Monday, October 4, 2010

Penang Turf Club land up for bids ???


Talk is that major developers like Eastern & Oriental, SP Setia, IJM Land and Mah Sing would have put in their bids to buy and develop the land.

The Penang Turf Club, owner of the single largest plot of prime land in George Town, has called for bids to buy and develop 23.09ha on the island, sources say.

The tender, called two months ago, closed on September 30 and speculation is that major developers already present in Penang, like Eastern & Oriental Bhd (3417), SP Setia Bhd, IJM Land Bhd and Mah Sing Group Bhd, would have put in their proposals.


The club has been around since 1864, making it the oldest horse racing club in Peninsular Malaysia, and owns some 104ha.

However, it is unclear if the remaining land is available for sale or slated for development.Property valuers say the price for that 23ha site could amount to between RM160 million and RM180 million.

It is understood that some 16ha are on a hill.


A valuer contacted by Business Times, who had said that the piece of hillside land in Penang could not be developed, quoted the price at between RM30 per sq ft and RM40 per sq ft.

The land below the hill has more value at about RM150 per sq ft.

Sources said that the racecourse was not part of the sale and development plans. The Penang Turf Club could not be reached for comment.


Plans for the club's redevelopment came to an end in 2008 when Chief Minister Lim Guan Eng rejected a proposal from Equine Capital Bhd associate company Abad Naluri Sdn Bhd due to its failure to submit plans as required by the state.

The land was slated for the RM25 billion Penang Global City Centre project.

Later reports quoted the club's plans to build 25 bungalows to obtain rental income to fund operations.


Members had voted for the project comprising detached and semi-detached houses, and slated for completion by end-2012.

The maximum density allowed for the area is six units per 0.45ha and the development will not interfere with the running of the club.

Wow...now this piece of land is being targeted by all the developers....

Wednesday, September 29, 2010

Chong Wei notches first success over Lin Dan as world No. 1


World No. 1 Lee Chong Wei played one of his best matches this season to prove a point and he achieved it with victory over Lin Dan of China to lift the Japan Open title in Tokyo last Sunday.

Chong Wei battled for 80 minutes – his longest match thus far this season – to carve out a 22-20, 16-21, 21-17 win against his archrival in a high-quality final to win the title for a second time after 2007.

His success prevented China from making a clean sweep of titles for a third consecutive time this season in international tournaments after the world championships in Paris last month and in the China Masters last week.


It was the first time that Chong Wei had lived up to his status as the world No. 1 in a tournament featuring Lin Dan.

And to make it even more memorable, the win yesterday took Chong Wei to equalling his previous season’s best of seven Open titles.

Chong Wei was happy to take down the three-time world champion after his failure to do so for more than a year.

“I finally nailed him after a long time. This is a big relief,” said Chong Wei in a telephone interview.

Chong Wei last defeated Lin Dan at the Swiss Open in March last year and he now has a 7-15 head-to-head- record against the Chinese superstar.

“I have put in a lot of effort by reading and analysing his game since the horrible defeat by him in the Thomas Cup Finals (in May). Today, I changed my style of play and it worked well for me,” he said.

“I will not be too wrong to say that this is the best match of the year for me. It is not easy to stay there on court for 80 minutes – giving one’s best in every rally. I am totally happy that my fitness saw me through.”

I still have the same comments, that is our Datuk Lee need to do this consistently. Anyhow, congrats to him, it's not an easy game both physically and mentally.

Alonso claims superb Singapore win...really well done !

Fernando Alonso scored his fourth win of the season in Singapore on Sunday night after a dramatic battle with Sebastian Vettel that saw them finish only two-tenths of a second apart after a race-long fight.

A slow-burn event finally exploded into life just past half distance when following a safety-car deployment after offs for BMW Sauber’s Kamui Kobayashi and HRT’s Bruno Senna, points leaders Mark Webber and Lewis Hamilton collided while fighting for third place on the 36th lap.


The Englishman was pitched out of the race with broken suspension, and the Australian brought a vibrating Red Bull home third to increase his advantage in the title fight to 202 points to Alonso’s 191, Hamilton’s 182, Sebastian Vettel’s 181 and fourth-placed Jenson Button’s 177. In the constructors’ stakes, Red Bull have 383, McLaren 359 and Ferrari 316.


It was Vettel who made the best start, but Alonso chopped across the Red Bull’s bows to take a lead he never lost. After a lap Alonso was a second ahead, but it didn’t take long for the first safety-car deployment. This came on the third lap as Vitantonio Liuzzi’s suspension-damaged Force India was cleared away from its resting place just past the chicane, its demise the result of early contact with Nick Heidfeld's BMW Sauber.


