9 Safar 1433
KUALA LUMPUR, Jan 3 , 2012- Hong Leong Investment Bank (HLIB) is maintaining a "hold" call on Telekom Malaysia Bhd (TM), with an unchanged target price of RM4.54 per share, given the recent price rally.
"The stock is likely to continue attracting investors due to its defensive nature amid strong swings in global equity markets," said HLIB in a research note today.
The research firm said the nation's largest integrated solutions provider has budgeted between RM2.7 billion and RM3 billion in capital expenditure (CAPEX) for this year as it continued to roll out high speed broadband (HSBB) access to more areas.
Source- BERNAMA
Tuesday, January 3, 2012
Monday, January 2, 2012
Fahim To Develop Halal Integrity Management System In Ningxia Muslim Region
8 Safar 1433
From Ng Che Yean(Bernama)
YINCHUAN, Jan 2, 2012- Fahim Technologies Sdn Bhd, a Malaysian company, is expanding its halal integrity management solution service to Ningxia, north-west China's Muslim autonomous region.
Executive Chairman Datuk Ibrahim Ahmad Badawi, of Ibrahim Holdings Bhd, the parent company of Fahim Technologies, said Fahim worked together with the Ningxia provincial government to develop Ningxia as the first hub for its halal integrity management solution in China via a joint-venture company, Ningxia Fahim International Halal Industry Co Ltd.
He said the Chinese authorities need to address the people's misperception about food products safety in China, while China's central government thinks that Ningxia should take the lead in the halal industry.
The Halal integrity management solution could help build up credibility and confidence in safety and quality of food products in China, he said.
"Food safety is a critical issue for China," he told BERNAMA.
Ibrahim said the Ningxia Hui Autonomous government was excited over Fahim's introduction of the solution and it was keen to cooperate with the company to develop the system.
He said the joint-venture entity comprising Ningxia Fahim International Halal Industry, Fahim Technologies and Ningxia Autonomous Region government-owned Ningxia Comprehensive Agricultural Investment Co Ltd was established specially to develop products for the Muslim market.
Malaysia's former Prime Minister Tun Abdullah Ahmad Badawi attended the joint-venture company's launch.
"Our target is not only Muslims but also non-Muslims. I was told by some Chinese people that they preferred halal food products to allay food safety concerns as halal in Chinese literally means pure and good," he said.
Halal integrity management solution is an integrated monitoring system which can track halal products inflow from the source to end-users (farm to fork) throughout the entire value chain and monitor halal status of products to ensure safety and product quality.
The system was developed by an IBM team in Melbourne and sponsored by Fahim Technologies over the past three years.
Ibrahim said Ningxia would be the first hub to apply Fahim's Halal integrity solution and would expand to other provinces and to global level with strong support from its partner, IBM.
"Where there is an IBM branch, there is potential to be the next hub, and eventually the solution will go global," he said.
Fahim Technologies, Ningxia Fahim International and IBM China Company Limited signed a memorandum of understanding on Dec 29 to cooperate in the halal products safety control system.
Currently, about 85 per cent of the raw materials for halal food products in Malaysia were imported from countries like New Zealand, Australia and india, but Malaysia can be the leader in halal management system by providing solutions and experience to help other countries and companies develop their food safety management, he added.
Ningxia Fahim is the company's second joint-venture company in a foreign country. The firm has formed a 50:50 joint venture in Jordan.
Source- BERNAMA
From Ng Che Yean(Bernama)
YINCHUAN, Jan 2, 2012- Fahim Technologies Sdn Bhd, a Malaysian company, is expanding its halal integrity management solution service to Ningxia, north-west China's Muslim autonomous region.
Executive Chairman Datuk Ibrahim Ahmad Badawi, of Ibrahim Holdings Bhd, the parent company of Fahim Technologies, said Fahim worked together with the Ningxia provincial government to develop Ningxia as the first hub for its halal integrity management solution in China via a joint-venture company, Ningxia Fahim International Halal Industry Co Ltd.
He said the Chinese authorities need to address the people's misperception about food products safety in China, while China's central government thinks that Ningxia should take the lead in the halal industry.
The Halal integrity management solution could help build up credibility and confidence in safety and quality of food products in China, he said.
"Food safety is a critical issue for China," he told BERNAMA.
