Agilent Technologies Inc. (A) recently announced that Koh Boon Hwee will be the new chairman of the board, with immediate effect.
SINGAPORE, Oct 25 (Reuters) - Singapore telecom operator StarHub Ltd said on Tuesday intentional cyber attacks had caused web connection disruptions for some of its home broadband customers on October 22 and October 24.
Apple's (AAPL) WWDC was the highlight of the week, but there were also many juicy tidbits involving Blackberry Googles (GOOGL), Twitter (TWTR), Netflix (NFLX) and Alibaba (BABA).
SINGAPORE, Sept 25 (Reuters) - Seven Singapore telecom firms, including M1 Ltd and StarHub Ltd, on Wednesday asked the government to reject Singapore Telecommunication Ltd's proposed acquisition of the firm developing the city-state's next generation broadband network.
SINGAPORE, Sept 16 (Reuters) - China's ZTE Corp , the world's fifth largest telecoms equipment maker, plans to expand cloud computing services abroad, despite the challenge of allaying security concerns.
SINGAPORE, Sept 16 (Reuters) - China's ZTE Corp , the world's 5th largest telecom equipment maker, plans to expand cloud computing abroad, though security worries could pose a challenge.
KKR (KKR), Blackstone (BX), Carlyle (CG) and prospective strategic buyers such as U.K.-based Inmarsat (IMASF.PK) and Australia's NewSat (NWTLD.OB) are among the suitors to have reportedly placed first-round bids for the satellite operations of Singapore Telecoms' Australian unit, Optus, which SingTel values at over A$2B ($1.9B). SingTel advisers Credit Suisse (CS) and Morgan Stanley (MS) will provide a loan of A$1.7B that the acquirers can use to finance the deal.
KKR (KKR), Blackstone (BX), Carlyle (CG) and prospective strategic buyers such as U.K.-based Inmarsat (IMASF.PK) and Australia's NewSat (NWTLD.OB) are among the suitors to have reportedly placed first-round bids for the satellite operations of Singapore Telecoms' Australian unit, Optus, which SingTel values at over A$2B ($1.9B). SingTel advisers Credit Suisse (CS) and Morgan Stanley (MS) will provide a loan of A$1.7B that the acquirers can use to finance the deal. Post your comment!
BUENOS AIRES, Argentina -- In the center of Buenos Aires, along the city's main boulevard, stands a tall building that houses the ministries of Health and Social Development. A huge visage of Eva Peron appears on both sides. The one facing the poor districts of the south is smiling and compassionate. The other, facing the rich districts to the north, is angry, agitated and defiant. Just as her image towers over the Argentine capital, so too her legacy looms over Latin America's future. Shortly before her death in 1952, "Evita" was named "Spiritual Leader of the Nation" by the Argentine Congress for her work on behalf of the poor descamisados (shirtless ones) through the Sociedad de Beneficencia charity she founded as first lady during Juan Peron's first presidential term. In popular culture and the collective memory of Latin America, she and her husband are associated with a particular brand of populism -- protected national industries and social programs for the poor majority dispensed by a caudillo, or strongman, financed by unsustainable debt and ending up in wild inflation, corruption and military coups to restore order out of the enveloping social chaos and discontent. Though the interventionist role of the military has mostly disappeared across Latin America today, the temptation of populist politics remains. Indeed, today, the temptation is greater than ever as democracy joins with a politically active middle class rising largely on the boom of exporting soya beans, corn, copper, oil and other commodities to a voracious China. Democratic elections always favor the short-term demands of the voting public over the long-term sustainability of society. By definition, the future has no political constituency today. Whether the demand is subsidies for the poor, middle-class aid for home ownership, generous pensions for organized labor or the expansion of a social safety net for all, the pressure is immense to spend and consume all the newfound riches now. Macroeconomic stability, investment in infrastructure, quality public education, and research and development that will generate future wealth inevitably take a back seat. Part and parcel of the populist temptation is the protection of national industries from competition beyond their initial gestation stage. Whoever promises the moon today, no matter the long-term costs, will be the most assured of getting elected to power. As the historical record clearly demonstrates, however, populism that ignores the laws of economics is not affordable in the long run, and then the