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Jalil Rasheed Profile picture
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8 Jan, 4 tweets, 1 min read
(1) Logistics - Geographically brilliantly located. We have the busiest sea route next to us. Rather than trying to compete with Singapore, should aim to complement them.
(2) Islamic Finance - we do good job at front end. Almost non existent at back end. Until today I struggle to find a company that can do shariah USD custodian / trustee services. The biggest money is the recurring income business, but back end and not always sexy.
(3) People - despite brain drain, we still have many brilliant minds. This must be marketed when we attract companies. With good training many will rise to occasion. We are also English speaking nation, big advantage over many countries in region.
(4) Cost - Cost of real estate, rental & operational expenses cheaper in M’sia than Singapore. But pay people well on par with regional peers if they are doing same job. Dont cut corners on wage, otherwise we create another problem

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More from @jalilword

Jalil Rasheed Profile picture
10 Jan
(1) When you don’t communicate policies effectively, somebody else will, albeit incorrectly. This is called rumours. This is made worse during information vacuum, the period between saying you’ll announce something, and actually announcing it.
(2) Content - The government is in a position to control the narrative, avoid panic, minimise misinformation - how rumours starts. Govt also controls most media machinery - this should be simple.
(3) Audience - Govt must understand that vase majority of population are common people who are earn wages. They want to know how closures will affect them, their wages, their families. It’s day by day survival for many.
Read 9 tweets
Jalil Rasheed Profile picture
8 Jan
Indonesia has 270m population, naturally the economics makes a lot of sense. Companies setting up there are driven by sheer size of the market, or potential middle income group. Long term game, some succeed, many fail.
Doing business in Indonesia is not easy given its federated system. Governors & mayors are powerful, and there are different rules in different places. Logistically too Indonesia is challenging (if you are doing consumer related business). But there lies the opportunity
Indonesia still has long way to go in making business easier to operate. The bureaucracy too much. But because of the large market, many willing to stomach this for the longer term.
Read 4 tweets
Jalil Rasheed Profile picture
8 Jan
(1) When it comes to attracting companies to set up here, we must know what edge we have. Do we offer good legal protection? Do we offer good talent? Is the eco system present?
(2) Singapore is an expensive place to operate, but many high tech companies are willing to stomach this in return for IP protection espcially those in heathcare & technology sectors
(3) Trade perspective, Singapore also has agreements in place to allow seamless exports / imports of products. Housing an operation here can make sense from tax & legal perspective
Read 7 tweets
Jalil Rasheed Profile picture
8 Jan
Several reasons:

(1) There is a huge funding gap in early stage & Series A in Malaysia. If this is not addressed, you won’t find companies making it to Series B, C & beyond
(2) Many agencies locally giving out grants. But issue is not co-ordinated. Some have PE like criterias when assessing VC opportunities. The mismatch between reality & expectations. It is then that we start losing to other countries
(3) When approaching VCs, must be prepared to lose 90sen of every Ringgit invested. That one unicorn will outweigh all losses, like how Grab has been for Temasek (which explains why they are headquartered in Singapore)
Read 6 tweets
Jalil Rasheed Profile picture
3 Jan
(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
Read 6 tweets
Jalil Rasheed Profile picture
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

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