Tuesday, September 30, 2008
THE FINANCIAL CRISIS OF 1997 - 1998
By Nor Mohamed Yakcop
A moment comes, which rarely comes in a lifetime, when a particular event redefines a person’s life and changes the course permanently. For me, the meeting with Dr. Mahathir Mohamad in Buenos Aires (Argentina) on the evening of October 3, 1997 was such an event. It enabled me to devote the next 6 years of my life working for Dr. Mahathir Mohamad, meeting him almost daily. In the process, it enabled me to see, at very close range, the abilities of this great man.
The combination of many noble qualities in one person is rare, and it is this unique combination that has enabled Dr. Mahathir Mohamad to transform Malaysia from an otherwise typical third world country into a thriving and vibrant nation, well on the way to become a developed nation. It is also this combination of qualities that enabled Dr. Mahathir Mohamad to save Malaysia from becoming another IMF nation during the financial crisis of 1997 - 1998.
I am often asked about my involvement in the recovery plan implemented on September 1, 1998. It began on September 29, 1997, when I received a telephone call from the office of Dr Mahathir Mohamad informing me that the Prime Minister wanted to see me. The PM was in Cuba at that time, and I asked (in jest) if I was to meet the Prime Minister in Cuba !
I was told (not in jest) that he will be arriving in Buenos Aires on October 3, 1997 and I was to make sure I was in Buenos Aires at least a day before he arrived. I packed my bags and left for Buenos Aires, and arrived in Buenos Aires on October 2.
The PM arrived the following day at 5 pm and we met immediately at his suite. He informed me that he had asked many people to explain to him what was causing the financial crisis but no one was able to give him a satisfactory reply. He asked me whether I could explain to him what exactly was happening.
I asked him how much time he had, and he said two hours. I explained to him how the forex market works, about short positions and long positions, about hedging and how currencies are borrowed and sold, the difference between “bid” and “offer” and how funds can be transferred from one country to another at the click of a button. I also explained how the equity market works and the relationship between the forex market and the equity market. Dr. Mahathir hardly said anything, asked one or two questions, and listened intently.
After two hours, he had to end the meeting to get ready to go for an official dinner. He asked me about my plans for the night and I said I had been invited for the same dinner. Dr. Mahathir said to me: You go back to your room and write down all that you have been telling me for the last two hours, and see me at 7 am tomorrow. I went back to my room, skipped dinner, and wrote it all down, finishing at about 6 am.
I saw him the next morning at 7 am and gave him the report. He asked me to take a rest and come back again at 2 pm. When I returned, he told me that he had read the report and that he now understands what was happening in the financial markets. We started discussing various methods of overcoming the crisis, and our discussions continued when we returned to Malaysia. I met him almost daily for discussion, sometimes at his house and sometimes at his office. We tried a few mechanisms to overcome the crisis, some of which worked initially, but the hedge funds were so strong that it was difficult to proceed successfully with these mechanisms.
In early 1998, Dr. Mahathir Mohamad asked me to explore the idea of imposing an exchange control regime to overcome the crisis. I remember preparing voluminous notes on this subject. Dr. Mahathir went through the notes carefully, and kept asking for more and more details. We went through many rounds of discussion, until he was finally convinced both with the concept as well as the proposed mechanism. The rest, I guess, is history.
Dr. Mahathir also asked me to prepare a paper on how to put an end to Malaysian shares traded in CLOB (Central Limit Order Book) in Singapore. Dr. Mahathir was of the view that an important reason for the falling stock market was the short-selling of Malaysian stocks in CLOB. I prepared the report and Dr. Mahathir understood, for the first time, how exactly CLOB operates. The report, which was also implemented on September 1, 1998, put to an end the trading of Malaysian shares in CLOB.
I should add that the exchange control measures were crafted in such a way as to minimize the control aspects and maximize the outcome. The Prime Minister went through the proposed mechanism many times to make sure that the control elements were as few as possible, but adequate enough to ensure a positive outcome. There were no bureaucratic elements in these measures, such as requiring importers to obtain Bank Negara’s permission to import. The Ringgit was also pegged at a level where it was not overvalued. In almost every other country, which imposes exchange control measures and pegs its currency, there would, almost by definition, be numerous bureaucratic controls, and the currency would also be pegged at an overvalued rate.
It is often assumed that the system of exchange control (including fixed exchange rate) that we implemented on September 1, 1998 saved the country. The measures of September 1, 1998 were undoubtedly a necessary condition, but it was not a sufficient condition to overcome the crisis. Malaysia was saved, not by exchange control measures per se, but by Dr. Mahathir Mohamad.
Let me explain. Any other developing country, facing a similar crisis, if it had introduced the measures that we introduced in September 1998, the measures would probably have failed. The fact that in Malaysia these measures succeeded is due to the ability and character of Dr. Mahathir Mohamad. The economy and the financial system, under Dr. Mahathir’s leadership, was in a very healthy state–healthy enough for the exchange control measures to be implemented without negative consequences. Moreover, the Prime Minister’s hands-on management style enabled quick and timely decisions to be made, which was vital under the new exchange control regime.
Dr. Mahathir, as Prime Minister, had ensured that the Malaysian economy was fundamentally strong. Ringgit was strong and stable. On the back of the currency stability (at RM2.50 against the US dollar) Malaysia was doing very well. At the end of 1996, real Gross Domestic Product (GDP) grew at almost 8.5 per cent and the growth was expected to continue for many more years. The government was enjoying a fiscal surplus. The external debt was low, at 40 per cent of the Gross National Product (GNP). The current account of the balance of payments had narrowed from a deficit of 10 per cent to 5 per cent of GNP, and was expected to improve further. Inflation was at its lowest at 2.1 percent. We had steady growth of over 8 per cent for a major part of that period. And this fundamental strength of Malaysia was a critical factor that enabled the exchange control measures to succeed.
For a period of more than a year after the measures of September 1, 1998 were implemented, the Prime Minister met with a small group of us everyday - 6 days a week - for at least 2 hours to go through various economic data, including data on loan growth, exports, imports, property overhang etc. This enabled the Prime Minister to take quick actions, whenever required. I remember one morning when we were going through the property figures, he looked at me and directed that I should organize a property fair to clear the overhang of properties. I did, and property worth more than RM 3 billion was sold. Even after the crisis was over, Dr. Mahathir continued to meet with the group regularly, though no longer on a daily basis. And Dr. Mahathir continued to go through all the economic data with a sharp pencil.
