Thursday, July 3, 2008
Of Young Professionals in politics, Oil news and UMNO elections
On attracting the Young Professionals: we've been asked to engage our young professional friends to get feedbacks on current political scenario. Whether it's positive or negative, any constructive idea or feedback to strategize the way forward is welcomed. Many have spoken about membership drive, leadership qualities, wealth distribution and social contributions. Above all, the young ones want to move forward and react to the situation, not just firing out rhetorics. How should we move as one? Remember that participation in politics does not necessarily mean holding positions in the party. Membership also plays a big role, especially when you are empowered to exercise your voting right to choose the right leader.
TDM has touched about the coming global recession and the 3F crises (food, finance, fuel). It's amazing that our media touches lightly on these important issues, especially when everyone is glued to the tv on who has done who and who has said what about who. I gather this will go on until either MPs hop in September and crown DSAI as our PM or when UMNO has completed its election in December. Until then, no one is truly worried about whether crude price will reach USD200/bbl or how to combat the depreciation of US dollar by minimizing the damages on our economy. Many have suggested switching investment to Europe and using the Euro for oil & gas transactions, considering that US dollar is widely used in the business.
Chevron recently was fined USD30M with corruption for giving kickbacks to SH in return for lucrative oil purchase. What is USD30M compared to the revenue generated from the oil purchase.
On UMNO: At Division level, many are rumored to challenge the current regime. 14 Divisions in Kelantan and almost all Federal Territory Divisions will see a contest for Division Chief position. Johor will also see their fair share where some division chiefs will be challenged. At national level, people anxiously wait for announcements for top guns to contest the two top posts. We already know 14 will contest for the 3 hot Vice Presidencies.
At UMNO youth level, it seems that there will be a 4-cornered fight for the Youth Chief post.
Putrajaya Division will also see some action with a 3-cornered duel. Expect another exciting election year. Selamat bersidang.
For the property market, some have advised not to acquire assets until at least 1Q09, fearing chaotic market sentiments after the UMNO elections. Bursa was shut down today for 'technical reasons'.