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I just cannot understand the situation. While local non-bumis are denied a chance to participate fully in the economic and educatiobnal activities in the country, the government has decided to give foreigners incentives. What a cuckoo.

Sydput,
you mean you haven't read the Khairy Chronicles? The answers are in there:
http://www.malaysia-today.net/Blog-e/2005/08/khairy-chronicles-archives.htm

Dear Sydput,

U need not worry about giving singapore a chance. The unpalatable truth is , singapore is not in the least bit keen.The fiasco about parkway, clob, etc is very much in singapore mind.U see, singapore did not ask to take a look but was actually asked to take a look. To give face ,we said ok la, to promote goodwill. Do u think, the singapore goverment is not aware, that not a single mega project in malaysia has provided the returns to justify the investments ? Everyone knows the project has very questionable r.o.i, especially since it's more of a cronies get rich scheme. Pricing is going to be inflated and the well connected will get the profits before the project is even completed.

Singapore has learnt a very valuable lesson especially with the " shin " issue in thailand. The lesson never invest in the companies owned by children, cronies of pm and other well connected figures, even if everything complies with the laws of that country.

What malaysians might not be aware of is , with falling fdi, malaysia dont have much of a choice. A project that size cant be internally funded without costly cut backs from other areas. Hence the selling trips by malaysian ministers.

So to give face, singapore jus says, let us take a look. When we do take a look, it's our well read accountants that will take a hard look, e answers are already starring in our faces. Dont invest big, for the sake of goodwill, jus throw a few millions to keep malaysian happy.

So no worries about singapore investing into malaysia, singapore is not really keen. Oh yes btw u might want to check what khazanah is doing in singapore. They together with some local partners will be creating one of the biggest "hard assets" insurance companies. Malaysian companies are more than welcome to invest in singapore. We wont say no, singaporeans are smart , they know, they are going to benefit eventually. We are very busy globalising our economy and we understand how capital flows

Singapore has fallen to No 3 in FDI in Johor after Holland and Korea over the last 2 years and the reasons are obvious. And yet MB Abdul Ghani Othman can come out with a statement that SJER (or SDR or WPI) is “not anti-Singapore”. Signals are louder than action; right from the launch of SJER, the bumiputra contractor’s association has demanded they be given the lion’s share in all the projects. Check out more details at:
http://powerpresent.blogspot.com/2006/12/singapore-no-3-in-fdi-in-johor-due-to.html

The bumi contractors must be helped. But the tenders must be open and the process fair and transparent. There should not be one shareholder taking part in many tenders or through many vehicles in one tender. It should be spread out.

Having said that, they should take lessons from history. Too many of the bumi contractors go in and then find they don't have enough management skills and other resources to complete the job. Or they front for someone else. There are also cases where workmanship is not monitored stage by stage in a project. Or, money has flowed out because the govt paid too much ahead of each phase so that the temptation to abscond was great.

The bottomline is that they should adopt without fail best practices and professional standards so that the rakyats' money, which is ultimately what it is all about - and not money from Umno - will not be wasted again.

One more important matter - the bumi contractors are extremely weak in the area of design. Too many projects have come about where they're still using designs and materials that are outdated. If the architects are weak, they must source for help. If that help comes from foreigners, so be it. Better to have inspiring, enduring design and stable, long-lasting quality than something mix and match which turns out showing poor taste and weak vision.
That goes too for landscaping, maintenance and security.

Each phase of development of a project and each part of a completed project reflects the thought and value put into it beforehand. Rather than do it in haste for generations later to regret, and those generations come from all races, better do it right the first time.

Those who provide support from the side, whether of govt agency or side services, should also realize costs inflated beyond services and goods provided will only hit the state budget later on - that will reduce future projects, as well as increase the load on the state which will not have the means to generate more projects, or maintain existing ones.

Lastly, i am all for helping the bumi contractors if they can also see that the other communities can help where they have the niche skills and resources to help in completing the projects successfully. What's the point of swallowing the lion share and get permanent indigestion later?

Lastly, for the state, if there's one thing you can learn from that puny island down south, learn to plant leafy big-foliage trees, not those palms or shrubs which don't even look nice, such as happening in this 'developed', billboarded state up here. Make Johor a wonderful, open and eye-pleasing state, cool because many, many trees are planted along roads and in housing estates, and maintained well. Make the state liveable so that the rakyats can have a happier ground to feel better about things.

And take care of security. How can a 13,15 year olds get raped while jogging with their parents in broad-daylight? You can have all the best concrete edifices in the world before you, but crime and foul deeds will leave a stench that cannot be erased.

Talking about stench, change those refuse trucks.

