function / whole life cost
* Value is improved by increasing the worth of the functions relative to the cost
Value = function plus quality / cost
* function = the specific worth that a design/ item must perform
* quality = the owner's or user's needs, desires, and expectations
* cost = The life cycle cost of the product/ project
* Therefore, we can say that:
* Value= The most cost effective way to reliably accomplish a function that will meet the users' needs, desires and expectations.
2013年11月19日星期二
2013年11月18日星期一
Introduction to VE
- Value Engineering is a set of disciplined procedures designed to seek optimum value for both initial and long-term investment
- First utilized in the manufacturing industry during World War 11, it has been widely used
Application of VE
- Togernment project include b
* Establishing and verifying project objective analysing project briefs
* Optimising design solutions
* Resolving conflicts and improving
* Creating and analysing a range of options for executive consideration
Key Characteristics
- Value Management has the following key characteristics
- A specific methodology
- Based upon a creative problem solving approach
- Involves key stakeholders in a managed team approach
- Focuses on function ie. what is must do, not what it is
- Focuses on achieving value-added solutions
- Based upon on integration
-Value Engineering can be defined as an organized approach to providing the necessary functions at the lowest cost
- From the beginning the concept of value engineering was seen to be cost validation exercise, which did not effect the quality of the product.
- can be degfined as organized approach to the identification and elimination of unnecessary cost
- Unneccessary cost is cost which provides netiehr use, nor life, nor quality, nor apperance, nor customer features.
- Value Engineering is not a design or cost-cutting exercise
- VE is a creative, roganized effort, which analyzed the requirements of a project for the purpose of achieving the essential functions at the lowest total costs ( capital, staffing, energy, maintenance ) over the life of the project.
- Through a group investigation, using experienced, multi-disciplinary teams, value and economy are improved through the study of alternate design concepts, materials, and methods without compromising the functional and value objectives of the client.
- Value Engineering is concerned with the achievement of necessary functions at minimum cost without detriment to quality, realitbility, performance or delivery.
- VE is a tight, technical discipline with a very clear focus on cost. Dr Stuart Green says that that the two assumptions are :
* Function is an objective characteristic
* All solution have the same level of functional performance and can be compared in terms of cost.
2013年11月16日星期六
Malaysia's Q3 current-account surplus rises
Malaysia's third-quarter current account surplus widened to RM9.8 billion from RM2.6 billion in the previous quarter, central bank data showed on Friday.
The third-quarter surplus was the biggest in three quarters.
Net direct investment in the third quarter posted an inflow of RM2.0 billion, from a RM7.9 billion outflow in the previous quarter.
Net portfolio investment outflow was RM9.7 billion, from a RM3.7 billion inflow in the second quarter.-
The third-quarter surplus was the biggest in three quarters.
Net direct investment in the third quarter posted an inflow of RM2.0 billion, from a RM7.9 billion outflow in the previous quarter.
Net portfolio investment outflow was RM9.7 billion, from a RM3.7 billion inflow in the second quarter.-
Rubber prices close higher
Malaysian rubber prices closed higher today on renewed buying support amid a tight supply situation due to the rainy weather in the country.
He said the performance of the local market was also in tandem with the uptrend in rubber prices on the Tokyo Commodity Exchange, resulting from the prospects of an extended US monetary stimulus.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose seven sen to 737 sen a kg while latex-in-bulk added one sen to 519.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 gained four sen to 735 sen a kg while latex-in-bulk rose one sen to 519.5 sen a kg.
He said the performance of the local market was also in tandem with the uptrend in rubber prices on the Tokyo Commodity Exchange, resulting from the prospects of an extended US monetary stimulus.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose seven sen to 737 sen a kg while latex-in-bulk added one sen to 519.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 gained four sen to 735 sen a kg while latex-in-bulk rose one sen to 519.5 sen a kg.
Malaysia posts strong Q3 growth of 5pc
The Malaysian economy recorded a stronger growth of 5.0 per cent in the third quarter from a revised 4.4 per cent in the second quarter.
Bank Negara Malaysia said the economy will remain on its steady growth trajectory, supported by domestic demand from the private sector.
Domestic demand remained the key driver of growth, expanding by 8.3 per cent while exports turned around to grow by 1.7 per cent.
Most major sectors expanded further in the third quarter, supported by the continued strength in domestic demand and the improvement in trade activity.
The central bank also said that the current account surplus increased to RM9.8 billion in the third quarter, due to a higher surplus in the goods account.
The overall balance of payments registered a larger surplus of RM11.8 billion in the third quarter (2Q 2013: RM1.5 billion).
It said the gradual recovery in the external sector will support growth.
Bank Negara Malaysia said the economy will remain on its steady growth trajectory, supported by domestic demand from the private sector.
Domestic demand remained the key driver of growth, expanding by 8.3 per cent while exports turned around to grow by 1.7 per cent.
Most major sectors expanded further in the third quarter, supported by the continued strength in domestic demand and the improvement in trade activity.
The central bank also said that the current account surplus increased to RM9.8 billion in the third quarter, due to a higher surplus in the goods account.
The overall balance of payments registered a larger surplus of RM11.8 billion in the third quarter (2Q 2013: RM1.5 billion).
It said the gradual recovery in the external sector will support growth.
MAS offers year round daily frequencies
Malaysian Airlines (MAS) will offer year-round direct daily services between Auckland and Kuala Lumpur, effective March 30, 2014.
Regional senior vice-president, Australia/New Zealand/South-West Pacific, Lee Poh Kait said the airlines would officially operate daily from Auckland to Kuala Lumpur from end-March due to the positive response towards MAS' additional seasonal seventh weekly frequency.
The additional service, MH132, will depart Auckland every Monday at 1.15am and arrive in KL at 7.40am, in addition to Wednesday, Friday and Saturday.
The return flight, MH133, will depart Kuala Lumpur on Sunday in addition to Tuesday, Thursday and Friday departing at 8.45am and arriving in at Auckland 10.45pm the following day.
Meanwhile, the daily flights will be operated by the B777-200 aircraft with 35 business class and 247 economy seats, providing a total weekly capacity of 1,974 seats in each direction.
Lee said the increased frequency between Auckland and Kuala Lumpur was in line with MAS' continued efforts to further strengthen its position and competitive edge across the Australia/New Zealand market.
