This interesting article caught my eyes in 13 Dec (Sat) StarBiz Week, written by P. Gunasegaram, managing editor of The Star.
How to become very rich in Malaysia? Marrying a rich guy or a rich women, or marrying someone from wealthy family ? Start up your own business ? Through investing or speculating ? Whatever that you can think of, but to speed them up, you definitely need these elements mentioned in Malaysia.
>Connections
strong ones, the higher the better and if it goes right up to the top all the better. Why? Because you need to convince the powers that your projects are good. You need the state to give you something to do the deal that will help the nation.
Examples:
- The country needs a port. You tell the state or federal government you need land - cheap land, preferably free to build the port.
- Help country by building a power plant. You need land and need the power to be sold. So you get someone else to build the power plant, they guarantee the performance of the plant and someone else guarantees to buy your power and pay for all your costs.
- To start an air hub. If you are persuasive enough, you can even convince the government to compulsorily acquire the land and sell it to you cheap. Once you have cheap land, lucrative contracts and concession agreements, the sky's the limit.
>Ability to flip assets
To realise the value of all of the projects and still keep control of them, it's nice to have a listed company into which you can inject them. Inject one asset for shares and you gain control of the company. Then inject others over the years for cash, taking the money out of the company. Do it right and get a flow of assets to inject in, and you get a tidy flow of profits and cash into your personal accounts over the years.
Example:
- Tan Sri Syed Moktar Albukhary actually made some RM 4.5 bil that way - actually more because he still controls the listed company. The latest, it involves a deal to sell Senai Airport to MMC Corp Bhd for RM 1.7 bil cash.
But then if things change - and that's still a big "if" - you might not find it so easy anymore.
Read the full story here:
How to become very rich in Malaysia
MMC’s latest RM1.7bil deal irks investors
Share and Enjoy!How to become very rich in Malaysia? Marrying a rich guy or a rich women, or marrying someone from wealthy family ? Start up your own business ? Through investing or speculating ? Whatever that you can think of, but to speed them up, you definitely need these elements mentioned in Malaysia.
>Connections
strong ones, the higher the better and if it goes right up to the top all the better. Why? Because you need to convince the powers that your projects are good. You need the state to give you something to do the deal that will help the nation.
Examples:
- The country needs a port. You tell the state or federal government you need land - cheap land, preferably free to build the port.
- Help country by building a power plant. You need land and need the power to be sold. So you get someone else to build the power plant, they guarantee the performance of the plant and someone else guarantees to buy your power and pay for all your costs.
- To start an air hub. If you are persuasive enough, you can even convince the government to compulsorily acquire the land and sell it to you cheap. Once you have cheap land, lucrative contracts and concession agreements, the sky's the limit.
>Ability to flip assets
To realise the value of all of the projects and still keep control of them, it's nice to have a listed company into which you can inject them. Inject one asset for shares and you gain control of the company. Then inject others over the years for cash, taking the money out of the company. Do it right and get a flow of assets to inject in, and you get a tidy flow of profits and cash into your personal accounts over the years.
Example:
- Tan Sri Syed Moktar Albukhary actually made some RM 4.5 bil that way - actually more because he still controls the listed company. The latest, it involves a deal to sell Senai Airport to MMC Corp Bhd for RM 1.7 bil cash.
But then if things change - and that's still a big "if" - you might not find it so easy anymore.
Read the full story here:
How to become very rich in Malaysia
MMC’s latest RM1.7bil deal irks investors
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