Rabu, 20 Februari 2013

The Star Online: World Updates

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The Star Online: World Updates


Mexico security forces abducted dozens in drug war - rights group

Posted: 20 Feb 2013 09:01 PM PST

IGUALA, Mexico (Reuters) - Dozens of people were abducted and murdered by Mexican security forces over the past six years during a gruesome war with drug cartels, Human Rights Watch said on Wednesday, urging President Enrique Pena Nieto to overhaul the military justice system.

Photographs of five of the six young men abducted by soldiers are seen at a desk in Iguala, in the Mexican state of Guerrero February 20, 2013. REUTERS/Tomas Bravo

Photographs of five of the six young men abducted by soldiers are seen at a desk in Iguala, in the Mexican state of Guerrero February 20, 2013. REUTERS/Tomas Bravo

The rights group said that since 2007 it has documented 149 cases of people who were never seen again after falling into the hands of security forces, and that the government failed to properly investigate the "disappearances."

"The result was the most severe crisis of enforced disappearances in Latin America in decades," the U.S.-based group said. (Human Rights Watch report: http://r.reuters.com/fyk26t)

It recommended reforming Mexico's military justice system and creating a national database to link the missing with the thousands of unidentified bodies that piled up during the military-led crackdown on drug cartels.

The report was a grim reminder of the dark side of the war on drug cartels that killed an estimated 70,000 people during former President Felipe Calderon's six-year presidency.

The report also illustrates the obstacles that President Pena Nieto, who took office in December, faces in trying to stem the violence, restore order over areas of the country controlled by the drug cartels and end abuses by security forces.

For nearly three years, 56-year-old shopkeeper Maria Orozco has sought to discover the fate of her son. She says he was abducted along with five colleagues by soldiers from the nightclub where they worked in Iguala, a parched town south of the Mexican capital.

She says a grainy security video, submitted anonymously, shows the moment in 2010 when local soldiers rounded up the men.

"We used to see the military like Superman or Batman or Robin. Super heroes," said Orozco. "Now the spirit of the whole country has turned against them."

Hers was one of the cases illustrated in the Human Rights Watch report.

Pena Nieto has vowed to take a different tack to his predecessor Calderon and focus on reducing violent crime and extortion rather than on going head to head with drug cartels.

The government last month introduced a long-delayed law to trace victims of the drug war and compensate the families. It says it is moving ahead with plans to roll out a genetic database to track victims and help families locate the disappeared.

"There exists, in theory, a database with more than 27,000 people on it," said Lia Limon, deputy secretary of human rights at Mexico's interior ministry. "It's a job that's beginning."

Still, impunity remains rife. The armed forces opened nearly 5,000 investigations into criminal wrongdoing between 2007 and 2012, but only 38 ended in sentencing, according to Human Rights Watch.

In its report it describes the impact of the disappearances on victims' families, a daily reality for Ixchel Mireles, a 50-year-old librarian from the northern city of Torreon, whose husband Hector Tapia was abducted by men in federal police uniforms.

Neither Mireles nor her daughter has heard from Tapia since that night in June 2010.

"I want him to be alive, but the reality just destroys me," said Mireles. "I just want them to give him back, even if he is dead."

Since her husband's disappearance, Mireles has struggled financially, having lost his 40,000 pesos (2,065 pounds) a month salary. She has moved her daughter to a cheaper university and can barely keep up payments on her house.

"I now travel by foot," she said, noting that Mexico's social security system does not recognize the disappeared.

Some family members of the disappeared have asked for soldiers guilty of rights abuses to be judged like civilians, a move Mexico's Supreme Court has approved.

"To us it just seems that the military is untouchable," said Laura Orozco, 36, who says she witnessed her brother's military-led abduction. "They're bulletproof."

(Additional reporting by Michael O'Boyle,; Editing by Simon Gardner, Kieran Murray and Lisa Shumaker)

Copyright © 2013 Reuters

U.S. seeks to tackle trade-secret theft by China, others

Posted: 20 Feb 2013 07:50 PM PST

WASHINGTON (Reuters) - Faced with the growing theft of U.S. trade secrets, the White House said on Wednesday it was stepping up diplomatic pressure and mulling tougher laws to stem the threat to American businesses and security from China and other nations.

U.S. Attorney General Eric Holder gestures during a news conference to announce a major financial fraud enforcement action at the Justice Department in Washington February 5, 2013. REUTERS/Yuri Gripas

U.S. Attorney General Eric Holder gestures during a news conference to announce a major financial fraud enforcement action at the Justice Department in Washington February 5, 2013. REUTERS/Yuri Gripas

The plan includes working with like-minded governments to put pressure on bad actors, using trade policy tools, increasing criminal prosecutions and launching a 120-day review to see whether new U.S. legislation is needed.

"A hacker in China can acquire source code from a software company in Virginia without leaving his or her desk," U.S. Attorney General Eric Holder said at a White House event to unveil the strategy.

Although the White House report did not cite China by name, many see the Asian giant as the main threat. A study released this week by a private security firm accused the Chinese military of orchestrating numerous cyber attacks against U.S. businesses, a charge Beijing has denied.

The Obama administration said its strategy aims to counter what Holder called "a significant and steadily increasing threat to America's economy and national security interests."

"As new technology has torn down traditional barriers to international business and global commerce, they also make it easier for criminals to steal secrets and to do so from anywhere, anywhere in the world," Holder said.

Last week, Representative Dutch Ruppersberger, the top Democrat on the House of Representatives Intelligence Committee, said U.S. companies suffered estimated losses in 2012 of more than $300 billion due to theft of trade secrets, a large share due to Chinese cyber espionage.

The White House report listed 17 cases of trade-secret theft by Chinese companies or individuals since 2010, far more than any other country mentioned in the report.

U.S. corporate victims of trade-secret theft have included General Motors, Ford, DuPont, Dow Chemical, Motorola, Boeing and Cargill. A target company can see the payoff from research investment evaporate as a result of corporate espionage and lose market position, competitive advantage and efficiencies.

"We have repeatedly raised our concerns about trade-secret theft by any means at the highest levels with senior Chinese officials and we will continue to do so," said Robert Hormats, an undersecretary of state.

Those cases cited mostly involved employees stealing trade secrets on the job rather than cyber attacks.

Victoria Espinel, the White House intellectual property rights enforcement coordinator, said the effort aims to protect the innovation that drives the U.S. economy and job creation.

