Archives:
December 1999
The Hari Ini column is available daily on the Asian Business Strategy & Street Intelligence Ezine home page. Sure.. go there now for more of the same. At least it's fresher...
This page contains one month of the archives.
The Hari Ini column documents off-the cuff comments, very odd spots, unsubstantiated rumours, misinterpretations, cruel innuendo, limp jokes, dodgy links, tips lacking in credibility, and other material very roughly related to Asian business, marketing, management, culture, politics, economics and why the earth is round.
Some of the items emerge into sections later on; some are contributed by email or word of mouth by friends of the forum, columnists, editorial advisors, and the Chao Phraya River Rat.
..Most of it just ends up here...
Basically it means we can at least comment on happenings that we wouldn't otherwise have the time to.
"Hari Ini" means "Today" in both Malaysian and Indonesian.
..Which means that everything on this page is already outta date...
As the masthead suggests, this column also includes all the news that doesn't fit..
It also means we can add some lightheartedness and CNN type shallowness to our otherwise more serious content. As CNN proves, such content sells...
Mostly the column just reflects the mood of the editors on the day, and gives a potted summary of key issues in the region. If you want it to reflect your mood as well, email us contributions at chiyo@apmforum.com.
Chiyo Hyiuiki (Webmaster, and on behalf of the editors)
|
|
Bangkok: Tuesday 31st December 1999 |
The Big Tick cometh: To Buddhists, Muslims, and Hindu's the Western New Year has little traditional significance, save for it reminding us of our dependendence on the Western calendar. Apart from an excuse for a big party, this year is different in that the Gregorian New Year brings us Y2K. All countries are reporting good preparedness for the big tick, though the pessimists have caused a run on candles and decidedly deserted airports. Muslim countries, still marking Ramadan, are down-beat during a time that is dedicated to reflection rather than celebration. Entertainment venues are closed in Jakarta. | Good news includes rallies in Asian stock markets in the last session for 1999, with Tokyo closing at its highest level for the year, while Singapore, Sydney and Hong Kong all scored new all-time highs. KL, Bangkok, Jakarta and Shanghai were all up as well. Hey break out the Kickapoo Joy Juice! | Bad news is poor job market figures in Japan. (Financial Times Report) | Excellent new publication on economics is Asia Economic Weekly covering regional economics, the week ahead, statistical releases, Asia forecasts and an economic diary. PDF format published by HSBC, and remarkably - still free... | For stay-at-homes, Mahathir's less favourite tellie channel CNN is probably the place to tune to, with live reports sweeping in from many countries as the Big Tick arrives. Twenty Four hours of New Centuries on the idiot box. Thank God it's only once in a life-time. | Watch for the APMF 2000 Preview to be published next week. Country and industry prospects; marketing, HR and management trends. Last year we got it mostly right...
|
|
Bangkok: Tuesday 28th December 1999 |
|
The Japanese Economic Planning Agency says that Japan is starting to refocus on Asia for investment, with 52% of Japanese-operated firms operating in other Asian countries planning to expand businesses in 3 to 5 years. This follows a drop of 44.1% in the year to March 1999. | Asia's top 50 food and beverage companies, has Kirin brewery (South Korea), Asahi breweries (Japan) and Suntory Ltd. (Japan) leading. To paraphrase John Lee Hooker's famous order - "One whisky, one wine and two beers". John should really visit Asia if he ever gets over his flight fright. Coming in fourth is a food item that is actually GOOD FOR YOU. Japan's Taiyo Fishery swims in after the evil brews. | Protectionism makes a comeback in essential goods: The Indonesian government has decided to impose duties on rice, white sugar and industrial sugar imports effective January 1 next year, and India on sugar and edible oils. | Viagra is now Malaysia's number one prescribed pharmaceutical drug in terms of sales value, following extremely firm sales in Japan, Singapore, and Thailand in earlier times. Of course in Thailand you don't even need a prescription. Beats crushed elephant balls anytime. | Breaking the apron strings: Singapore's PM in waiting BG Lee hopes that the millennium will see "a more self-reliant ... society - one which is able to organise itself and get things done, and not have to depend so much on government initiative..." After years of being a nanny state, Singapore is changing fast to meet the challenges of the Information Age. | Those visiting Malaysia, Indonesia and Brunei during this time will often be invited to a Buka Puasa by their Islam colleagues. Buka Puasa literally "Break of the Fast", is the evening meal following sunset when Muslims, in observing the holy month of Rammadan get together with family and friends to celebrate the closure and reflect on another day of wordly sacrifice. To be invited to Buka Puasa with your Islam colleagues is a great compliment and should not be missed. Muslims are advised that the daily Buka Puasa should be only to mix with others and celebrate friendship. Thats why it is a great compliment, and also why business talk is strictly off the menu. Buka Puasa at home is the most traditional, however urban and middle class people often celebrate at city hotels. A quick survey of Muslim friends of the Rat has identified the Shangri-La in KL, and the Hyatt in Jakarta as being the best central city Buka Puasa spreads for the upwardly mobile this year. Close runner-ups are the Mandarin Oriental KL, Concorde KL, and Shangri-La Jakarta. Enjoy!
