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Thailand : Selected Issues
Four years since the onset of the financial crisis, Thailand's economic recovery remains fragile and is now threatened by a sharp slowdown in external demand. Bank and corporate sector restructuring policies have formed a key focus of the Article IV discussions. An important initiative to accelerate bank and corporate restructuring is the recent establishment of the Thai Asset Management Corporation (TAMC). An inadequate legal framework has been a major impediment to corporate debt restructuring. Even with an acceleration of bank and corporate restructuring, questions will remain about medium-term growth prospects.
Thailand: Selected Issues
II. Financial Sector Developments and Prospects 1
B. Banking Sector Developments and Status
NPLs and Distressed Assets
Bank Capital and Provisions
Bank Profitability
C. Corporate Sector Performance
D. Corporate Debt Restructuring
E. Outlook and Key Risks for the Banking System
Near term outlook
Fundamental Credit Risk
Portfolio and Foreign Exchange Risk
F. Conclusion
Thailand: NPLs and Real GDP, 1997-99
Commercial Bank NPLs, 1998-2001
Contributions Cumulative Change in NPLs since 1999q3
New NPL Entry, 1999-2001
Debt Restructuring by Private and State Commercial Banks, 1999-2001
Private Bank Capital Adequacy, 1998–2000
Structure of Commercial Bank Collateral
Bank Profitability: Private Banks, 1997–2001
Corporate Debt, 1994–2000
Debt - Equity Rations, 1997-vs-2000
Estimated Private Non-household Debt, 1994–2000
SME Debt Equity Ratios, 1996–98
Sectoral Debt-Equky Ration, 1994–2000
Real Corporate Earnings and CDF, 1997–2000
Interest Coverage of Listed Companies, 1994–2000
Average Write-offs on Debt Restructured, 1998q3–2000q3
Headline Bank ISPLs and System Distressed Assets, 1999–2001
Private Bank Additional Capital Need: Different Loss Rate Scenarios
Private Bank Additional Capital Heed: Different Loss Rate Scenarios
Commercial Bank Investment In Government Securities, 1997–2001
Net Commercial Bank Investment in Money Market, 1997–2001
Commercial Bank Net Open F/X Position, end-May, 2001
II. Financial Sector Developments and Prospects1
1. The Thai economy boomed in the decade prior to 1997, concealing growing financial fragilities. With growth averaging almost 10 percent per year, resulting large current account deficits were financed by short-term capital inflows in the context of the fixed exchange rate regime and positive interest differential. An asset bubble ensued, with surging real estate investment and stock market prices. These factors combined to conceal growing financial fragilities as investment flowed into increasingly marginal enterprises, culminating in the exchange rate crisis in mid-1997.
2. The crisis exposed underlying fragilities in the financial sector.2 Years of lax lending and provisioning standards masked underlying weaknesses in many finance companies and some banks. The slumping economy compounded these weaknesses and led to a massive increase in non-performing loans (NPLs) throughout the financial system (Text Figure). As part of the policy response, unviable institutions were closed or taken over by the state, while a comprehensive deposit guarantee was put in place to preserve confidence. To prevent financial sector problems from recurring, an enhanced prudential framework was phased in, bringing loan classification and provisioning rules gradually in line with international best practice. Capital support schemes were also put in place to assist financial institutions' efforts to raise equity. In addition, the government took steps to promote the restructuring of corporate debt, through a reform of bankruptcy and foreclosure procedures, and the encouragement of voluntary debt restructuring. These actions have facilitated Thailand's emergence from the crisis with more than two-thirds of the core banking system still in private hands.
3. There has been significant consolidation amongst Thai banks and finance companies following the crisis. The finance company sector has been substantially reduced, with the share of financial system assets made up by finance companies declining from some 25 percent of all assets before the crisis to under 5 percent at end-2000. Meanwhile, there has been significant consolidation and ownership change in the banking system, with seven banks (accounting for 16 percent of banking system assets before the crisis) having been closed, intervened and/or merged. Moreover, the large amount of new capital raised by private banks has resulted in a significant dilution of existing ownership stakes and also an increase in the level of foreign ownership. Four small commercial banks are now foreign-owned, and the largest private banks have substantial (30-49 percent) minority foreign holdings (Text Table).
Thailand: Consolidation of the Financial Sector 1/
Share of Assets
June 1997 91 24 15 76
Total assets of $163 billion State share negligible State share 10 percent of total assets
Foreign-owned: 0 percent of total assets
Closures 56 14 1 2
Interventions/Mergers 13 4 6 14
December 20002/ 23 4 13 96
Total assets of $133 billion State share negligible State share 28 percent of assets
Foreign-owned: 6 percent of assets 3/
Source: Bank of Thailand
1/ Excludes foreign bank branches and specialized financial institutions. Dollar figures are at constant exchange rates of 44 baht per dollar.
2/ Figures exclude $23 billion of finance company assets taken over by FRA.
3/ Further, the three largest private banks, with over 40 percent of total assets, have high foreign ownership (30-49 percent).
4. Nonetheless, the corporate sector remains highly leveraged, with the large volume of distressed assets continuing to pose risks to the financial system. Domestic corporate debt has fallen little since 1997, and debt-equity ratios remain high. Thus the corporate sector remains exposed to new shocks to the global economic outlook and the slowing recovery, and is a source of vulnerability for the financial system.
5. This chapter takes stock of the current performance of the Thai financial sector and discusses the future outlook. Section B provides an overview of the current status of the financial system, Section C discusses developments in the corporate sector, while Section D focuses on debt restructuring. Section E then discusses the outlook for the financial system, including an assessment of various sources and types of risk. This includes sensitivity analysis with respect to bank profitability and vulnerability to credit risk, as well as a discussion of portfolio risk. Some final conclusions are presented in Section F.
6. Distressed assets remain high despite the sharp fall in headline NPLs.
Reported NPLs at both private and state banks have dropped substantially from a record high ratio of over 50 percent of loans during the crisis (over 70 percent for state banks), to about 20 percent for the system as a whole (Text Figure).
However, distressed assets remain high, at over 40 percent of all loans. This is because the largest part of the reduction in headline NPLs reflects write-offs and transfers to AMCs (which are included in distressed assets but excluded from NPLs). The reduction in NPLs as a result of debt restructuring has been almost fully offset by new and re-entry NPLs (Text Figure).
Writing-off losses that have in effect already been taken by the bank is essentially an accounting transaction that has no substantive impact on a banks' balance sheet or performance.3 Meanwhile, large transfers of NPLs to effectively off-balance sheet asset recovery vehicles are positive steps towards ultimate resolution of distressed assets. However, establishing a dedicated AMC does not by itself have an immediate and direct impact on a bank's underlying performance and prospects.
7. NPL levels have crept upwards in recent months. The reduction in NPLs has come to a halt this year, in part reflecting a sharp slow down of debt restructuring in the run up to the establishment of the new TAMC. Banks and borrowers alike have been waiting to see the nature of the post-TAMC landscape for debt restructuring and asset pricing before proceeding further with their own private efforts. Meanwhile, first time NPLs continue to arise, albeit at a slowing pace (Text Figure). A sizeable proportion of previously restructured NPLs also continue to fail and revert to NPL status.4 This could reflect in part the weakening economy, but also some unwinding of deals concluded from late 1999 onwards whose initial easy repayment periods have expired. Given that system-wide debt restructuring took off only towards the end of 1999, there is a risk that reentry NPLs could pick up towards the end of 2001.
8. Distressed assets remain particularly high in state banks. State banks' distressed assets account for almost 50 percent of their loans and about half of system-wide distressed assets. This reflects the higher starting levels of NPLs in these banks, especially given that they include a large number of intervened and merged financial institutions. But the problem also reflects state banks' slower progress in debt restructuring as compared with private banks (Text Figure). By April 2001, private banks had restructured about 45 percent of base period NPLs, compared with about 30 percent by state banks.5
9. Private bank regulatory capital is currently well in excess of statutory minimum requirements (Table II. 1). Headline CARs for private banks have remained in the 12-14 percent range throughout the post-crisis period (Text Figure). However, CARs adjusted to reflect the phasing-in of the new provisioning requirements under the revised prudential framework (introduced in June 1998) have been lower. Currently, underlying capital is higher than reported capital (reflecting provisions from restructured debt that have yet to be reversed into capital). This explains why the adjusted CAR had risen above the headline CAR by end-2000. Private banks have raised over $10 billion in new capital since the crisis, amounting to a cumulative total of about 16 percent of their average risk weighted assets. Of this about $2 billion is in the form of hybrid capital instruments (the so-called SLIPS and CAPS), while about another $2 billion is in the form of public capital support through the Tier-1 scheme.6 The hybrid capital instruments are part of Tier-1 capital and maybe used to reserve against losses. However, they cost on average 12 percent per year, rising to about 24 percent per year when the bank declares a dividend. Given this potential expense, banks are likely to issue new capital to refinance these hybrid instruments at the earliest possible opportunity.
10. State banks' capital adequacy has been boosted by public capital injections, as well as by the guaranteeing of NPLs transferred to asset resolution vehicles. CARs for KTB and Bank Thai are now almost 20 percent, reflecting public recapitalization, and the takeover of their NPLs by state-owned AMCs/covered asset pools. The remaining intervened banks continue to have a negative capital position, despite some public capital injections, reflecting the large level of losses remaining to be recognized in these banks. The authorities currently plan to split off the bad assets of these banks and then have the government pension fund directly recapitalize the remaining good bank.
11. The large capital raising effort by private banks is reflected in the substantial coverage against potential losses accumulated by Thai banks in the post-crisis period. Private Thai banks built loan loss reserves of almost 40 percent of peak-classified assets. Further, collateral accounts for another 43 percent of peak classified assets. But the concern remains (as discussed below) that while reserves are high, losses may continue to rise, necessitating further capital increases by banks.
