From professional translators, enterprises, web pages and freely available translation repositories.
If the stock price goes down to $10, the investor earns $5 per share.
Jika harga saham jatuh ke $10, pelabur mendapat $5 bagi setiap syer.
However, if the share goes up to $20, the investor would lose $5 per share.
Walau bagaimanapun, jika syer naik kepada $20, pelabur akan kehilangan $5 bagi setiap syer.
00:00:53,971 --> 00:00:56,265
It scares us just thinking about it.
00:00:58,141 --> 00:01:00,969
When you hear it,
you're gonna think we're insane.
00:01:01,562 --> 00:01:03,560
It started out small...
00:01:03,814 --> 00:01:06,967
like a hand or a leg was
in a different position.
00:01:07,067 --> 00:01:10,191
And then its head was
looking up instead of down...
00:01:10,445 --> 00:01:14,070
and then one day, it was in
a completely different room.
00:01:14,658 --> 00:01:17,281
It was moving around by itself.
00:01:17,869 --> 00:01:20,780
Camilla got in touch with a medium.
We learned from her...
00:01:20,881 --> 00:01:24,067
that the doll was possessed by
a girl named Annabelle Higgins.
00:01:24,167 --> 00:01:27,838
She had lost her parents and
had taken a liking to my doll.
00:01:27,938 --> 00:01:29,774
All she wanted was to be friends.
00:01:29,875 --> 00:01:32,767
When we heard this, we felt
really sorry for her. I mean,
00:01:32,968 --> 00:01:35,387
we're nurses, we help people.
00:01:35,637 --> 00:01:38,386
But then things got worse.
00:01:39,975 --> 00:01:41,585
How did you end up with it?
00:01:41,685 --> 00:01:44,729
It was a gift from my mom,
for my birthday.
00:01:45,314 --> 00:01:47,983
I don't know where she got it...
00:01:48,859 --> 00:01:51,403
but we are beyond terrified.
00:02:24,561 --> 00:02:26,104
God honors sacrifice.
00:02:29,191 --> 00:02:33,942
And our sacrifices touch God's
heart and move his hand.
00:02:35,989 --> 00:02:38,908
Jesus said, "This is my commandment.
00:02:39,409 --> 00:02:42,658
That you love one another
as I have loved you.
00:02:43,246 --> 00:02:45,949
Greater love hath no one than this...
00:02:46,792 --> 00:02:49,996
that he lay down his
life for his friends."
00:02:51,088 --> 00:02:52,540
00:02:53,799 --> 00:02:55,342
Let us pray.
00:03:01,932 --> 00:03:04,430
Good to see you too. We'll see you soon.
00:03:06,144 --> 00:03:07,421
00:03:10,107 --> 00:03:11,809
00:03:12,359 --> 00:03:13,651
00:03:14,027 --> 00:03:16,054
John. But he cheats.
00:03:16,154 --> 00:03:20,530
What? It was two against one.
I had to do something, right?
00:03:20,867 --> 00:03:22,019
00:03:22,119 --> 00:03:23,687
00:03:23,787 --> 00:03:25,489
Where did Sharon get off to?
00:03:26,289 --> 00:03:28,442
- Oh, I'll find her.
00:03:28,542 --> 00:03:29,959
00:03:49,020 --> 00:03:50,767
Pete send you after me?
00:03:55,318 --> 00:03:58,237
I swear, one day he thinks I'll just...
00:03:58,947 --> 00:04:00,524
run off too.
00:04:04,244 --> 00:04:05,491
00:04:06,538 --> 00:04:09,491
What would they do without us?
I mean, honestly.
00:04:21,678 --> 00:04:24,722
Hey, wait a second. Let me help you out.
00:04:30,353 --> 00:04:32,381
- We appreciate the lift, Pete.
- Sure thing.
00:04:32,481 --> 00:04:35,634
You just make sure to take care
of this wife and baby of yours.
00:04:35,734 --> 00:04:37,177
Did we ask about names yet?
00:04:37,277 --> 00:04:39,012
- What? It's not prying.
00:04:39,112 --> 00:04:41,223
- I don't know her.
- It's just conversation.
00:04:41,323 --> 00:04:44,768
- We're still working on them anyway.
- But we're pretty sure "John" if it's a boy.
00:04:44,868 --> 00:04:47,354
- And we're thinking "Phyllis" if it's a girl.
- We were?
00:04:47,454 --> 00:04:50,658
- Yeah. You said you liked it.
- I never said that.
00:04:50,832 --> 00:04:53,985
- It's my grandmother's name.
- And I can't stand your grandmother.
00:04:54,085 --> 00:04:55,404
00:04:55,504 --> 00:04:57,781
I mean, it's not only me.
Nobody can stand her.
00:04:57,881 --> 00:04:59,854
No, she's right, everyone hates her.
00:05:00,550 --> 00:05:02,202
Okay, well, on that note...
00:05:02,302 --> 00:05:05,722
Sharon, let's go inside. These two,
they have a lot to talk about.
00:05:05,822 --> 00:05:07,582
Thank you again.
00:05:07,682 --> 00:05:08,917
Think nothing of it.
00:05:09,017 --> 00:05:10,514
00:05:11,228 --> 00:05:12,587
Children are a blessing.
00:05:12,687 --> 00:05:14,005
Indeed they are.
00:05:14,105 --> 00:05:15,799
And then they learn to talk.
00:05:15,899 --> 00:05:17,521
00:05:18,151 --> 00:05:19,568
00:05:21,822 --> 00:05:23,223
I guess that's a "no" on Phyllis?
00:05:25,242 --> 00:05:28,278
We shouldn't talk about the
baby so much in front of them.
00:05:28,379 --> 00:05:31,288
- I just think it isn't right.
