Thursday, July 31, 2008

Global Carriers ... July 2008

Global Carriers Bhd’s wholly owned Budisukma Cekap Sdn Bhd has entered into a shipbuilding contract with Ningbo Shipyard Co Ltd to construct one 10,000 deadweight tonnes double-hull product oil tanker for RM63.38 million cash as part of its aim to expand its fleet size and market share.

The contract would be funded via internally generated funds and bank borrowings, and would increase its gearing level. As at March 31, 2008, the group’s cash and balance stood at RM2.14 million, while its short-term borrowings totalled RM1.46 million.

For its first quarter ended March 31, 2008, Global Carriers slipped into the red with a net loss of RM493,000 versus a net income of RM3.87 million a year ago mainly due to lower effective net rates and lower utilisation, while one of its vessel was under scheduled dry docking.

Wednesday, July 30, 2008

Perstima ... July 2008

A tin plate manufacturer is confident that its balance sheet will improve, following a recently completed expansion programme at its facilities in Pasir Gudang, Johor, and Vietnam.

The company spent some RM60 million to upgrade facilities at these plants since last year (2007). They completed upgrading our facilities in Pasir Gudang with investment of RM26 million last year (2007). And just completed upgrading its facilities in Vietnam last May that cost us about US$10.7 million (RM34.6 million).

At this stage, they don't have anymore plans for future expansion.

At present, Perstima exports its tin plate products to several countries such as Iran, Bangladesh, Sri Lanka, Indonesia, Australia and Vietnam.

Perstima had already seen some improvement in its balance sheet up to March this year (2008) as its cash position stood at RM40 million from RM37 million the year before.

Financial Results …

For the financial year ended March 31 2008, the group recorded turnover of RM740 million, an increase of 12.1 per cent compared to the previous year. This was due mainly to the higher sales volume for both plants in Pasir Gudang and Vietnam.

However, Perstima posted a lower pre-tax profit of RM48.7 million compared with RM59.4 million in the previous year due to a lower profit margin.

Kinsteel ... July 2008

Kinsteel Bhd will be able to reap up to RM97 million cash raised from the proposed listing of Perwaja Holdings Bhd.

However, Kinsteel would not undertake a capital repayment exercise for its shareholders, as the proceeds raised would be use to develop its downstream steel mills and other capacity expansion activities.

Pheng, who is also the son of Kinsteel’s managing director Tan Sri Pheng Yin Huah, said post-listing of Perwaja Holdings, there would be no changes to the shareholding structure of Kinsteel’s major shareholders.

Kinsteel will still own 37% in Perwaja after the listing, which will allow the company to reap high returns from Perwaja’s operations. Kinsteel would have the option to up its stake in Perwaja Holdings to 51% by converting its irredeemable convertible unsecured loan stock (ICULS) of 10 sen a piece. Kinsteel do not plan to convert them to stocks immediately, as they can do that within 10 years’ time.

Kinsteel also owns 51% stake in Perwaja Gurun, which is not part of Perwaja Steel Sdn Bhd.

Monday, July 28, 2008

Perwaja Holdings Bhd ... July 2008

Perwaja Holdings Bhd expects to fully settle its outstanding debts of RM250mil within five years. The group had signed an agreement with the Finance Ministry to make scheduled instalments for the remaining debts starting early this year (2008).

Perwaja was saddled with about RM800mil debts when Kinsteel Bhd bought 51% stake in Perwaja Steel Sdn Bhd and its Gurun assets from Maju Holdings Sdn Bhd in 2005.

The turnaround in Perwaja is now (July 2008) progressing well with gearing ratio at about 0.6 to 0.7, which is among the lowest in the local steel milling industry.

Friday, July 25, 2008

A Small Gesture

A Glass of Milk

One day, a poor boy was selling clothing door to door, to pay for his education realized that he only had ten cents left in his pockets. He was hungry and so decided to ask for some food at the next house that he came to.

In the meantime he lost his hunger when a beautiful young woman opened the door. Instead of a meal, he asked her for a glass of water.

She saw that he was very hungry so instead brought him a huge glass of milk. He drank it very slowly and then asked- « How much do I owe you? »
« You do not owe me anything at all », she replied:- « My mother taught us never to accept anything for doing someone a kindness».
He replied : « Then I thank you from the bottom of my heart ».

When Howard Kelly left the house, as well as feeling stronger physically, he sensed a return of his faith in the lord which he had nearly abandoned.

Years later, this same young woman fell gravely ill. The local doctors were mystified, so they sent her to the big city where they knew that the specialists would be able to diagnose this rare sickness.

Doctor Howard Kelly was called as a consultant. When he heard the name of the city where she lived, a memory burned brightly in his eyes.

He got up and went to her room. As he entered her room, he immediately recognized her. He returned to the consultation room, determined to do his best to save her life.

From that day on,he paid special attention to this case. After a long battle, the war was finally won

Doctor Kelly left instructions that the bill should be sent to him for authorization. He looked it over, wrote something in the margin, and sent it to her room.

She thought that when she opened the envelope she would find an invoice that would take the rest of her life to pay in full. But when she finally opened it.

Something caught her attention in the margin of the invoice.

She read these words: Paid in full with a glass of milk : Doctor Howard Kelly.

Tears of joy filled her eyes and her heart. She prayed :« Thank you lord, for your love has crossed the hands and hearts of man ».

There is a saying that goes like this:
Bread thrown over the water returns to you.

An act of goodness that you do today can come back to you or someone that you love, when you are not expecting it. If you do not see this act of goodness returned, at least you will have made a difference in this world. And in the end, isn’t that what life is all about?

