Saturday, January 31, 2009
Friday, January 30, 2009
零利率政策尚未见效 美联储可能宣布三大新招
中新网1月29日电 香港文汇报援引外电的报道称,美联储上月将目标利率减至几乎零,但史无前例的低息对疲弱美国经济似乎起不到作用。美联储一直否认在金融海啸下已弹药用尽,一连两天的政策会议昨日结束,预计会将利率维持在历史低位,并可能宣布应付楼市、信贷及金融3方面危机的新措施。
去年12月,美联储将目标利率由1厘减至零和4分1厘之间,经济师普遍预期其在今年内会维持利率于此水平。分析员巴莱斯特里诺认为,美联储减息至历史新低后,在货币政策上可做的事情不多,预期美联储会透露将推行甚么额外措施,令信贷重新流动,可留意美联储用甚么字眼形容目前经济状况。
他又指,美联储主席伯南克很可能会更明确表达其“定量宽松”政策,即透过直接注资银行和买入债券,向财困机构和市场注入更多资金。另一分析员蒂豪尼称,市场焦点将是美联储会否计划短期内购买政府或企业债券。
分析认为,美联储可以考虑扩大一个为消费贷款市场解冻的计划。有关计划预计下月展开,美联储最多会以2,000亿美元购买由汽车、学生、信用卡贷款和小企贷款支撑的证券,藉以提高这些贷款的供应。美联储亦希望该计划可降低有关贷款利息,并扩大至商业按揭贷款支撑的证券。
此外,美联储亦可考虑扩大另一个本年初已展开的计划。计划下,美联储会购买由房利美及房地美等房贷机构担保的按揭级证券,涉及金额多达5,000亿美元。另一方案是买入远期国库券。
去年12月,美联储将目标利率由1厘减至零和4分1厘之间,经济师普遍预期其在今年内会维持利率于此水平。分析员巴莱斯特里诺认为,美联储减息至历史新低后,在货币政策上可做的事情不多,预期美联储会透露将推行甚么额外措施,令信贷重新流动,可留意美联储用甚么字眼形容目前经济状况。
他又指,美联储主席伯南克很可能会更明确表达其“定量宽松”政策,即透过直接注资银行和买入债券,向财困机构和市场注入更多资金。另一分析员蒂豪尼称,市场焦点将是美联储会否计划短期内购买政府或企业债券。
分析认为,美联储可以考虑扩大一个为消费贷款市场解冻的计划。有关计划预计下月展开,美联储最多会以2,000亿美元购买由汽车、学生、信用卡贷款和小企贷款支撑的证券,藉以提高这些贷款的供应。美联储亦希望该计划可降低有关贷款利息,并扩大至商业按揭贷款支撑的证券。
此外,美联储亦可考虑扩大另一个本年初已展开的计划。计划下,美联储会购买由房利美及房地美等房贷机构担保的按揭级证券,涉及金额多达5,000亿美元。另一方案是买入远期国库券。
Thursday, January 29, 2009
Gamuda ... Jan 2009
GAMUDA 1QE OCT 2008 PROFIT FALLS - BLAMES PENANG GOVT
GAMUDA recorded a 1QE Oct 2008 Profit decline as two of its key projects would be delayed for at least a year, said its Group MD - LIN YUN LING after release of 1QE Oct 2008 results on Dec 16, 2008.
1QE OCT 2008 RESULTS
GAMUDA's Net Profit for 1QE Oct 31, 2008 plunged 37.5% to RM55.0m from RM88.0m in 2007 as its property and construction divisions were hit by the current weak property market and delays in its electrified double-tracking project.
Revenue rose 27.27% to RM613.9m from RM482.4m a year earlier while EPS fell to 2.74 sen from 4.43 sen. It proposed a dividend of four sen against 12.5 sen a year earlier.
GAMUDA said its property division saw lower profits from the weak property market, while its construction division also saw lower profits, due to slower work progress in the rail project, as a result of the late handover of land from the authorities.
LIN said that the delay of the double-tracking project and slow down in the 'Yen So' land parcel sale project in Vietnam contributed to its profit decline. " .... Obviously, earnings and cash flow will be impacted ....".
VIETNAMESE PROJECTS
GAMUDA's activities in Hanoi included the construction of a sewage treatment plant, the redevelopment of Yen So Park, as well as a commercial development with an estimated sales value of RM8 bil.
" .... We have commenced construction on the sewage treatment plant and work on the park and the beautification of the lake is in full swing. We expect to complete it over the next 24 months ...." LIN said.
On the commercial development, he said that work on the first of five phases of the 500-acre project would begin in the next six months, starting with projects that GAMUDA would develop itself.
The Company's projects included the development of a waterfront retail area and an office tower block. Phase 1, when completed, was expected to be worth about USD200m.
GAMUDA's plan, according to LIN, was to bring in foreign investors to co-develop the other land parcels for, among others, a retail mall, hotels and office buildings.
DELAYS DUE TO LACK OF INVESTORS
The delays faced by GAMUDA, he added, were caused by difficulties in securing investors for these other parcels as the economic crisis had tightened the flow of credit.
" .... We're quite pleased with the level of interest shown, but we expect the financial crisis to have an impact on pricing and on whether investors could arrange financing for their investments .... It will not surprise us if there is a one-year delay in terms of tying up these large investment parcels .... So far, we have gone through due diligence with one investor but they came back and told us there was difficulty arranging loans because banks are not lending these days ....". LIN said that the investors were not from Malaysia.
ELECTRIFIED DOUBLE-TRACKING PROJECT
As for GAMUDA's electrified double-tracking rail project, which is being done as a JV with MMC CORPORATION, LIN said he expected a delay of about a year as there were problems securing land from the Penang Government.
" .... So far work progress has been satisfactory .... Our only concern now is land acquisition. The project runs through the four northern states of Perlis, Kedah, Penang and Perak .... The land acquisition is progressing well in Perak, Kedah and Perlis but there are substantial delays in Penang, partly because of the huge number of squatters between the railway right of reserve ....".
The project started in Jan 2008 and the Government was supposed to deliver the land nine months after the start of the contract, but was now expected to take another year, LIN said.
" .... The work progress achieved to date is about 18%, with 83% of the contract works and services (including electrification system works) awarded to various bumiputera and non-bumiputera sub-contractors and suppliers.
" .... Under the terms of the contract signed by the project company and the Government of Malaysia, 95% of the total land should be handed over by now but so far, only 61% has been handed over.
" .... The project faces potential delay as a result of the delay in land acquisition especially in Penang. Up to now, the delay in project completion due to the delay in land acquisition is estimated at one year ...." said the statement.
On reports that the price of the project may be reduced to RM10 bil, LIN said that the Government has committed itself to the original RM12.5 bil price tag.
RAIL PROJECT FUNDING
LIN also disclosed that the Government had changed the structure of the project's funding. " .... The Government has also made a decision that part of the funding on the project would be on a deferred payment basis, meaning the Government could have entities such as EPF and BANK PEMBANGUNAN finance the project on the back of a Government undertaking to pay them later ....".
THAI PROJECT
On its 'Nam Theun 1' project in Thailand, GAMUDA said the project company was still in negotiations with the Electricity Generating Authority of Thailand (EGAT) for a new tariff agreement, which would take into account the increase in construction costs due to the delay in project implementation by the client.
The statement said that the protracted negotiation with EGAT was expected to be delayed until the political impasse in Thailand was over, adding the project company expected the negotiation to be finalised by the end of the financial year.
NO DIVIDEND POLICY
In response to analyst concerns over dividend payouts, LIN said the Company had no such policy.
" .... The outlook for the coming quarters is expected to be challenging. Nevertheless, due to the Group's existing Order Book, the earnings for the rest of the current financial year should remain stable and satisfactory ....".
GAMUDA SLAMMED BY PENANG GOVT
Meanwhile the Penang Government took a swipe at GAMUDA for alleging the state's inability to relocate squatters as the major reason for the substantial delay to the RM12.5 bil double-tracking project which should be completed by Jan 2013.
Penang Chief Minister - LIM GUAN ENG - slammed the construction giant for the lame excuse that the state government was slow to relocate the squatters in the area of which some 63km of the total 329km-track would run through.
LIM said the 63km of track in Penang encompassed 833 acres of private land and 69 acres of state-owned land which together houses 489 residential homes, 48 commercial properties, 18 Chinese temples, 19 Indian temples and two suraus.
" .... We do not have problems with those involving state land. The problem is GAMUDA is not paying adequate compensation to relocate and resettle residents who are on private land .... " said LIM at a press conference at the Parliament lobby.
LIM added that the construction giant could either pay an earnest sum to the squatters and apply for the land acquisition through the court process or engage the state government to assist in the relocation with adequate compensation to the squatters.
" .... The question of delay does not lie in the state government. I would like to advise GAMUDA to think very carefully before they make any allegations ...." LIM pointed out.
GAMUDA recorded a 1QE Oct 2008 Profit decline as two of its key projects would be delayed for at least a year, said its Group MD - LIN YUN LING after release of 1QE Oct 2008 results on Dec 16, 2008.
1QE OCT 2008 RESULTS
GAMUDA's Net Profit for 1QE Oct 31, 2008 plunged 37.5% to RM55.0m from RM88.0m in 2007 as its property and construction divisions were hit by the current weak property market and delays in its electrified double-tracking project.
Revenue rose 27.27% to RM613.9m from RM482.4m a year earlier while EPS fell to 2.74 sen from 4.43 sen. It proposed a dividend of four sen against 12.5 sen a year earlier.
GAMUDA said its property division saw lower profits from the weak property market, while its construction division also saw lower profits, due to slower work progress in the rail project, as a result of the late handover of land from the authorities.
