March 12, 2012

Where are you Driving YTL Corp?


Francis Yeoh has God on his side.

I believe he knows what he is doing.


Apart from amassing shares for the coffers of the Treasury from the recent wanton sell-out by EPF and the potential glut of weak sellers who converted from the now de-registered YTL Cement counter running amok,what is up in his sleeves?

Like the recent KL floods, YTL Corp shares were massively being sold down below RM1.65 by these mean EPF chaps.

Fortunately, strong buying support pushed the price up 5 sen to RM1.71 at noon today.

There must be something in the air. Otherwise RHB IB would not venture to give a top price of RM2.00 for YTL Corp.

I am very sure after the one to five share split,the absorption of YTL Cement shares from the market and the sale of its hospitality assets to STAREIT, Francis has become more focused and must have something special to grow YTL further.

Along with close to RM 13 billion of liquid cash in the vaults of YTL Corp, something is bound to happen.

What is it?

Transgenders in the Sky!


This must be the first time I have formally heard of the hiring of transgenders as flight attendants.

That it has occurred in Thailand aboard PC Air is no wonder, knowing that Thailand is a very open society, tolerant of transgenders.

They are no longer considered as queers and force to closet themselves. Just hear the momentous applaud when Bell Nuntita, a gorgeous transgender belted out in song in the Thailand Has Talent contest.


From Patthaya to Phuket, through such beauty contests like Miss Tiffany, transgenders are considered as normal people and can do as they like without aspersions being cast upon them. Given that most Thais are Buddhists and in a liberating globalised world, their forgiving and accepting nature is now well-known.

Let us together read some excepts of a news report for The SunDaily.

"Aboard flight GT210 on March 12; with her crisp uniform, immaculate makeup and hair swept up, Mew looks like any other air hostess, but she's one of a handful of Thai transsexuals blazing a trail in the skies.


Thailand-based carrier PC Air has now hired four transgender cabin crew in a highly publicised recruitment drive that has divided opinion over whether the move is in the spirit of equality or exploitation.

"I like a job where I can show my ability and I love to wear beautiful suits," said Phuntakarn Sringern, better known by her nickname Mew, embarking Friday on the airline's first commercial flight from Bangkok to Hong Kong.

"This is just like my dream come true, and maybe this is a first step for transladies, transgenders, to have a good job in the future," the 25-year-old said.

In their neat black uniform and fiery orange scarves, Mew and her colleagues ushered passengers to their seats, demonstrated safety features and filled coffee cups -- offering little indication that they were any different from the other air hostesses on the flight.

Some passengers, perhaps having seen PC Air's advertising, asked the transsexual cabin crew to pose for pictures with them, but many seemed unaware there was anything unusual about the flight attendants.

"Oh, I did not hear before about it," said Bay, a Thai passenger. "They look really beautiful, and they are really nice... it's pretty cool."

Thailand has a culture of tolerance on issues of sexual orientation and gender, and "katoeys", as transsexuals are known in the kingdom, are considered a "third sex" in their own right.

In spite of this, more conservative elements of society find it hard to accept, with some families sending their children to monasteries to be "re-educated" and transsexuals struggling to find work in many areas.

"In my heart, I always want to be a flight attendant but I was waiting for an opportunity," said air hostess Chayathisa Nakmai, aged 24. But until now "every airline is open only for men and women, transgender is not accepted".

PC Air's initiative is being welcomed by some activists, who applaud its efforts to offer a chance of ordinary work to transgender people.

The company "helps promote a positive image of Thai transsexuals, beyond certain stereotypes", said transgender advocate Prempreeda Pramoj Na Ayutthaya. But others are sceptical about the motives of the company, which has actively sought to publicise its recruitment drive.

"They use the zany, outrageous, bizarre side of transsexuals," said Yollada Krerkkong Suanyot, president of Thailand's TransFemale Association of Thailand.

"This emphasises the way that society has regarded these people as if they were strange, special, bizarre. Come see them, these are stewardesses!".

Buddhist Thailand is spared from the "weight of the Judeo-Christian sexual repression", but had in the past been influenced by some Western ideas that presented transsexuals as "mentally disordered", said Sam Winter, a psychologist and gender specialist at the University of Hong Kong.

The result is "a practical and bureaucratic intolerance" towards a group of nearly 180,000 people, he says.

