Lowyat.NET: Latest topics by ILoveLalat.net

This Year’s 2018 Worst BN Minister

ILoveLalat.net — Mon, 31 Dec 2018 22:30:12 +0800

Good evening everyone! It’s that time of the year, with the Sedition Act out of the way, it is now time to vote our past BN ministers for the worst performance of the year. Unfortunately, due to PH’s victory, they only had a short stint of only 128 days, nevertheless, someone should deserve consolation prize.

My top 5 worst ministers goes to:
1st Najib Razak
2nd Ahmad Mazlan
3rd Nazri Abdul Aziz
4th Liow Tiong Lai
5th Tengku Adnan

What about you? Cast your votes now!

Malays National

ILoveLalat.net — Sun, 30 Dec 2018 21:31:21 +0800

No racing here

It’s OKAY to Make U-Turns

ILoveLalat.net — Sun, 09 Dec 2018 07:40:23 +0800

Ladies and gentlemen, your “idol” is correct!

PM: It’s okay to make u-turns

PETALING JAYA: It is okay for leaders to backtrack from their initial promises because even angels make mistakes some times, says the Prime Minister amidst criticisms over several “u-turns” in government policies lately.

Tun Dr Mahathir Mohamad said sometimes people made mistakes and had to backtrack when they realise it would be wiser to do so.

Sometimes, we go the wrong way, we turn around but only if necessary. We are not perfect people.

“Although most of us are angels, angels make mistakes. So, when angels make mistakes, they turn around,” he said after the Pakatan Harapan presidential council meeting here yesterday.

On the suspension, Dr Mahathir said the government’s decision came about following a public outcry.

“There were many opinions from many people. Prior to the announcement, they didn’t express it (their opinion). So, when we announced it, many people weren’t happy.

“If we were to ask the opinions of the 33 million Malaysians, it would be quite a challenge. So, if they react negatively, we take that into consideration,” he said, adding that a decision should be announced soon.

He also dismissed speculation about a Cabinet reshuffle.

The government, he said, could not afford to have too many agencies, especially those whose fundings were from unknown sources.

“Although these are government agencies, they were abused and used for the (political) party. We have to shut them down.

“When we shut down these agencies, many officials and staff will be affected and could be laid off.”

Dr Mahathir said the government was in the midst of collecting information of the officials and staff to find out if they were involved in politics.

“We cannot continue these agencies. We don’t ‘steal’ money as we only depend on the government’s revenue. We can’t afford to spend so much,” he said.

It was reported in July that at least seven agencies under the Finance Ministry, including Ministry of Finance Inc, the East Coast Economic Region and the Iskandar Regional Development Authority, might be dissolved.

On the possibility of by-elections in Cameron Highlands and Rantau, he said Pakatan was ready to field candidates from the same parties that had contested in these seats at the last general election.

“It is up to the parties to select their candidates when it is called and they will contest under the Pakatan Harapan logo and not PKR’s,” Dr Mahathir, also the Pakatan chairman, said.

Read more at https://www.thestar.com.my/news/nation/2018...ieevmO3b7Wl7.99

Let's Help Increase Environmental Awareness

ILoveLalat.net — Tue, 24 Apr 2018 15:05:45 +0800

Good day everyone, need this to fill up to spread word of environmental awareness. Do ever realise that hybrid cars are expensive? And even if it does get reduced down, would one ever buy a hybrid car and consider on the environment. I will appreciate if everyone give two minutes to fill in this survey.

Link: https://docs.google.com/forms/d/e/1FAIpQLSc...8j3iFQ/viewform

BREAKING: 17 Dead in High School Shooting

ILoveLalat.net — Thu, 15 Feb 2018 07:36:30 +0800

(CNN): At least 16 people are dead after a school shooting in Parkland, Florida, law enforcement officials told CNN.

The suspect, a former student, was taken into custody "after he committed this horrific, homicidal, detestable act," Broward County Sheriff Scott Israel said. Law enforcement sources told CNN that the suspect has been identified as Nicolas Cruz.

At least 14 people have been taken to area hospitals following the shooting at Marjory Stoneman Douglas High School. The shooting caused "numerous" fatalities, Broward County Public Schools Superintendent Robert Runcie said. He did not know the exact number.

Law enforcement responded to reports of a shooting at the school shortly before 3 p.m. The shooting sent students and staff streaming out of the school in a panic.

Immediately after the shooting, aerial footage from CNN affiliate WSVN showed people lying on the ground outside the school, being treated for injuries and moved to ambulances.

