Wednesday, July 01, 2015

Could Grexit Affect Us?

A Kadir Jasin

UPDATE, July 1 – Congratulations to the Government of Malaysia for the Fitch upgrading of Malaysian Government debt from “negative” to “stable” and condolences to Malaysian consumers for having to pay 10 sen more for RON 95 and 20 sen more for RON 97. CNBC reported that Crude futures hit three-week lows on Monday.


EVEN during this “barakah” month of Ramadhan, we appear not to be blessed. The Muslim believes that Ramadhan is a blessed month.

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We are still grappling with old issues – the likes of 1MDB, the FGV, the PPFI, the SRCI, low commodity prices and the outflow of funds  – all of which have been dampening the economy and dragging down the ringgit.

And the pump price of RON 95 had just gone up another 10 sen to RM2.15 per litre and RON 97 up by 20 sen to RM2.55. Diesels unchanged at 2.05. This cannot be a blessing!

We all know about debt-ridden 1MDB, the decimation of FGV share prices and the attempt to use Tabung Haji to give a life line to 1MDB. By the way has Abdul Azeez Abdul Rahim being able to sell his TRX land at a profit as he had promised months ago? He then said buyers were lining up to buy.

More recently we are made aware of PPFI’s RM26.6 billion borrowing from EFP and SRCI’s RM4 billion borrowing from KWAP. Both are nursing their

The external factors are also acting against us. And as if these are not enough of these, Greece has to default on its external debts and, will most likely, exit the Euro.

What is Greece to us? Literally nothing. But believe it or not we are likely to be most badly affected among the Asian countries by its bankruptcy.

Greek lining up to withdraw the Euro as their economy collapses
I am struck by a June 29 report in Barron’s Asia, an American-owned investment magazine and website, which says Malaysia is likely to be the most affected by the Greek event. It quoted Nomura Securities.

Why is it so?

Because, besides Hong Kong and Singapore, Malaysia has the largest exposure to European bank claims. This could happen if European banks cut back their Asian debt holdings to repair their balance sheets caused by Greek exit (Grexit) from the Euro Zone.

The Barron’s report says, as of the end of last year, European banks’ debt claims in Malaysia, is equivalent to 17.7% of our GDP. The runner-up is Korea with only 8.7% of its GDP.

In addition, the report says, money has been leaving Malaysia this year even without the Grexit. Malaysia’s financing gap, defined as current account minus portfolio outflows (in equity and bond) runs a good 4.1% of its foreign exchange reserve.

The report notes: “Greece, a small economy that is less than 2% of Euro area’s GDP, can’t possibly be a major trading partner for Asian markets. But it could affect Asia disproportionately if European banks cut back their debt holdings in Asia to repair their balance sheets from the Grexit.”

Indonesia will be vulnerable too. Indonesia’s financing gap is at 3.9% of its GDP. By comparison, India is a lot safer. Its foreign exchange reserve is three times the size of Indonesia’s and its financing gap is at only 2.9%, according to Nomura.

On the same day, the ringgit fell to a 10-year low in intra-day trading due to worsening situation in Greece and as investors weighed whether Fitch Ratings would downgrade Malaysia.

The stock exchanges reacted similarly. On June 29, the FTSE Bursa Malaysia KL Index fell 0.4% and the Indonesia JSX Index dipped 0.8%. Month-to-date, the iShares MSCI Malaysia ETF fell 4.8%, the iShares MSCI Indonesia ETF dropped 7.8%.

So while the arrest of the former PetroSaudi International (PSI) executive, Xavier Andre Justo (XAJ) by the Thai police might have caused elation among the Umno elite, it does nothing to shore up the confidence in our economy. Some say it’s a put on – a ruse to throw us off the 1MDB track.



Zed-85 said...

Sallam Dato’

According to one of the government minister, the fall of ringgit is due to Tun Mahathir.

The 1MDB issue is now pinned to this Justo guy.

It seems that we have a line up of scapegoats for almost every problem that come up.

In order to solve the economic woes, the same minister suggested with pictures how to cook like Jamie Oliver with GST free ingredients. This is followed by another cabinet minister that suggested Malaysian should plant vegetables at home, although only few Malaysian now living in Cameron Highland.

I think most of people nowadays will be able to tell if they are being fooled. Those who participate in the social media overwhelming inclined to one side.

It is those who are living in the rural heartland that have limited grasp of how things work are the ones that are vulnerable of being fooled.

Zack said...

