myth 88

'Singapore has no talent for international acquisition' The names like Quek Leng Beng, Ooi Hong Leong, (this one think is a pr, or maybe citizen already), Ong Beng Seng, the late Khoo Teck Puat, Wee Cho Yaw, (he has a famous surname), the Royal brothers, Koh Boon Hui, Sim Wong Hoo etc, have been acquiring businesses all over the world, and some of them for many years. They may made some mistakes here and there but nothing earth shaking to raise any eyebrow. These are the seasoned and real mavericks who learned the ropes of doing business deals the hard way without the notes and textbook advises from an Ivy League University. And their records have proven that they are better international deal makers. They are consumate deal makers and will not end up in any rotten deals or paying a ransom for rubbish. The gratifying thing is that they are local talents. Why the need for foreign talents who came with a big basket to scoop and retire in their little paradise somewhere on earth?


Anonymous said...

the most important element of success is guanxi. Yes, no matter what business whether in europe, western or asian, country. GuanXi is the first element of success.
The business-man of the past build the hard way with focus on relatioship rather than win-lose situation and short-term reason.

redbean said...

the hardnose ojective and paper approach is what the technocrats or schooled businessmen will rely on. put everything down on paper and the best bid wins the deal.

a bit like meritocracy. the guy with the best paper or talent gets the job. no guanxi stuff.

business is so simple. never heard of guanxi. only in china. but they are putting those using guanxi behind bars now.

Anonymous said...

Though i agree with you in some ways, I believe guanxi is relevant everywhere. Guanxi is implicitly establish within the elite so that they are much easier to grant their children scholarship. Connection is what make Thaksin's shit in exchange for Temasek's gold, oh sorry, say wrongly, the gold doesn't belong to Temasek, it belong to republic of Singapore, it just that some stupid oldman proclaimming to be founder of Singapore, misuse the fund to buy craps. But then oldman and family still draw ton of salary because it is "just business transaction" and no accountability.
Puppet president with deceptive MM, with clown PM.

Yes, I thought I only see this in TV, but never thought it happen right in my face !!!

redbean said...

i only wish you were talking in your dream.