Mahathir School Of Journalism
Branson calls for open competition in Malaysia
The Star – 27 Sept. 2010
KUALA LUMPUR, Malaysia (AP) – British billionaire Richard Branson said Monday that Malaysia should split up and privatize large government-owned companies to increase competition and woo foreign investors.
Branson, whose Virgin Group is a shareholder in a Malaysia-based long-haul budget airline, also said political issues such as the sodomy trial of opposition leader Anwar Ibrahim have damaged Malaysia’s reputation among foreign investors.
“A lot of your companies are run by the government,” Branson told a business conference. “It will be better if you privatize, break up big companies into smaller companies for them to compete with each other.”
“It will be better if Malaysia can be more liberal and open. It will attract more people to invest,” he said, when asked how Malaysia can lure foreign investment under an economic plan unveiled last week that seeks $444 billion of investments over the next decade to lift the country to developed nation status.
The Malaysian government retains an ownership interest in most key industries, which gives it the final say in corporate direction despite opening highways, telecommunications, electricity, airlines and autos to private investment since the 1980s.
Large government-linked companies are significant providers of essential services and employment, and account for more than a third of stock market capitalization. Such corporations are also key beneficiaries of government contracts and privileges, drawing criticism of unfair playing field for others.
Budget airline AirAsia has long complained of unfair competition with national flag carrier Malaysia Airlines. Branson’s Virgin Group has a stake in AirAsia’s long-haul affiliate, AirAsia X.
Turning to politics, Branson said Anwar’s second sodomy trial is negative for Malaysia’s image with investors.
“Not in a major way but it’s definitely a thorn in the side of Malaysia’s otherwise very good reputation,” he said.
“This has gone on for a long long time. It looks bad overseas. If you are a bold leader, you should get rid of things like that which damages your reputation,” he said, without elaborating.
Anwar, a former deputy prime minister, is on trial for sodomizing a former male aide.
He insists the government concocted the charge to sideline him after his opposition alliance made unprecedented gains in 2008 polls. The government denies conspiring against Anwar.
He faces up to 20 years in prison if convicted of sodomy, a crime in Muslim-majority Malaysia. It is the second time Anwar has been accused of sodomy. He was imprisoned for six years starting in 1998 for sodomy and corruption. The sodomy conviction was later overturned.
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Iklim pelaburan: Richard Branson selar sikap Anwar
Oleh WAN NAJIB WAN DAUD (Utusan Malaysia)
KUALA LUMPUR 27 Sept. – Bilionair dan usahawan terkenal dunia, Sir Richard Branson menyelar sikap bekas Timbalan Perdana Menteri, Datuk Seri Anwar Ibrahim sebagai perosak kepada imej dan iklim pelaburan negara.
Beliau yang juga pengasas Kumpulan Virgin berkata, iklim pelaburan Malaysia di peringkat antarabangsa amat menggalakkan tetapi beberapa isu perlu ditangani agar tidak menjejaskan reputasi negara di kalangan pelabur asing. – Utusan
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Branson says Anwar trial ‘damages’ Malaysia
By Yow Hong Chieh (The Malaysian Insider)
September 27, 2010
KUALA LUMPUR, Sept 27 — Virgin Group founder Sir Richard Branson has called on the Malaysian prime minister to intervene in Datuk Seri Anwar Ibrahim’s sodomy trial, calling the issue “a thorn” in Malaysia’s otherwise good reputation.
“If you’re a bold leader, you should get rid of things like this which are damaging your reputation,” he said today at the “Dawn of the New Decade: Alternative Investments in Asia” conference here.
“This has gone on for a long, long time. It looks bad overseas.”
While Branson did not think Anwar’s Sodomy II trial was causing foreign investors to shy away from Malaysia in any major way, the mercurial entrepreneur nonetheless said more people would want to invest in Malaysia if it were more open and liberal.
He added that it was incumbent on the prime minister to address the “damaging” trial as good leaders looked after their citizens well, much like how good employers take care of their employees.
Branson was speaking at the “Dawn of the New Decade – Alternative Investments in Asia” forum in the capital hosted by the Malaysian Investment Development Authority (MIDA). He went on after MIDA Director-general Datuk Jalilah Baba gave her address.
Anwar, the 62-year-old PKR de facto leader, is charged with sodomising his former aide, Mohd Saiful Bukhari Azlan, at Unit 11-5-1 of the Desa Damansara Condominium in Jalan Setiakasih, Bukit Damansara here between 3.01pm and 4.30pm on June 26, 2008.
The former deputy prime minister has denied the charge, describing it as “evil, frivolous lies by those in power” when the charge was read out to him. He is charged under section 377B of the Penal Code and can be sentenced to a maximum of 20 years’ jail and whipping upon conviction. The trial is taking place 18 months after Anwar was charged in court in August 2008.
Anwar was charged with sodomy and corruption in 1998 after he was sacked from the Cabinet and was later convicted and jailed for both offences.
He was freed in September 2004 and later resurrected his political career by winning back his Permatang Pauh parliamentary seat in a by-election in 2008, which had been held in the interim by his wife.
He had earlier led the opposition coalition, Pakatan Rakyat, to a historic sweep of five states and 82 parliamentary seats in Election 2008.
Anwar’s Sodomy II trial will resume on October 14.
Utusan Malaysia - spinning or gutter journalism?
“If you’re a bold leader, you should get rid of things like this which are damaging your reputation,” he said today at the “Dawn of the New Decade: Alternative Investments in Asia” conference here.“This has gone on for a long, long time. It looks bad overseas.”
While Branson did not think Anwar’s Sodomy II trial was causing foreign investors to shy away from Malaysia in any major way, the mercurial entrepreneur nonetheless said more people would want to invest in Malaysia if it were more open and liberal.
He added that it was incumbent on the prime minister to address the “damaging” trial as good leaders looked after their citizens well, much like how good employers take care of their employees.
You can read the rest of The Malaysian Insider's report here - Branson says Anwar trial 'damages' Malaysia
Or Malaysiakini's report here - Branson warns Malaysia over Sodomy II
Or Malaysian Mirror's report here (quoting from Bernama) - Anwar's sodomy case a thorn for Malaysia, says tycoon Branson
But whatever you do, Don't read Utusan Malaysia's report - Iklim pelaburan: Richard Branson selar sikap Anwar unless you want to vomit all over your keyboard! Just to give you an idea their take on Richard Branson's comments, I reproduce below a paragraph from Utusan's 2-paragraphed report.
KUALA LUMPUR 27 Sept. – Bilionair dan usahawan terkenal dunia, Sir Richard Branson menyelar sikap bekas Timbalan Perdana Menteri, Datuk Seri Anwar Ibrahim sebagai perosak kepada imej dan iklim pelaburan negara.
(Translated - Billionaire and world famous entrepreneur, Sir Richard Branson slammed the attitude of former Deputy Prime Minister, Datuk Seri Anwar Ibrahim as a pest to the country's image and investment climate.)
Go figure this one out! To think that some trees have to die to provide the newsprint for this garbage to be printed on. What a shameful waste of trees!
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