Business Times (Malaysia) articles from April 2012

Business Times (Malaysia) archives from April 2012

Posco to seal deal with BLand.
April 30, 2012... Byline: Sharen Kaur KUALA LUMPUR: BERJAYA Land Bhd (BLand), a property and gaming company, is close to inking a partnership agreement with South Korean steelmaker Posco Group on the acquisition of up to 20 per cent in the former's US$3...

Global economic concerns to dictate sentiment on Bursa.
April 30, 2012... Byline: Sharen Kaur THE FBM Kuala Lumpur Composite Index (FBM KLCI) is expected to continue its downtrend this week as uncertainty in the eurozone coupled with concerns on the global economy temper risk appetite. Analysts are expecting...

Authority's assurance needed in times of distress.
April 30, 2012... Byline: Marina Emmanuel MORE than two weeks after the 8.6 magnitude earthquake off northern Sumatra was felt in Penang, paranoia appears to plague some, especially those who felt the jolts quite acutely on April 11. It was a public holiday...

Lucrative deals await Malaysian firms in Oman.
April 30, 2012... Byline: Rupinder Singh MUSCAT: MALAYSIAN companies have been invited to take part in lucrative infrastructure deals in Oman. The Omani government is spending up to US$10 billion (RM30.5 billion) on construction works this year, according...

Malaysian oil firms descend on Houston.
April 30, 2012... Byline: Rupa Damodaran KUALA LUMPUR: Malaysia will be getting its largest 'exposure' in the oil and gas sector at this year's Offshore Technology Conference (OTC) in Houston, the US. The OTC has been tagged as the world's foremost event...

Asia's first Legoland theme park opening slated for September 15.
April 30, 2012... KUALA LUMPUR: Asia's first Legoland theme park, dedicated to the popular toy bricks, is set to open for business on September 15 this year. "I am pleased to announce that due to the hardwork of all our contractors, we will be opening the park...

Pulai Springs unfazed by competition.
April 30, 2012... JOHOR BARU: An additional 2,000-odd hotel rooms will enter the Johor market this year, but Pulai Springs Resort is unfazed and expects its performance to improve this year. General manager Tengku Ahmad Faizal is expecting gross operating...

MTC to spearhead promotion of Malaysian furniture.
April 30, 2012... KUALA LUMPUR: The Malaysian Timber Council (MTC) will, once again, spearhead the development and promotion of the Malaysian furniture industry, after a hiatus of eight years. Recently, the Ministry of Plantation Industries and Commodities...

Greener environment or protectionism?
April 30, 2012... Byline: Ooi Tee Ching FACING BARRIERS: Oil palm, despite being the most efficient crop for biofuel, is still considered not as sustainable as other oil crops. A flag bearer for the palm oil industry and an economist tell Ooi Tee Ching of...

Death of the confidence fairy.
April 30, 2012... Byline: Paul Krugman THE good news first: People are finally admitting that austerity measures are not working. Now the bad news. There seems to be little prospect of a near-term course change. This was the month the confidence fairy died....

Indicators signal further correction.
April 30, 2012... Byline: Kaladher Govindan LAST week, the local stock market ignored the positive cues from a stabilising US housing market and the Federal Reserve chairman's dovish stand to stimulate growth if necessary, and instead chose to respond to...

Can-One rebounds, heads for medium-term resistance zone.
April 30, 2012... Byline: S.N. Lock INVESTOR sentiment on Bursa Malaysia took a turn for the worse and share prices staged a follow-through technical pullback last week. The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) stayed below the...

Package it and brand it right!
April 30, 2012... Byline: Hafsah Hashim LAST week, when thousands of Kelantanese came in droves to participate in our maiden Jom Niaga event in Bachok, graced by the deputy prime minister, we knew that we were making waves in the East Coast of Malaysia. ...

Rosy outlook for Johor hotels as theme parks spring up.
April 28, 2012... Byline: Vasantha Ganesan KUALA LUMPUR: The opening of several amusement parks in the last quarter of 2012 is expected to augur well for the hotel operators in the southern state of Johor. Malaysian Association of Hotels' chairman Tengku...

ABN to give rivals a run for their money.
April 28, 2012... Byline: Zurinna Raja Adam KUALA LUMPUR: NEW player in the cable television market, Asian Broadcasting Network Sdn Bhd (ABN), is set to give its rivals a run for their money, promising to offer 25 per cent to 35 per cent cheaper start-up...