- Why not?
00:05:31,873 --> 00:05:34,701
Well, they only lost their
daughter two years ago.
00:05:34,835 --> 00:05:36,737
They didn't lose their daughter, Mia.
00:05:36,837 --> 00:05:38,905
She ran away and joined up
with the hippies.
00:05:39,005 --> 00:05:42,117
By now she's probably got three
husbands and calls herself "Star."
00:05:42,217 --> 00:05:47,469
Well, even "Star" is a
better name than Phyllis.
00:05:49,724 --> 00:05:51,376
Oh, you didn't lock it?
00:05:51,476 --> 00:05:53,128
No. Why would I?
00:05:53,228 --> 00:05:56,932
You have to start locking it, John.
I mean, it's a different world now.
00:05:59,276 --> 00:06:01,678
They call themselves "The Family."
00:06:01,778 --> 00:06:04,848
But police officials have
labeled them a dangerous cult.
00:06:04,948 --> 00:06:07,476
Residing on the grounds
of Spahn Ranch...
00:06:07,576 --> 00:06:10,604
once used as the backdrop for
many well-known Westerns...
00:06:10,704 --> 00:06:14,078
the Family is estimated to
have close to 30 members...
00:06:14,291 --> 00:06:18,462
many of them with histories of heavy
drug use and criminal behavior.
00:06:18,753 --> 00:06:21,281
Currently, several Family
members are in custody...
00:06:21,381 --> 00:06:25,202
awaiting charges for the brutal
Tate and LaBianca murders...
00:06:25,302 --> 00:06:28,121
which held Los Angeles
in the grip of fear...
00:06:28,221 --> 00:06:31,041
before police investigators
were led to the suspects...
00:06:31,141 --> 00:06:32,209
00:06:32,309 --> 00:06:36,296
Do you think you could shut off the TV?
It's making it a little hard to concentrate.
00:06:36,396 --> 00:06:39,466
Their leader, Charles Manson,
was sometimes referred to...
00:06:39,566 --> 00:06:42,803
as both "God" and "Satan"
by his devoted followers...
00:06:42,903 --> 00:06:47,700
and had predicted an Armageddon-like
event he called Helter Skelter.
00:06:48,158 --> 00:06:49,701
00:06:54,831 --> 00:06:58,193
Hey. You know what, you shouldn't
even be watching that stuff. All right?
00:06:58,293 --> 00:07:00,612
It could upset the baby.
There's new research out there...
00:07:00,712 --> 00:07:03,114
- Oh, boy, more new research?
- It's true.
00:07:03,214 --> 00:07:05,200
They are learning that
babies in utero...
00:07:05,300 --> 00:07:08,703
experience more of the outside world
than they ever thought possible.
00:07:08,803 --> 00:07:11,373
They recognize voices and noises, songs.
00:07:11,473 --> 00:07:15,669
You know, I bet the men that did that
research spent millions of dollars...
00:07:15,769 --> 00:07:18,722
when they could have just
asked the mother for free.
00:07:20,857 --> 00:07:22,592
How's it going in here?
00:07:24,027 --> 00:07:25,444
00:07:26,863 --> 00:07:29,065
I am trying my hardest to enjoy it.
00:07:29,532 --> 00:07:31,425
Everyone keeps telling me that...
00:07:31,526 --> 00:07:34,604
once you're in the residency
it gets a million times worse.
00:07:34,704 --> 00:07:37,440
I haven't even mentioned the fact
that I'm about to be a new father.
00:07:37,540 --> 00:07:39,162
00:07:39,501 --> 00:07:40,861
I don't know.
00:07:40,961 --> 00:07:45,031
Sometimes you just don't wanna
hear how difficult it's gonna be.
00:07:45,131 --> 00:07:46,708
00:07:47,217 --> 00:07:49,911
No, maybe difficult's
not the right word.
00:07:50,011 --> 00:07:52,589
00:07:56,518 --> 00:08:01,599
Are you talking about the residency,
or me and the baby?
00:08:02,399 --> 00:08:03,884
I don't know.
00:08:03,984 --> 00:08:05,802
All of it, I guess.
00:08:05,902 --> 00:08:09,982
I mean, it's not like this is an ideal
situation for what I'm about to go through.
00:08:13,034 --> 00:08:15,282
Like what we're about to go through.
00:08:32,679 --> 00:08:35,723
I didn't mean for that to
sound like it did. I'm sorry.
00:08:36,433 --> 00:08:41,264
It's not like difficult or
challenging are bad things, anyway.
00:08:42,230 --> 00:08:47,218
Look, I know that I've been a little
caught up in my own world lately.
00:08:47,318 --> 00:08:50,180
- Some people might call it self-centered.
- "Some people"?
00:08:50,280 --> 00:08:51,527
00:08:52,866 --> 00:08:54,283
00:08:54,784 --> 00:08:58,454
Can we just go back and redo
the last two minutes, please?
00:09:01,249 --> 00:09:02,496
00:09:07,964 --> 00:09:09,837
00:09:10,842 --> 00:09:12,669
I know you're stressed.
00:09:13,887 --> 00:09:17,666
I'm just a little, oversensitive lately.
00:09:17,766 --> 00:09:19,092
00:09:20,143 --> 00:09:23,338
- Do you want me to tell you why?
- Yes, doctor.
00:09:23,438 --> 00:09:24,881
Okay, well, good. So...
00:09:24,981 --> 00:09:28,718
In my, almost expert opinion...
00:09:28,818 --> 00:09:30,804
you are a little sensitive...
00:09:30,904 --> 00:09:33,527
because you are a lot pregnant.
00:09:36,242 --> 00:09:38,395
Honey, I'm sorry, Mia. I am.
