Rueda hits out at referee as Ecuador exit |
- Rueda hits out at referee as Ecuador exit
- Tackling the root cause of evil — Lim Sue Goan
- Defending Khalid Ibrahim — Hafiz Ahmad
- Investor Central: SP Setia Bhd — How independent is its chairman?
- Consumers want bigger iPhones
- Aftermath of the Federal Court’s decision — Joshua Wu
| Rueda hits out at referee as Ecuador exit Posted: 25 Jun 2014 05:59 PM PDT
The sending-off of captain Antonio Valencia for a dangerous challenge on Lucas Digne left the South American nation to play most of the second half with 10 men, while an apparent elbow by Mamadou Sakho on Oswaldo Minda in the first half was missed by Ivorian referee Noumandiez Doue. "What happened was a shame. It is up to the committee that looks after these things to judge the performance of the referee," said Rueda of the latter incident. "A lot of his 50-50 decisions were not ideal." However, the Colombian did appear to accept the sending-off of Valencia, saying: "It is a shame, but I am very respectful and what happened has happened. There is nothing to be done about it now. "We lost an important player in our structure and it was difficult to hold on for a draw but thanks to the character of the players we did so." The result combined with Switzerland's 3-0 success against Honduras left Ecuador as the first South American nation to be knocked out of this World Cup. Ecuador had beaten Honduras 2-1 in their second game last Friday, but Rueda admitted that their prospects of qualifying for the last 16 were compromised when they lost by the same scoreline to Switzerland in their opening match in Brasilia. "We didn't play at our very best against Switzerland and didn't take our chances when they came," said the 57-year-old. Enner Valencia put Ecuador ahead in that game only for Admir Mehmedi to equalise before Haris Seferovic struck an injury-time winner that ultimately proved crucial.
"In that first game we needed to play with greater freedom. Switzerland are an experienced and well-organised team who did very well in qualifying. It was either them or us." Switzerland now go on to face Argentina in the last 16, leaving Ecuador as the only CONMEBOL nation to fall short at the group stage. They came through qualifying without winning a single away game, and their overall performances in Brazil confirmed that they are not the same team away from the altitude of their home in Quito. Rueda, who led Honduras to the 2010 finals in South Africa, is now out of contract but he declared his hope that an agreement can be found with the Ecuadorean Football Federation (FEF) for him to stay at the helm. "Now my contract is up and it is up to the Federation to decide over my future. I think we have done a good job." Midfielder Christian Noboa insisted that Ecuador can be proud of their showing in Brazil, despite failing to match their run to the last 16 in Germany in 2006. "We are sad but leave with our heads held high," said the Dynamo Moscow player. "We gave everything. We are a young team with many who play at home and others in Mexico, which is not the same as playing in Europe." — AFP  |
| Tackling the root cause of evil — Lim Sue Goan Posted: 25 Jun 2014 05:57 PM PDT
The government did not offer any explanation on the fact that none of our universities made it to the top 100 Asian universities in Times Higher Education's 2014 rankings. However, the government was obviously very unhappy with the US Department of State's blacklist. This shows that human trafficking is a much more serious humiliation to the Malaysian government. To be honest, the government has indeed made some effort to check human trafficking activities, having been warned by the US for these years. For instance, the Anti-Trafficking in Persons Act was drafted in 2007 and be put into implementation in February the following year. The act was amended in October 2010 and be renamed Anti Trafficking In Person and Smuggling of Migrants Act 2010 (ATIPSOM.) The police and immigration officials have been busily taking initiatives to round up illegal migrants in recent years, news of arrests of human traffickers making national headlines almost on a daily basis. At the same time, the home ministry introduced the 6P program to more effectively manage the million-strong army of foreign workers in the country while curbing incidents of maltreatment on migrant workers. In addition, the government has also established a database of arriving aliens through the biometric system. Such efforts have paid off. Malaysia was blacklisted in 2007 alongside Myanmar, Papua New Guinea, Fiji and North Korea, but in 2010, the country was upgraded from Tier 3 to Tier 2. Unfortunately we have seen our rating downgraded again this