Selasa, 25 September 2012

NST Online Business Times : latest

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Felda Global gets 'market perform' call

Posted: 25 Sep 2012 06:41 PM PDT

RHB Research initiated coverage of Felda Global Ventures Holdings Bhd with a "market perform" rating and target price of RM5, a small premium to the stock's last closing price of RM4.88.

"We initiate coverage on Felda with this recommendation due to its relatively sober earnings growth and our downward projections for crude palm oil (CPO) prices, and similarly unexciting valuations," RHB Research said on Wednesday.

RHB projects a three-year compound annual growth rate (CAGR) of 4.9 percent for Felda. It expects 1.3 percent growth for the current year and 6.4 percent to 7.1 percent for the next two years. It adds that Felda's disposal of non-core and non-performing assets, which are weighing earnings down, may be the catalyst for a rerating.

Felda has been on a downward trend since its debut on the local bourse late July, last closing 10 percent lower than its initial offer price. The company's US$3.1 billion initial public offering was the biggest in Asia this year.

Felda shares were trading 0.21 percent lower at RM4.83. -- REUTERS

Ho Wah surges on RM800m contracts

Posted: 25 Sep 2012 07:18 PM PDT

Shares in Ho Wah Genting Bhd climbed as much as 4.64 percent to RM0.34 on Wednesday after one of its units won RM800 million (US$260.50 million) contracts from two Japanese firms.

Ho Wah said on Tuesday MyLed Opto Tech Sdn Bhd, a light emitting diode (LED) maker in which it owns 51 percent, secured the contracts from Japan's Kirutorisu Tech and Atotis Co Ltd, marking the company's venture into the Japanese vending machine market. -- Reuters

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Obama Defends Mideast Policy at UN - Wall Street Journal

Posted: 25 Sep 2012 09:12 AM PDT

UNITED NATIONS—President Barack Obama, in an address to the annual meeting of the United Nations General Assembly, confronted a series of foreign-policy concerns that have become central in a U.S. presidential campaign that has been largely focused on the economy.

Mr. Obama, under pressure from his Republican opponent in the November election, defended his handling of the political uprisings sweeping the Middle East and stressed that his administration would continue to support the push for democracy in the Arab world, regardless of short-term challenges.

"Even as there will be huge challenges that come with a transition to democracy, I am ...

NFL: League facing fury over referees' "Hail Mary" call - Reuters

Posted: 25 Sep 2012 08:55 AM PDT

Seattle Seahawks wide receiver Golden Tate (bottom, obscured) catches the 14-12, game-winning touchdown in the endzone while he is swarmed by Green Bay Packers' Jarrett Bush (24) and Tramon Williams (38) during the final eight seconds of the fourth quarter of their Monday night NFL football game at Centurylink Field in Seattle, Washington, September 24, 2012. REUTERS/Anthony Bolante

Tue Sep 25, 2012 12:07pm EDT

(Reuters) - NFL fans took to the airwaves, social media and the streets on Tuesday to vent their anger over a controversial refereeing decision which handed the Seattle Seahawks victory over the Green Bay Packers.

The NFL is using replacement referees from the lower ranks of college and semi-professional football during a lockout of regular officials caused by a dispute over a new contract.

While the replacements have been criticized throughout the first three weeks of the season for perceived indecisive and confusing calls, unprecedented levels of frustration spilled over after Monday's prime time game.

Trailing 12-7 with seconds left on the clock, the Seahawks were facing a fourth down on the Packers' 24-yard line and rookie quarterback Russell Wilson heaved a 'Hail Mary' pass into the end zone.

Seahawks receiver Golden Tate pushed off on Packers cornerback Sam Shields with what looked a clear case of offensive pass interference before he rose to attempt to challenge Green Bay's M.D. Jennings.

Jennings appeared to have caught and gained control of the ball before Tate's hands made contact with it but as they fell to the ground the two referees close by made differing calls - one ruled a touchdown and the other an interception.

The ruling on the field was touchdown by simultaneous catch and was upheld after being sent up for video review - with some confusion about whether the NFL's byzantine rules allow for a review of a 'simultaneous' catch.

The Packers players fired off protests on Twitter with wide receiver Greg Jennings tweeting: "NFL C'mon Man! Can't even be upset anymore. All I can do is laugh. Laugh at the NFL for allowing America's game to come (to) this".

Other players used stronger language to express their feelings while fans flooded sports radio stations to protest and the media in Wisconsin backed their view.

"Grand Larceny" declared the Oshkosh Northwestern while even the Seattle Times hinted at some sympathy with their rivals, their front page headline stating "Hawks steal one".

On Tuesday some Packers fans gathered outside Lambeau Field to protest while passing drivers hooted in support of placards declaring "We Were Robbed" and "Speechless in Seattle".

"We're trying to get the (original) refs back. With the refs that we have now, they're not qualified to do the job like the other refs are. They're high school and college officials," one of the protesters, Seth Wagnitz, told the Green Bay Press Gazette.

"We really need the refs back because now it has cost us a game and that shouldn't be happening," he added.

STATEMENT DUE

Politicians were also quick to join the outrage.

New Jersey state Senate President Stephen Sweeney said in a statement that he plans to introduce legislation prohibiting the playing of professional sporting events with replacement officials.

"This past weekend in the NFL has not only made a mockery of a great sport, but shined a very bright light on how important fully trained and professional officiating is to player safety," said Sweeney.

"We wouldn't allow a factory or construction site to operate without fully trained supervisors on hand to ensure the safety of employees. Why should we do anything differently when the job site is a playing field?"

NFL commissioner Roger Goodell's office telephone number was circulated on Twitter by a Wisconsin State Senator Jon Erpenbach who urged fans to "leave a message".

Wisconsin Republican Governor Scott Walker called via Twitter for the locked-out referees to be brought back.

However, it is by no means only Packers fans who have raised criticism of the NFL for allowing under-qualified officials to take charge of games.

From LeBron James and Dirk Nowitzki of the NBA to actor Samuel L.Jackson, social media sites were full of opinion, most of it highly critical of the referees and the NFL for allowing them to be in charge.

NFL.com reported the NFL will make a statement on the incident later on Tuesday.

(Editing by Mark Meadows)

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