Less Funny More Outrageous

These pictures sent by my friend from Shanghai sure is not that funny but outright outrageous!

See it for yourself!

Maxis Nudged to Re-list on Bursar

It took no less that a forceful nudge in the rib-cage from the in-coming PM for Ananda to be aroused from his private financial sleep to consider a re-listing of Maxis on Bursa. That was January 2009. Now they, are telling that perhaps in December they may come in.

Reuters have this report on 26 July on this call-back to national duty.

Maxis, Malaysia's top mobile phone operator, could re-list by the end of the year following government calls to boost liquidity on the local exchange, a top business weekly reported today.

The Edge, citing unidentified sources close to the company, said the funds used from floating the company's Malaysian operations would be used to expand business in India and Indonesia.

"That's an option that's being seriously looked at. (A listing by year end) is possible, if regulatory approvals go smoothly," one source said.

Prime Minister Datuk Seri Najib Razak on Wednesday said he had asked Maxis to re-list on Bursa Malaysia to boost liquidity and draw in investors to the Southeast Asia's most laggard stock market so far this year.

Maxis said it would take into consideration what the premier had said when deciding on the timing to relist.

"When Maxis was privatised and de-listed in 2007, the stakeholders articulated the possibility of a re-listing of the company after internal re-structuring, some time in the future," the firm said in a statement issued later today.

The firm was de-listed by reclusive tycoon Ananda Krishnan, who controls 75 per cent of Maxis. The rest is owned by state-owned Saudi Telecom Co Ltd.

Maxis' market capitalisation stood at around RM39 billion before it was taken private, Reuters data showed, and the new listing is expected to give the company an enterprise value of RM40 billion, the report said.

Only plantation conglomerate Sime Darby and the Southeast Asian country's biggest bank, Maybank, have higher market capitalisation at RM47.5 billion and RM45.2 billion respectively.

So is Ananda heeding the call of the Pipe-piper? Likely so. But through which of his public vehicles? Tanjong, Measat or Astro?

Time will tell as all these three counters go flying up as they are buoyed by market rumours.

The Passing on of a Malaysian Legend

Yasmin Ahmad, the film director that dared to cross the racial divide in her literary works has gone. She passed on late yesterday night (25 July).

Malaysians from all walks of life are proud of her. She left us a priceless legacy in film and advertisement works that thrived on the themes of love, family ties and comedy against the backdrop of multiracial Malaysia. She was a true Malaysian.

Born in Bukit Treh, Muar, Johor on July 1 1958, Yasmin, who graduated in psychology from Newcastle University, United Kingdom, had won local and international creativity awards.

She began her career as a copywriter with Ogilvy & Mather before joining Leo Burnnett as joint creative director in 1993 and rose to become its creative executive director until her death.

She was married to Abdullah Tan Yew Leong.

Her creativity could be seen in many Petronas’ commercials and evoked emotion of the viewers, especially during the Aidilfitri celebration which would certainly be missed by viewers this year.

In the film industry, Yasmin, however, drew much controversy in view of her openness and boldness in analysing social issues.

She has been targeted by critics since her first movie, “Rabun” was screened in 2003 followed by “Sepet” (2004), “Gubra” (2006), “Mukhsin” (2006), “Muallaf” (2008) and Talentime (2009).

But she also earned rave reviews for “Sepet” which won the Best Film Award and the Best Original Screenplay Award at the Malaysian Film Festival 2005. “Sepet” also bagged several international awards, namely the Asian Film Award at the Tokyo International Film Festival 2005, the Grand Prix Award at the Creteil International Women’s Film Festival in the same year.

“Gubra” won the Best Screenplay award at the Malaysian Film Festival 2006.

“Muhsin” won the Generation kplus – Best Feature Film and the Deutsches Kinderhilfswerk Grand Prix award at the Berlin International Film Festival. “Mukhsin” also won the Best Asean Film at the Cinemanila International Film Festival 2007.

