350 million bus lie

“The Office” cast in the series’ “Work Bus” episode (Image: screengrab from YouTube/The Office) “The Office” nearly put some members of its cast and crew at risk in its “Work Bus” episode, as actors Jenna Fischer and Angela Kinsey revealed they “almost died twice” while filming it back in 2012. Fischer and Kinsey, who played Pam Beesly and Angela Martin in the hit American sitcom, disclosed that they now refer to the “Work Bus” episode as “Death Bus.” This is based on excerpts of their new book “The Office BFFs: Tales of the Office from Two Best Friends,” from Mashable and Insider last Tuesday, May 17. In the episode directed by “Breaking Bad” star Bryan Cranston, Jim Halpert (John Krasinski) convinces Dwight Schrute (Rainn Wilson) that their office is too dangerous to work in and that they should vacate their building. But instead of giving the employees a few days off, Dwight converted a bus into their office instead. Fischer stated that 14 actors, four crew members, desks, … [Read more...] about ‘The Office’ cast ‘almost died twice’ while shooting ‘Work Bus’ episode

Forty-two prisoners were killed during a spat of Brazilian prison riots Monday, and many of those who died reportedly showed signs of asphyxiation, officials said. Monday’s riots came a day after 15 died during fighting among prisoners at a fourth prison in the capital of Brazil’s northern Amazonas state, Manus. The total number of those killed in two days of riots is 57. Recent prison riots in the area have been intense affairs. More than 120 inmates died during 2017 riots at the hands of other prisoners during several weeks of fighting among rival crime gang members at prisons in northern states. Many of the victims that year had their heads cut off or hearts ripped out. A man lights up his cigarette with the flames of a bus burned by anti-government demonstrators during a protest. REUTERS/Adriano Machado “I just spoke with (Justice) Minister Sergio Moro, who is already sending a prison intervention team to the State of Amazonas, so that he can help us in this moment … [Read more...] about 57 Dead In Series Of Brazil Prison Riots. More Than 40 Reportedly Showed Signs Of Asphyxiation

Service members of Ukrainian forces who have surrendered after weeks holed up at Azovstal steel works leave the territory of the plant in Mariupol, Ukraine, in this still image taken from a video released May 18, 2022. (Russian Defence Ministry/Handout via Reuters) - A + A KYIV/MARIUPOL, Ukraine (May 19): Moscow said nearly 700 more Ukrainian fighters had surrendered in Russian-held Mariupol as it shored up a key gain in the south, while the United States became the latest Western country to reopen its embassy in Kyiv. Ukraine has ordered its garrison in Mariupol to stand down, but the ultimate outcome of Europe's bloodiest battle for decades remains unresolved. Top commanders of Ukrainian fighters who had made their last stand at the Azovstal steelworks in the port city were still inside the plant, according to the leader of pro-Russian separatists in control of the area, Denis Pushilin was quoted by local news agency DNA as saying on Wednesday. Ukrainian … [Read more...] about More Ukraine fighters surrender in Mariupol, Russia says; US reopens Kyiv embassy

- A + A HONG KONG (May 19): Hong Kong new listings' volume plunged 90% to a nine-year low this year, data showed, as China's sharp economic slowdown and its regulatory drive cast a long shadow over the city's prospects as a destination for initial public offerings (IPOs). The drying up of share listings in Hong Kong bodes ill for investment banks, who make about a third of their revenue in the region from equity capital market deals, and for the Chinese-ruled territory's status as a global financial hub. Only US$2.1 billion has been raised this year via IPOs and secondary listings in Asia's most popular fundraising venue compared with US$20.7 billion by the same time last year, according to Refinitiv data, the slowest start to a year since 2013. "One of the reasons for the IPO market in Hong Kong falling so sharply is the deteriorating financial performance for most of the applicants in the previous financial year, and it is possible that will be the case for the … [Read more...] about Hong Kong new listings’ volume sinks to nine-year low on China slowdown

- A + A KUALA LUMPUR (May 19): Bintulu Port Holdings Bhd has awarded a RM14.24 million contract extension to Sibu-based Sing Kiong Hong Dockyard Sdn Bhd to hire two units of 25-tonne ship handling tugs complete with crew for its wholly-owned subsidiary Bintulu Port Sdn Bhd (BPSB). In a bourse filing on Thursday (May 19), Bintulu Port said BPSB has issued the letter of extension of contract to Sing Kiong Hong Dockyard for the contract, which is for a 36-month period from May 19, 2022 to May 18, 2025 or until the expiry of the concession period for BPSB to operate Bintulu Port, whichever occurs first. At 3.08pm on Thursday, Bintulu Port shares were unchanged at RM5.08 with 15,000 shares traded. Its market capitalisation was RM2.34 billion. Kang Siew Li … [Read more...] about Bintulu Port awards RM14m contract extension to Sibu-based shipbuilder