old cycle of debt, inflation and authoritarianism will return. Fiscal responsibility and open competition are the predicates of sustainable democratic governance, not its enemy. VENEZUELA. The closest example of traditional populism has been Chavismo in Venezuela. Hugo Chavez justly set out to eradicate woeful inequality by spending oil revenues on massive new social programs for the poor. Without doubt, their lives improved during his tenure. But by the time Chavez died last month, Venezuela had the highest inflation rate in the world at nearly 23 percent and was forced to borrow $46 billion from China just to keep going. It has devalued its currency twice in recent weeks. Chavismo's hostility to foreign investment and the related failure to modernize the oil industry, which accounts for 95 percent of its exports, has led to a reduction of exports by one quarter since 1999. ARGENTINA. Argentina, once among the wealthiest nations in the world, relies on its exports of soya, wheat, beef and a host of minerals to Brazil, China and elsewhere but has spent so freely that, famously, it defaulted on its unsustainable foreign debts in 2001. Though it initially recovered as its falling currency value stimulated exports, its growth has once again stagnated, and the old specter of inflation has returned. This is reflected in the wide gap between the official exchange rate for the U.S. dollar -- around 5 pesos -- and the "parallel rate" of over 8 pesos to the dollar. If you shop at the Sunday flea market in San Telmo, the merchants will happily give you the parallel rate if you have dollars. Everyone today has a terrifying sense of déjà vu that their savings will once again evaporate into thin air. BRAZIL. For several years now Brazil has been the considered the "miracle" of Latin America, in no small part due to the Chinese demand for its oil and soya. Thanks to rapid economic growth accompanied by programs like Bolsa Familia, in which welfare for poor parents is tied to making sure their kids attend school, 22 million people have been lifted from poverty since 2003 while literacy has improved. As part of her goal of creating greater domestic economic strength and more employment opportunities for the poor, Brazilian President Dilma Rousseff is increasingly turning toward statist solutions rejected by both of her predecessors, Lula da Silva and Fernando Henrique Cardoso. Aside from enhancing already rampant bureaucratic corruption, this approach has also created bottlenecks that are slowing Brazil's economic miracle. Infrastructure investment has lagged growth so badly that trucks filled with soybeans line up by the hundreds at ports. This inefficiency led China to recently cancel a contract worth 5 percent of Brazil's total soya crop because it considered on-time delivery "unreliable." To revive Brazil's shipbuilding industry, the state-controlled Petrobras oil giant was ordered to buy tankers made in Brazil. Cost overruns and delayed delivery schedules are now disrupting oil shipments. Meanwhile, the discovery of shale oil around the world is threatening to undermine Brazil's overreliance on oil exports. High tariffs on goods make many consumer items expensive and retard diversification of the economy. While countries like Mexico and Chile thrive under free trade agreements, Brazil has three: with the Palestinian Authority, Egypt and Israel. CHILE. Chile, Colombia and Mexico have so far done a better job of resisting the populist temptation. Chile today has become the Singapore of the Western Hemisphere. Since 95 percent of Chile's trade is bound up in free-trade agreements, you can get anything from anywhere in its glittering capital, Santiago. Its sophisticated political class has had the foresight to try to diversify the country's dependence on its main commodity, copper, almost all of which today is exported to China. When Ricardo Lagos was president from 2000 to 2006, he instituted a program to set aside revenues from futures contracts for copper and put them into a fund for research and development of new technologies. As he told me, "One day the copper will run out. We need to use today's resources to finance the future and diversify the economy. Otherwise, our prosperity will have been built on a weak basis. When the future arrives, we would then be back to square one." COLOMBIA. Colombia's current president, Jose Manuel Santos, is a "third way" leader in the mold of Bill Clinton and Tony Blair. As he puts it, good governance means "as much market as possible, as much government as necessary." While courageously seeking to disengage Colombia from its long civil war with the FARC guerrillas, Santos is at the same time engaging the