Manchester United Is Too Unlucky To Be Great

Tottenham1.782.13+0.35 West Brom1.141.18+0.04 Liverpool1.862.09+0.23 AVERAGE GOALS West Ham1.431.33-0.10 Watford1.101.16+0.06 Stoke City1.301.12-0.18 Hull City1.011.03+0.02 Crystal Palace1.401.38-0.02 Sunderland1.000.81-0.19 Leicester City1.331.28-0.05 That’s only 0.19 goals per game more than Man U has actually scored, which may not sound like much. And it isn’t! It amounts to a grand total of 7.8 goals over a full, 38-game season. But goals are a premium commodity in soccer — one extra goal can easily be the difference between a draw and a win, and thus a difference between one point and three in the standings.Teams as good as Manchester United don’t usually miss as many goals as Manchester United has. Since 2010-11 there have been 57 English Premier League teams that have scored more goals than they’ve allowed. Manchester United, as it currently stands, is the ninth-most unlucky team on the list. While that’s not record breaking, it’s enough to take a team from solid Champions League contender to long shot.Even more frustrating, for both the team and its fans, Manchester United is missing the best kinds of shots. They’re missing opportunities that soccer stats-keeper Opta labels as “big chances,” chances such as Rashford’s against Chelsea. (Which is why it was so impressive Rashford’s went in!) They’re the kinds of chances you remember a player missing, the sitters, the one-on-ones with the keepers, the striker arriving completely unmarked in the box at exactly the right time. Manchester United have had 59 shots labeled as clear-cut chances, fourth-most in the league and worth 25.62 expected goals. From them, they’ve scored a disappointing 21 goals, the 11th most in the Premier League. Wipe out that 4.62 expected goal deficit (the second-biggest “big chance deficit” in the league, behind only mediocre Stoke City) and United are only two off their expected goal pace.But wait there’s more. A full 50 percent of the big chances that Manchester United have put on target have been saved by the opposing keeper. That’s the kind of thing that rarely happens. No other team this season has had more than 42 percent of its on-target big chances saved. In fact, only six teams in the last seven seasons have had more than 50 percent of the big chances they put on net saved. If it seems as though goalkeepers have been standing on their heads to deny United all season, well, they have been.It’s cold comfort, but despite the lack of goals, this United team is better than in years past. Everything other than United’s finishing has improved. They’re taking 16.97 shots per game and getting six per game on target, the most in both categories since the 2011-12 season. The team���s expected goal total of 1.74 per game is up 0.48 goals from last season and is the highest mark since 2012-13. These are all steps in the right direction.All the stuff holding United back — the general lack of ability to put the ball in the back of the net, the seeming Achilles’ heel of big chances, opposing goalkeepers standing on their head on a weekly basis — is largely outside of Manchester United’s control. Finishing is a fickle thing. The expected goals a team creates is a much better guide to how they’ll do in the future than the actual goals they score. Players miss good chances sometimes. Sometimes they miss lots of good chances. Sometimes, they even do it for a whole season.It’s small consolation for United fans coping with the possibility of a fifth-place season, but United’s attack actually marks a decided step forward for the club. The things the team could control were good enough to get it a top-four EPL finish. What got in the way were the things it couldn’t.Check out our club soccer predictions. Burnley1.031.00-0.03 AFC Bournemouth1.351.36+0.01 Manchester City2.091.97-0.12 Middlesbrough0.940.72-0.22 Manchester United’s Ander Herrera intercepted a pass in a game this month against Chelsea (possibly with some extra-legal help from his arm), turned and slid an inch-perfect pass through Chelsea’s league-best defense. Young striker Marcus Rashford collected the pass and slotted the ball past Chelsea’s keeper to give United an early 1-0 lead. United went on to win 2-0, and the goal was emblematic of the style of soccer that United’s manager, Jose Mourinho, prefers to deploy against top opponents: Defend stoutly, transition fast and use an opponent’s momentum against them to create high-quality counterattacking opportunities. It worked like a charm against Chelsea.If only it always did. That goal kept Manchester United’s relatively slim hopes of a top-four finish alive (the chances of which have since climbed to 35 percent, according to FiveThirtyEight’s club soccer predictions). But the reason Man U’s chances aren’t good is because they’re one of the unluckiest teams in the Premier League. For large stretches of the season the team has played well, created the kinds of chances it wants to create and then … not actually scored goals.Manchester United currently sits in fifth place in the Premier League with 63 points after 32 games. On Thursday, they face Manchester City in the much-anticipated Manchester derby, with a chance to pass their rivals in the standings and stake a claim on fourth place. It’s a chance to salvage what has seemed to be a disappointing season with a momentous win and a real shot at the top four.While Manchester’s defense has been excellent, the attack has struggled to keep pace. The team only concedes 0.77 goals per game, the second-best mark in the league.1The data in this article is current through last Friday. Only Tottenham Hotspur has been stingier. The attack is averaging 1.55 goals per game, though, only seventh best in the Premier League this season. It’s a testament to United’s strong defense that they’re even as close to the top as they are. The funny thing is that there’s nothing wrong with United’s attack. If instead of looking at the team’s goals, we look at its expected goals, a metric that estimates how many goals a team should have scored on average given where they were taken, the team looks much better. United’s expected goal total is a more respectable 1.74 goals per game, the fourth highest in the Premier League. Manchester United isn’t scoring like we’d expect Chelsea1.572.03+0.46 Southampton1.421.19-0.23 Manchester United1.741.55-0.19 Swansea City1.161.12-0.04 TEAMEXPECTEDACTUALDIFFERENCE Everton1.511.82+0.31 Data for all English Premier League teams is current through April 21.Source: ESPN Stats & Information Group Arsenal1.742.03+0.29 read more