Ibrahim said the Ningxia Hui Autonomous government was excited over Fahim's introduction of the solution and it was keen to cooperate with the company to develop the system.
He said the joint-venture entity comprising Ningxia Fahim International Halal Industry, Fahim Technologies and Ningxia Autonomous Region government-owned Ningxia Comprehensive Agricultural Investment Co Ltd was established specially to develop products for the Muslim market.
Malaysia's former Prime Minister Tun Abdullah Ahmad Badawi attended the joint-venture company's launch.
"Our target is not only Muslims but also non-Muslims. I was told by some Chinese people that they preferred halal food products to allay food safety concerns as halal in Chinese literally means pure and good," he said.
Halal integrity management solution is an integrated monitoring system which can track halal products inflow from the source to end-users (farm to fork) throughout the entire value chain and monitor halal status of products to ensure safety and product quality.
The system was developed by an IBM team in Melbourne and sponsored by Fahim Technologies over the past three years.
Ibrahim said Ningxia would be the first hub to apply Fahim's Halal integrity solution and would expand to other provinces and to global level with strong support from its partner, IBM.
"Where there is an IBM branch, there is potential to be the next hub, and eventually the solution will go global," he said.
Fahim Technologies, Ningxia Fahim International and IBM China Company Limited signed a memorandum of understanding on Dec 29 to cooperate in the halal products safety control system.
Currently, about 85 per cent of the raw materials for halal food products in Malaysia were imported from countries like New Zealand, Australia and india, but Malaysia can be the leader in halal management system by providing solutions and experience to help other countries and companies develop their food safety management, he added.
Ningxia Fahim is the company's second joint-venture company in a foreign country. The firm has formed a 50:50 joint venture in Jordan.
Source- BERNAMA
Friday, December 30, 2011
Petrovietnam Produces 30 Per Cent Above Target
4 Safar 1433
HANOI, Dec 30,2011 - The Vietnam National Oil and Gas Group (PetroVietnam) produced 15 million tonnes of crude oil this year, 30 percent higher than production targets set earlier this year, Vietnam News Agency (VNA) reported.
The group exceeded the target despite lower output from some oil fields, which was compensated by technical innovations, which raised the extraction ratio up to 52 percent.
In the second half of the year, PetroVietnam has also begun tapping into two new oil fields and has increased oil production abroad.
Higher production has also helped the group realise its financial plan for the whole year, with total revenue of 672 trillion VND (US$32 billion), of which 170 trillion VND (US$2.8 billion) went into the State budget.
These figures indicate the group's income will account for half of the country's total income.
In terms of payment to the State, the group will constitute around 70 percent of corporate and group contributions.
PetroVietnam General Director Do Van Hau said the Government had assigned the group to produce 15.8 million tonnes of oil and 9 billion cu.m of gas in 2012.
Source- BERNAMA
HANOI, Dec 30,2011 - The Vietnam National Oil and Gas Group (PetroVietnam) produced 15 million tonnes of crude oil this year, 30 percent higher than production targets set earlier this year, Vietnam News Agency (VNA) reported.
The group exceeded the target despite lower output from some oil fields, which was compensated by technical innovations, which raised the extraction ratio up to 52 percent.
In the second half of the year, PetroVietnam has also begun tapping into two new oil fields and has increased oil production abroad.
Higher production has also helped the group realise its financial plan for the whole year, with total revenue of 672 trillion VND (US$32 billion), of which 170 trillion VND (US$2.8 billion) went into the State budget.
These figures indicate the group's income will account for half of the country's total income.
In terms of payment to the State, the group will constitute around 70 percent of corporate and group contributions.
PetroVietnam General Director Do Van Hau said the Government had assigned the group to produce 15.8 million tonnes of oil and 9 billion cu.m of gas in 2012.
Source- BERNAMA
Vietnam Moves Towards Cashless Society
4 Safar 1433
HANOI, Dec 30, 2011- Cash payments will make up less than 11 percent of all transactions in Vietnam by the end of 2015, down from the current 14 percent, according to a Government plan approved by Prime Minister Nguyen Tan Dung earlier this week.
The plan also targets to double the number of people with bank accounts to 40 percent of the population in the next four years, Vietnam News Agency (VNA) reported.
Cash payments constitute a global average of only 5-7 percent of transactions and the rate is even lower for the neighbouring economy of China, with 3-4 percent.