This post - for an old Malay cikgu in JB, a simple kindhearted man who gave first meaning to being a Malaysian.

Johor asks: What mixed signals?

Its leaders say they are not anti-Singapore; businessmen here say, show it

Tuesday • December 5, 2006

Christie Loh
christie@mediacorp.com.sg

MALAYSIAN politicians denied yesterday that Johor was sending "mixed signals" to Singapore investors.

Said Johor Bahru's Chief Minister Abdul Ghani Othman: "That is a wrong perception. The WPI (Iskandar Development Region) is not anti-Singapore."

He was referring to the mega project in southern Johor that was launched early last month with an ambitious plan to attract up to RM47 billion ($20 billion) in investments over the next five years. "The WPI is a multi-sectoral development project that is open to investors from everywhere," Mr Abdul Ghani told Bernama.

On Sunday, Prime Minister Lee Hsien Loong said that although the Singapore and Malaysia governments both openly welcomed closer economic ties, the Johor state administration had expressed reservations about Singapore's participation in its massive project. Hopefully, these mixed signals would be cleared up so that investments would flow, Mr Lee had added.

Reacting to that comment, Johor Member of Parliament Shahrir Abdul Samad told Today that the lack of a "singular invitation to Singapore should not be seen as sending mixed signals".

When asked if the southern Johor development zone was priming to be a direct competitor to Singapore, he said no.

"We just started. And obviously, we can only be a direct competitor if we are looking for the same industries or to cut off all links with Singapore. That would be a figment of our imagination," Mr Shahrir explained.

Despite the denials, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) agreed with Mr Lee that the signals were not apparent.

Calling for Malaysia's federal and Johor state governments to both show clearly that they welcomed the people and companies of Singapore, SCCCI's secretary-general Lim Sah Soon said: "You don't want to go a place to park your money when the people don't welcome you."

Personal safety was also a key concern, said CIMB-GK economist Song Seng Wun, a Malaysian citizen based here.

He said Johor's signals could be 'mixed' in the sense that the state government was not seen to be resolving bilateral issues — such as law and order and jams at the Causeway during long weekends — as quickly as it should.

But in defence of Johor, Singapore machine parts maker Innovalues Precision's business director Steven Pang told Today that the state government was sometimes compelled by "political reasons" to make a show of not being "too nice to us".

Added Mr Pang: "They don't intentionally create problems for Singapore investors." In fact, the Johor administration's flexible labour policy has made it easy for Innovalues to hire foreign workers in its four JB plants since 1997, he said.

And judging from a business mission to Johor in August, the state government was "very encouraging" about Singapore businesses taking part in the development of southern Johor, said the Singapore International Chamber of Commerce's (SICC) executive director Phillip Overmyer.

But the association held back from sending a second mission to check out the actual site this year, because there did not appear to be "a complete clarity of vision" between the Johor and federal governments over the project's development.

SICC members are hoping that they will learn more, as they are planning to make their way across the Causeway early next year.

Singapore's SMRT wants
Johor monorail stake

By Ravi Nambiar
news@nstp.com.my

Business Times
December 5 2006

SINGAPORE'S public transport operator, SMRT Corp, is keen to participate in the Johor Baru Monorail project, which is an integral part of the logistics hub being developed in south Johor.

SMRT, which is 55 per cent owned by Temasek Holdings - the Singapore Government's investment arm - has offered to take up equity in the RM3 billion monorail project.

Jalur Mudra Sdn Bhd (JM), the company given the Letter of Exclusivity by the Johor State Government to build and run the planned monorail system, said that SMRT is also keen to become the technology partner or project manager for the JB Monorail.

"The Johor government is open to SMRT's involvement. We are evaluating their proposal. We believe this is a win-win proposition," said JM chairman Datuk Rashidi Mohd Noor.

He said that one possibility being explored was for JM to operate together with SMRT a line linking Johor Baru to either Woodlands, Keranji or Bukit Timah in Singapore.

"This could either be a joint venture or separate arrangement under a subsidiary company. Our priority is to link all important localities, including Singapore," he added.

Rashidi said that as a private finance initiative, JM was free to work with any interested party to make good the monorail system. To date, its other partner in the project is the Johor Baru City Council (MBJB), which will hold 30 per cent equity.

The JB Monorail will be unique in that it will be based on the "maglev", or magnetic levitation technology. This is an advanced technology in which magnetic forces lift, propel and guide the trains over an elevated guideway.

Rashidi said the monorail would initially serve a 13.5km stretch from JB Sentral in the heart of the city to AEON Tebrau City along the Tebrau highway, which has been identified as the most critical passenger logistics corridor.

