Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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News Network
June 1,2020

Jun 1: Premier India pacer Jasprit Bumrah won't miss the hugs and high-fives as part of a wicket celebration but he will certainly miss applying saliva on the ball and feels an alternative should be provided to maintain the red cherry.

The ICC Cricket Committee, led by former India captain Anil Kumble, recommended a ban on using saliva on the ball as an interim measure to deal with the COVID-19 pandemic. However, the Committee did not allow the use of artificial substances as a substitute move.

The new rule makes life tougher for the bowlers and Bumrah, like many former and current fast bowlers, feels there ought to be an alternative.

"I was not much of a hugger anyway and not a high-five person as well, so that doesn't trouble me a lot. The only thing that interests me is the saliva bit," said Bumrah in a chat with Ian Bishop and Shaun Pollock on ICC's video series 'Inside Out'.

"I don't know what guidelines we'll have to follow when we come back, but I feel there should be an alternative," he added.

Bumrah said not being able to use saliva makes the game more batsman-friendly.

"If the ball is not well maintained, it's difficult for the bowlers. The grounds are getting shorter and shorter, the wickets are becoming flattered and flatter.

"So we need something, some alternative for the bowlers to maintain the ball so that it can do something - maybe reverse in the end or conventional swing."

When former West Indian pacer Bishop pointed out that the conditions have been favorable to the fast bowlers over the last couple of years, Bumrah nodded in agreement.

"In Test match cricket, yes. That is why it's my favorite format because we have something over there. But in one-day cricket and T20 cricket… one-day cricket there are two new balls, so it hardly reverses at the end.

"We played in New Zealand, the ground (boundary) was 50 metres. So even if you are not looking to hit a six, it will go for six. In Test matches I have no problem, I'm very happy with the way things are going."

He finds it amusing that the batsmen keep complaining about the swinging ball.

"Whenever you play, I've heard the batsmen - not in our team, everywhere - complaining the ball is swinging. But the ball is supposed to swing! The ball is supposed to do something! We are not here just to give throwdowns, isn't it? (laughter)

"This is what I tell batsmen all the time. In one-day cricket, when did the ball reverse last, I don't know. Nowadays the new ball doesn't swing a lot as well. So whenever I see batsmen say the ball is swinging or seaming and that is why I got out - the ball is supposed to do that.

"Because it doesn't happen so much in the other formats, it's a new thing for the batsmen when the ball is swinging or seaming," said the 26-year-old.

The Ahmedabad-born pacer finds himself in an unusual position as he has not bowled for over two months due to the lockdown imposed in the wake of the coronavirus outbreak.

When India will play next is not clear yet and Bumrah said he is not sure about how his body will hold up when he returns to action.

"I really don't know how your body reacts when you don't bowl for two months, three months. I'm trying to keep up with training so that as soon as the grounds open up, the body is in decent shape.

"I've been training almost six days a week but I've not bowled for a long period of time so I don't know how the body will react when I bowl the first ball.

"I'm looking at it as a way to renew your own body. We'll never get such a break again, so even if you have a small niggle here and there, you can be a refreshed person when you come back. You can prolong your career," he said.

Bumrah has risen rapidly in international cricket despite experts having reservations about his longevity due to his unorthodox action.

The gritty fast bowler sees similarities in his career graph to Swedish football star Zlatan Ibrahimovic.

"Our personalities are different. But the story I could relate to is that not many people thought he would make it big. There was a similar case with me growing up as well.

"Wherever I went, it was the general feedback from people that 'this guy would not do anything, he would not be a top-rated bowler, he won't be able to play for a long period of time with this kind of action'.

"So, having the self-belief is important and the only validation that is required is your own validation. I saw that in his (Ibrahimovic's) story, so that's the thing I could relate to," added Bumrah.

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News Network
January 31,2020

Wellington, Jan 31: A nervous New Zealand threw it away yet again as a perseverant India prevailed in the Super Over for the second successive time to take a 4-0 lead in the T20 International series on Friday.

Needing just 11 runs off the last two overs with seven wickets in hand, New Zealand dug a hole for themselves yet again, taking the game to a Super Over two nights after doing the same in Hamilton.

New Zealand managed 13 runs in six balls and India got there effortlessly.

KL Rahul smashed 10 runs off the first two balls before he was caught. Then, a fired-up Virat Kohli and Sanju Samson finished the game in style.

Earlier, Manish Pandey proved his value to the team with an unbeaten 50 off 35 balls, taking India to 165 for eight from 88 for six in the 12th over.

India's total wasn't enough considering the batting-friendly conditions but the hosts made life a lot tougher for themselves from a commanding position before succumbing to pressure.

