Possible downside:
1) Delay in implementation of MRT line 2
2) Project concentration risk. Currently only 1 single construction job in hand
3) Possible slowdown in property market
4) Hiccup in disposal of SPLASH
Tuesday, 24 February 2015
Disposals of shares/warrants by Gamuda's directors
Disposals of shares/warrants by Gamuda's directors in the past 6 months. Is this a sign that the stock is traded at rich valuation?
Possible downside:
1) Delay in implementation of MRT line 2
2) Project concentration risk. Currently only 1 single construction job in hand
3) Possible slowdown in property market
4) Hiccup in disposal of SPLASH
Possible downside:
1) Delay in implementation of MRT line 2
2) Project concentration risk. Currently only 1 single construction job in hand
3) Possible slowdown in property market
4) Hiccup in disposal of SPLASH
1MDB Trades Like Junk as Investors Weigh Wind-Down: Asean Credit
The Deputy Finance Minister Datuk Chua Tee Yong was either being fooled or fooling us when he said banks’ extension on its loan shows confidence in the 1MDB.
1MDB Trades Like Junk as Investors Weigh Wind-Down: Asean Credit
2015-02-23 16:00:01.0 GMT
(For credit-market columns, click on TOP CM.)
By David Yong
(Bloomberg) -- 1Malaysia Development Bhd.’s bonds are trading like junk as investors seek greater clarity over the state investment fund’s plans to wind down and sell off assets.
Investors are demanding a 439 basis-point premium over similar maturity Treasuries to hold the Kuala Lumpur-based company’s securities, compared with an average of 415 for speculative-grade quasi-sovereign notes in the region, a JPMorgan Chase & Co. index shows. Its $3 billion of 4.4 percent notes due 2023 closed at 86.72 cents on the dollar on Feb. 16, a record low. They traded at 87.62 cents on Monday.
1MDB said last week it won’t undertake any new investments after it sets up separate entities for property projects and raises cash from selling its power business. The group settled a 2 billion ringgit ($550 million) loan Feb. 13, after two repayment deadline extensions sparked concern a default may trigger cross defaults on its some 49 billion ringgit of total debt. The group will need to show progress in asset sales and avoid fire-sale prices to regain market confidence, Phillip Capital Management said.
“The problem is they have a lot of assets that aren’t generating enough cash flow to service their debt,” Ang Kok Heng, the fund manager’s Kuala Lumpur-based chief investment officer, said by phone on Feb. 23. “Going forward, there will be other bonds due for payments or maturity. These could be new pressure points.” Phillip Capital manages 2.3 billion ringgit and doesn’t own 1MDB’s dollar bonds.
Cayman Islands
1MDB’s next two dollar bond coupons are due on March 9 and May 11, according to data compiled by Bloomberg. The company struggled to meet its loan repayment despite redeeming a $2.32
billion Cayman Islands investment.
1MDB’s 2023 bonds are rated A-, four levels above non-investment grade, by Standard & Poor’s, the same score the ratings company gives Malaysia. Weakening public finances and lower oil prices mean Malaysia’s rating may be cut by one level in the first half by Fitch Ratings Ltd., according to ING Groep NV, which says corporate governance concerns at 1MDB may have “some minor influence.”
“The thing about 1MDB is the uncertainty,” Tim Condon, ING’s Singapore-based head of Asia research, said by phone Feb. 18. “Recent loan servicing difficulties have created stress on Malaysian financial assets and further such news could have the same result.”
The Edge newspaper reported on Monday that 1MDB may require a 3 billion ringgit cash injection from the Ministry of Finance, citing people it didn’t identify. As 100 percent owner, the ministry will be involved as required in the interests of maximising shareholder value, 1MDB said in e-mailed statement, adding that it will issue official announcements relating to its business, implementation of a strategic review, and financing arrangements when appropriate.
Cross Default
A default on 1MDB’s loan, and subsequent cross default on its other debt, may have proved damaging to Malaysia’s sovereign rating, given that 1MDB is owned by the ministry, Credit Suisse
Group AG said in a Feb. 9 report.
“1MDB is becoming relevant to fixed income and equity investors alike as they scramble to understand what it is, and what impact it could have on Malaysia’s banking system and sovereign rating,” Stephen Hagger, a Kuala Lumpur-based analyst at the bank, said in the note. “Former Prime Minister Mahathir Mohamad, along with the opposition, repeatedly question the goings on at 1MDB. As a result, it’s becoming highly politically charged.”
