Followings news was picked from The Edge Daily dated 25-09-2007. Well done Malaysia! Proub to be Malaysian.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is the country’s most valuable brand based on a report on Malaysia’s Top 50 Most Valuable Brands by London-based Brand Finance Institute.
The leading independent brand valuation firm said Petronas, which is also ranked among Fortune Global 500’s largest corporations in the world, has a brand value of US$2.1 billion (RM7.3 billion), making it the most valuable out of 50 household brands of various industries in Malaysia.
Malayan Banking Bhd (Maybank) came in second with brand value of US$1.6 billion (RM5.6 billion). Companies that made it to the top 10 list, were Telekom Malaysia Bhd (TM), Genting Bhd, Bumiputra-Commerce Holdings Bhd (BCHB), Tenaga Nasional Bhd, Maxis Communications Bhd, Public Bank Bhd, Sime Darby Bhd and Malaysian Airline System Bhd. (see chart)
The banking industry was the most highly represented, with Maybank, BCHB and Public Bank in second, fifth and eighth placing, respectively.
Brand Finance said the rankings were compiled using publicly available information on market share, market growth and company financials with data from Bloomberg, annual reports and press releases.
Its brand valuation was conducted using “royalty relief”, based on the assumption that the company was not owning its own brand, but was required to pay royalty fees to operate from a third party.
The present value of the hypothetical stream of royalty fees would represent the brand value, it said.
It said the released rankings would provide an overview of the methodologies for measuring brand equity from customer perspective, and measure how it would translate into superior business value.
In the 17-page report, Brand Finance said the growth of Asian companies had been driven by manufacturing and capital-intensive industries but was slowly shifting towards service-oriented ones as the region’s economics began to develop and mature.
It said investors recognised that productive resources of these companies were increasingly represented by assets that did not appear in financial statements such as patents, supply chain systems, distribution rights, skilled workers and brands.
Additionally, recent changes in the accounting standards for business acquisitions had reinforced the importance of understanding intangible assets that accounted for an increasingly large proportion of business value, it said.
According to the International Financial Accounting Standards 3 that was implemented in March 2004, goodwill on intangible assets was no longer reported as excess of purchase price over the acquisition of tangible assets.
Instead, goodwill will be allocated to five classes of intangible assets. (see chart above).
Brand Finance said the recognition of intangible value in the country, however, was low compared with other countries as only 40% of Malaysia’s market value was derived from intangible assets against the US whose market was derived from intangible assets was 70%.
Wednesday, September 26, 2007
Monday, September 24, 2007
Forbes Rich List
Below was picked from the star dated 22.9.2007 (Saturday). Congra to Gates whom came in first for the 14th consecutive year with net worth of US$59bil, ahead of US$52bil held by his friend Warren Buffet, 77, chairman and chief executive officer of Berkshire harthway Inc. Congra!
Hedge fund managers make Forbes rich list
SAN FRANCISCO: Hedge fund and private equity managers made up more than half the newest members to the Forbes magazine's 400 richest Americans list that was again topped by Microsoft Corp co-founder Bill Gates.
Gates, 51, came in first for the 14th consecutive year with a net worth of US$59bil, ahead of the US$52bil held by his friend Warren Buffett, 77, chairman and chief executive officer of Berkshire Hathaway Inc.
Steven Cohen of SAC Capital Advisors LLC was the richest hedge fund manager with US$6.8bil, and was ranked 47th overall.
The cost of joining the 25th annual Forbes 400 list increased in 2007. Those in the bottom positions had a net worth of US$1.3bil, up US$300mil from last year when all the members were billionaires for the first time.
Filling in the top five were Sheldon Adelson, 74, chief executive officer of Las Vegas Sands Corp, with US$28bil; Oracle Corp CEO Larry Ellison, 63, with US$26bil and Google Inc co-founders Sergey Brin and Larry Page, each with US$18bil.
Brin and Page, both 34, replaced Microsoft co-founder Paul Allen, who dropped to No. 11 with US$16.8bil.
Kirk Kerkorian, 90, joined the top 10 at No. 7 from No. 26 with US$18bil, along with Dell Inc founder Michael Dell, 42, with US$17.2bil in eighth place. Brothers Charles Koch, 71, and David Koch, 67, who profited from oil and commodity investments through Koch Industries Inc to amass their US$17bil fortunes, were tied in ninth place.
