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Dr Mahathir turns on the charm towards the Japanese now

Rogue Trader

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Be like the Japanese and Malaysia will succeed: Mahathir
11 Jun 2018 09:42AM (Updated: 11 Jun 2018 09:50AM)
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TOKYO: Malaysia's Prime Minister Mahathir Mohamad said on Sunday (Jun 10) he was convinced that his country will be successful like Japan provided that Malaysians possess the same Japanese work ethics.

He was speaking to Malaysians during a three-day working visit to Japan - his first overseas trip since entering office - that included attending the 24th International Conference on the Future of Asia, or Nikkei Conference.

Dr Mahathir said when the Look East Policy was first formulated when he was prime minister back in the 80s, it was not just about drawing investments from Japan or going to study in the country.

"It's about acquiring also the Japanese work ethics, the Japanese sense of shame whenever they fail to deliver what they have promised to deliver," he said.

The prime minister also shared with some 250 people present at the dinner about what the government was doing to rehabilitate Malaysia from a debt of some RM1 trillion.

Elaborating on what he admired about Japan, Dr Mahathir recounted the story of what he saw in Japan when he first came to the country back in 1961 – a country destroyed by war.

"I watched the Japanese people work and work very hard to rebuild their country, and sure enough the result was that Japan very quickly became one of the biggest economies in the world. From a defeated country, a destroyed country, Japan was able to rebuild itself at a fast rate and effectively.

"I found that why the Japanese succeeded in rebuilding their country was due to their work ethics, their value system. If you have the wrong way of working, if you are not hardworking and you don't take pride in your work, you will fail," Dr Mahathir said.

He said the Japanese took pride in making high quality products that were able to compete successfully with those produced by other countries.

"But in Malaysia we don't have this value system, we don’t feel ashamed if we come up with sloppy products which are of poor quality ... whether what you do is good or not does not seem to matter," he said.

Touching on other matters, Dr Mahathir said the government appreciated the gesture by Malaysians to help the government reduce the debt level through the special fund set up for this purpose.

The government would do its best to resolve the financial situation without hurting the country, he said, adding that it would take some time to put everything in order as it would not be an easy task.

Unlike before, he said, money would not simply be disbursed to everybody and that financial assistance would be targeted at those who were eligible.

"We don't want to inherit bad habits," he said, adding that there was no room for hanky panky including in the private sector under his administration.

Dr Mahathir underlined that efforts to eradicate graft was a priority of his government.

"If corruption is eliminated, we can save some 30 per cent of our money with which we can do many other things," he said.

Source: Bernama/mn
 

Rogue Trader

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WORLD NEWS
JUNE 10, 2018 / 4:34 PM / A DAY AGO
In Mahathir's Malaysia, Japan is back amid doubts over Chinese funding
Praveen Menon, Anshuman Daga
5 MIN READ

KUALA LUMPUR (Reuters) - Malaysian Prime Minister Mahathir Mohamad is set to woo investors and offer business deals during a trip to Japan that starts on Sunday, as he looks to cover a gaping debt hole and shift the country away from dependence on Chinese investments.

FILE PHOTO: Mahathir Mohamad speaks during a news conference following the general election in Petaling Jaya, Malaysia, May 10, 2018. REUTERS/Lai Seng Sin/File Photo

The visit marks his first foreign trip after returning to power in a shock election result last month, and indicates a shift back to the 92-year-old’s ‘Look East’ policy to strengthen ties with east Asia, especially Japan.

It is also seen as a sign of the Southeast Asian country’s move away from China, which contentiously pumped billions of dollars into the scandal-tainted previous Najib Razak administration. The new government has said some Chinese companies are now under suspicion of being used to cover up the graft scandal at state fund 1Malaysia Development Berhad (1MDB).

“The previous government may have engaged Japan, but certainly not with the enthusiasm it had for China,” said Shahriman Lockman, a senior analyst with the Institute of Strategic and International Studies.

Malaysia’s cash-strapped government could look to tap Japan’s vast pool of low-cost capital, while potential stake sales in Malaysian state-linked companies could be investment targets of Japanese companies, said bankers involved in cross-border deals.

Mahathir had already agreed to attend the annual Nikkei conference on Asia before winning the elections, but will now also meet Prime Minister Shinzo Abe and senior officials during his three-day visit.

“The fact that he chose to stick to his plans to attend the conference does say something: it will doubtless provide an opportunity to rejuvenate Malaysia-Japan ties,” said Shahriman.

Mahathir has pulled out of a high-speed rail project with Singapore and is reviewing a $14 billion local rail line to be built by Chinese companies.

Malaysia’s foreign ministry said in a statement that Mahathir’s visit would enable Malaysia to highlight its current policies toward Japan and other countries in the region, especially related to foreign investments and trade.

“With the comeback of Tun Dr Mahathir, I’m sure our industries will be very delighted to think positively of their engagement with Malaysia and its industries,” Makio Miyagawa, Japanese Ambassador to Malaysia told state news agency Bernama.

Japan is Malaysia’s largest foreign direct investment contributor at $13 billion last year, Bernama said.

