Tokyo Stock Exchange suspended its stock index futures and options trading from 9:21 am to 1:45 pm after hit by computer system glitch, thanks to programming mistake by Fujitsu. Tokyo Stock Exchange’s managing director Yoshinori Suzuki immediately told reporters that the trading house is considering seeking compensation from giant Fujitsu. Fortunately they managed to identify the problem and the resolution fast or else Bursa Malaysia’s CEO Yusli might just laugh and justify that Bursa’s recent one-day failure was acceptable after all.

Investors are dumping Apple Inc.’s stock as of this hour after the iPod and iPhone maker issued cautious guidance despite earnings that beat Wall Street’s expectations by 11 cents a share. Revenue jumped 38 percent and earned $1.07 billion for the quarter with iPod sales up 12 percent and over 717,000 units of iPhone shipped.

Anyway, it appears Malaysian utility player, Tenaga Nasional Berhad’s (KLSE: TENAGA, stock-code 5347) is toying with the idea of constructing the country’s first nuclear power plant at a cost of USD$3.1 billion (about RM10 billion). Apparently the government has asked Tenaga to look into such option with the escalating global oil prices. Deputy PM Najib had said in June that the country may consider nuclear power as a long-term strategy to meet its’ demand. A task-force has been setup and the first blueprint is expected to be revealed in August 2008.

Although the plan is at its infancy stage the public is expected to object to such a dangerous toy, not so much of the nuclear plant itself but more on the operation and how the small nation could survive any deadly radiation from possible negligence. Malaysian especially the government officers (to certain extent its servants) is known to have first class infrastructure but third class mentality. Of course with the proven system deployed in other developed countries there should be little problem in building such a mega structure but could Tenaga handle such a deadly generator?

If the 1986’s Chernobyl’s nuclear reactor disaster were to happen again, you can be sure that all the Asean countries would become sitting ducks. The question is whether Malaysia is ready mentally to operate and maintain such toy.

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July 22nd, 2008 by financetwitter

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