Jumaat, 10 Januari 2014

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Singapore cops solve rare kidnap case within hours

Posted: 10 Jan 2014 08:00 AM PST

SINGAPORE: Two men who allegedly abducted the 79-year-old mother of a supermarket tycoon for ransom have been arrested and charged.

Lee Sze Yong, 41, is accused of abducting Ng Lye Poh on Wednesday between 10.30am and 1.02pm along Hougang Avenue 2, with intent to hold her for ransom. His accomplice, Heng Chen Boon, 50, is said to have helped him confine the victim in a vehicle between 8.30pm and midnight.

The court granted the prosecution's request for the two Singaporeans to be remanded in police custody for further investigations. The case against them will be heard again on Jan 17.

The men face the death penalty or life in jail if convicted for the offence. Lee, who is the younger of the two, may also be caned.

Ng was released unhurt shortly after her son, Lim Hock Chee – who founded the Sheng Siong supermarket chain in 1985 – paid a S$2mil (RM5.2mil) ransom just before midnight on Wednesday.

She was kidnapped earlier that day after a trip to a nearby market and taken by car, while blindfolded and bound, to an unknown place.

The suspects were arrested by the police at about 1am, an hour or so after Lim had dropped off the ransom under a tree in Sembawang Park.

The S$2mil ransom – which was negotiated down from $20mil (RM52mil) – was recovered at the park after the arrest.

The older suspect was said to be a credit card promoter and the younger man, an odd-job worker.

There have only been three other cases of kidnapping for ransom reported in Singapore over the last 13 years, all of which were solved by the police.

Prime Minister Lee Hsien Loong commended the police for the swift arrest.

"Great job by the Singapore Police Force," said Lee in a Facebook post. "Glad Madam Ng is safe and sound. Also glad that her son ... alerted the police as soon as it happened, so that the police could rescue Madam Ng and solve the case."

Meanwhile, Ng is resting at home and will not be attending a scheduled doctor's appointment.

Her son told reporters camped outside his Jalan Arif home earlier that Ng is still resting – a day after she was released by the two kidnappers – and will miss her medical review at Khoo Teck Puat Hospital.

Lim said he would not be letting his mother venture beyond the house after she was abducted on Wednesday morning while she was on her way home from a nearby market.

The half a dozen reporters and photographers were waiting to catch a glimpse of Ng or interview her since news of her kidnapping broke on Thursday.

On a related matter, withdrawing large amounts of cash from a bank in Singapore is not at all difficult, say people in the banking industry.

However, they noted that it is rare for a customer to withdraw millions of dollars at short notice. Clients usually notify the bank a few days or even weeks in advance to get the cash ready.

This question of how easy it is to withdraw a large amount of cash from the bank arose after Lim paid the S$2mil ransom.

The Straits Times understands that a request to take out S$2mil can be done in a few hours, as long as the customer has the funds in his bank account.

He or she would have to produce his identification card to the teller for verification purposes.

Upon confirmation that he is the rightful account holder and that there is sufficient bank balance, the teller will check internally if there is enough cash at hand to dispense the money.

If the bank branch does not have sufficient cash at hand or bills in the denomination specified by the customer, the teller will advise the customer of two options.

He may go to another branch that has the cash amount or quantity of notes asked for. Or he can wait in the banking hall while the bank arranges for the cash to be delivered from elsewhere.

Bankers say it is unusual for a customer to walk into a bank to withdraw a large amount in cash. Customers who have large amount of money deposited with a bank are usually high net-worth clients.

They will be assigned relationship managers or private bankers to service their needs, including processing requests for big cash withdrawals and having the money ready for delivery when the clients turn up at the bank. — The Straits Times / Asia News Network

Two kidnap suspects are lovers

Posted: 10 Jan 2014 08:00 AM PST

THE two men allegedly behind Wednesday's kidnapping for ransom are lovers who have been living together for more than 10 years.

This was revealed by a woman who identified herself as the mother of 41-year-old Lee Sze Yong, the younger of the two suspects who were charged in court yesterday with the abduction of Ng Lye Poh, 79.

Lee's mother, who wanted to be known only as Madam Seow, said her son and 50-year-old Heng Chen Boon – the other suspect – share the Hougang flat with her.

She told reporters, who were outside her flat, that Lee was her only son.

"My son is in trouble, of course I'm very sad," she said.

According to business records, Lee and Heng started a cleaning company called Plus Concept in 1999. But the company was terminated in 2001.

A neighbour, who wanted to be known only as Chu, said she recalled seeing the two men move cleaning equipment such as brooms and mops into a white car some years ago.

Meanwhile, Lim Hock Chee, chief executive of supermarket chain Sheng Siong, and his family come from humble beginnings.

The former farm boy and Jurong Vocation Institute graduate-turned-supermarket tycoon once recalled about his childhood: "Every day after school, I had to clean the pigsties and prepare the pigs' feed."

He was thrown into the media spotlight again after his mother's abduction.

The first Sheng Siong outlet was founded by Mr Lim and his two brothers as a mini-supermarket in Ang Mo Kio back in 1985. Today, the chain has 33 supermarkets.

Lim's brothers, Hock Eng and Hock Leng, continue to serve on Sheng Siong's board, as executive chairman and managing director respectively. — The Straits Times / Asia News Network

Singapore monitoring new forms of illicit financing

Posted: 10 Jan 2014 08:00 AM PST

SINGAPORE: Asian financial hub Singapore is scrutinising trade in virtual currencies such as Bitcoin as well as precious stones and metals to forestall new forms of illicit financing by criminals and terrorists.

In an inaugural report on money laundering and terrorist financing risks, the city-state said these sectors were identified for further study "as technology evolves and criminals become more sophisticated".

"Authorities will seek to better understand how money laundering and terrorist financing can be carried out through these channels," said the joint report by the finance and home affairs ministries as well as the Monetary Authority of Singapore (MAS).

It said the government would "review international best practices, to determine whether any safeguards and mitigating measures are needed".

The report said virtual money and precious metal-backed currencies carry the risk of being abused due to their anonymity, cross-border nature and low transaction costs.

The MAS, which serves as the city-state's central bank "is closely monitoring developments in this area and will consider the need for regulation if necessary", the report said.

Bitcoin, the world's most popular form of electronic money, made headlines last year when US authorities closed the Silk Road website when it was found the currency was being used to buy illegal drugs, forged documents, hacker tools and even the services of hitmen.

The report also said Singapore was monitoring the trade in precious stones and metals.

"There are international typologies on the use of precious stones and metals as a tool to launder money, particularly as a store-of-value to move illicit proceeds easily," it added.

The bank said of 22 sectors that were assessed, the city's vast financial sector remained among the most vulnerable to abuse owing to the large number of transactions that take place and its wide international reach.