Another 50km of lines will be added subsequently to serve the Skudai corridor up to the Universiti Teknologi Malaysia campus.

A circle single track is also on the cards to serve traffic around the central business district of Johor Baru.

Rashidi said the monorail is the best public transport option for Johor Baru because it affords efficient use of space and energy with minimal air and noise pollution.

"Rail-based systems such as the monorail are superior to buses because they provide higher passenger-carrying capacity; faster, smoother and safer travel; and occupy less space," he said.

Various innovations will be introduced, including an automated fare collection system, seamless movement of passengers during peak hours and transfer from train to train.

"We are working on the basis of a masterplan which will ensure that all parts of the city and adjoining suburbs will be connected by 2021. By that time, more than 50km of monorail tracks would have been laid," Rashidi said.

The monorail is an integral part of the Johor Government's plans to enhance public amenities and services in Johor Baru, in line with the Federal Government's plans to position the city as one of the country's new growth corridors.

Dear Stan Sukhwant,
the shin affair showed that Thaksin has put personal interest ahead of the interest of the nation. The fact that temasek has used nominees to control the company, contrary to thai laws that stipulate max 49% foriegn ownership for telcomunicaton sector indicated that thaksin must have given temasek the assurance that their investmnt would be safe. Recent report indicated that singapore is now the money laundering centre of asia for ill gotten gains from indonesia and china (and presumably malaysia and thailand as well.)
As for attracting investment in malaysia, with the cartoon characters from umno in full swing at the recent assembly including one kris wielding minister, i don't expect any singaporean of chinese descent to rush into johor(the education minister's home state) for investment. It was not the chief minister the singaporeans was reffering. The idea of connecting the JB monorail to singapore's MRT is a good idea. pity KTM did not indulge into this earlier, as i understand the KTM railway lines passes next to senai airport and would have complimented it as a low cost hub connecting it to tanjung pagar(cbd singapore).
As for khazanah, I am weary of them. They have been investing heavily overseas using taxpayers money and loans guaranteed by the nation. And nobody is questioning their motives.Seems to me like KJ and gang is involved.

I shudder to think what will happen to this country even if only 60% of the kj chronicles are accurate.

sydput,

The use of nominees for investments in Thailand has been the common practice all this years. The authorities there have been closing one eye, if not both eyes, all this while. Now they are in the fix - should they go after Temasek only? This will be seen as unfairly singling out Temasek. Or should they go after everyone who infringed on this rule - which is practically most of the foreign investors? So, now they are stuck. What now? Either way, foreign investors won't take it kindly. This is a classic case of politics getting in the way of business and not getting one's own house in order and blaming it on foreigners. Sound familiar to you?

Business Times Singapore
06 Dec 2006

SMRT keen on JB monorail project

Proposed line into S'pore calls for new crossing

By PAULINE NG
IN KUALA LUMPUR

SINGAPORE'S SMRT Corp has confirmed its interest in a RM3 billion (S$1.3 billion) monorail project in Johor Baru that would require a new link across the Johor Straits to connect Singapore and Malaysia.

'SMRT has indicated interest to participate in the Johor Baru Monorail project,' an SMRT spokesman told BT yesterday in response to query.

'We are open to various forms of partnership and are waiting for details regarding the project from Jalur Mudra Sdn Bhd for our consideration.'

Jalur Mudra is the concession owner of the JB monorail project. Although details are still being finalised, the company plans to connect the proposed JB monorail to Singapore's MRT network across the Causeway.

Jalur Mudra director Nebojsa Novakovic told BT the company will propose to the state government that the Johor monorail be linked to Singapore at either Woodlands or Kranji MRT stations.

The proposal calls for a new crossing to be built into Singapore.

'We must not touch the Causeway because of the political problems,' Mr Novakovic said, referring to the inability of Malaysia and Singapore governments to come to terms since 1996 over a new bridge project to replace the Causeway linking the two countries.

Apart from the proposed three to four km Singapore link, Jalur Mudra is finalising details of two other lines - a 20-km Skudai line and a 13.5-km Tebrau line.

According to Mr Novakovic, SMRT wrote to Jalur Mudra expressing interest in participating as a consultant to the project, or as an operator or stakeholder. Asked if Jalur Mudra has decided on the scope of SMRT's involvement, Mr Novakovic replied: 'Probably all three.'

He said talks are still at an early stage, 'but there's genuine interest on both sides'. The two parties have met several times and talks are now centred on the business model to be adopted.

Jalur Mudra - a special purpose vehicle - has been awarded a letter of exclusivity by the Johor state government to construct and operate the monorail - one of Johor's bigger projects under the 9th Malaysia Plan. According to Malaysia's Business Times yesterday, Johor Baru City Council will hold 30 per cent equity in the project.

