Hantu Laut

Some airports are nightmarish to travellers. Overcrowded, long queues, inefficient, dysfunctional and it just make you sick.

I have had fair share of being trapped at such airport when flights are delayed and tempers flare.There is nothing worst than being caught unprepared.

I used to like London Heathrow before it gets too big and too crowded.Los Angeles LAX from 25 years ago when I first landed there has given me an indelible impression as being one of the worst airports in the world, even then. Chicago O'Hara, the scariest airport. Next time you are there look out of the window when your plane taxing to take-off, you are likely to see long queue of planes behind yours stretching to infinity.Only one word can describe it 'scary'.You don't know when they are going to whack each other. Changi remains my favourite airport. KLIA, not to bad but need some tweaking for improvement.KLCC, overcrowded, hot and humid,food outlets always packed, lousy food and at times get very unpleasant.You hate to be there if not for the cheap fare and flight frequency.

KKIA,not too bad, not exactly my favourite, it's the one that I always come home to.

There are many more bad airports.Let the article below tell you more of the worst airports in the world.

It is one man's meat another man's poison.Some may agree and some may disagree with the findings.

The 10 Most Hated Airports In The World

Airports might be our gateways to travel, adventure and a little extra sunshine, but some of them, especially the bigger hubs, have been getting bogged down by the increased traffic and convoluted patchwork of add-on terminals that are supposed to be handling the growth. And these hubs seem increasingly unavoidable. We've got concourses that feel longer than than some of the runways, check-in and security lines that make you wonder if you'll start to decompose before you reach the plane, gate-changes that feel like a twisted game of musical chairs, and delays to take-off, land and even find a parking spot. According to more than 2000 participants from over 80 countries who took the "World's Worst Travel Survey," here's the ranked list of top offenders. For more travel "worsts," check out the Titanic Awards.

These ten airports are statistically the worst, there are certainly many others. Send us your picks of mayhem at airports!Continue reading.

What Is Wrong With Us, I Mean The Malaysian Economy ?

Hantu Laut

While Malaysia expect contraction in its economic growth in the second half of 2010 as announced by the Prime Minister our neighbour across the causeway upgraded its growth rate to an explosive 13 to 15 per cent for the year.Singapore's economy in the first quarter was 16.9 per cent and estimated a massive 19.6 per cent in the second quarter.

Singapore's economy will be the strongest growing in Asia and the world in 2010.

Now, if Singapore without any natural resources and a land the size of a needle head can pulled itself out of a recession as fast as a Formula 1 car why are we still in thermal inertia in the paddock.Instead of picking up the pieces and restore it back to normalcy we just throw in the towel and admit defeat because some smart economists say so.

During the US and European financial meltdown where most developed economies predicted an ensuing global recession Malaysia with its bunch of inward looking economic experts which include the second Minister of Finance then and the Governor of Bank Negara were insistence that Malaysia would not be in a recession.

While the government institutions lumbered in making final adjustment to the growth rate my adjusted forecast was strong likelihood of negative growth for 2009. The GDP in 2009 was -1.17 percent. It was a mild downturn but long enough to be called a recession and we are still feeling the side effect.

As anticipated, all export dependent economies in the region showed negative growth except for China and Indonesia.As they say, when America sneezes you catch the flu.

Some economists came up with a silly new theory "decoupling" of major markets meaning you would not catch the flu if that market is sick.Decoupling is farcical as long as there are voluminous cross border transactions in whatever form, financial or commodity, markets contagion would continue to exist.

We seem to be doing thing in reverse order.Can't tell the difference between good and bad times.

Just because of slow recovery in the US and some Western economists predictions of slowing down of the European economy in the second half this year and a potential financial meltdown in Europe, particularly the PIGS (Portugal,Ireland,Greece and Spain) somebody rings the alarm bell.

Even if those EC countries struggling with unproductive economies and fast-mounting deficits go down it doesn't mean we should pull down the flaps and slow down our economic outputs.

A financial meltdown in the European Union is possible as some of the countries continue to weaken and drag down the financial system.Banks in Europe are in precarious position because of their exposure to those countries.Some French and German banks, already weakened by the last crisis, hold some $640 billion in Spanish government bonds.Spain bill of health ain't that good. A default will likely create a domino effect.All said and done even the U.K economy is not on strong foothold yet.

Will Malaysia suffer the contagion?

Not likely.

How much trades and financial papers do we have with Europe?

