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Strategies & Market Trends : Asia Forum

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To: Worswick who wrote (4729)	6/22/1998 9:29:00 PM
From: B Tate	Read Replies (1) of 9980

Worswick I will also be out-station for a couple of weeks until mid July. Going back to the roots, see the kids and gorge myself on lobster and butter and sugar corn! September will bring the end for Malaysia is my best bet. Probably the time you want to be ready for SDarby. After the Commonwealth Games in K.L. the world will know how much of a mess this place is in. Talk about the absolute worst time to be holding an international event. No effective transportation system, international airport so far away that it would actually pay to take a "commuter" flight to the old airport, no water, likely lots of smoke, local party-in-power bickering about cronyism and nepotism within the power structure etc. etc. etc. Interestingly the local papers have been full of denials of the nepotism and cronyism targeted by the UMNO Youth faction of the ruling party. Unusual in that the denials have included "lists" of privatized corporations with major stock holders etc. The papers and the good Dr. M have each pointed the finger at the leader of the UMNO Youth specifically by name. This is not the usual way here, normally it is done by inuendo that is clear enough for everyone to figure out without having to actually 'say the name'. My guess is that the ringgit will be at or above 5 to 1 before Labor Day. With continued declines through the last half of the year. I believe that is why Dr. M and Mr. Anwar are beginning to "alert" the World Bank they will need at least $700 M USD. They will not resort to the IMF since that would be the end of business in Malaysia as they know it. BELIEVE me when I tell you, the only way to do business here is to be willing to shell-out the 'juice' to every thirsty sucker that can get in line! Transparency will KILL this economy. Stitch feel free to jump on this one if you like. I'll leave Japan and the rest of the world to Stitch ;-) (psst he be de mon!) Other than that have a great summer. I will. Regards Bt

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