UPDATE Thursday July 15, 2010 ** It has been brought to my attention by Khazanah Nasional Managing Director Tan Sri Azman Mokhtar that Khazanah Nasional does not own any shares in Sime Darby Berhad and that reports of its intention to buy into Aman Resorts remains speculative **
1. Fresh from losing three billion ringgit via its majority owned firm Sime Darby, I hear that Khazanah is buying or going to buy “Aman Resorts”.
2. These are six star resorts in Bali, Phuket and other exotic places. I don’t know how profitable they are but I do know that hotels and resorts are not easy to manage, even less easy to make profits. It is the management companies which make the profits because profitable or not they get their cut of the takings.
3. I am sure Khazanah is well aware of this. Perhaps it is also aware that its investments in fishing had failed. The boats, the nets and other fishing paraphernalia are now dumped in the Langkawi Boustead boatyard. I am told they are for sale.
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