The subprime mortgage crisis this year – which shook debt, credit and stock markets globally – did not keep several hedge fund and private equity managers from joining the list, which consisted of 45 new names.
TPG Inc's David Bonderman and James Coulter were joined on the list for the first time by the Carlyle Group's William Conway, Daniel D'Aniello and David Rubenstein, and Blackstone Group LP's Peter Peterson and Tony James.
Thirty-nine women made the list, led by Abigail Johnson at No. 17 with US$15bil, Forbes said. Johnson's family controls Fidelity Investments, the world's largest mutual fund company. Daytime television star Oprah Winfrey was No. 165 with US$2.5bil. – Bloomberg
Hedge fund managers make Forbes rich list
SAN FRANCISCO: Hedge fund and private equity managers made up more than half the newest members to the Forbes magazine's 400 richest Americans list that was again topped by Microsoft Corp co-founder Bill Gates.
Gates, 51, came in first for the 14th consecutive year with a net worth of US$59bil, ahead of the US$52bil held by his friend Warren Buffett, 77, chairman and chief executive officer of Berkshire Hathaway Inc.
Steven Cohen of SAC Capital Advisors LLC was the richest hedge fund manager with US$6.8bil, and was ranked 47th overall.
The cost of joining the 25th annual Forbes 400 list increased in 2007. Those in the bottom positions had a net worth of US$1.3bil, up US$300mil from last year when all the members were billionaires for the first time.
Filling in the top five were Sheldon Adelson, 74, chief executive officer of Las Vegas Sands Corp, with US$28bil; Oracle Corp CEO Larry Ellison, 63, with US$26bil and Google Inc co-founders Sergey Brin and Larry Page, each with US$18bil.
Brin and Page, both 34, replaced Microsoft co-founder Paul Allen, who dropped to No. 11 with US$16.8bil.
Kirk Kerkorian, 90, joined the top 10 at No. 7 from No. 26 with US$18bil, along with Dell Inc founder Michael Dell, 42, with US$17.2bil in eighth place. Brothers Charles Koch, 71, and David Koch, 67, who profited from oil and commodity investments through Koch Industries Inc to amass their US$17bil fortunes, were tied in ninth place.
The subprime mortgage crisis this year – which shook debt, credit and stock markets globally – did not keep several hedge fund and private equity managers from joining the list, which consisted of 45 new names.
TPG Inc's David Bonderman and James Coulter were joined on the list for the first time by the Carlyle Group's William Conway, Daniel D'Aniello and David Rubenstein, and Blackstone Group LP's Peter Peterson and Tony James.
Thirty-nine women made the list, led by Abigail Johnson at No. 17 with US$15bil, Forbes said. Johnson's family controls Fidelity Investments, the world's largest mutual fund company. Daytime television star Oprah Winfrey was No. 165 with US$2.5bil. – Bloomberg
Saturday, September 22, 2007
Stary Stary Night
The following song is a very old song by Don McLean. Everytime I listen to this song, I feel sad...