Sorry to disappoint you Latuk but Fitch maintains Malaysia's rating A- and upgrade the country's outlook to stable from negative. And ringgit is strengthening as I type now.

zainal abidin awang kechik said...

Sudah menjadi kepastian tok.. jika Euro Bank pun terkena bahang

Moga Allah Selamatkan Malaysia


Abdullah Ngah said...

Sesetengah mengatakan petronas perolehannya sosot sebanyak RM 20 bilion, maka harga minyak kena naik miskipun harga minyak dunia tak naik. pada saya semua ini tanda aras yang malaysia akan muflis tidak lama lagi

MOKHTAR said...

Salam Dato,

Greece will be another black sheep to be sacrificed for Panglima Bugis if Malaysia economy goes hay-wire...
Minyak naik 10sen (ron 95 )' Rakyat DiUtamaKan 'all costs of living up are for the Rakyat..Mereka tetap di Utamakan...Mereka adalah bodoh..Boleh dijual beli dengan janji2 dan Wang Ringgit..

Samad said...

Salam Dato. What's your comment on the latest A- rating from Fitch?
In contrast Greece was downgraded to CC.
That's a huge different.

Anon said...


IT.Scheiss said...

However, on June 30, the same Barron's Asia writer Shuli Ren wrote.

"June 30, 2015, 11:26 P.M. ET

Fitch: Malaysia Can Absorb Grexit Sell-Off
By Shuli Ren

Fitch Ratings affirmed Malaysia‘s sovereign ratings and revised its outlook from negative to stable.

The market had been worried that Fitch would issue a downgrade instead. Fitch had suggested in March that Malaysia was “more than 50 per cent likely” to be downgraded.

The FTSE Bursa Malaysia KL Index rose 0.9%.

Earlier this week, Wall Street analysts raised concerns that Malaysia was singularly vulnerable to a Grexit, because of large foreign, especially European, ownership in local currency debt. See my blog “UPDATE In Asia, Malaysia And Indonesia Are Most Vulnerable To Grexit“.

According to Fitch, Malaysia’s local capital markets are deep enough to absorb selling from foreigners. “”While the share of non-resident holdings of government securities is high and a weakness in the sovereign’s debt profile, local agencies such as Employee Provident Fund (EPF) can provide funding to support to the sovereign in the event of a sell-off by non-residents,” wrote Fitch.

Improving government finances was the key factor that prompted the upgrade. Government deficit fell from 4.6% of GDP in 2013 to 3.8% of GDP in 2014 and is expected to fall further this year, even though oil prices are set to drop and Malaysia is a net oil exporter. “Progress on the Goods and Services Tax and fuel subsidy” helped, said Fitch."

She also adedd the following updates to her 29th June blog.

UPDATE: I found a good chart that showcases why Malaysia and Indonesia are vulnerable and India is OK. Foreign ownership in local currency bonds is much higher in the pair. Check out this Tweet.

UPDATE 2: (July 1). Fitch Ratings unexpectedly upgraded Malaysia’s outlook from negative to stable. The ratings agency addressed Wall Street analysts’ concern that Malaysia has too much exposure to foreign debt ownership by saying that Malaysia’s domestic market is deep enough to absorb the Grexit-induced sell-off. The outlook upgrade is mostly due to improving government finances. For details, see my latest blog “Fitch: Malaysia Can Absorb Grexit Sell-Off“."

aku said...

Salaam Kadiag. Memang macam hang kata, ekonomi Malaya terdedah sakan. Yg buat parah sangat, selain dari hutang bergunung, dan rezab dok surut cara mendadak, selama berdekad dekad Bank Negara macam buat do no. Nak harap menteri2, baik tak payah. Idrih Serawak tu macam dok donia lain...
Pasai MARA, hang tak sentuh pulak. Lain kali kot...tapi MARA ni, aku nak bagi tau, memang lubuk duit untuk pencuri dan penyamun dan anak beranak depa. Selain dari flet2 depa beli di Setolia, ni ada pulak kontrek cawangan UITM di serata Malaya depa bahagi sama2 member.
Dlm pada tu, jenuh depa dok tibai semau maunya rakyat... hang tengok saja harga petrol, Jun 2014, harga satu tong dolar amerika sekitak 130, setahun kumudian, sekitak 65 dolar. Tapi rakyat dok bayak lebih lani, banding tahun lepaih...! Baru2 ni anak Razak Hussein tu pulak tergamak bekukuk kata sistem kesihatan ka apa ka kat Malaya, antara terbayek di donia. Depa besa tengok ka, macam mana pesakit luag kena layan ..? Sekali tu aku pi komplen kak kerani kaunta, kata kerusi untok menunggu tercabut skru, terbalik dan dok halang orang yg lalu disitu, kerani tu lebih korang jawab, pelak letrik kat meja dia pon dah enam bulan tak bulih pakai. Tu dia.
Sebelumnya, anak Razak tu pi kata, syarikat 1MDB yg dia jadi bos, yg bayak untuk buat balik masjid Kg Baru.
Akiag sekali, mintak mangap no, kalau ada tersalah tulih. Wa sallam.

