Malaysians are having a bonanza time in the travel arena. Near free air tickets to international destinations are offered by Air Asia, Firefly and lately even MAS. What does all this mean to our economy?
It all depends on whether we are attracting more foreign tourists than the number of Malaysians going overseas. If the prevalence of budget travel has resulted in more Malaysians jumping on the bandwagon, then the local economy would probably suffer a bit. Local tourist destinations would probably have fewer visitors. Also, Malaysians doing their shopping overseas while on holiday would be buying less at home.
If the budget carriers have attracted more foreign travellers to the country, then the economy should be better off. The tourism revenue would be increased. This would improves our country's balance of payment. But, my gut feeling is that this is not the case.
Tuesday, December 16, 2008
Wednesday, December 3, 2008
Poor MCA
It is a pity that the MCA has not had a strong leader for the last 30 years. All the leaders had not been strong characters and a few of them were embroiled in personal business problems. What this means is that the Chinese community was not well represented. They were at the losing end of a power sharing alliance.
The latest one is no exception and to my mind the worst. From day one, he has decided to relegate his deputy. He has decided to divide and rule. He thinks that his faction alone will be able to run the show. And he has the cheek to tell the community that he is not sidelining his deputy. Who is he trying to fool. His action smacks of arrogance.
The deputy president of MCA may not be the most holy of all man. But, he is legitimately elected. He has the support of most of the grassroots in MCA. This point should be considered. He is also a capable leader. His talents should be tapped for the betterment of the community.
It is said that unity is strength and division is the recipe for disaster. So the new MCA president better get smart and learn to live with his deputy. Only by working together can the MCA be strong and be well prepared to represent the community.
Look at Obama. He has appoint his opponent in the primaries, Hilary Clinton, as his secretary of state. He has also appointed a republican senator as a member of his cabinet. The MCA president should take a lesson from him.
The latest one is no exception and to my mind the worst. From day one, he has decided to relegate his deputy. He has decided to divide and rule. He thinks that his faction alone will be able to run the show. And he has the cheek to tell the community that he is not sidelining his deputy. Who is he trying to fool. His action smacks of arrogance.
The deputy president of MCA may not be the most holy of all man. But, he is legitimately elected. He has the support of most of the grassroots in MCA. This point should be considered. He is also a capable leader. His talents should be tapped for the betterment of the community.
It is said that unity is strength and division is the recipe for disaster. So the new MCA president better get smart and learn to live with his deputy. Only by working together can the MCA be strong and be well prepared to represent the community.
Look at Obama. He has appoint his opponent in the primaries, Hilary Clinton, as his secretary of state. He has also appointed a republican senator as a member of his cabinet. The MCA president should take a lesson from him.
Tuesday, December 2, 2008
Fundamentally wrong investing?
For a retired person, it is always recommended that you invest conservatively. Take little risks and aim for a steady income. By this, it means that you invest in some low beta stocks while has a high dividend yield. Try to preserve capital.
For a GLC, its investing principles should be the same as that of a retired person. Take no risks. However, this GLC seems to be doing the opposite. It is selling off its safe assets like power plants and buying much riskier assets like investment banks - worst still USA ones. Billions of dollars are at play.
Will it pay off? Probably only time will tell. But, as of this moment, I think it is sitting on a huge paper loss. Big brains are supposed to be running the company. I wonder how those guys are feeling now.
For a GLC, its investing principles should be the same as that of a retired person. Take no risks. However, this GLC seems to be doing the opposite. It is selling off its safe assets like power plants and buying much riskier assets like investment banks - worst still USA ones. Billions of dollars are at play.
Will it pay off? Probably only time will tell. But, as of this moment, I think it is sitting on a huge paper loss. Big brains are supposed to be running the company. I wonder how those guys are feeling now.
Subscribe to:
Posts (Atom)