Singapore houses the regional offices of some of the world's top financial institutions and its total assets under management are now around S$1.4 trillion (RM3.6 trillion), according to the MAS.

The report said "relevant controls are in place" for financial institutions, including supervision by MAS, record keeping, transaction monitoring and rigorous customer due diligence measures.

It identified remittance agents, money-changers, Internet-based stored value facility holders, pawnbrokers as well as corporate service providers as sectors where "controls are relatively less robust".

"Relevant government agencies will be strengthening the legislative and supervisory framework through the year to address the risks in these sectors more effectively," it said.

"The possibility that terrorist elements may seek to direct funds from abroad to support terrorism activities in Singapore or use Singapore as a conduit for foreign (terrorist financing) cannot be discounted," the report said.

Singapore in 2001 said it crippled a cell of the South-East Asia-based militant network Jemaah Islamiyah with the arrest of suspects linked to an alleged plot to bomb local and foreign targets including Changi Airport.

Officials say the island republic is a prime target for extremist groups because of its close ties with the United States and major role in global finance and business. — AFP

Kredit: www.thestar.com.my

The Star Online: Entertainment: TV & Radio

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The Star Online: Entertainment: TV & Radio


TV's dome of doom

Posted: 08 Jan 2014 08:00 AM PST

Gripping science fiction drama, Under The Dome, is set to trap viewers' attention.

WE'RE all guilty of it. Growing up as children, there's nothing like spotting a trail of ants and inflicting all kinds of torment on them to pass time.

We send powerful gusts of wind (which usually ends up leaving us out of breath), suffocate them in piles of dirt and let's not forget another crucial method of torture: flipping an empty glass jar over them.

Oh, how we wish we hadn't.

In Under The Dome – a 13-episode science fiction drama based on Stephen King's 2009 novel of the same name – a transparent, impenetrable dome mysteriously descends upon the residents of Chester's Mill, Maine, in the United States (much like that empty glass jar), cutting them off from loved ones, from food and water supplies, from all mediums of communication, and ultimately, the rest of the world.

Like those poor six-legged creatures, the townspeople are left afraid and confused. Where did the dome come from? Who is behind it? And most importantly, what are their intentions?

Actor Mike Vogel – who prefers to see the dome as a fishbowl – believes the show, at its core, is simply a way to examine human behaviour.

"You put a bunch of fish in a fishbowl and they start banging on the glass – and you see how they react," said the hunky 34-year-old star.

"You will have a fish that runs away, you will have a fish that starts fighting another fish and eats that fish. And then you will have other fishes that protect the fishes that are about to get eaten."

Vogel, along with co-stars Dean Norris and Alexander Koch, were fielding questions from international journalists at a press conference for the US hit series at Los Angeles, California.

"The dome is just a device. It's a device to see what happens when you put people in a pressure cooker situation," he added.

The dome makes Junior (Alexander Koch) do crazy things like locking his girlfriend Angie (Britt Robertson) in his backyard bomb shelter after suspecting she had an affair.

The dome makes Junior (Alexander Koch) do crazy things like locking his girlfriend Angie (Britt Robertson) in his backyard bomb shelter after suspecting she had an affair.

Norris took Vogel's views further, suggesting the glossy surface of the dome is perhaps a good way to reflect on what might happen should civilisation fall.

"We are all very civilised, and yet, if something bad should happen, we'd all freak out and wonder where we'd get our food and water and all the niceties. I think there's something primal about that that attracts us to watch how this little town deals with that," said Norris.

The 53-year-old former Breaking Bad star also admitted that the idea of living inside a dome in real life would terrify him. "I'm not a big fan of closed spaces ... It takes me a couple of Bloody Marys to get on a plane, if you know what I'm saying," Norris said cheekily.

Meanwhile, Koch, 25, noted that setting the story in a small, bucolic town like Chester's Mill adds drama to the show: "Small towns have a lot of secrets. It's like this cookie cutter society and we want everything to be like Pleasantville.

"Everyone's really good and nothing goes wrong here. It's the cities that are filled with violence and murder. But, once the dome comes down, all the secrets come out."

"Small town, big hell," a journalist offered. Koch chuckled and agreed.

A townful of secrets

Speaking of secrets, Koch's character James "Junior" Rennie is hiding, literally, one of the biggest secrets in the town.

In the pilot that aired yesterday, viewers learned that the genial, well-mannered Junior – the son of town politician James "Big Jim" Rennie (portrayed by Norris) – locked up his love interest Angie McAlister (Britt Robertson) in his backyard bomb shelter after suspecting she had an affair.

"I never think of Junior as dysfunctional. He has a good heart, he just has the wrong way of going about things," Koch said, adding that Junior's evil ways developed after losing his mother at a young age and could not find comfort in his stern father.

"Junior's always going to be a character who is teetering on the side of good and bad."

Koch's portrayal as the town psychopath is not just convincing, it is spine-chilling at times. Yet, Under The Dome is only the actor's first major role on television.

Ex-Special Forces member Barbie (Mike Vogel) literally buries his secret - a dead body - in a forest in Chester's Mill.

Ex-Special Forces member Barbie (Vogel) literally buries his secret – a dead body – in a forest in Chester's Mill.

As a newcomer – having graduated from theatre school just six months before landing the role – Koch shared he had to audition six times for the part.

"One guy came up to me, looked me up and down and asked, 'When are you letting that girl out of the basement?" the rising star shared on his first taste of fame, leaving the roomful of journalists in stitches.

While this is Koch's first big project, Norris on the other hand has been acting since the late 1980s.

The veteran actor played mostly minor roles in movies like Lethal Weapon 2, Terminator 2: Judgment Day and Starship Troopers plus guest spots on TV series like NYPD Blue, The X-Files and ER. He shot to fame in his breakthrough role on Breaking Bad as DEA (Drug Enforcement Administration) agent Hank Schrader.

Norris explained his decision to sign on to Under The Dome: "I picked it because it was completely different than Breaking Bad … That was a small, naturalistic, intense show. This is a large, epic science fiction that allows me to stretch different acting muscles."

In the show, his character, power-hungry Big Jim, rises up and becomes the town's leader, restoring order from chaos, seeming to save the world. But his murky dealings with some of the townspeople are raising suspicions.

The actor remarked on his penchant for playing characters that are tough and rough around the edges: "I actually like playing unlikeable characters and trying somehow to find a way to make them likeable. It's a challenge and I enjoy it. For instance, Big Jim has done some bad things, but I'd still vote for him if I had to."

Dale "Barbie" Barbara, played by Vogel, is no model citizen either. Cold and steely at first glance coupled with his questionable actions, the ex-Special Forces member has landed in hot soup many times.

