Thursday, December 10, 2009

Bailing Out Japanese Companies?

Funds are drying out in the country. Many of our local companies are facing tremendous problem surviving in this economic downturn.

Yet, our brilliant deputy prime minister has suggested to Malaysian investors to purchase ailing Japanese companies, which have the technology that can be utilised by the country.

We have done the same thing in the past. Remember how Proton was created? Mitsubishi sold us an outdated technology. What about Lotus? Did the national car maker, Proton, benefit from the acquisition of Lotus?

Proton is still plague with a low quality perception problem. It is still not an innovative car maker which can compete with the world's best companies.

Justifying his call, Muhyiddin Yassin said this was because the Japanese economy was in dire straits due to various internal issues, such as difficulties in obtaining workers, increasing costs, the inability of banks to fund projects and problems faced by its government.

Aren't we facing the same problems? Why should Malaysian investors put their money into ailing Japanese companies? Do we have the right skills, management know-how and market connections to help turnaround these companies?

He added, “Some companies are almost bankrupt but have the potential to rise again. Now, Japan has opportunities and if we can afford it, we can purchase companies which have the technology that can be brought back to Malaysia so that it will be ours.”

If we can really afford it, the government should spend the money to reinvest in the local companies, improving our education system, enhancing our public infrastructure and renew the urban areas.

As though there are not enough disasters in the country, Muhyiddin is trying to create more overseas. Can any real economists speak up?

The Japanese host must have served the deputy prime minister the best sushi and Kobe beef.

40 comments:

Anonymous said...

aiyah Khoo, you don't have to take Muhyiddin seriously la...this bugger is a dumb fool !!

Just look at his face, you think he knows about business or investment ??

Muhyiddin best trade would be Ali-Baba scheme and 'project kelentong rakyat' !!


Fahya

Anonymous said...

Evidently,DPM and his team knows nuts about Japanese thinking and manufacturing process.They only know about sushi,saki kobe beef and 'kabuki'.They are the world's most nationalistic society! Japaneses' Industrial& Commercial Network is very wide and effective. They are always on the look-out for new products and budding Companys to invest in inside and outside of Japan. What DPM was presented and shown are fallouts or rejects.
Just tell him to shut up after a good feast.

Anonymous said...

Kobe beef is not halal lah. Yet most hotels in Malaysia have no qualms in passing it off as halal.

As for Malaysians buying Japanese firms, we will essentially be buying scraps.

PE firms and local competitors would have swooped to consolidate domestic market share by buying out ailing competitors.

Peasent said...

The problem over here is we chant the same looping mantras without finding innovative ideas to spur the ailing economy. What makes us think that we are far superior than Japan to acquire their bankrupt companies is so much to wonder. Are our ministers really good at economy or just come up with some old fashioned ideas just to impress the people ? I guess the latter is true.

Christy said...

I really am fed up with the amount of nonsense spewed by our dumb ministers day in day out. We are suppose to be on par with Singapore in terms of Brain power, human development, and political maturity. Sadly we are far behind other countries around the region.
The comments coming from our DPM is a sign of 'how much more can we the NEW GENERATION of MALAYSIANS" take?


We the ones who will inherit this country should send a strong and clear message that the politicians should get lost and shut their mouths for their time is over. We the people are not in the mood to talk to these idiots who day in day out do nothing but play politics.
As if they are the clean, corrupt free who preaches like priests to the citizens who they treat like 2 years olds.

Your "GOO GAA GOO GAA" days are over. The citizens are not blind and they can think and make their decisions on who is BullPOOING and who's not. You for one Mud is pooing a BIG DUMP and don't think we don't notice the smell of BS.

Anonymous said...

government should just get out of business; especially this Malaysia government and its cronies so called GLCs, they know nuts about business.

Konichiwa said...

KKP, you forgot to mention geisa girls! Anyhow if these ailing companies are still worthwhile,their local bussinessman will have bought it over,no need for you to rescue.

Anonymous said...

I am getting on in age and have not many more years left. I have no one around me anymore. So my only concern living here is that I pray that these guys do not bankrupt the country and deprive me of my pension for the life that is left in me.

Jong said...

Haven't we been taught "Charity begins at home"? Yes, there's so much lacking - public infrastrucure, areas of education that needs to be looked into back home yet, this nincompoop feels putting one's head on Japanese chopping board has cherry blossom fragrance to it, no? Guess he's trying to show he hasn't forgotten his master Mamakutty's "Look East" policy. Idiot!

Anonymous said...

Wah, M'sian so rich, ah? A third-world country trying to bail out/rescue a 1st-world country's companies.

Take it easy, man. He is merely saying to appease the Japanese - typical UMNO wayang kulit (wayang only - talk is murah, YEN is so EXPENSIVE now).

clearwater said...