future, when prosperity will be built more on knowledge than commodities. To that end, he is sponsoring a program to bring computer tablets to the poorest students and expanding broadband, following South Korea's example, to 1,200 cities across the country. To avoid the kind of bloated budgets that have gotten Argentina into so much trouble, he has passed legislation that requires provincial governments to maintain fiscal balances. MEXICO. Under its new president, Enrique Pena Nieto, Mexico is leading the pack away from the populist past, building on the accomplishments of his predecessor, Felipe Calderon, as well as the NAFTA agreement in the 1990s. The economy grew at 4 percent last year and is expected to grow faster in 2013. There is a budget surplus. Mexico has a large middle class and a diversified economy that is attracting direct foreign investment -- such as from Bombardier and General Electric -- which is taking advantage of the deep engineering and professional labor pool as well as Mexico's proximity to the U.S. market. Rising wage rates in China are leading to "re-manufacturing" by companies that once left Mexico for cheaper labor. NAFTA and other free trade agreements have greatly aided diversification and reduced the price of consumer goods by 50 percent since 2000. I attended Pena Nieto's inauguration last December at the Palacio Nacional in Mexico City. He stood boldly in front of Carlos Slim, the telecoms mogul, and Emilio Azcarraga Jean, the media mogul, sitting a few feet away, promising to disband the television and telecoms monopolies that dominate Mexico. To robust applause, he pledged reform of the teacher's union, which, incredibly, has long had the power to hire teachers and even pass on hereditary jobs. He also promised to "open up" PEMEX, the laggard state oil monopoly that has been the core of Mexico's nationalist ideology since the 1930s, to foreign investment. Without technology and competition, the company has become a power unto itself and failed to modernize. The inaugural audience was stunned by the scope and specificity of the new president's program -- and the fact that he was openly taking on the very historical pillars of his Institutional Revolutionary Party (PRI), which had ruled Mexico for 71 years until 2000. The day after his inauguration, Pena Nieto broke the partisan rancor of the election campaign in a way that Washington could only dream of: He announced a consensus "pacto" of the other major parties in the Congress that agreed to support his list of reforms. Less than five months later, he has delivered. The head of the teachers union, Elba Esther Gordillo -- known for her luxe wardrobe and accessories -- was arrested for embezzlement. The legislation that empowers the government to break up the telecom and TV monopolies has now been passed in the Congress. The historic legislation to open up PEMEX is well under way. POPE FRANCISCO. As the new pope from Buenos Aires, Francisco, reminds us with his "preference for the poor," vast poverty weighs heavily on Latin America's future. That gap must narrow, not widen, as middle-class prosperity grows. But to finally escape its past, democratic governance must avoid the populist trap that, in the name of the poor, has so often led it back to square one instead of to a sustainable and upwardly mobile path that will endure. That is Latin America's challenge today. © 2013 GLOBAL VIEWPOINT NETWORK/TRIBUNE MEDIA SERVICES
RA'ANANA, Israel, March 3 (Reuters) - Singapore Telecommunications and Amdocs, a software provider for telecom companies, have opened a development centre in Israel as part of SingTel's investment in new technology.
During his career, Greg Tarr has founded a tech company as well as worked as a VC for a strategic investor. A big part of his background has been in telecom and mobile, especially in Asia. For 13 years, he lived in Japan, Korea, Hong Kong, Taiwan and Singapore (he is a native New Yorker!)
Obama to meet with Goldman's Blankfein, other CEOs Tuesday (Reuters) Chinese Firms Shrug at Rising Debt (WSJ) McGraw-Hill, S&P Sued by U.S. Over Mortgage-Bond Ratings (BBG)... but not Moody's or Fitch Dime a Dozen: Dollar Stores Pinched by Rapid Expansion (WSJ) Dell Board Said to Vote Monday Night on $24 Billion LBO (BBG) BOJ Governor Shirakawa to step down on March 19 (Reuters) Alberta may offer more to smooth way for Keystone (Reuters) Facebook Is Said to Create Mobile Location-Tracking App (BBG) Barclays takes another $1.6 billion hit for mis-selling (Reuters) Apple App Advantage Eroded as Google Narrows IPhone Lead (BBG) Texas School-Finance System Unconstitutional, Judge Rules (BBG) World Risks ‘Perfect Storm’ on Capital