MIXED RESPONSE

Cybersecurity and intelligence experts welcomed the White House plan as a first step, but some said much more needed to be done.

"You've got a nation-state taking on private corporations," said former CIA Director Michael Hayden. "That's kind of unprecedented ... We have not approached resolution with this at all."

The U.S. Chamber of Commerce, the nation's largest business lobby, offered a lukewarm statement of support, while other industry groups expressed more enthusiasm for the effort.

"We strongly endorse and applaud the administration's focus on curbing theft of trade secrets, which poses a serious and growing threat to the software industry around the world," said Business Software Alliance President and CEO Robert Holleyman.

The report that laid out the strategy repeated a 2011 White House recommendation that the maximum sentence for economic espionage be increased to at least 20 years, from 15 currently.

Another part of the solution is promoting a set of "best practices" that companies can use to protect themselves against cyber attacks and other espionage, Espinel said.

The report also said the U.S. Federal Bureau of Investigation was "expanding its efforts to fight computer intrusions that involve the theft of trade secrets by individual, corporate and nation-state cyber hackers."

In an interview, U.S. Trade Representative Ron Kirk said the problem of trade-secret theft in China was a factor in the decisions of some U.S. companies to move operations back to the United States.

The companies have "had very frank conversations with the Chinese, (saying) 'You know it's one thing to accept a certain level of copyright knock-offs, but if you're going to take our core technology, then we're better off being in our home country,'" Kirk told Reuters.

(Additional reporting by Matt Spetalnick and Deborah Charles; Editing by Tim Ahmann and Eric Beech)

Copyright © 2013 Reuters

U.S. seeks to tackle trade secret theft by China, others

Posted: 20 Feb 2013 05:44 PM PST

WASHINGTON (Reuters) - Faced with what experts say is growing theft of U.S. trade secrets by China and other nations, the White House on Wednesday vowed to protect American businesses and economic security more aggressively and consider tougher laws at home.

U.S. Attorney General Eric Holder gestures during a news conference to announce a major financial fraud enforcement action at the Justice Department in Washington February 5, 2013. REUTERS/Yuri Gripas

U.S. Attorney General Eric Holder gestures during a news conference to announce a major financial fraud enforcement action at the Justice Department in Washington February 5, 2013. REUTERS/Yuri Gripas

The White House did not directly cite China, which many see as the main threat and did not propose new penalties on perpetrators. A study released this week by a private security firm accused the Chinese military of orchestrating numerous cyber attacks against U.S. businesses, a charge Beijing has denied.

The Obama administration said its strategy aims to counter what U.S. Attorney General Eric Holder called "a significant and steadily increasing threat to America's economy and national security interests."

"As new technology has torn down traditional barriers to international business and global commerce, they also make it easier for criminals to steal secrets and to do so from anywhere, anywhere in the world," Holder said at a White House event to unveil the strategy.

He said the perpetrators include "individuals, companies and even countries that are eager to tilt the playing field to their advantage."

The plan includes working with like-minded governments to put pressure on bad actors, using trade policy tools where possible, increasing criminal prosecutions and launching a 120-day review to see whether new legislation is needed.

While the report did not specifically name any country as the main culprit, it listed 17 cases of trade secret theft by Chinese companies or individuals since 2010, far more than any other country mentioned in the report.

"We have repeatedly raised our concerns about trade secret theft by any means at the highest levels with senior Chinese officials and we will continue to do so," Under Secretary of State Robert Hormats said.

Those cases cited mostly involved employees stealing trade secrets on the job rather than cyber attacks. U.S. corporate victims of the theft included General Motors, Ford, DuPont, Dow Chemical, Motorola, Boeing and Cargill.

Last week, Representative Dutch Ruppersberger, the top Democrat on the House of Representatives Intelligence Committee, said U.S. companies suffered estimated losses in 2012 of more than $300 billion due to trade secret theft, a large share due to Chinese cyber espionage.

Cybersecurity and intelligence experts welcomed the White House plan as a first step, but some said much more needed to be done.

"You've got a nation state taking on private corporations," said former CIA director Michael Hayden. "That's kind of unprecedented ... We have not approached resolution with this at all," he said.

The U.S. Chamber of Commerce, the nation's largest business lobby, offered a lukewarm statement of support, while other industry groups expressed more enthusiasm for the effort.

"We strongly endorse and applaud the administration's focus on curbing theft of trade secrets, which poses a serious and growing threat to the software industry around the world," said Business Software Alliance President and CEO Robert Holleyman.

BUILDING ON EXISTING EFFORTS

Victoria Espinel, the White House intellectual property rights enforcement coordinator, said the new strategy improves existing government efforts to protect the innovation that drives the U.S. economy and job creation.

The report that laid out the strategy repeated a 2011 White House recommendation that the maximum sentence for economic espionage be increased to at least 20 years, from 15 currently.

Another part of the solution is promoting a set of "best practices" that companies can use to protect themselves against cyber attacks and other espionage, Espinel said.

The report also said the U.S. Federal Bureau of Investigation was "expanding its efforts to fight computer intrusions that involve the theft of trade secrets by individual, corporate and nation-state cyber hackers."

In an interview, U.S. Trade Representative Ron Kirk said the problem of trade secret theft in China was a factor in the decisions of some U.S. companies to move operations back to the United States.

The companies have "had very frank conversations with the Chinese, (saying) 'You know it's one thing to accept a certain level of copyright knock-offs, but if you're going to take our core technology, then we're better off being in our home country,'" Kirk told Reuters.

(This story was corrected to fix Hormats' title to under secretary from deputy secretary in the eighth paragraph)

(Additional reporting by Matt Spetalnick and Deborah Charles; Editing by Doina Chiacu, Bill Trott, Todd Eastham, Tim Ahmann and Cynthia Osterman)

Copyright © 2013 Reuters

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Aaliyah eyes finals spot in her first major outing

Posted: 20 Feb 2013 05:30 PM PST

PETALING JAYA: Ten-year-old Aaliyah Yoong Hanifah is relishing the prospect of competing in her first ever IWWF Junior World Waterski Championships in Muwala, Australia starting today.

Aaliyah, a primary five student at Nexus International School, is a hot young prospect in the girls' tricks event and is banking on improving her personal best and qualify for the finals.

The competition is one of eight international events that the youngster is slated to take part in this year.

The other events are in Indonesia, France and Malaysia.

