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Monday, December 21, 2009

Sumpah tak ada projek !



Sedang Tok Moh menghirup air tiba tiba di tepuk bahunya oleh seseorang.

"Amboi .... sedapnya minum", tegur Dato Jais.
"Adusss .... opppsss ...celaka mak nko makan tempe!", latah Tok moh.

Dilihat belakang .. rupanya YB kampung Tok Moh datang menjenguk.

"Salam dulu Dato", kata Tok Moh sambil hulur tangan.
"Hai sihat ke .. lama teman tak dengo ceghita dari mike?", tanya Dato' lagi.

"Teman ada kat kampung ni je ... Tak kemane. Cuma teman baru dapat keghoje .. ", kata Tok Moh.
"Bagus tu ... Keghoje ape?", Dato' tanya lagi.

"Alahai .. setakat tukang kebun je ... ", jelas Tok Moh .. sambil memanggil pelayan memesan air untuk Dato Jais.

"Limah .. tolong buatkan Dato' ni air .. Dato' nak minum apa Tok?", tanya Tok Moh.
"Hish .. tak payoh le .. teman ada keghoje ni .. ", balas Dato'.

"Dato' sibuk ni macam ada projek beso jer .. ", sindir Tok Moh.
"Hish mane ade .. susah sekaghang ni .. nak cari projek pun susah", kata Dato.

"Betui ke nihh ... Jadi YB lagi susah nak dapat projek ke YB?", tanya Tok Moh lagi.
"Sumpah ... tak der projek ...! ", kata Dato lagi dan berlalu selepas bersalam.

"Teman pegi dulu la ye Tok Moh .. ", salam dan Dato' pun pergi ke arah keta nya.

Vrooooommmm ... kereta Mercedes BARU Dato' meluncur laju sambil tangannya melambai lambai ke arah Tok Moh .

Dalam hati Tok Moh berkata, "Hmm .. tak boleh caya orang politik ni"

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tok iskandar December 21, 2009 at 12:49 PM  

www.thestar.com.my
ruangan star biz

Friday December 18, 2009
Gamuda proposes way to value water assets
By SHARIDAN M. ALI


Discounted cashflow accounts for future profits to determine net present value

SHAH ALAM: Gamuda Bhd, one of the three main water concessionaires for Selangor, hopes the Federal Government will strongly consider using the discounted cashflow (DCF) valuation method when making the takeover offer for the concession assets.

This is following 15 months of futile negotiations between the Selangor government and the water players which had failed to reach an agreement as the offer was deemed “too low”.

Group managing director Datuk Lin Yun Ling said the real issue behind the failed negotiations was the price, as the value of the concession lay in the recurring earnings and not the net book value.
Over the last 10 years, we have invested a lot in making the plant cost efficient and increased our profit margin.

“Everything has turned out quite well and recurrent earnings have become quite substantial. Moreover, we still have another 20 years in the concession,” he told reporters after the company AGM yesterday.

The Federal Government, via Pengurusan Aset Air Bhd (PAAB), recently stepped in to resolve the takeover issue as it is a part of national initiative to regulate the water services industry for Peninsular Malaysia and Labuan under the Water Services Industry Act 2006 (WSIA).

Lin said DCF valuation was more suitable for the taking over of a concession asset as it accounted for the future profits (from the remaining future concession years) to determine the net present value.

“But we are willing to give a discount based on that valuation as a sign of goodwill,” he said.

PAAB was reported to make a new offer this week but nothing has been announced up to yesterday

tok iskandar December 21, 2009 at 12:50 PM  

Over the last 10 years, we have invested a lot in making the plant cost efficient and increased our profit margin.

“Everything has turned out quite well and recurrent earnings have become quite substantial. Moreover, we still have another 20 years in the concession,” he told reporters after the company AGM yesterday.