This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. - A + A DATUK Ahmad Nazim Abdul Rahman, who joined Lembaga Tabung Angkatan Tentera (LTAT) last June, is its third CEO in two years. With his experience as CEO of Pelaburan Mara Bhd, he seems comfortable discussing investment and asset allocation strategies. But given the short stints of his predecessors, the question remains whether he will stay on long enough at the retirement fund to carry out the reforms that have been put in place. Following are excerpts of The Edge’s interview with Nazim. The Edge: LTAT’s main task is to give good dividends to its members. Since 2018, that has come down quite a bit. Are we going to go back and see the good days of 12% to 15%? Datuk Ahmad Nazim Abdul Rahman : It would not be sustainable to go back to that teen-per cent dividend returns. I’m happy to mention we recently announced a dividend of 4.1%, and that is the highest … [Read more...] about Cover Story: Rehabilitating a RM10 billion portfolio

This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. - A + A BECAUSE military spending has always been shrouded in secrecy, companies involved in the industry are used as conduits to channel kickbacks that go undetected. It is no different with Lembaga Tabung Angkatan Tentera (LTAT) and its subsidiary Boustead Holdings Bhd (BHB), two companies that are major beneficiaries of Malaysia’s defence spending. The defence business is carried out via Boustead Heavy Industries Corporation Bhd (BHIC), in which BHB has a 65% stake. LTAT directly owns 8.16% of BHIC. In the last 15 years, more often than not, the Boustead Group and LTAT were in the limelight for facilitating deals seen largely as not “commercially driven”. From procurement of submarines to land and traffic surveillance systems, LTAT and BHB have been used as vehicles to buy assets at inflated prices. Mainly, the assets are linked to connected individuals. One … [Read more...] about Cover Story: A litany of controversial deals

- A + A KUALA LUMPUR (May 19): Serba Dinamik Holdings Bhd and its four subsidiaries' application for a scheme of arrangement and a restraining order (RO) against its creditors will now be heard before one High Court judge. This follows Justice Ong Chee Kwan from the High Court's commercial division on Thursday agreeing to transfer three of the cases filed before his court to Justice Atan Mustaffa Yussof Ahmad's court. Both Justice Ong and Justice Atan were confirmed as High Court judges last month following their elevation as judicial commissioners. The matter came up before Justice Ong first in the morning when he presided the case involving one of Serba Dinamik directors, Datuk Abdul Kadier Sahib, who has a 16.33% stake in the group, and two subsidiaries — Serba Dinamik Sdn Bhd (SDSB) and Serba Dinamik Development Sdn Bhd (SDDSB). It is understood that Serba Dinamik's counsel Mak Lin Kum told Justice Ong that he intended to apply to transfer these three cases … [Read more...] about Serba Dinamik subsidiaries’ scheme of arrangement and RO will be heard by one judge

This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. - A + A IT is no secret that the RM9 billion littoral combat ship (LCS) project awarded to Boustead Heavy Industries Corp Bhd’s (BHIC) subsidiary 11 years ago has been beleaguered with cost overruns and delays, without a single vessel delivered to date. But how did the situation turn so bad, considering that the project — which has already received RM6 billion in progress payments from the government — has threatened the solvency of BHIC’s parent company, Boustead Holdings Bhd (BHB), and is a major investment of Lembaga Tabung Angkatan Tentera (LTAT)? On Dec 16, 2011, Boustead Naval Shipyard Sdn Bhd (BNS), in which LTAT has an effective stake of 61%, received a letter of award from the Ministry of Defence to deliver six LCS dubbed “Second Generation Patrol Vessels Littoral Combat Ships (Frigate Class)” as part of its fleet renewal plan. BNS was supposed to deliver the … [Read more...] about Cover Story: Tribulations of the LCS project

- A + A SHENZHEN (May 19): Chinese smartphone maker Xiaomi Corp reported a fall in first-quarter (1Q) revenue as Covid-19 controls and lockdowns bit into demand in China while broader economic headwinds affected sales overseas. Revenue in the quarter ending March 31 dropped to 73.35 billion yuan (US$10.85 billion) from 76.88 billion yuan and fell short of the 74.3 billion yuan expected by analysts, Refinitiv data showed. Smartphone shipments fell 22.1% to 38.5 million units in the quarter, Xiaomi said in a statement on Thursday. Adjusted net profit fell to 2.85 billion yuan from 6.09 billion yuan a year earlier. The company, which generates the vast majority of its revenue from selling mobile handsets, said smartphone revenue fell to 45.8 billion yuan in the quarter. … [Read more...] about Xiaomi’s 1Q revenue falls 4.6% due to Covid-19, supply chain disruptions