|
|
Bangkok: Friday 24th December 1999 |
|
Chandra Kumaratunga sneaked back in as Sri Lanka president amid voter concerns on her failure to reign in Tamil separatists. Her small mandate will possibly put on hold economic reforms. According to independent election monitors around one third of all votes were tainted by fraud and intimidation. Sri Lanka continues to be a high-risk and unknown-returns market. | Malaysia's Mahathir on Wednesday for the first time mentioned by name his deputy Abdullah as his likely successor. Malaysian stock make indicies, moribund for a few months other than a surge last week, reacted to news which would normally be expected to allay investor concerns on political leadership succession, with studied indifference. What was more instructive re the nature of Malaysian business-political relationships was that food products firm Dewina Bhd. controlled by a brother and son of Abdullah surged 9%. Useful to have mates in government obviously. | Pacific Century Cyberworks are showing massive gains in recent days. A stock and company to watch. | Those of us who think that Y2K is a furphy may be advised to put our evil lucre where our honkers are and buy big in the next few days. Expect major gains in Asian stocks, especially in telecommunications and IT which are currently undervalued, directly after Y2K. Y2K pussies have kept the price down. One place to be careful may be Hong Kong and Chinese owned or related stocks where Chinese mainland Y2K preparedness is an unknown. | Well Kriengsak did warn us that rationalization has its down side... No New Year's present for staff of DBS Thai Danu Bank PLC who announced they will be sacking 700 staff and closing 35 branches. Better luck next century.. | Daewoo Motor will be sold in an auction announced by Korean creditors yesterday, amidst growing opposition to foreign ownership including the efforts of GM acquisition hounds |
|
|
Singapore: Wednesday 22nd December 1999 |
|
A Silicone Christmas: As usual Singapore has dressed up to the 9's for Christmas and the New Year, replete with a duo of surprisingly-buxom angels with their charms modestly wrapped up in Alfoil, teetering over Orchard Road from Centerpoint. Good taste has never been a competitive attribute of Singapore retailing... but hell... Happy Xmas anyway!!! |
Past Sins and Recovery: Paul Krugman's final analysis for 1999 gives South Korea top billing ("a stunning recovery"), followed by Malaysia ("a good recovery"), then Thailand ("an OK recovery") and finally Indonesia ("just off the bottom") in his league table of the recovery of the four Asian countries worse affected by the Asian crisis. His "off-the-cuff" diagnosis? ... the best recoveries are being recorded by those with the least "past sins", regardless of repentment. | Anna and the King has opened to rave reviews from the New York Times, just for one. Currently banned in Thailand, the Fox flick still contains historical inaccuracies and "impossible" protrayals of breaches of royal protocol that Thai friends of the Rat who have seen the movie elsewhere have pointed out. The Rat's analysis (to be published in 6 hours) covers the story of how Anna came to be filmed in Malaysia and not Thailand, the long negotiations between Thailand and Fox, and how Anna may be a very good movie, but like 99% of Hollywood offerings is shallow, immature, has the punch of fairy floss, and the real-world credibility of Santa Claus. | Singapore's Ministry of Manpower's latest survey has shown that firms are increasing Western-style perks such as partenity leave, club memberships, and stock options to attract quality staff. ...Have we learned nothing from the past three years?.. | Japan's draft 2000-1 budget, unveiled yesterday, is of necessity stimulating, but at the expense of reigning in debt. | From the Institute for Development Policy and Management Public Policy and Management, a working paper on The New Public Management in Developing Countries | An excellent resource for those researching Asian markets is Trade Port, with many research briefs and economic background data. Mainly US-sourced data. | |
|
Singapore: Friday 18th December 1999 |
|
In a demonstration of the creative thinking that spurs Singapore on these days, the island state has abolished airport departure taxes for stays of under 24 hours. Not only does this encourage, short stop over tourists to spend their money in the place, but it is also a boon for day-tripping business people. A lot of benefit for a very small outlay... | Kriengsak's Thailand Tales will now be appearing in the second largest Thai-language newspaper Daily News from next year. Now Thai readers can enjoy Thailand Tales in print and in Thai. And if you missed it Clarence's Pearl of the Orient Seas will be appearing in a Manila daily from next year also. While others make the transition from print to the Web, we do it the other way around! | The Bank Bali/Standard Chartered Bank agreement for the latter to buy a stake in the former has died. According to the BBC, "The estimated cost of restoring the banks to health after their wild borrowing spree over the past few years is US$90 billion, which represents two-thirds of the country's entire GDP." Whither now Bank Bali who knows? | Initial concerns that the newly installed PAS government in the Malaysian state of Terengganu will exercise a 10% Kharaj tax on non Muslim business and impose Hudud law on non-Muslims are receeding with the latest announcements from PAS. As always business should step warily when investing in Malaysia, but fears that Malaysia will someday become a Muslim state are clearly badly informed. | The IMF and World Bank are also in need of reform according to the Bretton Woods project. A useful resource for economists and all those interested in relations between nation states and World governments. | Most Asian markets are retreating slightly as the New Year looms. | The no-confidence motion in the government of Thailand by the opposition is getting the low interest it deserves.