ON THE HOOK
Mahathir has accused Chinese state-linked firms of inflating deal costs, engaging in corrupt practices, and even conspiring in the cover up of the 1MDB scandal.

He’s sending the finance minister and anti-graft agents to China this week to investigate discrepancies in a bilateral gas pipeline deal. These billion-dollar deals, and a growing presence of Chinese construction workers and entrepreneurs, have spooked Malaysians.

“Mahathir probably wishes that he could run a scalpel through those incredibly costly projects that involve Chinese companies,” said Shahriman.

But moving away won’t be easy, given the decades of strong ties and about a hundred billion dollars in bilateral trade, Shahriman said.

Ties between Malaysia and China peaked in the last few years after Beijing stepped in with a $2.3 billion deal to buy 1MDB assets. This was followed by several infrastructure projects which were won by Chinese state-linked firms.

Financial industry executives expect Japan to accelerate its pace of investment in Malaysia under the new government.

“Malaysia is a market the Japanese find easier to invest in. The way Malaysian firms operate their business, the legal set-up - all this is something the Japanese are comfortable with,” said the regional head of investment banking at a Japanese bank, who was not authorized to be named.

He expects interest in the financials sector, namely banks and insurers. Mahathir is scheduled to meet top officials from Nomura Securities and Sumitomo Mitsui Banking Corporation, among others.

Reporting by Praveen Menon and Anshuman Daga; Additional reporting by Elaine Lies in TOKYO
 

eatshitndie

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that's the right thing to do. play japs against the tiongs. threaten to give hsr portion of kl to jb (no sg) to japs and tiongs will tolong tolong and offer a substantial discount. otherwise, if tiongs know it's in their bag they will jack up price and take advantage of ml as a sucker. it will also make prc malu. prc losing face is damn shiok. like to see eleven laosai and cry his heart out, begging on his knees like he did to kim jong un. "please, please don't go."
 

Rogue Trader

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that's the right thing to do. play japs against the tiongs. threaten to give hsr portion of kl to jb (no sg) to japs and tiongs will tolong tolong and offer a substantial discount. otherwise, if tiongs know it's in their bag they will jack up price and take advantage of ml as a sucker. it will also make prc malu. prc losing face is damn shiok. like to see eleven laosai and cry his heart out, begging on his knees like he did to kim jong un. "please, please don't go."

China will just chop off this cancerous part of SEA and build the Kra canel. Like any gangrenous lump, Mudlaysia and Sinkapore will soon turn black and drop off the map

map-of-the-shipping-route-through-kra-canal.png
 

eatshitndie

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China will just chop off this cancerous part of SEA and build the Kra canel. Like any gangrenous lump, Mudlaysia and Sinkapore will soon turn black and drop off the map

map-of-the-shipping-route-through-kra-canal.png
not gonna happen. thais are fighting an insurgent war in the south and they will tell tiongs to fuck off.
 

syed putra

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Thais don't need china to build the kra canal.
More japanese invest in thailand than chinese due to cultural similarities.
China prc like malaysia more due to cultural and lingual similarities.
Xi jinping and his cabinet must stop behaving like lords over smaller south east asian countries.with dr m back, i think they will now find a leader with a voice to speak out their grievances.
Laos, a small landlocked country now with hsr being built, will soon find themselves with debt they cannot pay. Population of vietienne only a few hundred thousand. How to get the numbers to board the trains to kunming?
 

halsey02

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This is not the first time he had been romancing the Japanese, years ago, when he was then the PM, the Japs extended credit to his government , don't think that had been fully paid. The NS Highway loan & whatever loans the Arab Banks Consortium had extended, don't think that had been fully paid too. For example, the highway financing started I think somewhere ' 89, '90 or '91...say 30 years repayment...that means to be repaid by 2020 or 2021. The Japs & the Arabs would be more cautious now...
 

zhihau

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For example, the highway financing started I think somewhere ' 89, '90 or '91...say 30 years repayment...that means to be repaid by 2020 or 2021. The Japs & the Arabs would be more cautious now...

Around the same time Sinkies kenna "CLOB"... :mad::mad::mad:
 

halsey02

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Around the same time Sinkies kenna "CLOB"... :mad::mad::mad:

CLOB...was Dr.M, masterstroke getting KLSE to pull the plug!!...by changing the by-laws & the Asing Nominees Account Rules...mee siam mai hum, thought he was smart & clever...didn't expect the old fox, has 'cards up his sleeve'.

Now, he is having a second encounter with that same old fox...by visiting him in that Batik shirt...in which the old fox, take a look & must have remarked..." how gaudy". Despite labelling themselves, best of the lot, one of kind or..whatever....their flaw is, they are easily floored by people that are street smart..time & time again...& this would not be the first time.

The next episode will be getting themselves into a 'spicy situation' with Kimchi Bui Kia KIM...they will be 'romancing' NK soon..another black hole!..if they are not street smart!.
 

Rogue Trader

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not gonna happen. thais are fighting an insurgent war in the south and they will tell tiongs to fuck off.
Easy. The Thai junta government can just claim the Patani area is full of al Qaeda terrorists and go in to finish them off with international support
 
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