Stock Market Books

Friday, July 30, 2010

天安门学运领袖 李禄或成股神接班人

天安门学运领袖
李禄或成股神接班人


更新: July 30, 2010 17:57

(美国‧华盛顿30日综合电)美国《华尔街日报》报道,中国八九民运学生领袖李禄,可能成为股神巴菲特的接班人,执掌巴郡公司(Berkshire Hathaway Inc.)。

21年前,李禄是天安门广场上抗议活动中的学生领袖,现在则是一名对冲基金经理,并有望成为巴菲特的投资旗舰巴郡公司的继任者。

巴菲特旗下的巴郡投资副董事长芒格透露,担任对冲基金经理的李禄,可能成为其中一位,接手管理巴郡1000亿美元(约3200亿令吉)投资组合的经理。 芒格说,在他看来,这是预料中的事情。

继承巴菲特的事业,是现代企业史上最惹人关注的继任故事之一。

一个月后将过80岁生日的巴菲特说,目前没有退休计划,在他离开公司后,可能将目前的主席职务,分拆成为行政总裁和投资业务两部份,其中投资业务,可能由两名或以上的经理负责。

已加入美国籍的李禄成为监管巴郡投资业务的竞争者,也是第一个被点名可能将接替巴菲特执掌投资部门角色的人。

巴菲持拒绝直接评论接班人计划,但他并不排除在他仍在为巴郡掌舵期间,引入李禄这样的投资经理。

拥有3个学位

现年44岁的李禄在华尔街的晋升非常富有戏剧性,天安门事件后,他逃到法国,辗转流亡到美国,在哥伦比亚大学取得经济、法律及商科三个学位。

李禄说,1993年在大学听过巴菲特演讲,令一直不相信奉金市场的他改变看法。 他1997年开设对冲基金公司,之后担任经理,主力投资亚洲市场。

他的对冲基金的投资者,包括美国企业一些资深高管及音乐人史汀,后者认为李禄“工作勤奋又聪明”。

李禄为毕菲持忠实支持者,同为逆向投资者,喜欢人弃我取的投资策略。 他2003年认识芒格后,向巴郡推介入股中国汽车制造商比亚迪,令巴郡有关投资自2008年起,获利12亿美元。

六四后逃到美国

李禄的另一个身分是中国八九年民运的学生领袖、天安门广场副总指挥。

李禄出生€于1966年文革开始的那一年。 他说,他9个月大时,他当工程师的父亲被送到一个煤矿接受“再教育”。 母亲则被送到一个劳改所。

有好几年,他都在不同家庭之间辗转,直至到了家乡唐山一个文盲矿工的家。 李禄说,小小年纪就与家人分离,这教会他生存的技能。

李禄后来上了南京大学,专业是物理。

1989年4月,23岁的李禄到北京天安门广场遇到在那里集会悼念胡耀邦的学生。 他参与了学生的组织工作,并参加了绝食。

1989年5月21日,解放军透过电台发放消息,要天安门广场清场。 决定流守天安门广场的李禄,当时就有一份危在旦夕的感觉。

此时李禄南京大学同校的女友赵敏来北京探望他。 他想一生苦难,死前若有憾事,即中国人传统的“人生大事”尚未完成,便突发奇想求婚,即获女友首肯。

一个小时内,婚礼便办起来了。 婚礼举行后当晚,他便托人送新娘子回南京,以免同遭不测。

六四事件后,李禄逃亡到巴黎,辗转到美国哥伦比亚大学读书。 赵敏遭中国官方多次干扰,没有人敢聘用她。 她后来嫁给一名美国人,移民到美国。

Low’s interview captures world attention

Low’s interview captures world attention

Saturday July 31, 2010


PETALING JAYA: The world exclusive on Jho Low by The Star has caught the attention of the global media.

Gawker, an American website based in New York City, carried the interview of Low with The Star on its story “Paris Hilton’s mysterious Malaysian party boy tells all”.

The website reported that according to news, Low was paying US$1mil (RM3.18mil) to hang out with her in St Tropez but he told The Star he knew Paris primarily through her parents, whom he had met through his good friend.

The website picked up Low’s explanation on rumours of him renting an apartment in Park Imperial as well as Paris and her sister Nikki accompanying him to St Tropez.

