Khamis, 23 Januari 2014

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Ringgit opens higher against US dollar

Posted: 23 Jan 2014 06:06 PM PST

The ringgit opened higher against the US dollar today on improved demand for the local unit.

As at 9.35am, the ringgit was quoted at 3.3290/3320 per US dollar versus yesterday's 3.3300/3330 close.

However, as against other major currencies, the local note was traded lower.

The ringgit depreciated against the Singapore dollar to 2.6030/6072 from 2.5969/6000 yesterday and declined to 3.2167/2203 from 3.1903/1944 versus the yen.

Against the British pound, the local note eased to 5.5338/5401 from 5.5321/5384 yesterday and weakened vis-a-vis the euro to 4.5551/5598 from 4.5395/5442 Thursday.-- Bernama

Gold up RM2.33

Posted: 23 Jan 2014 06:04 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM130.59 per gramme, up RM2.33 from RM128.26 at 5pm yesterday.-- Bernama
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Justin Bieber arrested on drunken driving, resisting arrest charges - CNN

Posted: 23 Jan 2014 08:32 AM PST

STORY HIGHLIGHTS
  • NEW: "I ain't got no f***ing weapons," police quote Bieber as saying
  • Chief: He told police he drank, smoked pot, took prescription medication before driving
  • SUVs blocked traffic, which "facilitated an open road" for two cars to race, police say
  • Justin Bieber is also under investigation in a felony vandalism case in California

(CNN) -- Justin Bieber was charged with drunken driving, resisting arrest and driving without a valid license after police saw the pop star street racing Thursday morning, Miami Beach police said.

"What the f*** did I do? Why did you stop me?" Bieber told the police officer who pulled him over just after 4 a.m., according to the arrest report.

Bieber, 19, was booked into a Miami jail after failing a sobriety test, Miami Beach Police Chief Raymond Martinez told reporters Thursday.

Bieber "made some statements that he had consumed some alcohol, and that he had been smoking marijuana and consumed some prescription medication," Martinez said.

Justin Bieber was charged with drunken driving, resisting arrest and driving without a valid license after police saw the pop star street racing on January 23. He was booked into a Miami jail after failing a sobriety test. Justin Bieber was charged with drunken driving, resisting arrest and driving without a valid license after police saw the pop star street racing on January 23. He was booked into a Miami jail after failing a sobriety test.
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Justin Bieber had a rough 2013, and now 2014 doesn't appear to be shaping up much better. On January 23, Bieber was arrested on suspicion of DUI and drag racing, according to Miami Beach, Florida, police. Shown, Bieber the night before his arrest with Wilhemina model, Chantel Jeffries. The arrest is just the latest in a series of troubles for the pop star. Justin Bieber had a rough 2013, and now 2014 doesn't appear to be shaping up much better. On January 23, Bieber was arrested on suspicion of DUI and drag racing, according to Miami Beach, Florida, police. Shown, Bieber the night before his arrest with Wilhemina model, Chantel Jeffries. The arrest is just the latest in a series of troubles for the pop star.
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A Miami Beach officer saw Bieber driving a yellow Lamborghini in a race against a red Ferrari in a residential area of Miami Beach, Martinez said. The cars were speeding at about 55 to 60 mph in a 30 mph zone, he said.

Police report details Bieber arrest

The officer pulled Bieber's car over, but the singer was "was not cooperating with the officer's instructions," Martinez said.

"At first, he was a little belligerent, using some choice words questioning why he was being stopped and why the officer was even questioning him," he said.

He allegedly ignored a police officer's request to keep his hands on the car while he did "a cursory patdown for weapons," the report said.

"I ain't got no f***ing weapons," the arresting officer quoted Bieber as saying. "Why do you have to search me? What the f*** is this about?"

The arrest report describes Bieber as having a "flushed face, bloodshot eyes, and the odor of alcohol on his breath."

Bieber failed a field sobriety test, Miami Beach Police Sgt. Bobby Hernandez told CNN.

Two black SUVs blocked the traffic at 26th and Pine Street which "facilitated an open road" for the two cars to race on Pine Street, the report said.

The Ferrari's driver, whom a police spokesman called "an associate of Bieber," was also arrested on a drunken driving charge, he said. That person has not yet been publicly identified.

Bieber, 19, flew to Miami on Monday.

Other complaints

Another police department in the Miami area is investigating a report that some of its officers escorted Bieber's caravan between Miami strip clubs this week without authorization.

