Pornthip- Sincerity Beyond Reproach

Well, if you think she had a bruising session in the Malaysian court giving evidence in the Teoh Beng Hock Inquest, you may have to re-look at your perspective.

From her rebuttal questioning her accreditation and experience, she stood her high moral ground against the relentless low grade provocation of the MACC. She had her day in court.

Conducted in October 2009, the survey found Dr. Pornthip Rojanasunan to be the most trusted individual in all of Thailand while Doctors were the most trusted group.

Most Trusted Individuals: This survey found that out of 80 individuals Thailand's renowned forensic pathologist and director of the Forensic Science Institute, Dr. Pornthip Rojanasunan was ranked as the most trusted individual of the year. She was followed by Phra Ajarn Alongkot Dikkapanyo, the head monk at the famous Buddhist AIDS temple, Wat Phra Baht Nam Phu, Dr. Sumet Tantivechakul, secretary general of the Chaipattana Foundation, Phra Promkunaporn (Prayut Payutto) acclaimed spiritual leader and winner of an UNESCO Prize for Peace Education, and Phanya Nirunkul media tycoon who was the fifth most trusted individual.

The rest of the top ten were film director Prince Chatrichalerm Yukol (6), leading banker Banthoon Lamsam (7), social workers Nuannoi Timkul (8) and Suthasinee Noiin (9), and renowned marine environmentalist Dr. Torn Thamrongnawasawat (10).

People trust those who do good deeds for society: The majority of this survey's top 10 most trusted individuals were people who worked in non-profit organizations and dedicated themselves to helping others. Some of the respondents pointed out that, Dr Pornthip Rojanasunan has worked “dedicatedly and fearlessly to bring justice to our society”.

Other individuals within the top ranks were also highly rated in terms of their dedication to the greater good. For instance, Phra Ajarn Alongkot Dikkapanyo's work of helping those who suffer from AIDS is selfless and admirable, while Dr Sumet has been admired for his service to the King and his commitment to accelerate awareness of His Majesty the King's philosophy of sufficiency economy among general public.

When it comes to trust, politicians are the lowest: According to the survey, politics was seen as the least trusted occupation, followed by Psychic or Astrologer and Insurance Agent. The survey also found that Thai respondents trusted security guards more than they trusted law enforcers. In the most trusted profession ranking, security guards were rated one spot higher than police officers.

So, for politicians and those in the police force,what have you to say?

The Rise and Rise of CIMB

Yes, it is the number two commercial bank in Malaysia in terms of ranking but the gap is getting closer and closer. Watch out, Maybank!

CIMB's share prices spurted up spiritedly yesterday to clinch a gain of 22 sen. This is brought about apparently  by bullish buying on the back of their just reported earnings in its  Indonesian operations.

PT Bank CIMB Niaga Tbk, the Indonesian subsidiary of CIMB Group Holdings Bhd has posted a first-half ended June 30, 2010 with a whopping net profit 1.12 trillion rupiah which is 62% higher than the same period a year ago with net interest income improving 16% and net non-interest income by  7%.

Compared to the first quarter, the bank posted a second quarter net profit that was 15% higher at 605 billion rupiah.

Total loans for the first half grew 26% to 91.76 trillion rupiah driven by investment loans in corporate banking and auto loans in retail banking while total deposits grew by 29% to 106.18 trillion rupiah.

Gross non-performing loans ratio for the bank improved to 2.67% while impairment ratio for the second quarter decreased to 4.3% from the first quarter.

The loan loss coverage ratio increased to 140% in the first quarter compared to a quarter ago with impaired loan loss coverage increasing 293 basis points to 76.5%.

A Bloomberg report also pointed out that parent CIMB Group will target a listing  on the Indonesia Stock Exchange towards year-end or early 2011.

On Aug 4, Indonesia Stock Exchange president director Ito Warsito said the stock exchange might approve the bank’s dual-listing proposal, which could come about after Jakarta makes changes to regulations in the fourth quarter to allow foreign-listed companies to list their shares.

CIMB Group chief executive officer Datuk Seri Nazir Razak had told reporters in early May that the bank had informed the Indonesian authorities of its interest in a dual-listing.

So, there are a lot of news making out there for the bank to create bullish excitement.

Is it too late to take a berth on this counter at the current price of RM7.90?

GenM: Is It Biting More than It Can Chew?

Is  Genting Malaysia Bhd re-branding itself? It looks like it.

Buffeted initially by the frustrating failure in the Star Cruise investment, it got thwarted yet again when it was shut out of the Resort World Singapore deal.

