Business Times (Malaysia) articles from April 2006

Business Times (Malaysia) archives from April 2006

Excess broking licences may be sold.
April 28, 2006... (From Business Times (Malaysia)) BUMIPUTRA-Commerce Holdings Bhd (BCHB) may sell some extra broking licences it owns after completing the merger with Southern Bank Bhd (SBB). Its investment banking arm CIMB Group already has two...

CIMB-SBB integration details to be known in July (HL).
April 28, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon BUMIPUTRA-Commerce Holdings Bhd (BCHB) will tell investors in July how it will carry out the toughest part of its RM6.7 billion merger - integrating the banking operations of...

TH Plantations sizzles in debut.
April 28, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching TH PLANTATIONS Bhd (THP) shares made a sizzling debut on Bursa Malaysia's main board yesterday, climbing as much as 76 sen, or 60 per cent, to RM2.01. At 9am yesterday,...

Appreciating ringgit a boon to local bourse, say analysts.
April 28, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid THE stock market is likely to benefit from the strengthening of ringgit, as more foreign funds flow in to buy Malaysian assets on ideas that the currency may firm further against...

Selangor Propertes, E&O in RM500m venture.
April 28, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun SELANGOR Properties Bhd (SPB) and E&O Property Development Bhd will jointly build some RM500 million worth of high-rise homes in Kuala Lumpur. Sitting on some 2.4ha of...

Three banks raise deposit rates.
April 28, 2006... (From Business Times (Malaysia)) SEVERAL banks yesterday announced upward revisions in their deposit rates following Bank Negara's 25 basis point increase in the overnight policy rate (OPR). Malayan Banking Bhd (Maybank) raised its...

Airocom aims to be a leading regional player.
April 28, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee AIROCOM Technology Bhd targets to be a leading wireless communication player, in Malaysia and in the region, in five years. The firm provides services such as short message...

Nestle may raise prices of products.
April 28, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam FOOD giant Nestle (Malaysia) Bhd warned again that it may raise the prices of its products this year to offset higher costs brought about by rising raw material prices and...

Guthrie to spend RM109m on planting, expansion.
April 28, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar PLANTATION group Kumpulan Guthrie Bhd, which is 73.5 per cent owned by Permodalan Nasional Bhd (PNB), will spend RM109 million on planting and expansion activities this year....

Wah Seong stages sharp rebound.
April 28, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia consolidated after the previous day's gain of 5.20 points. Overall market sentiment did not improve further. Instead, rotational consolidation...

Wanted: Good corporate citizens.
April 28, 2006... (From Business Times (Malaysia)) Byline: Chok Suat Ling AWARENESS of the importance of good corporate social responsibility or CSR is growing in Malaysia, writes CHOK SUAT LING. MORE than 10 years ago, sportswear giant Nike was...

Shareholders of REDtone agree to Mobile Money sale.
April 28, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee SHAREHOLDERS of REDtone International Bhd yesterday agreed to sell unit Mobile Money International Sdn Bhd, after presentations convinced them that it was better to let the unit go...

Cigarette maker posts higher 3-month earnings.
April 28, 2006... (From Business Times (Malaysia)) BRITISH American Tobacco (M) Bhd's (BAT) net profit expanded 20 per cent for the three months to March 31 compared with the same period in 2005, and the company expects to improve its profit this year. ...

Higher costs trim Bursa Q1 net profit.
April 28, 2006... (From Business Times (Malaysia)) MALAYSIA'S stock exchange operator, Bursa Malaysia Bhd, said its first quarter net profit fell 8 per cent due to higher expenses and lower interest income. Bursa also announced its main financial...

The Red Book road to better profits for GLCs.
April 27, 2006... (From Business Times (Malaysia)) MALAYSIA'S top 15 government-linked companies (GLCs) could see their collective pre-tax profit surge by as much as 70 per cent if they improve spending practices. This is the possibility that awaits...

3,500 expected to opt for MAS separation scheme (HL).
April 27, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin SIXTEEN per cent, or some 3,500 of Malaysia Airlines' (MAS) employees, are expected to apply to leave in the first round of the national carrier's mutual separation scheme...

