Isnin, 5 November 2012

NST Online Business Times : latest

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NST Online Business Times : latest


SapuraKencana up on deal with Seadrill

Posted: 05 Nov 2012 06:19 PM PST

SapuraKencana Petroleum Bhd rose as much as 7.75 percent after the Malaysian oil and gas services firm said on Monday it is acquiring 100 percent of Seadrill's tender rig business in a US$2.9 billion deal.

"While SapuraKencana has not finalised the funding structure for the deal, we believe that the proposed integration will create value for its shareholders," HwangDBS Vickers Research said in a note on Tuesday.

Assuming 66 percent debt to fund the deal, the transaction would significantly add to earnings (excluding potential advisory fees) with 39-34 percent upside to HwangDBS' earnings per share forecast on SapuraKencana for the financial year ending Jan. 31, 2014 (FY2014)-FY2015 given the superior profit margin for Seadrill's tender rig business.

The research house maintained its "buy" rating on the counter with a target price of RM3.00 per share.

Shares of SapuraKencana were up 7.38 percent at RM2.91 by 10.14am, outperforming the benchmark index's 0.32 percent drop. -- Reuters

Kenanga raises Parkson target price

Posted: 05 Nov 2012 07:09 PM PST

Kenanga Research raised its target price on department store group Parkson Holdings Bhd to RM5.13 from RM4.86 on the back of the firm's retail outlet expansion in Myanmar.

Parkson's first store will be developed through a joint venture with Yoma Strategic Holdings Ltd and First Myanmar Investment Company Ltd. Beyond that, the group aims to open a full-fledged department store at around 200,000 square feet in Yangon in three to four years, catering to the mid to upper-middle income segment.

"We are positive on the news as this would be an opportunity for Parkson to strengthen and expand its network in Myanmar by leveraging on its partners' expertise and strengths to gain first-mover advantage in the rapidly growing retail sector in the country," Kenanga said in a note on Tuesday.

The research house kept its 'market perform' call on the stock.

However, as of 0252 GMT, Parkson shares were down 1.7 per cent against the Malaysian benchmark stock index's 0.5 per cent drop. - Reuters
Kredit: www.nst.com.my

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Obama, Romney pursue last votes in deadlocked race - Chicago Tribune

Posted: 05 Nov 2012 09:12 AM PST

CBS Political Director John Dickerson maps out possible ways to win for the two presidential campaigns.

President Barack Obama and Republican challenger Mitt Romney make a frenetic dash to a series of crucial swing states on Monday, delivering their final arguments to voters on the last day of an extraordinarily close race for the White House.

              After a long, bitter and expensive campaign, national polls show Obama and Romney are essentially deadlocked ahead of Tuesday's election, although Obama has a slight advantage in the eight or nine battleground states that will decide the winner.

              Obama plans to visit three of those swing states on Monday and Romney will travel to four to plead for support in a fierce White House campaign that focused primarily on the lagging economy but at times turned intensely personal.

              The election's outcome will impact a variety of domestic and foreign policy issues, from the looming "fiscal cliff" of spending cuts and tax increases that could kick in at the end of the year to questions about how to handle illegal immigration or the thorny challenge of Iran's nuclear ambitions.

              The balance of power in Congress also will be at stake on Tuesday, with Obama's Democrats now expected to narrowly hold their Senate majority and Romney's Republicans favored to retain control of the House of Representatives.

              In a race where the two candidates and their party allies raised a combined $2 billion, the most in U.S. history, both sides have pounded the heavily contested battleground states with an unprecedented barrage of ads.

              The close margins in state and national polls suggested the possibility of a cliffhanger that could be decided by which side has the best turnout operation and gets its voters to the polls.

              In the final days, both Obama and Romney focused on firing up core supporters and wooing the last few undecided voters in battleground states.

              Romney reached out to dissatisfied Obama supporters from 2008, calling himself the candidate of change and ridiculing Obama's failure to live up to his campaign promises. "He promised to do so very much but frankly he fell so very short," Romney said at a rally in Cleveland, Ohio, on Sunday.

              Obama, citing improving economic reports on the pace of hiring, argued in the final stretch that he has made progress in turning around the economy but needed a second White House term to finish the job. "This is a choice between two different versions of America," Obama said in Cincinnati, Ohio.

              FINAL SWING-STATE BLITZES

              Obama will close his campaign on Monday with a final blitz across Wisconsin, Ohio and Iowa - three Midwestern states that, barring surprises elsewhere, would be enough to get him more than the 270 electoral votes needed for victory.

              Polls show Obama has slim leads in all three. His final stop on Monday night will be in Iowa, the state that propelled him on the path to the White House in 2008 with a victory in its first-in-the nation caucus.

              Romney will visit his must-win states of Florida and Virginia - where polls show he is slightly ahead or tied - along with Ohio before concluding in New Hampshire, where he launched his presidential run last year.

              The only state scheduled to get a last-day visit from both candidates is Ohio, the most critical of the remaining battlegrounds - particularly for Romney.

              The former Massachusetts governor has few paths to victory if he cannot win in Ohio, where Obama has kept a small but steady lead in polls for months.

              Obama has been buoyed in Ohio by his support for a federal bailout of the auto industry, where one in every eight jobs is tied to car manufacturing, and by a strong state economy with an unemployment rate lower than the 7.9 percent national rate.

