Unforgettable Icons: Why Princess Diana Lives On

This past month, the hottest star on the planet wasn’t Angelina Jolie or Kim Kardashian — it was Marilyn Monroe. Marilyn’s image has been everywhere this August — on magazine covers, international web sites, anniversary tributes, even in art galleries — and you’d never know from all those timeless, luscious, teasing photos of her, so vibrant and alive, that she’d have been 86 this year. But her age doesn’t matter, because we simply can’t forget her.

This week, another stunning leading lady is giving her a run for her money in the international press: Princess Diana. Since she passed away 15 years ago, Diana has remained our eternal “People’s Princess” — and she continues to be an object of fascination. Ever glamorous, ever vulnerable, still beloved — even as the world has changed around us — she remains forever alive in our collective memory.

What is it about these icons that make them so unforgettable? And why do some stars fade away, while others continue to burn brightly long after they leave us? Is it only when they die young? Is it more about their accomplishments? Is it simply photography? Or is there some inherent quality that makes them eminently watchable — a vulnerability of some kind that allows us to feel close to them, even from a distance?

I think icons are unforgettable because they — in some way — remain unmatched by their predecessors and those who follow. For some, it really is about extraordinary talent, accomplishment and vision. Others break down walls and change perceptions through their art or their actions. And some — through their achievements or their personal stories — come to symbolize a period in time or a cultural movement that had an impact.

But whatever their singular story, we collectively recognize them in an instant. We feel like we know them; and regardless of whether they died young or lived long, they left something special behind — something that still fascinates and holds our attention long after they have gone.

As her brother noted at her funeral, Diana Spencer “was the very essence of compassion, of duty, of style, of beauty…she needed no royal title to continue to generate her particular brand of magic.” Fifteen years later, she remains that way in our memory — as the people’s princess, a loving mother, a sensitive soul, forever young and vital.

Source : Huffington Post

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EPF’s investment creates fresh competition

THE entry of the Employees Provident Fund (EPF) as a big investor in real estate will create more challenges for the sector, said Country Heights Holdings Bhd founder Tan Sri Lee Kim Yew.

“With the recent land acquisition in Sungai Buloh, the EPF is going to be one of the biggest developers here. There is also competition from boutique developers and government agencies that have embarked on property development,” Lee said.

The EPF’s wholly-owned unit, Kwasa Land Sdn Bhd, has acquired 932ha of Rubber Research Institute (RRI) land in Sungai Buloh from the Malaysian Rubber Board for RM2.3 billion.

Lee said other challenges faced by the industry included inconsistent government policies by both federal and state governments.

 

He also said the building of low-cost houses is creating a slump in the market place and does not fulfil the requirement of a quality lifestyle.

Since the 1980s, developers are required to build low-cost houses priced RM42,000 a unit and below. But rising cost of raw materials is causing them to lose money from each house built and the take up by the lower income group has been slow.

The issue has been raised numerous times by the Real Estate And Housing Developers’ Association (Rehda), which comprises more than 1,000 members, for several years now.

“Developers are also at the mercy of bankers. I don’t think the property market can be sustained like this, unless the government does something soon. Local developers are capable of building healthy properties to avoid a property bubble here,” Lee said yesterday at the 15th National Housing and Property Summit 2012.

Rehda president Datuk Seri Michael Yam added that there should be a shift from low-cost hou-sing to affordable homes.

He said there is a lot of demand for properties priced between RM150,000 and RM300,000 and Rehda is appealing to the government to study the current market demand and situation.

Rehda is urging the government to freeze imposition of policies, guidelines and laws that add to the cost of development.

“We also hope the government will free up more land that they own for development. The government should consider developing Malay reserve land and building properties over existing infrastructure,” Yam said.

Glomac Bhd group managing director and chief executive officer Datuk Fateh Iskandar Mohamed feels that the property market will face new challenges going forward.

“Banks are still overzealous in end financing. The cost of doing business has also shown an increase in compliance cost, which is now about 30 per cent of total construction expenditure, not related to enhancement of property,” he said.

Source : Business Times

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No property bubble in M’sia; Sunway chairman says local prices affordable

PETALING JAYA: The local property industry continues to face many obstacles despite signs of steady economic growth, which was announced recently for the second quarter and the first-half, underpinned among other factors by a jump in construction activity as well as healthy consumption.