"You've got to crack a few eggs to make an omelette," Vogel said of his character's nature. "And, if it takes a few people to get hurt along the way to protect the bigger picture, then that's what he'll do."

The model-turned-actor may look familiar to some, thanks to his roles in The Texas Chainsaw Massacre, Cloverfield, She's Out Of My League and most recently in the hit TV series Bates Motel.

And Barbie, too, has something to hide. This time – a dead body. In the show's opening scene, he is seen burying a body at a forest in Chester's Mill. But just as the outsider is set to leave, the dome descends.

'Dome' wasn't built in a day

It takes two of the most well-known Stephens in the world to bring Under The Dome to life on the small screen – Stephen King and Stephen Spielberg.

The novel's author, King, has done more than just kept an eye on the TV project.

"A lot of people think he kind of just sold the rights to a project and then moved on to something else. He has been very much involved with this from start to finish, often coming down to the set," Vogel said. King will be writing the first episode of the second season himself.

What King does so well in words, Spielberg does the same in visuals. Vogel lauds the executive producer: "Steven Spielberg brings to the show an incredible effects team. The special effects you see on the show used to be only reserved for film. And, now you see it every week in a TV show and the rate that they had to cut this stuff together is mind-boggling."

Much of the special effects work, of course, is in making the dome look as real as possible.

Koch revealed the dome isn't quite so invincible in reality: "There is an episode where I punched the dome underneath and cut up my hands because I was actually punching Plexiglas."

And unlike in the TV show, one can hear through the glass. "We can hear through it, fortunately. Otherwise, we'd need earpieces or have Jack Bender (executive producer / director) yell at us," he joked.

In writing the novel, King originally envisioned the dome as an allegory for the planet and the many man-made ecological issues that plague it. Nature-loving Vogel, who enjoys spending time in the woods, said the show also promotes the idea of conservation in a way that doesn't come off as "preachy".

With that said, let's start by trying not to trap ants in glass jars anymore, shall we?

Under The Dome airs every Wednesday at 9.55pm on RTL CBS Entertainment (HyppTV Ch 616).

Related story

On-screen survivors

Zoe Saldana to star in 'Rosemary's Baby'

Posted: 08 Jan 2014 09:25 PM PST

The Avatar actress is set to play the main character in a new TV miniseries.

Zoe Saldana has been cast to star in NBC's upcoming miniseries Rosemary's Baby, the network said Wednesday. Saldana will play the role of Rosemary in the four-hour miniseries.

In the NBC version of the story, would-be mother Rosemary and her husband move into a Paris apartment with a darkly storied past. After Rosemary becomes pregnant, she begins to suspect that her husband and neighbours have ulterior motives about the future of her child. The miniseries is being adapted from Ira Levin's 1967 novel, the basis for the 1968 movie starring Mia Farrow as the mother-to-be. That movie was directed by Roman Polanski.

Film and TV director Agnieszka Holland (Treme, Europa, Europa) is handling directing duties for the miniseries, which Scott Abbott (Winchell) and James Wong (American Horror Story) are writing. Production will begin shortly in Paris.

"Zoe has proven that she is one of our most gifted actresses and we think she has the perfect combination of spirit and gravitas to take on the title role from Ira Levin's infamous novel," NBC Entertainment executive vice president, movies, miniseries and international co-productions Quinn Taylor said.

"With Zoe leading the cast under the direction of Agnieszka Holland, this reimagined event miniseries is off to a great start." Saldana starred in Avatar and the J.J. Abrams-Star Trek remake. She recently appeared in the Christian Bale drama Out Of The Furnace. — Reuters

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The Star Online: World Updates

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Seven injured in Thai protest shooting, military chief fears escalating violence

Posted: 10 Jan 2014 10:00 PM PST

BANGKOK (Reuters) - Seven people were wounded, one seriously, after gunmen opened fire on anti-government protesters in Bangkok early on Saturday, heightening fears of more violence when protesters try to "shutdown" the capital next week in their long-running bid to overthrow Prime Minister Yingluck Shinawatra.

"Two shootouts occurred in the early hours of this morning at an intersection near the Khao San Road tourist area. Altogether seven people were injured, most of them anti-government protesters. We are still investigating who the gunmen were," said national police chief Adul Saengsingkaew.

One of the injured protesters remains in a critical condition, according to the Erawan Medical Center which monitors Bangkok hospitals.

The incident follows clashes between government supporters and protesters on Friday outside Bangkok that left at least six people injured.

At a celebration to mark national Children's Day on Saturday Thailand's army chief, Prayuth Chan-ocha, said he feared an escalation in violence next week.

"I am concerned about security because there will be many people. The violence is increasing...," said Prayuth.

"We can think differently but we cannot kill each other. Please don't use violence."

The turmoil is the latest episode in an eight-year conflict that pits Bangkok's middle class and royalist establishment against the mostly poorer, rural supporters of Yingluck and her brother, former premier Thaksin Shinawatra, who was overthrown in a military coup in 2006.

The protesters accuse the Shinawatra family of corruption and nepotism. Yingluck called a snap election for February 2, but this failed to placate protesters, who want her government to resign to make way for an unelected people's council to oversee political reform.

COUP FEARS MOUNT

Many Thais believe the military will soon step in to break the political deadlock, especially if the protests turn violent, and rumours of an impending coup have intensified.

The army has staged or attempted 18 coups in 81 years, but it has tried to remain neutral this time.

The authorities say they will deploy more than 14,000 troops and police on Monday, including police at the main airport, to maintain order in the streets.

Protesters led by former opposition politician Suthep Thaugsuban aim to paralyse Bangkok starting Monday for between 15 and 20 days. They plan to block seven main intersections, causing gridlock in a city clogged with traffic at the best of times, and say they could block other areas as part of their prolonged siege of the city.

Paralysing Bangkok is the latest bid in a two-month attempt by protesters to topple Yingluck.

Eight people, including two officers, have been killed and scores injured in violence between protesters, police and government supporters in recent weeks.

The government has repeatedly played down talk of a military intervention but officials said on Friday it had a plan to counter a coup if there was one.

"I don't think any coup will happen... this Monday the army and the police will take care of the (security) situation," Foreign Minister Surapong Tovichakchaikul told foreign media on Friday.

U.N. Secretary-General Ban Ki-moon at a news conference in New York on Friday urged all sides to show restraint as Thailand's latest round of protests gathered pace.

"I am very concerned that the situation could escalate in the days ahead, particularly next Monday... when protesters said they will shut down Bangkok," Ban said.

"I urge all involved to show restraint, avoid provocative acts and settle their differences peacefully, through dialogue."

