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Tuesday 31 December 2013

SingPost acquisition of Axis Plaza heat up competition with Post Malaysia

 
 
Axis Reit Managers Bhd (ARMB), the manager of Axis Real Estate Investment Trust (Axis-REIT), has proposed to dispose of Axis Plaza for RM34mil to Collective Developers Sdn Bhd last week.

Located at Glenmarie, Shah Alam, the freehold five-storey office/warehouse with a two-storey basement car park was one of the public initial offering properties purchased eight years ago for a lump sum price of RM22mil.

ARMB chief executive officer Datuk Stewart Labrooy said  the proposed disposal of Axis Plaza was due for completion by April 2014.

Collective Developers Sdn Bhd is an indirect subsidiary of Singapore Post Limited. In an announcement to SGX. Singapore Post Limited stated the Proposed Acquisition is to support the expansion of the Company's regional operations. This seem a wake up call Post Malaysia Berhad.

Singapore Post Limited wholly own subsidiary Quantium Solutions also have an office in Glenmarie, Shah  Alam. It seem business is good after Post Malaysia Bhd increased it International Postal rate since middle of May 2013. Collective Developers Sdn Bhd is a shelf company acquired on 20 Dec 2013 by Singapore Post. It is not sure why Singapore Post Limited to use Quantium Solutions it self to acquired the building. In fact, SingPost have more than 27% stake in another Malaysia base courier company GD Express  Carrier Bhd (GDex), a company listed on main board Bursa Malaysia.

However,Managing director Teong Teck Lean, GDex's largest shareholder with a 41.81% stake, said although its business arrangements with SingPost for the past two years have not been executed “in a very big way”, the company hopes to continue to leverage the partnership.

"We are helping [SingPost] complete the last mile here [and send parcels to their Malaysian clients] .

This mean GD Express helping Singpost complete last mile and send parcels to their Malaysian Clients but not helping route parcel from Malaysia to SingPost to re-route the parcel overseas. This required some technical capability to develop a software to track the parcel and let Singpost know the parcel from Malaysia has been paid as they cannot sell Singapore Stamp here. This job is done by a Malaysian technology startup. However, this can be done in west Malaysia only as the startup do not have network to collect parcel from Ecommerce operator to re-route the parcel. Maybe GD Express can leverage their network in East Malaysia.

Thus,  SingPost have 3 entity operate in Malaysia now, Quantium Solutions, GD Extpress and Collective Developers Sdn Bhd. Malaysia also have Competition Act 2010.

SingPost is Associate company of Singapore Telecommunications.

SingPost quarterly revenue growth approximately 32% and it profit growth between 6% to 14%.


AMMB stated that the courier segment continues to be the key growth area for Pos, recording a 54% growth in operating profit, mainly driven by a boost in online transactions which resulted in a rise in on-demand customer revenue, as well as increased contract customers, parcels and prepaid items.

 AmeSecurities further stated that mail segment recorded an increase of 11% in its operating profit due to higher revenue for prepaid, registered mail, admail, direct mail, international mail and corporate mail, coupled with lower staff costs, support costs and transfer costs. Its traditional franking and ordinary mail continue to contract by 6.4% and 5.4% respectively.

After an price hike of 400% in international postal rate.  Mail segment only growth 11%. This mean either many Ecommerce operator have ceased to operate or have route their parcel via SingPost. Mail segment might encounter same growth rate of 54% or higher than local courier segment if there is no price hike of international postal rate in May 2013. Slower growth in Ecommerce export also cause pressure to Malaysia currency, Ringgit  and cause import leaded inflation.

HLG stated that YoY. Revenue increased by 5.4% to RM316.8m mainly on stronger contribution from Courier segment,  Hong Leong Investment Bank Research further stated QoQ. Core profits declined by 7.5%, despite revenue declined 11.0% on lower volumes,

Kenanga stated:

Key Results Highlights QoQ, 2Q14 revenue fell across the board, led by mail (-14%); retail (-2%) and others (-54%) which more than offset a small improvement from courier (+2%) (refer to summary results table for further details). Overall revenue fell 11% mainly due to lower traditional mail services, lower contribution from LHDN E-filing and lower commissions from agencies in the retail segment. Correspondingly, QoQ, 2Q14 operating profit fell 14% on the back of lower turnover.

YoY, 1H14’s revenues from three segments rose as follows; mail (+5%); courier (+23%) and others (+26%) which more than offset lower contribution from retail (-22%). (refer to summary results table for further details). 1H14 operating profit rose 34% to RM108m due to higher revenue despite increase in expenses. Operating expenses increased by 6.3%

Kenanga further stated that (i) POS requires an estimated capital of RM500m as working capital for its AL-Rahnu Islamic pawn broking business and (ii) its planned estimated capex in FY Mar 14 of RM330m exceeds FY14’s operating cash-flow of RM290m.

This put pressure on Pos Malaysia's  Balance Sheet.













































 
3400万售Axis Plaza Axis 产托拟派1100万收入
 
 
(吉隆坡26日讯)Axis产托(AXREIT,5106,主板产业信托股)宣布以3400万令吉现金脱售AxisPlaza,并计划向股东派发共1100万令吉的收入分配。
Axis产托发文告表示,已跟新加坡邮政(SingPost)的子公司———Collective Developers私人有限公司达成买卖协议,以上述金额脱售位于莎阿南Hicom Glenmarie工业区的Axis Plaza予后者。
根据新加坡邮政文告,此收购案是为了支撑该集团在区域的营运。







 

Sunday 29 December 2013

Vincent Tan a British advisor that management must listen! 丹斯里陈志远 退而不休英国殖民时代的顾问

Last month, new business weekly Focus Malaysia have one report stated :

On his 60th birthday in February last year, tycoon Tan Sri Vincent Tan Chee Yioun surprised the corporate world by announcing his retirement from Berjaya Corp Bhd. At the same time, the founder of the Berjaya conglomerate also said he was donating half his fortune to charity.

 Many were taken aback by Tan’s retirement because in Malaysia, 60 is a relatively young age to call it a day, at least among corporate chieftains. And prior to this there were no signs that the hands-on tycoon was slowing down or phasing out his exit.

Now, more than 20 months later, Tan, who had handed over the running of Berjaya to his eldest son Datuk Robin Tan Yeong Ching, is still very much in the news with no signs of taking a back seat or fading into the background.




The Nov issue of Focus Malaysia write lengthy about his retirement. This week, the same business weekly feature Top 10 Best for 2014 also highlight his " retirement. ", The Star also feature him on Watch them in 2014 :

WHILE Vincent Tan has handed over the reins of his sprawling Berjaya Group to his son Datuk Robin Tan, the elder Tan remains the man to watch next year, both on the corporate front and the sporting pages.

Both journalist must never attended a startup event on Oct 2012. Tan Sri Vincent Tan invest in Internet Startup like MOL Global Bhd. MOL Global Berhad acquired Friendster and when Friendster sold it IP to Facebook and end up with 3.5 million shares of Facebook. This make Vincent Tan have reputation in Startup fraternity even in US.

When a historian try to twist the fact and said that Malaysia was never fully colonised. Our ex-Prime Minister Dr Mahathir said this was not the case in the strict sense of the word.

"Technically speaking, we were never colonised. The Sultans decided to invite the British to come and advise them on how to administer the country, and we were never conquered in that sense," he said.  However, he said it was a fact that the British "operated as though we were colonised", adding that the term colonised' was a matter of semantics.  "In other words, the British did not advise, they gave orders. The English language is such that the adviser rules and the rulers advise," he added.

On a meet up with Startup entrepreneur. Tan Sri Vincent Tan said he has "retired" as Executive Chairman of Bejaya Group and just become an advisor to his group of company. Vincent Tan said he is like a British Advisor describe by Dr Mahathir when British colonised Malaysia. Vincent Tan is well connected and he know Tun Dr Mahathir in person. He said Tun Dr Mahathir like to talk about British advisor which our Sultan have to listen to advise of British Advisor. Tan Sri compare his advisor position to his company is like former British advisor. When he give advised, management (his son) must listen.

