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  Singapore Flyer operator runs into financial trouble
Posted by: Musicwhiz - 29-05-2013, 06:41 AM - Forum: Others - Replies (12)

Disappointing, but not unexpected. It must cost a bomb to operate that huge wheel!

The Straits Times
www.straitstimes.com
Published on May 29, 2013
Singapore Flyer operator runs into financial trouble

Main lender says it is owed money and places firm under receivership
By Jessica Lim Consumer Correspondent

THE company behind the Singapore Flyer has been placed under receivership by its main lender, just five years after it opened.

The Straits Times understands that the main lender is a bank which has taken action because it is owed money by the wheel's operator, Singapore Flyer Pte Ltd.

Partner Tim Reid of the appointed recovery firm Ferrier Hodgson said he was confident that the receivers would be able to "identify investors with the vision to manage, diversify and enhance the Singapore Flyer, thereby securing its long-term future as a significant Singapore attraction".

Mr Reid, along with Ms Theresa Ng and Mr Tan Aik Kiat, were appointed as receivers and managers yesterday. Expressions of interest will be called shortly.

Adding that the company would work with tour operators to ensure smooth operations throughout the receivership, Mr Reid said it would be "business as usual" at the Singapore Flyer.

A check of the Accounting and Corporate Regulatory Authority's database showed Singapore Flyer Pte Ltd has three directors: British citizen Paul Francis Hodgson, Dutchman David Paulus Schuilwerve and Singaporean Ong-Hahl Boon Li Patsy.

The 165m-high wheel was officially launched here in April 2008 to much fanfare.

Trouble surfaced soon after.

In December 2008, the wheel was shut for a month after it broke down, leaving passengers stranded for close to six hours in its cabins. After the incident, a group of 14 business owners took legal action against the company for losses incurred during the breakdown.

In 2009, the company's German investors tried to oust several Singapore Flyer board members, citing under-performance. Rider numbers have also been reported to be below targets.

Mr Gevin Png, a senior lecturer at Temasek Polytechnic's hospitality and tourism management programme, put the Singapore Flyer's situation down to the lack of a local customer base.

"Locals are priced out and they can view similar scenery from tall buildings nearby. It's not unique," he said, adding that attractions need local support to be successful. "Look at the Singapore Zoo. It is packed with locals on weekends."

Profit margins have also been watered down by steep discounts given to travel agents in recent times to entice them to include the Singapore Flyer in their tour packages, he said.

An adult ticket for a ride there is priced at $33. Children aged three to 12 pay $21. Those below the age of three ride for free.

The Singapore Tourism Board, which leases land to the Singapore Flyer, told The Straits Times it will be "engaging the various parties involved to ensure the best possible outcome that enhances the tourism sector".

However, liquidators like Mr Abuthahir Abdul Jafoor of the accounting firm Stone Forest Corporate Advisory point to the possibility of a bleaker picture.

"If the sale of the assets does not cover the debt, the company could potentially be wound up," he said. "If that happens, any remaining assets would be sold off to the highest bidder including overseas buyers."

Singaporeans such as Ms Poh Yen Li, 29, said they hope the Flyer continues to operate.

The accountant, who has taken rides there five times, called it an "iconic attraction". "It really defines the skyline. It would be a pity to see it go," she said. "It's a fun experience but the tickets are quite expensive."

limjess@sph.com.sg

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  Carjack victim recounts his harrowing night
Posted by: rogerwilco - 25-05-2013, 05:15 PM - Forum: Others - No Replies

http://www.boston.com/metrodesk/2013/04/...story.html#

By Eric Moskowitz, Globe Staff 04/25/2013 9:36 PM

The 26-year-old Chinese entrepreneur had just pulled his new Mercedes to the curb on Brighton Avenue to answer a text when an old sedan swerved behind him, slamming on the brakes. A man in dark clothes got out and approached the passenger window. It was nearly 11 p.m. last Thursday.

The man rapped on the glass, speaking quickly. Danny, unable to hear him, lowered the window -- and the man reached an arm through, unlocked the door, and climbed in, brandishing a silver handgun.
“Don’t be stupid,” he told Danny. He asked if he had followed the news about Monday’s Boston Marathon bombings. Danny had, down to the release of the grainy suspect photos less than six hours earlier.

“I did that,” said the man, who would later be identified as Tamerlan Tsarnaev. “And I just killed a policeman in Cambridge.”