(Reporting by Amy Sawitta Lefevre; Editing by Michael Perry)

Coup-prone Thailand looks to army chief to break deadlock

Posted: 10 Jan 2014 07:00 PM PST

BANGKOK (Reuters) - Standing inside one of Bangkok's many military bases is a giant poster of Thai army chief Prayuth Chan-ocha in full dress uniform, along with a list of attributes. "Intelligent," reads the poster. "Knowledgeable. Modern. Visionary."

As Bangkok braces for a "shut down" by anti-government protesters on Monday, and rumours multiply that yet another military coup is imminent, another adjective for General Prayuth springs to mind: opaque.

Paralysing Bangkok is the latest bid in a two-month attempt by protesters to topple Prime Minister Yingluck Shinawatra, whose brother, Thaksin, was overthrown in the last military coup in 2006.

Yingluck called a snap election for February 2, but this failed to mollify protesters, who want her government to resign in favour of an unelected people's council to oversee political reform.

Many Thais believe the military will soon step in again to break the political deadlock, especially if next week's citywide protests turn violent.

But Prayuth, 59, has remained noncommittal, brushing aside rumours of a military coup while deftly side-stepping an outright denial.

It wasn't always so. Famous for irascible exchanges with the media, Prayuth once suggested coups were obsolete and slammed rumour-mongers for damaging the country.

As Thailand's latest round of protests gathered pace, however, his public statements have fuelled rather than scotched the rumours.

"I cannot confirm whether there will or will not be a coup," he said on January 7.

Two weeks earlier, Prayuth likened the unrest between pro- and anti-government protesters to an intersection where he had the power to "turn the lights red" to stop traffic from left and right colliding.

"The odds of an all-out military coup remain lower for now but will increase as instability drags on," said Christian Lewis, a Southeast Asia specialist at political risk consultants Eurasia Group. "Prayuth and the military will most likely intervene only if the police lose control of an eroding security situation."

"NOT CONSTRUCTIVE"

Thousands of protesters have taken to Bangkok's streets since November, accusing the Shinawatra family of corruption and nepotism.

The protests, which have drawn 200,000 people at their peak, have been mostly peaceful.

Four people, including two police officers, died of gunshot wounds and scores were injured after protesters clashed with police outside a stadium on December 26 while candidates registered for the election.

In broad terms, the current crisis pits the Thai elite, including military generals and royalists, and the educated middle-classes against supporters of twice-elected former prime minister Thaksin, who now lives in self-imposed exile to avoid jail for a graft conviction he says was politically motivated.

But with Yingluck clinging onto power and protesters refusing to back down, analysts say protest leader Suthep Thaugsuban, a former deputy prime minister, can only win with Prayuth's backing.

That has sparked fears that protagonists might instigate an attack on protesters during next week's rallies in hopes of provoking army intervention.

But senior officers told Reuters the military is reluctant to see a repeat of the September 2006 coup, which Prayuth helped execute as a deputy regional commander and plunged the country into years of turmoil.

"Prayuth is aware that dealing with the problem by staging a coup is not constructive and, after a while, the same problems will come back again," said army spokesman Colonel Werachon Sukhondhadhpatipak.

Born in northeast Thailand, now a stronghold for Thaksin supporters, Prayuth has a reputation for "hard-headed decisiveness", wrote Anthony Davis, a Thailand-based analyst at security consulting firm IHS-Jane's, after Prayuth was appointed in October 2010.

"An officer of polished social skills, he has become a regular visitor to the palace, suggesting that in royal circles he is seen as a vital figure to ensure the future stability of both the nation and the monarchy," said Davis.

Prayuth also established a cordial relationship with Yingluck after her election the following year. He has repeatedly said he wants the military to remain politically neutral.

Yet Prayuth, who is a few months shy of mandatory retirement, commands a highly politicised army. It has played a pivotal role in a country that has seen 18 successful or attempted coups in the past 81 years.

"Prayuth was involved in a coup once before and knows that after a coup come many obstacles," said Boonyakiat Karavekphan, a political analyst at Ramkamhaeng University in Bangkok.

"He has shown no political ambitions but even if he did, staging a coup today is much more difficult than in 2006. Thailand is a different country and he risks upsetting the politically awakened masses," he said, referring to Thaksin's supporters who would be outraged if his sister's government was overthrown.

"WATERMELON SOLDIERS"

Prayuth faces another dilemma from some rank-and-file soldiers in green uniforms dubbed "watermelons" - green on the outside with red, pro-Thaksin, sympathies on the inside.

Fissures within the army were evident during a bloody April and May 2010 crackdown on pro-Thaksin red shirts in Bangkok who were demanding fresh elections and the resignation of pro-establishment Prime Minister Abhisit Vejjajiva.

Some soldiers openly sympathised with red-shirted protesters, tipping off the group's leaders ahead of a planned army operation, unnerving the top brass and sapping troop morale. Ensuing clashes between soldiers and anti-government protesters killed 91 people. More than 2,000 were wounded.

"Last time the objective was to protect the Abhisit government which many soldiers disliked. But this time any decision by the generals will be made carefully and to protect national interests and all sides," said army spokesman Werachon.

"Of course, there are some 'watermelon' soldiers but they know that, as an army, we have to present a united front."

Compounding the situation is the complex web of loyalties within the army establishment.

Prayuth belongs to a powerful clique that includes retired former defence minister General Prawit Wongsuwan and former army chief General Anupong Paochinda, who both despise Thaksin.

A December 13 Reuters report revealed both men secretly back protest leader Suthep and his ambitions to eradicate Thaksin's influence from Thailand. Prayuth is pulled between his loyalty to Anupong and Prawit, and his desire to restore the army's image after the 2010 clashes.

When Thailand was hit by its worst floods in decades in 2011 he went on a media blitz to promote the army by sending soldiers to help civilians.

(This version of the story corrects Prayuth's 2006 rank to deputy regional commander in paragraph 18.)

(Editing by Andrew R.C. Marshall and Robert Birsel)

Spain's Sacyr sees progress in talks with Panama Canal

Posted: 10 Jan 2014 05:20 PM PST

MEXICO CITY (Reuters) - Sacyr, the Spanish building company leading a consortium to expand the Panama Canal, said on Friday it was making progress in talks with the waterway's operator over financing to avoid a damaging work stoppage on the multi-billion dollar project.

Visiting Panama, Sacyr Chairman Manuel Manrique played down an acrimonious spat over cost overruns, in which the group demanded more money from the canal administrator to continue work on a third set of locks for the canal.

"We are advancing day by day, and I am optimistic and hope we will soon have a happy ending," Manrique told Reuters in an interview in the Panamanian capital.

Manrique said the consortium, which includes Italian builder Salini Impregilo, would process its claim for $1.6 billion in cost overruns via arbitration.

Earlier this month, the consortium threatened to halt work from January 20 unless the Panama Canal Authority footed the bill.

