viagra receptfritt på apoteket 1. Shin Yang sues client for defaulting on vessel payment
Shin Yang Shipping Corp Bhd is suing an Indonesian client, PT Gemilang Raya Maritime, for failing to pay up RM6 million for four vessels it bought from the shipbuilder.
In a Bursa Malaysia filing today, Shin Yang said its wholly-owned unit Shin Yang Shipping Sdn Bhd has filed its claim against the firm on Sept 13 at the North Jakarta District Court in Central Jakarta.
Shin Yang said it sold and delivered four vessels last October to PT Gemilang Raya, but the latter has yet to make payment for the vessels, despite two demand letters sent in March and April this year seeking for the payment.
The sum owed is for the purchase of one Tugboat Danum 89 priced at RM1.9 million, one Tugboat Danum 95, also priced at RM1.9 million, and one Barge Ship Linau 51 and Barge Ship Linau 52, priced at RM1.1 million each.
Shin Yang believes it has “good ground to the above claim” and will take action to secure it.
Shin Yang shares closed unchanged at 24.5 sen yesterday, giving it a market capitalisation of RM294 million.
köpa cialis utomlands 2. Affin Holdings gets BNM green light to up stake in AXA Affin
Affin Holdings Bhd said it has secured the approval of Bank Negara Malaysia to acquire a 7.07% stake in AXA Affin General Insurance Bhd from Felda Marketing Services Sdn Bhd.
According to Affin Holdings’s Bursa Malaysia filing, the proposed acquisition will raise Affin Holdings’ stake in AXA Affin, held via its commercial unit Affin Bank Bhd, from 37.07% to 44.14%.
The financial services provider announced on Aug 4 that it would seek the central bank’s approval for the proposed acquisition of 8.4 million shares in Axa Affin from Felda Marketing Services for RM99.09 million, cash.
As of closing, Affin Holdings shares were unchanged at RM2.65, after some 114,900 shares were traded, giving it a market capitalization of RM5.15 billion.
flagyl cost walmart 3. Matrix Concepts to boost student enrolment at international school with Chinese collaboration
Matrix Concepts Holdings Bhd is partnering a local firm affiliated with a Chiense education group in Hebei, China, to boost the enrolment of Chinese students at its Negeri Sembilan international school.
It said in a Bursa Malaysia filing that its wholly-owned unit Matrix Global Education Sdn Bhd (MGE) inked an education joint collaboration agreement with Hengshui Yizhong Education Group Sdn Bhd yesterday.
Hengshui Yizhong is affiliated with Hengshui No 1 High School (HHS) in Hebei, China, and is licensed to provide high school learning facilities in Malaysia, in compliance with the system of education in China.
HHS is a well-known higher learning education group which has 52 branches around China with over 300,000 registered students and is a much sought-after school in China, said Matrix Concepts.
Under the deal, the parties agreed for Hengshui Yizhong to enroll at least 600 students into MGE’s Matrix International School (MIS) over three years, starting from 2018.
In return, MGE agreed to provide Hengshui Yizhong and its teachers and management staff meals and accommodation during the agreement period, “inclusive of education/teaching place, teaching facilities including laboratory, library, sport facilities and places for sport activities, teaching materials, and related information, school uniform including meals and boarding for the students enrolled
by Hengshui Yizhong, subject to charges mutually agreed upon by the parties”.
Besides the international school, MGE also operates the Matrix Private School, and Matrix International Pre-School, collectively known as Matrix Global Schools (MGS), all of which are located in Bandar Sri Sendayan, Negeri Sembilan.
“MGS was built with a vision of providing not only a global education, but also to nurture its students to have a global outlook as they prepare for the borderless world. Through this collaboration with HYE, overall education in MGS would be truly an international one as its students will now be able to expose themselves to cross cultural experience which will greatly benefit MGS’s students.
“In addition, the influx of the students enrolled by HYE, together with the existing foreign students of MIS, is expected to boost the economic activities in Bandar Sri Sendayan, which in turn, will enhance further growth to the township,” the filing read.
Matrix Concepts said the agreement will not have any material impact on its earnings for the financial year ending March 31, 2018, but should enhance the earnings of MGE for the subsequent financial years.
