I will retire if two-year ban, says Chong Wei

Posted:  January 26, 2015 MYT 5:10:00 PM 

PETALING JAYA: National shuttler Datuk Lee Chong Wei (pix) will retire from badminton if he is given a two-year suspension for doping.

“If in the end I am suspended for two years, then I will not pursue my badminton career afterwards,” he said in an interview with BBC.

The 32-year-old said he would return to competitive badminton if his appeal is successful.

Chong Wei was tested positive for the banned substance dexamethasone at the World Championships in Copenhagen last August.

He is now under suspension and faces a maximum two-year ban. His appeal would be heard in the first week of next month.

Chong Wei said it had been a painful process waiting for his appeal to be heard. He said he had been sad in the weeks after he tested positive as he had never been in such a situation before.

“Throughout the ordeal a lot of my fans from around the world supported me and hoped that I would compete again,” said the two-time Olympic silver medalist.

He hoped that the Badminton World Federation (BWF) would consider that this was the first time he had failed a drugs test over the course of his 15-year-career.

“I only found about this substance after I tested positive for it. So now I have to face the consequences,” he said.

Chong Wei has now slipped to third in the men’s world badminton rankings.

Source: http://www.thestar.com.my/News/Nation/2015/01/26/lee-chong-wei-to-retire-if-doping-positive/

The Star - Malaysia

Malaysia Airline System (MAS): Our website not hacked, all data secure

Posted: 26 January 2015 2:41 PM, The Malaysian Insider

The front page of the Malaysia Airlines website showing the message from 'Cyber Caliphate', earlier today. – January 26, 2015.

Loss-making Malaysia Airlines (MAS) today assured its customers that its website was secure, after a message posted by an entity claiming to be from the Islamic State of Iraq and Syria (Isis) militant group appeared on the flag carrier's website front page.

The national carrier said the incident was not hacking, but users were redirected to a hacker website when they keyed in the www.malaysiaairlines.com due to a compromise on its Domain Name System, or DNS, which translates a domain name to the Internet Protocol (IP) address.

Hundreds of Malaysia Airlines passengers complained that it was hard to access details of bookings due to the compromised DNS.

“Malaysia Airlines assures customers and clients that its website was not hacked and this temporary glitch does not affect their bookings and that user data remains secured,” it said in a statement, adding that the system would be fully recovered by today.

MAS said its web servers are now intact and it had reported the case to CyberSecurity Malaysia as well as the transport ministry.

This morning, the national airline's website showed the words “Plane not found”, and was signed off as “Cyber Caliphate”, as a rap song played in the background.

The website title was also changed to “Isis will prevail”.

It is understood that only those using Telekom Malaysia's Unifi service were redirected to the page.

An AFP report said the hackers claimed to be from the "Lizard Squad", a group known for previous denial-of-service (DOS) attacks.

The Lizard Squad is a group of hackers that has caused havoc in the online world before, taking credit for attacks that took down the Sony PlayStation Network and Microsoft's Xbox Live network last month.

Isis, an extremist Sunni Muslim group, has seized large swathes of Syria and Iraq, where it has declared an Islamic "caliphate".

It has drawn thousands of fighters from across the globe to its anti-Western cause, and shocked the world with its video-taped executions of journalists and other foreigners it has captured, the most recent being a Japanese security contractor it claimed Sunday to have beheaded.

A second Japanese captive being held by the militants has also been threatened with execution.

The group, which uses social media in recruiting and spreading its message, is believed to harbour ambitions of launching a cyber-war against the West.

It is unclear why MAS was targeted but the hacking group said on its Twitter feed that it was "going to dump some loot found on malaysiaairlines.com servers soon". – January 26, 2015.

Source: http://www.themalaysianinsider.com/malaysia/article/our-website-not-hacked-all-data-secure-says-mas

Most liveable city for expatriates, KL ranked 16th in Asia

Posted: 22 JANUARY 2015 @ 9:30 PM

SINGAPORE: Singapore remains the most liveable city in Asia and the world for expatriates while Hong Kong slips to the 33rd place from 17th in the global ranking of expatriate living conditions published by ECA International.

In Asia, Kuala Lumpur and George Town both ranked 16th in Asia and 118th in the world, while Johor Baharu 21st in Asia and 126th in the world.

In 2014, Kuala Lumpur was 16th, George Town (17th) and Johor Baharu (21st) in Asia.

