10 Reasons Must Call A Snap Election This Year – Part 2

Pin It

May 16 2011
Linked In

This is the second part of 10 Reasons Must Call A Snap Election This Year. The reasons why Najib should and must call a snap election this year continues. You can read the Part-1 here at 10 Reasons Must Call A Snap Election This Year – Part 1

6)   People Do Not Hate BN Government That Much Anymore 

Scream as you like but the fact remains the people or voters are not as united and obsessed with the idea of over-throwing BN government now as compared to during Badawi’s period. Thanks to Abdullah Badawi’s overwhelming incompetency, obviously Najib Razak is a much better prime minister. It was all about ABU (Asal Bukan UMNO or Anything But UMNO) 3 years ago and someone said even if you put a donkey as the candidate, it would get elected. That was how much people hated BN.

Najib Razak takes over from Abdullah Badawi

Now that factor has been taken out of equation, there’s no reason for ABU. But Najib cannot hide for long the fact that the country’s economic has not recover to the pre-1997 Asia Crisis and most probably won’t; while foreign investors are still shying away from Malaysia. The country’s deficit is getting worse and the Central Bank has to hike interest rate many times to attract hot money. Najib’s administration is under tremendous pressure to tax from the people either directly or indirectly to refill nation’s coffer.

There’re reasons why people took to the street after previous premier Abdullah Badawi hiked petrol price but didn’t bother a bit even after Najib raised petrol price higher than what Badawi did. It’s a matter of time before Najib administration will raise the price of petrol, sugar, electricity, water, flour and whatnot. Najib has no choice but to call a snap election this year as he needs to execute many unpopular plans soon.

7)   PKFZ Scandal      

The infamous mother of all scandal, RM12 billion PKFZ scandal, will be used to tell the naive voters that Najib administration was serious about combating corruption. The judiciary system was so kangaroo that even former Transport Minister Ling Liong Sik who was charged with cheating the Malaysian government got irritated that the trial was postponed again to Aug 1, despite the fact that he was charged since Jul 29 last year. If you need 1-year to declassify just some minutes of cabinet meetings, you’re smelling rats miles away.

PKFZ Scandal How the Cost SkyRocket

Interestingly Ling’s successor, Chan Kong Choy who is also charged with the cheating in the PKFZ scandal has his case postponed to Sept 20. Hence there could be a possibility that Najib may call for a snap election this year, just after this corruption case is being mentioned. Of course everybody on the street knows both the former cabinet members would walk free ultimately. For now, Najib need to put all these bullets together before releasing them to please the voters.

8)   Lucky number 11

Numerology is usually not taken seriously especially by Muslims but somehow prime ministers in Malaysia are super obsessed with numbers. If former premier Abdullah Badawi’s lucky number was 13, PM Najib Razak’s favourite and lucky number is 11. Najib was appointed deputy prime minister on Jan 6, 2004 (1-6-04); 1 + 6 + 4 = 11. Najib takes over as the sixth prime minister in 2009 hence the 2 + 9 = 11. His house in Jalan Langgak Duta, off Taman Duta is also No. 11.

Najib Razak Lucky Number 11-11-11

Interestingly his late father, former PM Abdul Razak Hussein, was born on March 11, 1922 while his mother Tun Rahah Mohd Noah was born on June 11, 1933. Najib also has a son who was born on May 11. Najib is a member the Pahang royal household ad was appointed the 11th Orang Kaya Indera Shahbandar (rich man indeed). Najib has just celebrated UMNO’s 65th anniversary on 11-May-2011, although this is more like a UMNO Baru than the original UMNO.

The prime minister who was also the 11th Chief Minister of Pahang has his official government car, coincidently or deliberately, carries plate number WHT 11. You may show both your middle fingers to signify the number 11 but if the prime minister was serious when he hinted during a radio show recently that the general election would be held on November 11, 2011 because of the special place of the number ‘11’ in his life, the opposition had better get prepared. Most probably Najib would present a too good to be true Budget 2012 this Oct and thereafter call a snap election

9)   GST (Goods and Services Tax) Implementation

The government has been drumming the idea of GST for quite some years and based on the latest hints from deputy Finance Minister, the country would eventually push for its implementation next year, 2012. The rush for GST is quite obvious – the government would collect more tax money as the new tax would be broad-based and covers almost everything without discriminating the rich and poor.

Unpopular GST Malaysia

It would be a suicidal mission to implement GST now as the current high inflation and forever escalating high cost of living are already making average Joes grumbling. As much as the government tries to clarify that people will actually pay less tax with 4% GST, not many people buy the idea simply because in Malaysia whenever prices have been hiked, it won’t come down no matter what. Hence it’s hard to guarantee that people will actually pay less. Furthermore there’s no guarantee that the 4% will not be increased later on.

The fact that deputy Finance Minister dangles the carrot of  reducing corporate and individual taxes in the Budget 2012 to be tabled in October once the GST takes place shows the government is desperate and will most likely introduce it next year. The snap election has to be this year otherwise the government’s deficit would widen further.

10)   Global Economic May Turn Bearish

While the U.S. stock market is stabilising, the world’s largest economic powerhouse is still struggling with its high unemployment. Ever since the sub-prime crisis exploded in 2008, there’s still no light at the end of the tunnel on when the economy will recover genuinely. While it’s true the recession is water under the bridge now, the economy doesn’t grows as expected either. The debts crisis in Europe doesn’t help the global economy either.

Global Bearish Economy 2012

The so-called foreign investment into Malaysia is more related to short-term hot money due to high interest rate rather than genuine long-term foreign direct investment. As I’ve said, as long as the Central Bank is willing to jack-up the interest rates, foreigners would be rushing their money into the country. But as fast as these money came into the local stock market, the same pace in money out-flow would happen as well.

The risk of global economy turning bearish in 2012 and beyond may be too hot for Najib to handle if he does not take advantage of the current relatively good economy now. It’s either now or never. Having said that, Najib is facing with a serious internal problem within UMNO. If his speech during the UMNO’s 65th anniversary is any indicator, it seems warlords and factions are fighting to be on Najib’s menu for the 13th general election. If they’re not selected, they may sabotage the UMNO and Najib may have to hand over his throne not because of opposition parties but rather his own party.

Other Articles That May Interest You …

Pin It

FinanceTwitter SignOff
If you enjoyed this post, what shall you do next? Consider:

Like FinanceTwitter Tweet FinanceTwitter Subscribe Newsletter   Leave Comment Share With Others


[…] To Be Continued … 10 Reasons Must Call A Snap Election This Year – Part 2 […]

[…] 10 Reasons Must Call A Snap Election This Year – Part 2 […]

[…] 10 Reasons Must Call A Snap Election This Year – Part 2 […]

Leave a Reply


(required)(will not be published)