Why fail in investment in Bursa Malaysia

To Share the common mistake we make in investment life

Thursday, September 28, 2006

Letter from Oversea Malaysian? Do we still invest in Bursa Malaysia?

The Letter below is somebody forward to me, I read with Sad and cry, this is our belove Malaysia! Malaysia Boleh! Let us pray for this Country and our nation, think of our next generation! What we can do on that?



Dear Mr Ooi,
I have been meaning to pen some thoughts for some time now, to letpeople actually read the views of the typical 'overseas Malaysian' whois kept away. I realise that my email is rather long, but I do hope thatyou would consider publishing it (and also keep my name private!).
I shall start by telling a little about my background. Mine is a rathersad tale - of a young Malaysian full of hope and patriotic enthusiasm,which is slowly but surely trickling away.
I am very different from many other non-bumiputeras, as I was giventremendous opportunities throughout my childhood. Born into amiddle-class Chinese but English-speaking family, I grew up with all theprivileges of imported books, computers, piano/violin lessons andtuition teachers.
My parents insisted that I should be exposed to a multi-racial educationin a national school. In my time, my urban national school (a missionaryschool) was a truly happy place - where the Malays, Chinese and Indianstudents were roughly equal in proportion. We played and laughed witheach other, and studied the history of the world together during Form 4,with one interesting chapter dedicated to Islamic history.
Though 75% of my teachers were Malays, I never really noticed. My Malayteachers were the kindest to me - teaching me well and offering me everypossible opportunity to develop. I led the district teams for Englishand Bahasa Malaysia debating competitions. I was the only non-Malayfinalist in the Bahasa Malaysian state-level elocution competition. MyMalay teachers encouraged me to transfer to a government residentialschool (sekolah berasrama penuh) so as to enable me to maximise myacademic potential. I refused because I was happy where I was, so theymade me head prefect and nominated me as a 'Tokoh Pelajar Kebangsaan'.Till this day, I am absolutely certain that it was the kindness of allmy Malay teachers which made me a true Malaysian.
I excelled at school and was offered a Singaporean governmentscholarship to study overseas. I turned them down because I wanted toensure that I would remain a 'true Malaysian' in the eyes of Malaysia.So I accepted a Malaysian government scholarship to study at OxfordUniversity. Throughout my three years as an undergraduate, the officersat the MSD looked after me very well, and was always there to offersupport.
I graduated with first class honours, and was offered a job with aleading investment bank. The JPA released me from my bond, so as toenable me to develop my potential. I shall always be grateful for that.I worked hard and rose in rank. My employer sent to me to HarvardUniversity for postgraduate study and I climbed further up theirmeritocratic ladder.
Now I am 31 years old and draw a comfortable monthly salary ofUS$22,000.Yet, I yearn to return home. I miss my home, my family, my friends, myMalaysian hawker food and the life in Malaysia. I have been asked manytimes by Singaporean government agencies to join them on very lucrativeterms, but I have always refused due to my inherent patriotism.
I really want to return home. I have been told by government-linkedcorporations and private companies in Malaysia that at best, I wouldstill have to take a 70% pay cut if I return to Malaysia to work. I amprepared and willing to accept that. My country has done a lot for me,so I should not complain about money.
But of late, my idealistic vision of my country has really come crashingdown, harder and faster than ever before.