Among the challenges the industry faces, according to Asian Strategy & Leadership Institute chairman Tan Sri Jeffrey Cheah, is the market perception that the industry is heading towards a property bubble, which is not backed by reasonable evidence.

“As a developer I’m convinced as of now that we shall not be experiencing any such property bubble, as our property prices are still affordable compared with some of our neighbouring cities in the region,” Cheah, also Sunway Bhd chairman, said at an address during the launch of the 15th National Housing and Property Summit.

He cited Bank Negara’s second-quarter gross domestic product data which indicated a 5.4% year-on-year growth despite external challenges as signs that private consumption remained steady. Central bank data showed the construction sector, which includes housing and civil infrastructure activity, surging 22%.

<B>Great stuff:</B> (From left) Land & General Bhd MD Low Gay Teck, PKNS GM Othman Omar, Asli CEO Tan Sri Michael Yeoh, Housing and Local Government Minister Datuk Seri Chor Chee Heung and Cheah looking at a project model.
Great stuff: (From left) Land & General Bhd MD Low Gay Teck, PKNS GM Othman Omar, Asli CEO Tan Sri Michael Yeoh, Housing and Local Government Minister Datuk Seri Chor Chee Heung and Cheah looking at a project model.

 

Cheah said it was also untrue that property prices were being driven up due to foreigners’ purchases in the country as transactions by foreigners had historically hovered at 3% compared with 20% in Singapore.

He added that 54% of total residential transactions in 2011 were below the RM150,000 range.

Cheah said the other challenge the industry faced was the lack of skilled workers, which caused delays in the completion of projects. He said it was important for the Construction Industry Development Board to continue engaging with both industry players and non-governmental organisations to address this issue in order to improve the quality of finished projects.

Cheah said there needed to be combined efforts by the Government and industry players to address these issues as well as come up with strategies to overcome them.

He urged the Government not to take “too drastic measures” to cool the property market as this “can kill market sentiment and slow supply of housing further.”

“The Government should not in-crease the real property gains tax. I also hope it will not further restrict lending to the property sector or introduce new measures that will make it more difficult for house buyers to purchase properties,” Cheah said.

He also stressed the sustainability of the industry, which would be important to ensure continued buoyant economic growth and resilience.

Meanwhile, Housing and Local Government Minister Datuk Seri Chor Chee Heung said new fiscal policies might be introduced in Budget 2013, as current measures taken to control house prices had not been very effective.

Despite the Government’s measures to curb the rise in house prices, such as the increase in RPGT and a restriction on loan-to-value ratios on third properties and above, there were feelings that the Government has not done enough.

“I will be recommending a review of fiscal policies in the next budget,” Chor said.

Cheah’s remarks on the property bubble continue to divide analysts who closely follow the industry with Kenanga Investment Bank research head Chan Ken Yew pointing out that a bubble might exist to a certain extant as prices continued to be above what younger workers were able to afford.

“This is because their salary can’t catch up with the current house prices. This problem is not only evident in Malaysia but also in Hong Kong and Singapore,” he said.

Increasing the Employees Provident Fund’s (EPF) withdrawal rate to be utilised for the down payment of a member’s first home could solve this problem, he added. Currently, the EPF allows for a 30% withdrawal from Account 2. “If the Government allows for a 50% withdrawal, this would help to lower the burden,” he said.

 

Source : The Star

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Condos control foreign student tenants

The issue of foreigners “infiltrating” condos and neighbourhoods recently came to a high point when officers from the Immigration Department and Home Ministry raided apartments in Puchong, instigating some Africans to escape through the roof.

In Kota Damansara, meanwhile, owners in a high-density condo recently came together to ban foreign student tenants. “Owners shall not rent their property unit to any foreigner, particularly students, with immediate effect,” said a notice circulated to owners as well as estate agents a couple of months back. The joint management body (JMB) issued specially colour coded access cards to foreigners and students too.

As with the raids on the Puchong apartments, these actions were the results of several complaints from fellow residents.