He ordered Danny to drive -- right on Fordham Road, right again on Commonwealth Avenue -- the beginning of an achingly slow odyssey last Thursday night and Friday morning in which Danny felt the possibility of death pressing on him like a vise.

In an exclusive interview with the Globe on Thursday, Danny -- the victim of the Tsarnaev brothers’ much-discussed but previously little-understood carjacking -- filled in some of the last missing pieces in the timeline between the murder of MIT police officer Sean Collier, just before 10:30 p.m. on April 18, and the Watertown shootout that ended just before 1 a.m. Danny asked that he be identified only by his American nickname.

The story of that night unfolds like a Tarantino movie, bursts of harrowing action laced with dark humor and dialogue absurd for its ordinariness, reminders of just how young the men in the car were. Girls, credit limits for students, the marvels of the Mercedes ML 350 and the iPhone 5, whether anyone still listens to CDs -- all were discussed by the two 26-year-olds and the 19-year-old driving around on a Thursday night.

Danny described 90 harrowing minutes, first with the younger brother following in a second car, then with both brothers in the Mercedes, where they openly discussed driving to New York, though Danny could not make out if they were planning another attack. Throughout the ordeal, he did as they asked while silently analyzing every threatened command, every overheard snatch of dialogue for clues about where and when they might kill him.

“Death is so close to me,” Danny recalled thinking. His life had until that moment seemed ascendant, from a province in central China to graduate school at Northeastern University to a Kendall Square start-up.

“I don’t want to die,” he thought. “I have a lot of dreams that haven’t come true yet.”

After a zigzagging trek through Brighton, Watertown, and back to Cambridge, Danny would seize his chance for escape at the Shell Station on Memorial Drive, his break turning on two words -- “cash only” -- that had rarely seemed so welcome.

When the younger brother, Dzhokhar, was forced to go inside the Shell Food Mart to pay, older brother Tamerlan put his gun in the door pocket to fiddle with a navigation device -- letting his guard down briefly after a night on the run. Danny then did what he had been rehearsing in his head. In a flash, he unbuckled his seat belt, opened the door, stepped through, slammed it behind, and sprinted off at an angle that would be a hard shot for any marksman.

“F---!” he heard Tamerlan say, feeling the rush of a near-miss grab at his back, but the man did not follow. Danny reached the haven of a Mobil station across the street, seeking cover in the supply room, shouting for the clerk to call 911.

His quick-thinking escape, authorities say, allowed police to swiftly track down the Mercedes, abating a possible attack by the brothers on New York City and precipitating a wild shootout in Watertown that would seriously wound one officer, kill Tamerlan, and leave a severely injured Dzhokhar hiding in the neighborhood. He was caught the following night, ending a harrowing week across Greater Boston.

Danny spoke softly but steadily in a 2 1/2 hour interview at his Cambridge apartment with a Globe reporter and a Northeastern criminology professor, James Alan Fox , who had counseled Danny after the former graduate student approached his engineering adviser at Northeastern.

Danny, who offered his account only on the condition that the Globe not reveal his Chinese name, said he does not want attention. But he suspects his full name may come out if and when he testifies against Dzhokhar Tsarnaev.

“I don’t want to be a famous person talking on the TV,” Danny said, kneading his hands, uncomfortable with the praise he has received from the few friends he has shared the story with, some of whom encouraged him to go public. “I don’t feel like a hero. ... I was trying to save myself.”

Danny, trained as an engineer, made scrupulous mental notes of street signs and passing details, even as he abided the older Tsarnaev’s command not to study his face.

“Don’t look at me!” Tamerlan shouted at one point. “Do you remember my face?”

“No, no, I don’t remember anything,” he said.

Tamerlan laughed. “It’s like white guys, they look at black guys and think all black guys look the same,” he said. “And maybe you think all white guys look the same.”

“Exactly,” Danny said, though he thought nothing of the sort. It was one of many moments in their mental chess match, Danny playing up his outsider status in America and playing down his wealth -- he claimed the car was older than it was, and he understated his lease payments -- in a desperate hope of extending his life.

Danny had come to the US in 2009 for a master’s degree, graduated in January 2012, and returned to China to await a work visa. He came back two months ago, leasing a Mercedes and moving into a high-rise with two Chinese friends while diving into a startup. But he told Tamerlan he was still a student, and that he had been here barely a year. It seemed to help that Tamerlan had trouble understanding even Danny’s pronunciation of the word “China.”