Our top 10 trading partners in order of volume/value in 2009 were China, Singapore, US, Japan,Thailand, Republic of Korea,Indonesia,Hong Kong,Germany,Taiwan.

The top 5 trading partners for 2009 are shown below.

Country Value(RM Billion) Our Export (RM Billion)

China............ 127.90 ...................67.24 (2)
Singapore..... 125.30 ................... 77.20 (1)
US................. 109.20 ................. 60.58 (3)
Japan............ 108.71 ...................54.42 (4)
Thailand......... 56.16 ...................29.85 (5)

Our largest export was with Singapore followed by China.Singapore re-exported most imports from Malaysia.

If Singapore and China's economy can continue to be robust for the rest of the year why not us? On what basis our economy is slowing down? Can someone tell me?

Somebody in the Ministry of Finance and Bank Negara should explain instead of just telling the Prime Minister to go out and tell the people the economy will be slowing down for the rest of the year.

Mr Big Spender "Buy Enron" Stock Pick Disaster

Hantu Laut

If you have listened to the kid in the year 2000 and invested heavily in his stock pick you would have lost your pants and probably committed harakiri.It would not just be diminution of your investment with probable recovery in the future, it would be total loss and your scrip as good as the toilet paper.

This globe trotting playboy/financier to many big international companies who appeared from nowhere but the woodwork has become instant celebrity not for his brains but his prodigal spending habit.As an investment and financial analyst he certainly is not top notch.As a playboy, I am not sure, whether he screws any of the Hollywood stars and starlets or just waste his money to be seen with them.Well, it is not too difficult to convince a dumb blonde as long as you pay.

Is he really the financial whiz-kid that his promoters claimed him to be? If so, why hasn't he appeared in the media as an accomplished international financial/investment adviser working with top notch investment company?

Read Teak Jho Lo's stock pick in June 2000 while still as undergraduate student at Wharton and guess which company he picked?

Stock Picks

Enron boasts top growth

Taek Jho Low, WH '04

Issue date: 11/6/00 Section: Undergraduate

Traditionally considered a natural gas pipeline company, Enron’s core business is now the management of price risk in fast-growing and deregulating commodity markets. The risk merchant franchise accounts for 75 percent of operating income and is growing at a 30 percent–40 percent annual rate. The company has the No. 1 market share in the relatively mature $80 billion U.S. natural gas market, is No. 1 in the $235 billion U.S. electricity market, opened in 1996 and rapidly growing. And it is a leader in related energy commodities, such as coal, pollution emissions, and weather hedges. Enron also has first-mover advantage in the $270 billion European market, opened in February 1999, where it is already profitable and has seen volume grow tenfold. Enron grows by expanding into new geographies and new commodities. It also successfully uses new tools; for example, I expect Enron will solidify its market position using the Internet.

Deregulation of commodity markets creates price volatility, which must be managed. Enron has successfully done this in gas and now power on a global basis. Seventy-five percent of the growth opportunity is ahead of Enron — in energy alone, an $800 billion global market opportunity.

The value of the bandwidth commodity market will be determined in 2000/2001. The ultimate potential of this market, with significantly greater “top-line” growth than energy, could exceed the energy commodity market by 2005. Enron is a leader targeting the bandwidth commodity opportunity.

Enron is also a first mover into new commodities and geographies with its risk merchant strategy. As a result, it earns the highest margins, about three times those of its nearest competitor.

My 12-month price target of $100 projects an energy franchise value of $60 per share, coupled with $40 in share value for bandwidth.

Enron is not without its risks. Whether ENE is a $60 or a $100 stock in 12 months depends, in my view, on the successful commercialization of the bandwidth commodity market. Technological and standardization issues increase the risks that this newest commodity market will not successfully develop.

Source:Wharton Journal

A year later the Enron's scandal exploded.

Creative and crooked accounting using inflated revenues, inflated assets and a spruced-up balance sheet cheated investors into believeing they are investing in the greatest blue chip ever.Enron declared bankruptcy in 2001.It shares which peaked at $90 went to zero.

Enron has become history and Teak Jho Lo has become Mr Big Spender.

Mr Big Spender must have been only 17 or 18 years old then.

A true child prodigy or a stupid front man?

Would not the Pejabat Hasil Dalam Negeri, the FBI, the CIA be interested where his money came from?

"What They Don't Teach You At Wharton Business School" More On Mr Big Spender

Hantu Laut

Some of you might have read the book "What They Don't Teach You At Harvard Business School" where the writer Mark McCormack delved into the realities of the business world, things that you don't learn at business schools.The street knowledge that comes from day-to-day experience of running a business and managing people.The pitfalls that they don't tell you.I presume that's why the Chinese are more successful in business, they don't go by the book, they have entrepreneurial instinct.