“At the JMB level, we received many complaints against foreign students,” explains a committee member for the Kota Damansara condo. “We couldn’t make the decision ourselves, so we put it to the floor. One owner here who had such tenants objected. But the rest told her that she didn’t live here and didn’t know the issues we went through.”

Foreign students in the condo are often accused of making loud noises at night, fighting, damaging common property, and having general disrespect for authority (as represented by the guards and management).

“By 10pm, these foreign students group together and hang around outside the mini market drinking beer,” says the committee chairman who declines to be named.

“One of them even tried extorting money from an owner,” exclaims the first committee member. “Luckily the victim managed to walk away.” Foreign students committing crimes, including those involving drugs, have also been reported to the management. The recent murder of estate agent Tang Yong Ching, for which two Pakistanis holding student visas were detained by the police, was in fact linked to this condominium.

“This is good news,” says Debbie who owns a unit here. “There have been quite a few break-ins, and as a single female who just comes back from work and goes to work, that’s at least one thing that we don’t have to worry about. The guards are good, but security internally is otherwise not contained.” Message boards are also ringing with approval, purportedly by unit owners, over this ban.

Neighbour’s headache, investor’s darling An upmarket condo in Tropicana also screens foreign tenants as part of its procedures. “We ask the agents to provide a copy of their passports after they sign the tenancy agreement,” says the condo manager. “We then call their respective embassies to find out if this person is genuine, and what visa he or she is on. If it’s a student, we ask for a copy of the person’s student card.”

Besides students from African nations, he is, for example, vigilant about Iranian nationals who have been linked to incidents of drug crime in this country.

Questioned on how students can even afford these apartments (monthly rentals average at RM2,300), the manager responds that several have scholarships with generous accommodation allowances. Mentioning a few African countries, he says they may range from RM2,000 to RM7,000 per month.

Foreign students offer higher rentals and pay up to six months in advance, concurs the Kota Damansara condo’s JMB chairman. “That’s why a few agents stubbornly continue renting to foreigners. They think they can bring in more money.” The sources for their income are looked upon skeptically by this condo’s committee members, however, as well as their true occupations. “They’re sleeping in the whole day and doing other things at night,” adds a committee member. “Which college is going to stay open at night? They’re also prepared to pay cash six months ahead. Which students can afford that kind of money? Some of them look old enough to be working.”

“If they’re genuine students, how can they afford to have a car?” queries the chairman. “They’re not cheap cars either, like Hondas or even a Mercedes.”

Is it legal? In the process of researching this article, several users on internet forums have come forward to say that their condos, or condos they have heard of in Puchong, are implementing similar bans.

“We don’t have discrimination laws, and if it is enforced through by-laws which are passed through a proper AGM or EGM, nothing says it cannot be done,” says property lawyer Khairul Anuar. “There are provisions to repeal it through the Strata Titles Board or the Commissioner of Buildings, however, and if someone really wants to make a stand, it can be done through the courts in Malaysia.”

Even though this ban has entered into the Kota Damansara condo’s house rules, its chairman admits that the management cannot truly force owners to stop renting out to foreign students. Besides issuing circulars, and frustrating misbehaving tenants with extra checks, observation of the ban has to ultimately be voluntary.

In fact, a walk around the condo’s compound reveals several foreigners still living here. “The situation has improved slightly however,” says the chairman with hope. “And I can see the numbers reducing.”

In the meantime, the chairman has received phone calls from at least one embassy, complaining of the condo’s policy being racist. “The embassy called me and asked us, ‘Why are you doing this to us?’”

It would be difficult, indeed, to avoid such bans being called discriminatory. The manager of the Tropicana condo, for example, believes that, no matter how convenient it may be to specifically ban foreign students, such a policy would be too hasty.

After all, the student he managed to catch breaking into a neighbour’s apartment red-handed turned out not to be a foreigner but, in fact, a local student studying at a nearby college.

“Perhaps screening is a better idea,” agrees condo resident Tang Li Ping. “But it doesn’t have to be done by just the management company or committee. Malaysians should get out of their tempurung and speak to their neighbours more. That way, we’ll know the good as well as the bad. After all, isn’t that what communal living is all about?”