Opa-Locka Assistant City Manager David Chiverton told CNN affiliate WSVN-TV that "at some point, the escort took them at least to two locations that we know of."

"The police administration had no knowledge of this escort, and it is not the norm for those things to occur without the chief and his administration authorizing such escorts," Chiverton told the TV station.

Thursday's incident marks the first time the teen singer has been arrested, although he is under investigation on allegations of egging his California neighbor's home.

Los Angeles County sheriff's deputies used a felony search warrant last week to raid Bieber's mansion in the felony vandalism investigation. They seized Bieber's iPhone and the security camera system, which detectives have been examining for clues about who tossed eggs over a fence that splattered onto the next-door house, causing an estimated $20,000 in damage.

Bieber is having some issues

Deputies have also investigated reports by Bieber's neighbors that he raced his expensive sports car down the streets of the exclusive Oaks community of Calabasas, California, but no charges ever resulted.

One neighbor accused Bieber of spitting in his face during a heated confrontation last March. Deputies have responded to complaints about loud parties at Bieber's place.

The Los Angeles County district attorney's office concluded it couldn't prove the spitting or speeding cases in court, so it declined to prosecute.

Prosecutors also rejected a misdemeanor battery complaint from a photographer who accused Bieber of attacking him in the parking lot of a Calabasas shopping center as he was taking photos of Bieber and his then-girlfriend, Selena Gomez, in May 2012.

"We didn't do this search warrant to send a message," Sheriff's Lt. David Thompson said last week. "That's not what we do, but we hope maybe that understanding the gravity of this will change some of the behavior."

CNN en Español's Adriana Hauser contributed to this report.

Privacy Board Recommends End to Phone Data Surveillance - Wall Street Journal

Posted: 23 Jan 2014 08:33 AM PST

WASHINGTON—A federal privacy board said Thursday that the government's mass collection of American phone data is illegal and should end, a recommendation that deals another blow to U.S. spying practices.

The group also recommends in a report that the government immediately reduce the length of time phone databases are kept to three years from five and require the National Security Agency to seek approval from a secret...

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Rabu, 22 Januari 2014

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FTSE Bursa Malaysia update: 10.30am

Posted: 22 Jan 2014 05:51 PM PST

At 10.30am today, there were 193 gainers, 287 losers and 250 counters traded unchanged on the Bursa Malaysia.

The FBM-KLCI was at 1,810.23 down 3.87 points, the FBMACE was at
5,929.00 down 44.90 points, and the FBMEmas was at 12,527.95 down 20.39 points.

Turnover was at 461.852 million shares valued at RM397.173 million.-- Bernama

Gold down 22 sen

Posted: 22 Jan 2014 05:59 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM127.88 per gramme, down 22 sen from RM128.10 at 5pm yesterday.-- Bernama
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Heaviest snowfall of the season blankets Northeast - CNN

Posted: 22 Jan 2014 08:52 AM PST

Windblown snow swirls around a man under elevated train tracks in Philadelphia on Wednesday, January 22. Driven by frigid arctic air, a powerful system is making a mess of things up and down the Eastern Seaboard, especially from Washington to Boston. More than a foot of snow has fallen in parts of the Northeast.Windblown snow swirls around a man under elevated train tracks in Philadelphia on Wednesday, January 22. Driven by frigid arctic air, a powerful system is making a mess of things up and down the Eastern Seaboard, especially from Washington to Boston. More than a foot of snow has fallen in parts of the Northeast.
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Obama praises 'Roe vs. Wade' - USA TODAY

Posted: 22 Jan 2014 08:58 AM PST

President Obama has put out his annual statement on the anniversary of Roe vs. Wade, praising the 1973 Supreme Court ruling that struck down anti-abortion laws.

"We reaffirm our steadfast commitment to protecting a woman's access to safe, affordable health care and her constitutional right to privacy, including the right to reproductive freedom," Obama said in a statement.

The president said he also wants to re-affirm commitments to "reduce the number of unintended pregnancies, support maternal and child health, and continue to build safe and healthy communities for all our children."

Abortion opponents have gathered in Washington, D.C., for their annual rally against the high court decision handed down 41 years ago Wednesday.

Obama's statement in full:

"Today, as we reflect on the 41st anniversary of the Supreme Court decision in Roe v. Wade, we recommit ourselves to the decision's guiding principle: that every woman should be able to make her own choices about her body and her health.

"We reaffirm our steadfast commitment to protecting a woman's access to safe, affordable health care and her constitutional right to privacy, including the right to reproductive freedom.