“Oh, that’s why your English is not very good,” the brother replied, finally figuring it out. “OK, you’re Chinese ... I’m a Muslim.”

“Chinese are very friendly to Muslims!” Danny said. “We are so friendly to Muslims.”

When the ordeal had started, Danny prayed it would be a quick robbery. Tamerlan demanded money, but Danny had just $45 in cash -- kept in the armrest -- and a wallet full of plastic. Evidently disappointed to get so little out of holding up a $50,000 car, he told Danny to drive. The old sedan followed.

“Relax,” Tamerlan said, when Danny’s nerves made it hard for him to stay in the lane. Danny, recalling the moment, said “my heart is pounding so fast.”

They lapped Brighton and crossed the Charles River into Watertown, following Arsenal Street. Looking through Danny’s wallet, Tamerlan asked for his ATM code -- a friend’s birthdate.

Directed to a quiet neighborhood in East Watertown, Danny pulled up as told on an unfamiliar side street. The sedan stopped behind him. A man approached -- the skinnier, floppy-haired “Suspect No. 2” in the photos and videos released by investigators earlier that evening -- and Tamerlan got out, ordering Danny into the passenger seat, making it clear if he tried anything he would shoot him. For several minutes, the brothers transferred heavy objects from the smaller car into Danny’s SUV. “Luggage,” Danny thought.

With Tamerlan driving now, Danny in the passenger seat, and Dzhokhar behind Danny, they stopped in Watertown Center so Dzhokhar could withdraw money from the Bank of America ATM using Danny’s card. Danny, shivering from fear but claiming to be cold, asked for his jacket. Guarded by just one brother, Danny wondered if this was his chance, but he saw around him only locked storefronts. A police car drove by, lights off.

Tamerlan agreed to retrieve Danny’s jacket from the back seat. Danny unbuckled, put on the jacket, then tried to buckle the seatbelt behind him to make an escape easier.

“Don’t do that,” Tamerlan said, studying him. “Don’t be stupid.”

Danny thought about his burgeoning startup and about a girl he secretly liked in New York. “I think, ‘Oh my god, I have no chance to meet you again,’ ” he recalled.

Dzhokhar was back now. “We both have guns,” Tamerlan said, though Danny had not seen a second weapon.

He overheard them speak in a foreign language -- “Manhattan” the only intelligible word to him -- and then ask in English if Danny’s car could be driven out of state. “What do you mean?” Danny said, confused. “Like New York,” one of the brothers said.

They continued west on Route 20, in the direction of Waltham and Interstate 95, passing a police station. Danny tried to send telepathic messages to the officers inside, imagined dropping and rolling from the moving car.

Tamerlan asked him to turn on and demonstrate the radio. The older brother then quickly flipped through stations, seemingly avoiding the news. He asked if Danny had any CDs. No, he replied, he listens to music on his phone. The tank nearly empty, they stopped at a gas station, but the pumps were closed.

Doubling back, they returned to the Watertown neighborhood -- “Fairfield Street,” Danny saw on the sign this time -- and grabbed a few more things from the parked car, but nothing from the trunk. They put on an instrumental CD that sounded to Danny like a call to prayer.

Suddenly, Danny’s iPhone buzzed. A text from his roommate, wondering in Chinese where he was. Barking at Danny for instructions, Tamerlan used an English-to-Chinese app to text a clunky reply. “I am sick. I am sleeping in a friend’s place tonight.” In a moment, another text, then a call. No one answered. Seconds later, the phone rang again.

“If you say a single word in Chinese, I will kill you right now,” Tamerlan said. Danny understood. His roommate’s boyfriend was on the other end, speaking Mandarin. “I’m sleeping in my friend’s home tonight,” Danny replied in English. “I have to go.”

“Good boy,” Tamerlan said. “Good job.”

The SUV headed for the lights of Soldiers Field Road, banking across River Street to the two open gas stations. Dzhokhar went to fill up using Danny’s credit card, but quickly knocked on the window. “Cash only,” he said, at least at that hour. Tamerlan peeled off $50.

Danny watched Dzhokhar head to the store, struggling to decide if this was his moment -- until he stopped thinking about it, and let reflexes kick in.

“I was thinking I must do two things: unfasten my seatbelt and open the door and jump out as quick as I can. If I didn’t make it, he would kill me right out, he would kill me right away,” Danny said. “I just did it. I did it very fast, using my left hand and right hand simultaneously to open the door, unfasten my seatbelt, jump out...and go.”