The Lenovo Smart Clock The smartest alarm clock for your nightstand

first_imgChris Monroe/CNET The Lenovo Smart Clock is now shipping out to customers. Developed alongside Google, it’s a bedside alarm clock that responds to voice commands through Google Assistant. It has a simple touchscreen so you can check your calendar and the weather when you first wake up.Because it was developed with Google, it was obviously meant to coexist with the Google Nest Hub (formerly the Google Home Hub) in Google’s smart home product line. The Nest Hub is a smart display with a more robust touchscreen that can play videos, show you pictures and do lots of other tasks that the Lenovo Smart Clock can’t.The Nest Hub retails for $130 and the Lenovo Smart Clock for $80, but the Nest Hub is frequently on sale for even less than the retail price of the Lenovo Smart Clock. In that case, it can be hard to justify spending roughly the same amount on a device with a less capable touchscreen.See it at WalmartNote that CNET may get a share of the revenue if you buy anything featured on our site.In my review, I mentioned this as one of the downsides of the Lenovo Smart Clock. You shouldn’t buy it expecting all of the same features as a full-sized smart display. You’ll be disappointed. That said, the Lenovo Smart Clock is unique enough to stand on its own and it’s generally a better gadget if you specifically want a smart gadget for your bedside table. Here’s why.Tech detoxThe Lenovo Smart Clock is a better fit if you want to get away from your phone before bed. The Nest Hub can’t do everything you can do on a phone, but you can still use it to watch YouTube videos and scroll through images. See All Aug 30 • Battling bot vacs: iRobot Roomba S9+ vs Neato Botvac D7 Connected Lenovo Smart Clock: Google Assistant and Lenovo combine… Now playing: Watch this: CNET Smart Home 12 Photos Your alarm can trigger your good morning routine, which will tell you about your calendar and play the news by default. You can also customize the routine to control your smart home devices and more in the Google Home app. This routine won’t trigger when you snooze, just when you stop your alarm for good.My favorite feature of the bunch is the sunrise function. Turn this on, and the screen on the Lenovo Smart Clock will gradually start getting brighter 30 minutes before your scheduled alarm. This wake-up light serves to naturally ease you out of your sleep leading up to your wake-up time and it works great. The Nest Hub could potentially add this feature in a future update, but right now, the Lenovo Clock has it and the Nest Hub doesn’t.Smack to snoozelenovo-smart-clock-7 Chris Monroe/CNET When your alarm does start buzzing, you can smack the top of the Lenovo Smart Clock to get it to stop. You can customize this so that hitting it will cause it to snooze or stop entirely, which is pretty great. If you use the Nest Hub as an alarm, you can stop it just by saying “Stop” or you can hit a snooze button on the touchscreen. Neither is an arduous task, and you have those options with the Lenovo Clock too. When I’m groggy in the morning, I get a lot of satisfaction from stopping my alarm with a little bit of brute force.I almost always hit snooze a couple of times and finding a button on the Nest Hub’s screen is honestly more work than I want when I’m still struggling to wake up. Smacking the top of the Lenovo Smart Clock feels right — a call back to a big snooze button on the top of a traditional alarm clock. The fact that you can customize what happens when you hit it makes it even better.Sound qualityBelieve it or not, the little Lenovo Smart Clock sounds better when it’s playing music than the Nest Hub. The Nest Hub isn’t exactly a giant device and neither one can do more than fill a room with background music, but Lenovo makes great use of its built-in 3W speaker and two passive radiators.It sounds pretty good, especially for