Now, tomorrow at its EGM, GenM will likely buy over Genting UK.

Sure, profits were decent the last few years and it has accumulated a cash pile of some RM5bil for sometime. This cash reserve was not doing anything as the reluctant Genting M Board did not want to reward its minority shareholders by giving out special diviedend or dividend -in-specie.

In early July, news were floating around that that Genting Malaysia may buy over Genting UK from Genting Singapore (GenS).

In knee-jerk fashion, analysts and shareholders kicked up a fuss, with what was seen as a clear-cut related party transaction.This was after the first and second transactions of a similar nature namely the Walker deal and the purchase of Wisma Genting and Oakland Investments from the parent company.

GenM announced that it was proposing to acquire GenS’s UK casino operations for £340mil (about RM1.67bil). GenS first bought Genting UK in 2006 at £626.91mil (RM3.13bil)

The UK casino operations comprise four companies – Nedby Ltd, Palomino Star Ltd, Palomino World Ltd and Genting International Enterprises (Singapore) Pte Ltd – collectively known as Genting UK.

Gambling in the UK is regulated by the Gambling Commission on behalf of the government’s Department for Culture, Media and Sport under the Gambling Act 2005.

There have been significant updates to UK’s gambling laws, including increasing tax on poker profits from 15% to as high as 50% depending on profitability. There have also been increased rates on all categories of amusement machine licence duty.

These measures are likely to continue to dampen the gaming enviroment in the UK and some analysts are pessimistic because of the challenging operating environment.

There are concerns that Genting Malaysia could be buying Genting UK at a time when the economy is not only weak, but faces a double whammy of the casino industry facing tough legislation.

All eyes and ears will be on Genting Malaysia’s EGM tomorrow to approve the acquisition of  Genting UK from GenS. GenM’s second quarter results to June 30, will be also released on Aug 26. That it will take-over GenUK is a  fait accompli,to say the least.

Genting Malaysia has been doing its legwork. They have been on a roadshow in the last few weeks to meet up with its shareholders and to explain the rationale and potentential of buying into the UK casino operations.

Last week at Genting Singapore’s EGM, the resolution in respect of the sale of UK casino assets to Genting Malaysia passed by shareholders.

It is however interesting to note that over the last two days, Genting Malaysia has bought back a total of 11.2 million shares at an average price of RM3.03. This brings its cumulative treasury shares held at 3.71%.

The group has announced its intention to purchase up to a further 376 million shares (representing 6.4% of share cap) within the next 10 months.

Meanwhile last week, Genting Malaysia Bhd obtained all the necessary approvals and signed the agreement to develop the Aqueduct New York racino.

Genting New York (GenNY) is expected to invest US$1.3bil which consist of US$380mil (RM1.22bil) of licencing fee, US$350mil (RM1.12bil) initial capital expenditure (4,500 video lottery terminals), and US$650mil (RM2.08 bil) to build three hotels of differing standards, shopping, recreation, spa and other resort facilities.

Dubbed Resorts World New York, the proposed three-storey facility will also contain several restaurants, water features, an outdoor terrace connected to the Aqueduct racetrack which will be able to accommodate up to 10,000 people and a 2,200-bay car park.

GenNY aims to complete the entire development within 12 months from the date it obtains formal approval from the state to proceed.

As part of a wider development plan, GenNY is also proposing to build three hotels of differing standards, shopping, recreation, spa and other resort facilities at a total cost of US$650mil (RM2.09bil). That will take the proposed outlay for the entire project to over US$1.3bil.

“If we assume daily win per terminal of US$300 (similar to the more successful Yonkers racino closer to New York city centre), Resorts World New York may contribute RM595mil and RM196mil to Genting Malaysia’s revenue and profit after tax respectively by 2013,” said an analyst from HwangDBS Research.

UOBKayHian reckons that the project is neutral to Genting Malaysia’s revised net asset value but is slightly earnings-accretive over the long term, assuming that the Aqueduct would be eventually given a license to operate table games.

The research house estimates the slot facility could provide a payback period of 5.5 years (on full expansion), while the payback period for the rest of the facilities could be significantly longer.

“Conservatively, Aqueduct could pull in revenue and operating profit of US$468mil and US$84mil respectively when it is fully expanded.

“This accounts for about 14% of Genting Malaysia’s forecasted 2012 operating profit,” said the research house.

The recent spotlight on the entire Genting group has been brought about by GenS's sterling results and the re-rating of casino sector in Singapore. GenS is 52% owned by Genting Bhd.

GenS’s second-quarter results took the investing community by surprise, when it beat analysts and consensus estimates.

