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zinglicious
30-09-2011, 06:04 PM
Another wave of takeover in ethnic companies where it has future ramification. The recent ones like the sugar turns into something sour for the rakyat from UMBC to KFC era http://www.themalaysianinsider.com/malaysia/article/glc-moves-spark-questions-about-race-economy/

Henry T
30-09-2011, 06:52 PM
We are used to this sort of modus operandi.

GLCs buy up these companies. Later privatized these profitable companies to cronies. They rape and run it into the ground.

Gomen later buy them back at inflated prices. Taxpayers end up footing the bill. :mad:

zinglicious
30-09-2011, 10:18 PM
Meanwhile all these iconic companies disappeared from the face of Malaysia after raping and looting. :p :o :p

ivanhow
30-09-2011, 10:40 PM
Oh yeah... Dun remember gov saying gov reducing stakes in GLCs? Now, who is telling what? macam cakap takserupa bikin... Shudn't we need to downgrade the words that come out from the cakap-cakap sja 1PM?? Now PNB trying to raid or force takeover of SP setia at a time when the market beaten down by global market concerns. Flexing it's financial muscle on weak easy takeovers in public sector. Holders of SPsetia shud hold and not sell, as PNB swoops-in to raid d market. Soon strong and capable entreprenuers will be wiped out from the face of this great land. How do we expect foreign direct investments to come in with this kind of high-handed tactics? Is SPSetia in distress and needed gov bailout? PNB shud do some national service, and takeover MAS a it's a national asset, 1PM shud be happy if PNB can takeover lar...

zinglicious
01-10-2011, 12:49 AM
You should seen the muscles and methods to force Mr Loo who was holding the KFC franchise then - politically and financially. :eek: :eek:

ivanhow
01-10-2011, 01:47 AM
You should seen the muscles and methods to force Mr Loo who was holding the KFC franchise then - politically and financially. :eek: :eek:How did that happen? Sounds like a corporate big bully who appears not the least bothered as it scares away foreign investors.

The issue here is these GLC's are only meerly looking for good ROI, and they should merely focus on getting returns and not acquiring companies in the stock market. Doing so is like nationalising a publisted company. What 'value-added' do these GLCs bring to the companies that they plan to acquire?

PNB being an offshoot of gov funded initiative shud stay away from killing public entreprenuership and investor confidence by swalling up good and performing firms. Investors looking for value in their investments should not be allowed to acquire the 'golden egg' and 'kill the goose' so to speak. It's going to be a repeat of the same 'modus operandi' just like those that had helped contribute and build this great land to this day, and then kena swallowed up by kingkongs with 'unlimited financial resources' who are not in the business of adding value to the existing setup.

Worse still, the goose may then be BBQed, skewed and cannibalised, leaving the bones for d investors who then suffers from PMS (http://www.lifamilies.com/article/overcoming-post-marital-syndrome-1895.html) (Post Marital Syndrome) after discovering that d party is over. :eek:

If PNB is able to bring value-add to existing well run companies, then they shud be able to turn MAS around like nobody wud. MAS shud be the top in their list of takeovers.

zinglicious
01-10-2011, 04:55 AM
It is not takeover now - it is termed as M&A - Merger and Acquisitions.
But with the opening of regional markets now offering competitive terms, iconic business which sell out would be setting out for green pasture like Sugar King or Lion group which is doing roaring business in China.

The only losers are actually the rakyat who ends up paying one way or another where the M&A benefits a handful of them. If the whole thing get busted, it would be bailed out again and again until it gets faded away like Perwaja, UMBC or Bank Bumi.

