i hate politics. sometimes i got to push myself on politics news either on paper/mag/tabloid or tv or radio. y? cause whether you like it or not, in Malaysia, our politics got direct link with our economy. what happen on politic will have direct impact on our economy.
i donno what to describe my feeling when reading the news about sime darby. link for a glance on it provided hereunder.
if i am not mistaken, current Selangor MB is responsible in taking over sime darby and guthrie from the mat salleh by buying the shares on London Stock Exchange long time ago (i am pretty sure he was responsibe for wrested guthrie from the british). he was then conferred with the position of CEO in Guthrie with some shares option. please be reminded that guthrie and sime darby is under the government via shares hold by Permodalan Nasional Berhad (PNB).
guthrie is more on plantation and properties while sime darby is well diversified onto other areas. mind you ... it is not easy to manage this two conglomerate. even to manage the estates either rubber or palm oil is not an easy task. but with the system left behind by the colonial, the local can do it. kudos to colonial. some genius dunno either from heaven or hell then merged these two into one which resulted in the exit of the current Selangor MB. why hell and heaven. cause some call it eithe way according to their perspective. whether really hell or heaven, time will answer. if hell ... then perhaps it is too late to do anything.
PNB is the biggest fund manager in malaysia created by the genius back then. it is supposed to help both the public and the nation as well. amongst malay ... their Amanah Saham Bumiputra (ASB) may ring a bell. a loud one.
under PNB there is so much invested companies that called government linked companies (GLC). including guthrie and sime darby. also Maybank. so ... any adversed effect on these GLCs will bring disaster to public as well as the nation as a whole. there are other vehicles created by government for such purposes like Khazanah Holdings Bhd. and do not forget the shares held by EPF, tabung haji, various pensioner and EPF similar funds.
thus it is important to ensure that the management both at PNB and GLCs are a sound one. appointed according to merit and their ability and perhaps proven track record. they must have good governance.
and they are appointed by the government, the politician. see the link there?
with the losses currently reported by maybank and sime darby it is time to ask whether the fundamental issue is being addressed. are they managed properly? is there a political interference that affecting them?
about maybank, they used to be the no 1 local bank in malaysia. i am not sure now. but from the public, the news are not good. there are so much complaints on them. slow, non-responsive, not helping bla bla. on the maybank's staff morale? ask them. is the rise of CIMB has influenced in it?
wanna know whether the government is helping you or not, take a look at those GLCs and their direct impact on our life. like Petronas, PLUS, TNB, Telekom, Proton, bla bla bla ...
how about those services supposedly provided by government like medical, education, roads and etc etc.
how about the products and services provided by companies protected or controlled by government (via licensing, permits etc etc) like telecommunication, entertainment, news and bla bla.
how about the goverment policies whether short term or long term that have long affect on our life such as industrial and agriculture policies. on foods at the moment we depend too much on import. once the typhoon hit myanmar then we face with double price hike for rice. what happen if the typhoon hit thailand and vietnam? makan ubi kayu lah kita seperti yang di cadangkan oleh tuan menteri kita tempohari. if we can produce our own food then we can save on our import. less money going out. if we do better at it then perhaps we can do sexport. more money come in thru sexport.
a simple question. why can't the houses in putrajaya be sold at lower price? why can't the houses in other area cheaper than what it is now?
another simple question. why the chinese in kelantan do not have a problem in voting the 'parti bulan' in every general elections?http://simedarbywatch.blogspot.com/2008/10/sime-darby-and-kpmg-obviously-had.html