The world's leading non-cash payment market is the US, followed by the eurozone, while the developing economies are far behind, according to the World Payment's Report 2011.
The Government 2011-15 non-cash payment development plan was drafted by the State Bank of Vietnam with the aim of reducing cash-related costs and improving the efficiency of the country's banking system and State management.
Luc said non-cash payments (bank transfers, Internet banking, credit or debit cards) reduced cash-related risk from theft or fires, among other things.
Meanwhile, although the World Payment's Report stated that the global use of cash payments was endemic, especially for low-value retail transactions, it said cash was "costly to distribute, manage, handle and process" and that non-cash-payment growth would lower costs for banks and for the whole economic system.
Card payments services (credit and debit) will be the focus of Vietnam's 2011-15 payments reform and the country expects to have some 250,000 points of sale (POS) which accept some 200 million card payments a year by 2015.
Continuing the expansion of wage payments to bank accounts in State-owned enterprises and organisations, the Government will also encourage non-cash payments to pay for utility bills.
Source- BERNAMA
HANOI, Dec 30, 2011- Cash payments will make up less than 11 percent of all transactions in Vietnam by the end of 2015, down from the current 14 percent, according to a Government plan approved by Prime Minister Nguyen Tan Dung earlier this week.
The plan also targets to double the number of people with bank accounts to 40 percent of the population in the next four years, Vietnam News Agency (VNA) reported.
Cash payments constitute a global average of only 5-7 percent of transactions and the rate is even lower for the neighbouring economy of China, with 3-4 percent.
The world's leading non-cash payment market is the US, followed by the eurozone, while the developing economies are far behind, according to the World Payment's Report 2011.
The Government 2011-15 non-cash payment development plan was drafted by the State Bank of Vietnam with the aim of reducing cash-related costs and improving the efficiency of the country's banking system and State management.
Luc said non-cash payments (bank transfers, Internet banking, credit or debit cards) reduced cash-related risk from theft or fires, among other things.
Meanwhile, although the World Payment's Report stated that the global use of cash payments was endemic, especially for low-value retail transactions, it said cash was "costly to distribute, manage, handle and process" and that non-cash-payment growth would lower costs for banks and for the whole economic system.
Card payments services (credit and debit) will be the focus of Vietnam's 2011-15 payments reform and the country expects to have some 250,000 points of sale (POS) which accept some 200 million card payments a year by 2015.
Continuing the expansion of wage payments to bank accounts in State-owned enterprises and organisations, the Government will also encourage non-cash payments to pay for utility bills.
Source- BERNAMA
Wednesday, December 28, 2011
OSK 'Buy' Calls On TM, Axiata
4 Safar 1433
KUALA LUMPUR, Dec 29 ,2011 - OSK Research Sdn Bhd has maintained a 'buy' call on Axiata Group Bhd with a target price of RM5.60.
In a research statement Thursday, OSK said in the face of global economic uncertainties, the Axiata management has undertaken good strategic initiatives to keep operating cost lean.
"Axiata is also promoting sharing of infrastructure on the back of accelerating data usage, and it remains as an inexpensive regional mobile exposure," it said.
OSK said a major re-rating catalyst would come from a higher dividend payout.
Meanwhile, the research firm has rated Telekom Malaysia Bhd (TM) a 'buy' with target price of RM5.15.
It said TM's core earnings were expected to pick up in financial year 2012 as Unifi's footprint expanded to 1.3 million premises.
"We also gather from TM that Unifi's base rose above 200,000 at end-November 2011, beating the management's own expectations and our estimate," it said.
OSK said TM would also benefit from the ramp-up in wholesale contribution following the inking of High-Speed Broadband wholesale agreements with Maxis and P1 this year.
It said the stock remained one of its top picks for exposure to the telecommunications sector.
"Its foreign shareholding level rose 19 per cent at end-October, a level last seen in 2008, reflecting renewed optimism on the stock," it said.
Source- BERNAMA
KUALA LUMPUR, Dec 29 ,2011 - OSK Research Sdn Bhd has maintained a 'buy' call on Axiata Group Bhd with a target price of RM5.60.
In a research statement Thursday, OSK said in the face of global economic uncertainties, the Axiata management has undertaken good strategic initiatives to keep operating cost lean.