Let the buyer beware, no investment is risk-free.
April 28, 2012... Byline: Francis Fernandez THE stock market gang has been sending friendly banters to me - that Parliament will be dissolved soon, followed suit by a general election (GE). I am not sure where they are getting their information from, but...

UMW-Komatsu talks to supply heavy equipment overseas.
April 28, 2012... Byline: Sharen Kaur KUALA LUMPUR: UMW Holdings Bhd is in discussion with Japan's Komatsu Ltd to supply a broad range of heavy equipment to new markets overseas, its chief said. Currently, half of the revenue and profit for the group's...

Window of opportunity opens for SKB Shutters.
April 28, 2012... Byline: Ooi Tee Ching PETALING JAYA: SKB Shutters Corp Bhd, a company that makes roller shutters, steel doors and racking shelves for storage will soon venture into high performance windows. High performance windows are designed to withstand...

Hasbro on 'Best Corporate Citizens' list.
April 28, 2012... KUALA LUMPUR: Hasbro Inc, the world's second-largest toymaker, has been ranked 23rd on CR Magazine's list of the "100 Best Corporate Citizens" of 2012. The toy company is recognised for the increasing transparency regarding its corporate...

VisDynamics expects to remain profitable.
April 28, 2012... Byline: Presenna Nambiar KUALA LUMPUR: VisDynamics Holdings Bhd expects to remain profitable this year as the semiconductor equipment segment shows signs of increased activity. A designer of semiconductor components, the company lost...

BMW Malaysia opens MINI service centres in KK, Kuching.
April 28, 2012... KUALA LUMPUR: BMW Malaysia Sdn Bhd has launched its new MINI service centres in Kota Kinabalu and Kuching respectively to tap the growing demand there. The service centres, wgich are the first authorised MINI centres in Sabah and Sarawak,...

SAM identifies suppliers for new facility in Penang.
April 28, 2012... Byline: Marina Emmanuel GEORGE TOWN: SINGAPORE Aerospace Manufacturing (SAM) has identified up to six local suppliers to support its Malaysian subsidiary Aviatron (M) Sdn Bhd on mainland Penang. SAM president and chief executive officer...

Mapex Penang rakes in record RM90m.
April 28, 2012... KUALA LUMPUR: Property developers at the recent Mapex Penang 2012 property exposition clinched a record RM90 million in sales. Themed "The Most Lau Juak Property Show", the property expo showcased the newest property developments in the...

Wijaya Baru is now Tadmax Resources.
April 28, 2012... KUALA LUMPUR: Wijaya Baru Global Bhd is changing its name to Tadmax Resources Bhd. The new name had been approved and reserved by the Companies Commission of Malaysia for it, Wijaya said in a filing to Bursa Malaysia yesterday.

Asean Trading Link on track for June launch.
April 28, 2012... KUALA LUMPUR: The Asean Trading Link is on track for a June 2012 launch. Bursa Malaysia and Singapore Exchange will be connected first with the Stock Exchange of Thailand added in August 2012. This was announced by chief executive officers of...

RHBCap-OSK merger gets ministry nod.
April 28, 2012... KUALA LUMPUR: RHB Capital Bhd yesterday said the Ministry of Finance has approved its proposed merger with OSK Holdings Bhd. RHBCap and OSK had applied for the central bank's approval for the merger early this year.

FBM KLCI ends weaker for third week running.
April 28, 2012... Byline: S.N. Lock THE FTSE Bursa Mlaaysia Kuala Lumpur Composite Index (FBM KLCI) breached its downside supports of 1,590, 1,580 and 1,570 points in quick succession as it closed lower for the third consecutive week. The FBM KLCI moved...

Stemlife sells off stake in Indonesia firm.
April 28, 2012... KUALA LUMPUR: Stemlife Bhd has sold its entire 40 per cent stake in PT Prodia Stemlife Indonesia (PSI) for US$700,000 (RM2.1 million) after its Indonesian venture failed to take off since it was set up more than 18 months ago. PSI was a...

Consider Brazil, health supplement exporters told.
April 28, 2012... KUALA LUMPUR: Local health supplement exporters are urged to consider Brazil's growing market, which is currently worth some RM1.5 billion. Malaysia Trade and Development Corp (Matrade) said Brazil's growing middle class is a potential...