"We have also recently increased more capacity into Sydney, Melbourne and Perth, as well as, introduced Darwin as the sixth online destination in Australia.
"MAS passengers travelling from Australia/New Zealand will benefit from improved connectivity through the airlines' hub in Kuala Lumpur to other destinations within the network across Asia, to Europe and beyond," he added.-
Regional senior vice-president, Australia/New Zealand/South-West Pacific, Lee Poh Kait said the airlines would officially operate daily from Auckland to Kuala Lumpur from end-March due to the positive response towards MAS' additional seasonal seventh weekly frequency.
The additional service, MH132, will depart Auckland every Monday at 1.15am and arrive in KL at 7.40am, in addition to Wednesday, Friday and Saturday.
The return flight, MH133, will depart Kuala Lumpur on Sunday in addition to Tuesday, Thursday and Friday departing at 8.45am and arriving in at Auckland 10.45pm the following day.
Meanwhile, the daily flights will be operated by the B777-200 aircraft with 35 business class and 247 economy seats, providing a total weekly capacity of 1,974 seats in each direction.
Lee said the increased frequency between Auckland and Kuala Lumpur was in line with MAS' continued efforts to further strengthen its position and competitive edge across the Australia/New Zealand market.
"We have also recently increased more capacity into Sydney, Melbourne and Perth, as well as, introduced Darwin as the sixth online destination in Australia.
"MAS passengers travelling from Australia/New Zealand will benefit from improved connectivity through the airlines' hub in Kuala Lumpur to other destinations within the network across Asia, to Europe and beyond," he added.-
Oct vehicle sales fall to 55,078 units
Sales of passenger and commercial vehicles in October declined to 55,078 units from 55,447 units recorded in the same period last year, said the Malaysian Automotive Association (MAA).
It said the passenger vehicle segment recorded lower sales of 47,930 units during the month under review, compared with 48,505 units in the corresponding month last year.
Sales of commercial vehicles however rose to 7,148 units in October from 6,942 units registered in the same period in 2012.
When compared with September, the sales volume of both passenger and commercial vehicles in October was 0.2 per cent or 133 units higher.
Meanwhile, MAA said year-to-date October 2013 total industry volume registered a growth of 29,130 units or six per cent higher compared with the same period last year.
It said the increase could have been much higher if there was no technical computer glitch in the registration system at end-October 2013.
On output, MAA said the passenger vehicles production last month increased to 50,184 units from 46,605 units year-on-year, while commercial vehicles production fell to 4,365 units from 5,702 units previously.
It said total production for both segments increased to 54,549 units from 52,307 units recorded in the same period last year.
On outlook, MAA said the sales volume for November was expected to be higher than October as the market returned to normalcy after the release of Budget 2014, carry-over orders from October 2013 and excitement generated by the Kuala Lumpur International Motorshow 2013
It said the passenger vehicle segment recorded lower sales of 47,930 units during the month under review, compared with 48,505 units in the corresponding month last year.
Sales of commercial vehicles however rose to 7,148 units in October from 6,942 units registered in the same period in 2012.
When compared with September, the sales volume of both passenger and commercial vehicles in October was 0.2 per cent or 133 units higher.
Meanwhile, MAA said year-to-date October 2013 total industry volume registered a growth of 29,130 units or six per cent higher compared with the same period last year.
It said the increase could have been much higher if there was no technical computer glitch in the registration system at end-October 2013.
On output, MAA said the passenger vehicles production last month increased to 50,184 units from 46,605 units year-on-year, while commercial vehicles production fell to 4,365 units from 5,702 units previously.
It said total production for both segments increased to 54,549 units from 52,307 units recorded in the same period last year.
On outlook, MAA said the sales volume for November was expected to be higher than October as the market returned to normalcy after the release of Budget 2014, carry-over orders from October 2013 and excitement generated by the Kuala Lumpur International Motorshow 2013
Ibiden invests RM1.3b in Malaysia
GEORGE TOWN: Japanese electronics and ceramics producer, Ibiden Co Ltd is investing RM1.3 billion to increase production capacity at its second building at the Penang Science Park.
Its managing officer (deputy operation manager) Sotaro Ito said the manufacturing equipment would be installed by early next year and production was expected to kick off in September.
"The expansion will create 1,500 employment opportunities for Penangites," he told a press conference here today, which was also attended by Penang Chief Minister Lim Guan Eng.
Ito said the second building would supply high-technology and quality printed wiring boards (PWB) and free via stacked up structure (FVSS) to meet higher worldwide demand from increasing 4G communication network.
He said the RM1.3 billion investment in Malaysia was almost 50 per cent of Ibiden Group's capital expenditure in 2014, making its operation in the country the biggest base in Asia.
"Ibiden's decision to expand is due to its confidence in Malaysia which provides a conducive business environment and availability of skilled workforce," he said.
Ibiden also hoped to increase its local content, which is currently at between 10 per cent and 15 per cent, to enable it to be more competitive and cost-efficient, he said.
The second facility is set to enhance Ibiden's business competitiveness, he added.
Ibiden via Ibiden Electronics Malaysia was opened in 2008 as a major production base of PWBs and FVSS for use in smartphones and other electronic products.--
Its managing officer (deputy operation manager) Sotaro Ito said the manufacturing equipment would be installed by early next year and production was expected to kick off in September.
"The expansion will create 1,500 employment opportunities for Penangites," he told a press conference here today, which was also attended by Penang Chief Minister Lim Guan Eng.
Ito said the second building would supply high-technology and quality printed wiring boards (PWB) and free via stacked up structure (FVSS) to meet higher worldwide demand from increasing 4G communication network.
He said the RM1.3 billion investment in Malaysia was almost 50 per cent of Ibiden Group's capital expenditure in 2014, making its operation in the country the biggest base in Asia.
"Ibiden's decision to expand is due to its confidence in Malaysia which provides a conducive business environment and availability of skilled workforce," he said.
Ibiden also hoped to increase its local content, which is currently at between 10 per cent and 15 per cent, to enable it to be more competitive and cost-efficient, he said.
The second facility is set to enhance Ibiden's business competitiveness, he added.
