I WOULD really like to be a party to the assertions made by the Singapore
High
Commissioner in his letter, "Sell-down did not originate from Singapore",
(The
Star, Aug 16), in relation to trading on the Central Limit Order Book (CLOB).
If Mr (K) Kesavapany really meant it when he said Malaysia's well-being
was of
vital interest to Singapore, then where was Singapore when Malaysia was
looking for friends in its hour of need?
Countries further afield, like Japan and China, have indeed proven to be
genuine
partners.
Japan not only made available substantial amounts in soft loans but was
also
prepared to guarantee a bond issue by the Malaysian Government.
China has not only maintained the value of its yuan but also continues
to be
supportive of action taken by Malaysia to address the financial crisis.
It is so easy to hide behind the sophistry of data and so-called facts
and
figures.
I am certain the relevant Malaysian authorities can also come up with other
statistics to prove the points made by Prime Minister Datuk Seri Dr Mahathir
Mohamad in his article in the Mainichi Shimbun.
As a layman, I would just like to go back to some basics.
I recall that at the height of the financial crisis in Malaysia, Singapore
was
prepared to offer a few miserable billion ringgit in loans to Malaysia
on the
conditionality that an increased supply of fresh water to Singapore was
guaranteed in perpetuity--in a water-tight agreement.
That this offer was also made at the height of the water crisis in Selangor
and
Kuala Lumpur just reflects the total disregard Singapore has for the well-being
and interests of Malaysians.
As a Malaysian, I cannot forget this fact that Singapore saw fit to exploit
Malaysia at a very trying time in its national existence.
Quite plainly, Malaysia's well-being is of vital interest to Singapore
only when it
serves the vital interests of Singapore.
Malaysia has always been a good friend of Singapore.
Calvin Ong
Kuala Lumpur