This is also the first time for Najib Razak, who became prime minister after his predecessor quit four years ago, to led the ruling party United Malays National Organisation (UMNO) in a general election and political pundits argue that this has put him in a difficult position to force through any potential policy changes. The election could be the closest in history. Najib needs to reverse the huge gains the Anwar Ibrahim-led opposition alliance Pakatan Rakyat (PR) made in 2008, when the ruling National Front lost five of 13 states and the two-thirds majority which it had enjoyed since Independence about 57 years ago.

The two hottest election battlegrounds are Penang and Selangor, both held by opposition. The states attract the highest number of investments, providing strong revenue to the federal government. Najib has declared that these two states must be won at any cost while the opposition is fighting hard to keep them in its stable.

Photo Credit: Flickr.

Meanwhile, the Education Ministry has warned teachers and students not to participate in the so-called politically motivated rally. Chief secretary to the government Ali Hamsa also advised civil servants not to be involved in the rally. Parents were told to discourage their children from attending.

In Malaysia, Genneva Malaysia Sdn Bhd, a gold trading company that has been the subject of a literal run by its customers, is under investigation by Bank Negara Malaysia (BNM) for alleged “financial improprieties”.

Its Jalan Kuchai Lama offices were raided by BNM yesterday. A number of employees were taken in for questioning. BNM not only seized all the documents and records of Genneva Malaysia but also seized all the stock of Gold and cash as well.

Genneva model is to sell specially marked gold to customers at a premium to the market. As of writing, it listed a price of $90 per gram on its website. The indicative retail gold price on the open market was about $70 per gram. Thus, Genneva investor pays a premium nearly 30% more for their gold. Genneva customers who hold on to their Genneva gold investment will a monthly 2% so-called discount off its list price. Genneva undertakes to buy back the gold in after the 3 months contact at the list price (the fine print on their contract stated that they are illegally obligated to buyback at the spot market price), and customers pocket the discount. Assuming a monthly rollover, they stand to earn as much as 24% year. Some customers have been offered a discount of as much as 2.5%.

Three Genneva directors of Genneva Sdn Bhd – Marcus Yee Yuen Seng, Ng Poh Weng and Chin Wai Leong, who are also directors of Genneva Pte Ltd – are being sued by Bank Negara in Malaysia for alleged illegal deposit taking and alleged offences under anti-money laundering laws. The case is ongoing.

Photo Credit: Flickr.

Tens of thousands of Malaysians hit the streets of the capital Kuala Lumpur for the rally organised by electoral-reform group Bersih 2.0, demanding changes to an election system they say is rigged in the ruling coalition’s favour.

Photo Credit: Flickr.

The demonstrators swamped the capital, hoping to pressure Prime Minister Najib Razak’s ruling coalition to overhaul electoral policies before the next election. Malaysian police arrested 471 people but were all released a day later.

Photo Credit: Flickr.

The Mikoyan MiG-29, NATO reporting name: Fulcrum, is a fourth-generation jet fighter aircraft designed in the Soviet Union for an air superiority role. Developed in the 1970s by the Mikoyan design bureau, it entered service with the Soviet Air Force in 1983, and remains in use by the Russian Air Force as well as in many other nations. The Mikoyan MiG-29 is aerodynamically broadly similar to the Sukhoi Su-27, but with some notable differences. MiG-29 is built largely out of aluminium with some composite materials. It has a mid-mounted swept wing with blended leading-edge root extensions (LERXs) swept at around 40°.

Photo Credit: Flickr.

The Prime Minister, Dato’ Sri Mohd. Najib, extend his Thaipusam greetings to all Hindus. Najib noted that Hindus marked Thaipusam by offering their gratitude and sacrifice throughout the country. He said many would also be making vows and praying for a better life and secure a happy future for their children. “It’s a basic human wish to improve and progress towards a better quality of life for oneself and loved ones,” Najib said.