The entertaining knocks from Colin Munro (64 off 47) and Time Seifert went in vain (57 off 39).

Mohammed Shami, who was rested on Friday, had bowled a brilliant 20th over on Wednesday and man of the match Shardul Thakur was up to the task this time, conceding just six runs when the opposition needed seven for victory.

With the series already in the bag, India gave opportunity to Sanju Samson, Washington Sundar and Navdeep Saini for the first time in the five-match series, resting Rohit Sharma, Ravindra Jadeja and Shami. However, none of them was able to make an impact in the game.

Chasing 165, New Zealand lost Martin Guptill early. But Munro and Seifert put on 74 runs for the second wicket to put themselves on track.

Munro scored a half-century of 38 deliveries, inclusive of six fours and three sixes. He was out against the run of play as Kohli's direct hit surprisingly found the target after a relay throw from the deep.

It was the turning point as New Zealand lost regular wickets. Yuzvendra Chahal bowled Tom Bruce (0), but Seifert found a partner in Ross Taylor as they pushed the score past 150 in the 18th over.

Seifert scored a half-century off 32 balls, including four fours and three sixes. But the great choke was yet to come again. Needing 18 off 18, the Black Caps lost four wickets in the last over bowled by Thakur.

Taylor holed out of the first ball, while Seifert was run out two balls later. Daryl Mitchell (4) was caught next and Mitchell Santner (2) couldn't steal two runs off the last ball as the sides engaged in a tie-breaker for the second game running.

This was after New Zealand won a fourth consecutive toss and opted to field. Kane Williamson didn't take part in the match owing to a shoulder niggle.

Tim Southee was the stand-in skipper, with the Black Caps making two changes.

Put in to bat, the visitors were struggling at 88-6 at one stage before Pandey's lonesome rescue act took them to a respectable total. KL Rahul contributed 39 runs off 26 balls, inclusive of three sixes and two fours.

Leg spinner Ish Sodhi got into the act and ran through India's batting order. First to go was Shreyas Iyer (1) and then Shivam Dube (12) was caught at mid-wicket.

Sodhi finished with 3-26 while Santner dismissed Sundar for nought as the New Zealand spinners rounded up a good outing with 4-54 in eight overs.

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Agencies
April 14,2020

Tokyo, Apr 14: Tokyo organizers said Tuesday they have no B Plan in the event the Olympics need to be postponed again because of the coronavirus pandemic.

Masa Takaya, the spokesman for the Tokyo Olympics, said organizers are proceeding under the assumption the Olympics will open on July 23, 2021. The Paralympics follow on Aug. 24.

Those dates were set last month by the International Olympic Committee and Japanese officials after the coronavirus pandemic made it clear the Olympics could not be held as scheduled this summer.

We are working toward the new goal, Takaya said, speaking in English on a teleconference call with journalists.

We don't have a B Plan. The severity of the pandemic and the death toll has raised questions if it will even be feasible to hold the Olympics in just over 15 months. Several Japanese journalists raised the question on the call.

All I can tell you today is that the new games' dates for both the Olympic and Paralympic Games have been just set up, Takaya said.

In that respect, Tokyo 2020 and all concerned parties now are doing their very best effort to deliver the games next year." IOC President Thomas Bach was asked about the possibility of a postponement in an interview published in the German newspaper Die Welt on Sunday.

He did not answer the question directly, but said later that Japanese organizers and Prime Minister Shinzo Abe indicated they could not manage a postponement beyond next summer at the lastest.

The Olympics draw 11,000 athletes and 4,400 Paralympic athletes and large support staffs from 206 national Olympic committees.

There are also questions about frozen travel, rebooking hotels, cramming fans into stadiums and arenas, securing venues, and the massive costs of rescheduling, which is estimated in Japan at 2 billion- 6 billion.

Tokyo 2020 CEO Toshiro Muto addressed the issue in a news conference on Friday. He is likely to be asked about it again on Thursday when local organizers and the IOC hold a teleconferene with media in Japan.

The other major question is the cost of the delay; how much will it be, and who pays? Bach said in the Sunday interview that the IOC would incur several hundred million dollars in added costs. Under the so-called Host City Agreement, Japan is liable for the vast majority of the expenses.

This is impossible to say for now, Takaya, the spokesman said.

It is not very easy to estimate the exact amount of the games' additional costs, which have been impacted by the postponement."

Tokyo says it's spending 12.6 billion to organize the Olympics. But a Japanese government audit published last year says the costs are twice that much. Of the total spending, 5.6 billion in private money. The rest is from Japanese governments.

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