"My target in the first of my Junior Worlds is to be able to better my personal best performance of 4,220 points in the tricks event," said Aaliyah, who will compete in the girls' Under-17 category.

"If I can make around 4,500 points, I stand a good chance of finishing in the top 12 (preliminary round) tomorrow and hopefully enter the finals," she added.

The competition, held at the Max Kirwan Lakes, 350km north of Melbourne, will feature 27 girls from 15 countries in the Under-17 category.

Her father and coach, Hanifah Yoong said the meet will be an acid test for the young prodigy.

"Aaliyah is ranked 18 among the 26 girls in the competition but she has since improved further in training. Now is the test to see where she stands among the world's Under-17 skiers," said Hanifah.

"Anything can happen in the tricks discipline but we believe she is mentally prepared to get into the finals."

American Erika Lang, 17, the top ranked Under-17 skier is a firm favourite to take the title.

Others in the fray include Americans Anna Gray and Brooke Baldwin as well as Canada's Neilly Ross and Italian Alice Bagnoli.

Monsalve confident he can win the LTdL overall title again

Posted: 20 Feb 2013 05:28 PM PST

LANGKAWI: Returning with a new team for Le Tour de Langkawi (LTdL) this year, 2011 winner Yonnatha Monsalve believes he can emerge as the overall winner again.

The Venezuelan will be the sole hopeful for his team Vini Fantini to win the overall classification title as he has taken the role of team leader in the race.

Monsalve had to resort to being just a lieutenant to Jose Serpa in the Androni Giocattoli team when Serpa won his second overall title in LTdL. But Monsalve penned a move to Vini Fantini on a two-year contract in October last year to aim for a bigger role.

"I think I'm in a good shape for the race and I can say that I'm 90% ready to challenge for the overall title," said the 23-year-old Monsalve.

The race, which will start today with a 162.7km stage from Kangar to Kulim will not present climbers like Monsalve an early chance to show their hands as eight out of 10 stages are sprint stages.

Only the climb up Cameron Highlands (Stage 3) and Genting Highlands (Stage 5) will likely decide the overall title.

But with five ProTour teams in the fray this year compared to two last year, the battle for the overall title will be wide open.

Although ProTour teams like Blanco, Astana, Garmin-Sharp, Orica-Green Edge and Omega Pharma-QuickStep are eyeing the sprints in the race, it will be hard to dictate the race at the front this time.

Threat for the overall classification could come from other pro continental teams and lesser known continental teams.

Pro continental outfit Europcar have Tour de France mountain stage winner Pierre Rolland in their ranks and although it is still early in the season, the Frenchman should not be discounted for the overall title.

"I love the stage in Genting – it's beautiful. I'm back here again and that means I like it here very much," said Rolland.

Rolland made his first appearance in the LTdL in 2011 and finished 12th overall and 1:48 behind Monsalve.

The Frenchman opted to spend his time racing in warmer climes here than competing in Europe as he is looking forward to a better showing this season.

"I will take it stage by stage and if by the end of the Cameron (Highlands) stage I'm in good spot for the overall classification, then maybe I will try my luck in Genting (Highlands)," said Rolland, who won the best young rider award in the Tour de France in 2011.

Five ProTour teams to spice up Tour de Langkawi this year

Posted: 20 Feb 2013 03:15 PM PST

LANGKAWI: The battle for stage wins in Le Tour de Langkawi (LTdL) this year will be taken up to a new level with the arrival of five ProTour teams who are hungry for wins at the start of the season.

Team Blanco, formerly known as Rabobank, have Theo Bos as their leader in the sprints. Bos already had two podium finishes this year at the Volta ao Algarve in Portugal last week. He finished third in the first stage and won the second stage.

Astana, meanwhile, will be pinning their hope on LTdL stage win record holder Andrea Guardini, who has 11 wins to his name. But the Italian sprint prodigy has yet to win a stage in Astana colours this year.

He finished third in one stage of the Tour of Qatar earlier this month behind winner Mark Cavendish.

"The fight for stage wins will be very tough this year. I think Blanco and Astana will try very hard to control the race for sprints. I'm just eager to get my first win for Astana," said Guardini.

Bos will be eager to perfect his sprint train ahead of his bigger objective if the season and that is possibly the Giro d'Italia.

The Dutchman is testing his own sprint train as the team also have another sprinter, Mark Renshaw, who has a different programme this year.

Last season, both sprinters had limited chances to go all out for wins as sometimes one of them had to work for the other.

Bos will have the services of Jetse Bol, Tom Leezer, Jos Van Emden and winner of 10 stages in LTdL, Graeme Brown in the sprints.

Marc Goos, meanwhile, will have a free rein in the climbing stages.

"We are looking at the sprints here and that is our main objective. Brown will be the main leadout man for me so he won't be looking to level with Guardini," said Bos in jest, as Brown was the former record holder for stage wins with 10 victories in the LTdL before Guardini beat it last year.

Meanwhile, local lad Mohd Harrif Salleh of the Terengganu Cycling Team, said he will have his work cut out to win stages in the races this year with so many big names in the fray.

"But I will try my best to get good results in all the stages. That doesn't mean that I won't try anything ... but it will be hard," said Harrif, who finished third in one stage last year.

Kredit: www.thestar.com.my

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Malaysian ringgit near 3-week low despite strong GDP data

Posted: 20 Feb 2013 06:58 PM PST

SINGAPORE: The Malaysian ringgit fell to a near three-week low against the dollar on Thursday as interbank speculators shrugged off stong economic growth data and added dollar positions on expectations the U.S. Federal Reserve may stop buying bonds sooner than expected.

The ringgit slid 0.2 percent to 3.1020 per dollar as of 0232 GMT, after hitting 3.1050, its weakest since Feb. 4.

"It is an environment of a firm dollar after last night's Fed's minutes," said a senior Malaysian bank dealer in Kuala Lumpur.

On Wednesday, minutes of the Fed's last policy meeting showed some policymakers thought the Fed may have to slow or stop buying bonds before seeing a pickup in employment.

"In the short term, we are buying dollar, although in medium term, we will buy the ringgit," said the trader, adding he expected the ringgit to head to 3.1140 and 3.1200.

Investors are also cautious over the upcoming Malaysian general election, which must be called by the end of April. The ringgit has lost 1.4 percent to the dollar so far this year and local stocks have fallen more than 4 percent as political uncertainty grows.

