Playboy:Hefner's Baby Goes on Sale!

This is a very important milestone for mankind. Hugh Hefner has decided to relinquish control over the iconic Playboy magazine. So, what directions it will now take post Hefner is anyone's guess. How raunchy can it really get with internet pornography running wild real-time for free!

Let us read this Reuters news feature article circa 14 November 2009.

Playboy founder Hugh Hefner changed American pop culture, one centerfold at a time.

With his Playboy Enterprises Inc in talks to be sold for about US$300 million (RM1.014 billion) , the 83 year-old Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society’s opinions on nudity, sex and free speech.

With US$600, Hefner in 1953 published the first Playboy magazine with a partially nude photo of Marilyn Monroe at its center. The magazine would become not only one of the most successful publications ever, but also a brand that led many Americans to think about sex in a more carefree way.

“Hef” turned Playboy and its bunny head logo into a symbol for a lifestyle he embodied as bachelor extraordinaire, living in a mansion surrounded by wealth and beautiful women.

“This guy was one of the major players in the transformation of American culture in the second half of the 20th century and not just because he had a magazine with naked women in it,” said Robert Thompson, a professor of pop culture at Syracuse University.

In 1972, Playboy had a worldwide circulation of 7 million, but that has been in decline ever since, as the liberalization of sexual attitudes Hefner promoted became more mainstream — and more competitive.

But even as it grew ever more popular, the magazine created rivals such as Penthouse and Hustler. In the 1980s, adult videos grew into a major business and by the late 1990s, the rise of the Internet and free pornography on the Web became Playboy’s greatest rival for an audience.

Hefner remains in the limelight today, showing up at media events with numerous girlfriends by his side. He enjoyed a role in reality television show “The Girls Next Door” on cable network E! and his dating life and break-up with model Holly Madison made him a staple of celebrity magazines.

Hefner has said that growing up during the depression he always looked back wistfully to the 1920s age of flappers as an era of freedom he had missed.

He has described himself as having liberated America from its Puritan past and experts agree he did make sexual images and content more acceptable to Americans.

But Playboy magazine also showed men how to enjoy stylish clothing, good liquor, sports cars and other luxuries, and became a standard bearer for that lifestyle — real or imagined.

“All that kind of stuff just piled up issue after issue — promoting that idea of consumer abundance as being synonymous with the good life in this country — and Hefner is very important in promoting that idea,” said Steven Watts, author of “Mr. Playboy: Hugh Hefner and the American Dream.”

But as Playboy’s fortunes waned, some of the symbols of wealth that surrounded Hefner became harder for him to hang on to.

In the early 1980s, he had to give up a private jet plane with a bedroom, a miniature disco and a kitchen, Watts said.

Through the decades and despite the loss of business, Hefner continued to live the good life and made sure everyone knew it.

“Hefner really tries to completely disengage the notion of guilt and sin from having a good time and, the last couple of generations, that has pretty much prevailed,” said Thompson, the Syracuse professor. “Certainly, when I talk to my students, I don’t get a sense they’re feeling guilty about the good deal of fun they’re having.”

Rare Pure Moments!

Yes, these are rare sights.Truly wonderful pictures! Only those opportune with a handy camera ready to shoot can catch these moments. Do you agree?

Bursa KL: Momentum Maneuver

Some doyens of the stock markets said that it is very difficult to play in the Malaysian stock market.


Reason given:no momentum.

Bursa KL used to be flushed with funds when the foreigners were playing here in droves. After suffering huge losses because of the sub-prime debacle on Wall Street, a lot of these funds went back to stave off the hemorrhaging at home. So, less than 30% of the dabbling daily comes from foreigners. The rest are from our handful of institutional buyers and some picky retail players.
Retail players are generally weak. They play by the day. Once some counters show momentum, they buy into it and await. If they make profit on that day, they liquidate. If not, they timed themselves with the hope that the counter will run. We have seen in the past 10 days such movements. Time Engineering,Red-tone,YTL-E Solutions, Ramunia and A3 galloped away. After a lull, they are becoming hot again.Some are cantering well with heavy volume particularly Time Engineering. Expect action and fun next week if Wall Street is generous.