In Lion group Parkson case, they should be encouraged with goverment support and incentive where the supermarket chains in Malaysia could even export Management human resources for China supermarket operation and expansion. But it is evident, the Parkson is being mantained with just skeleton management here in Malaysia. Why is that so? It is irony that more support is given to foreign supermarkets like Tesco or Carrefour than our local iconic giant like Parkson. But if you look close enough, it doesnt take a genius to wonder why. :rolleyes:

cml
01-10-2011, 09:14 AM
After their 'takeover' it becomes a giant atm for them and they draw on it till it becomes empty and throws it back at the gomen who injects money and the process gets repeated all over again. So many of the big fellas are actually based in spore now ,living it up on sentosa isand where they have their mega yacths parked outside their doors.They live in a very secure and safe environment and from there they can still do their business cos it is just a hop over from spore. The genting boss is there, so is power generation boss. The ex sugarking has at least one unit there.

okang
01-10-2011, 06:23 PM
This is the consequence you face when you run a PLC with less than 20% shareholding. PNB & EPF has a commanding block of 40% plus shares in SP Setia. Liew's fate is sealed.

Considering the backdrop of slowing growth and worldwide uncertainties, I think he will be exiting the business at a good price. It would be a shrewd move on his side to sell as the property market has already peaked in the 1st half of 2011.

A fool and his money are soon parted. In this case it is the tax payer's money again.

zinglicious
01-10-2011, 06:54 PM
SP Setia rise to stardom is attributed to the person who has built it to what it is today from his humble beginings. He was rising admist some developers giants which were falling in PN5 list. I dont think he would leave or sell if he have a choice even at the current unfavorable market condition after his hard work to built to what it is today. From the days where his family used to sleep at his site office to be the biggest developer in Malaysia almost single handle with his team.
In fact, a champion is made of steel barring the current conditions to adapt the market instead of running away. And I feel Dato Liew is that man given the choice.
If the company is sold without Dato Liew vision, foresight, and management , what is SP Setia with just the shell? Eventually, it would be a junk item after the precious pearl is removed.
Countries that embrace entrepreneurship would spark international success as seen in countries like China or USA. Once the Govt zoomed in and intervene the stardom is likely to be doomed. :(

cml
01-10-2011, 08:30 PM
If he dont want to susah susah he will take the money and walk, well maybe stay for a year to two to placate the market. Like what the gamuda fella did and also the road builder fella. In business there is no loyalty, you can be loyal to your boss but at the end he gets a good price and tell you to stay. The new owners will take care of you. Dont worry. They need good people like you. I was duped and lasted all of 2 months before the new owners made their move and put in their own people.

tupai
01-10-2011, 10:20 PM
So what if this diam fella is making waves by acquiring/buying substantial shares in glc or even sdn bhd (as in 5% of coca cola refreshment malaysia s/b). He is a business man with lot$a what/how/when/whichever gotten gain$. It$ hi$ luck/connection$/$cheme$.

Now fellas, this bid for SP setia is nothing but a willing buyer-seller lah. If the price is right, why wouldn't/shuldn't spsetia sell?

Asketh this:
1. WHY is it that we or sp setia or whoever else (except maybe orig kfc guy, who got really screwed by the gomen, jais, dbkl etc) went/go into business in the first place?

To make a profit lah! NOT for LOVE or emotional gratification lah! :cool:

2. Did the gomen/glc put a gun to the seller's head? 'SELL NOW or i pull the trigger?' This sp thingy and the E&O etc owners need not sell but they will seriously consider and as in E&O, they did...(insider trading aside).

3. GLC making a bid for plc is NOT an act of nationalisation lah!

BAck to the question: Whether the new owner/glc or whoever can make additional profits/lend value to current shareholders/employees at this point, is purely speculative. Hence, prejudging the future management performance is academic. :cool: U dont belive in the new management (regardless of race/color/religious slant, sexual inclination), u dump your shares lah Q.E.D.

also ah, Zing, Merger & Acquisition can work singularly or together lah. It simply aint the same act lah. :cool:

Yang Akan Beli saham TIU xlatotupai :cool:

SiangMalam
02-10-2011, 01:44 AM
After their 'takeover' it becomes a giant atm for them and they draw on it till it becomes empty and throws it back at the gomen who injects money and the process gets repeated all over again. So many of the big fellas are actually based in spore now ,living it up on sentosa isand where they have their mega yacths parked outside their doors.They live in a very secure and safe environment and from there they can still do their business cos it is just a hop over from spore. The genting boss is there, so is power generation boss. The ex sugarking has at least one unit there.Sell the company lock stock and barrel and take the money and go elsewhere... and watch them mess it up. If they can mess up such the once-mpeccably run Slime Darby, they can mess up any company...