ECA International regional director - Asia Lee Quane said: “Good air quality, solid infrastructure, decent medical facilities, low crime and health risks have contributed to Singapore maintaining its position at the top of the global ranking for quality of living for Asian assignees.

“The fact that Singapore comes out top time and time again does make it a very attractive proposition for companies looking to set up in offices the region, particularly when conditions in Hong Kong (Singapore’s archival for the past few years) have deteriorated a little.”

Updated annually, ECA assesses 450 locations worldwide on the quality of living based on climate; availability of health services; housing and utilities; isolation; access to a social network and leisure facilities; infrastructure; personal safety; political tensions, and air quality.

Singapore is followed by Sydney and Adelaide in the ranking for Asian assignees.

In mainland China, Shanghai, ranked 110th globally, is China’s most liveable city followed by Beijing (122nd).

Scores have remained steady across most Chinese locations but Chongqing and Shenzhen saw the highest improvement over the year.

In India, Bangalore, ranked 171st globally scores most favourably followed by Mumbai and Chennai. New Delhi (204th) is the least liveable.

Along with Beijing, Delhi has the worst score for air quality not just in Asia but globally.

In Thailand, the declaration of martial law has led to a worsening in socio-political scores for locations there, plummeting Bangkok and Chang Mai both to the 112th spot, down from last year’s 108th. --Bernama

Source: http://www.nst.com.my/node/70549

NST - Malaysia

World slump hits China’s luxury retail segment

Posted: January 22, 2015 08:10 PM

BEIJING, Jan 22 — China’s luxury market shrank last year, a global consultancy said, attributing the decline; the first it has detected to a national anti-corruption campaign, slowing economic growth and changing consumer tastes.

Sales of luxury goods in mainland China fell one percent to 115 billion yuan (RM66.5 billion) in 2014 compared to a year earlier, Bain & Company said in an annual report.

The consulting firm, which has been surveying the market since 2000, said it was the first time the industry had contracted.

China's luxury segment is expected to take a hit this year as the world economy contracts, January 22, 2015. — Reuters pic

China has become an ever more important destination for luxury goods manufacturers as the ranks of its wealthy have been swelled by a decades-long boom.

Swiss giant Richemont, the world’s second-largest maker of luxury products, said in November that its 2014/2015 first half net profit dropped 23 per cent due to weaker demand in China.

Bain’s China Luxury Market Study said the overall decline last year was because of the “continued impact of anti-corruption and frugality campaigns undermining ‘luxury gifting’”.

Slowing sales of high-end watches, menswear and leather goods contributed the most to the decline, the consultancy added.

Chinese Communist Party chief Xi Jinping has overseen a much-publicised anti-corruption drive since taking power in late 2012, targeting high-level “tigers” and low-level “flies”.

A parallel austerity campaign has also has sought to curtail extravagant gift-giving, banquets and other excesses in the ruling party and government.

Bain added that China’s slowing economic growth was “exacerbating the issue”.

China’s economy expanded 7.4 percent in 2014, its weakest pace in 24 years, official data showed Tuesday, and authorities are emphasising a “new normal” as they retool the country’s growth model to one they hope will be more sustainable.

The consulting firm also stressed that China’s luxury market is becoming more diverse.

“The field of luxury brands in China is breaking wide open,” Bruno Lannes, the Bain partner who wrote the report, said in a statement.

“Brands’ future positioning and popularity within the luxury market hinges on their willingness to revamp concepts to serve the needs of the increasingly sophisticated and well informed Chinese consumers, while managing the growing diversity of sales channels, such as daigou,” Lannes said.

Daigou is a Chinese word for personal shoppers abroad who purchase luxury goods and send them to customers in China.

Bain said that the daigou market increased in 2014 to an estimated 55 to 75 billion yuan, led by cosmetics, leather goods, watches and jewellery.

The consultancy said that Chinese now purchase 70 per cent of luxury brands either overseas or through daigou agencies. — AFP

Source: http://www.themalaymailonline.com/money/article/world-slump-hits-chinas-luxury-retail-segment
The Malay Mail Online - Malaysia

Ex-Miss Malaysia rapped for seeking RM739,000 holiday fund in divorce from tycoon Khoo

Posted: January 22, 2015 02:38 PM

KUALA LUMPUR, Jan 22 ― A UK court has criticised Malaysian tycoon Tan Sri Khoo Kay Peng’s estranged wife for demanding £135,000 (RM739,000) for holidays annually in their billion-ringgit divorce.

