Hello world! This is my alter ego………………….

Am I qualified to talk about the economy, which the mainstream media so bloody bullish about? What does the RM 1 trillion plus trade actually means? Who is actually propping up the stock market that it broke a ten year record yesterday with over RM 4 billion worth of transactions recorded? Is the confidence really back, lately? Which counters are making all these money that there is overwhelming sale yesterday? What is the meaning of RM 1 now, on the streets of Klang Valley?

So many questions and yet limited ‘acceptable’ explanations offered. The truth, as they always say, the test is really in the pudding itself. So I will offer my own ‘street explanation’ about one narrow window of the economy and how that relates to politics (that’ seems to be everyone’s favourite topic, everywhere nowadays!)

Lemme share my experience.

When PM YDP Dato’ Seri Abdullah Ahmad Badawi took office in 31 Oct 2003, I was on my way leaving a GM position in a plc to assume the CEO of a medium sized property development firm. Within few short months, I managed to get financing for the new project, developing high end products in a much sought after 10 acre resort living neighbourhood in upmarket Klang Valley. The BOD was astound of my little success, on my own convincing the bank.

However, I spent the next 18 months weathering all sorts of issues, with the shareholders breathing on my neck and yet I was unable to move a single sen from the RM 24 mil bridging & term loan facility awarded. The bank was very tight and the managers made it almost impossible to draw down, with the most artificial conditions compounding, despite I am able to obtain ALL authorities approval, incl the membership to REHDAM.

So one day I decided to take the bank’s GM for a full golf & spa treat, topped of with a very fine shashimi dinner. Then I learnt the truth!

The past 18 months, the bank developed a worry for where the economy was going, even after “Feel Good” BN’s thunderous Mar 2004 win. The bank can’t withdraw their offer of the RM 24 mil issued and accepted to my firm in Mar 2004 (for the fear of getting sued), therefore they made almost impossible for me to draw down instead. They did not really feel that way when my paper was brought to the bank’s MCM and BOD, for consideration of pre 2004 CNY. Six months later, the managers were getting diffrent vibes on the economy. It seems the bank changed their mind on the man’s manageability. It seems the “Mr Clean” image no longer have any real economic value, especially after the crescendo simmered.

Immediately, I got the drift. The economy is sliding! So, I convinced the shareholders to sell the project of. Then I went on hawking for a buyer for the land and exactly a year later, the sale was concluded. After last year’s CNY, the full cash term was concluded, after a reasonably handsome bonus (thank you, Boss!), I am out on the street.

Today, I am still out on the street. The whole of 2006, I submitted 16 different proposals (not incl some of the corporate deals that fell on my lap) to various cos, some even with BOD approval waiting for the contract to be signed, but nothing was concluded, at all! In short, no one is willing to make fresh commitments in a volatile and unsure heading economy.

SiKenit gets first prize!

I live in PJ and I will still vote BN. Why? YB Chew Mei Fun is a good MP. I am very happy with her service. My father is the resident association president. Our MP really support the neighbourhood community projects. She makes time, despite her busy schedule as the Ministry of Women and Family Development Parliamentary Secretary to come and listen to our grouses and solve our local issues. So I and my missus will still vote her, in the next polls.

The problem with the country now is that its being run by young kuchirats without real market and macro management experience. The problem is about the man who allowed this to happened. Its not about the 199 seat BN reps in Dewan Rakyat. Its about a man who listened to young kuchirats who disguissed themselves as Bono Fikir, Ethaust Consulting et al, giving all the wrong KPIs wannabe solutions for a system which needed an entirely different fixing!

Don’t burn down Rome because of Octavius…………………………….

Published in: on February 16, 2007 at 16:57  Comments (6)