Going through the financial crisis: Malaysia rated as "most risky"
Malaysia is rated as "high risk" while Singapore is well-positioned to weather the economic slowdown because of its political and social stability, says Hong Kong-based Political & Economic Risk Consultancy.
Its analysts ranked Singapore as having the least political and social risks next year among 16 territories in Asia-Pacific, according to a summary of its 87-page report released to the media yesterday. Malaysia,Thailand and India were ranked as the most risky because of internal developments.
The unlikelihood of sudden political changes, stable labour relations and sound policies, including measures to help the poor, were among the factors in Singapore's favour, said Perc's managing director, RobertBroadfoot.
"Singapore's fiscal situation is strong enough for the fiscal incentives that are going to help the country get over the crisis and spread the pain of recession," he said. Politically, he noted, Singapore has no election coming up and the Government would stay in power.
In addition to crafting good policies to take Singapore through a recession, the Government's ability to implement them is a plus point. Social stability is also expected, he said, because Singapore has "no insurrection movements, the labour situation is stable and more harmonious than most countries, and you don't have religious fundamentalist movements."
The report also concluded that despite external shocks, Singapore and Hong Kong will emerge stronger in their credibility as regional and international business centres. Singapore's Government-backed institutions such as Temasek Holdings and the Government Investment Corporation (GIC) remain well-positioned to capitalise on opportunities that emerge in the region and globally in these times.
Broadfoot said: "GIC and Temasek have assets and are liquid. Their brands are still quite good: Temasek has an image of a stable company and will be viewed as a preferred partner." Hong Kong's ace in its pack is The Hongkong and Shanghai Banking Corporation (HSBC) coming through the crisis intact as one of the large remaining private banks in the world.
The report found that while Singapore, Hong Kong and Australia could be hurt the most by the crisis, they were the most stable politically and socially.
On a scale of zero for the least risky to 10 for the most, Singapore scored 2.76, followed by Australia (2.9) and Hong Kong (3.23). Most risky are India (6.87), Thailand (6.28) and Malaysia (6.07). They are vulnerablenot so much to the financial fallout but due to internal developments, the report added.
So, what is the Malaysia's ruling Barisan Nasional government actually doing? The fact that is most of its coalition parties are undergoing streams of changes and elections within. Look at Umno, MCA, MIC and Gerakan which either had or yet to have their party elections. While awaiting their elections to be due, intense politicking were seen almost everyday, everywhere and even at government offices (which was supposed to be neutral).
Most civil servants who were Umno members and leaders at the divisional and branch levels are seen actively politicking and campaigning to either retain their positions or to try to grab a higher one.
Since after the 8 March general election, Umno and its governing machinery had not yet demonstrate its maturity in defining between good governance and politics. They often mixed up both thinking that there are all same.
So, the suffering ones are the people. Todate, we have yet to hear any positive measures taken by the Barisan Nasional government to overcome the current financial crisis which is seen spreading towards our nation. Money politics in the ruling coalition's dominant party Umno is flowing actively like share market.
In the end, who will stand to loose all these, surely our people is losing out in terms of employment, sky-rocketing prices, increasing cost of living, businesses closing down and so on. Has the Barisan Nasional done anything or seek out some counter measures to help all these people? The greatest answer is a "No".
Umno leaders are getting richer and richer daily while our people down there are suffering from all the high cost of economy, furthermore crime rate had also shot up with murders, robberies and other criminal activities begining to increase their assault on our neighbourhood.
Our people are already frustrated with the current situation and drastic changes are needed in order to put the entire situation in order. Why is the Barisan Nasional still behaves so conservatively in their politics and administrations? Haven't they learn their lessons on 8 March?
Its analysts ranked Singapore as having the least political and social risks next year among 16 territories in Asia-Pacific, according to a summary of its 87-page report released to the media yesterday. Malaysia,Thailand and India were ranked as the most risky because of internal developments.
The unlikelihood of sudden political changes, stable labour relations and sound policies, including measures to help the poor, were among the factors in Singapore's favour, said Perc's managing director, RobertBroadfoot.
"Singapore's fiscal situation is strong enough for the fiscal incentives that are going to help the country get over the crisis and spread the pain of recession," he said. Politically, he noted, Singapore has no election coming up and the Government would stay in power.
In addition to crafting good policies to take Singapore through a recession, the Government's ability to implement them is a plus point. Social stability is also expected, he said, because Singapore has "no insurrection movements, the labour situation is stable and more harmonious than most countries, and you don't have religious fundamentalist movements."
The report also concluded that despite external shocks, Singapore and Hong Kong will emerge stronger in their credibility as regional and international business centres. Singapore's Government-backed institutions such as Temasek Holdings and the Government Investment Corporation (GIC) remain well-positioned to capitalise on opportunities that emerge in the region and globally in these times.
Broadfoot said: "GIC and Temasek have assets and are liquid. Their brands are still quite good: Temasek has an image of a stable company and will be viewed as a preferred partner." Hong Kong's ace in its pack is The Hongkong and Shanghai Banking Corporation (HSBC) coming through the crisis intact as one of the large remaining private banks in the world.
The report found that while Singapore, Hong Kong and Australia could be hurt the most by the crisis, they were the most stable politically and socially.
On a scale of zero for the least risky to 10 for the most, Singapore scored 2.76, followed by Australia (2.9) and Hong Kong (3.23). Most risky are India (6.87), Thailand (6.28) and Malaysia (6.07). They are vulnerablenot so much to the financial fallout but due to internal developments, the report added.
So, what is the Malaysia's ruling Barisan Nasional government actually doing? The fact that is most of its coalition parties are undergoing streams of changes and elections within. Look at Umno, MCA, MIC and Gerakan which either had or yet to have their party elections. While awaiting their elections to be due, intense politicking were seen almost everyday, everywhere and even at government offices (which was supposed to be neutral).
Most civil servants who were Umno members and leaders at the divisional and branch levels are seen actively politicking and campaigning to either retain their positions or to try to grab a higher one.
Since after the 8 March general election, Umno and its governing machinery had not yet demonstrate its maturity in defining between good governance and politics. They often mixed up both thinking that there are all same.
So, the suffering ones are the people. Todate, we have yet to hear any positive measures taken by the Barisan Nasional government to overcome the current financial crisis which is seen spreading towards our nation. Money politics in the ruling coalition's dominant party Umno is flowing actively like share market.
In the end, who will stand to loose all these, surely our people is losing out in terms of employment, sky-rocketing prices, increasing cost of living, businesses closing down and so on. Has the Barisan Nasional done anything or seek out some counter measures to help all these people? The greatest answer is a "No".
Umno leaders are getting richer and richer daily while our people down there are suffering from all the high cost of economy, furthermore crime rate had also shot up with murders, robberies and other criminal activities begining to increase their assault on our neighbourhood.
Our people are already frustrated with the current situation and drastic changes are needed in order to put the entire situation in order. Why is the Barisan Nasional still behaves so conservatively in their politics and administrations? Haven't they learn their lessons on 8 March?