Like Ferrari’s Felipe Massa at the end of the first lap - who started from the last position on the grid - Red Bull’s Mark Webber took advantage of the hiatus to switch from the soft-compound Bridgestone tyres to the more durable hard rubber, hoping to avoid stopping again. The Australian was followed by a host of midfield runners all hoping for similar strategic fortune. By the time racing resumed on the sixth lap, Webber was already back up to 10th as he swept past Timo Glock’s Virgin.


At the front Alonso quickly regained his rhythm, holding Vettel at bay by 1.3s as Hamilton maintained third and Button began to drift back in fourth place.



Webber’s recovery took him past Schumacher when the former champion made a mistake under pressure on the 11th lap. His team mate, meanwhile, was steadily losing touch with Alonso, who had a 2.3s lead after 12 laps as Hamilton followed a similar distance behind the Red Bull.


However, the Australian’s strategy came unravelled when he was unable to overtake Rubens Barrichello’s Williams, and from 16.5s his deficit to Alonso had grown to 30s after 16 laps. Over the radio, his team told him that he was now racing Hamilton for third place, rather than for the lead.


McLaren’s hopes of victory evaporated with serious rear tyre wear, leaving Hamilton and Button to lonely races until the mid-race incident.



After that the fight for the lead was back on, as Vettel hounded Alonso mercilessly, less than a second behind. The German looked very aggressive on the harder-compound tyres and soon closed Alonso down, but as the race just completed its 61 laps before the two-hour mark, the Spaniard kept the German at bay.


They raced past Heikki Kovalainen’s burning Lotus on the pit straight as they completed their penultimate lap, and were only two-tenths of a second apart. But, as Alonso won his fourth race of the year to move into second place in the title hunt, the gap was the same.


Webber was a relieved third from Button, while Nico Rosberg drove an unobtrusive race to fifth for Mercedes ahead of on-form Rubens Barrichello for Williams and Renault’s Robert Kubica, who drove superbly to repass the Toro Rossos of Jaime Alguersuari and Sebastien Buemi, team mate Vitaly Petrov, Massa, Williams’ Nico Hulkenberg and Force India’s Adrian Sutil after a Lap 45 stop for another set of tyres.



The aforementioned finished in the reverse of the above order after running nose-to-tail for much of the race, and Kovalainen’s late departure with a blown engine and ensuing fire elevated Lucas Di Grassi to 15th as the highest-placed new team runner. He was the only one still standing, as Kovalainen was classified 16th.


Virgin’s Timo Glock had led that category until late retirement, while Lotus’s Jarno Trulli and HRT’s Christian Klien were stopped by mechanical problems and Senna hit Kobayashi’s damaged BMW Sauber, the Japanese driver having run into the wall of his own accord at Turn 18.


Mercedes GP’s Michael Schumacher was classified 13th after a hard day in which he was attacked and pushed into a wall by Kobayashi just before the Japanese driver’s incident, and then had one of his own as he shoved Nick Heidfeld’s BMW Sauber into a spin and also spun himself.


Wow...4 more races to go....the drivers championship getting hotter and hotter !!!

Thursday, September 23, 2010

AS1M declares dividend of 6.38 sen....Congrats to all the investors !


Permodalan Nasional Bhd (PNB) today announced a maiden income distribution of 6.38 sen per unit for Amanah Saham 1Malaysia (AS 1Malaysia) for the financial year ending Sept 30, 2010.

"This translates into a payout of RM204.67 million and will benefit 259,162 unitholders who collectively own 4.02 billion units of AS 1Malaysia," PNB Chairman Tun Ahmad Sarji Abdul Hamid said.

Ahmad Sarji said until Sept 21, 2010 the fund recorded a gross income of RM294.05 million.


Profit from the sale of shares contributed RM165.47 or 56.3 per cent, dividend income from investee companies contributed RM99.8 million or 33.9 per cent, while RM28.79 million or 9.8 per cent was derived from investment in short-term instruments and other income.

He said the income distribution calculation this year will be based on the average monthly minimum balance held throughout the financial year from August 5, 2009 until Sept 30, 2010.

Commenting on the performance of the fund, President and Chief Executive Officer Tan Sri Hamad Kama Piah Che Othman said AS 1Malaysia has been well received by Malaysians since its inception.


The fund, launched in July 2009, offered 10 billion units for subscription at a fixed price of RM1 per unit.

Half of the fund was allocated for Bumiputeras, 30 per cent to the Chinese community, 15 per cent to Indians and five per cent to others.

So far, 100 per cent of the quota given to the Chinese community has been subscribed while the units for Bumiputeras and Indians have remained largely unsubscribed.


"While it has taken time, we are now beginning to see growing interest from the Bumiputeras," he told a media briefing today.

On a monthly average, some RM30 million worth of units are sold to Bumiputeras, he added.--BERNAMA

Aiya...I missed the boat...boat to good and secured investment...haizzz...

Penang To Impose Water Conservation Surcharge....WOW !


The Penang government is to introduce a Water Conservation Surcharge (WCS) on Nov 1 as part of the effort to encourage wise water usage and curb water wastage.

