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1MDB is a responsible borrower!

yenyenboy — Tue, 06 Jan 2015 16:28:23 +0800

1MDB Is a ‘Responsible Borrower,’ Kanda Says Amid Debt Concerns
By Chong Pooi Koon and Elffie Chew Jan 6, 2015 1:37 PM GMT+0800

Arul Kanda, who was named president of 1Malaysia Development Bhd. yesterday, said the state investment company is a “responsible borrower,” amid a report it failed to repay a 2 billion ringgit ($563 million) loan last month.

“As far as the banking sector and the credit sector is concerned, we are responsible borrowers” and the company has never defaulted, Kanda, 38, said in an interview in Kuala Lumpur today. “We need to manage the use of our cash in the most efficient way for the company.”

1MDB, whose advisory board is headed by Prime Minister Najib Razak, said yesterday it’s embarking on a “strategic review” of its operations after criticism by opposition lawmakers over rising debt. Credit-default swaps insuring Malaysian government bonds against non-payment jumped today while the spread on 1MDB’s securities widened after the Edge Financial Daily said the company now has until Jan. 30 to repay its loan with local lenders.

Kanda declined to comment specifically on the Edge report, citing confidentiality agreements with the banks.

Kanda, who replaced Chief Executive Officer Mohd Hazem Abd Rahman, was formerly the head of investment banking at Abu Dhabi Commercial Bank PJSC. (ADCB) He has “extensive experience” in structured finance, corporate finance and restructuring in markets including the U.K., the Middle East and Malaysia, the company said.

“We have to recognize there are challenges, there are legitimate questions, legitimate queries that have been raised” on 1MDB, he said, referring to criticism the company has faced. “And it is incumbent on us to deal with that appropriately.”

Overdue Payment

1MDB’s loan with Malayan Banking Bhd. (MAY) and RHB Bank Bhd. was first due on Nov. 30, the Edge said, citing people it didn’t identify. Shares of Maybank fell as much as 4 percent in Kuala Lumpur trading, while RHB Capital Bhd. (RHBC) dropped as much as 3.2 percent, outpacing the 1.6 percent decline in the benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) Index.

“I don’t think this would be a systemic risk to the banks,” said Alan Richardson, an investment manager at Samsung Asset Management Co. in Hong Kong. Still, “this is a new problem that would compound more negatives into the banks” at a time when earnings have been weak, he said.

1MDB’s borrowings climbed to 41.9 billion ringgit in the year ended March 31 from 36.2 billion ringgit in the previous period, it said in November. 1MDB said then it had redeemed more than 4 billion ringgit from investments in segregated portfolio companies registered in Cayman Islands since the end of March.

Fitch Ratings Ltd. has said Malaysia’s contingent liabilities such as 1MDB’s borrowings are weighing on the sovereign rating outlook.

Credit Swaps

Credit-default swaps insuring Malaysia government debt against non-payment jumped 15 basis points to 130 basis points, Royal Bank of Scotland Group Plc prices show. That’s set for the highest in 11 months, according to data provider CMA.

The swaps rose 8 basis points Jan. 5 to 116.5 basis points, the highest since February last year, CMA data show. The swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements.

1MDB’s $3 billion of 4.4 percent notes sold to investors at par in March 2013 and due 2023 fell 3.1 cents to 95.903 cents on the dollar as of 12:56 p.m. in Hong Kong, sending yields up by 47 basis points to a three-month high of 5.02 percent, prices compiled by Bloomberg show.

Ringgit Weakens

Malaysia’s ringgit fell to the lowest since July 2009 and government bonds dropped as a slump in crude prices damped the outlook for the net oil exporter. The ringgit retreated 0.6 percent to 3.5557 per dollar as of 12:50 p.m. local time, according to data compiled by Bloomberg.

1MDB’s 2 billion ringgit loan that is overdue is part of a 5.5 billion-ringgit parcel of debt borrowed via subsidiary Powertek Investment Holdings Sdn. in May to refinance a 2012 bridge loan for the purchase of power assets, according to the Edge.

1MDB is preparing for an initial public offering of its power plant assets this year that may raise about $4 billion, people with knowledge of the sale said in November.

Source: http://www.bloomberg.com/news/2015-01-06/1...-edge-says.html

No Sodomise Allowed for Kelantanese

yenyenboy — Wed, 17 Dec 2014 09:08:14 +0800

Husbands may not sodomise their wives, Kelantan says

FMT Reporters | December 16, 2014

Deputy MB explains that the current hudud law suggests a husband may have anal sex with his wife.

kelantan sodomy2KUALA LUMPUR: PAS-ruled Kelantan intends to make the Islamic law it lives by crystal clear in regard to sodomy or anal sex as the current version lacks specificity on whether married couples are permitted to engage in it or not.

According to an article in Berita Harian, Deputy Menteri Besar Mohd Amar Nik Abdullah has confirmed that amendments have been formulated as the current Kelantan Shariah Criminal Code Enactment II, passed in 1993 was lacking.

Mohd Amar explained, “The amendment will state explicitly that a husband who sodomises his wife will be charged according to ‘takzir’ (corporal punishment).”

The current version only prohibits sodomy between men and among unmarried men and women.

“This gives the impression that a husband is allowed to sodomise his wife,” Mohd Amar explained.