12. Banks are also dependent on real estate collateral for a large portion of their loss coverage. Loan loss provisions in Thailand are computed net of collateral which comprises mostly real estate with the bulk held in the form of undeveloped "raw" land (Text Figure). There remains a large glut of supply in the real estate sector, and prices have fallen substantially in very thin trading.7 This raises concerns about the valuation of collateral pledged as security to banks. While appraised values of banks' collateral have reportedly fallen, the concern remains as to whether they have adequately adjusted to current market conditions. BOT regulations have been strengthened in this regard, requiring annual independent appraisals. However, appraisal methods in Thailand are not in line with international standards.8 For example, reviews of practice have revealed that appraisers often use the cost approach (even for unfinished projects) as opposed to a direct sales comparison.
13. Commercial bank earnings have improved, with private banks breaking even by end-2000 for the first time in three years (Text Figure). The improvement in operating performance reflects a recovery of net interest income in the context of stable operating expenses. While interest margins have improved, they have been driven more by a reduction in funding costs to historically low levels. Meanwhile, there has been little progress towards a sustained reduction in operating expenses, though the impact of recent staff-shedding exercises by a number of banks may help profitability in the future.
14. The state-owned and intervened banks continued to make losses at the end-2000, including on an operating basis, with overall operating losses of about 1½ percent of assets. This includes income accrued by the largest state bank KTB on the note from its subsidiary AMC whose payments are guaranteed by the FIDF. Excluding such accrued income, cash operating losses at the state banks were ½ percentage point higher at end-2000. Moreover, net losses after provisioning amounted to about 2 percent of assets, with the situation at the intervened banks particularly acute (as they made net losses of 3 percent of their assets at end-2000).
15. Overall, income generation in the banking system remains weak. Profitability could be easily eroded if margins were squeezed, including by further reversion of restructured NPLs and new entry, which could pick up given the weakening macro-economy.
16. Continuing high corporate sector leverage, four years after the onset of the crisis, mirrors the high level of distressed assets in the financial system. Aggregate debt of the corporate sector, at some 150 percent of GDP, remains at pre-crisis levels, and both listed company and SME debt-equity levels are high (Box II.1). As such, all measures of indebtedness, while having fallen from peaks during the crisis, remain close to if not higher than pre-crisis levels, which in any event were arguably too high. Moreover, listed company debt-equity ratios in Thailand are among the highest in the Asia region, notwithstanding the reductions since peak levels during the crisis (Text Charts).
17. The data suggest that small and medium size enterprises (SMEs) are also heavily indebted. While recent information for this sector are not available, manufacturing sector survey data during the period through the first half of 1998, indicate that debt-equity levels were, and are likely still high. SMEs do not borrow extensively from abroad or in foreign currencies, but their indebtedness to domestic banks remains high.
Box II.1.Measuring Corporate Sector Debt
All measures of corporate capital structure point to continued high levels of debt and relatively low levels of equity in the Thai corporate sector. However, reflecting the difficulties in obtaining comprehensive, consistent and up to date corporate sector data in the Thai context, it is useful to consider information from a number of different sources.
Listed company debt levels remain high. Listed company data are most frequently used to illustrate the problems in the Thai corporate sector given the relative ease of obtaining consistent and up to date financial information for these companies. However, in contrast to other Asian countries with more concentrated industrial structures (such as Korea), listed companies provide a less complete view of the situation in the Thai corporate sector given that they reportedly account for a relatively lower share of total manufacturing output and employment. Therefore, it is important to look at other sources as well. That said, it remains useful to monitor listed company performance, especially given that the sample considered here accounts for about Vi of borrowing from the banking system and should thus be fairly representative of at least larger Thai corporations which continue to have high debt-equity ratios.
Aggregate data on corporate debt show that the overall level of debt has not fallen below pre-crisis levels. These aggregate figures were compiled from: (i) monetary survey data on credit to the corporate sector adjusted for lending by BIBF's, transfers to AMC's, and write-offs; (ii) balance of payments data on external borrowing by the corporate sector; and (iii) data on domestic bond issuances by Thai corporates. As such, these provide a comprehensive measure of corporate sector debt, and indicate that total corporate debt remains high at some 150 percent of GDP by end-2000. The overall debt level jumped in 1997 reflecting the effect of the baht depreciation on external debt. The composition of the debt has since changed with the U.S. dollar level of external debt falling (though remaining unchanged as a share of baht GDP given the more depreciated post-crisis level of the baht). The domestic component of corporate debt has remained broadly unchanged and it is this latter which contains the counterpart to the high level of distressed assets of the domestic banking system.
Source: Bank of Thailand, stat Testimates.
Firm level survey data, including of SME's, confirms that debt-equity levels were high, both before and after the crisis. The Ministry of Industry and the World Bank organized surveys of Thailand's manufacturing sector during 1997–99 with a sample covering about 3 percent of manufacturing sector employment. Of the surveyed firms, 2/3 were small, with less than 150 employees. The survey illustrated the continued high corporate debt equity ratios, including for SME's. These ratios had risen slightly in 1997, driven by the baht depreciation, but less so than for listed companies reflecting SMEs' lower levels of foreign currency borrowing.
Source: Office of Industrial Economies, World Bank
18. Debt equity ratios, while high in aggregate, vary widely across sectors. In particular, listed companies in the traded sector appear to have lower levels of debt as compared with those in the non-traded sector (Text Chart). Thus for example, corporates in the traditionally export oriented food processing and electronics sectors have very low debt-equity ratios. Companies with main activities in areas such as real estate development have substantially higher degrees of leverage. This may reflect the debt financing of the asset bubble that has yet to be completely unwound off corporate balance sheets.
19. Corporate sector profitability has improved with the economic recovery, but remains fragile. Real earnings before interest, tax, and depreciation allowance (EBITDA) fell sharply during the crisis, but have since picked up as overall output has recovered from the depths of the crisis (Text Figure). Meanwhile, corporate interest expenses have fallen with the reduction in lending rates and favorable interest rates in the initial phase of debt restructuring agreements. Reflecting the continued low levels of interest expenses and the pickup in earnings, listed company coverage ratios (EBITDA/interest expense, a basic cash flow ratio) have recovered to pre-crisis levels (Text Figure). However, analysis by Merrill Lynch illustrates that a large fraction of listed companies are currently servicing their debts at rates below the prime rate. Thus any increase in interest rates would jeopardize corporate profitability. Addressing this risk adequately will require supportive macroeconomic policies, coupled with steps to deleverage Thai corporates.
20. The CDRAC process to facilitate debt restructuring has largely been completed. The Corporate Debt Restructuring Advisory Committee was established under the aegis of the Bank of Thailand to facilitate debt restructuring, especially in large multi-creditor cases. At its peak, CDRAC was overseeing debt restructuring cases with a value approaching 50 percent of GDP. Of this, over half of the cases have been successfully restructured, though as noted earlier, the sustainability of these restructurings is yet to be borne out. Further, just under half of the cases, worth some 25 percent of GDP, remain to be resolved, and risk devolving on to the already burdened civil court system. Moreover, some of the successfully restructured debt was held by non-resident creditors and thus would have no impact on the measures of NPLs and distressed assets that pertain to the domestic banking system.
21. Debt restructuring by commercial banks appears to have largely involved rescheduling with little deleveraging of borrowers. Comprehensive data on the nature and quality of debt restructuring conducted by banks are not available. This in part reflects the inherent complexity and variety of methods used in debt restructuring deals. Nonetheless, information put together by the BOT on the nature of debt restructuring conducted in a sample of cases indicates that rescheduling, grace periods on debt service, and some interest rate reduction are the most commonly found components of debt restructuring deals (Text Table). The first two methods have in practice typically been crafted in such a fashion as to not imply much net present value (NPV) reduction in the value of the debtor's obligations. While interest rate reductions could in principle imply some reduction in the effective debt burden, anecdotal evidence suggests that here also, many deals involve a reduced interest rate for the first 2-3 years of the revised agreement, with above prime rates for the remaining loan period such that there is no NPV loss to the bank. This is corroborated by the fact that banks have in general reported very low NPV losses on restructured debt (Text Figure). In particular, reported NPV losses on debt restructured by commercial banks during 1998q3–2000q3, averaged only 1.8 percent of the face value of debt restructured by private banks and 0.9 percent on restructuring by state-owned banks.
22. BOT guidelines require banks to fully reserve against losses from debt restructuring, but implementation may be uneven. Under troubled debt restructuring (TDR) guidelines, the loss on TDR should preferably be based on the NPV reduction in projected cash flows. In most cases banks do appear to use cash flow models to determine the actual NPV loss from TDR (which given the factors discussed in the previous paragraph, is typically low). However, in line with international practice (FAS 114), the regulations allow banks to also take into account the collateral value supporting the restructured loan (subject to BOT appraisal requirements). Given concerns with collateral valuation (discussed above), this could result in understated losses on TDR.
Breakdown of Loan Restructuring Methods for Thai Banks(percent of cases using at least one of the below methods)
Debt rescheduling 41 41
Grace period on debt repayment 20 21
Interest rate reduction 22 20
Principal or accrued interest reduction 6 6
Debt-to-assets swap 6 5
Debt-to-equity swap 3 4
Others 2 3
23. BOT guidelines also allow restructured loans meeting certain criteria to be immediately reclassified as pass. This is generous by international standards—typically at least 3–6 months of conformity with the revised debt service agreement is required before reclassification. Even though the specified criteria allowing immediate reclassification aim to ensure that the underlying restructuring is of good quality, this clause opens the possibility for banks to prematurely reverse provisions on these loans (some weaker banks have already reversed such provisions into income). In an environment where re-entry of previously restructured NPLs is rising, this could be of particular concern.