He also told entrepreneur that he want majority shares in company he invest, so that Entrepreneur will listen to Angel (investor). However, CEO of MOL Global Bhd's Ganesh said he offer 40% to Vincent Tan initially and Tan Sri request 60% of his company. It only take less than one second for him to said "yes". Not many entrepreneur willing to give up controlling interest. However, Ganesh said he never regret that he give up 60% of his company he found. During dot com bubble, investor, refuse to pump more money if they control 40% or less. However, as Angel control 60% interest. Investor.......Vincent Tan continue to pump in money as this is his own company and MOL Golbal Bhd survive Dot com bubble. and when MOL Global Berhad want 40 million to acquired Friendster. Tan continue to support him and there is limited dilution of Ganesh stake.

With such clarification. Hope no media will joke about his retirement anymore.





Few days ago, USA today make a report with title America, meet Vincent Tan, the worst owner in sports

Tan, who purchased 51% of Cardiff City in 2010, apparently doesn’t like bluebirds. There used to be a dragon element to the Cardiff City crest, though, and Tan DOES like dragons. (Also, he knows that dragons are a popular symbol in Asia.) So the team changed the logo.



cardiff_city_logo

 
Cardiff City used to wear blue jerseys. They wore blue jerseys for as long as anyone can remember. When Tan bought the team, though, he changed the team’s colors to red. Why? Because Tan really likes red, and he thought red would sell better in Asia, where he comes from.

Forget that Cardiff City’s team is known as the “bluebirds.” Tan likes red and thought the color change would sell jerseys in Asia, so Cardiff City became red.

The latest news to infuriate the fans is that Tan now wants to change the name of the club from Cardiff City F.C. to Cardiff Dragons.

However, western media and Cardiff fans fail to recognised that Cardiff perform better and newly promoted to Premier league after 51 years, since the change of colour from blue to red and change of it logo! A miracle or Fengshui?

Few day ago, Cardiff City owner Vincent Tan has sealed an agreement to take over the control and management of Bosnia's Premiere League football club Sarajevo,

Given the way he treated startup he invested. It is unlikely that he will let Manager runn the football club he invested. Seed capital or startup investment cost less than a football club. Why he want to give up control if he have spend so much money on it and he is more likely an advisor that management must listen.
Vincent Tan and Malky Mackay Vincent Tan changed his mind about Malky Mackay's future at the club at the weekend


Tan Sri Vincent Tan's daughter, Chryseis Tan Sheik Ling used to show off her Hermes and other branded goods on her Instagram . Her instagram have 5,000++ follower todate

Chryseis Tan Sheik Ling and her Hermes




However, as she never hold any position in public listed company. We will not specially feature her in our Corporate Princess series.


Tan Sri other son's are Dato' Robin Tan Yeong Ching, Rayvin Tan Yeong Sheik, Tan U-Ming, and daughter's are  Nerine Tan Sheik PingMorvin, Euvin , Nevin and his youngest daughter is Chrystal Tan.

Update : Tan a hard-nosed businessman












丹斯里陈志远 退而不休英国殖民时代的顾问

受到上市计划及股权脱售的消息包围,相信丹斯里陈志远在全新的一年,将继续活跃,可说是“退而不休”。
在2012年初退下成功机构(BJCORP,3395,主板贸服股)主席之位后,陈志远依旧忙碌,曝光率比接管集团的长子拿督陈永钦还多。谈及长子拿督陈永钦接任集团职务后的表现时,为父的陈志远表示满意,並且开玩笑地说,根据中国人的传统,长子將会继承父业,幸好其长子的表现出色,否则其生意也不一定是由长子接任。

他续称,目前自己是集团的顾问,他以我国前首相敦马哈迪的名言举例称,他是英国殖民时代的顾问,「就是顾问的话,你一定要听。」引起哄堂大笑。
他计划把3家私人持有的企业上市,包括大马7-Eleven有限公司、MOL全球有限公司(MOL Global)及U Mobile。因此,相信这将引起投资者的注意。
之前传他要将英国加的夫球会(Cardiff City)在新加坡上市;他介入球会,把儿子密友捧上转会总监的位子,让陈志远在足球市场上声名大噪。

英超球队加的夫的球迷周四在球队出战南安普敦时聚集在场外高举布条与牌子,高喊马来西亚富豪老板陈志远下台,情绪高涨。

41岁的主帅麦凯被指在转会预算、引援、成绩和比赛风格都未能符合陈志远要求,后者日前要求麦凯自动辞职或遭解雇,结果掀起轩然大波。
cardiff_city_logo
此外,陈志远入主后把球队传统的主场蓝色战袍与“蓝鸟”队徽改为红色球衣及“红龙”,也令球迷感到忿懑。尽管面对球迷的“倒戈”,在商场上经历过大风浪的陈志远,在观看比赛时双手插裤袋显得轻松自若。



除了上市计划之外,还有股权脱售也是其中一项焦点。他早前提及因为与旗下的Cosway Pharmacy有利益冲突,有意脱售刚上市的康宁药剂(CARING,5245,主板贸服股)20.35%股份。
此外,陈志远也不排除脱售美国面子书(Facebook)的股权。

丹斯里陈志远之女Chryseis Tan陈雪铃,时在instagram展示她的爱马仕(Hermes)包包.她的instagram现在有五千多追随者.

因为她没有在公司任职或有股份,所以,不会特别放在我们的企业公主系列.


丹斯里陈志远之女陈雪铃和她的爱马仕(Hermes)包包





























Wednesday 25 December 2013

Genting Hong Kong opens new lodge at its ski resort in China's Hebei 云顶香港进军中国河北 打造滑雪度假村

Outdoor jacuzzis at the new lodge
 
Genting Hong Kong has opened a new accommodation option at its ski resort in China’s Hebei province. Located in China's Hebei province, 230km from Beijing and 59km from Zhangjiakou City, the ski resort is a collaboration between Hong Kong-based VXL Group and 3rd Valley (ZhangJiaKou) Resort Corp. The luxury ski lodge officially opened its doors to holidaymakers on 14 December.

The VXL Group, which was set up by Malaysian businessman Datuk Lim Chee Wah, has had investments in the information, communication and technology (ICT) sector in Malaysia, and property development and tourism sectors in Hong Kong and China. Lim is the youngest son of the late Tan Sri Lim Goh Tong, founder of the Genting Group.

The new 30-suite lodge has launched last week at the Genting Resort Secret Garden, which is located three hours’ drive from Beijing.

The majority of the 30 suites are designed in loft style, while the chalet-style hotel also offers spa facilities, fireplaces, outdoor jacuzzis, function rooms and restaurants.
  
Genting Hong Kong Chairman Tan Sri Lim Kok Thay and Genting Resort Secret Garden Chairman Datuk Lim Chee Wah commemorated the grand opening ceremony featuring a traditional Swiss music performance.Genting Hong Kong’s chairman, Lim Kok Thay, said he hoped the project would strengthen Beijing’s bid to host the 2022 Winter Olympics.

"We will aim for Genting World to be the best ski lodge and the best ski resort not only in China but in Asia,” said Lim. “[With] this great project here… we hope to be championing the dream of China getting the Winter Olympics.”
 
“We will aim for Genting World to be the best ski lodge and the best ski resort not only in China but in Asia. I’d like to sincerely thank my dear brother Datuk Lim Chee Wah for giving Genting this opportunity to pioneer this great project here, which we hope to be championing the dream of China getting the Winter Olympics.”
 
Also in attendance were Genting Resort Secret Garden Chief Executive Officer Mr. Ye Xiang, Genting Hong Kong China Operations Senior Vice President Mr. Ang Moo Lim and Genting Hong Kong Hospitality Division Executive Vice President Mr. Peter Foster.




To further enhance the skiing and hospitality experience for holidaymakers, Genting Resort Secret Garden has entered into a partnership with LAAX Switzerland, winner of “Best Ski Resort in Switzerland” at the World Ski Awards 2013. The partnership is a significant step to bring Genting Resort Secret Garden in line with international standards as a world-class ski resort.



 
The total investment for the 262ha resort with 87 ski trails (total length 70km) and 22 ski lifts (total length 30km) is RMB7.5 billion, and it is expected to be the largest international family vacation destination in China.

During the 2011/12 winter, the resort launched 11 ski trails for beginners, intermediate and advanced skiers while a total ski area of about 40 sq m, two four-person ski lifts and one ski magic carpet were also launched.

The ski resort will offer a variety of leisure activities and skiing facilities, and will be on par with world-class ski resorts such as the Vail in the US and Whistler in Canada.

It is estimated to receive over 1.6 million visitors each year when fully completed in six to seven years.