its size, and doesn’t have any noticeable distortion in sound quality, even at max volume. Again, don’t expect booming stereo sound — Lenovo’s alarm clock is tiny — but it’s good enough to outclass the tinny and underwhelming sound quality of the Nest Hub.Fits in better Smart Home 14 Photos I love the cute and colorful design of the Nest Hub. It could blend into a wide variety of rooms and Google offers a few color choices for the fabric exterior. The Lenovo Smart Clock just has the one grey fabric finish, but it’s perfect for your nightstand.Neither has a built-in camera and both have a mute switch to help with peace of mind. Plus, they both have an ambient light sensor to minimize glow from the display. But Lenovo’s alarm clock is small enough to fit onto any open surface in your bedroom. It has a USB port for charging your phone and the rectangular front is pleasantly reminiscent of old school alarms with a modern twist.Nevertheless, wait for a saleThe Google Nest Hub is a great smart display. The Lenovo Smart Clock is a great smart alarm clock. Both are helpful smart home gadgets. Yes, they both have Google Assistant built in for voice control and the screen on the Nest Hub does more, but the Lenovo Smart Clock is perfectly suited for what it is. If you specifically want to upgrade your alarm clock with smarts, this cute little gadget from Lenovo is your best option right now.With that said, the frequent sales on the Nest Hub make the Lenovo Smart Clock seem overpriced. Its more limited functionality makes a lot more sense when it’s $50 less than the Nest Hub. Lenovo’s full-sized smart display has also gone on sale a few times since it was released last year, and your best bet might be to wait for a similar sale on the Lenovo Smart Clock. Once it’s discounted, if you don’t need all of the features of the Nest Hub, you can save money by going with the more streamlined bedside gadget. Aug 31 • Best smart light bulbs for 2019 (plus switches, light strips, accessories and more) News • The Lenovo Smart Clock can now double as a digital photo frame Smart displays let Amazon, Facebook, Google show you answers to your questions • Lenovo Smart Clock Aug 31 • The best coffee grinders you can buy right now The Lenovo Smart Clock is closer in functionality to a smart speaker as the touchscreen only offers a few prescribed functions while still letting you issue any of Google Assistant’s recognized voice commands. For certain families, that more limited functionality will be a good thing.If you want to limit screen time for yourself and your family, the Lenovo Smart Clock offers a viable alternative. You can still see the most pressing pieces of info — you can check on your security cam, look at your calendar, and see the forecast and your commute.Lenovo was intentional with the features left out of the Smart Clock. What remains makes sense for your bedside and for the things you need to know when you’re going to sleep or first waking up. It offers enough info that you could reasonably turn off your phone without the temptation to keep consuming the vast content of the internet anyway.Sunrise alarmsYou can set an alarm with a voice command to the Google Nest Hub, so you can use it to wake you up, but the Lenovo Smart Clock is designed for that task. It will suggest alarms based on your first appointment the next day. You can set multiple alarms and customize each one. You can change the alarm tones, the snooze length and the volume of the alarm (separate from the volume of the speaker). The Lenovo Smart Clock helps Google Assistant ease you out of sleep Share your voice Tags reading • The Lenovo Smart Clock: The smartest alarm clock for your nightstand Review • The Lenovo Smart Clock: A deft, Google Assistant-powered twist on the simple alarm clock 3:14 Comments Nest Google Lenovo 2 CNET Smart Home Aug 31 • Alexa can tell you if someone breaks into your houselast_img read more

