Lowyat.NET: Latest topics by Nauts

River Valley High School student allegedly killed

Nauts — Mon, 19 Jul 2021 16:17:36 +0800

River Valley High School student allegedly killed on campus, police on site

SINGAPORE – A student of River Valley High School (RVHS) was allegedly killed on campus on Monday (July 19) in an incident which saw staff initially ordering students to remain in their classrooms.

https://www.straitstimes.com/singapore/cour...-police-on-site

Yala struggles to enforce ban on ..

Nauts — Thu, 02 Apr 2020 04:57:15 +0800

Yala authorities are hard-put trying to convince local Muslim leaders of the need to obey the Chularatchamontri's order suspending Friday prayers at all mosques, amid worries that mass gatherings spread the coronavirus disease.

Provincial governor Chaiyasit Panitpong has meanwhile called on residents to contact health personnel if they suspect people in their neighbourhood are infected with the virus.

Yala is the southern border province hit hardest by the pandemic. The Centre for Covid-19 Situation Administration on Wednesday reported the number of infections at 35, one more than neighbouring Pattani.

https://www.bangkokpost.com/thailand/genera...ayer-at-mosques

Banks care about the situation?

Nauts — Tue, 17 Mar 2020 15:35:16 +0800

So far only stimulus by Mahathir... what happens next?

What are the banks doing?

Comments?

Thank you.

Astro to offer VSS to staff

Nauts — Fri, 07 Dec 2018 18:48:32 +0800

Astro to offer VSS to staff

Published 36 minutes ago on 07 December 2018

KUALA LUMPUR, Dec 7 — Astro Malaysia Holdings Bhd will be undertaking a voluntary separation scheme (VSS) for staff given the challenging overall economic landscape.

https://www.malaymail.com/s/1701111/astro-t...er-vss-to-staff

13,275 years in jail for his pyramid scheme

Nauts — Sat, 30 Dec 2017 07:37:59 +0800

Ponzi scammer sentenced to 13,275 years in jail

29 Dec 2017 at 16:55

The Criminal Court on Friday sentenced Phudit Kittitradilok, 34, to a total of 13,275 years in jail for his pyramid scheme tricking about 2,600 victims out of 574 million baht.

However, he will likely serve 20 years since the Penal Code set that limit for the imprisonment for every offence with the penalty of 3-10 years, regardless of counts.

Earlier, public prosecutors told the court that from Aug 1, 2015 to Sept 1, 2016 Phudit, his accomplices at large and his companies -- The System Plug and Play and Innovision Holding -- organised seminars to invite people to invest in what they claimed were businesses involving beauty care, used cars, export, property development and foreign exchange.

They offered a 1% weekly return to investors, plus 5% of new investment money to those who recruited new members.

On Friday, Phudit was brought to the Criminal Court from the Bangkok Remand Prison as his bail had been denied since his arrest in Huai Khwang district of Bangkok in August.

The court found that Phudit committed 2,653 counts of fraud. It sentenced him to five years in jail for each count. The total jail term reached 13,265 years.

He was also found guilty of money-laundering and sentenced to 10 years in prison, increasing the term to 13,275 years.

Since he confessed, his prison term was halved to 6,637 years and six months.

His companies were fined 663.75 million baht each. Phudit and his companies were also ordered to repay about 574 million baht to their 2,653 victims plus 7.5% yearly interest.

Samart Jenchaijitwanich, an activist campaigning against pyramid schemes, said that the Ponzi scheme involved 5.3 billion baht and about 40,000 members. After the court's ruling, he said more victims were likely to file complaints, in addition to the 2,653 affected people who already did.

In the Mae Chamoi case, one of the most notorious Ponzi schemes involving oil trading during 1977-85, the court sentenced a key suspect to 154,005 years in 1989. She remained in jail for seven years and 11 months following two punishment reductions.

Bangkok Post

Freedom fading fast...

Nauts — Thu, 16 Nov 2017 14:57:39 +0800

Of the 65 countries assessed in their research, "32 countries have been on an overall decline since June 2016" with Thailand close to the bottom of the rankings.

The score this year put Thailand in the same group as Russia, China, Myanmar, Iran, Saudi Arabia, Egypt, Venezuela and Vietnam.

China has once again been ranked the worst, for the third consecutive year.

Meanwhile, Singapore, Malaysia, Cambodia and Indonesia were assessed as "partly free".

https://www.bangkokpost.com/news/politics/1...edom-in-decline

Safari Memory Leak

Nauts — Wed, 04 Oct 2017 13:14:08 +0800

Anyone experiencing Safari memory leak?

Safari will crash if opened too long.

1MDB Stolen Funds Witnesses Are...