|
|
Kuala Lumpur: Wednesday 15th December 1999 |
|
Strange fruit hanging from the gum tree: Australia's "One Nation", the alliance of brain-dead isolationists, racists and ethnic-cleansers that gave opportunists in Asia the chance to call Australians racists, already rejected by the population of this multi-ethnic melting-pot, are now almost dead with infighting heralding the death rattle. | Two PDF format articles today, one from the OECD on The Economics and Politics of Transition to an Open Market Economy: India and from our old mates the IMF - Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia. Both links go straight to the PDF file. | Could it be that the normally fun-loving Malaysians are losing their sense of humour? Gus Dur's lighthearted comment on the difficulty of locating Malaysian pollies because they are always on the golf course, still attracts indignant letters to the editors of Malaysian newspapers after over 3 weeks. ...And after waiting patiently for bouquets from overseas leaders for their victory in the election, BN is starting to express their hurt feelings when little has been forthcoming. In the spirit of Malaysia Boleh, it is probably more becoming to just laugh them off. Besides, fragile ego's are a sign of lack of self-confidence. And to Gus.. it may be true mate.. but the truth is rarely appreciated, as you know... | Meanwhile, one Malaysian is proving that Malaysians do indeed retain a sense of humour, and a satirical one at that. He's from the red corner though, and his satirical writings on Malaysian politics are sure to raise a smile among those who don't take themselves too seriously. Sabri Zain's superlative satirical Reform Diary provides enough humour to keep you laughing for a long time, this week's column focusing on alien abductions and dinosaurs. | The backlash against Malays who voted the "wrong way" in the Malaysian election has started in frightening fashion. The pro-government Star newspaper in a recent editorial read "...The Malays just want the best of both worlds and getting them with the least of effort...". Such emotive racial comments are more typical of Pauline Hanson than a Malaysia where all races get on. ...Besides... we thought there was a law in Malaysia banning statements that incite racial tension... | The keyword for Asia in the millennium is change says Lee Kuan Yew. See the Rat's review of LKY's CNBC interview here. | ISP war in Singapore: New ISP Star Hub is offering "almost" free internet access. | Four days until the Monte Carlo of Asia reverts back to the motherland. Macau reverts back to China on the 19th with none of the fuss and fun of Hong Kong. |
|
|
Kuala Lumpur: Monday 13th December 1999 |
|
The Economist Intelligence Unit review of Asian business prospects is hot off the press now here. What are the risks and opportunities for foeign investors? The "free" component of the EIU Report is short and to the point. | Old mate of the forum Nikki Mead in downtown Brisbane has just produced the latest Team Management Systems newsletter including an article on team development in Japan. A great read and a good monthly newsletter to subscribe to. More on how to build strong teams in Asia at our on-line tutorial. | Following up our Who's telling porkies? item from Wednesday, the Indonesian foreign ministry says Mahathir didn't ask Gus Dur to go into bat for Malaysia with Israel. That leaves the Far Eastern Economic Review as the likely suspect for bowling everyone the googly. At least they are the only player which hasn't commented yet. | Mahathir's new cabinet announced on Friday can only re-inforce our suspicion that the Malaysian elite does not believe that any reform is necessary in Malaysia. Now here is a politically-correct cabinet if we have