Share This

Monday, October 18, 2010

A young challenge for the lawmen

Comment by LOURDES CHARLES

More and more youngsters are turning to crime, a problem that has the men in blue worried.

THE young, as we all know, are often reckless. There always have been rebels without a cause, but the recent sharp rise in the number of crimes by teenagers is sounding alarm bells.

In the past weeks, youths have been making headlines, with several caught on video assaulting a fellow student, and others involved in rape, drug abuse, theft, illegal racing, extortion, robbery and even murder.

In the most recent case in Terengganu, several teenagers on motorcycles defied police orders to stop and even ran down two policemen manning a roadblock.

What has startled, even shocked, the police are the brazen acts of contempt and defiance.

The statistics are worrying. Last year alone, more than 7,000 youths, nearly half of them students, were arrested for various crimes. They come from all kinds of backgrounds – the well-to-do, middle class and broken families.

It can happen to any of us working parents who are too busy to know how our children spend their time. Guilt-ridden at not spending enough quality time with teenage kids, many working parents overcompensate with pocket money, PlayStations and the latest mobile phones.

In major Malaysian cities, the parenting role seems to have been passed on to the maids. Not many families have grandparents staying with them, unfortunately.

Most teenagers return home to an empty house with little parental supervision, let alone guidance and love. So they turn to their peers instead.

The Malaysian Crime Prevention Foundation (MCPF) has also found other contributing factors for the increasing teenage crime rate, and these are often beyond the control of parents.

They include cyber cafes and entertainment outlets that expose teenagers to unhealthy practices. In cities like Kuala Lumpur, George Town and Johor Baru, where many families live in cramped flats, the shopping malls and streets have become the playgrounds of the teenagers.

The MCPF has set up over 3,700 crime prevention clubs nationwide to keep the young from straying. But that’s just a drop in the ocean.

Inspector General of Police Tan Sri Ismail Omar recently described the increase in crimes committed by youths as “worrying” and said it could be detrimental to the country if nothing was done to check it.

The fear is that our teenagers will start off with simple juvenile mischief and graduate to more serious crimes.
Then, there is another concern – many teenagers are staying up until the early hours, especially during the weekends.

While it is easy to blame these teenagers, parents cannot absolve themselves from blame.

As parents become more educated, they also tend to adopt a more liberal approach, preferring to talk to their children instead of being disciplinarians.

Unfortunately, sparing the rod has only served to spoil the child.

Teachers have increasingly refused to exercise discipline because parents often turn to the press over the slightest punishment meted out.

National Union of Teaching Profession secretary-general Lok Yim Pheng was reported as saying she had been raising the alarm on the issue of students staying up late and being involved in crime for quite a while now.

She had even recommended that the Penal Code be taught in schools. For example, she said, a student should be told that, if he hits someone or steals or commits any crime, he could be charged and, if convicted, jailed.

But now there seems to be another new challenge for the men in blue.

What they had not been prepared for is bloggers – some with political motives, others out for fun – egging on the young in their blogs and on Facebook to challenge the authorities.

It’s a challenge for the police force, too, and certainly one the new IGP has to tackle.

The image of the police has been challenged and in some ways taken a beating. It needs to win back its respect and its critics have obviously taken advantage of that.

Nevertheless, respect has to be earned. Malaysia has changed and obviously there is now a need for a newer and more comprehensive method of dealing with teenage crime before it becomes a real threat to society.

Sunday, October 17, 2010

The US dollar is already worth less than a euro. Now will it fall behind the 'Aussie'?

The Australian dollar is flirting with parity with its US counterpart for the first time, buoyed by Australia's mineral wealth and its connections to the Asian boom
US dollar with Australian dollar 
A US one-dollar bill below an Australian 10-dollar and 20-dollar bill. Photograph: Jason Reed/Reuters 
 
Bad news for Antipodean-bound cricket fans heading to the Ashes next month. There's a big, bad currency beast on the loose: the Australian dollar. Buoyed by high interest rates and rampant commodity prices, the "Aussie" has rocketed to an all-time high and is on the brink of parity with the US greenback.