The Newkerala.com, based in India, published the story on Low with the headline “Paris Hilton is just part of group, says Malay­sian businessman”.

The website reported that Low spent a long time in the interview dismissing talk that he was “wasting a lot of money partying”.

A Singapore website asianone.com published the interview with the headline “Paris Hilton’s Malaysian tycoon made his 1st million at 20”.

Singapore’s The Straits Times, in its headline “US$1m before graduation”, also summarised the stories published in The Star.

Local dailies as well as news portals and television stations also picked up the interview. Petaling Jaya-based portal Malaysian Mirror headlined its lead story, “Big spender Jho Low speaks up”.

A day after the interview was published, the 28-year-old multilingual Penangite Low continued to get media attention.

New York Post in its story “Paris parties with Jho Low for free”, reported that Hilton denied she had been paid US$1mil to party with Low in St Tropez. Its website quoted a Hilton representative as saying that they were just friends and that Low had invited Paris and her sister Nicky out as friends.

Penang Chief Minister Lim Guan Eng is proud to note the accomplishments of Penangites who are based overseas, including the “well-connected” Low.

“Low is among many Penangites who have excelled internationally. This augurs well for the state as Penangites have shown they have a tremendous ability to succeed when given the necessary opportunities,” he said after opening the three-day National ICT Asso­ciation of Malaysia trade fair at the Penang International Sports Arena here.

The right place, right time and the right people

 
Posted by Picasa

A millionaire before graduating

 
Posted by Picasa

No Ordinary Jho

 
Posted by Picasa

US Recovering added new doubts

 
Posted by Picasa

SJ Aasets Management has nothing to do with SJ Securities Sdn Bhd.

SJ Assets Management has nothing to do with SJ Securities Sdn Bhd

 
Posted by Picasa

Property stock coming up soon

 
Posted by Picasa

Thursday, July 29, 2010

10 myths in the stock market

 
Posted by Picasa

World Growth Cooling down

 
Posted by Picasa



 
Posted by Picasa

KPJ looks positive in a longer term

 
Posted by Picasa

OFI expanded its capacity

 
Posted by Picasa

If ETS Programme is successful, Maybank's profit can be all time high

 
Posted by Picasa

Plus sold PT Cimanggis Cibitung--its toll highway in Indonesia to reduce exposure

 
Posted by Picasa

Sime trapped in two unclear factors

 
Posted by Picasa

Pepsi continues its contract with CIHLDG for 10 more years

 
Posted by Picasa

Measat to take private at RM 4.20

 
Posted by Picasa

Tanjong to take private for 4.4 Billion ringgit

 
Posted by Picasa

郑丁贤‧二公子两则

郑丁贤‧二公子两则
2010-07-29 19:07

亲爱的马荷加尼:

我很希望能够像刘德祖一样,和时尚名媛在游艇上晒太阳,在豪华餐厅喝香槟,住月租10万美元的豪宅……,这才算是不虚此生。

请问,我怎样才可以过这种生活?

小强

亲爱的小强:

你羡慕刘二公子,这是步入资本主义世界的第一步,恭喜你,也欢迎你。

如果你是富二代,那么,基本上,这条道路,你已经走了一半。

然而,我相信你并不是,否则,也不必写信给我了。

但是,不要灰心,即使你自己来不及了,也要让下一代完成这个愿望。

要跻身名流社会,其实有一套公式可以跟随。

首先,要进入贵族学校,譬如二公子的母校哈罗公学,或者是伊顿公学;从小就接受薰陶,改变气质(财力若有不及,至少也要进入本地的国际学校)。

大学要选择美国的华顿商学院,或是哈佛商学院(牛津、剑桥之类的不要也吧,它们培养了太多的学究、反资本主义左派,现在不流行了)。

念一个MBA之外,最重要的是认识权贵家族,尤其是阿拉伯石油王子,或是中国贪官子弟、共青团留学生等。

在校期间,要努力和他们一起吃喝玩乐;没有小组学习没关系,最重要的是每周都要开派对,才会培养革命情感。

毕业后,务必要加入华尔街,汲取基金管理和各类金融衍生工具的窍门。

要多攀关系,经常为特殊朋友订餐厅,买香槟。

结交好莱坞女星和时尚名媛,设法搞一些桃色新闻,刻意让狗仔队偷拍。

只要能够做到这几点,成为名流指日可待。

亲爱的马荷加尼:

刘德祖算是什么? 只不过是有钱的公子哥儿吧了;媒体不需要抬举他。

雷峰

亲爱的雷峰:

我可不这么认为。

刘二公子德祖先生的出现,已经提升全球华人的形象,也大大改变了马来西亚华人的地位。

在过去,不管多么出色的华人,在西方国家,永远进入不了主流社会;即使有钱,有学问,也会遭到有意或无意的排斥和歧视。

不管成龙的电影多么成功,他的搭挡都是黑人;不管周润发多么英俊,片中女主角也不可能是金发碧眼。

这是白人的优越感,也折射了黄种人的自卑感。

因为集体自卑,所以李小龙在《猛龙过江》片中,必须把罗里士打得鼻青脸肿;甄子丹在《霍元甲》把英国人打成猪头炳,全球华人都拍烂手掌。

大家在虚拟世界中找到发泄的管道,通过电影来完成现实中不可能做到的事。

然而,当芭莉丝希尔顿娇媚的身躯,躺在刘二公子宽厚的胸膛;她的香唇触及二公子多肉的脸颊时,华人百年来的羞辱、委曲,刹那间,已经获得解放。

你说,我们不正是需要更多的刘二公子吗!
星洲日报/马荷加尼‧作者:郑丁贤‧《星洲日报》副总编辑‧2010.07.29

Bringing Hollywood to Malaysian shores

Bringing Hollywood to Malaysian shores

Friday July 30, 2010

KUALA LUMPUR: Making Hollywood movies in Malaysia is an important part of Jho Low’s plans to help attract investments to the country.

In an interview, Low tells of how he was getting his Hollywood friends like Academy Award winner Jamie Foxx and Leonardo diCaprio to use Malaysia as a location for movies.
DiCaprio: Among Low’s Hollywood friends who are interested in using Malaysia as a location for their future movies.

“They are very interested. It will have a tremendous impact on our tourism profile when this happens,” he said.

Low’s own entertainment company could be investing in such movies as they plan to set up a special entertainment fund that will invest in ventures from fashion to movies.

He also tells of another superstar friend – Usher – who wants to help him start a charity programme for children here to learn the business part of the entertainment industry.

Q: Where does the Wynton Group go from here?

A: Since I am now in the limelight, we expect to launch our new fund sometime in October. Firstly, there is an initial US$1bil real estate and hospitality fund, mainly for investing in real estate, hotels and hospitality projects around the world.

Secondly, we are also looking to launch a US$250mil entertainment fund because we believe there is some synergy between real estate and entertainment.

Q: Are we talking about movies, music or the whole spectrum?

A: The whole spectrum. So anything from fashion to movies and so forth. Lastly, we are also looking into a US$250mil general fund. When I mention all these fund sizes, it is initial first phase equity commitment that we are securing which means that actual fund sizes and purchasing power could be much larger.

An equity of US$1bil could have a potential purchasing power in excess of US$2bil or more after leverage. Coupled with this, our new headquarters will be based in Abu Dhabi and we have committed to 20,000sq ft in Sowwah Island in Abu Dhabi.

We are excited at the growth proposition of Abu Dhabi as a financial hub for the Middle East.

Q: Where is this fund set up?

A: It’s Cayman-based with a fund manager potentially based in either Abu Dhabi or the Caymans.

Q: What is this about you and Usher?

A: I have known Usher for a long time. I met him in New York and I was working with him on Usher’s New Look Foundation which is a charity that assists children who want careers in the business side of the entertainment industry.

I mentor these kids in terms of giving advise on writing business plans, which are things I learnt while at Wharton Business School. We have been talking for the last few months about bringing that programme to Malaysia.

Sometimes it appeals to the younger generation to get inspired by not business people but celebrities who have business acumen.

Q; Do you have a girlfriend?

A: Yes, my girlfriend is my work. Ask my friends and business partners and they will tell you that I sleep only three to four hours a day and I am always working. I love my work.

Q: A businessman once said that to find out where a business is based, all you have to do is to find out where the secretary is based. So, where is your secretary based?

