Asian Hot Shots Berlin: Berlin’s most exciting Asian film festival!

Since its inauguration in 2008 Asian Hot Shots Berlin has been introducing Asian independent film to the city. A supporter especially of Southeast Asian film, Hot Shots was the first German festival to give overviews over the actual PHILIPPINE, INDONESIAN and SINGAPORIAN film scenes in its respective editions in 2008 , 2009 and 2010.
Asian Hot Shots Berlin – the festival for young Asian cinema takes place from the 9th to 11th of September at cinema Moviemento in Berlin Kreuzberg. Whether it’s animation or videoart, fiction or documentary, Japan or Korea – the filmfestival Asian Hot Shots Berlin represents  independent asian cinema beyond the mainstream: young, fresh, artistic and political films are presented to the audience.

This year there will be a packed film program with over 40 movies, shorts and documentaries – this year the festival focuses on experimental film and video art. Asian Hot Shots Berlin is a festival for discoveries, where we can see the »Young Asian Cool« filmmakers who were once an insider‘s tip and now become award winners at international film festivals. The festival also stands for Berlin‘s creativity – here you can meet tomorrow‘s stars. The festival gives a deep insight into the electrifying art scene of Asia – from Japan, China, India, Vietnam, South-korea, Singapore, Malaysia, Indonesia, Philippines or Thailand – directly to Berlin Kreuzberg. Over the past few years, more and more Asian artists from Tokyo, Bangkok or Beijing have moved into the vibrant metropolis Berlin. Also their films can be found in the program.

Since 2007 the green chilies team around Laura Coppens, Tina Lange and Maria Römer are being involved with young Asian cinema. The organisers met while working at different festivals and decided to get their own festival off the ground. In 2008 the first Asian Hot Shots Berlin – Festival for Film and Video Art was born. Since then it became an institution. A growing fan base of Asian culture and film enthusiasts meet every year to discover new films and partake in a cultural exchange at Asian Hot Shots Berlin.

Take a look at this promo video they did for the 2009 edition…one of the most entertaining promo video’s we have ever seen:

ROYAL ENDORSEMENT: Thailand's first female Prime Minister Yingluck Shinawatra pays respect before a portrait of King Bhumibol Adulyadej

ROYAL ENDORSEMENT: Thailand's first female Prime Minister Yingluck Shinawatra pays respect before a portrait of King Bhumibol Adulyadej, as she receives the royal command, at the Pheu Thai party headquarters in Bangkok on August 8. AFP

Khmer Krom Dragons Wins Gold at Tampa Bay [-Congratulations to our Khmer Krom brothers and sisters!]

Khmer Krom Dragon, Boat 5 races to the finish line and takes home Gold.

Written by: Cathleen Phimorong Kim
Long Beach, California
Source: http://www.khmerkrom.net/node/4271

The 2011 International Dragon Boat Federation (IDBF) held their 1st Pan American Club Crew Championship (PACCC) in Tampa, Florida on July 30-31. It was a two day competition where it consisted of 200 meters, 500 meters and 2000 meters at the Seddon Channel in front of the convention center. This was the first time IDBF had made this competition a 10 man dragon boat (small boat) consisting of 12 paddlers (including steer person & drummer). There were different Club dragon boat teams throughout the Pan American regions and international countries that participated in this competition.

This was a new race venue for me and for the Khmer-Krom Dragons (KKD). The KKD team is from Seattle/Tacoma, Washington with members ranging from 16 years old to early 50s. While some of the paddlers were of a different ethnicity, they paddle together in unity to represent Khmer-Krom. I was their guest female paddler from Long Beach, California, who paddles with Los Angeles Racing Dragon (LARD). I am also Khmer-Krom and to be invited to paddle with KKD was an honor to me.

The first race day (Saturday) was the 200 meters race followed by the 2000 meters in the late afternoon. Upon arrival to the race venue I was surprised to see many members of the Khmer-Krom community looking very excited about the KKD races. Prior to the start of the race, we were all given a traditional blessing by Khmer-Krom monks, Venerable Chantha, Venerable Danh Tol and Venerable Kim Moeun. Our Open Premier team (consisted mostly of youth male paddlers & one 16 years old female paddler) was the first group to race that morning. We came second in the semi-finals. In the finals, we finished second after the Excellent Stores Titians (Spain) with a time of 57.12 seconds. The Open Mixed team (consisted of the adult paddlers with a minimum of 4 female paddlers) was second in the semi-finals and advanced to the grand final.

In an exciting race from start to finish, our team came first with a time of 59.49 seconds beating the Red Dragons Miami by less than one second. In the late afternoon the Open Mix participated in the 2000 meters race paddling two laps in a semi square/oval race course (500 meters length & width). This race was based on time to see who places overall first, second and third.

The 500 meters race was held on Sunday. Since it was the first time for KKD to race a 10 man boat it made the race even more challenging. Our Open Premier (men squad) team came fourth in the semi-finals, but we still had time to redeem ourselves in the finals. Our Open Mix team came second in the semi-finals, which demonstrated to our men squad team to watch and learn to be prepared for their final race. How did the mix team teach the men squad? It was a slight change of the line up in the seating arrangement of the boat. Cel (female paddler) and I were moved up to stroke because we were more experienced. Earlier in the 2000 meters race we were placed together in the boat where it made the race less intense, but more calm thus eliminating any problems that may occur during the race. The coach made the decision to keep this same line up for the 500 meters. As a result of the move our Open Mix team placed second and advanced onto the grand finals. Learning through observation our men squad team went into the finals and came in second overall.

When our mix team was preparing for our heat, thunderstorms put a halt to the races for over an hour. During that time, the IDBF did the award ceremony for the 200 meters. When they called the team to receive the first place (mix team) & second place (men team) medals, our paddlers and supporters erupted in cheers. After all of the awards were given, the weather was finally calm enough for the 500 meters race to continue. At this point of the race the open mix competition was not an easy one. It was a challenging heat where KKD was up against 5 other top teams and that meant it was a fight to the finish. The intensity and aggression from all 6 boats made it a neck to neck race where it was hard to tell who came in what place. Unfortunately, the KKD Open Mix team did not medal in the final, but we took that experience to know what it takes for future races. However, the KKD Open Premier took home a silver medal.

Overall, what made both days of racing amazing was how many supporters we had from our Khmer-Krom community. Over 100 supporters from Orlando, St Petersburg, Philadelphia, Arizona, California and many other states flocked to Tampa Bay to see our Khmer Krom Dragons race. An unforgettable sight for me was seeing our Khmer Krom people proudly wave our flags from the starting line and then to hear them cheer louder as we reached the finish line. It is this type of support that gives our team the energy to be “winners.” We took home one Gold and two Silver medals.

Thank you to everyone in KYA & KKF for their moral and financial support as well as the accommodation for the past two days. Also, a special thanks to KKD for inviting me to participate with your team and making me part of your family.

Wikileaks: UN discussed dropping #003

You Bunleng (L) and Siegfried Blunk (R)

United Nations officials discussed shutting down Cambodia’s war crimes tribunal without hearing a politically sensitive case involving two former Khmer Rouge leaders, according to a classified US diplomatic cable disclosed by Wikileaks.

3 August 2011

By Jared Ferrie, Bangkok

International Justice Desk (RNW)

“We expected, to a degree, the Cambodian personnel to align unquestioningly with the dictates of Cambodian politics,” said Theary Seng, a Khmer Rouge victim and activist who wrote Daughter of the Killing Fields. “But what is totally unacceptable and sickening is the UN succumbing to the same domestic politics.”

