Malaysia Update

ormer prime minister and Umno president Tun Dr Mahathir Mohamad said Saturday he will rejoin Umno.

He said he would announce the date of his return to the party at a suitable time “after (sorting out) several matters”.

“I have to fill up a form. It takes some time. I will let you know later. I am waiting for certain events,” he told reporters after attending the Umno General Assembly at PWTC on Saturday as an observer.

On May 19 last year, at a “ceramah” (talk) in Alor Setar, Kedah, Dr Mahathir announced his withdrawal from Umno, saying he had lost confidence in the party.Dr Mahathir, accompanied by his wife Tun Dr Siti Hasmah Mohd Ali, was seen entering the Dewan Merdeka at PWTC about 12.30pm, when Umno deputy president Tan Sri Muhyiddin Yassin was delivering his winding-up speech. Both of them were given a rousing welcome by the delegates, who stood up to show their appreciation.

Dr Mahathir was seen nodding, as though in agreement, when Muhyiddin expressed the hope of seeing the former prime minister rejoin Umno.

Muhyiddin said Dr Mahathir’s presence more or less reflected his recognition of the new Umno leadership line-up, to which the delegates responded with claps.

At the end of the assembly, Dr Mahathir went down to the main stage and exchanged greetings with Prime Minister Datuk Seri Abdullah Ahmad Badawi and the Umno Supreme Council members and then he, Abdullah, Datuk Seri Najib Tun Razak and Muhyiddin together held up their hands.

Asked why he decided to attend the assembly after having decided against doing so earlier, Dr Mahathir said Muhyiddin’s election as the deputy president gave him the confidence that the anticipated changes in Umno would take place after all.

“I think there is hope for the future,” he said.

Dr Mahathir had stated earlier in his blog, CheDet.com, that he would not attend the assembly as he felt that Umno Youth had openly condoned money politics.

Dr Mahathir also said Umno should fight for the people and not for certain group of individuals if it wants regain the support of the people.

“Without the people, Umno cannot win. Umno’s consolidation process depends very much on where the party is heading, whether it truly fights for the people or for certain group of people,” he said.

Dr Mahathir also agreed to the suggestion that the party do away with the nomination quota which determines the eligibility of members to contest for party posts.

But the most important, he said, was for the party to eliminate money politics because “even if we change the system 10 times, if money politics is still being practised, then Umno will be destroyed,” he said. Asked on the power transition from Prime Minister Datuk Seri Abdullah Ahmad Badawi to Najib, Dr Mahathir said: “The succession is from the Umno president (to his deputy) and I hope another transition from the prime minister will happen.”

Denying that he would be appointed a Government adviser, he said: “If you ask for my advice, why not. Just like Pak Lah, he says he can give his advice, I also can give mine.”

On the Umno line-up, Dr Mahathir said: “There are still certain things which I am not happy with.”

Umno vice-president Datuk Seri Hishammuddin Hussein described Dr Mahathir’s presence at the general assembly as the openness in Umno, which did not exist in the Opposition.

“I am overwhelmed because his presence will hasten our effort to close ranks. This differentiates us and as vice-president, I will help shoulder the responsibility entrusted to us to rebuild the party,” he said.

Meanwhile, Dr Mahathir’s third son, Datuk Mukhriz, hoped that his father would return to Umno as soon as possible.

“This is what we have been waiting for. My father has actually promised that on the day Datuk Seri Najib takes over the party presidency, he will submit his membership application form.

“This (Najib’s presidency) has now become a reality and we are delighted at this new development. However, I’ve never influenced my father to make the decision,” Mukhriz told reporters.

Datuk Seri Abdullah Ahmad Badawi will seek an audience with the Yang di Pertuan Agong on Thursday (April 2) to express his intention to step down as Prime Minister. He told delegates attending the Umno General Assembly on Saturday that he hoped the official ceremony for the handing over of power to Datuk Seri Najib Tun Razak could be held the same day.
Other developments:
* Dr M to rejoin Umno.
* Najib: Judge me on my actions.
* Muhyiddin pledges to be a good and loyal No.2.
* Zahid rouses delegates with his oratory skills.
* Hishammuddin: Allow Grade A teachers to enter politics.
* Shafie: Listen to the younger generation.

KUALA LUMPUR, Sat: 

 KUALA LUMPUR: The country's biggest toll operator PLUS Expressways Bhd is likely to raise toll rates by five per cent -- half the scheduled rates -- from next month.

"The revenue shortfall is expected to be compensated by the government via cash or other forms of restitution, such as extension to the concession period," a source said.

An announcement is expected to be made by the end of this month.

PLUS's scheduled toll increase of 10 per cent was due last month.

The increase would see the average toll rate rise from the current 13.60 sen per km to 14.96 sen per km.
PLUS general manager of corporate communications Khalilah Mohd Talha said they were unable to confirm the increase as they had yet to receive any official word from the government.

HWANG-DBS Vickers Research Sdn Bhd analyst Chong Tjen San said he saw PLUS receiving only a partial increase in toll rates.

He expects highway users most affected by the increase to be those plying the North-South Expressway, the New Klang Valley Expressway (NKVE) and the Federal Highway Route 2.

PLUS holds the concession to the North-South Expressway, the NKVE, the 16km stretch of Federal Highway Route 2 and the Seremban-Port Dickson Highway.

