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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (2574)	3/7/1998 8:09:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

Hiya Mohan; The latest published revisions in Malaysia call for growth of 3% revised down from 7%. That was announced over 2 months ago. There have not been any new revisions. I will not be surprised if it is worse, dipping even into the dreaded "R" word. There is still a huge lack of transparency, and I believe things are worse then they apppear. The Sime Bank fiasco is a realtively good example. If it had not been for Bernie getting an excellent "tip" I might very well have bought SIDBY. The whispers at Proton are another example, where on top of revisions downward, the contacts are quietly telling favored suppliers it is much worse then even their official estimates. They keep "nickel and diming" the suppliers with ever decreasing forecasts as if that eases the body blow. At the extreme risk of being accused of prejudice I want to observe that IMHO one characterisitic of Asians is a culturally infused inability to admit mistakes and move rapidly towards corrective measures. Better to risk the cataclysim then to confess seems to be the more I refer to here. I hope all who read this will accept that its my desire to make an honest appraisal and not Asia "bash". One can see, that if my observation is even slightly right, it could well hamper any attempts at remediation in the economies here. Best, Stitch