SOME 30 years ago, when Anwar Ibrahim first held the finance ministry post, he had help lay the ground works for an unbeatable Malaysian stock market, whose trading volume could easily beat the New York Stock Exchange.
IF the finance minister, who also happens to it be the Prime Minister now, has any intentions to rebuild on that unmatchable legacy, he has to crack the whip, and crack it hard.
IN between, Anwar Ibrahim's forced removal as Finance Minister, when it came to the stock market, Malaysians had very little to cheer about, and even then it came with a double eged sword.
THE Malaysian stock market hadanother record to its name in 2020 READ : Najib Razak Gave Malaysia, the longest bull run in the history of this planet.
ON paper, the resume itself on the longest bull run in the planet is mighty impressive, but beneth the surface there is a grim story, waiting to be told.
OVER the past five years since GE 14, that forced Najib Razak out of power, the Malaysian stock market have been sinking slowly into abyss.
THE record states , that over those five years, the Malaysian market has regressed by 23.7 per cent or in plain English it has lost nearly a quarter of its value, while the Indonesian market was up by 19.4 per cent, the US market by 38.5 per cent, the Chinese market by 8.6 per cent and the Japanese market by 32.4 percent.
THERE are many reasons for this steep decline, some of which are either cyclical or seasonal such as policital instabiliy and challenges to the GDP growth engine .
ONE permanent factor which has been chocking the stock market has been GOVERNANCE, that has been sacrificed some for poliical goodwill but in most cases due to corrupt practise taking at the highest level within the four walls of Bursa Malaysia, the Securitis Comission and Bank Negarq Malaysia
POLITICAL considerations too can be placed in the seasonal or cyclical pedestal, and as such, it is the constant and consistent ill gotten bread and butter meal, being eaten by vast majority of the regulators, which have put off serious investors.
INDEED there have been formal accusations that the level of corruption is at the highest level, having by passed the chronic level, yet the public has yet to be fed with the blood they bay for.
ACROSS the causeway, the insulting joke Malaysia has to put up is the real John Soh Chee Wen, who hails from Perak has been put in jail for rigging the market but the new Soh Chee Wen of Malaysia, Kenneth Vun Yun Liun who dare not operate or set foot on Singaporean soil, can roam freely in Malaysia.
KENNETH Vun is an angel when compared to
Victor Chin Boon Long and his posse of retired policemen, ex government laywers and ex regulators who help him curry favours and out right buy influence.
WHY has the attroney general been silent on this especially so since his office has been sitting on its backsides againt a case involving Victor Chin, deemed to be so serious that even the Royal Malaysian Police made a police report of its own in order to widen the scope of investigation before handing over the file case to the AG's office to prosecute.
THAT file specifically zeros in on the embezzlement of RM30 millon from Caely Holdings Bhd, but the Victor Chin posse is much more than that, there are also into gangster tactics such as threatening and iniimidation tactics.
WHAT happens when you allow gangsers into the board room? Well they will end up doing what they know to do best, which is to incorporate their criminal activities into the legal business by utilising their assets to ether clean dirty money or to incorporate those assets into their storage and distributing network .
IT won't surprise me a tad bit, when the dust settles in on the latest round of drugs found in Australia originating from Malaysia, which according to Prime Minister READ : this is the 13th time this has happened, the private report will identify the same set of posse using public listed companies aseet, to store, package and transport the drugs to the port before being shipped down under.