“Muallaf” won the Asian Film Award – Special Mention at the Tokyo International Film Festival 2008.

While leaving indelible marks at home, Yasmin’s movies gained international recognition as they were shown in Berlin, San Francisco, Singapore and at the Cannes Film Festival.

We will remember Yasmin always.

Poking Fun at Mount Rushmore

Just for a laugh, is there more to the the august-looking past US presidents on Mount Rushmore?

Do they have a 'backside'?

The following two perspectives will let you snicker!!!


v
v
v
v
v
v
v
v
v
v

Human Wafers

Soylent Green continues to thrill inspite of its dated production in 1973. A dystopian science fiction movie, it depicts a future in which overpopulation leads to depleted resources, widespread unemployment and poverty. Real fruit, vegetables, and meat are rare and commodities are expensive and reserved only for the very powerful and rich.

Much of the population survives on processed food rations, including " soylent yellow" and "soylent green" wafers.

New York City police detective Robert Thorn (Charlton Heston) with the help of an elderly police researcher Sol Roth (Edward G. Robinson) investigated the brutal slaying of a wealthy businessman named William R. Simonson (Joseph Cotten). Thorn and Roth uncover clues which pointed to something more sinister. That Soylent Green was made from human flesh!


The film, which is loosely based upon the 1966 science fiction novel "Make Room! Make Room" by Harry Harrison, won the Nebula Award for Best Dramatic Presentation and the Saturn Award for Best Science Fiction Film in 1973.

As a movie, it is at once shocking and unnerving.

Superb acting by Charlton Heston and Edward G Robinson.

Good movie to watch again and again.

Mamee-Double Decker (M) Berhad

Value Investing in the KLSE has now recommended Mamee-Double Decker (M) Berhad, (Mamee) an investment holding company that engages in the manufacture and marketing of food and dairy products, and soft drinks primarily in Malaysia, the People's Republic of China, Myanmar, and other Asian countries.

The company currently manufacture products such as instant noodles, snacks, dairy products, chilled products, beverages, and confectionery. It also exports a range of products, including yogurt, cultured milk, fruit juice, instant noodles, snacks, and beverages to countries in Asia, the Middle East, Africa, the Americas, Europe, and Oceania. In addition, the company engages in the development of commercial buildings; and provides advertising contractor and agent services, as well as information systems management and motor vehicle rental services.

Mamee is currently selling at RM2.46 per share at P/E 6.6. In 1Q2009,it made RM10mil which is almost 2.5 times compare to 1Q2008. By analysing historical earnings,Mamee is expected to make 30 mil this year (compared to RM20 mil for previous years)

Its balance sheet continues to be very strong.It holds about RM51 mil in cash with no long term debt.Its current ratio is 2.88 and quick ratio is 2.26.Historically,it gave about 6% dividend yield.

There are a few possibilities on how Mamee will utilize its cash horde.

1) Make acquisition to enhance cashflow. Recently it acquires Charmille Pte Ltd (Charmille) which is a company involved in the precision engineering industry in the Asia Pacific for more than 25 years. This type of business has some synergy element in manufacturing and trading business.

2) Buy back shares if the share price is undervalued.Mamee has been buying back its shares since a few months ago.Hence,it's downside is pretty small.

3) Take over target. Mamee is a good take over target by Pang's Family or other companies.But Pang's family,which own around 70% collectively of Mamee may not takeover Mamee since these owners are in their 50s already.Thus,Mamee may be taken over by other companies.

Mamee has net asset per share of 2.46 and based on current share price,it is selling at RM210 million for the whole business. Stripping the cash of RM51mil away,the whole business is selling at RM160 mil.By estimating a net profit of RM30 mil this year,the actual P/E is 5.3

At share price of RM 2.46,investors are getting a good bargain for a defensive company with further growth prospect such as Mamee.

Buy in Mamee if it weakens appreciably.