MBSB – Pre-Independent Money Builder

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Nov 07 2006
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Malaysia FlagMalaysia Building Society Berhad ( MBSB : stockcode 1171) has triggered FinanceTwitter and MACD “Buy” signal today with ratio of 71 Bulls : zero Bears. Volume has been building since 2 days ago. However the Relative Strength has already reached 70. The resistance is at RM 0.88 with highest recorded on 10-Jan-2005 at RM 0.885.

Hence it would be advisable to wait for it to consolidate to the support of RM 0.74 before investing in stages. Should it decide to push beyond RM 0.885 then it could signal the full bull is in charge.

MBSB FundamentalThe origin of Malaysia Building Society Berhad (MBSB) can be traced to the Federal and Colonial Building Society Limited incorporated in Singapore in 1950. It was established on the same solid principles that still stand firm today.

MBSB was locally incorporated in Malaysia under the Companies Act, 1965 on 17 March 1970. By way of a Scheme of Arrangement, the business undertakings and operations of MBBS in Malaysia were transferred to MBSB effective 1 March 1972. Following this Scheme of Arrangement, MBBS remains a wholly owned subsidiary company of MBSB. MBSB was listed on the Kuala Lumpur Stock Exchange on 14 March 1972. The majority shareholders of MBSB are the Employees Provident Fund Board (EPF) and Permodalan Nasional Berhad (PNB), which hold 63.02% and 11.10% of shares respectively.

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Malaysia is not a place to invest your money.

The policies are so loop-sided that you cannot chose the best people to work for you but to employ those malay graduates who are way below “standard”.

In the first place, these malays are not of intellect quality but the foreign and local companies are forced to employ them.

So, if a foreign company has a choice, they will not invest in a country like that where competition is solely based on skin color, and “know who” not “know how”.

Malaysia now lags behind both China’s and India’s science and technology sectors, and regional rivals Singapore and Thailand now attract more foreign direct investments.

Why is it so that we lag behind all those countries? Just study who are the planners in the countries education system.

Here we have third class educationists in the form of Umno-malays, most of them are third graders in their school days, planning the education policies. They are actually failures academically and now trying to teach others about education.

Then look around the schools and universities. Just a cursory glance will tell you that the teaching staffs are not of first class materials. Many are byproducts of unemployed graduates who managed to get teaching as their only choice of vocation.

Similarly the universities teaching staffs are third rated too. When you have such lousy teachers, would you expect first class materials?

Whatever Malaysia is advocating, Malaysia is heading to doom! Agriculture, commerce, education, health, politics, social interaction, everything that Malaysia embarks is doomed.

The information and communication technology that Malaysia implementing is as good as doomed since day one when the corrupted and racist Mahathir laid hand on it.

Anything that is the genesis of this corrupted and racist Mahathir is doomed, be it Agusta, Daya Bumi, education – English to malay malay to English, EPF, Felcra, Felda, Formula 1, general election, MAS, math and science in English, military defense, MSC, National Service, NEP, North South Highway, Perwaja, polis task force, Proton, Wawasan Schools……….the list is endless. Nothing works in Malaysia.

Now the religious Badawi is implementing 9MP using Islam with the doctrine advocated by the corrupted and racist Mahathir.

This is more severe than the doctrine by Mahathir since Badawi adds another critical and negative dimension into the corrupted and racist doctrine, that is, the aberrant Islam!

This further decreases the efficiency in the utilization of good human engineering practices in a highly competitive global world!

The only way Malaysia can succeed is to embrace good human engineering practices compassionately, since only good human engineering practices can attain excellent, efficient and effective production in order to compete with other formidable ICT nations.

This means the practices of meritocracy, no NEP and racial discrimination!

With a corrupted and racist government practice corrupt and racial discriminatory engineering practices, the effective job activities and efficiency in productions are definitely to be lagging.

This means high production costs, inefficient manufacturing processes, poor research and development designs, with expensive and inferior products! Example – Proton!

The government might as well close down Cyberjaya, encourage goat rearing and save costs. At least the loss in capital is not as severe as in ICT ventures and by the year 2020, every people is guaranteed with a roast lamb!

