Khamis, 21 November 2013

The Star Online: Metro: Sunday Metro

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The Star Online: Metro: Sunday Metro


Barn owl drops in and surprises Prime Minister

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A barn owl made a surprise visit to Prime Minister Lee Hsien Loong's office. It had most likely flown into the building overnight and was found perched high and out of reach, said PM Lee in a Facebook post.

He added that the Agri-Food and Veterinary Authority and Jurong Bird Park were called in to help. The bird was later caught and released unharmed behind Sri Temasek.

"The Istana grounds are a green refuge for many species of birds and animals," PM Lee said in his post on Wednesday. "We should preserve and create many such green spaces all over our island, so that in our urban environment we can enjoy the natural flora and fauna of Singapore."

The post has since garnered more than 23,000 likes and shared some 1,400 times, with many applauding the Prime Minister for releasing the bird unharmed. — The Straits Times / Asia News Network

Man jailed for dangling wife out of window

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A heated quarrel between husband and wife turned dangerous when the husband grabbed and lifted his wife's ankles so that half her body was dangling of the kitchen window of their 11-storey flat.

Fortunately, he came to his senses and pulled her in. He had earlier slapped her face, threw a chair at her and threatened to burn her hair.

Jin Qilong, 50, was jailed two months after he pleaded guilty yesterday to hurting his wife, Zhu Hua, 45, and committing a rash act that could have endangered her life.

Pleading for a lenient sentence on his behalf, his wife Zhu Hua, 45, told the court that he was now a changed man and they got along well for the past one and a half years. Jin, a construction supervisor, apologised to his wife in court and said he wanted to become a good father and husband.

He had become angry at 9pm on Jan 24 last year over a taxi driver's refusal to drive him, his wife and 20-year-old daughter to their Tiong Bahru flat as the cabby had somewhere else to go. Jin, a Chinese national and a permanent resident here, became more agitated when his wife tried to explain that Singapore was not Shanghai.

He started accusing her of taking the other man's side and alleged that she was having an affair with the cabbie. The couple took a bus home. In their flat, he drank liquor and kept repeating that she was sleeping with the cabbie.

When she denied this, he slapped her face and threatened to burn her hair with a lighter he held. He then went into the bedroom but did not cool down. When he saw her standing at the kitchen window minutes later, he sneaked up behind her and lifted her by her ankles.

She quickly grabbed the bamboo poles that were placed outside the window and held onto them until she was safely back in the flat.

She took out a Personal Protection Order against him after the incident. — The Straits Times / Asia News Network

Year-end bonus for lower-wage civil servants

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Civil servants will get a year-end bonus of 1.1 months, with the minimum set at S$1,600 (RM4,100) to benefit lower-wage officers, the Public Service Division (PSD) said in a statement on Thursday.

Some 1,300 civil servants earning less than S$1,460 (RM3,750) will get a minimum Annual Variable Component payment of S$1,600, it said. For example, an officer earning a monthly salary of S$1,200 (RM3,080) will get S$1,600 in bonus, which is S$280 (RM718) more than the S$1,320 (RM3,390) he would have received based on 1.1 months of his salary.

"This signals the Government's continued commitment to help lower-wage workers," it said. — The Straits Times / Asia News Network

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The Star Online: World Updates

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The Star Online: World Updates


Chinese property developers target bigger families in smaller cities

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HONG KONG (Reuters) - Chinese developers such as China Overseas Land & Investment Ltd and Country Garden Holdings Company Ltd are likely to build bigger apartments in smaller cities to take advantage of Beijing's new urbanisation drive.

The vast majority of land these companies have purchased for development is in medium-sized cities with fast-growing economies, known as Tier 2 and Tier 3. China has more than 50 cities that fit that description, many of them in the Pearl River Delta and western China, home to thousands of factories feeding the country's vast, labour-intensive export business.

Those cities, with populations up to 10 million, are expected to see an influx of potential property buyers in the coming years after China announced last week that it was revising its hukou residency registration system. Under existing rules, migrant workers who move to cities for jobs are not eligible for social services and cannot buy real estate.

As the policy is gradually eased, allowing more migrants to own property and tap social services, about 100 million people will likely move into cities over the next 17 years, according to rating agency Moody's.

"There are great opportunities in second-tier capital cities," said Liu Zhuogen, executive director at Tonic Industries Holdings Ltd, a Hong Kong-listed overseas platform for mainland developer China Merchants Property Development.

"They have more room for growth and lower risk," he said.

His company is focusing on medium-sized cities in the Pearl River and Yangtze River deltas but avoiding smaller non-capital cities because of concerns about oversupply.

Before the policy changes were announced last week, many mainland developers were holding back, in part because of worries that Beijing would crack down on real estate speculation that has driven up prices in major cities.

The biggest developers were sitting on $25 billion in cash as of midyear, giving them plenty of money to ramp up construction now that the policy shifts are becoming clearer.

China Overseas Land, Country Garden and Shimao Property Holdings Ltd each have more than 93 percent of their land banks in smaller cities, according to BNP Paribas, putting them in pole position to benefit.

The companies did not respond to requests for comment.

More than 90 percent of the new land that China Vanke Co Ltd and Evergrande Real Estate Group Ltd acquired last year was in second- and third-tier cities, research firm Lucror Analytics says.

"Developers are moving into smaller cities in China, either by choice or by force," the research firm wrote in a note to clients.

HEADING WEST

Over the past three years, property developers have concentrated on major cities along the wealthy eastern and southern coasts, avoiding small cities for fear of over-supply. But as empty land becomes scarce, they have ventured into less crowded markets, and the hukou reforms are making those small cities popular once again.

The next phase of development will shift further west, following the manufacturing industry that is moving inland in search of cheaper labour.

Longfor Properties Co Ltd has 36 percent of its land bank in western China, and 37 percent in the Bohai Rim area surrounding Beijing and nearby Tianjin. Greentown China Holdings Ltd has about one-third of its land around Bohai Rim and another third in Zhejiang province, a coastal region bordering Shanghai.

"From a longer-term perspective, developers definitely have to deploy in Tier 2 and Tier 3 cities if they want higher profit margins," said Lina Wong, China investment services managing director at real estate services company Colliers.

"If developers want to catch the demand, they can go to Tier 2 and Tier 3 cities and design their products according to the needs of farmers who first move to the city."

ONE-CHILD POLICY

Last week's economic and social reforms also included easing China's one-child policy, which is expected to provide a double benefit for developers as some parents upgrade to larger units. The policy shift will translate into about 9.5 million additional babies over the next five years, BofA Merrill Lynch says.

"Relaxation of one-child policies should boost upgrade demand. Mid-size property units of 90-140 square meters should benefit the most from this," said Wee Liat Lee, property analyst at BNP Paribas.

While many analysts said larger families will spur upgrade demand and mitigate the downside risk to property demand, some cautioned that the shift could take time. That is reflected in the stock prices of Chinese property developers, which have seen little benefit from the reform news.

Shares of Country Garden have slipped 7.2 percent since Friday, when the reform plans were unveiled, while China Overseas Land has risen 1.5 percent and Evergrande has gained 2.5 percent. That compares with a 5.9 percent gain for the index of Chinese companies listed in Hong Kong.

