By DAVID KOH & JOE CHOO | Aug 17, 2009
Peak of the Game : Part B
Properties from a feng shui perspective
LANGKAWI TOUR
The sleepy island of Langkawi was thought to be cursed for seven generations by Mahsuri who was falsely accused and put to death by jealous parties. Apparently, the seventh generation ended during Dr Mahathir’s watch.
The island was developed into a tourist attraction and he created the Le Tour de Langkawi cycling competition. It would take cyclists across the length and breadth of the country – what better way to promote the country to tourists?
However, poor cargo service and delays in 1997 led to the second stage – Sarawak – to be cancelled and replaced by an exhibition race, and these locales were bypassed in subsequent series.
The Tour did well for some years until the 2000s (Period 6 – a time of decline). The final stages of 2003 and 2006 were cancelled due to monsoon rains. In 2004, part of the race was disqualified because the police opened the race track to public vehicles while the race was still ongoing!
In 2005, financial problems led to the prize money to some riders and payments to large contractors not paid. This happened because Dr Mahathir had stepped down from office and a month before the event, the Asian tsunami hit and prompted two sponsors to pull out.
More financial woes, with RM10.2m in unpaid debt, almost led to the cancellation of 2007’s Tour. This year, the tour is again in jeopardy with the government offering a grant of only RM7.5m, compared to RM25.5m in 2007 and RM22m in 2008. Today, Langkawi itself has been bypassed by the Tour, which still bears its name.
ASIAN FINANCIAL CRISIS
In July 1997, the Asian financial crisis hit. Currencies and economies in countries such as Thailand, Indonesia and South Korea were badly hit and needed urgent aid from the International Monetary Fund.
Malaysia’s currency was then “attacked” by speculators – Dr Mahathir specifically named George Soros as one of the main players – and forced the overnight rate to jump from less than 8% to over 40%! This led to rating downgrades and a sell off on stocks and the ringgit.
By the end of the year, investment grade stocks fell to junk level; the KL Composite Index fell from above 1200 to under 600; the ringgit fell from above RM2.50 to under RM3.80 to the dollar; and the economy plunged into its first recession in many years.
Going against the grain, Dr Mahathir decided to reject the IMF’s aid package – and the strings attached. Instead, he introduced radical capital controls. The ringgit was pegged at RM3.80 to the dollar, movement of the currency was controlled and several agencies were set up to buy over bad loans from banks and recapitalise banks. Banks then underwent several rounds of mergers and acquisitions to become stronger financially.
This saved the country from economic ruin and years later, Dr Mahathir was vindicated for his bold moves. This success story enhanced Dr Mahathir’s reputation further. Indeed, it was probably helpful that this occurred during Period 5, his “peak period”. Not so fortunate was Indonesian president Suharto, who was forced to step down following riots resulting from the crisis. Thailand's prime minister, Chavalit Yongchaiyudh also resigned.
ANWAR IBRAHIM
Grace and beauty were not on Dr Mahathir’s mind, though, when he fell out with Anwar Ibrahim, which led to the latter’s sacking and subsequent arrest for sodomy and corruption. This was another dark moment in our nation’s history, where massive demonstrations gripped the capital city and where riot police were called in to quell protests. Anwar’s highly criticised court proceeding also dominated headlines and put a blemish on Malaysia’s international image.
Yet, because this was Period 5, Dr Mahathir’s iron will held sway and he successfully fought off the challenge, unlike his predecessors who were in power in previous periods. In the 1999 general election, against a tide of anti-government sentiment over Anwar, Barisan Nasional retained its two-thirds majority and grip on power.
This golden age is not just about challenges, for Malaysia experienced a renaissance of sorts during this period, too. *This series on feng shui and real estate properties appear courtesy of the Malaysia Institute of Geomancy Sciences (MINGS). You can send in your queries on feng shui and properties via our feedback link at the bottom of the page. David Koh is the founder of MINGS and has been a feng shui master and teacher for the past 35 years.
Previous Page : Peak of the Game »
See Related Articles:
|