Freshman Kayden Hanafi said he heard two gunshots and saw people running out of another building on campus. As he and his classmates went into lockdown in a classroom, many thought the noise might have been firecrackers.
"It's really a blessing to still be alive," he said.

Teacher: I hid 19 students in the closet.

Nicole Baltzer, 18, said she was in trigonometry class about 10 minutes before the end of the school day when the fire alarm went off. As students evacuated, she heard six gunshots and everyone started running back inside the school, Baltzer told CNN's Sara Ganim.
"I heard so many gunshots, at least like six. They were very close," Baltzer said.

A police officer told her to close her eyes as she walked past a classroom with broken glass, telling her "there's nothing good to see in there," she said.

A freshman named Aidan posted a photo on social media from inside his math class while on lockdown. Since then, he has left the building.
"We have been liberated. God bless, America," Aidan tweeted after being evacuated from the building. "Love each other. You may never know when it may be the last day you meet someone."

There had been a fire drill at the school earlier in the day, leading some to believe at first that the afternoon incident was another drill, a student told CNN affiliate WSVN. "Everyone just started freaking out."
"But then word started going around that it was shots and not just, like, something else, everyone just started running towards the canal," the student said.

Parkland, with a population of 31,000 people in 2016, was named Florida's safest city last year, according to an analysis by the Washington-based National Council for Home Safety and Security, a home security industry trade association. The south Florida city had seven reported violent crimes and 186 property crimes the previous year, according to the analysis.
Stoneman Douglas High School had an enrollment of about 3,100 students in the 2015-16 year, according to the National Center for Education Statistics.

As news of the shooting spread, desperate parents gathered near the property searching for their children.
Lissette Rozenblat told CNN that her daughter safely evacuated the school and took shelter at a nearby Walmart.

"She was very nervous, she said that she could hear the person who was shot crying out for help, and was just a nervous wreck," Rozenblat said.
Agents from the Miami office of the Bureau of Alcohol, Tobacco, Firearms and Explosives are responding to the scene, a spokesman said.

Clarification: Earlier reports from WSVN said that 20 people may have been injured. CNN has not confirmed the number of injured. This is a developing story and will be updated.

https://edition.cnn.com/2018/02/14/us/flori...ting/index.html

Postal Voting Question

ILoveLalat.net — Sun, 28 Jan 2018 12:16:26 +0800

I have heard numerous rumours about people saying postal or overseas voting not being counted. To some extent, how true is it? Need help as no way I'll be here when this happens.

IPO: MYETF Dow Jones U.S. Titans 50

ILoveLalat.net — Tue, 23 Jan 2018 09:49:43 +0800

New ETF listing coming soon! Will be priced at U$1.00 and NOT RM1.00.

Timetable for IPO
MYETF DOW JONES U.S. TITANS 50

Opening of application: 15 Jan 2018
Closing of application: 09 Feb 2018
Balloting of application: 13 Feb 2018
Allotment of IPO shares to successful applicants: 27 Feb 2018
Tentative listing date: 28 Feb 2018

Prospectus: http://disclosure.bursamalaysia.com/FileAc..._DS_ATTACHMENTS

Source: Bursa Malaysia

IPO: GDB Holdings Berhad

ILoveLalat.net — Fri, 13 Oct 2017 15:44:47 +0800

New IPO!

Prospectus Exposure: https://www.sc.com.my/prospectus-exposure-g...oldings-berhad/

IPO: Wegmans Holdings Berhad

ILoveLalat.net — Tue, 19 Sep 2017 12:17:11 +0800

Long time no see everyone, new IPO coming soon!

Prospectus Exposure: https://www.sc.com.my/wp-content/uploads/en...mans/wegmas.pdf

Happy 70th Independence Day India!

ILoveLalat.net — Wed, 16 Aug 2017 18:12:59 +0800

All under one video, bon appetit.

[fbv]1069600439809708[/fbv]

Link: https://www.facebook.com/EastIndiaComedy/vi...69600439809708/

Lowyat.net Should Go Bursa Listing

ILoveLalat.net — Mon, 07 Aug 2017 14:17:29 +0800

Even Hot Copper forums in Australia is listed and is a successful company. Why don't the owner of Lowyat go for listing on the stock market, at the very least the LEAP Market, it is better to do that no?