The three-line rail system would run on Chinese maglev or magnetic levitation technology.

Work could begin within six months of the signing of a concession agreement. Mr Novakovic said that because it would be an elevated railway, no expensive and time-consuming tunnelling would be needed.

Jalur Mudra had estimated daily ridership of the Johor monorail at 98,000 passengers, but numbers would rise dramatically with the additional two lines. Some estimates say up to 200,000 people cross daily between Singapore and Malaysia, so the proposed monorail link between Johor and Singapore would prove the most lucrative.

It would also facilitate the development of Johor's multi-billion dollar Iskandar Development Region.

Dear ktak,
I believe the thais never did blame any foreigner in the shin corp dealings. The way I see it, it was thaksin that duped Temasek and got all the money tax free by ammending the tax code. The money from the sale is definitely not in Thailand. however in order to get Thaksin, Temasek may have to bear the brunt of the law apart from the loss due to drop in share prices. Fines are already imposed on Shin corp owned TV stations for breaching guidelines. (Air asia is another shin corp partner). The usage of nominess in business dealings in order to comply with local regulations include many businesses in malaysia complying with bumi quota and local laws. However, reputable businesses are hesitant in using nominees as they know that it is a legal black hole and not 100% safe.

sydput,

I think your reply is meant for "TheWrathOfGrapes" and not me.

In my opinion, the Thais are not happy that Thaksin made so much money from the sale of Shin Corp and yet do not have to pay tax.

If they have complied with the Thais law and pay the relevent tax, I am sure that he will not be booted out. Of course there are other political factors too as this is quite a complex issue.

Perhaps "TheWrathOfGrapes" can respond to your reply.

07/12/2006 07:57
DJ SINGAPORE PRESS: Temasek Changes Chief Investment Officer.

SINGAPORE (Dow Jones)--Singapore's state-owned investment company Temasek Holdings Pte. Ltd. (TEMAH.YY) has replaced its chief investment officer, with Jimmy Phoon assuming the position in place of Charles Ong, the Straits Times reported.

Ong, who has been given the newly created post of chief strategist in which he will "support the review of markets and the development of longer-term strategies," has embarked on a six-month sabbatical, the newspaper said, citing unnamed sources.

The move comes as Temasek continues to grapple with its controversy-hit US$3.8-billion takeover of Thai telecom conglomerate Shin Corp. (SHIN.TH) earlier this year, the newspaper added.

Temasek's purchase of a controlling stake in Shin from the family of former Thai prime minister Thaksin Shinawatra - seen by many Thais as a selloff of a strategic national asset - sparked protests that culminated in a September military coup that toppled Thaksin.

According to the Straits Times, Temasek said the change in chief investment officer, who overseas all investment decisions, wasn't in response to the fallout from the Shin Corp. acquisition.

"We periodically rotate and reassign responsibilities as part of our organization and staff development program," the newspaper quoted a Temasek spokesman as saying.

Phoon, a former Standard Chartered Bank investment banker, joined Temasek in 1999. He has been in the limelight recently for his stout defense of Temasek's investment in Shin, which is being scrutinized by the Thai authorities.

sorry about reply mess. perhaps Jeff should study delphi forums format. it is much more fiendly in terms of everything, including editing your own post if there is an error. and any reply goes to the persons personal e-mail address. very convenient and user freindly.

to add to sydput's points, pls. find a way to increase the size of the Comments box that is used for people to write.

also how to make bold text, change font to palatino linotype, add pictures and graphics, copy and paste from pdfs, etc.

thanks.

when sydput writes, i also sit quietly.

Genting International-Star Cruises consortium lands Sentosa integrated resort project

By Wong Siew Yong, Channel NewsAsia | Posted: 08 December 2006 1737 hrs

SINGAPORE: The Genting International-Star Cruises consortium has aced the Sentosa integrated resort project.

The result which was announced at a press conference earlier came as no surprise as analysts had picked Genting as a frontrunner right from the start.

Its $5.2b Resorts World At Sentosa will leverage on international brand names like Universal Studios, which will design 16 new rides specially for the resort.

Besides the Universal Studios theme park, there will also be 3 other water-themed attractions including a surf pool.

Visitors will be able to observe some 700,000 fish species in one of the world's largest oceanariums.

Genting's proposal also includes six hotels and a spa with over 1,800 rooms for both leisure and business travellers.

Earlier, market watchers had picked Genting as a favourite to win due to its Asian experience.

The resort is expected to attract 10 million visitors and generate $15b in tourism receipts by 2015.

The Sentosa integrated resort is expected to be ready in 2010. - CNA /dt