Flows, Carstens Says (BBG) Overnight Media Digest WSJ * Michael Dell is close to finishing a risky $23 billion deal to take private the computer company he founded nearly 30 years ago, in an effort to remake Dell Inc for a post-PC era. * The Justice Department in the United States sued Standard & Poor's Ratings Services late Monday, alleging the firm ignored its own standards to rate mortgage bonds that imploded in the financial crisis and cost investors billions. * Investigators remain stumped on the cause of burning batteries aboard two Boeing 787 Dreamliners, fueling pessimism about how quickly the grounded aircraft can resume flying. * British regulators are considering forcing banks to raise billions of pounds in fresh capital to address concerns around a key gauge of their financial health. * Oracle Corp said it will acquire telecommunications gear maker Acme Packet Inc in a deal valued at $1.7 billion, making its biggest move yet into the market for equipment that transports Internet data. * Bridgewater Associates told its investors that it will launch a new hedge fund this year, and had sold another minority equity stake in the firm to an unidentified buyer to help ensure its long-term viability. * The U.S. Securities and Exchange Commission, expanding a high-profile investigation, is gathering data on a broad number of trades by corporate executives in shares of their own companies, according to people familiar with the probe. FT Standard & Poor's is likely to face a lawsuit filed by the U.S. Department of Justice alleging that the credit rating agency defrauded banks by issuing overly rosy ratings for mortgage-related securities in the lead-up to the financial crisis. SGX, the Singapore stock exchange, is in talks to buy a stake in clearing house LCH.Clearnet. The Asian exchange may participate in the London Stock Exchange Group's purchase of LCH or buy a separate stake. Mercuria - one of the world's top five energy traders, has hired Credit Suisse to carry out a strategic stake sale. The Moscow Exchange is set become Europe's largest exchange by market capitalisation after it set a price range for its initial public offering, that values the company at $4 billion to $4.6 billion. BP Plc is likely to face a year or more of uncertainty over the cost of the 2010 Deepwater Horizon disaster as any decision on civil penalties and environmental damages is not expected to come until next year. Former chief executive of Thales - Denis Ranque, has emerged as the front runner to become chairman of European aerospace and defence company EADS, according to two people familiar with the situation. EADS shareholders will meet next month to approve a new board and corporate governance structure at the company. Dutch telecoms group KPN, is finalising plans to raise as much as 4 billion euros in new capital. The company whose stakeholders include Mexican billionaire Carlos Slim, is seeking to raise 2 billion euros to 4 billion euros in the form of a rights issue. NYT * The Justice Department in the United Status filed civil fraud charges late Monday against the nation's largest credit-ratings agency, Standard & Poor's, accusing the firm of inflating the ratings of mortgage investments and setting them up for a crash when the financial crisis struck. * Dell Inc neared an agreement on Monday to sell itself to a group led by its founder and the investment firm Silver Lake for more than $23 billion, people briefed on the matter said, in what would be the biggest buyout since the financial crisis. * China Petroleum and Chemical Corp , the state-owned oil and refining giant better known as Sinopec, is selling new shares worth up to $3.1 billion, in what ranks as one of Asia's biggest equity deals so far this year. * Japan Airlines said that the grounding of its Boeing 787 Dreamliner fleet would cost it 700 million yen, or $7.5 million, in earnings through March and that it would seek compensation from Boeing Co. * British regulators will have the power to split up banks that fail to separate risky trading activity from retail banking, George Osborne, the country's chancellor of the Exchequer, said. * Microsoft Corp, taking aim at the world's fastest-growing smartphone market, said on Monday that it would team up with Huawei of China to sell a low-cost Windows smartphone in Africa. Canada THE GLOBE AND MAIL * Alberta Premier Alison Redford has replaced two of her cabinet ministers, a minor shuffle she says is evidence of her government "leading by example" as it focuses on economic development and looks for savings leading up to next month's budget. * Amid a standoff between buyers and sellers, the number of homes sold in Greater Vancouver fell 14.3 