Ex-Uber CEO: I will do "Steve Jobs"

ILoveLalat.net — Mon, 31 Jul 2017 19:32:17 +0800

After Meg Whitman’s exit, Uber’s CEO search is down to only male candidates — as its board struggles and Travis Kalanick meddles

As Uber searches for its next CEO, some directors worry ousted chief Travis Kalanick is trying to game the outcome in his favor

That follows the exit of Hewlett Packard Enterprise CEO Meg Whitman from consideration to lead the ride-hailing company
Sources with knowledge of the situation said the group of four final candidates being considered are all men and all CEOs

Kara Swisher | @karaswisher
6 Hours Ago
Recode

Warring factions within factions, conflicting back-channeling, intense media scrutiny, questionable foreign influences and a capricious leader whose jarring moves leave everyone in a state of perpetual uncertainly.

The Trump administration, right?

Well, yes, but also Uber, as it nears its much anticipated decision on who will be its next CEO.

And, according to sources, that top leader is not going to be a woman, as the board of the car-hailing company struggles to move forward.

To add to the drama: Some directors worry that its former CEO Travis Kalanick — who was ousted — is trying to game the outcome in his favor, after he told several people that he was "Steve Jobs-ing it." It is reference to the late leader of Apple, who was fired from the company, only to later return in triumph.

That's why, while I am always loathe to dump a kitchen sink's worth of reporting in one story, it's hard not to since this particular pile of dirty dishes is so stuck together that it's almost impossible to pry them apart at Uber.

"If there was no hair on this dog, this would be a no brainer for anyone to take this job," said one person close to the search of Uber's next leader. "But this is the hairiest company anyone has ever seen."

Ew. But pretty much true.

So, in what is probably a vain attempt to clarify the situation, here's the state of what is a very confused play:
Boys club

With the exit of Hewlett Packard Enterprise CEO Meg Whitman from consideration, several sources with knowledge of the situation said the group of four final candidates being considered are all men and all CEOs. (Also: Only one of those is a person of color.)

Among those choices is outgoing GE CEO Jeff Immelt. But Immelt is not, said several sources, the top choice of several members of the search committee and also within Uber's top ranks. Some are worried that — while he is obviously a very experienced manager — he lacks the entrepreneurial drive to take the company to the next level.

In other words, he's too much a corporate suit and not enough a geek pirate. (Anywhere else but in tech, this is not seen as a bad thing, but here we are.)

Immelt aside, sources said that the inclusion of more women in key decision-making roles at Uber will come via the addition of more independent board members and top execs rather than as its main leader.

That, of course, will be a major disappointment to some, especially given major problems at Uber involve sexism and sexual harassment. While gender of a leader should not matter to dispatching such appalling behaviors, the symbolism over the appointment of a female CEO at Silicon Valley's most toxic-bro startup is unquestionable.

But there are also not that many top women CEOs to pick from. Execs like Facebook's Sheryl Sandberg and General Motors' Mary Barra were not interested, said sources, and others pursued, like EasyJet CEO Carolyn McCall, did not pan out.

It had been hoped that the decision on who will be the next leader of Uber would be completed within the next week, but trouble getting the board to coalesce and trust each other has and continues to complicate the effort.

In addition, sources said the not all board members had met all the top candidates as of this weekend, so that no vote on any one of them had been planned or is planned immediately. (Uber's board now meets regularly every two weeks, so that could change.)

That lack of cohesion impacted the courting of Whitman, which never resulted in any vote (and which had never been scheduled at all, despite one report that it was). This was largely because she had not met with all directors before she suddenly pulled her name out of consideration late last week.

Sudden indeed. Whitman was expected this past weekend to meet in person with more directors, including Wan Ling Martello of Nestlé and Arianna Huffington, which never happened.

Whitman out!

Whitman's departure from the Uber fray was considerably more complicated than has been previously reported. The well-known exec, who is also one of the most prominent women leaders in tech, was indeed interested in the job.

That included having several substantive discussions with directors, where she made a series of suggestions on how to fix Uber.

Still, sources close to Whitman said she was never formally offered the job by Uber's board, even though she certainly was intrigued by the possibility.

And why not? Such a role would have been the capstone of a long and largely successful career, most especially in growing eBay to its heights from a small startup. Turning around Uber and taking it public would have been the ultimate addition to her legacy.

But board disagreements, worries about whether all the myriad of problems at Uber had surfaced and concerns about the continued involvement of Kalanick, as well as the public disclosure of Whitman as a possible candidate, ended that possibility.