00:09:38,495 --> 00:09:41,940
Yes. I'm stressed about
finishing med school...
00:09:42,040 --> 00:09:44,359
and I'm freaking out about matching...
00:09:44,459 --> 00:09:46,332
but I've never been happier.
00:09:47,253 --> 00:09:48,750
00:09:49,631 --> 00:09:52,175
Okay? And that's because of you.
00:09:55,929 --> 00:09:57,472
00:10:01,810 --> 00:10:03,387
Oh, you know what?
00:10:04,020 --> 00:10:06,393
There's something I wanna give you.
00:10:06,940 --> 00:10:09,592
Oh, no. The last time you said
that I ended up pregnant.
00:10:09,692 --> 00:10:11,314
Yes, you did.
00:10:27,043 --> 00:10:28,995
Okay, close your eyes.
00:10:30,880 --> 00:10:35,618
All right. Hold on a second. I was
waiting on this until the baby, but...
00:10:35,718 --> 00:10:37,328
You were feeling a little...
00:10:37,428 --> 00:10:39,372
Guilty, yes. Because of what I said.
00:10:39,472 --> 00:10:41,424
Okay. Open your eyes.
00:10:44,936 --> 00:10:46,763
00:11:02,245 --> 00:11:03,646
Oh, my God, John.
00:11:03,746 --> 00:11:06,119
- That's the one, right?
00:11:08,168 --> 00:11:11,780
Where did you find her? I mean,
do you know how long I've been looking?
00:11:11,880 --> 00:11:13,573
00:11:13,673 --> 00:11:15,825
I'd completely lost hope.
00:11:15,925 --> 00:11:17,798
Well, I have my ways.
00:11:28,104 --> 00:11:31,478
We'll be a little short on the rent
the next few months, but...
00:11:43,578 --> 00:11:45,730
There. She fits right in.
00:11:45,830 --> 00:11:47,998
That completes the set, right?
00:11:48,374 --> 00:11:50,076
Yes, it does.
00:11:50,460 --> 00:11:52,708
Thank you. I love her.
00:13:02,490 --> 00:13:03,987
00:13:04,242 --> 00:13:05,910
John, wake up.
00:13:06,077 --> 00:13:08,354
- What is it? Is it the baby?
- No, no.
00:13:08,454 --> 00:13:10,523
Next door, I heard a scream.
00:13:10,623 --> 00:13:13,246
I think something's wrong.
00:13:24,429 --> 00:13:26,973
Stay here. I'll go check it out.
00:13:29,142 --> 00:13:30,514
00:13:31,019 --> 00:13:32,670
Shouldn't we call the cops?
00:13:32,770 --> 00:13:34,505
Because you think you heard a scream?
00:13:34,605 --> 00:13:37,383
No, just let me go check it out.
They'd do the same for us.
00:13:37,483 --> 00:13:40,053
If they heard me scream,
I'd rather they call the cops.
00:13:40,153 --> 00:13:42,276
Think they heard you scream.
00:13:43,072 --> 00:13:45,900
- Just be careful.
- I will.
00:14:32,413 --> 00:14:34,035
00:14:52,517 --> 00:14:55,003
- Oh, my God! You're covered in blood.
- It's not mine.
00:14:55,103 --> 00:14:58,182
Go back inside and call
an ambulance, right now. Go!
00:15:21,254 --> 00:15:22,905
00:15:23,005 --> 00:15:24,866
I need an ambulance.
00:15:24,966 --> 00:15:26,713
What's your location?
00:15:27,009 --> 00:15:28,953
307 Gardner Road.
00:15:29,053 --> 00:15:30,288
In Santa Monica?
00:15:30,388 --> 00:15:31,497
00:15:31,597 --> 00:15:33,174
What's your emergency?
00:15:33,599 --> 00:15:35,209
I don't know, but...
00:15:36,769 --> 00:15:38,391
There's a lot of blood.
00:15:40,022 --> 00:15:42,725
Please, just be as fast as possible.
00:16:11,012 --> 00:16:13,556
I like your dolls.
00:16:18,227 --> 00:16:20,646
My husband's coming back.
00:16:21,147 --> 00:16:25,568
Just take whatever you
want and just get out!
00:16:30,198 --> 00:16:31,557
00:16:34,535 --> 00:16:35,907
Get out of here!
00:16:36,871 --> 00:16:38,994
Get out! Get out of here, Mia!
00:17:34,762 --> 00:17:36,054
00:17:40,226 --> 00:17:41,669
- Open the door!
- I got you.
00:17:41,769 --> 00:17:43,629
- Open up, this is the police.
- I got you.
00:17:43,729 --> 00:17:45,226
Open the door!
00:17:58,202 --> 00:17:59,479
You just breathe.
00:17:59,579 --> 00:18:02,148
You're all right. We got you.
00:18:02,248 --> 00:18:04,576
I'm right here. I'm right here with you.
00:18:42,830 --> 00:18:45,608
In a tragic scene described
by one investigator...
00:18:45,708 --> 00:18:47,944
as reminiscent of a
horrific occult ritual...
00:18:48,044 --> 00:18:50,947
a man and his wife were
brutally stabbed to death...
00:18:51,047 --> 00:18:55,076
by their estranged daughter, Annabelle
Higgins, and her unidentified boyfriend.
00:18:55,176 --> 00:18:57,286
The two are believed to
be members of a cult.
00:18:57,386 --> 00:19:01,332
The male suspect was shot and killed
as police arrived on scene...
00:19:01,432 --> 00:19:05,878
while the daughter was found in an
apparent suicide, her throat slit open.
00:19:05,978 --> 00:19:09,549
One officer summed up these
blood-soaked murders by saying:
00:19:09,649 --> 00:19:13,945
"In all my years, I have never seen
anything quite as gruesome as this."