No other Prime Minister in the world, either in developed or developing countries, employs such a hands-on approach in managing the economy. We can see, therefore, that it was not the exchange control measures per se that saved the country but the man — Dr. Mahathir Mohamad — himself.
The period 1997 - 1998 was, to paraphrase Charles Dickens, the worst of times, but it was also the best of times. The worst conditions brought out the best in Dr. Mahathir Mohamad. There is a saying that a good leader is like good tea - you only know the true quality when he is in hot water !
Throughout the crisis, the Prime Minister was focussed on resolving the crisis. Day and night, he thought of nothing else but the crisis. He read all he could on finance; he kept asking me to prepare notes on various technical issues. Sometimes he was sick with bad flu and cough, but he did not take time off to rest. He was convinced that he had to understand the issues before he could work out the solutions. His native intelligence and ability to focus on core issues were there throughout the crisis. He did not show any sign of fear even at the worst of time, only concern at the fast deteriorating state of the economy. He was, at all times, confident that he would prevail in the end.
I would like to add two additional points related to the financial crisis. The first is that, in implementing the measures of September 1, 1998, Dr. Mahathir not only saved Malaysia but the neighbouring countries as well. Let me explain. When Malaysia imposed its exchange control measures on September 1, 1998, the currency speculators realised that the other affected countries (Thailand, Indonesia and South Korea) could also impose similar controls, and they, therefore, stopped their activities in its track. The speculators backed off. They bought back the currencies that they had sold. This is resulted in the regional currencies appreciating. Moreover, the International Monetary Fund (IMF) was not happy with what Malaysia had done, particularly since, after implementing the measures, we did exactly the opposite of what the IMF wanted us to do, i.e. we lowered our interest rates and injected liquidity into the system. The IMF, therefore, started relaxing conditions in other countries and allowed them to lower their interest rates and allowed them to inject liquidity to stimulate their economies so that Malaysia would not outperform the IMF countries. Therefore, it is no exaggeration to say that Dr. Mahathir Mohamad not only saved Malaysia, but the other affected countries in the region as well - Thailand, Indonesia and South Korea.
My second point is regarding what would have happened if the exchange control measures were not implemented. If the measures were not implemented, many of corporations in Malaysia would have gone under, due to the high interest rates. When the corporations fall like dominos, banks would have faced severe liquidity and solvency problems due to the ballooning NPLs. The problems of the banks would have resulted in a credit squeeze, which would have led to another round of corporate failures. The Government’s revenue would have fallen drastically as fewer firms would be paying corporate taxes, thereby reducing the Government’s ability to stimulate the economy through fiscal policy measures. As a result of the problems faced by corporations and banks, unemployment would have increased substantially, leading to a second round of problems. This is the classic vicious cycle, which could have, in the end, destroyed the social and political stability of the country. This was a scenario that was waiting to happen. It did not happen because of the decisiveness and guts of Dr. Mahathir Mohamad, who decided to take the path less travelled.
We owe Dr. Mahathir much gratitude for what he has done for Malaysia over the last 22 years. Solving the financial crisis of 1997 - 1998 was just one, albeit perhaps the most important, of Dr. Mahathir Mohamad’s many contributions to the nation.
On a personal note, over the last 6 years, I have come to admire this great man for his abilities, his high moral values and, most of all, for his sincerity. Certainly, a man like Dr. Mahathir Mohamad is not born everyday.
(23rd. October, 2003)
Monday, September 29, 2008
In the oil patch, a rising death rate
Many workers have been killed in Texas, the nation's leading producer of oil and gas
By BETSY BLANEY Associated Press
Sept. 11, 2008, 11:35PMom
SNYDER — Less than two months into the job in the oil fields of West Texas, Brandon Garrett was sliced in half by a motorized spool of steel cable as he and other roughnecks struggled to get a drilling rig up and running.
Garrett's grisly end illustrates yet another soaring cost of America's unquenchable thirst for energy: Deaths among those working the nation's oil and gas fields have risen at an alarming rate, the Associated Press has found.
At least 598 workers died on the job between 2002 and 2007, according to the U.S. Bureau of Labor Statistics. During that period, the number of deaths per year rose by around 70 percent, from 72 victims in 2002 to 125 in 2006 and a preliminary count of 120 in 2007.
The number of people laboring in the nation's oil and gas fields has been soaring as part of a drilling boom that began in 2000-01, but that alone does not appear to explain the rising death toll, since the fatality rate — that is, the number killed relative to the number of workers — also climbed during the first half of the decade.
Many of those deaths have happened in Texas, the nation's largest producer of crude oil and natural gas.
Numerous factors
Experts blame several factors for pushing the toll ever higher in an industry long considered one of the most dangerous in the nation. Among them:
• A dramatic increase in drilling, spurred by record-breaking oil and natural gas prices. The number of workers in oil and gas jobs shot up from 290,000 in 2002 to 428,000 in 2007. In July 2002, 740 land-based oil and gas rigs were operating in the United States; today, there are about 2,000.
• An influx of new workers hired to operate all those rigs. Many of the newcomers are young, inexperienced and speak little English.
• A high-pressure environment where workplace safety lapses are common. Government agencies responsible for enforcing the rules rarely dole out tough penalties.
• Rampant drug and alcohol use among workers, some of whom turn to methamphetamine to get through 12-hour shifts and labor up to 14 days in a row.
Workers at drilling sites are surrounded by heavy machinery that can kill or maim in an instant. About half the workers who die are struck by equipment or are killed in motor vehicle accidents. Others fall from catwalks, are crushed by falling loads, burned in explosions or become tangled in chains and cables.
'Hazardous industry'
"This is a very, very hazardous industry with a very high rate of injuries and fatalities," said Peg Seminario, director of safety and health for the AFL-CIO. "Safety and health problems are not getting the attention they need. With the growing demand for oil and petroleum products, the production pressures are going to increase and the safety and health problems are going to get worse."
Many experienced oil field workers left the industry in the mid-1980s during the oil bust, when a barrel sold for less than $10. Now, with prices over $100 a barrel, many drilling companies are hiring workers with little or no experience.
"A lot of the rig crews are made up of people who were working at Wal-Mart yesterday.Literally," said Mark Altom of the Woodard, Okla.-based Energy Training Council, a nonprofit organization whose programs are recognized by the Occupational Safety and Health Administration.
BN labelled racist?