The car faced west, upriver. Danny sprinted between the passenger side of the Mercedes and the pumps and darted into the street, not looking back, drawn to the lights of the Mobil.

“I didn’t know if it was open or not,” he said. “In that moment, I prayed.”

The brothers took off. The clerk, after brief confusion, dialed 911 on a portable phone, bringing it to Danny in the storeroom. The dispatcher told him to take a deep breath. The officers, arriving in minutes, took his story -- with Danny noting that the car could be tracked by his iPhone and by a two-way Mercedes satellite system known as mbrace. The clerk gave him a bottled water.

After an hour or more talking to authorities -- as the shootout and manhunt erupted in Watertown -- police brought Danny out to East Watertown for a “drive-by lineup,” studying faces of detained suspects in the street from the safety of a cruiser. He recognized none of them. He spent the night talking to local and state police and the FBI, appreciating the kindness of a state trooper who gave him a bagel and coffee. At 3 the next afternoon, they dropped Danny back in Cambridge.

“I think, Tamerlan is dead, I feel good, obviously safer. But the younger brother -- I don’t know,” Danny recalled thinking, wondering if Dzhokhar had discovered his address and would come looking for him. But the police knew the wallet and registration were still in the bullet-riddled Mercedes, and that a wounded Dzhokhar had likely not gotten very far. That night, they found him in a boat.

When news of the capture broke last Friday, Danny’s roommate called out to him from in front of the living room television. Danny was on the phone at the time, talking to the girl in New York.

Eric Moskowitz can be reached at emoskowitz@globe.com.

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  Many upbeat about equities: Survey
Posted by: Musicwhiz - 19-05-2013, 09:28 AM - Forum: Others - Replies (13)

Sounds like the frothiness is building up, slowly no doubt, but surely.

The Straits Times
www.straitstimes.com
Published on May 19, 2013
Many upbeat about equities: Survey

But there seems to be disconnect between optimism and how much investors plan to put in equities

By Anita Gabriel, Senior Correspondent

More than half of Singapore investors have turned more optimistic about investment opportunities and could return to the stock market in a big way this year, a recent poll indicates.

And nearly three-quarters of investors - 73 per cent of those polled - believe equities will do well this year, according to Schroders Global Investment Trends Report.

This compares favourably with the global scenario, where some 48 per cent of investors are more upbeat over investment prospects this year than they were last year.

"Investors intend to return to the market in great numbers this year and see opportunities for growth, notably in equities and in Asia," said Schroder Investment Management (Singapore) managing director Susan Soh.

Yet, they are certainly not throwing caution to the wind. There appears to be a disconnect between their optimism over equities and how much they plan to invest in this asset class.

Only 22 per cent are planning to allocate investable funds to high-risk assets - equities - with 42 per cent opting for low-risk investments such as bonds.

One key reason is that most investors here value income generation over capital growth.

The other top asset classes which Singapore investors believe will fare well this year are gold, followed by corporate and government bonds.

But worries that weighed on investors' minds last year still persist.

"It is interesting that while investor confidence is returning, there are still concerns over key risks such as inflation and the euro zone problems," said Ms Soh.

The survey polled 518 investors in Singapore and more than 14,800 active investors across 20 countries in Europe, Asia and the United States.

The chief concern among investors - raised by more than 48 per cent of them - is rising inflation while other key worries include the persistent euro zone debt woes and a weak or prolonged global economic recovery.

In terms of investment budget, Singapore investors are looking to invest close to $80,000 this year on average.

Just under half, or 45 per cent, are planning to invest between $16,000 and $50,000.

More than a quarter are looking to invest $100,000 or more.

Most Singapore investors, or 65 per cent, prefer to invest in the domestic market as they believe it has the best growth potential in the region.

Among the developed economies in Asia, Singapore ranks third in terms of the highest number of investors who have faith in their own markets, with Indonesia topping the list with 86 per cent, followed by Thailand with 70 per cent.

Globally, the home bias stands at 80 per cent among US investors, 55 per cent among Asian investors and 40 per cent among European investors - understandably the lowest given the protracted debt malaise.

The Asia-Pacific region is the most attractive to investors and the pick for 52 per cent of Asian investors and 42 per cent of European investors.

Among Singapore investors, 62 per cent favour this region in terms of rosy investment prospects.