A: My secretary travels with me everywhere I go. So I guess I am based all over the world, although my heart shall always be in Malaysia.

Low dispels talk he received RM500mil airbase job

Low dispels talk he received RM500mil airbase job

EXCLUSIVE
By WONG CHUN WAI, WONG SAI WAN and LESTER KONG

Friday July 30, 2010

Low: ‘I have been getting good feedback from Arabs who have invested in Malaysia’

KUALA LUMPUR: Well-connected businessman Jho Low has dispelled talk that he is involved in the redevelopment of the TUDM Sungai Besi airbase.

“I am not involved – that part I want to make clear. I understand that there are some allegations that I received a RM500mil contract for the Sungai Besi project. That is absolutely not true. I have no involvement whatsoever in the Sungai Besi project and from what I was made to understand, it is a project by 1MDB,” he said in an exclusive interview.

Low also spoke extensively about Middle East investments in Malaysia and what the country needed to do to get more Arabs to invest here.

Q: What do you think Malaysian companies can do in the Middle East?

A: Tun Dr Mahathir Mohamad had great vision when he was Prime Minister with a lot of money that was spent building Malaysian infrastructure which also resulted in Malaysian-based construction companies that have gone on to be leaders in the global construction arena.

There are now many Malaysian companies doing sophisticated construction work in Abu Dhabi, Qatar and all over the Middle East. Overall, Malaysian companies have gained a good reputation there.


Q: What was your first involvement in a government-type project in Malaysia?

A: My first was actually the Iskandar Development Region investment. A friend from Khazanah called me and mentioned that they were looking to invite some Middle Eastern investors to be the core investors and asked if I knew of potential blue-chip investors.

So that is where it started. Eventually, both Mubadala and Kuwait Finance House’s USD1.2bil entry into Iskandar was a big boost for Malaysia.

They have shown their commitment as long-term investors and it is my view that Khazanah and Iskandar Investment Bhd have done a good job.

I have heard some arguments that projects in Iskandar are behind schedule. However, I have been told by a lot of major Middle Eastern developers that it is very important that large development projects are sustainable in the long term. It is better to take your time to be prudent with careful planning and proper execution as opposed to a rush job.

The Iskandar project so far has paced itself well as a long-term project, and the critics sometimes need to appreciate the fact that the objectives of Iskandar is to achieve long-term sustainability.

Q: Have you also been asked about other Malaysian investments?

A: I had also been asked by the previous chairman of Abu Dhabi Commercial Bank (ADCB) for my input and opinion on RHB Bhd and its potential which I was very bullish on for the long-term. ADCB eventually invested a significant amount in the Malaysian bank. That is one of the key investments Abu Dhabi made in Malaysia which continues to show that Abu Dhabi is investing in Malaysia for the long-term.

Q: What about 1Malaysia Development Berhad (1MDB) and what was your role in the Terengganu Investment Authority (TIA)?

A: I was involved in the setting up of TIA from January 2009 to mid-May 2009. The Yang di-Pertuan Agong Sultan Mizan (Zainal Abidin) was kind enough to ask me to assist, given my relationship with the Middle East and insight I had on how they had set up their sovereign wealth funds.

In addition to me, there was an important committee comprising key Malaysians such as Tan Sri Azlan Zainol amongst others, who provided important guidance. There was also input from blue-chip foreign consultants and advisers.

Subsequently, as I understand from news reports, TIA was federalised to become 1MDB. I don’t play any role in 1MDB, and I did not get compensated by 1MDB or any other government-owned entities although some blogs have mentioned that I did. That is untrue.

However, I do from time to time speak to friends in Khazanah and 1MDB to get their input and ideas on how to better facilitate investments from the Middle East to Malaysia or vice-versa.

Q: How did you get to know the Yang di-Pertuan Agong?

A: His Majesty’s sister Tunku Datuk Rahimah introduced us. She is the chairman of Loh & Loh Corporation Bhd, whom I met as a fellow shareholder of Abu Dhabi-Kuwait-Malaysia Investment Corporation (ADKMIC).

Q: How did you get involved in UBG Bhd and what is the latest on the sale to Petro Saudi?

A: In January 2008, I was invited to participate as a shareholder of ADKMIC. The other investors included Sheikh Sabah, Yousef Al Otaiba, and few other prominent Middle East and local investors. I had a 10% share.