"Axiata is also promoting sharing of infrastructure on the back of accelerating data usage, and it remains as an inexpensive regional mobile exposure," it said.
OSK said a major re-rating catalyst would come from a higher dividend payout.
Meanwhile, the research firm has rated Telekom Malaysia Bhd (TM) a 'buy' with target price of RM5.15.
It said TM's core earnings were expected to pick up in financial year 2012 as Unifi's footprint expanded to 1.3 million premises.
"We also gather from TM that Unifi's base rose above 200,000 at end-November 2011, beating the management's own expectations and our estimate," it said.
OSK said TM would also benefit from the ramp-up in wholesale contribution following the inking of High-Speed Broadband wholesale agreements with Maxis and P1 this year.
It said the stock remained one of its top picks for exposure to the telecommunications sector.
"Its foreign shareholding level rose 19 per cent at end-October, a level last seen in 2008, reflecting renewed optimism on the stock," it said.
Source- BERNAMA
Strong Domestic Demand To Fuel Malaysia's 2012 Growth: Analysts
4 Safar 1433
By Nor Baizura Basri(Bernama)
KUALA LUMPUR, Dec 29, 2011- Malaysia's economy could face bigger challenges next year due to the adverse effects of the global economic slowdown but continuous domestic investment, coupled with strong domestic demand, are expected to lend support to the country's growth, analysts said.
Apart from that, spill-over effects from the implementation of the Economic Transformation Programme (ETP) entry point projects would also drive the country into a growth trajectory, they said.
RAM Holdings Bhd group chief economist Dr Yeah Kim Leng said domestic demand-led growth and increased regional trade and investment would be among the key areas that would help generate growth for the Asian country.
"In the case of Malaysia next year, we do expect, although we think that there will be some knock-on effects as a result of a slower external demand, I think the momentum generated by our rising private consumption and domestic investments can help insulate the economy from the adverse effects of the global slowdown," he told Bernama in an interview recently.
Since 2001, the greater shift towards domestic-led demand and gradual shift away from the G3 market (the United States, Europe and Japan) towards intra-regional demand for export, have helped Malaysia to reduce its dependency on the advanced economies, he said.
Yeah said the country's export to the U.S. currently accounts for about eight to nine per cent of total exports while export to Asian countries accounted for slightly more than 50 per cent.
"As a result of this shift in the economy, I think Malaysia now is slightly more resilient to the impending or looming slowdown of the global economy," he added.
According to Moody's Analytics, Malaysia, as well as other commodity producers like Indonesia, Australia and New Zealand, fared better this year in terms of domestic economic growth due to continued demand for agricultural products and industrial metals.
Despite Asia being the focus of global growth this year, inflation remained the main challenge in the first half of 2011 as central banks continued monetary tightening, before a regional slowdown prompted a shift toward policy easing in the second half, said the international credit rating agency.
Meanwhile, Asia was reportedly to increase its share of the world's gross domestic product (GDP) from the current 25 per cent to 35 per cent by 2020 while G3's share will likely fall from 48 per cent to 38 per cent.
On the local front, Prime Minister Datuk Seri Najib Tun Razak recently said the country would maintain a projection of five per cent growth for the economy this year and next year barring "something catastrophic".
In the third quarter of this year, Malaysia's economy expanded 5.8 per cent compared with 5.3 per cent recorded in the same quarter last year, due to stronger domestic demand.
"We are entering the crisis in a position that is slightly better than most countries largely because we have full employment and are still experiencing jobs growth and fairly stable income growth," Yeah said.
He said what is important is that our banks and financial system are in a relatively healthier position to ensure lending can continue as in 2009, and despite the global crisis, these banks' loans growth only reduced by half, from nine to 10 per cent to five to six per cent.
"That continuous credit flow is another important aspect supporting the economic growth. Without lending or credit flows, the economy will be in an even much worse position," he said.
Yeah said even though it will be a challenging environment for Malaysia, the strong fundamentals are there with Malaysian companies with relatively strong balance sheets, a healthy banking system and continuous household nominal income growth.
On the global front, the European economies would continue to be weaker and fragile next year and may take at least a decade to recover given the size of their debt, he said.
On the country's growth projection, Yeah said they are confident of achieving above five per cent growth for the last quarter and five per cent growth for the year overall.