Asia warned of overheating risks.
April 28, 2012... Byline: Rupa Damodaran KUALA LUMPUR: ASIAN economies, which have largely contributed to the stability of the global economy, will need to look out for overheating pressures again in the second half of 2012, a senior International Monetary...

Felda Global offers 2.19b shares in IPO.
April 27, 2012... KUALA LUMPUR: FELDA Global Ventures Holdings Bhd (FGVH), enroute to a Main Market listing on Bursa Malaysia by end of next month or early June, is offering up to 2.19 billion shares in its initial public offering (IPO) for institutional and...

KLIA passenger traffic hit by MAS, AirAsia route cuts.
April 27, 2012... SEPANG: Kuala Lumpur International Airport (KLIA) underperformed regional airports in terms of passenger movement in the first quarter of 2012, due to route cuts by Malaysia Airlines and AirAsia. KLIA saw passenger movement grow by 6.9 per...

Flextronics' support augurs well for local industries.
April 27, 2012... Byline: Marina Emmanuel WHEN Flextronics International's vice-president of sourcing and procurement, Mark Shandley, came to town last week, he was eager to talk about the role Malaysian suppliers had played in supporting the company's global...

Tune Money keen to buy foreign insurance firms.
April 27, 2012... KUALA LUMPUR: Tune Money Sdn Bhd, the financial services arm of the Tune Group, plans to acquire foreign-based insurance companies and is in discussions with several parties now, its chief said. "We are looking at potential acquisitions of...

Sukuk market poised for growth.
April 27, 2012... KUALA LUMPUR: THE Malaysian sukuk market, which enjoyed a record year in 2011, is poised to grow further in years ahead, although there is a need to develop a more robust secondary market to enhance its appeal, said the Securities Commission...

Pernama turnover likely to reach RM235m in 2012.
April 27, 2012... KUALA LUMPUR: Pernama, a wholly-owned corporation of the Malaysian Armed Forces Fund Board (LTAT) said its turnover is likely to reach RM235 million this year, three years ahead of its targeted date. General manager Datuk Ab Wahab Khalil said...

CIMB Niaga Q1 net profit up 29pc.(Financial report)
April 27, 2012... Byline: Adeline Paul Raj KUALA LUMPUR: CIMB Group's Indonesian banking subsidiary, PT Bank CIMB Niaga Tbk reported a 29 per cent rise in first quarter net profit on higher lending in all its business segments. Net profit came in at 937...

Big spin-offs from Pengerang O&G project.
April 27, 2012... Byline: Shahrum Sayuthi KOTA TINGGI: THE RM5 billion Pengerang Independent Deepwater Petroleum Terminal (PIDPT) project, which will be completed about four years from now, is targeted to contribute RM19.8 billion in gross national income and...

Nestle: No immediate plans to increase prices.
April 27, 2012... Byline: Ooi Tee Ching KUALA LUMPUR: NESTLE (Malaysia) Bhd has no immediate plans to increase its food and beverage pricing despite having to stomach costly ingredients like coffee beans, cocoa powder, milk solids and palm oil. "There are...

New models to drive Suzuki towards targets.
April 27, 2012... BUKIT MERTAJAM: Suzuki Malaysia Automobile Sdn Bhd will launch a few new models this year to help meet its 10 per cent sales growth target. The new models do not include the Suzuki Ertiga multi-purpose vehicle (MPV) which may be unveiled only...

Proposed RHBCap-OSK merger may take 6 months.
April 27, 2012... Byline: Kamarul Yunus KUALA LUMPUR: THE proposed merger between OSK Investment Bank and RHB Capital Bhd (RHBCap) may take up to six months to be finalised once it receives the go-ahead from Bank Negara, OSK chief executive officer U Chen Hock...

SunREIT's RM850m debt notes.
April 27, 2012... KUALA LUMPUR: Sunway Real Estate Investment Trust's subsidiary, SunREIT Capital Bhd, has issued RM850 million in nominal value of commercial papers (CPs), which has been accorded a short-term rating of P1(s) by RAM Rating Services Bhd. The...

VTI Vintage, Zhejiang in joint venture.
April 27, 2012... KUALA LUMPUR: VTI Vintage Bhd's unit has signed a memorandum of understanding with China-based Zhejiang Zhongxia Investment Co Ltd to set up a joint venture to seek and manage construction projects.