The new lodge becomes the third Genting property at the ski resort, following the Genting World and Genting Grand hotels. Genting Resort Secret Garden currently offers 30 ski runs, but by time the complex is fully developed in 2018, it will offer 87 ski routes totalling 70km, served by 22 ski lifts.
















 云顶香港进军中国河北 打造滑雪度假村 中国云顶酒店开幕



云顶集团旗下的云顶香港,在中国河北省崇礼县密苑云顶乐园建设的云顶世界酒店正式开幕,放眼打造成亚洲最佳滑雪山庄及度假村。云顶香港主席丹斯里林国泰表示,希望此项目能加强中国及张家口市联合申办2022冬季奥运会的条件。


 

 
 
 
 
 
 
 
 
 
 
小图为该酒店的户外按摩浴池,其他一流的设施涵盖水疗设施、壁炉、会议室及亚洲餐饮场所。

 
 
 
 
 
 
密苑云顶乐园生态旅游度假村是目前中国华北地区投资规模最大的旅游胜地。
 
 
 
 
 
(吉隆坡24日讯)云顶(GENTING,3182,主板贸服股)子公司———云顶香港在中国河北省崇礼县的密苑云顶乐园建设的云顶世界酒店正式开幕。
云顶香港主席丹斯里林国泰表示,希望这项开幕能够加强中国及张家口市联合申办2022冬季奥运会。
 
经过多年的建设发展,崇礼滑雪产业从无到有、从小到大,不仅成为北京周边独具特色的滑雪旅游集群地,还致力打造高端比赛和大众滑雪的理想之地。
 
密苑·云顶滑雪场致力于打造世界先进、国际一流的高端滑雪场,配置了世界领先的奥地利多贝玛雅高速索道,速度达每秒5米,既安全又快捷。
 
 
由云顶香港全资在河北省崇礼县密苑云顶乐园所打造的云顶世界酒店正式开幕营业,林国泰(左起)、林致华和密苑总裁叶翔为云顶世界酒店开业剪彩。
 
 
 
 
现在,崇礼县被评为“中国县域旅游之星”十强,“崇礼滑雪”也连续两年被评为中国体育旅游精品项目。
 
得天独厚的申奥优势
  大自然赋予崇礼独特、优质的滑雪旅游资源。崇礼境内多为中低山脉,海拔从814米上延至2174米,山地坡度多在5度到35度之间,非常适宜建滑雪场。冬季的崇礼雪量大、雪质优,存雪期长达150多天,气温适宜,风速较小,完全符合冬奥会评估要求,适于开展国际高端竞技滑雪运动。诸多的优势使崇礼被业内专家誉为 “华北地区最理想的天然滑雪区域”。 国际奥委会专家到崇礼考察时表示,“崇礼以五道沟为中心的区域,是中国目前最好的能够举办冬季奥运会雪上项目比赛地点”。
 
多年来,崇礼县把握生态优势,大力发展冰雪经济,成为北京周边著名的滑雪旅游集群。目前全县共建成万龙、密苑·云顶、多乐美地、长城岭4家国内知名雪场
 
小屋风格一流设施
 
“我们希望把云顶世界打造成亚洲最佳的滑雪山庄及度假村。同时,也希望中国成功申办冬季奥运会。”
云顶世界主要提供舒适和现代化的住宿。小屋风格的酒店配有一流设施,设有水疗设施、户外按摩浴缸、壁炉、会议室以及亚洲餐饮场所等。一旦在2019年竣工,这项价值65亿人民币(约35亿令吉)的度假村将会涵盖99平方公里、87个滑雪道,以及22个滑雪缆车。
目前,度假村拥有30个滑雪道、3个滑雪地区,以及3个滑雪缆车。
为了加强滑雪及待客经验,密苑云顶乐园与瑞士最佳滑雪度假村的LAAX签署伙伴协议。这项合作将是把密苑云顶乐园提升为世界级滑雪度假村的重要里程碑。
 
 
密苑云顶乐园拥有星级标准的酒店,预期每年可接待游客180万人次以上,距离北京约3个小时车程。




 





Tuesday 24 December 2013

Multi racial coalition form to tackle issues affecting SMEs in view of the series of price hikes 跨领域族群加强发言权 工商会结盟抗涨潮







From right : K. Subramaniam,Mohd Fazil Abdullah, Michael Kang , Madhu , Mr. CHAREON S. TANG WHYE AUN





KL and Selangor Indian chamber of commerce and Industry ( KLSICCI ) would form a multi-racial, multi industry, and multi territory coalition with Malaysia Muslim chamber of Economic and Social Affairs ( DESMMA ), SMI Malaysia, The Electrical and Electronics Association of Malaysia (TEEAM), KL and Selangor Chinese chamber of Commerce and Industry, Malaysia Retailer-Chains Association and Kuala Lumpur, Malay chamber of Commerce to tackle issues affecting SMEs in view of the series of price hikes.


出席10大公会及商会的代表, 踊跃交流, 纷纷说出各自面对的困境。



"Given the rising costs and a sluggish economic environment, the picture doesn't look good for local business." said KLSICCI president Madhu Sudan Nair : "Malaysian SMEs are already fighting to survive in a very competitive environment.....with all the price increases happening at the same time, it is going to make it even harder for businesses"

According to the DESMMA president Mohd Fazil Abdullah, the increases in prices, the increases in prices were too drastic and too rapid for local businesses.

This is a sort of "tsunami" for us..it is too drastic for us rto absorb." Mohd Fazil said.

In recent months, the  Government has reduced its subsidies for fuel, resulting in the increase of the prices of RON95 petrol and diesel by 20 sen to RM2.10 and RM2 per litre, respectively. It had also abolished the 34 sen per-kg subsidy for sugar, resulting in the price of domestic refined sugar increasing to RM2.84 per kg.

And starting next month, the average electricity tariffs in Peninsular Malaysia and Sabah and Labuan will increase by 15% to 38.54sen perkWh and 34.52sen/kWh, respectively, as the Government scales back subsidies for the power sector.

There were also concerns raised over the increase in assessment rates for properties in Kuala Lumpur and the impending hike in toll rates.

SMI Malaysia deputy President Michael Kang said many SMEs would be in trouble if they could not adapt to the change in business environment next year. "We don't know what's going to happen in 2014," Kang said, adding that there would be negative implications on the country's economic growth and employment rate if SMEs failed.


SMI Malaysia deputy President Michael Kang

SMEs represent 97.3% of all businesses in Malaysia, and account for 32% of the country's gross domestic product and 52.7% of total employment in the country.

According to local business chambers and associations, Malaysia SMEs are already facing intense competition from foreign businesses that had penetrated the Malaysian market, yet many local companies are not competitive enough to go into foreign markets due to their relatively higher cost of production.

TEEAM vice-president K. Subramaniam, in voicing his concerns about the future of local manufacturers, said some players faced the prospects of being shut down due to an inability to compete effectively.

"Malaysian SMEs will face a tremendous uphill battle in the coming months," Madhu said. "Many businesses are currently already operating on a profit margin of 4% to 5%...all the (recently announced) price increases are definitely going to add to their production costs," he noted.

"We know our costs will definitely go, but we don't know by how much," he explained.

"In business, we must be able to estimate our costs in order to be competitive...but now, we don't" Madhu said.

Madhu stressed that local businesses were not against the policies of subsidy rationalisation, but they believed such a move must be don in "Structured" way, and accompanied by a move to open up the market by getting rid of monopolies. He also said the Government should have rationalised subsidies in an even more gradual manner to give more time for businesses to absorb the rising cost.

Mr. CHAREON S. TANG WHYE AUN, Deputy President of  KL and Selangor Chinese chamber of Commerce and Industry said minimum wage of RM900 reasonable in Kuala Lumpur and Klang valley. In fact, it is too low for this area. However,, in plantation estate where employer provide food and accommodation. RM900per month is too high in those remote area





跨领域族群加强发言权 工商会结盟抗涨潮
http://cforum.cari.com.my/forum.php?mod=viewthread&tid=3285211&fromuid=1950303







Thursday 19 December 2013

Never say died atititude of Tan Sri Lee Kim Yew 李金友不認輸‧重振綠野聲威

We get a lot of search of "Lee Kim Yew" and "Tan Sri Lee Kim Yew" as a keyword search to this blog for past few weeks. It is not sure it is related to speculation of his intention to contest political party MCA top post or his daughter Dian Lee in Singapore's Asiasons, Blumont, Liongold saga. Lee Kim Yew is familiar face foe Malaysia, I guess the search is from Singaporean who search info for for Asiasons, Blumont, Liongold.