STARY STARY NIGHT (VINCENT)
By Don McLean
星夜
Starry, starry night
繁星之夜
Paint your palette blue and gray
星空在你的画板照得灰暗幽兰
Look out on a summer's day
某个夏日
With eyes that know the darkness in my soul
你用洞悉我灵魂深处的双眼
Shadows on the hills
看到山上的阴影
Sketch the trees and the daffodils
画上树和水仙花
Catch the breeze and the winter chills
捕捉微风和冬天的寒意
In colors on the snowy linen land
亚麻色的大地覆盖着积雪
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
Starry, starry night
繁星之夜
Flaming flowers that brightly blaze
耀眼的花朵闪烁光芒
Swirling clouds in violet haze
流转的云朵散发紫罗兰的朦胧
Reflect in Vincent's eyes of china blue
在文森特中国蓝的眼睛中闪耀
Colors changing hue
颜色在变
Morning fields of amber grain
清晨琥珀色的田野
Weathered faces lined in pain
痛苦中风化的脸
Are soothed beneath the artist's loving hand
在艺术家爱之手下减轻痛苦
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们从来不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
For they could not love you
因为他们不能爱你
But still, your love was true
但你的爱是真挚的
And when no hope was left inside
当内心再也没有希望
On that starry, starry night
在布满星星的夜晚
You took your life as lovers often do
你像情人们常做的那样结束自己的生命
But I could've told you, Vincent
我本应告诉你，文森特
This world was never meant For one as beautiful as you
这个世界从来就不象你一样美
Starry, starry night
繁星之夜
Portraits hung in empty halls
肖像挂在空荡荡的大厅
Frameless heads on nameless walls
无名的墙上挂着无框的头像
With eyes that watch the world and can't forget
凝视这个世界，难以忘却
Like the strangers that you've met
就像你遇见的陌生人
The ragged men in ragged clothes
褴褛的衣服粗鲁的人
The silver thorn, a bloody rose
血红色玫瑰、银色荆棘
Lie crushed and broken on the virgin snow
破碎地躺在无痕的雪地上
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们从来不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
STARY STARY NIGHT (VINCENT)
By Don McLean
星夜
Starry, starry night
繁星之夜
Paint your palette blue and gray
星空在你的画板照得灰暗幽兰
Look out on a summer's day
某个夏日
With eyes that know the darkness in my soul
你用洞悉我灵魂深处的双眼
Shadows on the hills
看到山上的阴影
Sketch the trees and the daffodils
画上树和水仙花
Catch the breeze and the winter chills
捕捉微风和冬天的寒意
In colors on the snowy linen land
亚麻色的大地覆盖着积雪
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
Starry, starry night
繁星之夜
Flaming flowers that brightly blaze
耀眼的花朵闪烁光芒
Swirling clouds in violet haze
流转的云朵散发紫罗兰的朦胧
Reflect in Vincent's eyes of china blue
在文森特中国蓝的眼睛中闪耀
Colors changing hue
颜色在变
Morning fields of amber grain
清晨琥珀色的田野
Weathered faces lined in pain
痛苦中风化的脸
Are soothed beneath the artist's loving hand
在艺术家爱之手下减轻痛苦
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们从来不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
For they could not love you
因为他们不能爱你
But still, your love was true
但你的爱是真挚的
And when no hope was left inside
当内心再也没有希望
On that starry, starry night
在布满星星的夜晚
You took your life as lovers often do
你像情人们常做的那样结束自己的生命
But I could've told you, Vincent
我本应告诉你，文森特
This world was never meant For one as beautiful as you
这个世界从来就不象你一样美
Starry, starry night
繁星之夜
Portraits hung in empty halls
肖像挂在空荡荡的大厅
Frameless heads on nameless walls
无名的墙上挂着无框的头像
With eyes that watch the world and can't forget
凝视这个世界，难以忘却
Like the strangers that you've met
就像你遇见的陌生人
The ragged men in ragged clothes
褴褛的衣服粗鲁的人
The silver thorn, a bloody rose
血红色玫瑰、银色荆棘
Lie crushed and broken on the virgin snow
破碎地躺在无痕的雪地上
Now I understand
现在我明白了
What you tried to say to me
你想对我说什么
And how you suffered for your sanity
你如何承受天赋的折磨
And how you tried to set them free
你如何试图释放你的才华
They would not listen; they did not know how
他们从来不听，他们不曾知道
Perhaps they'll listen now
也许现在他们会听
Malaysia to see 5.7% GDP growth in 2008
The following statement was picked from The Edge Daily dated 21.9.2007 by Ellina Badri. Hopefully it will be on the track.
KUALA LUMPUR: The Malaysian economy is expected to grow at a rate of 5.7% next year, although it must face the key challenge of a weakening US economy.
At an economic briefing here yesterday, Standard Chartered Bank regional head of economic research, Southeast Asia, Cheung Tai Hui said the GDP growth rate was “respectable, above-trend and one of the faster growing rates in the region” even though it was lower than the government’s targeted 6% to 6.5%.
He said the economy was exposed to trends in the US — as exports to the country represented 20% of GDP in 2006/2007 — although domestic demand was seen to be strong enough to cushion the weakening US economy.
“Our view is that the US economy will weaken in the next 12 to 18 months as the three key pillars of the economy — the housing market, the stock market and the labour market — are seen to be weakening,” he said.