My reply> if BN is to be blamed for racism, the structure of Pakatan should also be scrutinized especially its rogue semi-political organization Hindraf. How does one fathom ethnic cleansing in this relatively peaceful nation? DAP reeks of chinese domination while PAS and PKR are still dominantly Malays. Of course the multi-racial memberships of DAP and PAS can be credited as being 'Malaysian', same with UMNO and its Sabahan counterparts. The ultimate power and influence in the party is another issue. The National Front structure provides the solution for a 'Malaysian' identity. Agreed that it has lost ground in support but that's a different causality. There is nothing wrong with racial identification, that is what defines culture. Tolerance is what's lacking in our society. Freedom of speech and openness are also over-rated.
Let's see Anwar reshape the political landscape by 'integrating' all components of Pakatan Rakyat into one viable and cohesive Malaysian party. It's also the party members democratic rights to determine what the majority wants. So if the component parties are affiliated to racism, therefore we could conclude their members are. Because BN won majority yet again, therefore majority of Malaysians are racist? Funny how democracy works.
>> Update 1: Doesn't help Pakatan's political image right now with Kok and Tan Seng Giaw petitioning against the allegedly loud Azan. Ronnie Liu's incompetence in preventing another temple demolition is also a disgrace especially when it was the same ammunition used against Barisan in the last election.
I was told that the temple was built without permit and that is subject of another discussion.
Let's see Anwar abolish the so-called draconian act of parliament the ISA. Let's see him dismantle the New Economic Policy and create meritocracy if and when Pakatan wins the next election. He could call it Sept 16 agenda.
Sunday, September 28, 2008
The Real Astronaut
Not only the suit was locally designed, China has joined the big space club in a big way, proving that Asians have not just the dough, but also the brains. Sending a man in space is one thing, but moon walking is another. This was their third mission. No silly experiments done.
(From Utusan, 31st Jul 08)
Projects group 'should split from Defence'
>> We're not the only ones. Even the top 10 'cleanest' government fumbles here and there.
THE Defence Material Organisation, which manages defence projects worth $100 billion, should be separated from the Defence Department under a series of major reforms, a review has recommended.
If the Rudd Government accepts the key recommendations of the review chaired by businessman David Mortimer, the DMO would become an executive agency responsible to the Defence Minister rather than the Defence Department.
The case for the DMO to become an executive agency was first made by the 2003 Kinnaid review of defence procurement but was rejected by the Howard government.
Military Blunders (Programs that are cancelled, over budget or delayed)
Kaman Seasprite helicopters (Qty 11, Status: Cancelled in Apr, Cost to Taxpayers: $1.1B)
Navy's New Torpedoes (Cost $300M, Status: 3 yrs late)
RAAF Wedgetail airborne early warning and control aircraft (Qty 6, Status: 38 months late, $3.8B)
FFG Frigate upgrade (Qty 4, Cost $1.5B, Status: 4-1/2 yrs behind)
Land 121 - army's frontline trucks and trailers (Qty 2400, Status: 12 months late, $1.6B)
Army's ARH armed reconnaissance helos (Qty 22, $2B, Status: 2 yrs late)
Saturday, September 27, 2008
Abolishing ISA, Malay Rights and Other Things That People Blame The Government For
Because of the state of openness and somewhat freedom of speech, questions are being hurled about the NEP, Malay rights, ISA and even the Azan. While the NEP is a double-edged sword, we have to admit that a significant amount of people benefited from this, not just the Malays. Of course, some people would choose to keep a closed eye on that and the numbers. There are also Malays who have milked infinite riches from the special rights and now condemn the policy and its failure.
The Special Position of the Malays in the Constitution could be a poison also, especially for those who choose to take the path of least resistance and sell their precious contracts back to the Chinese. We all know that. As suggested by a senior Minister earlier, if we are ready to amend the Special Rights, only Parliament has the legal right to do so and that would reflect the will of the majority. Even the US has affirmative actions in their education system to ensure that a healthy percentage of non-Caucasians are admitted into universities because of their demographic disadvantages. The SAT is blamed to be biased for educated white folks and does huge injustice to the Latin and African Americans who were deprived of better education at an early age.
There is no doubt BN is in need of restructuring and major overhaul. We are seeing it transpire. Pakatan should just stop nitpicking and run their 5 states to prove to the people that they are worthy. I don't see much difference anyway. Wasn't a temple demolished under their watch in Ampang? It's easy to condemn - try doing it yourself.
My Reply to Jaredsdad> Hi, I hope you're doing your part not just as voter but a concerned individual to realize that not only race-based politics is real and alive in BN but also in Pakatan Rakyat. What does that say about both sides? I hope you're going down to the ground and listening out to grass root people. It's always comfortable to sit in our chairs and blog and whine about how racist certain individuals are and how corrupt the Government is and why you deserve more subsidies for petrol because we are an oil exporter, etc etc. If you're doing your part, that's great. At least you could appreciate the uphill battle.
On ISA and many other rules of the land, some are justified and some questionable. However, it is still an act passed in Parliament and only Parliament can decide to amend or suppress it. That is the essence of democracy, whether fair or not to some individuals. It is the will of the majority. Why hasn't Pakatan passed the motion in Parliament to amend or throw it out the window?
If BN is labelled as racist and they've been winning elections under the leadership of Tun Dr Mahathir for decades, then you are safely concluding that majority of Malaysians are racist.
There is nothing wrong with being proud of one's race. It is our identity. To be acknowledged as a Malaysian is also an identity (although identity these days is quite questionable seeing the massive fan base of English Premier League in Malaysia considering there's no real affiliation to the teams or the nationalities who represent the teams). Doesn't mean we throw out the keris or the sari.
Bravo Fellow Malaysians for Witty Comments and Wise Perspective of the World
"Dear Jihadists and Suicide Bombers,Can you think of some economic solutions instead of bombing and killing people, no matter how many people you've killed, they still remain poor and helpless.Or you can consider dedicating your entire life to serving the poor,let your good deeds outshine Mother Teresa's!Don't die for Allah when you can't even live for yourself!"
>> Clearly the issue in Palestine has always been about land and sovereignty than religion. How do you propose attacking a 300,000 well-armed troops equipped with sophisticated squadrons of Falcons and Apaches? Suicide bombing has been the preferred choice due to its low cost, high impact, the easiness of sourcing for components and its low casualty (on the user's side of course) rating.
Wars have been waged for centuries in the name of God since the Crusades and the Roman empire.
How do you propose these people should come up with economic solutions when they lack education, proper health care and even decent shelter?