"And we resolve to reduce the number of unintended pregnancies, support maternal and child health, and continue to build safe and healthy communities for all our children. Because this is a country where everyone deserves the same freedom and opportunities to fulfill their dreams."

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Selasa, 21 Januari 2014

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MRCB rated 'buy' by AmeSecurities

Posted: 21 Jan 2014 06:20 PM PST

KUALA LUMPUR: AmeSecurities re-initiate coverage on Malaysian Resources Corporation Berhad (MRCB) with a 'buy' rating and fair value of RM2.20 per share at a 20 per cent discount to the NAV of RM2.75 per share.

MRCB had several false starts over the years but the entry of new management, led by its CEO cum substantial shareholder Dato Mohamad Salim Fateh Din, should instil greater entrepreneurial spirit.

In fact, it has been undergoing a quiet restructuring exercise. The focus is on stabilising its balance sheet with property development as the cornerstone for growth.

Several catalytic newsflows to lift its balance sheet (net debt: RM2.9bil) may kick-in in the coming months, starting with asset monetisation of at least RM2bil. This has already started with the divestment of its IT business for RM45mil.

Next on the cards is the injection of its prime office properties in KL Sentral into a REIT. The immediate plan is to divest Platinum Sentral for RM680 million, followed by Shell Tower and Ascott Residences. Such a move would transfer RM750 million of debts to the REIT, with realised gains of about RM380mil, on our estimates.

MRCB may commence toll collection for the EDL Highway soon, subject to final regulatory approval. The toll proceeds are expected to be higher than the government compensation of about RM11mil/month currently. Its 30% stake in DUKE may be divested by month-end.

The lacklustre construction division is being revamped to avoid future losses. Building works would be deemphasised; it is embracing open tenders even for its own projects. New bids would focus on infrastructure & environmental engineering that come with higher margins.

KL Sentral has 2.5 million sq ft of NFA left to be developed under Lot F. MRCB is rebuilding its landbank. It recently acquired 1.8 acres of commercial land fronting a lake in Putrajaya. It is also looking to acquire the balance 49 per cent of Penang Sentral with an estimated GDV of RM2 billion.

The High Court is expected to deliver its judgement on the status of PJ Sentral – currently under dispute with PKNS – on January 30. PJ Sentral has high development potential given its strategic location. A favourable outcome would kick-start the share price re-rating cycle.

The development of RRIM land by its major shareholder EPF (39 per cent) may present future opportunities for MRCB. The stock is trading at 45 per cent discount to its RNAV, and at a trough P/BV of about 1.4x.

RHB keeps 'buy' call on CIMB shares

Posted: 21 Jan 2014 06:40 PM PST

KUALA LUMPUR: RHB is maintaining a 'buy' call on CIMB with a fair value of MYR8.90 per share.

This is based on a target 2014 price/earnings (P/E) of 14 times, a 10 per cent discount to the 10-year average to factor in higher earnings risk due to its Indonesian operations.

Admittedly, the stock continues to face near-term headwinds from Indonesia's challenging environment, among others. However, we think this has largely been priced in.

In fact, we see management's more bullish stance on Indonesia and feedback regarding asset quality as two key takeaways from the meeting that should be positive for investor sentiment.

We are waiting to see how these filter down to its financial targets for 2014.

This aside, we are still positive on the domestic outlook, thanks to the emergence of a new investment cycle.

We are of the view that CIMB's strong domestic corporate presence means that the bank will be one of the major beneficiaries of the rollout of ETP projects.

Malaysia still contributes the bulk of group profit before tax (PBT) (nine months 2013 was 62 per cent).

Apart from that, other re-rating catalysts we see include more positive news flow on Indonesia's macroeconomic front, a stronger pickup in capital market activities and cost restructuring initiatives bearing fruit.

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Parties Seize On Abortion Issues in Midterm Race - New York Times

Posted: 20 Jan 2014 09:08 PM PST

[unable to retrieve full-text content]

MiamiHerald.com

Parties Seize On Abortion Issues in Midterm Race
New York Times
Both sides of the abortion issue expressed their views at last year's March for Life in Washington. Michael Reynolds/European Pressphoto Agency. WASHINGTON — When the Republican National Committee gathers for its winter meeting here on Wednesday ...
Plan to boost GOP in Conn. cities to be launchedDanbury News Times
Little has changed year after GOP's planned rebootArizona Daily Star

all 130 news articles »

Christie's big speech to have no mention of scandal - CNN

Posted: 21 Jan 2014 08:14 AM PST

STORY HIGHLIGHTS
  • Separate state legislature investigations merged into one
  • Gala celebrating Christie's second term canceled due to winter storm
  • Christie does not plan to mention controversies in his inaugural address
  • Gov. Chris Christie's office played politics with Sandy funds, Hoboken mayor says

(CNN) -- On the first day of his second term, New Jersey Gov. Chris Christie faces brewing storms -- literally and figuratively.