              That has undercut Romney's frequent criticism of Obama's economic leadership, which has focused on the persistently high jobless rate and what Romney calls Obama's big spending efforts to expand government power.

              Romney, who would be the first Mormon president, has centered his campaign pitch on his own experience as a business leader at a private equity fund and said it made him uniquely suited to create jobs.

              Obama's campaign fired back with ads criticizing Romney's experience and portraying the multimillionaire as out of touch with everyday Americans.

              Obama and allies said Romney's firm, Bain Capital, plundered companies and eliminated jobs to maximize profits. They also made an issue of Romney's refusal to release more than two years of personal tax returns.

              (Editing by Alistair Bell and Christopher Wilson)

Superstorm Sandy's victims brace for new storm - CBS News

Posted: 05 Nov 2012 07:56 AM PST

NEW YORK A new storm was expected to hit the New York-New Jersey region still shivering and cleaning up after last week's Superstorm Sandy, bringing the threat of 55 mph gusts and more beach erosion, flooding and rain by Wednesday.

25 Photos

New Yorkers helping neighbors after Sandy

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Cold weather a new problem for Sandy victims

Temperatures dipped toward freezing early Monday, and tens of thousands of people without power along the ravaged Atlantic coastline faced the growing certainly that they would have to find somewhere else to stay. Especially hard hit were the thousands in public housing, who often have no place to go and barricade themselves in darkened apartments for the 12 hours of night.

"Nights are the worst because you feel like you're outside when you're inside," said Genice Josey, a Far Rockaway resident who sleeps under three blankets and wears long johns under her pajamas. "You shiver yourself to sleep."

David Bernard, chief meteorologist for CBS' Miami station WFOR-TV, reports that between Tuesday night and early Wednesday morning the storm will begin to gather strength off the Outer Banks of North Carolina.

The weather will likely deteriorate across the Northeast during the day Wednesday, Bernard reports. Even inland areas like Washington, D.C., could see a heavy, wet snow Wednesday evening before changing over to rain. The bad weather could last until Thursday night and possibly even Friday night.

As more than a million students joined the morning rush hour Monday for the first time since the storm, commuters continued to wait - and sometimes sleep - in their cars in long lines for gas. Other commuters packed the limited-service Long Island trains so tightly that some people couldn't get on.

"We're a gallon away from turning into a Third World country," New York commuter Scott Sire said Monday.

Play Video

Obama on Sandy: We will put "120 percent" toward recovery

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Romney on Hurricane Sandy: "We are going through trauma"

And with the U.S. presidential election on Tuesday, New York City's mayor was asked if the city would be ready for it. "I have absolutely no idea," Michael Bloomberg said.

The new storm worried the large swaths of the region that were returning to something resembling normal.

"Prepare for more outages," said National Weather Service meteorologist Joe Pollina. "Stay indoors. Stock up again."

Sandy left more than 100 people dead in 10 states. Half a million people in New York state remained without power, and more than 800,000 were without power in New Jersey a week after the storm.

To help victims of Sandy, donations to the American Red Cross can be made by visiting Red Cross disaster relief, or you can text REDCROSS to 90999 to make a $10 donation.

With temperatures sinking into the 30s overnight, New York City officials handed out blankets and urged victims to go to overnight shelters or daytime warming centers.

But government leaders began to wonder where to find housing in the densely developed area around the largest U.S. city for the tens of thousands whose homes could be uninhabitable for weeks or months.

Bloomberg said 30,000 to 40,000 New Yorkers may need to be relocated - a monumental task in a city where housing is scarce and expensive - though he said that number will probably drop to 20,000 within a couple of weeks as power is restored in more places.

Play Video

On the Road: Children of the storm

"We're not going to let anybody go sleeping in the streets. ... But it's a challenge, and we're working on it," Bloomberg said.

One option is setting up Federal Emergency Management Agency trailer camps of the kind that existed after Hurricane Katrina hit New Orleans in 2005, said George W. Contreras, associate director of the emergency and disaster management program at Metropolitan College of New York.

Contreras speculated that large encampments might be set up at a stadium, in a park or in some other open space in the city - something he couldn't recall being done in New York ever before.

"The amount of actual units the city might have in buildings is probably very limited, so I think people will be in FEMA shelters for a while," he said.

49 Photos

Sandy's devastation on Staten Island

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Good Samaritans bring relief to Staten Island

In a powerless and heavily flooded Staten Island neighborhood, Sara Zavala sleeps under two blankets and layers of clothing. She has a propane heater but turns it on for only a couple of hours in the morning.

"When I woke up, I was like, 'It's freezing.' And I thought, 'This can't go on too much longer,'" she said Sunday.

Nearly 1 million homes and businesses were still without power in New Jersey, and about 650,000 in New York City, its northern suburbs and Long Island.

Sue Chadwick, who left her Long Island, house ahead of the storm, said Sunday night she and others were told to leave their Extended Stay America hotel rooms in Melville that she had booked through the end of next week - to make room for other storm victims.

Chadwick's own house remained uninhabitable. She found her way to Vermont to stay with family.

"It's not like I'm there on business and could catch the next plane out," she said. "There are people in worse shape, but I just feel like when people are in these dire circumstances, you don't want to make it worse."

The phone rang unanswered at the hotel Sunday night.

Kredit: www.nst.com.my
 

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