Documenti di Didattica
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42
0.68
2.00
STI 3431.59
12.57
RM/USD 3.6570
CPO RM2194.00
27.00
OIL US$58.75
2.27
GOLD US$1209.80
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50
FINANCIAL
DAILY
MAKE
BETTER
DECISIONS
www.theedgemarkets.com
6 HOME BUSINESS
No delay to T4 power
plant construction,
says Malakoff
8 HOME BUSINESS
Phaseout of PPSMI
runs to 2021
20 P R O P E R
RT
TY
28 BLVD registers
62% take-up rate
by
u
o
y
o
t
t
h
g
u
o
r
b
s
i
y
p
o
c
l
a
t
This digi
12.80
0.68
2.00
STI 3431.59
12.57
RM/USD 3.6570
CPO RM2194.00
27.00
OIL US$58.75
2.27
GOLD US$1209.80
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50
FINANCIAL
DAILY
MAKE
BETTER
DECISIONS
www.theedgemarkets.com
6 HOME BUSINESS
No delay to T4 power
plant construction,
says Malakoff
8 HOME BUSINESS
Phaseout of PPSMI
runs to 2021
20 P R O P E RT Y
28 BLVD registers
62% take-up rate
12.80
ON EDGE T V
www.theedgemarkets.com
SP Setia expects
better sales after GST
implementation
4 HOME BUSINESS
Vol (mil)
0.5
0.4
100
0.3
80
0.2
$58.96
60
0.1
40
BY C Y N T H IA B L E MIN
Najib: 1MDB
owes local
banks RM5.037b
BY C H E N S H AUA F UI
15
r 19, 20
ck: Ma
lashba
the
he IPO of its power assets
assets.
The statement came when he
announced that a special task force
will be set up to investigate 1MDBs
operations and its RM42 billion
debt, which is separate from the one
by the Attorney-General (AG) announced last week that comprises
the Inspector-General of Police Tan
Sri Khalid Abu Bakar, the Malaysian
Anti-Corruption Commission, the
AGs chambers and the police.
Besides himself, Ahmad Husni
said the members of this new task
force will include Minister in the
Prime Ministers Department Datuk Seri Abdul Wahid Omar, Chief
Secretary to the Government Tan
6 HOME BUSINESS
KUALA LUMPUR: Construction outfit Gamuda Bhd saw its net profit for
the second quarter ended January
(2QFY15) increase 7.1% to RM182.18
million or 7.78 sen per share from
RM170.12 million or 7.41 sen per
share a year ago.
Revenue grew 26.2% to RM653.24
million from RM517.63 million in
2QFY14. In a filing with Bursa Malaysia yesterday, Gamuda said the
increase in revenue and profit was
mainly due to additional stake in Kesas Sdn Bhd, the concession holder
of Shah Alam Expressway.
For the cumulative six-months
period (6MFY15), Gamudas net profit rose 9.7% to RM368.03 million or
15.78 sen per share from RM335.60
million or 14.66 sen per share a year
to reward shareholders.
The board is also considering
to invite Lembaga Tabung Haji,
the companys second-largest
shareholder, to sit on the board.
Kean Soon is the third-largest shareholder ofTanjung Offshore, with a 7.58% stake, after its
chief executive officer Rahmandin
Shamsudins 9.99% holdings, and
Lembaga Tabung Hajis 7.99% equity interest. All shareholders can
expect a transparent and accountable board which will endeavour
to provide the best returns in these
challenging times for the oil and
gas industry, he said. In the past
two days, Tanjung Offshorehas
withdrawn all lawsuitsagainst
Kean Soonand related parties.
This follows the lifting of the suspension of Kean Soons and two
other officers roles on Monday.
Kean Soon and two shareholders had also calledoffan extraordinary general meeting that was
slated for today.
Tanjung Offshore shares closed
unchanged at 51.5 sen yesterday,
giving it a market capitalisation of
RM195.22 million.
8 HOME BUSINESS
Bioalpha eyes
Middle East
market in 2016
It has signed MoU with UAE-based company
BY SU L H I A ZMA N
HOME BUSINESS 9
10 H O M E B U S I N E S S
DGB Asia
condent of
returning to prot
in FY15 after ve
years of losses
BY C H E S T E R TAY
We are going to
capitalise on the
Asean Economic
Community.
