The constant politicking and power struggles within Malaysia are in a way, one of the major contributing causes to the weakening Malaysian Ringgit. Despite Anwar Ibrahim’s rise to become the current and 10th Malaysian Prime Minister, the brief strengthening of the Ringgit has been just sort of a glimpse at how the changing of the leadership at Putrajaya could improve our country’s economic situation.
Just look at the latest political upheaval taking place in Sabah. No prizes for guessing who the troublemakers are, causing the political turmoil there right now!
Malaysia’s reputation as one of Asia’s growing nations was sullied by Najib Razak’s 1MDB corruption scandal and even though he has now been imprisoned for 12 years after being found guilty on one of the charges, the damage to the country has already wreaked havoc with our currency’s standing against the major currencies such as the US and Singapore Dollars. The Malaysian Ringgit is now at its weakest status as political unrest here continues due to the ceaseless power grabbing going on, the latest, over at Sabah, East Malaysia.
Political instability is a major factor as to why the once strong Malaysian Ringgit slipped and slide its way down against those currencies. Why is the Singapore Dollar so strong and continuously growing in strength against most other currencies? Their political stability and disciplined government policies and high integrity plays a noticeably big part of their economic success.
Compare Singapore’s achievements and that of Malaysia and you’ll find that even though the island republic has no natural resources to speak of their first world class system of governance, has assured foreign investors and major corporations to choose Singapore over us, in setting up or relocating their businesses south of our border. The late Singapore’s Founding Prime Minister, Lee Kuan Yew’s firm and strong leadership changed Singapore from what it once was into the first world country, it now is! He was the catalyst behind Singapore’s rise to success!
We just need to look at how Singapore’s transformation over the years brought about the results that the entire world is witnessing today. A major contributing factor is the lofty standards and decorum that most of Singapore’s political parties maintain and put to practice even when debating in the Singapore Parliament.
A straight talker like Harry Lee Kuan Yew is what Malaysia needs today! He walked his talk and was an ass kicker! He meant what he said and tolerated no funny business from anyone!
Every Member of Parliament in Singapore is highly educated, knows how to raise any matter, worthy of being tabled in Parliament and conduct themselves in a manner befitting their status as either representing the ruling government or opposition, full of integrity and standard of professionalism. It is rare to see any Singapore Parliamentarian to go crazy in Parliament and turn the sessions into a circus act as prone here in the Malaysian Parliament.
Now, compare the above videos with that of the Singapore Parliamentarians below. These are also debates between the ruling Singapore Government leaders and the Singapore Opposition. Witness the stark differences between the unruly Malaysian MP’s and their Singapore counterparts.
You can easily sense the different standards of highly educated and principled professionals and those who are akin to uncouth roadside hooligans!
The Singaporean Members of Parliament can debate in a civilized and acceptable honorable manner whilst our Malaysian Parliamentarians would rage and rant, scream and shout, even obscenities in Parliament! This sorry state-of-affairs continue even to this very day!
After Anwar Ibrahim’s eventual success in becoming the 10th Malaysian Prime Minister after his pact with UMNO’s President and his long time protege, Zahid Hamidi, derailed Perikatan Nasional’s Muhyiddin Yassin from almost returning to power in the concluded 15th Malaysian General Elections, the brief euphoria of Pakatan Harapan’s supporters has died down and the flash of feel good that showed immediately after the new Unity Government at the share markets and foreign exchange has dissipated and we are back to being the weak economy, Malaysia has now come to be identified as.
The Malaysian politicians have not repented and although the Anti Party Hopping Act has been passed at the Malaysian Parliament, their never-ending sabotaging and attempts to overthrow whoever is in power, either at the state or federal levels keep taking place. These shameless, unethical, corrupt politicians continue to spoil our country’s image and destroy our economy with their greed and immoral shenanigans. They don’t give a rat’s ass about what their constant feuds and treachery causes to the reputation of this country.
If this goes on, Malaysia is going to end in the dumps, and we can kiss goodbye to our dreams of being a developed nation, by 2030 or even 2050! Our Malaysian Ringgit was once even turned down at Thailand’s money changers and refused to be accepted by their traders and merchants. Our country has extremely high overheads. We have nine Sultanates and four Yang Di-Pertua Negeri’s @ Governors to provide for.
Not to forget the multitudes of Federal Ministries and thousands of Department Heads that cost so much yet bring so little returns to the nation’s coffers.
The traders across the border with Thailand even put-up notices like this devaluing our beleaguered Malaysian Ringgit!
Those in power continued to deny the fact of the declining value of the Malaysian Ringgit!
Pilferage, embezzlements, abuse of power, corruption and many other wrongful doings seems embedded in this country’s misadministration. Those in power get so many benefits from their official position. Everything is provided for them. Housing, transport, drivers, bodyguards, servants, even household utilities are paid for by the government.
Don’t even bother to consider, the many other privileges that comes with their paid jobs. This and that allowance, VVIP benefits, pensions that continue to be paid to them or their beneficiaries, even after their death. It’s mind boggling. I am not a financial expert but just think of all these burdening expenses, borne by the state and federal governments. Who pays for all these? The Malaysian taxpayers, of course!
If the Malaysian Government officials really, truly, do their jobs as they should, the country would be much better off than its neighbours. But the sad fact is that, even after the change of government, Malaysia is still in deep shit!
Reason being that it is now being proven that even after the kleptocrats were brought down in the past general elections, the crooks, and criminals, continue to be accorded all kinds of privileges. There were even dimwits who form ardent supporters of the kleptocrats, shedding tears and rallying for the royal pardons to be given to the thieving scoundrels.
Those who were regarded as highly religious and God-fearing, have time and times again been proven to be nothing more than vicious wolves in sheepskin. All these shysters are obsessed with gaining as much of the worldly material gains than bothered to consider that they will have to face Allah the Almighty in the Hereafter.
They go on annual Umrah or Hajj pilgrimages to Makkah and Madinah without fail but repeat the same old crimes against the nation like nobody’s business. Is Malaysia a truly Muslim nation, worthy of being heralded as the symbol of the global model country having true Islamic governance?
No sirree! It’s all a charade. Here, those who are titled and privileged, get away scot-free, whilst the common person gets skewered at their committing the slightest offence. There are double standards in everything. Those who embezzled billions of ringgits from the nation’s coffers, still get VVIP escort, privileges that are accorded to the ruling royals and those who wield unimaginable powers.
These won’t change till Doomsday. They claim to be dutiful servants of Allah but it’s all but only a facade. In a way, all these unethical misdoings contribute to the numerous factors that affect the standing of our country’s currency against many of the Asian nations.
Tun Dr. Mahathir Mohamad during his heydays was our country’s strongest leader and he made Malaysia into a strong and developing Asian nation. We were once considered as one of South-East Asia’s dynamic countries.
Sadly, we have regressed into the current situation because our nation after Mahathir’s era had weak and corrupt leadership. The ruling monarchs have not been of much help, either. They have been complacent and living a life that can only be said to be too cosy.
The Ottoman Caliphate came to its end because of the similar circumstances and failed to practice what they preached. We can’t expect any miracles to pull us through, out of the current rut! Change must come from a better line of leaders. The present politicians are only out to feather their own nests.
It’s all a case of ‘What is in it for me? 🙁