Thursday, February 19, 2009

Investors' Faith in Barisan Nasional

Further to my blog post last night with regards to a letter I have received defending the interests of investors and bondholders in the water concessionaire issue, there was a comment which highlighted that these investors and lenders who 'invested' blindly (without sight of the concession agreements) should not be protected.

Actually, chances are the bondholders do have "special access" to these supposed OSA agreements and documents (its only when opposition politicians get their hands on them, there's a problem ;-)).

But more importantly, these "investors" invested on the basis that the BN Federal Government would always act in the interest of the concessionaires as most of whom are cronies to UMNO. Hence, in all probabilities, many of them invested based on "faith".

Nobody expected the result of the March 8 elections last year and the subsequent focus of the Pakatan governments to give the people a "new fair deal".

Should the investors (or their advisors) then, be compensated for their blind faith in the BN government, at the rakyat's expense? You tell me.

(Remember the days when people invested and lent heavily in UEM, Time and Renong because they believed that BN will always back and bail them out - should these investors and lenders be compensated not only for their losses but also additional profits? BN bailed out UEM, Time and Renong alright, they rescued their cronies - remember Halim Saad? but left everyone else high and dry)

2 comments:

Anonymous said...

Of course, Businessmen do business are always based on "Faith"..even though received all kinds of Consultants' reports & recommendations..! However,the reality is : Business is about "Money"(Risks)..Not about "Justice"..Only the Rakyat (Social)is concerned about "Justice"(fair & reasonable) ..But Politics is seeking for "Power" even they could not win " the Hearts & Minds of Rakyat..!That's reality..that's okay..!
Since the offer made by the Previous B-end Selangor Government on behalf "for" RAKYAT" was a Fair & Reasonable offer and is guided by and in compliance with the terms and conditions willingly signed by all parties in the concession agreement..It's, of course,binding upon the Current PR Selangor Government...so the Investors' must be in the higher spirit of "FAITH" in the present Government UNLESS "something is rotten in the Concession/Faith" of the Unknown/Mystery(Do Not Want To know ......!
The situation now, heated, among the investors (or better known as Cronies) is losing the "Faith" in the B-END Government in view of the Present Administration, NOT about the Concession...BUT THE PASS MISDEED & MISMANAGEMENT & ABUSIVE OF UNKNOWN CONCESSION..be disclosed day by day...!Just wait.& see..! Let's the God tells us....sooner or later...!

True Fiction said...

Tony

Investors are business people - they will go for a deal no matter how one sided it is so long as it makes them money. So I don't hold them responsible on a similar basis that you'd expect a tiger to bite.

As a one who ran a business previously, I am sure you understand.

The people whom we should hold responsible are the ones who were supposed to look after the people's interests when negotiating with these investors/businesspeople/tigers. If these peoples' representatives and agents have been negligent or were not diligent enough, GO AFTER THEM.

Statute of limitation is 7 years. There is still some time left.

But you should not penalise the investors unless you are absolutely sure you do not need to worry about how others rate your country's sovereign risk (e.g. cost of foreign funds or credit) in the future.