Thursday, July 24, 2008

Leweko Resources Bhd...July 2008

It is acquiring a 51% stake in SCK Wooden Industries Sdn Bhd for RM7.9 million cash as part of its plan to expand its downstream timber manufacturing activities and to increase its product range.

The acquisition, which is expected to be completed by the fourth quarter of 2008, would enable the group to leverage on the marketing network of SCK and contribute positively to its earnings potential. The wider range of products and increased market access will also provide a good avenue for the Leweko group to achieve product and market diversification.

SCK’s solid and two-ply engineered hardwood flooring, which has earned a solid reputation from its customers in Italy and the United States, would widen the range of the group’s products.

The proposed acquisition, which will see SCK becoming a subsidiary company of Leweko Capital, would be financed via internally generated funds and bank borrowings.

Wednesday, July 23, 2008

New Matching Price Mechanism On 28th July 2008

On the 28th July 2008, Bursa will implement a new matching price mechanism. Pls Take Note!

Important features you need to know …

1. From 8:30am-9:00am, a “theoretical opening price” or TOP will be display which
means at this price will be matched. Else it will not shown any TOP but instead
just the buyers and sellers qty.
2. From 9:00am – 12:15pm, will be as usual.
3. From 12:15pm-12:20pm will be based on theoretical matching price.
4. From 12:20-12:30pm, a theoretical matching price will be displayed. U R not
allowed to buy/sell higher/lower than that price.

Above will also be applied to the second session ….

PLS BE CAREFUL … The new system matched (BUYERS and SELLERS) VERY FAST (as stated by the Bursa officer), so CANNOT be easily cancelled.

IF U R UNSURE PLS DO NOT DO ANYTHING BEFORE THE MARKET OPENED !!!!!!!!! USED TO THE NEW SYSTEM FIRST! !!!

Interested on NARUTO?

Naruto episod.

Tuesday, July 22, 2008

寻找穴道的诀窍

穴道疗法最难的,就是穴道的找法。

没有什么比穴道疗法更适宜作为家庭疗法的。但大多数人并不知道寻找穴道的诀窍,自然因找穴道困难,而不被广泛使用,真是可惜。

还有,关于穴道疗法的书虽大量出版,可惜的是,简单且准确地介绍寻找穴道的诀窍的书并不多见。这使得外行人即使想到要利用穴道疗法,也无法如愿。

因此,本站在严选特别有效穴道的同时,也尽可能详细地介绍任何人都能简便地找到穴道的方法。

寻找穴道的诀窍,在本站相关疾病穴道疗法的网页中都有详细的说明。这里仅就一般寻找穴道的诀窍,做一个简单的介绍。

穴道,也就是出现反应的地方。身体有异常,穴道上便会出现各种反应。这些反应包括:

  ①用手指一压,会有痛感(压痛);

  ②以指触摸,有硬块(硬结);

  ③稍一刺激,皮肤便会刺痒(感觉敏感);

  ④出现黑痔、斑(色素沉淀);

  ⑤和周围的皮肤产生温度差(温度变化)等。

这些反应有无出现,是有无穴道的重要标志。

若找到本站所提到的穴道,先压压、捏捏皮肤看看。若出现前述的反应,即可判断有穴道在。

另外,此站在穴道的找法中,频频出现“两指宽”、“三指宽”等字眼,这是计算穴道位置时的基准,有“同身尺寸”之说。例如,“一指宽”是指大拇指最粗部分的宽度;“两指宽”则是指食指与中指并列,第二关节(指尖算起的第二个关节)部分所量的宽度。

手指的大小、宽度,依年龄、体格、性别而有极大的不同。以此法确定穴道位置时,务必以患者的指宽度来找。

Monday, July 21, 2008

Mulpha Land Bhd ... July 2008

It will be launching four new high-end projects in Kuala Lumpur over the next two years with a total gross development value (GDV) of RM500mil. They include three residential projects in Ampang, Bangsar, and Bukit Tunku and an office tower in Jalan Sultan Ismail.

The very high-end Bukit Tunku development on 2.5-acre freehold land, would have bungalows priced around RM15mil each.

As for the Bangsar project (opposite Tivoli Villas), only seven units of three-storey bungalows priced at RM9mil to RM10mil would be built in the gated and guarded community.

Another upmarket development is the Raintree Residence, opposite the Raintree Club at Jalan Wickham in the diplomatic enclave of Ampang Hilir and U-Thant. Kuala Lumpur City Centre is about 3km away.

Mulpha will also build a Class “A” Green office building called 12 Jalan Sultan Ismail. The 23-storey building with four basement-parking levels has a lettable area of about 270,000 sq ft. It fronts Jalan Sultan Ismail and also Lorong Perak (opposite Shangri-La Hotel).

On its 474ha award-winning Sanctuary Cove on Queensland’s Gold Coast, Lee said sales had been very good and the whole area was one of the fastest growing in the region.

Mulpha Land Bhd is the property arm of the Mulpha group and is listed on the second board of Bursa Malaysia. Its flagship Leisure Farm Resort in Johor has won many property awards including two FIABCI Malaysian Chapter awards.

Saturday, July 19, 2008

Bursa CIO quits....How about the CEO?

KUALA LUMPUR: Bursa Malaysia Bhd chief information officer (CIO) Yew Kim Keong has resigned from the stock exchange, taking responsibility for the hardware failure in the trading system that resulted in an unprecedented one-day trading halt on July 3.

