Sunday, June 30, 2013
Sunday, December 26, 2010
Tuesday, May 8, 2007
MAXIS QUITS MALAYSIAN MARKET 09/05/2007
Ananda Krishnan, the majority Owner of Maxis Communications S/B, just announced his decision to take Maxis Private by offering RM15.60 per share for all those 50-odd % he does not own.
This was a hefty 20% premium on the 30/04/2007 closing price of RM13.00 when this share trading was suspended on Bursa Malaysia.
On opening day 04/05/2007, Maxis closed for the day at RM15.30, reflecting that this unconditional offer was well received and accepted by existing shareholders.
The Malaysian tycoon wanted to take Maxis private and out of Malaysia for some standard official reasons: the share is undervalued, he wants to expand and spend billions in India and Indonesia where Maxis has so far invested heavily, but need more billions to carry on. Such activities, it is said, may balk some of its Malaysian short-term investors.
That may be so, but what has not been said and/or discussed in the mainstrean media, by local analysts etc is this nagging question: how much pressure does the Malaysian Government put on the likes to Maxis NOT to spend too much outside Malaysia, but keep spending in this country, which is typical of their Bumi/Malay-centric narrow policies?
Look at what 1 Outside Analyst says: In the Financial Times UK 01/05/2007 piece, there is this following comment, amongst others: "The Malaysian stock market has been one of this year's rising stars, rising 24% in Dollar terms on the back of an appreciating currency and a prolonged palm oil boom. Foreign investors have poured $438 million into Malaysian-specialist funds this year according to Citigroup. But the market - like some of its neighbours - is shallow and politicised. Most of the big names are State-owned. Maxis is the largest by market capitalization that is wholly in private hands. There is little diversity. (Government) banks, utilities and resources hog the top slots. ................ It may be time to cash in Malaysian gains and reinest elsewhere."
This commentary is not rocket science - it is a known fact. But have you wondered why so many of our local analysts (and they are a dime a dozen, all connected to local banks, securities companies etc) and the local mainstream newspapers (Bahasa, Chinese and English-language) have not given their thoughts and slant on this huge pullout in the way of the Financial Times thinking?
Very simple and not rocket science either la!: the local analysts will be out of their highly-paid jobs if they say something as sacrilegious as the FT version. Just toe the official line, man!
And the Newspapers?: Forget It! -They are owned by the controlling Governing Parties in this "Barisan "(Coalition) Government (UMNO for the New Straits Times, Utusan Melayu, and MCA for the Star, and Tan Sri Vincent Tan for the Sun, the "independent" daily - but here too, don't expect free McDonald's which he also owns).
So No Problemo la, Life goes on, so what if Maxis leaves?
Will Ananda also now take private Astro and the satelitte provider Measat, both also on the KLSE? If Measat satelites moves away from Malaysian orbit/the "footprint" it is called, how to see Astro? And the also public-listed power station Tanjong (although home-based UK) on the KLSE? 1 power station short, and with oncoming global warming, maybe life will then me mighty sejuk (cold) la!
This was a hefty 20% premium on the 30/04/2007 closing price of RM13.00 when this share trading was suspended on Bursa Malaysia.
On opening day 04/05/2007, Maxis closed for the day at RM15.30, reflecting that this unconditional offer was well received and accepted by existing shareholders.
The Malaysian tycoon wanted to take Maxis private and out of Malaysia for some standard official reasons: the share is undervalued, he wants to expand and spend billions in India and Indonesia where Maxis has so far invested heavily, but need more billions to carry on. Such activities, it is said, may balk some of its Malaysian short-term investors.
That may be so, but what has not been said and/or discussed in the mainstrean media, by local analysts etc is this nagging question: how much pressure does the Malaysian Government put on the likes to Maxis NOT to spend too much outside Malaysia, but keep spending in this country, which is typical of their Bumi/Malay-centric narrow policies?