The case – known as 003 – is at the centre of a controversy that has observers questioning the court’s ability to act independently of pressure from the Cambodian government, which has repeatedly said it will not allow the trial to go forward.

Victims were outraged when investigating judges announced on April 29 the conclusion of the investigation into 003, despite failing to interview witnesses or even the suspects themselves, or inspecting potential mass grave sites.

Observers accused judges of failing to properly investigate 003, because they were reluctant to turn up evidence that would force the case go to trial. Many suspected the investigative judges’ handling of the case was evidence that the UN had made an internal decision not to bring the case to trial at the tribunal.

The judges have strongly denied such claims, and the UN insists there has been no internal decision to shut down the case.

“The United Nations categorically rejects media speculation that we have instructed the Co-Investigating Judges to dismiss Case 003,” said UN Secretary General Ban Ki-moon in June 14 statement. He added that the UN would ensure that the court “has sufficient resources to undertake its work.”

Cable records talk of killing case

But a cable from the US embassy in Phnom Penh, recently released by the anti-secrecy group Wikileaks, indicates that UN officials did discuss removing 003 from the tribunal’s caseload.

During a January 11, 2010, meeting of donors to the tribunal, Knut Rosandhaug, a UN court administrator, cited funding concerns. And, according to the cable, he “broached the subject of transferring case 003 to the domestic court to further reduce the total amount required to the tribunal.”

Such a move would indeed reduce the financial burden of the court, which continually struggles to find funding. But doing so would also undoubtedly kill the problematic case, as Cambodia’s legal system is infamously corrupt and controlled by the very government that opposes 003.

Alex Bates, a former prosecutor at the tribunal, said UN officials would have long foreseen difficulties arising with 003 and made contingency plans.

“With all the people in the UN – and they’ve got some good people there who would have thought long and hard about how this will play out – you have to think this was some form of predetermined strategy,” said Bates.

Legal staff under pressure

The implications of any strategy to transfer 003 to domestic courts would have been obvious. “The judges and the prosecutors are completely in the hands of their political masters,” Bates said of Cambodia’s legal system.

He added that Cambodian employees at the tribunal – a hybrid of national and international legal systems that employs dual staff at every level – did not escape such political pressure.

“It cannot be underestimated how much my former Cambodian colleagues were being scrutinized by the people in power,” said Mr Bates. “Nothing happens in Cambodia without the approval of the CPP (the ruling Cambodian People’s Party).”

Suspects were high-level cadres

Case 003 involves former Khmer Rouge Air Force Commander Sou Met and Navy Commander Meas Mut, according to a confidential court document leaked to journalists. Both men were also influential members of the regime’s communist party, prosecutors claimed in the document.

“In particular, Sou Met and Meas Mut participated in a criminal plan to purge the RAK [Revolutionary Army of Kampuchia] of all undesirable elements, which resulted in at least thousands and quite probably tens of thousands of deaths,” prosecutors alleged.

Given the seriousness of the charges, the senior rank of the suspects, and the detailed case built by prosecutors, many questioned why judges failed to perform an exhaustive investigation. Watchdog groups including the Open Society Justice Initiative called on the UN to hold an inquiry into the conduct of the co-investigating judges, Cambodian You Bunleng and German Siegfried Blunk.

Officials can’t quell concern

The UN refused to launch such a probe. And the judges maintained in a May 26 statement that they “have worked independently from outside interference, and will continue to resist all such attempts and are resolved to defend their independence against outside interference, wherever it may come from.”

In his June statement, Ban sought to reassure critics, saying that closing the investigation into 003 was only “an interim procedural step”.

The Pre-Trial Chamber is now considering a request by Lead Prosecutor Andrew Cayley to ask the Blunk and You to reopen the investigation.

Such a move would certainly bolster the court’s battered image. But statements by UN and court officials have done little to alleviate concerns among victims and observers who continue to claim that the tribunal is caving to political pressure.

“We expected, to a degree, the Cambodian personnel to align unquestioningly with the dictates of Cambodian politics,” said Theary Seng, a Khmer Rouge victim and activist who wrote Daughter of the Killing Fields. “But what is totally unacceptable and sickening is the UN succumbing to the same domestic politics.”

Beer promoter in hospital

Angkor Beer promoters look on while a stack of tyres burn outside the Cambrew headquarters in Phnom Penh yesterday during a protest to demand overtime wages. (Photo by: Meng Kimlong)

A group of Angkor beer promoters try to block a company vehicle from entering the Cambrew headquarters during a protest in Phnom Penh yesterday. (Photo by: Meng Kimlong)

Wednesday, 03 August 2011May Titthara
The Phnom Penh Post

One Angkor beer promoter was hospitalised yesterday after reportedly being struck by a company minivan and another three feinted from smoke inhalation when police attempted to extinguish flames from tyres they had set alight on the eighth day of their strike.

Yoeun Sreymon, 29, was taken to Bayon Hospital after being knocked down by a red Angkor minivan, fellow strikers said. They said she was pregnant and that she was unconscious when they took her to the private hospital for undisclosed injuries.

Phnom Penh Police commissioner Touch Naroth said last night he had told his officers to show restraint, but also to prevent the women from burning tyres. “I assure you that my officers did not cause any injuries,” he said.

The women have been protesting outside the head office of their employer, Cambrew, for eight days in a dispute over unpaid overtime.

Cambrew executives have declined to meet them or comment on the strike.

Carlsberg, which owns half of the company, said last week it was investigating. The strikers said Carlsberg has yet to speak to any of them about the US$2 of overtime the Arbitration Council ruled on July 7 that Cambrew owed them for each Sunday they worked.

More than 30 women were joined yesterday by representatives from another union, the Coalition of Cambodian Apparel Workers’ Democratic Union.

Its president, Ath Thorn, said Cambrew had agreed to a meeting at 2:30pm and then cancelled. Ath Thorn described this as another example of the company’s unwillingness to settle the dispute.

If the company did not settle the dispute, his union would take action, Ath Thorn said.

Chou Choung Kim, a spokesman for Cambrew, said its lawyer would reach a settlement with the strikers today.

Police chief Touch Naroth said: “The police cannot solve this dispute. It’s up to the Arbitration Council and the company. I don’t know why it has not been solved.”

He said the municipality would intervene tomorrow. Deputy governor Pa Socheatvong would meet with the strikers and try to find a solution, he said.

Petrol prices squeeze domestic consumers

A woman sells petrol on the roadside in downtown Phnom Penh earlier this year. (Photo by: Wesley Monts)

Wednesday, 03 August 2011
Ty Samphors Vicheka and Sim Virinea
The Phnom Penh Post

Soaring prices for gasoline and goods have hurt some Cambodian consumers, causing what economists have said was a drop in the living standard of the Kingdom’s lower-income population.

“People need to spend more money to make ends meet if prices keep increasing,” said economist Chan Sophal.

The rising costs of gasoline and other goods are weighing on low-income Cambodians, subtracting from their ability to buy the products they need, he said.

Gasoline traded at 5,300 riel per litre in Phnom Penh yesterday, an increase of about 12 percent so far this year, according to the Commerce Ministry’s daily statistics. Oil prices have increased globally, with Brent Crude trading at US$116.35 a barrel on the London-based ICE exchange yesterday, from less than $80 a year ago.

Thorn Sarum, 18, a security guard working in Phnom Penh, said he has struggled with those issues since arriving in the city two months ago.