 

Growing up in Batu Pahat, Lee, who was the youngest in a family of six, had to mature rather quickly as his father pass away when he was 13. Despite life being hard, Lee preserved in his studies, and upon completion of his Senior Middle Three in 1973, left for the bright lights of Kuala Lumpur.

He took on various jobs in the publishing and book trade. Within four years he grew tired of working for others so he started his own business. He dabbled in everything, from printing to cakes and confectionery. "If there is anything that could be sold, I sold it" Lee remembers.

A few of his business forays lost money and sank like lead balloons. One of his more successful early forays was in automatic gates business. His thriving automatic gates business could not have given Lee a better insight into how the other half lived. He was literally beating up the path that led to the front doors of the monied classes and the privileged few.  "I felt one day I could live in such nice homes and become successful myself" he says.

Blessed with a willingness to work hard and the ability to bounced back from setbacks, Lee made his first million soon enough, at 23 years old.

He enjoyed the fruits of his labour for a while but became restless when he turned 30. It was then that Country Heights was born. "it was 1985 and I was looking for a new business venture. I did not want to go into some plain run-of-the-mill property development project. To succees, I thought, one had to be original."

Lee's outstanding achievement was the exclusive Country Heights residential project dubbed the "Beverly Hills of Malaysia". The Luxury country style residential project got underway in 1986 when the nation was in the throes of deep recession.

Around that time, he made the acquaintance of Arab Malaysian chieftain Tan Sri Azman Hashim whose family happened to own a large chunk of a rubber estate land hear Kajang next to the newly built Kuala Lumpur-Seremban highway. Lee came to know that Azman was anxious to dispose of the land and so made his approach. "For so long I had the idea. Now here was some one with the location. the place was perfect as it was next to the highway, and on good day, Kuala Lumpur is less than 30 minutes away by road" he says.

Quite a few people took a bit of convincing before they committed themselves for forking out a little under RM10psf for the land. since then, Country Heights has become such desirable property that the same square foot of turf is now worth many times more.

That it was sucha success cannot be put down to mere luck. Lee cleverly pitched his project at the top income bracket. the originality of luxurious country-style homes and being the first to introduce a new lifestyle ( where each home and expansive grounds are not walled up by physical barriers such as fencing) did not receive much interest initially. there have been well documented cases of individuals, including one cabinet minister, who did not take up the offer of buying one of the bungalow lots at the then prevailing rate, only to regret it later as the property value skyrocketed.

The success of Country Heights persuaded Lee to take his flagship property company public. Country Heights was offered to the public at RM1.50 a share in February 1994 and debuted at RM4.20, a premium of RM2.70.

The company's listing and subsequent hike in value has increased Lee's personal wealth to such an extent that he could afford to lead an idle life in retirement if he wanted to. He choose in stead to work on the Mines Resort City and set himself the task of transforming the derelict portion of Sungai Besi into a premier tourist attraction.

Sceptics deride his extraordinary recklessness when he, in a joint venture with some partners, acquired almost 1,000 acres of what was then wasteland in 1988 for about RM50million.

The purchase came with a huge lake, the result of rainwater that had collected over the years in the excavated pit of the disused mine. the huge amount of crystal clear water threatened to be his biggest liability at one point. Having filled to capacity, there was nowhere for all that accumulated rainwater to go but flood the adjacent Sungai Besi road. this treat has been nullified by the construction of an efficient system of drainage channels which divert excess water into Sungai Kuyoh and on to suingai Klang.

The then Prime Minister Datuk Seri Dr Mahathir Mohamad (now Tun) has visited the project site twice within a space of two years. Brimming with ideas, the prime minister was also responsible for suggesting that thr resort's two neighbouring lakes be connected by way of canal, according to Lee. He suggested that with a canal, a major transport link could be established between the various resort attractions without having to reply totally on road transportation. It would also become an attractive feature in itself.

Lee unabashedly describes it as Malaysia's Seven Wonders - for the seven components that make up the RM2billion development. These consist of the super exclusive Mines Resort and Golf Club, the mines Wonderland (leisure theme park), The mines Shopping Fair (Shopping and retail centre), The Mines Beach Resort. The mines Waterfront Business park, Palace of the Golden Horses ( the country's first resort hotel with an equine theme)  and the nation's largest exhibition centre - Malaysia International Exhibition and Showroom.

Having struck gold in the residential sector, Lee looked to industrial development next, The Subang Hi-Tech Industrial Park.  Chunghwa Picture Tubes was the first Taiwanese firm to set up shop in Subang Hi-Tech Industrial Park. Chunghwa Picture Tubes later take up a stake  to become second largest shareholder in Country Height during Asia financial Crisis.


Country Heights has further expanded into other segments of the property market in its aim to become a well diversified property developer. However, its core business remains bungalow land development. when reeled off one by one, the project name include the trademark "Heights" as if it were proprietory. (Like College Heights, Corporate Heights, Borneo Height resort, etc)So there is no danger of not being identify projects belonging to the group. However, all product are target high end customer and it is bad hit during economic crisis.

 Bouyed by the success of this foray into Mauritius (Kit Homes). Country Heights through its International and new Business Division entered into a joint-venture agreement to develop Pecanwood Estate in South Africa. Situated on the southern banks of the Johannesburg's Dam which is one of Johannesburg's largest,  600acre freehold estate a mixed residential, leisure and commercial development with golf course, conference centre and facilities for watersports activities.

In short 3 years after the company IPO. The company hit with Asia Financial Crisis in 1997 when the completion of Mines Resorts. It financial result miss market expectation.

The Devaluation of RM and bad economic condition cause much difficulties. However, Lee never say died attitude make him to remain positive. In earlier 1998, Tan Sri Lee actively seeking investor in Taiwan and Chunghwa Picture Tubes Ltd become second largest shareholder, Chunghwa Picture Tubes Ltd have 13.93%  stake in Country Heights today,

Taiwan-listed Chunghwa Picture Tubes manufactures cathode ray tubes for monitors and televisions.

After some hardworking, his able to continue his project in UK and South Africa. The project in Sarawak, Borneo Heights, also revive after stop work for 4 months.

 When people cutting advertising cost. Country Heights increase advertising expenses. In fact, London International Exhibition Centre (ExCel) in Canary Wharf, which Country's Height hold 42.7% stake, also a project that initiated during Asia financial Crisis. ExCel Canary Wharf able revive after 10 years also increase Country Height reputation in Europe. British also invite Country Height to bid for Millennium Dome job at one point due to it reputation on ExCel project.

At one point, when cash in the market was low, Country Height allowed people to use shares of listed company to swap property in the company.  This is an innovative measure as people do not have cash at that point. company able to sell the shares to get some cash flow for the company as shares are more liquid than property that company own.


Tan Sri Lee said he is satisfied with performance of his daughter, Dianna Lee Cheng Wen as a CEO of the company.  Lim become semi retired as a vice chairman of the group after pass the CEO position to his daughter. The company more focus on healthcare division now. Medical tourism is the way forward. The figures are growing but what we want now is to capture the foreign market," he said.

Mines Shopping Fair to Singapore's CapitalLand Ltd

In 2007, it sold Mines Shopping Fair to Singapore's CapitaLand Ltd for RM432 million, from which it made an estimated gain of RM102 million. The proposed disposal will enable Country Heights to realise its investment in the Mines Shopping Fair complex and raise funds to reduce its gearing, the Malaysian company said in a statement

Lee Kim Yew also launch Country Heights Grower Scheme in 2007. Some financial journalist promote the scheme as it is launch by Tan Sri Lee Kim Yew. However, those financial journalist fail to recognised that Tan Sri Lee expertise in on property and he has no experience in palm oil nor plantation business at all. The scheme has been terminated in 2013.