Look at what 1 Outside Analyst says: In the Financial Times UK 01/05/2007 piece, there is this following comment, amongst others: "The Malaysian stock market has been one of this year's rising stars, rising 24% in Dollar terms on the back of an appreciating currency and a prolonged palm oil boom. Foreign investors have poured $438 million into Malaysian-specialist funds this year according to Citigroup. But the market - like some of its neighbours - is shallow and politicised. Most of the big names are State-owned. Maxis is the largest by market capitalization that is wholly in private hands. There is little diversity. (Government) banks, utilities and resources hog the top slots. ................ It may be time to cash in Malaysian gains and reinest elsewhere."
This commentary is not rocket science - it is a known fact. But have you wondered why so many of our local analysts (and they are a dime a dozen, all connected to local banks, securities companies etc) and the local mainstream newspapers (Bahasa, Chinese and English-language) have not given their thoughts and slant on this huge pullout in the way of the Financial Times thinking?
Very simple and not rocket science either la!: the local analysts will be out of their highly-paid jobs if they say something as sacrilegious as the FT version. Just toe the official line, man!
And the Newspapers?: Forget It! -They are owned by the controlling Governing Parties in this "Barisan "(Coalition) Government (UMNO for the New Straits Times, Utusan Melayu, and MCA for the Star, and Tan Sri Vincent Tan for the Sun, the "independent" daily - but here too, don't expect free McDonald's which he also owns).
So No Problemo la, Life goes on, so what if Maxis leaves?
Will Ananda also now take private Astro and the satelitte provider Measat, both also on the KLSE? If Measat satelites moves away from Malaysian orbit/the "footprint" it is called, how to see Astro? And the also public-listed power station Tanjong (although home-based UK) on the KLSE? 1 power station short, and with oncoming global warming, maybe life will then me mighty sejuk (cold) la!
MAYBANK'S RACIAL FIASCO 09/05/2007
When are these Bumi Buggers ever going to learn to be honest and truthful?
To insist that every legal firm that has business with Maybank must now have at least 3 Bumi partners of which one must own 50% of this company - what else? It SUCKS! It is racial bias per se, and no amount of word sweetening is going to change their stance here!
After all these years of crappy talk of racial integration, tolerance, mutual understanding, you still have this kind of Policy coming from - what? - the No. 1 local bank in the country? What else is new?
As is typical in all such situations, the PM as the Home Minister, sits on his fat ass and has not said a a word about/against this Policy, neither that that watchcat (can't call them "dog" here, can you, as this beloved pooch is considered "haram"?!) Bank Negara.
So it will take another big hoo-ha before this Policy is withdrawn - if it is withdrawn.
The non-Bumis in this country should show their political and financial clouts by taking their accounts out of Maybank totally and put it in Public Bank or Hong Leong Bank (where got other Chinese banks left?), and teach these buggers a good lesson in how to conduct a good business in these days of globalization. Obviously, even at this stage, Maybank's globe is still kampung-focused, and unless and until they crawl out of their coconut shells, this country will go through another uncalled for, but deliberate shitty act!
To insist that every legal firm that has business with Maybank must now have at least 3 Bumi partners of which one must own 50% of this company - what else? It SUCKS! It is racial bias per se, and no amount of word sweetening is going to change their stance here!
After all these years of crappy talk of racial integration, tolerance, mutual understanding, you still have this kind of Policy coming from - what? - the No. 1 local bank in the country? What else is new?
As is typical in all such situations, the PM as the Home Minister, sits on his fat ass and has not said a a word about/against this Policy, neither that that watchcat (can't call them "dog" here, can you, as this beloved pooch is considered "haram"?!) Bank Negara.
So it will take another big hoo-ha before this Policy is withdrawn - if it is withdrawn.
The non-Bumis in this country should show their political and financial clouts by taking their accounts out of Maybank totally and put it in Public Bank or Hong Leong Bank (where got other Chinese banks left?), and teach these buggers a good lesson in how to conduct a good business in these days of globalization. Obviously, even at this stage, Maybank's globe is still kampung-focused, and unless and until they crawl out of their coconut shells, this country will go through another uncalled for, but deliberate shitty act!
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