DOCSLIB.ORG

Annual Report 2014

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2014 NIRVANA ASIA LTD NIRVANA (Incorporated in the Cayman Islands with limited liability) (Stock code: 1438) Annual Report 2014 ANNUAL REPORT 2014 Contents Corporate Information 04 Financial Highlights 06 Chairman’s Statement 08 Management Discussion and Analysis 11 Directors and Senior Management 26 Corporate Governance Report 34 Portfolio of Properties 44 Report of the Directors 49 Independent Auditors’ Report 62 Consolidated Statement of Profit or Loss and 64 Other Comprehensive Income Consolidated Statement of Financial Position 66 Consolidated Statement of Changes in Equity 68 Consolidated Statement of Cash Flows 69 Notes to the Consolidated Financial Statements 71 Portfolio Map Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Center, Semenyih and Nirvana Memorial Centre, Funeral Parlour & Corporate Shah Alam, Selangor. Kuala Lumpur City Center. Garden, Semenyih, Selangor. Office, Kuala Lumpur. China Huizhou Vietnam Laos Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Centre, Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Park, Kulai, Johor. Funeral Parlour, Johor Bahru, Johor. Segamat, Johor. Tiram, Johor. Thailand Ban Bueng Cambodia Penang Sabah Malaysia — Blissful-Nirvana Memorial Malaysia — Kek Lok Si West Lake Malaysia — Blissful-Nirvana Memorial Malaysia — Nirvana Memorial Park, Park, Bukit Mertajam, Penang. Garden Columbarium, Penang. Park, Sungai Petani, Kedah. Sabah, Sabah. Kuala Lumpur Selangor Malaysia Sibu Johor Singapore Indonesia Jakarta Malaysia — Nirvana Memorial Park, Singapore — Nirvana Columbarium. Indonesia — Lestari Memorial Park, Sibu, Sarawak. Jakarta. Thailand — Nirvana Memorial Park, China — Longyan Main Tower, Ban Bueng. Huiyang District, Huizhou City, Guangdong Province. Portfolio Map Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Center, Semenyih and Nirvana Memorial Centre, Funeral Parlour & Corporate Shah Alam, Selangor. Kuala Lumpur City Center. Garden, Semenyih, Selangor. Office, Kuala Lumpur. China Huizhou Vietnam Laos Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Centre, Malaysia — Nirvana Memorial Park, Malaysia — Nirvana Memorial Park, Kulai, Johor. Funeral Parlour, Johor Bahru, Johor. Segamat, Johor. Tiram, Johor. Thailand Ban Bueng Cambodia Penang Sabah Malaysia — Blissful-Nirvana Memorial Malaysia — Kek Lok Si West Lake Malaysia — Blissful-Nirvana Memorial Malaysia — Nirvana Memorial Park, Park, Bukit Mertajam, Penang. Garden Columbarium, Penang. Park, Sungai Petani, Kedah. Sabah, Sabah. Kuala Lumpur Selangor Malaysia Sibu Johor Singapore Indonesia Jakarta Malaysia — Nirvana Memorial Park, Singapore — Nirvana Columbarium. Indonesia — Lestari Memorial Park, Sibu, Sarawak. Jakarta. Thailand — Nirvana Memorial Park, China — Longyan Main Tower, Ban Bueng. Huiyang District, Huizhou City, Guangdong Province. Corporate Information BOARD OF DIRECTORS AUTHORIZED REPRESENTATIVES Executive Directors Mr. SOO Wei Chian Ms. NG Sau Mei Dato’ KONG Hon Kong (Managing Director and Chief Executive Officer) Mr. KONG Yew Foong JOINT COMPANY SECRETARIES Mr. SOO Wei Chian Mr. KONG Yew Lian Ms. CHEN Huey Jiuan Non-Executive Directors Ms. NG Sau Mei Dato’ FU Ah Kiow @ Oh (Fu) Soon Guan (Chairman) Mr. LI Gabriel AUDITORS Mr. ANG Teck Shang Mr. TSE