Japan PM Abe's visits to Yasukuni glorifying Japan's war criminals, stirs new tension in Asia!

Japan's Prime Minister Shinzo Abe (2nd L) is led by a Shinto priest as he visits Yasukuni shrine in Tokyo December 26, 2013. [Photo/Agencies]

Exclusive interview: Abe accused of internationally insulting China and ROK CCTV News - CNTV English

Serious consequences warned after Abe pays war tribute

Shinzo Abe stunned the international community on Thursday by making himself the first sitting Japanese prime minister in seven years to visit a shrine that honors 14 World War II Class A war criminals among the country's war dead.

The abrupt move — widely viewed as rewriting public memory on Japan's militaristic past — enraged Japan's victimized neighbors including China and South Korea and disappointed Japan's traditional ally the United States.

Observers said the hard-core nationalist Abe is ruining the stability of Northeast Asia and that he seems to believe it is worthwhile to sacrifice honesty about history in order to revitalize Japan's assertive style of expansion before World War II.

Foreign Minister Wang Yi summoned Japanese Ambassador to China Masato Kitera to lodge a strong protest on Thursday. Beijing vowed zerotolerance for Abe's touching the bottom of the bilateral relationship, and for betraying the commitment of his government and his predecessors, he said.

Japan must bear "full responsibility for the serious political consequences" of the visit, he said, adding Abe's action has pushed Japan in an "extremely dangerous" direction.

The shrine used to serve as a spiritual tool and symbol of Japanese militaristic aggression, and Abe's pilgrimage is "a flagrant provocation against international justice", Wang said.

South Korean Culture Minister Yoo Jin-ryong said in a statement that "our government cannot repress lamentation and rage over Abe's paying of respects at the Yasukuni shrine, which glorifies its colonial aggression and enshrines war criminals".

A few hours after Abe went to the shrine, the US Embassy in Japan released a written statement saying that "the United States is disappointed that Japan's leadership has taken an action that will exacerbate tensions with Japan's neighbors."

Washington hopes that Japan and its neighbors will "find constructive ways" to deal with sensitive issues from the past, the statement said.

Yang Bojiang, deputy director of the Institute of Japan Studies at the Chinese Academy of Social Sciences, said Abe's visit will deal a heavy blow to Japan's international image and further isolate the country.

"Abe is risking support from within both Japan and the United States, and his political life will come to an earlier end," Yang warned.

Japan has strained its diplomatic relationships with China, South Korea and Russia in the past two years because of disputes over islands and historical issues, and the situation has also been a headache for Washington.

James Fallows, a national correspondent for The Atlantic Monthly, said, "there is almost nothing a Japanese prime minister could have done that would have inflamed tempers more along the Japan-China-South Korea-US axis than to make this visit".

"Americans who visit the ‘historical' museum at the shrine (as I have done) will note its portrayal of Japan being "forced" into World War II by US economic and military encirclement," Fallows wrote in his latest online article.

Abe is deliberately stirring up the situation to "make sure the tension does not fade away", said Feng Wei, a professor of Japanese studies at Fudan University in Shanghai.

"Because there will be no more excuses for his plan of revising Japan's pacifist Constitution if there is no tension in Japan's neighborhood," Feng said.

The visit was made as Abe's public support this month dropped to a record low since he retook office last December.

Akihiro Nonaka, a professor at the School of Political Science at Waseda University in Tokyo, said "the enshrining of the Class A criminals is unconstitutional, according to Japan's Supreme Court".

"He does not show respect for the countless Asian people who died in the war," Nonaka added.

Zhou Yongsheng, a professor of Japanese studies at China Foreign Affairs University, said what is behind Abe's pilgrimage is the accelerating pace of the Japanese government in seeking a right-wing style of governing, which is "bringing a huge threat to regional peace".

"As Abe is bent on eliminating all legislative restrictions against Japanese armed forces waging a war, the international community will be unable to rein in Japan from taking such a dangerous step," Zhou warned.

- China Daily USA

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Malaysia's jobless rate rising; Penang full employment, CM Christmas messages

Penang Chief Minister Lim Guan Eng looking at the artist impression of  The Top Komtar roof top project together with Only World Group chairman and group CEO Dato Richard Koh during the ground breaking ceremony, October 29, 2013. — Picture by K.E. Ooi

Prospective job hunters unable to score employment elsewhere in the country should try their luck north.

Penang Chief Minister Lim Guan Eng announced today a booming market in the northern state, so much so that employers are hard put to find sufficient qualified manpower to fill 20,000 vacancies critical to keep their entrprises running.