K-Dean said...

Nak tanya pendapat YBhg Datuk The Scribe:

Memandangkan masaalah nak seris hutang dan bond 1MDB 2015 nanti, apakah

i. 2016 Nilai ringgit RM4.0-4.5 : USD1 dalam pasaran China yang lembab?

ii. Apa betul untuk selamatkan 1MDB, KDN mesti jual 1.5juta permit kerja untuk Bangla? Atau dah kena korek telaga barulama ini untuk dana MT UMNO dan PRU14? Berapa fees satu permit? Kenapa kita bisu hal PATI, tok?

Greek pun hal kita kena getah...

ADUHAI said...

"Anonymous Zack said...
Sorry to disappoint you Latuk but Fitch maintains Malaysia's rating A- and upgrade the country's outlook to stable from negative. And ringgit is strengthening as I type now.

8:33 AM"

Zack, read the reasons why Fitch maintain that rating. The reasons given were;

(1) Implementation of GST, and
(2) Removals of fuel subsidy.

Please understand that those 2 reasons were nothing about Najib's achievment in good governance but with the sufferings of rakyat.

What we fear, with that, the present administration can further make new sovereign debt and we're welcome to the trillion debt club !

We are heading greecey way !

adion said...

how I wish that Pak Lah is still the PM of Malaysia.

Zed-85 said...

Sallam Dato'

According the report, the Fitch rating is such due to changes in financial policy in particular on GST and the removal of subsidy. The removal of subsidy will also reduce the annual deficit.

In addition to the reduction of funds in terms of subsidy to the people and others such as hospitalization, we also would expect the government to do something on the issues relating mismanagement of government funds such as the leakages, corruption as what had reported by PAC.

The removal of fuel subsidy resulted an upward trend of the fuel price, now at RM2.15, with the rate of change much higher then before. With this trend, it is very likely that the price of fuel will surpass RM3.00 by end of next year.

Will the people currently facing economic hardship bare the strain of higher cost of living?

The fitch rating may had given positive result for now but three years from now, there is another rating by the voters on how well the government run the country in the ballot box.

Joe Black said...


Whenever somebody says that we are facing impending street protests from the rakyat for the hardship they are now facing...I've always asserted that no such thing will happen unless the country goes bankrupt. The Malays are a bit like the Greeks..High Rural Population with complacent attitude and only start bitching when their banks go bust and unemployment rules the day.

So prepare for the worst as Najib and Crew are currently just flying by the seat of their pants.

Unknown said...

Aslkum Dakj.

Fitch naikan penararafan hutang msia drpd negatif kpd stabil.

Najib dan geng tentulah ketawa terbahak2 dan senyum sampai ketelinga. Maklum usaha beri keyakinan pd Fitch berhasil besar.

Komen saya:.

1 bila Fitch beri rating negatif 2013 lepas sibuk pembodek bertiori kata di kalangan tiga rating agensi, Fitch la yg terkecil. Bererti jangan diambil kisah sangatlah.

2. Fitch tak kata penarafan yg lebih baik itu berpunca drpd tindakan cemerlang Najib banteras rasuah dan salah guna kuasa.

Cuma mereka kata Najib betul dalam tindas rakyat melalui GST dan pembatalan subsidi minyak.

3. Baik Fitch, S&P dan Moodys. Mereka tu manusia biasa yg tak lepas drpd buat silap.

Buktinya selama berbelas2 tahun mereka silap beri penarafan terhadap hutang2 Greece?

Mereka tak malu ke bila lihat Greece jadi bangkrup.

Saya berharap akan ada kerajaan atau NGO yg mengheret lembaga pengarah rating agensi taraf dunia ni atas kecuaian atau salah rating terhadap Greece.