Suicide bombing may paint a disgusting picture of desperation and lack of faith. However, it is not any less respectable than massive killings using carpet bombing and precision weapons.
Friday, September 26, 2008
Freedom of Speech Part 2
I was merely pointing out the picture of freedom of speech in a different manner.
"GUN lobbyist Ron Owen has been told he is entitled to express his homophobic views, but that he went too far with the bumper sticker: "Gay Rights? Under God's law the only rights gays have is the right to die."
Queensland's Anti-Discrimination Tribunal found Mr Owen guilty of inciting hatred against homosexuals with the bumper sticker when he parked his car outside the Cooloola Shire Council officers in Gympie, north of Brisbane.
The publisher of the ultra-right-wing pro-militia magazine Lock Stock & Barrel and former local councillor was also chastised on Monday for comments he made in the ensuing public outcry that engulfed the rural community.
The former president of the National Firearm Owners of Australia was taken to the tribunal by several local lesbians, who claimed they had been offended despite only one having seen the bumper sticker.
Two of the women were awarded $5000, with a third awarded $2500 in damages".
Should our courts compensate damages to the Gay community if we 'offended' them in a way? While we should have the right to speak about the wrong doings of the government and corruption in the upper echelon of societal food chain and the big blunders of financial institutions affecting tax payers money, there are issues that I don't think are open to discussion such as gay rights and child pornography. Therefore, if a legislation should be passed, a thorough study should be carried out to determine what constitutes the borderline for freedom of speech. Should we openly talk the merits of Islam versus why the other religion is wrong and vice versa (note that I said openly)? While the West is a big advocate of this, this is not the West and we have a different set of cultures and values. We are not the West. Advocates of freedom of speech cringe at this notion of not talking openly about religion and such. Then they would be the same people who can't say much if we talk about gay rights and child pornography, which should be a form of freedom of speech, don't you think?
Of Pegging and Freedom of Speech
UK Parliament in now discussing about passing a law that would prohibit anonymous blogging. The intent of blogging should also be clarified. I personally think freedom of speech is over-rated. We talk about the need for transparency and openness but we get offended when Denmark makes a mockery of Islam. We get offended with those who set up hate sites about Islamic extremists. If there is such a thing as freedom of speech, should we then let the homosexual communities voice their opinions in mainstream media? How about atheists, crackers and communists? Should they be allowed to voice their opinions? How about people who throw stones at you and hide their hands? Freedom of speech comes with responsibility and moral obligation and we all know how much maturity is shown especially in the comment sections of popular blogs and websites (perhaps the author should also introduce himself to the cyber world).
Wednesday, September 24, 2008
Statement by Tengku Razaleigh Hamzah
I write this as a Malaysian, as someone who, over forty seven years of political life, has had the privilege of playing some small part in the formation our country, the building of its institutions, and our achievement of a degree of economic sufficiency. I write out of deep concern about the present state of our country.
In the lives of nations as of individuals, there come moments of profound possibility, when the potential for self-transcendence and for self-destruction are simultaneously present.
As before some critical examination in our youth, we come to the daunting realization that we hold our future in our hands, when how we will fare many years hence, and whether we shall flourish or languish, will depend on how we conduct ourselves now, in this small window of time.
We are in a political impasse that threatens to metastasize into a Constitutional crisis. Political crises come and go, but the present crisis might well be the beginning of a cascade of failures leading to long-term instability and destruction.
1. Our impasse occurs at a time of heightened economic, political and security challenges. The global economy faces the prospect of a meltdown on a scale last seen in the Great Depression of the last century. As a trading nation, we are strongly exposed to its effects. Meanwhile, while we seem to have slept, the global economy is undergoing an epic transformation that we must either adapt to or are marginalized by.
2. This year's ground-shfiting General Election result signaled a public sentiment that cannot be ignored. Malaysians want fundamental change, and they want it now, whether from within the ruling coalition or from outside it. The Malaysian demographic has changed dramatically
over the last fifty years. We have seen the birth of a more sophisticated, demanding electorate that has rightly lost patience with incompetence and dishonesty.
3. The grievances of Sabah and Sarawak, which found only partial expression in the General Elections, remain unaddressed. This risks the very integrity of our Federation.
4. Misunderstandings over race and religion are ripe for political exploitation, with potentially disastrous consequences.
Post election promises notwithstanding however, the government now commands even less confidence than it did post March 8.
The public is in near despair over the prospects for change from within the ruling party. Rather than share the public's sense of urgency, our present office-holders have redoubled efforts to
frustrate renewal, cut off reform, and silence criticism. These efforts only underscore the weakness of the administration and its will to change.
We can no longer deny that in its present form, and under present leadership, the government, led by the party to which I have given my life, is now structurally and inherently incapable of providing the direction and confidence that the country needs, whether over the long or short term. The indications are there for all to see:
1. The government has been unable to respond to the economic crisis with even a basic plan of action. Business confidence has plummeted as capital flees the country. Our economic policy remains as uncoordinated and directionless as it has been in since the beginning of this administration.
2. The recommendations of two Royal Commissions of Inquiry have been ignored or watered down into insignificance.
3. In this context, Umno's constitutional provision for the renewal of its leadership by triennial elections might have been expected to provide some hope of renewal. Instead of embracing this opportunity, however, the leadership of the party has retreated into the fantasy world of a "transition plan" which rides roughshod over the party's constitution and the rights of its members. This risible attempt to treat public office and party trust as a private bequest between two individuals, one of whom wishes to hold office beyond his democratic mandate and the other to ascend without one, and the continuing effort to force feed the country with this notion, fools no one. Instead, and against background of rampant money politics, it kills the public's
hope of national renewal via Umno. Behind the babble about a "transition plan" the Prime Minister continues to be subverted by members of his own cabinet and subjected to thinly cloaked power plays to force his resignation.
This resort to a "transition plan" betrays a disturbing failure to grasp the meaning and purpose of public office. In the more mature society into which we aspire to grow, persons who demonstrate and moreover propagate such disregard for constitutional and democratic
process would long ago have been disqualified from public life, let alone from national leadership. The news appears not to have sunk in that the public rejects leaders who shun the open light of democratic contest in favour of staged plays and backroom plots.
