Background: Bangladesh’s Power Shortage Crisis is Attracting Some very Strange Operators

Note:  I am on vacation.  Patchy internet coverage implies I won’t be doing much heavy writing but I figure I should get rid of some odds & ends and “color” notes I’ve been collecting. “Normal” service should return in a week.  Maybe more. This one is about an interesting — to say the least — encounter I had on a fishing trip in Bangladesh a while ago.  My sources tell me the person and the circumstances haven’t changed much.

Meghnaghat CCGT, Bangladesh

By most accounts, one of the disasters facing Bangladesh is the dire shortage of electric power in the country.  That it doesn’t is testament to the ruling elites’ singular venal incompetence.  The for-profit private sector is rather better at their job and I’ve been sniffing around looking for some investment opportunities for a while.  Public equities in the country are a mug’s game, but the power sector looked interesting because it is that nexus of infrastructure & real assets I love while the investment opportunities were also private. Continue reading “Background: Bangladesh’s Power Shortage Crisis is Attracting Some very Strange Operators”

Trade Notes: Start Trawling for Macquarie Assets Disposals?

Source: Wilkinson Architects

Hard assets that pay reliable income are a pretty good idea at the best of times — especially if you’re not the greedy kind of investor — but right now, they are a bloody good idea.  Gross and El-Erian’s “new normal” predicates the ownership of real assets with stable and secure income.  Factor in the possibility of Renee Haugeruud’s “inverse stagflation” entailing under-performing traditional paper assets — like stocks & bonds — and soaring real asset values and you get the picture. Continue reading “Trade Notes: Start Trawling for Macquarie Assets Disposals?”

Trade Notes: What’s Mukesh Ambani up to?

Big news in the Asian news section of Bloomberg TV was that Mukhesh Ambani (Haslinda Amin pronouncing him Mukhil — got confused when she was asked about Mukhesh and Anil!) is paying

10.2 billion rupees ($217 million) for a 14.12 percent stake in EIH Ltd., which runs the Oberoi and Trident hotels, according to a statement yesterday.

The breathless “India Rising/shining” hyperbole aside, what gives? Continue reading “Trade Notes: What’s Mukesh Ambani up to?”