Malaysia's financial markets were caught napping in 2008 when shock gains by the opposition redrew the country's political map and sparked a 10 percent one-day plunge in the main index.

The scope for a surprise is very much alive five years later due to a lack of reliable opinion polls and signs that the three-party opposition led by former deputy prime minister Anwar Ibrahim is mounting a well-organised campaign.

Still, some investors expected the ringgit to eventually benefit from the country's strong economic fundamentals.

Malaysia's economy grew at its fastest pace in more than two years in the last quarter of 2012, data showed late on Wednesday.

"We see the election uncertainty as transitory and expect continued portfolio inflows this year in the context of robust economic growth, a growing current account surplus and benign inflation," Barclays said in a note. - Reuters

 

KL Kepong falls on weaker earnings, shares go ex

Posted: 20 Feb 2013 06:54 PM PST

Published: Thursday February 21, 2013 MYT 10:55:00 AM

KUALA LUMPUR: Shares of Kuala Lumpur Kepong (KLK) fell as much as 1.8% or 36 sen on Thursday after it earnings for the first quarter ended Dec 31, 2012 were below expectations and as its dividend of 50 sen a share went ex.

At 10.31am, KLK was down 22 sen to RM20.60. There were 130,900 shares done at prices ranging from RM20.46 to RM20.66. Its share price rose 12 sen to RM21.32 on Wednesday ahead of the ex date for the dividend.

The FBM KLCI fell 9.13 points to 1,604.20. Turnover was 279.14 million shares valued at RM222.48mil. There were 91 gainers, 302 losers and 223 counters unchanged.

CIMB Equities Research said KLK's Q1 results fell short of expectations, being only 23% of its full-year forecast and 21% of consensus numbers.

"The key culprit was a lower-than-expected crude palm oil (CPO) price achieved, which wiped out the impact of stronger output and better manufacturing contributions.

"We cut our FY13 earnings forecast by 10% for the lower Q1 CPO price and reduce FY14-15 by 1-5% for higher production costs. This shaves 2% off our sum-of-parts based target price. The Q1 results letdown and KLK's rich valuations reinforce our Underperform rating on the stock," it said.

 

DRB-Hicom’s CTRM purchase viewed positively

Posted: 20 Feb 2013 06:30 PM PST

DRB-HICOM BHD

By CIMB Research

Outperform

Target Price: RM3.27

DRB-Hicom's defence unit Deftech is paying RM298.3mil for a 96.9% stake in Composites Technology Research Malaysia Sdn Bhd (CTRM) that manufactures composite components for the aerospace and non-aerospace industries.

The deal was done at favourable valuations and would strategically support DRB-Hicom's defence operations. There are no changes to our net tangible assets-based target price and earnings per share (EPS) forecasts.

We believe the deal is positive and will complement DRB-Hicom's defence operations, which are one of the many non-automotive catalysts within the group. We maintain our "outperform" call.

We understand that CTRM will be immediately earnings-accretive to DRB as the valuation of CRTM was done at a price-to-earnings ratio range of three times. Based on limited guidance from management, we believe CTRM could contribute RM50mil to RM70mil to the bottomline or 8% to10% of our financial year ending Mar 31, 2014/2015 EPS forecasts after taking into account net acquisition costs.

Most of the purchase price of RM298.3mil will be used to settle outstanding debt in CTRM and we believe the Ministry of Finance's main motive for the disposal is to take debt off its balance sheet and transfer the future capital commitments of the company to the private sector.

Apart from the earnings contribution, DRB-Hicom expects CTRM to be a key unit supporting its defence ambitions, especially in the design and production of composite frames for its AV8 armoured vehicle contracts, and to extend opportunities in aerospace where DRB-Hicom has an existing collaboration agreement with SAAB. We remain positive on DRB-Hicom as a compelling value play ready to be unlocked via restructuring.

PADINI HOLDINGS

By Alliance Research

Sell (Downgrade)

Target price: RM1.60

PADINI is due to release its second quarter ending June 30, 2013 results on Feb 23, 2013, which we believe is likely to fall short of our and market's expectations as management flagged the risk of weakening retail sentiment, even a month before the Chinese New Year this year.

As a result, Padini adopted more aggressive promotion and discounting activities over the past few months to boost its sales at the expense of profit margin, we believe.

We are concerned that these discounting activities will persist and become a long-term phenomenon to the group, especially as consumers are getting increasingly sophisticated due to the influx of international brands.

Furthermore, management reiterates that any contribution from its venture in Indonesia (Vincci) will be slow or insignificant to the group in the first two to three years, as it takes a conservative approach to penetrate the market (five new outlets per annum), which could only translate to 1% to 3% additional profit per annum to the group.

As of today, its master franchisee in Indonesia, FJ Benjamin has already opened one Vincci store in Jakarta, which has been generating decent sales since its opening in December last year.

On the positive front, Padini has started selling its Vincci shoes in the e-commerce space via Zalora.com, an Asia online fashion store, which was set up in late 2011.

Nonetheless, the group has yet to formulate any plans to monetize its well-followed facebook fans page, which has 365k followers as of today. Management reveals that there is no immediate plan to penetrate the e-commerce space on its own.

With regards to its brick and mortar business, there will be no new stores opening in financial year 2013. However, management has already identified five new outlets opening (three Brands outlets, two Padini concept stores) in financial year ending June 30, 2014, Gurney Paragon in Penang in mid-2013 and Imperial City Mall in Sarawak in second half of 2013 will have both Brands outlet and Padini concept store each while another Brands outlet will be opened in a mall in Seremban in the second half of this year.

In view of intensifying price competition among fashion retailers and increasingly cautious retail sentiment, we cut Padini's financial year 2013 to 2015 earnings per share estimates by 14% to 17% per annum. The drop in earnings is mainly attributed to lower same-store sales growth assumption for Brands outlet in financial year 2013, from 20% year-on year (y-o-y) to +10% y-o-y, and margin compression due to stiff competition.

Post our earnings cut, we anticipate Padini earnings in financial year 2013 to contract by 5.2% y-o-y, before growing 6.4% and 9.4% in financial year 2014 and 2015 respectively.

In a nutshell, we are turning cautious on Padini as we anticipate the company's three-year earnings compound annual growth rate (CAGR) between financial year 2013 and 2015 to slow down from its five-year historical CAGR of 24.3% to 3.4%.