00:19:18,366 --> 00:19:21,852
And while the amniotic
sac wasn't punctured...
00:19:21,952 --> 00:19:24,105
and isn't ruptured...
00:19:24,205 --> 00:19:29,662
we are seeing signs of
strain on the cervix.
00:19:30,336 --> 00:19:32,572
Most likely caused by the trauma.
00:19:32,672 --> 00:19:34,490
Which is why...
00:19:34,590 --> 00:19:39,387
I am putting you on bed rest for
the remainder of your pregnancy.
00:19:39,762 --> 00:19:43,624
Now, you can get up
and use the facilities...
00:19:43,724 --> 00:19:46,268
if you do so delicately.
00:19:46,560 --> 00:19:51,674
But anything beyond that would be putting
you and your child at risk. All right?
00:19:51,774 --> 00:19:54,818
- Yes, sir. Thank you.
00:20:11,752 --> 00:20:13,499
00:20:26,308 --> 00:20:29,307
I had them scrub everything.
At least twice.
00:20:29,603 --> 00:20:32,477
Now you could perform surgery
in there, it's so clean.
00:20:49,665 --> 00:20:51,117
You didn't have to do that.
00:20:51,625 --> 00:20:54,874
You're on bed rest for a while.
You'd go crazy if I didn't.
00:20:55,421 --> 00:20:59,075
Just don't get all obsessed
with those daytime soaps.
00:20:59,175 --> 00:21:01,548
You know I can't stand them.
00:21:01,844 --> 00:21:03,746
I'll bring your sewing bag in later on.
00:21:03,846 --> 00:21:08,017
Okay? We can turn the whole room
into your own little sweatshop.
00:21:09,977 --> 00:21:11,645
What is it?
00:21:14,940 --> 00:21:17,234
You think the baby's okay?
00:21:18,152 --> 00:21:21,055
The baby is not even
aware of what happened.
00:21:21,155 --> 00:21:24,684
Oh, really? Because I heard there's
some new research that, you know...
00:21:24,784 --> 00:21:26,611
Mia, come on.
00:21:26,952 --> 00:21:28,813
You heard the doctors.
00:21:28,913 --> 00:21:31,232
So if you listen to them,
the baby is fine.
00:21:31,332 --> 00:21:32,775
The baby is fine.
00:21:32,875 --> 00:21:34,819
I mean, you're its mother, right?
00:21:34,919 --> 00:21:37,087
If it wasn't, you would know.
00:21:39,840 --> 00:21:41,784
But if something does happen...
00:21:41,884 --> 00:21:43,661
What? What's gonna happen?
00:21:43,761 --> 00:21:46,080
Like when I go into labor, John.
00:21:46,180 --> 00:21:47,848
00:21:49,475 --> 00:21:51,803
You'll save the baby over me.
00:21:52,436 --> 00:21:55,765
- Come on.
- We have to talk about it.
00:21:57,399 --> 00:22:01,945
I mean, I can't have
anything ever happen to it.
00:22:03,405 --> 00:22:05,198
You promise me.
00:22:07,743 --> 00:22:10,537
You promise me you'll save the baby.
00:22:13,666 --> 00:22:16,085
Yeah, Mia, I promise.
00:22:16,585 --> 00:22:17,862
But you know what?
00:22:17,962 --> 00:22:19,363
It's gonna be okay.
00:22:19,463 --> 00:22:21,711
You are gonna be fine.
00:23:04,800 --> 00:23:06,752
What the hell is that?
00:23:10,639 --> 00:23:13,388
00:24:20,250 --> 00:24:22,578
- It's okay.
00:25:11,010 --> 00:25:13,383
I'm your friend,
you know that, don't you?
00:25:14,930 --> 00:25:16,382
Are you, Phil?
00:25:16,890 --> 00:25:18,387
Of course I am.
00:25:20,436 --> 00:25:22,559
Well, then, I have a friend.
00:25:23,355 --> 00:25:27,009
You have been terribly nice this
past week. Going to the movie...
00:25:27,109 --> 00:25:30,108
Out to dinner. Even dancing.
00:25:30,612 --> 00:25:32,735
It's been a lot of fun for me.
00:26:23,123 --> 00:26:25,151
How'd it go today?
00:26:25,751 --> 00:26:28,028
- TV went out again.
00:26:28,128 --> 00:26:31,002
Must be that room.
That never did that in the den.
00:26:32,174 --> 00:26:33,450
What is all that?
00:26:33,550 --> 00:26:37,329
This is a bunch of random stuff
that I picked up at the store...
00:26:37,429 --> 00:26:39,540
to satisfy any pregnancy cravings.
00:26:39,640 --> 00:26:43,043
You know, it's funny, I haven't
really had any cravings. It's funny.
00:26:44,603 --> 00:26:46,396
00:26:46,605 --> 00:26:49,008
Oh, my God, you know what
would go really well with pickles?
00:26:51,235 --> 00:26:54,359
John Form, we are meant to be together.
00:26:54,988 --> 00:26:56,265
Yeah, I know.
00:26:56,365 --> 00:26:58,518
Like, mustard and pickles.
00:27:03,038 --> 00:27:05,065
Did you get to have your meeting today?
00:27:05,165 --> 00:27:06,567
Yeah, I did.
00:27:06,667 --> 00:27:10,246
He, thinks I've got a real
shot at Huntington Memorial.
00:27:11,880 --> 00:27:13,323
Of course you do.
00:27:13,423 --> 00:27:17,469
It's in Pasadena, though. It's a little
further from the beach. You okay with that?
00:27:19,638 --> 00:27:21,590
Change of view would be good.