ST O C KS W I T H M O M E N T U M 11
This column is an analysis done by Asia Analytica Sdn Bhd on the fundamentals of stocks with momentum that were picked up using proprietary algorithm by
Anticipatory Analytics Sdn Bhd and that rst appeared at www.theedgemarkets.com. Please exercise your own judgment or seek professional advice for your specic
investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
CAN-ONE BHD
(ALL FIGURES IN MYR MIL)
Financials
Turnover
EBITDA
Interest expense
Pre-tax prot
Net prot - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
CAN-ONE BHD
RATIOS
DPS (MYR)
Net asset per share (MYR)
ROE (%)
Turnover growth (%)
Net prot growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
Financials
Turnover
EBITDA
Interest expense
Pre-tax prot
Net prot - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
DPS (MYR)
Net asset per share (MYR)
ROE (%)
Turnover growth (%)
Net prot growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
Financials
Turnover
EBITDA
Interest expense
Pre-tax prot
Net prot - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
DPS (MYR)
Net asset per share (MYR)
ROE (%)
Turnover growth (%)
Net prot growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
FY11
FY12
FY13
FY2014Q4
31/12/2011
31/12/2012
31/12/2013
31/12/2014
630.98
63.51
9.18
41.91
32.41
255.15
336.93
228.65
247.45
215.69
789.82
(6.18)
22.79
194.88
170.73
281.42
747.42
396.98
454.66
402.31
772.88
92.48
20.64
93.96
69.67
287.15
811.50
460.61
430.18
392.16
249.96
30.96
5.02
33.93
26.48
301.46
849.87
520.81
526.44
420.29
FY11
FY12
31/12/2011
31/12/2012
31/12/2013
0.03
1.50
15.48
40.51
66.72
5.14
10.44
1.35
94.33
6.92
0.04
2.60
54.58
25.17
426.72
21.62
31.49
1.42
101.34
(0.27)
0.05
3.02
16.25
(2.14)
(59.19)
9.01
8.94
1.59
85.14
4.48
0.05
3.42
13.74
16.31
(8.46)
7.09
7.92
1.35
80.70
4.68
FY11
FY12
FY13
FY2014Q4
31/12/2011
31/12/2012
31/12/2013
31/12/2014
48.76
(4.84)
0.64
(9.35)
(8.60)
51.29
130.38
126.97
14.16
11.96
41.89
(3.31)
0.69
(6.95)
(6.49)
47.82
122.99
120.09
14.29
12.31
49.71
0.72
0.71
(3.47)
(3.35)
44.62
120.79
118.85
18.10
15.26
10.32
234.30
241.15
(4.36)
(4.23)
41.13
113.54
115.36
19.30
16.99
FY11
FY12
31/12/2011
31/12/2012
31/12/2013
0.76
(6.55)
(25.81)
(17.63)
(6.37)
4.50
9.42
(7.60)
0.71
(5.25)
(14.08)
(15.49)
(5.12)
4.10
10.25
(4.78)
0.71
(2.81)
18.67
(6.74)
(2.75)
4.01
12.84
1.02
0.69
(5.64)
(13.45)
(15.47)
(5.56)
3.83
14.73
2.74
FY11
FY12
FY13
FY2014Q4
31/12/2011
31/12/2012
31/12/2013
31/12/2014
116.32
(16.09)
0.01
(21.52)
(19.18)
49.53
184.25
181.90
(61.81)
287.44
(20.17)
0.01
(27.92)
(23.47)
38.39
159.77
158.42
(54.61)
206.61
20.05
16.89
15.81
22.70
175.32
174.23
(107.88)
30.85
6.22
4.42
2.89
41.73
188.18
187.14
0.04
(98.54)
FY11
FY12
31/12/2011
31/12/2012
31/12/2013
0.51
(10.02)
(10.66)
(16.49)
(9.81)
3.04
(2,011.45)
0.44
(13.79)
147.11
(8.17)
(13.65)
3.04
(3,538.63)
0.48
9.50
(28.12)
7.65
9.44
4.87
4,557.46
0.52
5.64
(38.98)
(37.67)
7.82
5.60
4.44
5,079.33
1 2 I N V E ST I N G I D E A S
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own
judgment or seek professional advice for your specic investment needs. We are not responsible for your investment
decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
I N S I D E R A S I AS S TO C K O F T H E D AY
margins are consistently in the double digits, ranging between 14-18%. Net gearing
is low at 5.57%.
Oceancash has a stronghold in a niche
segment and a large target market.
The company manufactures (and exports) resinated and thermoplastic felts,
noise and carpet underlays, that function
as heat and sound insulators. It also produces non-woven products used in baby
diapers and sanitary cloth products. The
company has plants in Malaysia and Indonesia and in 2012, established a trading
company in China.
Whilst the barriers to entry to manufacture these products are low, Oceancash has
significant competitive advantage in having
established long relationships with its major customers.
The company will start a new felt production line in Indonesia this year and
transfer an existing line to Bangkok. This
is aimed to address the expanding automobile and property markets as well as to
improve cost efficiency.
The stock is trading at decent trailing
12-month P/E of 14.75 times and a priceto-book ratio of 1.25 times with a market
capitalisation of RM72.48 million. Its dividend payout increased from 0.2 sen in
2011 to 0.6 sen per share in 2014, which
translates to a modest 1.85% yield.
Insider Asia will feature a new stock pick on every alternate day.