 

Source : The Sun Daily

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Own-goal spares Liverpool Euro blushes

EDINBURGH: A makeshift Liverpool side needed a late own goal to secure a narrow 1-0 win over Scottish Premier League Hearts in their Europa League play-off round first leg match at Tynecastle on Thursday.

Liverpool rested several first team stars for the match with the weekend’s clash against English champions Manchester City in mind but Brendan Rodgers was still able to field a side with seven internationals.

However, they struggled to contain the home side in the early stages although Liverpool striker Fabio Borini came closest to scoring when he sent a shot off the post on the stroke of half-time.

Hearts’ Scottish defender Andy Webster (centre) scores an own goal during the Europa League qualifying play-off round first leg football match between Hearts of Midlothian and Liverpool at the Tynecastle Stadium in Edinburgh, Scotland on August 23, 2012. – AFP

Just as Liverpool looked to have run out of ideas they made the breakthrough in the 78th minute when Andy Webster turned Martin Kelly’s excellent cross past his own keeper to hand the visitors a slim advantage heading into next week’s return at Anfield.

“It was a great win and a difficult match for us,” said Rodgers.

“We had a problem first half with our positioning but then in the second half I thought our management of the game was much better. We kept possession better and obviously stayed patient and the goal came from a very good move.”

Despite the defeat the performance will help Hearts bury the memory of the 5-0 hammering they took from Tottenham at the same stage of the competition last year.

Hearts manager John McGlynn took pride in defeat.

“I think there were a load of positives to take out of that match as there were still a lot of good Liverpool players on the park,” he said.

“Our guys have done exceptionally well tonight and I felt the least they deserved was a draw. I think it was hard on us to lose.”

Liverpool made seven changes to the side that lost to West Brom at the weekend with Steven Gerrard, Glen Johnson, Luis Suarez and Martin Skrtel rested while Andy Carroll missed out with a hamstring strain.

Captain Marius Zaliukas passed a late fitness test for Hearts while Jamie MacDonald kept his place in goal following the birth of his daughter on Wednesday.

The home side made a lively start and were presented with an early chance when John Sutton nearly pounced on a short back pass from Liverpool skipper Jamie Carragher but Pepe Reina was out of his box quickly to clear the danger.

Liverpool’s Scotland international Charlie Adam then carried the ball forward from the half-way line before testing MacDonald with a low drive.

Mehdi Taouil showed some lovely skill to get away from Jack Robinson before lining up Arvydas Novikovas for a rising drive from 30 yards which Reina did well to turn over the bar.

David Templeton became the next Hearts player to threaten as he drove in on goal from the left and sent his angled shot just over.

Liverpool were on the back foot but carved out a chance in the 34th minute when Jordan Henderson’s floated pass found Borini unmarked in the box but he fluffed his attempted volley.

The English giants should have taken the lead right on the stroke of half-time when Raheem Sterling intercepted a cross-field pass from Taouil and played in Borini but the striker sent his shot crashing off the base of the post.

At the start of the second half, Adam made some space for himself inside the Hearts’ half before sending a right-foot shot wide while, at the other end, Novikovas let fly with a fierce strike that sailed over the bar from 20 yards.

Hearts looked the likelier to score but with 12 minutes remaining the home side found themselves behind through Webster’s own goal.

Kelly whipped in a ferocious cross from the right and the unfortunate defender knocked the ball past MacDonald from five yards out under pressure from Borini.

The home side came close to an equaliser in the 90th minute when Reina had to dive low to his right to stop teenager Callum Paterson’s stinging drive from sneaking in. – AFP

 

Source by: The Star

 

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Modern Houses in Thailand

“My definition of ‘Thai House’ is simply ‘houses built in Thailand’ regardless of whether they are designed by Thai architects and/or for Thai clients,” responded author Robert Powell when queried about his selection of properties for his new book, The Modern Thai House.

This writer had pointed out to the author that it appears incongruous to have a book title like that and yet feature foreign architects in Thailand whose clients may or may not necessarily be Thai.

Initially flummoxed by my question at a lunch meeting to discuss the book, Powell was given the opportunity to think hard about the question before responding.

