Alaphilippe reclaims yellow and Pinot impresses in French tour de force

first_img“I was ready for his attack since last night and all day I was waiting for it because I had great legs,” said Pinot.”It was a fantastic finale, it was beautiful to go together like this and we showed that we can work together even if we’re in different teams,” said Alaphilippe, whose move was highly expected as bonus seconds were up for grabs in the ascent to the Cote de la Jaillere and at the finish.Alaphilippe now leads Italian Giulio Ciccone, who started the day in yellow with a six-second advantage, by 23 seconds and Pinot by 53 seconds.Deceuninck Quick Step’s Alaphilippe gained a total of nine bonus seconds and Pinot (Groupama-FDJ) picked up eight at the top of the final ascent and on the finish line.Thomas is fifth, 1:12 off the pace with his Ineos team mate Egan Bernal a further four seconds adrift.Vincenzo Nibali, the 2014 champion, dropped out of contention when he cracked on the Cote de la Jaillere and reached the line 4:25 off the pace.Thomas was frustrated that Alaphilippe’s move came shortly after he had made his way back into the peloton.”I’m fine but it was just frustrating,” he said. “It was a key moment in the race. (Michael) Woods crashed and took out Gianni (Moscon) and me and I just got tangled in Gianni’s bike.”By the time I got up to the group I was gassed for a bit and obviously that’s when they started to sprint away. It’s annoying and frustrating but to come back like I did is good.”If I hadn’t crashed I could have followed (Pinot and Alaphilippe) and it’s a totally different story then. Still a lot of racing to go though.” (Reporting by Julien Pretot; Editing by Toby Davis and Clare Fallon) ST ETIENNE, France (Reuters) – Julian Alaphilippe reclaimed the Tour de France’s yellow jersey and Thibaut Pinot underlined his title credentials as the French pair highly impressed in a spectacular eighth-stage finale on Saturday.Belgian Thomas De Gendt won the 200-km hilly stage from Macon from a breakaway, ahead of Pinot, the only rider able to follow Alaphilippe’s brutal attack on the last climb with about 13 kilometres left.The French duo went at full tilt on the descent into St Etienne and held off a trimmed-down peloton at the finish.They crossed the line six seconds behind De Gendt but 20 seconds ahead of the bunch featuring defending champion Geraint Thomas, who suffered a scare 15 kilometres from the finish when he took a minor tumble. Cycling 09 Jul 2019 Cycling: Viviani completes set of grand tour stage wins Related News Cycling 08 Jul 2019 Cycling – Alaphilippe takes Tour stage three and yellow jerseycenter_img Cycling 11 Jul 2019 Cycling: Thursday’s Tour stage favours Bernal, says Thomas Related News {{category}} {{time}} {{title}}last_img read more