"We are still uncertain as to how big the shock is, the magnitude as well as the duration of the shock which is oncoming.
"At this juncture, we are maintaining our forecast of 5.2 per cent for 2012 until the next review, which is next month," he said.
He said in the worst case scenario, factoring in export shock or a reduction of export by 10 per cent, at least two percentage points would be shaved from the GDP.
Source- BERNAMA
By Nor Baizura Basri(Bernama)
KUALA LUMPUR, Dec 29, 2011- Malaysia's economy could face bigger challenges next year due to the adverse effects of the global economic slowdown but continuous domestic investment, coupled with strong domestic demand, are expected to lend support to the country's growth, analysts said.
Apart from that, spill-over effects from the implementation of the Economic Transformation Programme (ETP) entry point projects would also drive the country into a growth trajectory, they said.
RAM Holdings Bhd group chief economist Dr Yeah Kim Leng said domestic demand-led growth and increased regional trade and investment would be among the key areas that would help generate growth for the Asian country.
"In the case of Malaysia next year, we do expect, although we think that there will be some knock-on effects as a result of a slower external demand, I think the momentum generated by our rising private consumption and domestic investments can help insulate the economy from the adverse effects of the global slowdown," he told Bernama in an interview recently.
Since 2001, the greater shift towards domestic-led demand and gradual shift away from the G3 market (the United States, Europe and Japan) towards intra-regional demand for export, have helped Malaysia to reduce its dependency on the advanced economies, he said.
Yeah said the country's export to the U.S. currently accounts for about eight to nine per cent of total exports while export to Asian countries accounted for slightly more than 50 per cent.
"As a result of this shift in the economy, I think Malaysia now is slightly more resilient to the impending or looming slowdown of the global economy," he added.
According to Moody's Analytics, Malaysia, as well as other commodity producers like Indonesia, Australia and New Zealand, fared better this year in terms of domestic economic growth due to continued demand for agricultural products and industrial metals.
Despite Asia being the focus of global growth this year, inflation remained the main challenge in the first half of 2011 as central banks continued monetary tightening, before a regional slowdown prompted a shift toward policy easing in the second half, said the international credit rating agency.
Meanwhile, Asia was reportedly to increase its share of the world's gross domestic product (GDP) from the current 25 per cent to 35 per cent by 2020 while G3's share will likely fall from 48 per cent to 38 per cent.
On the local front, Prime Minister Datuk Seri Najib Tun Razak recently said the country would maintain a projection of five per cent growth for the economy this year and next year barring "something catastrophic".
In the third quarter of this year, Malaysia's economy expanded 5.8 per cent compared with 5.3 per cent recorded in the same quarter last year, due to stronger domestic demand.
"We are entering the crisis in a position that is slightly better than most countries largely because we have full employment and are still experiencing jobs growth and fairly stable income growth," Yeah said.
He said what is important is that our banks and financial system are in a relatively healthier position to ensure lending can continue as in 2009, and despite the global crisis, these banks' loans growth only reduced by half, from nine to 10 per cent to five to six per cent.
"That continuous credit flow is another important aspect supporting the economic growth. Without lending or credit flows, the economy will be in an even much worse position," he said.
Yeah said even though it will be a challenging environment for Malaysia, the strong fundamentals are there with Malaysian companies with relatively strong balance sheets, a healthy banking system and continuous household nominal income growth.
On the global front, the European economies would continue to be weaker and fragile next year and may take at least a decade to recover given the size of their debt, he said.
On the country's growth projection, Yeah said they are confident of achieving above five per cent growth for the last quarter and five per cent growth for the year overall.
"We are still uncertain as to how big the shock is, the magnitude as well as the duration of the shock which is oncoming.
"At this juncture, we are maintaining our forecast of 5.2 per cent for 2012 until the next review, which is next month," he said.
He said in the worst case scenario, factoring in export shock or a reduction of export by 10 per cent, at least two percentage points would be shaved from the GDP.
Source- BERNAMA
Monday, December 26, 2011
Malaysia's Attractiveness As Destination For Foreign Investment Grows
2 Safar 1433
By Manik Mehta
NEW YORK, Dec 27 , 2011 - Malaysia's attractiveness as a destination for foreign direct investment (FDI) has considerably improved in 2011, according to the latest evaluation released by management consultant, A.T. Kearney.