Po Shing Andy (Mr. BARNES II, William Wesley Deloitte as his alternate) Independent Non-Executive Directors LEGAL ADVISOR Tan Sri CHAN Kong Choy Sullivan & Cromwell Mr. NG Soon Lai @ Ng Siek Chuan Mr. FOONG Soo Hah Ms. Anita CHEW Cheng Im COMPLIANCE ADVISER AUDIT COMMITTEE REORIENT Financial Markets Limited Mr. NG Soon Lai @ Ng Siek Chuan (Chairman) INVESTOR AND MEDIA RELATIONS Mr. FOONG Soo Hah Ms. Anita CHEW Cheng Im iPR Ogilvy Ltd. REMUNERATION COMMITTEE REGISTERED OFFICE Tan Sri CHAN Kong Choy (Chairman) 4th Floor, Harbour Place Dato’ KONG Hon Kong 103 South Church Street, George Town Mr. TSE Po Shing Andy P.O. Box 10240, Grand Cayman KY1-1002 Mr. NG Soon Lai @ Ng Siek Chuan Cayman Islands Mr. FOONG Soo Hah NOMINATION COMMITTEE Mr. FOONG Soo Hah (Chairman) Mr. KONG Yew Foong Mr. LI Gabriel Mr. NG Soon Lai @ Ng Siek Chuan Ms. Anita CHEW Cheng Im NIRVANA ASIA LTD 04 Annual Report 2014 Corporate Information (Continued) HEADQUARTERS IN MALAYSIA PRINCIPAL BANKERS Level 3A, Wisma Nirvana DBS Bank Ltd No. 1, Jalan 1/116A, Off Jalan Sungai Besi 57100 Kuala Lumpur, Malaysia CIMB Bank Berhad HEADQUARTERS IN INDONESIA COMPANY’S WEBSITE Unit 12 J-K, Gedung Hayam Wuruk, http://www.nirvana-asia-ltd.com Jalan Hayam Wuruk, 108 Jakarta Barat, 11160 Indonesia STOCK CODE HEADQUARTERS IN SINGAPORE 1438 950 Old Choa Chu Kang Road Singapore 699816 DATE OF LISTING HEADQUARTERS IN THAILAND December 17, 2014 213/1–2, 5th FL. (MRT Sutthisan) Ratchadaphisek Rd. Din Daeng, Din Daeng Bangkok, 10400 Thailand PRINCIPAL PLACE OF BUSINESS IN HONG KONG 36th Floor, Tower Two, Times Square 1 Matheson Street, Causeway Bay Hong Kong CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Harneys Services (Cayman) Limited 4th Floor, Harbour Place 103 South Church Street, George Town P.O. Box 10240, Grand Cayman KY1-1002 Cayman Islands HONG KONG SHARE REGISTRAR Computershare Hong Kong Investor Services Limited Shops 1712–1716 17th Floor, Hopewell Centre 183 Queen’s Road East Wanchai, Hong Kong NIRVANA ASIA LTD Annual Report 2014 05 Financial Highlights Year ended December 31, 2011 2012 2013 2014 USD’000 USD’000 USD’000 USD’000 Revenue 116,832 124,161 139,715 165,064 Contract sales 143,087 160,377 182,560 206,703 EBITDA1 29,984 41,615 55,602 56,124 Adjusted EBITDA2 31,085 43,901 55,008 65,010 Profit for the year 18,378 28,377 37,789 37,832 Adjusted profit for the year2 19,479 30,663 37,195 46,718 Profit for the year attributable to owners of the Company 17,185 24,953 35,289 35,764 Adjusted profit for the year attributable to owners of the Company2 18,286 27,239 34,695 44,650 Basic earnings per ordinary share (US cents per ordinary share) 0.89 1.30 1.84 1.74 Adjusted basic earnings per ordinary share (US cents per ordinary share)2 0.95 1.42 1.81 2.18 1 EBITDA is calculated by adding finance cost and depreciation and amortisation to profit before taxation. 