"The findings show that investor sentiment is changing globally with a growing consensus among investors that the global recovery is gathering pace, though at different rates around the world," said Ms Soh.

"With the growing investment appetite, we believe 2013 could be the watershed year in the journey back to a more robust global investment environment," she added.

anitag@sph.com.sg

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  Parking meter ‘Robin Hoods’ provoke city’s ire
Posted by: CityFarmer - 16-05-2013, 04:52 PM - Forum: Others - No Replies

Interesting thing done by this guy, James Cleaveland... ha...ha... He did nothing wrong IMO

I wonder what will happen if one does the same in Singapore?

Parking meter ‘Robin Hoods’ provoke city’s ire

LITTLETON (New Hampshire) — In December, James Cleaveland made an unusual New Year’s resolution: To do all he could to keep the police in the city of Keene, New Hampshire, from issuing parking tickets.

Cleaveland and a group of friends took to the streets with pocketfuls of change and began shadowing the city’s three parking enforcement officers, stuffing coins in expired meters before they could issue US$5 (S$6.23) tickets.

http://www.todayonline.com/world/quirky-...-citys-ire

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  Catalist still a work in progress
Posted by: Musicwhiz - 13-05-2013, 07:50 AM - Forum: Others - No Replies

The Straits Times
www.straitstimes.com
Published on May 13, 2013
CAI JIN
Catalist still a work in progress


By Goh Eng Yeow Senior correspondent

ON THE face of it, Catalist - the junior board established by the Singapore Exchange (SGX) five years ago to replace Sesdaq - seems to be a resounding success.

Certainly the statistics are impressive: Since its inception, Catalist has attracted 48 initial public offerings (IPOs) which have raised about $504 million.

Catalist-listed companies have also raised another $1.1 billion to fund their business expansion.

However, take a closer look and a different picture emerges in terms of the profile of the companies listing on Catalist.

The junior board has no trouble attracting small companies, which make less than $10 million in pre-tax profit.

But there appears to be a dearth of larger IPOs from medium-sized companies, earning $20 million or more.

For the wider SGX, this issue is about to become more acute.

The bourse operator has raised the bar for a mainboard listing, requiring a company to have a market value of at least $150 million if it is profitable in the last financial year, or a minimum pre-tax profit of at least $30 million to qualify.

So if these medium-sized companies continue to shun Catalist, they will have to look for an alternative exchange to list.

That would be a pity. Some of these mid-sized firms are home-grown companies whose names would be familiar among investors here, unlike many of the bigger foreign companies now beating a path to the SGX.

Before Catalist was established, medium-sized firms could at least turn to Sesdaq to list their shares.

But then the SGX decided to overhaul Sesdaq in 2007 and graft a model, based on London's Alternative Investment Market, onto it in order to try to attract less mature companies and firms with no track record from around the region to list here.

That seemed like a sensible idea at the time. It ensured that the new board would have a critical mass of established listed firms to support it while it went about luring fast-growing regional ones to list here.

Catalist also offered several attractive features that were absent from Sesdaq: It did away with the need for a company to formally demonstrate a business track record to meet financial entry requirements. Once it is listed, a company also gets a freer hand to raise funds and engage in merger-and-acquisition activities.

But the attractions come at a price. A Catalist-listed firm is required to hire a sponsor to hold its hand while it is listed, and that means additional costs. It faces delisting if the sponsor walks out and it is unable to find a replacement.

The prospectus it issues to sell its shares comes with a high-profile warning that "companies listed on Catalist may carry higher investment risk when compared with larger or more established companies listed on the mainboard of the SGX".

It is a proviso unlikely to sit well with bosses at local mid-sized companies. Just because their companies fail to meet the mainboard listing criteria does not necessarily make them any riskier than the foreign companies beating a path here.

Then there is the start-up image which Catalist seems to invoke. It does not help the junior board's cause that every prospectus issued by a Catalist IPO aspirant must come with a clause underscoring the fact that "companies may list on Catalist without a track record of profitability".

For some investors, it flags a fundamental shift in the make-up of companies which are listed on Catalist as compared with those which made up Sesdaq.

The Central Provident Fund (CPF), for example, allowed its members to continue investing in Sesdaq-listed firms which migrated to Catalist, if these companies had already qualified as CPFIS investments.

But it has so far refused to accord companies which launched Catalist IPOs the same privilege. It flagged the worry that as the board listed firms "in their earlier stages of development with limited track record", it needed more time to assess if this made them suitable investments for those investing their retirement savings.