Muhyiddin, known to be a very rich man from his days as Johore MB, should use his fortune to buy distressed Japanese companies, its technology and work culture, and continue the Look East policy of Mahathir. That really would be putting his money where his mouth is and showing Malaysia Inc the right way forward. His fortune was made during Mahathir's reign after all.

Anonymous said...

What can we say about him......

JUST STUPID. WHERE THE HELL HE COME FROM?

Anonymous said...

Khoo,
You forgot the motorbike company that was bought by the Maha Bros(Mahaleel & Mahatir)on behalf of Proton which was then sold for 1 Euro?

Forgot the name of the bike but looks like Malaysian gomen don't learn from their bloody stupid mistakes but instead repeats them because they are not held accountable for their mistakes.

Anonymous said...

Talk big only.There is a Chinese saying" They know how many hairs you have " in other words " The Japanese know how much money you have". Malaysia has not much money left so do not bullshit in front of the Japanese - if you do not ask any loans from them is already a blessings for the Hatoya san

Next time if you happen to be in Uncle Sam territory please shut your gap -Please do not even mention that CIMB want to buy Citibank -an ailing bank which CIMB can transform.

Anonymous said...

Hello, Muyiddin was supposed to go to japan to ask them to come to Malaysia to invest. Instead they asked HIM to come to japan to invest.

Now he realizes. Not everytime we go to other countries to ask for help and we get it. I'm sure he has tried europ, UK, US, Australia, Singapore, China, and maybe even Russia.

Now he knows what it is like when people tell him, "Sorry, dude, but we can't help you any more. You're on your own now".

Jong said...

Anon 4:52pm,

Spot on! Good that you remind us. It's MV Agusta sold for 1 euro, Harley bought it for US$109m.

http://anilnetto.com/accountability/proton-sold-mv-augusta-for-1-euro-harley-buys-it-for-us109m/

telur dua said...

This proves what a katak bawah tempurung he is. A third world country wanting to bail out a developed country? And when the Yen is at an almost all time high? LOL.

He must be imagining Malaysia is very rich. If it is rich in the past, it no longer is the case now. UMNO has made it such.

Living in an Ivory Tower for too long has made him dumb.

Anonymous said...

Good idea. Also buy all the space crafts left over from Post cold war USSR and the entire technology would be ours so that we can send out as many astronauts as we like.

Anonymous said...

I know for a fact muhyiddin has a few condo's in the klcc area alongside his bkt damansara home,there maybe more of course...but then again maybe he's just really hardworking ;)

marcus63 said...

umnoputras are not called rent-seekers for nothing. they crave mega-projects and mega-purchases so they can get a cut of the commission. they dont care a shit where the $$$ comes from as long as they get to pocket ??% of the total sum. who got the commission for the maybank purchase of bii, at over-inflated price of rm4.6B?
do we need the scorpene submarines? rm500mil commission you say? who cares if the scorpene gets stuck in the malacca straits mud? we can expect every umnoputra minister to outdo each other with bigger and bigger projects; 100 storey towers, super bridge to sumatra...bankrupt the nation while still in power eh?

Anonymous said...

STUPID ASSHOLE ! I THINK THE HOST FEED HIM WITH SUSHI PORK. THATS WHY HE BECOME SMARTER.TALKING ABOUT CHIN PENG AND COMPARE WITH JAPANESE DURING THE WAR THEY CUT OFFF MANY OF THE MALAYSIAN HEAD !!!SO SHOULD WE HELP THEM OR HELP OUR PEOPLE.THAT SHOW WHAT TYPE OF LEADER HE IS.SOON MALAYSIA WILL BE WORST THAN ZIMBAKWE AND SOMALIA.ONE MALAYSIA WILL SHIIIIT YOU.

Anonymous said...

Clearwater is spot on. Put his money where his mouth is. It is not a surprising idea from Malaysia who have many experts from the many bail outs of companies belonging to cronies. After all it is taxpayers' money. Put our house in order first.

Anonymous said...

Adoi, another act of mujahedeen, committing self sacrefice for others???And this dude would think everyone's like Warren Buffet, i.e buy companies at cheap, proliferate and then sell at high price. It really depends on which company and field they need to set foot otherwise the pluge would eventually be "bailed out" with public funds....maybe monies has been so easily available for this guy for so long without knowing what are the risks ahead.

Jeffrey said...

I have always respected your views and insight but I'll have to on one point.
Firstly, I wholly agree with you that it should be local Malaysian companies who should be prioritized and assisted in these times of need.
However, your reasoning that Proton was created on outdated technology is inaccurate and baseless.
Proton Saga launched in 1985. It was based on the third generation Mitsu Lancer which is model year 1983-1987. Which means that the technology was contemporary then. It was Proton's own fault which resulted in the Saga being labeled as old technology.
Proton has had various direct and indirect benefits from Lotus. While the Satria GTI was no match for its contemporaries (in the form of Civic Type-R, etc), it was highly regarded by Autocar UK for its handling; which Proton credit Lotus for. Lotus has made a great recovery in the performance/sports car business and in my opinion, that has got to benefit Proton financially as a shareholder.
We might or might not have the right skills or know how to turn around ailing foreign countries but I would rather see Ringgit be given to a creditable foreign company than being squandered on undeserving local crony businesses.