At the closing bell today, Matrix Concepts finished one sen or 0.36% higher at RM2.80, for a market capitalisation of RM1.65 billion.
kosten nexium 20 1. Obama goes from White House to Wall Street in less than one year
Hillary Clinton says she made a mistake when she gave speeches on Wall Street after leaving government. Taking money from banks, she writes in her new memoir, created the impression she was in their pocket.
Her old boss doesn’t seem to share her concern.
Last month, just before her book “What Happened” was published, Barack Obama spoke in New York to clients of Northern Trust Corp for about US$400,000, a person familiar with his appearance said. Last week, he reminisced about the White House for Carlyle Group LP, one of the world’s biggest private equity firms, according to two people who were there. Next week, he’ll give a keynote speech at investment bank Cantor Fitzgerald LP’s health-care conference.
Obama is coming to Wall Street less than a year after leaving the White House, following a path that’s well trod and well paid. While he can’t run for president, he continues to be an influential voice in a party torn between celebrating and vilifying corporate power. His new work with banks might suggest which side of the debate he’ll be on and disappoint anyone expecting him to avoid a trap that snared Clinton. Or, as some of his executive friends see it, he’s just a private citizen giving a few paid speeches to other successful people while writing his next book.
“He was the president of the entire United States — financial services are under that umbrella,” said former UBS Group AG executive Robert Wolf, an early supporter who joined the Obama Foundation board this year. “He doesn’t look at Wall Street like, ‘Oh, these are individuals who don’t want the best for the country.’ He doesn’t stereotype.”
Since leaving office, Obama has delivered public and private speeches that are “true to his values,” Kevin Lewis, a spokesman for the former president, said in an email. “His paid speeches in part have allowed President Obama to contribute US$2 million to Chicago programs offering job training and employment opportunities to low-income youth.”
Obama’s relationship with Wall Street hasn’t always been good. Bankers still boil over with rage about him, wincing over his 2009 line about fat cats as if the wounds were fresh. But his Justice Department prosecuted no major bankers for their roles in the financial crisis, and he resisted calls to break up the biggest banks, signing a regulatory overhaul that annoyed them with new rules but didn’t stop them from pulling in record profits.
The brokerage and investment bank Cantor Fitzgerald isn’t one of those giants. S&P Global Ratings announced this year that the New York-based firm’s debt grades could be cut to junk. Cantor’s investment banking division is run by health-care specialist Sage Kelly, who left Jefferies Group after divorce-case accusations became salacious tabloid fodder in 2014. His ex-wife later apologized for the storm caused by the claims, which he had denied.
Cantor Chief Executive Officer Howard Lutnick, whose firm lost more than 600 people in the Sept. 11 attacks, said the former president will make remarks and take questions. The three-day conference for current and prospective clients begins Sept. 25. Obama will be paid about US$400,000, according to a person familiar with the arrangement.
“Everybody would like to come,” Lutnick said. “Hopefully, we will really talk about the Affordable Care Act in interesting and nuanced ways, which I think is really cool.”
Obama’s appearance at the Carlyle conference in Washington was previously unreported. The private equity giant has enjoyed some of the best political connections in the world, with executives and advisers who have included former presidents, prime ministers and cabinet secretaries. Obama discussed his life and the decisions he made in the White House, the people who heard him said. A spokesman for the firm wouldn’t comment.
The ex-president has been busy. His foundation is raising money for a library in Chicago, and he and his wife signed a book deal with Penguin Random House after an auction that went above $60 million, according to the Financial Times. He spoke about food in Milan, democracy in Jakarta and himself at an A&E Television Networks event in New York. He vacationed in California and Hawaii and on Richard Branson’s Necker Island with its billionaire owner.
Obama has picked private equity, hedge fund, venture capital and banking veterans to oversee his foundation, and an alumnus of Goldman Sachs Group Inc to advise him on investments.
Northern Trust is a bank that specializes in wealth management for rich families and services for big funds. The event had gone unreported, but a program accessible on the firm’s website lists Obama alongside executives from Microsoft Corp, IBM and Michael Bloomberg, majority owner of Bloomberg LP.