I read about the annual fiasco involving non-bumiputera top scorers whoare denied entry to critical courses at local universities and areoffered forestry and fisheries instead. (My cousin scored 10A1's for SPMand yet was denied a scholarship).
I read about UMNO Youth attacking the so-called meritocracy systembecause there are less than 60% of Malay students in law and pharmacy,whilst conveniently keeping silent about the fact that 90% of overseasscholarship recipients are Malays and that Malays form the vast majorityin courses like medicine, accountancy and engineering at localuniversities.
I read about the Higher Education Minister promising that non-bumiputeraMalaysians will never ever step foot into UiTM.I read about a poor Chinese teacher's daughter with 11A1's being denieda scholarship, while I know some Malay friends who scored 7A's and whoseparents are millionaires being given scholarships.
I read about the brilliant Prof. K.S. Jomo, who was denied a promotionto Senior Professor (not even to Head of Department), although he wasbacked by references from three Nobel Prize winners. Of course, histalent is recognised by a prestigious appointment at the United Nations.I read about UMNO Youth accusing Chinese schools of being detrimental toracial integration, while demanding that Mara Junior Science Collegesand other residential schools be kept only for Malays.
I read about the Malay newspaper editors attacking the private sectorfor not appointing enough Malays to senior management level, whilstinsisting that the government always ensure that Malays dominateanything government-related.
I read that at our local universities, not a single Vice-Chancellor orDeputy Vice-Chancellor is non-Malay.I read that in the government, not a single Secretary-General of anyministry is non-Malay. The same goes for all government agencies likethe police, armed forces, etc.
I read about UMNO screaming for the Malay Agenda, but accusing everyoneelse of racism for whispering about equality.I read about a poor Indian lady having to pay full price for a low-costhouse after being dispossessed from a plantation, whilst Malaymillionaires demand their 10% bumiputera discount when buying RM2million bungalows in a gated community.
I read about my beloved national schools becoming more and more Islamicby the day, enforced by overzealous principals.I read about my Form 4 World History (Sejarah Dunia) syllabus, which nowcontains only one chapter of world history, with Islamic historycovering the rest of the book.
As I read all this, I tremble with fear. I love my country and long toreturn. I am willing to take a 70% pay cut. I am willing to face ademotion. I honestly want to contribute my expertise in complexfinancial services and capital markets. But really, is there a futurefor me, for my children and for their children? I am truly frightened.
I can deal with the lack of democracy, the lack of press freedom, theISA, our inefficient and bureaucratic civil service, our awful mannersand even a little corruption. But I cannot deal with racism in myhomeland. I think this is the single biggest factor which is keepingpeople like myself away.
And bear in mind - there are so many of us (researchers, scientists,bankers, economists, lawyers, academics, etc.). What people read aboutin Malaysia (like Dr Terence Gomez) is but the tiniest tip of theiceberg. You will be amazed to know about Malaysians denied JPAscholarships (which would have made them civil servants), took loans toattend Ivy League universities, but who are later asked to advise ourgovernment (on IT, economics, etc.) at fees running to millions of USdollars. Such information will never be published because it ispolitically incorrect.
I pray for God's blessing on this great country of ours.I pray that He blesses our leaders with the foresight and humanity tosee that this will not work and cannot continue. I pray that they willhave the strength to make our country a home for all Malaysians and thatthey will have mercy for the poor, including the non-Malays. I pray fortrue racial harmony and acceptance (not just tolerance) in Malaysia.Yours sincerely,A very frightened Malaysian abroad.

2 Comments:

Anonymous Anonymous said...

STOP BLAMING !COME BACK AND MAKE THE COUNTRY BETTER NOT SPREADING THE WRONG IDEA YOu CANT Compare US WITH MALAYSIA
BE A TRUE MALAYSIAN LIKE US AND MADE THE CHANGES STEP BY STEP

11:37 PM  
Anonymous Anonymous said...

To the 31yr old who is earning USD22,000 and others with so-called similar or freightened mindset :
Dont like Malaysia, dont come back. simple, clear cut.

AND

Ask yourself, does every bright American students who deserved a place in Harvard got a place in Harvard?

AND

What have you done for Malaysia?

AND MOST IMPORTANTLY

Open up your eyes and look : There are millions of non-malays in Malaysia, living in peace and harmony, secured good jobs, raising healthy families and enjoying good lives. If Malaysia is as bad as you say, you think these non-malays are stupid?

I Love Malaysia.

A proud Malaysian entrepreneur,who travels the world but always keep Malaysia at heart.

12:45 AM  

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