"(The reform) is good news. Developers will take this factor into consideration and launch more three-bedroom units," Colliers' Wong said.

"But there is still a long way to go. They may decide to buy the house 20 years after now."

(Editing by Anne Marie Roantree and Emily Kaiser)

North Korea marks attack anniversary with threat on South's president

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SEOUL (Reuters) - North Korea marked on Friday the third anniversary of an artillery attack on a South Korean island with a vow to respond to what it called any similar provocation with a strike on the South Korean presidential compound.

North Korea fired scores of artillery shells at South Korea's Yeonpyeong island on November 23, 2010, killing four people including two civilians in one of the heaviest attacks on its neighbour since the Korean War ended in 1953.

It took many months for tension between the rivals to ease but it spiked again in March this year, during annual joint military exercises by the South and the United States. The North, which has conducted three nuclear tests, threatened nuclear attacks against the allies.

The hostility has cooled since then but the bellicose message on the anniversary of the island attack is a reminder of the unpredictability of the North.

"Three years ago the retaliatory blow was confined to the Yeonpyeong island only but this time Chongwadae and other bases of the puppet forces will be put within striking range," said a spokesman for the North's military, according to the North's KCNA news agency.

The South Korean presidential compound in Seoul is known as Chongwadae in Korean and the Blue House in English.

The North has threatened to attack Seoul before but it is seen as highly unlikely as doing so would almost certainly trigger all-out war with the South and the United States which, under a defence treaty, stations 28,500 troops in the South.

In 2010, the North said it was provoked into attacking Yeonpyeong, which is off the peninsula's west coast, because of a live-fire South Korean exercise in the area that dropped shells in its territorial waters.

Earlier in 2010, the North was widely blamed for infiltrating a submarine across the border and sinking a South Korean navy ship with a torpedo killing 46 sailors.

North Korea denied that.

South Korea has strengthen its military presence in the area since 2010 with the deployment of GPS-guided missiles. It has vowed to strike back if hit again.

The maritime border, called the Northern Limit Line, separating the waters off the west coast, was unilaterally drawn at the end of the 1950-53 Korean War by the U.N. forces that fought for the South.

The North does not recognise the line and has demanded a redrawing of the demarcation. Naval clashes do erupt every now and then and sailors on both sides have been killed.

(Reporting by Jack Kim; Editing by Robert Birsel)

Thousands protest against tough new official secrets law in Japan

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TOKYO (Reuters) - Thousands of people protested in Tokyo on Thursday against a proposed secrets act that critics say would stifle information on issues such as the Fukushima nuclear crisis.

The law, proposed by Prime Minister Shinzo Abe's government, would significantly broaden the definition of official secrets, which Abe says is vital for strengthening security cooperation with main ally the United States and other countries.

Tough secrecy regulations before and during World War Two have long made such legislation taboo, but the law is expected to pass when it comes to a vote next week, given the comfortable majority the ruling coalition has in both houses of parliament.

"Without the right to know, democracy cannot exist," said Yasunari Fujimoto, from the Peace Forum citizen's group, who spoke at the protest in a park near parliament.

"If this law comes to pass, our constitution is nothing more than a scrap of paper."

Critics say the law would prevent journalists from investigating official mistakes, such as the collusion between regulators and utilities that contributed to the 2011 Fukushima nuclear disaster.

Under the new law, public servants and others cleared for access to such information could get up to 10 years in prison for leaks. At present, they face one year imprisonment except for defence officials, who are subject to up to five years in prison or 10 years if the data came from the U.S. military.

Journalists and others in the private sector who encourage such leaks could get up to five years in jail if they used "grossly inappropriate" means to encourage leaks.

Protesters packed into a 3,000-seat outdoor theatre in the park, with people standing in the aisles and spilling out into the park. Some held signs saying "Don't take away our freedom."

Organisers put the turnout at around 10,000.

Abe insists the law is also essential to his plan to set up a U.S.-style National Security Council.

Legal and media experts say the law is too broad and vague, making it impossible to predict what would come under its umbrella. The lack of an independent review process leaves wide latitude for abuse, they say.

"This law is absolutely unacceptable. We have a right to know everything," said Akio Hirose, a 54-year-old transport worker.

"After all, we are the voters."

(The story has been filed again to correct paragraph 7, clarifies in paragraph 8 that penalties are up to 10 years, not up to five years, and add comparison with the existing law.)

(Writing by Elaine Lies; Editing by Robert Birsel)

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The Star Online: Entertainment: TV & Radio

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The Star Online: Entertainment: TV & Radio


Doctor in the house

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Matt Smith talks about his awesome adventures as the famous Time Lord.

Stepping into the role as The Doctor on BBC's most iconic television show, Doctor Who, was no easy task for British actor Matt Smith. Then a relative unknown and one of the youngest actors up for the part coupled with the fact that he was coming in after David Tennant, who is arguably one of the most popular actors of Doctor Who, Smith did have his fair share of critics.

However, the actor has proven he is as adept (or inept depending on who you ask) at flying the TARDIS and getting out of mortal danger as every other version of The Doctor before him.

"It's about a silly man who turns up, ready to save the world with a smile," Smith has said of playing the 11th Doctor, who, besides winning fans over, has made bow ties fashionable (sales reportedly sky rocketed in Britain following The Doctor's penchant for bow ties) and believes the fez is "cool" (though this hasn't, and thankfully, been reflected in pop culture).

Smith's incarnation of The Doctor has certainly become entrenched in the legacy of the series.

Smith's era as The Doctor comes to its inevitable end in the upcoming Christmas special and with Peter Capaldi primed for the role as the next Time Lord.

Until then, Smith expounds on the incredible adventures of battling aliens and travelling through time and space with his current companions Amelia Pond (Karen Gillan) and Rory Williams (Arthur Darvill) in Series Seven.

What can we expect from Doctor Who Series Seven?

Matt Smith: (The episode) Asylum Of The Daleks is going to be a cracker. Steven (Moffat) has written an absolute belter and we have made the Daleks scary again, something I am not sure we got right before.

With five big adventures for the Doctor and his companions, this series it is set to be epic.

We have five of the most exciting standalone episodes, with everything from Daleks to dinosaurs and of course, the fall of the Ponds.

The second episode sees viewers taken on an incredible prehistoric adventure with the unusually titled Dinosaurs On A Spaceship. What were your first thoughts when you first heard those four words?

Steven you are a genius! It's Doctor Who in a nutshell. I have always wanted to do a dinosaur episode, he continues, so I was very pleased to get the chance. And the Director Saul (Metzstein) has done a fantastic job, with David Bradley playing a cracking villain. I think it is such a fun episode with a wonderfully crafted script by Chris Chibnall.

During this series your role gets faced with a lot of new challenges. Not only did you get to live out many a childhood dream of becoming a cowboy for the day by riding a horse in the western themed episode, A Town Called Mercy, but you also got the once in a lifetime opportunity ... to ride a dinosaur.

More painful than you can imagine. I had to wear padded trousers! Dinosaurs are a lot lumpier than horses, so it was a painful couple of hours, a laugh though and definitely worth it as it's going to look great.

As the most ambitious series to date, locations play a key role in creating scale and meeting that ambition. You have travelled to the Spanish mountains for Episode 1, Almeria in Spain for Episode 3 and New York for Episode 5.