"We are going to continue with the project and we are going to follow what the contract says," Manrique said. "The trouble is that arbitration takes longer than the project. There is a lack of cashflow which we have to solve."

The Sacyr chief said he hoped work would not stop, and expected to return to Panama in the middle of next week for further talks.

The canal authority and consortium have both floated financing proposals. But it was not immediately clear how they would ensure cashflow in the short term to keep afloat the plan to expand one of the world's most important cargo routes.

The Panama Canal Authority said this week it was ready to bring in a third party to finish the expansion if no deal was reached with the consortium on financing.

Halting construction on the project would be a setback for companies eager to move larger vessels through the century-old waterway such as liquefied natural gas (LNG) producers who want to ship exports from the U.S. Gulf coast to Asian markets.

LONGSTANDING WORRIES

The Panama Canal on Wednesday rejected a consortium proposal that it pay $1 billion to continue work on expanding the waterway. Under a separate plan, the consortium has proposed that the canal authority pay out a $400 million cash advance.

The canal has suggested it and the consortium each provide $100 million to keep work going, and said it would also delay repayment of a previously disbursed $83 million advance.

Work began on the expansion in 2007 to create a new lane of traffic along the canal and double its capacity. The overall project is 72 percent complete.

Last week, the consortium, which also features Belgium's Jan De Nul and Panama's Constructora Urbana, said it had faced the added costs due to unforeseen setbacks in the $3.2 billion section of the project to build the new locks.

The group said flawed geological studies carried out by the authority had caused the cost overruns.

U.S. diplomatic cables published by Wikileaks showed the government of Panama President Ricardo Martinelli was worried about progress before six months had passed.

Sacyr won the canal contract in 2009 with an offer considerably below the main rival bids and also below the $3.48 billion reference set by the canal authority.

Kredit: www.thestar.com.my

The Star eCentral: Movie Buzz

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YSL brought to life on screen

Posted: 08 Jan 2014 07:00 PM PST

Fashion legend Yves Saint Laurent is brought to life in a biopic released this week.

Feted as a visionary but tormented genius who reshaped the silhouette of 20th century women, Yves Saint Laurent comes back to life this week in the first biopic of the man known as the "prince of fashion".

The film by French actor-turned-director Jalil Lespert focuses on 20 years of the designer's life between 1956 and 1976 that saw him burst onto the fashion scene – first at Dior then at the head of his own house – and ascend to fame and fortune.

It is also a love story – that of Saint Laurent and his partner Pierre Berge, whose up-and-down relationship reveals the "dark, sombre face" of a man who at times plunged into depression, drugs and alcohol, and was unfaithful.

Saint Laurent, who died in 2008 aged 71, dominated the international couture scene from the swinging 1960s, revolutionising women's wardrobes with a new androgynous style that mirrored women's push for a stronger social role.

He is also widely credited as the first to employ black models, and British supermodel Naomi Campbell in 2008 paid tribute to a man she said promoted women of colour on the runway.

Lespert, 37, told AFP he wanted to "tell a love story and at the same time a story about people who fight for their dreams".

He pointed to "the historic and national importance" of the designer "through his creations, men's clothes – trousers, tuxedos, reefer jackets – which he democratised for women at a time when French society was changing".

For Lespert, the designer embodied "absolute timidity, extreme elegance."

Saint Laurent is played by 24-year-old actor Pierre Niney, a rising star who joined the prestigious Comedie Francaise theatre when he was just 21. Tall, slim, and wearing Saint Laurent's trademark black-rimmed glasses, Niney morphs into the 1.85m designer in the film.

In order to play the fashion legend, he first read up about Saint Laurent to get his head round a person he knew very little about. Four-and-a-half months later, he was taught fashion design and drawing. Niney also underwent coaching to imitate Saint Laurent's soft, halting voice.

"I worked with a woman who drew for Saint Laurent for 15 years. I also learnt to recognise the ... coded vocabulary of workshops," he said.

Berge is played by Guillaume Gallienne, a French actor who is also part of the Comedie Francaise.

Lespert said he wanted two actors who had received classical theatre training to better encapsulate the language used at the time, and Saint Laurent's specific way of speaking. Berge okayed the film, unlike another biopic on Saint Laurent due to come out in May.

Saint Laurent was born in 1936 in Algeria, when the North African country was still French territory. A shy lonely child born to a well-off family, he was taunted over his homosexuality and became fascinated by clothes.

He arrived in Paris in 1953, aged 17, with a portfolio of sketches and the following year won three of the four categories in a Paris design competition – the fourth went to his rival Karl Lagerfeld, now at Chanel.

Saint Laurent started out at Christian Dior and then struck out on his own, with Berge taking care of the business side. He went from strength to strength, mixing along the way with famous people, and his name and the YSL logo became synonymous with all the latest trends.

But in his later years, the depression that haunted him all his life became more oppressive, and at his farewell bash in 2002 Saint Laurent admitted to having recourse to "those false friends which are tranquilisers and narcotics". — AFP Relaxnews

Still of 'Yves Saint Laurent' starring Pierre Niney

Johnny Depp gets co-stars for 'Mortdecai'

Posted: 09 Jan 2014 07:05 PM PST

Joining him in the movie are Aubrey Plaza, Oliver Platt and more.

Aubrey Plaza, Oliver Platt and Jeff Goldblum have joined the cast of Mortdecai, the action comedy starring Johnny Depp. Based on Kyril Bonfiglioli's series of novels, the film has already wrapped production in London and is now moving to Los Angeles.

Depp stars as an art dealer and rogue in search of a stolen painting that holds the code to a lost bank account filled with Nazi gold. Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany also star in the film, which Lionsgate will distribute. It marks the first project under OddLot Entertainment's new co-production and co-financing deal with Lionsgate.

The film has added a troika of busy actors to an already strong cast. Plaza, a star of NBC's Parks & Recreation, continues to build her film resume after roles in comedies such as Scott Pilgrim Vs The World and Safety Not Guaranteed. She starred as a misfit teenage girl in last summer's The To Do List and plays the title character in the upcoming Life After Beth.

Platt, a regular supporting player in movies, TV and theatre, will appear in five movies opening this year, including Jon Favreau's Chef and Michael Cuesta's Kill The Messenger while Goldblum just finished a run in the play Domesticated. — Reuters

John Goodman in 'The Gambler'

Posted: 09 Jan 2014 07:15 PM PST

The actor joins Mark Wahlberg and Brie Larson in the upcoming movie.

Fresh off a spirited turn in Inside Llewyn Davis, John Goodman has joined the cast of The Gambler, Paramount's upcoming remake of the 1974 drama, TheWrap has learned. Paramount had no comment.