Poor Hong Leong Quek and Public Teh and Berjaya Tan - sleepless nights as endangered species... they will come for you too guys! :D

I don't see any sign of Merger & Acquisition here... what I see is a hostile takeover bid! The poor Tan Sri Liew Kee Sin is in a state of shock! What M&A are we talking about here?

zinglicious
02-10-2011, 02:43 AM
It is M & A as reported by the media. Not takeover and it is even term as friendly for the sake of the country of having the largest market capitalisation, landbank and sales and everything in size under willing buyer/ willing seller basis.

But interestingly - the share fo SPsetia went up after they snub PNB - http://www.themalaysianinsider.com/business/article/sp-setia-shares-jump-after-pnb-snub/

If it is a friendly takeover with a willing buyer /willing seller, why the shares went up after the snub? :rolleyes: :confused: :rolleyes:

Though some companies are set up with profit as the bottom line and top piro some owners would still refused to sell on other basis.They love the company or the people or the team which makes it happened. One of the top corporation in Malaysia boss even "sacked" her daughter for trying to remove some of his associates in the company. From Ipoh Mali palm tree to Cameron Highlands tea, many M & A were used under willing buyers/ willing sellers basis, but these iconic owners didn't blinked at all.

Henry T
02-10-2011, 11:23 AM
I don't see any sign of Merger & Acquisition here... what I see is a hostile takeover bid! The poor Tan Sri Liew Kee Sin is in a state of shock! What M&A are we talking about here?


Hostile or not, he won't be poor when the money is shoved into his face. Perhaps this is the pay-day he has been waiting for.

One can't have the cake and eat it. There are many options with that kind of money. He and his family can live on it in luxury for the next 100 generations or reinvest.

He can also give me some If he is so inclined. :D

Jennylim
02-10-2011, 05:59 PM
Poor Hong Leong Quek and Public Teh and Berjaya Tan - sleepless nights as endangered species... they will come for you too guys! :D



I would not be surprised if that really happen, remember, Southern Bank was forced to let go.

zinglicious
02-10-2011, 08:49 PM
Where got "forced"? from TDM to Naib to Najib they said it is business of willing buyers , willing sellers according to market forces. http://www.themalaysianinsider.com/litee/malaysia/article/najib-denies-glcs-picking-up-after-fleeing-investors/

Jennylim
03-10-2011, 01:33 AM
A guy developed a business unit in a GLC fr few hundred K turnover to tens of millions, then the director came and remove the guy to give way to kulitocracy. He built the business like his own, working late till mid night with team of enthusiastic workers, at times work 48 hours non-stop. His family supported him without complaint. The removal was a painful experience, u can't built Rome in 1 day. It's about hardwork and passion.

Life for our offspring would be tough with these things going on.

zinglicious
03-10-2011, 07:47 AM
PNB believe in cut and paste. HArd work and passion are not in thier dictionary. At the end of the day, they want to corner the market by getting the profit bottom lines without any sweats.
By gobbling up private enterprises, it has the set of monopoly in the game. And monopoly means that they can do whatever it wants with no competitors on its tails. Even if it is managed by a reponsibled gomen, but without compettions , it would stifle the growth.

Think of Astro, think of TNB, think Petronas you would know what I mean as at the end of the day if they loot and plunder whatever they had - the rakyat is left with holding the carcass or forced to pay whatever they want to price for the houses because they would say the same tune - Tak untung.