00:27:22,933 --> 00:27:24,126
00:27:24,226 --> 00:27:27,838
There's this one day conference in
Sacramento that he thinks I should attend...
00:27:27,938 --> 00:27:30,391
that, could help move
The Motive for the Investment
The motive for a foreign investment is crucial in determining how linkages and
externalities develop. There are four main motives for investment: 1) seek natural
resources; 2) seek new markets; 3) restructure existing foreign production; and
4) seek new strategic assets [Narula and Dunning, 2000]. These can be placed into
two categories. The first category includes the first three motives: asset-exploiting,
to generate economic rent by using existing firm-specific assets. The second
category is the fourth motive: asset-augmenting, to acquire new assets that protect
or enhance existing assets. In general, developing countries are unlikely to attract
the second category of FDI; they primarily attract the first category.
The relative importance of each motive partly reflects the stage of economic
development [Narula and Dunning, 2000; Narula, 1996, 2004]. Least developed
countries would tend to have mainly resource-seeking FDI and countries at the
catching-up stage mostly market-seeking FDI. Efficiency-seeking investments,
with the most stringent capability needs, will tend to focus on the more
industrialised developing economies (though three or four decades ago they went
to countries with relatively low capabilities, e.g. the electronics industry in
Southeast Asia in the 1970s).
Not all affiliates offer the same spillovers to host economies. A sales office,
for instance, may have a high turnover and employ many people, but its
technological spillovers will be limited relative to a manufacturing facility.
Likewise, resource-seeking activities like mining tend to be capital intensive and
provide fewer spillovers compared to market-seeking manufacturing FDI. During
import substitution, most MNEs set up miniature replicas of their facilities at
home, though many functions were not reproduced (they were ‘truncated’). The
extent of truncation, however, varied by host country. The most important
determinants of truncation – and thus the scope of activities and competence of
the subsidiary – were market size and local industrial capabilities [Dunning and
Narula, 2004]. Countries with small markets and weak local industries had the
most truncated subsidiaries, often only single-activity subsidiaries (sales and
marketing or natural resource extraction). Larger countries with domestic
technological capacity (such as Brazil and India) had the least truncated
subsidiaries, often with research and development departments.
With liberalisation, MNE strategies on affiliate competence and scope have
changed in four ways [Dunning and Narula, 2004]. First, there has been
investment in new affiliates. Second, there has been sequential investment in
upgrading existing subsidiaries. Third, there has been some downgrading of
subsidiaries, whereby MNEs have divested in response to location advantages
elsewhere or reduced the level of competence and scope of subsidiaries.
DO WE NEED A NEW AGENDA? 451
Fourth, there has been some redistribution of ownership as the result of
privatisation or acquisitions of local private firms. In many, but certainly not
all, cases this also led to a downgrading of activities.
MNEs are taking advantage of liberalisation to concentrate production
capacity in a few locations, exploiting scale and agglomeration economies,
favourable location and strong capabilities. Some miniature replicas have been
downgraded to sales and marketing affiliates, with fewer opportunities for
spillovers. Countries that receive FDI with the highest potential for capability
development are, ironically, those with strong domestic absorptive capacities.
The article by Lorentzen and Barnes on South Africa shows that domestic
capacity – in the form of infrastructure or an efficient domestic industrial sector
– is a primary determinant of high competence affiliates. They base their analysis
on eight case studies in the South African automotive sector, and show that
indigenous firms can compete with MNEs, and – given the appropriate domestic
capabilities and infrastructure – can maintain and improve their competitive
advantages through indigenous innovation.
Like South Africa, other countries have succeeded in attracting such FDI,
notably Mexico and the Caribbean Basin [ECLAC, 2000, 2001; Mortimore,
2000]. In addition to providing a threshold level of domestic capabilities and
infrastructure, these countries have invested in developing their knowledge
base (although to a lesser extent in the case of Mexico). Mortimore 
argues that much of this FDI has created export platforms for MNEs with
limited benefits for the host countries [ECLAC, 2001]. This is a point
reiterated by Mytelka and Barclay here in the case of Trinidad, where FDI has
not been leveraged to develop the skills and capabilities of local downstream
and supporting firms. The state has largely failed to act as a facilitator to
stimulate and support domestic absorptive capacities and linkages with MNE
FDI transfers technology to local firms in four ways: backward linkages, labour
turnover, horizontal linkages and international technology spillovers. Studies of
backward linkages have identified various determinants, including those internal
to MNEs and those associated with host economies. The ability of the host
economy to benefit from MNE linkages has been found to depend crucially on the
relative technological capabilities of recipient and transmitter: the greater the
distance between them, the lower the intensity of linkages.
Again, MNE motives and strategies matter. Domestic market oriented
affiliates generally purchase more locally than export-oriented firms because of
lower quality requirements and technical specifications [Reuber et al., 1973;
Altenburg, 2000]. MNE affiliates are more likely to be integrated with host
countries where they source relatively simple inputs [Ganiatsos, 2000; Carillo,
THE COMPANIES ACT 1965
PRIVATE COMPANY LIMITED BY SHARES
ARTICLES OF ASSOCIATION
PELABUHAN HUTAN MELINTANG HOLDING SDN. BHD.
1. Subjects as hereinafter provided, the regulations in Table ‘A’ in Fourth Schedule of the Companies Act 1965 (‘the Act’ ) shall apply to the company with the exception of Regulation 22, 48, 71 and 90 of Table A.