Perdana to sell entire stake in Petra Energy.
April 27, 2012... KUALA LUMPUR: Perdana Petroleum Bhd is disposing of its entire 26.9 per cent stake in Petra Energy Bhd. The company has appointed CIMB Investment Bank Bhd to undertake a restricted tender process for the proposed divestment. Terms for the...

Ayamas eyes overseas debut by year-end.
April 27, 2012... Byline: Bilqis Bahari KUALA LUMPUR: KFC Holdings (M) Bhd (KFCH) will open 10 Kedai Ayamas outlets this year to complement its existing 85 outlets in the country. Kedai Ayamas will also make its overseas debut this year, with its first...

Bursa punishes two firms and directors.
April 27, 2012... KUALA LUMPUR: Bursa Malaysia has publicly reprimanded Axis Incorporation Bhd and has fined three of its directors a total of RM450,000 for breaches of listing requirements. The stock exchange has also reprimanded Ngui Kee Corp (M) Bhd and three...

Malaysia to hold trade shows in Oman, Qatar.
April 27, 2012... KUALA LUMPUR: Malaysia will hold the "1Malaysia Promotion" in Muscat, Oman, from April 29 and the Malaysia Services Exhibition (MSE) in Doha, Qatar, beginning April 30 to introduce local products and services and enhance exports to both...

Ekuinas posts RM165.7m gain.
April 27, 2012... KUALA LUMPUR: SECOND-YEAR PERFORMANCE: Government-linked private equity fund management company's returns exceed targets KUALA LUMPUR: GOVERNMENT-linked private equity fund management company Ekuiti Nasional Bhd (Ekuinas) recorded a total...

Mercedes-Benz sales rise.(Financial report)
April 27, 2012... KUALA LUMPUR: German carmaker Mercedes-Benz Malaysia's total sales in the first quarter ended March 31 2012 rose 0.5 per cent to 1,724 units of passenger and commercial vehicles combined. Mercedes-Benz's passenger car sales grew six per cent...

Scomi eyes RM2.5b job in Brazil.
April 26, 2012... Byline: Sharen Kaur KUALA LUMPUR: SCOMI Engineering Bhd, a 67 per centowned subsidiary of Scomi Group Bhd, is eyeing a new monorail project in Brazil, which is estimated to be worth more than RM2.5 billion. While details on the project are...

Ramunia closing in on RM150m Shell deal.
April 26, 2012... Byline: Francis Fernandez KUALA LUMPUR: Ramunia Holdings Bhd, an oil and gas company partly owned by Lembaga Tabung Haji, is close to securing a RM150 million contract from a unit of Shell Malaysia, sources said yesterday. It is understood...

Mudajaya sees enough coal for power plants.
April 26, 2012... Byline: Ooi Tee Ching PETALING JAYA: MUDAJAYA Group Bhd is positive on securing adequate coal supply from Coal India Ltd (CIL) to fuel up its power plants in Chhattisgarh. "There's no issue of potential coal shortage or squeezed margins,"...

'Buy' call on MAS' RCPS issue.
April 26, 2012... KUALA LUMPUR: OSK Research Sdn Bhd is recommending a "buy" on Malaysia Airlines' (MAS) redeemable convertible preference shares (RCPS) for short-term gain. The RCPS are currently trading at 93.5 sen to a RM1 redemption at maturity on October...

Navis, Hii offer RM1.19b for SEGi.
April 26, 2012... KUALA LUMPUR: Private equity fund Navis has made an unconditional general offer for education group SEG International Bhd (SEGi), with plans to subsequently take the company private. Navis, via Pinnacle Heritage Solutions Sdn Bhd, is acting...

SP Setia plans rail hub in KL Eco City.
April 26, 2012... Byline: Sharen Kaur SHAH ALAM: SP Setia Bhd, one of the country's biggest developers, is investing up to RM30 million to set up an integrated rail transport hub at its RM6 billion KL Eco City mixed development in Kuala Lumpur. The company...

Privasia bags Malacca fibre optic network deal.
April 26, 2012... PETALING JAYA: Privasia Technology Bhd has bagged a RM12.8 million contract from the Malacca state government to install a complete fibre optic network in the state. The project, expected to be completed by September this year, is expected to...

