ID :
82580
Fri, 10/02/2009 - 01:01
Auther :
Shortlink :
https://oananews.org//node/82580
The shortlink copeid
ISKANDAR MALAYSIA IS GOOD BUT BRIDGE IS NEEDED, SAYS MAHATHIR
KUALA LUMPUR, Oct 1 (Bernama) -- Singapore could benefit largely from the
spillover effects from the development of the Iskandar region in southern state
of Johor but first a new bridge is needed, says former prime minister Dr
Mahathir Mohamad.
" It is a very good project but it will be even better if Singapore allows
us to build a bridge and replace the Johore causeway," he said, prompting
laughter from some 400 business leaders attending the Ninth Forbes Global CEO
Conference here Wednesday.
He was responding to a question on how Iskandar Malaysia will benefit
Singapore and the future relationship between the two countries.
Dr Mahathir said the causeway was becoming congested and that would not be
good for development.
" Don't be nostalgic about the causeway, forget about it. We should replace
the causeway...it is no longer useful. Yes, in 1923 the causeway was needed but
in this 21st century, we need a bridge.
" So, stop making an issue about having a bridge, then everything will be
fine," said Dr Mahathir, who is also the advisor for national carmaker, Proton
Holdings Bhd and national oil and gas corporation, Petroliam Nasional Bhd.
For almost an hour, Dr Mahathir patiently answered questions from Forbes
Media Chief Executive Officer Steve Forbes, who moderated the session, as well
as from conference participants.
A Thai participant wanted to know Malaysia's secret in preventing forest
fires which prompted media representatives to break out in laughter.
" We have no secret, we have rain. For the last three days, you must have
noticed that it has been raining. Only in Malaysia does it really pour.
" Rain is very heavy and we depend on rain. Sorry, we cannot export rain,"
he said while smiling.
Turning to a critical subject, Mahathir said there is a need for Asean
countries to have a common trading currency.
" It will take time. If Asean were to have a common trading then perhaps the
first stage will be to have a common trading currency. A common trading currency
will not be for domestic use but for settlement of trade," he said.
Dr Mahathir pointed out that the European Union took more than 50 years to
develop its currency and to evolve into a grouping.
He was responding to a question on how Asean can develop its own trading
currency similar to that of the European Union.
Closer to home, he was asked about the Labuan International Offshore
Financial Centre's position as a tax haven.
He said Labuan has successfully developed as a tax haven although it was not
as big as Singapore.
" At the moment, I really think that tax havens are not really a good thing.
Many people do a lot of funny things in tax havens. They think they can use tax
havens to evade paying taxes in the country of operations," he added.
He said tax havens should be regulated by international committees or be
done away completely.
-- BERNAMA
spillover effects from the development of the Iskandar region in southern state
of Johor but first a new bridge is needed, says former prime minister Dr
Mahathir Mohamad.
" It is a very good project but it will be even better if Singapore allows
us to build a bridge and replace the Johore causeway," he said, prompting
laughter from some 400 business leaders attending the Ninth Forbes Global CEO
Conference here Wednesday.
He was responding to a question on how Iskandar Malaysia will benefit
Singapore and the future relationship between the two countries.
Dr Mahathir said the causeway was becoming congested and that would not be
good for development.
" Don't be nostalgic about the causeway, forget about it. We should replace
the causeway...it is no longer useful. Yes, in 1923 the causeway was needed but
in this 21st century, we need a bridge.
" So, stop making an issue about having a bridge, then everything will be
fine," said Dr Mahathir, who is also the advisor for national carmaker, Proton
Holdings Bhd and national oil and gas corporation, Petroliam Nasional Bhd.
For almost an hour, Dr Mahathir patiently answered questions from Forbes
Media Chief Executive Officer Steve Forbes, who moderated the session, as well
as from conference participants.
A Thai participant wanted to know Malaysia's secret in preventing forest
fires which prompted media representatives to break out in laughter.
" We have no secret, we have rain. For the last three days, you must have
noticed that it has been raining. Only in Malaysia does it really pour.
" Rain is very heavy and we depend on rain. Sorry, we cannot export rain,"
he said while smiling.
Turning to a critical subject, Mahathir said there is a need for Asean
countries to have a common trading currency.
" It will take time. If Asean were to have a common trading then perhaps the
first stage will be to have a common trading currency. A common trading currency
will not be for domestic use but for settlement of trade," he said.
Dr Mahathir pointed out that the European Union took more than 50 years to
develop its currency and to evolve into a grouping.
He was responding to a question on how Asean can develop its own trading
currency similar to that of the European Union.
Closer to home, he was asked about the Labuan International Offshore
Financial Centre's position as a tax haven.
He said Labuan has successfully developed as a tax haven although it was not
as big as Singapore.
" At the moment, I really think that tax havens are not really a good thing.
Many people do a lot of funny things in tax havens. They think they can use tax
havens to evade paying taxes in the country of operations," he added.
He said tax havens should be regulated by international committees or be
done away completely.
-- BERNAMA