As a result, we reduce our target price-earnings (P/E) ratio for Padini from 13 times 12-month forward P/E to 11 times, to reflect the slowing earnings growth over the next three years.

Hence, we downgrade our call on Padini from buy to "sell" with a lower target price of RM1.60 (-31.6%), based on 11x times 12-month forward P/E. Our target price implies 13% capital downside.

 

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Actor Fizz Fairuz calls off engagement after one week because ex-fiancee was already married

Posted: 20 Feb 2013 03:17 PM PST

ACTOR Fizz Fairuz has called off his one-week engagement after learning that his former fiancee was already married to a businessman.

"I was shocked to find out that she was someone else's wife," Harian Metro quoted him as saying.

The engagement ceremony between the actor and the 26-year-old from Kuantan on Feb 10 had shocked many as he had been with actress Almy Nadia, 27, for almost seven years.

"I may have been charmed by her," he said, adding that the woman was the second wife of a 40-year-old businessman and they got married in Southern Thailand a few years ago.

"Last Thursday, a friend of my former fiancee's sister forwarded a message about her status.

"I also met with her husband on Saturday, who confirmed their relationship, and we decided to end it," said Fizz, who acted in the movie Nur Kasih.

He said they met on location during filming last year and became close as they had mutual friends.

"However, I did not know her background, where she works, or any of her family members.

"I only met her family during the engagement ceremony," he said.

He also apologised to Almy Nadia for rushing into the engagement and hurting her feelings.

> A man died after drinking coffee at a hawker centre in Jalan Khoo Hun Yeang in Kuching, reported Kosmo!

The 54-year-old victim is believed to have died because of high blood pressure.

Kuching OCPD Asst Comm Roslan Bek Ahmad said Mohamad Ayob Mohamad Yassin from Kampung Rampangi was having breakfast with his wife Jaedah Busamah, 42, at the time and did not show any sign of illness.

Difficult to fix a ‘broken bracelet’

Posted: 20 Feb 2013 03:16 PM PST

The quarrel between DAP and PKR in Johor is centred around the parliamentary seat of Gelang Patah which means broken bracelet' in Malay an apt description of the ties between the two parties in the state.

THE war of words between DAP and PKR in Johor has grounded to a stop for now, at least. Or as Johor reporters put it, Johor DAP chief Dr Boo Cheng Hau has been "zipped up".

DAP called for a ceasefire between Dr Boo and PKR's Johor chief Datuk Chua Jui Meng but as some say, the "rice has turned to porridge" the situation is beyond repair.

The slanging match between them the last few weeks has been quite astonishing and it is hard to see how the two of them can work together in the general election.

The last time there was this much tension between DAP and PKR was when Datuk Mansor Othman was caught calling Penang Chief Minister Lim Guan Eng a "cocky, arrogant Tokong".

The name-calling between Dr Boo and Chua has been worse. Chua has referred to his DAP counterpart as "amateurish" and "ridiculous" whereas Dr Boo has gone as far as calling for the PKR "overlord" to be replaced in Johor.

But the most amazing part about the heat and fury between Dr Boo and Chua is that it is centred around a single seat, namely, the parliamentary seat of Gelang Patah.

The Pakatan Rakyat thinking these days is that any seat with a sizeable number of Chinese voters is winnable and every one of them wants to contest in a Chinese-majority seat.

Gelang Patah, near Johor Baru, is one of those so-called winnable seats because it is 54% Chinese, 34% Malay and 12% Indians.

This is despite the fact that MCA had defeated PKR in 2008 by almost 9,000 votes.

Dr Boo's argument is that DAP has a better chance of winning the seat than PKR. One version has it that he wants the seat for his party colleague Liew Chin Tong who is looking for an exit plan from Bukit Bendera in Penang.

The other version is that Dr Boo is eyeing the seat for himself because he is already the assemblyman for Skudai, one of the two state seats located in Gelang Patah.

The tension between the two Johor big guns had simmered for months before it boiled over.

For instance, everyone had noticed that Dr Boo and his clique did not show up for Pakatan's Himpunan Kebangkitan Rakyat in Johor two months ago.

Dr Boo first highlighted it on his Facebook page a couple of weeks ago. Then, he issued a press statement to the Chinese media where he bared his frustrations about Chua whom he labelled as "arrogant" and accused of "turning PKR into another MCA".

Chua is very sensitive about his history as a former MCA leader and he is furious about the attacks.

But his aides have projected their boss as the victim. They said he has never issued any statements about seats in Johor because the decision lies with the top Pakatan leadership.

"Google it, check his Twitter. Jui Meng has not said a thing about contesting in Gelang Patah. These DAP people are greedy for seats. We told our boss to focus on the campaign because Dr Boo is acting like a small boy," said an aide.

The PKR side also accused DAP of being too possessive about the Chinese vote.

They said DAP wants to monopolise the Chinese vote because it wants to be the "tai kor (big brother) of the Chinese".

But a DAP insider has suggested that the quarrel may be more than just the Gelang Patah seat or the clashing egos of Dr Boo and Chua.

He pointed to the way DAP leaders have directly or indirectly defended Dr Boo on the issue.

DAP chairman Karpal Singh did not hold his punches in putting Chua in his place, whereas Lim, who ordered the ceasefire, had commiserated with Dr Boo regarding his "frustrations on being dictated to" in Johor.

Another DAP leader Tan Kok Wai said no disciplinary action would be taken against Dr Boo because what he said "is true".

The Johor dispute basically reflects the discord over seats in several other states, including Penang and Perak, which, as many have noted, used to happen only in Barisan Nasional.

Chua's problem boils down to credibility and baggage.

The DAP side does not respect him because of his history.

He had enjoyed the fruits of power in Barisan and it was only after he failed in his last comeback attempt in MCA that he turned against the hand that had fed him.

DAP does not think he is a winnable candidate and they say Chua, who will be 70 this year, should make way for a younger face in the general election.

The tussle for Gelang Patah is also a sign that Pakatan is not as confident of winning well in Johor as it is makes it out to be.

The fact that DAP and PKR are fighting each other for a handful of Chinese seats suggest that they know that the bulk of Malay and Indian votes have returned to Barisan.

DAP managed to win the Bakri parliament seat by only 722 votes and that was during a perfect storm when everything went their way.

Yet, Pakatan leaders have been telling their supporters that they can increase their Johor seat count from one to 10 parliamentary seats in the general election.