The other counters which will likely gallop away in the near future are JAKS, KPS,KHSB,RCE and MRCB. Watch for volume as they build strong shoulders to spring off!

The Tiger Roars Again!

Malayan Banking (Maybank), the country’s biggest lender reported its first-quarter,showing net profit has risen more than half as the rebound in Asian economies boosted fee-based income and its loan book.

Maybank, with a staggering market value of US$14 billion (RM47.6 billion), posted July-September net profit of RM881.8 million compared with RM572.2 million a year ago.

The earnings were higher than the average forecast of RM720 million by four analysts surveyed by Reuters.

The lender, 65 per cent owned by government-controlled agencies, has launched an ambitious restructuring plan this year to win a place among the top five banks in Southeast Asia following a series of expensive acquisitions in 2008.

Maybank shares have gained 50 per cent this year, outperforming the 46 per cent rise in the broader market index, but lagging the more than 100 per cent gain by Malaysia’s top wheeler dealer,CIMB.

Can the tiger's roar be heard loud and clear again in the financial jungles? Can it beat down the politically-connected CIMB?

We will let them each to tell us their stories in due time.

China in the Driver's Seat

The continuing rise of China will help drive economic growth and development in Asia in the long term, according to David Ng, an economic analyst at HwangDBS Investment Management Bhd

He is confident that a sustainable economic recovery will take place in Asia (excluding Japan), mainly with China as its driving force.

“We also foresee that plenty of Asian-themed investment products will be made available to the public which we believe will feature strong upside stories,” he said in a statement today.

Ng said a new pecking order has emerging as a result of the financial crisis, adding that “we are picking up more positive signs that point to a definite recovery such as the narrowing of corporate spreads, a turnaround in the global diffusion index and higher equity valuations or price to earnings ratios”.

According to him, the current global economy is still relatively fragile and economic growth is expected to remain below its potential for a few more quarters before making its full recovery.

Ng said HwangDBS IM is bullish on the Asian markets, adding that growth signals pointed to Asia as the most economically dynamic region in the world.

“China is at the front and is seen to be aggressive in its approach to stimulating local growth and consumption. Increased lending by banks, higher real wages, a booming middle class and growing individual wealth will inevitably lead to higher disposable income and consumption,” he said.

Ng said in the near future, companies in Asia would be able to generate more income and over the long-term be considered lucrative stocks to hold as dividends become a big part of the total returns.

“We have identified a few multi-year investment themes that will drive long-term growth such as China’s economic growth, the burgeoning global middle class, ageing and changing population trends,” he said.

“China is certainly our favourite pick. Its enormous government stimulus spending of more than US$586 billion (RM1.9 trillion) and aggressive re-leveraging will prompt a rise in local asset prices.”

Ng also advised investors to exercise extra vigilance in choosing suitable products for themselves.

“Economic cycles are getting shorter and the pendulum swings both ways,” he said.

“Simple investment basics works in any economic environment. In today’s environment, investors should slowly average in the market and exercise discipline once investment goals are met.”

Good advice, I think.

Maximizing Maxis?

Yeoh Pooi Ling reporting in The STAR today recorded some analysts as saying that the final price at RM4.75 of the IPO is below expectation.

Maxis Bhd has now set the price of its initial public offering (IPO) shares at RM4.75 each while institutional and cornerstone tranches are at RM5 per share, which will collectively raise about RM11.2bil from the listing of 2.25 billion shares on Bursa Malaysia.

The market capitalisation at the institutional price and its enterprise value would amount to RM37.5bil and RM42.5bil respectively, said Maxis after the close of its book-building exercise yesterday.

The institutional offering book, excluding the offering to cornerstone investors and approved bumiputera investors, was 3.7 times covered or equivalent to RM19.3bil, comprising some 500 global investors.


The IPO attracted orders of over RM26.5bil via its various tranches, with strong demand from international and Malaysian investors.

Foreign interest came from leading institutional investors familiar with Malaysia, 10 institutional investors new to Malaysia with orders of RM1.3bil in Maxis shares, as well as sovereign wealth funds, it said.

The institutional offering will raise RM5.3bil, of which over US$800mil will be from foreign investors. The bumiputra investors and cornerstone tranches attracted RM5.2bil for one billion shares.