The Australian dollar, once disparaged as the "Pacific peso", touched 99.82 •••CHECK US cents this week – its highest level since it was unleashed to float freely in 1983. In the foreign exchange markets, the pound buys just A$1.60, compared to more than A$2 in the summer of last year.

The Aussie's renaissance over the last three months has eclipsed the performance of other fancied currencies including the Japanese yen, the Swiss franc and the Canadian dollar. Its surge was hailed by Australia's finance minister, Penny Wong, as a vote of confidence in the Australian economy – although a steady stream of Australian exporters have warned that their overseas profits are dwindling.

Daniel McCormack, a London-based economist for the Australian bank Macquarie, said the country's rich reserves of coal and iron ore, together with economic growth in its Chinese and east Asian trading partners, had turned the land of plenty into a financial safe haven.

"The Australian economy is strong and it's been fairly well managed," says McCormack. "But the main reasons the Australian dollar is doing so well are commodity prices, plus the strength of China and the rest of Asia."

Australia was one of the few developed countries to avoid a recession during the global financial crisis. Firm fundamentals have allowed the Reserve Bank of Australia to set interest rates at 4.5% – far higher than Britain's 0.5% or America's 0.25% – in a further lure for global flows of capital.

Four years ago, some 30,000 British sports fans travelled to Australia to watch England endure a five-nil drubbing in the Ashes. As England's cricketers prepare for a fresh tour, the cost of travel is soaring. David Swann, a currency strategist at Travelex, says that, at a typical bureau de change, a holidaymaker exchanging £500 would have got A$1,250 at the start of the last Ashes season down under, compared with just A$805 today.

"That's a really significant shift," says Swann, who points to talk of further quantitative easing both in Britain and the US as a reason for capital to slip to other corners of the world. "The US has come out and said it's going to extend its quantitative easing programme. That sends a message to people in the US that the US economy is in trouble and that they should go elsewhere."

The Aussie is not the only currency flirting with parity against the greenback. Canada's dollar – known as the "loonie" after the bird depicted on the C$1 coin – is worth US$1.0036••CHECK and has been within cents of its US counterpart all year. These second-tier currencies are often overlooked in the battle surrounding the yen, the euro and the yuan.

For exporters, such sharp shifts are a significant headache. CSL, an Australian biotechnology company specialising in vaccines and treatments for blood disorders, warned at its annual meeting this week that the strength of the national currency could slice as much as A$100m out of its profits this year. The Australian airline Qantas has reported higher outbound traffic, but empty seats on flights coming into Australia.

According to the Australian tourist office, some 649,400 people travelled from the UK to Australia in the year to July – a drop of 1%, blamed largely on disruption caused by Iceland's volcanic ash cloud rather than by currency exchange. But fears are growing of a fall-off in foreign visitors – the Australian Broadcasting Corporation reported that crowds were "thin" at Sydney's Darling Harbour on a weekday lunchtime this week.

One Perth-based adventure tour operator, Easyrider, ceased operations this month, blaming the soaring currency for a critical shortage of British and Irish backpackers. Owner Chris Cronin told the ABC that the number of people booking tours had fallen from 16 per bus to six or eight: "There are a lot more people out there that are really going to suffer because of the strength of the Australian dollar at the moment," he said.

 Newscribe : get free news in real time

Middle class want more cheer

Malaysia's Tax Budget 2011

ON THE BEAT WITH WONG CHUN WAI

Middle income group hopes spillover effects, especially from tourism and construction sectors, could help.

LET’S face it – many of us expected more from Budget 2011 than what has been delivered. Probably because of wishful thinking, the result of inaccurate media speculation and the belief that it would be a pre-election budget, we expected, or more precisely we hoped for, better tax reliefs in individual income taxes.

But that didn’t happen, so many of us in the middle income group are frowning.

Most of us who work and live in the city eat out a lot. Living in the Klang Valley, we work late, so eating in restaurants is a necessity rather than an option.

The increase in service tax won’t be welcomed. Having to pay more to the govern­ment for my Astro isn’t amusing either, especially when the free-to-air TV stations have not lived up to our expectations.

