Screenshots

I can smell our Minister is going to demand an apology and retract from 7DAYS...

This reminds me of a 4 page piece on Malaysia I read on 22 December 2008 in the International Herald Tribune which painted Malaysia as a great place to invest.

My first impression was, "Wow, IHT dedicated 4 pages to Malaysia? I can't believe my eyes."

Only to realise later that it was a paid advertorial.

From the looks of it, it was paid for by the Iskandar development project thingy. I can't remember the other companies that was "featured" in the piece as after realising that it was an advertisement, I just skipped the whole thing.

Fortunately, "smart" investors will notice the different font used and the words "paid advertorial" and make their own informed decision.

It's really sad to read this. Why are we getting this bad publicity? Is it warranted? There are so many other MNCs which have invested in our country, and what does this say to us? I really wonder...

so, who's the real 'Clown'? Who are behind these dodgy schemes? Cronies?

Well, Wolverson has a point. If it is the truth, then it should be published.

He's just providing a fair warning; he's not saying "avoid all Malaysian companies".

After all, Malaysia *IS* the land of "skim cepat kaya" (get-rich-quick schemes). Almost every week, you'll get news of cheating cases, pyramid schemes being shut down, or other financial fraud. Don't forget that our own govt also intermittently issues warnings about "skim cepat kaya". So yes, "hotbed for dodgy schemes" does sound right.

Plus, what the 7Days reader describes does sound like a boiler room operation.

As with any major investment, you need to conduct research and due diligence.

but again who is this Wolverson ? What authority does he have in commenting about malaysia? Financial analyst are all crooks, see what happen they do to the world economy? not to mentioned the giant ponzi scheme in the US of A. How much he knows about Malaysia anyway?

The Star, Jan 14:

Civil servants banned from taking part in get-rich-quick schemes

I rest my case. LOL

2 interesting articles I have come across.

Article 1

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/10/AR2009011002236_2.html

The article above (last paragraph on the 2nd has more details), indicates there is a network of companies in Malaysia aiding Iran to get banned US technology.

Article 2

In a rather longish article in the New York Times, I came across a reference to a Malaysia company, the Malaysian Smelting Co. this is a company listed on the KLSE but it looks like the majority shareholders are Singaporeans.

The relevant page is below.

http://www.nytimes.com/2008/11/16/world/africa/16congo.html?pagewanted=4

on the 2nd last paragraph on this page, it implies that Malaysian Smelting Company is buying Tin from international brokers who source from the conflict zone in Congo.

the exact extract is :-

The flights land in Goma, the provincial capital, where other middlemen buy and process the ore for export. Alexis Makabuza’s Global Mining Company is one of these buyers. Amid the sorting and cleaning equipment of his rudimentary processing plant sit dozens of barrels of tin ore. On each is stenciled the address of Malaysian Smelting Company Berhad, a major tin smelter. Mr. Makabuza said he sold to the company via a minerals broker.

Further reference to Malaysian companies buying tin from warlords in the Congo is here from the BBC

http://news.bbc.co.uk/2/hi/business/7723988.stm

The extract from the BBC article is below :-

Located predominantly in India, China, Malaysia and Thailand, these smelters sell tin to component manufacturers.

So while Malaysian Smelting Co buys from an international broker, it can request that they not source from Congo. If you read the entire article you will realise that buying these ore’s are only lining the pockets of these warlords and destabilising the country.

I e-mailed the company but they have not replied. I would have not replied too in similar circumstances.