The Tide Has Turned?
The local bourse has been drifting down for weeks now with no respite in sight. As written a few weeks back, Malaysia's problems were not largely associated with the USA-China trade wars: The Problems : We are in the midst of "house-cleaning", while we are quite prepared to be patient, a few things are noteworthy. a) Removing of GLC CEOs and other BN appointees from important government positions - While I wholeheartedly support this, it also hampers all these affected GLCs to "move" or carry out projects. Nobody dares to negotiate contracts as the situation at the top is still fluid. This has to be managed FAST and QUICK. The longer we carry out this bloodletting, the longer the downtrend of the market will be. There is a very low-velocity number in the current velocity of money. b) Tainted Companies - Those not in the GLCs bracket but 'tainted' listed companies are affected as well. Quite a number of these company owners are currently hiding in ...
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