T O N G S
MOMENTUM
P O RT F O L I O
TOTAL value for my portfolio dipped 0.48%
yesterday, to RM97,846.06, dragged down
by losses on Ekowood International and
Comintel Corporation. By comparison,
the FBM KLCI was flat at 1,818.42. Market breath was slightly positive with gainers outnumbering decliners by a ratio of
1.1-to-1.
Regional markets finished mostly lower,
following steep overnight losses on Wall
Street. The DJIA and the S&P 500 dropped
1.62% and 1.46%, respectively, on the back
of soft economic data. Elsewhere, Japans
Nikkei 225 index lost 1.39% while the Hang
Seng index was down 0.13%.
Crude oil futures rose sharply with
the WTI gaining 4.59% to US$ 51.47, at
the point of writing, fuelled by escalating
tension in the Middle East. On Thursday, Saudi Arabia and its Gulf Arab allies
launched military operations against rebels in neighbouring Yemen.
Meanwhile, the ringgit strengthened
to RM3.66 against the greenback. Undermined by weaker economic data, the
dollar index, which measures the value
of USD against a basket of currencies, fell
0.72% to 96.28.
My portfolio is down 2.2% since inception. Despite the loss, I am still outperforming the FBM KLCI, which lost 3.9%
over the same period.
FY11
FY12
FY13
FY2014Q4
31/12/2011
31/12/2012
31/12/2013
31/12/2014
58.06
7.93
3.53
4.39
0.01
0.89
3.51
2.15
58.88
9.50
4.09
5.41
0.01
1.07
4.36
2.62
68.58
12.33
3.86
8.47
0.02
0.70
7.79
6.50
17.81
2.62
0.60
2.02
0.03
0.12
1.92
1.80
42.96
6.68
27.12
12.33
21.67
50.87
42.00
6.35
39.16
7.17
26.86
10.53
17.99
50.41
43.88
4.20
34.51
13.13
34.97
12.32
18.78
53.25
49.25
1.98
44.35
10.25
32.05
12.75
16.90
62.18
58.05
0.74
Income Statement
Turnover
EBITDA
Depreciation
EBIT
Associates
Interest income
Interest expense
Extraordinary gain/(loss)
Pre-tax prot
Net prot - owners of company
Balance sheet
Fixed assets - PPE
Biological assets
Intangibles & goodwill
Cash and equivalents
Total current assets
ST borrowings
Total current liabilities
Total assets
Shareholders' fund
Long term borrowings
DPS (MYR)
Net asset per share (MYR)
ROE (%)
Turnover growth (%)
Net prot growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
QUANTITY
BOUGHT PRICE
RM
42,500
0.235
FY11
FY12
31/12/2011
31/12/2012
31/12/2013
0.19
5.22
4.04
18.70
3.70
4.42
1.25
28.56
8.94
0.20
6.11
1.41
22.11
4.45
5.18
1.49
17.24
8.92
0.22
13.97
16.48
148.07
9.48
12.55
1.86
2.39
17.51
0.01
0.26
9.65
5.99
(24.45)
6.75
8.87
1.90
5.58
18.70
CURRENT VALUE
RM
GAIN / LOSS
RM
% GAIN / LOSS
9,988
0.0%
Shares held:
Comintel Corporation Bhd
0.235
--------------9,987.5
Total
Shares bought:
Ekowood International Bhd
Can-One Bhd
9,987.50
39,200
3,400
0.255
2.86
9,996.00
9,724.00
--------------29,707.5
--------------- --------------9,987.5
-
0.245
2.900
9,604
(392)
9,860
136
--------------- --------------29,451.5
(256.0)
(3.9%)
1.4%
Shares sold:
No shares were sold today.
1,886.4
68,394.6
(11.5)
Days change
Portfolio
FBMKLCI
Portfolio returns since inception
Portfolio returns (annualised)
Portfolio Beta
Risk adjusted returns since inception
(0.48%)
(0.04%)
100,000.00
97,846.1
(2,153.9)
(2.2%)
(3.0%)
1.10
(2.7%)
14 B R O K E R S C A L L / T E C H N I C A L S
The KLCIs 18 and 40 simple moving averages (SMA) depict an emerging uptrend for its daily chart. However, the price bars of the index are
now between the 50 and 200 SMA
and remained neutral on that front.
The recent fall from its all-time high
of 1,896.23 saw a trough at 1,671.82.
The price rebound from 1,671.82
stalled at 1,831.41 (on Feb 4) and
remains below the 200-SMA line
of 1,822.81.
The daily, weekly and monthly indicators (like the CCI, DMI, MACD,
Stochastic and Oscillator) have issued buy signals and now depict
very firm indications of CCMDBIOs
eventual move towards much higher levels. It would attract firm buying activities at the support levels of
RM3.33, RM3.37 and RM3.80. We
expect CCMDBIO to witness some
profit-taking at its resistance and alltime high of RM3.84. Its upside targets are located at RM3.88, RM4.63,
RM4.98, RM5.22 and RM6.20.
