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7th Rangers: Panasonic to close some operations here, hundreds to be jobless By Isabelle Leong & S Vinothaa

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Panasonic to close some operations here, hundreds to be jobless By Isabelle Leong & S Vinothaa
Thursday, June 01, 2023
Not to worry, PAS and the Kelantanese Government will provide, ka! ka! ka! ka! ka!

Malaysiakini : Commuters on the Federal Highway, especially on the Shah Alam stretch, would find it hard to miss Panasonic Malaysia’s iconic factory along the expressway.

Established in 1965 as Matsushita Electric Company Malaysia Bhd and renamed Panasonic Manufacturing Malaysia Bhd (PMMA) in 2005, the Japanese firm employed more than 2,000 in multiple plants across Malaysia at its peak at the turn of the century.

However, the tides appear to be turning for the manufacturing giant. It is believed its manufacturing plants in Malaysia are soon to be shuttered, leaving hundreds of workers jobless, Malaysiakini has learnt. This comes after PMMA last year lost two separate lawsuits alleging that its former suppliers, executive director Chen Ah Huat and employees, defrauded it of millions of ringgit in payment for work that could not be verified as being delivered. 

A source privy to the matter divulged that PMMA’s then-executive director Chen was made to leave in 2013, and subsequently 15 managers were also terminated. The company also launched a zero-corruption framework emphasising transparency, integrity and whistleblowing.

Months after it lost the lawsuit, PMMA shut down its kitchen appliances manufacturing operations in its SA1 plant, located at Section 15, Shah Alam, on March 17, affecting 75 local workers. Sixty of those workers left on the mutual separation scheme (MSS) while 15 others were moved to other departments.

Focusapp : The closing down of factories, not just Panasonic, over the decade is merely a harbinger of things to come. Sadly the bloated government is too slow and unresponsive to the global business environment. Outdated policies which are skewed to racial and religious profile will bring more hardship to the country.

Rampant corruption, cronyism and tidak apa attitude continues to drag Malaysia's declining economy to a low middle income nation. Time to remove these policies and make Malaysia better (not great because it won't be great. It never was great) again. The neighbouring island country's GDP in US dollars has even exceeded Malaysia's GDP despite having no resources.

OCT : It's sad and heartfelt to see MNC sizing down and leaving Malaysia. Malaysia has been a wonderful country for investment in the good old days. Malaysia had a talented pool of good people, less restrictive in religious laws, almost non racial inclusiveness and most important no kleptocrat.

Malaysia has changed from a roaring tiger to a wounded and abandoned cat. Religious sentiments can become law overnight and subject to many interpretation by different religious leaders. Talented Malaysians had migrated leaving behind a great pool of religious Malaysians who are more interested in the next life than the current economy and huge deficit. Money lost to corruption are not recovered.

The irony is that you can keep the stolen money even you are convicted for corruption. Malaysia is very generous to crime. Neighbouring countries are opening up to attract investors whereas in Malaysia, it is building up restrictions and barriers in race and religion to stiffen and scare investors. No way investors can continue or come to invest in Malaysia based on these harsh rules and regulations

Read it all here.....
posted by Major D Swami (Retired) @ 4:21 PM  
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