LIN said that the delay of the double-tracking project and slow down in the 'Yen So' land parcel sale project in Vietnam contributed to its profit decline. " .... Obviously, earnings and cash flow will be impacted ....".
VIETNAMESE PROJECTS
GAMUDA's activities in Hanoi included the construction of a sewage treatment plant, the redevelopment of Yen So Park, as well as a commercial development with an estimated sales value of RM8 bil.
" .... We have commenced construction on the sewage treatment plant and work on the park and the beautification of the lake is in full swing. We expect to complete it over the next 24 months ...." LIN said.
On the commercial development, he said that work on the first of five phases of the 500-acre project would begin in the next six months, starting with projects that GAMUDA would develop itself.
The Company's projects included the development of a waterfront retail area and an office tower block. Phase 1, when completed, was expected to be worth about USD200m.
GAMUDA's plan, according to LIN, was to bring in foreign investors to co-develop the other land parcels for, among others, a retail mall, hotels and office buildings.
DELAYS DUE TO LACK OF INVESTORS
The delays faced by GAMUDA, he added, were caused by difficulties in securing investors for these other parcels as the economic crisis had tightened the flow of credit.
" .... We're quite pleased with the level of interest shown, but we expect the financial crisis to have an impact on pricing and on whether investors could arrange financing for their investments .... It will not surprise us if there is a one-year delay in terms of tying up these large investment parcels .... So far, we have gone through due diligence with one investor but they came back and told us there was difficulty arranging loans because banks are not lending these days ....". LIN said that the investors were not from Malaysia.
ELECTRIFIED DOUBLE-TRACKING PROJECT
As for GAMUDA's electrified double-tracking rail project, which is being done as a JV with MMC CORPORATION, LIN said he expected a delay of about a year as there were problems securing land from the Penang Government.
" .... So far work progress has been satisfactory .... Our only concern now is land acquisition. The project runs through the four northern states of Perlis, Kedah, Penang and Perak .... The land acquisition is progressing well in Perak, Kedah and Perlis but there are substantial delays in Penang, partly because of the huge number of squatters between the railway right of reserve ....".
The project started in Jan 2008 and the Government was supposed to deliver the land nine months after the start of the contract, but was now expected to take another year, LIN said.
" .... The work progress achieved to date is about 18%, with 83% of the contract works and services (including electrification system works) awarded to various bumiputera and non-bumiputera sub-contractors and suppliers.
" .... Under the terms of the contract signed by the project company and the Government of Malaysia, 95% of the total land should be handed over by now but so far, only 61% has been handed over.
" .... The project faces potential delay as a result of the delay in land acquisition especially in Penang. Up to now, the delay in project completion due to the delay in land acquisition is estimated at one year ...." said the statement.
On reports that the price of the project may be reduced to RM10 bil, LIN said that the Government has committed itself to the original RM12.5 bil price tag.
RAIL PROJECT FUNDING
LIN also disclosed that the Government had changed the structure of the project's funding. " .... The Government has also made a decision that part of the funding on the project would be on a deferred payment basis, meaning the Government could have entities such as EPF and BANK PEMBANGUNAN finance the project on the back of a Government undertaking to pay them later ....".
THAI PROJECT
On its 'Nam Theun 1' project in Thailand, GAMUDA said the project company was still in negotiations with the Electricity Generating Authority of Thailand (EGAT) for a new tariff agreement, which would take into account the increase in construction costs due to the delay in project implementation by the client.
The statement said that the protracted negotiation with EGAT was expected to be delayed until the political impasse in Thailand was over, adding the project company expected the negotiation to be finalised by the end of the financial year.
NO DIVIDEND POLICY
In response to analyst concerns over dividend payouts, LIN said the Company had no such policy.
" .... The outlook for the coming quarters is expected to be challenging. Nevertheless, due to the Group's existing Order Book, the earnings for the rest of the current financial year should remain stable and satisfactory ....".
GAMUDA SLAMMED BY PENANG GOVT
Meanwhile the Penang Government took a swipe at GAMUDA for alleging the state's inability to relocate squatters as the major reason for the substantial delay to the RM12.5 bil double-tracking project which should be completed by Jan 2013.
Penang Chief Minister - LIM GUAN ENG - slammed the construction giant for the lame excuse that the state government was slow to relocate the squatters in the area of which some 63km of the total 329km-track would run through.
LIM said the 63km of track in Penang encompassed 833 acres of private land and 69 acres of state-owned land which together houses 489 residential homes, 48 commercial properties, 18 Chinese temples, 19 Indian temples and two suraus.
" .... We do not have problems with those involving state land. The problem is GAMUDA is not paying adequate compensation to relocate and resettle residents who are on private land .... " said LIM at a press conference at the Parliament lobby.
LIM added that the construction giant could either pay an earnest sum to the squatters and apply for the land acquisition through the court process or engage the state government to assist in the relocation with adequate compensation to the squatters.
" .... The question of delay does not lie in the state government. I would like to advise GAMUDA to think very carefully before they make any allegations ...." LIM pointed out.
Monday, January 26, 2009
Sunday, January 25, 2009
Saturday, January 24, 2009
Friday, January 23, 2009
Tenaga ... Jan 2009
The much-expected reduction in power tariffs will likely take place by mid-February 2009 following a reduction in the price for natural gas supplied by Petrolaim Nasional Bhd (Petronas) to the power sector.
Source say the Economic Planning Unit (EPU) is expected to come up with a recommended revised gas price “in a matter of days”.
Manufacturers are facing problems paying their electricity bills. Also, the measure is needed to stimulate the economy and it needs to take effect as soon as possible.
Electricity tariff rates depend largely on the subsidised gas cost that is pegged at RM14.30 per mmbtu (million British thermal units) against a market rate of RM20-RM25/mmbtu. As it stands, gas is the biggest fuel component and accounts for some 60% of the country’s power generation fuel mix.
It is believed that Energy, Water and Communications Minister Datuk Shaziman Abu Mansor met with Tan Sri Amirsham Aziz, Minister in the Prime Minister’s Department in charge of EPU and the latter was agreeable that the price of gas sold to the power sector would need to be cut.
Prior to June 2008, gas was sold at RM6.40/mmbtu. The upward revision in gas price in June 2008 (to RM14.31/mmbtu) on the back of soaring crude prices led to about a 24% increase in power tariffs, which is scheduled for review in June again 2009. The Cabinet had agreed (Jan 2009) to the ministry’s proposal for an earlier review of the gas price.
International Trade and Industry Minister Tan Sri Muhyiddin Yassin had alsocalled for electricity tariffs to be brought down in view of lower global fuel prices.
Most concurred that a downward revision in tariffs, following a reduction in the price of natural gas Petronas charged Tenaga Nasional Bhd (TNB), would have a neutral effect on TNB’s earnings.
If the “gas price comes down, then it’s okay for tariffs to come down as well.”
“But, how much lower can the gas price go? It must be appreciated that Petronas needs to recover its operating cost, otherwise, it may not want to further invest in the development of gas supply. At current (Jan 2009) gas rates, Petronas is already providing a subsidy”
The issue is that there are several components to its cost. Gas price can be reduced and coal prices can also come down. But the bigger issue is also the IPP (independent power producer) rates.
Source say the Economic Planning Unit (EPU) is expected to come up with a recommended revised gas price “in a matter of days”.
Manufacturers are facing problems paying their electricity bills. Also, the measure is needed to stimulate the economy and it needs to take effect as soon as possible.
Electricity tariff rates depend largely on the subsidised gas cost that is pegged at RM14.30 per mmbtu (million British thermal units) against a market rate of RM20-RM25/mmbtu. As it stands, gas is the biggest fuel component and accounts for some 60% of the country’s power generation fuel mix.
It is believed that Energy, Water and Communications Minister Datuk Shaziman Abu Mansor met with Tan Sri Amirsham Aziz, Minister in the Prime Minister’s Department in charge of EPU and the latter was agreeable that the price of gas sold to the power sector would need to be cut.
Prior to June 2008, gas was sold at RM6.40/mmbtu. The upward revision in gas price in June 2008 (to RM14.31/mmbtu) on the back of soaring crude prices led to about a 24% increase in power tariffs, which is scheduled for review in June again 2009. The Cabinet had agreed (Jan 2009) to the ministry’s proposal for an earlier review of the gas price.
International Trade and Industry Minister Tan Sri Muhyiddin Yassin had alsocalled for electricity tariffs to be brought down in view of lower global fuel prices.
Most concurred that a downward revision in tariffs, following a reduction in the price of natural gas Petronas charged Tenaga Nasional Bhd (TNB), would have a neutral effect on TNB’s earnings.
If the “gas price comes down, then it’s okay for tariffs to come down as well.”
“But, how much lower can the gas price go? It must be appreciated that Petronas needs to recover its operating cost, otherwise, it may not want to further invest in the development of gas supply. At current (Jan 2009) gas rates, Petronas is already providing a subsidy”
The issue is that there are several components to its cost. Gas price can be reduced and coal prices can also come down. But the bigger issue is also the IPP (independent power producer) rates.
Thursday, January 22, 2009
UEM Land ... Jan 2009
The Shimizu Corp-led consortium has upped the ante in its bid to secure the tunnelling portion of the RM5 billion Pahang-Selangor Interstate Water Transfer project, for which it has submitted the lowest bid.
Sources say Shimizu and its partners UEM Builder Bhd, IJM Corp Bhd and Nishimatsu Construction Co are prepared to drop a controversial conditional variation order (VO) clause in their tender proposal to clear any doubts on their costing.
It is learnt that the consortium is waiting for the Malaysian government to call in the shortlisted companies to clarify their respective tender proposals.
The Shimizu consortium is expected to drop the VO in the tender clarification process. They are prepared to do that.