"Uber's CEO will not be Meg Whitman," she tweeted on Thursday, days after media reports on Tuesday by Recode and Bloomberg that disclosed Uber's interest in her. That then put pressure on Whitman, a situation made worse by another report in Axios that indicated that she was not a unanimous choice of the board.

Such mishegas irked Whitman, who expected a more — ahem — professional process. "What a mess," said one person. "Why should she get dirtied by their playground antics? It's like a sandbox over there."

Well, to be fair, more like a really nerdy version of "Game of Thrones," with 100 percent less dismemberment but 53 percent more intrigue.

Still, as Recode previously reported, Whitman was an early investor in Uber and has helped out with coaching from time to time, especially with Kalanick, so she did have some familiarity with the unusually juvenile management style there.

But sources said she did not like the process, and gave the board a 48-hour deadline to decide if they seriously wanted her to be CEO. While some on the board wanted to move forward immediately, others — Huffington, for example — did not since she had not met them all in person.

"It was artificial urgency, even if Whitman might be the right choice," said one source.

No matter! Whitman out!

We have to talk about Travis

That might not have mattered, as Whitman was also worried more specifically about further disclosures to come from the company related to its lawsuit with Alphabet's Waymo, especially how involved Kalanick was in the allegations leveled against Uber.

"Who knows what could fall out that the closet over there?," said one person, reflecting the concerns of many candidates who have spoken to Uber, including Whitman. "There could be even more skeletons."

Kalanick's continued role figures large in the every person I
spoke to who has been contacted about the CEO job.

What's the biggest problem at Uber?, I asked.

"Travis," said one

"Oh, Travis," said another.

"Man, he's brilliant and so important, but who wants to deal with Travis?," said yet another.

If that sounds like a real sad country song, titled "The Travis Blues," you are not far off the mark.

This was certainly not the plan when Kalanick was dispatched to Tahiti to sail around a glamourous yacht — owned by media mogul Barry Diller, with fellow guests like CNN's Anderson Cooper — to cool after he was forced out at Uber.

He initially had agreed to take just a temporary leave, a move that became permanent after a group of key investors — including Benchmark — demanded his full departure a week later.

But once he returned from the South Seas, his ardor for meddling in the company did not end. According to numerous insiders, the pugnacious entrepreneur has continued to try to involve himself in daily operating decisions, so much so that top execs have been mulling how to get help from the board to rein him in.

"It's not stopped," said one top exec about Kalanick up in the grill of the operating group that is running Uber. "None of us know what to do since it is Travis."

In addition, to cut off Kalanick's access, the Uber board has reinforced a policy that all directors get the same limited access to information about Uber's ongoing operations. "We have had to put guide rails on him," said one person involved. "Even if he keeps trying to break through them."

Indeed, Kalanick was considered by many directors and investors to be obstructive to the process of finding a COO before his departure as CEO.

And there have been more signals that he has been unhappy about this status. Since he left, Kalanick has told numerous people, including at least one job candidate, that he was "Steve Jobs-ing it," an apparent reference to the purge and later return of the legendary Apple founder at the company.
(As I have said before, I knew Steve Jobs, Steve Jobs was a person I wrote about and — you got it — Travis Kalanick is no Steve Jobs. But I digress!)

But the key tenet in this comparison is that the tarnished tech hero leaves the scene to wander in the desert for years before the triumphant return. Instead, what has been described to me by many is an entrepreneur who cannot let go and, in fact, has been trying to plot ways to increase his grip.

Why? "If you think about it, Uber has been his life and it's only more so with his terrible personal situation," said one person, who is fond of Kalanick, referring to the recent tragic death of his mother and the serious injuries sustained by his father in a boating accident. "Giving up Uber is not easy."

As the board turns

And being with each other in a cohesive manner is not something Uber's current board seems capable of either, given all the odd back-channeling and frequent miscommunications that seem to crop up.

While there was a recent dinner at San Francisco's Garabaldi's restaurant that included Huffington, Ling and two other Uber board members, TPG's David Trujillo and Benchmark's Matt Cohler, to try to create some level of comfort, there is a lot to repair.

Here's a clue to how much: The continued media leakage from the CEO process. While this is not completely uncommon — the Microsoft CEO search got a lot of ink — what is unusual is how varying the accounts of the same meetings or circumstances are at Uber. In fact, they are often diametrically opposed to each other.

This is something that many who have been in touch with Uber have experienced. "Consensus is not something you are feeling is happening there," said one person, which makes every possible move seem suspect.