There is only so much CGI can do. We were in the middle of a western village, which was brilliant for Doctor Who, adding to the imagination of it all. And I am such a fan of New York, and we got to use some properly iconic locations, like Central Park. There is nothing quite like running through Times Square trying to shoot a scene.

As well as visiting new locations and facing new monsters, you got your first taste as The Doctor of what it is like to be on the receiving end of one of the show's most widely known formulas, a change in companion.

It was terribly sad and I do miss them as they are such great chums. We knew it was coming, but just didn't believe it. It is one of those things like when you are on holiday and you suddenly realise it is Friday and you are going home on Monday. But that is what the show is about, evolution and regeneration, and we now have Jenna who is lovely and great.

So, do you agree with Steven Moffat's choice to send them out in an episode with the Weeping Angel?

Oh absolutely, I think I can speak for all of us when I say that the Weeping Angels are one of our favourite monsters. The fact that they don't speak just makes them crueller. And with the last episode set in New York and to have River back, it all just made sense. I really think, Karen (Gillan) and Arthur (Darvill) go with a bang and tear!

What would you miss most about Karen and Arthur?

Stupid dancing, stupid faces and stupid everything! Being ridiculous, there were points when we wouldn't even have conversations, but just make noises at each other. We had a laugh and that really informed the energy and spirit of the show. The relationship between our characters on screen and off screen really blurred!

We've heard that you are renowned for your pranks on set.

I used to hide in [Karen's] trailer a lot and just jump out at her and she is a real screamer. Or I would dance really close to her face, which would also make her scream! It was very much like a brother and sister relationship with Arthur and I pranking her like older brothers!

What can you reveal about the finale?

With the 50th, this is going to be by far the biggest year in the history of the show. And the finale is just the start. It focuses on a pivotal moment in the Doctor's life and the life of his companion. It's a complete game changer and it all starts now.

> Series Seven of Doctor Who airs every Thursday at 7.30pm on BBC Entertainment (HyppTV Ch 614). Don't forget to watch the global simulcast premiere of Doctor Who: 50th Anniversary Special – The Day Of The Doctor on Nov 24 (Sunday) at 3.50am and same day encore at 7.30pm on the same channel.

Related story:

Fifty shades of Who

Jack Black and Diablo Cody team up for new Fox comedy

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Wunderland is a workplace comedy set in a theme park.

Jack Black and Diablo Cody are among the producers of the future sitcom Wunderland, Deadline.com reports.

A workplace comedy, Wunderland will be set behind the scenes at a theme park. Cody will executive produce and supervise the writing process, working with actors and writers Amanda Lund and Matt Gourley.

Black is well acquainted with the duo, as he produced and appeared in their web series Ghost Girls. The comedic actor known for his roles in Tropic Thunder and Be Kind Rewind will work with Lund and Gourley once again as a producer on this latest project.

Black, who has recently made TV appearances on Community and The Office, will soon join Tim Robbins on the set of the HBO TV movie The Brink.

The writer behind the film Juno and the series United States of Tara, Cody is already working for Fox on the teen drama Prodigy and for ABC on the sitcom Alex+Amy. – AFP Relaxnews

Another Fitzgerald adaptation

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HBO drawing inspiration from The Last Tycoon.

PREMIUM channel HBO has drawn inspiration from F. Scott Fitzgerald's unfinished novel The Last Tycoon for a new series set amongst Hollywood studio executives in the 1930s.

Published in 1941, one year after Fitzgerald's death, The Last Tycoon focuses on Monroe Stahr, an ambitious movie producer who rises to the top of the business and ultimately defies his mentor and boss, Pat Brady.

Loosely based on the lives of the true-life Hollywood producers Irving Thalberg and Louis B. Mayer, the story was first adapted for the screen in 1976. Elia Kazan directed Robert De Niro, Tony Curtis, Robert Mitchum, Jack Nicholson and Jeanne Moreau in the film based on a screenplay by Harold Pinter.

HBO has enlisted Billy Ray, a writer on The Hunger Games and Captain Phillips, to write and direct the series based on Fitzgerald's unfinished novel. Chris Keyser (Party of Five) will be the showrunner.

F. Scott Fitzgerald has inspired Hollywood for decades. In recent years, David Fincher adapted The Curious Case of Benjamin Button with Brad Pitt and Cate Blanchett, while Baz Luhrmann directed a new adaptation of The Great Gatsby starring Leonardo DiCaprio and Carey Mulligan. – AFP Relaxnews

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The Star eCentral: Movie Buzz

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The Star eCentral: Movie Buzz


Journey to the dark side

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A gangster tale that's both believable and emotional, Kisah Paling Gengster will pleasantly surprise you.

WHEN you've got eight or nine gangster-themed Malaysian movies already released in cinemas in 2013 alone, it's probably not wrong to say that the market for Malaysian gangster films is kind of saturated at the moment. With overkill being a real danger to Kisah Paling Gengster, the latest in the genre to strut into town, what does star Shaheizy Sam – who has himself starred in other gangster flicks like Kongsi and 8 Jam – think makes this one special?

"It has to be the storyline, which I think is great," said Shaheizy, who plays paramedic Remy in the film. "It's a character-driven movie, and I like the fact that the storytelling is more nuanced and not so single-layered."

In the film, Remy starts out as a shy, honest and innocent individual who slowly gets sucked into the violent and dark world of gangsterism because of an act of kindness on his part.

Director Brando Lee said he conceived the role with Shaheizy in mind and developed the character according to Shaheizy's style of acting. Spending approximately four months to write the screenplay with co-writer Alfie Palermo, Lee believed that going back to basics and having a really strong story would make this movie stand out among the crowd, especially with the current gangster film craze and the seemingly endless news items involving gangsters and shootings that have seen the whole country taking an even more intense interest in the issue of gangsterism.

Taking inspiration from Korean films like Old Boy and modern Hollywood classics like Michael Mann's Heat and The Godfather films, Lee said Kisah Paling Gengster initially started life more as an action-comedy, but gradually changed shape into the heavier terrain of the gangster drama as the writing process progressed. There are still sprinklings of comedy here and there to lighten things up – how can you not have those when Epy Raja Lawak has a supporting role as Remy's best friend Jimmy? Still, this is one of the rare examples of a local film that faithfully and successfully follows the form and structure of a classic genre, resulting in an effort that may be familiar in terms of storyline, yet doesn't lack emotional impact.

People often say that power corrupts, and watching Remy's descent from being a sweet-natured innocent into the depths of violence and power, made more convincing by Shaheizy's absolutely committed performance, was quite a pleasant surprise for this writer. In fact, believability is definitely this film's strong suit as the majority of the characters do look authentic, as do the locations.

Supporting players like Wan Hanafi Su as godfather Ayah Megat, Zul Suphian as Ringo, Wawa Zainal as Remy's sweetheart Rina, Mikail Andre as nemesis Romeo and Fyza Kadir as Ayah Megat's daughter Sofea all gave suitably believable performances devoid of fake and exaggerated posing.

Even the shootouts and gun battles, usually a huge bone of contention for this writer when it comes to local films, are quite realistically staged and presented.

Having handled various weapons on his trips overseas, Lee explained that he more or less served as technical advisor as well when it came to the correct way of handling weapons, often showing the actors how to hold and position the weapons in order not to hurt themselves when firing them.