Legal suit pending sukuk revamp

first_img Business News 06 Jul 2019 Highways are best left with the govt Business News 29 Jun 2019 What will happen to PLUS? Corporate News , sukuk Related News > The corporate governance issue which was not highlighted to it by the previous adviser and lead arranger.> Verification of expenses to be independently verified by a third-party quantity surveyor as well as other relevant consultants.“We would like to point out that MEX is performing very well and even RAM in its latest rating rationale acknowledges the fact that despite subjecting the projected cashflows to severe assumptions, MEX is on target to meet all its debt obligations,” said the spokesperson. The spokesperson added that the issue is to address the potential DSCR which in turn would impact rating levels.“We are also addressing the weakness in the previous term sheet which our current advisers are currently reviewing,” said the spokesperson.Bright Focus has appointed NewParadigm Capital Markets Sdn Bhd as the financial adviser for the restructuring of the sukuk. “Should the restructuring exercise be successfully implemented, Bright Focus’ sukuk would be able to regain its investment-grade status,” said the source. The initial legal action by sukuk holders had caused RAM Ratings to downgrade Bright Focus’ sukuk six notches down from A1 to BB1 on June 3. Sources said the sukuk holders include Lembaga Tabung Haji, Malayan Banking Bhd , Standard Chartered, Nomura Asset Management, Amundi, Retirement Fund Inc, KAF and RHB.The legal action came about because unanticipated advances were made by Bright Focus’ 96.8% subsidiary, MESB, to its ultimate parent company, Maju Holdings.The first advance of RM73mil was in June 2018. Additional advances of up to RM24.82mil were paid to the group’s ultimate shareholder between September and November 2018.“It was a collective decision by the sukuk holders to demand money back from Maju Holdings for wrongful acts and breach of the covenants of the bonds. “If every issuer does this, who will want to buy bonds?” said one of the sukuk holders.On May 24, a letter of demand was sent to MESB, requiring the company to return all prohibited advances to date and reinstate its cash position within the next 30 days.Bright Focus had on May 30 issued a reply letter, stating the amount of advances and that it was taking steps to repay them.This sukuk dispute came before Abu Sahid’s bid to buy over PLUS (M) Bhd, the operator of the North-South Expressway earlier this year, with a promise to reduce toll rates by running the highway more efficiently.Yesterday, the Finance Ministry made a preliminary decision to oppose the takeover of PLUS by Maju Holdings after considering the views from PLUS’ major shareholders Khazanah Nasional Bhd and the Employees Provident Fund.RAM Ratings has not only downgraded the sukuk to BB1, but put it on a rating watch, with a negative outlook.One of the sukuk holders opined that RAM Ratings move was drastic.“The second rating action that led to a six-notch downgrade, despite it being a performing bond, is unheard of and alarming,” said another sukuk holder. This is because at the current rating of BB1, the RM1.35bil sukuk issued by Bright Focus is no longer under the investment-grade category (the lowest investment-grade category is BBB).This is the second downgrade made by RAM Ratings. It had first downgraded Bright Focus from AA2 to A1 following the first advance of RM73mil in June 2018.“The unanticipated advances – although disallowed under the sukuk’s transaction terms – severely depleted the cash balances of MESB, the concessionaire for the MEX and the sole source of cashflow supporting the repayment of the sukuk,” said RAM Ratings in its report. “The continued breach of the financing terms of the sukuk also shows huge breaches in financial management policies and corporate governance,” added RAM Ratings. Another area of concern is that MESB’s performance is sensitive to the government’s decisions on toll rate movements. “The company’s compensation receipts are constrained by the projected traffic volume under its concession agreement, as two of its three toll plazas already exceeded these projections.“A delay in MESB’s toll rate hike to 2021 (from RAM Ratings’ previous assumption of 2020) would reduce its projected revenue by RM39mil in 2020,” said the rating agency. Corporate News 10 Jul 2019 Maybank IB adjudged AsiaPac’s best Islamic investment bank, Sukuk adviser PETALING JAYA: Legal action is pending against Tan Sri Abu Sahid Mohamed’s Bright Focus Bhd by holders of its RM1.35bil sukuk musharakah, as they look to recover RM97.02mil in advances made to its holding company, Maju Holdings Sdn Bhd, in 2018. Bright Focus holds the concession for the 26km Maju Expressway (MEX) via its 96.8% subsidiary Maju Expressway Sdn Bhd (MESB). It is a wholly owned subsidiary of Maju Holdings, in which Abu Sahid is executive chairman and ultimate shareholder. “The legal action is now pending following a restructuring exercise of the sukuk. Steps are being taken to bring in liquidity support from a financial institution, and to relook some of its repayment timelines,” said a source. Tags / Keywords: Related News In a written response, a spokesperson for Bright Focus confirmed that the legal action is pending its restructuring proposal where it would initiate a new debt for debt swap to address the following: > Better debt service cover ratio (DSCR) via a liquidity facility that is pending approval. {{category}} {{time}} {{title}}last_img read more