(Have to seen the really complexly plotted spy thriller "Atomic Blonde," where everyone seems to be lying and then lying about lying? Uber is more confusing.)

That's why a recent attempt to discuss a funding offer involving both secondary sales and a new investment from Japanese investor SoftBank has been so riven. While I will not get into the particulars in this hairball of a story here — unless you really want to hear about transfer restrictions, tender offers and more right now — suffice it to say that it has turned into a drama about whose side SoftBank leader Masa Son will land on.

Let me be clear, this is before any investment, which really should not take place without the cooperation of the new CEO, even if there is some urgency in making sure SoftBank's $100 billion fund does not favor only Uber's rivals. Since it just made a big investment in Southeast Asia's Grab, many at Uber remain fretful.

Also, a related cause of tension was a Bloomberg report that Benchmark was mulling selling all of its 10 percent stake in Uber to SoftBank, which sources said was not true. While the venture firm might sell some of its stake if any transaction takes place, sources said Benchmark was wary that such a story was meant to weaken it.

That might not be so far-fetched given the deep tension between Benchmark's Bill Gurley — who left the Uber board in favor of his partner Cohler — and Kalanick and the level of mistrust that has developed over time.
"Every single act feels like it might have another meaning," said one person familiar with the situation. "Even if it does not."

What is all boils down to is the deep concerns around control of Uber's fate: Who has it and who is angling for it.

That distrust has left the board at times in a kind of odd face-off that appears to be more perception than reality, once you really plum the depth of the concerns.

Consider the possible return of Kalanick as CEO, which most will finally admit is overblown unless he decides to go full throttle and end up in a legal fight with the company he founded. In reality, without the support of board members Ryan Graves and Garrett Camp, Kalanick has none of the kind of leverage than has been reported.

"Travis would have to blow it up completely to get his job back," said one major investor, familiar with the cap table of Uber. "And maybe he is crazy enough to do that, but he'd better bring a lot more ammo."

What I can say for sure is that the entire company is leaking like sieve and that the Trump White House has a tighter press ship. Which brings us back to the beginning — if Uber wants to move forward, it had better lose that meme and get back to building the kind of company its employees so desperately want to.

Said one of those top execs to me tonight: "When is this going to stop, so we can do our jobs?"

It's a very good question for the Uber board. Whether they can do their only real duty as directors — hiring a CEO — and make that happen soon is unclear.

One silver lining: Anthony Scaramucci is currently busy with another gig.

—By Kara Swisher, Re/code.net.

Source: CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.

IPO: Prudential Malaysia

ILoveLalat.net — Thu, 20 Jul 2017 18:10:00 +0800

Not one but three NEW IPOs!!

P.S. Anyone wanting to open topics for Great Eastern and Tokio Marine, can do as so. Too many topics to manage.

Foreign insurers planning RM8.57b of Malaysia deals

KUALA LUMPUR: Overseas insurers including Prudential Plc are pursuing plans to sell stakes in their Malaysian units, in deals that could raise at least a combined US$2bil (RM8.57bil) and help them comply with foreign ownership limits, people with knowledge of the matter said.

Prudential has asked banks to pitch for a role advising on a domestic initial public offering of its Malaysian unit, an option it is considering alongside a potential stake sale to an investor, according to the people.

Singapore’s Great Eastern Holdings Ltd. is also exploring cutting its local holding to 70 percent through a sale or IPO, the people said, asking not to be identified because the details are private.

A sale of a 30 percent stake in Great Eastern Life Assurance (Malaysia) Bhd. could raise about RM5bil (US$1.2bil), while the disposal of a similar stake in Prudential Malaysia Assurance Bhd. would fetch at least RM3bil, the people said.

Japan’s Tokio Marine Holdings Inc. has appointed a bank to advise on options for cutting its stake in its local unit, which could raise around RM1bil, according to one of the people.

Foreign insurers have until end of June 2018 to reduce their holdings in local firms to 70 percent at most, one person said.

The country’s central bank has been weighing tougher enforcement of a cap on foreign ownership as it seeks to boost local participation in the industry, people familiar with the matter said in April.

Representatives for Great Eastern and Prudential declined to comment, while a representative for Tokio Marine didn’t immediately answer emailed questions.

The central bank will continue to engage with the insurers on their plans, Bank Negara Malaysia said in a statement, declining to comment further.

Any companies that opt to pursue IPOs would join Manulife Holdings Bhd. and Allianz Malaysia Bhd., the only local insurers with majority foreign ownership that are traded on the Kuala Lumpur exchange.