24. Slow progress in debt restructuring reflects the large scale of the problem and weaknesses in the legal framework. Importantly, creditors' power to enforce their claims is undermined by the weak legal framework for bankruptcy and foreclosure (these issues are discussed further in Chapter IV). This creates disincentives for banks to make concessions to deleverage borrowers. For example, it is difficult for creditors to force recalcitrant borrowers to cede some control of their companies in the context of debt for equity swaps. Often, standoffs arise with neither side making the concessions necessary for equitable and sustainable debt restructuring to arise. Also, banks concerned about their capital position and faced with a difficult legal environment, attempt to minimize their upfront losses and the concomitant impact on capital. This can result in a protracted period of negotiation, and may not lead to sufficient deleveraging of the corporates, which in turn could further prolong the debt restructuring process.
1/ Headline NPLs plus loans transferred 10 AMCs/CAPs and write-offs of fully provided (or of collateral) portions of NPLS from bank balance about.
2/ Projected level of NPLs following introduction of TAMC, among an other net change in the level of NPLs.
25. Responding to the slow progress in deleveraging of the corporate sector, the authorities have decided to establish a national AMC.9 The Thai Asset Management Corporation (TAMC) is expected to take on about ½ of system-wide distressed assets, mostly from the state banks. As such, the headline NPL figure for the overall banking system should fall substantially (Text Figure), to around 10 percent of all loans once the TAMC has completed the process of acquiring NPLs, provided there is no new net entry of NPLs. However, the level of distressed assets that will still have to be addressed will remain large, at nearly 40 percent of loans. The TAMC is not expected to have a substantial upfront impact on the private banking sector, though the state banks are expected to have most of their distressed assets removed.
26. Bank profits are likely to remain weak in the near term, and are sensitive to risks of lower margins and the re-entry of previously restructured NPLs. Even with the introduction of the TAMC, the return on assets for private banks is likely not to exceed around 1 percent in the near term, assuming flat loan growth, no erosion of margins, and stable NPL levels. Some sensitivity analysis of bank profits over a 12-month horizon is presented in Table II.2 and highlights the fragility of bank earnings.10 The shocks considered are a reduction in lending spreads and a reversion in NPLs. Either of these shocks would reduce returns on assets by almost 1 percentage point. Indeed, if both shocks were to occur together, interest margins would be halved, banks would again make significant losses, and capital adequacy ratios would be reduced by 2-3 percent over the 12-month horizon considered. The impact on profitability is most acute for the small private Thai banks, though the effect on capital adequacy is more uniform (reflecting that larger banks have lower risk weighted assets relative to total assets than the smaller banks).
27. Banks remain exposed to the risk that losses on their loan portfolios could be higher than currently provisioned. While NPLs have been reduced, much debt restructuring is of uncertain quality, and other NPLs written off and transferred to AMCs remain exposed to the risk of lower collateral values. The sensitivity analysis of bank profitability discussed in the previous section provides a sense of the short-term prospects for bank capital and is also relevant from a cash-flow perspective. However, another perspective on risk can be gleaned by examining the sensitivity of bank net worth to shocks to the value of assets. These exercises can be somewhat arbitrary as ex ante loss rates on banks' asset bases are not possible to estimate accurately. However, some sensitivity analysis in this regard can at least provide a sense of the banks' exposure.
28. Sensitivity analysis with regards to credit losses is indicative of the likely range of additional recapitalization needs that private banks could face in the period ahead. The simple analysis illustrated in the following Text Figures is based on peak levels of classified assets for individual banks. A range of loss rates is then applied to these peak distressed asset levels, with resulting losses offset against available loan loss reserves (current reserves plus write-offs) and capital in excess of the minimum requirement. If the value of losses exceeds the level of total reserves, additional capital will need to be raised. These loss rates can be interpreted as the needed reduction in the NPV of the debt required to conduct sustainable debt restructuring, or alternatively as the discount that would ultimately be achieved on sale of foreclosed collateral.
29. The scenarios suggest that it is not implausible for banks to face additional losses in the future. Loss rates between 40 to 70 percent of peak distressed asset levels generate additional capital needs of between 1-14 percent of risk-weighted assets. These peak losses would only be marginally tempered by the gain-loss sharing arrangements affecting assets transferred to TAMC.11 A "medium" case of 55 percent loss, would imply that private banks as a whole would need to raise additional capital of 6 percent of risk weighted assets.12 As expected, there is considerable variation across banks generated by differences in levels of peak impairment, as well as loss coverage. Small domestically owned Thai banks are exposed to the most significant risk. Meanwhile, the larger private banks are comparatively less exposed, but could still face the need for additional capital of between $1-3 billion. While these amounts are not so large compared to the capital raised by the banks already, the current depressed state of the capital markets would pose a challenge to any efforts to raise additional capital.
30. Since the crisis, banks have substituted out of loans and into government and money market securities, raising questions about portfolio risk. With a stable deposit base, the counterpart to the large decline in loan deposit ratios (from about 120 percent in early 1997 to the current level of 80 percent) has been the build-up in domestic commercial bank holdings of government securities and money market lending (Text Figures). In particular, this raises questions about banks' exposure to an increase in bond yields from the current low levels, particularly given the recent upward shift in the yield curve.
Source. SET; bank statements
Source: SET; bank statements
1/ Excludes KTB AMC Dole
31. However, commercial banks do not currently appear likely to realize substantial losses on their government bond portfolios. Commercial banks hold about 12 percent of their assets in the form of government bonds. However, banks are unlikely to realize large losses as only about 10 percent of private banks' bond portfolios are held in their trading book (just over 1 percent of assets), and thus subject to an upfront charge. It would require substantial increases in interest rates to generate significant losses on this portfolio. Of the remaining bond portfolio, 30 percent are held-to-maturity with another 60 percent classified as available-for-sale, and thus not immediately exposed to interest rate risk. Banks would realize losses on the available-for-sale portfolio only in the event they were constrained to sell in the current market, but with weak loan demand and stable deposit bases, this is unlikely.
32. Commercial bank exposure to foreign exchange risk is closely regulated by the BOT, leaving little scope for losses. Banks have gradually developed a positive open foreign exchange position on their balance sheets, especially driven by the unwinding of lending activities through their BIBFs (which largely sourced foreign currency funding for onshore baht lending). However, the BOT requires banks to match any on-balance sheet open foreign currency position with offsetting off-balance sheet positions such that the total net open foreign exchange position does not exceed 15 percent of banks' Tier 1 capital. As such, banks' net open position is well within the regulatory limit (Text Figure). Within this limit, it would take substantial exchange rate movements to generate significant losses for banks.
Note: Excludes two intervened banks.
33. Thai banks have made substantial strides towards reducing their vulnerability, but risks remain to their capital and profitability. The main source of uncertainty in the near-term outlook is the scope for re-entry of restructured NPLs of questionable quality, as well as a rise in new NPLs because of the weakening recovery. Banks' margins also remain fragile and any rise in policy rates that puts upward pressure on the structure of banks' interest rates would also jeopardize profitability. The introduction of the TAMC will have a positive, but only marginal impact on the private banks' income; however, state banks' performance and capitalization will be boosted more substantially.
34. Slow progress with corporate restructuring is the main source of risk to the Thai financial system. The continued high level of financial system distressed assets is the mirror image of the still very high level of corporate debt. A more pronounced weakening of domestic growth could lead to a vicious circle of deteriorating corporate performance and rising NPLs. Slow growth and increases in the fiscal cost of financial sector restructuring could also add to concerns about the sustainability of public debt. These risks underline the importance of structural reforms to accelerate corporate debt restructuring, particularly in the state bank sector where progress has been slower. In this regard, the TAMC could play an important role but weaknesses in the legal framework also need to be addressed.
35. Finally, although other sources of portfolio risk do not appear significant, private banks may need additional capital if collateral values fall or profitability drops. Banks' exposure to foreign exchange risk is tightly regulated, and their exposure to losses on government bonds is limited. However, the sensitivity analysis presented above suggests that private banks may well need to raise further capital in the future if collateral valuations fall or underlying profitability deteriorates. This risk is heightened by the weakening recovery and any rise in NPLs. However, the need for additional capital is unlikely to be either large, relative to the amounts already raised by private banks, or immediate, as banks currently have excess provisioning and capital.
Table II.1.Financial Situation of Thai Commercial Banks 1/
Foregin
Asset quality
A. Classified assets 2/
(billions of baht) 1,100 616 384 163 68 484
(Percent of total loans) 30 25 23 28 25 38
(percent of total assets) 20 16 14 21 18 28
B Non-performing loans
(billions of baht) 927 588 352 121 115 339
C. Peak classified assets 2/
(billions of baht) 2,689 1,369 978 227 209 1,320
D. Tier-1 capital
(bilions of baht) 266 202 129 49 27 64
E. Provisions needed per end-2000 rules
(billions of baht) 252 33 26 6 1 218
F. Existing Provisions
(billions of baht) 388 160 124 23 13 228
(percent of current classified assets) 35 26 32 14 20 47
Losses written-off (billions of baht) 431 391 291 65 35 40
Provisions and writeoffs (percent of peak classified assets) 30 40 42 39 23 20
Provisions and writeoffs (percent of current classified assets) 60 56 65 47 32 71
J. Collateral 3/
(percent of current classified assets) 111 91 89 90 100 136
(percent of peak classified assets) 45 41 35 65 33 60
K. CAR, percent 11.4 12.0 11.5 12.7 13.7 9.3
Tier-1 7.6 7.6 7.0 7.8 11.2 7.6
Tier-2 3.9 4.5 4.6 4.9 2.5 1.7
L. Number of employees 95,745 64,470 41,768 17,004 6,927 31,275
M. Number of branches 3,817 2,648 1,598 790 324 1,169
N. Total assets (in billions of baht) 5,841 3,930 2,818 786 380 1,911
in percent banking system's assets 100 67 48 13 7 33
O. Total loans (in billions of baht) 4,071 2,603 1770 594 283 1,468
in percent banking system's loans 100 64 43 15 7 36
Risk weighted assets (billions of baht) 3,516 2,719 1,862 629 240 797
Sources: Bank of Thailand; and Fund staff calculations.