Ibiden via Ibiden Electronics Malaysia was opened in 2008 as a major production base of PWBs and FVSS for use in smartphones and other electronic products.--
KLAS bags 4 new ground handling contracts
KL Airport Services Sdn Bhd (KLAS), a subsidiary of DRB-HICOM Bhd, has bagged four new ground handling services contracts from Hong Kong Express, Xpress Air, Tigerair and Hong Kong Airlines.
Chief executive officer Tazhi Borhan said KLAS would ensure smooth ground handling operations for the airlines' customers and passengers' safety.
Hong Kong Express, which flew into Penang for the first time today, has awarded the ground handling services contract including passenger check-in, baggage handling and aircraft handling services at the Penang International Airport in Bayan Lepas.
Tigerair, a leading Singapore-based budget carrier which awarded the contract to KLAS, resumed its flights to Langkawi International Airport on November 8, while Xpress Air, which started flying to Kuching from Pontianak on October 25, has appointed KLAS as the ground handler.
He said KLAS has also secured a contract from freight carrier, Hong Kong Airlines, whose inaugural flight to Kuala Lumpur International Airport on November 10, with a frequency of two flights weekly.
"KLAS' airline customers are assured of the highest standards of quality and efficiency to be accorded to any foreign airline that chooses to operate in Malaysia," he added
Chief executive officer Tazhi Borhan said KLAS would ensure smooth ground handling operations for the airlines' customers and passengers' safety.
Hong Kong Express, which flew into Penang for the first time today, has awarded the ground handling services contract including passenger check-in, baggage handling and aircraft handling services at the Penang International Airport in Bayan Lepas.
Tigerair, a leading Singapore-based budget carrier which awarded the contract to KLAS, resumed its flights to Langkawi International Airport on November 8, while Xpress Air, which started flying to Kuching from Pontianak on October 25, has appointed KLAS as the ground handler.
He said KLAS has also secured a contract from freight carrier, Hong Kong Airlines, whose inaugural flight to Kuala Lumpur International Airport on November 10, with a frequency of two flights weekly.
"KLAS' airline customers are assured of the highest standards of quality and efficiency to be accorded to any foreign airline that chooses to operate in Malaysia," he added
Oil rises above US$94
The price of oil rose above US$94 a barrel Friday after incoming Federal Reserve chief Janet Yellen indicated that economic stimulus will remain in place pending further improvement in the US economy.
Benchmark US crude for December delivery was up 35 cents to US$94.11 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract slipped 12 cents to close at US$93.76 on Thursday.
Brent crude, the international benchmark, was up 13 cents to US$108.41 a barrel on the ICE exchange in London.
Yellen, who is slated to replace Ben Bernanke in late January, testified Thursday to the Senate Banking Committee. She said the US economy has gained ground but still needs the Fed's support because unemployment remains too high at 7.3 per cent. The Fed is buying US$85 billion of government bonds and mortgage securities a month to keep interest rates low.
The remarks helped offset further signs of oversupply. Data from the Energy Department showed the U.S. produced more crude oil than it imported in October for the first time since 1995. It also showed crude oil supplies rising for an 8th straight week, by 2.6 million barrels.
In other energy futures trading on Nymex:
— Wholesale gasoline rose 0.3 cent to US$2.666 a gallon.
— Heating oil added 0.5 cent to US$2.928 a gallon.
— Natural gas was up 0.3 cent to US$3.602 per 1,000 cubic feet.
Benchmark US crude for December delivery was up 35 cents to US$94.11 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract slipped 12 cents to close at US$93.76 on Thursday.
Brent crude, the international benchmark, was up 13 cents to US$108.41 a barrel on the ICE exchange in London.
Yellen, who is slated to replace Ben Bernanke in late January, testified Thursday to the Senate Banking Committee. She said the US economy has gained ground but still needs the Fed's support because unemployment remains too high at 7.3 per cent. The Fed is buying US$85 billion of government bonds and mortgage securities a month to keep interest rates low.
The remarks helped offset further signs of oversupply. Data from the Energy Department showed the U.S. produced more crude oil than it imported in October for the first time since 1995. It also showed crude oil supplies rising for an 8th straight week, by 2.6 million barrels.
In other energy futures trading on Nymex:
— Wholesale gasoline rose 0.3 cent to US$2.666 a gallon.
— Heating oil added 0.5 cent to US$2.928 a gallon.
— Natural gas was up 0.3 cent to US$3.602 per 1,000 cubic feet.
Malaysia raises CPO export tax for 5pc
Malaysia, the world's No.2 palm oil producer, has set its crude palm oil export tax for December at 5.0 per cent, a government circular showed on Friday — the first hike after nine months.
The rate had been left unchanged at 4.5 per cent since March.
The Southeast Asian country calculated a reference price of RM2,452.43 per tonne for crude palm oil for December, effectively raising the export duty to 5.0 per cent.
The rate had been left unchanged at 4.5 per cent since March.
The Southeast Asian country calculated a reference price of RM2,452.43 per tonne for crude palm oil for December, effectively raising the export duty to 5.0 per cent.
Asean stocks: Mostly higher
BANGKOK: Most Southeast Asian stocks rose in line with Asia on Friday, helped by prospects of extended US monetary stimulus while typhoon-hit Philippines climbed to a one-week high after a positive view by ratings agency Moody's.
The Philippine index was up 0.7 per cent at 6,370.23, at one point hitting 6,378.25, the highest since November 8.
Investors bought large caps battered earlier in the week by concerns over the impact of typhoon Haiyan.
The benchmark is on track to post a weekly gain of 0.3 per cent after the 3.5 per cent drop in the previous week.
Among actively traded shares, Globe Telecom jumped 1.2 per cent, trimming its losses so far this week to 5.3 per cent, while shares of Alliance Global Group rose 1.1 per cent, on track for a week-to-date gain of 1.1 per cent.
Moody's Investor Service said the Philippines' economic fundamentals remained intact despite the onslaught of typhoon Haiyan.
Singapore's Straits Times Index edged up 0.3 per cent, Malaysia's share index gained 0.24 per cent and Thai SET index was up 0.04 per cent. The MSCI's broadest index of Asia-Pacific shares rose 1.3 per cent.
In Bangkok, political concerns prompted quick profit taking.
The SET index was at 1,416.21 at mid-day, coming off a one-week high of 1,427.69 in early trade.