"I am wondering if their prediction is based on the 2008 headcount. A lot of things have changed since 2008, big things are happening in Johor and for their information, we have not been sitting around shaking our legs. We have been addressing issues and we are taking nothing for granted," said Johor Umno deputy chairman Datuk Dr Latiff Ahmad.

For Pakatan to win more seats in Johor, it would require an even more perfect storm than the one in 2008. Nothing is impossible these days but, unfortunately, the only storm on the Johor horizon is the one blowing between DAP and PKR.

Gelang Patah means "broken bracelet" in Malay and that, quite ironically, describes the ties between the two parties in Johor at this point in time.

Five stops for KL-Singapore rail

Posted: 20 Feb 2013 03:15 PM PST

PUTRAJAYA: Five towns in Malaysia have been earmarked as "stop stations" in the initial plan for the proposed high-speed rail link connecting Kuala Lumpur and Singapore.

These towns are Seremban in Negri Sembilan; Ayer Keroh in Malacca; and Muar, Batu Pahat and Iskandar Malaysia in Johor, said Transport Minister Datuk Seri Kong Cho Ha.

The proposed project, which would see travel time between the two capitals cut to just 90 minutes, was expected to attract development to these areas, he said.

"There are many ways of financing this project but so far, no figure (of the initial investment) has been mentioned.

"These matters still need to be worked out and we look forward to working with Singapore in this project," Kong told reporters after attending a Chinese New Year gathering at the ministry here on Wednesday.

"Most of the (rail link) will be (built) above ground," he said, declining to reveal when the project was expected to take off.

On Tuesday, Malaysia and Singapore had jointly announced their agreement to build a high-speed rail link between the city state and Kuala Lumpur, estimated to be completed by 2020.

Currently, travel time between the two capitals is five hours of driving and seven hours by rail.

Both Prime Minister Datuk Seri Najib Tun Razak and his Singaporean counterpart Lee Hsien Loong had described the speed-link project as a "game changer".

Najib said the high-speed rail link would be built via a public-private partnership with strong government participation.

The two countries also agreed on a rapid transit system linking Singapore's Mass Rapid Transit system with Johor Baru.

Lee said Malaysia and Singapore had 12 months to decide on whether to build a bridge or an undersea tunnel between the two countries for the rapid transit system link.

Kredit: www.thestar.com.my

The Star Online: Entertainment: Movies

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Free Stoker Tickets

Posted: 20 Feb 2013 01:25 AM PST

After India's father dies, her Uncle Charlie, who she never knew existed, comes to live with her and her unstable mother. She comes to suspect this mysterious, charming man has ulterior motives and becomes increasingly infatuated with him.

Catch Stoker in cinemas early next month. Thanks to 20th Century Fox, we have 45 pairs of tickets to give away. All you have to do is print this page and bring it along with you to our redemption table at GSC 1 Utama.

Please see details below. Please note that tickets will be given on a first come, first served basis. Each person will be given only one pair of tickets.

Redemption Details

Date: 5 March 2013 (Tuesday)

Time: 8.00pm until all tickets are picked up

Venue: GSC 1 Utama

Screening Details

Date: 5 March 2013 (Tuesday)

Time: 9.00pm

Venue: GSC 1 Utama


Rules & Regulations

1. This redemption is open to all eCentral fans.

2. Print out the contest page and redeem it at the venue given in this article.

3. Each page entitles you to two movie tickets only. Each person is allowed to redeem only once.

4. Tickets are given out on a first come, first served basis.

5. Queue-jumping and reserving places in line during the redemption are strictly prohibited. The organizers reserve the right to refuse tickets to anyone found doing so.

6. Tickets are not exchangeable for cash.

7. This movie is not yet rated.. Movie ratings will strictly apply for this movie. The organizers reserve the right to refuse entry to the cinema hall to those not within the permitted age limit. No exceptions will be made at any time for any reason.

8. I hereby expressly consent to the collection, collation, use and/or disclosure of all my personal data by Star Publications (M) Berhad for the purposes of the Stoker contest.

9. For enquiries, please e-mail ecentralmy@gmail.com

Korean director, Park Chul-Soo dies in crash

Posted: 20 Feb 2013 12:00 AM PST

SOUTH KOREA (Reuters) -- Korean film professionals and cinemagoers are in mourning after veteran film director Park Chul-soo died from a car accident caused by a drunk driver. The accident happened while Park (pic) was on his way home from his office located in the Seongnam-si district in Korea on 19 February.

As soon as the news spread, fans and celebrities were seen making their way to the Seoul National University Bundang hospital where Park's body was brought to.

Those in attendance, apart from his family members were the movers and shakers in the Korean entertainment industry including Venice-winning auteur Kim Ki-duk, veteran film critic Jeon Chan-il, award-winning director Lee Sang-woo and actress Kim Na-mi. Jeon Chan-il, former programmer at the Busan International Film Festival [BIFF] and the current deputy head of the Asian Film Market also expressed his sorrow at the director's untimely death.

"His 301 302 was the first movie which provided us with a new paradigm of Korean cinema. I will miss his vigorous personality and films. He would have made films for at least twenty years more if he hadn`t been taken from us."

Park Chul-soo, who died at the age of 64, is considered to be one of the most important Korean filmmakers of the 1980s and 90s after his directorial debut in 1979 The Rain That Falls Every Night, which brought him with best newcomer award at the 16th Paeksang Arts Awards.

With 301 302, about two extraordinary women living next door, Park recently signed a remake deal with the Hollywood indie film studio Moonstone Entertainment. The U.S. version will be released under the new title Compulsion. His latest movie B.E.D grabbed attention with its bold sexual portrayal when it premiered at the 18th BIFF last year. The passionate director was in the middle of a new film project Love Conceptually, the sequel of his 2003`s controversial pic Green Chair.

Oscar 'losers' to go home winners with US$45,000 gift bags

Posted: 19 Feb 2013 09:55 PM PST

LOS ANGELES (Reuters) - Oscar nominees who don't end up with a coveted gold statuette at the Academy Awards on Sunday won't go home empty handed after all.

Los Angeles-based marketing firm Distinctive Assets will be handing out its annual "Everyone Wins at the Oscars Nominee Gift Bag", valued at more than US$45,000, to the talented and well-dressed "losers," the company said on Tuesday.