percent last month. There were 1,351 property sales in the region in January, down from 1,577 in the same month of 2012, the Real Estate Board of Greater Vancouver said Monday. Reports in the business section: * The end of the penny has given the Royal Canadian Mint 20 percent more capacity, and it plans to put it to use producing other countries' coins. The Mint struck its final penny last May after the federal government announced it would kill the coin as a cost-saving measure. Monday marks beginning of the penny's phase-out as the Mint will stop distributing them to retailers and banks. NATIONAL POST * The official word on the progress of free trade negotiations between Canada and the European Union is that "no deal is imminent." Unofficially, trade sources suggest a framework deal is sitting on the Prime Minister's desk, waiting for him to decide whether the terms are likely to cause him unacceptable political headaches. FINANCIAL POST * Canadian Pacific Railway Ltd's decision to hire away a top Canadian National Railway Co executive came with the hefty price in the form of a deal not to hire about 60 of its rivals' top marketing and operations executives through 2016. Canadian Pacific said Monday it had appointed Canadian National's chief operating officer, Keith Creel, as its new president, chief operating officer, and the likely successor to Hunter Harrison as its chief executive. China CHINA SECURITIES JOURNAL --China could raise crude oil prices after the Chinese Spring Festival holiday (Feb. 9 to 17), due to a rise in global oil prices, the official paper said citing industry sources. --China may announce plans this year to develop 120 trading posts along its borders to stimulate the country's struggling exports and boost investment. --China Vanke Co Ltd, the country's largest real estate developer by turnover, said its board had approved a plan to move trading of its foreign currency shares to Hong Kong from Shenzhen. SHANGHAI SECURITIES NEWS --The State Council said it plans to implement paid vacation rules to boost domestic tourism. Analysts said this could boost tourism revenues by 50 billion yuan ($8.02 billion) per year. --China's yuan deposits in Hong Kong could rise to 700 billion yuan this year, from 600 billion yuan last year, analysts told the official paper. PEOPLE'S DAILY --China's Ministry of Public Security said it has handled 120 food safety cases and arrested 350 people since it started a crackdown on illegal food and food safety in January. SHANGHAI DAILY --Police seized more than 40 tons of fake mutton and beef rolls in China's northeastern Liaoning province. The fake food was made from duck and laced with large amounts of carcinogens. Fly on the Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades Alon USA Partners (ALDW) upgraded to Buy from Neutral at GoldmanArmstrong World (AWI) upgraded to Overweight from Equal Weight at BarclaysBed Bath & Beyond (BBBY) upgraded to Buy from Neutral at CitigroupCullen/Frost (CFR) upgraded to Outperform from Perform at OppenheimerD.R. Horton (DHI) upgraded to Overweight from Equal Weight at BarclaysHarmony Gold (HMY) upgraded to Neutral from Sell at CitigroupMacy's (M) upgraded to Buy from Neutral at CitigroupMarvell (MRVL) upgraded to Outperform from Sector Perform at RBC CapitalStillwater Mining (SWC) upgraded to Overweight from Neutral at JPMorganTarget (TGT) upgraded to Buy from Neutral at CitigroupUnitedHealth (UNH) upgraded to Conviction Buy from Neutral at GoldmanZynga (ZNGA) upgraded to Buy from Neutral at BofA/Merrill Downgrades Alon USA Energy (ALJ) downgraded to Neutral from Buy at GoldmanAmerican Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark Co.Associated Banc-Corp (ASBC) downgraded to Perform from Outperform at OppenheimerAvalonBay (AVB) downgraded to Hold from Buy at JefferiesBaidu (BIDU) downgraded to Market Perform from Outperform at Raymond JamesEquity Residential (EQR) downgraded to Hold from Buy at JefferiesIconix Brand (ICON) downgraded to Neutral from Buy at CitigroupInvesco (IVZ) downgraded to Market Perform from Outperform at BMO CapitalKB Home (KBH) downgraded to Equal Weight from Overweight at BarclaysKohl's (KSS) downgraded to Neutral from Buy at CitigroupPulteGroup (PHM) downgraded to Equal Weight from Overweight at BarclaysRealogy (RLGY) downgraded to Equal Weight from Overweight at BarclaysRoyal Caribbean (RCL) downgraded to Market Perform from Outperform at Raymond JamesRyland Group (RYL) downgraded to Underweight from Equal Weight at BarclaysScientific Games (SGMS) downgraded to Sell from Hold at Deutsche BankStryker (SYK) downgraded to Neutral from Buy at UBSToll Brothers (TOL) downgraded to Underweight from Equal