McCormack never studied in Harvard, he got a law degree from Yale.Most of what he wrote in the book were based on his personal experience running a business.

More on our flamboyant ostentatious big spender who reputedly studied at the highly reputable Wharton Business School at University of Pennsylvania.

Wharton is the oldest business school in the US, is a member of the Ivy League and rated the No.1 business school in the world.In 2010 London Business School took the top spot.Harvard, better known here, is only second best.

Somebody, should write "What They Don't Teach You at Wharton Business School." How not to blow $160,000 in one night's party bash.

How not to be an obsequious sychophant and blow your money just to be seen sitting with those slimy and stony celebrities.How not to blow your father's money.Has to be, unless Najib gave him multi-million-dollar contract?

Unlikely ?

More on Jyo Lo below.

Asian financier looks to take on collection of luxe Manhattan apartments

November 05, 2009 09:20AM

The Park Imperial at West 56th Street, where Lo is currently renting an apartment for $100,000 per month

An Asian financier calling himself "J. Lo" is reportedly looking to buy up luxe apartments in Manhattan's premier buildings with haste. Lo, who is currently renting a $100,000-per-month condo at West 56th Street's Park Imperial, counting neighbors like Daniel Craig, Sean "Diddy" Combs and Deepak Chopra, also recently signed a contract at the Park Laurel on West 63rd Street. He is reported to have paid nearly $28 million for the 7,758-square-foot spot that belonged to Israeli philanthropist Ephraim Gildor. Lo hasn't made an offer yet on the $31 million penthouse he visited at Trump Park Avenue, but he did bid almost $40 million on Broadcast.com founder Todd Wagner's apartment at the Time Warner Center, which, unfortunately for Lo, isn't actually for sale. Wagner bought the 4,800-square-foot penthouse, once famously rented by Jay-Z, from real estate investor Michael Hirtenstein in 2007. Observers have noticed Lo's black Cadillac Escalades idling outside his current rental, where he's had shopping bags from Bergdorf Goodman delivered to his door. [Post, 1st item]

My latest grapevine revealed he is not Najib and Rosmah's friend.He is Najib's son friend.

See below for some of his connections .

Once a financial services group, UBG Berhad is today evolving. Following its divestment of shareholding in the RHB financial services group in 2007, a series of acquisitions into new core businesses is reshaping UBG. As a strategic investment house, UBG's interests are in concession businesses, construction & infrastructure, and energy. By October 2008, new acquisitions by UBG in two Malaysian entities - water infrastructure specialist, Loh & Loh Corporation Berhad, and niche construction specialist, Putrajaya Perdana Berhad, have been completed. These further strengthen UBG's infrastructure capabilities which include CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd. Together, the new investments hold promise for UBG to steer these companies towards new businesses and opportunities, both local and international. Please select: 1) Current News 2) Archived News

Board of Directors of UBG Berhad

Chairman: Y Bhg Dato Sri Mahmud Abu Bekir Taib Deputy Chairman: Datuk Syed Ahmad Alwee Alsree Non-Executive Director: H.E. Yousif Mana Saeed Alotaiba Non Independent Non Executive Director: Shaher Mohamed Ali Al-Awartani Non-Independent Non-Executive Director: Low Taek Jho Non-Independent Non-Executive Director: Tan Vern Tact Independent Non-Executive Director: Dato Sri Liang Kim Bang Independent Non-Executive Director: Krishnan a/l C K Menon

Low Taek Jho
(Malaysian, Aged 27 years, Non-Independent Non-Executive Director)

Mr Low Taek Jho was appointed to the Board of UBG Berhad as Group Advisor on 19 September 2008. He is a representative of the major shareholder, Majestic Masterpiece Sdn Bhd and Abu Dhabi-Kuwait-Malaysia Investment Corporation. Mr Low currently serves as group advisor to several international corporations involved in global private equity, mergers & acquisitions, buy-outs, government-to-government offset structured investments and financing, networking and financial aid, amongst others. Mr Low graduated with a Bachelor of Science degree in Economics with concentration in Finance from The Wharton School, University of Pennsylvania, United States of America.

So, no MBA, only ordinary business degree, only 27 years old and can become advisers to so many companies.Bet your bottom dollar all those companies are under the same stable.

Looks like, Sarawak a major contributor to Mr Lo's lifestyle.