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Foreign or Local ? - they are one and the same.
By Dhobyboy

28/5/2001 9:46 am Mon

There are Malaysians who own banks, stockbrocking companies and asset management companies outside Malaysia. Being Malaysian they naturally would have "local" offices for the "foreign" companies. Their associates in the respective countries are very well advised by them because they have advantages of their "local" offices. Fund owners that are truly foreign, always make their investment decisions based on the advice of mostly international advisors and analysts. When they seek advice on Malaysia, the analysts with Malaysian presence will be sought. These international advisory companies employ Malaysians. In fact some Malaysians are known to be among the best in Asia. Some "locals" are also foreigner. Some, because they have been here for a long time and some, because they are married to locals. Even those who have left, will continue to keep a close or continuos contact with their Malaysian friends. The same can be said of banks and stockbroking companies.

How about the foreign media ? Most employ either locals or expatriates who have been around long enough to be "local". Are these foreign media "foreign"? What do all these mean ? There are no such thing as "foreigner" or "local" when we look at the business or investment community. Business monies chase opportunities for profit. The political environment, or any other factors are business factors for these investors. If a market environment is bad, they will say so. If it is good, they will invest. Journalist from the media will get the feedback from these investors and will echo them. Of course not so for the "local" media.

There is no need for Daim to blame the foreigners or foreign journalists. Foreign or local, they are one and the same. One big investment community, sharing current views and information on where to invest.

We cannot imagine Daim managing a restaurant. "Word of mouth" sells a good restaurant. When the customers start reducing, he would start blaming the previous customers for spreading negative remarks about his restaurant. What would you expect them to do when they found worms in their salad ? Stop blaming them, look at yourself in the mirror and blame yourself, get to the kitchen, CLEAN it up and prepare a fresh menu.