An impressive coffee-table book by any measure, the 224 pages feature 25 properties highlighting the creative work of mainly Thai architects and Thai owners with the exception of German-born, British architect Stefan Schlau; Singapore-based “Argentinean” (sic) architect Ernesto Bedmar and Kuala Lumpur-based British architect John Bulcock. The latter’s clients are not Thai either.

 

From left to right: - House Jang is a 4½–storey tall family home with a built-up of 340sq m on a 160sq m site, owned by Radja Smutkojon and his wife Ravee Purananda. - DKFF House is owned by British-born Canadian, Frank Flatters, and his Thai wife, Duangkamol Chotana. - Retired, septuagenarian architect Sumet Jumsai’s studio is a marvellous Le Corbusier-inspired weekend residence and painting studio.

 

Xenophobic  Addressing the issue, Powell replied in an e-mail: “I ask myself what criteria I would apply if I were writing about British architecture and I would not exclude buildings by say, Rem Koolhaas or Renzo Piano, or buildings that were commissioned by Sime Darby or the Qatar Royal family. They would still come under the heading ‘British’.

“I know that some critics might argue that a Thai House can only be designed by a Thai but that seems like a desire to protect the local profession and a fear of foreign architects.

“That said 80% of the houses I have featured are designed by Thai architects and are commissioned by Thai owners.”

Having gotten that answer, the next question arises, as to how would Powell define, “modern” in context of the book title?

“I define modern as simply being of ‘now’ – completed in the last five to 10 years. I am not referring to a style but simply being of the current era. There are a variety of modern expressions in response to the influence of globalisation, the Internet, traditional values, etc.,” replied the prolific author, who has 30 books related to architecture to his name, including The New Malaysian House.

 

Robert Powell is currently project director and head of Ecomasterplanning with Llewelyn Davies Yeang (London).

 

Professor  Currently, Powell is project director and head of “Ecomasterplanning” with Llewelyn Davies Yeang (London). He is working on several projects with distinguished Malaysian architect Ken Yeang in various countries. Not only is Powell a practising architect and writer but he was formerly associate professor of architecture at the National University of Singapore (NUS).

His association with Thai houses dates back to 1984 when he was with NUS and got acquainted with his then colleague Mathar “Lek” Bunnag, a Thai architect who graduated from Harvard University. With Bunnag’s help, Powell backpacked through Thailand in September of that year. By the early1990s, Powell was commissioned by Select Books to write The Asian House (1993). He included five houses from Thailand. More Thai houses were included in his subsequent books, namely, The Tropical Asian House (1996), The Urban Asian House (1998) and The New Asian House (2001). Altogether, the 16 Thai houses featured in those books were compiled into a single volume, The New Thai House (2003) with four additional houses.

“The twenty houses were together a condensed summary of the development of the modern Thai house from 1980 to 2002,” stated Powell in the introduction to his latest book.

“Fast forward ten years to the current publication – The Modern Thai House. In 2010, I assembled a list of houses, initially seeking advice from the architects whose work appeared in previous books, and in April 2011, I embarked on an extensive journey with photographer Albert Lim KS to visit some forty houses that we had identified.”

Thai credit  By necessity, that figure was whittled down to 25 properties. Out of the 22 houses by Thai architects, one of them – Aroon Puritat – worked in association with Neil Logan, an American architect and a friend of the property owner.

With a title like that, the average coffee-table book reader would be expecting to see the ultimate creativity of Thai architects – a talent that is pure and unfettered by the dictates of foreign “consultants”.

In this book, the author seems to have a fondness for certain architects. For instance, Boonlert Hemvijitraphan as well as Duangrit Bunnag, each has three houses to their credit. And with two houses to their names, are:

  • Kanika R’Kul (Spacetime Architects)
  • Vasu Virajslip & Boonlert Deeyuen
  • Khwanchai Suthamsao & Tanit Choomsang
  • Pirast Pacharaswate

Rounding up the list of Thai architects featured, are:

  • Srisak Phattanawasin
  • Bundit Kanisthakhon
  • Somchai Jongsaeng
  • Sumet Jumsai
  • Pattawadee Roogrojdee & Apichat Sriarun
  • Surachai Akekapobyotin & Juthathip Techachumreon
  • Ponlawat Buasari & Songsuda Adhibai

 

The Trop V House (left)  is designed by Pirast Pacharaswate, an assistant professor of architecture at Chulalongkorn University. Designed by Pirast Pacharaswate, the Open House II (right) reflects a strong formal design arranged around a black swimming pool in a central courtyard. A long raking staircase ascends alongside the pool.