Strategists at broker Phillip Securities expect the SET index to move in a range of 1,400-1,430 during the day.
"Domestic political worries may periodically put pressure on sentiment. In our view, risk-aversion selling on rise may put a cap on the market's upside potential," they wrote in a report.
Vietnam rose 0.4 per cent, boosted by news of a plan proposed to the government to increase foreign investors' voting shares in listed firms.
In Jakarta, cautious investors trimmed holdings in Indonesian shares in response to a tighter monetary policy, sending the key composite index 0.3 per cent lower.
Shares of Bank Mandiri fell 1.3 per cent and shares of Astra International eased 0.8 per cent.
"Indonesian equities now face a distinct policy risk. Whereas the US Federal Reserve is hinting a continuation of its low interest policy, Indonesia has declared a bias for tight monetary policy," said John Rachmat, head of research at Mandiri Sekuritas.
Indonesia's index is poised for a loss of 2.7 per cent on the week after the central bank unexpectedly raised its benchmark reference rate by 25 basis points to 7.50 per cent on Tuesday
The Philippine index was up 0.7 per cent at 6,370.23, at one point hitting 6,378.25, the highest since November 8.
Investors bought large caps battered earlier in the week by concerns over the impact of typhoon Haiyan.
The benchmark is on track to post a weekly gain of 0.3 per cent after the 3.5 per cent drop in the previous week.
Among actively traded shares, Globe Telecom jumped 1.2 per cent, trimming its losses so far this week to 5.3 per cent, while shares of Alliance Global Group rose 1.1 per cent, on track for a week-to-date gain of 1.1 per cent.
Moody's Investor Service said the Philippines' economic fundamentals remained intact despite the onslaught of typhoon Haiyan.
Singapore's Straits Times Index edged up 0.3 per cent, Malaysia's share index gained 0.24 per cent and Thai SET index was up 0.04 per cent. The MSCI's broadest index of Asia-Pacific shares rose 1.3 per cent.
In Bangkok, political concerns prompted quick profit taking.
The SET index was at 1,416.21 at mid-day, coming off a one-week high of 1,427.69 in early trade.
Strategists at broker Phillip Securities expect the SET index to move in a range of 1,400-1,430 during the day.
"Domestic political worries may periodically put pressure on sentiment. In our view, risk-aversion selling on rise may put a cap on the market's upside potential," they wrote in a report.
Vietnam rose 0.4 per cent, boosted by news of a plan proposed to the government to increase foreign investors' voting shares in listed firms.
In Jakarta, cautious investors trimmed holdings in Indonesian shares in response to a tighter monetary policy, sending the key composite index 0.3 per cent lower.
Shares of Bank Mandiri fell 1.3 per cent and shares of Astra International eased 0.8 per cent.
"Indonesian equities now face a distinct policy risk. Whereas the US Federal Reserve is hinting a continuation of its low interest policy, Indonesia has declared a bias for tight monetary policy," said John Rachmat, head of research at Mandiri Sekuritas.
Indonesia's index is poised for a loss of 2.7 per cent on the week after the central bank unexpectedly raised its benchmark reference rate by 25 basis points to 7.50 per cent on Tuesday
2013年11月15日星期五
Palm oil inches up on improving exports
Malaysian palm oil futures inched up on Friday after export data signalled improving demand for the tropical oil, while a possible shortage of competing edible oil supply from the Philippines lifted prices of palm-based substitutes.
Exports of Malaysian palm oil products dropped 4.6 per cent in the first half of November, cargo surveyor Intertek Testing Services said, a slight improvement from shipments in the November 1-10 period which fell a steeper 13 per cent.
"The exports are not so bad. Towards the second half of the month, exports should improve further because China will be buying to replenish their stocks before their Lunar New Year festival in January," said a trader with a foreign commodities brokerage.
By the mid-day break, the benchmark January contract on the Bursa Malaysia Derivatives Exchange had inched up 0.4 per cent to RM2,599 per tonne, on course for its fifth weekly gain in six. Prices moved in a tight range between RM2,571-RM2,599.
Total traded volume stood at 11,519 lots of 25 tonnes each on Thursday, lower than the average 12,500 lots.
Palm oil prices surged this week and is on track to post a weekly gain of 3.6 per cent, fuelled by fears that super typhoon Haiyan had caused severe damage to coconut crops in the Philippines, disrupting coconut oil supply from the world's biggest exporter.
A shortage of the edible oil would channel demand to palm oil-based alternatives such as palm kernel oil, commonly used as a raw material to produce soaps and cosmetics.
Trade volumes however are low with investors staying away from risky bets as they waited for more information on palm oil production. Output in October rose to 1.97 million tonnes and market players are expecting November to produce smaller yields.
"Investors are looking for new leads besides the Philippine issue. They want to see how the export and production situation turns out," the Malaysia-based trader added.
The Malaysian government will also announce its December crude palm oil export tax later Friday. The No.2 producer has kept its export duty at 4.5 per cent since March.
Another cargo surveyor Societe Generale de Surveillance will also release export data for the November 1-15 period late Friday.
Technicals showed that Malaysian palm oil is biased to drop to its Wednesday low of RM2,565 per tonne, as it has not completed correction from the November 1 high of RM2,632, said Reuters market analyst Wang Tao.
In other markets, Brent oil futures held above US$108 a barrel on Friday, heading for its biggest week since early July on expectations the Federal Reserve will stick with its easy money policy for now.
In competing vegetable oil markets, the US soyoil contract for December rose 0.4 per cent in early Asian trade.
Exports of Malaysian palm oil products dropped 4.6 per cent in the first half of November, cargo surveyor Intertek Testing Services said, a slight improvement from shipments in the November 1-10 period which fell a steeper 13 per cent.
"The exports are not so bad. Towards the second half of the month, exports should improve further because China will be buying to replenish their stocks before their Lunar New Year festival in January," said a trader with a foreign commodities brokerage.
By the mid-day break, the benchmark January contract on the Bursa Malaysia Derivatives Exchange had inched up 0.4 per cent to RM2,599 per tonne, on course for its fifth weekly gain in six. Prices moved in a tight range between RM2,571-RM2,599.
Total traded volume stood at 11,519 lots of 25 tonnes each on Thursday, lower than the average 12,500 lots.