Washington driver had Pokemon Go open on eight phones at once

first_imgIs there a Pokemon named DontDoThis? Maybe there should be. On Tuesday, a driver in Washington state was found parked on the shoulder of State Route 518 in the Seattle suburb of Burien. With him were eight smartphones, all opened to the Pokemon Go app. BUSTED! More Pokemon news Gotta eat ’em all at the Pokemon Cafe 13 Photos Pokemon Go #PokemonDistraction Sergeant Kyle Smith contacted a vehicle on the shoulder yesterday evening. This is what was next to the driver! Playing #PokemonGO with EIGHT (8) phones! Driver agreed to put phones in back seat and continued his commute with 8 less distractions.— Trooper Rick Johnson (@wspd2pio) August 14, 2019 The man put his gaming rig out of reach, and lived to play another day.But distracted driving has caused accidents before.”I can remember only one collision that we were able to confirm was caused by the driver playing Pokemon Go, (who) rear-ended another vehicle,” Johnson told me. “I am assuming there are more, but humans don’t self-report that often when we arrive at scenes to investigate.”(Hat tip to Seattle-based GeekWire for spotting this story.) Gotta soak ’em all! Pokemon Go hunter falls into pond while playing Norway’s prime minister caught playing Pokemon Go in parliament College students move one step closer to majoring in Pokemon Go Preview • The ultimate guide to everything Pokemon Go Pokemon Gocenter_img How To • Harry Potter: Wizards Unite best Pokemon Go every way but one News • Pokemon Sleep is Pokemon Go but for bedtime Share your voice 1 Culture Gaming Tags Comment Trooper Rick Johnson of the Washington State Patrol told me the man wasn’t driving while he played the eight different screens — his car was parked. But the overenthusiastic gamer was informed that the shoulder of a busy highway is meant for breakdowns or flat tires or the like. Not pulling over so you can pitch Pokeballs at a Snorlax.”Sgt. (Kyle) Smith asked him to put the phones in his back seat and continue on, as the shoulder is only for emergency parking,” Johnson told me.As you can see, the driver seems well-prepped for octo-play. His phones, of varying sizes, were all nestled into what looks like a homemade foam case that holds them all steady. Each screen was open to the gaming app. last_img read more

Tracing the journey of Sufism

first_imgSufi music has the power and the magic to calm one’s soul and make one transit into another world. However, there’s more to Sufi than being just the music of God. In order to reveal the facets and trace the journey of Sufism through music, an interactive performance titled ‘Sounds of the Sufis’ will be held on March 19 at Main Auditorium, India International Centre. The performance, which will trace the journey of Sufism from 8th Century AD to its impact in the present times on our everyday lives, includes narrations and mesmerising live music that cover the lives of the pillars of the Sufi thought, from Moinnuddin Chisti to Amir Khusrau to Kabir to Meera Bai and many others.  Also Read – ‘Playing Jojo was emotionally exhausting’By picking up pieces from their own lives, the performers explore the essence of Sufism reflecting research, interaction with scholars and a strong personal interest. The performance touches upon the lives and messages of 11 mystics and involves compositions in six regional languages including Kashmiri, Urdu, Farsi and Punjabi. The narratives are performed in English and Hindi, creating a rare ambience for introspection, indulgence and appreciation.  Also Read – Leslie doing new comedy special with NetflixThe event will be presented by The Looking Glass.  Anuraag Dhoundeyal, co-founder of The Looking Glass is also a singer, composer and a performer; and he has had years of training in Hindustani Classical singing and has to his credit both, international and national performances. His expertise lies in creating interactive performances that engage the audiences in experiential ways. Through ‘Sounds of the Sufis’, Anuraag lets his singing do the talking as he adds a distinct characteristic to Sufi with his soulful rendition of their poetry. As an educator, Psychologist and a storyteller, Priyanka Patel has been integrating arts and psychology to create environments that help individuals interact deeply with themselves. She has been training students, teachers and parents, helping them build life skills through workshops. In ‘Sounds of the Sufis’, she engages with stories and narrations to trace the experiences that celebrate humanity through love, selflessness and authenticity. Karan Chitra Deshmukh, who is a Tabla player and a multi percussionist, has been enthralling audiences with his drumming skills. He has been a technician and has assisted the esteemed Karsh Kale whilst also performing with him on several occasions along with being part of the MTV Coke Studio and Unplugged. Karan brings the rhythm to the ‘Sounds of the Sufis’ adding crispness to it with his dynamism.last_img read more

Turkish public broadcaster Türkiye Radyo ve Televi

first_imgTurkish public broadcaster Türkiye Radyo ve Televizyon Kurumu (TRT) has signed a multi-year contract with SES for the carriage of international channel TRT Turk on the Astra platform at 19.2° East.TRT will use former analogue capacity on Astra that became available when broadcasters in Germany switched off the analogue satellite signals on April 30.last_img

