Monday, August 5, 2013

US Stocks Decline; Gold, Crude Oil and Copper Falls

U.S. Stocks Decline From Record Highs After Services Data

U.S. stocks fell, after the Standard & Poor’s 500 Index climbed to a record high last week, even as data showed service industries grew at a faster pace in July. The S&P 500 slipped 0.2 percent to 1,706.77 at 10:09 a.m. in New York. The S&P 500 is trading at 15.5 times estimated earnings, compared with an average of 13.9 over the last five years, data compiled by Bloomberg showed.

Gold Bulls Cut Wagers on Signs U.S. Growth Quickens: Commodities

Hedge funds lowered bullish gold bets for the first time in five weeks as signs of accelerating U.S. growth contributed to the longest retreat in prices in a month. Gold futures declined 0.9 percent last week, the first drop since the week ended July 5.

WTI Crude Falls for Second Day After Libya Reopens Port

West Texas Intermediate crude fell for a second day after Libya reopened a terminal closed by protests. Futures dropped as much as 1.2 percent as Libyan officials said the Marsa el Hrega port was operating and all oil fields in Libya’s western region returned to normal. WTI crude for September delivery declined 92 cents, or 0.9 percent, to $106.02 a barrel at 9:40 a.m. on the New York Mercantile Exchange. Libya, holder of Africa’s largest crude reserves, is currently pumping 700,000 barrels a day, which should rise to 800,000 barrels next month.

Copper Falls as Chinese Service Stagnation Fuels Demand Concern

Copper fell in New York after three sessions of gains as a stagnant index of service industries in China stoked concern about the outlook for demand in the world’s largest consumer of the metal. Copper for delivery in September slid 0.6 percent to $3.153 a pound by 7:51 a.m. on the Comex in New York. Copper for delivery in three months fell 0.6 percent to $6,962 a metric ton on the London Metal Exchange. Copper stockpiles monitored by the LME fell for a 14th session to 606,900 tons, daily exchange figures showed. Orders to remove the metal from warehouses rose 2.3 percent, the most since June 27, to 324,300 tons.

Aluminum, zinc and nickel slid in London. Lead and tin rose.

Sunday, August 4, 2013

Want Rakyat to ENrol their Kids to Sekolah Kebangsaan ?

Simple only. Increase their quality of production.

If SK can produce best Saintis Muda, Doktor Muda, Shell Road terbaik, Atlit terbaik, Pemidato terbaik, Pencerita terbaik, Matematik terbaik ... sure berpusu-pusu cina, india, iban, melayu beratur daftar anak macam itu orang-orang kena pukau beratur dalam hujan panjang 1 km untuk beli mc donald sebab mau itu minion. Bukan takat malaysian malaysian atau 1 Malaysia beratur ... tapi itu ultra-kiasu Singaporean, Thailandian, Australian pun ikut sama beratur.

Can arr ?

Good Reading ~ Only in Malaysia : where we have gone wrong with fatwa

Updated: Sunday August 4, 2013 MYT 12:40:53 PM

Only in Malaysia : where we have gone wrong with fatwa

" Fatwa are only advisory opinions to guide a Muslim to lead a life according to Islam.

I WONDER how many Malaysians know that under the Syariah Criminal Offences laws of this country, it is a criminal offence for a Muslim to defy, disobey or dispute or to give, propagate or disseminate any opinion concerning Islamic teachings, Islamic law or any issue, contrary to any fatwa for the time being in force.

And that we must be the only country in the Muslim world that has turned the opinion of the ulama into the law of the land without going through the legislative process and then makes it an offence for anyone to challenge that opinion.

That this is a gross violation of constitutional guarantees of fundamental liberties and has no basis in Islamic legal history seem to escape those who drafted the laws and passed them in Parliament and state legislative assemblies.

As long ago as 1997, Sisters in Islam had submitted a memorandum to the then Prime Minister, Tun Dr Mahathir Mohamed, alerting him to the Shariah Criminal Offences (SCO) federal and state laws.

We pointed out that in Islamic legal thought, fatwa are mere advisory opinions and do not have the force of law; to make it a crime to challenge a fatwa in force is to equate the opinion of a Mufti to the infallible word of God; the legislative authority to make laws in Malaysia lies with Parliament and the state assemblies, not the fatwa committees; the right to restrict fundamental liberties lies solely with Parliament and thus the provisions in the law that punish indecency amounts to an unconstitutional trespass on federal powers.

He ordered the suspension of the law and for the Attorney-General’s chambers to conduct a full study. This occurred after the public outcry over the arrest and charging of three young women for violating a fatwa by taking part in a Miss Malaysia Petite beauty contest which drew public attention to the existence of these draconian provisions in the SCO laws.

But when the ruckus died down, so it seems did the review. The public was not informed of any progress.