year, sharing this unglamorous position with countries like Iran, Cuba, North Korea and Syria. There must be reasons why Malaysia was downgraded again. While the government can show the world it is "indeed doing some work," it has not done enough to prevent human smuggling from its root. The enforcers have been able to make so many arrests and this shows the situation is indeed very serious. By right the government should do something to stop these human smugglers from infiltrating the country instead of making arrests only after they have breached our shores. The recent two boat mishaps off the coast of Selangor point to the fact that our marine defense is still very porous. There are currently several million of migrant workers. This, coupled with the presence of a large number of foreign nationals in the country, makes the country a fertile breeding ground for human trafficking activities. Meanwhile, Malaysia has slowly evolved from being a "recipient country" to a "transit country" to now a "source country." In its Trafficking In Persons Report 2009, the United States accused that some of the Malaysian immigration officials were themselves involved in people smuggling activities, "selling" refugees to human smugglers in southern Thailand at approximately US$200 per head. In 2010, it was reported in the media that immigration officials in Pulau Ketam were involved in accepting bribes from illegal migrants. Some of these officials were subsequently detained by the MACC while 20 were transferred. During the same year, eight immigration officials involved in human smuggling activities were detained under the Internal Security Act but were all released after they showed repentance. Berita Harian reported last year that immigration officials at KLIA and LCCT were bribed by illegal syndicates to allow foreigners holding counterfeit documents to gain access into the country. In view of this, besides tackling the human trafficking problem, it is imperative that the government also clean up its own institution and remove all the undesirable elements within in a bid to reverse the negative impression of the international community. As a matter of fact, the enforcement unit has been adopting an antiquated approach in dealing with people smuggling without tackling the root cause of it. The US human trafficking report should sound an alarm bell to remind us of to look seriously into the issue of internal security. Dealing with the consequences alone will not help put things right. — Sin Chew Daily * This is the personal opinion of the writer or publication and does not necessarily represent the views of the Malay Mail Online |
| Defending Khalid Ibrahim — Hafiz Ahmad Posted: 25 Jun 2014 05:47 PM PDT
I am just a 24 years old student, an ordinary citizen who has great interest in politics and currently reside in Semenyih, Selangor. I remember when the first time PKR, PAS, and DAP captured Selangor in 12th General Election, I was one of opposition supporters that got very excited when finally UMNO lost its so-called fortress Selangor. I was 18 at that time. It was a beautiful moment when I saw TV3 personalities in their special election result programme announced that Selangor had fallen to the opposition. I still remember their sad little faces when announcing the result. Typical UMNO sympathisers. I was screaming yeahhhhh when one by one BN's controlled states fallen into opposition's lap. It was like watching football. I was happier when many BN's ministers such as Shahrizat Jalil, Sammy Vellu, Zainuddin Maidin, Koh Tsu Koon lost in their respective parliamentary seats. I must say I was shocked by the result. I became overwhelmed when there was a rumour that Prime Minister Abdullah Badawi lost in Kepala Batas but eventually it was proven not true. I even stayed up until morning to get the complete election results. I was very sure that losing Selangor to opposition was such a big blow for Barisan Nasional. I bet all UMNO's head of divisions were very devastated because the pot of gold is no longer theirs. In other words they cannot no longer 'cari makan' in Selangor, so they have to think other alternatives to survive, let alone to raise money to retain their positions in party election. To hide their weaknesses for failing to defend Selangor, they simply washed their hands by putting all the blame on the former Selangor Menteri Besar Dr Khir Toyo. It worked and people are still blaming Dr Khir Toyo for the loss of Selangor. Poor old Jawa man. When the opposition conquered Selangor and PKR had the highest number of state seats, it was fair to elect one of PKR's assemblymen to become a menteri besar considering PAS helms Kedah and Kelantan, DAP in Pulau Pinang. Tan Sri Khalid