Palm oil prices surged this week and is on track to post a weekly gain of 3.6 per cent, fuelled by fears that super typhoon Haiyan had caused severe damage to coconut crops in the Philippines, disrupting coconut oil supply from the world's biggest exporter.
A shortage of the edible oil would channel demand to palm oil-based alternatives such as palm kernel oil, commonly used as a raw material to produce soaps and cosmetics.
Trade volumes however are low with investors staying away from risky bets as they waited for more information on palm oil production. Output in October rose to 1.97 million tonnes and market players are expecting November to produce smaller yields.
"Investors are looking for new leads besides the Philippine issue. They want to see how the export and production situation turns out," the Malaysia-based trader added.
The Malaysian government will also announce its December crude palm oil export tax later Friday. The No.2 producer has kept its export duty at 4.5 per cent since March.
Another cargo surveyor Societe Generale de Surveillance will also release export data for the November 1-15 period late Friday.
Technicals showed that Malaysian palm oil is biased to drop to its Wednesday low of RM2,565 per tonne, as it has not completed correction from the November 1 high of RM2,632, said Reuters market analyst Wang Tao.
In other markets, Brent oil futures held above US$108 a barrel on Friday, heading for its biggest week since early July on expectations the Federal Reserve will stick with its easy money policy for now.
In competing vegetable oil markets, the US soyoil contract for December rose 0.4 per cent in early Asian trade.
Petronas awards RM10b offshore jobs
Petroliam Nasional Bhd (Petronas), Malaysia's state oil firm, has awarded a 13-package, five-year offshore hook-up, commissioning and maintenance services contract worth RM10 billion to six local companies.
The deals, awarded under the Pan Malaysia Integrated Hook-Up and Commissioning and Topside Major Maintenance Contract, mark one of Petronas' largest service contracts currently in place as it seeks to drive and support growth among local companies.
The companies are Kencana HL Sdn Bhd, Dayang Enterprise Sdn Bhd, Petra Resources Sdn Bhd, PBJV Sdn Bhd, Carimin Engineering Services Sdn Bhd and Sigur Ros Sdn Bhd. The deals are for a period of five years starting from 2013, according to Petronas.
"The award of this major contract is Petronas' acknowledgment of the capability of local service providers," said Ramlan A. Malek, Petronas' vice president of Petroleum Management.
The deals, awarded under the Pan Malaysia Integrated Hook-Up and Commissioning and Topside Major Maintenance Contract, mark one of Petronas' largest service contracts currently in place as it seeks to drive and support growth among local companies.
The companies are Kencana HL Sdn Bhd, Dayang Enterprise Sdn Bhd, Petra Resources Sdn Bhd, PBJV Sdn Bhd, Carimin Engineering Services Sdn Bhd and Sigur Ros Sdn Bhd. The deals are for a period of five years starting from 2013, according to Petronas.
"The award of this major contract is Petronas' acknowledgment of the capability of local service providers," said Ramlan A. Malek, Petronas' vice president of Petroleum Management.
November 1-15 palm oil exports fell 4.6pc
Exports of Malaysian palm oil products from November 1 to 15 fell 4.6 per cent to 744,975 tonnes from 781,043 tonnes shipped during October 1 to 15, cargo surveyor Intertek Testing Services said on Friday.
Tin price up US$145 per tonne
On the Kuala Lumpur Tin Market, business was done today at US$22,995 per tonne (ex-smelter), up US$145 per tonne from yesterday, on a turnover of 45 tonnes.
Oil prices rise in Asian trade
SINGAPORE: Oil prices rose in Asian trade Friday, buoyed by hopes the US Federal Reserve will wait longer before scaling back its stimulus programme, analysts said.
New York's main contract, West Texas Intermediate (WTI) for December delivery, was up 46 cents at US$94.22 a barrel in mid-morning trade, while Brent North Sea crude for January gained 14 cents to US$108.42.
Prices tracked gains in Asian equity markets as investors welcomed testimony from Fed chief nominee Janet Yellen at her confirmation hearing in front of the Senate Banking Committee.
In her testimony, Yellen defended the bank's US$85 billion-a-month bond-buying programme, and rejected suggestions that it had generated fresh bubbles in property or stock markets.
Her comments "spurred expectations that any form of tapering would not occur anytime soon", said Vanessa Tan, an investment analyst at Phillip Futures in Singapore.
The upbeat sentiment over a continuation of the easy money policy offset concerns over ballooning US crude stockpiles, indicating soft demand in the world's number one economy.
US inventories rose 2.6 million barrels in the week ended November 8, the US Department of Energy reported on Thursday, representing the eighth consecutive rise.
European benchmark Brent was being supported by uncertainty over Libyan supplies, Tan said.
A Libyan oil official told AFP last week that production outages related to political protests had reduced output to 250,000 barrels a day, from 1.5 million barrels a day before they erupted in July
New York's main contract, West Texas Intermediate (WTI) for December delivery, was up 46 cents at US$94.22 a barrel in mid-morning trade, while Brent North Sea crude for January gained 14 cents to US$108.42.
Prices tracked gains in Asian equity markets as investors welcomed testimony from Fed chief nominee Janet Yellen at her confirmation hearing in front of the Senate Banking Committee.
In her testimony, Yellen defended the bank's US$85 billion-a-month bond-buying programme, and rejected suggestions that it had generated fresh bubbles in property or stock markets.
Her comments "spurred expectations that any form of tapering would not occur anytime soon", said Vanessa Tan, an investment analyst at Phillip Futures in Singapore.
The upbeat sentiment over a continuation of the easy money policy offset concerns over ballooning US crude stockpiles, indicating soft demand in the world's number one economy.
US inventories rose 2.6 million barrels in the week ended November 8, the US Department of Energy reported on Thursday, representing the eighth consecutive rise.
European benchmark Brent was being supported by uncertainty over Libyan supplies, Tan said.
A Libyan oil official told AFP last week that production outages related to political protests had reduced output to 250,000 barrels a day, from 1.5 million barrels a day before they erupted in July
Ringgit gains most in three weeks
Malaysia's ringgit climbed the most in almost three weeks before reports forecast to show the nation's economic growth accelerated and the current-account surplus widened. Government bonds were little changed.