Mark Wahlberg plays the title character in the film, which is being directed by Rupert Wyatt (Rise Of The Planet Of The Apes). Karel Reisz directed the original film, which starred James Caan as a a literature professor whose gambling addiction lands him in hot water with his girlfriend, his mother and some unsavoury gangsters.

Brie Larson, Jessica Lange, Michael K. Williams and Travis Tope will co-star in the remake, in which Goodman will play a Jewish loan shark, to whom Wahlberg finds himself indebted. Screenwriter James Toback based the original film on his own life, though Oscar winner William Monahan (The Departed) penned this new version of the crime drama, which follows a similar trajectory. Irwin Winkler, a producer on the first film, will produce this one as well.

Goodman is an iconic actor who has worked tirelessly for three decades. In addition to Llewyn Davis, he played the heavy in The Hangover Part III this year. Goodman also had an uncredited cameo in The Internship and reprised his beloved role of Sully in Pixar's hit sequel Monsters University.

Additionally, Goodman starred in Amazon's first original comedy series Alpha House, and he'll soon be seen alongside George Clooney and Matt Damon in The Monuments Men, which Sony opens in February. Paramount plans to release The Gambler in 2015. — Reuters

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YSL brought to life on screen

Posted: 08 Jan 2014 07:00 PM PST

Fashion legend Yves Saint Laurent is brought to life in a biopic released this week.

Feted as a visionary but tormented genius who reshaped the silhouette of 20th century women, Yves Saint Laurent comes back to life this week in the first biopic of the man known as the "prince of fashion".

The film by French actor-turned-director Jalil Lespert focuses on 20 years of the designer's life between 1956 and 1976 that saw him burst onto the fashion scene – first at Dior then at the head of his own house – and ascend to fame and fortune.

It is also a love story – that of Saint Laurent and his partner Pierre Berge, whose up-and-down relationship reveals the "dark, sombre face" of a man who at times plunged into depression, drugs and alcohol, and was unfaithful.

Saint Laurent, who died in 2008 aged 71, dominated the international couture scene from the swinging 1960s, revolutionising women's wardrobes with a new androgynous style that mirrored women's push for a stronger social role.

He is also widely credited as the first to employ black models, and British supermodel Naomi Campbell in 2008 paid tribute to a man she said promoted women of colour on the runway.

Lespert, 37, told AFP he wanted to "tell a love story and at the same time a story about people who fight for their dreams".

He pointed to "the historic and national importance" of the designer "through his creations, men's clothes – trousers, tuxedos, reefer jackets – which he democratised for women at a time when French society was changing".

For Lespert, the designer embodied "absolute timidity, extreme elegance."

Saint Laurent is played by 24-year-old actor Pierre Niney, a rising star who joined the prestigious Comedie Francaise theatre when he was just 21. Tall, slim, and wearing Saint Laurent's trademark black-rimmed glasses, Niney morphs into the 1.85m designer in the film.

In order to play the fashion legend, he first read up about Saint Laurent to get his head round a person he knew very little about. Four-and-a-half months later, he was taught fashion design and drawing. Niney also underwent coaching to imitate Saint Laurent's soft, halting voice.

"I worked with a woman who drew for Saint Laurent for 15 years. I also learnt to recognise the ... coded vocabulary of workshops," he said.

Berge is played by Guillaume Gallienne, a French actor who is also part of the Comedie Francaise.

Lespert said he wanted two actors who had received classical theatre training to better encapsulate the language used at the time, and Saint Laurent's specific way of speaking. Berge okayed the film, unlike another biopic on Saint Laurent due to come out in May.

Saint Laurent was born in 1936 in Algeria, when the North African country was still French territory. A shy lonely child born to a well-off family, he was taunted over his homosexuality and became fascinated by clothes.

He arrived in Paris in 1953, aged 17, with a portfolio of sketches and the following year won three of the four categories in a Paris design competition – the fourth went to his rival Karl Lagerfeld, now at Chanel.

Saint Laurent started out at Christian Dior and then struck out on his own, with Berge taking care of the business side. He went from strength to strength, mixing along the way with famous people, and his name and the YSL logo became synonymous with all the latest trends.

But in his later years, the depression that haunted him all his life became more oppressive, and at his farewell bash in 2002 Saint Laurent admitted to having recourse to "those false friends which are tranquilisers and narcotics". — AFP Relaxnews

Still of 'Yves Saint Laurent' starring Pierre Niney

Johnny Depp gets co-stars for 'Mortdecai'

Posted: 09 Jan 2014 07:05 PM PST

Joining him in the movie are Aubrey Plaza, Oliver Platt and more.

Aubrey Plaza, Oliver Platt and Jeff Goldblum have joined the cast of Mortdecai, the action comedy starring Johnny Depp. Based on Kyril Bonfiglioli's series of novels, the film has already wrapped production in London and is now moving to Los Angeles.

Depp stars as an art dealer and rogue in search of a stolen painting that holds the code to a lost bank account filled with Nazi gold. Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany also star in the film, which Lionsgate will distribute. It marks the first project under OddLot Entertainment's new co-production and co-financing deal with Lionsgate.

The film has added a troika of busy actors to an already strong cast. Plaza, a star of NBC's Parks & Recreation, continues to build her film resume after roles in comedies such as Scott Pilgrim Vs The World and Safety Not Guaranteed. She starred as a misfit teenage girl in last summer's The To Do List and plays the title character in the upcoming Life After Beth.

Platt, a regular supporting player in movies, TV and theatre, will appear in five movies opening this year, including Jon Favreau's Chef and Michael Cuesta's Kill The Messenger while Goldblum just finished a run in the play Domesticated. — Reuters

John Goodman in 'The Gambler'

Posted: 09 Jan 2014 07:15 PM PST

The actor joins Mark Wahlberg and Brie Larson in the upcoming movie.

Fresh off a spirited turn in Inside Llewyn Davis, John Goodman has joined the cast of The Gambler, Paramount's upcoming remake of the 1974 drama, TheWrap has learned. Paramount had no comment.

Mark Wahlberg plays the title character in the film, which is being directed by Rupert Wyatt (Rise Of The Planet Of The Apes). Karel Reisz directed the original film, which starred James Caan as a a literature professor whose gambling addiction lands him in hot water with his girlfriend, his mother and some unsavoury gangsters.

Brie Larson, Jessica Lange, Michael K. Williams and Travis Tope will co-star in the remake, in which Goodman will play a Jewish loan shark, to whom Wahlberg finds himself indebted. Screenwriter James Toback based the original film on his own life, though Oscar winner William Monahan (The Departed) penned this new version of the crime drama, which follows a similar trajectory. Irwin Winkler, a producer on the first film, will produce this one as well.