This private investment company was set up for investments in Malaysia, and it participated in the UBG transaction because we saw UBG as a good company in terms of growth and the construction business. Un-fortunately, the world was hit by the financial crisis and infrastructure jobs in UAE slowed down.

We subsequently received an offer from Petro Saudi and we decided to exit this investment. We were informed by Petro Saudi that they believed that companies like Loh & Loh and Putrajaya Perdana had good potential to expand in Arabian markets.

Q: One of the biggest problems Malaysia has is attracting FDIs. What are the things we need to do?

A: Prime Minister Datuk Seri Najib Tun Razak’s recent announcement on liberalisation have been tremendously helpful in building investor confidence for Malaysia. However, there are some investors who are taking a wait-and-see attitude to be convinced of actual implementation.

Previously, there had also been complaints about bureaucracy but this has improved tremendously. I have been getting good feedback from a lot of Arabs who are investing in Malaysia and thus I am bullish in the long-term on our ability to attract FDIs.

Attracting FDIs is not just about going abroad and doing roadshows to sell publicly-listed shares. The FDIs that Malaysia should be pushing hard to attract are those which clearly indicate a commitment for the long-term which result in real multiplier effects and benefits the country.

Malaysia can also be more effective in locking in FDIs by having a more streamlined, coordinated and systematic approach in which heads of states, government officials and private businesses target key investors and offer attractive investment propositions in strategic areas for Malaysia which maximises the short-term economic impact for Malaysia, but also fits the bill of sustainable development in the long-term.

It is also important that all Malaysians make the extra effort of explaining to investors about the potential of Malaysia and clarify some of the negative perceptions of our country.

Billionaire investors accused of making US$550mil through insider trading

Billionaire investors accused of making US$550mil through insider trading

Published: Friday July 30, 2010 MYT 12:19:00 PM
Updated: Friday July 30, 2010 MYT 12:20:10 PM

DALLAS: Famed Dallas billionaire investors Sam and Charles Wyly made US$550 million in undisclosed profits through 13 years of insider trading in the shares of companies on whose boards they served, according to a Securities and Exchange Commission lawsuit filed Thursday.

In a 78-page complaint filed in a Manhattan federal court in New York, the SEC said the Wylys held and traded tens of millions of securities in the companies and "defrauded the investing public" by misrepresenting the Wylys' ownership and trading of those shares.

"The apparatus of the fraud was an elaborate sham system of trusts and subsidiary companies located in the Isle of Man and the Cayman Islands ... created by and at the direction of the Wylys," the SEC complaint stated.

Using this offshore system, the Wylys were able to sell stock worth more than $750 million in four public companies where they served as corporate directors.

They also committed an insider trading violation at one of the companies that resulted in an unlawful gain of over $31.7 million, according to the complaint.

The complaint lists the four companies as Michaels Stores Inc., Sterling Software Inc., Sterling Commerce Inc. and Scottish Annuity & Life Holdings Ltd., which is now known as Scottish Re Group Ltd.

"The cloak of secrecy has been lifted from the complex web of foreign structures used by the Wylys to evade the securities laws," Lorin L. Reisner, SEC deputy director of enforcement, said in a statement Thursday.

"They used these structures to conceal hundreds of millions of dollars of gains in violation of the disclosure requirements for corporate insiders."

Also named as defendants in the lawsuit are the Wylys' investment attorney, Michael C. French of Dallas, who was accused of covering the operation "with a false cloak of legality that was essential both to its concealment and its execution.

Another defendant was the Wylys' stockbroker, Louis J. Schaufele III of Dallas, who was accused of using his position to conceal and misrepresent the Wylys' control over the securities and making insider trades himself.

The Wylys' defense attorney, William A. Brewer III of Dallas, called the charges "without merit" and said the Wylys "intend to vigorously defend themselves - and expect to be fully vindicated."

"At worst, the claims appear to represent an after-the-fact justification for a misguided six-year investigation," Brewer said in a statement issued by his law firm.

Attorneys for French and Schaufele had no comment Thursday.