Weight at BarclaysYum! Brands (YUM) downgraded to Neutral from Outperform at RW Bairdhhgregg (HGG) downgraded to Underperform from Neutral at Credit Suisse Initiations ASML (ASML) initiated with an Outperform at CowenApplied Materials (AMAT) initiated with an Outperform at CowenBroadcom (BRCM) initiated with an Outperform at CowenChipMOS (IMOS) initiated with an Outperform at CowenHealth Care REIT (HCN) initiated with an Overweight at BarclaysIntel (INTC) initiated with a Neutral at CowenKLA-Tencor (KLAC) initiated with a Neutral at CowenLam Research (LRCX) initiated with a Neutral at CowenNeurocrine Biosciences (NBIX) initiated with a Buy at Lazard CapitalRepros Therapeutics (RPRX) initiated with a Buy at Lazard CapitalSanDisk (SNDK) initiated with a Neutral at CowenTeradyne (TER) initiated with an Outperform at CowenTexas Instruments (TXN) initiated with a Neutral at CowenUlta Salon (ULTA) initiated with an Outperform at Credit SuisseVanda Pharmaceuticals (VNDA) initiated with a Buy at Lazard CapitalVitamin Shoppe (VSI) initiated with an Outperform at Credit SuisseWorkday (WDAY) initiated with a Neutral at Citigroup HOT STOCKS Dell (DELL) board said to meet last night to vote on buyout, Bloomberg reports Yum! Brands (YUM) CEO Novak: We no longer expect to achieve EPS growth in 2013Sees KFC China SSS improving as the year progressesVirgin Media (VMED) confirms talks with Liberty Global (LBTYA) over possible transactionJ.C. Penney (JCP) said notice of default from bondholders is invalid, without meritArbitron (ARB) and Nielsen (NLSN) voluntarily provided FTC additional time for merger reviewBaker Hughes (BHI) to retain process and pipeline services businessSpectra (SE) targets investments of $25B in capital expansion projects through decade U.S. Bancorp's (USB) Elavon acquired Collective POS, terms not disclosedA.T. Cross (ATX) to explore strategic alternatives for Cross accessory divisionVitamin Shoppe (VSE) said FTC ended investigation into Super Supplements deal EARNINGS Companies that beat consensus earnings expectations last night and today include:Becton Dickinson (BDX), Diamond Offshore (DO), NYSE Euronext (NYX), BP (BP), Yum! Brands (YUM), Array BioPharma (ARRY), Baidu (BIDU), SolarWinds (SWI), Hartford Financial (HIG), Luminex (LMNX), Anadarko (APC), Gilead (GILD), Edwards Lifesciences (EW) Companies that missed consensus earnings expectations include:Centene (CNC), Symetra Financial (SYA), Anadarko (APC) Companies that matched consensus earnings expectations include:Santander Chile (BSAC), BCD Semiconductor (BCDS) NEWSPAPERS/WEBSITES Dollar stores (DG, FDO, DLTR) are finding it harder to make money as sales-growth has slowed and in some cases margins have been shrinking as competition for their target customer—the cash-strapped consumer—has increased, the Wall Street Journal reports. Money-market funds have a high-quality problem: investors are entrusting them with too much cash. The flood of money is prompting the funds to seek higher returns in investments that until recently were seen as too risky. Investors put $149B into U.S.-based money-market funds between the start of November and January 30, bringing total assets under management to $2.695T according to the Investment Company Institute, the Wall Street Journal reports President Obama will meet today with CEOs from 12 companies including Goldman Sachs Group (GS) Lloyd Blankfein and Yahoo's (YHOO) Marissa Mayer to discuss immigration and deficit reduction. Others include Arne Sorenson of Marriott International (MAR), Jeff Smisek of United Continental Holdings (UAL) and Klaus Kleinfeld of Alcoa (AA), Reuters reports The euro zone's economy has turned a corner, according to a business survey that showed businesses are more optimistic about the future but highlighted a growing split between the region's economies. Markit's Eurozone Composite PMI, jumped in January to a 10-month high of 48.6 from 47.2 in December, Reuters reports Facebook (FB) is developing a smartphone application, expected to be released next month, that will track the location of users, sources say, bolstering efforts to benefit from growing use of social media on mobile computers, Bloomberg reports Wells Fargo & Co. (WFC), which counts Warren Buffett’s company (BRK.A) as its largest shareholder, is planning to target Persian Gulf sovereign wealth funds to expand its client base in the Middle East, Bloomberg reports SYNDICATE Celldex (CLDX) files to sell $75M in common stockEnterprise Products (EPD) announces offering of 8M common unitsFidus Investment (FDUS) files to sell common stockKCAP Financial (KCAP) files to sell 4M shares of common stockMagnaChip (MX) files to sell 5M shares of common stock