‘Letter of Support’
Since 1MDB’s debt repayment concerns surfaced in late October, Malaysia’s ringgit has slumped 9.9 percent to levels not seen since March 2009, Bloomberg data show, making it the region’s worst performing currency over the period. Indonesia’s rupiah has weakened 5.4 percent while the Philippine peso is up 1.5 percent.
The 2023 notes have lost 9.6 percent this year, versus a 0.8 percent gain for investment-grade quasi-sovereign bonds in Asia and a 1 percent increase for the region’s speculative grade dollar corporate debentures, JPMorgan indexes show.
1MDB Global Investments Ltd., the offshore subsidiary that issued the notes, is rated on par with Malaysia because of a “letter of support” from the government, according to S&P. That support is effectively a state guarantee, said Kim Eng Tan, the rating company’s senior director of sovereign ratings.
“Market prices likely reflect the significant uncertainty surrounding the company right now,” Singapore-based Tan said by phone on Feb. 18. “If the issuer doesn’t repay the bonds, we’ll
consider it to have become the direct commercial financial obligation of the Malaysian government. If the Malaysian government doesn’t fulfil this obligation, then we treat it as the government defaulting on its own debt.”
Credit Risk
Prime Minister Najib Razak, who chairs 1MDB’s advisory board, told opposition lawmakers in October that the government wasn’t liable for 1MDB’s debts if the company went bankrupt.
The cost to protect Malaysia’s sovereign debt against nonpayment for five years jumped to 150.5 basis points on Jan. 13, the highest level since August 2013, according to data provider CMA. At 118 basis points on Feb. 20, that shows a 9.6 percent probability the nation will default on its obligations, compared with 7.4 percent for the Philippines and 11.6 percent for Indonesia, which are rated two and four credit scores lower respectively by S&P.
Any fallout resulting from a downgrade in Malaysia’s creditworthiness would present buying opportunities, according to ING’s Condon, who at the moment recommends buying the ringgit and the more liquid Malaysia government bonds instead of 1MDB’s debt. He also suggests selling credit-default swaps on Malaysia after the recent widening relative to contracts on other Asian sovereigns.
1MDB started life as part of the Terengganu Investment Authority, a body created in 2009 to invest oil royalties from the eastern state of Terengganu. When Najib became prime minister that year, it was renamed 1MDB, became a national entity and its funding source was changed to government-backed debt instead of oil income.
“The headlines and price volatility make me a bit worried but as long there’s no change in sovereign support I see value” in the bonds, Mikko Kuisma, a money manager in Helsinki at FIM Asset Management Ltd., which manages about 5.4 billion euros ($6.2 billion) including 1MDB debt, said on Feb. 17. “There could be more transparency.”
1MDB’s borrowings climbed to 41.9 billion ringgit in the year ended March 2014 from 36.2 billion ringgit a year earlier, according to accounts it filed in November. Its power assets were acquired in 2012 and 2013 for 12.5 billion ringgit, Credit Suisse said in its Feb. 9 note.
“1MDB has stated that it intends to list its power assets, but this process appears to have faced numerous setbacks,” Hagger said on Feb. 9. “Investors are concerned.”
1MDB Trades Like Junk as Investors Weigh Wind-Down: Asean Credit
2015-02-23 16:00:01.0 GMT
(For credit-market columns, click on TOP CM.)
By David Yong
(Bloomberg) -- 1Malaysia Development Bhd.’s bonds are trading like junk as investors seek greater clarity over the state investment fund’s plans to wind down and sell off assets.
Investors are demanding a 439 basis-point premium over similar maturity Treasuries to hold the Kuala Lumpur-based company’s securities, compared with an average of 415 for speculative-grade quasi-sovereign notes in the region, a JPMorgan Chase & Co. index shows. Its $3 billion of 4.4 percent notes due 2023 closed at 86.72 cents on the dollar on Feb. 16, a record low. They traded at 87.62 cents on Monday.
1MDB said last week it won’t undertake any new investments after it sets up separate entities for property projects and raises cash from selling its power business. The group settled a 2 billion ringgit ($550 million) loan Feb. 13, after two repayment deadline extensions sparked concern a default may trigger cross defaults on its some 49 billion ringgit of total debt. The group will need to show progress in asset sales and avoid fire-sale prices to regain market confidence, Phillip Capital Management said.