AOB tells audit firms to think twice before accepting more jobs.
April 26, 2012... KUALA LUMPUR: Audit firms, many of which face problems in the form of talent shortage and work overload, should think twice before accepting more audit jobs, says the Audit Oversight Board (AOB). The industry watchdog reminded audit firms...

S'pore firm finds more gold in Kelantan project.
April 26, 2012... KUALA LUMPUR: CNMC Goldmine Holdings Ltd, Singapore's first listed gold mining company, has found an additional 130,300 ounces of gold at its flagship 10 sq km Sokor Gold project in Kelantan, bringing its total joint ore reserves in the area to...

AmMutual sees good response to new fund.
April 26, 2012... Byline: Goh Thean Eu KUALA LUMPUR: AMINVESTMENT Bank Bhd expects its latest unit trust fund to be fully subscribed within a month due to encouraging response to the fund. The fund, dubbed AmDynamic Allocator, has an approved size of 500...

TH eyes 20,000ha land in Sarawak, East Kalimantan.
April 26, 2012... Byline: Sharen Kaur KUALA LUMPUR: TH PLANTATIONS Bhd plans to buy 20,000ha of plantation land in Sarawak and East Kalimantan, in a drive to own around 80,000ha by 2015, its chief says. "We have appetite for more land. We are exploring...

Chance to test-drive Nissan green car.
April 26, 2012... KUALA LUMPUR: The public is invited to experience the world's first mass produced, all-electric and zero-emission Nissan vehicle at Edaran Tan Chong Motor Sdn Bhd (ETCM) showroom next weekend. In a statement, ETCM said attendees at the...

Malaysia is not afraid.
April 26, 2012... Byline: Rupa Damodaran KUALA LUMPUR: OPENING the financial books to scrutiny by the international organisations like the International Monetary Fund (IMF) or World Bank shows that Malaysia is not afraid to share the state of its finances with...

Nestle nets RM158m in first quarter.
April 26, 2012... KUALA LUMPUR: Nestle (Malaysia) Bhd registered a 7.4 per cent rise in its net profit to RM158.1 million for the first quarter ended March 31 2012 compared with RM147.15 million in the previous corresponding period. Turnover during the quarter...

Ingress bags Honda parts supply deal.
April 26, 2012... KUALA LUMPUR: Ingress Corporation Bhd's subsidiary in Indonesia, PT Ingress Malindo Ventures, has been awarded a RM26.6 million contract to supply door sash parts for a new Honda model by PT Honda Prospect Motor. The five-year project to...

DiGiTel to redistribute capital.
April 26, 2012... KUALA LUMPUR: DiGi.Com Bhd's wholly owned unit, DiGi Telecommunications Sdn Bhd (DiGiTel) will undertake a RM495 million capital distribution to DiGi on the basis of cash repayment of 99 sen for every one RM1 share in DiGiTel.It plans to...

US still has faith in Doha talks.
April 26, 2012... Byline: Rupa Damodaran THE US is confident that the stalled Doha Round of talks under the World Trade Organisation (WTO) can still move forward albeit using different paths. While countries like Malaysia are willing to look at these...

Niger wants Petronas to resume oil exploration.
April 26, 2012... Byline: Rupinder Singh KUALA LUMPUR: Republic of Niger wants national oil company Petroliam Nasional Bhd (Petronas) to resume exploring oil and gas in the country. Nigerien Foreign Minister Mohamed Bazoum said he will write a formal letter...

MIDF to lend more to services sector.
April 26, 2012... KOTA KINABALU: Malaysian Industrial Development Finance Bhd (MIDF) expects its loan exposure to the services sector to increase in the coming months, from 30 per cent currently. Group managing director Datuk Mohd Najib Abdullah said this in...

40 hotels set for opening in Johor.
April 25, 2012... Byline: Vasantha Ganesan JOHOR BARU: WHOPPING 40 new hotels, predominantly within the three- and five-star categories, are slated for opening in Johor. Of the numbers, almost half are expected to be built within the next five years,...

US trade chief sees Malaysia as investment magnet.
April 25, 2012... Byline: Rupa Damodaran PUTRAJAYA: US trade chief Ron Kirk described Malaysia as a magnet for investments and its ongoing economic transformation plan enhances its attractiveness. And, the benefit of that all is the Malaysian people, he...