2 Adjusted to exclude (a) USD3.28 million in share-based payment expenses in 2014 (2013: USD1.34 million; 2012: NIL; 2011: NIL), (b) USD5.29 million Listing expenses in 2014 (2013: NIL; 2012: NIL; 2011: NIL), (c) USD0.32 million of other expenses relating to the Listing in 2014 (2013: NIL; 2012: NIL; 2011: NIL), (d) provision for quit rent and assessment in 2011 and 2012 of USD1.10 million and USD2.29 million, respectively, and (e) reversal of provision for quit rent and assessment of USD1.94 million in 2013, which are non-recurring. As at December 31, 2011 2012 2013 2014 USD’000 USD’000 USD’000 USD’000 Non-current assets 76,696 91,932 99,107 120,277 Current assets 185,611 185,219 197,047 489,831 Non-current liabilities 111,041 123,749 125,610 118,797 Current liabilities 138,749 119,213 112,147 168,046 Net assets 12,517 34,189 58,397 323,265 NIRVANA ASIA LTD 06 Annual Report 2014 Financial Highlights (Continued) NIRVANA ASIA LTD Annual Report 2014 07 Chairman’s Statement Dato’ Fu Ah Kiow Chairman On behalf of the board (the “Board”) of directors (the “Directors”) of Nirvana Asia Ltd (the “Company”), I am pleased to present the financial results of the Company and its subsidiaries (the “Group”) for the year ended December 31, 2014. The successful listing of the Company on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on December 17, 2014 (the “Listing”) marked another important milestone for the Group. This new platform will not only provide opportunities for the group to tap into the capital markets but will also pose new challenges to and create higher expectations for its business performance. BUSINESS PERFORMANCE We are proud to be the largest integrated death care service provider in Asia in terms of contract sales, revenue and land bank in 2013, according to Frost & Sullivan. The Group’s leading status in Asia is reflected in its total of 10 cemeteries, 12 columbarium facilities, 2 funeral homes and 6 on-site crematoria in Malaysia, Singapore and Indonesia. In February 2015, the Group has entered into a binding cooperation agreement with Huizhou Longyan Art Cemetery Development Co., Ltd. which marked our maiden foray into the China market. To add another feather to our cap, in March 2015, we acquired a tomb design and construction business for our 6 memorial parks in Malaysia. We believe this downstream acquisition would create synergies with the Group’s existing death care services and enhance the gross profit margin of the Group’s tomb design and construction segment. NIRVANA ASIA LTD 08 Annual Report 2014 Chairman’s Statement (Continued) In the past, the Group had carried out various social responsibility initiatives in educating the public to uphold the Chinese traditional values, cultural heritage and filial piety. The Group will continue to place a strong emphasis in carrying out such initiatives as we believe our ongoing support of local communities in the markets where we operate is critical to our reputation and success. FINANCIAL HIGHLIGHTS 2014 has been another year of achievement for the Group. The Group’s revenue increased by 18.2% to USD165.1 million (2013: USD139.7 million). The Group’s profit for the year attributable to owners of the Company for the year ended December 31, 2014 amounted to USD35.8 million compared with USD35.3 million for the year ended December 31, 2013. If non-recurring items such as (a) share-based payment expenses, (b) Listing expenses, (c) other expenses relating to the Listing, and (d) reversal of provision for quit rent were to be excluded, the adjusted profit for the year attributable to the owners of the Company for the year ended December 31, 2014 would be USD44.6 million, representing an increase of 28.5% as compared with USD34.7 million for the year ended December 31, 2013.