Given Umno's core role in national politics, this is a dangerous state of affairs. Meanwhile the Opposition has made undeniable gains in the number of parliamentarians it commands. Beyond the hype and inflation, and regardless of whether Pakatan Rakyat now has "the numbers" to
command a majority, what we cannot doubt is that support for the governing majority continues to erode, and that this erosion continues so long as there is no hope of real change in the type of leadership Umno provides. There is now a credible threat that the present government may at some time fall by a vote of no confidence, or by some otherwise constitutionally legitimate demonstration of parliamentary majority. After fifty-one years of rule by a single party, this is not a possibility that is well understood. It is justifiably viewed with trepidation. Neither sheer denial on the one hand, or inflated claims on the other, help the situation.
To all appearances, we are beginning to lose grip of the rule of law. The use of the Internal Security Act and of Sedition Laws to target particular individuals further erodes the credibility of the government. Our actions exacerbate rather than calm the fear that stokes civil and racial strife. In the present context of a leadership struggle within Umno and against a strong Opposition it is impossible to dispel the notion that these extreme measures are calculated to
maintain certain individuals in power rather than to address verifiable threats to national security. Nothing does more to undermine the legitimacy of a government than plainly unjust acts. The ridiculous justifications given for some of these detentions has further undermined public confidence that the awesome powers of state are in safe hands.
We cannot afford to allow these disturbing trends to play out their destructive course while we suffer a de facto leadership vacuum, and while the rule of law is uncertain and the Constitution not upheld.
Against this background I appeal to all parties to come together in humility, beyond party politics, to hold an honest discussion, in the spirit of shared citizenship and with the gravest attitude of common responsibility towards a longsuffering rakyat, about what is happening
to our country and how we might agree together on a peaceful way beyond our impasse. We need to come together to find unity and direction out of this dangerous situation. In doing so, we might turn our crisis into an opportunity and renew our unity and sense of direction as Malaysia.
Tengku Razaleigh Hamzah
31 Jalan Langgak Golf
55000 Kuala Lumpur
Tuesday, September 23, 2008
The fate of RMC
In times of racial tension, the RMC must be promoted once again as the supreme school model for racial tolerance, eloquently incorporated and indoctrinated in its gruesome military curriculum for high school level education. The strict regime of the school must be re-enforced once again and parents who are faint-hearted to see their kids go through 'hell' must withdraw their kids from the premier school and not mistaken it for next door Sekolah Menengah Sungai Besi or the former Bukit Bintang Girls School.
The introduction of the International Baccalaureate system must be hastened to execute the national agenda of strengthening the command of English for young Malaysians. The RMC is also known as the national factory for high-calibre leaders the likes of Tun Ling Liong Sik, Tan Sri Ghanalingam, Dato' Sri Radzi Sheikh Ahmad, Dato' Michael Yam, Tan Sri Halim Ali, scores of 4-star generals, high-ranking civil servants and corporate chiefs.
The Board of Governors must be reconvened and its member must be made responsible for the development of the new campus and its new policies and vision. If the chiefs of all 3 services and Mindef Secretary General take this as low priority, then the RMC shall perish as a successful system, created in 1952 to be part of nation building in producing future leaders. Even the late Tunku Abdul Rahman and Tun Abdul Razak used to chair the Board of Governors meeting, and such is the importance of RMC in the old days.
Sunday, September 21, 2008
Big blunders. What are the immediate remedies?
2. After the loss of Pulau Batu Putih or Pedra Branca, it remains to be seen what the fate is for Pulau Pisang. Singapore has been operating the light house for decades. Are we to lose another island (this is would be a monumental loss, all 154 hectares of it) to Singapore. Johor MB Dato' Sri Abdul Ghani said that Johor has strong proof of Malaysia ownership.
3. What are the financial exposures to Malaysia after the collapse of AIG and Lehman Brothers and the huge Federal bail out amounting to USD700B? Meanwhile, Temasek has been purchasing interests in Meryll Lynch. Does this merit further scrutiny?
4. It's weird that the first highlighted story on the Edge Daily was the release of Teresa Kok from ISA. What does that have to do with Finance?
5. After the humiliating bluff to form the new Federal Government on Sept 16th, now Pakatan Rakyat is seeking audience with the Agung to propose the formation of a new government with the list of soon-to-defect BN MPs. If Pakatan Rakyat claims it has mass national appeal, why can't it wait for the next election? Do Malaysians really want another snap election? Don't we have a financial crisis to tackle and a new Finance Minister to support?
6. What would be the fate of CTRM and other agencies making huge financial blunders based on the recent Auditor General's report for 2007?
from the Edge 8th Sept:
"One of the most damning examples of flawed governance in the report is perhaps that involving Composite Technology Research Malaysia SB (CTRM). This entity, in which the govt has 90% equity worth RM117.8M, is in the business of designing and manufacturing aircraft components, and marketing and maintaining aircraft.
Among CTRM's investments, one in the US-based Columbia Aircraft Manufacturing Corp (CAMC), in which the Minister of Finance Inc took a controlling stake in 2002 when the company was experiencing financial difficulties, is of particular interest.
As at Sept 2007, the report states, the govt of Msia had spent US149.42M (RM537M) in the form of investment and loans in CAMC. However, the govt failed to achieve its investment objective in the aircraft manufacturing company due to weaknesses in the mgmt of CAMC, extravagant expenditures by its top mgmt, the failure of CAMC board of directors to address aircraft manufacturing issues immediately and lack of monitoring by officers from MOF.As a result, it notes that CAMC suffered accumulated losses totalling US132M as at end-2006. Due to heavy debts, the company on Sept 24, 2007 filed for bankruptcy in the Oregon court.
Consequentyly on Nov 27, 2007, Cessna, a two-seater aircraft manufacturing company, bought CAMC for only US16.5M. Out of this, US7.33M was
paid back to the govt of Malaysia".
Saturday, September 20, 2008
The Lesser of Two Evils (Update 1)
"It is by far the longest general election in the history of Malaysia" as how a friend of mine eloquently puts it. We have cast our ballots in March and we were hotly reviewing the prospects of members of parliaments jumping ships by Sept 16th (DSAI did not mention what year). It was covered extensively in our favorite dailies. Forums and blogs had a plethora of issues and virtues to comprehend and debate. That day passed and life went on for everyone. DSAI had deceived Malaysians yet again. As if it were an adaptation from V-for-Vendetta, he had a date, the masks, the followers, the anticipation, the anxiety, the thrill......but no bomb. Did the summer camp in Taiwan for agriculture enthusiasts do its trick or it was not meant to be?
Perhaps many were hoping for this day because of the disgusts in UMNO politicians as apparent in the so called alternative media (no longer alternative i suppose!). The stereotype is still saturated in their minds. UMNO is still dubbed as the path for the lust of power and money. Election analysis concluded that many young Malaysians voted against the current regime. The keris and the broom made huge impacts on posters and banners. 5 states and 1 territory decided it was time to change.
