August 07, 2009

The Day They Had an Elephant Hanged

Angela Brown wrote this piece in the Associated Press in 1999.I have paraphrased to shortened her report on this bizarre event.

In a town called Erwin in Tennessee, a rogue circus elephant was hung in 1916.

Angela described the hanging.

"The railroad crane squeaked and strained as it slowly hoisted the 5-ton elephant. The chain around the animal’s neck tightened as the crane ascended, lifting first the front feet and then the back feet off the ground.

Moments later, with about 3,000 people watching, Mary the circus elephant was dead, her lifeless body hanging 6 feet in the air."

This bizarre tale has endured until this day though the people of Erwin would like to best forget about it.

As the story went,Mary was owned by Sparks World Famous Shows, a small traveling circus. She was featured prominently on advertisement posters: “Mary — the largest living land animal on Earth; 3 inches taller than Jumbo and weighing over 5 tons. A positive feature at each exhibition.”

Before the performance in Kingsport on Sept. 12, 1916, Mary and the other elephants walked through town in the circus parade. Walter “Red” Eldridge, a drifter who had joined the circus the day before in Virginia, was handling Mary.

When the elephant stopped to nibble on a watermelon rind, Eldridge hit her head with a stick. Suddenly Mary lifted him with her trunk and threw him into the side of a wooden stand. Then she walked over and stepped on his head.People ran screaming, but the elephant never charged the crowd. In fact, Mary quickly calmed down and the show — with her in it — went on that night.

The next day, the circus traveled about 40 miles to Erwin, and rumors about Mary’s attack began spreading. Some residents heard the governor had ordered Mary killed. Others claimed Kingsport residents were headed to Erwin with a cannon to blow her up.

The mayors in nearby Johnson City and Rogersville threatened to cancel circus shows in their towns if Mary kept performing.

Circus officials were reluctant to take action because Mary was such a valuable part of their show. But they knew they had to do something and apparently decided to kill her in spectacular fashion.

Circus workers wrapped a chain around Mary’s neck and attached it to a 100-ton derrick car, used for lifting and moving railroad cars. The chain broke during the first attempt. Witnesses said Mary broke her hip and did not squirm as much when she was hoisted the second and final time. She was buried near the track.

There were all kinds of stories on events before Mary was hanged.One strange and unbelievable account that remains popular had the townspeople of Erwin actually putting Mary on trial, convicting her of murder and sentencing her to death.

So believe it or not, they do hang even animals in days of yore!

August 06, 2009

Jokes with Funny Word Puns

1. Losing all your friends:
Man comes home and finds his wife with his friend in bed.
He shoots his friend and kills him. Wife says 'If you
behave like this, you will lose ALL your
friends.'

2. Brother wanted:
A small boy wrote to Santa Claus, 'Send me a
brother'....
Santa wrote back, 'SEND ME YOUR
MOTHER'....

3. Meaning of WIFE:
Husband asks, 'Do you know the meaning of WIFE? It
means 'Without Information Fighting
Every time'!'
Wife replies, 'No, it means 'With Idiot For
Ever'!!!'

4. Importance of a period:
Teacher: 'Do you know the importance of a period?'
Kid: 'Yeah, once my sister said she has missed one, my
mom fainted, dad got a heart attack & our driver ran
away.'

5. Confident vs. confidential:
A young boy asks his Dad, 'What is the difference
between confident and confidential?' Dad says, 'You
are my son, I'm confident about that. Your friend over
there is also my son, that's confidential! '

6. Anger management? :
Husband: 'When I get mad at you, you never fight back.
How do you control your anger?'
Wife: 'I clean the toilet.'
Husband: 'How does that help?'
Wife: 'I use your tooth-brush.'

August 05, 2009

Lim Kok Thay is the CEO on Cloud Nine

Yes, he is the most highly paid CEO in Malaysia.

GENTING Bhd chairman and chief executive Tan Sri Lim Kok Thay is the highest income earner among chief executives of public listed companies - earning RM77.7mil (S$31.9mil) in 2008 despite a 10% pay cut.

Nanyang Siang Pau reported that he also topped the list in 2007 with RM86.5mil.

According to the daily's calculation, Lim earns around RM212,800 (S$87333) a day.

In his capacity as Genting Malaysia executive chairman and chief executive, Lim is in third place with an annual income of RM37.25mil in 2008, compared with RM41.5mil in 2007.