Lee Cheng Hooi is the regional
chartist at Maybank Kim Eng. The
views expressed in the article are the
opinions of the writer and should
not be construed as investment advice. Please exercise your own judgment or seek professional advice for
your investment decisions. Technical
report appears every Wednesday
and Friday.
Maxis Bhd
FYE DEC (RM MIL)
SAM FONG
Maxis Bhd
(March 26, RM7.15)
Maintain hold with unchanged
target price of RM7.19. We think
that Maxis is on the right track to
further operational improvement
as customer experience and satisfaction are once again prioritised.
For 2015, Maxis is expected to
register single-digit service revenue growth as it regains lost ground
both in the postpaid and prepaid
segments.
We, nevertheless, think that any
sharp earning upgrades in the near
term would likely be challenging
considering that the other incumbent operators are pursuing similar
strategies to grow revenue share.
Operations aside, we believe the
biggest concern surrounding Maxis
Revenue
Ebitda
Pre-tax profit
Net profit
EPS (sen)
PER (x)
Core net profit
Core EPS (sen)
Core EPS growth (%)
Core PER (x)
Net DPS (sen)
Dividend yield (%)
EV/Ebitda (x)
Affin/Consensus (x)
2013
2014
2015E
2016E
2017E
9,084.0
4,573.0
2,496.0
1,765.0
23.5
30.4
2,097.0
27.9
2.3
25.6
40.0
5.6
13.4
8,389.0
4,296.0
2,436.0
1,721.0
22.9
31.2
1,910.0
25.4
(8.9)
28.1
40.0
5.6
14.6
8,607.9
4,312.5
2,665.5
1,968.4
26.2
27.3
1,968.4
26.2
3.1
27.3
26.0
3.6
14.5
1.0
8,724.9
4,353.7
2,760.1
2,038.5
27.2
26.3
2,038.5
27.2
3.6
26.3
27.0
3.8
14.4
1.0
8,831.0
4,415.5
2,934.3
2,167.4
28.9
24.8
2,167.4
28.9
6.3
24.8
28.0
3.9
14.2
1.0
B R O K E R S C A L L 15
Hil Industries to
expand land bank
Hil Industries Bhd
(March 26, RM1.01)
Non-rated with a fair value of
RM1.18. Hil Industries, a leading custom injection moulder of
engineering plastics, is well-positioned to benefit from the lower
cost of plastic resin and high demand for Perusahaan Otomobil
Kedua Sdn Bhds (Perodua) Axia,
while its successful property ventures into affordable housing enabled the groups earnings to grow
impressively.
The manufacturing division of
the group is involved in plastic injection moulding which produces
plastic original equipment manufacturer (OEM) parts mainly for automotive and IT-related products. Its
customers include Perodua, Proton
Holdings Bhd, Toyota Motor Corp,
Honda Motor Co Ltd and others.
2013
(RM000)
2014
(RM000)
2015F
(RM000)
2016F
(RM000)
Revenue
79,732
81,650 136,405 148,080 155,640
Gross profit
10,153
13,916
34,887
40,277
41,867
Profit before tax
573
5,518
26,618
34,165
36,805
Net profit
(3,119)
2,787
19,713
25,496
27,494
(1.12)
1.00
7.07
9.15
9.86
EPS (sen)
na
98.50
13.9
10.77
9.99
PER (x)
0
0
1.5
2.3
2.5
Dividend per share (sen)
0
0
1.5
2.3
2.5
Dividend yield (%)
(1.2)
1.0
6.8
7.7
7.8
ROE (%)
Net gearing
Net cash Net cash Net cash Net cash Net cash
Profit before tax
0.7
6.8
19.5
23.1
23.6
margin (%)
na
na
607.3
29.3
7.8
Net profit growth (%)
Source: Company, JF Apex
earnings contribution from property division and improved performance in the manufacturing division. That lifted full-year earnings
in FY14 to grow at an impressive
641% y-o-y.
On earnings outlook, we estimate
the groups earnings in FY15 to grow
at 29%, underpinned by strong unbilled sales of RM50 million, a slew
of property launches in the pipeline,
and an improving margin for the
manufacturing division pursuant
to lower cost of plastic resin.
The group is in the midst of expanding its land bank by targeting
16 H O M E
IN BRIEF
Malaysia to ratify Arms
Trade Treaty
KUALA LUMPUR: Malaysia is in
the process of ratifying the Arms
Trade Treaty (ATT) to regulate
international transfers of conventional arms to warring parties
which plan or perpetrate war
crimes. Foreign Ministry deputy secretary-general Datuk Ho
May Yong said the ATT is known
as an international legal instrument that establishes common
binding international standards
to regulate international trade
in conventional arms. Malaysia hopes that the ATT would
achieve its two purposes, namely to contribute to international
peace, security and stability, and
reduce human suffering, she
said. Bernama
H O M E 17
BY V A NB A L AGA N
both the New Straits Times and Berita Harian, and Utusan Melayu (M)
Bhd were ordered to pay RM200,000
each in damages.