The question that is begged to be asked is whether it has made any difference in those 5 states. Have the efficiency and 'transparency' increased in the state managements? Have you felt a sudden burst of change in your constituency that it constitutes an absolute gift from heaven itself? Or are your wakil rakyat embroiled in taking over the country by defection of BN MPs and nitpicking previous administration's foil and follies. Some are definitely rookies with zero experience in politics. Has it been better for you? Come 2013, will you pick an inexperienced rookie with a clean slate or a seasoned politician with questionable financial status? Should the rookie be retained for the next 5 terms, would he eventually morph into that seasoned politician we once despised?
The race for all posts including the UMNO presidency is now the hot topic. Beginning 9th Oct, all 192 divisions will commence their meetings to nominate their candidates of choice from top to bottom. Many have labeled the current PM as weak and ineffective as commander-in-chief, others hail him as the champion of liberty and reforms. There are quarters questioning DS Najib's potential and capabilities if he were to become PM despite his vast experience since the late Tun Razak passed away. A branch in Pekan Division had earlier presented their proposal to the division to nominate DS Najib as numero uno. In the end, it would be up to the delegates to decide. Some may say that delegates do not represent the taste and will of the majority of 3 million strong memberships. Then again, these delegates will be elected, so it would be the wish of the majority, some what.
Let's now analyze the race for Ketua Pemuda Malaysia. Dato' Mukhriz had a good start with his direct comments about the current presidency. Many young professionals outside of UMNO admire his guts and wish for change, thus his motto "Berani Berubah" (to be courageous for change). Added to his resume is his father's direct influence, the political immortal Tun Dr Mahathir. He garnered the highest votes during last election for the Exco seat.
KJ, the next candidate, needs no introduction. As PM's son in law, he is both controversial and aggresive. He is also gaining significant support within the ranks. His oratory skills and confidence level are widely known strengths, backed by a legion of high performing young professionals. His campaign buzz word is "Setiakawan" (Loyalty among friends).
Enter the next candidate, DS Khir Toyo, former Selangor Menteri Besar. Has been in gear 7 in campaigning. For him, it boils down to simple, plain, practical, good ol' Malay politics. He has, by far, the widest experience among the 3 strong candidates. There is no motto for this veteran, just hard campaigning to woo the young delegates. Some loyalists said vote for him if you don't want the other candidates. His Achilles's heel will be the loss of the state to the hands of the Opposition but he is no doubt ready with an answer and it's tough to beat that answer. His blog has breached the 1-million mark. Who said he's not popular?
In national politics 6 months ago, it was about choosing rookie candidates and not BN. In the upcoming UMNO election, it will be the test of choosing the lesser of two evils. I could be wrong.
Oh, forgot to mention the 4th candidate.
Friday, September 19, 2008
The New Malay Dilemma
By former Prime Minister Dr. Mahathir Mohamad on
Malays remaining behind others despite privileges.
The Malays are among the few people whose race is legally defined. Thus, the Malaysian Constitution states that a Malay is one who habitually speaks Malay, professes the religion of Islam and practises Malay customs. There is nothing said about the definitive culture of the Malays. It follows that changes in culture do not make a Malay person a non-Malay.
Culture is made up largely of the value systems accepted, even if not actually practiced by a people or a race. Observations have shown that the culture of a people determines whether they are successful or they fail...
Europeans, Asians, Africans and American Indians can all be successful and can all fail. It is, therefore, not the race or ethnicity which determines success. It is the culture.
When I wrote The Malay Dilemma in the late 60s, I had assumed that all the Malays lacked the opportunities to develop and become successful. They lacked opportunities for educating themselves, opportunities to earn enough to go into business, opportunities to train in the required vocation, opportunities to obtain the necessary funding, licences and premises. If these opportunities could be made available to them, then they would succeed...
But today, the attitude has changed. Getting scholarships and places in the universities at home and abroad is considered a matter of right and is not valued any more. Indeed, those who get these educational opportunities for some unknown reason seem to dislike the very people who created these opportunities. Worse still, they don't seem to appreciate the opportunities that they get.
They become more interested in other things, politics in particular, to the detriment of their studies. In business, the vast majority regarded the opportunities given them as something to be exploited for the quickest return...
They learn nothing about business and become even less capable at doing business and earning an income from their activities. They become mere sleeping partners and at times not even that. Having sold, they no longer have anything to do with the business. They would go to the government for more licences, permits, shares, etc...
Why has this thing happened? The answer lies in the culture of the Malays. They are laid-back and prone to take the easy way out. And the easy way out is to sell off whatever they get and ask for more. This is their culture.
Working hard, taking risks and being patient is not a part of their culture. It should be remembered that in the past the Malays were not prepared to take up the jobs created by the colonial powers in their effort to exploit the country. Because the Malays were not prepared to work in rubber estates and the mines, the Indians and Chinese were brought in. At one time, the migrants outnumbered the Malays. Had they continued to outnumber the Malays, independent Malaya would be like independent Singapore.
But the Malays have apparently learnt nothing from the near loss of their country in the past. Today, they are still unwilling to work and foreign workers are again flooding the country. And because they are not equipping themselves with the necessary education and skills, they have continued to depend on others.
Their political dominance will protect them for a time. But that dominance is fading very fast as they quarrel among themselves and breaks up into small ineffective groups. Their numerical superiority means less today than at the time of independence...
The Malays, together with the other Bumiputeras, make up 60 per cent of the country's population. But in terms of their political clout, it is now much less than 60 per cent. They are now more dependent on non-Malay support, both the government party and the opposition.
Economically, of course, they have less than half the 30-per-cent share that has been allocated to them. If we discount the non-Malay contribution to the nation's economy,Malaysia would be not much better than some of the African developing countries.
To succeed, the Malays must change their culture. They must look towards work as a reward in itself. They must regard what they achieve through work as the true reward. There should be some financial reward but this must not outweigh the satisfaction obtained from the result of their work...
Changing culture is far more difficult than changing the policies of government. It is easy enough to propose affirmative action but it is not easy to implement it. The recipients must have the right attitude if the results are going to be obtained...
Unfortunately, their view is that their crutches are symbols of their superior status in the country. The sad thing is that they are not even using the crutches properly. As a result, they gain nothing or very little from the availability of these aids...
So what is the new Malay dilemma? Their old dilemma was whether they should distort the picture a little in order to help themselves.