Sure, we grumble a lot over Astro’s repeats and most of us have had enough of monster fishes and reptiles. But we still need the satellite station for our weekend football matches.

Luckily, the urban middle class who also enjoy going to drinking spots in Bangsar have been spared another round of hikes on excise duty for beers and stouts. It is already the second most expensive in the world after Norway.

The setting up of the National Wage Consultation Council with representation from all stakeholders is important. We can’t talk about wanting to be a high income nation when there is no minimum wage in Malaysia. Certainly the council will be entrusted with making recommendations on minimum wage as well as other measures.

Many in lower and middle management are caught in situations where they are not entitled to overtime claims because they are not in the unionised category but they have heavier responsibilities and work longer hours than their subordinates.

In many cases, this group of middle class executives and managers end up earning less than those working below them.

However, many Malaysians would be happy to hear that they will get a 50% stamp duty exemption on instruments of transfers for buying houses worth less than RM350,000 if they are first-time buyers.

Still, many city folks will be hard-pressed to look for homes within this range. In Kuala Lumpur and Petaling Jaya, many link houses are priced at over RM1mil; semi-detached homes are more than RM2mil; and apartments are priced from RM400,000 to over RM2mil.

There’s some small comfort, though. The abolition of import duties on 300 items is welcomed. It’s not just for handbags and lingerie, as the list includes cotton T-shirts and even Christmas decorations.

So, let’s give credit when credit is due. After hotel bills, shopping is the second highest spending item for tourists so it is a big deal for the tourism sector, which is the country’s second revenue earner after manufacturing. In 2007, Malaysians and tourists spent RM67bil on shopping.

It has been reported that Malaysians have RM200bil as savings in the bank. Spending, or consumption as the economists prefer to call it, is essential to make the economy move.

In the United States, Australia and parts of Europe, there are factory outlets where one can buy branded items. There is none in Malaysia. It is our biggest disadvantage because tourists like to buy branded items at good discounted prices in a central area.

In the absence of such a facility, the removal of duties on these 300 items, especially branded goods, would help boost the tourism sector. There will be spillover effects because promoters who work in shopping outlets would benefit from bigger sales. So, it is inaccurate to suggest that the men in the street would not benefit. From hoteliers to taxi drivers and restaurant owners, tourism is helping them in a big way.

The Petronas Twin Towers, which have become a tourist attraction, will be dwarfed by the proposed 100-storey building under the Wawasan Merdeka mega project.

Like the KLCC, which was developed on an expensive piece of land once used for horse racing, the proposed tower will also be built on prime land that is currently idle.

The 88-storey Twin Towers project was heavily criticised when it was first mooted by Tun Dr Mahathir Mohamad.

Judging from the comments in blogs and Twitter, the proposed tower must be the most unpopular item from the Budget.

Many Malaysians have expressed doubt over the viability of the project and fear that the tall building would have occupancy problems as there is already a glut of office space in KL. Others are asking how this mega project would benefit Malaysians.

These are genuine concerns and obviously Permodalan National Bhd will need to explain its plans for the building. At 100 storeys, it will be one level short of the 101 Taiwan. The tallest building in the world, Burj Khalifa in Dubai, has 108 storeys.

So, if the Wawasan Merdeka building isn’t going to be a world beater, what are we going to achieve with this mega project?

Being prime land, we surely do not expect PNB to put up a 10-storey building there, so it will be good for them to share the benefits of the project to enable Malaysians to appreciate it better.

Hopefully, its construction would have multiplier effects, bringing in economic benefits for other sectors

We hope the project is part of an integrated push for KL to take the next leap forward. No one would argue with the need for the Mass Rail Transit (MRT), which will make travelling in the city much easier. No decent capital city in the world can do without it.

The push to make KL a financial centre under the RM26bil KL International Financial District plan would help strengthen our position as a reputable international Islamic banking. Talk is that Jalan Imbi has been identified for the project. The property market in KL will surely be the beneficiary if this takes off.

From a middle class perspective, the hope is that there will be spillover effects from this slew of projects which will be taken up by the private sector with input from the government. When buildings are put up, the construction sector will be the main beneficiary.

See the related earlier post::
 A painless, facilitative budget