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SapuraKencana buys 38pc of Quippo Prakash Posted: 04 Oct 2012 06:59 PM PDT NEW DELHI: Oil and gas firm, SapuraKencana Petroleum Bhd, has acquired 38 per cent stake in derrick lay barge, Quippo Prakash from Indian company, Quippo Oil and Gas Infrastructure Ltd (QOGIL), for US$122 million (RM373 million). QOGIL is a unit of Kolkata-based Srei Infrastructure Finance Ltd. "The vessel was sold at an enterprise value of US$122 million. Srei had a 38 per cent stake in Quippo Prakash through QOGIL," said Srei in a statement. Having invested when the market has bottomed out, QOGIL took advantage of the present buoyant conditions to exit its investment, Srei's Vice-Chairman Sunil Kanoria said. He said Srei has been creating a portfolio of strategic investments over the past years and as and when there is an opportunity of encashing with a good return, it does so. QOGIL, primarily in the business of owning and operating onshore drilling rigs, also held a substantial equity stake in the Quippo Prakash, it said. The investment in the barge was made in 2008 at a time when the downturn in the offshore markets allowed QOGIL to negotiate favourable terms from shipyards. Outfitted in Singapore and commissioned in 2010, the state-of-art offshore construction support barge, upon delivery was placed on term charter with a major offshore contractor in South East Asia, generating positive returns and cashflows immediately. Equipped with a 2000MT crane, the barge was designed to provide offshore construction support and underwater pipe-lay capability. "With increasing levels of activity in the subsea construction market, the vessel had generated considerable interest amongst major offshore contractors," added Srei.-- BERNAMA

Genting HK applies to up stake in Echo Posted: 04 Oct 2012 06:42 PM PDT Genting Hong Kong Ltd, the cruise ship company controlled by Lim Kok Thay, has applied to lift its stake in Echo Entertainment Group Ltd to 25 percent amid a fight with billionaire James Packer over Sydney's only casino. Genting Hong Kong, with a 4.2 percent stake in Echo, has applied to the New South Wales Liquor and Gaming Authority to increase its share and the regulator is investigating the plan along with its counterpart in neighboring Queensland state, the agency said in a statement on its website. Crown Ltd, the casino company controlled by James Packer, has also applied to increase its stake in the Sydney-based company to 25 percent. Crown has a 7.7 percent stake in the company, according to data compiled by Bloomberg. -- Bloomberg

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Presidential debate sets record on Twitter - USA TODAY Posted: 04 Oct 2012 08:38 AM PDT President Obama and Mitt Romney share a friendly exchange before their first debate in Denver. (Photo: Nicholas Kamm, AFP/Getty Images) Tags 12:02PM EST October 4. 2012 - DENVER -- President Obama and Mitt Romney were a huge sensation on Twitter Wednesday night, generating a record 10.3 million tweets over the course of their 90-minute debate. It was the most tweeted event in political history, Twitter says, and exceeded the activity on the social media site during the political conventions. The high point, however, didn't belong to either candidate vying for the White House. MORE: Romney's Big Bird comment lights up Twitter Moderator Jim Lehrer's quip "let's not" to Romney, who asked to move on to a different debate topic, generated a whopping 158,690 tweets per minute (TPM) at its peak. Lehrer's handling of the questioning and pacing of the debate opened the veteran journalist to criticism and sparked a parody Twitter account. Other comments that sent debate-watchers to Twitter: Obama's retort "I had 5 seconds" when protesting he still had time on the clock generated more than 152,000 TPM at its peak. As for substantive issues, the discussion about Medicare came in third with nearly 150,000 tweets per minute. Twitter's government and politics team produced a nifty graphic showing the highs and lows of activity on the social media site. Catalina Camia On Politics curator Catalina Camia is equal parts political junkie and baseball fan. She's written about campaigns and Congress, worked in Texas and D.C., and said goodbye to editing for this gig. Send Catalina Camia a Message { "assetid": "1612689", "aws": "news/politics/features_onpolitics", "aws_id": "news_politics_features_onpolitics", "blogname": "On Politics", "contenttype": "blogs ", "pagename": "Presidential debate sets record on Twitter", "seotitle": "Obama-romney-twitter-debate-denver", "seotitletag": "Presidential debate sets record on Twitter", "ssts": "news/politics/onpolitics", "taxonomykeywords":"Online media,Presidential elections,Jim Lehrer,News media,Election 2012,Political conventions,Barack Obama,Denver,Mitt Romney", "templatename": "stories/default", "topic":"online-mediapresidential-electionsjim-lehrernews-mediaelection-2012political-conventionsbarack-obamadenvermitt-romney", "videoincluded":"yes", "basePageType":"story" }

Turkey-Syria border tension - live updates - The Guardian Posted: 04 Oct 2012 09:11 AM PDT In Aleppo, displaced people are everywhere – many of them blaming the FSA for their plight. There is little paid work, savings are drying up and even a lawyer can find himself reduced to selling loaves of bread on the street. Our colleague Mona Mahmood has been talking via Skype to Salema Mustafa, a teacher who lives in the government-controlled Nile Street area of the city. People who live in liberated areas of Aleppo can no longer can work there owing to the bombardment by the Syrian army. Many started coming to the unliberated areas to work because they are safer, like our district. [Street] vendors are everywhere here. People in the liberated areas who are living in schools as refugees have no work except as vendors in the street. I used to be a teacher but no longer – the schools are occupied by refugees. We are running courses in psychological support for the refugees. I'm trying to help these people to learn some skills to help them deal with the current crisis. These refugees are upset with the FSA. They believe they would not be subjected to shelling or have leave their homes if the FSA had not liberated their areas. I'm trying to help them to be positive and think of the real cause of the problem – but indirectly. In the beginning there was widespread resentment towards the FSA, but now they have begun to change their opinion – especially since the Syrian army started to target bakeries and mosques. People of Aleppo who in the liberated areas were not prepared for the revolution and are mostly uneducated – they are unaware of their rights. They think only of how to earn their living, not how to change the president. We are launching literacy courses for the refugees and help them to understand the political situation. We offer the refugees food, beds, blankets and clothes. Medical help also is offered – they have many cases of jaundice. We have 150 schools filled with refugees, each one has no less than 500 refugees and our help is reaching more than 30 schools in Aleppo. We started only three weeks ago. We have great problems with the refugees living in the university city – small rooms packed with people. As far as I know only three governmental schools are open in addition to few private ones. We are not sending our kids to schools and teachers do not dare [to risk] all these checkpoints to get to the schools. People are living out of their savings but they are now reaching the end. My friend is a lawyer, he has no work at all. Now he is queueing at bakeries and collecting bread to sell to people in the streets. Transport fares are three times more than before. If you are not suspected and your name is not with the Syrian army, you can get out of the city. But also we have the problem of gangs who will stop you, claim they are FSA and steal all your belongings. Travelling is a great risk. The FSA is also short of food and resources, so they take what they get here. People are upset about these practices, but in the end we need to get rid of the regime. A brigade from Azaz is kidnapping businessmen from Aleppo to take money for their release. My relatives and friends in Salaheddine district told me that they have seen Arab fighters there. They are good fighters but they are hardline Muslims. If they see someone smoking they point their gun at him. If they detain a man, they ask him: "How many pages of the Holy Quran did you memorise?" I do not know if they are all like this or not.

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