4. Dengan UBN dan Kak Mah tidak ada satu pun benda yg mustahil . Samalah dgn guna wang songlap IMDB buat masjid dan sponsor imam UMNO pergi mekah.

Dalam dunia korporat mungkin dgn sedikit pelincir atau imbuhan editor bisnis boleh keluar cerita2 yg baik terhadap mana2 syarikat yg nak terlingkup.

Yg bakal rugi besar adalah pelabur runcit yg mudah percaya pd lapuran mereka.

Apakah strategi yg sama tak boleh diguna oleh kerajaan Najib?

Belajarlah drpd komplain terhadap beberapa kes kegagalan kedua2 rating agensi Msia sendiri iaitu RAM dan MRAC

Inilah agensi penarafan yg dah beberapa kali diherdik oleh pemegang bon syarikat pengeluar yg terlingkup tak sampai 6 bulan selepas diberi laporan gemilang oleh RAM atau MRAC.

5. Saya hanya boleh percaya dgn penarafan Fitch ini jika ianya dibuktikan dgn perbuatan.

Contohnya hasil kerajaan meningkat. Hutang krrajaan menurun.

Gaji median rakyat meningkat sesuai dgn penarafan yg konon lebih baik.


Kpd DAKJ dan lain2 adalah terlalu awal dan tidak bertanggung jawap jika kita puji Najib berdasar komen Fitch kali ini.

Greece jadi begini bukan dalam sehari.

Tapi mereka menipu dan menutup penipuan mereka selama bertahun2.

Hairannya setakat ni tiada badan dunia yg kutuk kegagalan agensi spt Fitch.

Masaalahnya ramai org Melayu tak faham pun apa fungsi Fitch?

Yg diajar disekolah adalah haram dan berdosa jika lawan ketua atau kerajaan UBN.

Zack said...


Socialist economic system is not sustainable. By socialist I mean the state giving too much and too many subsidies to her people. These subsidies included charging low for petrol which Malaysia had been doing so for the past few decades.
You see, Europe is in trouble because of the kind socialist economy they employ to pacify their people.
So, we should shed the mentality of subsidy. We should pay the market price of oil. Furthermore, paying distorted price of oil will only distort the true capability of the nation to compete against other nations.
BTW Latuk, you did not mention the exchange rate factor in determining the price of oil. Did you forget or just don't really know?

wara said...

fitch or no fitch my rm10 can buy what now?

aku said...

Aduhai 8.25 tulih ada betuinya. Fitch, Standard & Poors dan syarikat penakrafan yg lain memang banyak terbalik kepentingan dgn rakyat biasa. Konon2 ekonomi Malaysia ni kukuh sebab kerajaan tarik balik sabsidi minyak dan paksakan GST keatas rakyat. Jarang depa ambik kira kepincangan uruih tadbir, risyuah, lambakkan PATI, pemborosan melampau dll yg mengcengkam pertumbuhan ekonomi dan kebajikan rakyat terbanyak. Mudah cakap, hampiak semua yg nyusahkan orang ramai akan menguntungkan kerajaan. Macam tu duduknya kalau percaya pada satu aliran teori ekonomi klasik. Rakyat yg terdesak atau merana terhimpit akan tingkatkan gantungan kepada BRIM dan sedikit gula2 yg akan ditabokkan. Wallahua'lam.

fed up said...

Zack kata,

"BTW Latuk, you did not mention the exchange rate factor in determining the price of oil. Did you forget or just don't really know?"

Sejak harga RON diapungkan, harga paling rendah minyak dunia adalah USD45/barrel. Sekarang harganya USD65/barrel. Bezanya 44.44%.

Sejak harga RON diapungkan, harga paling rendah RON 95 adalah RM1.90/liter. Sekarang harganya RM2.15/liter. Bezanya 25%.

Jangan seronok dulu......

Masa minyak jatuh dari USD95/barrel kepada USD45 tak berapa lama dahulu (beza 52.63%), ada harga RON 95 jatuh pada kadar yang sama?

Silalah guna logik exchange rate factor tu. Jangan lupa yang semua orang tahu yang nilai Ringgit dahulu lebih kukuh berbanding sekarang.

Sila ambil maklum, ini adalah speed-trap. Akan ada soalan menyusul selepas anda berikan pengiraan anda nanti.

"Socialist economic system is not sustainable"

Adakah Malaysia mengamalkan socialist economic system bila kos belajar kena bayar balik bila bekerja, kerajaan masuk berniaga hampir semua industri, pengamalan direct nego masih jadi amalan kerajaan etc.