TH Plantations seen reaping good premium.
April 27, 2006... (From Business Times (Malaysia)) TH PLANTATIONS Bhd, which is listing on Bursa Malaysia's main board today, should fetch a good premium given its attractive valuation and dividend policy, analysts said. They said the oil palm...

Bank Negara raises overnight policy rate.
April 27, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran BANK Negara Malaysia (BNM) yesterday raised the overnight policy rate (OPR) by 25 basis points to 3.5 per cent, the third increase in five months as it fights to cap inflation...

Proton fine-tunes export strategy.
April 27, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah PROTON Holdings Bhd has the potential to sell more cars abroad but the national carmaker has been let down by its suppliers, managing director Syed Zainal Abidin Syed Mohamed...

Bursa unveils margin rates for SSFs.
April 27, 2006... (From Business Times (Malaysia)) BURSA Malaysia yesterday announced margin rates in preparation for the launch of single stock futures (SSFs) tomorrow. The initial margin rates are to be collected from investors before a futures...

Ramunia sees RM330m earnings from order book.
April 27, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun ABOUT half of Ramunia Holdings Bhd's estimated RM600 million order book should translate into earnings this year, managing director Arshad Ahmad said. Ramunia makes steel...

Tradewinds to expand Indonesia oil palm landbank.
April 27, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar TRADEWINDS Plantation Bhd is looking to expand its oil palm landbank in Indonesia, in an effort to reduce the group's cost in doing business. Managing director Dr Radzuan...

QL Resources expects to maintain growth.
April 27, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh DIVERSIFIED group QL Resources Bhd (QLR) is confident of maintaining 20 per cent growth in the financial year ended March 31 2006. Managing director Chia Song Kun said the...

Scomi ropes in foreign partners to bid for deals.
April 27, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam SCOMI Engineering Bhd, a firm that is better known for its oil and gas business, is roping in foreign partners to bid for contracts to supply armoured vehicles to the...

Impressive run by counter.
April 27, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia rose yesterday as sentiment brightened in tandem with the strong regional stock markets. The Kuala Lumpur Composite Index (KLCI) rose right from the opening...

'Proton, Perodua must rev up to face changes'.
April 27, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah; Goh Thean Eu GLOBALLY, this year is going to be historic for the automotive sector as Toyota Motor Corp will overtake General Motors Corp as the number one carmaker. ...

Fiberail wants to go all the way.
April 27, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar FIBRE optic network operator Fiberail Sdn Bhd is in talks with several last-mile broadband providers to offer a combined package of voice, video and data services along with...

Modesto's spices up Johor Baru dining scene.
April 27, 2006... (From Business Times (Malaysia)) Byline: Chuah Bee Kim MODESTO'S, the Italian food and beverage (F&B) chain, has opened an outlet at The Zon shopping complex in Johor Baru. The opening of the RM500,000 restaurant, owned by...

Naluri turns The Zon into family retail, leisure hub.
April 27, 2006... (From Business Times (Malaysia)) Byline: Ravi Nambiar PROPERTY developer Naluri Corp Bhd is going on a major marketing blitz to relaunch the duty free zone complex in Johor Baru, which it bought for RM144 million in January last...

RHB's US$190m bond proposal hits snag.
April 26, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin; Chong Pooi Koon IT WAS billed as possible fiery affair, pitting two major shareholders of financial group Rashid Hussain Bhd (RHB), the Employees Provident Fund (EPF) and...

Rubber glove makers upbeat over exports.
April 26, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching MALAYSIA, the world's biggest supplier of medical rubber gloves, is confident that this year's total rubber glove exports will continue to be on the uptrend despite more...

Kump Perangsang unit to issue RM738m bonds to fund water firm buy.
April 26, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar KUMPULAN Perangsang Selangor Bhd's (KPS) 55 per cent subsidiary, Titisan Modal (M) Sdn Bhd, will issue up to RM738 million worth of bonds to fund its acquisition of water...

CCM aims to be regional player in 5 years' time.
April 26, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail CHEMICAL Company of Malaysia Bhd (CCM), the country's largest fertiliser maker, aims to become a regional player in five years' time. CCM is 64 per cent owned by...

Petronas extends LNG deal with Chubu.
April 26, 2006... (From Business Times (Malaysia)) PETROLIAM Nasional Bhd (Petronas), through its subsidiary Malaysia LNG Sdn Bhd (MLNG), has expanded a deal to supply liquefied natural gas (LNG) to Chubu Electric Power Co Inc (Chubu Electric), the second...

