PNB's bid for SP Setia hostile

PNB's bid for SP Setia hostile

Malaysia's largest state asset manager, Permodalan Nasional Bhd (PNB)'s bid to take over property developer SP Setia Bhd, is deemed as hostile as the minimum 50 per cent acceptance is easily achievable.

"PNB's mandatory general offer at RM3.90 (a share is) taking advantage of week market sentiment,Tory burch handbags 50 per cent acceptance is likely achievable with Kumpulan Wang Pesaaran and Employees Provident Fund collectively having 18 per cent stake," said HwangDBS Vickers Research today.

PNB now has 33.17 per cent, which triggered the mandatory offer, SP Setia founder Tan Sri Liew Kee Sin holds 11.26 per cent and SP Setia foreign shareholding now stood at 21 per cent.

HwangDBS said PNB's offer to SP Setia was at a discount of 24 per cent to the revalued net asset value (RNAV) of RM5.Breitling watches wholesale11 and took advantage of the current weak market sentiment.

"The 11 per cent premium over the last traded price offer is lower than the 14-31 per cent range seen for previous privatisation/merger and acquisition exercises in the Malaysian property market," it said in its research report.

SP Setia's board of directors (BOD) view the offer as unattractive and are seeking for a competitive bid or higher offer from PNB,Cheap moncler jackets it said.

Hong Leong Investment Bank also echoed SP Setia's BOD view.

The investment bank said the offer in the near-term was positive,Prada handbag sale given that there was a good chance of a better offer price materialising, which in turn may drum up merger and acquisition excitement.

The foul treatment of Steve Bartman

ESPN's 'Catching Hell': The foul treatment of Steve Bartman

He wore glasses, a green turtleneck, and most damningly, Walkman headphones so he could listen to the Cubs’ historic pennant-clinching game on the radio. We would later find out that he was a computer consultant who still lived with his parents, but he looked like a little kid, which is what Fox announcer Steve Lyons initially thought he was. Steve Bartman, the 26-year-old Chicago Cubs fan who reached onto the field for what seemed like a meaningless foul ball in the eighth inning of Game 6 of the 2003 National League playoffs, fit a profile.Nfl bears jersreys cheap Even his name — Bartman — seemed to contribute to making him a villain,,cheap nfl jerseys china, the scapegoat who cost the cursed Cubs a chance for their first World Series title since 1908.

The television cameras lingered on Bartman after Cubs leftfielder Moises Alou failed to come up with the flyball. Lyons added to the palpable anger, saying, “I’m surprised someone hasn’t thrown that fan onto the field.” And when the Cubs subsequently collapsed that inning, allowing the Marlins to score eight runs, the crowd turned on him.,Cheap moncler vests, He had to leave the stadium for his own protection, and the image of him hiding his face while being being escorted away captures a man who himself understands — the radio announcers had probably already whispered his sudden notoriety into his ears — that his momentary and natural impulse to catch a foul ball had resulted in a great sports crime.

Of course, Bartman wasn’t the only man in his row who reached for that foul ball. Nor was he playing shortstop on the easy groundball that Alex Gonzalez subsequently bobbled.Nfl womens jerseys Nor was he one of the Cubs pitchers who squandered a three-run lead when they needed only five outs to make the World Series. He was just a fan, doing what fans do.

Tonight at 8 p.m. on ESPN, Alex Gibney, the documentary filmmaker who made Taxi to the Dark Side, searches for the reclusive Bartman in his documentary, Catching Hell.

Sonia steps in to defuse crisis

Sonia steps in to defuse crisis

With finance minister Pranab Mukherjee back from his visit to the US, Congress president Sonia Gandhi on Monday stepped in to end the five-day-old political crisis triggered by a controversial note by his ministry on 2G spectrum allocation. The note had suggested lapses on the part of
related stories senior minister P Chidambaram, who was then finance minister,,cheap adidas shoes, in preventing the 2G spectrum scam.

Gandhi first had a 25-minute meeting with Chidambaram, who is understood to be upset at the note prepared in March this year.

Mukherjee, who drove straight to his North Block office from the airport after describing Chidambaram as “a pillar of strength”, was next. He was closeted with Gandhi for 45 minutes.