Shimizu dropping the VO clause would likely speed up the decision- making for the water project, one of the large construction jobs identified to stimulate the economy. Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak, who is bent on seeing the big project get off the ground soon, is expected to decide on the award in the next few weeks (Jan –Feb 2009).
It is learnt that the VO clause was put in to safeguard the consortium against any inaccuracies in the consultant’s study, particularly on the hardness of the rock. The tunnelling job will involve boring through a 44.5km stretch of the Titiwangsa mountain range.
The cost is somewhat based on the hardness of the rock. If the consultant’s study on the hardness of the rock is accurate, there will not be a VO. However, if the study is inaccurate and the rock is harder than stated in the report, then a VO will occur not only for Shimizu but any other consortium that undertakes the job.
The Shimizu-led consortium is locked in a close fight with a partnership between Taisei Corp and Malaysia’s HRA Teguh Sdn Bhd for the tunnelling job estimated at RM3 billion. A third proposal is from Kajima Corp that has gone in alone without a Malaysian partner.
Sources say Shimizu’s bid is RM150 million less than Taisei’s proposal. However, in the tender proposal, Shimizu has a conditional VO clause which has caused differences in opinion between the Ministry of Water, Communications and Energy and the Japan Bank for International Cooperation (JBIC) in awarding the job.
It is said that the ministry favoured the team of Taiseh and HRA Teguh because there is no VO in its proposal while JBIC was rooting for the Shimizu-led team because its bid was the lowest.
JBIC is in the picture as it is providing a loan of RM2.5 billion for the project. The loan is part of its Official Development Assistance programme under the New Miyazawa Initiative to assist developing countries.
It is learnt that if the VO is dropped, it could propel the Shimizu-led consortium to be the frontrunner to bag the large-scale, high-profile tunnelling contract.
The interstate water transfer project is part of a mega plan to resolve the shortage of water in Selangor. Other options such as the transfer of ground water from Perak were also mooted but the plans somehow never took off.
Sources say Shimizu and its partners UEM Builder Bhd, IJM Corp Bhd and Nishimatsu Construction Co are prepared to drop a controversial conditional variation order (VO) clause in their tender proposal to clear any doubts on their costing.
It is learnt that the consortium is waiting for the Malaysian government to call in the shortlisted companies to clarify their respective tender proposals.
The Shimizu consortium is expected to drop the VO in the tender clarification process. They are prepared to do that.
Shimizu dropping the VO clause would likely speed up the decision- making for the water project, one of the large construction jobs identified to stimulate the economy. Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak, who is bent on seeing the big project get off the ground soon, is expected to decide on the award in the next few weeks (Jan –Feb 2009).
It is learnt that the VO clause was put in to safeguard the consortium against any inaccuracies in the consultant’s study, particularly on the hardness of the rock. The tunnelling job will involve boring through a 44.5km stretch of the Titiwangsa mountain range.
The cost is somewhat based on the hardness of the rock. If the consultant’s study on the hardness of the rock is accurate, there will not be a VO. However, if the study is inaccurate and the rock is harder than stated in the report, then a VO will occur not only for Shimizu but any other consortium that undertakes the job.
The Shimizu-led consortium is locked in a close fight with a partnership between Taisei Corp and Malaysia’s HRA Teguh Sdn Bhd for the tunnelling job estimated at RM3 billion. A third proposal is from Kajima Corp that has gone in alone without a Malaysian partner.
Sources say Shimizu’s bid is RM150 million less than Taisei’s proposal. However, in the tender proposal, Shimizu has a conditional VO clause which has caused differences in opinion between the Ministry of Water, Communications and Energy and the Japan Bank for International Cooperation (JBIC) in awarding the job.
It is said that the ministry favoured the team of Taiseh and HRA Teguh because there is no VO in its proposal while JBIC was rooting for the Shimizu-led team because its bid was the lowest.
JBIC is in the picture as it is providing a loan of RM2.5 billion for the project. The loan is part of its Official Development Assistance programme under the New Miyazawa Initiative to assist developing countries.
It is learnt that if the VO is dropped, it could propel the Shimizu-led consortium to be the frontrunner to bag the large-scale, high-profile tunnelling contract.
The interstate water transfer project is part of a mega plan to resolve the shortage of water in Selangor. Other options such as the transfer of ground water from Perak were also mooted but the plans somehow never took off.
Wednesday, January 21, 2009
LHH ... Jan 2009
It is venturing into oil palm cultivation via the proposed acquisition of a 35% stake in a plantation company, Alam Muhibah Sdn Bhd (AMSB), for RM33.9 million cash.
It signed a conditional agreement with the vendors — CW Lau & Sons Sdn Bhd, Datuk Lau Bong Wong, Lau Joo Han, CN Lau & Sons Sdn Bhd, LCN & Family Sdn Bhd, Datuk Lau Eng Guang, Lau Joo Yong, HN Lau & Sons Sdn Bhd and LTN Resources Sdn Bhd — for the acquisition of the stake comprising 1.23 million shares in AMSB.
It also signed an irrevocable call option agreement with the vendors to acquire another 744,813 AMSB shares, representing about 21.25% of the enlarged share capital of AMSB, thereby potentially raising its stake to 56.25% that would enable it to consolidate the earnings of, and exert further control over AMSB.
Leong Hup said the proposed acquisition formed part of its plan to diversify its earnings base to reduce dependency on its existing core business of poultry farming.
It signed a conditional agreement with the vendors — CW Lau & Sons Sdn Bhd, Datuk Lau Bong Wong, Lau Joo Han, CN Lau & Sons Sdn Bhd, LCN & Family Sdn Bhd, Datuk Lau Eng Guang, Lau Joo Yong, HN Lau & Sons Sdn Bhd and LTN Resources Sdn Bhd — for the acquisition of the stake comprising 1.23 million shares in AMSB.
It also signed an irrevocable call option agreement with the vendors to acquire another 744,813 AMSB shares, representing about 21.25% of the enlarged share capital of AMSB, thereby potentially raising its stake to 56.25% that would enable it to consolidate the earnings of, and exert further control over AMSB.
Leong Hup said the proposed acquisition formed part of its plan to diversify its earnings base to reduce dependency on its existing core business of poultry farming.
Tuesday, January 20, 2009
VS Industry Bhd ... Jan 2009
VS Industry Bhd hopes to manufacture parts and components for several European multinational corporations (MNCs).
The company was currently negotiating with the MNCs and expected to close a deal with one of them in the current financial year ending July 31 (FY09). The particular MNC was currently sourcing its parts and components from other countries. It exports its product worldwide and is willing to have a long-term business relationship with VS Industry.
The product, which was still categorised under the household segment, was totally different from the other existing products.
VS is the only Malaysian-based EMS (electronics manufacturing services) provider to make it to the Top 50 list in US-based research newsletter Market Manufacturer Insider in 2007.
For FY08, VS Industry recorded pre-tax profit of RM80.36mil on revenue of RM1.06bil compared with RM89.16mil and RM1.07bil respectively in FY07.
The company was currently negotiating with the MNCs and expected to close a deal with one of them in the current financial year ending July 31 (FY09). The particular MNC was currently sourcing its parts and components from other countries. It exports its product worldwide and is willing to have a long-term business relationship with VS Industry.
The product, which was still categorised under the household segment, was totally different from the other existing products.
VS is the only Malaysian-based EMS (electronics manufacturing services) provider to make it to the Top 50 list in US-based research newsletter Market Manufacturer Insider in 2007.
For FY08, VS Industry recorded pre-tax profit of RM80.36mil on revenue of RM1.06bil compared with RM89.16mil and RM1.07bil respectively in FY07.
Monday, January 19, 2009
Sanichi Technology Bhd ... Jan 2009
Sanichi Technology Bhd, a plastic injection moulds and tool maker, expects orders from customers in the electrical and electronics (E&E) industry for its financial year ending June 30, 2009 (FY09) to remain stable at the level of a year earlier despite the economic downturn.
The Johor-based Mesdaq company said in its FY08 annual report that it might see more orders from customers in the automotive industry.
Sanichi’s net loss narrowed to RM618,000 in its first quarter ended Sept 30, 2008 (1QFY09) from RM1.61 million in the preceding quarter, mainly due to improved performance from its subsidiary company in Thailand. When compared to the same quarter a year earlier, Sanichi’s revenue for 1QFY09 rose 9.4% to RM6.83 million from RM6.24 million.
The improved performance was also attributed to lower foreign exchange losses from foreign currency-denominated sales and increased contribution from sales of large moulds and tooling to the automotive sector.
Sanichi had moved into fabricating larger moulds to cater for large components not only for the E&E industry but also the automotive industry, which was expected to help the group leverage the risk of over reliance on a particular industry.
The Johor-based Mesdaq company said in its FY08 annual report that it might see more orders from customers in the automotive industry.
Sanichi’s net loss narrowed to RM618,000 in its first quarter ended Sept 30, 2008 (1QFY09) from RM1.61 million in the preceding quarter, mainly due to improved performance from its subsidiary company in Thailand. When compared to the same quarter a year earlier, Sanichi’s revenue for 1QFY09 rose 9.4% to RM6.83 million from RM6.24 million.
The improved performance was also attributed to lower foreign exchange losses from foreign currency-denominated sales and increased contribution from sales of large moulds and tooling to the automotive sector.
Sanichi had moved into fabricating larger moulds to cater for large components not only for the E&E industry but also the automotive industry, which was expected to help the group leverage the risk of over reliance on a particular industry.
Sunday, January 18, 2009
Is your H/phone safe to use?
Would you like to know if your mobile is original or not ?????