So these laws remain on the books. Whenever the opportunity arises, the law is revived to threaten and intimidate those who dare to have an opinion different from those in religious authority. So much for Malaysia being touted as the model moderate Muslim country.

In 2005, when another public outcry broke out over the arrest and treatment of 100 young Muslim women and men at the Zouk discotheque, Sisters in Islam yet again submitted another memorandum to the Government calling for a comprehensive review and repeal of the SCO laws.

This time SIS supported its position with research by two legal experts who studied the laws from constitutional and fiqh(Islamic jurisprudence) perspectives.

How much more does it take for this government to realise that forcing people to believe what they do not believe does not constitute faith?

That is why every time a fatwa is issued that makes no sense to the public or the law is enforced that violates the fundamental liberties of citizens, there is a public outcry. And then those in religious authority get insulted and are befuddled as to why so many Malaysians, even Muslims they say, dare to challenge their views and contradict fellow Muslims.

Not a crime

My friends and scholars I know in the Arab world are stunned that a modern country like Malaysia could be so close minded when it comes to Islam. Everyone, literally everyone I meet, knows that fatwa are only advisory opinions to guide a Muslim to lead a life according to Islam. They are theological and legal reasonings given in question and answer form. If at all it is binding, it is only to the questioner, certainly not binding on a whole population and certainly not a crime to disobey.

In fact, if you don’t like the fatwa given by your local mullah, you can go to another one to ask for another opinion and it is left to your conscience to decide which fatwa you want to follow. Everyone understands that in the end it is between you and God.

Truly, only God knows best. The state has no role to play to force you to believe or obey a fatwa and send you to prison or fine you for disobeying the opinion of someone in religious authority. And the media certainly does not sensationalise and incite hatred against anyone for not following a fatwa.

But for some people in Malaysia, this Islamic tradition that has enabled Islam to thrive and grow for hundreds of years in all social and cultural contexts seems an alien tradition.

And yet there are hundreds of fatwa listed in the e-fatwa portal of Jakim and the state religious authorities on a whole range of issues, from whether it is harus (permissible) to dye one’s hair black (only for jihad purposes or for a woman to please her husband), to the use of indelible ink on voters’ fingers (permissible). Some are gazetted, most are not.

For example, many states have issued fatwa that say smoking is haram; Selangor and Penang gazetted, the others did not. Selangor, Pahang and Penang have issued fatwa that declare Amanah Saham Bumiputra (ASB) and Amanah Saham Nasional (ASN) as haram (forbidden), but the National Fatwa Council states it is harus. Some other states followed suit to state it is harus, but not those three states.

So who is right and who is wrong?

All fatwa are justified in the name of Islam. So when there are so many fatwa on the same issue, some making it haram, some harus, some gazetted, some not, some states have them, some don’t, what then is the “Islamic” position on any particular issue?

This would not pose a problem if, like other Muslim countries, the Malaysian authorities have the wisdom to leave it to the conscience of the individual to decide which opinion or which teaching he or she wants to follow and leave it to God to decide in the end whether that person has committed a sin by obeying or disobeying.

But when the state tries to play God, it leads us to the conundrums we are in today. For the public will question the basis upon which some states decide to gazette one fatwa but not another. On what basis is action taken against those who violate a fatwa?

Thousands of Muslims in Selangor and Penang violate the smoking fatwa on a daily basis, and yet none of them has been accused of insulting Islam or charged for violating a fatwa. Why not?

Neither has any tobacco company been charged for propagating and disseminating their opinions on smoking through advertising and promotion that clearly violate the fatwa.

On the scale of wrongdoings, the public wonders why corrupt politicians and officials or the thousands of fathers who fail to pay maintenance to their children are not accused of insulting Islam. It is this selective persecution and hypocrisy that rile public opinion.

Difference of opinion

There is a good reason as to why fatwa never have the force of law in Islamic history. Because to do so is to, in effect, equate the opinion of the ulama to the word of God.

One reason why the doctrine of binding precedent did not evolve in the Islamic legal tradition is due to the belief that the opinion of one mujtahid (a jurist qualified to interpret legal issues) can never be regarded as the final wisdom in understanding the infinite message of the Quran.

Another jurist can give an equally valid opinion based on his learned understanding of the text. In the context of law-making in a democracy, these differences of opinion should be debated in public and the legislative body will then decide which opinion it wants to turn into law to serve the best interest of society. Public law must be open to public debate and pass the test of public reason.

But in Malaysia, disobeying a fatwa has become elevated to insulting God, insulting Islam. Yes, the state religious authority could consider it an insult to what it considers its learned opinion on Islam; but this cannot constitute a crime, nor can it equate its opinion to God as that would be tantamount to shirk(associating others with God).