UK paper Daily Mail reported yesterday that Pauline Chai, a former beauty queen, has asked for a monthly “interim maintenance” allowance of £85,000 to cover her living expenses ― which amounts to RM5.6 million annually ― that includes the £135,000 annual sum for holidays.

"I am unable to accept the picture which she paints of a somewhat frugal existence,” Justice Roberts, judge in the Family Division of the London High Court, was quoted saying.

“I view the sums claimed as being in excess of what she is likely to spend while she is so deeply enmeshed in this ongoing litigation," she added.

Former beauty queen Pauline Chai (centre) has asked for a monthly 'interim maintenance' allowance of £85,000 (RM463,500) to cover her living expenses ― which amounts to RM5.6 million annually ― that includes the £135,000 annual sum for holidays. 

Roberts reportedly described the £85,000 monthly allowance asked by Chai as excessive and refused to grant her demand, deciding instead that Khoo, who is the non-executive chairman of international brand Laura Ashley, should pay his ex-wife £45,000 a month.

Chai, who was Miss Malaysia in 1969, had reportedly said the £85,000 monthly allowance was needed to cover her "needs", which included chauffeurs, first-class flights and five-star hotel suites for holidays.

Chai's lawyers had initially claimed that their client had suffered "reductions" after her divorce, claiming she had to sell her jewellery and even forego trips to her hairdresser in central London.

Her budget for her hair alone was £450 a month, the paper reported.

Roberts, however, said granting Chai £45,000 for monthly expenses was "fair" since the ex-beauty queen was already given an interim lump sum of £1.85 million.

The judge also noted that Chai had spent £950,000 on “living expenses and outgoings” alone between May 2013 and February 2014.

UK media reported last October Chai as telling the English courts that she has accumulated some 1,000 pairs of shoes in the 43 years she has been married to Khoo.

Khoo and Chai are locked in an acrimonious billion-ringgit divorce battle, with the latter fighting to have the trial heard in the UK where she stands to gain half of the magnate’s estimated £400 million fortune, possibly the largest divorce settlement in British history.

Khoo, however, is applying to have the case heard in Malaysia, arguing that they were married in Malaysia where he also maintains his official residence. Khoo would risk losing less of his wealth if the trial is held here.

The Kuala Lumpur High Court ruled last November that it has jurisdiction to hear the divorce, contradicting an English court's earlier ruling that England was the more appropriate forum for the dispute. 

Source: http://www.themalaymailonline.com/malaysia/article/ex-miss-malaysia-rapped-for-seeking-rm739000-holiday-fund-in-divorce-from-t

The Malay Mail Online - Malaysia

Malaysian IS detainees to be “quarantined” in prison: Zahid

Posted: BY ILI LIYANA MOKHTAR - 22 JANUARY 2015 @ 2:46 PM

PUTRAJAYA: Those detained for being involved in Islamic State (IS) militant activities will be separated from other inmates in jail, Home Minister Datuk Seri Dr Ahmad Zahid Hamidi said today.

The move is to ensure that these detainees do not influence other inmates to join the militant group or to spread their skewed ideologies.

Home Minister Datuk Seri Dr Ahmad Zahidi receives a courtesy call from United States Bureau for East Asian and Pacific Affairs Assistant Secretary Daniel R. Russel (left) at Defence Ministry’s headquarters. Pix by AHMAD IRHAM MOHD NOOR

“Those detained for being involved in IS will be placed in the Tapah and Bentong prisons. They will be separated from the others as there have been reports of them spreading their ideology even in jail," he told reporters after a courtesy visit from the United States Bureau for East Asian and Pacific Affairs Assistant Secretary Daniel R. Russel at his ministry here.

Zahid also said the ministry had employed several religious experts to counsel detained militants.

"These experts would help those detained to get back on track and help them see that the ideology that they subscribe to is not part of Islam," he said.

He added that currently 120 Malaysians have been detained for being involved in IS militant activities and 67 Malaysians who were believed to be involved in IS were still in Syria

On the Malaysian militants who had returned, Zahid said some had expressed their regret for being part of the IS.

“They felt cheated as life there was not how they expected it to be," he said.

Source: http://www.nst.com.my/node/70467

NST - Malaysia

Paris Hilton excited to visit Malaysia, can't wait to party at Empire City

Posted: Thursday January 22, 2015 MYT 7:05:00 PM BY RAHIMY RAHIM

PETALING JAYA: Hotel heiress and American socialite Paris Hilton will be arriving in Malaysia to perform at the Empire City on Friday. 