1/ Based on December 31, 2000, balance sheet information.
2/ Classified loans, as opposed to loans only overdue by more than three months.
Table II.2.Sensitivity Analysis of Bank Profits and Capital 1/(In millions of baht unless otherwise indicated)
Base case
Net interest to income (quarterly) 4,351 14,953 2,283 1,444 5,075
Net profit (quarterly) 1,814 6,811 −150 354 1,842
Net interest yield (annualized) 2.1% 2.4% 1.2% 2.5% 2.1%
Return on assets (annualized) 0.8% 1.0% −0.1% 0.6% 0.7%
Scenario (i) (1 percent lower lending spreads)
Net interest income (quarterly) 2,685 9,534 990 1,008 2,963
Net profit (quarterly) 147 1,392 −1,442 −81 −270
Return on assets (annualized) 0.0% 0.2% −0.8% −0.1% −0.1%
Scenario (ii) (33 percent NPL reversion)
Net interest income (quarterly) 4,140 14,287 2,019 1,345 4,874
Net profit (quarterly) −155 598 −2,613 −564 −38
Return on assets (annualized) −0.2% 0.1% −1.4% −0.9% 0.0%
Scenario (iii) (lower lending spreads and NPL reversion)
Net interest income (quarterly) 2,474 8,868 726 910 2,761
Net profit (quarterly) −1,822 −4,821 −3,906 −1,000 −2,150
Net interest yield (annulized) 1.2% 1.4% 0.4% 1.6% 1.2%
Return on assets (annualized) −1.0% −0.7% −2.0% −1.6% −0.9%
Tier-1 Capital Adequacy Ratio
(changes from base case)
Scenario (i) −1.2% −1.2% −0.8% −0.9% −2.1%
Scenario (ii) −1.3% −1.2% −1.5% −1.7% −1.6%
Scenario (iii) −2.5% −2.4% −2.3% −2.6% −3.8%
Sources: SET, Société Générale Securities Research; and Fund staff estimates.
1/ The analysis here excludes the state-owned Bank Thai and intervened banks BMB and SCiB.
Prepared by Vikram Haksar.
Further details of developments during the crisis and the ensuing reforms can be found in, Financial Sector Restructuring, Chapter III of the Selected Issues paper for the 1999 Article IV Consultation discussion (SM/99/304).
Under BOT regulations, banks are required to write-off from their balance sheets the provisioned portion of NPLs that have been classified as loss for 12 months. The write-off represents the very low likelihood that the bank will recover the loan, and is thus a fuller recognition of the loss that had been provisioned. The bank continues to maintain its full legal claim on the debtor, and will continue to calculate accrued interest and other penalties that may be included as part of any ultimate debt restructuring deal.
The monthly flows might appear small, and there should in any event be some entry and exit of NPLs in the financial system under a normal steady state situation. However, monthly new and reversion NPLs combined have been averaging about 0.8 percent of loans outstanding in recent months. This would imply that over the course of one year, NPLs could rise by a sizeable 10 percent of loans, all else being equal.
October 1999 is chosen as the base period as data giving a break-down of debt restructuring by private and state banks is available only from then onwards.
See Financial Sector Restructuring, Chapter III, SM/99/304 for a discussion of hybrid capital instruments as well as a description of the Tier-1 capital support scheme.
The pre-crisis asset bubble was particularly severe in the real estate sector with a substantial increase in construction activity reflecting rapid credit growth to the construction and property sectors, particularly from the finance companies. While overall asset prices have fallen substantially since the crisis, real estate valuations remain difficult to ascertain given the extremely low level of actual transactions currently taking place.
This issue is discussed further in Developing the Valuation Profession in Thailand (1999), a White Paper commissioned by the Securities Exchange Commission of Thailand and undertaken by the Royal Institution of Chartered Surveyors Thailand Group.
Chapter III provides a detailed description and assessment of the structure of the TAMC, including details on the impact of the TAMC on private banks.
Net interest income (and implied yields/spreads) in the base case is derived from financial statements as of 2000Q4. Net operating non-interest income in the base case is assumed to be the average in 2000. In Scenario (i) the spread on performing assets (excluding restructured loans which are assumed to yield 3 percent across the board) is lowered by 100 basis points. In Scenario (ii) 1/3 of restructured NPLs are assumed to revert in a 12-month period through end-2001. These NPLs are assumed to have 50 percent collateral cover, and to require 50 percent provisions net of collateral. Accordingly, provisioning charges arise. Scenario (iii) combines scenarios (i) and (ii). In all scenarios, baht figures for quarterly net interest income and net profit are provided. These baht figures are also scaled by the appropriate lending/asset measure to provide ratios in all cases. Finally, the implications of these scenarios for the Tier-1 capital ratio are derived for a 12-month period. The analysis here takes into account the TAMC's impact on the banks.
For example, at an assumed loss rate of 60 percent, private bank unassisted capital need would amount to baht 240 billion, while the gain-loss sharing with TAMC would reduce this only by about baht 37 billion. Further details are presented in Chapter III.
The total capital raised by private banks since the crisis amounts to about 16 percent of their average risk weighted assets.


A vibrant, neon city teaming with life, Hong Kong's exotic locations and busy streets and markets hide one of the most powerful and dangerous criminal organizations in the world: the notorious Triads. Play as Wei Shen – the highly skilled undercover cop trying to take down the Triads from the inside out. You'll have to prove yourself worthy as you fight your way up the organization, taking part in brutal criminal activities without blowing your cover.
Destroy your opponents in brutal hand-to-hand combat using an unmatched martial arts system. Dominate Hong Kong's buzzing streets in thrilling illegal street races and tear it up in explosive firearms action. Sleeping Dogs' Hong Kong is the ultimate playground.
To access your digital Sleeping Dogs Definitive Edition Artbook, please install the game, then navigate to the game folder on your hardrive within which should be a folder titled "Artbook".
��째징 쨩챌��: * The following graphics cards are not supported: AMD Radeon HD 4xxx series, AMD Radeon HD 5xxx series, ATI X1xxx series, ATI HD2xxx series, Intel Iris 5100, Intel HD5000, Intel Iris 6100, Intel HD5300, Intel GMA series, Intel HD3000, Intel HD4000, NVIDIA 1xx series, NVIDIA 9xxx series, NVIDIA 8xxx series, NVIDIA 7xxx series and NVIDIA 3xx series.


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Fashion Finds October 05, 2019 at 04:00 pm
Meet the only African designer showcasing at the global Qipao fashion exhibition in China [Photos]
Nathan Tollo October 05, 2019 at 04:00 pm
October 05, 2019 at 04:00 pm | Fashion Finds
Meet the Ghanaian accessories designer bringing authentic Adinkra symbols to the boardroom
Ghanaian fashion designer Ophelia Crossland
Ghanaian fashion designer Ophelia Crossland was the only African designer selected to take part in the 2019 Qipao Invitational Exhibition at the National Silk Museum, Hangzhou City, China.
The event is under the auspices of the China National Silk Museum, a leading fashion museum located close to the famous West Lake in Hangzhou, China and is under the theme "Weddings".
Her selection comes at a time when African fashion is enjoying the attention and a major boost in the global fashion industry.
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Crossland was selected alongside 9 other designers from the UK, France, Russia, Japan, South Korea and Japan to showcase at the event.
An award-winning designer with 16 years of experience under her belt, Crossland's initial sketch was selected out of close to 5,000 sketches that were submitted to the jury this year.
Ophelia, who has made outfits for key personalities in Ghana, including the country's female Chief Justice and a former First Lady, was selected alongside 9 other designers from the UK, France, Russia, Japan, South Korea and Japan to showcase at the event.
Ophelia has made outfits for key personalities in Ghana
Speaking on the lines of the exhibition's opening ceremony, Ophelia Okyere-Darko, Creative Director of Ophelia Crossland, said the selection was a big win for Ghana's culture.
"I'm excited to have been given the opportunity to showcase Ghana on this international platform," she told the media. "I believe this is a matter of pride and honor for myself and the continent as a whole."
The Qipao gown, a formal gown worn on special occasions by Asian women.
Ophelia Crossland uses the iconic Ghana Kente and other indigenous fabrics sourced from Africa, as well as, other advanced techniques in fashion design to create the Qipao gown, a formal gown worn on special occasions by Asian women.
"For me, Kente represents the country best and so when we were asked to take up the Qipao challenge, I had no option than to use the intricately woven Kente and it kept really well," she said.
The Qipao gown
The Global Qipao Invitational Exhibition began on September 29 and will last for a month. Its aim is to provide cross-boundary interactions between culture and tourism, tradition, fashion, art and life.
Ophelia Crossland uses the iconic Ghana Kente and other indigenous fabrics sourced from Africa, as well as, other advanced techniques in fashion design to create the Qipao gown
The Gallery is currently the only institution with a permanent fashion gallery in the world housing a collection of over 40,000 pieces of Western and Chinese textile productions spanning over 4000 years of human creativity.