The Federal Government, via Pengurusan Aset Air Bhd (PAAB), recently stepped in to resolve the takeover issue as it is a part of national initiative to regulate the water services industry for Peninsular Malaysia and Labuan under the Water Services Industry Act 2006 (WSIA).

Lin said DCF valuation was more suitable for the taking over of a concession asset as it accounted for the future profits (from the remaining future concession years) to determine the net present value.

“But we are willing to give a discount based on that valuation as a sign of goodwill,” he said.

PAAB was reported to make a new offer this week but nothing has been announced up to yesterday.

The Selangor government, via Kumpulan Darul Ehsan Bhd (KDEB), had in February offered to acquire Puncak Niaga Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for RM3.12bil, Konsortium Abass Sdn Bhd (Abass) for RM525.67mil and Syarikat Pengeluar Air Sungai Selangor Bhd (Splash, in which Gamuda owns 40%) for RM2.06bil.

However, the offers were rejected by all four concessionaires as being too low.

In June, KDEB raised the offer price for PNSB and Syabas to RM5.297bil, Abass to RM1.892bil and Splash to RM2.975bil but it was rejected by both PNSB and Syabas, aborting the entire offer.

Lin said although the WSIA reportedly allowed the Energy, Green Technology and Water Minister to tear up the agreements that were entered into freely and willingly by both sides and could not be challenged in court, Article 13 of the Constitution clearly stated that no law shall provide for the compulsory acquisition or use of property without adequate compensation.

On Gamuda’s other businesses, Lin said the construction division was progressing well with its RM3bil works on Doha Airport and Sitra Causeway Bridges in Bahrain, both slated for completion by the end of next year.

“In Vietnam, for the Yen So Park construction, we have secured the sufficient financing of RM1.5bil, of which RM1bil is from banks and the remainder from the group’s equity,” he said.

He added that the company aimed for equal earnings contribution from its local and overseas jobs in the next financial year ending July 31, 2011.

Currently, two-thirds of the contribution comes from local projects and the rest from abroad.

Lin also said the electrified double-tracking project from Ipoh to Padang Besar would continue in the coming months as the Government had more or less finalised the land acquisition in Penang and Kedah.

“The Government has given us a one-year extension in view of the land acquisition delay. The completion of the project, as of now, is slated to be end of 2013,” he said.

The outlook was bright for its property development division, which was forecast to double its unbilled sales to RM1.5bil in two years from RM700mil currently, Lin added.

These positive developments were expected to contribute substantially to the group’s earnings in the current and next financial years, he said.

Gamuda posted a net profit of RM193.6mil in its financial year ended July 31, down 40.4% from a year ago

tok iskandar December 21, 2009 at 12:50 PM  

Over the last 10 years, we have invested a lot in making the plant cost efficient and increased our profit margin.

“Everything has turned out quite well and recurrent earnings have become quite substantial. Moreover, we still have another 20 years in the concession,” he told reporters after the company AGM yesterday.

The Federal Government, via Pengurusan Aset Air Bhd (PAAB), recently stepped in to resolve the takeover issue as it is a part of national initiative to regulate the water services industry for Peninsular Malaysia and Labuan under the Water Services Industry Act 2006 (WSIA).

Lin said DCF valuation was more suitable for the taking over of a concession asset as it accounted for the future profits (from the remaining future concession years) to determine the net present value.

“But we are willing to give a discount based on that valuation as a sign of goodwill,” he said.

PAAB was reported to make a new offer this week but nothing has been announced up to yesterday.

The Selangor government, via Kumpulan Darul Ehsan Bhd (KDEB), had in February offered to acquire Puncak Niaga Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for RM3.12bil, Konsortium Abass Sdn Bhd (Abass) for RM525.67mil and Syarikat Pengeluar Air Sungai Selangor Bhd (Splash, in which Gamuda owns 40%) for RM2.06bil.

However, the offers were rejected by all four concessionaires as being too low.

In June, KDEB raised the offer price for PNSB and Syabas to RM5.297bil, Abass to RM1.892bil and Splash to RM2.975bil but it was rejected by both PNSB and Syabas, aborting the entire offer.