More impressive are the fight scenes, which, as Shaheizy rightly pointed out, are more "raw" and seem less choreographed than most films of this ilk. A particular standout is the scene where Remy "loses it" in a hand-to-hand fight against three gangsters who have been making trouble at a place under Ayah Megat's protection, eloquently showing Remy's first few baby steps on his plunge into darkness instead of explaining it through dialogue.

With film supposedly being a more visual medium, wherein it's more important to show than to tell, it is gratifying to see a local production with more than a few examples of visually eloquent, meaningful moments like this. And all without sacrificing the entertainment factor which is the reason why most people pay to watch a movie.

The Bahasa Malaysia title may hint at another kind of film, but don't let this dissuade you because it is at heart an old-fashioned gangster tale, one which never gets old – that of innocence corrupted.

‘Boob tube’ no more

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Are the movies losing out to TV's ever-increasing cool factor?

VETERAN TV director Michael Pressman got a surprising response when he asked students in his film directing class to describe their dream jobs.

"Your job," he said they told him recently. "We want to be the director in charge of a TV series."

Pressman, who has directed episodes of Blue Bloods, Law & Order and many other series, was stunned. This class, at New York's New School, focused on film.

But the students weren't dreaming of Oscar, said Pressman, who has also directed several movies, including a Teenage Mutant Ninja Turtles film. "They want to make great TV series."

Game Of Thrones has the epic scale and sweep of a motion picture, while its season launch events have had the feel of swanky movie openings.

Game Of Thrones has the epic scale and sweep of a motion picture, while its season launch events have had the feel of swanky movie openings.

For decades, it was mostly a one-way journey. Television was a stepping-stone for directors, writers, producers and executives who wanted to break into the film business. In the 1950s and 1960s, Hollywood mainstays including Mel Brooks, Garry Marshall and Carl Reiner all got their starts in television but segued to the film world – and are now best known for their big screen work.

The film business proved a seductive force for many years, and for good reason. Movies had the glamour, perks, press coverage and accolades. Nothing could match the glitter of the Academy Awards.

Now, entertainment professionals are migrating eagerly in the opposite direction.

Bada Bing!

Many cite HBO's The Sopranos as opening the door after it burst onto the scene in 1999, or A-list filmmakers like producer Jerry Bruckheimer, who got into the TV business in the late 1990s.

Others look to film producer Mark Gordon (Speed, The Patriot), who transitioned into television with hits Grey's Anatomy and Criminal Minds in the 2000s – or, more recently, Fight Club director David Fincher, who made this year's House Of Cards for Netflix, and Traffic director Steven Soderbergh, who was at the helm for HBO's Behind The Candelabra TV movie and is directing Clive Owen in the forthcoming Cinemax series The Knick.

The movement undoubtedly started with actors making the leap to television, but that it has spread to the executive, director and producer ranks is astounding to many old-school business operators, who never imagined they'd view TV as more attractive.

Neflix's Emmy-nominated House Of Cards was put together by acclaimed filmmaker David Fincher (Se7en, Fight Club).

Neflix's Emmy-nominated House Of Cards was put together by acclaimed filmmaker David Fincher (Se7en, Fight Club).

Several producers and filmmakers said they dreamed of working in film but now find themselves in television – drawn to the money, opportunity, cultural heft or creative control.

"Almost exclusively due to The Sopranos, there's been a resurgence in long-form television," Soderbergh told the Los Angeles Times this year. "The ability to play out a narrative with a very long arc and explore complicated characters and have the audience be happy about that, it's very enticing."

Executives can relate.

"What drove me to drive to Los Angeles was a love of movies. Period," said David Nevins, president of entertainment at Showtime. "But I find myself 20 years into a career and very happy to be making high-end television."

Others, like reality-TV producer Eli Holzman, say the notion that television is a second-class medium – long widely held in Hollywood – has mostly disappeared.

For love of the game

"In film, the perception is that it is the be-all and end-all, but then I got into TV and there were all sorts of executives who loved what they did," said Holzman, who created the hit show Project Runway and executive-produces Undercover Boss, which won an Emmy Award this year for outstanding reality programme. "Fifteen years ago, film people would be surprised to hear that, but now they know it."

To be sure, some professionals are moving to television because of the relative paucity of work in film, as studios make fewer movies and focus more on expensive tentpole pictures that have the potential to become blockbusters.

"You are looking at a static job market for people in the movie business," said United Talent Agency co-founder and board member Peter Benedek, a TV agent whose clients include Sopranos creator David Chase and Lost executive producer Jack Bender. "On the other hand, instead of there being four broadcast networks, there are 100 networks. And the television business has become a business of great creative intensity."

Networks have also taken to hosting lavish, old Hollywood-style debuts for their shows. In the late 1990s and early 2000s, a TV red carpet rollout was an anomaly, saved for season premieres of The Sopranos or Sex And The City. But it has become almost common in recent years.

This year, events for HBO's Game Of Thrones and AMC's Mad Men have had the feel of swanky film openings.

Today in Hollywood, TNT will host a premiere for the new television series Mob City at the TCL Chinese 6 – a popular venue for movie premieres.

Notably, Mob City is from former The Walking Dead show runner Frank Darabont, who before getting into television in earnest wrote and directed such films as The Shawshank Redemption and The Green Mile.

Newfound swagger

At talent agencies, television departments are growing bolder, operating with what one agent said was a newfound "swagger."

For agencies, television "package fees" – derived from putting together actors, writers, directors and producers on a show – are hugely lucrative. If a show is a hit, the agency's windfall could result in more than US$100mil (RM320mil) over time – more than an agency could make from a single motion picture.

For Marc Shmuger, the former Universal Pictures chairman, film long stood apart from television because of "that sacred space that the theatre represented," he said. "It was almost a religious ritual."

But that experience gap has narrowed, Shmuger believes, with the rise of so-called binge watching, wherein people watch many episodes of a programme in a single sitting.

Video-on-demand services such as Netflix Inc, with its Kevin Spacey-starring original series House Of Cards and prison drama Orange Is The New Black, have made the practice easier than ever.

"That to me represents the ultimate entertainment," said Shmuger, now an independent film producer.

Edgy and cutting-edge

Producer John Davis got into film production in the 1980s, when, he says, the business was still cloaked in a mystique and teeming with "glamorous movie stars". He made movies such as Predator and The Firm, working with A-list stars and top-flight directors.

"I love making movies – I just finished my 90th film," said Davis, producer of last year's surprise hit Chronicle and the forthcoming The Man From U.N.C.L.E. remake. "There is a luxury to the process of making films; there is a glamour to it."

But now he's making TV shows. Davis got into the episodic television business this year, executive producing the new series The Blacklist.

The producer said he was intrigued by the "edgy and interesting" things that can now be done on TV. "The writing is so amazing now in television that no one is ever going to look down on it."

"In elite circles, there is probably still some snobbery with TV, but the people who are making money and who are uber-creative are in TV," said Howard Owens, president of National Geographic Channels.

"Yes, Cannes is amazing ... but TV is cool, and I think cool trumps elite." – Los Angeles Times / McClatchy-Tribune Information Services

Darling boy Daniel Radcliffe

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Daniel Radcliffe goes back to school in Kill Your Darlings.