Manuals to help boost GLC performance.
April 26, 2006... (From Business Times (Malaysia)) Byline: Shahriman Johari A MANUAL on how Government-linked companies (GLCs) could probably save on their RM50 billion annual spending for procurement will be unveiled by Prime Minister Datuk Seri...

Bursa announces new listing fee structure.
April 26, 2006... (From Business Times (Malaysia)) BURSA Malaysia Bhd has announced a comprehensive revision of the listing fee structure for the Main Board, Second Board and Mesdaq Market. Approved by the Securities Commission, the revision covers...

Malaysia, US making progress on proposed FTA.
April 26, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar MALAYSIA and the US are making progress on a proposed Free Trade Agreement (FTA), US Commerce Department Deputy Secretary David A. Sampson said yesterday. A major issue to...

HDM-Carlaw aims to grow export sales.
April 26, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun HDM-Carlaw Corp Bhd which offers manufacturing-system solutions, aims to grow export sales to some 90 per cent of revenue from this year onwards, as the newly-listed entity...

AmInvestment launches equity fund.
April 26, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario AMINVESTMENT Group Bhd, the investment banking arm of AMMB Holdings Bhd, has added a global Islamic equity fund to its stable of funds. "The new fund - Malaysia's first...

Have you filed your income tax returns?
April 26, 2006... (From Business Times (Malaysia)) Byline: Dr Veerinderjeet Singh AS ALL OF US should be aware, the filing deadline for income tax return forms is fixed under the self-assessment system as all of us have filed our personal tax returns...

MAS: Cost-cuts will not affect customer service.
April 26, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar MALAYSIA Airlines' (MAS) cost-cutting measures under its business turnaround plan will not affect the services for customers. "With the business turnaround plan, people...

JAKS price to re-test 68 sen.
April 26, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock AFTER the sharp technical pullback on Monday, share prices on Bursa Malaysia continued to consolidate in range-bound trading as the benchmark Kuala Lumpur Composite Index (KLCI)...

Digging tunnels in Taiwan: The story of Gamuda.
April 26, 2006... (From Business Times (Malaysia)) AS SOON as the traffic light turned green, Coco Shen Ching-Hui revved her scooter's accelerator and roared ahead. The 29-year-old secretary joined the many scooter riders, who appear to outnumber...

Local projects vital to sustain future growth, says firm.
April 26, 2006... (From Business Times (Malaysia)) WITH an order book that could more than triple to RM8 billion in two years, Gamuda Bhd has built up a reputation as one of the most proficient construction firms in winning jobs abroad. It has built...

IFCA expects overseas business to outpace local ops.
April 26, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus IFCA MSC Bhd, a Mesdaq-listed content solutions developer, expects sales from its overseas business to outpace those of its local operations in three years with the help of...

Construction sector will rebound: Reports.
April 26, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah THE construction sector will bounce back, albeit marginally, after having contracted two straight years in 2005 and 2004, according to the Ministry of Finance industry...

Proton making good progress (HL).
April 26, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah PROTON Holdings Bhd wants to consolidate its parts-making vendors, introduce cheaper Lotus cars, improve quality and expand export markets, its chief said. Managing...

GCH to open more Giant hypermarts (HL).
April 25, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan THE operator of Guardian and the Giant supermarket and hypermarket chain, GCH Retail (Malaysia) Sdn Bhd, will more than double its investment to RM252 million in Malaysia this...

Bursa to raise retail trade to 40pc.
April 25, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon BURSA Malaysia Bhd, with all its efforts to encourage retail investors to trade more, including the launch of a new subscription-based information product, hopes to raise...

Hospitech share applicants to get refund soon.
April 25, 2006... (From Business Times (Malaysia)) SUCCESSFUL applicants for the initial public offering (IPO) of Hospitech Resources Bhd can now heave a sigh of relief as their refund is in the mail. A spokesperson of the Securities Commission...

More govt loans for small businesses.
April 25, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid SMALL businesses now have more reasons to cheer as the Government has set aside more money for loans and it is also making it easier for them to get the funds. Bank Negara...