The biggest joke is, the people themselves are to be blamed for supporting the current and always has been and probably forever will be, the BN.

That is keep it up and make them more and more arrogant.

We want to be hubs of everything and master of none. That is why we know for sure Vision 2020 will not be achieved. It is easy to set a vision and really another to achieve it.

Principally as a small nation with limited human resources, not making optimum use of its human resource by sidelining a major more advanced sector of its population through the NEP, will create many many more “Tak Boleh”.

With people only interested in sitting beside a money machine, where Malaysia will end with, is already a certainty.

Any cure? No, no way. The entire makeup of the Malaysia society from corruption, greed, politics and third world mentality etc, will doom any effort to rectify it. We can’t even talk simple things like “understanding each other” let alone major issues like corruption, etc.

Even God has got no solution for Malaysia the way it is going.

The BN-led government has been providing crutches to so many crippling GLCs for the past 20 odd years: Renong, Proton, PLUS, Perwaja (which is total failure), MAS……….and perhaps many more (I do not have so many inside scoops), what next?

So do we need these GLCs for Malaysia economy? Yes and no.

-Yes, because if we want to stay afloat and let everyone has access to quality of life, then get those GLCs running, get the projects going, so employment can be managed and probably social problems such as poverties, drugs, crimes, can be contained. BN will wins election in election out, as long the people are happy.

That perhaps you would like to say, is the “sorry state” of our Malaysian voters. That is why BN wins election in election out.

-No, because if this situation continues where we sit safely in our comfort zone, we will eventually lose out in many aspects, to many at-present-not-yet as developed as Malaysia countries.

The people must unite and sit out these short economic pains, if really those GLCs is in irrevocably bad shape and need to be close down. As in a Chinese saying, “Short term pain is better than long term pain.”

I would add lastly that the “sins” of the ruling government are aplenty: transparency and accountability (the lack of them), lack of political will (this administration) or too much of it (the last administration), corruption and blatant cronyism.

Proton, MAS and most of our GLCs are all the same: totally no accountability, seriously lacking focus, plenty of abuses of power, most of its executives and bosess absolutely have no competence in running a company, greedy, doing things beyond their means, badly corrupted, etc.

I am extremely sad the tax money I paid to government every month is being spent in such manners. Why should we pay the taxes at all if our money is not put into good use? Where is the justice?

If Malaysians can be 50% as smart and clean as how the Singaporeans run their country, Malaysia will be a heaven for its people!

The only reason Proton or other GLCs with huge losses could carry on business is because of the financial support from the government.

Taxpayers monies are wasted on one bad investment after another. The government is totally irresponsible by scarifying interest of future generations. Someone has to pay the debts, if not this generation, it will be the next.

Malaysia was seeking to jointly build with Singapore a full bridge across the strait, but maintained that if Singapore did not agree, it would build a curved half bridge on its side of the water and demolish its half of the causeway.

Singapore is laughing at the Malaysians but in press conference they keep saying, very surprising! Why, what, how? Where is the accountability? Someone’s head has got to roll for this.

As again it shows that Singapore government plan with first class brains. We Malaysia government plan with otaks udang.

Singapore is not afraid of Umno and whatever, they just afraid when it is time PAS rules Malaysia. Umno leaders are like chickens

First, the project was put on hold. Then it was revived. Then it was negotiated. Then it was a half-bridge with a twist. Then it was “our right to build within our side”. Then construction started. And finally, the entire project was cancelled and somewhere in between, RM100 million was lost.

If you look into the matter sensibly, it is not PakLah fault. It is the Mahathir that caused all this embarrassment with help from Najib. How can you start something like this without the agreement of your counterpart in the first place!

Nevertheless we did start it and then finally realised that if the other side did not cooperate, we will indeed have a bridge that lead to nowhere and be the laughing stock of the world. That is why Pak Lah made a sensible decision to stop this nonsense.

This is a clear case of trying to muscle our way through. Well, this what Mahathir been doing for the last 22 years as our prime minister. We can now thank him for the losses and probably a white elephant complex too.

As previous said it is the end of a silly saga created by the big spender Mahathir who thought up this to enrich the Umno-members construction companies, as Malaysia had to foot its own side of the new link. How can you start a bridge when the other side does not agree!