“There is a growing [sic] at the increased in unemployment rate in the country which is at 3.3 per cent in October 2013, an increase of 0.2 per cent from the 3.1 per cent in September this year,” Lim said, citing figures released by the Department of Statistics.

Official date from the departmen showed the number of unemployed in the country to total 462,300 people, an increase of 19,100 people from September to October.

In contrast, the number of people with jobs was cut by 98,500, leaving 13.7 million people employed out of a total population of 28 million.

“Despite the rise in unemployment rate in Malaysia, Penang continues to see not just full employment but a shortage of at least 20,000 workers,” he added in his Christmas message statement.

Lim attributed Penang’s high employment rate to its recent successes in securing several critical foreign direct investments (FDI).

He said his state government will be making several important announcements on these FDIs next month, with a promise that the details will fulfil Penang’s pro-growth and pro-jobs objectives that he boasted had become its policy since he took control of the state in 2008.

“Penang has neither been distracted nor detracted from seeking sustainable growth that provides jobs for Malaysians,” he said.

He proudly pointed out Penang’s annual healthy budget surpluses recorded since PR took over the state administration five years ago.

“The budget-based administration we implemented since 2008 had led to an increase in state assets by 50 per cent to RM1.2 billion and a reduction in state debt by a record 95 per cent,” Lim said.

As for investments, he said the state had recorded RM36.1 billion in investments between the years 2008 and 2012, which is almost double of the RM18.7 billion in investments between 2003 and 2007.

“This was achieved through fighting corruption, establishing integrity in public service and open competitive tenders,” he said.

He said the state is moving towards an outcome-based administration that focuses on getting value-for-money for government expenditure to lower maintenance costs while ensuring better quality in the public delivery of services.

He reassured Penangites who fall into the poor and the less-fortunate categories that they will not be forgotten, saying the state will continue to disburse cash allowances through its various social welfare programmes funded from its savings of public projects.

“We have also adopted the unconditional cash transfer model of topping up all families whose monthly household incomes are below the poverty line of RM 790 per month to make Penang free from poverty,” he said.

As part of his message for the season, he reiterated his administration’s pledge to roll out by February next year, a three-pronged housing policy, which has been a major issue in the land-strapped state.

To help put housing prices within the bank accounts of more residents, Lim said the state will compel private developers to build a fixed percentage of affordable housing priced below RM250,000 on the mainland, and below RM400,000 on the island.

The Air Putih assemblyman said the state investment arm, Penang Development Corporation, will also undertake to construct 20,000 units of public housing, to be priced below RM72,500 per unit.

There would also be a 10-year limit on reselling government-built housing, a five-year cap on homes built under the affordable housing scheme to prevent speculation.

Lastly, he said his administration will start imposing a 3 per cent tax on foreign property transactions and a 2 per cent levy on all properties that are resold within a three-year period.

“Just as Christmas is celebrated to give life to all, Penang can only prosper if everyone regardless of race or religion can enjoy the fruits of success together,” Lim said.

- Contributed by Opalyn Kok

Guan Eng's Christmas message gives a glimpse of new 'OUTCOME-BASED' policies 

The Penang state government reaffirms CAT governance of competency, accountability and transparency that upgrades budget-based to outcome-based administration that ensures economic growth(pro-growth), employment opportunities(pro-jobs) and equitable justice(pro-poor). Penang has neither been distracted nor detracted from seeking sustainable growth that provides jobs for Malaysians.

There is growing concern at the increased unemployment rate in Malaysia announced by the Department of Statistics at 3.3% in October 2013, up 0.2 percentage point from the 3.1% in September this year. October 2013 saw an increase of the unemployed by 19,100 persons to 462,300 persons, and there was a drop of employed persons by 98,500 to 13.70 million people.

Despite the rise in unemployment rate in Malaysia, Penang continues to see not just full employment but a shortage of at least 20,000 workers. Penang’s recent successes in securing several critical foreign direct investments, which will be followed by important announcements next month, will fulfil the pro-growth and pro-jobs objectives of the Penang PR state government.

The budget-based administration implemented by PR since 2008 has led to a healthy budget surplus every year, increase in state’s assets by 50% to RM 1.2 billion and a reduction in state debt by a record 95%. Again, investments was a record RM 36.1 billion for 5 years from 2008-2012, which is nearly double that compared to RM18.7 billion from 2003-7. This was achieved through fighting corruption, establishing integrity in public service and open competitive tenders.

