The Star Online: Nation
The Star Online: Nation |
- PM lobbied Canada over Petronas takeover deal
- Help unite Indians, philanthropist urges politicians
- Here’s your RM7,500 bouquet, now can I marry you?
| PM lobbied Canada over Petronas takeover deal Posted: 13 Feb 2013 02:58 PM PST OTTAWA: Canadian Prime Minister Stephen Harper has reversed an initial rejection of Petronas' C$5.2bil (RM16bil) takeover of Progress Energy Resources Corp following an intervention by Datuk Seri Najib Tun Razak. Correspondence between the two leaders showed that Malaysia promised that Petronas would invest C$68bil to C$70bil (RM209.4bil to RM215.6bil) over 30 years to develop the natural gas reserves of Calgary-based Progress, according to a Nov 2 letter obtained by Bloomberg News. The Malaysian Prime Minister expressed concern about the rejection and reassured Harper that the Government "does not interfere with the commercial decisions and operations" of Petronas. The diplomatic intervention showed the need for financial commitments and political hurdles facing foreign companies looking to acquire energy assets in Canada, home to the world's third largest oil reserves and the third-largest supply of natural gas. Canada initially blocked the Petronas offer on Oct 19, saying it didn't provide the "net benefit" to the country that its foreign-takeover law requires. Harper reversed the decision on Dec 7, at the same time he approved Beijing-based Cnooc Ltd's US$15bil (RM45bil) acquisition of Nexen Inc. Najib dispatched Minister in the Prime Minister's Department Datuk Seri Idris Jala for a Nov 7 meeting with Canadian Finance Minister Jim Flaherty and Foreign Affairs Minister John Baird, according to a memo to Harper stamped "secret" from his top public servant Wayne Wouters. Petronas closed its acquisition of Progress on Dec 18. Cnooc, China's biggest oil and gas producer, yesterday won approval to acquire Nexen's US assets, the last regulatory hurdle in the purchase. Malaysia helped make the case that Petronas operates in a similar way to publicly traded companies, said Michael Culbert, chief executive officer of Progress Energy Canada Ltd. "What Petronas really put forward was that not all SOEs (state-owned enterprise) really are exactly the same," Culbert said yesterday. "Their plans for Progress Energy are to have Progress have Canadian management and a fair amount of autonomy." In approving the Petronas and Cnooc deals, Harper said that under new rules for acquisitions by SOEs, his government would only approve further acquisitions under "exceptional circumstances". Canada will consider "free-enterprise principles" and "industry efficiency" in reviewing such deals, Harper said in a letter to Najib written after the Petronas offer was approved, documents showed. In his letter to Harper, Najib said Petronas' investment in Canada would create 3,000 "direct and indirect" jobs. Less than a week before Canada approved the deal, the companies said they would make a final decision in 2014 on a proposed liquefied natural gas facility near the coastal community of Prince Rupert, British Columbia. The facility would cost C$9bil to C$11bil (RM27.3bil to RM33.9bil), create as many as 3,500 construction jobs and employ 200 to 300 people to operate the terminal. - Bloomberg
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| Help unite Indians, philanthropist urges politicians Posted: 13 Feb 2013 02:58 PM PST UNITY among Indians in Malaysia is currently at its lowest ebb due to infighting among them, reported Makkal Osai. Quoting philanthropist and social worker Ratnavalli Ammaiyar, the paper said that while many influential Indians held positions in political parties, they were not bothered about the problems faced by the community. Calling on these leaders to come together to combat the social problems among Indians, she said: "They should unite under one umbrella and find ways to solve problems plaguing the community. Most problems can be solved if there is unity among us." Ratnavalli advised parents to be exemplary role models to their children by practising Indian traditions and customs at home and encouraging the young to attend religious classes. > A loan shark at a Madurai village in Tamil Nadu held a young girl captive after her parents failed to service the loan over the past four months for a Rs20,000 (RM1,148) credit they took from the moneylender. The couple, who have three sons, lodged a police report against the moneylender, a woman known to them as Karuthammal, after she abducted their daughter, Tamil Nesan reported. S. Sinnalan, 55, and his wife, V. Palaniammal, 50, claimed they had taken a loan from the woman 10 years ago to finance the wedding of their eldest son and had since paid back Rs1,000 (RM57). They recently went to the home of Palaniammal's sister in Neelakottai to attend a family function. To their surprise, the moneylender was there, too. Upon seeing the couple's daughter, Karuthammal snatched the girl and fled. ● Other News & Views is compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with this ' >'sign, it denotes a separate news item.
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| Here’s your RM7,500 bouquet, now can I marry you? Posted: 13 Feb 2013 02:57 PM PST A GIANT rose bouquet made with 600 pieces of RM10 notes was specially made at the request of a man who wanted to propose to his girlfriend. Nanyang Siang Pau and China Press reported that the bouquet had 100 stalks of "roses" and was about half the height of an adult. Each "rose" was made with six pieces of RM10 note. The bouquet was completed in two weeks. Florist Aw Min Chin said the hardest part was to make the base of each stalk, which took up to 15 minutes. China Press reported that the bouquet was worth RM7,500, which included the notes. When the bouquet was completed and displayed at the shop, Aw said many passers-by, including couples and tourists, posed for photographs with it. Aw said she requested RM1 donation from each person who wished to take a photograph. "The money will be handed over to the would-be owner to be donated," she added. > China Press reported that a youth from Singapore lamented about the measly amount of money he received as ang pow, while another asked his girlfriend to share her ang pow money with him. The paper said a 14-year-old teenager took a photo of his S$700 (RM1,680) ang pow and posted it on his Instagram news feed, commenting: "That's all". In another case, one guy took to Facebook to ask his girlfriend to split half of her ang pow with him on Facebook, as she received more than he did. Both incidents have been widely circulated within the local youth portals and social media websites, with many Netizens calling their actions "distasteful and shameless". > Kwong Wah Yit Poh reported that a large number of single women in Shenzhen, China, chose not to return home for Chinese New Year to avoid questions over their plans for marriage and children. It was reported that many office workers preferred to spend the holidays in the city, away from their families, instead. Advertising firm executive Xiao Xiao said she had had enough of being asked awkward questions each time she returned home. "I can handle my concerned parents but not the overly concerned aunts," said the 29-year-old, adding that Chinese New Year holidays were a chance for family members to reconnect. "Raising private or sensitive questions simply ruins the atmosphere." ● Other News & Views is compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with this ' >'sign, it denotes a separate news item.
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