Nauts — Wed, 06 Sep 2017 08:50:20 +0800

1MDB Stolen Funds Witnesses Are Scared to Talk, FBI Says

By Edvard Pettersson

6 September 2017, 06:25 GMT+8

U.S. cites Malaysian news report of shooting of A.G.’s driver
Jho Low doesn’t want civil forfeiture cases placed on hold

Possible witnesses to the alleged looting of billions of dollars from 1Malaysia Development Bhd are too scared to talk to U.S. investigators because they fear retaliation, according the Federal Bureau of Investigation.

Some people in "certain foreign countries" already assisting the criminal probe are concerned for their safety, while others say it’s too dangerous to cooperate, according to an FBI request to keep the names of its informants secret from the alleged masterminds of the 1MDB conspiracy.

Individuals who would otherwise be willing to provide information have told the government they’re worried about putting “the safety and security of both themselves and their families at serious risk," the FBI said Tuesday in a federal court filing in Los Angeles.

Bloomberg News

U.S. Company Offers to Take Financial Risk

Nauts — Fri, 11 Aug 2017 15:57:59 +0800

U.S. Company Offers to Take Financial Risk of New MH370 Search
THE ASSOCIATED PRESS (ROD McGUIRK)
11 August 2017, 11:05 GMT+8 11 August 2017, 12:09 GMT+8

Ocean Infinity said it remained hopeful that Malaysia would accept its offer to continue the search using a team of advanced, fast-moving deep-sea drones fitted with sonar equipment.

"The terms of the offer are confidential, but I can ... confirm that Ocean Infinity have offered to take on the economic risk of a renewed search," the company said in an email.

"We're in a constructive dialogue with the relevant authorities and are hopeful that the offer will be accepted," it added.

Voice370, a support group for families of the 239 people on board, said under the terms of the offer made in April, Ocean Infinity "would like to be paid a reward if and only if it finds the main debris field."

"Why hasn't Malaysia accepted this win-win offer?" Voice370 asked in a statement.

Malaysia did not immediately respond on Friday to the families' question.

Bloomberg

Keeping This Oil-Rich Region Happy

Nauts — Wed, 02 Aug 2017 16:03:22 +0800

Keeping This Oil-Rich Region Happy Is a Challenge for Najib
By Jason Koutsoukis and Pooi Koon Chong
2 August 2017, 05:00 GMT+8

Ex-UMNO vice president has set up own party in key Sabah state

Sabah and Sarawak provide bulk of seats to Najib’s coalition

If anyone can break Prime Minister Najib Razak’s stranglehold on Sabah, the Borneo state that holds the key to power in Malaysia, it should be Shafie Apdal.

Bloomberg Politics

Nvidia GeForce NOW

Nauts — Thu, 29 Jun 2017 07:05:45 +0800

First look: Nvidia GeForce Now brings premium gaming to Mac
By AppleInsider Staff
Monday, June 26, 2017, 04:41 pm PT (07:41 pm ET)

AppleInsider goes hands on with the latest beta version of Nvidia GeForce Now, a cloud gaming service that promises to deliver high-end gaming experiences to Mac.

http://appleinsider.com/articles/17/06/26/...m-gaming-to-mac

https://www.nvidia.com/en-us/geforce/products/geforce-now/#

PM asks Thais

Nauts — Fri, 10 Mar 2017 09:33:52 +0800

Pay 1% more in VAT, PM asks Thais

10 Mar 2017 at 04:00 3,360 viewed6 comments

NEWSPAPER SECTION: NEWS | WRITER: POST REPORTERS

PRACHIN BURI - Prime Minister Prayut Chan-o-cha has asked Thais to sacrifice by paying 1% more in value-added tax (VAT) to reap 100 billion baht for the state coffers.

The prime minister made the plea Thursday before a gathering of residents who welcomed him at Prachin Ratsadornamrung School in this province east of Bangkok.

He pointed to what he insisted is the "need" to raise VAT from 7%, though the finance minister assured locals a VAT rise would not come while this government is in office.

Gen Prayut argued the VAT rate has been kept at 7% for many years and only a 1% increase could generate more than 100 billion baht in additional tax revenues.

"Let me ask for this sacrifice. Can I? If this can happen, the state budget will increase and it can then be used to fund what members of the public are calling for," he said.

"The prices of [consumer] products should never be marked up too much [as a result of the VAT hike]. And I insist the government isn't broke ... the volume of loans sought are within the limit and public debts have even decreased," he said.

"People must learn to sacrifice", said chief government spokesman Lt Gen Sansern Kaewkamnerd. He warned the media against juxtaposing the prime minister's request for 100 billion baht via VAT with any suggestion the nation is broke.