I strongly believe the gomen linked companies or private companies should not have a monopoly on business as the ramification and the consequences could be damaging to the buyers and the rakyat.The Gomen should be just having stakes in these companies and not trying to run the companies.

tupai
03-10-2011, 10:34 AM
For ALLAH, GOD, NIBOKANIZER, TIAN_KONG, ZEUS, YAHWEH, BLUR SOTONG sake...

all the historic M&A$ happened thus far in bolehland were/are/will be on a willing buyer willing $eller lah! Its not a nationalisation ala zimbabwe yet lah! :cool:

When some1 dangle obscene amount of moolah upfront, why shouldn't the typical substantial owner/founder (no longer majority) not sell?
Emo-reason? C'on, only silly $mall minded employees will think that the japanese concept of cradle to grave term of employment policy still applies! The important thing is that the employees MUST be paid true value ++++ for their star performance and not left out (in bopnuses, gratuities, etcetc)from the mega $ale too.

If a ceo of any private company doesnt have his/her 'rewards', KPI, future negotiated and more importantly inked in B&W, then he should be working for his father or own company. To quietly expect the company to understand and reward him based on 'understanding' is a fallacy and a plain blur sotong action. QED.


As the saying goes: "its only business, stupid!"

Yang Amat Boss TIU xlatotupai

Rhiga
03-10-2011, 11:09 AM
Business is to make money…. Period.

For the SP Liew, the moment he allowed the giant public fund players to invest in his company to grow the business, he should know this “hostile” day will come..

Take the money and go, no choice as you are now the minority shareholder.. who cares you are the founder, the soul and the captain of the company !!

If really passionate of the company that he built from scrap, DO NOT PLC the company.. keep it as private enterprise..

That’s why many famous European brands refuse to be PLC as the passion for the ancestor business is so great.. Well, some survive, some kaput and bought by conglomerate….

Exp, the LVMH swallowed so many smaller brands in the luxury brands industry, the Swatch group also acquired many watches who can't survive as family business alone..

SiangMalam
03-10-2011, 05:54 PM
The name LVMH alone tells you how many brands they have swallowed - Louis Vouitton Moet Hennesy... they swallowed Diethelm too lah... after Diethelm was swallowed (but indigestion...) by Keller... :D Wonder why they didn't add in their name JW since they also swallowed Johnnie Walker... :eek:

SiangMalam
03-10-2011, 06:00 PM
Yang Amat Brainy Lato Tupai, I agree there shouldn't be sentiments in all these mergers and acquisitions including hostile or friendly takeovers... but the truth is that it is not right for PNB to be the one doing thse acquisitions. It is support to plant seed capitals and reap returns on investments, not takeover and run the business esp companies like SP Setia which is efficiently managed and profitable! PNB has crap management qualities... they can't even turnaround MAS after decades of twisting and turning and bundling of assets and fancy book keeping... just leave the managment of businesses to real businessmen...

gtl
03-10-2011, 09:50 PM
I see it as a cash out, drawing huge sums fm pnb for these overpriced companies.

ivanhow
06-10-2011, 03:20 AM
Is PNB in a business building and construction, or a brokerage house of doing M&As? :confused:
Either way, PNB may not fit into any of the above, and hence, its bid appears more like a hostile takeover. PNB announced that it intends to acquire SPSB and has further purchased an additional 20.77 million shares on Monday, Oct 3rd, including 10.37 million warrants at 90 sen each in the open market.

So, what's in SPSB that has kept PNB eyeing and going after her? Precious jewels or what?

If there are jewels, then the shareholders shudn't be so quick in selling their price assets for an obscene peanut dangling out there, cos the jewels cud turn into precious diamonds or gold that may turn into something more than the peanut dangling out there. CEO Liew shud advise all the shareholders out there as to what action to take following the hostile takeover.

Perhaps there are many gullibles willing to part them for peanuts otherwise the verbal offer made by PNB will just be a exercise in futility.