The real reason is that the crooked bridge can never bee joined to the causeway unilaterally. It is against the international laws as has been indicated by Singapore.

That is why Singapore is playing cool. But here our clowns are shouting that we could. This is just face saving.

Yes, it is right to cut our losses rather than incur a bigger mistake if the bridge were to go on. But this blunder cost us RM100 million. Not RM1 million but RM100 million. And everyone is going to get away scot-free. No one is going to pay except us taxpayers.

A blunder of unbearable proportion. If these so-called leaders have any dignity left, they would step down. The whole lot of them.

This is from the Malaysia man who brought you these, not in order of magnitude:

1. World class airline – MAS
2. World class bank – Bank Islam
3. World class capital – Putrajaya
4. World class car – Proton
5. World class dam – Bakun
6. World class democracy – Umno
7. World class exchange – KLSE
8. World class ICT – Multimedia Super Corridor
9. World class law – ISA
10. World class parliament – August House
11. World class polis – Bukit Aman
12. World class steel – Perwaja
13. World class trader – Bank Negara
14. World class transit – Putra and Star
15. World class transparency – EPF

Let us support this man in order to further his cause in creating some world class intelligence and memory challenged followers. We may even be the hub of world class! Boleh!

If you ever had the chance to run this country, the first thing you must do is to remove, not the deadwoods, but the termites from all the GLCs (government link companies) who are eating away the nation’s wealth.

You have to be a pest controller of the highest order then only the nation can survived. At the rate the termites are chewing away, it will not be long before the whole roof caves in, and by then it will be too late even if one needs to do damage control.

How can the country ever progresses the outcome and income do not correlate.

I am glad that as a non-malay, I had the opportunity to turn around a state GLC some years ago when two other managers before me failed. At least here the state was sensible enough to know what was wrong and to take the appropriate remedial actions.

The second thing, you need to do is to trim away the number of holidays we have. It is far too many and it has reached ridiculous proportion. The citizens should be working 7 days (yes 7 days) a week not 5 or 6?

How can a nation ever grow and prosper when the workers are always looking forward to the next holiday which is just around the corner. Commerce and trade will definitely be affected.

Thirdly, there must be open tenders and purchase orders to be duly screened by a panel whose integrity must be beyond reproached.

When a company is in a financial crisis, such items should not even be listed at the bottom of the priority list. They should not appear all together and whoever brought it up, should be shot.

I have a friend who works in MAS as an aircraft engineer, almost everyday he will come back 8 am in the morning and go back to work in the afternoon. He told me that there is hell a lot of money to be made from overtime. It starts at 5 pm and ended at 8 am the next morning.

According to him, they only work until midnight and the rest will be sleeping hour. I ask him how he can do that! He answered me everyone in MAS did that. The foreman did that as well.

It takes many years of bad management to come to this stage. It will take many years to turn it around, if they are successful. This is what happened when there is gross lack of accountability, responsibility and transparency!

Malaysia is like a sick patient given lots of antibiotics for flu. Antibiotics only open up the patient for more sickness. Short-term solution to a long-term problem administered indiscriminately will only make the patient sicker.

If we do not vote BN out, only God can save our country from these government termites!

Malaysia for sure is better than Singapore as per below:

Better in making a fool of ourselves to the world – water talk, Proton car, crook bridge etc.

Better in illegal stuffs – pirated VCDs, DVDs, CDs etc.

We brag about Twin Towers – (serves as a white elephant) – tendency rate is so low – it is losing $$$$$.

Yes, nationalism and irrational pride have fooled most people in Malaysia.

Don’t fool ourselves – go check on the Internet and see what other countries perceive us……….

Petronas operations in exploiting the national treasure (oil and gas) are essentially run wholly by the highly paid experts.

My expert friend in Petronas told me that he does most of the work (analyze, study, writing recommendations and reports) and the local national managers take the credit. He has no quarrel with that as long as he got his good salary. (A typical Malaysian engineer earns RM5000 a month while he earns RM50000 a month.)

