Read about SILTERRA here (OUTSYED THE BOX):-
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.