Natural rubber prices expected to fall back.
April 25, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching NATURAL rubber prices are expected to fall back, after edging up for three straight months, says Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui. ...

Private sector to do the spending.
April 25, 2006... (From Business Times (Malaysia)) Byline: Wan Hamidi Hamid MORE savings for the taxpayers - the private sector is expected to spend on behalf of the Government through private finance initiatives (PFI) to ensure continuous economic...

Pernec hopes to secure more projects in Uzbekistan, Middle East.
April 25, 2006... (From Business Times (Malaysia)) PERNEC Corp Bhd, an indirect information communications technology (ICT) subsidiary of Permodalan Nasional Bhd (PNB), aims to boost overseas revenue contribution to about 30 per cent in five years. ...

UEM World stages sharp technical rally.
April 25, 2006... (From Business Times (Malaysia)) MAJOR weaknesses on the regional stock markets capped Bursa Malaysia from staging a follow-through technical rebound. Overall market sentiment was dented on several key heavyweight index-linked counters'...

South Australia keen on halal food partnerships.
April 25, 2006... (From Business Times (Malaysia)) SOUTH Australia is keen to partner Malaysian firms in halal food production, International Trade and Industry Minister Datuk Seri Rafidah Aziz said. Deputy Premier of South Australia Kevin Foley, who...

SMS service for jobseekers launched.
April 25, 2006... (From Business Times (Malaysia)) ONLINE recruitment firm JobStreet Corp Bhd has launched a service dubbed "JobStreet SMS Apply", which allows jobseekers to respond to job vacancies by sending a SMS. In a statement yesterday, the firm...

Job flexibility contributes towards service excellence.
April 25, 2006... (From Business Times (Malaysia)) HUMAN capital represents the knowledge stock of an organisation as represented by its employees. Human capital is important as it is a source of innovation and strategic renewal, whether it is from...

Takaful Malaysia not ruling out ops in Kuwait.
April 25, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh SYARIKAT Takaful Malaysia Bhd (Takaful Malaysia), the pioneer Islamic insurance company in Malaysia, has not ruled out a possible move to operate takaful business in Kuwait. ...

Cathay resumes HK-Penang flights after 9-year lapse.
April 25, 2006... (From Business Times (Malaysia)) CATHAY Pacific Airways yesterday relaunched the non-stop flight between Hong Kong and Penang with much prom and splendour after a nine-year lapse. The service was re-introduced following an increase...

Venture into niche areas, local players told.
April 24, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario MALAYSIA'S business process outsourcing (BPO) industry says more needs to be done to brand the country as an effective BPO destination and to train more skilled workers to meet...

Citigroup said to be eyeing takeover of SBB Securities (HL).
April 24, 2006... (From Business Times (Malaysia)) Byline: Shahriman Johari US BANKING giant Citigroup is interested in taking over SBB Securities Sdn Bhd, sources said, as it seeks to have a local stockbroking presence. The firm failed to win...

Firm benefiting from unit trust programme.
April 24, 2006... (From Business Times (Malaysia)) NCB Holdings Bhd, one of the companies participating in the Minggu Saham Amanah Malaysia (MSAM) programme in Kuala Terengganu, has benefited from the annual programme started by Permodalan Nasional Bhd...

NCB sees big opportunities from sister firms.
April 24, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li NCB Holdings Bhd, which is 56 per cent controlled by Permodalan Nasional Bhd (PNB), sees big opportunities in providing third party logistics needs for the state-run fund...

In the business of outsourcing, the more players the merrier.
April 24, 2006... (From Business Times (Malaysia)) TOP local business process outsourcing officials participated last week at a "Malaysian BPO Roundtable" organised by Business Times to address the prospects and problems faced by the growing industry. ...

KiPark launches Cheras project.
April 24, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar PROPERTY developer KiPark Management Sdn Bhd, a member company of the KIP Group, expects its latest project to generate sales of about RM280 million. Known as KiPark...

MDIC reminder on beneficiary info.
April 24, 2006... (From Business Times (Malaysia)) THE Malaysian Deposit Insurance Corporation (MDIC) is reminding trustees of deposits in banks and financial institutions to submit beneficiary information by end of this month on a "best effort" basis....