Cheung also said Malaysia’s headline growth remained steady, and the softening electrical and electronics (E&E) exports were expected to pick up moderately at the end of the year and early 2008 although the “biggest worry” concerning exports was that US capital spending would decelerate.
Additionally, he said while inflation concerns presented a further risk to the economy preventing the central bank from cutting interest rates, it did not pose a downside risk to growth.
With rising inflation — reflecting strong demand and higher wages — Standard Chartered has raised its 2008 inflation forecast to 2.5%, he said.
On the ringgit, Cheung said the currency was expected to strengthen to between RM3.40 and RM3.450 to the US dollar at the end of 2007, and further to RM3.30 at end-2008.
Malaysia’s current account surplus, which saw continued foreign currency inflows, coupled with sustained investor interest, would contribute to the strong currency, he said.
The current US$80 (RM280) per barrel oil price was also not seen as sustainable due to slowing global growth and prices were expected to fall, he added.
KUALA LUMPUR: The Malaysian economy is expected to grow at a rate of 5.7% next year, although it must face the key challenge of a weakening US economy.
At an economic briefing here yesterday, Standard Chartered Bank regional head of economic research, Southeast Asia, Cheung Tai Hui said the GDP growth rate was “respectable, above-trend and one of the faster growing rates in the region” even though it was lower than the government’s targeted 6% to 6.5%.
He said the economy was exposed to trends in the US — as exports to the country represented 20% of GDP in 2006/2007 — although domestic demand was seen to be strong enough to cushion the weakening US economy.
“Our view is that the US economy will weaken in the next 12 to 18 months as the three key pillars of the economy — the housing market, the stock market and the labour market — are seen to be weakening,” he said.
Cheung also said Malaysia’s headline growth remained steady, and the softening electrical and electronics (E&E) exports were expected to pick up moderately at the end of the year and early 2008 although the “biggest worry” concerning exports was that US capital spending would decelerate.
Additionally, he said while inflation concerns presented a further risk to the economy preventing the central bank from cutting interest rates, it did not pose a downside risk to growth.
With rising inflation — reflecting strong demand and higher wages — Standard Chartered has raised its 2008 inflation forecast to 2.5%, he said.
On the ringgit, Cheung said the currency was expected to strengthen to between RM3.40 and RM3.450 to the US dollar at the end of 2007, and further to RM3.30 at end-2008.
Malaysia’s current account surplus, which saw continued foreign currency inflows, coupled with sustained investor interest, would contribute to the strong currency, he said.
The current US$80 (RM280) per barrel oil price was also not seen as sustainable due to slowing global growth and prices were expected to fall, he added.
Some history on Moon cake - Lantern Festival
Mooncakes are also known as ``reunion cakes'' as family members gather to partake of the sweet confectionery.
Mooncakes are eaten throughout the month before the actual festival day. They make meaningful gifts for kith and kin.
In the evenings, children gleefully carry lanterns of all shapes and sizes. The bearing of lanterns and the origin of mooncakes date back to a 14th century revolt by the Chinese against the Mongols.
In 1376, the Chinese overthrew the Yuan (Mongol) dynasty (1280-1376) in an uprising brilliantly hatched by lantern-bearing messengers who delivered mooncakes with hidden messages.
Legend has it that the time and place of the revolution were concealed in the mooncakes sent to friends and relatives. The midnight massacre of the Mongols was led by Liu Bowen.
Today, altars are set up outside the house facing the full moon on the night of the festival. The ``harvest moon'' is at its brightest and roundest this time of the year.
Offerings of mooncakes, mini yams and water caltrops are laid out for Chang-Er, also known as the Moon Lady. Round fruits are offered as the shape symbolises the fullness of the moon and family harmony.
Some women peel pomelos and mini yams in the belief that they will have a flawless complexion. Others pray to the moon goddess hoping to be blessed with good husbands.
The classic tale of Chang-Er, the beautiful moon goddess, is associated with the Mooncake Festival. Pictures of her in a flowy gown floating to the moon commonly adorn mooncake boxes.
Folklore has it that she was married to the divine archer Hou Yi, who shot nine out of 10 suns that were causing havoc. For his deed, the Queen Mother of the West gave him the elixir of life. Chang-Er stole her husband's potion of immortality, drank it and found herself floating to the moon. There she lives out her days in the cold lonely moon palace with a furry rabbit for companion.