MH17 nextofkin say Msias stand on investigation confusing demand briefing

first_img World 19 Jun 2019 Russians, Ukrainian to face murder charges over downing of Flight MH17 Related News Airlines 15 Jun 2019 Investigators to identify Malaysia Airline MH17 suspects Nation 09 Jul 2019 Dr M: No one to lead Malaysia Airlines yet Related News {{category}} {{time}} {{title}} KUALA LUMPUR: The next-of-kin (NOK) of 31 victims of Malaysia Airlines (MAS) flight MH17 has urged local authorities to brief them over its action plans over the mystery of the ill-fated plane which went down in 2014.In a statement, NOK said the inaction by local authorities has caused distress and discontent.According to the group, Malaysia Airlines and Khazanah Nasional Bhd had not released any statements over the MH17 investigation.”We would therefore like to be briefed by the relevant Malaysian authorities on the action plans in place, if any, which are aimed to uncover the truth behind the incident which had taken the lives of 41 Malaysian citizens. AdChoices广告NOK also criticised contradicting statements made by the government against the Joint Investigation Team (JIT).”These statements have added confusion and caused anguish to some of the NOK,” it added.Last June, the JIT, consisting of Australia, Belgium, Malaysia, the Netherlands and Ukraine, announced that four individuals – three Russians and one Ukrainian – would be charged with the downing of MH17.According to the NOK, Malaysia’s representative on the JIT, Mohamed Hanafiah, said that Malaysia supported the JIT’s conclusions .”Notwithstanding, statements made by Malaysian officials subsequent to said press conference are inconsistent with the position taken by Mohamed Hanafiah.”To our knowledge, the JIT is the only body that has been working tirelessly for the last five years to uncover the truth behind the MH17 incident and to hold accountable those responsible for the tragedy.”In the absence of any other investigations or findings, we would like to express our full support to the JIT and the findings which have since been presented.”We would also like to place on record our sincere gratitude and appreciation for their efforts thus far.”On June 20, Prime Minister Tun Dr Mahathir Mohamad described the decision to charge the four individuals with murder over flight MH17 as a political plot against Russia.He said Malaysia was not convinced by the JIT’s findings and demanded that the investigators provide proof that the Russians were behind the shooting.The four were Russian nationals Igor Girkin, Sergey Dubinskiy and Oleg Pulatov, and Ukrainian Leonid Kharchenko.Related stories:Wisma Putra: Work with JIT to bring justice for MH17Pompeo ups MH17 pressurePM: Blaming Russia for MH17 is politically motivatedMalaysia Airlines others avoid parts of Iran-controlled airspaceCharging Individuals on the basis of a deeply flawed investigationResuscitating Malaysia Airlines now is a tough call: JomoMH17 probe still an ongoing process, says Saifuddinlast_img read more

Football Belgian champions Genk sign son of Hagi

first_img Football 06 Jul 2019 Liverpool expect Keita to be fit for pre-season training Football 08 Jul 2019 Bayern waiting for transfer market domino effect – Rummenigge Related News {{category}} {{time}} {{title}} BRUSSELS (Reuters) – Belgian champions Racing Genk have strengthened their squad for the new season with Romania international Ianis Hagi, the son of the player known as the Maradona of the Carpathians.The 20-year-old son of Gheorghe Hagi, one of the outstanding players of his generation, has signed a five year deal until 2024, the club said.He moves from his father’s club Viitorul Constanța, although this is his second foray out of Romania, having spent 18 months at Fiorentina, where Hagi went aged 17 but played only twice.Hagi helped Romania reach the semi-final of last month’s European under-21 Championship, emerging as one of the stars of the tournament in Italy. AdChoices广告He has also been capped at senior level.Genk will compete in the Champions League this season with automatic entry into the group stage. (Reporting by Mark Gleeson; Editing by Sudipto Ganguly) Football 08 Jul 2019 Chinese champions Shanghai SIPG confirm Arnautovic signing Related Newslast_img read more

Foreign students lament harsh treatment

first_img Nation 9h ago University informed of Nigerian student’s death {{category}} {{time}} {{title}} “I have been so scared since that experience. I have stopped going out at night,” said the Indonesian who’s studying here.She also claimed to have lost 10kg and clumps of hair due to trauma following the incident. Ashanti, 21, and Eshe, 26, from Zambia and Zimbabwe (the names of these legitimate students have been changed to protect their identities) were recently detained for four days despite having their iKad.Ashanti’s friend later brought her passport but they still refused to let her leave.“We slept on a dirty floor and barely had water to drink. “It was traumatising. They took my prints and mugshot but I’m not a criminal.” Sasha, 26, claimed that he was confronted by enforcement officers wearing masks and hoodies in May.“I initially resisted because I didn’t know who they were. I was pushed, kicked and thrown to the ground when I tried to explain that my passport was in my apartment.“When I arrived at the detention centre, I was handcuffed together with 29 others. I could see fear in the eyes of the youngsters,” said the Russian.Khalid, 22, from the United States, and Hameed, 20, from Oman, were also handcuffed.Khalid had photos of his travel documents but had left his iKad at home. “I wanted to get it for them but they said no,” he said.Hameed was taken away when he was at the barber shop.“I was in handcuffs for almost 11 hours – even when I was sleeping in a small cell with 20 others,” he said, adding that the food was terrible.Ebele, 30, from Bostwana, said not everyone who comes here are illegals.“Most of us came here to study. We are human beings. We have our dignity.” Foreign students attending universities here have become the target of overzealous enforcement against illegal immigrants, Malay­sian Association of Private Colleges and Universities told The Star on July 4.The association had received numerous complaints from its member institutions on the predicament faced by their foreign students. Wrongfully harassed: Foreign students attending universities in Malaysia are often mistaken for illegals and mistreated. PETALING JAYA: Some foreign students here have spoken out about what they went through when enforcement officers checked on them.One of them, known only as Aisyah, recounted how she was trying to get a e-hailing ride outside a restaurant with two friends last year when they were detained despite having valid iKad. (The iKad was gazetted as a valid identification document on Feb 22 last year.)“They said our documents were invalid but how can that be when it was issued by the authorities? Nation 04 Jul 2019 Foreign students being victimised Related News Related News Nation 9h ago ‘Carry documents with you’last_img read more