Northern Trust, based in Chicago, gave Obama a discount on a US$1.32 million loan for a mansion in that city in 2005, after he was elected to the Senate, the Washington Post reported. The rate was changed to account for an offer from another lender, a spokesman for Obama said three years later. Doug Holt, a spokesman for Northern Trust, wouldn’t comment for this story.
Obama is getting advice on investments from Robbie Robinson, who’s on leave from BDT & Co, according to a person familiar with the arrangement. That Chicago-based firm works with wealthy families and is run by Byron Trott. Both bankers worked for Goldman Sachs.
Obama has known executives there for more than a decade. He spoke at the 2006 Goldman Sachs partners’ meeting in Chicago. Then a senator, he appeared between Hank Paulson and Warren Buffett in the Fairmont hotel’s Imperial Ballroom, an event program shows.
Both Bernie Sanders and Donald Trump blasted Clinton for her lucrative Goldman Sachs speeches, and the issue is still raw. Sanders and fellow Senator Elizabeth Warren have tried to pry the Democratic Party away from its coziness with Wall Street. If Obama is hoping the party will be a big tent with room for corporate giants, they may stand in his way.
Obama’s donor friends tend to mention the same reason when they defend his Wall Street speeches, saying he’s no longer president and not running for office. Morgan Stanley Vice Chairman Tom Nides is one of them.
“I love Barack Obama, and if someone is willing to pay him to give a speech, God bless America,” said Nides, a deputy secretary of state under Clinton in Obama’s administration.
But Jeff Hauser, who studies political corruption as head of the Revolving Door Project in Washington, said Obama should play by the same rules as other politicians because of his ongoing work with the Democratic Party.
“He’s continuing to exercise the authority,” Hauser said, citing Obama’s support for the party’s redistricting committee and the push he gave Tom Perez in the race to head the Democratic National Committee. If he wants to play a role, “he ought to forgo a few hundred thousand here and maybe a half-million there.”
Few leaders have left the top of the US government recently and resisted the lure of corporate money. Former Vice President Al Gore is a director at Apple Inc and a senior partner at Kleiner Perkins Caufield & Byers, the venture capital firm whose chairman, John Doerr, is on the Obama Foundation’s board. Dan Quayle, another ex-vice president, has spent almost two decades with private equity firm Cerberus Capital Management LP. Trump’s White House has lost officials so quickly that Sean Spicer has already made arrangements to speak to a financial firm this year.
“Not everyone’s going to be a Jimmy Carter, who does purely good works after he gets out,” said Sean Coffey, a Democratic donor who chairs the complex litigation group at corporate law firm Kramer Levin Naftalis & Frankel LLP. Obama is used to being criticized, the attorney added. “I don’t think getting any grief for doing this is going to bother him at all.”
buy domperidone online canada 2. UBS Wealth has good things to say about EM, but not South Africa
Michael Bolliger, who oversees more than US$2 trillion for clients as the head of emerging-market asset allocation at UBS Wealth Management, is underweight on South Africa credit, rand, stocks but bullish on Russia, Turkey and Egypt, which is a “great story”.
There’s one emerging market country that Bolliger can’t get bullish about at the moment: South Africa.
President Jacob Zuma is fighting to stay out of court before the African National Congress votes for a new leader in December. He’s pushing for his ex-wife to succeed him, but most analysts in a Bloomberg survey think the nation’s Deputy President Cyril Ramaphosa probably will. It’s more noise for a market that has already paid a price for political wrangling when it lost two of its investment ratings in April.
“Political decisions typically don’t play a major role in our investment decisions, but in South Africa’s case, it’s an exception due to the very binary nature of the outcome,” Bolliger said in an interview in Bloomberg’s office in Dubai.
The rand, which was one of the world’s best performing currencies for most of the first quarter, isn’t among emerging nations’ top 10 gainers this year.
Aside from South Africa, Bolliger is bullish on developing equities, even after companies handed investors gains of about 20 percent in the second quarter of 2017 on a yearly basis, compared to about 12 percent for those based in the US. The MSCI Emerging Markets Index has advanced almost 30 percent in 2017, the biggest year-to-date advance since 2009.