If it is the Islamic tradition to make it a crime to have differences of opinion in Islam, how then did numerous schools of theology and numerous schools of law develop in Islamic history?

In the canons of Islamic juristic scholarship written by the classical scholars of Islam, no one accuses another of insulting Islam for differences of opinion. Only politicians and those with aspirations to power and control do that.

The tragedy of Muslims today is that while we say we want to restore Islam to its past glory, we are instead doing a grave injustice to our rich legal tradition. We bring the religion into disrepute and ridicule in our obsession to make all Muslims think only in the way the state deems fit.

That the coercive power of a modern nation state is then used to impose this one point of view on a whole community of Muslims is unprecedented in Islamic history. And obviously unenforceable in a democracy as there would be public outrage.

We have abused what is authoritative in our Islamic tradition for authoritarian purposes. And this has no place in a democracy nor in Muslim practice.

Cocoa (sep) $ 2,389 ; Sugar (oct) $ 492.80

Aug 1, 2013

Cocoa climbed to the highest in almost a week in London as a rising premium for September futures over December signaled concerns about supplies just as the weather is dry in top grower West Africa. Sugar rose.

Cocoa for delivery in September was 13 pounds a metric ton higher than the futures for December, reversing a discount just a month ago, exchange data showed. Earlier-dated contracts priced higher than later ones signal concerns about supply. Dryness is increasing in leading producers Ivory Coast and Ghana after some rain last month, WeatherBell Analytics LLC in New York said in a report e-mailed yesterday.

“We are in the ‘mini-dry’ season and the absence of rains over West Africa is not abnormal right now,” head of agriculture options brokerage at Marex Spectron Group in London, said today. “This ‘mini-dry’ started earlier than usual though. Any forthcoming rains should be seen as a ’bonus’ at this point in time.”

Cocoa for September delivery rose 0.1 percent to 1,573 pounds ($2,389) a ton by 11:27 a.m. in London. The price climbed to 1,587 pounds a ton, the highest for this contract since July 26. Cocoa for September delivery gained 0.1 percent to $2,300 a ton on ICE Futures U.S. in New York.

“The next four to six weeks will bring updates on pod counts and will clarify whether or not we may encounter supply side problems in the next four to six months,” The 2013-14 crop in West Africa is set to start in October.

Cocoa rose 7.7 percent in London and 2.9 percent in New York this year as speculators raised bets on higher prices. In London, money managers boosted bullish bets by 30 percent in the week end July 23 from the previous 7-day period, NYSE Liffe data showed. Cocoa may gain further to $2,400 a ton on ICE “if we do not see the needed rains,” Sterling Smith, a futures specialist at Citigroup Inc., said in a report e-mailed yesterday.

White sugar for October delivery was 0.4 percent higher at $492.80 a ton in London. Raw sugar for delivery in October rose 0.1 percent to 16.98 cents a pound in New York.

Robusta coffee for delivery in September was 0.3 percent lower at $1,868 a ton on NYSE Liffe. Arabica coffee for delivery in September fell 0.1 percent to $1.1845 a pound on ICE.

Friday, August 2, 2013

Grand-Flo > announcement > proposed acquisition 52% JBSB for RM 2.44 million

This announcement is dated 1 August 2013

The Board of Directors of Grand-Flo wishes to announce that Grand-Flo Capital Sdn Bhd ("GCSB" or the "Puchaser"), a wholly-owned subsidiary of Grand-Flo, had on 1 August 2013, entered into a conditional share acquisition agreement with Loyang Ekuiti Sdn Bhd ("Loyang Ekuiti" or the "Vendor") for the proposed acquisition of 520,000 ordinary shares of RM1.00 each in JBSB ("Sale Shares"), representing 52% of the issued and paid-up share capital of JBSB for a total purchase consideration of RM 2,440,000

Upon completion of the Proposed Acquisition, JBSB will become a 52%-owned subsidiary of Grand-Flo.

Salient points :

- principally engaged in the business of housing development.
- JBSB has net assets (NA) of RM 1.01 million

2. The Land
- 3.29 hectares, Freehold
- Lot 22993 Seberang Perai Tengah
- land category : Building
- locality : A residential development land beside Taman Villa Impian, Alma, Bukit Mertajam
- Market value : RM15,600,000
- Net book value  : RM13,538,415


The Board is of the view that the prospects of the Land will be positive and favourable due to, amongst others, the strategic location of the Land. Based on the Valuation Report, theLand is situated about 2.5 km (1.6 miles) from the Jalan Kulim/ Jalan Rozhan junction and about 7.5 km (4.7 miles) to the south-east of the Bukit Mertajam town centre. The Land is accessible from Jalan Rozhan via Jalan Alma Jaya. Jalan Alma Jaya leads to the Jesselton Hills housing scheme located to the north-east of the Land.