Petronas is producing 700000 barrels of oil per day (excluding natural gas). Assuming US$40 a barrel and a conversion rate of 1US$ = RM3.8 – the revenue per day is RM107100000 – I wonder where the money goes……….

Proton car in the eyes of the experts is an imitators and the quality does not come close to that of Toyota, Honda, Ford, etc.

The university is accepting unqualified students of a certain race and churn out graduates of useless academic degrees, the private sector is well aware of what these graduates skill sets and not hiring them.

If we don’t recognize our shortcomings and starts amending, we will always be stagnant……….

The only country in the world that has a weird ruling for car import is Malaysia.

Most countries are not as paranoid as our government is over their citizens importing cars. Instituting the Approved Permit (AP) scheme to protect Proton is really just a pretext; a red herring.

To ask international trade and industry minister to reveal the names of Approved Permit recipients is tantamount to asking her to come out from the closet.

For Dr Mahathir to ask the government to make public the names of AP recipients now, the skeletons under the bonnet must have gotten bigger after his retirement.

To protect the local car manufacturing industry, APs were introduced. However, if one were to import a car which is not locally assembled, he or she should be entitled to get one free AP.

The international trade and industry minister was reported to have said that more than 50000 units of vehicles were imported last year. If the price of an imported car sold were to include the RM30000 for an AP, the few privileged AP holders would have accumulated an extra profit of RM1.5 billion last year!

And this profit was made without any need to work for it!

Do we really need to nurture a system that creates instant millionaires without any effort at all required on their part?

The reality is to enable some people to print money. What is most astonishing is that those involved claim to be Muslim. Well, let them just explain to God later whether the money they made is ‘halal’ or not.

Politicians are supposed to be servants of the population. Unfortunately, most of our politicians only care for their own pockets and interests. Whatever means to squeeze the people are deployed wantonly upon hardworking Malaysians.

Cars in Malaysia are really too expensive beyond their real worth. The irresponsible politicians know that most Malaysian families are large and require big and reasonably powered vehicles.

Malaysia has very high on-the-road fatalities. Adding to our mad driving a Malaysian style, the only affordable motor vehicles for the masses are also inferior in safety features.

Our politicians have on their hands the blood of all those victims of road accidents who couldn’t afford better cars. This government really doesn’t care about the people. It knows very well that most people need vehicles to do their jobs, for recreation, etc.

And since the prices of cars are way too high, people have to resort to taking loans, thereby putting more unwarranted burden on the family budget.

I seriously urge the opposition parties to include the abolishment of the AP scheme in their next election manifestos.

The current AP system is bad. But in this case, consumers have paid a higher price without regard to their ethnic status. All who paid a higher price for their cars have been equally treated.

But house prices which differ according to the ethnicity of buyer is worse than the AP system. It is obvious that in the former case, those who pay a higher price actually subsidise the cheaper units. This demonstrates that Malaysians are not equally treated.

But consumption such as the purchasing of housing is not included for consideration under the NEP. This is especially so for housing units that can never be classified as for the poor or needy.

Thus difference in price according to the ethnicity of purchasers tells the world that not all Malaysians are equal, contrary to such a claim often said and repeated by the prime minister.

Regarding race-based house pricing, this benefit should be abolished as it creates distortions in the housing industry.

The private sector should not be involved anymore in such unfair practices where non-bumi house purchasers are made to subsidise the bumi house purchaser who may already be a millionaire many times over.

The accumulated excesses of the NEP can be seen in the plethora of problems we see in society today.

Unfortunately, I do not hate the MCA or Gerakan Chinese leaders and things like that, because I don’t have faith on them and since the beginning I don’t think they really speak what is from their heart, they speak what is good for themselves.

Our country is just a country full of racist people everywhere, and we always think we are multi-cultured country and people live happily ever after, but we forgot other country has more different races and cultures than us. But I think this is all about the Malaysia Boleh disease, we thought we are too good compare to other country.

I wonder this government now is building a nation, or building a malay kampung. Honestly, the most important thing is about our next generation, and so far all I see now, is the people biting each other just to get a piece of meat for themselves.

The biggest culprits for all these tension are the politicians, whether they are from Umno, MIC, MCA or others. Why should ordinary people like us be burden with all these excesses, which could be used to give us free medical treatments, cheaper petrol, electricity, better schools, etc.