The deals would help extend a rebound in Malaysian first-time share sales, which have raised US$1.7bil this year, up from US$255mil during the same period in 2016, according to data compiled by Bloomberg. - Bloomberg

Source: The Star

Link: http://www.thestar.com.my/business/busines...SOkWE3fhGKgI.99

MAS Screw Up on Seats

ILoveLalat.net — Mon, 10 Jul 2017 11:37:40 +0800

We paid RM150 for three people to book at the same row and we got ripped off and they "randomise" all of us and blames the "computer" for messing with the error. We booked the aisle and seats accordingly and we paid that much cause you know, we do not want to end up like Robert Dao. Sekarang, we've been treated like one now! And we paid for it! It's not free seating!

Had it been free seating, we'll sure not to make a fuss but right now, they're ripping off us. So much for the airline!

IPO: Kejuruteraan Asastera Berhad (“KAB”)

ILoveLalat.net — Wed, 21 Jun 2017 21:28:51 +0800

Prospectus exposure on Kejuruteraan Asastera Berhad (“KAB”) has just been released to the public.

Link: https://www.sc.com.my/prospectus-exposure-k...sastera-berhad/

Last date of public viewing will be on the 14th of July.

LEAP Market (Current IPO: Baba Eco Group)

ILoveLalat.net — Fri, 16 Jun 2017 14:05:22 +0800

Good day everyone, with Bursa getting a hive of activity on IPO listings, here we come for a new board which could potentially list more companies than ever on Bursa for the Malaysia Small, Medium and Enterprise Corporation (SME) companies. For everyone's benefit, LEAP stands for Leading Entrepreneur Accelerator Platform (LEAP) Market. This market is introduced in order to tackle the fund raising issues that are currently being faced with SME companies wanting to go for a listing on Bursa to raise capital and potentially open up to newer markets.

Because most industry experts and the Ministry of International and Trade and Industry (MITI) are anticipating a vast number of potential listings over the coming years (probably hundreds) with limited investors participation and with the SME industry rapidly growing in Malaysia, it will be best to create only a single topic integrating all the potential and past listings of LEAP IPOs here so as not to litter a lot of and presumably abandon topics that may be left out post-listing. Probably the first few IPOs on LEAPS may get some media coverage but not anticipating that all companies will get the spotlight so it will be best to conserve some space here. In the next post, I will reserve a list of past or current LEAP IPOs and after a company have achieved the listing status on Bursa, it will be achieved with the page numbers listed there. I'll try my best to update the topic as frequent as possible. If anybody disagree or agree with this, do let me know in the upcoming posts.

So for now, let's introduce as a summary of what the LEAP Market is about and what are the criteria for listing:

Who can participate?

Unfortunately, unlike both Main and ACE Market boards and like South Korea's KONEX, this board is specifically only for sophisticated investors only. What do they mean by "sophisticated investors"? Basically High Net Worth Investors or HNWI are only allowed to secure allotments and trade on the market. Those who can go private placements are HNWIs and are likely eligible to participate in this market. This is accredited under Schedule 6 and 7 of the Capital Markets Services Act 2007 which can be referred here:

Link: https://www.sc.com.my/wp-content/uploads/en...full_121228.pdf

Now a lot of people have been asking here what are the criteria for being a "sophisticated investors" or "high net worth individuals (HNWI)", I'll say it once here,

The offer or invitation made to an individual only if:

a) The total net personal assets, or total net joint assets with his or her spouse,
exceed three million ringgit or its equivalent in foreign currencies, excluding
the value of the individual’s primary residence;

b) The gross annual income exceeding three hundred thousand ringgit
or its equivalent in foreign currencies per annum in the preceding twelve
months; or

c) Jointly with his or her spouse, has a gross annual income exceeding four
hundred thousand ringgit or its equivalent in foreign currencies per annum in
the preceding twelve months

And even without the high level barrier of entry, this market is very likely to be volatile and also at high risk as the stocks are more likely to be illiquid due to the absence of the general market and therefore is treated as an "exclusive market for the sophisticated". However, there are special exemptions to this rule which includes anyone who is an employee and is offered shares by the company itself. Other non-affiliated parties are not allowed to participate in the board.

What are the criterias and ways to issuing shares?

This board does not necessary require the approval from the SC. However, like all other boards, the bourse has the final say on whether to allow the company to list on Bursa or getting the application rejected. In addition, they must be a public company that is incorporated in Malaysia and must apply via an Approved Adviser. The shareholding spread must maintain at least 10% of the sum of ordinary shares for the public shareholders at admission.