It is learnt that Yew had tendered his resignation and would be on leave from today until his official departure from the bourse at the end of the month.

When contacted by The Edge Financial Daily yesterday, Yew declined to comment.

A source close to Bursa Malaysia said Yew, as the CIO, had personally taken responsibility for the technical failure. However, the rumour mill is circulating that Yew has been made the “scapegoat” and that the powers-that-be had directed a deliberate halt to prevent a heavy selldown in the market that day.

Bursa Malaysia has said the trading halt was purely due to the technical failure and flatly denied the rumours of having received orders from “the top” to suspend trading to prevent any panic-selling.

Hewlett-Packard (M) Sdn Bhd or HP, which is the vendor of the HP Non-Stop Hardware, the existing architecture used by Bursa, has also said the trading halt was due to faulty hardware and not a “deliberate move” to stop trading.

Yew, together with Bursa Malaysia chief executive officer Datuk Yusli Mohamed Yusoff and HP representatives, was at a press conference that week to explain the technical failure. Industry sources said Bursa Malaysia may be exploring the option of claiming damages from HP.

Yew had said the back-up system had taken longer than expected to kick in due to additional measures that were adopted to ensure trading integrity.

A computer science graduate with over 25 years’ experience in information technology, Yew was a member of the pioneer team that initiated the computerisation for the then Kuala Lumpur Stock Exhange.

Subsequently, he also implemented several major IT projects for the industry, including the trading, clearing and settlement and depository systems.

He held various key positions in the Bursa Malaysia group, including assistant general manager IT of Bursa Malaysia Securities Clearing, and senior vice-president, facilities management of Bursa Malaysia.

Bursa Malaysia consolidated its CIO positions into one. Yew was the CIO of operations prior to his appointment as the group CIO in October 2005. He was also the project director for Bursa Trade Derivatives, which was launched on Nov 20, 2006.

Comments:
Is this volunteer or been sack due to hiding reason?
After the Bursa trading failure CEO mentioned: "Since I'm the head of management, I have to be fully accountable", here, and now?
I think CEO should be the most accountable for this.

Friday, July 18, 2008

Ingress Corp Bhd... July 2008

Ingress Corp Bhd's 49% associate company, Balfour Beatty Rail Sdn Bhd (BBRail), in a joint venture with Ansaldo STS Malaysia Sdn Bhd, has been awarded a RM1bil contract by MMC-Gamuda Joint Venture Sdn Bhd.

The contract was for the implementation of the rail systems package for the Ipoh-to-Padang Besar double-tracking project.

BBRail would be involved in the design, supply and installations of electrification and power supply. The project was for 54 months and was scheduled for completion in January 2013.

The project was expected to contribute significantly to the earnings of the group.

Thursday, July 17, 2008

DFZ Capital Bhd ... July 2008

DFZ Capital Bhd has emerged as the dominant player in the duty-free market along the Malaysia-Thailand border following the completion of its acquisition of the entire equity interest in Emas Kerajang Sdn Bhd (ERSB) in January 2008.

The acquisition of ERSB at RM40 million represented a synergistic move for the DFZ Group to further capture the duty-free market via its Zon shopping centres nationwide and dominate the industry.

*** DFZ Group signed a shares sale and purchase agreement with Atlan Holdings Bhd in September 2007 for ERSB, which owns and operates a duty-free complex at Padang Besar in Perlis. The duty-free complex offers one-stop shopping at the Malaysia-Thailand border crossing ***

DFZ already had a presence at the Malaysian-Thailand border through its subsidiary operating in Bukit Kayu Hitam, Kedah and Rantau Panjang, Kelantan.
Besides those at the Malaysian-Thailand border, DFZ also operates duty-free shopping centres in Langkawi, Penang, the Klang Valley, Malacca, Tioman Island and Johor Bahru.

Financial Results …
In 2007, DFZ achieved profit after tax of RM18.57 million, 42.41% higher than the RM13.04 achieved in 2006. Its revenue for the year rose by RM29.04 million to RM304.97 million compared to 2006.

Wednesday, July 16, 2008

Linear Corp Bhd ... July 2008

It is eyeing its first overseas venture for district cooling systems in the Middle East and exploring similar ventures in other parts of Asia.

Following its success in developing district cooling systems at the Curve in Mutiara Damansara and Bandar Baru Perda in Bukit Mertajam, it was now in negotiations with both local and foreign townships to develop further district cooling systems. Each cooling system can cost above RM70 million to RM80 million, depending on the extent of coverage.

It expects to have its first overseas project sealed in the Middle East by the fourth quarter 2008 via a joint venture with a local party, while they are also in negotiations for another three district cooling systems via joint ventures.
They are also negotiating with some parties in India for the same but that is still on the drawing board.

Linear wanted to leverage on the current high energy cost by offering district cooling systems that could translate into substantial savings of between 30% and 50% for its customers compared to conventional air conditioning units. With the imminent global focus and commitment in energy conservation as well as control of carbon dioxide emission to combat global warming, there is a vast upside potential for itd district cooling business.

Efforts are also being carried out to fully develop the district cooling systems in Malaysia.

They are currently in talks with developers of new townships to adopt this paradigm shift and conceptual change within their development with the district cooling systems.

Efforts are also under way to reposition the manufacturing and servicing of cooling towers which are used by the industries.

Linear is also seeking to further enhance its cooperation with US-based Baltimore Aircoil Company (BAC) to capture BAC’s worldwide market. With BAC as equity partner to bring in technology and state-of-the-art expertise in cooling towers, it hopes to develop themselves to be competitive as a quality and suitable partner for BAC worldwide.

