Major support level of KLCI breaks

The KLCI drops in at 1,447 before lunch today breaking the major support level of 1,460 points. The KLCI opened a sluggish sub-1,460 this morning. The fall is lead by banking counters and blue chip counters. Banking stocks include CIMB which dropped about RM0.30 today. Loosing counters lead the gainers by about 600.

Lynas: an injustice most taxing

Malaysians are no strangers to skewed agreements. From IPP subsidies to guaranteed profits for highway concessionaires, the public has on numerous times endured the consequences of sheer governmental incompetence. Yet, the 12-year tax exemption given to Lynas may prove to be the biggest blunder ever. Lynas is projected to make about AUD 6.2 billion in pre-tax profit in 2012 and 2013 and in exchange, we allow them to contaminate our land for free.

The graph below shows the spectacular rise in rare earth price since Q3 2010. While gold’s bull run has been getting plenty of attention of late, the real star is rare earth, which has taken off to astronomical heights. For Lynas, the price of the rare earths from Mount Weld may increase 15.7 times from JP Morgan’s estimate by the time the Lynas Advanced Materials Plant (LAMP) begins production in 2012.

Malaysian tax is not for public healthcare but public healthcare is for tax

I strongly believe that a democratically elected government has a moral responsibility to enable its citizens to live with dignity and comfort. In their time of desperation and need, there is no extortion imposed upon them and their love ones.

Health care is something that I believe, should not be privatized. A sick, weak and severely threatened person is in no position to negotiate.

Do consult all our religious teaching and conscience – is holding the sick, terrified and weak, and his or her loved one to ransom the right thing to do?

Acid Attacks: PDRM dragging their feet

The splasher attacks began on March 2 after eight students and a teacher from SK Bukit Bandaraya in Jalan Bangkung, Bangsar, were splashed with a burning substance by a motorcyclist. Since then, a total of more than 20 people have already suffered either minor or severe burns at the hands of these culprits.- The Star

Pic from The Star.

Pay this, tax payers!

I can feel my blood vessels busting reading about the financial management circus going round in this country. Commonsense tell us that a budget is meant to guide how money is being spent. Try screwing up your personal or company’s budget and see what happens.

But with Barisan Nasional administration, it is as normal as breathing to exceed previous year’s budget and asking for more and more money via Supplementary Supply Bills after the annual national budget is rubber stamped by partisan MPs who can do no more than blind worshipping yet another deficit budget.

Register to vote! Look at those frogs who surrender the nation without a fight

There is no shortage of science fiction movies that show aliens assuming human form to take over the planet. Laughable Hollywood stuffs it maybe, but in Bolehland, this threat seems to be very real, very terrifying.

I refer to Kuek Ser Keng’s report entitled “PR becomes Citizens in four hours” which reported that a person with the name of Mismah (NRIC 640704715238) had collected her red RR card, base on status report of NRD online verification system as at 5:48pm 1 August 2011 and 11:30am 2 August 2011.

Shockingly, after 4 hours at 3pm 2 August 2011, the status report revealed that the same person had collected her blue IC – Mykad! She is also registered as a new voter on EC’s voters’ roll. (Later status revised to : sedang diproses, more display of surprising efficiency)