Another Great find-Carmen Ejogo

Captivating

Every once in a long while, we chanced upon a character that is effusively beautiful.

If looks could kill, then she must be Carmen Ejogo.

Carmen Sparkles!

Of Scottish-Nigerian descent, her looks were used to the max in the movie, " Sparkle".

The Sparkling Jordin Sparks

Clear Winner All the Way!

The effervescence Jordin Sparks unleashed!

Here we see her in both her  fantastic vocal and acting element.

She sang a tribute for Whitney Houston - the classic " I'll Always love You" and act along side Whitney in Sparkle!

http://youtu.be/qw4eRxZAOls

http://www.youtube.com/watch?v=zgsIGEm3f7w

Enchante!

Elder Brother's 64th Birthday Do

A Milestone Event emblem

Today, my brother's family celebrated his 64th birthday.

I went down with Jon to join the celebrations at one of the well-known Chinese restaurant at Terminal 2, Seremban.

Too bad, there were two wedding dinners going on at the same time. The din was horrendous.

Food was okay.

We took off for my brother's abode. Had the birthday singing and cake cutting.

The children all contributed in buying him a Samsung Galaxy II. So, he can dispose of his entry model now.

Not me, I am still having my old faithful Nokia.

Joey has grown up prettily and K Jin is now showing his early character by wailing if he does not want a stranger holding him up!

Left for home at about 8.30 pm.

Good drive home.

Robert will be going to The Hague in a forth-night  for a one-year stint with Shell.

Wish him all the best.

Nadia Heng-Closer to the Hainanese Community

Mixed Hainanese Descent

Beauty Product Modelling

Nadia Heng-that's beauty and brains for you.

Clinching the  Miss Malaysia 2010 Title

Come hither...teasy style...

Bordering on cheekiness

And mind you, even though she has Scottish blood (mum, that is), she is Hainanese and her English is oh-so impeccable in spite of being from a Chinese school.

Gorgeous 

Kitty...cat...kitty...cat!

Hitchhiking?

It shows how much a self-driven person can push the envelope to move into emceeing, fashion modelling and as in Nadia's case, clinch a beauty title for Malaysia.

Playing the field

http://youtu.be/BFkz_tWzTdA

Here are some shots of her and a You-tube interview.

Enjoy.

ACCA at Sunway University

My son's watering hole for the next 33 months

Well, truth be told, when someone's grades were not good in the past, he enrolls for a professional qualification  and had a better professional life compared to his friends who did well at HSC,went to university and ended up as mostly mediocre pen pushers.

So today(14 September), a milestone date for the family, I enrolled my son at Sunway University to pursue a 2 year and 9 months course to take on the much feared ACCA.

Do or Die, Sudden Death Exam

After I have paid close to RM5K for this first 9 months of the course, my son will now have to take on the challenge of getting that qualification. Beginning 18 September, it will be one grueling 8 to 6.30 lecture room cum tutorial thread-mill regime for him.

That is risk-taking on a do or die mission, sudden death being the price to pay for failure.

His sister was here and did it in record time.

Could he benchmark the sister's performance or even better that?

Let us see how the journey starts for him.

Will he sustained the pace?

Will THHE Lift Off!

Will it Bounce?

Bursar KL will only allow uplifting of P17 status for a counter , if after restructuring, a company shows two consecutive quarters of successive profit performance.

That Tabung Haji Heavy Engineering (THHE) has done so. No problem there.

So, why is there this sudden spurt up to 55.5 sen today and then a fall-back?

Let us rewind. 

A couple of months ago, Lembaga Tabung Haji (LTH)  increased its shareholding in THHE by almost 25% by buying shares in open trading to have a "comfortable level of control" of the company. The purchase price averaged 40 sen per share. It had only 14% as at end 2010. It is still the biggest shareholder. 

In an exchange filing yesterday, TH Heavy Engineering said LTH acquired 130.11 million shares at RM0.40 sen a piece. As at Dec 30, 2010, LTH was the biggest shareholder of TH Heavy Engineering, holding 13.98% or 166.83 million shares. With the acquisition, it now holds a 32% stake in the company. So, why the need for this comfort level and no more? 

“The increase of shareholding by LTH is because they want to have a comfortable level of control in THHE. On why the shareholding stops at 32%, an insider source replied that they did not want to trigger a mandatory general offer,

TH Heavy Engineering's core activities include fabrications of major steel structures, engineering and offshore marine services.

Through its subsidiaries, the company fabricates offshore oil and gas-related structures.

Nor Badli has also recently subscribed for  400,000 ordinary shares of RM0.25 each in the company.

