Thanks again everybody. What's happening here in Asia is a crisis of confidence. The countries here are trying to reform their economies in a jiffy to show the world they're not all corrupt and decrepit. Singapore, near faultlessly clean and trying very hard to become an even greater financial centre, is trying to lead the way.
Now, if buybacks are not approved, this will send a HORRIBLE signal to the world that the government here is still the old, suspicious, dynastic, closed-minded, feet-dragging, bureaucratic monster we had all feared it was. This could very well send the whole market here, and much of Asia, into another tailspin. After all, if something as innocuous as buybacks is not approved, what chance does RADICAL reform have?
Of course, the government isn't all that. And it has shown lately to be admirably responsive. That is why it does not take a genius to figure out buybacks will be approved. |
