Straits Times
Oct 16, 2015,
[Note the date of this news article. The Johor Sultanate has been entertaining the idea of secession from the Federation even as early as 2015. And probably before. It may not be the most feasible option, but it is clearly not unthinkable. But why am I putting this old news out now?]
KUALA LUMPUR - Johor has a right to secede from Malaysia if there is a breach of the terms agreed upon at the time of its membership to the Federation of Malaya, crown prince Tunku Ismail Ibrahim has said in a new interview.
In the interview with local football portal FourthOfficial, the prince said that as future Sultan of Johor, his duties were towards the state and its people before Malaysia, reported The Malay Mail Online.
"In fact, we only joined the Federation of Malaya upon both parties agreeing to several basic terms. And if any one of those terms are breached, we have every right to secede from this country," Tunku Ismail said.
Thursday, June 28, 2018
Hyflux’s Tuaspring plant: The ‘noose around the neck’ that needs to be sold, but can it be done?
The loss-making desalination and power plant has been an impediment to Hyflux’s earnings and the clock is ticking for a buyer to be found.
By Tang See Kit
27 Jun 2018
ChannelNewsAsia
SINGAPORE: Costing more than S$1 billion to build, the Tuaspring Integrated Water and Power Plant was the landmark project that marked water treatment icon Hyflux’s foray into the energy business in 2011.
Hailed as the first water plant in Asia to be integrated with a power generator, it was expected to boost efficiency levels and reduce desalination costs among other things.
But for all the ambitions that it embodied, the Tuaspring project struggled to turn a profit and according to some market observers, eventually became the “noose” around Hyflux’s neck.
With the company under a court-supervised process to reorganise its liabilities and business, the need to divest a part or the entire stake in its single largest asset has become even more pressing.
At the court hearing on Jun 19 for its application of a six-month moratorium, Hyflux’s lawyers from WongPartnership stressed that Tuaspring still holds “significant value” and time was what the company needed to seal a deal for no less than a book value of S$1.3 billion.
By Tang See Kit
27 Jun 2018
ChannelNewsAsia
SINGAPORE: Costing more than S$1 billion to build, the Tuaspring Integrated Water and Power Plant was the landmark project that marked water treatment icon Hyflux’s foray into the energy business in 2011.
Hailed as the first water plant in Asia to be integrated with a power generator, it was expected to boost efficiency levels and reduce desalination costs among other things.
But for all the ambitions that it embodied, the Tuaspring project struggled to turn a profit and according to some market observers, eventually became the “noose” around Hyflux’s neck.
With the company under a court-supervised process to reorganise its liabilities and business, the need to divest a part or the entire stake in its single largest asset has become even more pressing.
At the court hearing on Jun 19 for its application of a six-month moratorium, Hyflux’s lawyers from WongPartnership stressed that Tuaspring still holds “significant value” and time was what the company needed to seal a deal for no less than a book value of S$1.3 billion.
How Adam Smith would fix capitalism
Often misread as a prophet of laissez-faire, the father of modern economics would have radical remedies for the 21st century
Jesse Norman
June 22, 2018
Capitalism in flames, populism and nationalism on the march across Europe, a US president bent on demolishing free trade, a British shadow chancellor calling openly for the overthrow of capitalism itself . . . the 21st century is not going to script.
The market system from which global prosperity has emerged over two centuries is now under attack from all sides, its basic legitimacy assailed from the right by critics of unfair competition and crony capitalism, from the left by campaigners against inequality and “market fundamentalism”.
More than any other, the Scottish political economist and philosopher Adam Smith stands at the centre of this ideological battlefield, while around him clash competing views of economics, markets and societies.
Jesse Norman
June 22, 2018
Capitalism in flames, populism and nationalism on the march across Europe, a US president bent on demolishing free trade, a British shadow chancellor calling openly for the overthrow of capitalism itself . . . the 21st century is not going to script.
The market system from which global prosperity has emerged over two centuries is now under attack from all sides, its basic legitimacy assailed from the right by critics of unfair competition and crony capitalism, from the left by campaigners against inequality and “market fundamentalism”.
More than any other, the Scottish political economist and philosopher Adam Smith stands at the centre of this ideological battlefield, while around him clash competing views of economics, markets and societies.
Monday, June 25, 2018
Mahathir revives water dispute with Singapore, says 1962 deal 'too costly'
25 June, 2018
KUALA LUMPUR — Malaysian Prime Minister Mahathir Mohamad is seeking to renegotiate a longstanding water supply deal with Singapore, criticising a 1962 agreement with the Republic as “too costly”.
[Right. Mahathir is a medical doctor. Finance and accounting are not his forte. Certainly not at age 92. Or even 30 years ago. Here's the math from this news two years ago:
His remarks on the water issue, made during an interview with Bloomberg Television last Friday (June 22), came weeks after after he announced plans to cancel a multibillion-dollar high-speed rail project that would have connected Kuala Lumpur to Singapore.
KUALA LUMPUR — Malaysian Prime Minister Mahathir Mohamad is seeking to renegotiate a longstanding water supply deal with Singapore, criticising a 1962 agreement with the Republic as “too costly”.