She is scheduled to join South Korean pop group 2AM, Black Eyed Peas member Taboo and Australian tenor Mark Vincent at Damansara Perdana.

Paris posted on her Instagram account on Thursday that this will be her first visit to Malaysia. 

“Bye Dubai! Taking off to Kuala Lumpur! Can’t wait to go to Malaysia for my first time! 

“Can’t wait to perform at The #PartyofTheCentury at @EmpireCity this Friday in Kuala Lumpur,” said Paris. 

She flew from Milan to open the Just Cavalli Men’s Fashion week show where the reality television star played as a DJ on Jan 17. 

The exclusive 1920s-themed event will showcase Empire City’s latest development and attractions. 

A screengrab of Paris Hilton taken from her Instagram account. 

Empire City is an integrated development hub which aims to be the ultimate location for business and leisure. 

The 232,000sq m area includes eight corporate towers and office suites, three international five-star hotels and a cinema-themed hotel.

The preview event will also unveil Empire City’s unique attractions such as the world’s first multi-projection theatre as well as an Olympic-size skating rink.

Source: http://www.thestar.com.my/News/Nation/2015/01/22/Paris-Hilton/

The Star - Malaysia

Businessman, wife charged with cheating victims of RM6.7m

Posted: January 22, 2015 10:13 PM

KUALA LUMPUR, Jan 22 — A businessman with the title ‘Datuk’ pleaded not guilty at the Sessions Court here today to 34 charges of cheating 14 individuals of RM6.7 million five years ago.

Ahmad Sabri Abdul Manaf, 64, was accused of deceiving the victims into believing that he could made investments related to Malaysia Airlines (MAS), particularly in the sale and purchase of air tickets in conjunction with the Formula One (F1) championship in Sepang in April 2011.

Ahmad Sabri was also accused to have misled the victims into believing that they would enjoy profit of between 10 and 20 per cent from the investment, which prompted them to hand over RM6.7 million to him.

He was alleged to have committed all the offences at several locations in the city between April 2010 and Feb 2011.

Judge Mat Ghani Abdullah allowed Ahmad Sabri bail of RM500,000 in one surety and ordered him to surrender his passport to the court and report to the Hulu Kelang police station on the first week of every month.

Prosecuting officer from Bank Negara Malaysia Mohd Shukri Ahmad mansor prosecuted, while Ahmad Sabri was represented by lawyer Afifuddin Hafifi.

Meanwhile, Ahmad Sabri’s wife, Felinnia Saruti Sadri, 37, was charged at another Sessions Court with 21 counts of cheating, involving RM5.2 million, in same cases of her husband.

She was accused of committing the offence during the same period and at the same locations.

Judge Abdul Rashid Daud allowed her bail of RM300,000 in one surety and ordered her to surrender his passport to the court and report to the nearest police station on the first week of every month.

February 23 was set for mention of their cases. — Bernama

Source: http://www.themalaymailonline.com/malaysia/article/businessman-wife-charged-with-cheating-victims-of-rm6.7m
The Malay Mail Online - Malaysia 

QZ8501: Six more bodies recovered

Posted: 22 JANUARY 2015 @ 3:38 PM

PANGKALAN BUN: Indonesian divers have retrieved six more bodies from waters around the fuselage of the Indonesia AirAsia jetliner that crashed in December in seas near western Indonesia.

Suryadi Bambang Supriyadi, operational director of the National Search and Rescue Agency, said the bodies were being flown to Pangkalan Bun, the nearest city to the crash site.

Indonesian soldiers and rescuers carry a coffin bearing the remains of "body number 50" recovered on Jan 19. Today, six more bodies were recovered. AFP Photo.

So far 59 bodies have been recovered from Indonesia AirAsia Flight QZ8501, which plunged into the Java Sea with 162 people while en route from Surabaya, Indonesia’s second-largest city, to Singapore.

Rescuers are still struggling to lift the fuselage and what appears to be the plane’s cockpit from the seabed at a depth of 30 meters (100 feet).--AFP

Source: http://www.nst.com.my/node/70477

NST - Malaysia

Customs (Malaysia) stub out sales of illegal cigs

Posted: January 22, 2015 MYT 12:00:00 AM 

BATU PAHAT: Three Indian nationals – one without travel documents – were arrested during a Customs raid on shops selling smuggled cigarettes.