Meanwhile Kelantan Menteri Besar Ahmad Yakob announced recently that a special meeting would be held on December 29 involving its state legislative assembly to table and pass amendments to its current hudud law in time for its tabling in Parliament as a private member’s bill.

Kelantan’s strict hudud laws cover theft, robbery, adultery, rape and sodomy and carry severe punishment like amputation, flogging and death by stoning upon conviction by a Shariah Court.

Source: http://www.freemalaysiatoday.com/category/...-kelantan-says/

Why Muslim cannot perform anal sex?? even for married couples... any muslim /k explain??

Ammoshaf Banggala Version

yenyenboy — Wed, 03 Dec 2014 21:30:24 +0800

Todei as usual i take public bus to go back home and there are two banggalas who sit beside me and left... out of the sudden, i saw this and i decided to post for sharing.. Sorry for the bad quality and brightness, TS is poor fag who use public transport and cheap phone.

Drillzzzz

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Importing Books from Overseas

yenyenboy — Thu, 21 Aug 2014 17:44:41 +0800

Dear Almighty /ktards,

I plan to import books for my CFA studies. May I know whether is there any custom taxes or fees charged on my books when going through Malaysia Customs?

Drillzz. Let's read.

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Cute Anime Dance

yenyenboy — Mon, 04 Aug 2014 12:02:31 +0800

https://www.facebook.com/photo.php?v=101525...7234594&fref=nf

Enjoice...

Ideal Man with Ideal Dxxk

yenyenboy — Wed, 30 Jul 2014 12:31:39 +0800

Just for Jokes.

[attachmentid=4073127]

Result:

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I cannot brain this.

/k tards wanna be the IDEAL MAN???

Australians are happy...

yenyenboy — Wed, 02 Jul 2014 17:42:41 +0800

Miner Lynas shifts Sydney HQ to KL

AAP JULY 02, 2014 6:08PM

RARE earths miner Lynas is shifting its Sydney headquarters to Kuala Lumpur as part of changes to reduce its costs.

IT is also cutting the number of contract workers and renegotiating contracts with suppliers.

The decision to move management staff closer to the company's production and sales facilities in Western Australia and Malaysia was made by new chief executive Amanda Lacaze.
"This streamlining of office locations is the first in a series of initiatives aimed at simplifying our approach and focusing on the highest value drivers in our business," she said.
Lynas shares dropped one cent to 13 cents.

Source: http://www.theaustralian.com.au/news/lates...cabe54707cce5e4

What Happen if Build in Msia?

yenyenboy — Wed, 25 Jun 2014 08:33:15 +0800

The House Of One: Berlin architect builds world's first church, mosque and synagogue under one roof

- Synagogue, church and mosque, the 'House Of One', to be built in Berlin
- Has central chamber that leads to separate spaces for each faith
- Backed by religious leaders, £35m project will be funded by donations

Muslims, Jews and Christians will worship under one roof as an architect sets out to make religious history.
The so-called House Of One will be a multipurpose synagogue, church and mosque set in the heart of Berlin.
Incredibly, the move has been met with unerring support from rabbis, imams and priests.

The £35m building, being paid for by donations, is set to be completed in 2018.
Last week, three religious leaders met to give their blessing to the project - and the first brick was ceremonially presented.
It was the culmination of five years of work, after archaeologists unearthed the city's first ever church - Petrikirche - which dates back to 1350.
'We decided we needed to use the space to develop a sign of peace and tolerance, rather than another old empty church,' House Of One spokesman Anna Poeschel told MailOnline.
'Petrikirche was the start of Berlin, which has now grown into a multicultural, multi-faith city. A lot has happened over the centuries, this is a sign of peace and tolerance.'

The building, designed by architect Wilfried Kuehn in a competition created for the project, will provide one of the only inner-city places of worship for Berlin's Muslims, with most mosques located on the outskirts.
Despite some voices of criticism, Ms Poeschel said the overwhelming reaction from all faiths has been welcoming.
'We have not always had as many Muslims in Berlin as in London. And this is the place where the Second World War started, with the persecution of Jews. This is a perfect symbol of peace.
'You hear so much these days of religions coming together in violence and terrorism so this is a different message.'
Each of the three areas in the House will be the same size, but of a different shape, Mr Kuehn points out.
There will be a central meeting place, with doors leading off into spaces for each faith.
In the mosque and synagogue there will be two levels to cater for the traditional gender divide. There will also be space to wash feet in the mosque.

The church will have just one floor, and will house an organ.
With different days of worship, congestion will be manageable.
Muslims attend mosque on Fridays, while Jews congregate on Saturdays and Christians pray on Sundays.
While each have different architectural requirements, architect Wilfried Kuehn insists they are not as different as many think.
For example, it has not always been customary for mosques to have a minaret - spire.
And according to ancient Christian designs, churches do not need a tower.

Source: http://www.dailymail.co.uk/news/article-26...l#ixzz35beCky6P

Summon Movie Pro /ktards

yenyenboy — Fri, 16 May 2014 19:06:58 +0800

I remembered when i was secondary school, I watched TV2 and there was a midnight movie, the ending was about the young granddaughter/lady dancing slowly with the old man/grandfather outside the house and ended with "moon river" song.

Anyone knows about this movie name?

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