Gross domestic product increased 4.7 per cent in the third quarter from 4.3 per cent in the previous three months, according to the median estimate of 17 economists surveyed by Bloomberg News before official data due at 6pm local time. The ringgit rose for a second day after Federal Reserve chairman nominee Janet Yellen said yesterday she would maintain the record stimulus that has stoked global asset gains and suppressed borrowing costs until the US economy is stronger.
"Risk appetite for Asian currencies is improving because Yellen's statement sends a strong signal that tapering will be on the back burner for a while," said Yeah Kim Leng, chief economist at RAM Holdings Bhd in Kuala Lumpur. "The ringgit's strength will be further supported by the improvement in domestic economic data."
The currency appreciated 0.3 per cent to 3.1951 per dollar as of 9.14am in Kuala Lumpur, the steepest increase since October 28, according to data compiled by Bloomberg. It dropped 0.5 per cent for the week.
One-month implied volatility, a measure of expected moves in the exchange rate used to price options, fell two basis points, or 0.02 percentage point, to 8.73 per cent. The gauge declined 31 basis points this week.
Malaysia's current-account surplus widened to RM10.7 billion in the third quarter from RM2.6 billion in the preceding three months, according to the median forecast of analysts polled by Bloomberg News before data due at 6pm local time today.
The yield on the 3.48 per cent bonds due March 2023 was little changed at 3.89 per cent, according to data compiled by Bloomberg. The rate rose 17 basis points this week.-
Gross domestic product increased 4.7 per cent in the third quarter from 4.3 per cent in the previous three months, according to the median estimate of 17 economists surveyed by Bloomberg News before official data due at 6pm local time. The ringgit rose for a second day after Federal Reserve chairman nominee Janet Yellen said yesterday she would maintain the record stimulus that has stoked global asset gains and suppressed borrowing costs until the US economy is stronger.
"Risk appetite for Asian currencies is improving because Yellen's statement sends a strong signal that tapering will be on the back burner for a while," said Yeah Kim Leng, chief economist at RAM Holdings Bhd in Kuala Lumpur. "The ringgit's strength will be further supported by the improvement in domestic economic data."
The currency appreciated 0.3 per cent to 3.1951 per dollar as of 9.14am in Kuala Lumpur, the steepest increase since October 28, according to data compiled by Bloomberg. It dropped 0.5 per cent for the week.
One-month implied volatility, a measure of expected moves in the exchange rate used to price options, fell two basis points, or 0.02 percentage point, to 8.73 per cent. The gauge declined 31 basis points this week.
Malaysia's current-account surplus widened to RM10.7 billion in the third quarter from RM2.6 billion in the preceding three months, according to the median forecast of analysts polled by Bloomberg News before data due at 6pm local time today.
The yield on the 3.48 per cent bonds due March 2023 was little changed at 3.89 per cent, according to data compiled by Bloomberg. The rate rose 17 basis points this week.-
KLCI futures traded higher
he FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives were traded higher in the early session Friday in tandem with the firmer cash market.
At 9.44am, spot month November 2013 rose 4.5 points to 1,787.5, December 2013 gained 3.0 points to 1,785.5, March 2014 added 2.0 points to 1,784 and June 2014 was 7.5 points higher at 1,786.
Turnover was at 955 lots with open interest totalling 37,806 contracts.
The underlying FBM KLCI was 2.43 points firmer at 1,786.63 after 49 minutes of trading
At 9.44am, spot month November 2013 rose 4.5 points to 1,787.5, December 2013 gained 3.0 points to 1,785.5, March 2014 added 2.0 points to 1,784 and June 2014 was 7.5 points higher at 1,786.
Turnover was at 955 lots with open interest totalling 37,806 contracts.
The underlying FBM KLCI was 2.43 points firmer at 1,786.63 after 49 minutes of trading
KL shares traded firmer in early session
Share prices on Bursa Malaysia were traded firmer in the early session Friday, tracking overnight improvement on Wall Street, dealers said.
Sixteen minutes into the opening, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.7 of a point to 1,784.9.
As at 9am, the FBM KLCI maintained the same level at yesterday's closing at 1,784.2.
HwangDBS Vickers Research said there is another chance for the key FBM KLCI to overcome the immediate resistance line of 1,785 today after the benchmark index pulled back from an intra-day high of 1,790.03 to close at 1,784.20 yesterday.
This follows an overnight rise on Wall Street which saw its leading indices climbing between 0.2 per cent and 0.5 per cent to new record levels amid renewed expectations for the US Federal Reserve to maintain its monetary stimulus programme.
On the scoreboard, the Finance Index improved 12.13 points to 16,483.211, the Plantation Index surged 51.11 points to 8,676.25, while the Industrial Index garnered 6.39 points to 3,065.52.
The FBM Emas Index rose 6.1 points to 12,445.87, the FBMT100 Index added 6.97 points to 12,169.71, the FBM Ace advanced 8.78 points to 5,766.64 and the FBM 70 climbed 17.25 points to 14,259.83.
Advancers overwhelmed decliners 161 to 59, with 1,388 counters unchanged.
Turnover stood at 98.476 million shares worth RM60.184 million.
Among actives, KNM Group gained 3.0 sen to 49.5 sen, AT Systemazation was flat at 17.5 sen, Daya added one sen to 37.5 and Ecofirs edged up 1.5 sen to 21.5.
As for heavyweights, Maybank earned one sen to RM9.71, CIMB shed two sen to RM7.42 and Axiata lost one sen to RM6.83.-
Sixteen minutes into the opening, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.7 of a point to 1,784.9.
As at 9am, the FBM KLCI maintained the same level at yesterday's closing at 1,784.2.
HwangDBS Vickers Research said there is another chance for the key FBM KLCI to overcome the immediate resistance line of 1,785 today after the benchmark index pulled back from an intra-day high of 1,790.03 to close at 1,784.20 yesterday.
This follows an overnight rise on Wall Street which saw its leading indices climbing between 0.2 per cent and 0.5 per cent to new record levels amid renewed expectations for the US Federal Reserve to maintain its monetary stimulus programme.
On the scoreboard, the Finance Index improved 12.13 points to 16,483.211, the Plantation Index surged 51.11 points to 8,676.25, while the Industrial Index garnered 6.39 points to 3,065.52.
