Comments on the Russian front
It's a sad state of affairs indeed when investors coming to Singapore are eyed with suspicion just because of their country of origin. Rather than fall back on stereotypes and generalisations, investors should consider each individual on their merits. So when Mikhail Bolotin reportedly declared his intention to bring airconditioner maker Dunham-Bush to Singapore, after taking the company private on Bursa Malaysia, the first thing everybody seemed to think of was the autocratic Russian administration, the president who replaced himself with a ventriloquist's puppet whose words he steers from the prime minister's seat, and what Newsweek magazine described as a feudal system of government. Folks, it doesn't have to be that way. We should welcome people like Bolotin, who bring their fortunes here.
Just because Bolotin is 157th on the list of Russian billionaires doesn't make him a bad guy. Afterall, even though he is worth 3.9 bln Rubles that only translates into US$140 mln. And getting less by the week.
We should also avoid any finger-pointing, just because Bolotin's Most has a virtual monopoly over the manufacture of tractors in Russia.
And when Russia's online daily newspaper Kommersant reports that "Mikhail Bolotin's successes are directly connected with Vladimir Putin's presidency", we had better consider the facts ourselves before jumping to conclusions. After all, if we were to invite only those Russian businesspeople who achieved their wealth without Mr Putin's help, we'd have a pretty empty list.
I am also certain that if Mr Bolotin wishes to list his tractor concern on the Singapore Exchange in November this year, the Monetary Authority of Singapore would have a pretty good look at it.
Mark Laudi, who has never met Mikhail Bolotin.
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Just because Bolotin is 157th on the list of Russian billionaires doesn't make him a bad guy. Afterall, even though he is worth 3.9 bln Rubles that only translates into US$140 mln. And getting less by the week.
We should also avoid any finger-pointing, just because Bolotin's Most has a virtual monopoly over the manufacture of tractors in Russia.
And when Russia's online daily newspaper Kommersant reports that "Mikhail Bolotin's successes are directly connected with Vladimir Putin's presidency", we had better consider the facts ourselves before jumping to conclusions. After all, if we were to invite only those Russian businesspeople who achieved their wealth without Mr Putin's help, we'd have a pretty empty list.
I am also certain that if Mr Bolotin wishes to list his tractor concern on the Singapore Exchange in November this year, the Monetary Authority of Singapore would have a pretty good look at it.
Mark Laudi, who has never met Mikhail Bolotin.
To comment on this blog, go to the Investor Central blog.
Visit the brand new Investor Central website! for free SMS alerts to news about stocks in your watchlist
Labels: Dunham-Bush, Mikhail Bolotin
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