Kalau nak di hujahkan subsidi, subsidi minyak sudah kena tarik manakala subsidi yang lain sudah banyak dikurangkan (kecuali subsidi IPP dan yang sekelas dengannya).

Kalau nak dihujahkan stok catuan makanan, kos tahunan mengimpot makanan negara sudah sebesar hutang 1MDB atau lebih besar lagi. Jika Malaysia negara pengamal socialist economic system, harga makanan kepada pengguna sepatutnya stabil tapi malangnya indeks harga makanan saban tahun meningkat.

Jadi bila saudara menyebut panjang lebar tentang socialist economic system, what are you talking about?

Zed-85 ada sebut,

"The 1MDB issue is now pinned to this Justo guy"

Perkara yang sama diperkatakan dalam artikel DAKJ yang sebelum ini. Boleh ke sesiapa tolong jelaskan macam mana kekotoran Justo yang bekerja di PSI itu boleh membersihkan nama 1MDB sedangkan Justo tidak bekerjapun dengan 1MDB.

Jika 1MDB turut ditipu Justo, siapakah di 1MDB yang begitu bodoh ditipu sewenang-wenangnya?

Marilah kita undi ikut calun dan bukan ikut parti.

Masih fedup

i-souqa said...

Zack, Greece subscribe to pure capitalism as you desired, still went BANKRUPT. The rakyat suffer.

Unknown said...

Aslkum Dakj.

Sdr zack.

Negara maju mana ada mata wang yg rendah.

Mata wang kuat bukan terjadi dgn sendiri.

Mesti diusahakan. Dan telah terbukti boleh dicapai oleh negara yg kerajaan mereka bersih , jujur dan amanah.

Kalau nilai ringgit kuat macam dollar Spore atau won Korea berbanding USD maka kelmarin tentulah harga minyak kita dah turun harga. Sebab harga minyak dunia dalam harga USD dah jatuh.

Ini bukan soal DAKJ lupa atau tak tahu. Ini soal oleh kerana kerajaan UBN dah bocorkan ekonomi negara berpuluh2 tahun lamanya itu sebab mata wang ringgit tak kuat2 walaupun ekonomi kita terus berkembang setiap tahun.

Ini adalah hakikat nasib rakyat yg dah lama tiada subsidi minyak tapi terpaksa pulak bayar subsidi tolong kerajaan keparat bayar duit hutang negara yg hilang tanpa berita.

Tak perlu pening2 kepala banding apel dgn oren.

Bagi rakyat Britain yg terkenal tiada subsidi minyak tapi mempunyai nilai mata wang pound rm5.9 bagi setiap satu pound.

Nah mari kita buat kira2. Dari segi ukuran kesejahteraan hidup antara rakyat Britain dgn rakyat Msia. Mana lebih sejahtera?

Cuba bandingkan . Apakah yg boleh seorang rakyat Britain beli disana dgn pendapatan £5000sebulan.

Dan apa yg seorang rakyat Msia beli di Msia dgn pendapatan rm5000 sebulan.

Bagi org yg bagai katak bawah tempurung mereka ingat bumi Msia dah hebat segala2nya.

Bagi anak sdr saya yg pernah menjadi doktor di UK, kalau boleh dia nak terus kerja disana sebab dia dengan mudah boleh hantar wang simpanan ke Msia antara rm12000ke rm15000 sebulan. Hospital di UK pun takla sesak dgn mangsa kemalangan motorsikal macam di Msia.

Di Msia kalau gaji rm5000 sebulan pun cuma pas pasan kata org Indon, inikan pulak siswazah yg cuma dpt gaji rm2000 sebulan.

Unknown said...

Aslkum Dakj.

Angka2 yg tidak di palsukan tak mungkin dapat menipu atau menyesatkan pembaca.

Dua bulan berturut2 nilai eksport Msia jatuh teruk.

Eksport bulan 4/2015 jatuh 8.8% berbanding dgn 4/2014.

Lebih teruk bila eksport bagi bulan 5/2015 jatuh 9.1% berbanding bulan sama 2014.

Hanya angka import yg merosot juga telah menghasilkan angka lebihan akaun semasa.

Bererti dalam bahasa mudah rezab BNM tak jatuh kerana eksport masih melebihi import walaupun kedua2nya menguncup.