In March, Forbes magazine estimated Sam Wyly's net worth at $1 billion. He has given generously to Republican causes and candidates, including the Swift Boat campaign that helped re-elect President George W. Bush in 2004 by tarring his Democratic opponent, Sen. John Kerry. - AP

Wednesday, July 28, 2010

More measures needed to attract FDI

More measures needed to attract FDI
TEE LIN SAY

Wednesday July 28, 2010


KUALA LUMPUR: Foreign direct investment (FDI) into Malaysia for the first quarter of 2010 amounted to RM5.06bil, nearly the same amount captured for the whole of 2009, said the Ministry of International Trade and Industry in a statement recently.

It is be worth noting that the United Nations Conference on Trade and Development (UNCTAD) - in its World Investment Report 2010 - last week said that Malaysia’s FDI had fallen by 81% in 2009, trailing behind the Philippines, Vietnam, Thailand, Indonesia and Singapore.

This is in comparison to FDI inflow into South-East Asia in 1980, when more than 35% came to Malaysia. Vietnam had less than 1% of the total. But this changed in 2008, with Malaysia and Vietnam attracting almost same amount (US$8bil).

Over the last three decades some structural weaknesses have appeared. The main culprit has been dwindling private sector participation, which fell to below 10% of GDP last year, compared to a high of 30% of GDP in the 1980s plus an outflow of capital amounting to RM117bil for 2008 and RM54bil for 1H 2009.

AmResearch Sdn Bhd senior economist Manokaran Mottain said that changes can be seen in the Government’s approach towards FDI - under Prime Minister Datuk Seri Najib Tun Razak’s administration.

“Several key initiatives having been undertaken, including liberalization in key sectors of the economy, like 100% ownership in 27 sub-sectors of services sector; the Economic and Government Transformation Programmes; New Economic Model and 10th Malaysia Plan to spur the economy,” he said.

Manokaran said that in order to achieve average growth of 6% as targeted in the 10th Malaysia Plan for Vision 2020, and to attract more foreign investors, the Government will introduce public-private sector partnerships, as it re-defines its role in business.

For example, Government-Linked-Company’s (GLC) and the private sector are expected to joint venture to re-develop Government land into commercial and residential projects.

“If the Government needs to boost the rate of private investment growth to 12.8% over the 10MP period, we need more affirmative policy measures as follows,” “After achieving the 10th most competitive nation status this year, we expect the Government to further revamp corporate tax policies, to further increase competitiveness with our neighbouring countries,” said Manokaran.

He added that Malaysia eeded a revamp in personal income taxes to promote incentives to work and relocation of talents/ entrepreneurial and technical skills to Malaysia.

Manokaran said that the Government can also consider other forms of incentives such as rebates, tax preferences to encourage relocation of businesses to Malaysia and provide a more competitive business environment, from manufacturing to financial Increase in job opportunities.

Other forms of incentives include further liberalising caps on foreign ownership, and providing grants and incentives to encourage Malaysians to undertake world-class research.

He added that Malaysia needs to review immigration policies to facilitate the entry of “best of brains” in fields of knowledge economy.

Tuesday, July 27, 2010

What a World record?

 
Posted by Picasa

Taek Jho Low spent 5 million ringgit a night

 
Posted by Picasa


Blogger: The writer of the above article basically commented that Mr Low's 5 million ringgit can put to good use. Actually, Mr Low is probably making US 500 million a year and 5 million ringgit is only less than 1 % of his income. He can afford it. These monies were his own money. It is none of our business. We should be more concern on the government's spending and its leakages because we are the tax payers and government's spending is our money. Don't bark on the wrong tree. To Mr Low, that 5 million ringgit might be an investment for him. He wanted to secure more consultant business so he made himself famous. Spending 5 million ringgit might get him 500 million dollar business. Who knows? Mr Low is a different class of people. He has his own thinking.

Quality is more important

 
Posted by Picasa

Monday, July 26, 2010

Mahfuz: Najib should quit over FDI plunge

Mahfuz: Najib should quit over FDI plunge

Jul 26, 10 6:50pm

PAS has blamed Prime Minister Najib Abdul Razak's performance as finance minister over the drastic 81 percent drop in foreign direct investments (FDI) in 2009.

NONE Commenting on the United Nations Conference on Trade and Development (UNCTAD) report released on Friday, PAS vice-president Mahfuz Omar (left) said foreign investors are now avoiding Malaysia because of rampant graft and a questionable legal system.