Press the following on your mobile *#06# and the-international mobile equipment identity number appears. Then check the 7th and 8th numbers:
IF the Seventh & Eighth digits are 02 or 20 this means your cell phone was assembled in China which is low quality
IF the Seventh & Eighth digits are 08 or 80 this means your cell phone was manufactured in Germany which is fair quality
IF the Seventh & Eighth digits are 01 or 10 this means your cell phone was manufactured in Finland which is very Good
IF the Seventh & Eighth digits are 00 this means your cell phone was manufactured in original factory which is the best Mobile Quality
IF the Seventh & Eighth digits are 13 this means your cell phone was assembled in Azerbaijan which is very Bad quality and also dangerous for your health
Press the following on your mobile *#06# and the-international mobile equipment identity number appears. Then check the 7th and 8th numbers:
IF the Seventh & Eighth digits are 02 or 20 this means your cell phone was assembled in China which is low quality
IF the Seventh & Eighth digits are 08 or 80 this means your cell phone was manufactured in Germany which is fair quality
IF the Seventh & Eighth digits are 01 or 10 this means your cell phone was manufactured in Finland which is very Good
IF the Seventh & Eighth digits are 00 this means your cell phone was manufactured in original factory which is the best Mobile Quality
IF the Seventh & Eighth digits are 13 this means your cell phone was assembled in Azerbaijan which is very Bad quality and also dangerous for your health
Saturday, January 17, 2009
Good financial planner.
Dan was a single guy living at home with his father and working in the
family business.
When he found out he was going to inherit a fortune when his sickly
father died, he decided he needed a wife with which to share his
fortune.
One evening at an investment meeting he spotted the most beautiful
woman he had ever seen.
Her natural beauty took his breath away. "I may look like just an
ordinary man," he said to her, but in just a few years, my father will
die, and I'll inherit $20 million."
Impressed, the woman obtained his business card and three days later,
she became his stepmother.
Women are so much better at financial planning than men.
family business.
When he found out he was going to inherit a fortune when his sickly
father died, he decided he needed a wife with which to share his
fortune.
One evening at an investment meeting he spotted the most beautiful
woman he had ever seen.
Her natural beauty took his breath away. "I may look like just an
ordinary man," he said to her, but in just a few years, my father will
die, and I'll inherit $20 million."
Impressed, the woman obtained his business card and three days later,
she became his stepmother.
Women are so much better at financial planning than men.
Friday, January 16, 2009
Genting Intl Plc ... Jan 2009
Genting International plc (GIL), a subsidiary of Genting Bhd, has forked out S$2 billion (RM4.75 billion), which is the total equity portion, in the funding of the S$6 billion Resorts World at Sentosa (RWS) project in Singapore. The remaining sum for the project would be drawn down from a syndicated loan which was secured in April last year.
So far GIL has spent S$3 billion on the project, which means there is already a drawdown of some S$1 billion from the syndicated loan.
The 49ha RWS development is funded one-third by equity and two-thirds by borrowings. With the S$2 billion already spent in the project, the Genting group had essentially fully committed the portion of funding using its own equity. It poured in their own money first to reflect its confidence in the project.
GIL managed to raise S$2.17 billion in September 2007 from a rights issue that was the largest equity fund raising exercise in Singapore during the year (2008). The money raised is principally for the development of RWS.
The group was on track to obtain the casino licence, as it had committed half of the project’s total investment. Under the Singapore government’s request, Genting can apply for the casino licence only when at least half of the committed investment had been expended, at least half of the proposed development area had been completed, and at least half of the proposed gross floor area had been completed.
The group is also required to expend 100% of its committed development investment three years after the casino licence has been issued. The maximum floor area of the casino allowed by the Singapore government is 15,000 square metres (sq m), which is more than Genting Highland’s casino floor area of some 9,300 sq m, while the maximum number of gaming machines allowed is 2,500.
Genting has targeted to open the east and central zones of RWS, including Universal Studios Singapore, four hotels, a casino and the dining and retail outlets, by 1Q2010. The west zone of RWS, including a marine life park and spa village, would be opened “progressively”.
So far GIL has spent S$3 billion on the project, which means there is already a drawdown of some S$1 billion from the syndicated loan.
The 49ha RWS development is funded one-third by equity and two-thirds by borrowings. With the S$2 billion already spent in the project, the Genting group had essentially fully committed the portion of funding using its own equity. It poured in their own money first to reflect its confidence in the project.
GIL managed to raise S$2.17 billion in September 2007 from a rights issue that was the largest equity fund raising exercise in Singapore during the year (2008). The money raised is principally for the development of RWS.
The group was on track to obtain the casino licence, as it had committed half of the project’s total investment. Under the Singapore government’s request, Genting can apply for the casino licence only when at least half of the committed investment had been expended, at least half of the proposed development area had been completed, and at least half of the proposed gross floor area had been completed.
The group is also required to expend 100% of its committed development investment three years after the casino licence has been issued. The maximum floor area of the casino allowed by the Singapore government is 15,000 square metres (sq m), which is more than Genting Highland’s casino floor area of some 9,300 sq m, while the maximum number of gaming machines allowed is 2,500.
Genting has targeted to open the east and central zones of RWS, including Universal Studios Singapore, four hotels, a casino and the dining and retail outlets, by 1Q2010. The west zone of RWS, including a marine life park and spa village, would be opened “progressively”.
Thursday, January 15, 2009
Sino Hua-An Int Bhd ... Jan 2009
Metallurgical coke producer Sino Hua-An International Bhd (Sino Hua-An) plans to bring in foreign institutional investors to boost the level of its foreign shareholdings.
The company has approached private equity and asset management arms in investment banks from the Western and Asean regions. The investors want to (be sure) where the business and industry (are headed) before proceeding with the acquisition.
Substantial Shareholders …
· Tunku Naquiyuddin Ibni Tuanku Jaafar: 28.2%
· Liu GuoDong: 15.9%
· Rise business Inc (Company owned by Zhu Qing Hua): 9.1%
The deal will to take up a block of their shares from the market but not through its major shareholders. None of the major shareholders are keen to sell their shares.
Foreign spread in Sino Hua-An have dropped to 8% from 20% previously, causing the share price to fall. It is unlikely for investors to come in now (Jan 2009) due to the uncertain market conditions. Nevertheless, the company will continue to try and entice them.
Sino Hua-An International Bhd’s plant in China
Going Forward …
The company has also put its acquisition and secondary listing plans on hold due to a slump in China’s steel market and the weaker market sentiment.
Sino Hua-An deferred its proposed acquisition of a 49% equity stake in Linyi Jiangxin Steel Co steel plant in Shandong Province in August 2008, worth an estimated RM500mil, as well as plans for a secondary listing, either Hong Kong or Singapore.
Sino Hua-An will concentrate on improving its existing core business for now (Jan 2009).
The company will observe the performance of the local steel industry before making any decisions on the possibility of setting up a plant in Malaysia
The coke that the company produces is one of the key raw materials in steel manufacturing, hence its sales are linked to the steel industry.
On Sino Hua-An’s financial performance, 2009 is expected to be better than last year. But all depends on the performance of the steel industry and China’s rollout of construction projects under their economic stimulus plan worth US$586bil.
It will like to maintain our 30% dividend payout policy but they have to balance it with our cashflow requirement and working capital. Sino Hua-An’s net cash position as at September was about RM65mil with zero gearing.
Demand for its products is expected to improve in the first quarter as global stockpiles diminish. Sino Hua-An’s coke products are consumed in China only and the unprecedented slowdown in the steel industry in the last six months has resulted in excess supplies.
The company has approached private equity and asset management arms in investment banks from the Western and Asean regions. The investors want to (be sure) where the business and industry (are headed) before proceeding with the acquisition.
Substantial Shareholders …
· Tunku Naquiyuddin Ibni Tuanku Jaafar: 28.2%
· Liu GuoDong: 15.9%
· Rise business Inc (Company owned by Zhu Qing Hua): 9.1%
The deal will to take up a block of their shares from the market but not through its major shareholders. None of the major shareholders are keen to sell their shares.
Foreign spread in Sino Hua-An have dropped to 8% from 20% previously, causing the share price to fall. It is unlikely for investors to come in now (Jan 2009) due to the uncertain market conditions. Nevertheless, the company will continue to try and entice them.
Sino Hua-An International Bhd’s plant in China
Going Forward …
The company has also put its acquisition and secondary listing plans on hold due to a slump in China’s steel market and the weaker market sentiment.
Sino Hua-An deferred its proposed acquisition of a 49% equity stake in Linyi Jiangxin Steel Co steel plant in Shandong Province in August 2008, worth an estimated RM500mil, as well as plans for a secondary listing, either Hong Kong or Singapore.
Sino Hua-An will concentrate on improving its existing core business for now (Jan 2009).
The company will observe the performance of the local steel industry before making any decisions on the possibility of setting up a plant in Malaysia
The coke that the company produces is one of the key raw materials in steel manufacturing, hence its sales are linked to the steel industry.
On Sino Hua-An’s financial performance, 2009 is expected to be better than last year. But all depends on the performance of the steel industry and China’s rollout of construction projects under their economic stimulus plan worth US$586bil.
It will like to maintain our 30% dividend payout policy but they have to balance it with our cashflow requirement and working capital. Sino Hua-An’s net cash position as at September was about RM65mil with zero gearing.
Demand for its products is expected to improve in the first quarter as global stockpiles diminish. Sino Hua-An’s coke products are consumed in China only and the unprecedented slowdown in the steel industry in the last six months has resulted in excess supplies.
Wednesday, January 14, 2009
Suiwah Corp Bhd ... Jan 2009
Retail concern Suiwah Corp Bhd has terminated its agreement with Valdel Oil and Gas Private Ltd and Valdel Investments Private Ltd to form a consortium for the purpose of undertaking oil and gas exploration and production projects in India.