Load more

Recommended publications
  • The Port Factor
    A S E A N P O R T S A S S O C I A T I O N M A L A Y S I A VOLUME 2, 2006 THE PORT FACTOR FEDERAL MINISTER OF TRANSPORT VISITS NEW SAPANGAR BAY CONTAINER PORT On the 21st May 2007, Sapangar Bay Container Port (SBCP) was graced with the visit of the federal Transport Minister Da- tuk Seri Chan Kong Choy. Datuk Seri Chan Kong Choy was briefed by Suria Capital Holdings Berhad' Group Managing Director, Datuk Hj. Abu Bakar Hj. Abas on the current progress of the states newly built container port. It was announced that SBCP was ready for operation on 1st June 2007 and shifting of the containerization activity from KK port to Sapangar would commence on the mentioned date. Among the issues that were highlighted in the briefing was the impressive development of the ports in Sabah, in particular Kota Kinabalu port, which had grown in terms of container through- put. An increase of almost 8.5% was recorded in KK Port from a total of 141 969 teus (in 2005) to 153 793 teus (in 2006) and for the first quarter of 2007, a growth of 20% container throughput was achieved. In addition, the container rate productivity had significantly increased to 18 boxes an hour and is expected to reach 20 - 22 boxes per hour upon the operation of SBCP. Datuk Seri Chan Kong Choy hailed these improvements as phenomenal and cited the crucial role of crane productivity in terms of faster turnaround time which will attract vessels to SBCP.
    [Show full text]
  • A Abang-Adik Relationship, 85 Abdul Ghani Othman, 133 Abdul Rahman
    Index 265 INDEX A ASEAN Post-Ministerial Conference abang-adik relationship, 85 (PMC), 182 Abdul Ghani Othman, 133 ASEAN Regional Forum (ARF), 182 Abdul Rahman, Tunku see Tunku Asia Europe Meeting (ASEM), 222 Abdul Rahman Asia-Pacific Economic Cooperation Abdul Razak bin Hussein, 3, 44 (APEC), 182, 222 Abdullah Ahmad, 107 Asian Development Bank, 201 Abdullah Badawi, 4, 47 Asian Development Outlook, 201 cancellation of bridge project, 133 Asian economic crisis Abdullah Sungkar, 192 responses, 220, 221 Abu Bakar Basyir, 192 Asian financial crisis, 46, 143 Abu Bakar Association of Southeast Asian Nations son of Temenggung Ibrahim, 34 (ASEAN), 144 Abu Sayaff group, 193 avian flu, 48 Air Asia Azalina Othman Said, 131 components of, 100 use of Johor as hub, 135 B Al-Hazmi, Nawaf, 192 Baitulmal (Alms Collection Agency), Al-Midhar, Khalid, 192 188 Al-Mukmin Islamic School, 192 Bank Negara Malaysia Al-Qaeda networks, 192 allowing foreign ownership in All-Malaya Council of Joint Action Islamic Banks, 202 (AMCJA), 40 Barisan Sosialis, 65, 141 Alliance Party, 6 fear of it assuming power in UMNO-led, 41 Singapore, 102 AMCJA-PUTERA alliance formation, 101 People’s Constitional Proposal for merger campaign, 56, 57 Malaya, 40 bilateral relationship anak raja, 31 effect of leadership, 143 Anderson, John, 95 major issues, 84, 85 Anglo-Dutch Treaty, 127 bilateral trade, 213, 214 Anglo-Malayan Defence Agreement Binnell, T., 135 (AMDA), 146, 164, 171, 180 Bourdillon, H.T., 13 ASEAN Community Brassey, Lord, 41 goal of creating, 89 bridge issue, 47 ASEAN Declaration
    [Show full text]
  • List of Ministers, Deputy Ministers and Parliamentary Secretaries
    09 JAN 1999 LIST OF MINISTERS, DEPUTY MINISTERS AND PARLIAMENTARY SECRETARIES: Prime Minister: Datuk Seri Dr Mahathir Mohamad Deputy Prime Minister: Datuk Seri Abdullah Haji Ahmad Badawi Minister of Special Functions: Tun Daim Zainuddin Ministers in the Prime Minister's Department: Datuk Abdul Hamid Othman Datuk Tajol Rosli Ghazali Datuk Chong Kah Kiat Datuk Dr Siti Zaharah Sulaiman Deputy Minkster: Datuk Ibrahim Ali Deputy Minister: Datuk Fauzi Abdul Rahman Deputy Minister: Datuk Othman Abdul Parliamentary Secretary: Datuk Mohamed Abdullah Minister of Finance: Tun Daim Zainuddin Second Finance Minister: Datuk Mustapa Mohamed Deputy Minister: Datuk Mohamed Nazri Abdul Aziz Deputy Minister: Datuk Wong See Wah Parliamentary Secretary: Datuk Dr Shafie Mohd Salleh Minister of Human Resources: Datuk Lim Ah Lek Deputy Minister: Datuk Dr Affifuddin Omar Minister of Home Affairs: Datuk Seri Abdullah Ahmad Badawi Deputy Minister: Datuk Abdul Kadir Sheikh Fadzir Deputy Minister: Datuk Ong Ka Ting Foreign Minister: Datuk Seri Syed Hamid Albar Deputy Minister: Datuk Dr Leo Michael Toyad Defence Minister: Datuk Abang Abu Bakar Mustapha Deputy Minister: Datuk Dr Abdullah Fadzil Che Wan Minister of Health: Datuk Chua Jui Meng Deputy Minister: Datuk Wira Ali Rustam Parliamentary Secretary: Datuk M Mahalingam Transport Minister: Datuk Seri Dr Ling Liong Sik Deputy Minister: Datuk Ibrahim Saad Parliamentary Secretary: Datuk Chor Chee Heung Minister of Youth and Sports: Tan Sri Muhyiddin Yassin Deputy Minister: Datuk Loke Yuen Yow Parliamentary Secretary:
    [Show full text]
  • Countries at the Crossroads 2012: Malaysia
    COUNTRIES AT THE CROSSROADS Countries at the Crossroads 2012: Malaysia Introduction Malaysia has over 28 million people, of whom approximately 63 percent are ethnic Malay, 25 percent Chinese, 7 percent Indian, and 4 percent Ibans and Kadazan-Dusun.1 Much of this diversity was created through the British formation of an extractive colonial economy, with the “indigenous” Malay community ordered into small holdings and rice cultivation, while the “non-Malays” were recruited from China and India into tin mining and plantation agriculture. Further, in preparing the territory for independence in 1957, the British fashioned a polity that was formally democratic, but would soon be encrusted by authoritarian controls. Throughout the 1960s, greater urbanization brought many Malays to the cities, where they encountered the comparative prosperity of the non-Malays. They perceived the multiethnic coalition that ruled the country, anchored by the United Malays National Organization (UMNO), but including the Malayan Chinese Association (MCA) and the Malayan Indian Congress (MIC), as doing little to enhance their living standards. At the same time, many non-Malays grew alienated by the discrimination they faced in accessing public sector resources. Thus, as voters in both communities swung to opposition parties in an election held in May 1969, the UMNO-led coalition, known as the Alliance, was gravely weakened. Shortly afterward, Malays and Chinese clashed in the capital, Kuala Lumpur, sparking ethnic rioting known as the May 13th incident. Two years of emergency rule followed during which parliament was closed. As the price for reopening parliament in 1971, UMNO imposed new curbs on civil liberties, thereby banning any questioning of the Malay “special rights” that are enshrined in constitution’s Article 153.
    [Show full text]
  • Directors, Senior Management and Employees
    THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THAT THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES DIRECTORS The Board currently consists of 12 Directors, comprising four executive Directors, four non-executive Directors and four independent non-executive Directors. The functions and duties of the Board include convening Shareholders’ meetings, reporting on the Board’s work at these meetings, implementing the resolutions passed at these meetings, determining business and investment plans, formulating our annual budget and final accounts, and formulating our proposals for profit distributions. The following table sets forth certain information in respect of our Directors: Date of Date of Roles and appointment joining our responsibilities in Name Age Position as Director Group our Group Dato’ FU Ah Kiow @ 65 Chairman and non- October 2013 February 2009 Providing strategic Oh (Fu) Soon Guan executive Director advice and guidance (拿督胡亞橋*)..... on the business development of our Group Dato’ KONG Hon 59 Managing October 1990 September 1990 Formulating the Kong (拿督鄺漢光*) . Director, executive overall development Director and chief strategies and executive officer business plans of our Group Mr. KONG Yew Foong 35 Executive Director August 2008 August 2003 Overseeing the (鄺耀豐*)........ management of the business operations of our Group Mr. SOO Wei Chian 45 Executive Director August 2005 September 1995 Overseeing the (蘇偉權*)........ overall business planning and development, finance and human resources affairs of our Group Mr. KONG Yew Lian 32 Executive Director January 2011 June 2005 Overseeing the (鄺耀年*)........ overall marketing planning, products branding and media relations of our Group Mr.