J. PIERREPONT Finch by night, Allen Ginsberg by day.

For much of the time that Daniel Radcliffe was busy in New York City singing and dancing his way through the 2011 Broadway revival of How To Succeed In Business Without Really Trying, he was also working with John Krokidas, a first-time filmmaker, preparing for the role of the celebrated Beat poet: teenage Ginsberg, just accepted to Columbia University, where he gets caught up with the likes of William Burroughs and Jack Kerouac. And caught up in a very real, very troubling murder. Kill Your Darlings is the result of Radcliffe's endeavours.

It's a long way from Harry Potter, but in a way, it isn't: Both the budding wizard Radcliffe played in the eight epic fantasy films and Ginsberg, the budding poet, left home to attend legendary institutions of learning. And both are transformed by their time there. The Potter franchise is just one mega, magic-powered coming-of-age story, and in Kill Your Darlings, the Jewish kid from Paterson, New Jersey in the United States, heads to the big city and discovers who he is – as a writer, and as a man attracted to other men.

"You know, a lot of the parts that I would be offered at this point in my life would be in things like coming-of-age stories," says Radcliffe, who is 24 now, but can easily do younger. "And that's a theme in so many movies."

But the rest of Kill Your Darlings, he adds, is "such a far cry. That's where the comparisons begin and end, because it gets very dark and challenging."

In the film, "Ginsy", as he is dubbed, takes up with Lucien Carr (Dane DeHaan), a rich, reckless campus charmer. Ginsberg is smitten, attaching himself to Carr's coattails, the two of them buzzing around town in the company of the young Burroughs (Ben Foster) and Kerouac (Jack Huston). But Ginsberg is not the only one drawn to Carr: The older and wildly obsessive David Kammerer (Michael C. Hall) can't understand why Carr won't see him any longer. He and Ginsberg become rivals for Carr's attention, and affections, until Kammerer's entreaties assume a menacing, stalker-esque aspect. Something must be done with this bothersome fellow.

And something is.

"This is a true story, which so few people know," Radcliffe says. "It was suppressed for a long time, but when you have an event that was this culturally significant, and significant in the lives of people who went on to become so famous, it seems incredible that nobody has ever told this story before."

(Literary footnote: Carr, who developed the tenets of the New Vision with Burroughs, Ginsberg, and Kerouac, and who would be charged with second-degree murder, was the father of Caleb Carr, the best-selling author of The Alienist.)

Daniel Radcliffe

Moving forward: After spending a decade playing Harry Potter in eight films, Daniel Radcliffe is keen to distance himself from the iconic character by taking on bold projects.

Radcliffe – who pulls off the boyish Ginsberg with physical similitude and serious conviction – wants to make it clear that while events turn grisly in Kill Your Darlings, the film goes to great lengths to document the rollicking adventurousness of the nascent Beats, too.

"I think if you're making a film about the Beats, you can't be too reverential, because they had so much fun, they were just wild, going around New York, having a crazy time. So we wanted to capture some of that energy and vitality and excitement. Hopefully, there's a lightness to the movie, as well as all of the dark stuff."

Kill Your Darlings was one of three films Radcliffe had screening at the Toronto International Film Festival in September. The determinedly busy actor, who was onstage in London earlier this year in a revival of Martin McDonagh's The Cripple Of Inishmaan, had Horns and The F Word at the Canadian fest, too. Both titles are slated for 2014 theatrical release.

"Horns is a crazy movie," Radcliffe reports. "It was mad. I think it's got all the makings of a classic – to a certain group of people, that is. It's not for everyone. As the film begins, my girlfriend has been raped and murdered months before, and the whole town has assumed that I've done it and has vilified me. Everyone hates me. "So I'm living quite an isolated existence. And then one night, I get drunk and end up having a night of inappropriate sex with a friend, and I wake up the next day full of regret – and growing horns.

"And after that I realise that these horns are making people I interact with confess their deepest, darkest secrets to me. And I use that power to then figure out who really killed my girlfriend. So it's a whodunit-cum-absurdist comedy-cum-revenge horror-cum-love story."

Horns, with Juno Temple and Heather Graham, is based on the novel by Joe Hill, Stephen King's son.

The F Word, which puts Radcliffe opposite Zoe Kazan and Jemima Rooper, is, on the other hand, "a very sweet, very honest, very funny look at friendships between men and women and the complexities of relationships."

And not too long from now, Radcliffe will be starting work on a new production of Frankenstein, directed by Paul McGuigan. James McAvoy is Victor Von Frankenstein, Downton Abbey's Jessica Brown Findlay is the leading lady, called Lorelei, and Radcliffe is Igor, the good doctor's hunchbacked assistant.

"It's the most inventive, original script that I've read coming out of the studios since finishing Potter," he says. "I can't wait to get started." – The Philadelphia Inquirer/McClatchy-Tribune Information Services

Related story:

Life after Hogwarts

Kredit: www.thestar.com.my

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Journey to the dark side

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A gangster tale that's both believable and emotional, Kisah Paling Gengster will pleasantly surprise you.

WHEN you've got eight or nine gangster-themed Malaysian movies already released in cinemas in 2013 alone, it's probably not wrong to say that the market for Malaysian gangster films is kind of saturated at the moment. With overkill being a real danger to Kisah Paling Gengster, the latest in the genre to strut into town, what does star Shaheizy Sam – who has himself starred in other gangster flicks like Kongsi and 8 Jam – think makes this one special?

"It has to be the storyline, which I think is great," said Shaheizy, who plays paramedic Remy in the film. "It's a character-driven movie, and I like the fact that the storytelling is more nuanced and not so single-layered."

In the film, Remy starts out as a shy, honest and innocent individual who slowly gets sucked into the violent and dark world of gangsterism because of an act of kindness on his part.

Director Brando Lee said he conceived the role with Shaheizy in mind and developed the character according to Shaheizy's style of acting. Spending approximately four months to write the screenplay with co-writer Alfie Palermo, Lee believed that going back to basics and having a really strong story would make this movie stand out among the crowd, especially with the current gangster film craze and the seemingly endless news items involving gangsters and shootings that have seen the whole country taking an even more intense interest in the issue of gangsterism.

Taking inspiration from Korean films like Old Boy and modern Hollywood classics like Michael Mann's Heat and The Godfather films, Lee said Kisah Paling Gengster initially started life more as an action-comedy, but gradually changed shape into the heavier terrain of the gangster drama as the writing process progressed. There are still sprinklings of comedy here and there to lighten things up – how can you not have those when Epy Raja Lawak has a supporting role as Remy's best friend Jimmy? Still, this is one of the rare examples of a local film that faithfully and successfully follows the form and structure of a classic genre, resulting in an effort that may be familiar in terms of storyline, yet doesn't lack emotional impact.

People often say that power corrupts, and watching Remy's descent from being a sweet-natured innocent into the depths of violence and power, made more convincing by Shaheizy's absolutely committed performance, was quite a pleasant surprise for this writer. In fact, believability is definitely this film's strong suit as the majority of the characters do look authentic, as do the locations.

Supporting players like Wan Hanafi Su as godfather Ayah Megat, Zul Suphian as Ringo, Wawa Zainal as Remy's sweetheart Rina, Mikail Andre as nemesis Romeo and Fyza Kadir as Ayah Megat's daughter Sofea all gave suitably believable performances devoid of fake and exaggerated posing.