“I earn $90 per month, but I have never sent my salary to my parents back home because everything here is really expensive. I need to pay for rent, water and some food,” he said.

Others in Phnom Penh are trying to stretch their wages in order to support their families here.

Chhay Samrithy, a 42-year-old primary school teacher at Chak Angrey Phum 3, said she earns 340,000 riel a month, or about $85, which isn’t enough to meet her family’s needs.

“I have five children whose studies I spend a lot of money on, and everything is more and more expensive, especially the price of rice, food and gasoline. That makes my family face many challenges,” she said.

Businesses have also felt the effects of inflation.

Thol Sokny, a gasoline vendor in Kampong Cham’s Memot district, said the pressure on consumers from higher costs has resulted in declining customer traffic. As a result, she is now considering a salaried job instead.

“I want to quit my business to work as a staff for one company because being a seller cannot improve my family conditions,” she said.

Still, increased prices for some goods benefit Cambodia’s producers, particularly farmers.

Ministry of Economy and Finance Secretary of State Hang Chuon Naron pointed out that rising prices for agricultural products such as rice benefits farmers.

He added the government was taking steps to encourage farmers to plant in-demand crops such as palm oil, and was investing in electricity production to decrease costs.

The National Bank of Cambodia is considering a measure to rein in inflation by increasing reserve requirements for domestic banks.

NBC Director General and Spokeswoman Nguon Sokha has said inflation could hit up to 9 percent this year.

Experts at the Asian Development Bank have said inflation ought to hit about 5.5 percent this year, while the International Monetary Fund estimates Cambodia’s average inflation will be about 6.5 percent this year.

In July, Minister of Economy and Finance Keat Chhon raised Cambodia’s inflation target to 5.5 percent for 2011, from a 5 percent target set previously for the year.

Former Cambodian King In China for Medical Checkup

(Photo DAP-news)

Another VIP who also needs to visit Beijing soon: Chea Xim (Photo: Dap-news)

Wednesday, August 3rd, 2011
Voice of America

Cambodia's ailing former king, Norodom Sihanouk, has left the country for what is being described as routine medical testing in China.

The 88-year-old monarch, who remains a revered figure in his homeland, has undergone numerous rounds of testing and treatments in China since first being diagnosed with cancer in the early 1990s. He also suffers from diabetes and hypertension.

The king and his wife left Phnom Penh for Beijing Wednesday. Details of his China itinerary have not been disclosed.

Sihanouk abruptly quit the throne in 2004 in favor of his son, citing old age and health concerns.

Carlsberg investigates beer strike

A group of Angkor beer promoters protest for overtime payment outside the Cambrew headquarters in Phnom Penh last week. (Photo by: Meng Kimlong)

Monday, 01 August 2011
Mom Kunthear and Vincent MacIsaac
The Phnom Penh Post

Carlsberg has said it is investigating a strike by Angkor beer promoters, who yesterday vowed to continue in their bid for fair treatment.

“We’ve had no response from the company so the strike will continue,” Ou Tep Phally, vice-president of Cambodian Food and Service Workers’ Federation, told The Post yesterday.

More than 30 beer promoters have been striking since last Monday, accusing Angkor brewer Cambrew of refusing to pay overtime despite a July 7 ruling by the Arbitration Council that it was legally required to do so.

The women, who usually promote the brand in restaurants and nightspots, have been handing out leaflets calling for the public to boycott it instead. Beer promoter Sim Phan said strikers planned to burn tyres in front of the company’s headquarters on Norodom Boulevard today.

Cambrew has repeatedly declined to comment, but Carlsberg, which owns half of Cambrew, said it was investigating. “The current situation is under investigation by the local management team and Carlsberg Indochina,” Carlsberg’s vice-president for communications in Asia, David Fang, said in an email last week.

The Hong Kong-based executive referred further questions to staff at the company’s Hanoi office, but they were on vacation.

Ian Lubek, a Canadian academic who has researched “beer girls” in Cambodia for 12 years, said: “Company directors are often oblivious to what is going on in the field.

“Headquarters set quotas for how much beer should be sold in the region and rarely consider employees’ issues.”

He also said companies paid low wages to beer promoters because their resulting vulnerability made them more attractive to customers.

“They knowingly create an economically coercive situation because they know that male customers will be more likely to drink their brand if it is served by women who are perceived as economically vulnerable targets,” he said.

Ou Tep Phally said she was looking forward to the opportunity to tell Carlsberg about the working conditions of its female beer promoters in Cambodia.

She said she also wanted to tell the company that its partner here has cheated its employees out of overtime wages for 14 years.

Carlsberg’s investigation has yet to include interviews with the women who promote its brands here, she said.

June textile workers get paid

Monday, 01 August 2011
Kim Yuthana
The Phnom Penh Post

Thousands of workers who were sacked after part of the June Textile garment factory burned down in March are finally receiving severance payments and other awards following a ruling from the Arbitration Council.

Taing Kisay, an administration assistant at the factory, said yesterday that more than half the 4,096 workers who lost their jobs would get payments soon. “I will continue to pay all workers. I expect I will be completely finished by the second week of August,” he said.

The Arbitration Council ruled on June 16 that June Textile had to pay workers compensation. Heng Lin, 30, said yesterday she had received US$1,130 after working at June Textile for 12 and a half years.

“It showed the success of... the workers’ struggle in demanding the factory boss to follow the Arbitration Council’s ruling.”

Oum Mean, secretary of state at the Ministry of Labour, said he hoped “other factories in controversies will settle [compensation] for workers as well”.

Peng Chou, a representative from the Union Federation of Work, claimed yesterday that the company had been disputing the details of some former employees’ contracts in order to withhold payments, and said more protests could result.

‘Hell’ over for abused fishermen

Migrant worker Nouv Vuthy (right), aged 21, hugs his father Chheung Heab upon returning to Cambodia from Malaysia on Friday. (Photo by: Meng Kimlong)

Monday, 01 August 2011
Sen David and David Boyle
The Phnom Penh Post

Trafficking victim Thith Sopheak had a strong warning for people contemplating the promises of labour brokers when he returned home to Cambodia on Friday – don’t believe them, you’ll end up in hell.

“It just put tears in my eyes to see them [other victims]. It is a hellish situation. There are a lot of Cambodians, not just 100, maybe 1,000 on the boats,” he said.

An unknown number of Cambodian men, like him, have been trafficked onto Thai and Malaysian fishing boats as slave labourers and subjected to appalling abuses.

Those deemed expendable – falling ill or exhausted from 22-hour work days – have reportedly been beaten and then tossed in the South China Sea to die.

Thith Sopheak and six other men were the “lucky” ones, who jumped ship and were eventually rescued in Malaysia, before finally arriving home on Friday.

“They mistreated us so much. They hit us and so many Cambodians died at sea,” said the 29–year-old at Phnom Penh International Airport.

“I decided to jump into the water. I thought that if I was lucky, I would live. I swam 200 metres and arrived in Malaysia.”

Chan Phally, the mother of 21-year-old victim Nouv Vuthy, who also returned on Friday, said she had warned her son that offers of lucrative jobs in Thailand from brokers were dangerous, but he stubbornly decided to go anyway.

“I was ill when he called me once and said he had been trafficked as a boatman,” she said, tentatively waiting to hug the son she had not seen for months.

“I missed my relatives, especially my mum, so much. Right now I feel reborn,” her son said following their reunion.

