Do not underestimate the Malaysians
Malaysia just launched one of the world’s largest IPO in IHH Healthcare at $2.6b. The company will be listed in the SGX and Bursa Malaysia. What is amazing about this launch is the list of hospitals in its stable. Among the big names are Mt Elizabeth Orchard, Mt Elizabeth Novena, Gleneagles and Parkway Hospitals. If the names sound familiar, yes, they are all the top hospitals in Singapore.
Malaysia has not only bought over this strategic group of hospitals, it also owns one of our power stations, it has bought into two of our brokerages, and I am sure it is also into many other acquisitions of good Sinkie companies. With their oil money, it is quite foreseeable that it could buy up many good assets and companies here.
I see this as a brilliant strategic move. They have turned the table and thrown away their village mindset of always on the losing end when dealing with Sinkieland. They are on the offensive. When everything is for sale in Sinkieland, it is only a right thing to do for Malaysia to buy them up. And don’t forget, it is exchanging Malaysian ringgits for Sing dollar. In the long run, should the ringgit depreciated against the Sing dollar, Sinkieland will end up with much less value ringgits while Malaysia will be sitting on highly valued and well appreciated Sinkie assets.
For those who are worrying about the fate of Sinkieland remerging with Malaysia, not to worry. It need not be. It will be bought over in a matter of time. Don’t underestimate the strategic minds of the street smart Malaysians. Our book scholars will be no match to them as they only think of buying and selling for immediate and short term gains. The long term strategic thinking is somehow absent. And with so many Malaysians here as PRs or citizens, the merging or takeover will be smooth and easy.
And the Malaysians know how to buy good stuff. They don’t go around the world to buy junks or out of luck companies.