Even the shootouts and gun battles, usually a huge bone of contention for this writer when it comes to local films, are quite realistically staged and presented.

Having handled various weapons on his trips overseas, Lee explained that he more or less served as technical advisor as well when it came to the correct way of handling weapons, often showing the actors how to hold and position the weapons in order not to hurt themselves when firing them.

More impressive are the fight scenes, which, as Shaheizy rightly pointed out, are more "raw" and seem less choreographed than most films of this ilk. A particular standout is the scene where Remy "loses it" in a hand-to-hand fight against three gangsters who have been making trouble at a place under Ayah Megat's protection, eloquently showing Remy's first few baby steps on his plunge into darkness instead of explaining it through dialogue.

With film supposedly being a more visual medium, wherein it's more important to show than to tell, it is gratifying to see a local production with more than a few examples of visually eloquent, meaningful moments like this. And all without sacrificing the entertainment factor which is the reason why most people pay to watch a movie.

The Bahasa Malaysia title may hint at another kind of film, but don't let this dissuade you because it is at heart an old-fashioned gangster tale, one which never gets old – that of innocence corrupted.

‘Boob tube’ no more

Posted:

Are the movies losing out to TV's ever-increasing cool factor?

VETERAN TV director Michael Pressman got a surprising response when he asked students in his film directing class to describe their dream jobs.

"Your job," he said they told him recently. "We want to be the director in charge of a TV series."

Pressman, who has directed episodes of Blue Bloods, Law & Order and many other series, was stunned. This class, at New York's New School, focused on film.

But the students weren't dreaming of Oscar, said Pressman, who has also directed several movies, including a Teenage Mutant Ninja Turtles film. "They want to make great TV series."

Game Of Thrones has the epic scale and sweep of a motion picture, while its season launch events have had the feel of swanky movie openings.

Game Of Thrones has the epic scale and sweep of a motion picture, while its season launch events have had the feel of swanky movie openings.

For decades, it was mostly a one-way journey. Television was a stepping-stone for directors, writers, producers and executives who wanted to break into the film business. In the 1950s and 1960s, Hollywood mainstays including Mel Brooks, Garry Marshall and Carl Reiner all got their starts in television but segued to the film world – and are now best known for their big screen work.

The film business proved a seductive force for many years, and for good reason. Movies had the glamour, perks, press coverage and accolades. Nothing could match the glitter of the Academy Awards.

Now, entertainment professionals are migrating eagerly in the opposite direction.

Bada Bing!

Many cite HBO's The Sopranos as opening the door after it burst onto the scene in 1999, or A-list filmmakers like producer Jerry Bruckheimer, who got into the TV business in the late 1990s.

Others look to film producer Mark Gordon (Speed, The Patriot), who transitioned into television with hits Grey's Anatomy and Criminal Minds in the 2000s – or, more recently, Fight Club director David Fincher, who made this year's House Of Cards for Netflix, and Traffic director Steven Soderbergh, who was at the helm for HBO's Behind The Candelabra TV movie and is directing Clive Owen in the forthcoming Cinemax series The Knick.

The movement undoubtedly started with actors making the leap to television, but that it has spread to the executive, director and producer ranks is astounding to many old-school business operators, who never imagined they'd view TV as more attractive.

Neflix's Emmy-nominated House Of Cards was put together by acclaimed filmmaker David Fincher (Se7en, Fight Club).

Neflix's Emmy-nominated House Of Cards was put together by acclaimed filmmaker David Fincher (Se7en, Fight Club).

Several producers and filmmakers said they dreamed of working in film but now find themselves in television – drawn to the money, opportunity, cultural heft or creative control.

"Almost exclusively due to The Sopranos, there's been a resurgence in long-form television," Soderbergh told the Los Angeles Times this year. "The ability to play out a narrative with a very long arc and explore complicated characters and have the audience be happy about that, it's very enticing."

Executives can relate.

"What drove me to drive to Los Angeles was a love of movies. Period," said David Nevins, president of entertainment at Showtime. "But I find myself 20 years into a career and very happy to be making high-end television."

Others, like reality-TV producer Eli Holzman, say the notion that television is a second-class medium – long widely held in Hollywood – has mostly disappeared.

For love of the game

"In film, the perception is that it is the be-all and end-all, but then I got into TV and there were all sorts of executives who loved what they did," said Holzman, who created the hit show Project Runway and executive-produces Undercover Boss, which won an Emmy Award this year for outstanding reality programme. "Fifteen years ago, film people would be surprised to hear that, but now they know it."

To be sure, some professionals are moving to television because of the relative paucity of work in film, as studios make fewer movies and focus more on expensive tentpole pictures that have the potential to become blockbusters.

"You are looking at a static job market for people in the movie business," said United Talent Agency co-founder and board member Peter Benedek, a TV agent whose clients include Sopranos creator David Chase and Lost executive producer Jack Bender. "On the other hand, instead of there being four broadcast networks, there are 100 networks. And the television business has become a business of great creative intensity."

Networks have also taken to hosting lavish, old Hollywood-style debuts for their shows. In the late 1990s and early 2000s, a TV red carpet rollout was an anomaly, saved for season premieres of The Sopranos or Sex And The City. But it has become almost common in recent years.

This year, events for HBO's Game Of Thrones and AMC's Mad Men have had the feel of swanky film openings.

Today in Hollywood, TNT will host a premiere for the new television series Mob City at the TCL Chinese 6 – a popular venue for movie premieres.

Notably, Mob City is from former The Walking Dead show runner Frank Darabont, who before getting into television in earnest wrote and directed such films as The Shawshank Redemption and The Green Mile.

Newfound swagger

At talent agencies, television departments are growing bolder, operating with what one agent said was a newfound "swagger."

For agencies, television "package fees" – derived from putting together actors, writers, directors and producers on a show – are hugely lucrative. If a show is a hit, the agency's windfall could result in more than US$100mil (RM320mil) over time – more than an agency could make from a single motion picture.

For Marc Shmuger, the former Universal Pictures chairman, film long stood apart from television because of "that sacred space that the theatre represented," he said. "It was almost a religious ritual."

But that experience gap has narrowed, Shmuger believes, with the rise of so-called binge watching, wherein people watch many episodes of a programme in a single sitting.

Video-on-demand services such as Netflix Inc, with its Kevin Spacey-starring original series House Of Cards and prison drama Orange Is The New Black, have made the practice easier than ever.

"That to me represents the ultimate entertainment," said Shmuger, now an independent film producer.

Edgy and cutting-edge

Producer John Davis got into film production in the 1980s, when, he says, the business was still cloaked in a mystique and teeming with "glamorous movie stars". He made movies such as Predator and The Firm, working with A-list stars and top-flight directors.

"I love making movies – I just finished my 90th film," said Davis, producer of last year's surprise hit Chronicle and the forthcoming The Man From U.N.C.L.E. remake. "There is a luxury to the process of making films; there is a glamour to it."

But now he's making TV shows. Davis got into the episodic television business this year, executive producing the new series The Blacklist.

The producer said he was intrigued by the "edgy and interesting" things that can now be done on TV. "The writing is so amazing now in television that no one is ever going to look down on it."