The new dilemma is whether they should or should not do away with the crutches that they have got used to, which in fact they have become proud of.
There is a minority of Malays who are confident enough to think of doing away with the crutches, albeit gradually. But they are a very small minority. Their numbers are not going to increase any time soon. They are generally regarded as traitors to the Malay race...
There will be a host of protests over this generalisation about Malay attitudes. We read almost every day about blind Malay people and other handicapped Malays graduating with university degrees or driving cars or doing all kinds of work.
This does not prove that the generalisation that I make is wrong. These are exceptions. They only prove that if the right attitude or culture is adopted, even the handicapped can succeed.
The dilemma faced by those few who want to build a strong, resilient and independent Malay race without crutches is that they are most likely to end up becoming unpopular and losing the ability to influence the changes in the culture and the value system which are necessary.
It seems that they should not try and yet they know that without the cultural changes, the Malays are going to fail.
By Mahathir Mohamad
Wednesday, September 17, 2008
Hurricane Ike Aftermath
Districts | Lake Jackson | Lake Charles | Lafayette | Houma | New Orleans | Total |
Platforms Evacuated | 84 | 113 | 119 | 99 | 83 | 498 |
Rigs Evacuated | 9 | 14 | 14 | 20 | 14 | 71 |
| | | | | | |
Oil, BOPD Shut-in | 69,367 | 35,263 | 160,059 | 433,645 | 565,396 | 1,263,730 |
Gas, MMCF/D Shut-in | 1,200 | 816 | 1,211 | 992 | 2,012 | 6,231 |
After speculators offloaded some USD 39B worth of funds from crude futures market, the price of crude continues to plummet despite Gustav and Ike's touch of god.
Sunday, September 14, 2008
ISA dan Pakatan Rakyat
"Kami berharap tindakan kerajaan ini bukan merupakan percubaan awal untuk menangkap lebih ramai ahli politik pembangkang dengan tujuan menggagalkan usaha Pakatan Rakyat membentuk kerajaan dalam masa terdekat," kata kenyataan itu.
> Saya pasti dengan penahanan Teresa Kok yang dituduh menghina Islam tidak akan menggagalkan usaha PR membentuk kerajaan dua hari lagi. Bukankah 30 orang MP nak melompat dua hari lagi? PAS juga tak konsisten. Mula2 menggunakan orang bukan Islam untuk bertanding atas tiket PAS. Sekarang membangkang penahanan ISA ini atas sebab BN ingin menakutkan parti pembangkang tetapi tidak menyebut pula bahawa apa yang Teresa Kok buat itu wajar atau tidak (atau pun Tan Seng Giaw di dalam blognya, kononnya azan terlalu bising di Kepong). Selepas itu membuat mesyuarat secara senyap dengan UMNO demi perpaduan orang Melayu. Tambahan lagi dikelar oleh rakan DAP kerana ingin menubuhkan negeri Islam di Kedah! Yang hairannya juga, sejak ahli2 Parlimen PR di Parlimen untuk beberapa bulan lamanya, tidak ada yang membentangkan usul untuk menghapuskan ISA kerana nak tak nak, ianya satu akta yang diluluskan di Parlimen. Mungkin saya ketinggalan atau mungkin mereka nak pakai ISA untuk menangkap orang2 BN pula setelah membentuk kerajaan baru dua hari lagi!
Dulu, YB Salahudin dan Dewan Pemuda PAS menggesa agar konsert Avril dibatalkan. Sebelum ini konsert Inul juga didesak dari pelbagai pihak untuk dibatalkan. YB Salahudin, yang telah berjaya mengumpulkan kononnya satu juta orang ramai untuk demonstrasi memang pakar berdemonstrasi dan berkonsert. Jika ini dianggap elemen2 yang merosakkan, maka YB perlu memboikot saluran MTV dan sebagainya. YB juga perlu mendesak semua hotel2 membatalkan pertunjukan 'live band' yang menampilkan artis2 yang memakan pakaian yang terdedah dan sebagainya.
Senator Dato' Zaid pula menggesa Tan Sri Muhyiddin supaya meletakkan jawatan sekiranya beliau tidak setuju dengan tarikh peralihan kuasa. Kenapa beliau tidak memberi ulasan mengenai kenyataan Timbalan Perdana Menteri? Beliau pula nak letak jawatan kerana tidak setuju dengan penggunaan ISA. Bila nak letak jawatan? Katanya, beliau juga 'bosan' kerana di Bahagian pun tak dapat pencalonan.
Tentang azan ini, dah lama dipertikaikan. Orang2 di Kepong, Kg Tunku dan tempat2 lain telah membuat petisyen untuk menghapuskan azan di kawasan mereka. Petikan dari blog Tan Seng Giaw:
"As with all Muslim suraus, the prayer room at Taman Aman Putra, has five muezzin's calls for prayers a day, 365 days a year. In our multireligious society, all people must accept religious practices and traditions of various religions, including the calls for prayers. Those who do night shifts and young children would appreciate if the volume of the early morning calls can be turned down".
"DAP National Deputy Chairman and MP for Kepong Dr Tan Seng Giaw urges the Malaysian Department for the Advancement of Islam (Jakim), Prime Minister's Department, to interpret the meaning of azan (a Muslim call for prayer by a muezzin) in the Koran.
A religious issue is often very sensitive, more so in a multi-religious society such as Malaysia. Hence, we have to handle it with extreme care.
On 27 September, 2005, I spoke in the House on the complaints by non-Muslims of azan being too loud especially the call at dawn. Then, some newspapers carried the news with titles such as 'People should not raise the azan issue' (Bertita Harian)."
> Yang hairannya orang Islam sekarang takut bersuara. Mana taknya, sehinggakan di persatuan2 alumni pun tak pertikaikan apabila membuat bar untuk minuman keras di bangunan alumni. Mungkin sebab orang2 Islam sekarang lebih liberal. YB Zulkifli yang menegakkan agamanya dikeji oleh rakan2 seperjuangan apabila Majlis Peguam mengadakan forum terbuka mengenai memeluk agama Islam. Ramai sangatkah orang2 di Malaysia yang bermasalah tentang penganutan Islam?
Kalau berlaku lagi insiden May 13, bukan kerana kerajaan yang menghasut, tetapi sememangnya masyarakat Malaysia sudak tidak bertoleransi.