For the second quarter ended June 30, GenS posted a net profit of S$396.5mil (RM925.9mil) compared with a net loss of S$50.7mil a year earlier.

Revenue soared to S$979.3mil from S$120.1mil previously. This translated to a profit margin of about 40%.

THe NY Racino is In the Bag!

It is confirmed.

Following a unanimous recommendation from the New York Lottery earlier this month, Governor David A Paterson, senate conference leader John Sampson and assembly speaker Sheldon Silver have all granted their approval to award Genting Malaysia Berhad's wholly-owned subsidiary, Genting New York, the right to develop and operate a video lottery facility at Aqueduct Racetrack.

So, let us see whether Genting can bring in cash into the coffers of Genting M that has been deftly depleted by the marauding Board.

RCE's Better Dividend Fiscal 2009

Yes, after an initial payment of RM10.00 dividend per 1000 shares last year, RCE Bhd has rewarded minority shareholders with a more than 100% increase in its dividend. The dividends to be paid are 9% tax deductible at 25% and an additional  single-tier tax exempt 8.5%.  This works out to RM15.25. The quantum will have to be approved at the AGM on 8 September 2010.

Right now there is bullish buying as some fund managers have suggested that its next target price should be beyond RM1.00. That is some way to go and so do not expect a straight as an arrow movement of RCE's price.

RCE has always been a defensive stock because its main credit business is underpinned by consumer credit to civil servants. Deduction is made at source and so default is not an issue.

RCE also buys doubtful debts from commercial banks and have a good performance in its recovery.

This is a penny stock counter to watch.

Singapore:Talent Destination

We have sadly the Malaysia Boleh phobia in this country. We pride ourselves as been the best and the 'mostest'. Yet, inside in all of us, we know we are just fooling around and we have shot our foot with all those policies that drive away our nation's best.

The little nation to the south of Johore has benefitted. New Zealand and Australia has too.

Even our policy and strategy thus far just to lure back our own talented Malaysians to come home to work for the nation has not seen success.

I wonder whether this new Talent Corporation will be another white elephant.

So a Gallup survey that tells us that Singapore continues to be far more successful than Malaysia at attracting human capital on popular immigration destinations which the island republic topped and Malaysia missing the top 20 cut comes as no surprise.

The city-state, with an impressive 18.1 per cent GDP growth in the first half of the year, would have tripled its population if everyone eyeing Singapore were allowed in, the poll released last Friday showed.

In that scenario the nation of 4.8 million would have spiked up to 15 million, a whopping 219 per cent increase.

On the other hand, Malaysia, with its relatively lacklustre economy and increasingly divided society, ended up only in the top 25 most popular destinations for migrants.

The poll found that if everyone were allowed to leave and enter as they pleased, Malaysia’s population would increase by 23 per cent to over 34 million, making it the 21st most popular immigration hotspot in the world.

Gallup researchers interviewed nearly 350,000 adults in 148 countries between 2007 and this year to calculate each country’s Potential Net Migration Index (PNMI).

The PNMI is the estimated number of adults who wish to permanently leave a country subtracted from the estimated number who wish to immigrate there, as a proportion of the total adult population.

Malaysia was the fourth most popular Asia-Pacific destination after Singapore, New Zealand and Australia, and the second-most popular in Southeast Asia following Singapore.

Other Southeast Asian countries fared comparatively worse. While Thailand would see a minimal drop of 1 per cent in its population, Indonesia would lose up to 5 per cent of its 230 million population if everyone who wanted to come in or leave could do so. This was followed by Laos (-9 per cent), Vietnam (-21 per cent), Philippines (-22 per cent).

And despite making great strides in economic growth, Asian giants China and India would both lose 6 per cent of their over 1 billion population if people were allowed to move freely.

Overall, the second-most popular destination was New Zealand, whose population of 4 million would rise by 184 per cent. Third was Saudi Arabia, whose population of 26 million would soar by 176 per cent.

Canada placed fourth with 160 per cent, Australia came in sixth with an index figure of 148 per cent, while the UK booked 12th place with 62 per cent.

The preferred destination of most would-be migrants is still the United States, although the already large US population of 300 million inhabitants means that the impact is less acutely felt, Gallup said.

The US is 14th on the net migration list, which means that if everyone who wanted to could enter the country, and all those who wished to leave did, its population would rise by about 60 per cent.

At the opposite end of the scale, the populations of Sierra Leone, Haiti and Zimbabwe would fall by more than half if migrants were allowed to leave at will.

Many countries in Africa and Latin America showed net outflows of population — although four African countries would gain residents, according to the poll.