In second place is IOI Corporation Bhd executive chairman Tan Sri Lee Shin Cheng, with an annual income of RM41.15mil, almost doubling his 2007 income of RM21.6mil.

Lee, in his capacity as executive chairman of IOI Property, came in sixth with an income of RM8.6mil following a 67% pay rise.

So, now you know what a pittance you earn! Remember in a capitalist economy, if you have a ringgit, the government will give you another ringgit. If you have none, just too bad. Shoo off!

Play Matrix for a Year....

Matrix International will soon change its name to reflect its owners. It will be known as Berjaya Assets. After a re-capitalisation exercise in 2008, it is on solid ground to move ahead. A rights issue plus a convertible warrant was given sometime in 1H,2008. The warrant can only be exercisable with RM1 cash per unit share on par with current shares.It is for 10 years. At today's price, none has been exercised and perhaps some if the price should reach at beyond RM1.00. So what do you think will be the Matrix play? One thing,they are on a profit trail, not like in 2007 when they were swimming in red ink.

After the EGM on 3 August which changed its name to be a Berjaya stable company,the price started moving out beyond the 30 sen level. It has now sprung into action touching a high of 49.5 sen. I believe a 10% increase for a day is a big jump. However, being a low priced counter and a Berjaya counter at that, it may attract strategic retail buyers very soon.Today's price went to as low as 46.5 sen. It is a profit making corporate but will not pay dividends at least for another year or so. Best thing, it runs a number forecast in Sarawak.

Looking at the current market, price of Matrix will be range-bound and so its buying time.It should go up when the next leg up happens in our market.When? Rightly, after ASNB pumps in the new largesse from the AS1M funds. Playing up the blue-chips and syariah compliant shares will certainly move the market. Remember in March when EPF lent Valuecap RM5 billon? The Bursar went up like an arrow.

I will benchmark Matrix to Dijaya Corporation's price or may be beyond..........

August 04, 2009

Buying Amanah Saham 1Malaysia

Yes, this morning we went out to PNB to line up to subscribe for the Amanah Saham 1Malaysia Unit Trust (AS1M). To our surprise, the waiting crowd was smaller. Heard that at 1am, there were only three eager beavers this time, camping out compared to the other time.Apparently, the crowd started coming in about 5am. This time the staff of PNB were more orderly. They got us to have lining-up numbers and to get us to thumb-print and sign the forms. Once, we got into the main office, we took our counter numbers in orderly fashion. They started sales at 8.00 and we got our units by 9.30 am.For those who want to buy using bank drafts,the PNB's advice is to write your own name or Amanah Saham Malaysia Berhad as payor on the draft. Once, you are deemed successful in acquiring the units, you can only collect your passbook 3 days after that.

Heard there are a lot of confusion this time around. They are many interpretations of what this fund is. Some said that it is a trade-able fund and come go up and down the par value of RM1.00 per unit. Others say that PNB will buy from you still at RM1.00 if you should redeem it. Yet others say that you can only start selling the units after a month.I guess the Malay quota of 5 billion units may unlikely be subscribed with all these varied interpretations going around. Soon, this portion will be re-open for general subscription again and big corporations will just gobble all the balance up!

Let us see what happens in the next few days.

August 03, 2009

Earlier Opening, Quicker Returns!

CIMB has estimated that Genting Highlands's new resort hotel-cum-casino project worth S$6.6 billion (about RM16 billion)in Sentosa Island,Singapore will open its door to the public possibly by year end 2009.As such,earning potential must go up as compared to earlier estimates.

The “quick pace” of construction could lead to a pre-2010 opening instead of early next year, CIMB said in a report today after a recent visit to the site in Singapore.

Genting may announce the resort’s opening date next month, it said.

The casino resort in Singapore is expected to generate S$690 million in earnings before interest, tax, depreciation and amortization in the first year of operations, more than twice what CIMB’s previously estimated.

CIMB today raised its target price on Genting to RM9.40 from RM7.90. Shares of the company, based in Kuala Lumpur, gained 1.9 per cent to RM6.42 at noon today.

Genting’s Singapore project is one of two casino resorts the government has allowed to be built in the city-state as part of its goal to lure 17 million visitors and triple annual tourism revenue to S$30 billion by 2015. Genting Singapore Plc, partly owned by Malaysia’s Genting, said on June 25 the resort in Singapore is on track to open in early 2010.