 

What’s so Thai? On the issue of foreign architects like Schlau, Bedmar and Bulcock, designing a “modern Thai house’, it begs the question, what is so “Thai” about their work, other than being located in Thailand? The author offers a rebuttal.

“The question assumes there is a distinct Thai ‘style’. But what would this be? A traditional timber house with pitched roof, inward sloping walls and external verandah’s?

“That is certainly the image that is perpetuated in the houses of Bill Bensley, for example, Camp Howie but is that what the modern Thai client wants?

“I think not – I think the wealthy Thai clients who commissioned the houses in the book were often educated in the US or Europe and share images of modern house with their architects, the majority of whom have also been educated in the US or UK.

“Bedmar and Bulcock have both lived for many years in the tropics and designed houses that are fitted to the location, the topography and the tropical climate. They are simply intelligent responses to the place.”

Distinct difference?  Be that as it may, is there a distinct difference between the modern houses of Thailand compared to Malaysia, or perhaps, Singapore?

“To date, I have not analysed sufficiently the houses of the countries of South-East Asia to identify the distinct differences,” answered Powell.

“I am sure there are subtle differences related to the different cultures of these countries, to the religious beliefs (Muslim/Christian/Buddhist, etc.,) to the place of women in society, to colonial heritage (British/Spanish/Dutch influences) etc., as well as the degree of penetration of global culture.

“Perhaps, I will do this after I have completed my next book on The Modern Philippine House. It could be the subject of a PhD thesis!!”

And among the 25 houses in the book, which are the houses that Powell are most impressed with?

 

 Designed by KL-based British architect John Bulcock, Dama zAmya (left ) is the home of professional photographer Gary Dublanko and his wife, Dea Zoffman. The Aurapin House (right) is designed by Boonlert Hemvijitraphan together with his wife for their own family.

 

“I love the Soi Wat Umong House (page 152) for its openness to nature, spatial qualities and the obvious thought that has gone into every nuance.

“I enjoy Serenity (page 100) for its cool, clean geometry and incredible views of the ocean.

“And I like the Harirak House (page 54) for its warm colours, timber shutters and clay tile floors.

“But actually it is unfair for me to highlight just three for I am impressed by all the houses – otherwise they would not be in the book.”

If you are intrigued by modern Thai architecture and those who have contributed to its development, then this book is essential to your library. Whether are a critic of modern architecture or just love looking at pictures of “interesting” homes then this book offers a ready reference.

Is there a common or distinct style to “Modern Thai” houses? Except for one or two specimens, it is rather hard to tell from the rest but the selected homes sure are stylish and expensive looking whatever the material used. Comfortable and practical? That’s two other questions that only the owners can answer.

 

Source by: The Star Property

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Kenanga expects Sime to post record earnings for FY2012

This is in line with the RM4 billion consensus estimate, it said.

Sime Darby will release its 2012 financial year earnings results on August 29.

“We expect the year-on-year core earnings growth to be decent at about four per cent, mainly driven by the 30 per cent earnings before interest and tax growth in its industrial segment to RM1.36 billion,” Kenanga Research said.

Strong demand in mining, logging and construction sectors in Malaysia, Singapore and Australasia has also boosted its earnings, it said in a research note.

The research house said the plantation division earnings should be flattish in 2012 financial year as the higher crude palm oil prices fetched would be offsetted by the overall three per cent decline in fresh fruit bunches to 9.76 million tonnes.

“We believe the likely final dividend that will be announced would be eight per cent higher year-on-year against last year’s 22 sen final dividend, in line with the improved earnings.

“Combined with the interim 10 sen net dividend announced earlier in end-February, we expect 2012 financial year earnings total net dividend of 33.8 sen, implying a decent net dividend yield of 4.2 per cent,” the research firm added.

Kenanga Research expects a 50 per cent payout ratio, in line with Sime Darby’s historical practice to pay out a minimum 50 per cent of its earnings.