There is another concern: the ability of Catalist-listed firms to make the transition to the mainboard.

Although Catalist was established more than five years ago, only three of the 48 firms which started as IPOs there, have succeeded in making the leap.

This is in stark contrast to the old Sesdaq, which incubated many successful mainboard listings such as Venture Corp and Datapulse Technology.

So what can be done? For one thing, Catalist clearly needs to polish its image if it is to entice decent mid-sized firms to list. It also has to work out a plan to nurture its charges to enable them to qualify for the bigger, more sophisticated mainboard.

Catalist also has to convince powerful bodies such as CPF that Catalist-listed firms make viable investments for their members.

It certainly has its work cut out for it.

engyeow@sph.com.sg

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  KFC and MCDonald
Posted by: Bruno - 03-05-2013, 09:39 PM - Forum: Others - No Replies

[Image: thumb_320_5140366c651c1_5140366c6615d.jpg]
KFC vs MCDonald Dodgy

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  Hide and Seek champion
Posted by: Bruno - 03-05-2013, 09:09 PM - Forum: Others - No Replies

[Image: 297991_494518623953895_280896098_n_zps54...1367586370]
Hide and Seek champion
true Tongue

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  Sony executives give up bonuses
Posted by: pianist - 01-05-2013, 08:13 PM - Forum: Others - No Replies

AFP

Wednesday, May 01, 2013


TOKYO - Dozens of Sony executives including the firm's chief are foregoing bonuses this year in an "unprecedented" step to atone for a slump in its embattled electronics unit, a spokeswoman said Wednesday.

Chief executive Kazuo Hirai is among 40 top managers who will not get a bonus estimated at several hundred million yen (several million dollars) "due to severe business circumstances, including stagnant performance in the electronics sector", the spokeswoman said.

The leading Nikkei business daily said the payout could have totalled 1.0 billion yen (US$10 million).

Last year, seven top Sony executives gave up their bonuses "but the number this time is unprecedented," she added.

The decision comes as the maker of PlayStation consoles eyes a profit after four years in the red. But its troubled electronics unit may remain mired in losses despite Hirai's bid to drag it back to profitability.

Sony has launched a massive corporate overhaul that includes thousands of job cuts as it unloads a string of assets, including buildings in Manhattan and Tokyo.

Last week, Sony doubled its annual net profit forecast for the last fiscal year to March, saying it expected to earn 40 billion yen as a weaker yen and the asset sales helped boost its bottom line.

Sony lost 456.66 billion yen in the fiscal year to March 2012, its fourth year in the red.

A tumble in the value of the yen in recent months - losing about a fifth against the dollar since November - has helped exporters make their products move competitive.

Sony reports its full-year results on May 9.

The firm's Tokyo-listed shares, which last year fell below 1,000 yen for the first time since the era of the Walkman, closed down 1.85 per cent to 1,583 yen on Wednesday.

Japan's electronics sector, including Sony rivals Panasonic and Sharp, has suffered myriad problems recently including slowing demand in key export markets, fierce competition - especially in the struggling TV division - and strategic mistakes.
- See more at: http://business.asiaone.com/news/news/so...w5GoZ.dpuf

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  The Mysterious Difference Between Those Who Make It Rich And Those Who Don't
Posted by: rogerwilco - 29-04-2013, 08:42 AM - Forum: Others - Replies (1)

James Altucher, The Altucher Confidential Apr. 28, 2013, 9:03 AM
http://www.businessinsider.com/how-to-be...ush-2013-4

Rob told me JB was dead. JB was my best friend growing up. We sat next to each other on the bus. After school we’d play ping pong or pinball or monopoly or ride bikes.

Every single day we did this for eight years. Then we drifted apart. Rob said, The last time I spoke to him he sounded like a ghost. It was like there was nothing there, Rob said.

I hadn’t seen JB in 20 years.

He dropped out of college, Rob said, and never really had a job. His parents gave him money to live. He didn’t want to do anything.
He changed his phone number every few weeks, Rob said. So he was hard to keep in touch with.

I didn’t understand. Why did he change his number every few weeks?

He’d meet a girl, and then a few weeks later he’d get tired of her but not want to deal with it. He’d change his number so the girl couldn’t reach him, Rob said. And he moved a lot.

He had no Facebook page, no internet presence, it was hard to track him down, Rob said. And it’s true. I had never found him on the Internet.

