside the country in a bid to stop speculations against the Malaysian ringgit.

Speculative attacks saw the ringgit diving from RM2.42 against the US dollar in July 1997 to as low as RM5.20 about a year later, which led Dr Mahathir to peg the ringgit against the greenback to RM3.80 under the capital controls.

"We did go against them. Now they are doing all the things that we did, but on a bigger scale, with Germany bailing out Greece with US$300 billion.

"We only bailed out companies during the financial crisis in the range of RM200-RM300 million only," he said.

Asked on ways to solve Europe's problems, Dr Mahathir said they should not live beyond their means.

"If you are poor, you live like poor people, accept lower pay, the standard of living must be lower and don't enjoy life too much.

"But the problem is, now they want to live like they are rich," added Dr Mahathir, who was prime minister for 22 years.

(Bernama)

Former Malaysian PM Mahathir Mohamad slammed Europe Debt Plan

"I Back Najib, He Is A Better Man" - Dr M

Saturday, 03 December 2011 06:45

NEW DELHI -- Former prime minister Dr Mahathir Mohamad gave a terse political tip for Malaysian voters.

Crediting Najib Tun Razak for "correcting wrongs" in the political system, he said the prime minister should be given a chance to lead the country.

"He is gaining popularity, he is correcting wrongs did (committed) by my successor.

"I back Najib, he is a better man, he deserves to be given a chance," Dr Mahathir said at a media conference in Delhi on Friday.

The 86-year-old statesman is here to attend the annual Hindustan Times Leadership Summit where he presented a keynote address.

In his speech, he warned global leaders to note key changes taking place - failure of central planned economy, influence of social media and the speed of people crossing borders.

"These are radical changes happening in the 21st century. All these will impact whatever we do, political, economic, social or financial areas.

"If we are not willing to admit these changes, we will not be able to attend to these challenges," noted Dr Mahathir.

In his keynote address themed 'The Challenges of Changes in the 21st Century', he said democracy was not a bad system, but not a panacea for all political shortcomings.

"Democracy is the best form of government, it is not the easiest to govern because people do not understand the limitations of democracy," he added.

(Bernama)

"I Back Najib, He Is A Better Man" - Dr M