OYL Ind poised to trend higher.
April 24, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock LAST week, shares on Bursa Malaysia rose across a wider front. as technical rebounds of key heavyweight index-linked stocks gave the benchmark Kuala Lumpur Composite Index (KLCI) a...

Mart vulnerable to late-week price pullback.
April 24, 2006... (From Business Times (Malaysia)) Byline: W.Q. Mun LONG-TERM Trend: Bullish Short-term Trend: Bullish in early trade, but vulnerable to a technical pullback in later part of this week. Momentum Index: +15 Relative Strength Index: 62...

Meeting demand for latest technologies.
April 24, 2006... (From Business Times (Malaysia)) MALAYSIA'S top two machinery exhibitions aim to meet the country's manufacturing demand for the latest technologies valued at RM30 billion a year. For the first time, Metaltech Malaysia and MTA...

Another week of selling.
April 24, 2006... (From Business Times (Malaysia)) THE fallout from the GII issue continued with government bonds enduring another horrid week. The entire government bond yield curve shifted up by almost 10 basis points as sellers swamped the market....

Sentiment on futures market to stay upbeat.
April 24, 2006... (From Business Times (Malaysia)) Byline: Bernard THE April contract on the Bursa Malaysia Derivatives closed higher at 943.50 last Friday on an average daily volume of 2,951 contracts transacted with a lower open interest of 23,025...

Bullish momentum to strengthen.
April 24, 2006... (From Business Times (Malaysia)) Byline: Ngu Chie Kieng THIS week will be an exciting week for Bursa Malaysia. For one, the much talked about and much awaited single stock futures (SSFs) will make its debut on Friday. For a...

Teong re-elected Amec chief.
April 24, 2006... (From Business Times (Malaysia)) TEONG Tek Lean has been re-elected president of the 20-member Association of Malaysian Express Carriers (Amec). Teong, who is also GD Express Carrier Bhd executive deputy chairman and chief executive...

Body: Streamline fees for movement of cargo.
April 24, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar MALAYSIA needs to streamline fees for cargo movement to make it a distribution hub, the Association of Malaysian Express Carriers (Amec) said. "(There are) too many fees...

Edible oils refiner Pan Century may be up for sale.
April 22, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail PAN Century Edible Oils Sdn Bhd, one of Malaysia's largest and oldest edible oils refiner, may be up for sale at between US$90 million and US$120 million (RM329 million and...

Talam cuts deal to revamp big portion of RM1.2b debt (HL).
April 22, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar PROPERTY developer Talam Corp has struck a deal to restructure a major portion of its RM1.2 billion debt. Its main financier has allowed Talam to defer payment on about...

JAKS targets RM500m contracts.
April 22, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar JAKS Resources Bhd has submitted proposals worth RM500 million to several state governments to replace pipes and build reservoirs in their states, said chairman Datuk Azman...

Bursa queries IFCA MSC.
April 22, 2006... (From Business Times (Malaysia)) SHARES of software developer IFCA MSC Bhd were heavily traded yesterday, gaining as much as 7 sen, or 13 per cent. It was the most active counter with 192.44 million shares traded, and closed 1 sen...

Govt wants win-win alliance between TNB and IPPs: Najib.
April 22, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel THE Government will only consider an electricity tariff increase once it has completed a comprehensive review of the country's power industry. Deputy Prime Minister Datuk...

I&P to launch Selangor project worth RM3.2b.
April 22, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail ISLAND & Peninsular Malaysia Bhd (I&P), Malaysia's largest property development company by landsize, will launch a new project in Selangor this year which has a gross...

Company plays important role in helping Bumis.
April 22, 2006... (From Business Times (Malaysia)) Byline: Roziana Hamsawi BEING a company in the stable of Permodalan Nasional Bhd (PNB) has its advantages and one is its ability to help Bumiputeras, says Island & Peninsular Bhd (I&P) managing...

Compugates to tap Asia-Pacific markets.
April 22, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee COMMUNICATION products distributor Compugates Holdings Bhd plans to tap the Asia-Pacific market this year to boost its revenue. The firm, which distributes prepaid cards,...

Sentiment to strengthen further next week.
April 22, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES prices on Bursa Malaysia rose across the board during the week as key heavyweights led the Kuala Lumpur Composite Index (KLCI) out of its recent consolidation phase. The Kuala...