(1) The issue of HSR cancellation - the only annoying thing is the compensation we’ve had to pay. Otherwise not a great deal of loss, given the cost and priorities we should be spending money on given current circumstances
(2) The cost of the project was massive, which required the train fares to be priced on the high side, to make commercial sense. The thought that HSR will replace air travel between KUL-SIN is misplaced too. HSR wont be mass market travel but more towards a niche travellers
(3) Taking London-Paris Eurostar as example, it is efficient because of seamless border control at both sides (perhaps trickier now that UK is not EU). Passengers willing to pay the premium. As result London-Paris flight are barely mentioned as form of travel
(4) As long as SG & MY sort out a solution to ensure seamless travel & connectivity, HSR won’t work to the effect it was made it out to be. Taking total travel time of air travel vs HSR door-to-door it will be almost similar. So you’ll be competing on price, not convenience
(5) But over arching question is, in the midst of what we are undergoing economically, HSR is the least of financial burden we need right now. The money could be used for infrastructure that will benefit masses that will help in domestic economic activity
(6) Not disputing that there is massive benefits if we can get it right, construction, comemrcialisation, border control. But our track record in execution of large scale projects is subpar. Not the time to do another expensive experiment, until we get policies right

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More from @jalilword

3 Jan
Every investment management company CEO feels the only way forward is to do M&A and get larger. I had done 6 M&As with previous firms, and can safely say 1+1 is not 2 in M&As. Here’s a thread of my experience in the industry.
(1) Investment management is a people business. Integrating system & process is the easy part. Telling fund managers what to do & how to do is tough. This is often required when M&As are done due to duplication of cost
(2) Most fund managers are set up like doctors in private practice where they run their own shop within a firm, but share the common resources. However in fund mgmt, even client relationship & processes can be unique - resulting in cost going iut of control
Read 19 tweets
31 Dec 20
One of the best corporate decisions made during my time overseas was establishing a mentor / mentee programme. We made all senior management take on mentees for several months.
We paired male managers with female mentees to ensure the unconscious biases are addressed. I took one mentee every year.
We then changed several hiring policies. Headhunters were required to source for candidates that included those who were out of workforce (males & females) due to break / family reasons
Read 8 tweets
20 Dec 20
I received many DMs asking about my experience overseas. I wanted to share my time in Singapore, where we lived for 7 years. We moved there when my eldest was 6 months old. My second child was born in Singapore.
We were on an Employment Pass for many years before we made the decision to apply for Permanent Residency. About 4 years into our stay in Singapore, I received a letter from the government.
Letter was sent from a government unit. It was a personalised letter addressing my wife & children’s names. It talked about importance of people in Singapore’s nation building.
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5 Dec 20
(1) Malaysia gets downgraded from A- to BBB+ . What does this mean? fitchratings.com/research/sover…
(2) What are rating agencies? Rating agencies are third parties who are assigned to analyse a country’s bond and assign ratings. Besides Fitch, two other main rating agencies are; Moody’s & S&P
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Read 13 tweets
9 Nov 20
I had a look at the Budget and penned doen my opinions. Much has already been analysed on the nitty gritty details. I want to focus on 10 points from the strategic perspective. This is a thread.
(1) Way forward. There was not mich detail on the strategic direction of how C-19 economy will look like. What are our sources of revenue? How are we getting more income amidst poorer business sentiment? ..
.. I’d have liked the Budget to have been broken into short term (getting C-19 under control & jobs), medium term (re-opening country & borders) & longer term (structural)
Read 17 tweets
8 Nov 20
Agree. Decisions need to be decentralised.
There is going to be huge educational impact as result of lockdown. Not everybody is blessed to have a device for each child at home to do online learning. As a result, the digital & inequality divide grows further
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