Ibrahim was chosen as 14th Selangor Menteri Besar. From my understanding, Tan Sri Khalid was handpicked by PKR de factor leader Datuk Seri Anwar Ibrahim with the support of PKR President Datuk Seri Wan Azizah. Tan Sri Khalid started his first term by trying to fulfil the opposition's election manifesto. With the opposition led by PKR controlling the richest state in Malaysia, some of PKR members saw a pot of gold in the cave. Some of them that have UMNO's DNA in their veins tried to influence the way Selangor should be governed. Plenty of positions in SUK and Selangor GLC that offer enormous salaries had to be filled. Tan Sri Khalid saw this coming. He will not let this happens by practising strict financial exercise when it comes to fund allocations. Rewarding party members like Santa Claus during Christmas and succumbing to their 'economics' demands is not really Tan Sri Khalid's style. This is probably why he is not very popular in his own party but he is very popular in the eyes of Selangorians. This kind of attitude will destroy the party. He will not let the people's money go widespread without accountability. That is why he is considered, and this has been admitted by Datuk Seri Anwar himself, as a stingy menteri besar. He does not use his position as menteri besar to enrich himself because he is already rich. He can also enrich himself if he wants to but he won't because it is not right. People of Selangor will spit on his face if he becomes corrupt or even try to become corrupt. He was a former CEO of PNB and former CEO of Guthrie. One does not simply tell story about 1981 London Dawn Raid without mentioning his name because then the story will become incomplete. Tan Sri Khalid is not a saint. Of course he has weaknesses. But all those weaknesses are not enough to justify Khalid's replacement. There is growing dissatisfaction among Pakatan Rakyat representatives that Khalid Ibrahim is not responsive and not 'let-discuss-it' kind of person. He is one-man-show. Tan Sri Khalid must take criticisms with open heart and improve the way he governs the state. The way I see, Selangorians do not want Khalid to be replaced, there are certain quarters in PKR itself that spread false, nasty propaganda if Khalid is not replaced. Selangor will fall to UMNO. On what basis to support your wild claim? Because of Kidex Highway? He has shown his transparency by revealing 2011 classified documents of Exco meeting results regarding Kidex Highway. Go to his facebook page and read the complete documents. Khalid Ibrahim has nothing to hide. With Khalid Ibrahim's honest, clean and transparent leadership, Pakatan Rakyat won Selangor for the second term. This time with a bigger 2/3 majority. Among all Selangor assemblymen I could not find any candidate that can match Khalid's credentials. Oh please… if PAS brags about how they have the highest number of seat in Selangor, they should be given the MB's post… Please remember they have lost Terengganu that was governed by their president who is also Ulama Besar and Kedah faced the same fate too. For me, if PAS controls a particular state, it is just a temporary before they volunteer passing it to Umno. Kelantan is a special case because of charismatic leadership of Tok Guru Nik Aziz. Even Umno and Utusan want the Selangor MB's post to be given to PAS. Sounds fishy, right? Arrogant, lack of political skills, lack administrations skills, lack of ideas, lack of credible leaders, holier-than-thou attitude of 'kopiah putih' side are the problems faced by PAS. Azmin Ali is the best choice for menteri besar? What !!!? Are you crazy? This man has got a lot of 'issues'. Ask Tukar Tiub for more details. Definitely not him. I do not want Selangor to change its name to Selangor Raya filled with 'Hantu Raya' if this kind of person is given the responsibility to helms the richest state in Malaysia. * Hafiz Ahmad is a final year student of Economics at University of Malaya. ** This is the personal opinion of the writer and does not necessarily represent the views of the Malay Mail Online. |
| Investor Central: SP Setia Bhd — How independent is its chairman? Posted: 25 Jun 2014 05:46 PM PDT