Following a restructuring exercise which saw several subsidiaries being closed down and a new management team in place, Linear posted a net profit of RM4.98 million in FY07 versus a net loss of RM19.99 million in FY06.

Tuesday, July 15, 2008

Dr M: Muhyiddin can beat Najib for No 2

Should Muhyiddin Yassin challenge Umno deputy president Najib Razak, the senior vice-president can win the contest, said former premier Dr Mahathir Mohamad today.

“People perceive Najib as a weak leader who has never had his own stand. He merely has been repeating ‘I support, I support. I’m very touch’,” said Mahathir while opening the party office of the Malaysian Indian Muslim Congress (Kimma) in Sentul.

In a broadside against Najib, the former Umno strongman ticked off the deputy premier for failing to project the “people’s vision”.

“People are generally disenchanted with Najib. So it is possible that (Prime Minister) Abdullah (Ahmad Badawi) may not be able to manipulate the general assembly to grant a victory to Najib.”

Both Abdullah and Najib have been endorsed by Umno leaders in six states so far to defend their party’s No 1 and No 2 posts respectively.

“If he (Najib) compete for deputy president, he would have compete again Muhyiddin. And it is quite possible that Muhyiddin will win and Najib will lose,” said Mahathir.

He said that by tradition, only deputy president can be deputy PM. Thus, should Muhyiddin is able to win the party No 2 post, he should be appointed DPM.

“Therefore, when the time comes for the PM to divest his interest in the government, Najib would not in a position to receive this award.”

Mahathir who had once supported Najib to be Abdullah’s successor appeared to now backing Muhyiddin.

It is still not clear whether Muhyiddin will be game enough to challenge Najib, but the senior vice-president has been left out in the cold after Abdullah announced last week that he would hand over power to Najib in two years’ time.

Deleum Bhd ... July 2008

The firm plans to acquire stakes in more independent power producers (IPPs) and grow its power-plant construction order book across Asia to expand the company’s earnings base.

This comes on top of its bread-and-butter oil and gas unit which supplies and services equipment like gas turbines and wellheads, capitalising on soaring prices of crude oil that is prompting more oil and gas production.

The company was targeting emerging regional power markets like Cambodia and Indonesia. It intends to invest in smaller power plants with estimated output of 50 megawatts (MW), and secure more engineering, procurement, construction and commissioning (EPCC) contracts.

*** Deleum, listed on Bursa Malaysia’s Main Board in June 2007, is not new to the power-generation business. In 1995, the firm acquired a stake in IPP Cambodia Utilities Pte Ltd, which supplies 35MW of electricity to the capital Phnom Penh,

In Malaysia, Deleum was the EPCC contractor for a 9.6MW co-generation power plant, which was commissioned in 2007, for Muda Paper Mills in Kajang ***

The IPP stakes generate recurrent income to safeguard earnings against business volatility. Deleum’s ablility to clinch more projects and expand its new businesses is crucial for its sustainability.

The construction of new platforms, maintenance works and increased drilling activities will drive Deleum’s earnings. Deleum is one of the leading contenders for the supply of turbines and related parts for the Sabah-Sarawak Onshore Gas Transmission pipelines.

Deleum has the ability to gear up, as it currently sits on a cash pile of RM38 million as at March 2007, which translates into cash of 48 sen per share. For now, Deleum’s oil and gas unit already has some RM1 billion worth of jobs in hand, and it is bidding for about RM300 milion worth of contracts to boost its order book.

The company imports oil and gas industry equipment from manufacturers like Solar Turbines Inc and provides maintenance services. However, a foray into manufacturing of oil and gas equipment is already on the cards. Deleum planned to collaborate with its foreign equipment makers to set up production facilities in Malaysia.

In September 2007 it planned to acquire a 51% stake in Penaga Dresser Sdn Bhd (PDSB) for RM7.25 million. PDSB, 49%-owned by engineering products entity Dresser Italia, supplies valves and flow regulators for the oil and gas industry. The partnership with Dresser Italia will also open up opportunities for the group to venture into local manufacturing activities in the future.

Financial Results:
For the first quarter ended March 31, 2008, Deleum’s net profit rose 3.5% to RM5.88 million from RM5.68 million a year earlier, although revenue fell 30.2% to RM83.6 million from RM119.84 million. The lower revenue was mainly due to lower billings for specialised equipment and services.

Monday, July 14, 2008

FMH ...July 2008

A total logistics player, which is finalising a joint-venture company in Indonesia, also plans to expand its freight services in another South-East Asian (SEA) country by next year. The expansion was in line with the group's goal to create a strong regional base.

FMH holds a 62% stake in JV company, PT Icon Freight Indonesia, via its subsidiary, Icon Line (M) Sdn Bhd.

Prior to Indonesia, FMH established its first overseas office in Western Australia two years ago with the setting up of a joint-venture company, Icon Freight Services Pty Ltd, in which it controls 55%.

On the local front, FMH owns more than 190,000sq ft of warehousing, 20 trucks and nine prime movers for its freight operations.

FMH's freight services include full container loads and less container load services for sea, rail and air. This made up about 90% of the group's pre-tax profit.

Besides freight services, FMH is also expanding its fleet of barges and tugboat services of its 51% owned Singapore-based TCH Marine Pte Ltd.

Sunday, July 13, 2008

EngTek ... July 2008

ENG Teknologi Holdings Bhd - Malaysia's largest hard disk drive (HDD) components manufacturer by revenue and one of the biggest in Southeast Asia - could be a privatisation target by private equity funds.