Kenanga Research’s target price for Sime Darby is RM10.30. Bernama

 

Source by: Business Times

Picture by: freemalaysiatoday

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Astro to offer upto 1.52b shares in IPO

The IPO, expected to list by end-September, comes after high-profile share sales by planter Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.

Astro, controlled by tycoon T. Ananda Krishnan, said the offer represents up to 29.2 per cent of its enlarged paid-up capital, of which 597.69 million shares or 11.5 per cent will be offered to Bumiputra investors, confirming what a source with direct knowledge of the matter told Reuters last week.

Another 661.75 million shares or 12.7 per cent will be allocated to other institutional and selected investors, while 259.865 million shares or 5 per cent will be offered to retail investors, Astro said.

Reuters reported last week that the IPO shares for Bumiputra investors would be based on an indicative price of RM3.60 apiece, valuing the Bumiputra tranche around US$700 million.

Based on that indicative price, the total 1.52 billion shares offered will be worth about US$1.75 billion.

The company has given no information on pricing of the shares, and an initial draft prospectus released on August 8 did not provide any details on the size of the listing or a timeframe for the IPO process.

A separate source with knowledge of the deal said last week that cornerstone investors were likely to be offered a price similar to the Bumiputra.

Astro’s draft prospectus said it would use 58 percent of the proceeds for capital expenditure – ranging from investments in new corporate and technical buildings to additional transponders – while the remainder would be used to repay bank borrowings, for working capital and for listing expenses.

Astro hired CIMB as the transaction manager for the listing. Joint principal advisers are CIMB, Maybank and RHB, according to the prospectus. Reuters

 

Source by: Business Times

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Maxis expected to announce dividends, shares rise

KUALA LUMPUR: Maxis Bhd‘s share price has been rising in the run-up to the company’s announcement of its second-quarter results ended June 30 as institutional funds and retail investors expected a dividend announcement.

Maxis has been paying dividends every quarter in the past year despite the the onslaught of the eurozone debt crisis.

In the last year including the first quarter, Maxis had never failed to disappoint investors and had been paying mean indicative dividends totalling 9.6 sen per quarter or an annual average of about 38 sen.

TA Research’s telco analyst Kylie Chan told StarBiz that Maxis had been “very regular” in dividend payouts and she expected a payout of 40 sen per share in this current financial year ending Dec 31.

Maxis has never failed to disappoint investors and has been paying dividends

However, Chan said that Maxis’ earnings before interest, taxes, depreciation, and amortisation could see “a slight contraction.”

“Everything else is expected to be status quo. I also expect Maxis to see an increase in the number of subscribers in its broadband segment of between 6,000 and 7,000 from 5,000 presently. This broadband segment is the focus of the excitement for investors moving forward as it is a potential growth area,” said Chan.

Hong Leong Investment Bank (HLIB) analyst said that Maxis’ second quarter earnings were expected to be quite flat and would be “nothing to shout about.”

“However, revenues could surprise on the upside should the price war in the International Direct Dialing segment favoured them. This will mostly have a positive impact on the prepaid segment but not in the postpaid side. Moving forward, data revenue will compensate for the reduction in voice revenues,” the HLIB analyst said.

“I also expect phone subsidies to be less this time around. Samsungphones are cheaper than the iPhones and iPhone sales are seen to be subdued presently. Maxis has also been regular with its dividend payouts and I expect this to continue in the coming quarter,” the analyst added.

HLIB’s recent note to investors had estimated that full year revenues would be at RM8.92bil with net profits at RM2.33bil.

Menwhile, Maybank Investment Bank head of retail research for the equity markets Lee Cheng Hooi said that technicals show Maxis was still on an uptrend on the weekly and monthly price trend basis.

Lee had a conservative target price range of RM7.25 to RM7.35 while in the longer term he had a target of RM7.75.

 

Source by: The Star

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Finale of Desperate Housewives

The ladies of Desperate Housewives put their best (manicured) foot forward in last night’s finale.

I could hardly breathe.

The street before me seemed narrower than I had imagined. The houses along it stood hunched, as if weighed down by secrets they had been carrying for years.

The lawns, lush and green, and the flower beds in full bloom, rustled as a cool wind swept through, making a hissing noise that sounded as though a murmur of rumours was travelling across the neighbourhood.