Although six of the group have now returned home, their future remains uncertain, said Huy Pich Sovann, a programme officer at the Community Legal Education Center in Cambodia, yesterday.

“They are still worrying about their lives. They have no jobs and they have no income … it’s very difficult to find them jobs or provide them training,” he said. But the men had received gifts of noodles, canned fish and US$10 each from the Cambodian Red Cross and could perhaps find some work as paid advocates, warning potential victims of the horror they endured, he added.

Most were keen to start their own businesses, he said, but were unaware of any financial assistance to be provided from the government.

Repatriated victim Sun Baraing, aged 47, said on Friday that he would never make the mistake of going abroad to work again.

“I am alive, this is my luck. I am illiterate and I don’t know what to do in the future. I just want to live with my mum in happiness. I am a man, I will not cry,” he said.

Bith Kimhong, director of the anti-human trafficking and juvenile protection department at the Ministry of Interior, said yesterday investigations were underway to identify and arrest the brokers responsible for trafficking the men in late 2010 and early 2011.

“After we interviewed [the victims], we made a conclusion that it was a suspected case of human trafficking across the border and we have been working to conduct an investigation,” he said.

ADDITIONAL REPORTING BY VONG SOKHENG

Exclusive New Track from Khmerican artist, Jeff 'JL Jupiter' Lek

Monday, August 01, 2011

Co-founder, Phatry Derek Pan was out in Philadelphia this past weekend to support one of Khmerican’s biggest ally, Jeff ‘JL Jupiter’ Lek. The charismatic 31-year-old music artist has been laying down tracks for over a decade to songs such as Natural, I’m Still Here and Build With U. Just before a show, Pan had the opportunity to share a conversation in his Camden home about a new unreleased track produced by AZI Fellas.

“The single Off Ya Love reflects about family,” said JL, who despite growing up without a father, always had a strong support system from siblings and relatives. “The names mentioned in the song are real people - people who always gave me everything I wanted even though we were struggling.”

This maturity and experience has brought the versatile artist greater prominence in the emerging Philadelphia hip hop scene. In the last 3 months, JL has performed at numerous local venues such as Cambodian-owned Tipsy Bar, Arts Garage, and this past Saturday at Phila MOCA. In May 2011, he performed in Springfield, Virginia alongside comrade in arms, the Nu Treez. His largest stage yet will be a schedule performance at the 14th Annual Lowell Southeast Asian Water Festival on August 20th to a 50,000 plus audience.

As JL Jupiter’s music career continues to grow, so will our effort to promote talented artist in the community. Meantime, we encourage you to visit JL’s website, Like his fan page, and all that other good karma stuff.

And lastly, we haven’t forgotten you the fans. For the first 25 people who e-mails us, we will send out the full 3-minute track for FREE.

Public Invitation to Meet Mu Sochua in Montreal, Canada

July 31, 2011

Dear Compatriots,

We are very pleased to invite you, family and friends to a public gathering which will be held in honour of our elected member of Cambodian parliament, Ms. Mu Sochua. A former Minister of Women's Affairs and a leading human rights activist, MP Mu has been a defending champion of Cambodian women's rights and dignity. She has been inspirational in her fearless journey to empower Cambodian women, promote and defend their rights and dignity.

This public gathering will be held on SUNDAY, August 7, 2011, from 2:00pm - 9:00pm, at Centre de Loisir located on 1375 rue Grenet, Ville Saint Laurent, Quebec, Canada.

For detail information and contact info., please CLICK HERE

Your supports and encouragement is vital to the cause of advancing Cambodian women's rights and dignity inside our native land. Hope to see you all there.

Truly Yours,

Pretty Ma, SG

Sam Rainsy Party of North America

450-712 4998

Contact Info.

Mr. Pang Heng 450-934 3873

Mr. Chuop Samnang 514-543 1479

Mr. Tep Sokhavouth 514-678 8583

HSBC to axe 30,000 jobs

• Online news:

HSBC will slash 30,000 jobs worldwide over the next two years as part of a major cost-cutting drive aimed at refocussing on Asia, the global banking giant announced Monday as it posted bumper profits.

Global banking giant HSBC has warned that it will slash up to 30,000 jobs worldwide as part of its major cost-cutting drive.

Europe's biggest lender said in a statement that it was cutting 5,000 workers in Latin America, the United States, Britain, France and the Middle East, but new boss Stuart Gulliver revealed that the cost-cutting plans would go deeper.
"There will be further job cuts," he told journalists on a conference call after the group announced a 35-percent jump in net profits.
"Another 25,000 roles will be eliminated in addition to the 5,000 already announced," he added.
The cuts represent about 10 percent of HSBC's global workforce but Gulliver stressed that the bank would also be recruiting staff by 2013.
"The net number will be a lot smaller than the 30,000," he told reporters. The group currently employs around 300,000 staff across the globe, more than a third of which work in Asia.
The job cuts are part of the group's already-announced plans to slash costs by up to $3.5 billion (2.4 billion euros) within two years.
HSBC is the latest global banking giant to announce a round of heavy cuts. In recent weeks, Italy's Intesa Sanpaolo and Switzerland's Credit Suisse have both unveiled thousands of job losses.
The British lender meanwhile, which survived the 2008 crisis without state aid unlike many of its rivals, announced in a strategic review earlier this year plans to save $2.5-3.5 billion in costs by 2013.
Gulliver, who took the reins in January, aims to re-invest the enormous cost savings into fast-growing markets around the world, notably Asia.
"We will end up continuing to grow our headcount in emerging markets," he said on Monday, as HSBC revealed that its net profit soared to $8.9 billion (6.2 billion euros) in the first half on lower tax charges.
Pre-tax profits rose 3.3 percent to $370 million in the reporting period, while total revenues edged ahead to $35.7 billion.
HSBC's share price rallied 4.22 percent to 619.60 pence in midday deals on London's FTSE 100 index, which was up 1.49 percent at 5,901.98 points on relief over a US debt deal.
"The company continues to benefit from a global diversification which is not necessarily matched by the other UK banks," said Richard Hunter, an analyst at Hargreaves Lansdown stockbrokers.
"Cost cutting and prudent growth management through its retail and commercial operations have been contributors to the upward surprise, whilst the bad loan figures have reduced impressively."
Barclays publishes its latest numbers on Tuesday, followed by Standard Chartered a day later. Results from state-rescued Lloyds Banking Group and Royal Bank of Scotland are due on Thursday and Friday respectively.
Britain's banking sector is meanwhile facing potential reform in the wake of the devastating 2008 global financial crisis.
The Independent Commission on Banking, set up by the government last year to consider possible reforms, has called for a "ring-fencing" of retail businesses to stop investment division losses sinking the banks. The ICB will issue its final report on September 12.
Gulliver, when asked about the effect of the ICB report, replied that it "may result in more or less jobs. We just don't know."

Markets soar on US debt deal

• Online news:

Asian stock markets surged on Monday after US President Barack Obama said lawmakers had reached a last-minute deal that would raise the country's debt ceiling and avoid a catastrophic default.

Traders are seen at the Tokyo Stock Exchange. Shares on the bourse rose 1.71 percent on Monday after US President Barack Obama announced that he and top lawmakers had reached an 11th-hour deal to avert a potentially disastrous debt default.