A major shareholder of Engtek feels its shares are undervalued and is willing to consider any offer to take the company private. As at the end of last financial year, Engtek's NTA (net tangible assets) stood at RM1.68 times. It is higher now (July 2008) but the share prices range from RM1.20 to RM1.30.

We keep an open mind if there are offers to enhance shareholder value," said Teh, who together with Datin Low Yeow Siang directly own 25.2 per cent of Engtek. Another major shareholder of Engtek - which made a net profit of RM14.8 million on turnover of RM500.6 million in 2007 - is Permodalan Nasional Bhd with a 15 per cent stake. However, Teh said he is unaware if a buyout offer is on the table.

The company's privatisation prospect was fuelled by several such deals involving key HDD components makers listed in Singapore since 2006. They included MMI and Brilliant, which were privatised by some of the world's largest private equity firms. Unisteel is the latest player to join the bandwagon, announcing its privatisation plan last month.

Going Forward …

Engtek is an ideal privatisation target given that it was now (July 2008) trading at a nearly 22 discount to its book value of RM1.68 per share as at March 31 2008.

In addition, the company is now (July 2008) also trading at FY08 PER (price earnings ratio) of 5.3 times even though its annualised first quarter net profit came in 42 per cent above our estimates.

Saturday, July 12, 2008

Early Birds get Software problems bug Apple's launch of new iPhone


Software problems bug Apple's launch of new iPhone, Apple's bid for more of wireless market

NEW YORK (AP) -- The launch of Apple Inc.'s much-anticipated new iPhone turned into an information-technology meltdown on Friday, as customers were unable to get their phones working.

"It's such grief and aggravation," said Frederick Smalls, an insurance broker in Whitman, Mass., after spending two hours on the phone with Apple and AT&T Inc., trying to get his new iPhone to work.

In stores, people waited at counters to get the phones activated, as lines built behind them. Many of the customers had already camped out for several hours in line to become among the first with the new phone, which updates the one launched a year ago by speeding up Internet access and adding a navigation chip.

A spokesman for AT&T, the exclusive carrier for the iPhone in the U.S., said there was a global problem with Apple's iTunes servers that prevented the phones from being fully activated in-store, as had been planned.

Instead, employees are telling buyers to go home and perform the last step by connecting their phones to their own computers, spokesman Michael Coe said.

However, the iTunes servers were equally hard to reach from home, leaving the phones unusable except for emergency calls.

The problem extended to owners of the previous iPhone model. A software update released for that phone on Friday morning required the phone to be reactivated through iTunes.

"It's a mess," said freelance photographer Giovanni Cipriano, who updated his first-generation iPhone only to find it unusable.

Apple shares fell $4.05, or 2.3 percent, to close Friday at $172.58 amid a general decline in U.S. stocks.

When the first iPhone went on sale a year ago, customers performed the whole activation procedure at home, freeing store employees to focus on sales. But the new model is subsidized by carriers, and Apple and AT&T therefore planned to activate all phones in-store to get customers on a contract.

The new phone went on sale in 21 countries on Friday, creating a global burden on the iTunes servers.

The iPhone has been widely lauded for its ease of use and rich features, but Apple is a newcomer to the cell-phone business, and it's made some missteps. When it launched the first phone in the U.S. a year ago, it initially priced the phones high, at $499 and $599, then cut the price by $200 just 10 weeks later, throwing early buyers for a loop.

Rollouts to other countries were slow, as Apple tried to get carriers on board with its unusual pricing scheme, which included monthly fees to Apple. The business model of the new phone follows industry norms, and the price is lower: $199 or $299 in the U.S.

On Thursday, Apple had problems with the launch of a new data service, MobileMe. The service is designed to synchronize a users personal data across devices, including the iPhone, but many users were denied access to their accounts.

Enthusiasm was high ahead of the Friday morning launch of the new phone.

Alex Cavallo, 24, was one of hundreds lined up at the Fifth Avenue store, just as he had been a year ago for the original iPhone. He sold that one recently on eBay in anticipation of the new one. In the meantime, he has been using another phone, which felt "uncomfortable."

"The iPhone is just a superior user experience," he said. The phone also proved a decent investment for him: He bought the old model for $599 and sold it for $570.

Nick Epperson, a 24-year-old grad student, spent the night outside an AT&T store in Atlanta, keeping his cheer up with bags of Doritos, three games of Scrabble and two packs of cigarettes. Asked why he was waiting in line, he responded simply "Chicks dig the iPhone."

IPhone fever was strong even in Japan, where consumers are used to tech-heavy phones that do restaurant searches, e-mail, music downloads, reading digital novels and electronic shopping. More than 1,000 people lined up at the Softbank Corp. store in Tokyo and the phone quickly sold out.

"Just look at this obviously innovative design," Yuki Kurita, 23, said as he emerged from buying his iPhone, carrying bags of clothing and a skateboard he had used as a chair during his wait outside the Tokyo store. "I am so thrilled just thinking about how I get to touch this."

The phone went on sale first in New Zealand, where hundreds of people lined up outside stores to snap it up right at midnight -- 8 a.m. Thursday in New York.

"Steve Jobs knows what people want," Web developer Lucinda McCullough told the Christchurch Press newspaper, referring to Apple's chief executive. "And I need a new phone."

In Germany, sales were brisk at local carrier T-Mobile's stores, particularly in Munich, Hamburg and Cologne, said spokeswoman Marion Kessing.

