tag:blogger.com,1999:blog-7415005633854131763.post6785234868730597798..comments2023-10-01T05:31:16.871-07:00Comments on Wenger J Khairy: His Highness Means BusinessWenger J. Khairyhttp://www.blogger.com/profile/18074977147521188723noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7415005633854131763.post-90918340145830857512010-03-08T01:47:24.734-08:002010-03-08T01:47:24.734-08:00Ghani should lecture Wenger on the Economics porti...Ghani should lecture Wenger on the Economics portion for CFA L2. PS: Love your post on analyst forum - HilariousAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7415005633854131763.post-30870855673168071022010-03-07T23:29:39.757-08:002010-03-07T23:29:39.757-08:00In the government's and judiciary's attemp...In the government's and judiciary's attempt to shore up Mamak Zombie Pangkor Pele's flimsy hold on the Menteri Besarship of Perak, they forgot that there are other states in Malaysia. Now, the UMNO stronghold of Johor might be a goner due to the stupid attempt at helping Mamak Zombie Pangkor Pele's Menteri Besarship. Yes, the absolute power granted to the Sultan by the decision favouring the Sultan of Perak's "appointment" of Mamak Zombie Pangkor Pele as Menteri Besar, is also binding on other states. The newly appointed Sultan of Johor gleefully knows this, and knows that the power invested on the Sultan that his father lost (largely due to the actions of another Mamak, Mahafiraun) has been regained, by the inadvertent decision of the "learned" judges. <br /><br />The MB of Johor knows that his days are numbered, and has <a href="http://www.nst.com.my/Current_News/NST/articles/20100307135237/Article/index_html" rel="nofollow">fallen ill</a>. He knows that his <a href="http://viktorwong-socialaffairs.blogspot.com/2009/11/politics-at-johors-iskandar-getting.html" rel="nofollow">underhand attempts to ensure that his UMNO cronies get the maximum benefit from the Iskandar project</a> are at an end. Well, I think he should start thinking of retirement... or if he thinks he's still too young... another job.Not a Mamaknoreply@blogger.comtag:blogger.com,1999:blog-7415005633854131763.post-74612263298138572192010-03-07T21:14:21.915-08:002010-03-07T21:14:21.915-08:00Now, now Wenger, just as there's a difference ...Now, now Wenger, just as there's a difference between Husqvarna the motorcycle company and Husqvarna the chainsaw maker, there's a difference between Johor Corp. and Johor State.<br /><br />Johor Corp is as implied the 'corporatised' State Economic Development Corporation (SEDC), basically it is Johor's GLC, with wide ranging business including property development, plantations, hospitals, fast food franchises and other lucrative businesses. It is led by the capable Tan Sri Ali Hashim (who incidentally looks just like Colonel Sanders of KFC).<br /><br />Johor State is the state government itself, led by a former economics lecturer from UM, Dato' Ghani.<br /><br />Johor Corp. as understood is very profitable, as explained, they even own the franchise for KFC in as far as India. Sure, there were disastrous deals, the spectacular fall of Amanah Saham Johor (ASJ) which was the 1st and 'successful' state investment fund among the many highlights. Johor Corp. is still a very much envied SEDC among SEDCs, the only rivals might be Sarawak's and Selangor's.<br /><br />Johor state meanwhile has debts almost as big as MV Agusta's, your figure of RM80billion may not be far off the mark. Mismanagement of funds is the name of the game.<br /><br />I am not an economist, it is just something good for some late night reading, so apologies if I cannot point you to a link with the figures for both Johor Corp. and Johor State.<br /><br />All I can say is that there is no love lost between Tan Sri Ali and Dato' Ghani. <br /><br />One day Johor may come to the federal govt. with bowl in hand expecting a bail out just like Dubai did with it's neighbour.kgpadangbalangnoreply@blogger.comtag:blogger.com,1999:blog-7415005633854131763.post-20804232839546199122010-03-07T20:35:57.043-08:002010-03-07T20:35:57.043-08:00Monsieur KgPadangBalang,
There are very pleasant ...Monsieur KgPadangBalang,<br /><br />There are very pleasant people in Johor, and I was perhaps wrong in my over generalization. My apologies.<br /><br />Wow - Johor SEDC has a mountain of debt??? Interesting - remember i never really did a full analysis of Johors accounts. But I do know that all debt issued by the SEDC is backed by the Fed Govt right? Interestingly debt backed by the Fed Govt (as opposed to straight out Fed Govt debt) increased by abouy RM 8 billion last qtr to amount to something like RM 82 b. I guess one dig around and find out the exact story - so I ain't making any hard judgements.<br /><br />Johor is in deficit??? Wow - thats news. Really that is something very strange. If only I have the time, I'd dig deeper, could you forward some link for me to look at.<br /><br />To me the management of Iskandar is awful. Really I don't mince my words - RM 700 million investment into Legoland?? Is that the best these guys can think of. We don't need an IDR for Legoland. And worse still Lego Corp aint taking the risk. <br /><br />Aiyoo, our country lacks really any sound management talent. Ever since Dr M, we are using the country's wealth as an ATM, and freely giving money away to foreigners while we fight each other on the shrinking pie. I think its ridiculous.<br /><br />I read about the MB passing out, but while it looks coincendtal, I really have no sympathy for a guy who is playing golf. Really as MB there are more important things to do. <br /><br />As Ivan Drago in Rocky IV said,"if he goes, he goes" (paraphrase)<br /><br />But I have high hopes for HRH. He seems determined to shake things up, and I will support that.Wenger J. Khairyhttps://www.blogger.com/profile/18074977147521188723noreply@blogger.comtag:blogger.com,1999:blog-7415005633854131763.post-436826975527345872010-03-07T19:40:59.440-08:002010-03-07T19:40:59.440-08:00Wenger-san,
I am still a Johorean at heart even t...Wenger-san,<br /><br />I am still a Johorean at heart even though I have relocated to KL.<br /><br />Please don't hate Johoreans just because of one running Big Dog. Yes, I am quite ashamed that I too went to the same MRSM as said person (animal?), hopefully I won't turn into someone like him in the future.<br /><br />As for Johor, everyone know Johor's state debt rivals MV Agusta (heh heh). The state is basically kept afloat by the awesome might of the SEDC aka Johor Corp. As long as people in Malaysia and even Singapore, Brunei and India are munching on KFC and eating Pizza Hut, Johor will have money to survive.<br /><br />There's also the question of Iskandar, where huge pieces of land have been sold off to foreigners in a bid to lower the state deficit, land including Danga Bay situated directly in front of HRH Sultan Ibrahim's Istana Bukit Serene. The late Sultan was never pleased with this arrangement, that's why every time there was an election the PM himself would descend to the Istana to 'negotiate' an appropriate arrangement.<br /><br />I heard rumours that the current DPM was persona non grata to the late Sultan after the fiasco known as JB Waterfront City.<br /><br />Also, did you not catch the news of the current MB passing out during a round of golf directly after the Sultan's announcement? Ominous signs....kgpadangbalangnoreply@blogger.com