Hovid eyes plant in the Philippines.
April 25, 2012... Byline: Roziana Hamsawi MANILA: HOVID Bhd, a manufacturer of ethical drugs and health and dietary supplements, plans to build a manufacturing plant in the Philippines, possibly within two years, as its business here improves, said its...

OSK keeps its 'buy' call on Gamuda.
April 25, 2012... KUALA LUMPUR: OSK Research Sdn Bhd has maintained a "buy" call on Gamuda Bhd with fair value unchanged at RM4.57. MMC-Gamuda Klang Valley Mass Rapid Transit (KVMRT) joint venture bought tunnel boring machines recently to ensure the timely...

Cagamas pre-tax profit declines.(Financial report)
April 25, 2012... KUALA LUMPUR: Cagamas Holdings Bhd, the largest issuer of corporate debt securities in the country, reported a group pre-tax profit of RM591.5 million for the finan-cial year ended December 31 2011, a decrease of RM19 million from 2010. The...

Suc Ho Europe, Richmond to list merged entity.
April 25, 2012... Byline: Kamarul Yunus PETALING JAYA: THE move by Suc Ho Europe SRL, an affiliate of Philippines-based Suc Ho LLC Inc, and Richmond Energy Group UK Ltd to form a new company in Malaysia is to prepare it for a future listing. "The reason...

MOGSEC ideal networking platform for oil & gas firms.
April 25, 2012... KUALA LUMPUR: The Malaysian Oil and Gas Services Council (MOGSC) sees the Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) to be held here in September as an ideal networking platform for local industry players. "MOGSEC will...

Something big is coming soon.
April 25, 2012... Byline: Goh Thean Eu PETALING JAYA: CAPITAL TV, a niche channel for business-minded people produced by Online Dynamics (M) Sdn Bhd, aims to build a strong foundation in the local market before going abroad. Online Dynamics chief executive...

Public gets say in approval of hypermarkets.
April 25, 2012... Byline: Presenna Nambiar KUALA LUMPUR: The public now have a say in the approvals of new licenses for foreign hypermarkets. The Ministry of Domestic Trade and Consumer Affairs recently issued a directive stating that all foreign...

Malaysia on track to become key hub.
April 25, 2012... Byline: Bilqis Bahari KUALA LUMPUR: MALAYSIA'S maritime industry is on track to become one of the key hubs in Southeast Asia, apart from Singapore, due to its competitiveness and the availability of land to expand the ports. Malaysia...

Getting more out of logistics sector.
April 25, 2012... Byline: Bilqis Bahari KUALA LUMPUR: Asean members have embarked on an initiative to better integrate their logistics services, thus opening a window of opportunity for Malaysia to expand or gain access into regional markets. Malaysian...

Kyoto-based companies keen to invest in Malaysia.
April 25, 2012... Byline: Marina Emmanuel NAGOYA: JAPANESE companies operating in Kyoto have pledged to plough close to RM200 million via fresh investments and reinvestments into Malaysia this year. Deputy Minister of International Trade and Industry Datuk...

Scomi Group disposes of subsidiary.
April 25, 2012... KUALA LUMPUR: Scomi Group Bhd has sold 498 shares of 10,000 Iranian rials each, representing 99.6 per cent in Scomi Oiltools Kish Ltd (SOKL), to Behnam Mousavi Moustafa for RM52.1 million. As a result, SOKL has ceased to be a unit of Scomi....

Petra Energy appoints Peck adviser.
April 25, 2012... KUALA LUMPUR: Petra Energy Bhd has appointed John Michael Peck as group adviser for sub-surface development and production capabilities. Prior to joining Petra Energy, Peck was adviser to the Chinese Petroleum Co Taiwan in Malaysia. Petra Energy...

E&O unit buys property in London.
April 25, 2012... KUALA LUMPUR: Eastern & Oriental Bhd's (E&O) unit Oriental Light (Guernsey) Ltd is buying Princes House in London for STG20.25 million (RM100.24 million) from the Strathclyde Pension Fund. Only 10 per cent of the 46,087 sq ft of lettable...

Inland Revenue Board sues Pulai Springs.
April 25, 2012... KUALA LUMPUR: Pulai Springs Bhd is being sued by the Inland Revenue Board for a total sum of RM29.39 million in unpaid taxes including interest. Pulai Springs said that it expects the amount to have an impact on the group's cashflow position....