Las Vegas Sands Corp, controlled by billionaire Sheldon Adelson, said on July 8 it will open its Singapore casino resort on schedule in January or February next year.

So let us see how good is CIMB in its estimates and how the market will react to it. They spoke of Axiata and Axiata's share price went heavenwards!

It May be Home but I Shall Not Return

There are many among us that think Singapore is Paradise Regained after its split from Malaysia way back in 1965.The issues faced by the younger generation points to a different direction. Read this article.I have taken liberty to do some paraphrasing.

"I think Singapore has a lot of catching up as far as IT, R & D and new technologies are concerned, even though Singapore is ahead of Malaysia.

How can Singapore achieve or come close to the standards of US, Japan or Europe?

Jonah, 22, has been studying in US for less than a year, but he has already decided that he will not return to Singapore to work after graduation.

A first-year student taking computer science at Stanford University, he says that US is far ahead of Singapore in science and technology. Situated near the Silicon Valley, Stanford's outstanding students are offered jobs by top IT firms even before they graduate.

"They have the world's top firms like Google, Microsoft and Apple - companies that value creativity. Working for them will broaden my horizons and improve my resume," he told my paper.

"While there are also many multi-national companies in Singapore, my impression is that they focus on product assembly, marketing and sales."

According to a survey by Experiences 2009, the organiser of an annual US education convention, there are quite a lot of overseas students who think like Jonah.

According to the survey of 153 Singaporean undergraduates at 15 top US universities, as many as 79 per cent prefer to work in US after they graduate. Only 18.1 per cent wants to return to Singapore immediately after they complete their studies.

At Chung Cheng High School's 70th anniversary celebration last month, Senior Minister Goh Chok Tong expressed his concerns about this phenomenon. He said that more than one-fifth of the students who performed well between 1996 to 1999 (those who scored at least four 'A's and a B3 in the General Paper) are no longer working in Singapore a decade later.

More than one third of those who studied overseas and did not receive scholarships are also not working in Singapore.

In Goh's speech he pointed out Singapore's conundrum - while preparing students to be 'entrepreneurial and world-ready', we are also 'growing wings' on them and more students will be heading overseas to develop their careers in future.

Why do they leave?

Why has Singapore no hold for these students? Do they leave because the pull factors from other countries are much stronger?

Students interviewed by a paper say that they leave not only because of the lack of job opportunities, but also because Singapore is too stressful and they don't feel appreciated.

Ng Hui Jin, 20, a Biology student at Imperial College in UK said that the pace of life is so fast in Singapore, she could barely catch her breath at times. She feels that Europeans place more emphasis on quality of life. The pace is slower there and her classmates do not compare on their results.

"Perhaps the learning environment and lifestyle here is what keeps Singaporean students in Europe," said Hui Jin.

Ridy Lie, 28, who graduated from Carnegie Mellon in 2003 has worked at Amazon.com for six years. He said that he likes the free and easy culture in American IT companies. A software developer, he can wear t-shirts and jeans to work, and their supervisors do not require that they report to work by a certain time.

"The company also provides a two-storey recreation area which includes a basketball court, arcade and gym. Our bosses even encourage us to spend our time there during work hours, to get inspiration."

Higher pay also played a part in his decision to stay in the US.

"Big IT firms in US will pay a fresh grad between US$60,000 to US$80,000 (S$87,000 to S$115,000) while investment banks and consultancies can pay up to US$90,000 (S$130,000), this is practically three to five times more than what they can get in Singapore."

At least one student says that she wants to leave because she doesn't feel appreciated.

After the financial crisis last year, many firms around the world retrenched a large number of employees and quite a number of graduates made their way back home but were unable to find a job in Singapore.

London School of Economics graduate Ruchika Tulskyan, 22, applied to 20 companies for a job but received no response.

"The government has been encouraging overseas students to return to Singapore, but Singaporean corporations do not seem to hold the same attitude. It has made me doubt my decision to come back."

Disappointed, Ruchika has decided to further her studies at Columbia University next month."

So while we complain about the brain drain in Malaysia, it is also happening on the other side of the Causeway. The reasons may be different but the trend is the same-pulled by work life-styles and fat salary packages.

For those intending to do IT, remember there is the exciting up-stream R&D jobs and the financially rewarding R&D business opportunities. Investment banks and venture capitalists will pay you top dollar to identify a successful R&D output and to bring it quickly into market as a commercial product.