They are Botswana, which would see its population increase by 39 per cent, South Africa, Zambia and Namibia, which would see rises of 13 per cent, 5 per cent and 2 per cent respectively.

Botswana, which ranks just after the US but above Norway on the list, is the world’s top producer of diamonds and a leading destination for high-end tourism. It prides itself as a model of successful democracy in Africa.

At rock-bottom on the Gallup list is Sierra Leone, the west African country still struggling to recover from a 10-year civil war which ended in 2002.

If everyone who wanted to leave Sierra Leone could, and everyone who wanted to move there did, its population would plunge by 56 per cent.

Haiti, the Americas’ poorest country, would lose 51 per cent of its population.

“While Gallup’s findings reflect people’s wishes rather than their intentions, the implications of what could happen if these desires become reality are serious considerations for leaders as they plan for the future,” said the organisation.

The lowest-ranked European Union member state on the list is Latvia, which would lose around a quarter of its population of 2.3 million if migrants were allowed to come in and go out as they wished.

To Excel in UPSR Exam: Section C of Paper 2

In Paper 2, Section C, you would see three pictures and have to expand from the notes to write a short essay. My advice here is to:

Use words that you need only when  the instruction reads,” You may use the words to help you”.

Take note of these:

1.                  Sentence Type

·         Write more than 2 sentences per paragraph. I would recommend three or four sentences for each paragraph.

·         Try to write a variety of sentences. For example :

Ø  A simple sentence (has only one idea)

Anand’s family gathered outside the house.

Ø  A compound sentence ( two ideas and uses connectors)

Anand’s family gathered outside the house and welcomed guests coming to their open house celebration.

Ø  A complex sentence ( a independent clause and a dependent clause)

Anand is an engineer who has just bought a house in Setia Wang.

2.                  Paragraphs.

Ø  Write three paragraphs.

Ø  Start each paragraph by beginning at least ¾ each from the margin.

Ø  Use the correct conjunctions or connectors to join the story in the three paragraphs. This will ensure smooth continuity.

3.                  Tenses

§  If you are telling about something that has already taken place, use the past tense.

§  If you are describing something happening at the time you are speaking or regularly use the present tense.

 

4.                  Subject- Verb Agreement

§  Make sure singular subjects attract singular verbs while plural subjects attract plural verbs.

For example:

ü  The dogs are fighting in the backyard.

ü  A cat is sleeping on the roof of the house.

ü  He does him howework every evening before dinner.

ü  The cows here eat the leaves from the low bushes beside grass.

5.                  Pronouns

§  Know how to use- he,him,his

§  Know how to use possessive pronouns and emphatic pronouns

ü  Possessive pronouns-mine, yours, theirs, ours,..

ü  Emphatic pronouns- myself, yourself, ourselves,..

6.                  Articles

Ø  Make sure articles such as a,an,the,__ are appropriate and correctly used before nouns.

7.                  Gender

§  Ensure you know your gender [ man versus woman]

8.                  Spelling

Ø  Check your spelling

Ø  Use words that you are sure of its spelling

9.                  Punctuation

Ø  Ensure you start a sentence with a capital letter. Also all proper nouns are in capital letters.

o   These are names of people, places, building names, rivers, oceans,etc]

Ø  All sentences must end with a full-stop, question mark or exclamation mark.

 

Model Answer:

Peggie bought some art supplies from a stationery shop near her house. She quickly went up to her room and quietly closed the door. Putting the things on her bedroom table, she relaxed a while before she began work to design a birthday card for her sister, Meggie.

With a pair of scissors, she deftly cut a red manila cardboard to carve out a birthday card. She folded the card into two and then she began to stick small dried  yellow flowers to the front of the card with glue. She also sprinkled glitter onto the glue beside the flowers. Peggie waited patiently for the glue to dry. After that, she penned a personal message for her beloved sister.

Looking about to ensure no one was looking, Peggie crept into Meggie’s room. She looked for a suitable place where Meggie would easily find the card. She then went to Meggie’s bed and put the card under her pillow. With a happy grin on her face, she left Meggie’s room with joy in her heart.

These are useful connectors.

Types	Connectors
Show  addition	and,both…and,as well as,along with,not only…but also,in addition to
Show contrast	but,however,yet,still, in spite of,despite,although
Show choice	or,or else,either…or,neither nor
Show reason	because,as,for, since
Show purpose	so that, so, so as to,in order to, in order that
Express time	as,when,while,as soon as,before,after,since,till,until
Show place	where
Show condition	if,unless
Show result	therefore,thus,so,so…that,such…that