“The problem is they have a lot of assets that aren’t generating enough cash flow to service their debt,” Ang Kok Heng, the fund manager’s Kuala Lumpur-based chief investment officer, said by phone on Feb. 23. “Going forward, there will be other bonds due for payments or maturity. These could be new pressure points.” Phillip Capital manages 2.3 billion ringgit and doesn’t own 1MDB’s dollar bonds.
Cayman Islands
1MDB’s next two dollar bond coupons are due on March 9 and May 11, according to data compiled by Bloomberg. The company struggled to meet its loan repayment despite redeeming a $2.32
billion Cayman Islands investment.
1MDB’s 2023 bonds are rated A-, four levels above non-investment grade, by Standard & Poor’s, the same score the ratings company gives Malaysia. Weakening public finances and lower oil prices mean Malaysia’s rating may be cut by one level in the first half by Fitch Ratings Ltd., according to ING Groep NV, which says corporate governance concerns at 1MDB may have “some minor influence.”
“The thing about 1MDB is the uncertainty,” Tim Condon, ING’s Singapore-based head of Asia research, said by phone Feb. 18. “Recent loan servicing difficulties have created stress on Malaysian financial assets and further such news could have the same result.”
The Edge newspaper reported on Monday that 1MDB may require a 3 billion ringgit cash injection from the Ministry of Finance, citing people it didn’t identify. As 100 percent owner, the ministry will be involved as required in the interests of maximising shareholder value, 1MDB said in e-mailed statement, adding that it will issue official announcements relating to its business, implementation of a strategic review, and financing arrangements when appropriate.
Cross Default
A default on 1MDB’s loan, and subsequent cross default on its other debt, may have proved damaging to Malaysia’s sovereign rating, given that 1MDB is owned by the ministry, Credit Suisse
Group AG said in a Feb. 9 report.
“1MDB is becoming relevant to fixed income and equity investors alike as they scramble to understand what it is, and what impact it could have on Malaysia’s banking system and sovereign rating,” Stephen Hagger, a Kuala Lumpur-based analyst at the bank, said in the note. “Former Prime Minister Mahathir Mohamad, along with the opposition, repeatedly question the goings on at 1MDB. As a result, it’s becoming highly politically charged.”
‘Letter of Support’
Since 1MDB’s debt repayment concerns surfaced in late October, Malaysia’s ringgit has slumped 9.9 percent to levels not seen since March 2009, Bloomberg data show, making it the region’s worst performing currency over the period. Indonesia’s rupiah has weakened 5.4 percent while the Philippine peso is up 1.5 percent.
The 2023 notes have lost 9.6 percent this year, versus a 0.8 percent gain for investment-grade quasi-sovereign bonds in Asia and a 1 percent increase for the region’s speculative grade dollar corporate debentures, JPMorgan indexes show.
1MDB Global Investments Ltd., the offshore subsidiary that issued the notes, is rated on par with Malaysia because of a “letter of support” from the government, according to S&P. That support is effectively a state guarantee, said Kim Eng Tan, the rating company’s senior director of sovereign ratings.
“Market prices likely reflect the significant uncertainty surrounding the company right now,” Singapore-based Tan said by phone on Feb. 18. “If the issuer doesn’t repay the bonds, we’ll
consider it to have become the direct commercial financial obligation of the Malaysian government. If the Malaysian government doesn’t fulfil this obligation, then we treat it as the government defaulting on its own debt.”
Credit Risk
Prime Minister Najib Razak, who chairs 1MDB’s advisory board, told opposition lawmakers in October that the government wasn’t liable for 1MDB’s debts if the company went bankrupt.
The cost to protect Malaysia’s sovereign debt against nonpayment for five years jumped to 150.5 basis points on Jan. 13, the highest level since August 2013, according to data provider CMA. At 118 basis points on Feb. 20, that shows a 9.6 percent probability the nation will default on its obligations, compared with 7.4 percent for the Philippines and 11.6 percent for Indonesia, which are rated two and four credit scores lower respectively by S&P.
Any fallout resulting from a downgrade in Malaysia’s creditworthiness would present buying opportunities, according to ING’s Condon, who at the moment recommends buying the ringgit and the more liquid Malaysia government bonds instead of 1MDB’s debt. He also suggests selling credit-default swaps on Malaysia after the recent widening relative to contracts on other Asian sovereigns.