I couldn’t believe my eyes … I was actually on Wisteria Lane.

Job well done: (From left) Lynette (Felicity Huffman), Gabby (Eva Longoria), Susan (Teri Hatcher) and Bree (Marcia Cross) have every reason to toast each other after a successful eightyear run as the ladies of Desperate Housewives.Job well done: (From left) Lynette (Felicity Huffman), Gabby (Eva Longoria), Susan (Teri Hatcher) and Bree (Marcia Cross) have every reason to toast each other after a successful eightyear run as the ladies of Desperate Housewives.

A few months back, this writer had the opportunity to visit the fictional street that became home to four of the world’s favourite on-screen housewives.

As the tour guide announced we were approaching the famous street, I realised how much Desperate Housewives meant to its viewers when the entire tramful of passengers gasped (OK, it so happened the tram was filled with a bunch of stay-at-home mums).

Cameras clicked incessantly, passengers nudged each other excitedly and pointed in delight to the homes of their most cherished housewives.

How could four ordinary suburban housewives elicit such a rousing response? Even the set of War Of The Worlds where the wreckage of a Boeing 747 laid magnificently before us didn’t so much as raise a few eyebrows.

But no matter the cause behind our fascination, we faced a rude awakening last night when the curtain came down on the series for good.

If you were watching the show with tear-filled eyes and could barely fathom what happened, here’s a rundown and a review of the finale.

Love lost … and found

I think many of us heaved a sigh of relief when Lynette reunited with her husband Tom. But frankly, I didn’t care if they got back together or not. I just wanted Tom to get rid of Jane!

Nevertheless, it’s great to see the couple make it through so many of life’s storms together – cancer, unemployment, tornado – as if sending out a message to today’s divorce-prone society that marriages can last.

Lynette delivered an especially poignant speech at Ben and Renee’s wedding, encouraging couples who are finding their marriage in a lull: “That hole in your heart that you’re trying to fill is already filled … you just forgot.”

Bree-the easy

Phew! I’m so glad Bree was freed. Her acquittal came when Karen took the blame for the murder but because of her illness, the court dropped all the charges.

I was also happy to find Bree venturing into politics – I was getting tired of her perfect housewife fascade – becoming a member of the Kentucky state legislature.

What I felt a bit peeved about was her relationship with Trip. Judging from her past relationships, we all know it’s not going to work out.

One for the team

As much as I love Gabby, I wouldn’t want her as a friend. The crafty housewife always finds a way to run away from her responsibilities.

This is especially true when she didn’t even feel a tinge of guilt for allowing Bree to take the blame for a crime her husband committed.

Thankfully, she came to her senses. But instead of coming clean about Carlos, she decided to take the blame for Alejandro’s death instead, arguing that the jury would take pity on her as she was abused by her stepfather.

Creator Marc Cherry made the right move in drawing our atten-tion to her sacrificial gesture, as the housewife had always been morally ambiguous.

It’s a girl

Of all the housewives, I was the least pleased with Susan’s ending. She became a proud grandmother when Julie delivered a baby girl.

Along with M.J., they moved to another neighbourhood and she took on the role of grandma-cum-nanny. And that’s it. I was expecting Susan to get some closure with Mike’s death. Something along the lines of meeting a new lover that happens to be a … plumber?

One last drive

Cherry once said that he had the closing scene in mind all along. That got me so excited that I even thought of a few possible endings.

In my mind, Bree would hold a shotgun to her head and pull the trigger exactly the same way Mary Alice did in the pilot, to bring the series full circle. That ending would be perfect as Bree had received the same blackmail note and had she been found guilty, she’d rather be dead than be seen in a tacky orange jumpsuit.

The actual ending was sweet, but a bit of a letdown. Susan turned to Julie and M.J. and asked, “Do you guys mind if I take one last spin around the block?”

As she drove down Wisteria Lane, ghosts of people who used to live there such as Paul Young, Mike Delfino, Mary Alice and many more appeared. Then a new neighbour, Jennifer, moved in and hid a mysterious box in the cabinet, suggesting that the street will continue to reek of dark secrets and mysteries.

 

Source by: The Star

Picture by: divabetic

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