Enforcement officers found the contraband at a sundry shop in Taman Melewar 2 here and detained the trio.

The one without passport pleaded to be released, claiming that he was merely visiting his friends at the shop but he was not let off the hook.

In Taman Beroleh here, a pregnant local woman, her immigrant husband and a foreign worker were arrested after Customs officers found illegal cigarettes at their mini market.

Illegal goods: Customs officers taking out the contraband cigarettes found hidden at a sundry shop in Taman Melewar, Batu Pahat.

In George Town, two retailers were arrested following Customs raids at their outlets in Perak Road and Mutiara Heights.

The owner of the sundry shop in Perak Road, in his 50s, smiled and appealed to pressmen not to take his photograph as he was being led away by the raiding team.

About 30 cartons of illegal John, Suria and Gurang Garam cigarettes were seized from the two outlets.

Over the past three days, Customs enforcement teams conducted raids in several states on shops suspected of selling illicit cigarettes.

Three other retailers were arrested in Kelantan, Selangor and Negri Sembilan.

The Customs Department launched Ops Outlet last March to combat the illegal cigarette trade.

Under the operation, officers raided more than 8,000 outlets nationwide, seized more than RM11.72mil worth of smuggled cigarettes and arrested more than 1,000 retailers.

Those with information on illegal cigarettes can call 1800 88 8855.

Source: http://www.thestar.com.my/News/Nation/2015/01/22/Customs-stub-out-sales-of-illegal-cigs-Over-1000-held-in-raids-across-country/

The Star - Malaysia - BY KATHLEEN ANN KILI AND ROYCE TAN

Najib (Malaysia PM): Malaysia’s economic fundamentals remain strong

Posted: BY MUSTAPHA KAMIL - 22 JANUARY 2015 @ 9:54 PM

DAVOS: Prime Minister Datuk Seri Najib Razak today spoke to captains of large local and foreign corporations here to assure them of Malaysia's economic future, fresh from announcing pre-emptive measures to ensure Malaysia's continued growth amid the weak global economy.

Speaking at a business luncheon organised by Khazanah Nasional, Invest KL and the Malaysian Industrial Development Authority (MIDA), Najib said despite Malaysia anticipating 2015 to be a challenging year, the country's economic fundamentals remain strong, underpinned by comfortable levels of external reserves, low external debt, low unemployment and healthy inflows of foreign direct investments.

Najib arrived here yesterday for the 45th edition of the World Economic Forum (WEF).

The luncheon was attended by about 100 corporate captains and government officials, of which 55 were foreign-based giants.

Najib also linked Malaysia's resilience to the Asean region, saying the 10-member regional group which Malaysia chairs this year was a potentially viable investment gateway to greater Asia.

Prime Minister Datuk Seri Najib Razak holds a discussion with his Dutch counterpart Mark Rutte in Davos, Switzerland. Pix source: Prime Minister’s Office.

In recent years, the rise of Asia has inevitably been one such topic for discussion. The number of Chinese and Indian delegates at the WEF has more than quadrupled since the millennium.

He said Southeast Asia is emerging as a new economic power as the region is moving towards becoming an economic union unlike seen before.

Najib said as Chair of Asean this year, Malaysia will play a key role in forging the grouping's future.

"We will do our part to build a stronger, more prosperous and more open Southeast Asia," he said.

Najib said the ingredients towards a successful Asean are all present, and so is the will.

“We believe that an economically-integrated Asean will benefit the entire region and as a founding member, we have strong connections within the region and with the rest of Asia," he said.

In the coming months, he said Malaysia will work closely with other Asean members to ensure the grouping delivers on key initiatives, especially its establishment as a single regional community and production base and declaration of Asean's post-2015 vision.

For Malaysia, he said the nation has always a good story to tell and that it has been realistic with and confident of its plans. Najib quoted the ongoing Economic Transformation Programme as one which will bring Malaysia's economy to a developed nation status.

Najib said despite the adjustments he announced in Putrajaya on Tuesday, major projects will continue to be pursued. They include the Kuala Lumpur MRT project, the Kuala Lumpur-Singapore high speed rail project and the Pengerang integrated petrochemical complex in Johor.

Najib made it clear that Malaysia was well prepared to stand firm in the face of global economic headwinds.

Prime Minister Datuk Seri Najib Razak posted a selfie of him and Mark Rutte on his Twitter account.