Fighting among races will not enrich the poor, it is just create excuses for the “corrupted” politicians to “sodomise” and “rape” the country even more.

Thailand berubah kerajaan macam menukar seluar dalam, tetapi mereka lebih baik daripada kita.

Taiwan, Korea, Jepun malah India, bertukar kerajaan dan hasilnya mereka lebih baik daripada kita.

Indonesia berubah kerajaan dan hasilnya mereka lebih baik daripada kita sekarang walaupun peringkat permulaan agak susah.

I will vote any opposition party hopefully to get some changes for worst or better. And I urge my fellow wise Malaysians to do so. What some person said was right, we must change the government, then only there is hope.

Look at BN after 49 years, only the politicians and cronies benefited. So why are you afraid of changing the government, unless of course you are also part of them.

It is the politicians who raped us – the citizens. I would like to see big changes in our government, at least the one that I always dream of is a better education system. We are heading globalization already and I want my children to be well prepared for that too.

I felt so excited I just had to post up here for some comments. Now I know this is bound to provoke some controversy, but I can’t help – say the comment made sense 90%.

Nicely said, this article. I totally agree with it. Most Chinese are emigrating not because they could afford to, but because they no longer wish to live in oppressive and stifling conditions, thanks to our so-called bumi privileges.

This actually has been on my mind for quite some time, sadly. It is high time that malays wake up and take action to salvage this country before it is too late. It is great to see there are other malays who care.

Totally agree with the comment because my grandparents had also move to Singapore – they like it there – better than they like it here except for Genting Highland.

It is true there should be no discrimination in whatever things you want to do in your own country. Everybody is entitled to his opinion and everybody wants to be patriotic but things like these are really unfair. I think while the balance of economy is still not equality until when when when……….

Does that make it right? Is it right that Chinese children get better results than malay children, yet are denied tertiary education? Don’t the Chinese pay taxes too (even more so than the malays)?

And this is about racial sentiments. We say it is not because we are the ‘dominant’ race in the country, thus we have a deluded view on certain rights, malays enjoy more privileges than other races in Malaysia. This is fact, in accordance to the Federal Constitution.

I obtained my law degree not because I am a malay, but because I can. Much like someone, he obtained his education because he could, not because of his status as bumi.

What apparent about non-malays to me are their competitive drive and the sense of belonging in helping their own kind – regardless. Look at ours……….we will join forces anyone who bang our leader, family and community.

Some comment, although noble and thought provoking, is rather inaccurate: in the West, scholarships are not given to any person. In the West, students finance their own studies by working through the summer, among other things.

The emigration of Chinese out of the country does not indicate that they are rich. It indicates that they are well in managing their finances. And in the aftermath of the exodus of these brilliant minds, we are left with mediocrity and decadence that rely too much on their status as bumis.

What they care most are their families and themselves. Just count how many malays had already succumbed due to the meritocracy rules.

About the government being oppressive to the Chinese……….I guess they are not just being oppressive to the Chinese anymore – the Indians and the Malays also.

Sadly I am not interested to change all these craps. Those who made all these should be responsible for what they did to Malaysia. And it is more sad that it is our own people that did the damage. Our own Malaysians, Malays, Indians, Chinese.

Next time please don’t blame George Soros for causing damage. Blame it on us.

Dear friends, I have spent 10 years in Malaysia, I am a foreigner, an academic and I am going to be thrown out for University Malaya despites of excellent research activities. I understand your problems, I love Malaysia people, I care for UM and for Malaysia, three races not easy.

There are for the moment no solutions for your interracial problems. The boil will mature and explode a day. When no more cash from Petronas will support the delirium of the present deciders, it will be terrible, everything will be collapse, all will be finished. But after that you could perhaps rebuild a nation.

Meanwhile just have a drink and forget about what you see, let time do.

I speak to myself:

UM was once a good university. It has been a university up to the mid-1980s, after that it started to “sink”, now it has reached the bottom. In the 1960s and 1970s, you could see well groomed lecturers and pretty clerks with well ironed dress.

