Analysts: Proton burning up to RM500 million annually.
Judging from how the UMNO-led government is hemming and hawing over Proton's future, an ignorant observer might be forgiven for thinking that everything is going well at the country's first auto maker.
The sad reality is that analysts claim that at the rate Proton is burning cash, it will soon finish its diminshed cash reserves of about RM500 million by 2008. The Asian Sentinel has a good story about the beleagured company here.
People who argue that Proton should be protected at all costs because it provides jobs and creates multiplier effects for automotive suppliers should consider that if Malaysia had adopted the Thai style of car manufacturing, they would have probably created even more jobs by attracting even more foreign marques to set up shop here.
At the end of the day, does the rest of the world really care if there is a Malaysian car?Technorati: Malaysia, Proton
Bursa Malaysia to entice Vietnamese firms to list here
This is interesting. Bursa Malaysia is actually inviting Vietnamese firms to list on the local stock exchange citing one of the region's lowest fees as the main attraction. In fact the first 10 firms to do so will get their listings free of charge.I don't think they've come to the part where they'll be told 30% of their hard earned company equity would have to be surrendered to politically connected bumiputra interests.
Maybank on defensive after "bumi equity requirement for legal firm" gaffe
Maybank is now on the defensive after being identified as one of the 2 banks that have introduced a regulation requiring Bumiputera legal firms’ involvement before any business may be conducted with it.It is inevitable that after forcing smaller and in some cases better-managed local banks to merge and thereby limiting non-bumi control of local financial institutions, that this kind of NEP-type posturing will happen. Especially with institutions that are owned by governtment linked companies such as Maybank.Of all the people in the world, I can't believe they would choose lawyers and legal firms to tackle head-on, knowing full well these are the people who will fight tooth and nail for justice. They might have gotten away with it if they had instead chosen regular small business suppliers and service providers such as stationers and building contractors - whom the UMNO-led government regularly demands bumi equity requirement from before awarding any business.For the life of me, I really don't know how our so-called big local banks can continue to compete with foreign banks when they continue to adopt restrictive equity rulings such as this and thereby severely limiting their access to talent. Another sad day for Corporate Malaysia.Technorati: Malaysia, bumiputra, UMNO
Singapore owns more of Australia than Australia
Interesting little analysis here about how asset hungry Temasek Holdings apparently now owns more of Australia's prized assets than even the Australian Government.Here's the extracted basis of comparison:Residual operating assets held by the Australian Government:
- 17% stake in Telstra: $9.6 billion
- Australia Post: $5 billion
- Medibank Private: $1 billion
- Australian Submarine Corp: $200 million
- Total: $15.8 billion
Australian commercial assets controlled by the Singapore Government:
- Optus: $10 billion
- Alinta energy assets: $4.3 billion
- Victorian electricity transmission monopoly: $2 billion
- Old Texas Utilities Australian portfolio: $5.5 billion
- Property: $2 billion
- Australand stake: $1 billion
- Total: $22.8 billion
Sensitive piece of information given that one of Temasek's earlier investments have now turned quite sour. Technorati: Singapore, Australia, Temasek
Singapore - city with the fastest walkers
Forget the Malay Mail Big Walk - our neighbours down south have won the distinction of being the world's fastest walkers.The findings led by Prof Richard Wiseman are significant as "when people move faster they become less likely to help others, and also tend to have higher rates of coronary heart disease."It's actually a bit of a surprise as I always felt Tokyo and Hong Kong walkers were very much faster than Singaporeans and these two cities do not even appear in the Top 10 list which is as follows:The 10 fastest city walking times:
1) Singapore (Singapore); 10.55
2) Copenhagen (Denmark); 10.82
3) Madrid (Spain); 10.89
4) Guangzhou (China): 10.94
5) Dublin (Ireland); 11.03
6) Curitiba (Brazil); 11.13
7) Berlin (Germany); 11.16
8) New York (US); 12.00
9) Utrecht (Netherlands); 12.04
10) Vienna (Austria); 12.06
Technorati: stress, city life, Singapore
Singapore - city with the fastest walkers
Forget the Malay Mail Big Walk - our neighbours down south have won the distinction of being the world's fastest walkers.The findings led by Prof Richard Wiseman are significant as "when people move faster they become less likely to help others, and also tend to have higher rates of coronary heart disease."It's actually a bit of a surprise as I always felt Tokyo and Hong Kong walkers were very much faster than Singaporeans and these two cities do not even appear in the Top 10 list which is as follows:The 10 fastest city walking times:
1) Singapore (Singapore); 10.55
2) Copenhagen (Denmark); 10.82
3) Madrid (Spain); 10.89
4) Guangzhou (China): 10.94
5) Dublin (Ireland); 11.03
6) Curitiba (Brazil); 11.13
7) Berlin (Germany); 11.16
8) New York (US); 12.00
9) Utrecht (Netherlands); 12.04
10) Vienna (Austria); 12.06
Technorati: stress, city life, Singapore