KUALA lUMPUR, June 26 — SP Setia Bhd blames cooling measures by Bank Negara Malaysia for a "moderation" in its property sales for the second quarter. It adds, the speculation of a possible interest rate hike in the second half of 2014 has turned property buyers cautious. Despite that, on the back of resilient economic growth of Malaysia, the company remains confident of strong demand for affordable and quality properties. The company just announced earnings for Q2 FY14: Revenue: +26.4 per cent to RM952.4 million Profit: -21.1 per cent to RM74.3 million Profit attributable to Perpetual bondholders: RM8.8 million vs Nil Cash flow from operations for H1: RM192.1 million vs RM398.5 million Dividend: 4 sen per share vs 4 sen per share Order book: Unbilled sales of RM11.3 billion Overall revenue was higher due to a 25.6 per cent rise in property development revenue and an 86.5 per cent rise in construction revenue which was partially offset by a 3.9 per cent drop in revenue from other operations. SP Setia Bhd's overall net profit in Q2 was up 12.1 per cent. But after taking out the share of profit of the perpetual bondholders and the non-controlling interests, the remaining share of the profit attributable to the company's shareholders was down by more than 21 per cent. On the one hand, selling and marketing expenses were down 21.1 per cent. On the other, administrative and general expenses were higher by about 36 per cent. That's precisely why the company's net profit growth couldn't match the growth in its Q2 revenue. 1. How did it arrive at the profit-share of the perpetual bondholders? Management Reply: SP Setia Bhd attributed RM8.8 million of its Q2 profit to the perpetual bondholders. It raised RM 609 million from an unrated Sukuk Musharakah — a perpetual bond issue — on December 13. According to the approval by the Securities Commission Malaysia on Dec 5, the company can use the proceeds from the perpetual bond issue for Shariah-compliant purposes which include its investments and working capital needs. Unfortunately, that's about all it said in the announcements about the perpetual bond issue. We couldn't spot any announcements which elaborated the details of the perpetual bond issue. That's precisely what makes us wonder how the company arrived at a RM 8.8 mln share of profit of the perpetual bondholders in its Q2 earnings report. 2. Why didn't it seek a rating for the perpetual bond issue? Management Reply: SP Setia Bhd raised RM609 million through Sukuk Musharakah which was an unrated subordinated Islamic perpetual bond issue. However, it didn't disclose the reasons for which it preferred not to seek a rating for the issue. 3. Who are the perpetual bondholders? Management Reply: We couldn't spot any announcement which described the subscribers of its RM609 million perpetual bond issue. 4. Which subsidiaries led to a twofold rise in the profit-share of the non-controlling interests? Management Reply: While the shareholders of the company witnessed a decline in the net profit attributable to them, the profit-share of non-controlling interests tripled in Q2. It seems the partially-owned subsidiaries of the company were largely responsible for the surge in net profit during the quarter. Therefore that makes us wonder which of its partially-owned subsidiaries outperformed. 5. Why did it not disclose its Independent Chairman's shareholding in SP Setia Security Services Sdn Bhd at the time of his appointment in 2012? Management Reply: SP Setia Bhd has agreed to sell its entire 51 per cent stake in SP Setia Security Services Sdn Bhd to Tun Dato' Seri Zaki Bin Tun Azmi for RM278,000. Tun Dato' Seri Zaki is the Independent Non-Executive Chairman of SP Setia Bhd. Apparently, it is a related party transaction. According to SP Setia Bhd's FY13 annual report (page 23), Tun Dato' Seri Zaki was appointed as an independent director and the Chairman of the board on October 25, 2012. A quick look at SP Setia Bhd's October 25, 2012 announcement shows Tun Dato' Seri Zaki was a director of Astro Malaysia Holdings Bhd and he didn't have any interest in the shares of SP Setia Bhd and/or its subsidiaries at that time. But at about the same time, Astro Malaysia Holdings Bhd listed on Bursa Malaysia in September 2012. According to pages 172 and 189 of Astro Malaysia's prospectus, Tun Dato' Seri Zaki was a more than 5% shareholder of SP Setia Security Services Sdn Bhd in September 2012. That's just about a month before he was appointed on the Board of SP Setia Bhd. Moreover, there is no evidence which suggests that he sold his stake in SP Setia Security Services Sdn Bhd before joining the Board of SP Setia Bhd. In fact, he currently owns a 19 per cent stake in SP Setia Security Services Sdn Bhd (refer SP Setia Bhd's June 11 announcement). It is intriguing that SP Setia Bhd didn't reveal its Independent Chairman's interests in SP Setia Security Services Sdn Bhd in its October 25, 2012 announcement. 