Tan Sri Lee has been high profile recently, first, at EGM of Matang Holdings Berhad, which, majority of it shareholder are member of MCA, part of ruling political party, and later his intention to contest top post in MCA




Update : Country Heights at 6-year high





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李金友不認輸‧重振綠野聲威
http://biz.sinchew.com.my/node/78540

30年前,首都南部一帶的發展還相當緩慢,遠不及衛星城市如八打靈再也的發展,不過綠野仙蹤的崛起頓時成為“市場佳話”,也讓我們開始瞭解有這麼一名華商丹斯里李金友。
他的代表作“綠野王國”靠的不全然是運氣,從80年代經濟大蕭條時期崛起,以大膽及創意立足國內的企業界,“綠野”這個名詞更讓國人看到了本地華商的那一份魄力及果敢,彩繪了90年代輝煌的一頁。
然而,在綠野集團(CHHB,5738,主板產業組)上市後的短短3年光景,令人心驚膽顫的1997年亞洲金融風暴肆虐,迅速令國內產業市場由高峰跌入谷底,自此綠野的聲勢也變得大不如前,像座沉睡的火山,而最近該公司旗下的種植計劃終止,更將聲勢再度往下力壓。
本期《經營之道》以綠野集團為主題,將這30年的前後變化擺上台面,走過的高高低低化為文字,近年來“按兵不動”的綠野這個品牌,能否“歷久不衰”及再度綻放光芒,值得追尋。
 
從礦湖到旅遊景點
 
一片荒蕪橡膠園開發成高尚住宅區;一片森林蛻變成讓人流連忘返的高原旅遊度假村;一個被人遺忘的錫礦湖搖身一變成了國際性旅遊景點。
在掛牌的短短10年間,綠野已取得很多產業發展公司夢寐以求的成就,將一塊毫不起眼的地段,打造佔地400公頃的綠野度假城,從商場、酒店、商業中心,到會展中心、高爾夫球場及水上園,一座又一座的建築物拔地而起,並成為吉隆坡市郊的重要地標。
其他的發展計劃還包括國內首個工業園“巴生高科技工業園”、砂拉越花園勝地“婆羅洲高原”、結合教育及家園概念的森美蘭州“學府山莊”,一直延伸至海外的南非“Pecanwood度假村及住宅計劃”,都是在李金友的努力下而打造出來的。
該公司的核心業務包括休閒、產業投資及產業發展,從綠野仙蹤、金馬皇宮酒店,到綠野購物廣場都是赫赫有名的地標,相信沒有多少人會不懂,一切得從80年代談起。
80年代中期,宏觀經濟從谷底爬起,綠野在雪州加影買了一塊膠園地,打造成國內首個具有鄉野式的居住環境,獲得市場的熱烈迴響。
儘管1987年國內經濟不景氣,產業市場低迷之際,不過綠野集團創辦人兼副主席李金友卻毅然選擇了產業市場,作為他“更上一層樓”的基石,並擴展至工業園發展計劃。當時41歲的他更開創綠野山莊,猶如大馬的“Beverly Hills”,以致被喻為國內最具創意的發展商之一。
綠野是國內首家推出“綠野生活”概念的產業公司,並孕育了“綠野仙蹤”發展計劃,進而打響了公司的聲譽,並成為業務標誌。
 
綠野——產業市場“明珠”
 
來到90年代牛市場時期,該公司的前景更是備受看好,甚至有分析員曾這樣說:“即使房市放緩,該公司仍可取得20%成長。”可見當時的綠野可算是產業市場中的一顆“明珠”。
綠野的產業計劃以高檔市場為主,砂拉越婆羅洲山莊、森美蘭巴音學府山莊、吉打州學府山莊都相當著名,不過在大市下跌時,卻面對較大的風險。
當時該公司也積極將觸角延伸至海外市場,曾參與毛里求斯廉價屋、非洲綠野仙蹤綜合性產業發展及中國南京長江第二大橋計劃等。
國內方面,該公司斥資超過2億6千萬令吉承建金馬皇宮酒店,僅花了短短的22個月即於1997年10月落成,成為綠野度假城的一部份。該酒店坐落在湖畔旁,外形呈馬來傳統建築之摩爾式設計風格,有如童話中天方夜譚的宮殿。
隨後綠野推介水上綠野休閒城,耗資10億令吉,成為吉隆坡南部“產業明星”,並實現了所謂的“夢想計劃”,當中包含酒店、購物商場、高爾夫球俱樂部及公寓等,總面積達946英畝。
 
無懼金融風暴
危機中尋商機
 
1997年7月,金融風暴開始來襲,狂烈拍打企業家的門口,具代表性的綠野度假城(Mines Resort)於同年落成,形成強烈對比。
從那時起,綠野的產業發展步伐也開始放緩,財報表現低於市場預期。金融風暴席捲時,有人揣測李金友已失去靠山,企業王國開始受到動搖,而且更有傳言指他瀕臨破產邊緣,負債累累,但他都沒有加以解釋。
 
赴台取經
引進資金
 
無論如何,一場亞洲金融風暴,致使國內產業領域萎縮,股市崩盤及馬幣劇貶,從事休閒、旅遊、娛樂及購物商場業務的綠野難免受到衝擊,但李金友卻毫不退縮及畏懼,反而積極在危機中尋找商機,包括到台灣“取經”,期望引入更多資金。
在風暴肆虐期間,各種不利於李金友的謠言不絕於耳,主要指該公司受股市拖累而面對財務問題、銷售成績趨軟,甚至被迫變賣金馬皇宮酒店。
不過,李金友都一一駁斥了這種“攻擊性”的言論,並認為只要金融危機煙霾一過,一切就會復甦了,並淡定地說“路遙知馬力,日久見人心”。
1998年初,國內產業市場幾乎全線崩潰,除了消費情緒低迷及馬幣大幅貶值,更重要是當時國家銀行採取嚴謹的緊縮政策,產業市場自然深受其害。
可是,他始終“不認輸、不低頭、不屈服”,不斷在萎靡的市道中尋找一絲希望,為公司尋覓資金及為海外陷入停頓的發展計劃重新催生,如邀來台灣中華映像管(Chung Hwa Picture Tube)入股綠野,成為第二大股東。他積極奔走,讓綠野的英國及南非的2項大型投資得以延續,而停工了4個多月的砂拉越婆羅洲山莊也迅速復工。
在金融風暴期間,許多商家都大幅縮減廣告開銷,唯獨綠野“反常態”不惜下重本強勢宣傳,而且倫敦展覽館計劃更是風暴期間敲定的計劃,在停工超過10年後才“死灰復然”,進而讓該公司的名氣傳開至歐洲市場。
同時,該公司的高檔產業計劃仍成功攫取市場的熱烈反應,渡過產業市場的低潮期。1999年更涉足博彩業提昇收入來源,以倫敦國際戰展開控股股權,換取泛馬彩券(Pan Malaysia Sweeps)的股權,交易值達3億令吉。
不過,大馬評估機構(RAM)於1998年5月下調綠野的債券評級,主要基於其基本面因素惡化,經濟危機更導致該公司的資產脫售計劃遭擱置,並影響了高檔產業的銷售額。
 
股票換產業渡困境
 
當時債務激增將該公司推向下坡,資產脫售傳言即刻亂竄,包括金馬皇宮酒店及綠野仙蹤,員工之間也人心惶惶,李金友每天不僅得忙於公司事務,還得面對員工的疑問及忙於解釋。
為了應對困境,該公司曾提出創意的“股票換產業”計劃,市民獲準以手中的股票來購買旗下產業單位,以解決市場資金短缺及高檔產業難以獲得貸款的難題,並期望能安然渡過嚴冬。
有關計劃以股票取代現款,該公司獲得的股票也比產業更容易套現,藉此改善現金流狀況。當中主要以在馬股掛牌的藍籌股來換取該公司推出的產業單位,“窮則通,通則變”儼然成為他的經營方式。
隨後綠野更推出“免銀行、免利息及無壓力”的產業投資策略,最終獲得市場的不俗反應,連外資也深感興趣。
綠野也曾大規模涉足服務業,先以旅遊保健業帶頭衝刺,並由銀髮族計劃等業務相輔。
 
重整聲勢
斥32億打造保健城
 
為了重振綠野聲勢,綠野配合國家經濟轉型計劃,斥資32億令吉在接下來的10年內,將綠野休閒城轉變為綠野休閒保健城,矢要放手一搏,挽回顏面。
李金友不諱言,公司要重整旗鼓並不是項簡單的任務,因為自遭到1997年亞洲金融風暴蹂躪後,公司欠下龐大債務,至今已攤還超過5億令吉。
“若非要償還這大筆債務,公司業務成長幅度會更為快速。”
無論如何,他說,有些事情急也急不來,公司須打穩基礎後才能再度“起飛”。
他深信作為國內具知名度的發展商,綠野遲早會獲得市場的青睞,並向實達集團(SPSETIA,8664,主板產業組)看齊,期望有朝一日也能創造龐大市值。
“除了商業利益,我們也以誠信度掛帥,將正確的人文及思維融入品牌價值中。”
 