There are a number of avenues the company can choose to offer shares by;

1) Either issuing new shares or listing existing shares by way of introduction.

2) The traditional way (Public offer, private placements, bookbuilding etc)

3) Sale of shares by promoters (Only possible if the company generates 1 full financial year of operating profits, registered with the Securities Commission, promoter's shareholding is to be placed under moratorium on at least 45% of the enlarged number of issues for the next 36 months after a full 1 year post-listing)

As for timetable of the IPO, stock ticker, ISIN, stock code, same rules apply on Bursa. The company also must apply the IPO via an advisor is not allowed to list on their own.

Ways of which the company must disclose the informations

Most of the rules retain about the same. However, there is a significant difference from the both boards is that a company is required to announce their financial results to Bursa, semi-annually and allow their financial statements to be audited annually. Any corporate news and information must be immediately to the public as per usual. For the LEAP Market, do be aware that there is no profit track record required for SME companies and this may in turn, be subjected to large swings in share prices be it very positive or very negative. However, failure to comply with the submission of the financial reports, the companies will be subjected to suspension and possible delisting procedures taking into effect.

Also, do bear in mind that only an information memo is required and that prospectus is not required for this board. Therefore, investing decisions like this may be difficult and may result in losses.

Basically, that is all for the topic. I'll update more changes to the policy of LEAP Market should they do as per so. As stated earlier, I'll post a list of companies that are going for listing and already listed IPOs below.

More from: http://www.bursamalaysia.com/misc/system/a..._FAQ_150617.pdf

UPDATE (25/7/2017): With today's launch of the Leap Market, Bursa has created a new page showcasing the overview of the new market and listings bound to approach the board.

Link's below: http://www.bursamalaysia.com/market/leap/

Source: Bursa Malaysia

Chief: Ini Semua Agenda European Union

ILoveLalat.net — Sat, 03 Jun 2017 10:53:37 +0800

Paris Agreement is European ploy to put the US economy in shackles, says EPA chief Scott Pruitt

- EPA Administrator Scott Pruitt said European leaders want the United States to stay in the Paris Agreement because it puts America at an economic disadvantage.

- European leaders rejected President Donald Trump's suggestion he would renegotiate the accord.

- "The United States has a seat at the table. After all, we're the United States," Pruitt said.

European leaders urged the United States to stay in the Paris climate agreement so they could suppress the American economy, Environmental Protection Agency Administrator Scott Pruitt said Friday.

"The world applauded when we joined Paris, and you know why? I think they applauded because they knew it was going to put this country at an economic disadvantage," he said during a White House press briefing. "And the reason European leaders ... that I think they want us to stay in, is because they know it will continue to shackle our economy," he said.

Pruitt's comments are remarkable because the United States has historically counted many European countries as its closest strategic allies. The U.S. is also the European Union's largest trade partner and its biggest export market.

"The United States has a seat at the table. After all, we're the United States" - Scott Pruitt, EPA administrator

Pruitt's remarks echoed comments by President Donald Trump on Thursday, when he announced he was pulling the United States out of the Paris Agreement, an international treaty aimed at mitigating the effects of climate change.

Trump said he was open to renegotiating the Paris Agreement or creating an entirely new accord after the United States withdraws.

Leaders of major European nations roundly rejected that prospect. In a statement to CNBC, a European Commission official said, the "Paris Agreement is non-negotiable."

Asked how Trump would negotiate given that European leaders are not interested, Pruitt suggested the United States could not be sidelined.

"The United States has a seat at the table," he said. "After all, we're the United States."

Pruitt: Accord cost us a substantial amount of money

It is unclear what a negotiation would look like. For one, the Paris Agreement is the result of more than two decades of climate diplomacy. And while the accord requires signatories to submit plans to reduce their greenhouse gas emissions, it gives them wide latitude to create plans to meet those targets and does not bind them legally to achieve them.

Pruitt said any deal that requires the United States to set emissions targets that are enforced through domestic regulations or laws should be ratified by the Senate.

The United States has largely reduced its carbon emissions through technological innovation, particularly through advanced drilling methods that have allowed American producers to tap vast supplies of natural gas. Pruitt said the United States could contribute to global emissions reductions by exporting its technology and know-how.

There is significant opposition to the key technology behind the U.S. shale gas boom — a process called hydraulic fracturing — in Europe. The State Department under Hillary Clinton attempted to encourage natural gas fracking in other countries, but the program has had limited success.

