tag:blogger.com,1999:blog-27256617.post6580368519013423295..comments2024-02-19T03:21:42.482+08:00Comments on CHARLES HECTOR: Anwar, the people were also kept in the dark when RM391 million of their money was used to buy over Talam's debt to 'Selangor'?Charles Hectorhttp://www.blogger.com/profile/10962669552161424734noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-27256617.post-65526565380159968262009-11-21T11:06:02.837+08:002009-11-21T11:06:02.837+08:00Without going into the details, it is quite obviou...Without going into the details, it is quite obvious that Talam failed as a company with huge debts. Why did it happen can be asked of any of those over-ambitious CEOs of public listed companies and the ever willing bankers and creditors who got caught up with the euphoria.<br /><br />Talam is known as a beneficiary of its close relationship with the previous BN state government of Selangor, and I believe many contractual obligations were results of it.<br /><br />To untangle and solve the mess of the company calls for re-structuring of the company which inevitably involves dealing with the huge debts.<br /><br />We should look at the larger picture of solving Selangor state's investments, wise or otherwise, and whether it is better or even possible to write off the debts owed by Talam. <br /><br />Perhaps, the state government should highlight the details, especially to the uninitiated, as to why it is best to take-over the debts of Talam. This is similar to selling Proton's European company for 1 Euro. One has to take into account the cost of taking over the liabilities as well. If the assets of Talam is worth much more than Rm391 million, and its prospects of earnings from those assets (especially landed properties) are even more, then the deal seems favourable to the state.KoSong Cafehttps://www.blogger.com/profile/09257859564265735807noreply@blogger.com