Tokyo closed 1.34 percent, or 131.98 points, higher at 9,965.01 and Seoul gained 1.83 percent, or 39.10 points, to 2,172.31 while Sydney finished 1.65 percent, or 73.2 points, up at 4,497.8.
Hong Kong rose 0.99 percent, or 223.12 points, to 22,663.37 but Shanghai ended flat, edging up just 2.05 points to 2,703.78.
"I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default, a default that would have had a devastating effect on our economy," Obama said late Sunday in Washington.
The deal will raise the country's $14.3 trillion debt ceiling by about $2.4 trillion in two steps, while calling for roughly the same amount in spending cuts over 10 years.
However, the bill must still pass through both houses of Congress, and Obama urged lawmakers "to do the right thing and support this deal".
Traders worldwide have been on edge for weeks as the White House and Democrats squabbled with Republicans over how to make enough budget cuts to allow a hike in the debt limit.
A default by the United States, the world's richest country, would send shudders through the global economy that could lead to another financial crisis.
The news briefly lifted the dollar -- after a steady sell-off last week as Democrats and Republicans struggled to come to an agreement -- but it soon eased back.
The greenback, which rose above the 78 yen level after the deal, was at 77.44 yen in early European trade, up from 76.73 yen in New York late Friday.
The euro fetched $1.4399 against $1.4395. The European single unit rose to 111.48 yen from 110.41 yen.
"The debt-ceiling issue had been disturbing the market and spawned risk aversion since last week," said Kazuhiro Takahashi, a general manager of investment strategy and research at Daiwa Securities.
"As President Obama announced a deal, lost ground is being regained."
However, he sounded a note of caution, adding: "This is not a factor that makes investors picture higher growth for the US economy. The market is reacting to the fact that what should have been settled earlier has finally been done so after a political game."
Analysts also pointed out that data from the United States last week showed stagnant growth in the first half of 2011, raising fresh concerns of a recession.
The Commerce Department said gross domestic product grew only 1.3 percent in the second quarter, after 0.4 percent in the first, the weakest growth since the economy officially exited recession two years ago.
Both numbers were much lower than earlier forecasts -- originally first-quarter growth had been put at 1.9 percent -- and raised doubts about widespread forecasts of a 3.0 percent-plus pace for the rest of the year.
Eyes will be on the release on Friday of key non-farm payroll figures, with concerns that the economy is coming to a halt.
Oil rallied on the debt deal announcement. New York's main contract, light sweet crude for delivery in September, surged $1.18 to $96.88 per barrel in the afternoon.
Brent North Sea crude gained $1.35 to $118.09.
Gold closed in Hong Kong at $1,615.00-$1,616.00 an ounce, up from Friday's finish of $1,612.00-$1613.00.
In other markets:
-- Singapore closed up 0.82 percent, or 26.01 points, at 3,215.27.
City Developments gained 2.27 percent to 10.80 and United Overseas Bank rose 2.20 percent to 20.90.
-- Taipei rose 0.66 percent, or 57.20 points, at 8,701.38.
Taiwan Semiconductor Manufacturing Co was 0.83 percent higher at Tw$72.6 while Formosa Plastics was 7.0 percent down at Tw$101.0.
-- Manila closed 1.04 percent, or 46.90 points, higher at 4,550.53.
Top-traded Philippine Long Distance Telephone Co. was unchanged at 2,400 pesos while Alliance Global Group gained 3.62 percent to 12 pesos and Metropolitan Bank and Trust Co. ended up 2.66 percent at 79 pesos.
-- Wellington ended 0.54 percent, or 18.21 points, lower at 3,413.84.
Fletcher Building gained 1.2 percent to NZ$8.23 and Mainfreight rose 2.1 percent to NZ$10.72.
-- Kuala Lumpur ended up 0.59 percent, or 9.20 points, at 1,558.01.
CIMB Group added 1.8 percent to 8.42 ringgit, UEM Land gained 0.8 percent to 2.62 ringgit and UMW climbed 0.4 percent to 7.42 ringgit.
DiGi.com shed 0.1 percent to 30.20 ringgit and IOI Corp lost 0.2 percent to 5.14 ringgit.
-- Jakarta gained 1.52 percent, or 62.64 points, to 4,193.44.
Car maker Astra rose 1.6 percent to 71,650 rupiah, Bank Mandiri jumped 2.6 percent to 8,050 rupiah and Bank Rakyat increased 4.4 percent to 7,200 rupiah.
-- Bangkok rose 0.94 percent or 10.61 points to 1,144.14.
PTT gained 3.00 baht to 350.00, while Banpu added 2.00 baht to 734.00.
-- Mumbai rose 0.64 percent, or 117.13 points, to 18,314.33.
The markets erased some early gains after the Prime Minister's economic advisory council lowered its fiscal year growth forecast to 8.2 percent from an earlier nine percent.
Engineering giant Larsen and Toubro rose 2.14 percent or 36.95 rupees to 1,762.9 while state-run exploration firm Oil and Natural Gas Corp (ONGC) rose 1.73 percent or 4.65 rupees to 273.3.

SET up 0.94%

• Online news:

The Stock Exchange of Thailand (SET) composite index on Monday gained 10.61 points, or 0.94 per cent, to close at 1,144.14 points. The market value was 34.64 billion baht, with 5.19 billion shares traded.

The SET50 index rose 7.43 points, or 0.94 per cent, to stay at 801.44 points, with a total transaction value of 24.01 billion baht.

The SET100 index ended the session at 1,746.66 points, up 16.24 points, or 0.94 per cent, with a total trade value of 29.29 billion baht.

The SETHD index rose 8.98 points, or 0.83 per cent, to stay at 1,095.70 points, with a total market value of 9.29 billion baht.

The Market for Alternative Investment (mai) index went up 1.58 points, or 0.50 per cent, to close at 319.60 points, with a total turnover of 742.34 million baht.

Top five most active values were as follows;

PTTCH closed at 165.00 baht, up 2.50 baht, or 1.5 per cent.

PTT closed at 350.00 baht, up 3.00 baht, or 0.86 per cent.

TOP closed at 78.75 baht, up 2.00 baht, or 2.61 per cent.

CPF closed at 32.25 baht, up 0.50 baht, or 1.57 per cent.

BBL closed at 174.50 baht, up 0.50 baht, or 0.29 per cent.

2 foreigners assaulted in Phuket

• Online news:

Two Dutch tourists were reported to have been assaulted by minibus drivers after they refused to pay 1,000 baht in damages after one of them walked into a parked, small minibus at Patong beach in Phuket province early on Monday morning.

Unubovd Alcawbimel, 19, and Bootaman Frans  Jelle, 20, were attacked about 2.45 am shortly after they left  Soi Bang La, a popular nightspot venue on Patong beach, the report said.
While walking back to their accommodation the two young men were fooling around and Mr  Alcawabimel accidentally walked into a parked minibus, the report said. The minibus was slightly dented.
 The driver demanded 1,000 baht for damage, but the two men refused to pay.

The two tourists said the damages claim was exaggerated.  This annoyed the minibus driver and his friends. As the two tourists walked away, the disgruntled drivers physically assaulted them, the report said.
A police officer passing by  saw the incident and tried to intervene, but he was forcefully kept away  by the assailants. The policeman fired a warning shot into the air.
The two tourists were later admitted to a nearby hospital. Mr Alcawbimel needed 10 stitches in  his left eyebrow, while Mr Jelle sustained bruising to his body, the report said.
After the incident,  the drivers blocked the road in front of Soi Bang La with at least 10 mini buses.
Pol  Col Arayaphan Pukbuakhao, chief of Kathu district police, went to the scene to negotiate with the protesting drivers.  After more than one hour of talks, the drivers agreed to disperse.
Pol Lt Col Kittipong Khlaikaew, deputy chief of Kathu police , said police will linvestigate the assault  and examine  footage from closed-circuit cameras before charges are laid against those involved in the attack, the report said.