滿意女兒領導
 
“半隱退”的李金友對千金李靜雯的領導感到滿意,並指團隊方向正確促使公司品牌備受肯定。
“年輕人應獲更多機會,持續領導公司邁向前並取得更大進步空間。”
綠野正啟動的綜合醫療及健康的度假村,佔地1千英畝,將打造成一個集現代及輔助醫藥的一站式保健中心。
他說,公司致力於將全球各地優質的醫療服務引入保健度假村,確保營運能永續經營。
“保健業務有別於其他屬於週期性的領域發展,隨著人們的保健康意識逐漸提昇,相信此業務可攫取更大的成長契機。”
該公司曾提出各項重組建議,包括雄心勃勃欲將產業發展臂膀掛牌,放眼減債及籌措逾3億令吉,惟分拆上市計劃最終卻遭證券監督委員會駁回,引起市場的強烈沽售,導致股價創下歷史新低紀錄。
隨後提出設立產業投資信托(REITs)計劃,但最終卻不了了之,因此究竟能否突破重圍,極力向上游,則仍有待觀察。
 
被逼售綠野水上購物廣場給嘉德置地還債
 
現實始終是殘酷的,長期累積的債務,導致綠野於2007年不得不以4億3千萬令吉,脫售綠野水上購物廣場給嘉德置地(Capita Land),以套現還債。
1997年該公司處於頂峰,股價上探至15令吉以上水平,比1994年剛掛牌時的1令吉50仙發售足足翻了9倍之多,而在風暴前的產業高峰期,該公司於1996及1997年期間取得1億1千500萬令吉稅前盈利,表現極為亮眼。
 
金馬皇宮酒店曾差點遭充公
 
由於經濟不景氣,綠野的旅遊及休閒相關業務陷入困局,卻從2001年起首次蒙虧,全年淨虧7千450萬8千令吉,2002年淨虧損更擴大至1億4千316萬8千令吉,直到2003年才轉虧為盈,錄得1千169萬5千令吉淨利。
該公司曾爆發一場風波,主要是因為無法贖回總值2億令吉債券,差點拖累金馬皇宮酒店遭充公,隨後陸續脫售非核心資產減債,並專注在核心業務的發展。
 
首季盈利激增13倍
 
該公司2006年又陷入虧損窘境,淨虧3千268萬9千令吉,隔年才轉虧為盈,而2012財政年全年淨利則小起3.78%至2千454萬3千令吉。
最新2013財政年首季則激增13倍至1千893萬1千令吉,受惠於產業領域表現出色。
90年代的綠野曾派發10%以上股息,但如今卻已多年無派息記錄了,引頸長盼的投資者不知還要多等幾久呢。
雖然李金友強調公司已告別2008年全球金融風暴的陰霾,業務基本面及資產負債表已大獲改善,不過在股東大會上,小股東仍按耐不住,對股價毫無起色而感到擔憂。
小股東從李金友口中得到的答案是:“大股東一直都在增持股權,超過50%,證明我們對公司的業務前景深具信心。”
綠野股價遭大幅低估,過去10年都在淨資產水平以下交易,不斷令私有化消息重燃。目前該股約為1令吉,相比每股資產為2令吉74仙。
 
吸取教訓
短期不推出種植計劃
 
沉寂了逾10年的綠野,於2006年欲借助推出“綠野種植者計劃”重新吸引市場的目光,且是國內首創之舉,可是最近卻宣告失敗了。
李金友坦言:“這事件給了我一個教訓,我們是在逼不得已的情況下才終止,短期內不會再考慮推出此類計劃。”
此計劃主要讓投資者直接持有油棕園股權,依據當時的棕油價計算回酬。投資者最低僅需5千令吉,即可當個油棕園的小園主,與產托頗為相似,投資期限為23年,承諾首3年可捎來高達8%回酬,隨後則根據市價而定。
這項投資在吉蘭丹話望生佔地逾4千公頃的計劃,在經營逾5年後,去年杪突然傳來此種植計劃遭終止的消息,震驚市場,投資者對該公司的決定感到萬分不解。
李金友表示,計劃之所以被終止是因為面對產量不足問題,加上未能如承諾般提供保證回酬。然而,他的這番解釋,卻留下了重重“疑團”,特別是當前的棕油價仍處於有利可圖水平。
無論如何,他說:“最初我們買下話望生種植地前,土壤研究結果顯示擁有良好的發展潛力,但最終結果事與願違。”
雖然在種植業者大會舉行前,投資者紛紛起哄宣泄不滿,然而在李金友書面承諾填補全額本金後,終止計劃動議才獲投資者投票贊成通過,劃下了句點。
 
堅持營運理念
 
無論如何,他還是堅持營運理念,即使身處經濟危機,也應樂觀面對並嘗試從中尋求契機。
“商場跟生命過程一樣,同樣有起伏,無論是高或低,我們都須勇於面對。當然,在低潮期,我會要求員工與管理層保持合作,確保穩住員工的飯碗。”
結語:

勞碌了大半輩子的李金友,如今已逐步退位,而隨著其千金李靜雯加入綠野並接任首席執行員職位後,繼承父業的重大責任就在她的肩膀上。

自小接受父親薰陶的李靜雯,能否接過管理權後開創另一片天地,並引領綠野再創高峰,更是未來營運之路的關鍵所在,下一個“綠野王國”有待發掘。







 
李金友小檔案

●現年56歲的李金友出身微寒,自幼喪父,但憑著自己的努力打拼,在40歲前即躋身億萬富豪的行列,成為一名地位顯赫的華商。
●他是純受華文教育的華校生,17歲畢業後即從柔佛來到吉隆坡打天下。最初他只當一名學徒,之後跑去當出版社翻譯員、推銷員,也賣過中藥及古董,並成為首位將電動門引進國內市場的商人。
●23歲那年,李金友賺到了人生中的第一桶金,經過一輪的深思,最終在30歲那年勇闖產業發展市場,即使當時產業領域處於低迷狀態,他也毅然放手一搏,開創另一片春天。
●值得一提的是,他有深厚的中華文化根基,並熱愛中華文化,這份特質在國內華商身上確實少有的。
●李金友於1984年5月正式創辦綠野集團(前稱Kurniata及Mojilee公司),並於1994年2月18日正式在馬股掛牌,擔任了24年的董事經理後,於2008年卸任,轉而擔任副主席。

最新 : 綠野近漲停板‧小資本股續發威





























































Sunday 15 December 2013

Catcha become outsourced partner of Mavcap to invest in Startup

New business weekly in Malaysia, Focus reported that Catcha Media Berhad become outsourced partner of Mavcap to manage RM150million fund to provide seed and earlier stage investment for technology startup in Asean.

It is believed that the fund will be jointly managed by  Patrick Grove, CEO of Catcha Media Berhad and Khailee Ng,  Co-founder and CEO of Says.com .

Says.com

Earlier July 2013, ACE Bursa Malaysia listed Catcha Media Berhad confirmed that the final agreements with Youth Asia Sdn Bhd to merge certain assets with Says Sdn Bhd, the owner of Says.com has been formally signed. The announcement made at Bursa Malaysia formalizes the RM60 million merger that will see Catcha Media subsidiaries and Says.com come together to form one of the country’s largest digital advertising business by reach, clients and spend, and potentially revolutionise the way advertisers reach out to Malaysia’s increasingly socially connected populace.

Catcha Media  has 4 business, publishing, online media, ecommerce and online classified. Only Publishing and online classified is profitable for year ended 2012.

E-commerce and profit guarantee

For Catcha Media, E-commerce business registered most loss for year ended 2012. This segment comprises Catcha Media's Dealmate.com  and Hauteavenue.com

Hauteavenue.com,  a Singapore base operator of the members-only luxury fashion sales website, which was acquired by Catcha Media over a year ago. There is a profit guarantee from the vendors of Hauteavenue.com of S$1.5mil (RM3.7mil) for the 12 months after the completion of the deal. It is not sure why Catcha Media never claim profit guarantee from vendor.