Outcome-based administration

Moving towards outcome-based administration in the second term of government, focuses on getting value-for-money for government expenditure that will not only assist in reducing maintenance costs but also ensure better quality in the public delivery of services. This will go a long way towards achieving a cleaner, greener, safer and healthier Penang.

However the poor, the weak and those who need help are not forgotten. Penang is not only the first state to give cash contributions to ordinary citizens as part of the anti-corruption dividend but also the first state in Malaysian history to wipe out corruption. Adopting the unconditional cash transfer or UCT model of topping up all families whose monthly household incomes are below the poverty line of RM 790 per month, Penang is free from poverty.

First-time buyers and middle-income groups seeking to buy houses will benefit from the 3-prong housing democracy strategy of:-

• Compelling private developers to build a fixed percentage of affordable housing(above RM72,500 but below RM250,000 on the mainland and below RM400,000 on the island) and public housing(below RM72,500);
• Building 20,000 units of affordable housing through Penang Development Corporation(PDC); and
• Implementing new housing rules after 1 February 2014 of a 10 year restrictions on resale on public housing and 5-year restriction on affordable housing, an approval fee of 3% on foreign transactions and a 2% approval fee of all sales made within 3 years from signing of the Sales & Purchase Agreement.

Just as Christmas is celebrated to give life to all, Penang can only prosper if everyone regardless of race or religion can enjoy the fruits of success together.

Penang is also proud to offer fundamental rights such as freedom of speech and expression. As the art and cultural capital of Malaysia, Penang celebrates the right to live with dignity in an inclusive society. As Nelson Mandela said, “.For to be free is not merely to cast off one's chains, but to live in a way that respects and enhances the freedom of others.”

- LIM GUAN ENG IS THE PENANG CHIEF MINISTER

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Transforming the company into a heavyweight, sharing his love

Tee (left) and Ooi chatting with Mazlin.

Transforming Daya into a heavyweight

Contributed by Tee Lin Say

YOU have to meet Daya Materials Bhd executive vice-chairman Datuk Mazlin Junid in person to understand why he appeals to people at large.

The first thing you notice is how witty and direct he is. So, no superficial talk on “how your day was” or whether “the coffee tastes okay”.

Mazlin tells you things as it is, so don’t ask if you aren’t prepared. That, however, is his charm. What you see is really what you get.

Physically, Mazlin is good looking. Despite the Prada loafers and 7 for all mankind jeans, there is an almost Neanderthal-like quality about him. In the band of brotherhood, Mazlin’s more of your Vin Diesel than an Orlando Bloom.

He has two great goals in life now. The first is a vision to transform Daya into a heavyweight. He’s aiming for the company to join the billion dollar club over the next three years. (For the nine months to Sept 30, 2013, Daya’s revenue jumped 110% to RM373mil in revenue and net profit increased 26.74% to RM18.9mil)

The other, is to look like his idol, Australian actor Hugh Jackman.

He loves the pain that comes with pushing himself to extremes. Dumb bells are his favourite toys. Why, he even celebrated his birthday in the gym with his gym mates.

“I am 52 now. I have done it all. The cars, the yacht, you name it. What turns me on now is winning contracts for Daya,” says Mazlin resolutely.

“At the end of the day, a company needs to deliver. We are very focused on creating value and growing the company over the long term. I have huge responsibility to my staff and the people who gave us contracts. We have to deliver based on my vision for the company, Daya is still undervalued, “says Mazlin.

“You must always take responsibility. It’s not about following your emotions. Whether it’s to your family, the people you work for, your client, or someone you dislike, take responsibility,” he says.

He adds that with Daya Offshore Construction Sdn Bhd (DOC) going out there to secure contracts from Norway, Daya is in fact going against the grain of typical Malaysian oil and gas companies.

When asked what Malaysia’s problems are, he responds: “If there is a hard truth Malaysian companies must learn, it is to stop the habit of political patronage,”

Not surprising, Daya has been one of Bursa Malaysia’s outperformers this year. On a year-to-date basis, the stock is up 116% to 41 sen as of Thursday.

While Daya started off in 1994 as a specialised polymer company, it has since expanded substantially into the oil and gas (O&G) business. Daya was initially more focused on the downstream O&G segment, where it was already established as a leader particularly in chemical services. It chugged along, growing organically until this year, which was clearly the inflection point for Daya.

This started with the formation of DOC last September, of which Mazlin appointed Mark Midgley CEO.

Almost immediately DOC began delivering results.

