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Strategies & Market Trends : Asia Forum

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To: Worswick who wrote (6162)	9/4/1998 9:06:00 PM
From: B Tate	Read Replies (2) of 9980

Worswick Things are looking bleak here at the moment. (is it always darkest before the dawn?) Bank Negara continues to "adjust" the new rules on a daily basis. Seems as though this was not thoroughly studied before implementation. Yesterday it was announced these were "temporary" measures, whatever that means. I expect that provisions will be made to aleviate some of the difficulties expats are dealing with, specifically joint and multiple current accounts. I would also expect the trading account rules to be relaxed within the next 60 days or so once they see that volume on the KLSE is nill and the small investors are actually beneficial to the stability of the exchange. Spoke with the Managing Director of an international venture group yesterday. They still have money to invest here and are actively looking at opportunities. His comment was "as long as the funds are not publicly traded, where they have to worry about monthly and quarterly results, there will still be a lot of availability for funds. The difference being that they have all shifted their qualifications to the more conservative side." Makes sense to me that some of these folks will take the long view and capitalize on it. I had a private email from one of the folks on the thread asking about the situation since they were planning a trip to the area this winter. My response was basically "check back with me in 60 days" and we will all have a better handle on the future. I have actually been somewhat surprised at the international investor's response thus far. Seems as though they are fairly split over whether or not this is a good course of action for Malaysia at this time. Time will tell I guess, these folks are a hell of a lot smarter than I. Regards bt

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