Although the study, known as "The 2011 Foreign Direct Investment Confidence Index List", is dominated by three economies - China, India and Brazil, Malaysia made a significant upward climb from its 21st ranking to 10th by the year-end.
Other Southeast Asian countries which improved their ratings were Singapore at 7 up from 24 and Indonesia at 9 from 20.
But, clearly, the winners were China, India and Brazil which even surpassed the United States in terms of attractiveness as a FDI destination, according to A.T. Kearney.
Nearly half of those surveyed saw a more positive outlook for Brazil (46 per cent) than in 2010. More than one third saw improvements for both India (37 per cent) and China (34 per cent).
China maintained its number one position in the Index.
Investors are looking to capitalise on the country's growing consumer market and service industry, as well as, its move up the value chain in the technology sector.
India also advanced in the standings, assuming the United States' former position, second place.
"Given its strong growth and huge market potential, India should see a sustainable rebound if it can continue to reassure investors that it is committed to its current reform path," a senior executive at A.T. Kearney observed.
Brazil is also a magnet of opportunity, moving to third place from last year's fourth and attracted more than half of all the FDIs in Latin America, and this year China became Brazil's largest foreign direct investor, with the focus of the inflows in commodities and energy.
The United States has slipped to fourth ranking, pulled down by its debt gridlock that shocked many investors.
Germany asserted its position as a main driver of the European economy, ranking fifth in the index.
Martin Sonnenschein, partner and managing director for Central Europe at A.T. said a "paradigm change" was taking place with the economic forces shifting from West to East.
"The foreign direct investment currents are increasingly turning away from established industry nations to emerging economies, Kearney added.
A variety of factors-including the sovereign debt crisis, the slow recovery in the United States and unrest in the Arab world made corporate investors cautious about the short-term future.
More than 60 per cent felt the recession had significantly changed the global business environment.
Given this realisation, Malaysia could make a strong pitch as an investment site that offers access to a 500 million strong hinterland combined market of the ASEAN group of which it is a founding member.
Source: BERNAMA
By Manik Mehta
NEW YORK, Dec 27 , 2011 - Malaysia's attractiveness as a destination for foreign direct investment (FDI) has considerably improved in 2011, according to the latest evaluation released by management consultant, A.T. Kearney.
Although the study, known as "The 2011 Foreign Direct Investment Confidence Index List", is dominated by three economies - China, India and Brazil, Malaysia made a significant upward climb from its 21st ranking to 10th by the year-end.
Other Southeast Asian countries which improved their ratings were Singapore at 7 up from 24 and Indonesia at 9 from 20.
But, clearly, the winners were China, India and Brazil which even surpassed the United States in terms of attractiveness as a FDI destination, according to A.T. Kearney.
Nearly half of those surveyed saw a more positive outlook for Brazil (46 per cent) than in 2010. More than one third saw improvements for both India (37 per cent) and China (34 per cent).
China maintained its number one position in the Index.
Investors are looking to capitalise on the country's growing consumer market and service industry, as well as, its move up the value chain in the technology sector.
India also advanced in the standings, assuming the United States' former position, second place.
"Given its strong growth and huge market potential, India should see a sustainable rebound if it can continue to reassure investors that it is committed to its current reform path," a senior executive at A.T. Kearney observed.
Brazil is also a magnet of opportunity, moving to third place from last year's fourth and attracted more than half of all the FDIs in Latin America, and this year China became Brazil's largest foreign direct investor, with the focus of the inflows in commodities and energy.
The United States has slipped to fourth ranking, pulled down by its debt gridlock that shocked many investors.
Germany asserted its position as a main driver of the European economy, ranking fifth in the index.
Martin Sonnenschein, partner and managing director for Central Europe at A.T. said a "paradigm change" was taking place with the economic forces shifting from West to East.
"The foreign direct investment currents are increasingly turning away from established industry nations to emerging economies, Kearney added.
A variety of factors-including the sovereign debt crisis, the slow recovery in the United States and unrest in the Arab world made corporate investors cautious about the short-term future.
More than 60 per cent felt the recession had significantly changed the global business environment.
Given this realisation, Malaysia could make a strong pitch as an investment site that offers access to a 500 million strong hinterland combined market of the ASEAN group of which it is a founding member.
Source: BERNAMA
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