A slightly different version says that Hou Yi was a tyrannical ruler. Chang-Er drank the magic potion to prevent him from becoming immortal.
Another myth tells of woodcutter Wu Gang who was banished to the moon and became Chang-Er's friend and servant. The Jade Emperor punished Wu Gang by ordering him to cut down a cassia tree. It was a task that could never be completed as the tree is immortal and would grow back each time it is felled.
Moon worship has its roots in China's Sung (960-1127), Ming (1368-1644) and Qing (1644-1911) dynasties, when commoners and emperors alike observed the practice.
Imperial chefs made mooncakes over a metre in diameter with designs of the moon goddess, the moon palace and cassia tree. Ordinary mooncakes were several centimetres in diameter.
During the Qing dynasty, mooncakes were renamed ``moonflowers.'' In Mandarin, the word yuebing for mooncakes sounds like ``monthly sickness'' (or menstruation).
The Empress Dowager Ci Xi staged rituals for an elaborate moon festival lasting from the 13th through the 17th day of the eighth lunar month.
Some Chinese families today still stay up late to observe the occasion eating mooncakes, sipping tea and gazing at the beautiful moon. It is regarded the perfect moment if someone catches the moon's reflection in the centre of his or her teacup.
Mooncakes are eaten throughout the month before the actual festival day. They make meaningful gifts for kith and kin.
In the evenings, children gleefully carry lanterns of all shapes and sizes. The bearing of lanterns and the origin of mooncakes date back to a 14th century revolt by the Chinese against the Mongols.
In 1376, the Chinese overthrew the Yuan (Mongol) dynasty (1280-1376) in an uprising brilliantly hatched by lantern-bearing messengers who delivered mooncakes with hidden messages.
Legend has it that the time and place of the revolution were concealed in the mooncakes sent to friends and relatives. The midnight massacre of the Mongols was led by Liu Bowen.
Today, altars are set up outside the house facing the full moon on the night of the festival. The ``harvest moon'' is at its brightest and roundest this time of the year.
Offerings of mooncakes, mini yams and water caltrops are laid out for Chang-Er, also known as the Moon Lady. Round fruits are offered as the shape symbolises the fullness of the moon and family harmony.
Some women peel pomelos and mini yams in the belief that they will have a flawless complexion. Others pray to the moon goddess hoping to be blessed with good husbands.
The classic tale of Chang-Er, the beautiful moon goddess, is associated with the Mooncake Festival. Pictures of her in a flowy gown floating to the moon commonly adorn mooncake boxes.
Folklore has it that she was married to the divine archer Hou Yi, who shot nine out of 10 suns that were causing havoc. For his deed, the Queen Mother of the West gave him the elixir of life. Chang-Er stole her husband's potion of immortality, drank it and found herself floating to the moon. There she lives out her days in the cold lonely moon palace with a furry rabbit for companion.
A slightly different version says that Hou Yi was a tyrannical ruler. Chang-Er drank the magic potion to prevent him from becoming immortal.
Another myth tells of woodcutter Wu Gang who was banished to the moon and became Chang-Er's friend and servant. The Jade Emperor punished Wu Gang by ordering him to cut down a cassia tree. It was a task that could never be completed as the tree is immortal and would grow back each time it is felled.
Moon worship has its roots in China's Sung (960-1127), Ming (1368-1644) and Qing (1644-1911) dynasties, when commoners and emperors alike observed the practice.
Imperial chefs made mooncakes over a metre in diameter with designs of the moon goddess, the moon palace and cassia tree. Ordinary mooncakes were several centimetres in diameter.
During the Qing dynasty, mooncakes were renamed ``moonflowers.'' In Mandarin, the word yuebing for mooncakes sounds like ``monthly sickness'' (or menstruation).
The Empress Dowager Ci Xi staged rituals for an elaborate moon festival lasting from the 13th through the 17th day of the eighth lunar month.
Some Chinese families today still stay up late to observe the occasion eating mooncakes, sipping tea and gazing at the beautiful moon. It is regarded the perfect moment if someone catches the moon's reflection in the centre of his or her teacup.
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