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

To: yard_man who wrote (3835)	5/24/1998 9:32:00 PM
From: Stitch	Read Replies (2) \| Respond to of 9980

tippet, <<Do you feel that everything there hinges on Japan getting its house in order? >> I see Japan AND China as key to the pace of recovery in S.E. Asia. I am not sure how to weight one versus the other and am hoping Zeev and others will take note of this comment and reply. Best, Stitch

To: yard_man who wrote (3835)	5/24/1998 9:58:00 PM
From: Stitch	Respond to of 9980

tippet, All; With reference to non performing loans (NPLs)in Malaysia's banking sector there have been some recent developments that have prompted some favorable comments from Michael Camdessus (IMF) at the APEC finance minister's meeting in Canada. Last Wednesday Anwar announced the formation of an asset management company to deal with NPLs in the finace sector. This company, to be funded by the government, private sector, and foreign investors, will aim to acquire the assets of defaulting companies and manage them into a turn around this relieving the banking sector of the burden. All this prompted Camdessus to comment favorably on the move and say: "Malaysia is a good case of a country which has been able to dialogue with the IMF to preempt the crisis and to strengthen it macroeconomic and financial position in time to escape from the most severe consequences of the turmoil round" It seems to me that Camdessus has perfected the art of "bureaucrateeze" especially well, including taking license to turn a noun into a verb (i.e. dialogue) and apply geometric shape attributes to turmoil (i.e. round). Of course this could just be the poor reporting of the New Straits Times which is guilty of all kinds of English gaffs. In their rush to report only good news they become especially clumsy. Interesting to me that The South China Morning Post seems to have more freedom in unbiased reporting even though Hong Kong is now under China rule. The papers here in democratic Malaysia are terribly biased and under heavy government influence. Some questions: What is the details of funding? How are they going to manage to turn around these defaulting companies? Is there a pony in this pile? best, Stitch