Lin said although the WSIA reportedly allowed the Energy, Green Technology and Water Minister to tear up the agreements that were entered into freely and willingly by both sides and could not be challenged in court, Article 13 of the Constitution clearly stated that no law shall provide for the compulsory acquisition or use of property without adequate compensation.

On Gamuda’s other businesses, Lin said the construction division was progressing well with its RM3bil works on Doha Airport and Sitra Causeway Bridges in Bahrain, both slated for completion by the end of next year.

“In Vietnam, for the Yen So Park construction, we have secured the sufficient financing of RM1.5bil, of which RM1bil is from banks and the remainder from the group’s equity,” he said.

He added that the company aimed for equal earnings contribution from its local and overseas jobs in the next financial year ending July 31, 2011.

Currently, two-thirds of the contribution comes from local projects and the rest from abroad.

Lin also said the electrified double-tracking project from Ipoh to Padang Besar would continue in the coming months as the Government had more or less finalised the land acquisition in Penang and Kedah.

“The Government has given us a one-year extension in view of the land acquisition delay. The completion of the project, as of now, is slated to be end of 2013,” he said.

The outlook was bright for its property development division, which was forecast to double its unbilled sales to RM1.5bil in two years from RM700mil currently, Lin added.

These positive developments were expected to contribute substantially to the group’s earnings in the current and next financial years, he said.

Gamuda posted a net profit of RM193.6mil in its financial year ended July 31, down 40.4% from a year ago

tok iskandar December 21, 2009 at 12:55 PM  

Tabik kepada kerajaan pakatan rakyat selangor yang diketuai MB Khalid Ibrahim yang berusaha membela nasib rakyat marhain dan rakyat selangor sepatutnya merasa beruntung dapat kerajaan seperti pakatan rakyat.dahlah dapat air percuma,kerajaan pakatan rakyat berusaha mempertahankan pengurusan air selangor dan NGO juga rakyat selangor perlu bangkit mempertahankan kerajaan mereka.jika gagal korang semua kena bayar lebih caj air sampai 30%.mamak teh wunek RM2.50 segelas

tok iskandar December 21, 2009 at 1:01 PM  

Tabik kepada kerajaan pakatan rakyat selangor yang diketuai MB Khalid Ibrahim yang berusaha membela nasib rakyat marhain dan rakyat selangor sepatutnya merasa beruntung dapat kerajaan seperti pakatan rakyat.dahlah dapat air percuma,kerajaan pakatan rakyat berusaha mempertahankan pengurusan air selangor dan NGO juga rakyat selangor perlu bangkit mempertahankan kerajaan mereka.jika gagal korang semua kena bayar lebih caj air sampai 30%.mamak teh wunek RM2.50 segelas

tok iskandar December 21, 2009 at 1:06 PM  

dalam star biz akhbar the star hari jumaat 18 dis 2009 juga laporkan


CIMB in talks to sell down Seasam stake


KUALA LUMPUR: CIMB Bank Bhd is in talks with a few specialist parties to sell down its stake in its “bad bank” Southeast Asia Special Asset Management Bhd (Seasam) that manages its legacy non-performing loans (NPLs).

The country’s second largest bank by assets said it would consider a cross-listing in Indonesia if rules permitted.

“Logically, we would like to deconsolidate Seasam. (Selling) more than 51% would be nice,” CIMB Group chief executive Datuk Seri Nazir Razak told the media yesterday.

A wholly owned unit of CIMB, Seasam is a special purpose company that holds gross loans amounting to RM8.4bil and has a net book value of RM928mil.

CIMB yesterday signed a NPL sale agreement to dispose most of its legacy bad loans to Seasam.

The majority of the NPLs originated from the retail consumer segment and some dated back to the late 1990s, said CIMB in a statement.