6. How independent is its chairman? Management Reply: The Malaysian Code of Corporate Governance 2012 doesn't specifically mention the criteria for assessing the independence of the directors. It appears that Tun Dato' Seri Zaki Bin Tun Azmi was a substantial shareholder of SP Setia Bhd's subsidiary when he was appointed as the Independent Non-Executive Chairman. Although we can't find a disclosure by the company of his interest in its announcement at the time of his appointment on October 25, 2012, in the absence of any clear criteria, a reasonable investor can only wonder how independent Tun Dato' Seri Zaki Bin Tun Azmi is. 7. Why is its Chairman interested in acquiring a controlling stake in SP Setia Security Services Sdn Bhd? Management Reply: According to the company's announcement, SP Setia Security Services Sdn Bhd was incorporated on April 22, 2000 as Darul Tahap (M) Sdn Bhd and assumed its present name on June 26, 2003. SP Setia Security Services Sdn Bhd holds a private agency license issued by Kementerian Dalam Negeri under the Private Agencies Act 1971 to carry on the business of private security agency. Why is Tun Dato' Seri Zaki Bin Tun Azmi interested in the security services business? Apparently, he has been interested in the business of the subsidiary for years now. 8. What is the latest net asset value of SP Setia Security Services Sdn Bhd? Management Reply: SP Setia Bhd has agreed to sell its 51% stake in SP Setia Security Services Sdn Bhd on the basis of its latest audited net asset value of RM 543,475 on October 31. Apparently, the net asset value of the subsidiary is more than seven months since the date of agreement. That makes us wonder what could be the latest net asset value of SP Setia Security Services Sdn Bhd. 9. Why is it selling a controlling stake in SP Setia Security Services Sdn Bhd? And why didn't it invite bids for the controlling stake? Management Reply: Though SP Setia Bhd will make a marginal profit on the sale of a 51% stake in SP Setia Security Services Sdn Bhd. The company didn't disclose the reasons for which it suddenly decided to sell the controlling stake after owning it for more than a decade. 10. Why didn't it invite bids for the controlling stake in SP Setia Security Services Sdn Bhd? Management Reply: It seems a bit odd that SP Setia Bhd valued SP Setia Security Services Sdn Bhd on the basis of its net assets value even though the market value of its private agency licence might hold a different valuation altogether. Also, it remains a mystery why SP Setia Bhd didn't invite bids for its controlling stake in SP Setia Security Services Sdn Bhd before selling it to its Independent Chairman. We have invited the company ([email protected]) to an on-camera interview, and/or to reply to our questions in writing. At the time of publication we have not received a reply (which is why you are seeing this message). We will update this article if we do. — Investor Central While our purpose is to ask the questions which the man on the street would ask, and to help the everyday investor make informed investments, please note that: * Our articles and presentations ("our contents") are not investment advice nor should they be construed as investment advice or any recommendation of any kind; nor meant to cast allegations or insinuations of any kind against any individuals or entities. Before acting on the material in our contents, you should either seek independent advice tailored to your particular circumstances and intentions or rely on your own judgement. ** Our articles and presentations express our observations, opinions and theoretical analysis based on the facts that we have gathered or have been provided to us. While we endeavour to ensure that our contents are accurate and are presented in good faith, we cannot and do not warrant the accuracy, adequacy or completeness of the material or that the material is suitable for its intended use; and we disclaim any such warranties express or implied that may be presumed by any party; neither do we take responsibility for the views of companies or other stakeholders or observers or sources quoted or hyperlinked in our contents. While every precaution has been taken in the preparation of our contents, we (and our principals) shall not be liable for any losses or damage or inconveniences due allegedly to errors or omissions in any facts or due allegedly to reliance on our contents in any way whatsoever; nor for any damage to any computer hardware, date information or materials allegedly caused by our contents. *** All expressions of opinion and observations in our contents are subject to change without notice and we do not undertake a duty to update and supplement our contents or the information contained herein in the event we obtain any further or more complete information. |
| Posted: 25 Jun 2014 05:44 PM PDT