1MDB started life as part of the Terengganu Investment Authority, a body created in 2009 to invest oil royalties from the eastern state of Terengganu. When Najib became prime minister that year, it was renamed 1MDB, became a national entity and its funding source was changed to government-backed debt instead of oil income.
“The headlines and price volatility make me a bit worried but as long there’s no change in sovereign support I see value” in the bonds, Mikko Kuisma, a money manager in Helsinki at FIM Asset Management Ltd., which manages about 5.4 billion euros ($6.2 billion) including 1MDB debt, said on Feb. 17. “There could be more transparency.”
1MDB’s borrowings climbed to 41.9 billion ringgit in the year ended March 2014 from 36.2 billion ringgit a year earlier, according to accounts it filed in November. Its power assets were acquired in 2012 and 2013 for 12.5 billion ringgit, Credit Suisse said in its Feb. 9 note.
“1MDB has stated that it intends to list its power assets, but this process appears to have faced numerous setbacks,” Hagger said on Feb. 9. “Investors are concerned.”
Saturday, 14 February 2015
Are the Board of Directors in Asia Media performing their duties diligently?
This is what you see in Asia Media quarterly financial reports for 1Q14, 2Q14, 3Q14 and 4Q14 on the prospects of the company (item B3 of the notes to financial report)
"Based on the above and barring any unforeseen circumstances, the Board of Directors is of the opinion that the prospects for the Group for the next quarter will remain favourable due to increasing customers' demand."
How the company performed in the subsequent quarters?
Below is a red flag in the company:
Ang Lay Chieng vs Asia Media Group Berhad and Asia Media Sdn Bhd (Kuala Lumpur High
Court Suit No. : 22NCC-332-09/2014)
The Plaintiff's primary claim against the Company is that there are irregularities in the Statutory Declarations in respect of the Financial Statement of the Company for the financial years ended 31 December 2012 and 31 December 2013 ("Financial Statements") on the ground that her signatures in the said Financial Statements have been forged.
"Based on the above and barring any unforeseen circumstances, the Board of Directors is of the opinion that the prospects for the Group for the next quarter will remain favourable due to increasing customers' demand."
How the company performed in the subsequent quarters?
RM(m)
|
1Q14
|
2Q14
|
3Q14
|
4Q14
|
Revenue
|
6.873
|
4.898
|
4.760
|
4.363
|
PBT
|
0.282
|
-1.999
|
-2.363
|
-14.995
|
PATAMI
|
0.327
|
-1.997
|
-2.362
|
-16.32
|
Favourable? The PATAMI has been dropping quarter on quarter since 2Q14. Increasing customers' demamd? Revenue has been declining quarter on quarter as well since 2Q14.
The statements on the company's prospects were misleading and this raises the question whether the board members, especially the independent directors are performing their duties diligently?
The statements on the company's prospects were misleading and this raises the question whether the board members, especially the independent directors are performing their duties diligently?
Below is a red flag in the company:
Ang Lay Chieng vs Asia Media Group Berhad and Asia Media Sdn Bhd (Kuala Lumpur High
Court Suit No. : 22NCC-332-09/2014)
The Plaintiff's primary claim against the Company is that there are irregularities in the Statutory Declarations in respect of the Financial Statement of the Company for the financial years ended 31 December 2012 and 31 December 2013 ("Financial Statements") on the ground that her signatures in the said Financial Statements have been forged.
Wednesday, 11 February 2015
US, EU, UK, Australia and Canada concerned with Anwar’s sodomy verdict
The is the least I can do for my country and the people. Below are the official statements by the governments of US, EU, UK, Australia and Canada on the verdict.
You can click here to be directed to US White House website to sign the petition to make the release of Malaysian Opposition Leader Anwar Ibrahim from prison a top priority for US policy toward Malaysia.
US
“The United States is deeply disappointed with Mr Anwar’s conviction following a government appeal of the original verdict finding him not guilty,” said Bernadette Meehan, a spokesperson of the US National Security Council. “The decision to prosecute Mr Anwar and the conduct of his trial have raised a number of serious concerns about rule of law and the fairness of the judicial system in Malaysia.” “These concerns are compounded by the government’s intent to expand its sedition law, which Prime Minister (Datuk Seri) Najib Razak had pledged to repeal, to prosecute government critics.”