JB hurt his leg a few years ago, Rob said, and had no insurance because he never had a job. So got addicted to painkillers. He was into the drug scene, Rob said.

So no job, drifting phone numbers, a hazy identity, drug, nerve damage, pain killers.

One day he never woke up, Rob said.

He was 39.

I don’t feel sad about this. People die. I haven’t seen him since we were 18 and on graduation day. But I wonder about one thing Rob said.

“He was like a ghost the last time I spoke with him.”

We know when the body and mind are giving up. We know when spirit is exhausted. When the emotions don’t care.

He never had anything he wanted to do, Rob said.

Is that all it is? Do we just need something to do? Something that we want to scratch just a tiny bit so we continue one more day?

We don’t have to save the world. Or invent warm ice. Or time travel. Or even have a passion or a purpose.

When I was dead broke and crying I wanted to die just so my kids could have my life insurance policy. What got me to get up and go again? And then later, when it happened again. And then again.

Why didn’t JB do that? I call it “the push”.

You’re riding the bicycle up the hill all the time in life. Everything in life wants you to decay. To be subjugated. To be violated. To be tired. To become a ghost. To roll back down the hill just when you thought you were close to the top. It’s fucking tiring to live.

What can give us THE PUSH? I don’t know.

For me, today, it’s just this post. Some days, it’s to see my 11 year old smile. Sometimes, I just want to take a walk. Or help Claudia. Or do something fun and creative.

What’s your PUSH today?

A little bit, every day, compounds. A little push today turns into a big life tomorrow. My one requirement: I have to give something. I have to enjoy it. Else, it’s too draining. It’s a Sh** stain. I slip back on the hill. A deep breath. You can do it, I tell myself. One more turn of the pedals.

THE PUSH!

Get over the hill!

I want to live.

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  Bloomberg: Malaysian Chinese May Drop Najib as Fear of Riot Repeat Ebbs
Posted by: rogerwilco - 28-04-2013, 07:21 PM - Forum: Others - No Replies

http://www.bloomberg.com/news/print/2013...-ebbs.html

By Daniel Ten Kate - Apr 26, 2013
Malaysian businessman Stanley Thai says he’s joining thousands of fellow ethnic Chinese citizens in abandoning support for Prime Minister Najib Razak and voting for the opposition for the first time in elections next month.

“Why are the Chinese against the government -- it’s simple,” Thai, 53, owner of medical glove-maker Supermax Corp. (SUCB), said in an interview last month. “We don’t want our children to suffer what we suffered, deprived from education, from career opportunities, from business opportunities.”

Chinese, who make up about a quarter of Malaysia’s population, are growing intolerant of affirmative-action programs for Malays propagated by Najib’s alliance of parties, the most recent national poll indicates. Any mass defection by Chinese voters raises the risk of the ruling coalition’s first election loss since it was formed after 1969 race riots.

The violence of 1969 helped persuade many Chinese to back Barisan Nasional, which Najib has led since 2009, as they accepted racial preferences for Malays as the cost of peace. Thai said thinking changed when the government’s electoral take sank in 2008 with little sign of renewed social unrest. “Everyone said, ‘Wow, the time has come,’” he said.

Now, the opposition, led by Anwar Ibrahim, sees the end of race-based policies that have hindered companies such as Supermax as key to long-term economic growth. Najib counters that his gradual reform of the affirmative-action programs will assure stability and avert a slide in stocks and the ringgit that would accompany any opposition victory.

Vision Contest

“It’s a contest ultimately about visions -- do you believe the country is Malay-centered or a state of all its citizens?” said Clive Kessler, emeritus professor at the University of New South Wales in Sydney, who has studied Malaysian politics for half a century. “Najib no longer has adequate non-Malay support,” said Kessler, who estimates the ruling coalition must win about two-thirds of Malay votes to stay in power.

The FTSE Bursa Malaysia KLCI Index (FTSEMIB), which has lagged other Southeast Asian benchmarks this year, gained 0.3 percent today to close at a record high. The ringgit advanced for a third day, the longest rally in three weeks, on speculation further monetary easing in Japan and Europe will boost demand for emerging-market assets.

Anwar’s Group

About half of Malaysia’s 29 million people are Malays, while roughly a quarter have Chinese roots and the rest are mostly ethnic Indians or indigenous groups. One in five ethnic Chinese think the country is headed in the right direction, compared with 75 percent of Malays, according to a February survey by the Merdeka Center for Opinion Research, the most recent available.