With few avenues for employment, growing numbers of Thai transsexuals are moving into sex work as a way to make money and for a "rare chance to affirm their identity as women", said Winter.

Despite their sex change operation, the law does not recognise Mew, and her transsexual colleagues as women -- a situation that forces PC Air to contact the destination country in advance, to avoid trouble at immigration gates.

PC Air currently has three planes and will operate charter flights from Bangkok to Hong Kong and other Asian destinations.

The company's boss Peter Chan, who lent his initials to the airline, is proud of being a "pioneer".

He denies any intention to use the transsexual crews as a marketing ploy and highlights reasons of the "heart" and "human rights" to justify the policy.

"It was never about money," the eccentric 48-year-old told AFP, before embarking on a rendition of "My Way" by Frank Sinatra as if to prove his point.

The slogan is also painted on the company's aircraft: "I believe it's 'my way'".

Mew, who had sex change surgery two years ago, is now hoping that others will follow in the company's footsteps, in the air and elsewhere.

"Maybe in the future," she said, "all transladies, all transgenders could get a job like a flight attendant or be prime minister." – AFP"

I think Peter is right here.

After the Selling is Done


The market doesn't go up in a straight line as the arrow flies.

However it can just collapsed sharply as if it has no legs when it fell.


Apart from the continuing Greek issue where its best paying bond issue has yet to get buying traction, the action on Bursa KL is at home.

The devil at work is none other that that juggernaut, EPF which had been feverishly down-loading its blue-chip holdings thus bringing the market down.

I do hope there was no panic selling among retailers because most times, you may have to take your losses when that stock you sold rebounds! Trust me, my experience in this has been bitter. Big boys always win!

Now that the market has stabilised to an even keel, I believe that the bulk of the kamikaze action is about over.


When prices for stocks like Telekoms Malaysia(TM)and Petronas Chemical (PChem)has breached the 15 sen free fall, buyers will come in whether they be local institutions, retailers and smart-foreign funds. It is like the physical law of 'water finds its own level'.

For those with have handy cash, grab some TM, Genting Berhad, Public Bank, Hong Leong Bank,Sime Darby, YTL Corp and PChem before they rebound.

EPF-Killing the market softly with its song?


The dumping of shares recklessly on the local equities market by a supra player such as the EPF is of a major concern. Their action will surely cause the index to fall because they are the long term buyer and holders of blue chips.

Lately, they have been selling because they are investing particularly in properties in UK and elsewhere.

On 7 March alone, they shockingly disposed off more than 83.68 million compared only to a meager purchase of 7.4 million shares. Believe me, this represents almost half of the total shares traded that day! God have mercy on equities players!

Though most fund managers are of the opinion that EPF is profit–taking, its aggressive selling stance dragged down the FBM KLCI from achieving a greater height.

EPF's divestment of shares has been going on for the last two weeks. Fund managers believe EPF will continue selling the whole of the week ending 9 March 2012.

Under the Companies Act 1965, substantial shareholders need only notify the listed company of the shareholding transaction within seven days.

Among the biggest disposals on March 7 were 11.43 million shares in Telekom Malaysia Bhd, 10.72 million shares in Axiata Group Bhd, and 10.23 million shares in YTL Corp Bhd.

Most notably, between Feb 28 and March 1, it had disposed of about 30.3 millions shares in Maybank.
It had also early this month sold 10.7 million shares in UMW Holdings Bhd, 8.5 million shares in CIMB Group, 6.5 million shares in Telekom Bhd, six million shares in DiGi.Com Bhd, 3.7 million shares in IJM Corp Bhd, and 3.2 million shares in IOI Corp Bhd.

In true doublespeak, EPF chief executive officer Azlan Zainol is reported to have said that the EPF had not distorted the market. “It is all unintentional. We transact over three million shares at any one time; of course the market would be distorted,” he said. Talk about being sincere? Far from it!

In another development, the EPF is expected to start distributing portions of the Rubber Research Institute of Malaysia land in Sungai Buloh by June. Perhaps they need big bucks here?

Living on RM3,000 in Kuala Lumpur

I like what this blogger wrote.

To graphically tell you that RM3,000 is insufficient to keep body and soul in a runaway inflation Kuala Lumpur, he put up a expenditure for a nuclear family of 4 in this woe-begotten city.

Let us look at what he wrote.




Now, I am sure he has painted the painful reality for everyone to see and feel as well.