2. The Company is a Private Company, and accordingly :
a) The right to transfer shares is restricted in the manner hereinafter prescribed;
b) The number of members of the Company ( counting joint holders of shares as one person and not counting any person in the employment of the Company or of its subsidiary was and thereafter has continued to be a member of the Company ) shall be limited to fifty; provided that where two or more persons hold one or more shares in the Company jointly they shall for the purposes of this paragraph be treated as single member;
c) Any invitation to the public to subscribe for any shares in or debentures of the Company is prohibited; and;
d) Any invitation to the public to deposit money with the Company for fixed periods or payable at call, whether bearing or not bearing interests, is prohibited.
3. The directors may, in their absolute discretion and without assigning any reason therefore, decline to register any transfer of any share, whether or not it is fully paid shares.
4. If within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of members, shall be dissolved; in any case it shall stand adjourned to the same day in the next week at the same time and place, or to such other day and at such other time and place the directors may determine; and if at the adjourned meeting of quorum is not present within half an hour from the time appointed therefore, those present shall constitute a quorum.
5. The first directors shall be ZAHARI BIN SHADAN, RAZALI BIN ESA and AHMAD FIZAL BIN AZRAT GULL. The number of directors shall not less than two and not more than nine.
6. A resolution in writing, signed by majority of the Directors for the time being entitled to receive notice of a meeting of the Directors, shall be as valid and effectual is if it had been passed at a meeting of the Directors duly convened and held. Any such resolution may consist of several documents in like form each signed by one or more Directors.
7. The first secretary shall be DR. RUZIAH BINTI GHAZALI (LS 05611)
8. The office of the Secretary shall be vacated if he signed by notice in writing to the Company, left at the registered office and copies lodged with the directors for the time being at their last known addresses.
We, the several persons whose names and addresses are subscribed hereunder being subscribers, hereby agree to the foregoing Articles of Association.
INITIAL REGISTRATION OF TITLES
Division 1 — Bringing land under the Act on alienation
Alienation by State
—(1) Where at any time, whether before or after 1st March 1994, the State alienates or has alienated —
an estate in fee simple;
an estate in perpetuity; or
a leasehold estate,
in any land, the Collector shall furnish to the Registrar such particulars of the alienation in such manner as may be required by the Registrar to enable the Registrar to bring the land under the provisions of this Act by creating one or more folios for that land.
(2) Any land brought under the provisions of this Act under subsection (1) shall be held subject to such exceptions, reservations, covenants and conditions expressed or implied by law in the relevant State title.
(3) Pending the issue of a State title, the land brought under the provisions of this Act under this section shall be held subject to such exceptions, reservations, covenants and conditions expressed or implied by law in the State title executed in escrow by the grantee or lessee of the land.
(4) Where any land has been brought under the provisions of this Act pursuant to any certificate issued by the Collector before 1st March 1994, the Collector shall upon the issue of the relevant State title deliver the full particulars of the State title to the Registrar who shall create a new edition of the relevant folio or make necessary alterations to the land-register to show the particulars of the State title and the boundaries and dimensions of the land and indicate whether the boundaries and dimensions are conclusive.
Surrender and reissue of title to land
—(1) Where the President agrees to accept the surrender of the title to land (whether registered or unregistered, and whether of the same or different tenure), for the reissue of one or more fresh State titles of one type of tenure, the President may accept the surrender of title to land, subject to all or any of the following:
any subsisting mortgage with the consent of the mortgagee, the Collector, and the Registrar of Deeds or the Registrar, as the case may be;
any subsisting statutory charge in favour of the Central Provident Fund Board or any caveat notified under this Act or registered under the Registration of Deeds Act (Cap. 269) with the consent of the Collector, and the Registrar of Deeds or the Registrar, as the case may be.
(2) Upon the acceptance by the President under subsection (1), the surrender may be lodged with the Registry of Deeds or Land Titles Registry, as the case may be.
(3) The fresh State title or titles in respect of the whole or part of the land surrendered may be issued by the President only when the Registrar of Deeds or the Registrar, as the case may be, has notified the Collector that the surrender has been finally registered.
(4) Upon the creation of one or more folios for the land, the Registrar shall, where applicable, notify any subsisting mortgage, statutory charge or caveat referred to in subsection (1)(a) and (b), and cancel the previously existing folio or folios for the land.
(5) Any subsisting mortgage, statutory charge or caveat referred to in subsection (4) and notified on one or more folios for the land comprised in the fresh State title or titles issued by the President shall be deemed to be registered or notified against the estate and interest of the proprietor of land in whose name such folio or folios are issued.
[Act 8 of 2014 wef 15/08/2014]
10. [Repealed by Act 8 of 2014 wef 15/08/2014]
11. [Repealed by Act 8 of 2014 wef 15/08/2014]
Restriction on registration or notification of assurance, instrument or caveat pending issue of fresh State title
12. After the surrender of the title to land is lodged with the Registry of Deeds or the Land Titles Registry, as the case may be, under section 9, and pending the issuance of a fresh State title or titles by the President —
except for a discharge of a statutory charge in favour of the Central Provident Fund Board or a withdrawal of a subsisting caveat registered under the Registration of Deeds Act —
no assurance or caveat in respect of the unregistered land surrendered shall be capable of being registered under the provisions of that Act; and
where such assurance or caveat has been registered, the Registrar of Deeds shall have the power to cancel the registration of such assurance or caveat and any entries relating thereto from the records kept by the Registry of Deeds; and
except for a discharge of a statutory charge in favour of the Central Provident Fund Board or an extension or withdrawal of a subsisting caveat notified under this Act —
no dealing or caveat in respect of the registered land surrendered shall be capable of being registered or notified under the provisions of this Act; and
where such dealing or caveat has been registered or notified, the Registrar shall have the power to cancel the registration or notification of such dealing or caveat and any entries relating thereto from the records kept by the Land Titles Registry.