The arrival of vessels Siem Daya 1 and Siem Daya 2 literally created waves. DOC secured two major contracts in less than six months from Norwegian firm Technip Norge AS for charter and subsea contracts worth RM440mil and RM100mil-RM176mil respectively.

The latest research house to give its mark of approval to Daya’s efforts is RHB Research, which has a 48-sen target price. DOC is already contributing almost 50% to Daya’s topline.

“Suddenly Nathan (Daya’s MD Nathan Tham) was busy answering calls from some 40 fund managers. People wanted our shares and started saying Daya was the smallest O&G stock and with the most growth. I guess this is what happens when earnings have been growing organically over the last five years,” laughs Mazlin.

Sharing his love

Contributed by Xandria Ooi

FASCINATION is what I’m feeling when talking to Datuk Mazlin Junid, a man who doesn’t mince his words, yet laughs so often you know he doesn’t take himself seriously.

Work, however, is a different matter.

When you’re a business leader, he says, you don’t have to be liked. “If you want to be popular, you can’t get things done.”

We’re sitting in the quiet guest lounge of Daya Materials and Mazlin is extremely casual and candid. It feels like a chat, not an interview.

He explains to me how he doesn’t hesitate to fire people, even at the directorial level, because they either weren’t performing or did something that conflicted with the interests of the company.

“And he could be a friend,” he says matter-of-factly. “Friendship is secondary, the company always comes first. All that matters is our bottom line.”

I can’t let it go, not quite believing that a man as affable as he is, truly doesn’t care what his employees think of him. Don’t people who like and respect their bosses look forward to going to work and having the motivation to work harder?

“Well, I like them to like their jobs.”

Would you be okay if your successor in the future is a woman?

“Oh certainly, I’m not gender specific. I’d like to have more female board members but right now, there’s only a few. Malaysia’s industry has always been a bit chauvinistic with few women leaders, except maybe banking.”

He mentions Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz as a woman he feels is a brilliant leader, alongside Tan Sri Rafidah Aziz and Datuk Farah Khan.

“Women,” he says, “are more passionate. There are very few female business leaders who can be as cold-hearted as men. People like me, I’m very cold-hearted.”

In what way? “Well, when I take more than one wife, for example, I’m very cold-hearted about it.”

But that’s not business, I protest, laughing.

But since he brings up his wives, I assume I’ve just been given permission to delve into the topic of his rather large family, with four wives and now three, after a recent divorce.

People ask him, all the time, why he chose to have so many wives.

“And I tell them ... because I could. Although now, I wish I hadn’t.”

Why? I’m fascinated. This is, by far, one of the most interesting conversations I’ve had about relationships.

He makes a noise, somewhere between a grunt and a sigh. “The amount of stress and management! Obviously, all these things that happened, nothing was planned.”

I raise my eyebrows. What do you mean, nothing was planned? When you propose to a woman, isn’t it planned? I point out.

He counters that it wasn’t his lifelong ambition to get married multiple times. “Sometimes it was done on a spur of a moment”.

Are you the kind of man who gets swept away by love and that’s why you propose to women on impulse?

“That’s a good question,” he muses. “Somebody asked if I know what love means. Until today, I can’t figure it out – what love for a wife is all about. Responsibility, somehow, is stacked right at the top for me.

Running one household is hardly easy, but to run four (now three) at a time, takes some mighty management skills. Mazlin has it down to a workable, practical schedule that he says keeps everyone happy.

As he explains it, “Relationships are just like work. I use my work practices at home. There are tasks to be done and I implement the same regime for every household.”

I listen wide-eyed as he elaborates, describing how he sometimes repeats the same holiday three times with his different wives.

“No, my wives don’t mix,” he volunteers the information, knowing what I am about to ask just from the look on my face.

Surely there’s bound to be jealousy?

“They’re not jealous of each other, but they’re jealous of other women!” he declares and I am reminded of how he can now marry another.

“Somebody asked me if I’m on a fleet renewal programme,” he jokes. “But no, I have my hands full right now.”

Making Malaysia’s Base Lending Rate more relevant

 New interest rate framework expected to be more linked to funding cost

BANK Negara is moving ahead with the times by replacing the outdated base lending rate (BLR) with a more relevant interest rate benchmark.

“The BLR has become less meaningful as a basis for the pricing of loans, as the retail lending rates on new loans being offered by the industry are at a substantial discount to the BLR,’’ The Star reported, quoting governor Tan Sri Dr Zeti Akhtar Aziz.