[Right. Mahathir is a medical doctor. Finance and accounting are not his forte. Certainly not at age 92. Or even 30 years ago. Here's the math from this news two years ago:
"... it cost Singapore RM2.40 [2003] to treat 1000 gallons of water, and we sell it to Johor for 50 sen. That's a RM1.90 subsidy per 1000 gallons. Johor buys currently 16 mgd - million gallons PER DAY. That's about RM30,000 subsidy per day.
That's money Johor doesn't have to spend to treat water for its residents. That's not the best part (for Johor).
Johor then sells the water to their residents for about RM3.95 per 1000 gallons. They make RM3.45 per 1000 gallons from the water they buy from Singapore. "So, "too costly"? Yeah. For SG.]
It costs SG about RM11m a year (in 2003 prices) to supply Johor with 16 mgd of treated water, and Johor earns about RM20m a year selling our subsidised treated water TO THEIR OWN PEOPLE.
His remarks on the water issue, made during an interview with Bloomberg Television last Friday (June 22), came weeks after after he announced plans to cancel a multibillion-dollar high-speed rail project that would have connected Kuala Lumpur to Singapore.
Thursday, June 21, 2018
All the Times North Korea Promised to Denuclearize
WIRED JUNE 12 2018
The nuclear summit between President Donald Trump and North Korean leader Kim Jong Un has concluded, with each securing something they value. The US will suspend the joint military exercises with South Korea that rattle the Hermit Kingdom. And North Korea has promised to denuclearize. At some point. Probably. But if the past is any sort of prologue, you shouldn't hold your breath.
On the face of it, the agreement signed by Trump and Kim seems promising. “President Trump committed to provide security guarantees to the DPRK, and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean Peninsula,” the statement read.
But this is not the first time North Korea has promised to abandon its nuclear efforts. (In truth, even this was simply a reaffirmation of a denuclearization pledge Kim had already made in April.) Nor is it the second time, or the third. The offer has resurfaced over the past several decades with surprising regularity. And it has never panned out so far.
“There’s definitely a pattern where the North Koreans agree to denuclearize in theory, but then there’s not really a substantive process that they agree to, to actually hammer it out,” says James McKeon, a policy analyst at the Center for Arms Control and Non-Proliferation.
The nuclear summit between President Donald Trump and North Korean leader Kim Jong Un has concluded, with each securing something they value. The US will suspend the joint military exercises with South Korea that rattle the Hermit Kingdom. And North Korea has promised to denuclearize. At some point. Probably. But if the past is any sort of prologue, you shouldn't hold your breath.
On the face of it, the agreement signed by Trump and Kim seems promising. “President Trump committed to provide security guarantees to the DPRK, and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean Peninsula,” the statement read.
But this is not the first time North Korea has promised to abandon its nuclear efforts. (In truth, even this was simply a reaffirmation of a denuclearization pledge Kim had already made in April.) Nor is it the second time, or the third. The offer has resurfaced over the past several decades with surprising regularity. And it has never panned out so far.
“There’s definitely a pattern where the North Koreans agree to denuclearize in theory, but then there’s not really a substantive process that they agree to, to actually hammer it out,” says James McKeon, a policy analyst at the Center for Arms Control and Non-Proliferation.
Wednesday, June 20, 2018
Cheaper alternative to KL-S’pore High-Speed Rail feasible, but may be shortsighted: Experts
By Kenneth Cheng
19 June, 2018
TODAY
SINGAPORE — Even if the authorities upgrade Malaysia’s Keretapi Tanah Melayu (KTM) railway infrastructure as a cheaper alternative to the Kuala Lumpur-Singapore high-speed rail project, it may still take time and need substantial work, experts said.
And the move may turn out to be penny wise and pound foolish further down the road, with Singapore and Malaysia left behind while other countries pursue a regional high-speed rail network.
Their comments came after Malaysian news agency The Star reported on Monday (June 18) that the option of rejuvenating the KTM was brought to the attention of Malaysia’s Council of Eminent Persons — an advisory body recently formed by Malaysian prime minister Mahathir Mohamad.
TODAY
SINGAPORE — Even if the authorities upgrade Malaysia’s Keretapi Tanah Melayu (KTM) railway infrastructure as a cheaper alternative to the Kuala Lumpur-Singapore high-speed rail project, it may still take time and need substantial work, experts said.
And the move may turn out to be penny wise and pound foolish further down the road, with Singapore and Malaysia left behind while other countries pursue a regional high-speed rail network.
Their comments came after Malaysian news agency The Star reported on Monday (June 18) that the option of rejuvenating the KTM was brought to the attention of Malaysia’s Council of Eminent Persons — an advisory body recently formed by Malaysian prime minister Mahathir Mohamad.
Sunday, June 17, 2018
Ripples of the Singapore Summit
And the Trump-Kim Summit will forever be known as "The Singapore Summit".
The meeting is historic, even if the significance of the agreement forged is still pending the judgement of history.
Here are two news articles on the ripples from the Summit.
The meeting is historic, even if the significance of the agreement forged is still pending the judgement of history.
Here are two news articles on the ripples from the Summit.
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