Here we go again!

Hardly three weeks has passed since the mighty fall in the Shanghai stock market that sent the rest of the world into a selling frenzy. And in a blink of an eye, we are nearly back where we started.

Stock markets are recovering and investors are brimming with confidence again. The pain of the last three weeks have largely been forgotten. And with most markets close to their year highs, one wonders whether it will all happen again... And to come full circle, the Shanghai stock market has already surpassed it's high of the year!!

Our KLSE Composite Index is just 50 points shy of their highs of the year. A lot of feel good news is flowing in: success (?) of Invest Malaysia that just concluded, liberalisation of monetary policies, Iskandar Development Region, good corporate results and upgrades by the international investing communities - fuelling the confidence and growing euphoria in the local stock market. Who would be against the stock market reaching new highs within the next few weeks, especially with the general election to come?

Of course there are external concerns, especially with the slowing U.S. economy, problems within the subprime mortgage markets there, rising interest rates in Japan and China, and recently, rising oil proces (again!), but of course these will be brushed aside unless another major meltdown occurs.

I akin the stock market to a second casino in this country - this is where people pitch in money in the hope to gain more. This is also where the sharks and numero uno predators reign supreme; all others are food to them. The local syndicates and foreign hedge funds play the stock market to their tune and we follow them. To make it in the stock market, one only has not to be greedy! The failings of retail investors in mainly due to greed - if they control themselves and not fail in that aspect a lot of people would have a happier time here. But then that is how the casinos of the world make their money isn't it?

So lets see where the stock markets take us: up or down...

Wishes Do Come True?

Musa: Brief Umno on why it has to give up NEP
Ghani and Shahrir back move to drop quotas

It's like a wish come true...but of course it hasn't happened yet, and I have to be snapped back into reality. Yeesh...UMNO dropping the NEP and relaxation of FIC rules on bumiputra equity a reality? Right... Definitely not when the general election is around the corner!

And why only for projects in the Iskandar Development Region? This should be extended to include the whole country. As well as fair and impartial tendering process for all government projects. That's a start to bring back confidence among foreign investors in our country.

Even as we speak, Telenor's (read Norwegian, hence foreign) 61% equity in Digi Telecommunications (read Malaysian) is still under threat; I am sure a lot of arm-twisting is going on behind-the-scenes to ensure this happens, and that includes the non-award of both 3G and Wimax licenses to Digi. It is so sad that this is happening in the investing community. To them, why give 30% equity to bumiputras (others would call them UMNO-putras) who probably will not do anything to advance their cause, but instead suck the lifeblood (read: money) out of the company - a real parasitic relationship if I ever saw one!

That's not all: foreign companies are relocating elsewhere where restrictions are not so suffocating, local companies are looking overseas to list (on the stock market), and dare I say it, if possible to move operations elsewhere. Perhaps the wiser ones are moving away from this country before worse occurs - seeing that 36 years of NEP have not changed much, and forbid even stifling the competitiveness further, while watching our erstwhile neighbours striding ahead in many different areas.

It is sad this country with it's rich natural resources, sheltered location, skilled manpower and political (?) stability has been much wasted. And if the people in charge don't listen, maybe it's time for a change.

Err...and that would be a dream really coming true!

Something to remember by

Streamyx gripe

Ahh...another article of interest, mainly for old times sake...

300 Wild Hogs...really!

Watched 300 last night...what at a cinema? Of course not...downloaded a screener from the Internet (that's camera version but I guess touched up a bit with a quality improvements). Video is OK but sound is not so good; mostly a bit dark, but all screeners are like that - I guess a trade-off for getting movies fast, and not paying much for a slice of entertainment.

OK, I think that the basic movie premise is correct historically, the acting is fair, and the action is stylised but acceptable. A bit too much gore in it, especially with the chopping of heads and blood-spurting, but enough to quench the thirst of most remaining cinema-goers. A lot have been said about the use of CGI in this movie, to give it the larger-than-life feel, and I agree - personally I am not too excited about it but it does give the movie an extra oomph.

Wild Hogs on the other hand is the more traditional form of movie, and being a comedy it's so so. There are its funny points but all in all I think the movie is just so so, and can be yawning at times. It will still draw it's crowds, and it's place a the box office - with the likes of John Travolta, Tim Allen - what show wouldn't? But I guess biker movies are not commonplace in mainstream US cinema, and worth exploiting?

My comment...300 over Wild Hogs anytime!

A little bit crazy

Feels like the weather had gone a bit crazy over the lat few days. Initially it was blisteringly hot; then came the afternoon and evening rains, and today - heavy rain in the morning!! There goes plans for a picnic...

Wonder whether this has anything to do with El Nino/La Nina phenomenon...or is it related to the global warming problem? Probably both...but I guess we have to endure the dampness and cold (for a change!) for the time being.

No change

Had been going through some local forums and blogs of late...actually more out of boredom than anything else; and there are a lot of pissed off people out there about this TMNet throttling of p2p sites.