Man exonerated in the killing of Malcolm X is suing New York state for $20 million

redpajama_set_name: RedPajamaCommonCrawl


i used to want to tell you everything, to put it all out there for everyone to see. the good and the bad. mostly the bad to satisfy my melodramatic story telling skills. i'm not 100% sure when this changed but i went through some transformation at some point and now i just don't. i want you to know all the wonderful things, the way i want to cry sometimes because i'm so happy. i want you to know that i have met the man i am sure God created for me. i want you to know, most of all, that i have fallen in love with life. not that there was ever a time when i didn't love my life, but there were times when i was sure that the uphill struggle was part of some learning process. and that the sadness, or sometimes relief, i felt after every bad relationship was part of the journey. i see now i did it to myself.
i am working exactly the schedule that i want right now, looking to get some part time work doing home health or hospice care for a little extra vacation money. i applied for my passport yesterday so that in august my boyfriend and i can go somewhere exotic.
as for my boyfriend....can i brag a little? ;) i remember the night i saw him in the ER where i work. i looked up and there he was, across the nurses station looking directly at me. it's as if the whole world stopped for a brief second. i didn't smile at him, i just looked. i remember that night a patient of mine died and i was heartbroken for the family. one second the patient was talking with his family, laughing. we asked the family to leave the room to do a routine procedure on him and when we started his heart went into a fatal rhythm and a couple of minutes later we pronounced him dead. sometimes things like that don't get to me, that night i cried. i felt responsible for him. but it made me feel ultra-romantic, the way i get when someone dies...when i remember that life is too short and that we should take advantage of every moment. after that i walked over to the area where my at-the-time future-boyfriend was and made a flirtatious comment, smiled and walked away.
6 months later, almost, here we are. madly in love. and i just can't quit smiling.
and my favorite, on easter sunday at brunch.


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You are at:Home»News»Boise City Council votes on a resolution to condemn white supremacy
Boise City Council votes on a resolution to condemn white supremacy
By Marcos Guadarrama	 November 2, 2019 No Comments
Graphic by Maddie Ceglecki.
The Boise city council voted unanimously on a resolution to condemn white supremacy on Sept. 24. The decision was made after a push from United Vision for Idaho, an organization dedicated to working to advance social, economic and environmental justice at the local, state and national level.
The resolution, which condemns hate and denounces bias and hate in all forms, commits to ensure that civil and human rights are extended to all individuals in the city of Boise and affirms Boise's commitment to peace, respect, inclusivity and equity for all.
"We wrote and worked with the City of Boise to propose an ordinance denouncing white nationalism and white supremacy," said Adrienne Evans, executive director of United Vision for Idaho. "The ordinance was unique in centering Native and Japanese internment as well as the systemic and continuing discrimination facing Black and Latinx populations through institutions and policing."
The ordinance includes a provision for the city to expand and deepen their training for all city employees.
The organization has a long history of working with elected officials to advance policies that are critical for Idahoans.
"It was important to us that the ordinance begin with the state's capital city," Evans said. "We have always been met with respect and openness by the mayor's office and we spent months working to ensure that the language of the ordinance met the needs of all parties."
United Vision for Idaho was pleased with the way the city council and mayor handled the language and passing of the ordinance. They plan to continue working with other cities across the state to pass ordinances denouncing white nationalism and white supremacy.
City council president Lauren McLean felt the ordinance was necessary for the city of Boise to adopt.
"I believe it was important to pass this resolution to make clear that our residents oppose hate in all forms, recognize injustices of the past and strive to be a more welcoming and inclusive community," McLean wrote via email. "The actionable effort would create change and a city-wide way to act on the words and values expressed in the ordinance."
Students at Boise State University felt the ordinance was a good step in combating white nationalism. Victoria Mayer, president of Boise State College Republicans, said she supports the city council's decision.
"MLK said, 'Judge a man not by the color of his skin, but by the content of his character,'" Mayer said. "I support racism being condemned, as racism is not tolerated by myself or any College Republican at Boise State."
Ben Adams, a senior studying political science believes that while the resolution doesn't carry strict consequences, it still shows the importance of introducing this type of language to the Boise community.
"A resolution is not binding, but it does show Boise's efforts of treating people like people and not superficial descriptions," Adams said.
Adams explained the ordinance is a sign that Boise is not only accepting of diversity but that the city is ready to continue growing.
"With the way Boise is growing we're becoming a more diverse demographic, especially in the urban areas," Adams said. "And it's a good base, and a good sign that the city of Boise is prepared to grow."
The necessity of this ordinance was questioned again. Adams would like to see how this language has been accepted in other cities across the country and if there was any type of backlash.
"If they haven't received backlash from these groups, how beneficial or necessary is it passing a resolution like this to a community," Adams said.
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Marcos Guadarrama
Boise State freezes tuition following 2020 budget cuts


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Shuckri Bundakji
Chief Executive Officer DNMconnect
Shuckri Bundakji is the CEO of DNMconnect, a business development advisory company servicing Chairman/CEO level decision makers in a variety of industries operating between Middle East and Asia. He is also Deputy CEO of Initial Saudi Arabia Ltd, an Operations & Maintenance company that employs over 9,000 staff in the Kingdom. Formerly, he was regional CEO for SonyBMGwhich was a Bertelsmann AG joint venture that he established. Leading to that he held chief executive roles in Savola, an agro-industrial company and prior to that with Kraft Foods. Earlier in his career, Shuckri undertook engineering and project management assignments in Saudi Arabia and USA employed by Raytheon, Holmes &Narver (AECOM) and Boeing Aerospace respectively. Shuckri is Regional Education Chair of the World President's Organization (MENA) and was founder and regional chairman of the International Federation of Phonographic Industries (IFPI). Shuckri has a BSc. in Civil Engineering and minor in Industrial Management from the King Fahd University of Petroleum & Minerals, Saudi Arabia.


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Laurence, pediatrician for the NGO La Chaîne de l'Espoir and Justine, health mediator for Première Urgence Internationale conduct their humanitarian support program in slums in the Parisian suburb: L'Haÿ-les-Roses and in Vitry, Val- de-Marne. They provide psychological support to children, raise awareness on how the virus spreads, and give advice on how to stay safe during the COVID-19 pandemic.
Many migrants, often coming from Eastern Europe, are cut off from the official information supplied by the French Government about the pandemic, meaning they do not take precautionary measures. Masks and gloves are not worn because the loss of mobility and lack of means related to confinement. Access to potable water does not exist, and sanitary conditions are minimal.
Première Urgence Internationale distributes the essentials needed to stay as safe as possible during the outbreak as well as provides the necessary items to improve hygiene conditions, and thus improve public health.
These people, vulnerable in many ways, have been subjected to systematic violence and discrimination throughout Europe. With the advent of COVID-19 in Paris many migrants left their homes, sometimes little more than tin shacks, in France's slums behind. Local authorities said these sites posed an unacceptable risk to health and safety, ultimately leading to the partial destruction of slums throughout the city and leaving the migrant population even more vulnerable.
Find out more: https://www.premiere-urgence.org/en/mission/france/
George Nickels
George Nickels is a freelance photojournalist and has been working throughout South East Asia and Europe since 2011. The primary focus of his work is covering social conflict and humanitarian issues with his work published in the leading newspapers, magazines and media outlets worldwide.
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HomeUncategorizedspotted dove habitat
spotted dove habitat	Leave a comment
Spotted dove is a shy bird. It forages alone or in pairs, but flocks of several can be seen at food rich site. The Spotted Dove is one of the largest doves seen in North America. They can occasionally be found in openings within native forests (Richardson and Bowles 1964, Scott et al. These doves occur naturally throughout Southeast Asia. : Markings: obvious streaks, spots and/or showy. Description. This dove has pale brown upperparts, which have dark buff streaks. The Spotted Turtle-dove is an introduced species which has settled into Australia; it is rapidly spreading and is widely regarded as a pest. Found mostly in altered habitats of suburbs, especially well-watered areas with trees and lawns. Photo about Spotted dove perching in natural habitat. On back of neck, it has black patch finely spotted with white. Your email address will not be published. It is not seen in dense forest areas. Breast is pale pinkish grey. The nest is often flimsy. 1986). Save my name, email, and website in this browser for the next time I comment. Both male and female take part in building the nest. Joseph Chai a.k.a. The species has also been introduced in other parts of the world, including Australia and New Zealand. They were introduced in the Los Angeles area of California in 1917, and have become established, with a range that has slowly expanded to include a small part of southern California. When doves cry, it speaks to the deepest parts of your being and stirs up your emotions. As this will confirm the messages of the spotted dove. The spotted dove (Spilopelia chinensis) is a small and somewhat long-tailed pigeon that is a common resident breeding bird across its native range on the Indian subcontinent and Southeast Asia.The species has been introduced into many parts of the world and feral populations have become established. It is a rain song, and a bringer of hope and new beginnings. Both sexes are similar. Flor. Since they were introduced into Australia in the 1860s, Spotted Doves have been very successful, expanding their range greatly to occur right along the east coast, as well as in parts of South Australia and Western Australia. It was introduced into Australia in the mid-1800s and early 1900s and quickly became established. Its general build is stocky, with relatively short wings and a rather long, broad tail. Their coloration also varies drastically in brightness. The dove spirit animal is a representation of the maternal instinct. It is now a common sight throughout eastern Australia, and around the major towns and cities in southern and south-western Australia. Males also court by walking in front of the female with the black and white neck patch fluffed up while bowing the head up and down. Wings and white-tipped tail of the spotted dove are more rounded than that of mourning dove. These doves are mostly found on the ground where they forage for seeds and grain or on low vegetation. Coming to the reproduction, the female dove birds mostly lay two eggs at a time. By BirderPics	HABITAT: Spotted Dove is often near human habitations. The use of the term turtle in this pigeon's common name is derived from the sound of its call; the bird has no association with shelled reptiles. It is also called the Spotted Turtle Dove, Mountain Dove, Pearl-necked Dove or Lace-necked dove. In flight the white-tipped tail is clearly seen. Required fields are marked *. In this article we will explore where to spot this bird, and learn more about its habits and habitat. It is a monogamous and breeds year around. Spotted Doves are mostly light brown above, with darker centres to the feathers of the back and wings. Fun Facts for Kids A dove has special feathers on its body, which disintegrate to produce a sort of powder, for cleaning and lubricating... A Spotted dove produces "pigeon milk". In territorial and courtship display, male flies up steeply with noisy clapping of wings, then glides down in wide circle with wings and tail fully spread. The birds are seen alone or in small flocks, feeding mostly on the ground. Distribution / Habitat. Spotted Dove's call is a sonorous cooing "kou-kour-kour", a low "coo-croo-coo", a soft "te-croo-croo", and three notes "coo-coo-croo" with emphasis at the end. Spotted Doves feed on grains, seeds and scraps. The Black-billed Wood Doves occur in the drier parts of tropical Africa, north of the equator. Native to southern Asia, this dove was introduced into the Los Angeles area of California around 1917. HABITAT: In its native range, this dove is found in forests, around farms and scrublands, and urban environments. 