For the third quarter this year, the average lending rate (AVL) was 5.4% compared with the BLR of 6.53% and fixed deposit (FD) rate of 3.15% for 12 months.

For the corresponding quarter last yer, the AVL was 5.55% while the BLR was still at 6.53% while the FD rate for 12 months was 3.16%.

The current BLR reflects other costs such as overhead costs.

The new framework will be more related to funding cost, especially marginal funding cost, which is actually how banks are pricing their loans, Zeti said.

While work is underway to come up with a new BLR, the intervention rate under the current BLR framework is expected to nudge upwards, said Nazlee Khalifah, the chief corporate strategist of Affin Bank.

Under the current BLR regime, the intervention rate of 3% is expected to increase 25 basis points by next June, said Nazlee.

The upcoming BLR is being discussed with a concept paper expected next month.

‘“They have to think of how to prevent capital flight as interest rates in the United States may rise and attract capital back to the country,’’ said Nazlee.

Beginning next January, the Fed announced it would start pulling back its bond buying from US$85bil per month to US$75bil.

Instead, it will provide forward guidance on interest rates which are expected to remain low, in view of US unemployment being above 6.5% and inflation kept low.

The US$1 trillion stimulus programme has been a huge success but this is the journey back to fundamentals.

The world economy is being weaned of easy money and every player has to play his part in ensuring recovery and sustainability.

It is not enough for just the regulators to be keeping an eagle eye on miscreants but the participants themselves have to know their limits.

The Hong Kong Securities and Futures Commission is cracking down on insider trading.

In a landmark ruling, a Hong Kong court has ordered Du Jun to pay 297 investors almost HK$24mil for the money he earned from his illegal dealing in 2007, said the South China Morning Post (SCMP).

Last year, 7,700 investors who bought shares of Hontex International were paid back after a court ordered the sport fabric maker to pay HK$1.03bil to small shareholders for allegedly misleading information in its listing prospectus, said the SCMP.

There have been many instances of insider trading but the punishment has become more severe in view of the trend towards investor protection and reimbursement worldwide.

Contributed by Columnist Yap Leng Kuen applauds the tapering off of the era of easy money.

It is a small world

The world is actually quite small

EVERY week, I go to the nearby wet market to stock up on provisions. One of the stalls I have to stop by is run by a young man who knows that I am there to collect my weekly quota of 20 kampung eggs.

Recently I asked him if he might want to consider starting up an online service to provide home delivery to his regular customers. After all, even the major hypermarkets are going big time in providing such a service to tap into the trend of people being so busy that grocery shopping needs another approach.

His reply tells me once again that true wisdom rests among ordinary people who truly know what the real world is all about. You can grab quotations from wise men and manage­ment gurus but sometimes the real gems are from people like my egg seller.

He basically told me that it is better for me to come out and get the chance to meet people rather than stay in the house. Every moment in any public area, he said, is fresh and unpredictable.

“You can bump into people you have not met for a long time or come across something interesting that cheers you up when you are feeling down,” he said.

The egg seller is correct to say that every moment in public is fresh and unpredictable. I have always believed that nothing happens by chance. Some call it divine appointments but it is this connection of one human to another that opens up a myriad of possibilities.

Through such encounters, we learn that the world is actually quite small once we start connecting the dots and learn that the person we have just met is actually not quite a stranger after all.

As much as I love the written word, I find that it is the spoken word, with all the body language appended, that conveys the true meaning of what we want to say.

To tell someone you are sorry through a card is easy even if you do not really mean it. But to say you are sorry up close and personal, you’d better mean what you say or else.

Those who are less socially inclined than I am will disagree when I say that we are not created to be solitary beings. We need company to flourish in thought and in deed.

We can talk about feeling the pulse of the people and of being connected to the grassroots, but if we are only doing so from the comfort of our living room or office, we will never get the real picture.

Some of the things I read online will make me think there is absolutely no hope left in the country, but when I am out there, I realise that this is just not the case.

Take a ride on the bus or the LRT, drop in to see a friend at the hospital, take a walk around the neighbourhood, have a chat with the grasscutter ...

Then you will learn that the world we live in is a wonderful place because the people make it so.

And we do so by not merely looking out for our own personal interests, but also for the interests of others.

In this season of Christmas, it is my hope that we do our part to reach out and love one another. We can, and we will, make a difference.

Contributed by Soo Ewe Jin. He wishes all Christian readers a blessed Christmas with a gentle reminder that this is the season not only for giving but for forgiving as well.

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