In fact, according to a study by the Royal Bank of Canada Capital Markets, 23 per cent of all consumers planning to replace their handset this year and 35 per cent of current or future Android handset owners would buy an iPhone if it had a bigger screen. Nearly half (49 per cent) of the 4,000 North American consumers surveyed by the bank's investment arm already intend on getting an iPhone when the latest generation handset is launched this autumn. However, for the remaining 51 per cent, the biggest factors for going with one of Apple's competitors are price and screen size. The current iPhone 5S has the biggest display of any iPhone in history, but at 4 inches it pales in comparison to those offered by premium Android handsets. The Samsung Galaxy S5 has a 5.1-inch screen and the HTC One (M8), often referred to as the iPhone of the Android world, offers owners a 5-inch display. But this demand for a bigger screen isn't exclusive to current Android users ― 64 per cent of those who are already going to get the next iPhone would prefer it to have a 4.7-inch or larger display and 26 per cent said that they'd be willing to pay a US$100 (RM320) premium for an iPhone with a potential 5.5-inch screen. And although consumers clearly put a premium on a handset's display, the Royal Bank of Canada's survey results mirror those of a number of other recent surveys that place battery life firmly at the top of the list of considerations when it comes to picking a phone. Almost one third of respondents ranked how long the phone lasts between charges as its most significant feature. This was followed by screen size (23 per cent), processor speed (18 per cent) and the camera's performance (12 per cent). Apple is expected to unveil its next iPhone at an event in September or October and the new handset is tipped to come in two screen sizes ― 4.7-inch and 5.5-inch. There are also reports that the company could launch a professional 12-inch version of its iPad before the end of this year. ― AFP-Relaxnews |
| Aftermath of the Federal Court’s decision — Joshua Wu Posted: 25 Jun 2014 05:40 PM PDT
The saga began in 2007 when the Home Ministry of Malaysia decided to issue a ban prohibiting The Herald from using the word "Allah" in its newsletter. The Herald had been peacefully doing so since 1995. The Catholic church was in a state of shock as the weekly publication was meant for internal circulation, thus dispelling any fears that it would be used to propagate its teachings to Muslims. The High Court in 2009 ruled in favour of the Catholic church and quashed the prohibition. The government appealed and the Court of Appeal reversed the decision of the High Court. The Catholic church exercised its legal right to pursue the matter up the hierarchy of courts but was turned down by the Federal Court. Four out of the seven-man bench decided against allowing the leave for appeal. The leave for appeal is basically a permission to appeal a previous judgement/ruling. Without the leave for appeal, one is stuck with the decision of the earlier court. So what is the aftermath of the decision? It can't all be that bad because Putrajaya has assured that the decision is only applicable to The Herald and would have no effect whatsoever on Christians who practise their faith in the national language. Putrajaya's assurance counts for nothing as even its 10-point solution is not legally binding whereas the Court of Appeal's decision is binding precedent and has to be followed by courts of equal and lower status. The Federal Court's refusal to grant The Herald leave for appeal means that the Court of Appeal's decision is good law. The ratio decidendi ("the reason or the rationale for the decision", "the point in a case which determines the judgment", or "the principle which the case establishes") is that the word "Allah" is not an integral part of the Christian faith. Tell me again how that legal principle will only be bound to The Herald? Henceforth, whenever a case appears before the courts regarding the use of "Allah" in any Christian publication (e.g. the Alkitab), all lower courts will be bound by the decision of the Court of Appeal. This has major ramifications on the rights of Christians to practise and profess their religion as per Article 11 of the Federal Constitution. Christians who practise their faith in Bahasa Malaysia will be unable to read the Bible in the language they have used all this while. That is only the beginning of the aftermath. Before we know it, the holy book of the Sikhs will also be seized and prohibited because of the use of the word "Allah". What is most saddening is that the highest court of the land (i.e. the Federal Court), which has the ability to remedy this wrong, refused to get involved. May we never forget this dark moment! * This is the personal opinion of the writer and does not necessarily represent the views of The Malay Mail Online. |
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