LAPORAN AUDIT NEGARA 2015 (SIRI 2): ISU PEMBELIAN PENIMBANG DIGITAL

Seperti menjadi rutin tahunan, laporan ketidakpatuhan kewangan dan pembaziran terus menjadi intipati dalam laporan Ketua Audit Negara yang dikeluarkan baru-baru ini.

Pembelian Penimbang Digital dengan harga RM8,000, walhal unit yang sama dibeli pada sebelumnya adalah pada RM800. Berganda harganya. Isu dinyatakan dalam Laporan Audit Negara 2015 (Siri 2). Pembelian dilakukan oleh Kolej Komuniti Jerantut.

Laporan menyatakan bahawa pihak kolej membayar dua harga yang berbeza bagi item yang sama iaitu penimbang digital 1 kg. Pembelian pertama adalah pada Bulan Julai 2012, manakala pada Oktober, barang yang sama dibeli pada harga RM8,000.

Kementerian yang bertanggugjawab iaitu Kementerian Pelajaran Tinggi menjelaskan bahawa item tersebut adalah tidak sama dan lebih kompleks berbanding item sebelumnya. Ianya lebih tepat, ada bateri yang boleh dicaj semula serta boleh disambungkan kepada Printer dan komputer.


Ikuti blog ini untuk mengikuti perkembangan Laporan Audit Negara 2015 (Siri 2).


Sumber: The Star, 24 November 2016

Apple Vs FBI

Alternative Solution to Improve Malaysia Airlines (MAS)?

The consolidation exercises are on its way to downsize and save the national airlines. The scary part will be the 6,000 jobs cut. Recently, some quarters believe they have another solution to improve MAS without sacrificing the Airlines valuable staff and routes. One such plan hails from Jentayu Danaraksa Sdn Bhd (By the way this company spring to existence at its infancy stage, August 2014)

The most perplexing situation is that they propose to grow the MAS size instead of shrinking it. Hmmm.....The salient points of the proposals is for MAS to capitalise on the aircraft leasing business, enlarge the maintenance, repair and overhaul (MRO) business and they even stated that there was no need to dismiss the 6,000 workforce.

Jentayu is led by MAS's former managing director Tan Sri Abdul Aziz Rahman. They had met the Prime Minister and was told to discuss with Khazanah. After MAS in red due to the two unfortunate events, Khazanah has injected RM6 billion cash and initiate the 12 radical overhaul exercises. The plan includes taking MAS private, cutting 6,000 jobs, reducing scale and size of MAS, renegotiating new terms with suppliers and setting up a new company to take over the operation by July 1.

As for the Jentayu's proposal funding, they claim that they have the private sectors backing them (hopefully no guarantee loan from the government). Even the MAS's largest union give them the green light. The burning question is whether the proposal be even considered?

The Weak Performance of Ringgit

Apart from series of abolition and reduction of subsidy, Malaysia tends to continually suffer the depreciating ringgit. The declining value has sparked a grave concern to many people.

Although Bank Negara has had gave numerous assurance, the values of ringgit continues to diminish. The direct impact of weak ringgit will be on the imported food. Many fathom that the reason of the declining values was due to unimpressive government finances as manifested by prolonged budget deficits and rising national debts.

As the former Finance Minister, Tengku Razaleigh Hamzah points out that the federal government deficit has been sustained borrowings that are now reaching close to statutory debt ceiling of 55% of Gross Domestic Product (GDP). In January 2012, the ringgit against dollar was RM3.15 and in August 2013, it climbs to RM3.30.

If we compare the ringgit with Singapore dollar, the ringgit had fallen to a 15 years low at RM2.5479. Instead of drumming a constant assurance, the Bank Negara should acknowledge the setback and chart the next course of action to cater for the critical deficit. The government can not rely heavily on subsidy reduction to close the wide deficit gap. They should devised an ingenious way to increase revenues couple with greater effort against corruption and wastage.

DIFFICULT TIME AHEAD FOR MALAYSIA

Before we dive into the Malaysia's economy, we shall look at the performance of other countries that directly influence our financial state. America, albeit the growth turmoil had recovered but it happened at extremely slow pace. The US Gross Domestic Product (GDP) has slowed from 2.4% in 2010 to 2% in 2011 and 1.6% in the first half of 2012. The economist forecast only 1.5% growth for this year. If the trend continues, the economist warned that US shall fall back into recession.

As for the Europe, the 17 nation euro zone manage to grow at about 0.3% in the second quarter after 18 months contractions, thanks to the revival of German. China, our largest market has its GDP fallen to 7.6% in the first half of this year. Singapore forecast the growth between 2.5% to 3.5% for this year. Last year Singapore's GDP stands by only 1.3%.

Recently the Ringgit lost as much as 0.4% to 3.272 per US dollar, its weakest since June 2010. It is estimated that it could reach to 3.3. against the dollar over the next six months. With slower import from our counterparts, Malaysia's earnings shall decreases and it will significantly affecting the economy due to the slower demand. The recent subsidies rationalisation may help the government to cope with the account deficits albeit small amount for the overall effect. The government need to act fast by not just focusing on the savings but also finding a new market abroad and revenues to cushion the impact.

RUMOURS ON THE GOVERNMENT EXIT FOR THE AVIATION SECTOR

Hot talks about selling the Malaysian Airlines (MAS) has resurfaced recently but with no concrete or affirmative response from the government of Malaysia. It is anticipated that such moves is inspired by the turnaround stories of Japan Airlines and Philippines Airlines which succeeded to make good profits after years in losses making.

Many of the industry experts opine that it was the right time for the government to let go MAS due to poor performance and continuous losses. However, as mentioned by Minister in the Prime Minister's Department Datuk Seri Idris Jala, the selling price must be calibrated at the most reasonable price as the public money is involved.

The government ownership in MAS comprises of two main players which are Khazanah Nasional Berhad (69.37%@11.59 billion shares)) and Employee Provident Fund (EPF) account for 1.04% or 174.21 million shares.

But it is not all gloom and bleak pictures of the current MAS performance. Indeed, MAS did some improvements but the yields for every flights are not encouraging. The merits of privatisation of MAS must consider the impact that it may impose to the nearly 20,000 employees, the credibility of the buyers to improve MAS turnaround and the most appropriate price to sell. To date, MAS is valued at some RM5.26 billion.

NAJIB'S FATES IN UMNO

After the intense election period ended, The Prime Minister spent most of his time in Putrajaya, perhaps to reflect and to rethink the outcome of the polls. Barisan may be seen to maintain their grip as a government but  won by a simple majority.

Barisan won 133 seats but fewer than the 2008, 138 seats. The issue that will cropped up in the UMNO upcoming assembly would be whether Najib will take a full responsibility as what had happened during Pak Lah tenure. Various Umno leaders have been issuing statements asking for a no contest for the post of the party president and the deputy president to avoid split.

Still, some argued that such statement may hinder the democracy principle practice by the party. On the contrary, Najib had announced that all posts are open to challenge. The new Umno electoral system with 140,000 delegates will decide on the new Umno leadership line-up. Therefore, telling others not to contest under the new scheme would be redundant as it just need a simple nomination to qualify for the post contest. Needless to say, thorny roads lies ahead for Umno as the outcomes of polls has changed the political landscape into an uphill battle.