Some 611 of viewers watch overthetop or subscr

first_imgSome 61.1% of viewers watch over-the-top or subscription video-on-demand content as part of their daily viewing behaviour, according to TiVo-owned Digitalsmiths.The 15th edition of Digitalsmiths’ Video Trends Report, which polled viewers in the US and Canada, claims that on a daily basis 69.5% of viewers watch previously recorded TV and 85.7% watch live TV from their channel guide.  According to the research, SVOD growth has been trending up with increases of 5.6% year-on-year, 9.2% over two years and 13.7% over three years.The top three subscription services were Netflix, Amazon Prime Video and Hulu, with 56.6% of those polled spending between US$6 and US$14 a month on SVOD services.Investigating the pricing of Netflix, the report said: “In Q3 2016, for the second quarter in a row, the largest group (39.4%) selected the US$12 to US$15 range as the most they would pay for Netflix service. Same as last quarter, the second largest group (30.4%) will not pay any more than they currently do.”Asked whether they would use a free version of Netflix or Hulu that required viewers to watch commercials, 69% of respondents answered yes. Some 83.3% of respondents said they would be willing to watch one to four commercials in a 30-minute period.In Q3 some 82.4% of total respondents had a pay TV subscription. However, of those that didn’t, 17.9% said they had cut their cable or satellite service in the last 12 months.Price was the top reason given by 82.9% of cord-cutters, while 59.5% cited using a service such as Netflic, Hulu or Amazon as a reason to churn away from their pay TV package.The Q3 2016 Video Trends Report is based on a survey of more than 3,100 Digitalsmiths customers. Digitalsmiths offers personalised video discovery that is designed to drive higher viewer engagement.last_img read more

Comcast tops profit forecasts cable TV subscriptions fall

first_img © 2018 The Associated Press. All rights reserved. Explore further Comcast is reporting a stronger-than-expected second-quarter profit even as it struggles to keep cable TV subscribers. This March 29, 2017, file photo shows a sign outside the Comcast Center in Philadelphia. Comcast is reporting a stronger than expected second-quarter profit even as it struggles to keep cable TV subscribers. Earnings reported Thursday, July 26, 2018, were $3.22 billion, or 69 cents per share. (AP Photo/Matt Rourke, File) Citation: Comcast tops profit forecasts; cable TV subscriptions fall (2018, July 26) retrieved 18 July 2019 from This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Comcast drops Fox bid, paving way for sale to Disney On Thursday, the company reported a 22 percent jump in earnings to $3.22 billion, or 69 cents per share. Earnings, adjusted for non-recurring gains, were 65 cents per share, which, according to a survey by Zacks Investment Research, was 4 cents better than expected.Revenue rose 2.1 percent to $21.74 billion in the period, just short of expectations. The company added 260,000 high-speed internet customers during the quarter, though it has been struggling overall as it lost 140,000 video customers.The mixed quarterly results follow the Philadelphia-based company’s decision last week to drop its $66 billion bid for Fox’s entertainment business. The Walt Disney Co. had topped that offer with $71 billion as part of a bidding war. The move freed Comcast to focus on its other potential acquisition, European pay TV operator Sky, a deal that would help the Philadelphia-based cable and media company expand beyond the U.S.Last week, Comcast made a bid that values Sky at $34 billion, topping $32.5 billion offered by21st Century Fox.Cable and telecom companies have been buying the companies that make TV shows and movies to compete in a changing media landscape. Although internet providers like AT&T and Comcast directly control their customers’ access to the internet in a way that Amazon, YouTube and Netflix do not, they still face threats as those streaming services gain in popularity.Other recent deals include AT&T’s buyout of Time Warner last month for $81 billion.last_img read more

PowerGrid to install solar lighting systems in E Godavari district

first_imgPower Grid Corporation of India Ltd COMMENTS Published on PowerGrid Corporation of India Ltd has signed a memorandum of understanding (MoU) with New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) for the supply and installation of solar lighting systems at Jaggampeta and Irripaka villages in East Godavari district of Andhra Pradesh.According to a company release, solar lighting will help in improving the living conditions of the villagers. It will also result in the savings of energy bills and optimum use of natural light.Under this PowerGrid’s CSR initiative with an estimated amount of Rs 20.82 lakh, 18 LED-based 50 solar street lighting systems for Jaggampeta and 25 for Irripaka villages will be installed by NREDCAP, a Andhra Pradesh Government Undertaking.PowerGrid, a Navaratna under the Ministry of Power, has undertaken various CSR activities with a thrust on health, rural development, infrastructural development, skill development, education and environment. SHARE SHARE EMAIL SHAREcenter_img August 04, 2018 energy and resource Andhra Pradesh COMMENTlast_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