Suiwah had proposed to hold a 15% stake in the venture, which was subject to the successful bidding by the consortium. “Based on the notification from Valdel Oil on Jan 2, the intended bidding for exploring was not successful.
It incurred a total expense of RM23,949.15 as a result of the bidding. Better known for its retail business, most notably its Sunshine hypermarkets, the consortium was to mark the group’s maiden foray into oil and gas.
Suiwah had proposed to hold a 15% stake in the venture, which was subject to the successful bidding by the consortium. “Based on the notification from Valdel Oil on Jan 2, the intended bidding for exploring was not successful.
It incurred a total expense of RM23,949.15 as a result of the bidding. Better known for its retail business, most notably its Sunshine hypermarkets, the consortium was to mark the group’s maiden foray into oil and gas.
Tuesday, January 13, 2009
MEMS .. Jan 2009
MEMS, a microelectronics manufacturer, remains positive with the company's business outlook for the year, despite the current economic crisis.
It expects the introduction of its silicon microphone products for cellular phones to push the microphone business revenue's contribution to 60-70 per cent this year (2009), from 30-40 per cent now (Jan 2009).
Currently, there is a migration of the traditional electro-component microphones (ECM) to silicon microphones by cellular phone makers due to lower manufacturing cost and time, better performance as well as their smaller size.
So, even if the growth of the mobile phone market is slow, due to this conversion from ECM to silicon microphones, they are able to continue to get orders. There are currently 1.4 billion mobile phones produced in the world. To date (Jan 2009), three major world's mobile phone manufacturers have qualified Memstech's silicon microphones and placed orders for its products.
They have started shipping the silicon microphones to these manufacturers since a year ago (2008)
The group generated revenue of RM71.9 million for the financial year ended July 31 2008, up 33.8 per cent from a year ago. However, its pre-tax profit decreased to RM6.9 million from RM13.1 million, mainly attributed by the commencement of the Penang plant's operations and capital expenditure incurred in its effort to increase the capacity of its silicon microphones.
It expects the introduction of its silicon microphone products for cellular phones to push the microphone business revenue's contribution to 60-70 per cent this year (2009), from 30-40 per cent now (Jan 2009).
Currently, there is a migration of the traditional electro-component microphones (ECM) to silicon microphones by cellular phone makers due to lower manufacturing cost and time, better performance as well as their smaller size.
So, even if the growth of the mobile phone market is slow, due to this conversion from ECM to silicon microphones, they are able to continue to get orders. There are currently 1.4 billion mobile phones produced in the world. To date (Jan 2009), three major world's mobile phone manufacturers have qualified Memstech's silicon microphones and placed orders for its products.
They have started shipping the silicon microphones to these manufacturers since a year ago (2008)
The group generated revenue of RM71.9 million for the financial year ended July 31 2008, up 33.8 per cent from a year ago. However, its pre-tax profit decreased to RM6.9 million from RM13.1 million, mainly attributed by the commencement of the Penang plant's operations and capital expenditure incurred in its effort to increase the capacity of its silicon microphones.
Monday, January 12, 2009
SelProp...Jan 2009
It has 33 acres of prime land in the Klang Valley suburb.
Kayin, a vehicle controlled by the Wen family, which is led by matriarch Puan Sri Chong Chook Yew, has since Oct 2008 bought over one million SelProp shares on the open market. It paid an average of RM2.60 a share or between RM2.37 and RM2.88 apiece. The latest purchase of 17000 shares was made on Jan 5 2009 at Rm2.75 each.
It is trading at just over half (0.55 times) its net tangible asset (NTA) per share of RM5.03 for the year ended Oct 31, 2008. The discount is magnified if one considers the RM523 million or RM1.52 cash per share it has in its books.
Will the controlling shareholder Kayin – which already controls 61.52% of SelProp mount a privatization swoop? Cash is not a major issue should it consider such a move. The RM523 million cash in SelProp’s books is more than enough for Kayin to pay as much as Rm3.96 a share for the 132 million shares it does not already own to privatize the company.
The question is, does Kayin have the motivation to made another VGO for SelProp?
Today (Jan 2009), SelProp would have a RM3.37 if one were to peg its price at 0.67 times its NTA of RM5.03. At Rm3.37 (22.5% gain from RM2.75) apiece, a privatization offer fro SelProp would cost Kayin some Rm445 million.
The theoretical RM445 million is less that the carrying value of the development landbank SelProp has in its books of Rm465 million. SelProp has another RM496 million worth of investment properties and only about RM120 million of short term borrowings and payables as at end Oct 2008.
However, prospects in 2009 are uncertain. Expectations are that the company will delay the launch of two of its major development projects in Damansara Heights given the softer real estate market.
Kayin, a vehicle controlled by the Wen family, which is led by matriarch Puan Sri Chong Chook Yew, has since Oct 2008 bought over one million SelProp shares on the open market. It paid an average of RM2.60 a share or between RM2.37 and RM2.88 apiece. The latest purchase of 17000 shares was made on Jan 5 2009 at Rm2.75 each.
It is trading at just over half (0.55 times) its net tangible asset (NTA) per share of RM5.03 for the year ended Oct 31, 2008. The discount is magnified if one considers the RM523 million or RM1.52 cash per share it has in its books.
Will the controlling shareholder Kayin – which already controls 61.52% of SelProp mount a privatization swoop? Cash is not a major issue should it consider such a move. The RM523 million cash in SelProp’s books is more than enough for Kayin to pay as much as Rm3.96 a share for the 132 million shares it does not already own to privatize the company.
The question is, does Kayin have the motivation to made another VGO for SelProp?
Today (Jan 2009), SelProp would have a RM3.37 if one were to peg its price at 0.67 times its NTA of RM5.03. At Rm3.37 (22.5% gain from RM2.75) apiece, a privatization offer fro SelProp would cost Kayin some Rm445 million.
The theoretical RM445 million is less that the carrying value of the development landbank SelProp has in its books of Rm465 million. SelProp has another RM496 million worth of investment properties and only about RM120 million of short term borrowings and payables as at end Oct 2008.
However, prospects in 2009 are uncertain. Expectations are that the company will delay the launch of two of its major development projects in Damansara Heights given the softer real estate market.
Sunday, January 11, 2009
Received letter from PTPTN ..... SSPN registration.
Finally, received letter & membercard from PTPTN, which I opened in ptptn agents sometime November 2008.
Attached the letter.
Attached the membercard.
No statement?
Will check out this with ptptn.
************************************************************************************
Hi Yan,
Regards to your queries:
"* Mulai 1 Januari 2008, pinjaman hanya dipertimbangkan kepada pelajar yang mempunyai akaun simpanan SSPN sekurang-kurangnya RM 3,000.00 bagi ibu bapa yang berpendapatan RM2,000.00 ke atas dan RM500.00 bagi ibu bapa yang berpendapatan kurang dari RM2,000.00". Is this true??
My son told me I need to open SSPN account with RM 20 only?? "
I will confirm this with ptptn and update you on this in my blogs later.
Stay tune.
*************************************************************************************
Related post:
Open an account in ptptn.
PTPTN entitle for 3K Tax deduction.
Attached the letter.
Attached the membercard.
No statement?
Will check out this with ptptn.
************************************************************************************
Hi Yan,
Regards to your queries:
"* Mulai 1 Januari 2008, pinjaman hanya dipertimbangkan kepada pelajar yang mempunyai akaun simpanan SSPN sekurang-kurangnya RM 3,000.00 bagi ibu bapa yang berpendapatan RM2,000.00 ke atas dan RM500.00 bagi ibu bapa yang berpendapatan kurang dari RM2,000.00". Is this true??
My son told me I need to open SSPN account with RM 20 only?? "
I will confirm this with ptptn and update you on this in my blogs later.
Stay tune.
*************************************************************************************
Related post:
Open an account in ptptn.
PTPTN entitle for 3K Tax deduction.
Saturday, January 10, 2009
Former Satyam chairman, managing director arrested
Indian police arrest former chairman, managing director of outsourcing company Satyam
HYDERABAD, India (AP) -- Indian police on Friday arrested B. Ramalinga Raju, the founder and former chairman of beleaguered outsourcing giant Satyam Computer, days after he admitted he doctored the company's accounts to the tune of $1 billion
Satyam's balance sheets were riddled with "fictitious" assets and "non existent" cash that could no longer be concealed after a deal intended to save the struggling company was abandoned, Raju admitted Wednesday in a letter to the company's board.
Raju and his brother, former managing director B. Rama Raju were arrested in the southern city of Hyderabad, according to S.S. Yadav, the top police official of Andhra Pradesh state where the company is headquartered. Hyderabad is the capital of Andhra Pradesh.
The brothers resigned their posts in the company Wednesday.
Yadav said the men were being investigated for cheating, forgery, criminal breach of trust and falsifying documents. They may face up to 10 years in prison, he said.
Several investors in Satyam were considering suing PricewaterhouseCoopers LLC, the auditor of the company's doctored accounts, an attorney said Friday.
Satyam shares fell another 45.5 percent Friday to 21.75 rupees in Mumbai, following an 80 percent plunge Wednesday. Trading was closed Thursday because of a holiday.
"PricewaterhouseCoopers would be responsible in certain circumstances. I mean they are supposed to check on the accounts and their audit report is relied upon by various people," said Ravi Nath, a lawyer with the Rajinder Narain law firm, which has been contacted by several investors intending to sue the auditor. "On my first impression, PricewaterhouseCoopers needs to answer a few things."
The auditing firm said in the statement that they had worked "in accordance with applicable auditing standards and were supported by appropriate audit evidence."
"Given our obligations for client confidentiality, it is not possible for us to comment upon the alleged irregularities. Price Waterhouse will fully meet its obligations to cooperate with the regulators and others," the statement said.