1986). Photo about The Spotted Dove living on ground in the park. It readily consumes bird seed and bread, as well as feeding on the seeds of weeds. Image of alive, habitat, spotted - 182969724 Learn about commonly found birds in your neighborhood, get photography tips and start your birding journey with this free book. Handbook of Australian, New Zealand and Antarctic Birds, Volume 3 (Snipe to Pigeons). Are there any distinctive features about the bird? Habitat. Both sexes share the incubation of the eggs and the rearing of the chicks. Introduced populations have also... Subspecies and Ranges:. Spotted dove can be seen in mountains, urban areas, sub-urban areas, rural areas. Incubation period is of 14-16 days and both parents incubate the eggs. Female lays one or two eggs. The Spotted Dove was originally named Columba chinensis by Scopoli (Scopoli. The Spotted Dove, also called the Spotted Turtle Dove, is a small pigeon found in tropical regions of southern Asia. Some doves are uniform in color, while others have many different colors and patterns. The Spotted Dove is a medium-sized stocky dove with square-tipped tail. It also can be found in gardens, woodlands, farmlands. Legs and feet are red. Head is pale pink to grey. Its bill is black. It frequents countries to mountains, villages, suburban areas and gardens. The Spotted Dove was first introduced to Melbourne in the 1860s and there have been several subsequent releases to other Australian cities. It builts nest in trees or in bushes near open area. Young ones fledge in about two weeks. The species has not spread far from urban areas, probably because of a lack of suitable food. Also found around farms, and in groves of trees (including eucalyptus) along streams. You may have went through some recent changes, and the angels wish to let you know that it is time to move forward now. In India it tends to be found in the moister regions, with the laughing dove (S. senegalensis) being commoner in the drier areas. Young bird is duller and lacks the patch on back of neck. (1786). The Spotted Turtle-dove - Streptopelia chinensis - has a grey head, tinged pink. Close Scopoli 1786) on the basis of specimens from Canton, China. It is not seen in dense forest areas. Once the bird reaches a height of about 30 or 40 m above the ground, he then spreads his tail and wings and glides down to a perch. Faun Insubr., fasc. Reader's Digest Complete Book of Australian Birds, Your Garden: How to make it a safe haven for birds, Other Areas Nearby: improving the landscape for birds. There is another, closely related dove that has been introduced to Australia - the Laughing Dove, S. senegalensis, found in the south-western corner of Western Australia. Unlock thousands of full-length species accounts and hundreds of bird family … The Spotted Dove (Spilopelia chinensis) is a small and somewhat long-tailed pigeon which is a common resident breeding bird across its native range on the Indian Subcontinent and Southeast Asia.The species has been introduced into many parts of the world and feral populations have become established. The Latin genus name 'Spilopelia' is from Greek and means 'spotted' 'dove', and the species name refers to China. Its tail is brown and long with white tips. Winners of Birderpics monthly photo contest October 2020. Aggregations of up to 100 or more Young Spotted Doves are similar to adults, but have a mostly dark grey collar instead of black and white. Mostly they live happily in woodlands and tropical forests. These birds are typically year-round residents in these warmer climates. Its preferred habitat includes open forests and cultivated farmland. These wood doves are closely related to the similar Emerald-spotted Wood Doves, Turtur chalcospilos and Black-billed Wood Doves, Turtur abyssinicus - all of which have partly overlapping ranges, but don't appear to interbreed. It is very rare when it … Spotted turtles live in small, shallow bodies of water, such as bogs, marshes, fens, coastal wetlands and small ponds. Scientific Name: Spilopelia chinensis Malay Name: Tekukur Jerum Chinese Name: 珠颈斑鸠 Range: Found from the Indian subcontinent to southern China and Southeast Asia Taxonomy: Polytypic. The spotted dove in its native range in Asia is found across a range of habitats including woodland, scrub, farmland and habitation. Habitat: The mourning dove is common in urban, suburban and rural areas. It is native to India and found throughout Southeast Asia. They all have a similar shape, though their plumage varies drastically from species to species. Delic. Nape and back of neck are black, spotted white. The word pigeon is often used to call the larger species, while the dove is for … {"cookieName":"wBounce","isAggressive":false,"isSitewide":true,"hesitation":"","openAnimation":"bounceInDown","exitAnimation":"bounceOutDown","timer":"2000","sensitivity":"","cookieExpire":"7","cookieDomain":"birderpics.com","autoFire":"","isAnalyticsEnabled":false}, Click to share on Facebook (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window). Habitat: The Spotted Dove is common around human habitation and can easily be seen in parks, gardens and agricultural areas. Some birds stay in the same area all year round, while others move around local areas. Image of spotted, perching, plant - 121943079 The most common call is a musical "cocoo, crooor". It is now recognized on the ABA list, since the birds of Hawaii have been included by … The head is grey, and the neck and underparts are grey-brown, tinged with pink. Yes, they are therefore found everywhere except the truly harsh areas, like desert and Antarctica. Spotted or Spotted Turtle Doves Distribution / Habitat. rooster posted his experience with a pair of Spotted Doves (Streptopelia chinensis) nesting outside his highrise apartment in September 2009.Through the courtesy of Wilson Wong, we got in contact with Joseph who gave us permission to post his images.. Because of the abundant greenery around the apartment building, there was an abundance of bird life. The Spotted Dove is a bird that is native to south Asia. They may be found in India, Sri Lanka, southern China and throughout southeast Asia. Most doves have relatively stout bodies, with short legs and short beaks. It also can be found in gardens, woodlands, farmlands. Spotted Doves inhabit rural and urban areas commonly to 1200 m, less commonly at higher elevations up to 2300 m (Schwartz and Schwartz 1949, 1951c; Berger 1972, 1981; Scott et al. Habitat: Best places to spot Spotted Dove Spotted dove can be seen in mountains, urban areas, sub-urban areas, rural areas. Some seeds may be taken in trees and bushes, and birds often enter animal houses, such as chicken coops, to feed on the commercial food. Spotted dove feeds on seeds, grains and low vegetation. Sexes are similar in plumage. These turtles move short distances overland to lay their eggs or between overwintering and summer habitat. May 30, 2016 2:94. This is an introduced bird species from southeastern Asia that is found mostly in one area of the city of Los Angeles, California. Eyes are reddish brown. It has also been introduced to many other parts of the world. Spotted Doves breed at any time of the year, but most activity is from September to December. Spotted Dove [Streptopelia chinensis] Symbolic Meaning Keep listening to your highest self, and the angelic guides. The distinguishing feature is the large black collar on the base of the hind-neck, which has many white spots. Since then it has gradually spread, occupying areas north to Santa Barbara and Bakersfield and south to San Diego. It is slightly smaller, measuring around 25 cm - 27 cm. The male performs a display flight, which consists of a steep rising flight with loud wing-clapping. July to January; can breed all year round. No Comments. Your email address will not be published. The nest is a loose platform of sticks, which may be placed in a variety of locations. For example, the African collared dove is a uniform tan color, while the pink-headed fruit dove has a bright pink head and neck, a wh… When perched, male displays by bowing and cooing, lowering head to show off spotted collar. ornithological practice. Where introduced it is sometimes competing with native doves … Spotted Dove 15 September 2015 / 0 Comments / in Birds of Tilligerry Habitat , Common , Pigeons / by Tilligerry Habitat Latin name: Spilopelia chinensis This bird is also called as pearl-necked dove or lace-necked dove due to distinctive marking on its nape. The Spotted Dove is native to eastern Asia. The Laughing Dove also lacks the black and white collar, instead having a black and copper-brown patch on the base of the throat. The laughing dove (S. senegalensis) and spotted dove (S. chinensis) have also been introduced outside their native habitats. … Spotted dove is non-migratory bird. The Spotted Dove is common around human habitation and can easily be seen in parks, gardens and agricultural areas. The dove symbolism resonates with the Mother Earth, and the veil that separates the physical world from the spiritual world.
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I stopped in at the Hitchhiker Brewing Company in Pittsburgh, Pennsylvania and tasted the Roadie IPA which I really enjoyed. It was well balanced with the hops and malt. Not too hoppy. Very drinkable. I also tried the seasonal Festbier. The Drifter #004 Keystone Common does taste a good bit like Anchor Steam. Finally, the Tumbleweed brown ale was absolutely delicious. I would have like to have brought home a growler of this. I'll definitely be looking forward to stopping in again the next time I am in Pittsburgh.


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Malaysian Traditions When Moving Into a New Home
In Malaysia, the traditions for moving into a new home can be as diverse and vibrant as the nation itself.
Lifting House
Let's begin with one that may be on the verge of ending up in history books rather than one that can be observed firsthand anymore. And that practice is the "Angkat Sumah" or "Lifting House" tradition. The tradition exists among the Kampung people and is done when there is a birth or death in the family when the land has been bought or sold, or in some cases, just because people need to move but don't want to leave their home behind and find a new one!
The tradition involves lifting up a traditional style Malay house. Really! Using bamboo poles to lift the wooden houses that are already suspended on large pillars, an entire village works together as a community to literally lift the house up and carry it elsewhere! In 2018, the Malay enjoyed this practice once again in Perak.