Friday, July 11, 2008

澳門制訂1.25%仲介佣金上限‧雲頂名勝世界料更具吸引力

(吉隆坡)澳門政府制訂1.25%的賭場貴賓廳仲介傭金上限,聯昌研究相信此舉對區域賭場業者如雲頂(GENTING,3182;主板貿服組)和名勝世界(RESORTS,4715;主板貿服組)有利,可提供更吸引人傭金提升賺幅。

聯昌研究正面看待區域博彩領域的前景,亞洲賭博業的成長不受澳門新措施的影響,保持領域的“加碼”評級。

首選看好名勝世界

名勝世界成為該行的首選股項,主要是相中其抗跌賭博營運,以及估值跌深後成功築底。

聯昌相信,區域博彩大餅將追隨新加坡、菲律賓、台灣和越南合法賭場經營的開設成長。

據悉澳門開放賭牌前,業者支付介紹賭客到賭場的中介人傭金一般只有0.8%。隨著競爭白熱化,賭場不斷提高傭金來搶客,間接令賭場的經營成本上升。

賭場經營者現時,支付相當於兌換籌碼金額的1.35%至1.38%傭金,最高更達1.5%。澳門政府為了遏止賭場業者的割喉式競爭,立法規定1.25%的傭金上限,自8月生效。

聯昌表示,假設新措施成功執行將對業者的賺幅有利,區域業者可以作指標,指定吸引人或較低的傭金,改善賺幅。

不過它指出,傭金上限正式執行,可能會引起信貸擴張和非法側邊賭博(illegal padded betting)。

仲介人的信貸擴張對資產負債強勁的業者有利,如銀行娛樂集團和奧瑪仕控股(A-Max)有利,卻也導致潛在更高的壞賬。

另一方面,仲介可能採取舊非法側邊賭博機制,避開貴賓藍籌銷售的正式計算。客戶和仲介人或賭場營運業者進行遠台賭法,籌碼另計的傭金可能高過設定上限水平。

假設澳門貴賓廳的非法側邊賭博活動因新措施死灰復燃,最終可能損傷貴賓賭博營收。

此外,信貸市場收縮,業者更難籌措額外營運資本作仲介人信貸,最終可能抑制貴賓廳業務成長。高度依賴仲介的舊賭場,情況可能更嚴峻。

Thursday, July 10, 2008

CCM/Pharmaniaga .. July 2008

Sources say Khazanah Nasional Bhd is believed to be in talk to sell UEM Group Bhd’s stake in Pharmaniaga Bhd to CCM.

It is learnt that Khazanah, which owns UEM Group is in preliminary discussions with PNB, which has a 60.2% stake in CCM. The planned disposal is part of Khazanah’s move to streamline UEM Group’s operations by divesting its non-core assets. UEM Group holds 72.5% equity in Pharmaniaga.

If CCM acquires UEM’s entire 72.5% equity in Pharmaniaga, the deal will trigger a mandatory general offer for the remaining shares it does not own.

And if this were to happen, there is a possibility that PNB may want to take Pharmaniaga private. However, the deal may not be a cash deal. It could be a merger via an issue of shares.

CCM has cash reserves of RM219 million and a relatively low fearing of 0.88 times.

However, UEM Group Bhd MD and CEO said he was not aware of such negotiations at the UEM Group level. Officials from both CCM and Pharmaniaga claim they do not know of any merger or acquisition talks.

Wednesday, July 9, 2008

Looking for some Home loan information?

Following are some Home loan information comparison:-


Tuesday, July 8, 2008

IGB ... July 2008

It has started the ball rolling in the strreamlining of its non-core assets. It has disposed of its takes in Gleneagles Hospital KL.
The Tan family appears to be similarly sold on the notion that IGB is trading at depressed valuations that do not reflect the company’s true worth. The family controls IGB via public traded GOLDIS Bhd, vehicles such as Wah Seong Trading Co Sdn Bhd and Tan Chin Nam Sdn Bhd, as well as direct shareholding in the property developer.

IGB has been buying back its shares for weeks. IGB had bought back 4.64 million treasury shares at RM1.52 each, worth some rm14.2 million.

The company owns a stable of prime property assets that generate steady rents, unlike many of its peers, which are burdened by half completed projects and the added “curse” of ballooning raw material prices.

IGB owns Mid Valley Megamall via FrisAsset Holdings Bhd, an investment holding company set up to manage the mall. The comp[any also owns The Gardens Mid Valley. Cititel Mid Valley and Boulevard Mid Valley, three offices towers – Menara IGB, Centrepoint North and South – and is completing the remaining phases of its Mid Valley City development.

Nearly all of IGB’s completed office and retail developments boast between 80% and 100% occupancy, with the exception of newer buildings such as its office towers.

Its balance sheet is also healthy. It has a net operating cash flow of RM355 million, which will be further boosted by the gains from the Gleneagles stake sale. It is expected the gains to reduce the company’s net gearing to 10% in FY2008.

So with its healthy financials and asset base, what is keeping IGB’s share price down?

The market is being very cautious about property stocks in general. As for IGB, their foreign shareholding is high. Foreign funds are now selling down on Malaysian company, so IGB is naturally a casualty by default.

A big factor could be the company’s reluctance to dish out dividends to shareholders, worsened by the fact that the share price has been weakened by the overall lacklustre property market. In this kind of market, the best way for IGB to revise the share price is to return cash to shareholders. They can either carry out a capital repayment exercise or better yet, be more aggressive in distributing dividends.

IGB’s balance sheet is more than able to support investments in its ongoing projects, as well as overseas expansion. The company is also expanding its hotel business in Australia and Bangkok and recently said it is negotiations for land acquisitions and shopping malls in markets like china, India, Vietnam and the US and the UK.

