Monday, July 14, 2014

Mr Clueless !!

Read about SILTERRA here (OUTSYED THE BOX):-

Silterra, High Income Nation, Increasing Homeless

Here are some quick facts. Silterra employs about 1300 employees. Almost 100% Malaysian. There are 400 qualified engineers working for Silterra of which 40% are Malays. There are 600 technicians (diploma holders) of which 80% are Malays. The rest are Indians and Chinese. This is a company where the employee profile almost matches Malaysia's multi racial profile.
Here is the best part. Silterra does not enjoy any protection. It sells all its products overseas in Korea, Taiwan, China, Japan, Europe and the US. Silterra is a name that is even known in the Silicon Valley. Our boys from Silterra can talk shop with any Silicon Valley tech company. In comparison the Khazanah boys know how to shop. 

OK folks here is the shocker for today. Khazanah wants to sell Silterra to a relatively unknown Chinese company from mainland China.
Silterra has hutang about RM1.8 Billion. Interest owing about RM700 million. Total RM2.5 Billion hutang liabilities. Get this folks : this RM2.5 Billion hutang will first be settled by Khazanah. After that the Chinese company will buy Silterra for about RM550 million. Wow !! That is a RM1.95 Billion subsidy for the Chinese company, paid using taxpayers money.
What do the Chinese get? They get Silterra which already has RM500 million revenue a year. So their acquisition cost is just over a year's revenue. Silterra has invested RM7.0 Billion in machinery and equipment including one of three or four Clean Room manufacturing facilities in South East Asia.

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