Among the items in the gift bags, known as swag bags, are trips to Australia, Hawaii and Mexico, personal training sessions, condoms, a bottle of tequila, hand-illustrated tennis shoes, appointments for injectable fillers and 'portion-controlled' dinnerware for those watching their figure, Distinctive Assets said in a statement.

The Academy of Motion Picture Arts and Sciences, which hands out the Oscars, stopped its practice of giving gift baskets to presenters and performers in 2007 after the practice came under closer scrutiny from U.S. tax authorities.

Celebrities who receive gifts and free trips at awards shows are expected to declare them to the Inland Revenue Service as income and pay the appropriate taxes.

The Distinctive Assets gift bag is not endorsed by the Academy but has been creating consolation goodie bags for 11 years now. The bags are delivered to the losing nominees to their homes directly or through their agents or publicists.

This year's "Not Everyone Wins...." swag bag also includes an under-the-counter water filtration system, acupuncture and aromatherapy sessions, a one-week stay at a fitness and weight-loss retreat, and a one-year membership to London's Heathrow Airport's private VIP service.

Nominees' children also benefit: they get to enroll in professional all-kid circus classes.

The Academy Awards, the highest honors in the movie business, will be handed out a ceremony on Sunday in Hollywood.

Kredit: www.thestar.com.my

The Star Online: Metro: Central

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Metro Watch

Posted: 20 Feb 2013 05:54 AM PST

STAR TREK EXHIBITION

Get a complimentary ticket to Star Trek: The Exhibition when you buy two adult tickets from now till Feb 24. CIMB Credit and Debit card holders get a 10% discount when purchasing tickets and merchandise. The exhibition runs until March 31 from 9am to 5pm daily except Fridays when the National Science Centre is closed. For details, visit startrek.emsexhibits.com or call at 03-2089 3400.

TALENT COMPETITION

Celebrating Kraftangan Malaysia's National Craft Day from Feb 27 to March 11, 10am-10pm at the KL Craft Complex, there will be two competitions held March 10, 2pm. Auditions for singing (March 1-3, 2pm to 5pm) and talent (March 9, 2pm to 5pm) will be held at the complex. For details, visit www.kraftangan.gov.my or call 03-2161 3793/ 03-2162 7533.

TOASTMASTERS MEETING

Open University Malaysia (OUM) Toastmasters club will organise a Chinese New Year Toastmasters meeting this Saturday, 3pm at Theatrette, Block B Area A, OUM, Jln Tun Ismail, KL. All are welcome. No door fee. Any queries call 012-2102977/03-27732395 (Arnie) or 012-9193190 / 03-27732760 (Nazrai).

FREE DODGEBALL SESSION

The YMCA of Kuala Lumpur will be conducting free dodgeball sessions with the help of experienced coaches every Wednesday at the volleyball court from 8pm until 11pm. It is open to all. For more information, call 03-22741439.

FREE TALK

Ventrax Management Sdn Bhd, a training and consultancy company, is organising a free talk on "Dealing With Distraction, Disengagement And Procrastination" by Sandra Ghouse on Feb 22, 6pm-8pm at Level 21 (Bilik Keluli) Banker's Club Kuala Lumpur (Amoda Building) Jln Imbi. For details, call 03-8062 1133 or send an email to sales@ventrax.com.my

KOKESHI EXHIBITION

An exhibition on the kokeshi is currently on till April 25 at the Petaling Jaya Museum in Section 10/7, Taman Jaya, organised by the Petaling Jaya City Council (MBPJ) and The Japan Foundation. For details, call 03-7954 8122

CHARITY COOKING DEMO

The Woman's Auxilliary (WA) Of The Spastic Children's Association Of Selangor and Federal Territory will be having its monthly Charity Cooking Demonstration on Feb 23 at 10am at the Ground Floor of the Spastic Centre (behind Crystal Crown Hotel), 14, Lorong Utara A, off Jalan Utara, Petaling Jaya. For details, call 012-3944281 (Faridah) or 012-9127203 (Margaret).

Clarification

With reference to our report titled "Pay, or else park outside" that appeared on Monday (Metro, Feb 18), it has been pointed out that U Chin Ong is the director of Pama Services Sdn Bhd, which is the management company that oversees the Sea Park Apartments, and not the Joint Management Committee chairman. The error is regretted.

Terengganu judokas rule

Posted: 20 Feb 2013 05:54 AM PST

TERENGGANU judokas proved too good for their opponents in the above-17 category at the Selangor Judo Team Championships held at SMK Seri Bintang Utara, Kuala Lumpur, recently.

The team comprising Nik Norlydiawati Nik Azman, Khairul Khir Johary Abdul Rahman, Yousuff Daniel Fauzi Crus, Muhammad Rozaini Abd Razak and Mohd Farhan Uzair Mohd Fikri scored a 4-1 win over Jagsport B in the championship encounter.

However, Jagsport A, represented by trainees of Singapore's King George, emerged as champions of the eight to 13-year-old contest.

Six exponents ­­— Thibault Philippe Arsene Scherer, Mia Crawford, Mohd Izren Zuhairee, Konomi Shohtoku and Jett and Jade Vongxayasy — formed the victorious line-up.

In each tie decided over five bouts, they remained undefeated in the round-robin competition to finish ahead of four other sides in the age-group.

King George chalked up comfortable victories over The Viper (5-0) and Lion King (4-0) as well as registering identical 3-1 scores when they overcame Ippon and Crouching Tiger.

Jagsport coach Gerard Lim said they were satisfied that their trainees gained exposure competing against their peers in the tournament.

"We are pleased because the trainees had a great time in the competition. We have a big pool of trainees from various centres. It was not a tough decision to field the teams with the exponents available for the recent outing here.

"The more competitive local Malaysia exponents from state training programmes and sports schools offered stiff competition to our challengers, especially in the above-17 category," he added.

Meanwhile, it was an internal affair in the 14-to-16 age-group with Tunku Mahkota Ismail Sports School (SSTMI) tussling for supremacy.

The SSTMI A side triumphed 4-1 over their team-mates from SSTMI B to secure the top spot.

The recent one-day meet drew a total of 30 teams in three categories.

Indonesia's Trisakti also joined the fray in the above-17 category.

Each team fielded a minimum of five competitors and an option for a sixth reserve member in their side.