Train services to North suspended

• Online news:

The State Railway of Thailand on Monday announced the suspension of train services to the North where several sections of the rail tracks have been submerged by floodwater.

The trains suspended until further notice are:
- Special express diesel train No 11 (Bangkok - Chiang Mai), to depart from Bangkok at 6pm,
- Special express train No 1 (Bangkok - Chiang Mai), to depart from Bangkok at 6.10pm,
- Special express train No 13 (Bangkok - Chiang Mai), to depart from Bangkok at 7.35pm,
- Express train No 51 (Bangkok - Chiang Mai), to depart from Bangkok at 10pm.
Rapid train No 109 (Bangkok - Chiang Mai) which left Bangkok at 2.30pm stopped only at Den Chai railway station in Phrae province.  Passengers were further transported by buses to the destination.

Sanam Luang grand opening Aug 9

• Online news: Local News

The Bangkok Metropolitan Administration will ask His Majesty the King to preside over the opening of the newly renovated Sanam Luang park on Aug 9, Bangkok deputy governor Thirachon Manomaipiboon said on Monday.

He said a grand religious ceremony to mark the event will be organised to also celebrate His Majesty the King's 84th birthday.
Since Sanam Luang is a historical site assigned for royal ceremonies, the city administration will ask His Majesty  to preside over the opening ceremony.
This was agreed at a meeting chaired by Bangkok governor MR Sukhumbhand Paribatra.
Mr Thirachon said that the meeting also assigned the Public Works Department  to facilitate the construction of edifices for the royal cremation of HRH Princess Bejraratana.
The meeting also resolved to amend BMA regulations regarding use of Sanam Luang to allow people to use the ground for rest and recreation from 5am-10pm everyday, but sales of goods, parking and sleeping will be prohibited.
The BMA's Legal Affairs Department will draft the needed amendments to regulations concerning requests for use of Sanam Luang for various activities, he said.

Thailand Wants Terms of Asean Mission

Thai Prime Minister Abhisit Vejjajiva says Thailand and Cambodia must still discuss the bilateral terms for an Indonesian monitoring mission to the border.
In remarks Wednesday, the premier said he has requested Indonesia delay the border mission, which follows deadly clashes last month, until its scope and areas can be determined.
“Otherwise, it may lead to further problems and dispute in terms of settlement claims,” he said.
Prime Minister Hun Sen on Thursday criticized Thailand for a slow response to the documentation needed for Asean observers at the border.
Indonesia hopes to send observers to both sides of the border, following deadly clashes last month, but Thailand has so far failed to agree to the terms of reference.
Thailand’s reticence could cause a delay to the observer mission. But Cambodian Foreign Ministry spokesman Koy Kuong told VOA Khmer that Cambodia will accept Indonesian monitors with or without Thailand.
“We’ve clearly said that in case Thailand objects, then Cambodia agrees to take them unilaterally,” he said.
Observers say the discrepancy can lead to problems for the Indonesian mission, which as planned would put observers on each side of the border to ensure no further border fighting takes place.
Clashes in early February left at least 10 people dead and caused damage to portions of Preah Vihear temple, a Unesco World Heritage site. After the fighting, both sides agreed in principle to observers from Indonesia, which is the current head of Asean.
Thai officials say they expect to hold further talks with Cambodia March 7 and March 8 during a joint border committee meeting. However, Koy Kuong said Cambodia has not agreed to those dates.
Cambodian officials maintain they will not negotiate the border with Thailand without the presence of Asean officials as witnesses.
View post:
Thailand Wants Terms of Asean Mission