How sad, why should we care? We should care for the students who are the first victims, especially the foreigners……….we should care for all the good academics who, hopeless and destroyed by the “fill the form and eat noodles but never think” ideology, finally suicide, left ruined and depressed or were thrown out and replaced by spoiled losers.

They say they want to bring UM up – it is a joke. That is impossible unless you change public perception on “success”.

Too many black magic players and fat asses are running the show there, from top to bottom. If you have any expatriate friends who tell you I am going to join UM, never ever allow him to work there, if you care for him.

Fellows, the brain drain in Malaysia is a normal process because the brains are not wanted, they are thrown out like dirt. A very skilled person, an intellectual will fall into depression very fast on working in a Malaysia working place and worst, if he or she is an academic in public sector.

True, Singapore does well. This is because the leaders of Singapore have implemented a public service that works: reliable, polite, fast, accurate. Singapore has very good leaders who have understood Singapore must open to the world.

If the mindsets of the Umno-malays here actually reflect the general people then I am afraid there is no hope. Simply hopeless. Nothing much is going to change to the good.

In fact it will be towards the extreme. What can you expect? We are simply good in blaming others for our problems. In fact we are world class in doing that. With a mindset like that, by year 2020 we should be toward Zimbabwe or probably worst.

Thank you ‘Tun Mamak’ for all this. Because of your need to be more melayu and to remain prime minister, your 22 years of ruling had made the people to have such attitude and mentality.

Sorry folks, I am one of those who don’t believe Vision 2020 can be achieved, and not be a long shot.

Umno first consideration is not achieving Vision 2020 as what they are trying to tell us, but their paramount and top priority is to ensure that their ketuanan and NEP policies are intact in whatever goals they conceive.

This is where the stumbling block lies. Never mind if third grade graduates become lecturers or professors, so long their ketuanan and special rights policies are adhered to.

Even in business or industries enterprise, the business people have to satisfy Umno demands that these corporations/industries satisfy the NEP and special rights rules first.

So, is it that difficult to understand Vision 2020 has never been a top priority, but the ketuanan policies are, and these override all else, even if it means that Vision 2020 is not achieved.

‘First class mentality’ for Malaysians? When most of them are spoon-fed by the government and they behave like the baboons in the UPM cafeteria? Not in my lifetime! And I am still relatively young!

First class mentality starts in school. What chance does the young have when they are exposed to under qualified teachers? And a failed education system?

Whilst in Japan, I witness a scene where a homeless man, in filthy clothes and hair, rummaged through a few rubbish bins, spilling their contents onto the ground. When he finally found what he wanted, he actually put the rubbish back into the bins! I was shocked!

Back here in Malaysia, the educated and privileged don’t even bother to look for bins to throw their rubbish in! What kind of mentality is this, compared to the homeless man? It is a sad, sad world we live in, man……….

The NEP will be a huge stumbling block towards Vision 2020. When leaders of business and industry are not chosen on the basis of meritocracy but purely on the basis of being a malay, how la?

And it is only getting worse and worse as it has become a ‘right’. Can’t see it changing anytime in the next 13 years.

Malaysia leaders always lamented that ‘we have first class infrastructure but third class mentality’.

What they should actually say is that ‘we have first class infrastructure but third class leader’ – that is more like it.

They can’t even ensure that computer lab for schools do not collapse after few months completed. Need more examples? What are they able to do then? Don’t try to get the answer from this third class people.

All I can say is thank God or Tunku Abdul Rahman for giving away Singapore to Chinese rule! He was right otherwise Singapore will be in deep shit like us now!

As much as we don’t like Singapore that much – we must agree that the Chinese did a damn good job in running their tiny island!

The mega dictator started many mega projects and most of these projects became mega failures. We are left with mega problems to solve.

Man, may I ask – is dividing Malaysians into bumi and non-bumi not racist in itself? So it likes the pot calling the kettle black! Well whether you like it or not, we are living in a racist society now! Especially in Malaysia!

And plus, in case you are still in the dark – in Malaysia we practise racial politics! MCA for the Chinese, MIC for the Indians and Umno for the malays! So what is wrong if we are racist in our opinions? Isn’t everyone racist to same extend? Some more and some less!

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