Cud there be ways to prevent a hostile takeover such as resiging enmass, or issuing more stocks thru ESOS and hence diluting existing shareholders holdings as a percentage of the total shares? A 10% increase may make a difference between being above or below the 33% MGO. Or perhaps, find a black knight such as an NFO (BJ Tan's 7070 business or GoTong's property dev cousin) to make a higher offer for M&A and then making substantial shares swap with SPSB making it deadmeat!!! :D

Is this a battle of might for control and subsequently to canibalise and dismantle the good and well run entrepreunal ghosts out there or something deeper that that? :confused: Tw'll be good if they put up a fight and see what happens... :) :p ;) :confused:

ivanhow
06-10-2011, 04:06 AM
Yang Amat Brainy Lato Tupai, I agree there shouldn't be sentiments in all these mergers and acquisitions including hostile or friendly takeovers... but the truth is that it is not right for PNB to be the one doing thse acquisitions. It is support to plant seed capitals and reap returns on investments, not takeover and run the business esp companies like SP Setia which is efficiently managed and profitable! PNB has crap management qualities... they can't even turnaround MAS after decades of twisting and turning and bundling of assets and fancy book keeping... just leave the managment of businesses to real businessmen...
Sokong!

PNB had Island & Peninsular Bhd, Austral Enterprises Bhd and Pelangi Bhd under it's arms but how have they all been doing? All in the gully's belly? :D Perhaps needing a bailout :eek: :confused: The dog keeper eating dogs :confused: PNB cud have turned these into super performers if they are great at turning companies around.

Ever wondered where all the PNB's $$$ come from aha?? :eek: like bottomless pit.

tupai
06-10-2011, 09:19 AM
i try to filter the seeds from the pods: Maybe i will fail as I really cannot understand, the reason WHY shareholders/founders/pioneers of PUBLIC listed companies cannot/should not sell to the highest bidders. Based purely on sentimental reasons, the original founders/mgmt should NOT list the company in the first place.

I can think of many kwai loh companies stlll held by the founder's family after many generations for that very reason: not wanting to lose control.

the question whether pnb is in construction or brokerage doesnt arise: , what are companies like Shell, Nestle , Coca cola, Kao, Toyota and a lot of long list of other mncs, doing in ventures/M&A, OUTside of their traditional/core businesses? e.g. for the blur sotong , what has oil refinery gotta do with coldwater salmon farming? Or beverage company gotta do with tobacco farming equipment manufacturing? :confused: :confused: or shipping companies in property development?

and me (an expert in the serious business of 3quarter-retirement) in kay-poing into mass-brainwashing consultancy? :p WHY? its profitable busine$$!

Yang Amat Busy kaypoing ToonIstimewaUtama xlatotupai :cool:

ivanhow
06-10-2011, 03:14 PM
Concern over PNB's bid to takeover SPSB continue to cloud the investor's radar screens. Its aggressive move to acquire stakes in other companies raises questions (http://biz.thestar.com.my/news/story.asp?file=/2011/10/6/business/9630689&sec=business)

PNB's president and CEO Tan Sri Hamad Kama Piah Che Othman's reason "the wish of the country's largest fund manager to continue to work with the current management of SP Setia to deliver value to shareholders" as reported here (http://biz.thestar.com.my/news/story.asp?file=/2011/10/1/business/9600917) sounds hollow to say the least. If that was the objective, then he shud be running his own prop dev company of the group of companies consisting of I&P, Austral and Pelangi that had been acquired by PNB some time ago, turning them into prized assets. Either he doesn't know what he is talking or he has been under directive to speak as such. :confused: :eek:

Rhiga
06-10-2011, 03:16 PM
i try to filter the seeds from the pods: Maybe i will fail as I really cannot understand, the reason WHY shareholders/founders/pioneers of PUBLIC listed companies cannot/should not sell to the highest bidders. Based purely on sentimental reasons, the original founders/mgmt should NOT list the company in the first place.

