politics & economy - pre-amble.

when i read the news about the sacking in June, it gave me a chill. felt to my spine. the sacking is due to RM120 million loss said due to commodity future trading that turn sour. here, i also looking into a potential losses due to some transactions in euro that we failed to hedge which could resulted in loss by thousands ringgit and continue to grow as the euro continue to hike against RM. could i loose my job over it?

we originally had safely hedged 2+ million euro. but then came the variation order of 300k+ euro. we didn't hedge cause the exchange rate already way beyond the rate that we wanted. otherwise we have to suffer losses. i advise them to wait cause i sexpect the euro will come down. but it didn't for a long time and continue to ris higher and higher. and during that time there already various calls that we should put up a strategy to minimise loss. as long as the euro continue to climb agaist RM, the potential loss will be bigger and bigger.

here i am putting my neck. anything goes wrong i will get the kick. but if it goes well, gues who will get the pat at the back. definitely not me! there will be a hero who will take centre stage. that is the risk doing the things that dificult and no one dare to come forward to do it. and i being pushed to carry the burden. got wear red underwear outside and take the bullets.

finally the euro came down. went down below the rate that we wanted. so .. additional gain there. and now it continue to went down. the guy already whisper we should wait. i quickly told them to stop thinking about it. case closed. we are not in the speculating business!

one down. don't know how many still left ...

http://simedarbywatch.blogspot.com/2008/06/breaking-newstwo-senior-management.html