So, will this RM1 counter  which undertook a rights issue at 50 sen with an attached warrant component go up soon?

Market rumours are aplenty on THHE. While some say conservatively it should hit 80 sen,others are more bullish and so it will hit beyond RM1.

Let us look for some possible basis for this speculative mindset on THHE.

Rights issue was offered to all shareholders on 12 July 2012 on the following basis:

2 rights for every 5; equivalent to 400 shares per thousand at issue price of 40 sen.

On 10 August, the new rights were traded.

Let us read some write-up on this counter.

INVESTMENT MERIT

Likely upliftment of PN17.  After two years of being classified as a PN17-status company, TH Heavy Engineering (THHE), or formerly known as Ramunia Holdings, has gone through several corporate exercises to improve its financials. Today, it has turned profitable and has on 31 July submitted an application to SC for an early upliftment from being classified as a PN17 company. 

RM210m contracts for 12 months.  In Mar12, it secured a RM23.6m fabrication job from Aquaterra Energy Ltd for the West Desaru Project, which was completed in July12. Three months later, it won two sizeable fabrication jobs from Sarawak Shell, totalling RM177.5m, scheduled for deliveries in 2Q13. With this, THHE has an orderbook backlog of c.RM210m, which will support its earnings for the next 12 months.

Tabung Haji  is the majority shareholder.  After its recent corporate restructuring, Tabjung Haji now owns a 32% equity stake in THHE, an increase from 29% previously. This, in our view, could boost the public confidence in the company for its future growth prospect.

Fairly valued.  The potential upliftment from PN17 status has caused the share price to rise 13% in the past week. While we reckon that THHE is financially stronger now and more profitable, we however, see little upside from here. THHE is fairly valued at RM0.55 based on 8.5x FY13 PER (ex-cash from the rights issue), which is our average targeted PER for small cap Oil & Gas stocks. On the downside, the rights price of RM0.40 should serve as a floor valuation.

SWOT ANALYSIS

Strength:  Strategic location of its newly acquired 57-acre integrated fabrication yard in Port Klang, with an annual capacity of 10,000 mt.

Weaknesses:  Its current PN17 status could challenge its ability to secure more contracts.

Opportunities:  Business expansion into lucrative FPSO market by acquiring a FPSO vessel. 

Threats: Margin contraction from FPSO segment due to pricing competition with the big boys.

TECHNICALS

Resistance: RM0.585 (R1), RM0.65 (R2), RM0.715 (R3)
Support: RM0.475 (S1), RM0.44 (S2), RM0.39 (S3)
Views: Bullish in the S-T & M-T
Comments: TH Heavy has just broken above the short term ascending triangle. Immediate TP of RM0.575 with the first level of support at RM0.475. Buy on weakness.

BUSINESS OVERVIEW

TH Heavy Engineering is involved principally in the fabrication of offshore steel structures and the provision of other related offshore O&G engineering services in Malaysia. In order to secure more opportunities from the O&G sector and being part of its business growth plan, the group has decided to foray into marine vessels services as its first step to explore within the expansive O&G activities chain. 

BUSINESS SEGMENTS

Offshore Structures Fabrications.  Core business which focuses on the fabrication of offshore oil and gas facilities, including substructures, platforms and topsides.

HUC & Topside Major Maintenance.  It offers offshore topsides modifications, upgrades, shutdowns, repairs and de-commissioning of existing or abandoned platforms. (Both these segments contributed 90% of the group's 1H12 revenue.)

Offshore Crane Manufacturing. This division is housed under its wholly owned subsidiary, O&G Works Sdn Bhd, and has been granted the license to manufacture offshore and marine crane.

Marine Services.  This is a newly ventured business that enables the group to  minimise the risk of its dependency on fabrication jobs. The acquisition of RM248.4m of FPSO vessel is part of its strategy to tap into demand for services in marginal oilfield development.

We will discuss more in another post.

Urge Incontinence-Beat it Nature's Way

Toilet Addiction?

I met my old boss today at UH.

He was at the teaching hospital as he had cataract problems.

Looks like Terminator 5 with his shades on.

Spoke about good times and bad times.

Said the only good chap he met at MOSTE was Dr. Sahabuddin the urologist.

Anyway, when I told him of my urge incontinence problem, this was his experiential advice.

Resist the urge to go to the comfort room every time.

 Exercise your muscles not to let go.

 Strengthen your willpower.

Also, do not drink water after 10 p.m. so as to get a good trouble-free sleep all night long.

He said to call up sometime for tea.

Yeah, but will he remember?