Basically TMNet says that 20% of users are hogging 80% of bandwidth (something like that) for p2p use (I guess primarily torrent-ing); as a result other users experience slowdown in Internet access - hence the need for throttling the p2p access.

So the questions are:
1. Why throttle p2p access when this is the original demand that created need for broadband?
Currently throttling seems to be limited to international p2p sites (local connections are relatively
fast) and more pronounced during the daytime - less after 12 midnight until about 8 am!!
2. Why TMNet is unable to increase bandwidth capabilities?
3. Why TMNet is still promoting broadband services, knowing that they are not able to provide the
bandwidth?
4. If TMNet is unable to provide proper services, why doesn't the government allow competitive
services to the public (ie. why the bloody hell is TMNet still monopolising broadband services)?
5. And since late last year - TMNet has been including our download/upload usage in our bills: what
is that for? Is TMNet going to start imposing a limit to our broadband activities?

Personally I feel that the problem lies with the reluctance of TMNet to invest in their infrastructure (read $$$$) and increase bandwidth capabilities. I guess that most of us would pay extra if the services are reliable and consistent. And the fact that lack of competition would make TMNet sit on its laurels, a giant sloth that does not need to respond to changes in its surroundings. I don't get the promotions either; it'll lead to more complaints, duh!!

In this country, people have already accepted the fact that things would not change for the better...not by a long shot, until there is a paradigm shift in the government (change perhaps?). And all Malaysians know that this would not happen even if the fat lady sings...

So what are we to do? Live with it, and just keep complaining...at least there is still an outlet for our frustations!

Sick hospital or Hospital for the sick?

One Sick Hospital








Wah so beautiful ah...

Ahh...another attention grabbing headline in the Malaysian health scene - and the scary part is, it's nothing new! Remember Hospital Pandan in Johor? Same contactor I think. So the expensive Ampang Hospital has got major problems. And it's out in mainstream media for once. Not like my ex-hospital...whose problems are similar to that at Ampang, but has been kept under wraps. Guess it was not so 'fortunate' to be headlined.

But it does bring into light the shoddy workmanship of the contractors appointed to build the hospitals. Mind you it is not a small company, but one of the largest in this country. Speaks volumes of the ability of these contractors, and I shudder to think of their overseas projects. I guess I need not be worried about the overseas projects - I'm sure they will ensure high standards, but alas for us Malaysians as usual, we are being treated second-rate in our own country! Hmm, sounds like what Proton used to do to us locals :()

I'm sure most if not all the other new hospitals similarly constructed will have the same problems and will be swept under the carpet; after all the profits have been made, palms have been greased; what's left is for the poor souls of this country to foot the mounting repair bills year after year...

And the building is only half the problem. The not-mentioned outdated equipment is another. What people don't realise that it takes up to ten years to plan, build and commission a hospital for operation (a government hospital that is) and most of the equipments have been tendered for at the start of the project...if we include the delays into account...that would be about twelve years. You can imagine a hospital that starts operation in 2005 was planned since 1992, and it's equipment are of the mid 90s. But of course we are not so backdated; we have updated equipment, but that means additional money (in the form of variation orders) - footed by the taxpayers of this country - while the original contractor reaps the benefit of its enterprise...

Ultimately we are the losers...the rich get richer, and the people in power...no need to say lah...

Winners!

All-England Champs

So, after a 25-year wait, we finally win something at the All-England championships! Hurrah for Koo and Tan!!

From a scratch pair to world beaters and now world champions, all in a matter of six months - wow!

But they have shown the grit and determination to persevere, beating the top seeds on the way to the title.

Personally I didn't think they would win, even after their win over the Danish pair in the semis. I thought their Chinese opponenents were too strong. Well, I am surprised! They covered the court well and complemented each other; they were especially good at the net. If any, my only grouse is that they can't smash - but then all great Malaysian badminton pairs can't anyway.

This is just the beginning of their journey. Lets hope they make it all the way - perhaps dawn of a new era in Malaysian badminton...

Malaysia boleh!! For good reasons this time around....

Pop!

Well, the bubble burst on the stock market...finally!! It had to come some time anyway; what goes up must come down. In all honesty, stock markets all over the world are a bit superheated, week after week of gains without a correction in sight; something had to give eventually - so this time around it was China, and the rest tumbled like dominoes.

10% isn't that much, considering the gains the markets had made over the last 3 months. But a lot of people (myself included) were spooked that the fall came over a period of five days or so...and just at the time when the retailers were coming into the market. I guess that sent them scurrying back into their little hiding places to lick their wounds.

Personally my experience in the stock markets taught me a valuable lesson...my timing sucks, and I have to be more disciplined in managing my investments - at least I don't have to come to grief that often. But in all fairness, most of my investments are in fundementally good companies and I should not be afraid; just toughen it out and I think I would be OK eventually.

The market will recover eventually. Guess that I have to stick to my investments for the long-term. And the recent falls presented buying opportunities...so who knows? The coming elections will provide the spark.

After all, the government have to make money for the coming elections, doesn't it?