Dealmates.com – a joint venture between Catcha Group and Intel Capital. Catcha Media own 70 per cent and Intel Capital, venture capital arm of Intel,  – owns 25 per cent of the company. The rest is with management.

Conflict of interest / Joel Neoh

Dealmates began as a group buying services in 2011.  This should be a conflict of interest with another business of Youth Asia Sdn Bhd GroupsMore.com, which has been acquired by Groupon.com. Co-founder of Youth Asia Sdn Bhd, Joel Neoh, have since become CEO of Groupon Malaysia, the merged entity with Groupon and quickly rise to oversee operation of Groupon Taiwan. Today, Neoh is also the vice-president and general manager for Groupon's South-East Asia operations, which includes Malaysia, Thailand, Singapore and India. If Joel Neoh able to keep the pace. It might be possible that President of Groupon will be a Malaysian one day!

Okay, back to Catcha,  Dealmates claim they have converted into online flash site and no longer a group buying website like Groupon and might not have conflict of interest with vendor of Says.com.

Publishing

Catcha Publishing publishes and distributes 14 magazine in 17 editions including JUICE, Kitchen+Bathroom,EVO and Prestige.

Online classified

The online classifieds segment comprises iCar Asia Ltd.iCar Asia’s car sales websites in Thailand, Malaysia and Indonesia reach 1.5 million people every month. The company was listed on the ASX in September last year with a $10 million capital raising. In March carsales.com acquired a 19.9 per cent stake in iCar Asia.

iCar Asia’s Malaysian website Carlist.my is now the number one classified site in Malaysia, with nearly 104,000 listings. In Indonesia its Mobil123.com has increased total listings to over 105,000. In Thailand Autospinn.com remains the leading automotive content website.

There is little mentioned about Catcha's Online media segment but it still reporting loss for year 2012'

Online media doubts

Both Catcha Media and Says.com claim they are already a formidable presence in the region, with Catcha Media recording an estimated monthly reach of 8 million people and Says.com recording an estimated monthly reach of 6 million people. Collectively the companies service over 500 large clients, with brands like Petronas, Proton, Maybank, Maxis, MAS, Unilever, Samsung, Guinness Anchor and Carlsberg ranking amongst its biggest spenders.



However, monthly  comScore’s traffic comparison on top 30 website in Malaysia never show Catcha nor Says.com on the list for 2 consecutive month.

Synergy

 Says.com is a crowd-sourced content platform that leverages active social media users to curate and share trending news items, paying them when they broadcast advertiser-sponsored content. It currently boasts a portfolio of clients which includes Nike, Coca-Cola, Unilever, Maxis and Nestle.

 Catcha Media Berhad claim already established digital content leadership and broad online advertising base, with the power of social media and viral marketing of Says.com’s crowd-sourced curation service, has already generated significant buzz within the advertising industry. Said Patrick Grove, CEO of Catcha Media Berhad of the new company’s plans.

The proposed merger is valued at RM60 million, and under the deal, Catcha Media will be entitled to 35 million shares to be issued by NewCo while Says, which is owned by Youth Asia Sdn Bhd, is set to receive RM6 million in cash and 15 million shares. According to Grove, the merger value was based on the earnings of both companies and what they potentially could have been if both companies had been a single entity throughout the 2012 financial year. This is an acceptable valuation method with Grove sharing that a PE (Price Earnings) ratio of 10 was applied for the RM60 million valuation.

According to a Bernama report which quotes from RHB Research, the merger could potentially quicken Catcha’s turnaround.

"Based on a study by our source, Says.com is profitable and has an annual net profit ranging from RM1 million to RM2.5 million per annum. Post-merger, Catcha Media will hold a 70% stake in Says.com, which we think will boost the former's earnings," said the research house.

Ng noted that potential synergies are manifold when “you put leaders in social content distribution, leaders in content creation, and an advertising network that reaches 9.78 million Malaysians” together.

“Beyond that, it is also about two entrepreneurs and their passionate and driven teams coming together to build the future of media and advertising,” he added.

Ng said that advertisers are always excited to use Says.com to get their branded content shared on social media. In some cases, the advertisers would request for the company to create the content, which the team would need to decline because of its "laser focus and expertise in the distribution of social content."

On the flip side, Catcha Media's publishing unit has always been in the business of creating custom content, and in many cases, entire content channels and magazines for advertisers.

“At the same time, they are also frequently requested to integrate social media-centric solutions into the fold. The more we talked, the more opportunities we saw. That's when we knew that our shared vision for the future of advertising had to be acted upon,” said Ng.

Mavcap 

Youth Asia, parent company of Says, is an investee of Teak Capital, a technology-focused venture capital management corporation, also an outsourced partner of Mavcap. This mean Khailee Ng himself  is benefited from Mavcap indirectly few years back.

Patrick Grove

After graduating with a commerce degree in 1996 Patrick Grove, who was born in Singapore but grew up in Sydney, he started working at accounting firm Arthur Andersen in 1997. By mid-1999, the original internet boom was under way, and Grove was itching to be part of it.

He had spent most of the time in the firm’s corporate recovery division, but was later seconded to the corporate finance division, where he started writing business plans for internet IPOs in Australia.
“I was disillusioned,” he says. “I was raising money for people that I felt were not worthy of the money investors were giving them. I thought, if it’s this easy to raise money with a good plan, I can do it myself.”

However, the dotcom bubble meant the IPO never happened. Patrick become a "Veteran entrepreneur". Catcha Media only get IPO in  July 2011. 12 years after he found the company.  However, he experience in corporate finance before he become entrepreneur make him qualified to evaluated a business plan. And he understand the challenge of startup and technology entrepreneur. His weakness can be supported by Khailee Ng of Says.com.

Khailee Ng


Khailee Ng, co-founder of Youth Asia Sdn Bhd successfully raise seed capital funding from Teak Capital within short period of time after founded Youth Asia Sdn Bhd. And Youth Asia Sdn Bhd have two startup that successfully being acquired. Groupsmore acquired by Groupon and Says.com acquired by Catcha Media Bhd. He must able to evaluate the creative, technology and growth potential of a startup. It would be more beneficial if another co-founder of Youth Asia Sdn Bhd, Vice President of Groupon, Joel Neoh be included in the evaluation committee.

Joel Neoh Joel Neoh


Catcha Media will speed up it merger and acquisition process, which started since it IPO. Will Startup environment in Malaysia and Malaysia Multimedia Super Corridor (MSC) will be change is yet to be see.

Grove has an indirect stake of 58.5% in Catcha Media as at 15 May via Catcha Group Pte Ltd. The media company largest shareholder. It is follow by HSC Care Sdn Bhd, Datuk Justin Leong of Genting Bhd and Star Publications (M) Sdn Bhd. Star Publication has it own Star Accelerator Fund






















Thursday 12 December 2013

Shanghai overtakes HK to become China’s most competitive city 上海競爭力首超香港 成为中国最具竞争力城市

Shanghai has overtaken Hong Kong as China's top city in terms of comprehensive competitiveness, said a report released in Hong Kong on 10th Dec, 2013.

With the establishment of the first state-level pilot Free Trade Zone, Shanghai was listed for the first time as the most competitive city in China, overtaking Hong Kong, which held the position for more than a decade.

With a score of 16,163.08, Shanghai topped the list which measures comprehensive competitiveness based on the cities' economic, social stability, environmental and cultural conditions.

Hong Kong was ranked second, the champion in the past 11 years but scoring 16,099.80 this time.
Beijing. Shenzhen, Guangzhou and Tianjin took the next few spots.

The China City Competitiveness Report is published by the China Institute of City Competitiveness, a nongovernmental organization in Hong Kong. The 12th yearly report was based on research across 34 Chinese cities and areas including Hong Kong, Macao and Taiwan.

The ranking — which focuses on the overall competitiveness of Chinese cities — also considered quality of assets, safety of city life and sustainable development outlook.

Gui Qiangfang, president of the institute, said it brings no surprise for Shanghai to surpass Hong Kong in the ranking.

"The establishment of the first state-level free trade zone in Shanghai is a powerful driver to enhance the city's competitiveness," Gui said. "Considering Hong Kong's limited potential for further economic growth, more cities in the Chinese mainland will exceed Hong Kong in this list in the future."

In terms of economic output, Shanghai outmatched Hong Kong in 2011, while Beijing managed to do so last year.