"Foreign investors will invest elsewhere because they see a chronic bureaucracy, where they are forced to pay cabinet lobbyists, cabinet ministers' wives and their families," said Mahfuz in a statement.

He adds that foreign investors are also wary of the flawed legal system, citing the unresolved case of the VK Lingam video controversy, the BN takeover of Perak and the second sodomy trial of Anwar Ibrahim.

azlan"These examples gives the impression of 'law of the (jungle)' and not 'rule of law'," he said.

A CEO would have resigned

Mahfuz said that if Najib's role was to be compared to that of a chief executive officer, the premier would certainly have to resign.

"The prime minister is the CEO of a country and is responsible for bringing returns to the country... The 81 percent drop in FDI has stripped Najib of his qualifications to be premier and finance minister.

"Najib should step down gracefully to save 1Malaysia and his 'people first, performance now' slogan," he said.

Mahfuz also cites questionable management of government assets such as conglomerate Sime Darby Bhd, Federal Land Development Authority, and banking giant Maybank Bhd.

azlan"They (foreign investors) don't see the culture of accountability and responsibility," he said.

The UNCTAD report showed that Malaysia continued its downward trend in attracting FDI since 2007 and the drop in 2009 was massive compared to neighbouring countries such as the Philippines, Indonesia and Thailand.

Critics said the report had spawned red flags for the economy which needs immediate attention, while the premier and the Finance Ministry have yet to officially respond to the matter.



突然死亡●陈金阙

经济眼:突然死亡●陈金阙
2010/07/25 6:11:08 PM
●陈金阙 财务规划者

世界杯热潮刚过,犹记得有一阵子球赛规则改变,引进了黄金进球,即如果正赛时间踢和,进入加时再赛时间,任何一方成功进球,比赛马上结束,该进球是为黄金进球;而普遍上,我们称那段加时进入突然死亡阶段。在大马股市,新近推出的牛熊证(Callable bull/Bear Certificates)其实也是有“突然死亡”的潜规则存在。

投机者肯定笑不出

联昌国际在7月推出4项牛证,成为东南亚首家推出该项产品的证券银行,引以为豪。只是,这一次的负责人挑选股项,似乎有看错市之嫌,其中一项成功机构(BJCorp-JA)竟然在短短5天之内触动回购价(Call Price),黯然下市。也许他想要借机创造另一个东南亚纪录吧,不过,买到该牛证的投机者肯定笑不出了。

与一般结构凭单不同的是,牛证设有回购价。一般结构凭单,不论是欧式或美式,都会交易到期满。牛证虽然也是一样,不过,如果母股不幸被人抛售,一路向南,结果触及回购价,该牛证将会马上停牌;如果下一段交易时间再被售至比回购价更低的价格,推出的银行将会进行结算,作废该牛证,我们戏称该牛证已经“突然死亡”。

我们不晓得联昌国际是以什么标准来选择以上4支“牛股”,认为它们牛气冲天,不过,其所选股项的成功机构牛证在短短5天内下市,是相当难以让一般散户接受的,更让那些推荐牛证的股票经纪万劫不复,成为千夫所指。

蝇头小利却毁声誉

回顾成功机构牛证5天交易量总共两千万股,价钱介于8.5仙至14.5仙之间,如果,结算价(估计)为3.5仙,可以说购买者全军覆墨,只有献售者(即投资银行)赚钱。以首天交易价平均约13.5仙(第一天也是最高交易量,当天交易价为12至14.5仙)来算,1000万股净赚100万令吉,着着实实让不求甚解的股民吃了记闷棍,上了宝贵的一课。不过,联昌国际其实也不好受,赚个蝇头小利,却输了声誉,以后要推出任何新鲜产品,肯定闻者退避三舍,宣传上百倍困难,事倍功半。

同样的,现在轮到其他三只牛证的股民开始感到担忧,因为以大马的股市,要母股做到它们的回购价,是绝对可能的,成功机构已经身先士卒,警惕你们了。所以,要投机,也要做做功课嘛,不要被股票经纪蒙骗(有时他们也是受害者),更不要以为出名投资银行推出的必属好货明牌,有时被坑了也欲哭无门,虽然说这是自由买卖市场。