ever seen one. | Foreign investment in Japan is surging according to this Financial Times Report. A turnaround from the last decade where Japan was the big investor in other nation states. A sign that some are acknowledging the efforts of Japan to reduce the mummy state where business hung on the coat-tails of government and to reduce keiretsu. A vote of confidence in an economy still to prove it's resurgence. | Kim Dae Jong of Korea is upbeat about the talks with Japan and China during last month's "ASEAN plus three" summit. In fact he wants more talk-fests among the Big 3 East Asian tigers. A good sign for business if these three very divergent economies can work together better |
|
|
Kuala Lumpur: Wednesday 8th December 1999 |
|
Japan released economic figures considerably poorer than expected yesterday suggesting that recovery is not as bullish as almost everyone would like. | The Islam holy month of Ramadam gets underway from today or tomorrow, depending on location. Observances differ country by country but Muslims world-wide generally fast during daylight hours and turn their attention to the spiritual rather than the worldly throughout the month. Predominantly Muslim countries in Asia are Indonesia, Pakistan, Brunei, and Malaysia, with significant representation in Singapore, southern Philippines and southern Thailand. It is generally not a good time to undertake business negotiations with those of the Muslim faith as focus is elsewhere, as it is for Christians at Christmas or the Chinese during Chinese New Year. | For an excellent database of Indian related books on-line try the Indian On-line bookstore says K.R. Mitall. It must be good - Mat Ciolek's Asian Studies Virtual Library gave it four stars (Very Useful Resource) | Bangkok's new skytrain launched on Sunday with the as-expected first day chaos. As with all new public transport projects in Asia, many are predicting a reduction in traffic jams, but the same people say they will not be using the new transport as, to come down to it, it is "beneath their dignity". "...I'm a lawyer.. whatever would my clients think if they saw me going to work on a train...?" said one of the Thai's we talked to. Face wins again in a region where your competence is judged by the make of your car, watch, suit and hand-phone, rather than the real contribution you make | Tha Malaysian New Straits Times, losing readers fast as reported earlier in common with all English language Malaysian newspapers, has launched a new readership campaign. Rumours that it would change it's name to the "New Mahathir Times" were unfounded, preferring instead to go with the curious tag-line given their recent political reporting standards - "...because things are not what they seem". As for us, we are sticking with the teh house for Malaysian news | Someone's telling porkies again - Malaysia insists that Dr M did not ask Indonesian president Gus Dur (Abdurrahman Wahid) to "help (Malaysia) foster closer ties with Israel", as reported by the Far Eastern Economic Review this week in an interview with Gus Dur himself. Malaysian citizens cannot enter Israel and Malaysia says they will not establish normal diplomatic ties with Isreal until the "Middle East situation" is sorted out. With the higher profile of the conservative Islamic PAS party, the only real winner in the recent Malaysian election, the last thing that the ruling Malaysian coalition wants is to be seen consorting with Jewry. | The foreign devils are at it again: Malaysia again yesterday hit out at foreign embassies allegedly interfering in the political process. The US, Canadian, UK and Australian embassies have been singled out - and all have protested innocence, apart from Canada who said they did help one of the Election Watch bodies.