ASEAN Stars to Fall

ASEAN Markets will fall today but not as much as their Wall St counterparts, Regional economic news has been sound.
The DJIA .DJI closed off 140.24 pts, or 1.14% at 12,201.59.
The Standard & Poor’s 500 .SPX closed off 14.55 pts, at 1.10%, to 1,305.13.
The NAA Composite .IXIC closed off 29.27 pts, or 1.06%, at 2,735.38.
Thai Stocks will open lower but will not reflect the strong fall seen over night in the USA.
Shayne Heffernan best buys are Sri Trang, PTTEP
PTT Exploration and Production Public Company Limited is a Thailand-based company engaged in the exploration, extraction, production and development of petroleum products. It produces crude oil, condensate, natural gas and liquefied petroleum gas (LPG).
The Company is also engaged in petroleum-related businesses, such as jetty, bulk tank, wharfing service and warehouse management. It owns and operates a gas transportation piping system. It has 51 subsidiaries and 15 affiliated companies.
As of December 31, 2010, the Company and its subsidiaries averaged 304,023 barrels of oil equivalent per day (BOED), and had investments in 44 exploration and production projects in 13 countries worldwide. Its projects include gas projects in Oman and Myanmar, as well as oil projects in Vietnam and Australasia. Natural gas contributes to 70 percent of its total sales.
Sri Trang Agro-Industry Public Company Limited is a Thailand-based company engaged in the manufacture of rubber products.
The Company’s product includes rubber smoked sheet (RSS), which are used as a raw material in the production of other products, including automobile tires, pipes, shoes and parts of automobiles; block rubber, which is used in the automobile tire industry, and used as substitute to grade-3 rubber smoked sheet, and concentrated latex, which can be used as a raw material in the production of latex examination gloves, condoms, and elastic rubber thread.
Its customers are categorized in three groups: automobile tire manufactures, such as Bridgestone, Michelin, Yokohama, Hankook, Continental, Goodyear, Pirelli, and tire manufacturers in China; trading companies in Japan and other importers in Asia, China, Taiwan, Korea, America and Europe, and domestic customers, including automobile tire, motorcycle tire, and elastic rubber thread manufacturers.
In Bangkok yesterday The Stock Exchange of Thailand main index went up 5.76 points or 0.53% to close at 1,090.67 points at the end of trading session on Monday afternoon. The trade value was 34.28 billion baht.
Top five most active values were as follows;
SCC closed at 369.00 baht, up 11.00 baht (3.07%)
CPF closed at 27.75 baht, up 1.25 baht (4.72%)
PTT closed at 375.00 baht, up 4.00 baht (1.08%)
PTTEP closed at 189.50 baht, down 2.00 baht (1.04%)
PTTAR closed at 43.00 baht, up 0.50 baht (1.18%)
Kuala Lumpur will face challenges in the morning session but a rise in Palm Oil futures may help offset a negative night on Wall St.
Shayne Heffernan best buys are IOICORP, Sarawak Oil Palms
Sarawak Oil Palms Berhad is a Malaysia-based company engaged in the cultivation of oil palms and the operations of palm oil mills in Malaysia.
During the year ended December 31, 2009, the Company planted a total of 54,252 hectares of oil palms, of which 31,766 hectares were mature and 22,486 hectares were immature. In 2009, the Company produced 663,50 tons, 225,056 tons, 45,562 tons of fresh fruit bunches (FFB), crude palm oil (CPO) and palm kernels, respect.
IOI Corp
IOI Corporation Berhad is engaged in investment holding and the cultivation of oil palm and processing of palm oil.
The Company operates in five segments: plantation, which is engaged in the cultivation of oil palm and rubber and processing of palm oil; property development, which is engaged in the development of properties; property investment, which is engaged in the investment in shopping mall, office complex and other properties; resource-based manufacturing, which is engaged in the manufacturing of oleochemicals, specialty oils and fats, palm oil refinery and palm kernel crushing, and other operations, which is engaged in the management and operation of hotels and resorts, landscape services and other operations.
During the fiscal year ended June 30, 2010, the Company produced 3,405,090 tons, 732,275 tons and 170,876 tons of fresh fruit bunches, crude palm oils and palm kernels, respectively. In 2010, the Company disposed its entire shareholdings in IOI Pelita Kanowit Sdn Bhd.
In Kuala Lumpur yesterday the KLCI index gained 5.98 points or 0.39% to close at 1527.
Most Active SMARTAG, DBE, DBE-WA, RAMUNIA-WA, KBUNAI, CIMB, FOCUS, AXIATA, RAMUNIA and MAA. Trading volume increased to 1032.24 mil shares worth RM1496.12 mil as compared to Friday’s 915.05 mil shares worth RM1565.06 mil.
The Winners were GENTING (+34 sen to RM11.14), CIMB (+7 sen to RM8.30), GAM (+14 sen to RM3.83), PETCHEM (+8 sen to RM7.28) and YTL (+18 sen to RM7.90).
The Losers were IOICORP (-12 sen to RM5.29), AXIATA (-2 sen to RM4.74), UMW (-12 sen to RM7.12), PPB (-14 sen to RM16.72) and MAXIS (-3 sen to RM5.37).
The Finance Index increased 0.53% to 13994.01 points, the Properties Index up 0.67% to 1101.19 points and the Plantation Index down 0.61% to 7575.35 points.
The market traded within a range of 8.65 points between an intra-day high of 1533.18 and a low of 1524.53 during the session.
Market breadth was positive with 445 gainers as compared to 277 losers.
Manila will open lower today following an overnight fall on Wall St.
Shayne Heffernan best buys are Alliance Global and Ayala Corp
Alliance Global Group grew its consolidated net income last year by 40 percent to P9.5 billion on robust real estate and consumer businesses.
Its full year net income attributable to shareholders rose 44 percent to P6.9 billion from a year ago, the company disclosed to the Philippine Stock Exchange on Monday. Earnings per share based on net income attributable to shareholders during the period increased by 44 percent to P0.71 per share.
Property arm Megaworld Corp. contributed 40 percent to AGI’s net of minority interest while non-real estate businesses consisting of consumer food and beverage and integrated tourism projects accounted for 60 percent.
“We believe that all our business units will continue to sustain their strong growth momentum in 2011,” said AGI chair tycoon Andrew Tan.
“We are ready to fast-track our real estate developments and capture new growth opportunities in the tourism sector, especially with our investment in Global-Estate Resorts. Both real estate development and integrated tourism will be our main drivers of long-term value creation that is sure to benefit our shareholders,” Tan said.
An outsourcing unit of the Ayala group has acquired Los Angeles-based IQ BackOffice which provides finance and accounting backroom services to mid-sized US companies.
Ayala Corp.’s business process outsourcing (BPO) investment company, LiveIt Investments Ltd. disclosed to the Philippine Stock Exchange on Monday such acquisition by its investee company HRMall, which provides outsourced IT-enabled HR services out of Manila.
IQ BackOffice delivers high quality, software-enabled, real-time, SAS70 Type II-certified finance and accounting BPO services to mid-sized companies in the U.S. targeting companies with annual revenues of $50 million to $1 billion but its business includes clients with revenues up to $10 billion.
The combined companies are valued at approximately $15 million, the disclosure said. The management team of IQ BackOffice LLC, including David Schnitt, its founder and CEO, will purchase a 17.5 percent ownership interest in HRMall. LiveIt will own the balance of 82.5 percent of the company and will support the company’s strategy to accelerate its growth in its current markets in the U.S. and Asia.
Jakarta Stocks will open lower today, Shayne Heffernan best buys are Bakrie Sumatera, Mayora Indah
PT Mayora Indah Tbk is an Indonesia-based food manufacturer. The Company’s six product categories are biscuit, candy, wafer, chocolate, health food and coffee.
Among its brand names are Roma, Better, Danisa, Kopiko, Tamarin, Plonk, Astor, Roma, Choki Choki, Energen and Torabika. The products are sold to both domestic and international markets.
The Company has five subsidiaries, which are engaged in food and finance industries, namely PT Sinar Pangan Barat, PT Sinar Pangan Timur, PT Torabika Eka Semesta, PT Kakao Mas Gemilang and Mayora Nederland B.V. The Company operates production facilities in Tangerang and Bekasi.

Valuation Ratios

	Company	Industry	Sector	S&P 500
P/E Ratio (TTM)	13.93	24.36	17.66	17.79
P/E High – Last 5 Yrs.	13.75	6,435.73	1,609.22	93.10
P/E Low – Last 5 Yrs.	4.45	17.53	15.41	12.33
Beta	0.87	0.54	0.53	1.30
Price to Sales (TTM)	0.92	1.40	1.95	2.24
Price to Book (MRQ)	4.86	6.75	2.74	3.11
Price to Tangible Book (MRQ)	4.86	6.71	9.59	5.60
Price to Cash Flow (TTM)	9.82	13.71	11.18	60.71
Price to Free Cash Flow (TTM)	68.78	9.68	8.66	59.80
% Owned Institutions	–	–	–	–

Dividends

	Company	Industry	Sector	S&P 500
Dividend Yield	0.86	1.79	1.87	1.74
Dividend Yield – 5 Year Avg.	1.78	1.21	1.21	2.48
Dividend 5 Year Growth Rate	14.87	9.50	9.33	-4.46
Payout Ratio(TTM)	–	28.23	58.36	45.15

Growth Rates

	Company	Industry	Sector	S&P 500
Sales (MRQ) vs Qtr. 1 Yr. Ago	340.07	13.22	7.16	10.11
Sales (TTM) vs TTM 1 Yr. Ago	109.99	11.02	6.87	10.58
Sales – 5 Yr. Growth Rate	28.23	10.68	11.93	7.48
EPS (MRQ) vs Qtr. 1 Yr. Ago	209.29	79.30	29.70	76.20
EPS (TTM) vs TTM 1 Yr. Ago	96.69	–	–	–
EPS – 5 Yr. Growth Rate	34.32	7.94	8.67	4.71
Capital Spending – 5 Yr. Growth Rate	24.06	13.65	11.23	3.51