It added that while the portfolio had been written down to RM928mil, the total value of the collateral was estimated to be RM2.1bil. Nazir feels Seasam would make a profit over time.

CIMB Bank inherited about RM14bil in legally claimable bad debts from its predecessor banks Bumiputra-Commerce Bank and Southern Bank with a net book value of RM4.8bil,

As at end 2006, the gross and net NPL ratios of the newly formed CIMB Bank were 9.7% and 6.1% respectively.

“Our strategies of reducing NPLs have been hugely successful with net book value of NPLs declining to RM2.3bil, or 52%, in less than 3 years.

“CIMB Bank’s gross and net NPL ratios (excluding CIMB Thai) have been brought down to 5.2% and 2.2% as at Sept 30, 2009,” said Nazir in a statement.

Nazir said the group was looking at the possibility of setting up a similar “bad bank” for its Thai business, where CIMB Thai had a bad debt value of RM300mil.

CIMB Group will seek a dual listing in Thailand next year as it wants to demonstrate its commitment to the country as well as to give investors there a sense of how big the group is.

hutang cimb cecah rm14 bilion.the star pernah melaporkan nazir razak ceo yang menerima gaji paling besar

tok iskandar December 21, 2009 at 1:11 PM  

macamana nazir adik najib pm kita boleh dapat gaji paling banyak antara ceo company yang dimilik kerajaan.cimb kita tahu bukan milik swasta.
ini boleh mendatangkan marah rakyat.MP Pakatan Rakyat boleh tanya di parlimen ni.

tok bukan macam cybertroopers totok umno,cakap tok penuh isi dan hujah tok bukan kosong.korang nilailah sendiri nak undi lagi ke tidak umno dan bn lepas ni

tok iskandar December 21, 2009 at 1:22 PM  

juga pada hari jumaat 18 dis 2009 ruangan star biz the star melaporkan

Friday December 18, 2009
Maybank completes An Binh stake buy


It now owns the maximum allowed 20% of the Vietnamese bank

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has completed the acquisition of 17.8 million shares or 5% in Vietnam’s An Binh Commercial Joint Stock Bank for about 356.3 billion dong (RM66.4mil).

“Currently, we have a 15% stake in An Binh Bank and the additional purchase will raise our stake to 20%,” president and chief executive officer Datuk Seri Abdul Wahid Omar said after a signing ceremony between Maybank and MoneyTree (M) Sdn Bhd to sponsor a year-long financial literacy programme for schoolchildren as well as the Maybank-MoneyTree Young Entrepreneur Start-up Challenger yesterday.

In a filing with Bursa Malaysia yesterday, Maybank Investment Bank Bhd said on behalf of Maybank that the bank currently held 60.56 million shares in An Binh following its latest acquisition

Maybank had on Dec 10 received a letter from An Binh Bank confirming, amongst others, that all approvals including regulatory approvals required from the Prime Minister’s Office, the State Bank of Vietnam and the State Securities Committee had been received.

Earlier, the country’s largest lender spent RM430mil to acquire a 15% stake in An Binh Bank.

With a 20% stake, Maybank’s holdings in the Vietnamese bank are at the maximum allowed for a foreign partner in Vietnam.

On another note, Wahid said Maybank’s exposure to Dubai was limited. “Our exposure is very small and it is manageable. It is less than 0.2% of our total assets,” he said.

To a question, he said: “Maybank has no intention of absorbing the RM50 service tax for credit cardholders proposed in Budget 2010.”

Wahid said if the bank were to absorb the service tax, it would defeat the Government’s purpose to encourage smart spending.

Maybank, which has about 1.6 million credit cards in circulation, is aggressively promoting debit-card usage

tok iskandar December 21, 2009 at 1:23 PM  

Senior executive vice-president and consumer banking head Lim Hong Tat said Maybankard Visa Debit cards, launched in March 2008, had grown to over one million cards and would hit two million in a month or two.