A scandal over alleged political retribution by his administration has already cost a top aide and campaign strategist their jobs, and now Christie faces multiple investigations that could harm the presidential ambitions of the early Republican front-runner for 2016.

Even the weather was against him, with a looming snowstorm forcing cancellation of his gala celebration on Ellis Island after Tuesday's second-term inaugural address.

Despite the controversy hanging over the usually celebratory proceedings of an inauguration, Christie won't address the scandal in his speech, advisers told CNN.

As the Republican governor in a state dominated by Democrats, he instead will contrast himself with the partisanship in Washington by promoting a bipartisan vision for the Garden State.

No matter how hard he tries to avoid the scandal over traffic gridlock in Fort Lee as apparent political payback, his words will be scrutinized for any reference or hint regarding investigations by a U.S. attorney and the state legislature, as well as a promised internal review.

Before Christie speaks, the New Jersey state Assembly and Senate will announce they will merge their separate investigative committees into one panel to probe the allegations that Christie's administration abused its power, sources told CNN's Dana Bash and Shimon Prokupecz.

Business mogul and Republican backer Donald Trump summed up Christie at a political breakfast Tuesday in New Hampshire, saying, "He's a good guy, but he's one e-mail away from a disaster."

'Our dreams are the same'

Excerpts of his speech released in advance indicated Christie would stick to the same themes as his State of the State address last week.

"One of the lessons that I have learned most acutely over the last four years is that New Jersey can really be one state," Christie plans to say as he takes office for a second term after his landslide re-election victory in November.

"This election has taught us that the ways we divide each other -- by race, by class, by ethnicity, by wealth, by political party -- is neither permanent nor necessary," he will say. "Our dreams are the same: a good job, a great education for our children, safe streets in our neighborhood and core values which give our lives real meaning."

In an effort to position himself as an alternative to Washington political dysfunction, Christie will warn against the hyperpartisanship and gridlock that have caused record low support for Congress in opinion polls.

"We cannot fall victim to the attitude of Washington, D.C.," he will say. "The attitude that says I am always right and you are always wrong. The attitude that puts everyone into a box they are not permitted to leave."

Such remarks will fly in the face of the image some opponents are offering of an administration that carries out dirty threats and retributive tactics against political opponents.

The state and federal investigations are looking into suggestions that top aides and advisers to the governor orchestrated traffic jams around the George Washington Bridge in Fort Lee last year to punish that town's Democratic mayor for not endorsing Christie for re-election.

Christie has denied knowledge of the alleged bridge scheme.

In another controversy, Hoboken Mayor Dawn Zimmer alleges Christie's administration "held hostage" Superstorm Sandy recovery funds.

Christie scandals: What you need to know

Hours before Christie's second inaugural, a top New Jersey Republican defended him.

"He's a former federal prosecutor, indicted over a hundred politicians. He's the last guy on earth who's going to do an illegal activity. It's repugnant to him," said Jon Bramnick, the Republican leader in the New Jersey State Assembly, on CNN's "New Day."

"He is the most straight-talking, honest, most charismatic, successful leader that I have seen in all of my life in New Jersey," Bramnick told CNN anchor Chris Cuomo.

In his much-watched State of the State Address last week, Christie briefly acknowledged the controversies at the top of his speech. He then spent most of the address touting his achievements over the past four years and highlighting his bipartisan accomplishments.

With the next race for the White House on the horizon, and Christie seriously considering a bid for the GOP presidential nomination, he hopes the message is one that will resonate with a national audience.

However, new national polling indicates that Christie's standing among independents and Democrats has taken a hit.

CNN exclusive: Port Authority job created for Christie ally, source says

As Christie formally starts his second term, what was supposed to be a day of celebration is now clouded by the multiple controversies.

"He needs to talk about getting things done that help people and try to turn the page here. These investigations are going to last for months," said CNN chief national correspondent John King. "Over the next couple of months, can he effectively govern in New Jersey while these investigations are going on? That's a giant challenge."