回说成功机构,这回真是屋漏偏逢连夜雨,刚刚赌球执照被撤,股价又不争气,被人卖压到喘不过气来,搞到看得起它(而推出牛证)的联昌国际一身蚁。不过,近来成功机构频频买入其子公司的子公司成功多多股权,不懂是否希望成功多多会发放一些特别股息,为它冲冲喜,改改运程。

我们还能拿啥争外资!●杨名万

经济眼:我们还能拿啥争外资!●杨名万
2010/07/26 6:02:20 PM
●杨名万

联合国贸易和发展会议(UNCTAD)《2010年度投资报告》一针见血揭露,马来西亚吸引直接外资的黄金时代已成为过去。

根据这份权威报告,大马吸引外资的黄金时代是于1980年代,而1990年代开始放缓,到了新的21世纪年代渐趋没落,目前更是本区域外资出走排在首五名的国家。

本栏刚在上周二提醒那些大玩种族“权威”牌的政客,不要在资金净外流时刻大耍“权威”,挑战国家的投资能耐,联合国贸易和发展会议的这份报告,证实了我们当前的处境。

防恶性循环

我们目前可以为着今年首季双位数增长沾沾自喜,更可以为着我们还能进一步刺激的国内需求而宽慰,但是,缺乏国内外投资推动,我们的经济走不了多远。

其实,直接资金净外流现象早已可从统计局的国际收支数据中反映,上周本栏也提到过去3年净外流现象,即2007年净外流逾93亿,2008年近261亿,去年再净外流逾229亿。只不过统计局的数字只能让我们知道,从我国往海外投资的资金多过海外流入国内资金,却无从知道这些到底是国内企业扩展至海外,或是直接外资外流。

联合国贸易和发展会议的年度投资报告却暴露外流的资金绝大部分是直接外资。这恐怕会形成恶性循环,因为国内不少中小型工业是靠支援直接外资厂商生存,直接外资外流会连带影响这些中小型工业的生存。

多次接触到国内中小型业者,都听到他们叹生意越来越难做,想到海外临近国家如印尼“求存”,当时不明白个中情况,还一直劝说海外国情不同风险高。现在开始明白,他们的客户大厂正往外移,不得不做好打算。

优势变劣势

直接外资外流,国内资金也出走,恶性循环,缺乏投资支援,最终,我们不但无法支持庞大的制造业出口,恐怕连国内市场都不能支持。这当然是极端想法,但是,仍然不容忽视。

《南洋商报》上周末访问工商界和副财政部长林祥才,列出了令外资却步的7大弊病。当中有5个是和政府有关,包括官僚、繁文缛节、“小拿破仑”、无实效招资手法、招资受宗教限制,另两个和投资环境有关,即人力缺乏和社会治安问题。

官僚与繁文缛节等问题由来已久,在外资蓬勃时期也早已存在,只是1980年代我国正经历经济低潮,当时官员还颇循规蹈矩,没有像后期和政客挂钩这么猖獗,更不会像今日“小拿破仑”到处立山头。

在列出了这些阻碍外资流入的问题后,当局更该问的是,我们还有什么条件或本钱可以拿来吸引外资,或者更恰当的说,如何和其他国家竞争引进外资。

过去,我们可以对外说我国三大民族和谐共处,多元文化,各有所长,又懂得尊重忍耐,对于外资来马,绝对是优势。这情况并没有改变,但是目前已不能再被诠释为“优势”。

天才白痴只一线之差,这优势遭白痴政客为了私利耍弄所谓的“权威”后,马上就变成了劣势,外资有太多选择,不会浪费时间听政府解释,更不会冒风险来投资。

政府与政客都需要认真思想,我们还能拿啥去和其他国家争外资!

Malaysia Second Home, MM2H, Malaysia My Second Home, Second Home, Malaysia Property, Retire in Malaysia, Migrate to Malaysia, Long Stay in Malaysia, Malaysia PR, Travel to Malaysia,

Malaysia Second Home, MM2H, Malaysia My Second Home, Second Home, Malaysia Property, Retire in Malaysia, Migrate to Malaysia, Long Stay in Malaysia, Malaysia PR, Travel to Malaysia,