Source, Source
EU
"The conviction and sentencing of opposition leader Anwar Ibrahim raises serious questions regarding due process of law. The European Union regards Malaysia as a key political and economic partner in South East Asia. In that spirit of partnership, the EU wishes to underscore that trust in the administration of justice is an essential component of the democratic process."
Source
UK
“His case raises worrying questions about the independence of the judiciary and rule of law in Malaysia. As such, we have consistently raised our concerns with the Malaysian government,” said the UK's Minister for Asia, Hugo Swire.
Source
Australia
Julie Bishop issues strongly worded statement as Nick Xenophon calls for sanctions against Malaysia after opposition leader’s sodomy conviction upheld. Australia is “deeply concerned” that the conviction of the Malaysian opposition leader Anwar Ibrahim for sodomy has been upheld, the foreign affairs minister, Julie Bishop, has said, as the independent senator Nick Xenophon called for sanctions against Malaysia.In a firmly worded statement, Bishop said Australia was “disappointed” by the court’s decision to dismiss Anwar’s final appeal against the sodomy charge.“We are deeply concerned by the severity of the sentence and we have made our concerns known to the Malaysian government.” “As a friend of Malaysia, Australia encourages the Malaysian government to consider the impact of recent decisions, including the Anwar verdict and the retention of the Sedition Act, on its international standing and its commitment to human rights.”
Meanwhile, South Australian Independent senator Nick Xenophon was quoted as saying that the decision was “a travesty of justice”.
Source, Source
Canada
“The conviction of Anwar Ibrahim is of deep concern to Canada. It raises serious questions about judicial independence and selective prosecutions in Malaysia. The rule of law is a core value and principle vital to the flourishing of democracy and the institutions of a peaceful and prosperous society. Mr. Anwar’s conviction also comes at a time when Canada and other countries have conveyed concerns regarding selective prosecutions in Malaysia, including under the Sedition Act. Canada values its long-standing and warm relationship with Malaysia, and we will continue to encourage Malaysia to apply the rule of law in a transparent and fair manner.”
Source
You can click here to be directed to US White House website to sign the petition to make the release of Malaysian Opposition Leader Anwar Ibrahim from prison a top priority for US policy toward Malaysia.
US
“The United States is deeply disappointed with Mr Anwar’s conviction following a government appeal of the original verdict finding him not guilty,” said Bernadette Meehan, a spokesperson of the US National Security Council. “The decision to prosecute Mr Anwar and the conduct of his trial have raised a number of serious concerns about rule of law and the fairness of the judicial system in Malaysia.” “These concerns are compounded by the government’s intent to expand its sedition law, which Prime Minister (Datuk Seri) Najib Razak had pledged to repeal, to prosecute government critics.”
Source, Source
EU
"The conviction and sentencing of opposition leader Anwar Ibrahim raises serious questions regarding due process of law. The European Union regards Malaysia as a key political and economic partner in South East Asia. In that spirit of partnership, the EU wishes to underscore that trust in the administration of justice is an essential component of the democratic process."
Source
UK
“His case raises worrying questions about the independence of the judiciary and rule of law in Malaysia. As such, we have consistently raised our concerns with the Malaysian government,” said the UK's Minister for Asia, Hugo Swire.
Source
Australia
Julie Bishop issues strongly worded statement as Nick Xenophon calls for sanctions against Malaysia after opposition leader’s sodomy conviction upheld. Australia is “deeply concerned” that the conviction of the Malaysian opposition leader Anwar Ibrahim for sodomy has been upheld, the foreign affairs minister, Julie Bishop, has said, as the independent senator Nick Xenophon called for sanctions against Malaysia.In a firmly worded statement, Bishop said Australia was “disappointed” by the court’s decision to dismiss Anwar’s final appeal against the sodomy charge.“We are deeply concerned by the severity of the sentence and we have made our concerns known to the Malaysian government.” “As a friend of Malaysia, Australia encourages the Malaysian government to consider the impact of recent decisions, including the Anwar verdict and the retention of the Sedition Act, on its international standing and its commitment to human rights.”
Meanwhile, South Australian Independent senator Nick Xenophon was quoted as saying that the decision was “a travesty of justice”.
