My Oral Question 1 was queued for No. 57 today, so it was responded as a written answer. Due to 24 minutes of pandemonium, only 5 oral questions were answered by the respective ministers.
QUESTION PR-022-L19070:
Tuan Jeff Ooi Chuan Aun [ Jelutong ] to ask the MINISTER OF FINANCE to state the full list of companies seeking guarantees for bond market worth RM15 billion through Danajamin Nasional Bhd.
ANSWER:
1 ) Sejak pembentukan Danajamin Nasional Berhad (Danajamin) diumumkan pada 15 Mei 2009, pelbagai syarikat-syarikat swasta telah menghubungi Danajamin dan beberapa institusi-institusi kewangan untuk mendapat nasihat mengenai penerbitan bon masing-masing. Syarikat-syarikat ini terdiri daripada golongan syarikat dari sektor pembinaan, hartanah, perusahaan dan perkhidmatan.
2 ) Hasil perbincangan awal dengan para penasihat kewangan syarikat-syarikat berkenaan, lebih daripada 60 syarikat telah menunjukkan minat untuk menerbit bon dengan jaminan daripada Danajamin. Danajamin dijangka akan menerima permohonan rasmi daripada syarikat-syarikat berkenaan pada hujung bulan Jun 2009 dan akan menandatangani perjanjian jaminan pertama pada bulan Julai 2009. Hanya syarikat yang ditarafkan "investment grade" (kadaran BBB ke atas) dan juga memenuhi dasar kredit dalaman layak untuk mendapat sokongan Danajamin.
Regrettably, the Minister of Finance did not mention in his answer that, for the sake of transparency, the list of companies receiving Danajamin support will be published on a website.
HAVE STIMULUS PLANS ALL FAILED?
It has been seven and three months, respectively, since the first and second stimulus packages were announced.
But this morning, it was Najib who told the Parliament that less than one-sixth of the RM17 billion allocated for fiscal spending between the two stimulus packages has been spent.
To be exact, only RM1.4 billion of the RM7 billion out of the first package has been spent.
Of the RM60 billion packaged for the second stimulus plan -- remember, only RM10 billion of which is actual government spending for 2009 -- only some RM1.2 billion had gone to the ground.
This is despite the fact that 99% of the first package had been allocated, in addition to RM4.2 billion allocated in the second package.
This clearly shows the Implementation Coordination Unit (ICU) within the PM's Department must mobilise fast to fulfil the expectation of the "People First, Performance Now" motto. Ain't PEMUDAH supposed to lessen bureaucratic inertia?
What was clear was that the growth of Gross Domestic Product (GDP) 2009, originally projected to track at 1% to negative 1%, has been readjusted to shrink between 4 to 5%.
Summary of answer in English:
Continue reading "Oral Question 1: Danajamin Nasional Bhd" »