Chief Minister Lim Guan Eng said Wednesday the state executive council had agreed that the rate of the WCS was 24 sen per cubic metre for water consumed over and above the allowance of 35 cubic metres (35,000 litres) per month.

"This allowance of 35 cubic metres will help reduce our daily water consumption from 286 litres per day per person to 233 litres," he told reporters after chairing the meeting of the council, here.


He said the rate would be effective for consumption from Nov 1 and would be reflected in the consumers' bill from Jan 1.

"Only those who use too much water will pay more for their water supply. If your household usage is reasonable, this surcharge will not affect you," he said.

Lim, who is also the chairman of Perbadanan Bekalan Air Pulau Pinang (PBAPP), said about 70 per cent of domestic consumers in the state would not be affected by the implementation of the WCS.


"We believe only 30 per cent of domestic consumers have been identified as wasting water in excess of our targeted monthly allowance of 35 cubic metres," he said.

He said among the objectives of WCS were to encourage Penangites to stop wasting water, ensure people did not waste water and promote a water-saving culture.

He also said that Penang's water tariffs were amongst the lowest in Malaysia and Asean, and were last reviewed nine years ago.



"Since then, the cost of supplying water in Penang had increased by 64 per cent in tandem with increases in the costs of energy, fuel, chemicals and maintenance," he said.

Currently, Penangites get water for about RM0.22 per litre, which was subsidised by the state government.In 2009, a total of 395,388 domestic consumers enjoyed water subsidy that cost PBAPP about RM41 million.

I think this move is long overdue. I'm seeing people here and there wasting water much more than they really use. Bravo Penang government ! Better late than never :)

Wednesday, September 22, 2010

League Cup 2010: Tot 1 - 4 Arsenal (after extra time)


Superb performance !!! Well done Gunners even though without their manager Arsene Wenger in the dugout. Let's hope last Sat's dissapointment of dropping 2 points in the league at Sunderland will just be a blip and they will return to their winning runs again... :)

Henri Lansbury scoring his first goal for the club 15 minutes into his full debut, and then 2 penalties from Samir Nasri before a super finish from Arshavin during the extra time underline Arsenal's possesion and dominance in this match...as usual, Wilshere was a live-wire at the center midfield position again.

Overall, tonight's first starting eleven was a mixed of both talented youngsters with some experiences regulars. Too bad Gibbs was taken off on the 102nd minute with a suspected metatarsal problem. Frankly, if Arsenal were to challenge on all fronts or even if only focusing on the Champions League or the league, injuries have to cut down as at this moment, there were just too many first team players in the treatment room :(

Tuesday, September 21, 2010

Stoner finally takes first win of the season @ Spanish MotoGP 2010


Casey Stoner took his first victory of the 2010 campaign at Aragón on Sunday, converting his pole position at the Spanish circuit into a well-deserved win. The Ducati Team rider finished 5.148s ahead of Dani Pedrosa, with Nicky Hayden completing the podium for his first top-three result of the year after a magnificent last-lap overtake on Jorge Lorenzo.


Starting from pole Stoner held his position going into the first turn, but usual rapid starter Pedrosa dropped to fifth as the riders bunched up in the tight opening curve. The Repsol Honda rider fought back in the early stages of the race however to climb to second behind Stoner, and the gap between the two fluctuated throughout.


The pair were consistently fast for the duration of the race but Stoner managed to pull away towards the end as he achieved what was eventually a comfortable 25 points, with Pedrosa maintaining his good form in second.

There were battles all the way through the field and none more entertaining than that between Hayden and Championship leader Lorenzo for the final podium spot. A fearless overtake on Lorenzo by Hayden on the final lap delivered the American the honours, and ended the Fiat Yamaha rider’s record of having placed on the rostrum at every race so far this season.


Ben Spies (Monster Yamaha Tech 3) notched another impressive result with fifth place as he resisted the challenge of Andrea Dovizioso (Repsol Honda), who crashed out on the final lap whilst pushing hard in their contest.

Valentino Rossi (Fiat Yamaha) rounded off a tough weekend in sixth place, whilst rookies Marco Simoncelli (San Carlo Honda Gresini) and Álvaro Bautista (Rizla Suzuki) completed the top eight with solid displays. Marco Melandri (San Carlo Honda Gresini) and Aleix Espargaró (Pramac Racing) took top-ten finishes, whilst Randy de Puniet (LCR Honda) escaped injury when he crashed out on lap 16.


Lorenzo’s advantage at the top of the Championship was cut to 56 points and he now stands on 284 points, with Pedrosa on 228 in second. Stoner’s victory lifts him to third on 155, with Rossi staying fourth and Dovizioso dropping to fifth.

Hmm...Rossi seems very much like losing interest in this year's championship given the fact that he's not likely to challenge for it :)