Source, Source
Canada
“The conviction of Anwar Ibrahim is of deep concern to Canada. It raises serious questions about judicial independence and selective prosecutions in Malaysia. The rule of law is a core value and principle vital to the flourishing of democracy and the institutions of a peaceful and prosperous society. Mr. Anwar’s conviction also comes at a time when Canada and other countries have conveyed concerns regarding selective prosecutions in Malaysia, including under the Sedition Act. Canada values its long-standing and warm relationship with Malaysia, and we will continue to encourage Malaysia to apply the rule of law in a transparent and fair manner.”
Source
Monday, 9 February 2015
IQ Group
IQ Group
- in the right industry, smart LED lighting
- net cash with zero borrowings
- good management (I think)
- new products under own brand, potential top line growth and margin expansion
- resume dividend payment
- traded at reasonable PE ratio
IQ upbeat on new brandname
GEORGE TOWN: IQ Group Holdings Bhd sees its Lumiqs’ brand becoming a significant contributor to the group’s revenue in the next two to three years.
At present, IQ’s light-emitting diode (LED) products that carry namesake brandname contribute only 1% to the group’s revenue.
Group chief executive officer Daniel Beasley told StarBiz that the group was now positioning for the Lumiqs brand to be distributed worldwide via IQ’s own sales team and through newly appointed distributors.
He said IQ’s first intelligent lighting solutions under the Lumiqs brand would be out in the market by the end of February 2015.
“We are building new distribution channels for the markets in Singapore, Thailand, Indonesia, Malaysia, Europe, North America and the Middle-East.
“We plan to launch the product in Japan and the United Kingdom respectively in March and July through our own marketing arm.
“With our own brandname, we can introduce higher range of intelligent lighting solutions that can generate better margins.
“We will also be able to sell directly to the end-users and avoid being squeezed on margins,” Beasley said.
The Lumiqs LED lighting solutions enable users to save up to 90% of energy, as the solutions, equipped with wireless transceivers, can be programmed to grow dimmer or brighter according to the movement of people in an area.
“We are now investing to develop intelligent lighting solutions for the consumer market,” Beasley said.
IQ expects to close its 2015 fiscal year, which ends on March 31, with a double-digit percentage growth in its net profit over last year.
“For the nine months ending in December, the group shipped out RM48mil worth of led lighting products globally, which is more than the RM46mil we shipped out for the whole of 2014,” he said.
- in the right industry, smart LED lighting
- net cash with zero borrowings
- good management (I think)
- new products under own brand, potential top line growth and margin expansion
- resume dividend payment
- traded at reasonable PE ratio
IQ upbeat on new brandname
GEORGE TOWN: IQ Group Holdings Bhd sees its Lumiqs’ brand becoming a significant contributor to the group’s revenue in the next two to three years.
At present, IQ’s light-emitting diode (LED) products that carry namesake brandname contribute only 1% to the group’s revenue.
Group chief executive officer Daniel Beasley told StarBiz that the group was now positioning for the Lumiqs brand to be distributed worldwide via IQ’s own sales team and through newly appointed distributors.
He said IQ’s first intelligent lighting solutions under the Lumiqs brand would be out in the market by the end of February 2015.
“We are building new distribution channels for the markets in Singapore, Thailand, Indonesia, Malaysia, Europe, North America and the Middle-East.
“We plan to launch the product in Japan and the United Kingdom respectively in March and July through our own marketing arm.
“With our own brandname, we can introduce higher range of intelligent lighting solutions that can generate better margins.
“We will also be able to sell directly to the end-users and avoid being squeezed on margins,” Beasley said.
The Lumiqs LED lighting solutions enable users to save up to 90% of energy, as the solutions, equipped with wireless transceivers, can be programmed to grow dimmer or brighter according to the movement of people in an area.
“We are now investing to develop intelligent lighting solutions for the consumer market,” Beasley said.
IQ expects to close its 2015 fiscal year, which ends on March 31, with a double-digit percentage growth in its net profit over last year.
“For the nine months ending in December, the group shipped out RM48mil worth of led lighting products globally, which is more than the RM46mil we shipped out for the whole of 2014,” he said.
Sunday, 1 February 2015
Datuk Chan Kong-Sang or Datuk Chan Song Kang?
http://clips.thestar.com.my.s3.amazonaws.com/img/SENARAI-NAMA-penerima-dkbpwp-2015.pdf
According to Wikipedia, "Jackie Chan, SBS, MBE (born Chan Kong-sang, 陳港生; 7 April 1954)is a Hong Kong actor, director, and producer."
Source: http://en.wikipedia.org/wiki/Jackie_Chan
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