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Sunday, May 22, 2016

Who is Carlos Chan? What is he known for?

Promoting entrepreneurship to  GSB students and the Philippines

Rizal Philippines
May 22, 2016

From Philstar Travel and Tourism - Jin Jiang Inn


Who is Carlos Chan?  If you do not know he is #27 in the Forbes list of richest in the Philippines.  He is well known to be the entrepreneur behind the Oishi brand of crackers and other snacks popular in China, Indonesia, Myanmar. He also is behind the Jin Jiang Hotel in San Miguel Avenue in Pasig, Boracay and in Makati.   These hotels are known for their value for money, airport shutttle, large bathrooms and dignified simplicity.

Carlos Chan is 74 and the Philippine special envoy to China (good it is not the Senator putsch leader haha.

Tuesday, May 10, 2016

New tack for Saudi, leaving dependence on oil

Rizal Philippines




From NY times


KSA through its crown prince Mohamad Bin Salman will launch its Vision of 2030 in an effort to lessen KSA dependence on oil revenues.   Times have been challenging for the kingdom when oil revenues are hovering at the $30 price, down from its high of $100.00 in 2014.   Flush with oil revenues at the height of the price, KSA is now suffering and has borrowed money to shore up its liquidity.

One plan involves selling 5% of the shares of Saudi Aramco, one of the largest State owned Petrol company (the company is worth trillion) The idea is to set up fund to fuel the investments.  One of the plans is make KSA a financial capital.   KSA produces roughly 10% or about 10 million barrels of oil a day. and owns one of the biggest oil reserve in the world

Many doubt if the plan would work because of absence of entrepreneurial talents in KSA.  Many citizens would prefer to be given state welfare, prefer not to work, and let expatriates do the job.  All because of dependence on oil.

I have always commented that we are better in the Phil, because we source of fresh water, aquatic resource, forest and food supply.  KSA has nothing.  If it loses its oil (which can be in this lifetime) or difficulties with the market, then pity KSA

What do you suggest for KSA?

More bankruptcies for the oil industry

Many analyst foresee many bankruptcies happening in the oil industry as well for the banks and suppliers.  There could be hundreds of them and they are publicly listed with oil prices hovering at $30.00 per barrel.  The fire in Canada seemed to augur well for oil industry because the prices edged a bit.  Now the danger of fire is over.