[Act 8 of 2014 wef 15/08/2014]
Collector to furnish Registrar with particulars of fresh State title
—(1) Where at the time of the lodgment of any surrender of the title to land under section 9, the land is subject to any subsisting mortgage, statutory charge or caveat, the fresh State title or titles to be issued by the President under section 9 shall be endorsed with a statement by the Collector that the fresh State title or titles are subject to such subsisting mortgage, statutory charge or caveat referred to in that section.
[Act 8 of 2014 wef 15/08/2014]
(2) Upon the issue of the fresh State title by the President for the land surrendered under section 9, the Collector shall furnish to the Registrar such particulars of the fresh State title in such manner as may be required by the Registrar to enable the Registrar —
to bring the land under the provisions of this Act by creating one or more new folios for the land; and
to notify the subsisting mortgage, statutory charge or caveat on the relevant folio or folios and, where applicable, cancel the previously existing folio or folios for the land.
[Act 8 of 2014 wef 15/08/2014]
(3) Section 27(5) and (6) shall apply, with the necessary modifications, to the mortgage, statutory charge or caveat notified on the relevant folio under subsection (2).
Power of Registrar of Deeds to refuse registration of assurances
14. Where an assurance which requires the prior written consent of either the Collector or the Registrar or both of them, as the case may be, has been made without the endorsement of his or their written consent thereon —
the Registrar of Deeds shall not accept that assurance for registration or, in the case where that assurance has been registered under the provisions of the Registration of Deeds Act (Cap. 269), shall cancel the registration of that assurance and any entries relating thereto; and
the Collector shall disregard that assurance and may issue one or more fresh State titles as if that assurance had not been made.
[Act 8 of 2014 wef 15/08/2014]
Application of section 8
—(1) Section 8(2) and (3) shall apply to any land brought under the provisions of this Act pursuant to the issue of fresh State title after the surrender of an existing title.
[Act 8 of 2014 wef 15/08/2014]
(2) Section 8(4) shall apply to any land brought under the provisions of this Act pursuant to the surrender of an existing title and the issue of a certificate by the Collector before 1st March 1994.
Registrar to make an entry on folio as to conclusiveness of boundaries, etc.
—(1) Where any land alienated by the President is brought under the provisions of this Act and a folio has been created for the land, the Registrar shall —
where the boundaries and dimensions as shown in the plan filed with and approved by the Chief Surveyor are inconclusive, make an entry in the folio to show —
that the boundaries and dimensions are inconclusive; and
the reference number of the plan; or
where in the plan filed with and approved by the Chief Surveyor the boundaries and dimensions have been approved as conclusive, make an entry in the folio of the reference number of the plan.
(2) Where the Registrar has entered a caution on the folio created for the land as to the inconclusiveness of its boundaries and dimensions under subsection (1), he shall cancel that caution when the boundaries and dimensions shown in the plan filed with the Chief Surveyor have been approved as conclusive by the Chief Surveyor.
(3) Upon the cancellation of the caution referred to in subsection (2), the Registrar shall make the appropriate entry on the folio as to the conclusiveness of the boundaries and dimensions.
Priority of interests protected by caveats, mortgages and statutory charges registered or notified on land-register
—(1) Where any land has been surrendered to the President under section 9, with subsisting mortgages, statutory charges and caveats registered or notified on the land-register, the priority of these mortgages, statutory charges and caveats shall be determined as follows:
the priority for caveats lodged under section 115 and notified in the land-register shall be determined in accordance with section 119; and
the priority for mortgages, statutory charges or caveats (including those registered under the Registration of Deeds Act and subsequently notified on the folio or folios when created) shall be determined in accordance with section 48.
[Act 8 of 2014 wef 15/08/2014]
(2) Where any instrument (including a mortgage, statutory charge or caveat) was materially amended pending its final registration or notification in the land-register, as the case may be, section 48(2) shall apply, with the necessary modifications, to the determination of its priority in accordance with this section.
(3) The respective priorities of mortgages, statutory charges and caveats as determined in subsection (1) shall apply only to those mortgages, statutory charges and caveats which were subsisting at the date of surrender and have not been discharged, withdrawn or cancelled at the date of the issue of fresh State title to the land or part thereof.
[Act 8 of 2014 wef 15/08/2014]
Collector may refuse to accept surrender of title to land for reissue of title
18. The Collector may refuse to accept the surrender of any title to land for the reissue of title where he is satisfied that the proprietor or owner of the land intended for surrender has not complied with any existing law or the lawful requirements of any Government authority.
Division 2 — Applications and schemes to bring land under this Act
Bringing lands under this Act
—(1) Unregistered land of whatever tenure may be brought under the provisions of this Act upon any primary application or at the instance of the Registrar in accordance with this Division.
(2) The Registrar may bring unregistered land under the provisions of this Act by the creation of one or more folios for the land which shall be either qualified or unqualified as to title, and shall notify on the folio, in such manner as to preserve their priority, such particulars as the Registrar thinks fit of all subsisting mortgages or other encumbrances to which the land is subject at the time of bringing the land under the provisions of this Act.
(3) Any folio, qualified or unqualified as to title, created under this Division for any land may, if the circumstances so require, be qualified as to the boundaries and dimensions of the land, and section 165 shall apply with such modifications as are necessary to that land.
—(1) A person entitled to bring unregistered land under the provisions of this Act may lodge a primary application with the Registrar to bring the land under this Act together with any deed, conveyance or instrument affecting the land.
(2) The following persons shall be entitled to have unregistered land brought under the provisions of this Act:
the person claiming to be the owner (either at law or in equity) or persons who collectively claim to be the owners (either at law or in equity) of the fee simple, an estate in perpetuity or leasehold estate; or
trustees for the sale of the fee simple, an estate in perpetuity or leasehold estate where the application to bring the land under the provisions of this Act has been consented to by a majority in number of persons required to give that consent.
