Worswick
I see one or possibly two on the list that I have down in a book to keep an eye on. The best of the lot is problem TeleCom Asia. Can't tell you exactly what caught my attention. Maybe the fact they earn hard cash ( UD$ Marks etc. via their long distance business.) This is also true of the Phillipines Telco where a large segment of the population has ties to the US and Europe. (Lots of wartime relationships I suppose ).
Berjaya Sports Toto is a lottery organization and its true that most of their outlets have ques in front of them every time I pass them. Malaysians do spend a substantial portion of expendable income on various gambling schemes. - KLSE is the most prodigious gambling concern on the planet - I'm not sure of the actual percentages but it is probably measured in whole % points. Add that to the rest of the "sins" and you may be correct.
SDarby took another hit yesterday, me thinks this downturn in the market is directly related to the problems in Indonesia, paramount of which is the currency games being played.
The local market here has seen a pretty good bump from 'retail' players and they are very concerned with the goings on across the Straights. There was an article in one of the weekend papers here that alluded to the fact that foriegn investors had not returned to the KLSE, yet. While they are ready and poised (their comment not mine)regional "problems" have slowed the process.
There are probably over 700,000 domestics working in the country from Indonesia, most working obviously for the types of people who have the cash to invest. They keep in close touch with their families back home and some of the stories are horrifying.
OPION:
To those members in the US - While there are arguments for and against the IMF and its policies, now is NOT the time to rebuild the system. Political motivations are making this an issue for those sitting in front of their televisions watching the nightly news after having engaged in filling their stomachs and before they go into the den and log-on to check the daily results of their portfolios. They have not a clue what it is to be hungry, or naked, or sleeping in the open. Ask any mother of four you can find how she would plan to feed her family on $5.00 a month. The point is that the IMF probably is badly flawed, however to try and "fix" it in a time of crisis is nuts. Making it a political football is inhumane to say the least. Stabilize the situation and then change it. In the case of Indonesia we have the worlds second largest population on the "endangered species list". If this region disintegrates you will feel the effects in Dover-Foxcroft Maine, Biloxi Mississipi, Mojave California, Gnome Alaska and all points in between.
Sorry for the rambling folks
bt |