"In elite circles, there is probably still some snobbery with TV, but the people who are making money and who are uber-creative are in TV," said Howard Owens, president of National Geographic Channels.

"Yes, Cannes is amazing ... but TV is cool, and I think cool trumps elite." – Los Angeles Times / McClatchy-Tribune Information Services

Darling boy Daniel Radcliffe

Posted:

Daniel Radcliffe goes back to school in Kill Your Darlings.

J. PIERREPONT Finch by night, Allen Ginsberg by day.

For much of the time that Daniel Radcliffe was busy in New York City singing and dancing his way through the 2011 Broadway revival of How To Succeed In Business Without Really Trying, he was also working with John Krokidas, a first-time filmmaker, preparing for the role of the celebrated Beat poet: teenage Ginsberg, just accepted to Columbia University, where he gets caught up with the likes of William Burroughs and Jack Kerouac. And caught up in a very real, very troubling murder. Kill Your Darlings is the result of Radcliffe's endeavours.

It's a long way from Harry Potter, but in a way, it isn't: Both the budding wizard Radcliffe played in the eight epic fantasy films and Ginsberg, the budding poet, left home to attend legendary institutions of learning. And both are transformed by their time there. The Potter franchise is just one mega, magic-powered coming-of-age story, and in Kill Your Darlings, the Jewish kid from Paterson, New Jersey in the United States, heads to the big city and discovers who he is – as a writer, and as a man attracted to other men.

"You know, a lot of the parts that I would be offered at this point in my life would be in things like coming-of-age stories," says Radcliffe, who is 24 now, but can easily do younger. "And that's a theme in so many movies."

But the rest of Kill Your Darlings, he adds, is "such a far cry. That's where the comparisons begin and end, because it gets very dark and challenging."

In the film, "Ginsy", as he is dubbed, takes up with Lucien Carr (Dane DeHaan), a rich, reckless campus charmer. Ginsberg is smitten, attaching himself to Carr's coattails, the two of them buzzing around town in the company of the young Burroughs (Ben Foster) and Kerouac (Jack Huston). But Ginsberg is not the only one drawn to Carr: The older and wildly obsessive David Kammerer (Michael C. Hall) can't understand why Carr won't see him any longer. He and Ginsberg become rivals for Carr's attention, and affections, until Kammerer's entreaties assume a menacing, stalker-esque aspect. Something must be done with this bothersome fellow.

And something is.

"This is a true story, which so few people know," Radcliffe says. "It was suppressed for a long time, but when you have an event that was this culturally significant, and significant in the lives of people who went on to become so famous, it seems incredible that nobody has ever told this story before."

(Literary footnote: Carr, who developed the tenets of the New Vision with Burroughs, Ginsberg, and Kerouac, and who would be charged with second-degree murder, was the father of Caleb Carr, the best-selling author of The Alienist.)

Daniel Radcliffe

Moving forward: After spending a decade playing Harry Potter in eight films, Daniel Radcliffe is keen to distance himself from the iconic character by taking on bold projects.

Radcliffe – who pulls off the boyish Ginsberg with physical similitude and serious conviction – wants to make it clear that while events turn grisly in Kill Your Darlings, the film goes to great lengths to document the rollicking adventurousness of the nascent Beats, too.

"I think if you're making a film about the Beats, you can't be too reverential, because they had so much fun, they were just wild, going around New York, having a crazy time. So we wanted to capture some of that energy and vitality and excitement. Hopefully, there's a lightness to the movie, as well as all of the dark stuff."

Kill Your Darlings was one of three films Radcliffe had screening at the Toronto International Film Festival in September. The determinedly busy actor, who was onstage in London earlier this year in a revival of Martin McDonagh's The Cripple Of Inishmaan, had Horns and The F Word at the Canadian fest, too. Both titles are slated for 2014 theatrical release.

"Horns is a crazy movie," Radcliffe reports. "It was mad. I think it's got all the makings of a classic – to a certain group of people, that is. It's not for everyone. As the film begins, my girlfriend has been raped and murdered months before, and the whole town has assumed that I've done it and has vilified me. Everyone hates me. "So I'm living quite an isolated existence. And then one night, I get drunk and end up having a night of inappropriate sex with a friend, and I wake up the next day full of regret – and growing horns.

"And after that I realise that these horns are making people I interact with confess their deepest, darkest secrets to me. And I use that power to then figure out who really killed my girlfriend. So it's a whodunit-cum-absurdist comedy-cum-revenge horror-cum-love story."

Horns, with Juno Temple and Heather Graham, is based on the novel by Joe Hill, Stephen King's son.

The F Word, which puts Radcliffe opposite Zoe Kazan and Jemima Rooper, is, on the other hand, "a very sweet, very honest, very funny look at friendships between men and women and the complexities of relationships."

And not too long from now, Radcliffe will be starting work on a new production of Frankenstein, directed by Paul McGuigan. James McAvoy is Victor Von Frankenstein, Downton Abbey's Jessica Brown Findlay is the leading lady, called Lorelei, and Radcliffe is Igor, the good doctor's hunchbacked assistant.

"It's the most inventive, original script that I've read coming out of the studios since finishing Potter," he says. "I can't wait to get started." – The Philadelphia Inquirer/McClatchy-Tribune Information Services

Related story:

Life after Hogwarts

Kredit: www.thestar.com.my

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Malayan Banking's Q3 results best ever

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KUALA LUMPUR: Malayan Banking Bhd (Maybank) posted its best quarterly results as net profit surged 16.4% to RM1.74bil in its third quarter ended Sept 30, boosted by higher net fee-based income and a growing Islamic banking business.

South-East Asia's fourth largest bank by asset reported an improved revenue of RM8.39bil against RM8bil last year, while earnings per share stood at 20.05 sen.

"Yet again, with this quarter's good results, we have created a new profit record for the group.

"I am pleased that we are sustaining this growth momentum, by being focused on finding opportunities across our geographic and diverse financial services portfolio through revenue and cost levers amidst the subdued external business climate," chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said in a statement.

Nine-month net profit climbed 12.4% to RM4.82bil, or 56.19 sen a share. Analysts had predicted Maybank's full-year net earnings to be around 72.6 sen a share before the latest quarterly results were released yesterday.

Alliance Research's banking analyst Cheah King Yoong said Maybank's nine-month financial results made up about 77% of his full-year forecast and was well within consensus numbers.

"For now, we do not see a need to revise our earnings forecast significantly," he said.

Shares in Maybank slipped one sen to RM9.55 yesterday in a weak market, as the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) dipped four points to 1,794.65. At its last-traded price, the stock was valued at 13.1 times its projected earnings.

Shares of most Malaysian banks have lagged behind the FBM KLCI's 6.3% rise year-to-date, partly due to worries that earnings growth might slow down amid tighter credit control.

Maybank president and chief executive officer Datuk Abdul Farid Alias said the results demonstrated the group's continued ability to deliver growth in the midst of difficult operating conditions.

"We believe there continue to remain windows of opportunity in the different markets we serve, and we intend to remain agile in tapping into these segments. At the same time, our focus would be on finalising our strategy to take the Maybank group to the next level and beyond 2015," said Farid.

The group said its return on equity improved to 14.9%, on track for its stated target of 15% for the full year.