The prime minister said he will press ahead with investment projects expected to yield good returns and lead to better revenue from next year onward, including high-speed train projects and double-track rail projects.

The prime minister, however, admitted the government might not be able to speed up the implementation of several of its projects due to some legal limits.

And despite reiterating the government was not running out of money and attempting to find more by forcing taxpayers to pay more, Gen Prayut said higher expenditure on various items loom.

If income does not increase to compensate, the country will go bankrupt. The taxation system was in critical need of an overhaul, he said.

Finance Minister Apisak Tantivorawong said the government plans to keep VAT unchanged at 7% for another year when the previous extension of the last period for keeping VAT at 7% ends on Sept 30.

VAT would not increase during the term of this government, he added.

http://www.bangkokpost.com/news/politics/1...t-pm-asks-thais

Singapore No Longer Shoppers’ Paradise

Nauts — Tue, 24 May 2016 07:48:32 +0800

Empty Stores Multiply as Singapore No Longer Shoppers’ Paradise

Pooja Thakur Mahrotri

May 24, 2016 — 5:00 AM HKT

Empty storefronts in Singapore’s prime shopping district may become a more common sight.

Vacancies in the city’s main Orchard Road area, a magnet for tourists lured by malls and Japanese department stores such as Takashimaya, have risen to a five-year high and across the island, they’ve soared to the highest since 2009. As economies around the region struggle with sluggish growth and consumers rein in spending, property brokers are expecting more retailers to scale back and close shop. And while rents have slumped from a peak in 2014, they haven’t fallen nearly enough to convince some brands to stay.

Here’s five reasons why Singapore can’t expect its status as a shoppers’ paradise to be restored anytime soon:
Tech Savvy

Singaporeans are among the most tech-savvy shoppers in Asia, with a greater percentage turning to online shopping than consumers in Hong Kong and Malaysia.

“Retail is changing because of e-commerce and malls will need to re-position themselves to cater for the future,” said John Lim, chief executive officer at ARA Asset Management, which owns malls in Singapore, Hong Kong and Malaysia. Malls will need to remodel to focus more on food-and-beverage outlets, entertainment, services and banking, and less on fashion and consumer products, he said.

http://www.bloomberg.com/news/articles/201...oppers-paradise

Maxis Free Spotify

Nauts — Sun, 01 May 2016 08:19:21 +0800

"MaxisONE plan 128, MaxisONE plan 158 and MaxisONE plan 188 customers gets it for FREE while enjoying more than 15GB of free Spotify data till 30 Sep 2016"

What happens after 30th Sept?

1MDB Says It's in Default

Nauts — Tue, 26 Apr 2016 09:43:39 +0800

April 26, 2016 — 9:32 AM HKT

1Malaysia Development Bhd. said it didn’t pay $50 million of interest on a $1.75 billion bond amid a dispute with Abu Dhabi’s sovereign wealth fund on who should be making the payment.

The company said it’s withholding an interest payment because Abu Dhabi’s International Petroleum Investment Co., which is the co-guarantor of the bonds maturing in 2022, hadn’t met the obligation either, according to an e-mailed statement ahead of a deadline on Monday night in New York.

"Whilst 1MDB has the funds to have made the interest payment, it is 1MDB’s position, as a matter of principle, that it was IPIC’s obligation to do so," the company said. "Until IPIC accepts that all obligations have been met, 1MDB is obliged to withhold payments and will seek legal recourse and resolution."

http://www.bloomberg.com/news/articles/201...nterest-payment

Asia stocks at mercy of oil moves

Nauts — Mon, 18 Apr 2016 07:53:58 +0800

Asia stocks at mercy of oil moves
Saheli Roy Choudhury | @sahelirc
44 Mins Ago

Futures pointed to weaker Asian markets on Monday, with oil in focus after a summit in Doha of top producers ended without an agreement.

http://www.cnbc.com/2016/04/17/doha-oil-ou...oil-prices.html

Airlines to pay up to 10 times present rate

Nauts — Wed, 06 Apr 2016 14:59:53 +0800

Wednesday, 6 April 2016
Sky-high DCA fees, airlines to pay up to 10 times present rate

by b.k. sidhu

PETALING JAYA: Airlines operating out of Malaysia will be expected to pay up to ten times more in fees charged by the Department of Civil Aviation Malaysia (DCA) effective April 15.