Neither Chidambaram nor Mukherjee spoke to waiting mediapersons outside Gandhi’s residence. The much-anticipated meeting between the two is yet to take place.

But law minister Salman Khurshid came up with an explanation that some Congress leaders indicated could resolve misgivings between the two stalwarts.

“Even if we take facts in the finance ministry note to be correct, the inferences drawn (blaming Chidambaram for the 2G scam) are not correct. If anyone reads the document with common sense,,Jogos Quentes Gold, he will reach the same conclusion,” Khurshid said.

Asked whether Mukherjee agreed with him, the law minister replied: “I hope he endorses my opinion.,BlackBerry Wholesale,”

HT has learnt that Chidambaram presented a chronology of the government’s internal correspondence during his days as finance minister,Discounts 1:1 replica Louis Vuitton handbags particularly during the period between 2007-08 when the alleged scam over the allocation of 2G spectrum took place.

Famous PLA singer says sorry for son's violent attack

Famous PLA singer says sorry for son's violent attack

Famous singer Li Shuangjiang Thursday apologized to a couple that were beaten by his son, after public anger swelled against the so-called 'rich second generation.'

"As the father, I bear the responsibility for my son's behavior. I'm so sorry that I'd rather now be beaten by you," said Li, as pictures surfaced of him sitting with the couple in hospital.

"I will not condone my son's faults, and there will be a settlement," said Li, 72, dean at the Music Department of the People's Liberation Army Academy of Arts.

The brawl happened on Tuesday evening as the couple were driving into their residential community in Beijing's Haidian district.

"We slowed down at the gate of the community. Then we heard a car braking suddenly behind us. We saw a BMW and an Audi. My husband went out to argue with them, then the brawl started," the wife, surnamed Yang, told the Global Times.Cheap moncler jackets

Witnesses say the two male drivers beat them for nearly three minutes while the couple's 5-year-old son watched on from the car.Moncler women's jackets

"My husband had to get nine stitches on his forehead and two on the back of his head. He also has injuries to his nose and right eye," said Yang, whose head was swaddled in gauze.

The Beijing News reported that one of the drivers was Li Shuangjiang's 15-year-old son, Li Tianyi, who does not have a driving license. His car,Tory burch handbags a customized BMW coupe,Anime supplier had no license plate.

The Haidian Public Security Department confirmed to the Global Times that the two young men had been detained for interrogation, and that an investigation was under way.

Kershaw threw 84 of 115 pitches for strikes in his first career start at Turner Field

Kershaw threw 84 of 115 pitches for strikes in his first career start at Turner Field. The left-hander was 4-0 with a sparkling 0.58 ERA in his previous four outings.

"I definitely felt like I had good stuff, some of the better stuff I've had all year," Kershaw said. "I had command of all three pitches. In the seventh, I left some (pitches) up. Wilson was a hanger and with Gonzalez I got behind in the count."

Matt Kemp went deep for the Dodgers, hitting a three-run drive with two out in the third for his 32nd homer.

Randall Delgado, the third rookie starting pitcher used by Atlanta in the series, gave up three runs and four hits in five innings.

The Dodgers put runners on first and second with no outs in the seventh, but Cristhian Martinez struck out James Loney and Kemp and got Juan Rivera to fly out to end the threat.

"We haven't been swept in a three-game series all year and it wasn't looking good with Kershaw on the mound," said Jones, who walked as a pinch hitter in the ninth. "But we caught a break. They made a mistake on defense and Brooks Conrad capitalized and we were able to scrape one across there."

NOTES: Los Angeles 2B Justin Sellers stayed in the game after Delgado hit him on the right wrist in the third inning. ... Braves RHP Tommy Hanson, on the disabled list with shoulder tendinitis, will try some long toss Monday in Philadelphia. Atlanta has no timetable for his return. ... Braves rookie OF Antoan Richardson, whose contract was purchased from Double-A Mississippi, singled in his first career at-bat as a pinch hitter in the fifth. ... Atlanta RHP Peter Moylan was activated from the disabled list after missing 123 games with a strained back. ..Moncler jackets. Wilson was making his Atlanta debut after getting traded from Seattle on Wednesday. ...Nfl bears jersreys cheap Conrad, who landed on the first base bag awkwardly after his pinch-hit single, was walking with an air cast on his right ankle after the game. He doesn't believe the injury is serious.