She also ordered the three defendants to pay costs amounting to
RM20,000.
The quantum is for the aggravated and exemplary damages caused
to Guan Eng by the defendants for
running a comment piece by Ruslan,
who alleged that Guan Eng was a spy
for Singapore and that he revealed national secrets to PAP leaders during a
meeting in Singapore in August 2011.
It was reported that the articles
published by the three dailies on Oct
2, 2011, were based on a statement
by Ruslan uploaded on the website
pribumiperkasa.com. The Malaysian Insider
18 H O M E
KUALA LUMPUR: Dr Mazlan Othman, the founding director-general of the Malaysian National
Space Agency, has an uphill task
ahead of her as she attempts to
steer Malaysia towards becoming
a leading nation for science and
technology by 2050.
It is a good 35 years away, she
told The Malaysian Insider in an
interview recently, but the process
of getting there will be a long and
complicated one.
The 64-year-old Mazlan is the
project director of the Mega Science 3.0 project aimed at preparing Malaysia for the future in science, technology and innovation.
Launched in January, Mega
Science 3.0 is focused on five industries that raked in more than
RM100 billion in 2013 furniture,
automotive, creative (media and
arts), tourism as well as plastics
and composites.
The first step towards becoming
a leading nation in these areas by
2050, Mazlan said, is to forecast
the state of the nation by 2050.
In order to be the best in science and technology by 2050, we
have to foresee and do some pre-
PETALING JAYA: Four people detained for allegedly insulting a police officer during an anti-goods
and services tax (GST) rally have
been released.
Muhammad Zaki Sukery, one of
the lawyers of the 25 released on
bail earlier, said that the four were
released without charge.
Khalid Mohd Ismath was released because he has been put
under arrest for more than 24
hours. He was arrested earlier in
the morning before the event occurred on Monday. The magistrate
ordered him to be released as his
further detention was unlawful.
All the three others were released yesterday (Wednesday) in
stages after lunch, he said.
Earlier on Wednesday, 25 people, among the 29 who were accused of ignoring a police order
to disperse at the sit-in outside
the Customs Department office
in Kelana Jaya, were released on
bail of RM3,000 in one surety and
must return to court on May 14
Najib (right) and Rosmah signing the condolence book for Kuan Yew at Parliament
House in Singapore yesterday, with Hsien Loong (centre) and his wife Ho Ching (left)
looking on. Photo by AFP
2 0 P R O P E RT Y
FR I
28 BLVD
registers 62%
take-up rate
res
be
me
Pro
the
pu
(RM
inc
to c
ser
pla
BY RAC H EL C H EW
BY
FRA
the
it to
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An artists impression of the 28 BLVD at the Pandan lakeside. Photo by Best Boulevard
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un
M
BY
KU
goe
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alr
Dowling (left)
and Brown at
the Bangkok
press conference
announcing the
partnership. Photo
by Agoda.com
The JV to develop the land will be effected through, among others, a shareholders
agreement and a sale and purchase agreement between Samudra Pelangi Sdn Bhd
(Samudra), an indirect wholly-owned subsidiary of E&O; and Mitsui Fudosan Asia
Pte Ltd (MFA), an indirect wholly-owned
subsidiary of Mitsui Fudosan Co Ltd.
The site is held by Patsawan Properties Sdn
Bhd (Patsawan), a wholly-owned subsidiary
of Samudra. The JV entails the acquisition of
a 49% stake in Patsawan by MFA. After the JV,
Samudra will continue to hold the remaining
51% stake in Patsawan.
The project is within an exclusive residential enclave among diplomatic corps,
and the citys business, retail and cultural
districts.
In 2011, a marketing collaboration was
signed for E&O properties to Mitsuis highnet-worth clientele in Japan. The tie-up
led to a 2013 partnership in which the two
companies developed the 38-storey The
Mews Serviced Residences Kuala Lumpur.
sca
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P R O P E RT Y 2 1
ine
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1.6
aju
ure
Fraser Residence
Kuala Lumpur.
Photo by Frasers
Hospitality Pte Ltd.
indoor and alfresco seating as well as an allday-dining restaurant. Its business accompaniments include boardrooms, meeting
facilities with a capacity of up to 80 persons
and pre-function guest reception areas.
Fraser Residence Kuala Lumpur provides
24-hour security and CCTV surveillance,
round-the-clock reception and concierge
services, 24-hour room service, daily housekeeping, laundry services, shuttle service to
key business and shopping districts, and
complimentary high-speed WiFi Internet
access.
A 20-minute drive from KL Sentral, it is
close to multinational companies, embassies and tourist sites such as the National Art
Gallery and the National History Museum,
and is easily accessible via the Bukit Nanas
monorail and Dang Wangi LRT stations.