I can think of many kwai loh companies stlll held by the founder's family after many generations for that very reason: not wanting to lose control.

the question whether pnb is in construction or brokerage doesnt arise: , what are companies like Shell, Nestle , Coca cola, Kao, Toyota and a lot of long list of other mncs, doing in ventures/M&A, OUTside of their traditional/core businesses? e.g. for the blur sotong , what has oil refinery gotta do with coldwater salmon farming? Or beverage company gotta do with tobacco farming equipment manufacturing? :confused: :confused: or shipping companies in property development?

and me (an expert in the serious business of 3quarter-retirement) in kay-poing into mass-brainwashing consultancy? :p WHY? its profitable busine$$!

Yang Amat Busy kaypoing ToonIstimewaUtama xlatotupai :cool:

Please refer those words highlighted in blue-color font..

I had said all these points in post # 21. You have seriously violated my copyright-protected points !!! :cool:

This is intellectual property infringement :mad: !! Please pay compensation of the violation..

Since you are the senior forumer with few thousands of posts.. You are given a big discount of the compensation –- >> just 1kg of ultra-fresh imported oysters from New Zealand and 2 bottles of Louis Roederer Cristal champagne... :p

Cheers

Ps: life is so f@ck boring without fresh prawn, oyster, Tsingtao beer, white wine and champagne..

tupai
06-10-2011, 03:36 PM
Please refer those words highlighted in blue-color font..

I had said all these points in post # 21. You have seriously violated my copyright-protected points !!! :cool:

This is intellectual property infringement :mad: !! Please pay compensation of the violation..

Since you are the senior forumer with few thousands of posts.. You are given a big discount of the compensation –- >> just 1kg of ultra-fresh imported oysters from New Zealand and 2 bottles of Louis Roederer Cristal champagne... :p

Cheers

Ps: life is so f@ck boring without fresh prawn, oyster, Tsingtao beer, white wine and champagne..

AIYOH! if u measured 1's seniority by #of posts...gua sudah kalah big time to so many others loh! :(
Kopi-O rite? Ok, how about this payment? 1 bottle Glenmoranchi Nectar D
'or...I shalt think of thee while i sip this honey of god. OK?

Yang Ada Bayar 'utang TIU xlatotupai :cool:

Rhiga
06-10-2011, 04:16 PM
You mean Glenfiddich, the one with a blur-blur reindeer head pasted on a bottle !! :p

Well, my liver/blood can only withstand up to 12% of ethanol...anything more than that, I will think I am the Tsar... :D

Single-malt nectar like the deer head brand contains more than 40% of CH3CH2OH !!! :eek:

Hence, I can only drink beer and sip white wine or champagne....

PS. The word Glenfiddich remains me of my visit to the Scotland winery many many years ago…

wsp
09-10-2011, 03:13 AM
When the companies are making money, this greedy fella will come and swallow. After the money gets siphoned until it becomes a loss making company, a bailout will come. If it fails, get some profit making private company to cover the holes. This is how it works all these years by the name of merger for stronger management, first it was banking industry and now property.

Look at MAS, a loss making company is now invited the profit making company AIRASIA to share their losses!!!

It is time to get out from Bursa and get listed somewhere but not Malaysia. This is a crooked country!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

We are waiting to see it becoming bankrupt like GREECE after being so greedy.

tupai
09-10-2011, 12:57 PM
methink u blokes are getting konfuis by MBO/M&A/Take Overs etc with mismanagement/bailouts/CBT and outright cheating.