The international accounting firm, PricewaterhouseCoopers International Ltd., is based in London.
Beginning Monday, the Bombay Stock Exchange will replace Satyam with Sun Pharmaceuticals Ltd. on India's benchmark Sensex stock index.
Top Satyam executives have struggled to reassure investors, employees and clients since news of the scandal broke.
Satyam Computer Services Ltd employs 53,000 people -- among the 2 million Indians working in the country's booming high-tech industry, which last year brought in an estimated $40 billion. Satyam's clients include a slew of Fortune 500 companies including Nestle, General Electric and Ford Motors.
Ram Mynampati, the company's interim head, said the company's top executives relied on audited accounts and were "shocked" by Raju's admissions.
The company's chief financial officer V. Srinivas resigned Thursday.
Meanwhile, Archana Uttapa, a company spokeswoman, denied Indian media reports that Satyam was considering firing 10,000 of its 53,000 employees.
"There is no such move," she said.
Employee salaries have been paid through December and cleared for the month of January as well, she told The Associated Press.
The scandal comes at a delicate time for India's information technology companies, which are struggling against a global slowdown and waning economic growth at home. India's IT firms derive 40 percent of their global revenues from financial services clients.
Andhra Pradesh's chief minister wrote Thursday to Prime Minister Manmohan Singh asking him to appoint a management team that could restore confidence in the company and help protect its employees and investors.
Holders of the company's U.S.-listed shares -- which have been halted from trading on the New York Stock Exchange while regulators investigate -- have filed two class action suits against Satyam, the law firms representing the investors said in separate statements.
The suits filed by Vianale & Vianale LLP and Izard Noble LLP allege Satyam and its top executives issued false and misleading financial statements and violated federal securities laws, the statements on their Web sites said.
His resignation Letter is here:-
Satyam Chairman Ramalinga Raju’s Resignation Letter Goes Online
Friday, January 9, 2009
婚前不能不问的问题
纽约时报刊载了一篇非常有趣的文章：十五则婚前不能不问的问题！反映了这新时代才有的现象。值得深思。
1. 考虑是不是应该有小孩？谁是將来主要负责照顾小孩的人？
2. 是不是清楚对方的財务状况、目標以及共同支出跟储蓄的想法？
3. 是不是曾討论过如何维持这个家庭，以及这个家庭的杂务將由谁来管理？
4. 我们是否都对自己的健康，无论是生理上或者是心理上的状况，完整的告诉对方？
5. 我的另一半是否如我期望般深情温柔？
6. 我们是否能公开且自在的討论性需求、性喜好还有性恐惧？
7. 將来臥房是否会有电视？电视会为对方的生活带来困扰吗？
8. 我们是否真心地互相倾听而且真诚地思考对方的想法和抱怨？
9. 我们是否瞭解彼此的宗教信仰与需求？我们是否討论过我们的孩子何时会接受宗教或道德的教育？
10. 我们是否喜欢和尊敬彼此的朋友？
11. 我们是否尊敬彼此的父母，是否想过对方的父母会否干涉我们的两人世界？
12. 什么原因使我的家庭让你感到不悦或困扰？
13. 是不是还有某些东西，你和我还没准备好，是为了这个婚姻而拋弃的东西（如：习惯），在婚姻生活中，是不是有不愿放弃、让步的事情？
14. 我们其中一人得到一个就业机会，但上班位置却离另外一个人的家庭很远，我们是否仍然准备迁居？
15. 是否我们对对方对婚姻的承诺有充分的信心，並且这承诺无论遇到什么挑战，依然存在？
1. 考虑是不是应该有小孩？谁是將来主要负责照顾小孩的人？
2. 是不是清楚对方的財务状况、目標以及共同支出跟储蓄的想法？
3. 是不是曾討论过如何维持这个家庭，以及这个家庭的杂务將由谁来管理？
4. 我们是否都对自己的健康，无论是生理上或者是心理上的状况，完整的告诉对方？
5. 我的另一半是否如我期望般深情温柔？
6. 我们是否能公开且自在的討论性需求、性喜好还有性恐惧？
7. 將来臥房是否会有电视？电视会为对方的生活带来困扰吗？
8. 我们是否真心地互相倾听而且真诚地思考对方的想法和抱怨？
9. 我们是否瞭解彼此的宗教信仰与需求？我们是否討论过我们的孩子何时会接受宗教或道德的教育？
10. 我们是否喜欢和尊敬彼此的朋友？
11. 我们是否尊敬彼此的父母，是否想过对方的父母会否干涉我们的两人世界？
12. 什么原因使我的家庭让你感到不悦或困扰？
13. 是不是还有某些东西，你和我还没准备好，是为了这个婚姻而拋弃的东西（如：习惯），在婚姻生活中，是不是有不愿放弃、让步的事情？
14. 我们其中一人得到一个就业机会，但上班位置却离另外一个人的家庭很远，我们是否仍然准备迁居？
15. 是否我们对对方对婚姻的承诺有充分的信心，並且这承诺无论遇到什么挑战，依然存在？
TA ... Jan 2009
As global stock market tumbled in 2H2008, TA seems to have become more aggressive in growing its property business, an effort that may help mitigate the fall of earnings in its stockbroking business.
In Oct 2008, after TA announced plans to acquire Coast Whistler Hotel in British Columbia , Canada , for C$33 million cash, it entered into another agreement in mid-Dec 2008 to buy The Westin Melbourne in Australia for A$160 million.
On financing, the company is securing a loan and a few banks have expressed interest in funding the proposed acquisition of The Westin Melbourne. TA intends to bowwor A$60 million to partly fund the purchase.
Unlike the Coast Whistler Hotel, which is being acquired directly by TA’s soon to be listed property investment arm TA Global Bhd. The Westin Melbournce is being acquired by TA’s newly established wholly owned subsidiaries TA Covenant Ltd and Ascents Hotel Pty Ltd.
The company has not made a decision on whether The Westin Melbourne will be injected into TA Global post listing. TA received approval from the Sc in Nov2008 for the listing of TA Global. It has until May 2009 to list the unit.
Financial Results …
For the first nine months of FY2008 ended Oct 31, 2008, the property business has overtaken stockbroking as the largest earnings contributor to the group, compares with a year earlier. Its property development segment saw a whopping 177% year on year increase in operating profit to RM125 million.
On the face of it, TA is forking out A$160 million for an investment that yields 7.6%. But going forward, what TA plans to do with its overseas assets is something that would be watched by investors of this stock broker cum property developer.
At end Oct 2008, TYA had cashed of Rm400 million, while its total borrowings stood at RM117 million. If the company borrows A$160 million and uses its cash reserves to pay for the reaming A$100 million for The Westin Melbourne Hotel, it would still have some Rm160 million. With such a cash position the company is certainly in a comfortable position to acquire more assets.
In Oct 2008, after TA announced plans to acquire Coast Whistler Hotel in British Columbia , Canada , for C$33 million cash, it entered into another agreement in mid-Dec 2008 to buy The Westin Melbourne in Australia for A$160 million.
On financing, the company is securing a loan and a few banks have expressed interest in funding the proposed acquisition of The Westin Melbourne. TA intends to bowwor A$60 million to partly fund the purchase.
Unlike the Coast Whistler Hotel, which is being acquired directly by TA’s soon to be listed property investment arm TA Global Bhd. The Westin Melbournce is being acquired by TA’s newly established wholly owned subsidiaries TA Covenant Ltd and Ascents Hotel Pty Ltd.
The company has not made a decision on whether The Westin Melbourne will be injected into TA Global post listing. TA received approval from the Sc in Nov2008 for the listing of TA Global. It has until May 2009 to list the unit.
Financial Results …
For the first nine months of FY2008 ended Oct 31, 2008, the property business has overtaken stockbroking as the largest earnings contributor to the group, compares with a year earlier. Its property development segment saw a whopping 177% year on year increase in operating profit to RM125 million.
On the face of it, TA is forking out A$160 million for an investment that yields 7.6%. But going forward, what TA plans to do with its overseas assets is something that would be watched by investors of this stock broker cum property developer.
At end Oct 2008, TYA had cashed of Rm400 million, while its total borrowings stood at RM117 million. If the company borrows A$160 million and uses its cash reserves to pay for the reaming A$100 million for The Westin Melbourne Hotel, it would still have some Rm160 million. With such a cash position the company is certainly in a comfortable position to acquire more assets.
Thursday, January 8, 2009
MAHB ... Jan 2009
It is going ahead with its plan to build a low cost carrier terminal in Sepang despite news that Airasia Bhd, together with Some Darby Bhd, has proposed to start its own terminal operations near the existing airport.
Sources say So far, the government has not asked MAHB to scarp its plan to build a permanent LCCT at KLIA. It will be built as planned on the assumption that Airasia will be using the new terminal. The work on the LCCT could start early 2009.
In Dec 2008, the Cabinet gave Airasia and Sime Darby the greenlight to build a new LCCT in Labu, NS. But the approval is subject to various regulatory approvals. If Airasia gets the final nod from the government, MAHB will then decide on its next step.
Going Forward …
Will MAHB have a role in this new development if the new terminal goes ahead as plan? If not, how will it affect its business?
Estimates that MAHB may lose as much as RM80 million in revenue solely on passenger service and passenger service security charges. The figure will be greater if landing and parking charges are included.
MAHB is certainly the main loser but believe that the company will not merely sit back given the latest developments and will seek government compensation if the new airport is to be operated by Airasia on completion.
No airline in the world has its own commercial airport, thus MAHB and other airlines may cite anti-competition clauses against the new proposal.
The irony, is, if MAHB is already in the process of building a new LCCT, why did the government give its approval for another player to build one? Industry players say they have not seen MAHB’s approved plans for the new LCCT.