BY C A RMEL D OMI NI C
s
d
a
d
n
y
f
V,
g
s,
al
s
p
o
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r.
HOT DEALS
How much is your property worth?
Which and what property has just been
sold, and for how much? What interesting
buys are now on the market? Check out
the following Hot Deals of the week.
Go to www.theedgemarkets.com for more.
Sold
Condominium in Seri Bukit Ceylon,
Kuala Lumpur
Built-up: 936 sq ft; 2 rooms,
2 bathrooms; Freehold; RM810,000
Ideally located in the Golden Triangle
of Kuala Lumpur, Seri Bukit Ceylon was
completed by UM Land in 2005. It comprises a block of 248 units, with 96 serviced
homes, 125 apartment suites, and 27 business suites. Nearby are restaurants and
bars at Changkat Bukit Bintang, and the
KL Pavillion and KLCC shopping centres.
Facilities include a cafe, childrens playground, convenience store, fully equipped
gym, self-service launderette, sauna and
swimming pool.
Sales concluded by Pia Mirpuri of Tower
Realty (012) 9710 130
On the market
Bungalow in Twin Palms Kemensah,
Taman Melawati, Ampang, Selangor
Built-up: 5813 sq ft; 6+1 bedrooms,
7 bathrooms; Freehold; RM4.25 million
With its strategic location and easy access
to highways such as the MRR2 and Duke
Highway, the Twin Palms bungalow offers a
lovely landscaped park and a playground to
give a garden club ambience. In addition,
it offers amenities such as international
schools, shopping hubs and a hospital.
Contact Jocelyn Teoh Oriental Realty (012)
307 5622
WHATS
HAPPENING &
WHERE
Radia Sales Gallery Ocial Launch
Date: Tomorrow
Venue: 2A (Lot 64406) Persiaran
Tebar Layar, Section U8, Bukit Jelutong,
Shah Alam, Selangor.
Time: 6pm-11pm
Contact: (03) 7859 9801
Allow Sarimah Ibrahim to entertain you
and enjoy a fireworks display, among others, at the official launch of the Radia Sales
Gallery. The event is jointly organised by
Sime Darby and UEM Sunrise.
Opening of EcoWorld International
Centre
Date: Sunday
Venue: EcoWorld International Centre,
Suite 3A, 01 Level 3A, The Gardens North
Tower, Mid Valley City, Lingkaran Syed
Putra, Kuala Lumpur.
Time: 10am-6pm
Contact: (03) 2287 2255
The opening of EcoWorld International
Centre marks the developers foray into
the international arena. Guests are invited
to the Privilege Preview of London City
Island, its maiden project in the United
Kingdom. The centre operates from 9am
to 6pm on weekdays, and 10am to 6pm on
weekends and public holidays.
22 C O M M E N T
F E AT U R E 2 3
02
PPSMI in a nutshell
THE Teaching and Learning of
Science and Mathematics in English (PPSMI), the brainchild of
former premier Tun Dr Mahathir
Mohamad, was aimed at addressing the problems faced by Malaysian graduates who lacked
fluency in English and thus had
poor job prospects.
The idea was mooted in 2002
and implemented barely a year
later in 2003. Critics initially pointed out that PPSMI was
rolled out in a hurry because
Dr Mahathir wanted it in place
before he handed over the reins
of government to his successor
Tun Abdullah Ahmad Badawi.
The scheme saw more than
RM3 billion spent on information
technology hardware to facilitate
the teaching of mathematics and
science in English.
24 W O R L D B U S I N E S S
Beijing should
boost gold
reserves to 5%
World Gold Council
BY POL LY YA M
Buett dealmaking
gives Heinz bondholders
US$550m windfall
NEW YORK: Warren Buffetts
bid to unite HJ Heinz Co with
Kraft Foods Group Inc is proving to be a bonanza for holders
of the iconic ketchup makers
junk bonds. The market value of
Heinzs bonds surged by US$550
million (RM2.02 billion), or 7.6%,
as of 2.35pm on Wednesday in
New York, according to data
compiled by Bloomberg. With
the combined company likely
to be rated investment grade,
according to a statement from
Standard & Poors, the yields on
Heinzs bonds have dropped
closer to those on Krafts notes.
The merger of Kraft and Heinz,
which is controlled by Buffetts
Berkshire Hathaway Inc and
buyout firm 3G Capital, has been
structured without requiring any
additional debt to complete the
deal. Bloomberg
Facebook bets on
Messenger app, opens
it to developers
IN BRIEF
Chairman Jack Ma talks of building an ecosystem of connected services. But the common thread is far
from obvious. This year alone, Alibaba has invested US$590 million in a
Chinese smartphone maker, participated in a US$600 million cash injection for a Chinese taxi-hailing app,
set up a US$160 million joint venture
to develop Internet-connected cars,
and led a US$60 million investment
in a US mobile search firm.