The FBM Emas Index rose 6.1 points to 12,445.87, the FBMT100 Index added 6.97 points to 12,169.71, the FBM Ace advanced 8.78 points to 5,766.64 and the FBM 70 climbed 17.25 points to 14,259.83.
Advancers overwhelmed decliners 161 to 59, with 1,388 counters unchanged.
Turnover stood at 98.476 million shares worth RM60.184 million.
Among actives, KNM Group gained 3.0 sen to 49.5 sen, AT Systemazation was flat at 17.5 sen, Daya added one sen to 37.5 and Ecofirs edged up 1.5 sen to 21.5.
As for heavyweights, Maybank earned one sen to RM9.71, CIMB shed two sen to RM7.42 and Axiata lost one sen to RM6.83.-
Short-term rates to remain stable
Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia intervenes to reduce excess liquidity from the financial system.
The central bank estimated today's liquidity at RM24.43 billion in the conventional system and RM4.84 billion in Islamic funds.
The bank will conduct four conventional tenders of two RM1.5 billion, each for seven days and 28 days, respectively, and two RM500 million, each for 14 days and 21 days, respectively.
It will also call for a repo tender of RM400 million for 94 days and conduct three Al-Wadiah tenders of RM400 million for seven days, RM600 million for 14 days and RM250 million for 21 days, respectively.
At 4pm, the bank will undertake a conventional overnight tender of up to RM20 billion and a RM3.7 billion Al-Wadiah overnight tender
The central bank estimated today's liquidity at RM24.43 billion in the conventional system and RM4.84 billion in Islamic funds.
The bank will conduct four conventional tenders of two RM1.5 billion, each for seven days and 28 days, respectively, and two RM500 million, each for 14 days and 21 days, respectively.
It will also call for a repo tender of RM400 million for 94 days and conduct three Al-Wadiah tenders of RM400 million for seven days, RM600 million for 14 days and RM250 million for 21 days, respectively.
At 4pm, the bank will undertake a conventional overnight tender of up to RM20 billion and a RM3.7 billion Al-Wadiah overnight tender
Gold futures open higher
Gold futures contracts rebounded to open higher today, supported by buying interest for the precious metal, dealers said.
As at 9.30am, November 2013 rose one tick to RM132.55 a gramme, with one lot traded, while December 2013 stood at RM132.95 a gramme, with 31 lots traded.
Open interest stood at 755 contracts
As at 9.30am, November 2013 rose one tick to RM132.55 a gramme, with one lot traded, while December 2013 stood at RM132.95 a gramme, with 31 lots traded.
Open interest stood at 755 contracts
Gold down 7 sen as at 9.30am
The physical price of gold as at 9.30am stood at RM127.99 per gramme, down seven sen from RM128.06 at 5pm yesterday.
Ringgit traded higher against US dollar
The ringgit opened higher against the US dollar today, extending yesterday's gains as more investors shift their appetite to Asian currencies, including the local unit, dealers said.
At 9am, the ringgit appreciated against the greenback to 3.1935/1965 from 3.2040/2070 yesterday.
A dealer said the euro was dampened by the weak eurozone data while the Japanese yen slipped after the Finance Minister Taro Aso told a parliamentary committee that Japan must retain the currency intervention as a policy tool.
Against other major currencies, the ringgit was also traded higher.
The local note appreciated against the Singapore dollar to 2.5616/5644 from 2.5683/5712 yesterday and strengthened against the yen to 3.1868/1901 from 3.2255/2102 on Thursday.
Against the British pound, the ringgit emerged stronger to 5.1288/1349 from 5.1360/1424 yesterday and rose to 4.2962/3009 from 4.3107/3157 against the euro.
At 9am, the ringgit appreciated against the greenback to 3.1935/1965 from 3.2040/2070 yesterday.
A dealer said the euro was dampened by the weak eurozone data while the Japanese yen slipped after the Finance Minister Taro Aso told a parliamentary committee that Japan must retain the currency intervention as a policy tool.
Against other major currencies, the ringgit was also traded higher.
The local note appreciated against the Singapore dollar to 2.5616/5644 from 2.5683/5712 yesterday and strengthened against the yen to 3.1868/1901 from 3.2255/2102 on Thursday.
Against the British pound, the ringgit emerged stronger to 5.1288/1349 from 5.1360/1424 yesterday and rose to 4.2962/3009 from 4.3107/3157 against the euro.
FTSE Bursa Malaysia update: 9.30am
At 9.30am today, there were 204 gainers, 106 losers and 224 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,785.26 up 1.06 points, the FBMACE was at
5,769.74 up 11.88 points, and the FBMEmas was at 12,450.42 up 10.65 points.
Turnover was at 182.537 million shares valued at RM118.295 million
The FBM-KLCI was at 1,785.26 up 1.06 points, the FBMACE was at
5,769.74 up 11.88 points, and the FBMEmas was at 12,450.42 up 10.65 points.
Turnover was at 182.537 million shares valued at RM118.295 million
US stocks rise to fresh records
NEW YORK CITY: US stocks on Thursday barrelled to fresh records, shrugging off some disappointing earnings results amid greater confidence the Federal Reserve will wait longer before scaling back its aggressive stimulus program.
The Dow Jones Industrial Average tacked on 54.59 points (0.35 per cent) at 15,876.22. The broad-based SandP 500 rose 8.62 points (0.48 per cent) to 1,790.62, while the tech-rich Nasdaq Composite Index added 7.16 points (0.18 per cent) at 3,972.74.
The gains pushed the Dow and SandP 500 to new all-time records for the second day in a row.
Investors welcomed testimony from Fed Vice Chair Janet Yellen, who has been nominated to lead the central bank, at her confirmation hearing before the Senate Banking Committee.
Yellen defended the Fed's US$85 billion a month bond-buying program and rejected suggestions the program had generated fresh bubbles in property or stock markets.
"It wasn't surprising, but a real feel-good speech," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.
"I think it gave the market confidence that tapering isn't going to happen any time soon."
Dow component Cisco Systems sank 11.0 per cent after company officials warned of slowing investment in China and other key emerging economies.
Chief executive John Chambers of the network-equipment maker reported double-digit order declines in Mexico, India, China, Brazil and Russia.
Wal-Mart Stores, another Dow component, edged 0.2 per cent higher after earnings exceeded expectations by a penny at US$1.14 a share. On the downside, the company trimmed its full-year profit forecast.