Source: http://www.nst.com.my/node/70552

NST - Malaysia

Five women, eight men charged over sex and drug party ( Source: The Star Online - Malaysia)

Posted:  January 17, 2015 MYT 12:00:00 AM 

Court date: Police officers escorting some of the accused involved in the sex and drug party to the magistrate’s court in Klang.

KLANG: Five women and eight men were slapped with multiple charges each in a magistrate’s court for allegedly participating in a sex and drugs party.

If found guilty, they could be sentenced to long jail terms or hefty fines, or both. They were among 29 people arrested by police in the wee hours of Jan 11 in a hotel here.

In the dock were Nurul Amyra Yemsi, 25; Nur Amaliena Shahrul, 20; Nur Amielda Ilyna Hanip, 20; Azlina Mat Hassan, 22; Zahrotul Jannah Victor, 20; Nur Mohammad Raihan Abdullah Sani, 25; Nor Ariffin Jailani, 31; Mohd Zularfi Ellias, 22; Abdul Halim Meor, 29; Muhammad Hanief Jaafar, 28; Muhammad Zhafran Abdul Malik, 24; Mohammad Khaibun Naim Zubair, 23; and Muhammad Fikree Kaharuddin, 23.

They face three charges each of having in their possession 0.68gm of Ketamine, 0.75gm of Eremine-5 tablets and 5.01gm of Ecstasy pills.

They were charged under Section 12(2) of the Dangerous Drugs Act 1952, read together with Section 34 of the Penal Code, and the offence is punishable under Section 12(3) of the Act.

If found guilty, they will be liable to a jail term of up to five years and a fine of up to RM100,000, or both, for each of the three charges.

They were also charged under Section 30(3) of the Poisons Act 1952 for possession of five litres of what is believed to be ketum juice.

Under Section 30(5) of the Act, the punishment if found guilty is up to five years jail or a fine of up to RM10,000, or both.

Deputy Public Prosecutor Rizal Azani Zainal Adzam asked the court to set bail at RM8,000 for each of the first three charges and RM4,000 for the fourth charge.

Magistrate Maria Maran Abdullah @ Lucia Muda Maran set bail at RM6,000 in one surety for each of the first three charges and RM2,000 in one surety for the fourth charge.

It could not be confirmed at press time if the accused posted bail.

The court fixed Feb 25 for the case to be mentioned.

Source: http://www.thestar.com.my/News/Nation/2015/01/17/Five-women-eight-men-charged-over-sex-and-drug-party/

The Star - Malaysia

World's No.1 oilfield services provider slashes 9,000 jobs as oil prices plunges (Source: The Star - Malaysia)

Posted: 17 January 2015
Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices.

The company said it took charges amounting to $1.77 billion in the fourth quarter including impairment charges related to its seismic business, Venezuela currency devaluation and job cuts.

Schlumberger had said last month that it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels.

"They did say they would be cutting jobs, but the magnitude of them is definitely a shocker," Philip Van Deusen, an analyst with Tigress Financial Partners LLC, told Reuters.

A slew of global oil majors such as BP Plc and ConocoPhillips have cut jobs due to a nearly 60 percent slump in oil prices over the past six months. Brent crude closed at $47.67 on Thursday.

"If oil prices stay at this level, none of these companies would just be able to adjust with one round of workforce reductions," Robin Shoemaker, analyst with KeyBanc Capital Markets, told Reuters.

Schlumberger's customers - oil producers - have slashed capital budgets for 2015 and reduced the number of rigs.

The Houston-based company said capital expenditure, excluding multiclient and project management investments, is expected to be $3 billion for 2015. Capex for 2014 was $4 billion (3 billion pounds).

"In this uncertain environment, we continue to focus on what we can control.." Chief Executive Paal Kibsgaard said.

Schlumberger, which provides drilling technology and equipment, reported a fourth-quarter profit that beat Wall Street estimates for the tenth straight quarter.

Revenue rose 6 percent to $12.64 billion, mainly helped by an 18.5 percent jump in revenue from North America.

Net income attributable to the company fell to $302 million, or 23 cents per share, in the fourth quarter ended Dec. 31, from $1.66 billion, or $1.26 per share, a year earlier.

On an adjusted basis, the company earned $1.50 per share, beating the average analyst estimate of $1.45 per share, according Thomson Reuters I/B/E/S.

