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Bullish FY13 results lift DiGi share Posted: 06 Feb 2014 06:41 PM PST DiGi.Com Bhd's shares increased 1.443 per cent this morning as the stock became attractive following its better-than-expected 2013 financial year results posted yesterday. As at 10am, the telecommunication services provider's share rose seven sen to RM4.92, with 6.858 million lots changing hands. DiGi.Com registered a higher pre-tax profit of RM1.705 billion for the financial year ended December 31, 2013 against RM1.205 billion recorded in the previous financial year. Revenue grew to RM6.733 billion in the period under review from RM6.360 billion registered in 2012. The company declared a total dividend of 21.30 sen per share for 2013, including an interim dividend of 7.05 sen per share in the fourth quarter. HwangDBS Vickers Research said DiGi.Com was poised for growth in the current financial year. "We think DiGi will enjoy earnings upside from subscriber gains as a result of expanding 3G population coverage, greater mobile internet usage and stable margins through cost efficiencies. "Moreover, depreciation expenses would be lower as its new network has a longer useful life and was built at a lower cost compared to its legacy network," the research house said in a note today. The research firm has upgraded DiGi to a 'buy call, with a higher target price of RM5.35, after increasing its terminal growth assumption to two per cent from 1.5 per cent. HwangDBS said that it was optimistic on DiGi's earnings outlook, given its strengthening position in the prepaid segment. Meanwhile, Kenanga Research said DiGi is expected to deliver between four and six per cent revenue growth in the FY14, higher than the industry average of four per cent. Following the projection, the research house has maintained its 'outperform' rating on DIGi.Com, with unchanged target price of RM5.24. Kenanga Research had also raised its FY14 and FY15 net profit forecasts on DiGi by 6.7 per cent and 2.5 per cent, respectively, after fine-tuning and lowering the depreciation cost assumption.-- Bernama

UEM Sunrise, KL Kepong in Iskandar jv Posted: 06 Feb 2014 07:13 PM PST UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd will jointly develop two projects in Iskandar Malaysia, Johor generating RM20 billion in gross development value. The first project is the 2,500 acres Fraser Metropolis, which will comprise residential, industrial and commercial properties worth RM15 billion to be developed over 15 years. The second development is the 500 acres Gerbang Nusajaya featuring residential and commercial properties worth RM5 billion to be developed over eight years. Both parties formalised two separate agreements today for the planned joint venture developments.

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Competition begins at Winter Olympics after DHS issues toothpaste tube ... - Fox News Posted: 06 Feb 2014 08:21 AM PST WASHINGTON –  The U.S. Department of Homeland Security warned Wednesday that terrorists may try to smuggle explosives on Russia-bound planes using toothpaste tubes. The threat was passed on to airlines that have direct flights to Russia, including some that originate in the United States, according to a law enforcement official speaking Wednesday on condition of anonymity because he was not authorized to discuss details of the warning, which came hours before competition began at the Winter Olympics in the Black Sea resort town of Sochi, Russia.  The official said the airlines were warned that explosive devices could be assembled in flight or upon arrival at the Olympics. The department said in a statement that the U.S. "isn't aware of a specific threat to the homeland at this time." It said the department "regularly shares information with domestic and international partners, including those associated with international events such as the Sochi Olympics." Delta Airlines is the only U.S. carrier with a direct flight from the United States to Moscow. Russian airlines Aeroflot and Transaero both operate several nonstop flights from the U.S. United Airlines, the official airline of the U.S. Olympic team, does not have scheduled service to Russia but is operating some charter flights to Sochi. Earlier Wednesday, Russia investigators said security forces killed a militant who may have helped train the two suicide bombers who struck the southern city of Volgograd. The bombings of a train station and an electric trolleybus in late December killed 34 people and heightened security fears of the Olympics. Competition began 32 hours before Friday's opening ceremony due to the addition of 12 new medal events for men and women. Men's slopestyle snowboarding was the first event to get underway, and was scheduled to be followed by women's slopestyle, women's moguls, and team figure skating.  The Associated Press contributed to this report.

Judge orders Texas teen Ethan Couch to rehab for driving drunk, killing 4 - CNN Posted: 06 Feb 2014 07:41 AM PST STORY HIGHLIGHTS The lock-down residential treatment facility is not identified The teen's family will foot the bill Couch was sentenced to 10 years' probation but no jail time (CNN) -- A judge on Wednesday ordered that Ethan Couch -- who drove drunk and caused a crash, killing four people and injuring two -- go to a lock-down residential treatment facility. State District Judge Jean Boyd had already decided the Texas teenager would serve no jail time. He was sentenced last year to 10 years' probation. His story made national headlines after a witness claimed Couch was a victim of "affluenza" -- the product of wealthy, privileged parents who never set limits for the boy. That particular defense, however, played no part in the judge's decision, Couch's lawyer told reporters on Wednesday. Court proceedings were closed to the public. "She (Boyd) said it (affluenza), and specifically mentioned that that was not a basis for her decision," said attorney Reagan Wynn. "She heard all the evidence and she made what she thought was the appropriate disposition." 'Affluenza' defense psychologist: 'I wish I hadn't used that term' The judge ordered that Couch's parents pay for the treatment facility, which was not identified. It was also unclear how long Couch might stay there. As part of his probation, the teen must refrain from using drugs or alcohol. He will also not be allowed to drive. If Couch violates the terms of his probation, he could face up to 10 years behind bars. "I think he can be rehabilitated given intensive therapy and I hope that he gets it," Wynn said about the teen. "The juvenile system is about rehabilitation and if it's going to be about rehabilitation, she (Boyd) absolutely made the right decision." Eric Boyles, who lost his wife and daughter in the crash, disagrees. He told reporters he has no doubt that money played a role in the case. Steering teen drivers out of harm's way "Had he (Couch) not had money to have the defense there, to also have the experts testify, and also offer to pay for the treatment, I think the results would have been different," he said Wednesday after the proceedings. Last June, his wife, Hollie Boyles, and daughter, Shelby, left their home to help Breanna Mitchell, whose SUV had broken down. Brian Jennings, a youth pastor, was driving past and also stopped to help. All four were killed when the teen's pickup plowed into the pedestrians on a road in Burleson, south of Fort Worth. Couch's vehicle also struck a parked car, which then slid into another vehicle headed in the opposite direction. Opinion: 'Affluenza' isn't as crazy as it sounds Two people riding in the bed of the teen's pickup were tossed in the crash and severely injured. One is no longer able to move or talk because of a brain injury, while the other suffered internal injuries and broken bones. According to prosecutors, three hours after the crash, tests showed Couch had a blood alcohol content of 0.24, three times the legal limit. "There has been nothing from Ethan from these proceedings with regards to remorse on his part at all -- that I do think would have helped. It would have helped the victims. No doubt about it, it would have helped," said Boyles. Prosecutors were similarly disappointed with the judge's decision. They had asked for the maximum of 20 years behind bars. "This has been a very frustrating experience for me," said prosecutor Richard Alpert. "I'm used to a system where the victims have a voice and their needs are strongly considered. The way the system down here is currently handled, the way the law is, almost all the focus is on the offender." 'Affluenza': Is it real? CNN's Jason Morris and Ed Lavandera contributed to this report. 0 Comments » SHARE THIS Print Email More sharing

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