In 2008, the ruling 13-party Barisan Nasional coalition won by its slimmest margin since it was formed, with three Chinese parties losing half their parliamentary seats. Anwar’s own multi-racial coalition, which includes a Chinese-majority party and a mostly Malay party that advocates Shariah law in criminal matters, has pledged to eliminate race-based policies to fight corruption.

“What we’re seeing with the implementation of the policy is enormous rent-seeking and patronage and corruption,” said Edmund Terence Gomez, a professor at University of Malaya in Kuala Lumpur who edited a book on the affirmative-action program. “The electoral trends clearly indicate that Malaysians are saying they’ve had enough of race-based politics.”

Malay Preferences

In 1969, Malaysia suspended parliament for more than a year after race riots in the wake of a close election killed hundreds of people. Abdul Razak, Najib’s father, then initiated the racial preferences in 1971 as the country’s second prime minister.

The New Economic Policy sought to raise the share of national wealth to at least 30 percent for Malays and indigenous groups known as Bumiputera, or “sons of the soil,” that make up about 60 percent of the population. They got cheaper housing and quotas for college places, government contracts and shares of listed companies.

While Najib has tweaked the policy for publicly traded firms and extended benefits to poorer members of all races, many other elements remain intact. Malaysia favors Bumiputera companies in awarding contracts from the government and state- owned enterprises, the U.S. Trade Representative wrote in a March report.

“We don’t play the racial card -- we play a moderate Malaysia, an inclusive Malaysia and we’re talking about power sharing,” Najib said in an April 17 interview. “That’s the kind of storyboard that we are trying to convince the Malaysian Chinese.”

College Rejection

Thai, whose father fled China in 1949 during the Communist takeover, is dubious. After growing up on a farm with 13 siblings in Johor, which borders Singapore, he failed to gain entry to a university where Malays received priority and moved to Canada to get a college degree. On his return, he built a business aimed at exporting rubber gloves to avoid restrictions on selling within Malaysia.

Supermax, the nation’s third-largest medical glove-maker, now exports 24 billion gloves a year, said Thai, whose holdings in the company are worth about $93 million. For years he and other Chinese entrepreneurs were wary of publicly speaking out about corruption in the 42-year-old affirmative action program due to concerns of reprisals.

Fear Factor

“We have been brainwashed from Day 1,” Thai said. “We were born and bred with fear and threats by our own government.”

Mahathir Mohamad, who ruled from 1981 to 2003 and was Malaysia’s longest-serving leader, alluded to those fears in a blog post this month urging Chinese voters in Johor to back the government. An opposition win would undermine the racial balance the Barisan Nasional aimed to achieve, he wrote.

“An unhealthy racial confrontation would replace Sino- Malay cooperation which has made Malaysia stable and prosperous,” Mahathir wrote.

Najib said in last week’s interview that his pursuit of gradual change would avoid the upheaval that engulfed the Middle East after longstanding governments collapsed. An opposition win could trigger “catastrophic ruin” that would cause stocks and the currency to plunge, he warned.

‘Still Complaining’

Chinese parties in Barisan Nasional are urging voters to stick with the government to promote social justice and warning that the Malay parties in the opposition will seek to impose Islamic laws. Malays and other indigenous groups owned 22 percent of share capital at limited companies in 2008, compared with 35 percent for Chinese, according to the most recent government statistics.

“The Chinese feel that the government has not done enough for them, but the same can be said of the Indians and the Malays,” said Wilfred Yap, an official with the Chinese- majority Sarawak United People’s Party, which is part of Najib’s coalition. “They are still complaining that the Chinese still control a big chunk of the economy,” he said, referring to the Malay and Indian populations.

Meantime, Anwar’s alliance is emulating Barisan Nasional’s original formula by promoting policies that seek to unite races and religions, according to Liew Chin Tong, a lawmaker with the Chinese-majority Democratic Action Party, one of three in the opposition coalition.

“They are suffering now because they are now only focusing on the Malay votes,” Liew said in an interview last month, referring to the government. “With Mahathir playing the racist card, they are speaking to only the Malay audience in the hope to push the Malay vote up to 65 percent.”

To contact the reporter on this story: Daniel Ten Kate in Bangkok at dtenkate@bloomberg.net

To contact the editor responsible for this story: Rosalind Mathieson at rmathieson3@bloomberg.net

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