Bakrie Sumatera Plantations, one of the largest plantation companies in Indonesia, slid 1.4 percent to Rp 355. September-delivery rubber fell 10.1 yen to 425.0 yen ($5.14) per kilogram on the Tokyo Commodity Exchange on Monday.
At this price Bakrie Sumatera Plantations is undervalued.
PT Bakrie Sumatera Plantations Tbk is a plantation company in Indonesia. It is engaged in the production and marketing of natural rubber products and palm oil.
The Company also provides plantation management services and has subsidiaries which are engaged in investment management. Its two business segments are rubber and oil palm and derivatives. The Company has 66,560 hectares of plantation area in Kisaran, Asahan District, North Sumatra. Its subsidiaries include PT Bakrie Pasaman Plantations, PT Agrowiyana, PT Agro Mitra Madani and PT Huma Indah Mekar.
In Jakarta yesterday the JCI dipped 0.09 percent to close at 3,727.07. About 2.8 billion shares worth Rp 3.4 trillion ($391 million) changed hands. Decliners topped gainers 117 to 89.
The rupiah weakened 0.1 percent to trade at 8,672 to the US dollar as the market closed on Monday. The currency traded near its lowest level in a week after the Bank of China said it would increase banks’ reserve requirements by 50 basis points from Thursday as it tries to bring under control the country’s fastest rate of inflation in 32 months.
Singapore Stocks will have a difficult day after a sharp fall on Wall St overnight.
Shayne Heffernan best buys are ST Engineering, City Developments
Singapore Technologies Engineering Ltd. is an investment holding company, engaged in the provision of engineering and related services.
The Company operates in four segments: Aerospace, Electronics, Land Systems and Marine. Aerospace provides a range of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including total aviation support.
Electronics delivers system solutions to government, commercial, defence, and industrial customers worldwide. It specializes in the design, development and integration of advanced electronics and communications systems. Land Systems delivers integrated land systems, specialty vehicles and their related through life support for defence, homeland security and commercial applications.
In May 2010, the Company set up a wholly owned subsidiary, ST Engineering Financial II Pte. Ltd.
ST Engineering says it has secured $320 million contracts for various aircraft maintenance in the first quarter of 2011.
The company said the contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the company for the current financial year.

Financials

For the year ended 31 December 2010
S$m	FY10	FY09	Growth %
Turnover	5,985	5,548	8
Earnings before interest and tax (EBIT)	586.7	486.4	21
Other income, net ($m)	40.0	67.6	(41)
Finance costs, net ($m)	(43.3)	(46.3)	6
Profit before tax (PBT)	627.5	546.6	15
Earnings before interest, tax, depreciation and amortisation (EBITDA)	718.7	649.2	11
Profit attributable to shareholders (Net Profit)	491.0	443.9	11
Earnings per share (cents)	16.21	14.78	10
Dividend per share (cents)	14.55	13.28	10
• Final	11.55	10.28
- Ordinary	4.00	4.00
- Special	7.55	6.28
• Interim (Ordinary)	3.00	3.00

For the third quarter quarter ended 30 September 2010
S$m	3Q10	3Q09	Growth %
Turnover	1,487	1,352	10
Investment, interest and other income	7.0	16.8	(59)
Earnings before interest, tax, depreciation and amortisation (EBITDA)	200.6	177.4	13
Earnings before interest and tax (EBIT)	157.4	137.4	15
Profit before tax (PBT)	159.8	149.1	7
Profit attributable to shareholders (Net Profit)	130.2	120.3	8
Earnings per share (cents)	4.31	4.01	8

For the second quarter quarter ended 30 June 2010
S$m	2Q10	2Q09	Growth %
Turnover	1,518	1,409	8
Investment, interest and other income	17.2	13.4	29
Earnings before interest, tax, depreciation and amortisation (EBITDA)	190.5	164.5	16
Earnings before interest and tax (EBIT)	147.3	125.9	17
Profit before tax (PBT)	157.6	139.3	13
Profit attributable to shareholders (Net Profit)	124.0	108.7	14
Earnings per share (cents)	4.11	3.62	13

The Group registered good growth in Turnover and Profits in FY2010 over FY2009. Turnover increased by 8% to almost $6b while Profit Before Tax (PBT) and Net Profit improved by 15% and 11% to $627.5m and $491.0m respectively. This good performance translates to an ROE of 30.3%.

Valuation Ratios

	Company	Industry	Sector	S&P 500
P/E Ratio (TTM)	19.99	23.62	14.90	17.79
P/E High – Last 5 Yrs.	22.18	60.96	66.90	93.10
P/E Low – Last 5 Yrs.	15.06	11.04	14.31	12.33
Beta	0.39	1.08	1.13	1.30
Price to Sales (TTM)	1.65	2.46	1.42	2.24
Price to Book (MRQ)	6.07	2.92	1.08	3.11
Price to Tangible Book (MRQ)	9.50	1.55	1.45	5.60
Price to Cash Flow (TTM)	15.26	17.83	10.41	60.71
Price to Free Cash Flow (TTM)	25.25	15.26	32.75	59.80
% Owned Institutions	–	–	–	–

Dividends

	Company	Industry	Sector	S&P 500
Dividend Yield	2.16	1.65	1.33	1.74
Dividend Yield – 5 Year Avg.	2.65	1.57	1.18	2.48
Dividend 5 Year Growth Rate	-12.44	9.97	9.26	-4.46
Payout Ratio(TTM)	81.92	25.79	17.66	45.15

City Developments Limited (CDL) is a Singapore-based company engaged in property development, ownership and investment holding. Its subsidiaries are engaged in property development and ownership, hotel ownership and operations, a club operation and ownership, investment in properties and in shares, property management, project management and consultancy services, and providers of information technology and procurement services.
The Company operates under four segments: property development, hotel operations, rental properties and others. Its subsidiaries include Allinvest Holding Pte Ltd, Aston Properties Pte Ltd, CBM Pte. Ltd., CBM Parking Pte. Ltd., CDL Land Pte Ltd and CDL Properties Ltd.
City Developments said on Monday its joint venture has secured a $1.6 billion loan partly to finance the construction of South Beach, a commercial development in Singapore.
The five-year $1.6 billion secured term loan is provided by a syndicate comprising DBS Bank, United Overseas Bank, Oversea-Chinese Banking Corporation , The Hongkong and Shanghai Banking Corp and Sumitomo Mitsui Banking Corp, it said in a statement.
Part of the funds will also be used to refinance the $800 million bank loan facility for the project, which is a joint venture between City Developments and Malaysia’s IOI , the statement said.

Valuation Ratios

	Company	Industry	Sector	S&P 500
P/E Ratio (TTM)	14.91	16.33	16.77	17.79
P/E High – Last 5 Yrs.	34.69	19.18	111.62	93.10
P/E Low – Last 5 Yrs.	10.46	3.91	84.77	12.33
Beta	1.46	0.40	0.98	1.30
Price to Sales (TTM)	3.37	6.35	5.03	2.24
Price to Book (MRQ)	1.65	1.85	1.41	3.11
Price to Tangible Book (MRQ)	1.65	2.70	1.84	5.60
Price to Cash Flow (TTM)	11.01	13.86	15.57	60.71
Price to Free Cash Flow (TTM)	37.24	2.74	3.08	59.80
% Owned Institutions	–	–	–	–

Dividends

	Company	Industry	Sector	S&P 500
Dividend Yield	0.69	1.38	1.76	1.74
Dividend Yield – 5 Year Avg.	0.75	0.19	1.29	2.48
Dividend 5 Year Growth Rate	-4.36	2.80	6.81	-4.46
Payout Ratio(TTM)	22.24	12.83	15.61	45.15

In Singapore yesterday the Straits Times Index closed at 3,144.38, down 0.28 per cent, or 8.92 points.
About 1.2 billion shares exchanged hands.
Losers beat gainers 309 to 158.
Shayne Heffernan
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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For More Information Contact
Chutinush Taksinapinunt (ANISTA)
Business Development Director
Heffernan Capital Management
Info@Heffcap.com
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Suite 53 Athenee Tower 63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 THAILAND
Tel: +66 2 126 8045
Fax: +66 2 126 8080
Mobile: +66 8 5997 0635
Email : info@heffcap.com
New York
347 5th Avenue, Suite 1402-508 NY, NY 10016
Tel: +1 646-403-9881
Fax: +1 646-403-8014
Singapore
3 Raffles Place #07-01 Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Info@Heffcap.com