Matematik dan Sains Dalam Bahasa Inggeris
KUALA LUMPUR 13 Sept. - Menteri Pelajaran, Datuk Seri Hishammuddin Tun Hussein diminta meletak jawatan jika gagal melaksanakan semula pembelajaran Sains dan Matematik dalam bahasa Melayu.
Cadangan itu merupakan keputusan yang dicapai pada Persidangan Meja Bulat Pertubuhan-Pertubuhan Bukan Kerajaan Melayu dengan alasan bahasa Inggeris gagal membantu murid-murid menguasai sains dan matematik.
Ahli Jawatankuasa Gabungan Persatuan Penulis Nasional (Gapena), Prof. Datuk Dr. Zainal Kling berkata, daripada analisis Ujian Pencapaian Sekolah Rendah (UPSR) 2007, hampir 30 peratus pelajar Sekolah Kebangsaan (SK) dan Sekolah Jenis Kebangsaan Cina (SJKC) gagal Bahasa Inggeris.
> Kerana 30 peratus gagal dalam Bahasa Inggeris, Prof Datuk Dr Zainal menggesa supaya polisi ini dihapuskan. Bukankah kita patut menggalakkan mereka bertutur lebih sehingga fasih? Daripada komen rakan2 di dalam bidang perguruan, saya akui bahawa ramai guru yang masih memerlukan latihan untuk mengajar. Saya juga akui sejak implementasi polisi ini, lebih ramai yang ketinggalan. Bukankah ini menunjukkan anak2 murid kita lebih cepat putus asa dan tidak menunjukkan daya saing yang jitu untuk menghadapi cabaran2 selepas persekolahan? Patutkah kita melihat lebih ramai anak2 muda yang tidak mendapat pekerjaan kerana sering gagal temubual disebabkan limitasi penguasaan bahasa Inggeris?
> Anak2 muda kita juga sering kali kurang keyakinan apabila memberi ucapan dan sebagainya. Ini kerana budaya "Show and tell" tidak diterapkan dari awal.
> Orang Melayu dah jauh ketinggalan dari bangsa2 lain. Apabila disuruh lari, kata penat. Bagaimana nak kejar bangsa2 lain? Bila ketinggalan, salahkan dasar kerajaan dan sebagainya. Bila hak istimewa tercabar, marah.
> Saya menunggu implementasi Bahasa Inggeris sebagai medium ajar di sekolah2 terpilih seperti Maktab Tentera Diraja, Kolej Melayu Kuala Kangsar dan Kolej Tunku Kursiah. Katanya ketiga2 sekolah ini berhasrat untuk menjadi pusat International Baccalaureate, yang mana medium pengajaran seharusnya dalam Bahasa Inggeris mengikut piawai antarabangsa. Kolej Melayu tu!
> Yang peliknya, berita ini dilaporkan Utusan Melayu dalam segmen "Politik"!
Saturday, September 13, 2008
Transition plan
Friday, September 12, 2008
May 13
May 13 is quite an event for the last few decades. Racial sentiments are boiling close to the point of no return. I know a lot of people in UMNO are working hard to fix this. I also know a lot of people who think that it is mission impossible, that the mindset and cultural sentiments in UMNO members are embedded too deep, it can't be rooted out. I also know a lot of my friends are with the Opposition front because of the stereotypical UMNO image of being interested in only projects and power. What ever positions you take, you're damned if you do, you're damned if you don't. That is the downside of taking a side. Some play safe by just playing up sentiments and sit comfortably on the fence. There are also Malays questioning about Malay rights and the Opposition is accusing UMNO of using this as a unity cause. Lots of blogs are writing about who's right and who's wrong. BAR council is also making hay while the sun is shining.
All I know is this: while we are fighting amongst ourselves, we are being taken advantage of. And that is very obvious. We will become like the Middle East if our leaders of all levels can't stand firm and make smart decisions. And please reject the posers who have reaped so much benefits and at the same time take pot shots. Seperti kacang melupakan kulit.
How will Malaysians look at us 40 years from now.
Wednesday, September 10, 2008
Full blown Minister
- So Senator Zaid Ibrahim will soon be made a full-fledged Law Minister. What does "full blown minister" mean? Will he have with own ministry? How does this ensure a reform will be in order and how will this jive with the AG's chambers and judiciary branch? Meanwhile, in KB, he has managed to garner 16 nominations and is in need of 8 more to qualify contesting for the Division Chief seat. The acting Division Chief, Datuk Mohd Fatmi Che Salleh has 87 nominations.
- TDM will rejoin UMNO to back Ku Li for the presidency. It will be interesting to observe how this would affect the upcoming UMNO election and whether people dare to embrace change, whatever that change entails.
- On teaching math and science in English: there is indeed strong opposition to this policy. We all want the best of our kids. Of course there are flaws in the execution, i.e. incompetent teachers, lack of interest, rural boys struggling to cope, etc, etc. Despite all its flaws and short comings, it is still a noble policy to get our kids up to speed. If we are behind and we are crawling, how are we to catch up with the other race? I'm happy to note that RMC has decided to adopt english as the teaching medium in the proposed International Baccalaureate program, set to commence in 2010.
- I was on Federal Highway heading to Shah Alam yesterday when I noticed some of our Jalur Gemilang flags, supposedly decorative articles for National Day, were on the ground and the ones still hung on the poles were obviously stained from exhaust fumes and dust. Back in the old days at RMC, we were always trained to care for our flags. I've never seen one anywhere close to the ground. I'm not sure how the general public feels about it but it's a shame.
- Puspakom will soon terminate 23 employees after the nation-wide blitz by ACA recently. Shouldn't they be prosecuted in court instead?
- Anwar finally admits Sept 16 may not happen. Perhaps he forgot to mention what year.
DRILLING ENGINEER/ SUPERVISOR IN LIBYA, GERMANY
Company Name: | Sofomation Pte Ltd. |
Job Category: | Engineer - Petroleum |
Education Level: | Some College |
Req'd Experience: | 6+ years |
Desired Expertise: | Drilling Engineering |
Location: | Libya, Germany |
Job Description:
Opening is in Libya Overall Job Purpose The incumbent will provide technical support to the Opco?s and new business development teams, including implementation of a step-change in the acceptance and application of new production technologies and work practices for Wintershall operated projects. Breakdown of Duties:
Person Specification Engineering graduate with at least 8 years relevant international experience in the E&P business, with emphasis on drilling and workover technology, including supervisory, planning and design activities. Essential to be able to work effectively as part of a team, having first-class inter-personal, communication and motivating skills. Fluency in English is a must. Click here to apply. |