Dont cloud the issue wth halfbaked, noncomprende warped sense of the raison detat of going into business.

btw, greece in debts for a host of diff reasons, being plain lazy is up top there!. 'Em PIIGS too! :eek:

Yang Amat Berkonfusing TIU xlatotupai :cool:

p/s saga, which part Glenmorangie u dont understand? :confused: AND anything less than 14% u best drink those pussyfooting winewannabe-cooler lah. All the best wine in the world have min 14% alcho lah!:cool:

Rhiga
09-10-2011, 01:48 PM
....
p/s saga, which part Glenmorangie u dont understand? :confused: AND anything less than 14% u best drink those pussyfooting winewannabe-cooler lah. All the best wine in the world have min 14% alcho lah!:cool:

I only drink cheap cheap wine like Chardonnay, from Aussie or Chile... :p

Anything starts with the word Chateau will vaporize the money in my wallet… :(

I like to add ice cubes into this 13.5% alcohol content greenish/yellowish liquid and the mix will produce something like 12% which I enjoy most..

I like to sip and always like to sip a whole bottle ..… 12% of CH3CH2OH is just ideal for me..

Well, I am glad I still can drink wine and wouldn't complaint more to my creator..

Cheers

ivanhow
11-10-2011, 02:03 AM
Concern over PNB's bid to takeover SPSB continue to cloud the investor's radar screens. Its aggressive move to acquire stakes in other companies raises questions (http://biz.thestar.com.my/news/story.asp?file=/2011/10/6/business/9630689&sec=business)


It was reported (http://www.theedgemalaysia.com/business/194285-flash-pnb-s-p-setia-ceo-to-continue-to-lead.html) that as an investment fund (its role is to look out for good companies to invest in and not to manage these companies) "PNB recognises that there was a disconnect between S P Setia's fundamental value and its share price caused by the present global market turmoil which was why it was seeking to increase its stake in the company.”

And I am still very confused :confused: why PNB says it has made an offer to takeover SP Setia when it has no intention of running the company, can Mr PNB please explain? If it thinks there is a disconnect, isn't it the role of research houses to issue public statements to declare that the company is undervalued the make public the underlying value the company to the market players, and allow it to self-correct? Shudn't it be the role of the investment community to adjust and react to the advise of these research houses rather than for PNB to wield it's financial muscle to raid the market and then declare it's intention of taking over? Isn't it sending the wrong signal to the market? For a second time, it's justification doesn't hold water.

Come on Mr PNB, there are so many other counters that are currently below it's fundamental value. Why didn't PNB also do the same for all the others? :confused: Aren't you kidding yourself ?? :(

SiangMalam
13-10-2011, 12:10 AM
Yeah, go whack those guys in Maybank for losing MYR2 billion plus in their Indonesian gamble...

ivanhow
17-10-2011, 11:24 PM
It was reported (http://www.theedgemalaysia.com/business/194285-flash-pnb-s-p-setia-ceo-to-continue-to-lead.html) that as an investment fund (its role is to look out for good companies to invest in and not to manage these companies) "PNB recognises that there was a disconnect between S P Setia's fundamental value and its share price caused by the present global market turmoil which was why it was seeking to increase its stake in the company.”

For the records, the link provided earlier appears broken, re-provided here (http://www.theedgemalaysia.com/business-news/194285-flash-pnb-s-p-setia-ceo-to-continue-to-lead.html)

Questions aplenty over PNB’s bid to control SP Setia (http://biz.thestar.com.my/news/story.asp?file=/2011/10/1/business/9600917&sec=business)
What's PNB up to?
Permodalan Nasional Bhd’s surprise bid for SP Setia raises more questions than answers (http://thestar.com.my/columnists/story.asp?file=/2011/10/1/columnists/aquestionofbusiness/9611346&sec=aquestionofbusiness)
When the market faces turmoil, PNB takes no chances in 'fishing under'. while SC approves PNB’s offer for S P Setia (http://my.news.yahoo.com/sc-approves-pnb-offer-p-setia-120906287.html) What does this mean? Cud it mean that entrepreneurial spirit (http://ezinearticles.com/?How-To-Define-Entrepreneurial-Spirit&id=738736) especially if it's helmed by 'certain' great entreprenuers has been curtailed in this great land of ours!!