To recap, MAHB announced in 2008 that it had earmarked a site next to the KLCI satellite and main terminal building for a new LCCT with capacity to handle 30-35 million passengers a year. The LCCT will also offer better connectivity for passengers.
But all is not lost for MAHB as with some clarity on the long overdue financial restructuring plan following the government’s recent approval, the airport operator may have the necessary muscle to draw new airlines and grow its airports further.
Other link related to MAHB:
MAHB ... Sept 2008
Sources say So far, the government has not asked MAHB to scarp its plan to build a permanent LCCT at KLIA. It will be built as planned on the assumption that Airasia will be using the new terminal. The work on the LCCT could start early 2009.
In Dec 2008, the Cabinet gave Airasia and Sime Darby the greenlight to build a new LCCT in Labu, NS. But the approval is subject to various regulatory approvals. If Airasia gets the final nod from the government, MAHB will then decide on its next step.
Going Forward …
Will MAHB have a role in this new development if the new terminal goes ahead as plan? If not, how will it affect its business?
Estimates that MAHB may lose as much as RM80 million in revenue solely on passenger service and passenger service security charges. The figure will be greater if landing and parking charges are included.
MAHB is certainly the main loser but believe that the company will not merely sit back given the latest developments and will seek government compensation if the new airport is to be operated by Airasia on completion.
No airline in the world has its own commercial airport, thus MAHB and other airlines may cite anti-competition clauses against the new proposal.
The irony, is, if MAHB is already in the process of building a new LCCT, why did the government give its approval for another player to build one? Industry players say they have not seen MAHB’s approved plans for the new LCCT.
To recap, MAHB announced in 2008 that it had earmarked a site next to the KLCI satellite and main terminal building for a new LCCT with capacity to handle 30-35 million passengers a year. The LCCT will also offer better connectivity for passengers.
But all is not lost for MAHB as with some clarity on the long overdue financial restructuring plan following the government’s recent approval, the airport operator may have the necessary muscle to draw new airlines and grow its airports further.
Other link related to MAHB:
MAHB ... Sept 2008
Wednesday, January 7, 2009
India IT boss quits over scandal
The boss of Satyam, India's fourth-biggest software firm, has resigned after revealing financial irregularities in the firm's accounts.
Chairman Ramalinga Raju apologised and said "the gap in the balance sheet has arisen purely on account of inflated profits" during several years.
He said he was subjecting himself to the laws of the land and would "face the consequences".
India's benchmark index fell nearly 4% on the news, as Satyam stock shed 60%.
In a letter to the board of directors, Mr Raju said that neither he nor the managing director took any money from the company and did not benefit in financial terms following the "inflated results".
The BBC's Sanjoy Majumder in Delhi says analysts see this as one of the worst crises to have hit corporate India, at a time when it was hoping to attract foreign investors looking for quick gains in emerging markets.
Our correspondent says many fear that the international community will now take a harder look at Indian companies and think twice about placing their money there.
Jigar Shah, senior vice-president at Kim Eng Securities, said: "I think there is no fortune for this stock. The case for India is similar to what happened to Enron in the US."
Satyam specialises in business software and benefited from the IT outsourcing boom.
Chairman Ramalinga Raju apologised and said "the gap in the balance sheet has arisen purely on account of inflated profits" during several years.
He said he was subjecting himself to the laws of the land and would "face the consequences".
India's benchmark index fell nearly 4% on the news, as Satyam stock shed 60%.
In a letter to the board of directors, Mr Raju said that neither he nor the managing director took any money from the company and did not benefit in financial terms following the "inflated results".
The BBC's Sanjoy Majumder in Delhi says analysts see this as one of the worst crises to have hit corporate India, at a time when it was hoping to attract foreign investors looking for quick gains in emerging markets.
Our correspondent says many fear that the international community will now take a harder look at Indian companies and think twice about placing their money there.
Jigar Shah, senior vice-president at Kim Eng Securities, said: "I think there is no fortune for this stock. The case for India is similar to what happened to Enron in the US."
Satyam specialises in business software and benefited from the IT outsourcing boom.
OSK/GPacket ... Jan 2009
OSK Technology Ventures Sdn Bhd subscribed for 10.81 million shares of Green Packet Bhd at 70 sen each under a private placement exercise. A filing with Bursa Malaysia showed OSK Tech Ventures’ shareholding in Green Packet increased to 64.14 million shares of 16.23% after the acquisition of the stake.
Another filing showed Green Packet Holdings Ltd has subscribed for 22.84 million Green Packet shares also at 70 sen each under the private placement exercise. After the subscription, its direct shareholding rose too 134.42 million shares or 34.26%.
Green Packet had proposed a private placement of up to 70.43 million new shares of 20 sen each, representing 20% of the paid-up share capital. The board had fixed the issue price of 70 sen per placement share for the first and final tranche of the proposed private placement comprising of 66.65 million placement shares.
Other link related to GPacket:
Why Gpacket is so aggressive lately?
Gpacket ... Oct 2008
GPacket/Redtone ... Sept 2008
Gpacket ... Aug 2008
Another filing showed Green Packet Holdings Ltd has subscribed for 22.84 million Green Packet shares also at 70 sen each under the private placement exercise. After the subscription, its direct shareholding rose too 134.42 million shares or 34.26%.
Green Packet had proposed a private placement of up to 70.43 million new shares of 20 sen each, representing 20% of the paid-up share capital. The board had fixed the issue price of 70 sen per placement share for the first and final tranche of the proposed private placement comprising of 66.65 million placement shares.
Other link related to GPacket:
Why Gpacket is so aggressive lately?
Gpacket ... Oct 2008
GPacket/Redtone ... Sept 2008
Gpacket ... Aug 2008
Tuesday, January 6, 2009
KLK ... Jan 2009
It has proposed to allocate about RM1.32bil to buy back up to 10% of its paid-up capital.
It is seeking their mandate for the buyback, the 10% stake would amount to 106.4 million shares. The funding for the proposed authority to buy back shares will be sourced wholly from internal funds. The RM1.32bil represented the audited retained earnings of the company as at Sept 30 2008.
However, the actual number of shares to be purchased, the total amount of funds to be utilised, the impact on cashflow and the timing of the purchase would depend on the prevailing equity market conditions and the company’s financial resources.
The proposed share buyback, if exercised, was expected to enhance the group’s earnings per share (EPS). The increase in EPS, if any, arising from the proposed authority to buy back shares may have a positive effect on the market price of KLK shares. Therefore, long-term investors are expected to enjoy a corresponding increase in the value of their investments in the company.
The board said if the shares bought back were kept as treasury shares, it would give the directors an option to sell them at a higher price and therefore make an exceptional gain for KLK without affecting the total issued and paid-up capital of the company.
Alternatively, the shares so purchased can be distributed as share dividends to shareholders and, if undertaken, would serve to reward KLK shareholders.
As at Dec 1 2008, the public shareholding spread of KLK was about 36.94%. Assuming the proposed authority to buy back shares was carried out in full on Dec 1 2008, the pro-forma public shareholding spread of the company would be reduced to 29.94%.
The audited net asset of the KLK group as at Sept 30 2008 was RM5.54bil, representing a net asset per share of RM5.20. Based on the fourth-quarter results ended Sept 30 2008, KLK had cash and cash equivalents of RM1.16bil.
Other link related to KLK:
KLK
It is seeking their mandate for the buyback, the 10% stake would amount to 106.4 million shares. The funding for the proposed authority to buy back shares will be sourced wholly from internal funds. The RM1.32bil represented the audited retained earnings of the company as at Sept 30 2008.
However, the actual number of shares to be purchased, the total amount of funds to be utilised, the impact on cashflow and the timing of the purchase would depend on the prevailing equity market conditions and the company’s financial resources.
The proposed share buyback, if exercised, was expected to enhance the group’s earnings per share (EPS). The increase in EPS, if any, arising from the proposed authority to buy back shares may have a positive effect on the market price of KLK shares. Therefore, long-term investors are expected to enjoy a corresponding increase in the value of their investments in the company.
The board said if the shares bought back were kept as treasury shares, it would give the directors an option to sell them at a higher price and therefore make an exceptional gain for KLK without affecting the total issued and paid-up capital of the company.
Alternatively, the shares so purchased can be distributed as share dividends to shareholders and, if undertaken, would serve to reward KLK shareholders.
As at Dec 1 2008, the public shareholding spread of KLK was about 36.94%. Assuming the proposed authority to buy back shares was carried out in full on Dec 1 2008, the pro-forma public shareholding spread of the company would be reduced to 29.94%.
The audited net asset of the KLK group as at Sept 30 2008 was RM5.54bil, representing a net asset per share of RM5.20. Based on the fourth-quarter results ended Sept 30 2008, KLK had cash and cash equivalents of RM1.16bil.
Other link related to KLK:
KLK
Monday, January 5, 2009
YTL ... Jan 2009
It aims to buy under-performing hotels and resorts internationally and turn them around, despite fears that the global economic turbulence may worsen next year (2009).
They have, in the last 10 years, successfully built a platform to where we are now. They are now entering a growth phase. Assets are getting cheap and there are a lot of opportunities to buy. Next year (2009) will be a hunting year followed by acquisition.
It has been approached by international hotel and resort owners with proposals to buy their properties, which are being studied now.
YTL, with its war chest of more than RM10 billion, is in a good position to pick up some quality assets at depressed prices following the global financial meltdown.
The group will acquire a few assets based on its cash flow position, and also, if the price is right.
Its current portfolio comprises resorts, city hotels and quality properties. Any acquisition will have to fit into the three segments.
YTL, through its hospitality arm YTL Hotels & Properties (YTLHP) Sdn Bhd, is involved in both ownership and management of properties, comprising a collection of internationally renowned, award-winning resorts, hotels and spas.