But Hong Kong still led concerning regulatory system and the ownership of professionals, Gui said.

The following are the top 10 most competitive cities in the year of 2013 and their scores.

1. Shanghai
shanghai house rent
Competitiveness Score: 16,163.08

2. Hong Kong
hong kong
Competitiveness Score: 16,099.80

3. Beijing
beijing
Competitiveness Score: 15,813.05
 
4. Shenzhen
Shenzhen CBD














Competitiveness Score: 9,115.16

5. Guangzhou
guangzhou
Competitiveness Score: 9,024.81

6. Tianjin
tianjin house prices
Competitiveness Score: 7,048.11
 
7. Hangzhou
hangzhou house prices
Competitiveness Score: 6,747.29
 
8. Suzhou
Suzhou City
Competitiveness Score: 6,426.11

9. Taipei
Ximending, Taipei
Competitiveness Score: 5,801.88

10. Chongqing
Chongqing CBD
Competitiveness Score: 5,724.68


Highest Asset Quality Ranking

Hong Kong remains the city with the highest asset quality in the country. The report cited its healthy economy, low level of leverage, living conditions and sustainability of development as reasons for that ranking. Shanghai, Beijing and Shenzhen came next, followed by Macao, Chongqing and Tianjin.

City Life Safety Ranking

Hong Kong also ranked highest in terms of city life safety, followed by Taipei, for its zero record of public security incidents this year, few industrial accidents and reliability for mass consumption products.

Sustainability and Environmental Ranking

On the sustainability front, Tianjin and Chongqing ranked as the top two cities, with Shenzhen, Shanghai and Beijing following. For the first time this year, the report also published an  environmental ranking . Anji county in Zhejiang province and Dongning county in Heilongjiang province scored the highest for their high forest coverage rate and good environments.

 Discussion : Shanghai of Malaysia :
http://english1.cari.com.my/forum.php?mod=viewthread&tid=773613&fromuid=1950303














上海競爭力首超香港 成为中国最具竞争力城市



■中国城市竞争力研究会发表最新一届城市竞争力排行榜,香港综合竞争力排名不及上海仅得第二。 中新社

http://trans.wenweipo.com/gb/paper.wenweipo.com/2013/12/11/YO1312110016.htm


中国城市竞争力研究会10日在港发表最新一届城市竞争力排行榜,香港综合竞争力排名不及上海仅得第二,上海因设立第一个国家级自由贸易试验区等综合因素的驱动与影响,其城市综合竞争力首次超过香港位列第一。研究会相信未来数年中国内地会有更多城市超越香港,故建议香港把握制度及人才优势,加强发展金融及高科技产业。此外,香港作为亚太地区主要的国际金融、贸易、船运、旅游和资讯中心,被评为城市资产质量与安全程度最高的城市, 反映香港城市实力强及社会治安良好。



  
中国城市竞争力研究会当日在港举办“第十二届中国城市竞争力排行榜”新闻发布会,指出香港连续11年位居该榜榜首后,今年首次被上海超过,主要由于过去一两年香港的GDP增长幅度和财政增长均较上海慢,现在又面临上海发展自贸区的挑战。此外,上海在科技、文化和教育方面也有较强的竞争优势。


成长竞争力排行榜
排名 城市 分数
01  天津 2219.01
02  重庆 2056.57
03  深圳 2000.70
04  上海 1931.70
11 香港 1000.06
 
而香港是否亦面临排名其后的北京的威胁,中国城市竞争力研究会会长桂强芳表示,实际上,前年上海GDP增幅已超过香港,而去年北京GDP增幅亦已超越香港,差距也在逐步扩大,相信深圳、天津、杭州、苏州等更多内地城市的经济增长可能会在若干年后超越香港,他认为,香港经济总量扩张空间有限,与北京间的评判分值会逐步缩小。

中国城市竞争力研究会自1998年成立以来,根据其自主创立的GN评估体系,组织逾百名专家学者,每年对包括内地及港澳台在内的34个省市、296个地级以上城市,及374个县级市的综合竞争力和成长竞争力等进行研究比较,以促进城市更加科学理性地竞争发展。得出包括《2013中国城市综合竞争力排行榜》及《2013中国城市资产质量排行榜》等研究成果。


自贸区助上海领群雄

在竞争力排行榜中,由于上海的经济增长于前年已超越香港,在首个国家级自由贸易试验区等综合因素驱动下,城市综合竞争力表现今年首次超越香港。研究会表示,虽然香港排名跌落第二位,但作为亚太地区主要国际金融、贸易、船运、旅游及信息中心,香港继续拥有全球最繁忙的货柜港,亦是环球主要黄金交易中心之一,故经济发展最自由地区之一的香港竞争力,在排行榜上表现依然突出,反观北京、深圳及广州只分别位列第三位至第五位。

 综合竞争力排行榜
排名 城市 分数
1  上海 16163.08
2  香港 16099.80
3  北京 15813.05
4  深圳 9115.16
5  广州 9024.81
 
《香港商报》报道,对于是次上海赶超香港,桂强芳对此解释,主要由于过去一两年,香港的GDP增长幅度,以及财政增长度均慢于上海,加上现时亦面临上海发展自贸区的挑战,此外,上海在科技、文化及教育方面亦有较强的竞争优势。
 
研究会会长桂强芳指出,该排行榜的评价指标包括城市规模、经济实力、国际影响及对外开放程度等。现时香港正面临上海自贸区挑战,虽然本次报告中香港与上海的评分差距很小,但由于地域面积等因素,香港长远经济总量增长空间有限,未来北京、广州、天津及重庆等内地城市都有可能赶超香港。故香港应把握在制度及人才方面的优势,建议加强发展金融及高科技产业。

不过,他续称,香港与上海的分值差距微,香港在人才、制度等方面仍有长期积累的优势,尤其在金融领域,是内地其它城市在一段时间内难以赶超的,并肯定香港在金融,以及高科技产业方面能有所作为。该排名涵盖了经济、社会、环境、文化资源等四个范畴,以综合经济竞争力、产业竞争力、财政金融竞争力、商业贸易竞争力等10项首要指标构成。

   
桂强芳表示,香港在制度及人才等方面仍有长期积累的优势,特别是金融领域,内地城市短期内还无法超越。报告显示,香港今年在中国最安全城市排行榜及研究会首次发布的中国城市资产质量排行榜中均位居榜首。

城市资产质量港居首

不过,香港作为亚太区主要的国际金融、贸易、船运、旅游中心,在研究会首次发布的城市资产质量排行榜内,香港稳占首位,北京分别排名第二及第三,反映香港城市实力强、经济运行良好、负债率低、生态环境较好,及城市发展具备可持续性。该指标由城市实力指数、城市资源指数、城市无形资产指数和城市发展动力指数4项首要指标构成。
 
 
资产质量排行榜
排名 城市 总分
1  香港 94.31
2  上海 92.47
3  北京 89.95
4  深圳 85.24
5  澳门 83.23


港续膺安全城市「一哥」

此外,香港在中国最安全城市排行榜内继续位列榜首,台北排名第二,深圳居第三。排行榜主要指标是当年无发生重大安全事故,社会治安良好,投资环境优越,生产事故亦少有发生,能为市民、企业及政府提供良好的信息网络环境,与有力的信息安全保障。
 


最安全排行榜
排名 城市 总分
1  香港 96.57
2  台北 95.36
3  深圳 93.28
4  拉萨 92.73
5  烟台 90.29

中国国际化城市排行榜

中新网12月10日电 据香港《星岛日报》网站消息, 香港在中国国际化城市排行榜中亦居首位。中国国际化城市排行方面,香港获92.01分,以0.6分险胜上海,而北京、澳门和广州排行第三、第四和第五位。研究会表示,国际化城市是指形成发达经济性开放主体,并通过整合世界资源进行持续发展的城市,特征是国际影响力大、经济发达、制度健全和城市具相当规模等。

最具竞争力经济新区浦东夺冠
至于,2013中国城市最具竞争力经济新区排名中,首三位分别是上海浦东新区排首位,天津滨海新区及重庆两江新区,深圳前海新区则排名第六。此外,在中国世界级大都市排行榜中,香港居首位,而上海、北京分别位列第二、第三位,台北位列第四位。评估包括城市规模、国际影响及对外开放指数等指标,主要涉及金融中心、跨国公司总部所在地及城市人口规模等。