Cornerstone investors have agreed to hold their shares for six months from the listing date and would in return obtain a preferential allocation for the IPO.

These investors include the Employees Provident Fund, Fidelity Funds-Malaysia Fund, Kumpulan Wang Persaraan (Diperbadankan) and Permodalan Nasional Bhd.

The retail offering of 212.3 million shares was oversubscribed by 180% for 381.2 million shares worth RM2bil.

UOB Kay Hian (M) Holdings Sdn Bhd head of research Vincent Khoo said the final prices were below expectation, as “it was widely expected that the institutional price would be at RM5.20 per share.”

“At RM5 per share, there is a modest upside upon listing as most estimated valuations would not be more than RM5.50,” he told StarBiz.

OSK Investment Bank, in a report, said the final price, at the lower end of the indicative range of RM4.80 to RM5.50, was a reflection of the valuation appetite among institutions for the stock.

“Maxis should have no issue meeting its dividend obligations.” the research house said.

Maxis, upon its listing on Nov 19, would become a component of the FTSE Bursa Malaysia KL Composite Index and increase the capitalisation of the market by over 4%.

MIER:25th Top Think Tank in the World

Scenario Builders, data collectors, collators and analysts. In a survey of the top global think-tanks of 2008, the Malaysian Institute of Economic Research (MIER) has carved a name for itself as a credible private think-tank in emerging among the top 25 in Asia in 2008.

The ranking was based on the findings of the Think-Tanks and Civil Societies Programme by the University of Pennsylvania, the United States.

China's Chinese Academy of Social Sciences (CASS) topped the rankings list, followed by the Japan Institute of International Affairs (JIIA) and India's Institute for Defence Studies and Analyses (IDSA).

"Of the 653 Asian think-tanks, we are 25th. I think this is an achievement to be proud of. Although a small institution, we are able to make a global impact," MIER executive director Professor Emeritus Datuk Dr Mohamed Ariff Abdul Kareem told Bernama in a recent interview.

He said the institute has been doing a lot of work not only for the government at both the state and federal levels, but also the private sector and international bodies such as the World Bank, the Asian Development Bank and the United Nations Economic and Social Commission for Asia and the Pacific (Escap).

Mohamed Ariff, who is stepping down from his position on Dec 31 after having helmed MIER for 12 years, said it had become an institution that is being recognised.

"I am pleased to say that our forecast has been very good. We may not hit the bull’s eye all the time but it has not been that far off. We are credible and establishing a good name," he added.

On why he was stepping down now and not waiting for the institute's silver jubilee in two years’ time, Mohamed Ariff said he had been around for a long time after having joined the organisation in June 1997.

He was previously a lecturer at Universiti Malaya.

He dispelled any notion that he was pressured to leave, saying it was purely voluntary

"It has been a long time. It is enough. Although it was a lot of stress, I enjoyed doing what I did," he said.

Having gone through two recessions and turbulent times together with the institute, he said the challenge for MIER had been to stay "alive".

"Because we are a self-financing institution and an independent think-tank, we have to say things in such a way that we don't sound anti-establishment. At the same time, we also want to be very objective," he explained.

According to Mohamed Ariff, his frustration and greatest challenge was during the last financial crisis.

"The local press was interested in positive news. The foreign press, on the other hand, wanted negative stories. We tried giving a balanced picture but were sometimes quoted out of context," he said.

He said one of the MIER's objective is to keep the people informed so they can arrive at their own decisions.

Mohamed Ariff was also encouraged by the feedback from the business community which showed that MIER was doing a great job and this is evident from them becoming members and attending its events.

He highlighted that MIER is governed by a board of trustees and by people who are working for the national interest.

"We are encouraged by all this. We are thus able to walk the tightrope, balancing ourselves through turbulent times, making comments that are useful and constructive and which can be an input into decision making while providing an alternative view", he said.

MIER is an independent, non-profit organisation devoted to economic, financial and business research that serves as a think-tank for the government and the private sector.

With the departure of Professor Emeritus Datuk Dr Mohamed Ariff Abdul Kareem, my guess is MIER will go down from the totem pole of the top ranking think-tanks of the world due to political gravity.

Wanna bet?