IGB’s yearly hotel expansion capital expenditure, for indtance, is between Rm100 million and Rm150 million, which the company is more than able to finance.

Holding the Tan family back could be the complicated shareholding structure involving IGB and their two other property related listed entities, GoldIs and Krisassets. There is a need for a more efficient structure to minimise leakages.
Under the current structure, the Tan family holds direct interests in IGB as well as via GoldIs, in which they have a 41.44% stake, via their vehicles. GoldIs owns a 25.7% stake in IGB. The company, in turn holds 74.89% stake in KrisAssets. The Tan family directly holds about 9% stake of IGB.

This complex shareholding is not really efficient, from the perspective of the Tan family. Their direct exposure in IGB is limited to GoldIS’s interest 25%. So there is really little incentive for the major shareholder to push for a higher dividend payout.

One solution is for the Tan family could be to increase their shareholding in GoldIS to 50%, which could be affordable now with the depressed market price. It would also make sense for the company to absorb KrissAssets into IGB, as by itself KrisAssets is not as attractive as ti could be to shareholders.

Prices are low enough (July 2008) for IGB’s shareholding structure bearable costs and to court investors with generous dividends.

Monday, July 7, 2008

MPHB ... July 2008

MPHB now owns 51% of Magnum. It is also sitting on a cash pile of Rm500 million, thanks to the privatisation. Being in control of so much cash actually puts MPHB on unfamiliar ground. For years the company battled bulging debts, close to the tune of RM2 billion at one stage.
Now, with its net cash position, no body will dare cast aspersions on its strength.

The RM500 million will be used as MPHB’s working capital of which a significant amount will be pumped into its property development division.

After all, MPHB owns several land parcels in Malaysia, which were acquired at book value. This reduces significantly its holding cost.

Without high holding costs to bear, the company is in a comfortable position to undertake its property development business as it is under no pressure to realise the value of the land.

Its maiden property development project is a 2ha plot located in Jln Sultan Ismail. MPHB is in the midst of obtaining planning approval from the authorities to develop and build a commercial and service residential tower. The project will be one of two large mixed developments that MPHB plans to launch in the Klang Valley in 2009.

Upon completion, these properties (in its landbank) will be rented out which, in turn, will provide them with recurring income.

MPHB not only has stakes in Magnum, it also has a 2.24ha landbank in Malaysia, with the most valuable plots being in Gombak, Rawang and Sepang, Sel;angor. Magnum also owns Mimaland in Gombak and some plots in Sepang, held under West Country Sdn Bhd.

If MPHB opts to delay its property development projects, it has to get its earnings mainly from its gaming division, which is expected to slow down due to the present economic landscape.

Apart from the marginal reduction in MPHB’s effective shareholding in Magnum Corp, after welcoming a new partner in CVC capital Partners (Asia), which holds the remaining 49%, how will its earnings fare in the futrure?

They can still see growth in 2008, but in 2009 will be a challenge. Although MPHB has its stockbroking and insurance divisions to fall back on, they are not likely to outperform in 2009.

Meanwhile, MPHB is still searching for partners to consolidate its insurance arm to comply with Bank Negara Malaysia’s margin solvency requirement. It was reported that MPHB had a suitor but talks fell through as the prospective buyer had not obtained a consensus from its shareholders for the acquisitions.

Nonetheless, with no time frame to dictate when the company is required to consolidate its insurance business, it will take its time in seeking a good partner who will take a stake at the right price.

Friday, July 4, 2008

别被“津贴论”骗去了

让我说个农场的故事,让你知道什么是国阵说的“津贴”。

在一个农场里,每天可以生产10粒苹果。农场里有5个工人和1个场主,总共6个人。他们每天一人吃一粒苹果,就足够维持农场里的运作,所以还有剩下4粒苹果。

场主把这4粒苹果卖了,一粒RM10,结果赚了RM40。场主把这RM40拿来提升农场里的所有设施、设备,但是一天最多也需要RM25罢了。多出的RM10就拿来发给5个工人,每人有RM2,剩下RM5拿来当作自己的盈利。

日子这样下去,这个农场就变得很先进,而且工人的住宿和环境都是一流的。5个工人也存了一笔钱。

但是不久这个好场主去世了,来了个新场主。新场主说:“我们要提升农场素质,要有一流的思维。现在你们吃的苹果,需要给RM1.00。但是你想想,这是很便宜的,你去外面买苹果一粒要RM10叻!”

工人没办法,就继续做工和每天给RM1.00来吃他们以前每天吃的免费苹果,结果他们现在每天只赚得RM1.00。

现在,新场主还是把多余的4粒苹果拿去卖,赚了RM40,还是像从前一样,RM25拿来提升设施,RM10就拿来发给5个工人,RM5拿来当作自己的盈利,再来,现在那5粒苹果他卖给工人,赚了RM5.00,现在他每天得RM10.00盈利。

不久,苹果售价突然大涨了一倍,外面售价RM20一粒。现在新场主还是把多余的4粒苹果拿去卖,大赚了RM80。

农场的设施提升工程现在换了是新场主的朋友承包。新场主的朋友说,苹果售价大涨,设施提升工程的费用也要涨价了,变成RM50。其实真正费用才RM30,新场主把多出来的RM20和他的朋友平分。

现在新场主有,
RM10(和他的朋友平分的提升工程费)加
RM20的盈利(RM80-RM50-RM10=RM20)再加
RM5的卖苹果给自己员工赚的钱。
总共是RM35.00。比起以前的RM10,新场主多赚了RM25.00!!