Oleh kerana jumlah eksport dan import menjadi sebahgian drpd komponen GDP maka jika trend menurun ini berterusan hingga Dec 2015 maka besar kemungkinan GDP negara kita akan mengecil.

Jika ini benar2 terjadi maka apa akan terjadi dgn peratusan Debt to GDP?

Adakah peratusan ini akan melepasi kadar 55% yg dibenar oleh perlembagaan?

Kejatuhan GDP juga bererti banyak syarikat akan membuang atau tidak mengambil pekerja baru.

Kalau begitu apa ke jadahnya kerajaan nak banjirkan negara dgn 1.5 m Mat Bangla dalam masa tiga tahun!!!.

Apa dah jadi dgn pasukan penganalisa Fitch.

Dah senak kena tumbuk rusuk jugak?

Joe Black said...


Ada juga kebaikan sampingan apabila kerajaan menggembar gemburkan kejayaannya dalam mendapat pengiktirafan dari Rating Agency "Fitch" atas policy kerajaan dalam mengaut wang dari GST dan sebagainya. Sedikit sebanyak memberi pemahaman kepada rakyat bahawa Rating Agency sebenarnya cuma berminat pada "Numbers" yang dipakai guna sebagai asa pada pemberian "Rating" kepada sesebuah Negara. Ianya tidak mengambil kira atas cara serta kesan tindakan mengaut duit (dari rakyat) keatas rakyat sesebuah Negara.

Yang meruncingkan lagi "Permainan" Rating ini berlaku apabila Kerajaan yang di kaji olih Rating Agency tersebut Mengamal Taktik "Tidak Transparent" yang akhirnya akan menyebabkan Rating yang diberi berasa kepada maklumat yang kurang tepat.

Walau bagaimanapun "Rating", kebiasaannya cuma di beri untuk waktu yang pendek sahaja dan akan berubah jika keadaan ekonomi sesuatu negara itu berubah. Jadi Keghairahan Sorak yang diberi apabila bola masuk kedalam gol lawan bolih bertukar menjadi kesedihan apabila pemain yang kurang mahir memasukkan bola tersebut kedalam gol sendiri!

Unknown said...

Aslkum Dakj.

Sdr fed up.

Justo tak tipu IMDB.

Macam biasa yg kena tipu adalah Melayu. Yg menipu adalah Cina dan India.

Melayu khianat memang suka tolong IMDB kena tipu oleh Cina Jho low..

Justo nampak permainan Arab dan Jho low tipu Melayu IMDB berbillion dollar.

Masaalahnya nak tutup mulut Justo beliau nak mintak tambah lagi rm10jt. Sebab pendahuluan rm15jt tak berbaloi.

Mungkin ada justifikasi. Engkau org kebas berbillion takkan nak tutup mulut aku dgn rm15jt je.

yana said...

Salam Datuk AKJ.

Umum mengetahui bahawa species monyet adalah species haiwan yang mudah teruja dan bergumbira (monkeys the easily elated primates). Kegumbiraan yang belum tentu hujung pangkalnya, kapal pecah di tengah lautan.

Kita lihat sajalah nanti Datuk. Let the puzzles fit. Even if the Greek bankruptcy does not affect us directly, but don't believe me just watch (bak kata penyanyi Bruno Mars) Malaysia yang terus diterajui oleh 'democratically elected Najib Tun Razak' bakal menjadi Greece Asean yang pertama.

Terima kasih Datuk AKJ, selamat bersahur dan berpuasa, jangan lupa doa di bulan Ramadhan adalah doa paling makbul. Insha Allah.

About Me

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I was born in 1947 in Kedah. I came from a rice farming family. I have been a journalist since 1969. I am the Editor-in-Chief of magazine publishing company, Berita Publishing Sdn Bhd. I was Group Editor NST Sdn Bhd and Group Editor-in-Chief of NSTP Bhd between 1988 and 2000. I write fortnightly column “Other Thots” in the Malaysian Business magazine, Kunta Kinte Original in Berita Harian and A Kadir Jasin Bercerita in Dewan Masyarakat. Books: Biar Putih Tulang (1998), Other Thots – Opinions & Observations 1992-2001 (2001), The Wings of an Eagle (2003), Mencari Dugalia Huso (2006), Damned That Thots (2006), Blogger (2006), PRU 2008-Rakyat Sahut Cabaran (2008), Komedi & Tragedi-Latest in Contemporary Malaysian Politics (2009) and Membangun Bangsa dengan Pena (2009).