* He’s underweight on credit, the rand and equities.
* “The political situation is going to weigh on growth and growth prospects”
* “The ANC congress in December is going to be absolutely crucial. And moving into that, we might cut back some of our underweights. Political decisions typically don’t play a major role in our investment decisions, but in this case, it is an exception, due to the very binary nature of the outcome”
* “In a scenario in which Cyril Ramaphosa or another market-friendly leader wins and comes out as the new ANC leader, the rand could easily rally to 12.50 (per US dollar) or even below, and the equity market could go through the roof”
* Rand rises 0.4 percent at 10:22 a.m. in Johannesburg to 13.2059 per dollar
* Bolliger is overweight the ruble and equities, which are pay attractive dividend yields and trade at decent valuations compared to many emerging markets
* “We like the Russian equity market because we believe the economy has finally turned the corner”
* “We are also mindful that there are going to be elections next March, and we believe it’s in the interest of President Vladimir Putin to assure economic momentum remains intact ahead of the election”
* Bolliger is long on the lira and equities, as the country is seen as a story of economic growth.
* “We think the Turkish economy can sustainably grow at a rate of 4.5%/5%. There are not so many countries in EMEA which can deliver similarly high growth”
* Bolliger expects the Gulf state to be added to MSCI Inc’s emerging markets list next year, with effective inclusion in 2019
* “That is going help investors understand the region better. There is going to be more intelligence, more research done because of that inclusion. We see it as a great opportunity for the entire region”
* “But, at the same time, it means policy makers are under a closer monitoring from international investors, which can also result in higher financial market volatility”
* Overweight in credit, macro-picture seen as “a great story”
* “Growth potential is high. The country has done several necessary adjustments, including its foreign exchange, and it presented a good economic program”
* “There are some open issues, still, including access to electricity, red tape and a full free float of the currency”
viagra apoteket dk 3. China PBOC to draft package for financial market opening, sources say
China’s central bank is drafting a package of reforms which would give foreign investors greater access to the nation’s financial services industry, according to people familiar with the matter.
The People’s Bank of China will convene an internal meeting on Tuesday to discuss its proposals and get feedback from Chinese institutions, said the people, who asked not to be identified as the matter is private. The meeting will also discuss the timetable for opening up the financial sector and the lessons learned from previous cooperation with foreign firms, the people added.
While the details of the plan have yet to be finalized, it may include permission for foreign institutions to control their local finance-sector joint ventures, as well as raising the current 25 percent ceiling on foreign ownership in Chinese banks, the people said. It may also allow foreign firms to provide yuan-denominated bank card clearing services, one of the people said. The China Banking Regulatory Commission is also involved in the proposal, the person added
The PBOC couldn’t immediately comment on the matter. The CBRC didn’t immediately respond to a fax seeking comment.
China sent a signal it plans to press ahead with opening up the financial sector when central bank Governor Zhou Xiaochuan said in June that too much protection for domestic institutions weakens the industry and can lead to financial instability. Last month, China’s cabinet said the country will continue to open up various industries, including banking, securities, insurance as well as electric cars.
Currently, overseas investment banks can only hold minority stakes in their local securities joint ventures, and have been largely excluded from lucrative businesses such as secondary-market trading in Chinese debt and equities, as well as from managing money for wealthy clients.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, who last year decided to exit a minority-owned Chinese investment-banking joint venture, said in June that the US bank is patiently negotiating with Chinese regulators to find a new structure that would eventually allow full control.
China will open up its insurance market further, mainly by encouraging foreign insurers already operating locally to enter the health, pension and catastrophe insurance sectors, China Insurance Regulatory Commission Vice Chairman Chen Wenhui said earlier this month.
Chinese regulators last year decided to open up the nation’s fund market, allowing investment firms in China to be 100 percent owned by foreign managers. At least a dozen global money managers such as Man Group Plc, Bridgewater Associates and Fidelity International have announced plans since then to start private securities funds. Before the rule change, foreign firms were restricted from running such private funds in China but could take stakes in mutual fund companies and provide advice to onshore funds.