Goodman is an iconic actor who has worked tirelessly for three decades. In addition to Llewyn Davis, he played the heavy in The Hangover Part III this year. Goodman also had an uncredited cameo in The Internship and reprised his beloved role of Sully in Pixar's hit sequel Monsters University.

Additionally, Goodman starred in Amazon's first original comedy series Alpha House, and he'll soon be seen alongside George Clooney and Matt Damon in The Monuments Men, which Sony opens in February. Paramount plans to release The Gambler in 2015. — Reuters

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Property circles will soon know the name Lee Yeow Seng

Posted: 10 Jan 2014 08:00 AM PST

LEE Yeow Seng, a name that the property scene will soon know very well, has recently shot into the limelight following his appointment as chief executive officer of IOI Properties Group Bhd.

Unlike his older brother Datuk Lee Yeow Chor, newly appointed chief executive officer of IOI Corp Bhd who is already a familiar face in the plantation scene, Yeow Seng, who was roped into IOI Corp Bhd back in 2008, has been kept behind the scenes up until news broke of IOI Properties' relisting.

Fresh faced and just 35 years of age, all eyes are now on Yeow Seng and how he will propel IOI Properties to greater heights. With the listing ceremony only a couple of days away, analysts anticipate the stock's re-entrance to the Main Market of Bursa Malaysia to do well.

Yeow Seng has quite a tall order to meet. With a landbank of 10,000 acres to work with, he has set an ambitious sales target of RM2.5bil to RM3bil in less than two years' time, a target that is seen as too aggressive by some.

"His appointment by his father signals Yeow Seng's readiness to do the job. He has been shown the ropes on how the group's businesses are run since joining IOI Corp in 2008," an industry observer says.

Not only do Yeow Chor and Yeow Seng's appointments mark the conclusion of the demerger exercise, which sees the separation of IOI Properties from IOI Corp, it is also part of IOI Group founder Tan Sri Lee Shin Cheng's succession plan.

Summary of estimated GDV over the next three years.

While Shin Cheng has now taken a backseat, it is definitely not a sign that he will be retiring soon.

"I am still very healthy, strong and handsome. I can work for at least another 10 years. IOI Corp and IOI Properties were both founded by me. I want to see them grow bigger and become even more successful companies," he jokingly told the media at a recent briefing.

Although the decision-making process is now in the hands of his two sons, Shin Cheng says he will continue to monitor and assist them closely. As executive chairman of both companies, he will still be hands-on in assisting Yeow Chor and Yeow Seng in bettering the two companies.

But Yeow Seng's appointment comes at a time when the property market is not at its peak. In fact, a lot of unrest and uncertainty have arisen among from the cooling measures introduced by the Government during Budget 2014.

Measures such as the hike in real property gains tax and the abolishment of the developers interest-bearing scheme have dampened sentiments from both developers and property investors alike.

Analysts are already expecting a setback for sales momentum to occur this year. This will only prove a challenge for Yeow Seng to meet his targeted sales of RM2.5bil to RM3bil by the financial year ending June 30, 2015.

IOI Properties' landbank chart.

"If he can get through this subdued year, it will be proof that he is more than capable in helming the property business," says an analyst.

The demerger deal

The demerger exercise sees a clear segregation in the group's plantation and property businesses, with Yeow Chor helming the first and Yeow Seng the latter. After the demerger, IOI Corp will become a pure integrated palm oil player.

The exercise allows both companies to fully focus on the respective businesses.

"With this demerger, IOI Corp will become one of the purest integrated plantation plays listed on Bursa Malaysia and could regain its throne as 'the' premium big-cap plantation player," says RHB Research analyst Hoe Lee Leng.

Many research houses have adjusted their target prices for IOI Corp downwards to reflect the demerger.

Yeow Chor intends to maintain IOI Corp's previous dividend per share, indicating that the company will have to increase its dividend payout, as earnings will be reduced due to the removal of property contribution, which accounts for 30% to 35% of its earnings previously.

He adds that the company will be more aggressive in sourcing for more plantation land locally as well as overseas in countries such as Indonesia.

"Re-rating catalysts to look out for include further acquisition of significant tracts of brownfield or greenfield hectarage and CPO (crude palm oil) prices trend up higher than expected due to supply related issues like unfavourable weather," says Alliance Research's Arhnue Tan.

IOI Properties will be listed by way of distribution-in-specie and a restricted offer for sale (ROS) involving 3.24 billion shares to shareholders of IOI Corp.

The exercise entails the distribution-in-specie of one IOI Properties share for every three IOI Corp shares, and an ROS of one IOI Properties share for every six IOI Corp shares.

An in-specie distribution is the distribution of an asset in its present form, rather than selling it and distributing the cash.

Each IOI Properties share is priced at RM1.76 under the ROS, representing a 30% discount to the reference price of RM2.51.

Property play

IOI Properties was once listed on the Main Market of Bursa Malaysia, but subsequently privatised in 2009 to pursue various landbank acquisitions. Analysts say the stock was also fairly illiquid back then.

But during those four years, the company did not stay silent. Instead it aggressively expanded locally, as well as to the overseas markets, namely in Singapore and China.

IOI Properties made its first mark in Xiamen, China, a sub-provincial city of Fujian province, not too far away from Shin Cheng's ancestral home in Yongchun, Quanzhou in Fujian province.

IOI Park Bay in Xiamen, a mixed development comprising a shopping mall, boutique offices, a five-star luxury hotel and luxury high-rise residences, is set to be complete in 2018.

RHB Research analyst Leong Kok Wen says its overseas projects give IOI Properties the flexibility to be responsive to changes in market conditions.

"The debut of the Xiamen project was successful, with all 480 units launched in September 2013 taken up. Earnings from China are expected to kick in from financial year ending June 30, 2014 onwards.

Upon listing, IOI Properties is set to have a market capitalisation of at least RM8.31bil, making it second to UEM Sunrise Bhd by market value.

Although shareholding of the major shareholders post listing has yet to be confirmed, analysts anticipate that Shin Cheng's shareholding in IOI Properties to likely be around 45%.

Some say that IOI Properties would provide investors with an alternative to S P Setia Bhd.

Others argue that it would depend if valuations are cheap enough to be able to choose one over the other.

IOI Properties' ongoing and future developments for the next three years have a gross development value (GDV) of RM10bil in Malaysia, S$3bil in Singapore and five billion yuan in China.

Renoir worth US$100,000 bought for US$7 at flea market ordered returned

Posted: 10 Jan 2014 03:23 PM PST

ALEXANDRIA, Virginia: A napkin-size Renoir painting bought for $7 at a flea market but valued at up to $100,000 must be returned to the museum it was stolen from in 1951, a federal judge ordered on Friday.