MPs not frequenting their constituencies have rough time Shashi Tharoor

first_img Press Trust of India New DelhiJuly 12, 2019UPDATED: July 12, 2019 16:25 IST Shashi Tharoor with Rahul Gandhi.Parliamentarians who have a slightly different relationship with their constituencies and are less frequently seen there have a rough time, according to Congress MP Shashi Tharoor.Speaking at a conclave in Delhi on Thursday, Tharoor, who has been elected to the Lok Sabha from Thiruvananthapuram in Kerala thrice in a row since 2009, said he believes he has done his job properly and that is the reason why people have reposed faith in him.After the recent Lok Sabha elections results, critics attributed the loss of Congress leader Rahul Gandhi from his family’s pocket borough Amethi to his disconnect with the voters of that constituency.Tharoor, though, pointed towards only MPs from the BJP and those from northern India in support of his contention.”MPs, particularly those from the north, who have a slightly different relationship with their constituencies and are less frequently seen there have a rough time,” he said.”They are the ones who can perhaps win only in Narendra Modi’s name and they do, like this time. But for most of us what differentiates us is precisely the work we do in our constituencies,” he said.He said people re-elected him as they believe that he has done his job properly.”People have seen me, seen me attending to their needs and that’s why they have trusted and voted for me.”Tharoor was speaking on the topic “Clients and Constituents: Political Responsiveness in Patronage Democracies” which is also the title of a book by academician Jennifer Bussell.The third edition of the South Asia Conclave organised by Oxford University Press witnessed researchers, policymakers, bureaucrats, academicians, and journalists from debating contemporary ideas that define modern South Asia.The conclave closely examined the key issues impacting the region, such as political challenges related to ethnic and religious diversity, identity politics, ethnic violence, terrorism, separatism, governance, economic growth, gender consciousness, national security, changes in culture and social structure as well as the significance of diaspora.Also Read | Shashi Tharoor uses cricket analogy to criticise Union BudgetAlso Watch | Congress altered ground reality while in power, Shashi Tharoor hits back at PM ModiFor the latest World Cup news, live scores and fixtures for World Cup 2019, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted bySanchari Chatterjee Next MPs not frequenting their constituencies have rough time: Shashi TharoorCongress MP Shashi Tharoor has said MPs who do not visit their constituencies often have a tough time.advertisementlast_img read more

Four exCMs will not allow Congress to form govt BJP MLA Atanasio

first_img Press Trust of India Panaji (Goa)July 12, 2019UPDATED: July 12, 2019 22:16 IST (Image Credit: ANI)The four former chief ministers in the Congress will never allow the party to come to power in Goa, Panaji MLA Atanasio Monserratte, who joined the ruling Bharatiya Janata Party two days ago, said on Friday.Atanasio Monserratte and nine other MLAs crossed over to the saffron party Wednesday, reducing the Congress’ strength in 40-member Goa Assembly to five.Of the five remaining legislators, four are former chief ministers, namely, Ravi Naik, Luizinho Faleiro, Digambar Kamat and Pratapsingh Rane.”They want to become chief minister again and they will never allow Congress to form government,” Atanasio Monserratte told reporters.The fact that even Leader of Opposition Chandrakant Kavlekar left the party and joined the Bharatiya Janata Party indicated how bad the things were in the Congress, he also added.However, he himself was not in the position to comment on the Congress’ affairs as he had joined it recently, he said.”I was like a traveler in Congress for one month,” he said.Atanasio Monserratte won Panaji Assembly by-election on Congress ticket in May.ALSO READ | Goa CM Pramod Sawant seeks resignation of 3 ministers, independent MLA to induct new facesALSO WATCH | Please change your thinking: BJP MLA’s daughter’s emotional appeal to her fatherFor the latest World Cup news, live scores and fixtures for World Cup 2019, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byKritika Kashyap Tags :Follow congressFollow Atanasio MonserratteFollow PanajiFollow Bharatiya Janata PartyFollow Goa Next Four ex-CMs will not allow Congress to form govt: BJP MLA Atanasio MonserratteAtanasio Monserratte and nine other MLAs crossed over to the saffron party, reducing the Congress’s strength in 40-member Goa Assembly to five.advertisementlast_img read more