Group loans rose at an annualised rate of 9.3%, up from 9.1% in the first six months of this year. This was driven by an 8.7% expansion at home and 10% growth at its international operations, led by Indonesia, which grew 19.8%.

The group's net interest income and Islamic banking income rose RM194.3mil or 6.7% on-year largely due to the growth in group net loans and advances, including Islamic finance.

Last month, Maybank launched its Islamic asset management in London offering Islamic Asian-focused investment capabilities to global investors.

Maybank said its non-interest income rose 19.2% to RM248.3mil from a year ago due to a higher net foreign exchange gain of RM830.1mil and a higher fee-based income of RM99.1mil.

"The increase was, however, offset by a higher unrealised loss on revaluation of financial assets," it said in the notes accompanying its financial results.

Maybank said the allowance for impairment losses on loans, advances and financing increased by RM203.7mil to RM280.3mil for the quarter ended Sept 30.

"The increase was mainly due to higher collective allowance made for the quarter. The group's net impaired loans ratio improved to 1.06% as at Sept 30, compared with 1.22% as at Sept 30, 2012," Maybank said.

Overall, its net income increased 9.9% year-on-year, outpacing overheads growth, which was managed at 5.7%. Consequently, the cost-to-income ratio improved further to 46.6% in the third quarter compared with 51.2% in the same period a year ago.

"Fee-income growth was led by a tripling in net income from the insurance business as well as healthy gains in foreign exchange profit (+81.4%), investment and trading portfolios (+20.6%) and commissions, service charges and fees (+9.8%)," Maybank said.

The bank added that the growth in fund-based income came mainly from global markets (+21.8%), corporate banking (+17.9%) and community financial services (+9.6%).

Sony says to make fewer films as it shifts to television

Posted:

LOS ANGELES:  Sony Pictures Entertainment will produce fewer films as it makes a "significant" shift from motion pictures to higher-margin television production and to operating TV channels, Sony Corp executives told investors gathered at the company's Culver City, California, studio lot.

The declaration came as Sony battles to win investor support after a letter from hedge fund investor Daniel Loeb in May called on Sony to spin off to investors a portion of its entertainment business and take steps to improve the studio's profitability.

The studio has identified $250 million in overhead and procurement cost cuts that it expects to make in the next two or three years, said Sony Entertainment CEO Michael Lynton.

The studio is also working with a "third party" - identified in prior media reports as Bain & Co - to identify further cuts, he said.

Lynton forecast that the company's pictures business, which includes its film and television operations, will have revenues of $8.4 billion in fiscal year 2015, and an operating margin of 7.4 percent. In its music business, the company expects revenue of $4.8 billion with a 9.5 percent operating income margin.

Sony studio chief Amy Pascal said the studio will cut the numbers of films it makes, and next year will release fewer than 20 films, down from the 23 it released in prior years. It will release four films in the summer, compared to nine this summer, she said.

Sony had a mixed year at the box office, with hits like "Grown Ups 2" and "Cloudy with a Chance of Meatballs 2," but also flops like "White House Down," which was made for $150 million but generated just $205 million in worldwide ticket sales that it shares with theater owners, according to the site Box Office Mojo.

The company had an operating loss of $181 million in its fiscal second quarter that ended Sept. 30 for its pictures unit, which includes film and TV production, the company said on Oct. 31. It cited "White House Down" as one reason for the loss.

Traders reacted cautiously to Thursday's presentation, boosting its stock by 0.6 percent to $18.64 a share in afternoon trading on the New York Stock Exchange. It traded as high as $18.79 earlier on Thursday.

"My takeaway so far is that Sony Entertainment has tremendous unrecognized depth from TV production of hits like 'Breaking Bad' and leadership in the growth of networks in India," Daniel Ernst, principal at Hudson Square Research, said in an email.

"But that depth only reinforces my view that those businesses would get better recognition and unlock more value if they listed a stake of the business separately," said Ernst, who rates Sony shares as a hold.

The company, which promised greater transparency to Loeb, reported more detailed numbers for its entertainment businesses than it had done in the past.

Loeb's Third Point owns about 7 percent of Sony Corp. - Reuters

New Zealand central banker's comments boost 'overvalued' NZ dollar

Posted:

WELLINGTON: When Reserve Bank of New Zealand Assistant Governor John McDermott said on Friday the New Zealand dollar was overvalued and he would like to see it weaken, it did exactly the opposite and rose to a session high.

Speaking in Wellington, McDermott conceded the RBNZ was not inclined to actively weaken the currency as it prepares to raise interest rates next year, which markets took as little more than the central bank's usual jawboning against currency strength and drove it higher.

McDermott's comments appeared to acknowledge that the RBNZ was unwilling to enter the $4 trillion-a-day currency market to weaken the "kiwi" at the moment, given its limited resources to take on overseas players controlling roughly 90 percent of trade who have been buying the currency for its relatively higher yield.

The kiwi popped up to a session high of $0.8245 after the speech, as the absence of any signal that the RBNZ would try to weaken the currency spurred some buying.

McDermott said the New Zealand dollar was at historically high levels due the country's current high terms of trade, particularly booming dairy prices, and relatively strong economic performance.

"The Reserve Bank believes that, from a long-term perspective, the exchange rate is overvalued," he said.

"The high exchange rate is contributing to economic imbalances and the Reserve Bank would like to see it lower in order to promote more sustainable economic growth."

But he added that evidence in New Zealand and other countries suggested that foreign currency intervention was unlikely to have a sustained impact on lowering the exchange rate.

Expectations that the RBNZ will raise rates from a record low 2.5 percent early next year has boosted the kiwi, which hovers in range of a post-float high hit against a currency basket earlier this year after gaining nearly 5 percent so far this year.

Ongoing strength in the kiwi has been a headache for RBNZ Governor Graeme Wheeler, who said last week that he was concerned that a looming rise in interest rates would put upward pressure on the New Zealand dollar.

The RBNZ's tone on the currency's strength has been tempered compared with a speech by Reserve Bank of Australia Governor Glenn Stevens, who on Thursday said he was "open-minded" on whether to intervene to weaken the high Australian dollar, stepping up his rhetoric after long complaining of the currency's strength.

"Overall, in this episode so far, the bank has not been convinced that large-scale intervention clearly passed the test of effectiveness versus cost. But that doesn't mean we will always eschew intervention," Stevens told the Australian Business Economists' annual dinner.

ANZ currency strategist Sam Tuck said the RBA was taking a stronger position against the "Aussie" as it approaches the end of its monetary easing cycle -- which has done little to depreciate the currency -- while the RBNZ is widely expected to enter a monetary tightening cycle next year.

"The RBA can afford to be a bit more activist against the currency because there's no danger in the short term of their actions boosting the currency," Tuck said.

"The RBNZ has to be a little bit more pragmatic because they have to justify why strength in the currency isn't going to impede them from achieving their primary goal, which is to ensure price stability and make sure house price and construction inflation doesn't spill into the broader economy."

The RBNZ has said it expects to begin raising interest rates, which have been at a record low 2.5 percent since April 2011, sometime in 2014 to counter growing inflation pressures from a stronger economy.

Analysts polled by Reuters overwhelmingly expect the tightening cycle to start in March next year, with markets pricing in nearly 100 basis points tightening in a year's time .- Reuters

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