House Lifting in Perak
Often times the community leader of a village like an imam or village elder would announce to the community that an Angkat Sumah would take place soon. Next, the community would gather, lift the house and as a team haul the whole thing to the new location under the guidance of a "Tekong" who would give directions and warn of any obstacles ahead. After, the whole team and the families would have a housewarming party with food and drinking! Some other traditions depend on ones religious beliefs, too.
Muslim Prayers
For Muslims when moving into a new house, doa or prayer is recited three times. Next, the residents thank Allah by saying, "Masha Allah" meaning you are thanking Allah for the beauty of your new home. A final prayer or Surah al Baqarah is recited to banish the last of any evil spirits that may be lurking in the new home. Next, a housewarming party known as a "waakerah" is enjoyed and used as a way to thank Allah for the new home.
Chinese Fengshui
For many Malays of Chinese descent who may be Taoists or Buddhists, a Feng Shui master may be consulted who will pick an auspicious day to move. The head of the household will carry a container of rice and two lucky red packets to the new house. Each member of the family will also carry some auspicious items into the house. Sometimes a pineapple is even rolled into the house to welcome in prosperity and wealth. All the lights and water are turned on to welcome in good luck, and new brooms are purchased so no old dirt and thus old evil spirits are brought into the house. And lastly, a sweet dessert will be enjoyed by the family.
There are several more Chinese traditions when it comes to moving into a new home. You can read more about this in the below article:
Hindu Traditions
For Hindus in Malaysia, a Griha Pravesh ritual may be conducted. This includes setting up a prayer room and displaying a picture of one of the gods and an oil lamp is set up. For Hindus, an auspicious day will also be chosen based on the Hindu calendar. Doors are left open and lights turned on, the head of the household will light the lamp and a container with water from the old house, Ganges water, turmeric, and cow urine will be kept among some of the other holy items. Priests may be brought in to perform more sanctifying rituals or prayers may be done with the family. Milk is then boiled until it overflows in a brand new pot, and the cream is offered to the family's patron god while the rest is served to guests. As for the container of holy water? It is sprinkled around the house to banish evil spirits and negative energies.
These practices may be observed by Malays all over and certainly add to Malaysia's rich cultural tapestry.
Bunyan, John. "Moving House, the Communal Way: Malay Mail." Malaysia | Malay Mail, Malay Mail, 20 July 2018, www.malaymail.com/news/malaysia/2018/07/21/moving-house-the-communal-way/1654443.
Editor, Propsocail. "Different Traditional Rituals for Moving into a New House." PropSocial, PropSocial, 1 June 2016, www.propsocial.my/topic/629/different-traditional-rituals-for-moving-into-a-new-house-posted-by-propsocial-editor.
Noor, Sabrina. "Inside the Dying 60-Year-Old Tradition Called 'Angkat Rumah' (…and How It's Actually Done)." CILISOS, 24 July 2018, cilisos.my/you-wont-believe-how-this-kampung-moved-a-6-tonne-house-with-their-bare-hands/.
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'Quick peak may limit 3rd wave's impact on economy'
1 week ago THEWORLDLIVENEWS.COM
Rating services pioneer Crisil, which transitioned into a global analytics company, now derives just 15% of its business from credit ratings. Its new MD & CEO Amish Mehta in an interview told TOI how the agency has retained growth numbers despite the new Covid variant. Mehta until September 2021 had led the company's acquisition and change agenda as president & COO.
How do you see the impact of the 3rd wave of Covid? Has Crisil revised any forecasts?
If you see how the Omicron wave happened in South Africa, there was a quick rise in infections and then a quick peak-out. If that's what happens in India, we will see limited impact compared with the delta variant. To be sure, the contact-based services sector will be affected relatively more because people will cut down on travel and there will be fewer public events. Our forecast for India's GDP growth this fiscal is 9.5%. We expect some adverse impact in the fourth quarter due to Omicron and high-base effect. For the next fiscal, we are projecting a GDP growth of 7.8%. We expect the services sector to pick up decisively, leading to broad-based growth.
Markets have been resilient despite the 3rd wave… Is it just liquidity that is driving values?
I feel a couple of things have been playing out. The first, of course, is easy liquidity. The second is that through the pandemic, marketshares have consolidated. Smaller companies have lost out due to supply chain disruptions, funding issues, and lack of business-continuity plans. Another interesting aspect is that consumers seem to be focusing more on quality and reliability than price. That is why you see the top two or three companies in each sector doing well.
As the CEO, What are your priorities at Crisil?
If you look back, we have grown both, organically and inorganically over the past decades. Sustainable growth remains our clarion call. As for priorities, I would like to flag three: Continuing to attract and retain top-draw talent; being future-ready; and, leveraging our institutional capability and data to deliver actionable intelligence to our clients. The other important priority is cyber risk.
Sebi requires rating agencies to track IPO end-use. How do you see this role?
Yes, this is a new area for us. It's something that banks and financial institutions (FIs) have done earlier. I feel this shows the regulator's confidence in the ability of rating agencies to carry out such a critical activity. We are working on our systems and processes to deliver this effectively.
Are companies more sensitive to downgrades because of the insolvency process?
That's a great question, and I think it's fair to surmise that the Insolvency and Bankruptcy Code (IBC) has established a deterrent — that promoters can even lose their indebted companies if they remain in default. This has improved credit discipline, and we see more intent towards timely servicing of debt. When the pandemic began, there was talk about how things would go downhill for businesses. But timely interventions by the government and the RBI, lenders and corporates themselves have mitigated a lot of the impact.
Additionally, many companies have used cash flows to pare debt. So one can say companies have become more sensitive to default because the credit ecosystem is now far more stringent on defaulters. This should help deepen India's corporate bond market where high priority is accorded to credit discipline.
On a separate note, issuers and borrowers in general tend to be sensitive to non-default downgrades. But mature organisations appreciate that downgrades only reflect the relative weakness in their ability to service debt in a timely manner.
What are the emerging trends you see in the corporate sector?
Since the pandemic began, companies have been investing to create robust and diversified supply chains, accelerating digitalisation on the customer-experience side, and automating processes. The ongoing data explosion is also leading to greater demand for AI and machine language-based solutions.
I am also seeing sustainability rapidly becoming an important agenda for corporates. Banks and FIs are integrating environmental, social and governance (ESG) factors into their risk frameworks for investment and lending decisions.
How do you see the push towards sustainability playing out?
After investors and climate activists, consumers are also increasingly raising sustainability issues. They say it is not enough that a company has good products. They want companies to adopt responsible practices such as ESG. However, the biggest challenge in India is availability of relevant information.
Globally, regulators are working towards improving corporate disclosure norms. At Crisil, we are focusing on sustainability stewardship and availability of independent evaluation, benchmarks and data. Last year, we launched ESG scores for 225 large, listed Indian companies. We aim to extend our coverage beyond 1,000 companies. For the global markets, we work with top FIs on ESG integration through bespoke research and analytics. We have committed significant investments to be future-ready and grow sustainably.
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. b May 1825 Va; d 1911.
. son (d/o Benjamin Henson (#1)).
. 1850 Carroll Co census, #54/54, William R. Jennings,23 Va, farmer, $150, Rebecca,19 Va.
. 1860 Carroll Co census, #139/140, Riley W. Jennings,30, farm laborer, Rebecca,28, Julia A.,11, Olivea S.,7, Caroline T.,3.
. 15, Alexander,10, Mary E.,4.
. hand, Kimbrie Smith,24, housekeeper, Lucy Ann,3 (gd), Mary E. Jenning,13.
. 60 yrs, 7 ch, 4 living, mother), Julia,54 Va (sister), living with Alexandria Jennings.
. 1920 census, Rebecca not located.
. mos, of pneumonia, d/o Riley Jennings and Rebecca Worrell".
. See image of her death certificate below, informant Riley Jennings.
. with Mack and Mary E. Worrell.
. 2. Olive Susan Jennings (Olley), b ca 1852-55 Va.
. 3. Caroline Kimbrie Jennings, b ca 1855-57 Va, m 8 Jun 1876 Carroll Co to John P. Smith.
. (#C61), b 1 Dec 1875 Carroll Co, d 1 Mar 1939 Princeton, Mercer Co, s/o Andrew Jackson Goad and Margaret C.
2821 4. Alexander Jennings (Alex), b Jun 1861 Va, m Sarah J. ____.
. 5. Mary E. Jennings, b ca 1866-67 Va.


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Officials field reports of blister-causing plant in Milwaukee parks
Updated: 5:59 PM CDT Jun 25, 2018
Kent Wainscott
Milwaukee County parks officials are investigating reports that a dangerous weed may have surfaced in county parks. The sap of the giant hogweed is so toxic that just touching it can lead to severe burns, blistering and even blindness.Reports and warnings about giant hogweed have circulated recently on social media, and the Milwaukee County Parks Department says it has received many calls from people claiming to have seen the plant in several locations, including along the Menomonee River Parkway in Wauwatosa.The calls led parks officials to investigate, and they told WISN 12 NEWS that the plant which park-goers have been reporting is not giant hogweed. It's a nearly identical-looking, but harmless, plant known as cow parsnip.Giant hogweed is identified by stalks up to 15 feet in height with umbrella-like clusters of white flowers. It is most frequently seen in the Eastern United States, but the Wisconsin Department of Natural Resources reports that hogweed has been reported in recent years in several Wisconsin counties, including Milwaukee.Parks officials said they have not found any evidence of giant hogweed in any Milwaukee County Parks, and in response to the flood of calls and reports, has posted updated information on its Facebook page.Get breaking news alerts with the WISN 12 app or our email newsletters.Follow us: Facebook | Twitter | Instagram | YouTube
MILWAUKEE —
Milwaukee County parks officials are investigating reports that a dangerous weed may have surfaced in county parks. The sap of the giant hogweed is so toxic that just touching it can lead to severe burns, blistering and even blindness.
