•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

Singapore-based hedge fund manager Pangolin Investment Management has expressed frustration over ASEAN politicians who have let down their respective countries. Pangolin Director James Hay said that the potential for economic growth is so much greater than what is achieved in ASEAN countries because of politicians.

He said, "Corruption and cronyism play a large part, resulting in the economic cost of losing power being so much greater than elsewhere; and Asia’s retired politicians don’t do the U.S. lecture circuit… Singapore is a mature economy, but it’s exceptional political management will ensure that its growth rates remain superior to most. And Indonesia has the most potential but is still being constrained by low commodity prices."

Hay made the statement as his Pangolin Asia Fund slightly fell in August and was down 0.3% (+14.7% YTD), compared to its benchmarks as the MSCI ex-Japan gained 3.4% (+8.9% YTD) and MSCI-ASEAN fell -0.1% (+11.4% YTD) during the same period.

Absolutism props populism and protection

He explained that absolutism is propped up by populism and protection. In Malaysia, where the same government has ruled for 59 years, the voting system is skewed towards the rural population. And he said this is not because there are more people, but because the constituency seat sizes are significantly smaller. There is a big urban-rural wealth dichotomy ......................

To view our full article Click here