Saturday, October 18, 2008

Economic rednecks in Malaysia

It was a glorious fall morning for me. I completed incorporating my business and just received my Federal Employer Identification by mail.

I never left the comfort of my office as I completed incorporating my business.
I submitted the application online to the various agencies and the IRS (Internal Revenue Service)

My spouse and I both have 50% equity each in this business entity.

What could be so glorious about this situation ? Isn't it suppose to be that way ?
Isn't it up to you who you want to participate in this business. After all, it's my business, I could give 10% of it to my pet chicken if I want to.

Governments all over the world welcome business and economic growth. Governments survive on taxes and the more profits I make the more taxes I pay.

How f*cking stupid will it be if I was forced to give 30% equity of my newly formed business to my Harley Davidson trotting redneck from Texas who lives across me.
He lazes around, drinks beer daily, watches football on his large screen TV, and leaves the mowing of his lawn to his wife.

Why the F*ck do I need to essentially give people free money ?
Why ?

It's not the case in Stupid Malaysia.
Here, the Muslim Government forces you to play St. Nicholas.
Not just on the day Chirst was born, but all year round, 365 days a year and every f*cking waking hour of your day.

Excerpt of the little snippet here.
KUALA LUMPUR, Oct 18 — The MCA has called for the abolition of the 30 per cent Bumiputera equity requirement.

“Economic policies should be further liberalised and equity restrictions which limit business development should be abolished so companies will be more competitive in this challenging economic situation,” party president Datuk Seri Ong Ka Ting said in his opening speech at the 55th MCA General Assembly today.

“There are businesses already running but are suddenly told orally that they must have a 30 per cent Bumiputera equity and then given a year to meet this requirement. If not, their licences will not be extended. It has happened and is still happening.”

He said the policy was causing capital flight and that “the implication is when investors flee, these outlets will be empty and operators of office buildings and shopping malls are Malaysians. So there is a chain reaction.”

The outgoing MCA president said the implementation of policies was not consistent with the thinking of the Cabinet and national leaders.

“I have no problems with our leaders, Datuk Seri Abdullah Ahmad Badawi and Datuk Seri Najib Razak, with their role in the Cabinet and Barisan Nasional,” he said of the BN chairman and his deputy.

“The problem is not the leadership but people on the ground.”

He cited the “prejudice and narrow-mindedness” of government officials in the handling of licences and tenders as an example.

“Before, it did not matter if a supplier was Bumi or not for projects and contracts below RM50,000

Go figure ?
F*cking idiots.