DAP kafir harbi bodoh mentadbir, pelaburan jutaan ringgit terlepas!!

PENANG INVESTMENT: Inexperience caused failure
By : CALVIN SANKARAN, Bukit Mertajam

THE announcement by Samsung that it selected the Philippines rather than Penang to invest in a new integrated circuit plant is a setback to the state government under Chief Minister Lim Guan Eng. The US$1 billion (RM3.2 billion) plant will be built in Clark, north of Manila.

At first glance, it is hard to understand Samsung’s decision. In terms of physical infrastructure, human resources, supply base and public utilities, Penang is superior to Clark. Also, Penang’s position as one of world’s most important electronics industry hubs and the presence of extensive supporting industries should have swung the decision in its favour.

One might suspect this was due to the recent fuel price hike and the Federal Government’s decision to defer the monorail and Outer Ring Road projects.

However, Samsung’s announcement was made well before the fuel price hike and the Federal Government’s decision to shelve the projects. Furthermore, the price of petrol in the Philippines is 64 pesos (RM4.92) per litre and expected to go up soon.

While I am neither privy to the thought processes of Samsung’s management nor involved in the negotiations between InvestPenang and the South Korean company, it is not too hard to guess what transpired.

Shortly before the decision was announced, Lim and his delegation paid a visit to South Korea. It is obvious that Lim failed to convince Samsung on the advantages of investing in Penang.

It would come as no surprise that he failed in his mission if we look at the composition of the delegation.

The delegation of six included five party members who had neither the experience nor the official responsibility for attracting foreign direct investment. Only Datuk Lee Kah Choon was from InvestPenang, but even he was a political appointee who has little experience in foreign direct investment.

The failure to convince Samsung is symptomatic of the structural problems plaguing InvestPenang under Lim’s stewardship.

These issues, if not addressed urgently, will not only result in failure to attract FDI but also cause existing investors to look for alternative locations.

It is no secret that Penang’s new leadership is viewed with suspicion by foreign investors.

Lim’s confrontational, ra-ther than conciliatory, attitude towards the Federal Government and his constant haranguing of Putrajaya might win him political popularity and support, but it is scaring away potential and current investors.

His whining about projects being cancelled and Penang being marginalised has sent a negative perception of the state’s suitability as an investment location.

It is well known among industry insiders that several large multinationals are planning to either scale down or close their operations in Pe-nang in the coming weeks and months.

I am sure Lim’s administration is aware of these companies. It is not too late to convince them by reversing the poor decisions made thus far.

He has to appoint (by open interviews) competent, experienced and non-political professionals to manage investors and attract FDI.

Failure to act would be catastrophic for the economy of Penang.

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3 Responses

  1. Ini org bikin kacau memang kepakaran dia.

    Tp saiz kepala tak ada feng shui.

    Menteri biasanya kepala besar.

    kepala 3 suku tak layak. mcm arroyyo.

  2. tengok sebelah tu,

    duduk kat malaysia tp taksuka melayu.

    Sorang berangan nak jadi TPM,

    sorang lagi penyanyi tak laku,

    Kepala diorang bengap & gila. Hantar ke tg rambutan. Anwar pun patut masuk sekali.

  3. kat india, taiwan takde melayu, azan. kalau tak suka melayu duduk kat sana. tempat nenek atok hang.

    datang sini nak jd beruk.

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