The 1879 Impressionist painting "Paysage Bords de Seine," dashed off for his mistress by Pierre-Auguste Renoir at a riverside restaurant, has been at the center of a legal tug-of-war between Marcia "Martha" Fuqua, a former physical education teacher from LovettsvilleVirginia, and the Baltimore Museum of Art in Maryland.

Judge Leonie Brinkema, in a hearing in the U.S. District Court for the Eastern District of Virginia, dismissed Fuqua's claim of ownership, noting that a property title cannot be transferred if it resulted from a theft.

"The museum has put forth an extensive amount of documentary evidence that the painting was stolen," Brinkema said, citing a 1951 police report and museum records.

"All the evidence is on the Baltimore museum's side. You still have no evidence - no evidence - that this wasn't stolen," said Brinkema to Fuqua's attorney before ruling in favor of the museum.

Fuqua bought the unsigned "Paysage Bords de Seine," or "Landscape on the Banks of the Seine," at aHarpers FerryWest Virginia, flea market in late 2009 because she liked the frame, she said in a court filing. She paid $7 for the painting, along with a box of trinkets.

Although the frame carried the nameplate "Renoir 1841-1919," Fuqua was unaware the 5-1/2-by-9-inch oil painting was genuine and stored it in a garbage bag for 2-1/2 years, she said.

A REAL RENOIR

Her mother, an art teacher and painter, urged her in July 2012 to get the painting appraised. Fuqua took it to the Potomack Co, an Alexandria, Virginia, auction house, which verified it was as an authentic Renoir.

After media reports about the painting, the Baltimore Museum of Art said in September 2012 it had been stolen while on loan to it. The Federal Bureau of Investigation then took custody of it.

What happened to the painting in the time after the theft in November 1951 and the time it surfaced at a flea market is not known.

Fuqua had contended that "Paysage Bords de Seine" should be returned to her since she was unaware of it having been stolen or of it being genuine.

The Potomack Co had estimated the painting's value at $75,000 to $100,000, but an appraisal done for the FBI said it was worth about $22,000.

The painting is soiled and "there is a distinct lack of enthusiasm for paintings by Renoir now considered a more old-fashioned taste," appraiser Ted Cooper said, quoting an art market report.

Renoir painted the work for his mistress on a linen napkin, while at a restaurant near the Seine River, Cooper said, quoting museum curatorial notes.

Questions about its ownership also have diminished the painting's value, said the appraisal, which is part of court filings.

"Paysage Bords de Seine" came to the Baltimore museum through one of its leading benefactors, collector Saidie May. Her family bought the painting from the Bernheim-Jeune gallery in Paris in 1926 and May lent it, along with other works, to the museum in 1937.

May died in May 1951 and the collection was willed to the museum. As its ownership was going through legal transfer, the painting was stolen while still listed as being on loan.- Reuters

For US stocks, earnings take center stage

Posted: 10 Jan 2014 03:19 PM PST

NEW YORK: After the S&P 500's impressive 30 percent return in 2013, Wall Street will get a better picture of reality next week as the pace of companies reporting earnings picks up.

A number of big banks are due to report their quarterly and full-year results next week, including JPMorgan Chase & Co <JPM.N> and Wells Fargo & Co <WFC.N> on Tuesday, Bank of America Corp <BAC.N> on Wednesday, Goldman Sachs Group Inc <GS.N> and Citigroup Inc <C.N> on Thursday, and Morgan Stanley <MS.N> on Friday.

Their results will help determine whether earnings forecasts for 2014 need to come down and whether stock values have become overblown.

"There isn't much left to happen to this market, in terms of the view of an expanding economy. It is generally agreed by everyone that the economy is improving. What isn't clear is whether earnings are improving at the same pace the market is. That's the next big test for equities," said Rick Meckler, president of LibertyView Capital Management in Jersey CityNew Jersey.

Investors may get a better sense of how quickly the central bank will reduce its market-friendly bond purchases from a number of Federal Reserve officials due to speak next week. A much weaker-than-expected December payrolls report on Friday raised new questions about both the strength of the economy and the aggressiveness of Fed stimulus.

Federal Reserve Bank of Atlanta President Dennis Lockhart is scheduled to speak at events on Monday and Wednesday, while Fed Chairman Ben Bernanke is set to speak on Thursday.

The Fed's Beige Book is due on Wednesday.

A batch of December data will be released next week, with retail sales on Tuesday, the U.S. Producer Price Index on Wednesday, the U.S. Consumer Price Index on Thursday and housing starts on Friday. Another number to note on Friday will be the preliminary January reading on U.S. consumer sentiment from the Thomson Reuters/University of Michigan Surveys of Consumers.

HEALTHY EARNINGS OUTLOOK

For the whole S&P 500, fourth-quarter profit growth is expected to have increased 7.7 percent from a year ago, while revenue is expected to have risen just 0.4 percent, Thomson Reuters data showed. The benchmark S&P 500 rose 9.9 percent in the fourth quarter of last year, while it jumped 29.6 percent for 2013, its best year since 1997.

Among other earnings to watch next week, General Electric Co <GE.N> ix expected to report a spike in fourth-quarter profit on Friday with the help of the record $229 billion backlog of orders for jet engines, oil pumps and healthcare equipment.

American Express Co's <AXP.N> fourth-quarter results on Thursday are expected to beat estimates, helped by increased card spending and lower default rates among customers.

KEEPING RETAIL OPTIONS OPEN

Retail stocks have been attracting increased options activity this week as major retailers came out with their disappointing holiday sales figures.

Investors will get more insight into the consumers' state of mind next week as about 150 consumer-related companies are due to participate in the annual ICR XChange conference from Monday through Wednesday.

The annual gathering comes after many large U.S. retailers slashed their earnings forecasts recently because of steep discounts they offered during the holidays to persuade reluctant consumers to buy.

"I wouldn't judge the health of the economy off of brick-and-mortar retailers," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.

"The economy was strengthening into the end of the fourth quarter," and there was sufficient growth to keep earnings growing and people buying the market.

Options volume on Five Below <FIVE.O> jumped more than six times the norm on Friday. The value retailer's stock fell 7.2 percent to close at $40.46 a day after the company announced disappointing holiday sales. Five Below is expected to present at the ICR XChange conference on Monday.

Out of the total 6,975 options contracts traded on Friday in Five Below, 2,565 were calls and 4,410 were puts with the most activity seen in January $45 calls. Goldman Sachs had recommended buying January $45 calls for a relief rally in the stock following the ICR update.

Domino's Pizza <DPZ.N> options volume also rose with a total of 861 contracts traded, compared with average daily volume of 520 contracts. The stock has moved about 8.5 percent up or down during the past nine conferences, moving in the positive direction during seven of the nine events, according to Goldman Sachs. The company's presentation at the ICR XChange conference is set for Wednesday.- Reuters

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