Kredit: www.thestar.com.my

The Star Online: Lifestyle: Health

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Higher caffeine intake may prolong pregnancy, study finds

Posted: 20 Feb 2013 12:06 AM PST

Expecting mothers have one more reason to ban coffee altogether from their diets after a Swedish study found that caffeine intake is linked to longer pregnancies and low birth weights in babies.

According to new research published in BioMed Central's open access journal BMC Medicine, for every 100 mg of caffeine consumed a day, babies of average expected size -– 3.6 kg –- lost 21 to 28 g in weight among the 60,000 Norwegian women studied.

Babies who are termed small for gestational age at birth, or SGA, are at higher risk of short-term and lifelong health problems, points out the study out of Sahlgrenska University Hospital in Sweden.

Consumption of caffeine from all sources was also found to lengthen pregnancy terms by a rate of five hours per 100 mg of caffeine a day.

Moreover, that figure spiked to an even longer gestational length when caffeine intake came specifically from coffee: eight extra hours for every 100 mg of caffeine a day.

The findings suggest that there's an additional ingredient in coffee responsible for increasing gestational length, or an additional behavioral habit associated with the consumption of coffee that's not present among women who drink only tea, for example, authors point out.

Researchers monitored all sources of dietary caffeine, including coffee, tea, fizzy drinks, chocolate, and cocoa-based cakes and desserts.

Meanwhile, the World Health Organisation's daily recommended caffeine intake for pregnant women is 300 mg a day. The average cup of 8 oz coffee in the US contains between 100 to 200 mg of caffeine.

Another study published last year in the Journal of Caffeine Research likewise found that mothers who drink caffeine and breastfeed may find themselves with sleepless, irritable babies given that infants are unable to metabolize or excrete caffeine efficiently. - Relaxnews

Kredit: www.thestar.com.my

The Star Online: Entertainment: Music

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Thanks y’all!

Posted: 20 Feb 2013 03:14 AM PST

Anuar Zain's 30th anniversary concert was a memorable gesture of appreciation to his legion of fans.

LOVE was definitely in the air in the packed Malawati Indoor Stadium in Shah Alam, Selangor, where singer Anuar Zain performed his mega-concert Anuar Zain – Three Decades Of Music, Love And Passion last Saturday.

It was two days after Valentine's Day but the 6,000 fans lucky enough to be there still felt the love, as well as the energy and vibrance that filled the stadium throughout the night.

Known for his soulful and powerful vocals, Anuar, 43, kept his promise to walk his passionate fans down memory lane through new interpretations of popular hits from his albums.

As expected, the concert was all about Anuar – a solo performance with no dancers on stage, just a 31-member backing team comprising musicians and back-up vocalists led by prominent musician, arranger and composer Mac Chew.

The concert, held to commemorate his 30th anniversary in the music industry, kicked off with I'm the Lucky One amidst screams and cheers from the fans.

Little did they expect to be screaming almost continuously over the next two hours, with Anuar giving his best to his fans.

In each and every song, Anuar delivered his very best – with feeling. The modifications and revised musical arrangements only made the songs deeper and more soulful.

The song list was finalised after numerous hours of discussion with Chew and they finally arrived at a selection that celebrated Anuar's musical journey over three decades.

Next, Anuar performed Bila Resah, followed by Selamat Pagi Sang Suria which was accompanied by striking visuals and superb lighting effects.

The three songs were a prelude of sorts to even more excitement when Anuar belted out popular songs like Jangan Bersedih Lagi, Mungkin, Ajari Aku, Keabadian Cinta and the fast number Kau Bunga Cintaku.

Anuar, who celebrated his 43rd birthday the day before, decided to sing Happy Birthday to all his fans born in the month of February, much to everyone's delight.

He heated up the night further with the popular Perpisahan (the theme song from award-winning movie Cinta), Ku Hanya Milikmu and Ketulusan Hati.

He practically brought the house down when he invited singers Adibah Noor, Dina Nadzir and Elvira to perform Cinta Tak Harus Memiliki which showcased their undeniably superb vocal prowess.

And much to the fans' delight, Anuar also performed his first-ever song, Kain Pelikat, which was recorded with Ellina Razak when he was only 13.

It was fascinating to see how every little gesture and utterance from Anuar elicited screams of excitement from the fans, the majority of whom were women – both young and old. No doubt, many fans were grinning from ear to ear when the crooner handed out dozens of beautiful red roses to some lucky fans that night.

Throughout the concert, Anuar kept his fans feeling appreciated and loved as he shared anecdotes from his life. He attributed his success to the fans' unshakeable support over the years. For him, he said, the fans were the stars of the night and he wanted to keep them entertained and happy.

The night also saw Anuar unveil his new music video Sempurnakan Aku, which is actually a sequel to the successful Ajari Aku. The beautiful actress Nora Danish, who is featured in both videos, also made a special appearance on stage.

The excited crowd lapped it up as songs such as Sesuci Cintamu Bidadari, Semua Untukmu, Teman Terulung and the ever-popular Lelaki Ini were performed next. At the end of the concert, however, no one moved from their seats, calling for one more song.

Amid more screams and cheers, Anuar obliged with Sedetik Lebih, the theme song from the movie Hikayat Merong Mahawangsa.

If his intention for holding the concert was to make his fans happy, Anuar did exactly that. His thousands of adoring fans went home happy on Saturday and will remember the night with smiles on their faces for years to come.

MJ's son, Prince, lands US television gig

Posted: 19 Feb 2013 10:21 PM PST

LOS ANGELES (Reuters) - The teenage son of late pop star Michael Jackson has signed up to be a correspondent for the Entertainment Tonight television show, following in the footsteps of his show business family.

Prince Jackson, 16, was to debut on Entertainment Tonight on Tuesday, interviewing actors James Franco, Zach Braff and director Sam Raimi as they promote their upcoming film Oz The Great And Powerful, the program said.

Prince, who was born Michael Joseph Jackson Jr., is the oldest of Michael Jackson's three children.

Jackson told the syndicated tabloid news show that he wants to eventually get into the film business.

"I'm looking to become well-rounded as a producer, director, screenwriter and actor," he said.

Jackson's sister Paris, 14, signed up in 2011 to star in a movie called Lundon's Bridge And The Three Keys, based on a young adult fantasy novel. The film is still in development.

Michael Jackson died unexpectedly at his home in Los Angeles in June 2009 at age 50 from an overdose of the powerful anesthetic propofol and sedatives.

Kredit: www.thestar.com.my
 

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