Sos BBQ: http://www.cnbc.com/2017/06/02/european-le...-epa-chief.html (CNBC)

First Ever IPO from Brunei Set to Debut In...

ILoveLalat.net — Wed, 31 May 2017 15:45:24 +0800

Bank Islam Brunei said to choose Malaysia for US$500mil IPO

KUALA LUMPUR: Bank Islam Brunei Darussalam Bhd has picked Malaysia as the destination for a planned initial public offering that could raise as much as US$500mil, according to people familiar with the matter.

The nation’s biggest lender has asked banks to pitch for roles on the first-time share sale and is expected to choose advisers as soon as next month, said the people, who asked not to be identified because the process is private.

Bank Islam, which also considered Singapore and London for the offering, could list on Bursa Malaysia this year, the people said.

The IPO would be the first from a company based in Brunei, an oil-rich country about the size of Delaware that doesn’t have its own stock exchange, according to data compiled by Bloomberg.

First-time share sales in Malaysia raised US$833mil so far this year, up from US$235mil during the same period last year, the data show.

Shareholders of Bank Islam include the Brunei finance ministry, the Sultan Haji Hassanal Bolkiah Foundation, private equity firm Fajr Capital Ltd. and about 6,000 Bruneian investors, according to its website.

A media relations representative for Bank Islam didn’t immediately respond to an email seeking comment during a public holiday in the sultanate.

The lender, formed through a 2005 merger of Islamic Bank of Brunei with Islamic Development Bank of Brunei, had 7.5 billion Brunei dollars (US$5.4bil) of total group assets at the end
of 2015. Its Tier 1 capital adequacy ratio was 23.3% at that time, its website shows.

Bank Islam, based in the capital of Bandar Seri Begawan, has 15 branches across Brunei and employs more than 700 people.

Brunei gained independence from the British in 1984 and has been ruled by Sultan Hassanal Bolkiah since 1967. The nation, nestled between the Malaysian states of Sabah and Sarawak on the island of Borneo, has a population of about 420,000, according to 2015 data from the World Bank. - Bloomberg

Source: The Star

Link: http://www.thestar.com.my/business/busines...CxxABy6DpgFX.99

IPO: Bank Islam Brunei

ILoveLalat.net — Wed, 31 May 2017 15:33:26 +0800

This is American Idol!

ILoveLalat.net — Wed, 10 May 2017 22:10:14 +0800

ABC announces revival of 'American Idol' next season

Posted: May 10, 2017 4:44 AM
Updated: May 10, 2017 4:44 AM

By DAVID BAUDER
AP Television Writer

NEW YORK (AP) - ABC announced a deal Tuesday to revive "American Idol," only a year after the powerhouse music competition aired its 15th and last season on Fox.

The show that dominated television in the 2000s and minted stars like Carrie Underwood, Jennifer Hudson and Kelly Clarkson will be back sometime during the next TV season. That season starts in September, but the return of "Idol" will likely come later. Fox generally premiered each new season in January.

ABC, which agreed with producers FremantleMedia North America and 19 Entertainment on the reboot, released few details, including whether longtime host Ryan Seacrest will return.

"American Idol" was television's No. 1 series for nine years, peaking with 30 million viewers an episode in 2006. By its last season the average audience had dipped to 11 million and skewed older, and NBC's "The Voice" surpassed it in popularity. Still, in today's television world, an audience of 11 million would rank it among TV's top 20 shows.

"'American Idol' is a pop-culture staple that left the air too soon," said Channing Dungey, ABC entertainment president. "ABC is the right home to re-ignite the fan base."

In "Dancing With the Stars," ABC already has a competition show that has remained popular while primarily attracting older viewers.

Harry Connick Jr., Jennifer Lopez and Keith Urban were the judges when "American Idol" went off the air. The show's iconic judges were the first: villain Simon Cowell, his sparring partner Paula Abdul and Randy Jackson.

ABC recently hired Seacrest to be co-host with Kelly Ripa on the daytime talk show "Live," so he's already in the corporate family - although "Live" is shot in New York and "Idol" is California-based. Seacrest, on the talk show Monday, said he had only learned of the revival last week when he read a news story about it and made a call.

"I said at the end of the series, 'goodbye for now,' hoping that somewhere it would come back," Seacrest said.

He played coy when Ripa encourage him to return as host.

"Whatever you want," he joked. "You're my work wife. I say 'yes' and bow to you."