theSun | MONDAY JANUARY 5 2009 21

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Long wait for key information

MALAYSIA has a lot of data. highlights one fact – the mestic product (GDP), in Thai and English by the National
Stop the Gaza killings
LET US help put an end to this madness
that is engulfing Gaza. The killings cannot
be allowed to continue. It is too much. Even
places of worship and ambulances have
The problem is much of the data extraordinary long time Malaysia is even more Economic and Social Development been attacked.
is ensconced tightly within the lag of six months be- of a laggard. Last Friday, Board, the quarterly report also As I write this Israel artillery continues
confines of government offices. tween the close of the Singapore became the includes the names of officials to shell the Gaza Strip stepping up the of-
Another problem is information is financial year and the first Asian economy responsible for compiling specific fensive against Hamas. The offensive has
disseminated publicly only after a holding of a public listed to publish its estimate tables, their email addresses and entered its second week and desperate
considerable time lag; by the time it company’s AGM. By of 2008 GDP growth. extension numbers. residents cower in their homes. And now
is published, the figures are of aca- any yardstick, this time However, its estimate is Lack of timely information could humanitarian agencies warn that food,
demic interest rather than useful. frame is excessive. based mostly on Octo- increase entrepreneurs’ uncertainty water and medical supplies are running
Additionally, although informa- Assuming a compa- ber and November data; about the business environment. short. It is a desperate situation, yet noth-
tion may be legally required to be ny’s financial year-end the island will issue a In such a situation, they are more ing concrete can be seen to end the killings,
released expeditiously, enforcement is December, it is legally more comprehensive likely to adopt a wait-and-see at- now numbering more then 400.
MakingSens We in Malaysia have asked for some
by the relevant authorities is, at best, required to announce report in February. titude, a stance that could stymie
patchy and, at worst, non-existent. its financial results by Tan Siok Choo Thailand will an- policymakers’ hopes of making action to end these attacks. And the world
Indeed, the laid-back attitude within two months nounce its fourth quar- private investment the catalyst for community and the United Nations must
of government departments on – that is, before end-February. The ter 2008 GDP on Feb 23, less than economic growth. act quickly. They must act now, as more
this issue underscores their lack company is given another two two months after end-December. To paraphrase a judicial maxim, and more bloodshed occurs and even
of awareness that making timely months to publish its annual report In contrast, Malaysia will publish information delayed may well be a children are killed. The killing of civilians
information publicly available is the (before end-April) and yet another its 2008 GDP figure in late March, business opportunity denied. must be condemned by all peace loving
life-blood of good decision-making, two months to hold its AGM (before more than one month after Thailand people.
particularly among top policymak- end-June). but in line with the IMF standard The world is against any form of vio-
ers and entrepreneurs. Nothing, however, prevents a of releasing quarterly data within The writer is a director of a public- lence, yet we do not do much to bring an
Two examples will serve to company from initiating photogra- three months after the end of the listed company. Opinions expressed end to it. Why? This is a humanitarian issue
illustrate this country’s information- phy, compiling corporate data and quarter. in this article are the personal and not a Muslim issue. People of all faiths
anorexic environment. drafting write-ups on items unre- Even more praiseworthy, Thai- views of the writer and should not must help to restore sanity. And the dignity
First, two public-listed compa- lated to the financial results even land’s quarterly GDP report contains be attributed to any organisation of the Palestinians must be restored.
nies – Tanah Emas Corp and Chin before the latter is released. a one-year schedule indicating the she is connected with. She can be
Well Holdings – released their re- Why isn’t it possible for annual date and time for the release of contacted at schoo@noordinsopiee. Bulbir Singh
sults and declared their dividends reports of public-listed companies future economic data. Published com. Seremban
in August last year. When their to be published within 10 weeks
annual general meetings were – instead of the current 16 weeks
held four months later, the majority – from the end of the financial year?
shareholders of both companies This will enable an AGM to be held
vetoed the resolution regarding the much earlier – for example, within
payment of dividends – even though 12 weeks instead of the current
this resolution had been endorsed half-year grace period. Draw No: 01/09 Draw Date: 04/01/2009 Draw Venue: Perak Turf Club
by both companies’ directors at Second, much of Malaysia’s
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their board meetings.
Two issues are involved. First,
economic data is released far too
late. October’s trade numbers, for RM7,500,000 8 7090344
public-listed companies are legally example, were released only last
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immediately of any circumstances improvement over the previous
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extension, this suggests directors Last Friday, South Korea released
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In times of share price volatility, quicker than Malaysia. Trade data
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non-payment of dividends could for November was available on Dec
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The flip-flop by directors who isn’t it possible for this country to 5948385 6615364 6795567 7782442 7834622
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