    [Show full text]
  • Malaysian News: Auto Fuel, Car Sales, Public Transit, Ports September 23, 2004
    Malaysian News: Auto fuel, car sales, public transit, ports September 23, 2004 1. Calls have been made to move the nation's auto fleets towards becoming diesel driven, similar to Europe, in move to reduce emissions and costs 2. Car sales continue to increase, with non-national brand sale increases outpacing national brand sale increases 3. About 65% of KL's public transit capacity for rail and buses will be nationalized under a new agency. The purpose is to provide more integration and coordination of physical infrastructure, fare structure, routes and scheduling. This is a big change from the many separate privately owned rail and bus lines! 4. Port Klang's throughput continues to grow 5. Port Klang is moving to a new system of tracking cargo that requires shipping agents to provide additional information on freight. Shipping agents are refusing to provide new information and resulting impass could cause massive delays in Port Klang when new system is implemented Oct. 1. 6. Malaysia port has new system to route and inspect cargo in more automatic manner, but also has backup plan in place in case new system fails ******************************************************** ***1. Calls for move towards diesel as private auto fuel*** ******************************************************** http://www.bernama.com/ September 22, 2004 18:39 PM Call For Use Of More Diesel-Powered Engines KUALA LUMPUR, Sept 22 (Bernama) -- Tan Lian Hoe (BN-Bukit Gantang) Wednesday called for more use of diesel-powered engines as the fuel is cheaper than petrol. Tan said diesel was cheaper and cleaner, and engines which used the fuel emitted less noxious gas as compared to the more expensive petrol which produced a lot of carbon monoxide.
    [Show full text]
  • The Chinese Education Movement in Malaysia
    INSTITUTIONS AND SOCIAL MOBILIZATION: THE CHINESE EDUCATION MOVEMENT IN MALAYSIA ANG MING CHEE NATIONAL UNIVERSITY OF SINGAPORE 2011 i 2011 ANG MING CHEE CHEE ANG MING SOCIAL MOBILIZATION:SOCIAL INSTITUTIONS AND THE CHINESE EDUCATION CHINESE MOVEMENT INTHE MALAYSIA ii INSTITUTIONS AND SOCIAL MOBILIZATION: THE CHINESE EDUCATION MOVEMENT IN MALAYSIA ANG MING CHEE (MASTER OF INTERNATIONAL STUDIES, UPPSALA UNIVERSITET, SWEDEN) (BACHELOR OF COMMUNICATION (HONOURS), UNIVERSITI SAINS MALAYSIA) A THESIS SUBMITTED FOR THE DEGREE OF DOCTOR OF PHILOSOPHY DEPARTMENT OF POLITICAL SCIENCE NATIONAL UNIVERSITY OF SINGAPORE 2011 iii ACKNOWLEDGEMENTS My utmost gratitude goes first and foremost to my supervisor, Associate Professor Jamie Seth Davidson, for his enduring support that has helped me overcome many challenges during my candidacy. His critical supervision and brilliant suggestions have helped me to mature in my academic thinking and writing skills. Most importantly, his understanding of my medical condition and readiness to lend a hand warmed my heart beyond words. I also thank my thesis committee members, Associate Professor Hussin Mutalib and Associate Professor Goh Beng Lan for their valuable feedback on my thesis drafts. I would like to thank the National University of Singapore for providing the research scholarship that enabled me to concentrate on my thesis as a full-time doctorate student in the past four years. In particular, I would also like to thank the Faculty of Arts and Social Sciences for partially supporting my fieldwork expenses and the Faculty Research Cluster for allocating the precious working space. My appreciation also goes to members of my department, especially the administrative staff, for their patience and attentive assistance in facilitating various secretarial works.