Some transactions attributed
to Alibaba are actually channelled
through executives personal vehicles or affiliated companies. Yet the
listed groups investments are a drain
on cash: Alibaba spent US$7.5 billion
on acquisitions and minority investments in 2014 three-quarters of
its operating cash flow for the year.
Its also hard to tell how Alibabas
new ventures are faring. The companys share of its associates losses rose
Chinas Hainan
Airlines eyes 30-plane
Boeing order
SHANGHAI: Chinas Hainan Airlines said yesterday it is planning
to buy 30 Dreamliner aircraft
from US giant Boeing worth
almost US$8 billion at list prices
as it seeks to look to expand its
long-haul service. The 30 Boeing
787-9 Dreamliners are due to be
delivered before 2021, Hainan
Airlines said in a statement to the
Shanghai stock exchange, where
it is listed. The order would be
valued at US$7.7 billion based
on list prices given on Boeings
website, although airlines typically negotiate discounts. AFP
W O R L D B U S I N E S S 25
JAKARTA: Fund managers and foreign investors are bailing out of Indonesian stocks as worries grow that
a perfect storm of a sliding rupiah,
record levels of foreign debt and rising import costs could bring some
businesses to their knees.
Making matters worse, the benefits of a falling rupiah to Indonesias
Japan shows
rising frustration
with companies
sitting on cash
BY K EI I CHI YA MA MURA
Schlumberger ned
US$232.7m for breaking
Iran, Sudan sanctions
WASHINGTON: French-US oil
services giant Schlumberger
Ltd was fined US$232.7 million
(RM854.009 million) by the Justice Department on Wednesday
for violating sanctions on Iran
and Sudan. Fully owned subsidy
Schlumberger Oilfield Holdings
Ltd admitted guilt to one count of
knowingly and wilfully conspiring to violate the US International Emergency Economic Powers
Act, under which US sanctions are
applied, the department said. According to the charges, the companys Texas-based drilling and
measurements unit provided services to Iran and Sudan between
2004 and 2010 and tried to hide
the fact from authorities. AFP
A man with his child making a transaction at a Eurobank ATM in Athens, Greece.
Eurozone nance ocials told the Athens government its time to prove it can be
trusted. Photo by Reuters
IN BRIEF
Singapore savings
bonds new option for
retail investors
SINGAPORE: A new type of government bond will debut here as
part of a move to make low-cost
investment options more widely
available to retail investors, The
Straits Times reported. The Singapore Savings Bonds (SSBs) will
be launched by the government,
Senior Minister of State for Finance and Transport Josephine
Teo announced at an investment
industry event yesterday. She said
the SSB will be safe investments
that are principal-guaranteed by
the government, which means the
initial outlay is protected.
26 WORLD
Co-pilot deliberately
crashed plane: prosecutor
He was alone at the controls while the pilot was outside banging on the door
BY MA RC B U RL EIGH
& D EL PHI NE TOUITOU
Robin said
the 28-yearold co-pilot
deliberately
initiated
the planes
descent. Photo
by Reuters
IN BRIEF
Cambodia unveils
memorial at brutal
Khmer Rouge prison site
PHNOM PENH: Cambodia
unveiled a new memorial at a
notorious Khmer Rouge prison yesterday to remember the
thousands who were tortured
and murdered there during
the ruthless regimes rule in
the late 1970s. The US$90,000
(RM330,525) tribute, reminiscent of a Buddhist stupa and
paid for by the German government, was unveiled in front
of survivors of the Tuol Sleng
prison in the capital Phnom
Penh. I am satisfied and can
die peacefully after seeing
this, Chum Mey, 85, one of
the few prisoners who came
out of the notorious camp alive
told AFP after the ceremony.
AFP
14 dead in scaolding
collapse at Vietnam
steel plant
HANOI: At least 14 workers were killed and dozens
more injured after scaffolding collapsed at a steel plant
in central Vietnam, officials
said, as rescue teams yesterday searched for bodies still
trapped in the wreckage. The
labourers were building concrete blocks as part of a seawall project when the accident
took place late on Wednesday
in the coastal province of Ha
Tinh, said Le Minh Dao, office manager of the provincial Peoples Committee. We
have pulled out 12 bodies.
Two other bodies will soon
be rescued from the rubble,
Dao said. AFP
W O R L D 27
NY arrests
subway sex
oender after
online campaign
NEW YORK: A 21-year-old
woman was asleep on the
New York subway when a man
thrust his hand up her skirt
and groped her in a shocking
sexual assault.
Fellow passengers at the time
did nothing apart from the
one who filmed the assault,
footage of which wound up on
Internet porn sites.
Now, after two years and an
online campaign led by the victim, a suspect has finally been
arrested.
Elisa Lopez had initially slept
on, unaware of what was happening.
When she suddenly woke
up, she punched her attacker in
the face and ran off the train in
Midtown Manhattan. That was
Oct 20, 2012.