YTLHP owns Cameron Highlands Resort, JW Marriot KL, Spa Village Resort Tembok Bali, Villa Tassana in Phuket, and Bray House, Berkshire in the UK. It has also stakes in Majestic Malacca, The Chedi in Phuket, Vistana Hotel in KL, Penang and Kuantan and Tanjong Jara Resort.
All the properties are managed by YTLHP, including Pangkor Laut Resort and The Ritz-Carlton KL, which are majority owned by the Yeoh family.
They will look at markets in Indonesia, Singapore, the UK, Thailand and Australia.
Other link related to YTL:
YTL Corp Bhd ... Nov 20098
They have, in the last 10 years, successfully built a platform to where we are now. They are now entering a growth phase. Assets are getting cheap and there are a lot of opportunities to buy. Next year (2009) will be a hunting year followed by acquisition.
It has been approached by international hotel and resort owners with proposals to buy their properties, which are being studied now.
YTL, with its war chest of more than RM10 billion, is in a good position to pick up some quality assets at depressed prices following the global financial meltdown.
The group will acquire a few assets based on its cash flow position, and also, if the price is right.
Its current portfolio comprises resorts, city hotels and quality properties. Any acquisition will have to fit into the three segments.
YTL, through its hospitality arm YTL Hotels & Properties (YTLHP) Sdn Bhd, is involved in both ownership and management of properties, comprising a collection of internationally renowned, award-winning resorts, hotels and spas.
YTLHP owns Cameron Highlands Resort, JW Marriot KL, Spa Village Resort Tembok Bali, Villa Tassana in Phuket, and Bray House, Berkshire in the UK. It has also stakes in Majestic Malacca, The Chedi in Phuket, Vistana Hotel in KL, Penang and Kuantan and Tanjong Jara Resort.
All the properties are managed by YTLHP, including Pangkor Laut Resort and The Ritz-Carlton KL, which are majority owned by the Yeoh family.
They will look at markets in Indonesia, Singapore, the UK, Thailand and Australia.
Other link related to YTL:
YTL Corp Bhd ... Nov 20098
Sunday, January 4, 2009
Saturday, January 3, 2009
Can I Borrow $25?
A man came home from work late, tired and irritated, to find his 5-year old son waiting for him at the door.
SON: 'Daddy, may I ask you a question?'
DAD: 'Yeah sure, what it is?' replied the man.
SON: 'Daddy, how much do you make an hour?'
DAD: 'That's none of your business. Why do you ask such a thing?' the man said angrily.
SON: 'I just want to know. Please tell me, how much do you make an hour?'
DAD: 'If you must know, I make $50 an hour.'
SON: 'Oh,' the little boy replied, with his head down.
SON: 'Daddy, may I please borrow $25?'
The father was furious, 'If the only reason you asked that is so you can borrow some money to buy a silly toy or some other nonsense, then you march yourself straight to your room and go to bed. Think about why you are being so selfish. I don't work hard everyday for such childish frivolities.'
The little boy quietly went to his room and shut the door.
The man sat down and started to get even angrier about the little boy's questions. How dare he ask such questions only to get some money?
After about an hour or so, the man had calmed down, and started to think:
Maybe there was something he really needed to buy with that $25.00 and he really didn't ask for money very often The man went to the door of the little boy's room and opened the door.
'Are you asleep, son?' He asked.
'No daddy, I'm awake,' replied the boy.
'I've been thinking, maybe I was too hard on you earlier' said the man. 'It's been a long day and I took out my aggravation on you. Here's the $25 you asked for.'
The little boy sat straight up, smiling. 'Oh, thank you daddy!' he yelled. Then, reaching under his pillow he pulled out some crumpled up bills.
The man saw that the boy already had money, started to get angry again.
The little boy slowly counted out his money, and then looked up at his father.
'Why do you want more money if you already have some?' the father grumbled.
'Because I didn't have enough, but now I do,' the little boy replied.
'Daddy, I have $50 now. Can I buy an hour of your time? Please come home early tomorrow. I would like to have dinner with you.'
The father was crushed. He put his arms around his little son, and he begged for his forgiveness.
It's just a short reminder to all of you working so hard in life. We should not let time slip through our fingers without having spent some time with those who really matter to us, those close to our hearts. Do remember to share that $50 worth of your time with someone you love.
Have we forgotten what is really important in life? Too caught up in money, personal ambitions, and forgot how to enjoy and appreciate the sweet simplicities in life?
If we die tomorrow, the company that we are working for could easily replace us in a matter of hours. But the family & friends we leave behind will feel the loss for the rest of their lives.
Please don't break this even if you only send it to one person. Thanks
SON: 'Daddy, may I ask you a question?'
DAD: 'Yeah sure, what it is?' replied the man.
SON: 'Daddy, how much do you make an hour?'
DAD: 'That's none of your business. Why do you ask such a thing?' the man said angrily.
SON: 'I just want to know. Please tell me, how much do you make an hour?'
DAD: 'If you must know, I make $50 an hour.'
SON: 'Oh,' the little boy replied, with his head down.
SON: 'Daddy, may I please borrow $25?'
The father was furious, 'If the only reason you asked that is so you can borrow some money to buy a silly toy or some other nonsense, then you march yourself straight to your room and go to bed. Think about why you are being so selfish. I don't work hard everyday for such childish frivolities.'
The little boy quietly went to his room and shut the door.
The man sat down and started to get even angrier about the little boy's questions. How dare he ask such questions only to get some money?
After about an hour or so, the man had calmed down, and started to think:
Maybe there was something he really needed to buy with that $25.00 and he really didn't ask for money very often The man went to the door of the little boy's room and opened the door.
'Are you asleep, son?' He asked.
'No daddy, I'm awake,' replied the boy.
'I've been thinking, maybe I was too hard on you earlier' said the man. 'It's been a long day and I took out my aggravation on you. Here's the $25 you asked for.'
The little boy sat straight up, smiling. 'Oh, thank you daddy!' he yelled. Then, reaching under his pillow he pulled out some crumpled up bills.
The man saw that the boy already had money, started to get angry again.
The little boy slowly counted out his money, and then looked up at his father.
'Why do you want more money if you already have some?' the father grumbled.
'Because I didn't have enough, but now I do,' the little boy replied.
'Daddy, I have $50 now. Can I buy an hour of your time? Please come home early tomorrow. I would like to have dinner with you.'
The father was crushed. He put his arms around his little son, and he begged for his forgiveness.
It's just a short reminder to all of you working so hard in life. We should not let time slip through our fingers without having spent some time with those who really matter to us, those close to our hearts. Do remember to share that $50 worth of your time with someone you love.
Have we forgotten what is really important in life? Too caught up in money, personal ambitions, and forgot how to enjoy and appreciate the sweet simplicities in life?
If we die tomorrow, the company that we are working for could easily replace us in a matter of hours. But the family & friends we leave behind will feel the loss for the rest of their lives.
Please don't break this even if you only send it to one person. Thanks
Friday, January 2, 2009
Personal Money Ten Stock Picks for 2009
1. BHIC by Affin
2. Commerz by RHB
3. Dialog by MIDF
4. IGB by HDBS
5. IOICorp by Avenue
6. QL by OSK
7. MMCCorp by Fortress
8. TanChong by KAF
9. Top Glove by Meridien
10. Tanjong by TA
2. Commerz by RHB
3. Dialog by MIDF
4. IGB by HDBS
5. IOICorp by Avenue
6. QL by OSK
7. MMCCorp by Fortress
8. TanChong by KAF
9. Top Glove by Meridien
10. Tanjong by TA
GUH
The performance of local printed-circuit board manufacturer GUH Holdings Bhd over the past three quarters has placed the group on a strong footing to compete in a debilitated economic environment next year.
Financial Results … For the nine months ended Sept 30 2008, the group posted pre-tax profit of RM27.8mil on revenue of RM231.2mil, increasing the group’s cash position to RM69.1mil, compared with RM45.7mil a year ago.
The group’s strong cash flow would be used for strategic asset acquisitions and identifying a new range of printed circuit boards (PCBs) to manufacture.
They plan to strengthen our foothold on our existing range of PCBs and manufacture multiple-layered PCBs next year that are above six layers. The demand for such multi-layered PCBs comes from the telecommunication, automotive and medical instruments industries.
Presently, the group is focused on making single-sided, double-sided “carbon thru hole”, “copper plating thru hole” and “silver thru hole”, and multi-layered (up to six layers) PCBs that are widely used in large consumer electronic products such as LCD display panels.
Financial Results … For the nine months ended Sept 30 2008, the group posted pre-tax profit of RM27.8mil on revenue of RM231.2mil, increasing the group’s cash position to RM69.1mil, compared with RM45.7mil a year ago.
The group’s strong cash flow would be used for strategic asset acquisitions and identifying a new range of printed circuit boards (PCBs) to manufacture.
They plan to strengthen our foothold on our existing range of PCBs and manufacture multiple-layered PCBs next year that are above six layers. The demand for such multi-layered PCBs comes from the telecommunication, automotive and medical instruments industries.
Presently, the group is focused on making single-sided, double-sided “carbon thru hole”, “copper plating thru hole” and “silver thru hole”, and multi-layered (up to six layers) PCBs that are widely used in large consumer electronic products such as LCD display panels.
Thursday, January 1, 2009
Happy New Year 2009
Best Wishes to you and your family in the New Year 2009.
H ours of happy times with friends and family
A bundant time for relaxation
P rosperity
P lenty of love when you need it the most
Y outhful excitement at lifes simple pleasures
N ights of restful slumber (you know - dont' worry be happy)
E verything you need
W ishing you love and light
Y ears and years of good health
E njoyment and mirth
A angels to watch over you
R embrances of a happy years!