    [Show full text]
  • Malaysian News: Transit Agency Integration, Toll Roads, Buses, Proton, Ports October 4, 2004
    Malaysian News: transit agency integration, toll roads, buses, proton, ports October 4, 2004 1. A new bill has been introduced to the legislature to consolidate all public transportation functions previously divided over 10 agencies into one new agency for KL. 2. The Malaysian government has been paying toll road owners compensation over the last 5 years so that tolls would be increased at a slower rate. This may raise questions as to how fiscally feasible the private toll road industry in Malaysia is and what concessions have to be given for new toll road construction. 3. SHort opinion piece describing buses that stop so that the drivers can solicit riders as a nuisance that should be reduced or eliminated 4. Some school bus operators increase fares without permission - good example of difference between US and Malaysia - also discussion of process for resolving this issue 5. Discussion of pros and cons of proposed Proton merger with foreign auto company 6. Proton has been looking for a foreign auto manufacturer to partner with - current belief is that Proton will partner ith VW, in a move rewarded by Malaysian market 7. This is a follow up article from a couple of weeks ago - shippers and agents had previously refused to input container data into new data tracking system at ports and threatened to shut down ports when new system came online. The system came on line over the weekend and the shippers and agents backed down and are supplying the necssary information 8. More stats for container throughput for major Malaysian ports ************************************************************************ *** ***1.
    [Show full text]
  • Chan Kong Choy: from Lecturer to Minister
    24 JUN 2003 Profile-Chan CHAN KONG CHOY: FROM LECTURER TO MINISTER KUALA LUMPUR, June 24 (Bernama) -- The Year of the Goat may have been a lucky year for former lecturer Datuk Chan Kong Choy. A month after succeeding his mentor Datuk Seri Lim Ah Lek as MCA deputy president, Chan today took another step up the political ladder when Prime Minister Datuk Seri Dr Mahathir Mohamad announced his appointment as Transport Minister, the post previously held by former MCA president Datuk Seri Dr Ling Liong Sik. Born on May 17, 1955 in Bentong, Pahang, Chan had his first taste of politics when the then MCA vice-president and Health Minister Tan Sri Chan Siang San lured him out of Universiti Pertanian Malaysia (now Universiti Putra Malaysia - UPM) and made him his political secretary in 1986. Chan had his early education at Khai Mun Primary School, Bentong before continuing his studies in Catholics High School and Sulaiman Secondary School, also in Bentong. He continued his upper secondary education at the Tunku Abdul Rahman College in Setapak before going to Universiti Malaya (UM) and obtained a first-class bachelor's degree in Chinese Studies. For this, he received the UM Chancellor's Award for Excellence. Upon completing a Diploma in Education course at the same university in 1980, Chan took up lecturing at UPM where he played a key role in setting up the Foreign Language Department. Five years down the road, he took up the political secretary post before being picked to contest the Tanah Rata state seat in the 1986 general election where he beat DAP's Poon Man Kem with over 1,800 votes in majority.
    [Show full text]
  • Idss Commentaries
    IDSS COMMENTARIES (06/2003) IDSS Commentaries are intended to provide timely and, where appropriate, policy relevant background and analysis of contemporary developments. The views of the authors are their own and do not represent the official position of IDSS. ___________________________________________________________________________ CRISIS OF CHINESE POLITICS IN MALAYSIA’S RULING COALITION Joseph Liow* 12 March 2003 Introduction Recent intramural crises in the two Chinese partners of Malaysia’s ruling Barisan Nasional (BN) or National Front have raised questions about the future of Chinese parties in the multiracial coalition. Indeed the current twists in the long-standing factional conflicts in the Malaysian Chinese Association and the related tensions between MCA and Gerakan Rakyat Malaysia, may even threaten BN’s continued relevance in Malaysian politics. With dissent brewing in the dominant Malay partner, UMNO (United Malays National Organisation), over the leadership succession after Prime Minister Mahathir Mohammad’s departure, and the still-smarting political wounds after its 1999 election reverses, the internal crises in MCA and the quarrels between MCA and Gerakan, are bound to have a detrimental impact on BN’s political fortunes. Some unnerving signs have already surfaced. At the November 2000 Lunas by- election in Kedah, a constituency with a substantial number of Chinese voters, it was Chinese votes, ironically, that delivered the seat to the Malay opposition candidate from Parti Keadilan. In assessing the future of Chinese politics in the coalition, three ongoing issues dominate: (1) internal crisis within the MCA, (2) MCA-Gerakan tensions, and (3) the interest and encroachment of UMNO into Chinese politics within the BN. A critical question is whether the MCA under a new leadership will continue to be willing to play a subservient role or press for more concessions from UMNO in the interests of the Chinese community.