(3) A primary application to bring land under the provisions of this Act shall —
be in the approved form; and
be accompanied by such documents of title or other evidence as the Registrar may require, including but not limited to a statutory declaration (in a form acceptable to the Registrar) executed by an applicant who is unable to produce any such documents of title or other evidence to substantiate his claim or from any person connected with the loss of those documents.
(4) Notwithstanding subsection (2), a mortgagor is not entitled to apply to bring land under the provisions of this Act unless the mortgagee consents to the primary application.
(5) Unless expressly prohibited by the terms of its memorandum of association, constitution, charter, limited liability partnership agreement or other constituting document, as the case may be, a corporation (whether sole or aggregate) or a limited liability partnership shall be deemed to have power to apply to the Registrar to bring land under the provisions of this Act.
[Act 8 of 2014 wef 15/08/2014]
(6) Any primary application under subsection (5) may be made —
on behalf of a corporation (other than a limited liability partnership), by its director, manager or secretary; or
on behalf of a limited liability partnership, by its partner or manager, or an attorney appointed in that behalf by the limited liability partnership,
under its common seal in accordance with the memorandum of association, constitution, charter, limited liability partnership agreement or other constituting document, as the case may be.
[Act 8 of 2014 wef 15/08/2014]
(7) The Registrar may refer any primary application to any legally qualified person for investigation of and report on the applicant’s title.
(8) On the creation of a folio for the land, the Registrar shall cancel —
all assurances lodged to support the primary application if the folio is unqualified as to title; or
in any other case, the last deed lodged with the Registry of Deeds prior to the creation of the folio.
Unregistered land may be brought under this Act at instance of Registrar or on registration of conveyance
—(1) The Registrar may, if he thinks fit, bring under the provisions of this Act any unregistered land comprised in any conveyance registered under the Registration of Deeds Act (Cap. 269).
(2) If the Registrar intends to bring any unregistered land under the provisions of this Act in accordance with subsection (1), the Registrar shall —
give notice of his intention to do so to the owner of the land (as shown from the records in the Registry of Deeds); and
require the owner to produce for cancellation, within the time specified in the notice, his documents of title or any other evidence substantiating his ownership of the land.
(3) Where the owner of the land fails, neglects or refuses to comply with the notice under subsection (2), the Registrar shall insert a notice in one or more local daily newspapers circulating in Singapore stating the Registrar’s intention to bring the unregistered land under the provisions of this Act, including particulars of the owner of the land as shown from the records in the Registry of Deeds or such other particulars as the Registrar may in his discretion deem appropriate.
(4) After the Registrar has given notice under subsection (2) or (3), as the case may be, he shall bring the land specified in the notice under the provisions of this Act by creating one or more folios for that land.
(5) Where a person entitled to the unregistered land does not or is unable to produce the documents of title or any other evidence substantiating his claim, the Registrar may, in his discretion, issue a certificate of title to that person if a statutory declaration (in a form acceptable to the Registrar) has been executed by that person, his successor in title, his mortgagee or any person who has possession or control of the documents of title, and produced to the Registrar for his inspection and, if the Registrar so requires, retention.
[Act 8 of 2014 wef 15/08/2014]
(6) On registering a conveyance in accordance with section 7(2) of the Registration of Deeds Act (Cap. 269), the Registrar of Deeds shall forward the conveyance to the Registrar who may, if he thinks fit, bring the land comprised in the conveyance under the provisions of this Act.
(7) The Registrar shall cancel the last deed pertaining to any land brought under the provisions of this Act in accordance with this section.
Land may be brought under this Act upon subdivision
—(1) Where permission has been granted to develop or subdivide any unregistered land, the owner is not entitled to deal with the land or any part thereof whether under the Registration of Deeds Act or under this Act, unless the entire parcel is brought under the provisions of this Act in accordance with Division 1 or this Division.
[Act 8 of 2014 wef 15/08/2014]
(2) Notwithstanding subsection (1), the Registrar of Deeds may register any assurance of the land or part thereof under the Registration of Deeds Act where the Registrar has issued to the owner a certificate exempting the land from the application of subsection (1).
[Act 8 of 2014 wef 15/08/2014]
(3) Subject to subsection (4), subsection (2) shall not apply to unregistered land where permission for the subdivision of any building erected thereon was previously granted and an assurance of part of that subdivided building was registered under the Registration of Deeds Act before 15th May 1968.
(4) Where the whole of the estate in an unregistered land referred to in subsection (3) comprising the subdivided building has wholly become vested or subsequently vests in the same proprietor at any time on or after 15th May 1968, subsection (2) shall apply to that unregistered land.
In whose name title to issue
—(1) A folio created under this Division shall be in the name of —
the person who in accordance with the documents lodged is entitled to be registered as the proprietor of the fee simple, estate in perpetuity or leasehold estate in land; or
[Act 8 of 2014 wef 15/08/2014]
the person who in accordance with the documents lodged is entitled to be registered as the proprietor of the equity of redemption if conversion is based on the delivery of a document which is a conveyance of the land by way of mortgage.
(2) If before a folio is created, the person who is entitled to be recorded as the registered proprietor on the folio dies, the folio may be created recording the deceased person as the registered proprietor as if the folio was created before the person died.
Mortgages and leases
—(1) Where land has been brought under the provisions of this Act by the creation of a folio (whether qualified or unqualified as to title), any subsisting mortgage registered under the Registration of Deeds Act (Cap. 269) in respect of land comprised in the folio shall, when notified on the folio, be deemed to be a mortgage registered under the provisions of this Act and the provisions of this Act applicable to registered mortgages shall apply to that mortgage.
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