Hoboken mayor provides more evidence

Zimmer, the Hoboken mayor, says she was pressured by one of Christie's officials to back a development project in the city that Christie supported.

In particular, she said she received an ultimatum from Lt. Gov. Kim Guadagno to support the plan proposed by The Rockefeller Group -- a firm with Christie ties -- or risk losing out on Superstorm Sandy recovery funds. Zimmer said Guadagno told her the message came directly from the governor.

Christie marches on as controversy at home unfolds

Aides and advisers to Christie have ties to Wolff & Samson, the law firm representing The Rockefeller Group.

The firm's lobbyist, Lori Grifa, was a former commissioner of the New Jersey Department of Community Affairs, and Wolff & Samson's David Samson is chairman of the Port Authority of New York and New Jersey and was appointed by Christie.

Samson was recently served with a subpoena in the George Washington Bridge case by the state legislature investigative committee seeking relevant documents.

Guadagno publicly denied the accusation.

"Mayor Zimmer's version of our conversation in May of 2013 is not only false but is illogical and does not withstand scrutiny when all of the facts are examined," Guadagno said Monday.

Zimmer, a Democrat elected in 2009, also said Community Affairs Commissioner Richard Constable made a similar demand regarding storm aid and the real estate plan.

Constable also denied her accusations, calling the claims libelous and "patently false and absurd on their face."

Who is Dawn Zimmer?

Zimmer said she stands by her account, remains "willing to testify under oath," and will answer any questions from the U.S. attorney's office.

Hoboken, a historically working-class town on the banks of the Hudson River made famous by favorite son Frank Sinatra, has experienced a resurgence in recent years. New development, cleaned-up parks and neighborhood charm marketing nostalgia have boosted its image and attracted new residents and businesses.

Hot piece of land in Hoboken at center of Christie-Zimmer dispute

Zimmer met with the office of U.S. Attorney Paul Fishman for several hours Sunday at its request and provided prosecutors with her journal, which contained information about the parking lot episode.

Guadagno said she recalled having a conversation with Zimmer that day, but that Zimmer is mischaracterizing their conversation. A source close to Guadagno who was not authorized to speak publicly said it was Zimmer who argued that Sandy recovery aid and redevelopment were the same issue, according to a source

"She remembers Zimmer pressing Kim for money for Sandy. Kim remembers saying you can't tie the two together," the source told CNN. "And she remembers Zimmer continuing to press and showing her a map of the city and pressing for aid for Sandy."

Zimmer disputes that account and provided CNN with letters that she said back up her case.

On April 23, she sent a letter to Christie's office that says development and Sandy aid should not be connected.

"Just as shore towns are not being asked for development in exchange for protecting them from future storms, the solution to Hoboken's flooding challenges cannot be dependent on future development," the letter read.

She sent another letter to his office on May 8 asking for help with funding pumps. Zimmer's conversation with Guadagno happened just days later and the mayor said she believes the two events are related.

"When you look at all of the events together, you can see that it was a progression. It was a progression of pressure and she was sent in to really make that final message to me," Zimmer told CNN's "Anderson Cooper 360."

See the journal entries

Christie spokesman: Hoboken accusation false

Christie spokesman Colin Reed said it was "categorically false" that Sandy funds were withheld.

"It's very clear partisan politics are at play here as Democratic mayors with a political ax to grind come out of the woodwork and try to get their faces on television," Reed said in a statement.

Building its case against Zimmer, Christie's administration hosted a conference call for reporters Monday defending how Sandy funds were allocated.

Marc Ferzan, executive director of the Governor's Office of Recovery and Rebuilding, said that Zimmer's accounting is "a mischaracterization."

After Sandy, Hoboken was 80% underwater. Zimmer said the city received about $300,000 of the roughly $100 million in state funds the city requested for flood prevention.

Ferzan said Hoboken has been approved for nearly $70 million in aid. But that aid was given mostly to individual residents and small businesses, not the city of Hoboken.

The Hoboken allegation is the second to surface regarding Sandy money.

A federal watchdog, the inspector general for the Department of Housing and Urban Development, is looking at protocols around state spending for a marketing ad for Sandy recovery featuring Christie and his family. The Christie administration went with a firm that charged twice as much to produce the spot as another bidder.

CNN's Chris Frates, Steve Kastenbaum, Erin McPike, Jake Tapper, Paul Steinhauser and Dana Davidsen contributed to this report.

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