Commenting on its outlook, Wahid said the bank was bullish on the economy next year. “Our in-house economists expect the economy to grow 4.5% next year. We expect 2010 to be a better year on the backdrop of an improving economy.”

On its partnership with MoneyTree, he said the programme was part of Maybank’s corporate responsibility efforts to promote financial education and awareness among the younger generation and cultivate entrepreneurship among tertiary students.

“The programme will enable them to be savvy banking customers and avoid personal debts and business losses,” he said.

Both programmes are expected to benefit about 25,000 participants.

MoneyTree chairman Datuk Nik Kamaruddin Ismail said growing credit-card debts, overspending and inability to service bank loans were clear indicators of the growing need and importance of promoting financial literacy.

“We cannot play down the importance of helping the young develop good money habits,” he added

tok iskandar December 21, 2009 at 1:23 PM  

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has completed the acquisition of 17.8 million shares or 5% in Vietnam’s An Binh Commercial Joint Stock Bank for about 356.3 billion dong (RM66.4mil).

Maybank habiskan rm66.4 juta untuk beli 5% saham bank vietnam ni.berbaloi ke? Earlier, the country’s largest lender spent RM430mil to acquire a 15% stake in An Binh Bank.

RM66.4 juta tambah lagi RM430 juta untuk beli 20% saham bank ni.kos hampir setengah bilion tu.

sebelum ni maybak cetuskan kontroversi beli bank indonesia dengan kos yang merugikan dan dipertikaikan oleh lembaga pengarahnya.ada sumber memetik lembaga pengarah yang menentang telah disingkirkan.eloklah MP pakatan rakyat kaji perkara ni dan bawa ke parlimen.

Anonymous,  December 21, 2009 at 5:36 PM  

http://www.harakahdaily.net/v2/index.php?option=com_content&view=article&id=23801:perhentiasn-bas-kuala-berang-runtuh-&catid=41:utama-muka-depan&Itemid=125



terengganu darul runtuh

kah kah kah . . . kah kah kah . . .

kah kah kah . . . kah kah kah . . .

tok iskandar December 21, 2009 at 7:02 PM  

tok tak nak cakap banyak tapi bila melihat tindakan pemuda pas kelantan terus-terusan mendesak arifahmi letak jawatan segera nampak sangat nak beri peluru hidup kepada musuh PAS membedil mereka habis-habisan.
bukannya lama 3 bulan tu...tok tak nampak isu ni boleh jejaskan PAS.Setahu tok isu ni kan dah selesai.
tok nampak ada jarum halus nak laga-lagakan ketua pemuda PAS Kelantan dengan arifahmi yang juga exco pemuda PAS Kelantan
Kalau dah pemuda PAS Kelantan berantakan,siapa nak pertahankan kerajaan PAS Kelantan yang diketuai tok guru nik aziz.
Nanti musuh PAS boleh pertikai dan cakap belum dapat royalti minyak dah gaduh-gaduh.
sekarang PAS Kelantan perlu bersatu padu di belakang tok guru nik aziz.
ingatlah kerajaan PAS Kelantan adalah tonggak kekuatan PAS macam umno di Johor.
buat apa gaduh sama sendiri.memang korang cakap tak gaduh sama sendiri tapi bila dah bersuara dalam media totok umno..apa ke jadahnya.rakyat akan ingat korang bergaduh
berfikirlah dengan bijaksana
eloklah korang semua solat hajat dengan tok guru nik aziz jumaat ni dan sama-sama berdoa minta dipertahankan kerajaan pas kelantan.
tok bukan nak sebelah arifahmi tapi dia juga ada hak untuk membela diri
kita kena ingat kita bukan macam umno yang seronok tengok sahabat sendiri jatuh.budaya cantas mencantas dah lama ada dalam umno
itu bukan budaya PAS dan jangan sekali-kali bawa budaya itu ke dalam PAS

ketua polis December 21, 2009 at 9:58 PM  

tok moh baru bangun tidur kot..!!!

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