|
|
Bangkok: Sunday 5th December 1999 |
|
The streets of Bangkok burst into color last night as the decorations for the festivities accompanying the King's 72nd birthday on Sunday appeared from no-where. Not only is it his Majesty's birthday but also a celebration of 50 years of his reign in a country where the monarchy transcends anachronism. The monarchy's resilience in Thailand is due in no small part to the humility and common touch of the present monarch in a region where many others depend on distance and "face" in leadership. Long live the King! If our business and political leaders in Asia had an ounce of the humility of the King of Thailand, the world would be a much better place for sure. More over the weekend | Sunday also marks the opening of the new elevated rail system, a grey snake slithering through Bangkok which threatens to devour the dreaded Rot Thip ...if only people can get over their pride to use the bloody thing... | Key issue at the WTO talks in Seattle quickly focused on labour issues, as Clinton reaffirmed the US stand to combine trade and labor agendas though the WTO. The ragbag of leftist left overs who have finally found an issue to rally against after the fall of leftish ideologies in practice over the past decade are also targeting the environment. Many demonstrators are also there to support higher labour standards (eg. wages) in developing countries as a criteria for WTO largesse. As noble as these aims may be, the motive of the great (and organized) majority however is to protect the wage rates of rich country employees under threat from countries that can actually produce good quality goods at a much lower price because we are less conspicuous consumers. Many Asian countries are aware that the West has grown rich on mass abuses of labor and the environment in the past. Realization of the irony is not beyond us. | Malaysia's reps at the WTO are gobsmacked at the light treatment of demonstrators at Seattle. Why can't Clinton throw them all in the big house, hand out a good bashing, charge them with unnatural acts, and tell the Washington Post to call them unpatriotic? Gee, he might even get a third term.. | IMF problems for South Korea still need to be ironed out warns Statfor. | Site of the Day.. the excellent news source - Asiasource. A great portal for Asian full-text news. |
|
|
Bangkok: Friday 3rd December 1999 |
|
The streets of Bangkok burst into color last night as the decorations for the festivities accompanying the King's 72nd birthday on Sunday appeared from no-where. Not only is it his Majesty's birthday but also a celebration of 50 years of his reign in a country where the monarchy transcends anachronism. The monarchy's resilience in Thailand is due in no small part to the humility and common touch of the present monarch in a region where many others depend on distance and "face" in leadership. Long live the King! If our business and political leaders in Asia had an ounce of the humility of the King of Thailand, the world would be a much better place for sure. More over the weekend | Sunday also marks the opening of the new elevated rail system, a grey snake slithering through Bangkok which threatens to devour the dreaded Rot Thip ...if only people can get over their pride to use the bloody thing... | Key issue at the WTO talks in Seattle quickly focused on labour issues, as Clinton reaffirmed the US stand to combine trade and labor agendas though the WTO. The ragbag of leftist left overs who have finally found an issue to rally against after the fall of leftish ideologies in practice over the past decade are also targeting the environment. Many demonstrators are also there to support higher labour standards (eg. wages) in developing countries as a criteria for WTO largesse. As noble as these aims may be, the motive of the great (and organized) majority however is to protect the wage rates of rich country employees under threat from countries that can actually produce good quality goods at a much lower price because we are less conspicuous consumers. Many Asian countries are aware that the West has grown rich on mass abuses of labor and the environment in the past. Realization of the irony is not beyond us. | Malaysia's reps at the WTO are gobsmacked at the light treatment of demonstrators at Seattle. Why can't Clinton throw them all in the big house, hand out a good bashing, charge them with unnatural acts, and tell the Washington Post to call them unpatriotic? Gee, he might even get a third term.. | IMF problems for South Korea still need to be ironed out warns Statfor. | Site of the Day.. the excellent news source - Asiasource. A great portal for Asian full-text news. |
|
|
Bangkok: Wednesday 1st December 1999 |
|
Battle in Seattle: State of Emergency and curfew announced in Seattle outsde the WTO Talks venue. Riots continue as tear gas smog rises over the city. Hell, you would think you were in Jakarta or KL... | Some consolation for Supachai that he is not Director-General of the WTO right now. Key foe and victor of the DG bunfight Mike Moore in Seattle is being portrayed by protestors as "Head of a world-wide syndicate bent on world domination" | Japan's industrial output fell in October but expect the overall fourth quarter figures to be released early next century to show a Japanese economy well on the way back | Tung Chee-hwa of Hong Kong was upbeat on CNN last night, saying "Four and a half percent growth over the previous year by any standard is a good recovery". Certainly, let's keep growth this time sustainable all around. | The Malaysian election is over - analysis from the Chao Phraya River Rat, including the curious Sinatra tribute in Mahathir's victory address. | The successful US and China agreement on World Trade has got the investors baying at the leash. Much new interest in China business last week | Australia's "cheekly koala", unleashed on an unsuspecting US audience in April has been re-exported back to the land of OZ in Qantas's latest advertising campaign. Over 15 years ago, then tourism minister John Brown set off an uproar when he described the koala as a "piddling, smelly thing". Watch out the Koala's back! | At least Qantas uses an image uniquely Australian - Malaysia Airlines have opted for My Way, written by an American and made popular by an American as their theme song. Mahathir may well be singing Fly me to the Moon today however as he reviews an incredibly successful election campaign and contemplates his fifth five year term. | And on Qantas again, the OZ government yesterday announced that Branson's Virgin Airlines will be given the right to compete with Qantas and Ansett on domestic routes. Branson better have done his homework - all attempts at entering the domestic airline market in recent history have been major failures.
|
© Copyright 2000 ('fer God's sake who would want to steal this stuff anyway?) Asian Business Strategy & Street Intelligence Ezine |