Anonymous said...

You all have missed one important point.His mission to Japan was publicised to get Japanese investment into Malaysia.Since he did not get any,and spending so much time on other 'activities',what is the most obvious thing to do to hide his failure to sell Malaysia? Buy Japanese lah!

Mavericko said...

With this kind of stupid idiot minister at helm... Malaysia is Doomed, Boleh lah cam ni!

telur dua said...

How much Ringgit do we have in exchange for Yen?

Not enough? Never mind, just print some more. Print enough to buy the whole of Japan. LOL.

Peter said...

This DPM is actually suitable to be Penghulu of a small kampung. By sheer luck he is made a DPM, much to the disappointment of the public.
Do you think he knows what he is talking about? Toyota is loosing money, hey, why not ty our luck on it? Muhyddin Yassin can help to buy it!!!
He thinks that buying a company is as easy as buying roti canai or pau!! This is a real bloke!!!

Anonymous said...

Khoo, I think you should not mislead the public based on their sentiment against the gov on any issue. You starts to oppose anything from gov just for the sake of opposing.

Buying ailing Japanese companies may not be a bad idea. This could be an opportunity to acquire technology (even though they may be outdated) which we would not have developed in the 1st place. At lease, some bargain buy can be found and it is a cheaper way to boost our ability for R&D.

Khoo Kay Peng said...

Anon 3.04pm,

First, identify yourself. Let those who hire you know what is your stand on buying ailing companies.

Let me ask u some questions; why are these companies ailing? Companies with the most cutting edge technology are not ailing e.g. Apple, Sony, Panasonic, LG, etc. More on the list.

There should be no short cut to creating our own technology. Acquisition without the right know-how is baseless and a waste of money. Do you know that our film e-village has the most sophisticated production equipments but does not have any local engineers who know how to use them?

You accuse me of misleading the public. Perhaps like many others, you are only good at labeling. Debate me. Show me proof.

Bargains? When you buy over these companies you are buying over their debts too. Otherwise what does it mean by 'ailing'? How much more do we need to throw in to turn them around?

Please try to sound smarter.

Anonymous said...

Muhyiddin's trip to Japan is a zero - a flop. No investments so he side tracks the whole issue by asking Malaysians to but dead bodies and give them life.
I suggest Muhyiddin ( who is already a multi-millionaire) to buy one such companies first and show us how he will reincarnate it.
Does he think the Japanese employees, with the skills, are going to give their time, nergy and commitment to a Malaysian owned company.

yes said...

Shall we send the DPM back to school?

telur dua said...

Malaysian Corporate history is filled with RTOs (Reverse Takeovers). And uniquely Malaysian, very small companies are capable of taking over some giant corporations, like an ikan bilis swallowing a shark. LOL.

So, Moohyddin's plan is to RTO the second biggest economy in the world ~ Japan ~ starting with some ailing Japanese companies. Malaysia Boleh, mah.

The USA and China better watch out. You are next. LOLLLLLLLLLLLL.

Anonymous said...

BRAIN DAMAGE DPM I WONDER IF HE BECOME PM.MY GOD DARE NOT IMAGINE WHAT HAPPEN TO MALAYSIA.STUPID ASSHOLE!!!

Anonymous said...

I may be one of the last to comment and looking at all the adverse comments against the DPM, it is beyond any doubt that he does not know what he is talking about. The trouble with most of our politicians is that they speak without thinking. Nobody in his or her right mind whould utter such nonsense in regards to buying over ailing Japanese companies and so on..... it is not only a stupid idea; it is a MADMAN'S thinking.

charleskiwi said...

Let us not forget the Japanese once conquered Malaya and the many atrocious tortures it inflicted on the people !
Let them rot !

Anonymous said...

KKP,

How much stupid are they gonna keep going..???

We, the people in the business, if we think it was a good idea, would have bought it without "him" saying it lah......!

Save your "own" country first..!!!!

Stop giving projects to your cronies..!!!!!

But......... in the end, it's just a waste of my saliva as we will be ignored of our resentment...!!

KKP, even with your comments, have they ever "buck up" or "rectify" any of their misdeeds...????

Don't think so..!!!

Anonymous said...

Muhy may have a point, an old one!

Malacca welcome Chinese expatriates and gangsters from China in order to rule. Now it's the reverse! They're working for China!

The gangsters are still at work in PKFZ. It's the same old story despite all the hoopla of sugarcoats of technology and mistaken bizness know-how!

A whole lotta shit lah!!!

Anonymous said...

pls enlighten if our local Aeon bought over the giant JUSCO !?

Jong said...

Anon 11.21,

Aeon is another Japanese investment group that bought over Jusco. The bought-over effected in Japan many years ago.