哇!!!暴利叻,苹果售价突然大涨,农场赚多了RM25.00。但是工人还是每天只赚取RM1.00。

但是,贪心的新场主却招来5位员工,对他们说,“你们看看,苹果现在的市场售价是RM20一粒,但是你们却用RM1.00来买一粒苹果,你看你们多幸运!我就辛苦了,我需要津贴你们每人RM19.00,总共RM95.00来给你们苹果吃啊,你看农场的津贴负担多么的重!”

“农场真的很辛苦了,再这样下去,农场会破产,倒闭。现在我卖你们每粒苹果RM1.50吧,我辛苦一点来津贴RM18.50。”

那么现在新场主的暴利又增加了,RM20+RM10+RM7.50=RM37.50,又赚多了RM2.50。这RM2.50是从哪里赚来的?就是从自己工人的口袋赚来的。

现在我问你们,比起当苹果还没暴涨前和暴涨后,农场主变辛苦了还是变有钱了?之前,RM10.00;之后,RM37.50。这么简单,你不是看不明白吧?

场主说津贴很辛苦,有吗?他有从他自己口袋拿出那个他所谓的RM95的苹果津贴吗?农场有因为津贴而破产吗?他现在比起之前赚多了3.75倍!会破产吗?

所以说,别被主流媒体的“津贴论”骗去了。国阵成员说国家会破产,你相信了吗?国阵政府从以前一直以来都没有从口袋里拿出“津贴”来给我们。

说520亿汽油津贴,哪里来的?这笔钱从来都没有出现过!

现在国阵政府起油价,其实就是伸手进我们的口袋来抢我们的钱。你认命吗?你就这样站着给它伸手进你的口袋拿走你的钱吗?

P/S: pls use the language converter if you can't understand in chinese.

Wednesday, July 2, 2008

PTPTN entitle for 3K Tax deduction.

Skim Simpanan Pendidikan Nasional (SSPN) adalah merupakan satu skim atau instrumen simpanan yang direka khas oleh Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) bagi tujuan pendidikan tinggi.


Selain menjanjikan pulangan dividen tahunan, SSPN juga akan menyediakan insentif kewangan khas dalam bentuk Geran Sepadan atau Matching Grant khusus kepada pendeposit yang berpendapatan rendah.


Di samping itu, manfaat perlindungan insurans dan bayaran pampasan/khairat kematian disediakan secara percuma kepada semua pendeposit yang layak.

Ciri-Ciri & Keistimewaan:

Layak memohon pinjaman pendidikan PTPTN dengan syarat-syarat berikut:
-> Ibu bapa berpendapatan keluarga melebihi RM2,000 sebulan perlu mempunyai penabungan tidak kurang daripada RM3,000; dan

-> Ibu bapa berpendapatan keluarga tidak melebihi RM2,000 perlu mempunyai penabungan tidak kurang daripada RM500.

(penetapan syarat had simpanan telah ditangguhkan, walaubagaimanapun pemohon pinjaman diwajibkan mempunyai akaun SSPN dengan simpanan minimum RM20 sebelum layak memohon pinjaman pendidikan PTPTN)

Pelepasan cukai ke atas simpanan sehingga RM3,000 setahun;

Manfaat perlindungan insurans sehingga RM50,000 serta pampasan/khairat kematian diberi secara percuma untuk simpanan RM1,000 dan ke atas *;

Pemberian Geran Sepadan sehingga RM10,000 untuk satu keluarga yang layak **;

Simpanan serendah RM20 pada bila-bila masa dan dijamin oleh Kerajaan;

Kadar dividen yang kompetetif dan dikecualikan daripada cukai pendapatan; dan

Kemudahan menyimpan di lebih 1,400 ejen kutipan SSPN;

Kemudahan menyimpan di Maybank2u dan ATM (pemegang akaun Maybank dan telah mendaftar dengan Maybank2u)

* Perlindungan insurans dan pampasan/khairat kematian hanya layak untuk pendeposit yang berumur 18 hingga 65 tahun. Sementara penerima manfaat yang berumur 1 hingga 28 tahun hanya layak diberi pampasan/khairat kematian sahaja.

** Keluarga yang berpendapatan tidak melebihi RM2,000 sebulan layak Geran Sepadan apabila anak diterima masuk ke IPT.


More information you can refer to:-
http://www.ptptn.gov.my/web/guest/simpanan

Tuesday, July 1, 2008

HuaAn .. July 2008

Sino Hua-An’s additional capacity by Sept

KUALA LUMPUR: Sino Hua-An International Bhd, an independent producer of metallurgical coke, said the 600 tonnes new capacity added to its current 1.2 million tonnes capacity in May would come onstream fully in September.

“The additional capacity was completed in May. In June, I think we are looking at 70% of that 600 (tonnes), come July about 80%, come August 90% and full capacity in September,” said its executive chairman Tunku Naquiyuddin ibni Tuanku Ja’afar.

The increase in coal prices have raised concerns that the company’s margins would be affected this year but its executive director Cedric Choo Sia Telk said its margins were very much protected. He said coke price was trying to catch up with the current coal price.

“The challenge came in mid-November and December last year and early months (of this year) whereby there was a very sudden spike in the price of coal. There are other external factors that may affect the numbers (earnings forecast) that this year, one of which is the Beijing Olympics which is forcing certain industries within 600km radius (of the city) to close down ,” he said.

However, he said Sin Hua-An would not be affected by the ruling but instead it may need to increase its production on anticipation of a supply shortage.