Its other newly acquired toll roads comprise Elite, Linkedua and the Butterworth-Kulim Expressway, which are not due for any increase in toll rates soon.

The government was supposed to decide last month whether to allow PLUS to raise toll rates by 10 per cent or to compensate the concessionaire.

PLUS last raised toll rates in 2005.

The next hike was supposed to be last year. However, high inflation prompted the authorities to delay the increase.

PETALING JAYA: Credit card interest rates and penalty fees are going down.

Cardholders who pay at least the minimum amount promptly over 12 consecutive months (Tier-1) will pay 13.5% in annual interest from March 31, from the present 15%.

For those who pay promptly for at least 10 consecutive months (Tier-II), the interest rate will be 16%, down from 17%.

For those who do not fall into both these categories (Tier-III), the interest rate will be 17.5%, a minimal 0.5% reduction from 18%.

The present minimum late payment fee of RM10, or 1% of the total outstanding balance will also be reduced to RM5, and the RM100 maximum fee cut to RM75.

ABM chairman Datuk Seri Abdul Hamidy Abdul Hafiz, who announced the changes in a statement yesterday, said banks “have listened” to encourage good repayment habits and instil financial discipline.

“Existing local credit card charges are already among the lowest in Asia, which range from 18% to 42% elsewhere in the region. “We hope the latest measures will motivate credit card holders to diligently make at least the monthly minimum payment of 5% of their total outstanding balance promptly,’’ he added.

Sunday Star front-paged consumers rallying for credit card interest rates to be reduced to help them get out of debt.

There are 10.3 million cardholders in the country with total debt standing at RM22.8bil as of December last year.

“The reductions in interest rates should give rise to savings for all credit cardholders to better enable them to make the minimum payment.

“It is also envisaged that more Tier-I cardholders can now afford to plan to settle their outstanding amount in full every month,” Abdul Hamidy added.

He said the different incremental reduction in interest rates of 1.5% between Tier-III and Tier-II and 2.5% between Tier-II and Tier-I would also encourage prudent repayment habits and instil strong personal finance management.

“The revisions not only demonstrate a reasonable, responsive and dynamic Malaysian financial system but are also in line with the underpinning principle of the tiered interest rate scheme introduced last year, that is to encourage good repayment habits and financial discipline,” he added.

Credit risk costs, he added, was expected to climb in a worsening economic environment, but banks would be closely monitoring the situation in the months ahead.

“The public must still exercise great caution and control over personal spending and live within one’s means,” he advised.

Fomca secretary-general Muhammad Sha’ani Abdullah said although the reduced interest rates would help cardholders who had outstanding balances, “the numbers are still toosmall.”

“Muhammad Sha’ani suggested that banks allow cardholders to reschedule loans by converting their credit card balances to term loans with a 10% interest rate.

THE following is the media statement issued by the office of Duli Yang Maha Mulia Paduka Sultan of Perak, Sultan Azlan Shah, which was signed by the ruler’s private secretary, Col Datuk Abd Rahim Mohamad Nor:

Yang Amat Berhormat Datuk Seri Mohammad Nizar Jamaluddin was granted an audience by Duli Yang Maha Mulia Paduka Sultan of Perak Darul Ridzuan on Feb 4, to ask for his Royal Highness’s consent to dissolve the Perak State Assembly.

Yang Amat Berhormat Datuk Seri Mohd Najib Razak, Deputy Prime Minister of Malaysia, also requested for an audience with his Royal Highness in his capacity as the Perak Barisan Nasional chairman and consent was granted to be present before his Royal Highness on Feb 5.

Yang Amat Berhormat Datuk Seri Mohd Najib informed that the Barisan Nasional and its supporters, now comprising 31 state assemblymen, had the majority in the State Assembly.

On the order of the Duli Yang Maha Mulia to ascertain that the information given was accurate, all the 31 state assemblyman were to present themselves before Paduka Seri Sultan.

After meeting all the 31 assemblymen, DYMM Paduka Seri Sultan of Perak was convinced that YAB Datuk Seri Mohammad Nizar Jamaluddin had ceased to command the confidence of the majority of the State Assembly members.

DYMM Paduka Seri Sultan of Perak had also considered thoroughly YAB Datuk Seri Mohammad Nizar Jamaluddin’s application on Feb 4, 2009 for his Royal Highness’s consent to dissolve the Perak State Assembly.

His Royal Highness had used his discretion under Article XVIII (2)(b) of the Perak Darul Ridzuan State Constitution and did not consent to the dissolution of the Perak State Assembly.

YAB Datuk Seri Mohammad Nizar Jamaluddin was summoned to an audience with the Sultan to be informed of his Royal Highness’s decision not to dissolve the State Assembly, and in accordance with the provisions of Article XVI (6) of the Perak Darul Ridzuan State Constitution, DYMM Paduka Seri Sultan of Perak ordered YAB Datuk Seri Mohammad Nizar Jamaluddin to resign from his post as Perak Mentri Besar together with the members of the state executive council with immediate effect.

If YAB Datuk Seri Mohammad Nizar Jamaluddin does not resign from his post as Perak Mentri Besar together with the state executive council members, then the posts of Mentri Besar and state executive councillors are regarded as vacant.

This statement is issued with the consent of Duli Yang Maha Mulia Paduka Seri Sultan of Perak Darul Ridzuan.