Shares of the company closed at $76.63 on the New York Stock Exchange.- Reuetrs

Source: http://www.thestar.com.my/Business/Business-News/2015/01/17/Schlumberger-to-slash-9000-jobs-as-oil-prices-plunge/?style=biz

The Star - Malaysia

Jack Ma fund, others to invest $1.6 billion in China drugmaker Baiyunshan

Posted: Reuters Jan 13, 2015, 01.28PM IST

SHANGHAI: Alibaba Group Holding Ltd founder Jack Maand other investors will pump up to 10 billion yuan ($1.61 billion) into Chinese drugmaker Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd to help fuel its online expansion.

Yunfeng Capital, an investment vehicle co-founded by Ma, will invest 500 million yuan via a private placement, Baiyunshan said in a statement late on Monday. China Life Insurance Co Ltd will invest around 2.5 billion yuan.

(Yunfeng Capital, an investment…)

Baiyunshan said the online drug market was worth 4.3 billion yuan in 2013, but only accounted for a fraction of the wider medicine market. "It's a long way below the US level of around 30 per cent. So there's plenty of room to grow," Baiyunshan said.

Baiyunshan's shares rose 10 per cent in Shanghai on Tuesday, the maximum permitted amount, and around 19 per cent in Hong Kong.

Reuters reported last week that China will allow online sales of prescription drugs as early as this month, a policy that will open up the country's huge drug market to online pharmacy operators and retail chains.

Baiyunshan, which had sales of 17.6 billion yuan in 2013, is best know for a treatment known as "Golden Spear", a Viagra rival, and its hugely popular Wanglaoji herbal tea beverage.

The drugmaker said the capital would be used to fund research and development, help meet increasingly tough regulations as well as help the firm grow online. It will also help refinance the firm's beverage unit, which makes Wanglaoji.

E-commerce giant Alibaba, which analysts say controls 40 per cent of the online medicine market, partnered with Yunfeng last year to buy Internet drug platform CITIC 21CN. That has since been renamed Alibaba Health Information Technology Ltd.

Alibaba did not immediately respond to requests for comment.

Other investors in the private placement included Guangzhou Pharmaceuticals Holdings Ltd and the Guangzhou state assets development body.

Wal-Mart Stores Inc's online platform Yihaodian, JD.com Inc and online pharmacy 800pharm.com are also looking to take a chunk of the online pharmacy market.

Source: http://articles.economictimes.indiatimes.com/2015-01-13/news/58024211_1_drug-market-online-sales-medicine-market

economictimes - indiatimes

Twenty-one dead, one still missing after tugboat sinks in China’s Yangtze River (Source: The Star Online - Malaysia)

Posted:  January 17, 2015 MYT 12:35:00 PM

Search and rescue team operate on an overturned tugboat in the Yangtze River, Jingjiang city, Jiangsu province, China, 17 January 2015. - EPA

BEIJING: Twenty-one people have been confirmed dead after a tugboat sank on a trial voyage on the Yangtze, China’s longest river, state media reported Saturday.

The vessel was raised Saturday, 40 hours after it sank while undergoing testing with 25 people, including eight foreigners, aboard in the eastern province of Jiangsu on Thursday afternoon, state media said.

Three people have been rescued, Xinhua news agency said, with one still missing. All those on board were male.

Rescuers were still searching the cockpit of the newly-built boat and along the river for the missing person, the report said, without giving his nationality.

The Malaysian Foreign Affairs Ministry confirmed Saturday that a Malaysian was missing following the incident.

Wisma Putra said it was trying to get more information from the local authorities on the incident through the Malaysian Consulate General in Shanghai.

Chinese media have identified the Malaysian onboard the vessel as Cheong Kin Chin.

“Water entered the boat cabin very quickly, in less than 20 seconds it was completely filled with water,” survivor Wang Zhenkai told state television from his hospital bed.

Wang was accompanying a Japanese technician who was testing the engine, though the ship was made and outfitted in China, reports said.

A photo carried by state media Friday showed only the bow and part of the hull of the metal ship floating above the waterline, with a salvage barge alongside.

The accident occurred on a stretch of the river between the cities of Jingjiang and Zhangjiagang, which is close to the Yangtze’s mouth near the commercial hub Shanghai.

The provincial government said the boat was undergoing trials without properly completing the required procedures and without first reporting the condition of the ship, as required by regulations. – AFP

Source: http://www.thestar.com.my/News/Nation/2015/01/17/Yangtze-River-accident-21-confirmed-dead/
The Star - Malaysia