The increase in fees for everything from the usage of air space, air traffic facilities and other services to the air operator’s certificate (AOC) and the pilot’s flight licence will see a big increase under a review of fees and charges made by the DCA after 40 years.

http://www.thestar.com.my/business/busines...yhigh-dca-fees/

Saudi Arabia and Russia Agree Oil-Output Freeze

Nauts — Tue, 16 Feb 2016 17:42:37 +0800

Saudi Arabia and Russia Agree Oil-Output Freeze in Qatar

By Mohammed Sergie

February 16, 2016 — 5:13 PM HKT
Updated on February 16, 2016 — 5:27 PM HKT

Saudi Arabia and Russia, the world’s two largest crude producers, agreed to freeze output after talks in Qatar.

Freezing output at January levels will be “adequate” and the nation still wants to meet the demand of its customers, Saudi Oil Minister Ali Al-Naimi said in Doha after talks with Russian Energy Minster Alexander Novak. Qatar and Venezuela also agreed to participated in the freeze, Al-Naimi said.

"A freeze would not create an immediate U-turn but it creates a better foundation for the price recovery in the second half," Olivier Jakob, head of oil consultants Petromatrix GmBh, said in a note to clients before the meeting concluded.

Oil pared gains after the announcement. Brent crude was 2.4 percent higher in London at $34.20 a barrel, having earlier climbed as much as 6.5 percent.

According the International Energy Agency, Saudi Arabia produced 10.2 million barrels a day in January, below the most recent peak of 10.5 million barrels a day set in June 2015. Russia produced nearly 10.9 million barrels a day in the same month, a post-Soviet record, according to official data.

Qatar will lead monitoring of output freeze agreement, the nation’s Energy Minister Mohammad bin Saleh al-Sada said at a press briefing. Low oil prices haven’t been positive for the world, he said.

More than a year since the Organization of Petroleum Exporting Countries decided not to cut production to boost prices, oil remains about 70 percent below its 2014 peak. Supply still exceeds demand and record global oil stockpiles continue to swell, potentially pushing prices below $20 a barrel before the rout is over, according to Goldman Sachs Group Inc.

http://www.bloomberg.com/news/articles/201...-in-qatar-talks

Ikea loses right to use its own name in Indonesia

Nauts — Sat, 06 Feb 2016 07:50:36 +0800

Friday, 5 February 2016 | MYT 8:28 PM
Sweden's Ikea loses right to use its own name in Indonesia

by eveline danubrataandfransiska nangoy

JAKARTA: Swedish furniture giant Ikea has lost the right to use its own brand name in Indonesia after a legal battle with a local company that claimed the trademark, court documents released earlier this week showed.

The court decision could make foreign companies even more cautious to invest in Southeast Asia's biggest economy, which is already growing at its weakest pace since the global financial crisis.

"The clear message is that any business wanting to open up in Indonesia has to be very careful to register all its trademarks so they don't get hijacked," said Keith Loveard, head of risk analysis at Jakarta-based Concord Consulting.

"It's the fact of the law that you have to cross every 't' and dot every 'i'," he said.

In 2014, a Jakarta commercial court granted the rights to use the "Ikea" brand name to PT Ratania Khatulistiwa, a company that plans to sell its own furniture with the acronym for Intan Khatulistiwa Esa Abadi.

Inter Ikea System B.V., part of the Swedish company's franchise division, had registered the "Ikea" trademark with the Indonesian directorate-general of intellectual property twice, in 2006 and 2010.

But Ratania, which is based in the East Java capital of Surabaya, successfully argued at the Jakarta court that the furniture giant had not used the trademark for commercial purposes for three consecutive years.

Inter Ikea filed an appeal to the Indonesian Supreme Court, which was rejected last year, according to court documents uploaded to its website earlier this week. (http://bit.ly/23N1bDG)

Ikea opened its first Indonesian store in the outskirts of Jakarta in 2014. Indonesian retailer PT Hero Supermarket Tbk owns the franchise to operate the Ikea business in Indonesia.

The options now for Ikea are to file an appeal to the same court, change its name, or pay royalty fees to the Indonesian company, according to a legal expert contacted by Reuters.

Ratania could not be reached for comment. Ikea did not immediately respond to an email seeking comment, and calls to its Singapore office and Hero Supermarket went unanswered. - Reuters

http://www.thestar.com.my/news/world/2016/...e-in-indonesia/

McDonald's Next

Nauts — Tue, 12 Jan 2016 17:53:58 +0800

McDonald's has always been about consistency, speed and budget pricing.

Its Golden Arches can be neon beacons of hope in a strange land -- a place where you know you'll always get the exact burger and fries you are looking for, followed by pangs of guilt the next day.

But in Hong Kong, 40 years after the chain first entered the territory, signs of change glimmer on the greasy fast food horizon.

In December, McDonald's transformed one of its Hong Kong branches into the world's first McDonald's Next -- an evolved version of the brand that strives to be "modern and progressive."

http://edition.cnn.com/2016/01/11/foodandd...next/index.html