The Malaysian Insider

MARCH 15 — During a discussion with a Middle-Eastern investor recently, I was left speechless when asked why it was that Malaysia was not a member of any large economic grouping.

Truth be told, the question was as much amusing as it was surprising — Malaysia after all is privy to a multitude of international economic arrangements, ranging from its membership in multilateral organizations, like Apec and Asean, to its many bilateral trade agreements.

The lack of recognition of Asean, in particular, was worrying.  The organisation is neither new nor dormant — having been formed in the late 60s (a good decade before the formation of the better- known Gulf Co-operation Council) with the purpose of acting as both a geopolitical and economic union.

FEB 23 — “The governance of companies is more important for world economic growth than the government of countries”.

Those were the words of James Wolfensohn, then-president of the World Bank, in 2002. Although they may sound somewhat of an overstatement today, they reflected the sentiment of a time when the scandals of Worldcom, Enron and Parmalat had rattled the confidence of the markets. The awareness that corporate governance was important was not new.  But its manifestation in the loss of billions of dollars had re-enforced its place at the heart of financial regulation.

FEB 8 — As you read this, 400,000 people are in danger of being made homeless by rising sea levels, but we haven’t taken much notice.

We haven’t done so because those people live in the Maldives, a small nation with no natural resources other than its (non-extractable) natural beauty. Thanks largely to global warming, the tiny collection of 26 atolls are being submerged by the rising levels of the Indian Ocean, but is struggling to get help.

In October last year, its Cabinet staged a publicity coup of sorts by holding a special meeting under water. It worked — and the Maldives got its fleeting moment of fame to highlight the impact of global warming. The gimmick is a stark demonstration of the challenges that smaller countries face in getting any meaningful international attention, even for the most pressing of issues.

JAN 26 — How much are 200 US$1 bills worth?

Nearly US$44 million (RM150 million), apparently. And before you ask, yes, I can count (with a calculator at least).  In November last year, at a time when we were supposed to be in the midst of the worst recession since even old people can remember, an investor in New York paid that eye-watering amount for a painting of 200 US$1 bills (I’m guessing to prove that old adage that it takes money to make money).