    [Show full text]
  • Abdul Ghaffur
    A compilation of papers at the 1st National Maritime Conference Preface by................ Malaysia As A Maritime Nation: Meeting Expectations 1 A compilation of papers at the 1st National Maritime Conference Speeches 2 Malaysia As A Maritime Nation: Meeting Expectations A compilation of papers at the 1st National Maritime Conference Welcome Address by Sitpah Selvaratnam Co Chair, Organising Committee Yang berhormat Minister of Transport Dato Seri Chan Kong Choy, Yng Berbahagia Tan Sri Abdul Gani Patail, The Attorney General of Malaysia, Mr Yeo Yang Poh, Presdent of the Malaysian Bar, Honourable Judges, distinguished guests, ladies and gentlemen. We are, on behalf of the co-chair from the Attorney General’s Chambers and the rest of the organising committee, warmly welcome you to this national maritime conference. To see a sea of maritime faces here exceeding in numbers gives me great pleasure. This marks the realisation of the shipping and the admiralty law committee of the Bar Council to have all sectors in the Maritime industry for the common objectives of collectively aspiring and inspiring maritime reform. For this day we have many to thank, first and foremost Yang Berhormat Najib Tun Abdul Razak for agreeing to open the conference and delivering the key note address which is a significant endorsement for reform. Although we are deprived of Yang Berhormat’s physical presence today, we are grateful to Yang berhormat Dato’ Sri Chan Kong Choy for representing Yang Berhormat Najib Tun Razak at this opening. We thank the Attorney General for unhesitatingly accepting the Bar’s invitation to co-host this conference and providing all resources in support for this cause, Petronas and MISC for their most generous sponsorship that put an end to the committee’s sleepless nights, and for the conference registration fee to be heavily subsidised to encourage maximum participation here today.
    [Show full text]
  • Dr M Consulted on Reinstatement of Two Assemblymen, Says Mca Chief
    12 JUL 2003 MCA-Assemblymen DR M CONSULTED ON REINSTATEMENT OF TWO ASSEMBLYMEN, SAYS MCA CHIEF KUALA LUMPUR, July 12 (Bernama) -- The MCA had consulted Barisan Nasional (BN) chairman Datuk Seri Dr Mahathir Mohamad before lifting the suspension of two of its state assemblymen in Penang, MCA president Datuk Seri Ong Ka Ting said today. Ong said he had personally met Dr Mahathir to get his views before bringing the matter to the MCA Presidential Council meeting last Thursday. At the meeting, the Presidential Council decided to lift the suspension of Lim Boo Chang (Datuk Keramat) and Tan Cheng Liang (Jawi), which was imposed on Dec 16 last year. "He (Dr Mahathir) agreed. I informed the Prime Minister before MCA (Presidential Council) met. Of course, I had sought the views of the BN chairman; I would not have done it without consultation," he told reporters after launching a book entitled "Shui Qing Shi Zi Jian" (The Rocks Are Visible In The Clear Water) at Wisma MCA here. The book is a collection of articles on current issues written by Loh Seng Kok, who was political secretary to former MCA president Datuk Seri Dr Ling Liong Sik. Ong was asked to comment on Deputy Prime Minister Datuk Seri Abdullah Ahmad Badawi's statement that he would have no objection to the MCA's decision to lift the suspension if it had been discussed with the state BN. Abdullah, who is BN deputy chairman, said MCA should understand that the decision to suspend the two was made by the BN, and as such any move to change it should be referred to the coalition, especially at the state level.
    [Show full text]