It was only when a friend
called to say there was a video
of her circulating online that
Lopez realised the extent of the
attack.
Unbeknown to her, a passenger had filmed the assault using
his cell phone and uploaded the
footage to the Internet, where
it appeared on YouTube, porn
sites and even the news.
I was in disbelief, Lopez
said last December. AFP
People searching
for survivors under
the rubble of houses
destroyed by an air
strike near the Sanaa
Airport yesterday.
Photo by Reuters
internal differences.
This aggression will have no result except to spread terrorism and
extremism, and increase insecurity
throughout the region, she said in a
statement, calling for an immediate
halt to the air strikes.
Huge explosions were heard in
IN BRIEF
28
live it!
FR I
Personal
ASSISTANT
COMPI L ED BY HANNAH M ER ICAN
Jod
FULL SPEED
ahead
An amazing adventure through India on a tuk-tuk
BY QUAH S U ANN
India in a vehicle that isnt remotely capable of moving any faster than 55kph
downhill.
After managing to raise the required
1,000 (RM5,468) for Cool Eartha charity that pledges to save at-risk rainforests
and shield millions of acres of neighbouring forests by empowering local people
and giving them the resources they need
to keep their forests intact Johann, Nessa and Hafiz flew to India with a pittance
in their pockets but their minds set on an
unforgettable adventure.
When they met their tuk-tuk; the auto-rickshaw that would be their trusted
companion for the next two weeks, they
cleverly christened it Appu a name
that doesnt get more Indian. With broken headlights and an engine that sim-
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FILM
BY QUAH S U ANN
The Gunman
Jodhpur, looking over the majestic Mehrangarh Fort.
30
live it!
Zen TODAY
ICONIC
MUSEUMS
adapt to mass tourism
S P O RT S 3 1
BY JOHN O B RI EN
SEPANG: Valtteri Bottas is confident that his back has fully healed
and he will be fit for the Formula One Malaysian Grand Prix this
weekend after he missed the
season-opening race in Australia
despite qualifying as the sixth fastest in his Williams.
Claiming that the pain felt like
a knife stabbing in his back on
the eve of the race, Bottas heeded
the advice of the sports governing
body not to compete in Melbourne
but was passed fit yesterday for the
second round in Sepang.
At the end of last week, I could
do something without any pain
and during the weekend I could
do some training, swimming and
cross-training without any pain,
he told reporters.
Weve been doing everything
IN BRIEF
Hamilton laughs o
Horners call for level
playing eld
SEPANG: World champion
Lewis Hamilton admitted he
was amused by Red Bull boss
Christian Horners call for Formula One to forcibly reduce his
Mercedes teams advantage. I
find it quite funny, the Briton
told reporters in Sepang yesterday ahead of the Malaysian
Grand Prix. Its only been one
race, so to already have comments after the first race is what
I find funny. Hamilton noted
that Horner made few complaints when Red Bull claimed
four constructors titles in a row
from 2010 with Sebastian
Vettel winning the world title of
each season. He said Mercedes
never voiced any displeasure
during that period. Its an interesting opinion coming from
individuals who have had so
much success, Hamilton added. Reuters
3 2 S P O RT S
High expectations as
Kane debuts for England
With 29 goals for Spurs this season, he is the Premier Leagues hottest property
BY TOM WI L L I A MS
Premier League
clubs back in
black
BY TOM WI L L I AM S
Kane (right) training with the England team at St Georges Park, Burton-upon-Trent on
Tuesday. Kane could be asked to lead the line alongside captain Rooney. Photo by Reuters
IN BRIEF
Moldovan club
suspend players for
alleged match-xing
TIRASPOL (Moldova): Moldovan
top division club Dinamo-Auto have indefinitely suspended
two players over allegations of
match-fixing, the Tiraspol-based
side said. For the management
of Dinamo-Auto, its always been
and will be important to observe
the principles of fair play, the
club, founded in 2009, said in
a statement. We condemn all
attacks on the integrity of the
game and we urge all, who care
about football, to protect it from
various negative influences and
manipulation. The Moldovan
National Anti-Corruption Agency
last week questioned 12 players
and officials following the league
match between leaders Dacia
Chisinau and Dinamo-Auto Tiraspol. Dacia won 6-2. Reuters
Khedira conrms
Real Madrid exit
KAISERSLAUTERN (Germany):
Germany midfielder Sami Khedira said he will leave Real Madrid when his contract expires at
the end of the season. There is
nothing more to say than what I
told the sports magazine (Kicker), when theres anything more,
Ill say it, the 27-year-old said
after captaining Germany to a
2-2 friendly draw with Australia
in Kaiserslautern. Having joined
Real in 2010 from Stuttgart, Khedira has been linked to Bundesliga side Schalke 04. This is not a
decision against Real, I just want
to spice up my career and evolve,
Khedira said. AFP