The Land is located beside Taman Villa Impian that is developed with double-storey detached houses, a playground/open space, a retention pond and a Tenaga Nasional Berhad (TNB) sub-station. Within the vicinity, there are double-storey detached houses, doublestorey shop offices, five (5) storey-flats, the Asas Parade, Tesco Hypermarket, proposed AEON Shopping Centre (JUSCO), double-storey terraced and semi-detached light industrial buildings, primary schools, petrol filling stations, kampung houses and rubber and oil palm smallholdings.

In addition, the Land is located nearby other housing and industrial schemes that include Taman Impian Alma, Taman Budiman, Taman Seri Impian, Taman Selamat, Taman Hwa Seng, Taman Nirwana, Taman Megajaya Alma, Taman Selesa, Taman Sri Kijang, Taman Impian Ria, Taman Impian Indah and Taman Industri Alma Jaya. A new housing scheme viz Jesselton Hills is also currently under construction nearby to the north-east of the Land. Another housing scheme viz Permatang Sanctuary is also planned to be
developed/constructed a short distance to the south of the Land.

With the strategic location of the Land, the Board expects that the locality of the Land will fast develop into a preferred neighbourhood and will be in a position to benefit from favourable market demand and selling price, and thereby contributing positively to the future earnings of the Grand-Flo Group.

Thursday, August 1, 2013

Why Convert Warrant to Mother ?

Someone ask me why this company keep converting the warrant into mother shares without any obvious financial benefit ?

I asked back - what do you think ?
He asked - could it be because the warrant no good ?
I said - if not good, why not sell instead of converting ?
He said - maybe the mother is better ?
I ask - in what way ? A 15 sen warrant with converting price of 12 sen and the mother is selling at 27 sen ?
He said - or maybe the mother share is not good ?
I said - then why convert ? Just sell the warrant lar.
He replied - I give up.

I said - what mother share have but warrant don't have.
He keep thinking ...
I answered - mother share got dividend and voting rights.

He then asked - so, he want the dividend and / or voting rights ... right ? But ... why ?
I said - Why ... why ? U don't want dividend meh ?
He said - if the company declare big dividend ... the warrant will go up too. And can earn much more.
I said - if the mother share go up then the warrant may follow. The reason may not be one of the 2 reason ... but actually because of the company want both ... dividend and voting rights.
He said - but WHY ?
I said - beat me. How do i know. I am not the company director mar. U go call up and ask him directly lor.

One in A Million Risk ... will u DARE ?

If u are given a gun which has 1 million chambers
with 1 bullet randomly put into one of the chambers.
If U are willing to pull the trigger once on your head,
if u still alive ... u get rm 100 million.

Chances u kena is 1 over a million
In simple word the probability u dead is 0.00000
Where as chances to get rm 100 million is 99.99999 %
Will U take the chance ?

Very tempting right ?
I'm sure many will be willing to take this chance.
Is it because they think their lives could not be worth rm 100 million ?

How to calculate this risk ?

PMCorp > announcement > disposal of land completed



The Board of Directors of PM Corp wishes to announce that the Proposed Disposal has been COMPLETED  today.

This announcement is dated 31 July 2013.

Wednesday, July 31, 2013

Police release photograph of suspect in Najadi's murder

KUALA LUMPUR: City police have identified the main suspect behind the brutal murder of banker Hussain Ahmad Najadi.
Kuala Lumpur CID chief Senior Asst Comm Datuk Ku Chin Wah said the man, known as Sei Ngan Chai (which in Cantonese means "four-eyed guy") was still believed to be in the city.
comments : He has been identified. Who hire him ? Sure now he will ask for more money or else he will expose. And the who one who hire him will hire new hitman to hit this fellow. Does he has any evidence hid somewhere or with someone in case the fellow hire him plan to hire someone to hit him ? But what if he hire someone to force him to give out the evidence before hitting him ? Or how about the 2nd hitman decided to join the the first hitman to squeeze more money from the fellow who hire them ? Good plot for new movie ? I think I have watched these many times already.

Business Purpose is to Create a Customer

To know what a business is we have to start with its purpose. Its purpose must lie outside of the business itself. In fact, it must lie in society since business enterprise is an organ of society.

There is only one valid definition of business purpose: to create a customer.

Markets are not created by God, nature, or economic forces but by businessmen.

The ‘Want’ a business satisfies may have been felt by the customer before he was offered the means of satisfying it.
The ‘Want’ may have been unfelt by the potential customer until these became available.
There may have been ‘NO want’ at all until ‘business action’ created it – by innovation, by credit, by advertising, of by salesmanship.

It is the customer who determines what a business is.
It is the customer alone whose willingness to pay for a good or for the service converts economic resources into wealth, things into goods.

What the business thinks it produces is not of first importance – especially not to the future of the business and to its success.