Retailer Kohl's fell 8.1 per cent after earnings lagged expectations and the company trimmed its full-year profit forecast from US$4.15-US$4.35 per share to US$4.08-US$4.23 per share. The company forecasts comparable-store sales at best flat or declining up to 2 per cent.
Yoga-attire manufacturer Lululemon Athletica lost 4.1 per cent after Sterne Agee downgraded the stock to "underperform".
The broker cited the company's unresolved search for a new chief executive and recent comments from the company's chairman and founder that some of the company's products "don't work" for some women. Sterne Agee said the comments offended many consumers
The Dow Jones Industrial Average tacked on 54.59 points (0.35 per cent) at 15,876.22. The broad-based SandP 500 rose 8.62 points (0.48 per cent) to 1,790.62, while the tech-rich Nasdaq Composite Index added 7.16 points (0.18 per cent) at 3,972.74.
The gains pushed the Dow and SandP 500 to new all-time records for the second day in a row.
Investors welcomed testimony from Fed Vice Chair Janet Yellen, who has been nominated to lead the central bank, at her confirmation hearing before the Senate Banking Committee.
Yellen defended the Fed's US$85 billion a month bond-buying program and rejected suggestions the program had generated fresh bubbles in property or stock markets.
"It wasn't surprising, but a real feel-good speech," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.
"I think it gave the market confidence that tapering isn't going to happen any time soon."
Dow component Cisco Systems sank 11.0 per cent after company officials warned of slowing investment in China and other key emerging economies.
Chief executive John Chambers of the network-equipment maker reported double-digit order declines in Mexico, India, China, Brazil and Russia.
Wal-Mart Stores, another Dow component, edged 0.2 per cent higher after earnings exceeded expectations by a penny at US$1.14 a share. On the downside, the company trimmed its full-year profit forecast.
Retailer Kohl's fell 8.1 per cent after earnings lagged expectations and the company trimmed its full-year profit forecast from US$4.15-US$4.35 per share to US$4.08-US$4.23 per share. The company forecasts comparable-store sales at best flat or declining up to 2 per cent.
Yoga-attire manufacturer Lululemon Athletica lost 4.1 per cent after Sterne Agee downgraded the stock to "underperform".
The broker cited the company's unresolved search for a new chief executive and recent comments from the company's chairman and founder that some of the company's products "don't work" for some women. Sterne Agee said the comments offended many consumers
US stocks rise to fresh records
NEW YORK CITY: US stocks on Thursday barrelled to fresh records, shrugging off some disappointing earnings results amid greater confidence the Federal Reserve will wait longer before scaling back its aggressive stimulus program.
The Dow Jones Industrial Average tacked on 54.59 points (0.35 per cent) at 15,876.22. The broad-based SandP 500 rose 8.62 points (0.48 per cent) to 1,790.62, while the tech-rich Nasdaq Composite Index added 7.16 points (0.18 per cent) at 3,972.74.
The gains pushed the Dow and SandP 500 to new all-time records for the second day in a row.
Investors welcomed testimony from Fed Vice Chair Janet Yellen, who has been nominated to lead the central bank, at her confirmation hearing before the Senate Banking Committee.
Yellen defended the Fed's US$85 billion a month bond-buying program and rejected suggestions the program had generated fresh bubbles in property or stock markets.
"It wasn't surprising, but a real feel-good speech," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.
"I think it gave the market confidence that tapering isn't going to happen any time soon."
Dow component Cisco Systems sank 11.0 per cent after company officials warned of slowing investment in China and other key emerging economies.
Chief executive John Chambers of the network-equipment maker reported double-digit order declines in Mexico, India, China, Brazil and Russia.
Wal-Mart Stores, another Dow component, edged 0.2 per cent higher after earnings exceeded expectations by a penny at US$1.14 a share. On the downside, the company trimmed its full-year profit forecast.
Retailer Kohl's fell 8.1 per cent after earnings lagged expectations and the company trimmed its full-year profit forecast from US$4.15-US$4.35 per share to US$4.08-US$4.23 per share. The company forecasts comparable-store sales at best flat or declining up to 2 per cent.
Yoga-attire manufacturer Lululemon Athletica lost 4.1 per cent after Sterne Agee downgraded the stock to "underperform".
The broker cited the company's unresolved search for a new chief executive and recent comments from the company's chairman and founder that some of the company's products "don't work" for some women. Sterne Agee said the comments offended many consumers
The Dow Jones Industrial Average tacked on 54.59 points (0.35 per cent) at 15,876.22. The broad-based SandP 500 rose 8.62 points (0.48 per cent) to 1,790.62, while the tech-rich Nasdaq Composite Index added 7.16 points (0.18 per cent) at 3,972.74.
The gains pushed the Dow and SandP 500 to new all-time records for the second day in a row.
Investors welcomed testimony from Fed Vice Chair Janet Yellen, who has been nominated to lead the central bank, at her confirmation hearing before the Senate Banking Committee.
Yellen defended the Fed's US$85 billion a month bond-buying program and rejected suggestions the program had generated fresh bubbles in property or stock markets.
"It wasn't surprising, but a real feel-good speech," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.
"I think it gave the market confidence that tapering isn't going to happen any time soon."
Dow component Cisco Systems sank 11.0 per cent after company officials warned of slowing investment in China and other key emerging economies.
Chief executive John Chambers of the network-equipment maker reported double-digit order declines in Mexico, India, China, Brazil and Russia.
Wal-Mart Stores, another Dow component, edged 0.2 per cent higher after earnings exceeded expectations by a penny at US$1.14 a share. On the downside, the company trimmed its full-year profit forecast.
Retailer Kohl's fell 8.1 per cent after earnings lagged expectations and the company trimmed its full-year profit forecast from US$4.15-US$4.35 per share to US$4.08-US$4.23 per share. The company forecasts comparable-store sales at best flat or declining up to 2 per cent.
Yoga-attire manufacturer Lululemon Athletica lost 4.1 per cent after Sterne Agee downgraded the stock to "underperform".
The broker cited the company's unresolved search for a new chief executive and recent comments from the company's chairman and founder that some of the company's products "don't work" for some women. Sterne Agee said the comments offended many consumers
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