Reports and warnings about giant hogweed have circulated recently on social media, and the Milwaukee County Parks Department says it has received many calls from people claiming to have seen the plant in several locations, including along the Menomonee River Parkway in Wauwatosa.
The calls led parks officials to investigate, and they told WISN 12 NEWS that the plant which park-goers have been reporting is not giant hogweed. It's a nearly identical-looking, but harmless, plant known as cow parsnip.
Giant hogweed is identified by stalks up to 15 feet in height with umbrella-like clusters of white flowers. It is most frequently seen in the Eastern United States, but the Wisconsin Department of Natural Resources reports that hogweed has been reported in recent years in several Wisconsin counties, including Milwaukee.
Giant Hogweed (left), Cow Parsnip (right)
Parks officials said they have not found any evidence of giant hogweed in any Milwaukee County Parks, and in response to the flood of calls and reports, has posted updated information on its Facebook page.
Get breaking news alerts with the WISN 12 app or our email newsletters.
Follow us: Facebook | Twitter | Instagram | YouTube


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F equals
Danielle Newnham
Interview with Astrophysicist Sophia Nasr
This week, we're delighted to bring you the next interview in our STEM series in collaboration with Vinita Marwaha Madill's Rocket Women — an interview with astrophysicist Sophia Nasr.
Sophia is currently completing a PhD in Cosmology at University of California, Irvine, and works on Self-Interacting Dark Matter (SIDM). In this interview, Sophia discusses her career thus far in astrophysics, overcoming societal barriers, realising her own dream and the one piece of advice she'd give her 10-year-old self. Here's her story:
On being inspired to choose a career in astrophysics:
I began my undergrad not quite knowing what I wanted to do. I had a "dream" of being a medical doctor imprinted on my brain (I put "dream" in quotes because it wasn't really my dream — it's what my father's dream was). I knew I needed to discover who I was.
As a child, the questions that fascinated me were all related to space: What are black holes? What is dark matter? How did the Universe begin, and how will it end? Does life exist beyond Earth? (How could it NOT exist beyond Earth in such a vast Universe?!) With all we know about this Universe we live in, there's far more that we don't know, and these questions burned like embers in my mind when I began my undergrad. That's when I realized I wanted to study astrophysics, to be able to work on figuring this type of stuff out. So, I enrolled in the program, and a couple of years down the road, I met a professor who I'd work with for the rest of my undergrad (and continue to work with today): Dr. Sean Tulin.
Under the supervision of Dr. Tulin, I started working on a type of dark matter that interacts with itself, called Self-Interacting Dark Matter. The beautiful thing about this research is that I get to use all my favorite disciplines to tackle problems we are trying to solve: cosmology, particle theory, and astrophysics! It was through this research that I realised astroparticle theory was what I wanted to work on. This is when I knew I wanted to dedicate my life to physics. And, here I am, off to work on my PhD in Physics at UC Irvine this fall!
My biggest role model was Albert Einstein. I loved his brilliance, and always wanted to have a brain that worked the way his did.
On the brilliance of Albert Einstein:
My biggest role model was Albert Einstein. I loved his brilliance, and always wanted to have a brain that worked the way his did. It probably stemmed from my affinity with mathematics, which I probably owe to my Dad; he has a PhD in Applied Statistics, and as a child, he'd teach me math beyond the elementary school curriculum. I loved it so much that when I wanted to play a game, I'd ask my dad to make me a math test! And I think I wanted to build a brain like that of Einstein. I laugh saying this now, not because I think Einstein is out of my, or anyone's, league, but because everyone is different, and being "brilliant" comes in many forms.
I also enjoyed Bill Nye's TV show "Bill Nye The Science Guy". But I also had different role models — singers, and actors. I really liked the entertainment industry and wanted to be part of it. I think my childhood was a rather diverse one.
I thought I'd likely end up in some medical field during my youth. I also enjoyed music, singing, and playing guitar, so I thought these things would be part of who I would become. Eventually, I realized physics was where my heart lies, in those burning questions that remain unsolved today.
On whether there was anything unexpected during her career journey:
Absolutely. For starters, I thought I'd likely end up in some medical field during my youth. I also enjoyed music, singing, and playing guitar, so I thought these things would be part of who I would become. Eventually, I realized physics was where my heart lies, in those burning questions that remain unsolved today. That being said, I plan to pursue the entertainment industry, using my knowledge of physics to help people learn about this mysterious Universe we live in, and make learning about it fun!
On what helps her get through a stressful and bad day:
One easy answer to this — my hamster Neutrini! You may wonder about his name, and it came from these "tinisymmetric particles" I came up with (tinisymmetry is not a theory, it's just a naming scheme for furry little friends, taking a particle and replacing the last letter with an "i", or appending an "i" to it, depending which particle it is). So Neutrini is the tinisymmetric partner of the neutrino, and I named him that way because he's tiny, very quick, and when I first got him, he was so reluctant to interact that when I'd put my hand in his cage, he'd seem to run through it, much like neutrinos just pass through matter! Now it's less of an issue as he's grown more comfortable with me, so I take this development as me having become a really good detector.
Animals in general get me through bad days. I tend to be great with squirrels, and most of the ones on campus know me because I carry a bag of peanuts for them!
On following her own dreams:
As a child, I thought I'd end up in the field of medicine because it was my father's dream, what he wanted me to be. I later learned I loved playing the guitar and singing! I have an electric guitar that I eventually stopped playing because I didn't have an amp, so it didn't sound good playing without one. I still have my guitar, and perhaps will take on learning it again sometime.
On whether science has become more inclusive for women:
I want to say it has, but the disparity remains. Faculty in physics are by far men, white men, with women comprising only a small percentage. I am pleased to say that the number of women going into the fields of physics and astronomy has grown, which tells me that change is on the horizon! There are, however, remaining concerns with regards to the treatment of women in the field, and these need to be addressed. Women need to feel safe going into the fields of physics and astronomy, and feel safe remaining in them. It's not enough to bring women into the field, when they may leave anyway due to issues like harassment.
We need to listen to people of colour, to hear what they say, and help solve these problems and make them feel safe going into these fields, and again, safe to remain in these fields.
I am also concerned with the disparity between people of colour versus white people in the field. This stems from societal barriers people of colour face. This needs to be addressed. We need to listen to people of colour, to hear what they say, and help solve these problems and make them feel safe going into these fields, and again, safe to remain in these fields. This was probably the most noticeable gap I saw in my undergrad, and we need to work to change this.
While I'm speaking only of physics and astronomy because this is where my experience comes from, this can be said of most STEM fields. And these problems need to be addressed now. Not tomorrow, but right now. We have a world of women and people of colour that are being discouraged about getting into these fields due to societal barriers. We cannot allow this to continue.
Would I change things? I can't say I would, because if I did, I might have just fallen into a dream that wasn't mine.
On the one piece of advice for her 10-year-old self:
One piece of advice to myself: Don't feel like being good at maths makes you an outcast (because I did feel that way).
One piece of advice that I'd give to any 10-year-old child: Never feel discouraged to be who you are, to do what you want to do and what you are good at. You are the determining factor of what you love. There will be obstacles, but never stop aiming for your dream, whatever that dream may be.
Would I change things? I can't say I would, because if I did, I might have just fallen into a dream that wasn't mine. I think I needed to take the path in life I did to get where I have. I've learned things I'd otherwise never have known, and in the end, discovered myself, who I am, what I'm good at. And I can say I'm genuinely happy today.
Follow Sophia at astropartigirl.com / Twitter @Astropartigirl
Rocket Women website / Twitter / Instagram / Facebook
** This interview was originally posted here on Rocket Women blog June 2017.**
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Nigeria Modern Pentathlon Federation election illegal, says Abioye
By Guardian Nigeria
Secretary-General of Nigeria Modern Pentathlon (NMPF), Femi Abioye, has described Saturday's election conducted inside the boardroom of the Nigeria Olympic Committee (NOC), National Stadium, Lagos, as illegal.
According to Abioye, the election was a deliberate attempt by former president, Jonathan Nnaji, to return to power, illegally.
Abioye argues that Nnaji was not qualified in the first place to contest in the election, having lost his status of international delegate when he lost election into the Confederation of Africa Pentathlon Modern (CAPM) on November 10, 2021.
"Nnaji was not qualified to contest, let alone return as president. He had earlier resigned from the board of the Nigeria Modern Pentathlon Federation to contest at the CAPM where he was beaten by Cote d'Ivoire's Francois-Xavier Akonde. He had earlier resigned his membership of NMPF to contest to be on the board of the Nigeria Taekwondo Federation (NTF), where he also lost.
"He, therefore, had no platform to contest as president of the Nigeria Modern Pentathlon Federation. So, it's a huge joke to hear that he won.
"How on earth can we accept a board that has Nnaji as president and just two vice presidents, no secretary, no treasurer and other key positions needed for a proper board. It's an illegal election that can be called the joke of the year," Abioye said.
Abioye said he has petitioned the NOC over the manipulations by Nnaji in getting an illegal third mandate and also has appealed to the Federal Government, Africa Modern Pentathlon Federation and Union International du Pentathlon Modern (VIPM) to halt Nnaji's desperation and greed to become sole administrator of NMPF.
Femi Abioye
Nigeria Modern Pentathlon Federation
Nigeria to host maiden Pentathlon Youth Olympics Africa qualifier
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Ozed donates to Mordern Pentathlon
The plea by the Nigeria Modern Pentathlon Federation to the corporate world and well meaning individuals for their support towards Nigerian's bid to successfully host the Youth Olympic Games qualification and the senior African Pentathlon Championship from December 4-11 seems to be yielding results. Some Nigerians have started responding to the pleas, following the donation…
Graduates, undergraduates appraise value of certificates
University education in the past was the most revered among all levels of learning in Nigeria. Despite the daunting challenges confronting the contemporary graduates it still is, but to what extent?