Business Times (Malaysia) articles from August 2001

Business Times (Malaysia) archives from August 2001

Hunt-Way to build infrastructure.
August 30, 2001... HUNT-Way Group signed a RM120 million contract with PuBel U-Home Everight Sdn Bhd yesterday to build infrastructure facilities at Pasir Mas Integrated Transport City in Kelantan. The infrastructure facilities include the transport...

Abdullah appointed NSTP Group Editor-in-Chief.
August 30, 2001... THE New Straits Times Press (M) Bhd (NSTP) has appointed Tan Sri Abdullah Ahmad as its Group Editor-in-Chief effective yesterday. He also remains as a director of the company. Abdullah, aged 64, was appointed as executive director of NSTP...

Sprint highway toll rates cut by up to 25pc.
August 30, 2001... THE proposed toll rates for the RM510 million Kerinchi Link and RM250 million Damansara Link of the Sprint highway have been reduced by between 16.67 and 25 per cent for all types of vehicles. For cars and other light vehicles (Class...

US firms concerned about supply of skilled IT workers.
August 30, 2001... US MULTI-national companies operating in Malaysia's electronic sector are concerned about the future supply of local skilled workers, especially in engineering and information technology (IT), according to a survey finding. The...

Longest Jalur Gemilang.
August 30, 2001... RECORD bid... Sabah Culture, Youth and Sports Minister Datuk Yahya Hussein, who is also state-level Merdeka Day Celebration organising chairman, receives from Sukau assemblyman Datuk Aklee Abbas Kinabatangan district's contribution of 100m...

Sarawak state election may be held next month: PM.
August 30, 2001... PRIME Minister Datuk Seri Dr Mahathir Mohamad yesterday said the Sarawak state election is likely to be held next month. Dr Mahathir said Sarawak Chief Minister Tan Sri Abdul Taib Mahmud had indicated to him during a meeting on Tuesday...

CPO price decline merely a correction, say traders.
August 30, 2001... A LACK of fresh fundamentals in the crude palm oil (CPO) market have pushed prices of palm oil down during the past week but traders insist that the decline was merely a major correction. They said commodity prices this week dipped...

KLSE probes steep price rise in Ho Wah Genting warrants (HL).
August 30, 2001... THE Kuala Lumpur Stock Exchange (KLSE) is investigating a steep rise in Ho Wah Genting Bhd warrants on suspicion that the counter has been "cornered", sources say. It has queried a number of stockbrokers about clients who recently traded...

Hume to distribute stake in OYL to its shareholders.
August 30, 2001... HUME Industries Malaysia Bhd has proposed to distribute its stake in OYL Industries Bhd to its shareholders, partly as a sweetener for a fund- raising exercise to repay debts and buy into loss-making Southern Steel Bhd. The scheme...

Sime to continue to buy Palmco shares.
August 30, 2001... SIME Darby Bhd will continue to buy shares in Palmco Holdings Bhd even if it is clear that it would not be able to secure 50 per cent plus one share and proceed with a general offer. "The worst case is not such a bad case actually," its...

Broadcast regulators in town.
August 30, 2001... BROADCAST regulators from 10 countries are in town for the Sixth Regulatory (Broadcast) Roundtable to address new challenges facing the industry in the Asia Pacific. The three-day conference which began on Tuesday is organised by the...

CIMB ties up with iBamboo.
August 30, 2001... COMMERCE International Merchant Bankers Bhd (CIMB) and iBamboo Capital Pte Ltd have jointly formed iCIMB, a Singapore-based corporate finance and direct investment firm yesterday. iCIMB will be headed by James Khong together with four...

Index increases 0.5pc.
August 30, 2001... THE MSC IT Index closed at 158.905 increasing 0.77 points from 158.135 on the previous trading day, reports www.MSCTimes.com. This represents a rise of 0.5 per cent with the market capitalisation of the MSC IT Index decreasing by RM5.953...

Independent and determined.
August 30, 2001... A BANNER strung across a shoplot proclaimed a "Jualan Merdeka", obviously intended to take advantage of the upcoming extended weekend. Its larger and more established counterparts across the nation - the major department store chains, the...

Report cards to determine discards.
August 30, 2001... AN EIGHT-year-old girl was severely reprimanded by her father when she was found to have altered her position in her report card. She erased the "1" from 17, making her position read as "7th". As the girl cried, asking to be...

Thai authorities seek more gas pipeline EIA info.
August 30, 2001... TRANS Thai-Malaysia (Thailand) Ltd (TTM) has been asked to submit additional information in its Environmental Impact Assessment (EIA) report for the Thai-Malaysian gas pipeline and separation plant projects in southern Thailand. The Thai...

i-WAP, Nokia sign global marketing deal.
August 30, 2001... i-WAP Systems (Asia) Sdn Bhd has signed a global marketing agreement with Nokia to promote i-WAP award winning application, handyBroker to Nokia's customers world-wide, particularly in the Asia Pacific region. handyBroker is a mobile...

Govt's efforts to increase productivity successful.
August 30, 2001... THE Government's efforts to attract capital-intensive and high-tech manufacturing operations has been fruitful; the productivity of local workers in the country's electronic industry has risen significantly. A survey by...

'Arus Murni suspension proof KLSE is serious'.
August 30, 2001... THE Kuala Lumpur Stock Exchange's (KLSE) move to suspend the trading of Arus Murni Corp Bhd on Monday is seen as sending across the message that the exchange is serious in implementing its new listing requirements. Arus Murni was...

UEM poised to bid for main civil works job for Bakum.
August 30, 2001... UNITED Engineers (Malaysia) Bhd (UEM) is poised to throw in a bid for the main civil works job of the RM9 billion Bakun Hydroelectric project, Malaysia's biggest construction job on offer this year. Malaysia's largest construction unit...

DRB-HICOM's Q1 pre-tax profit lower at RM29.2m.
August 30, 2001... DRB-HICOM Bhd registered a lower group pre-tax profit for its first quarter ended June 30 this year, posting RM29.21 million from RM85.92 million in the same quarter a year ago. The diversified group said it expects its group pre-tax...

Sporty Kelisa attracting buyers since its launch.
August 30, 2001... PERODUA's new sporty compact, the Kelisa, has been attracting the buyers since it was launched last week, but at the expense of the small-car maker's popular Kancil model. Sales of the Kancil, which had provided 75 per cent of Perodua's...

Guide to tax perks in venture capital industry.
August 30, 2001... THE Securities Commission (SC) has released guidelines to assist parties applying for tax incentives in the venture capital industry. These companies must obtain annual certification from the SC in order to enjoy the tax incentives, which...

Klibor futures close untraded.
August 30, 2001... THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures contracts closed untraded on the Malaysia Derivatives Exchange (MDEX) amidst the steady cash market rates. The futures market lacked interest as the cash rates hardly...

Spot futures close higher.
August 30, 2001... THE Kuala Lumpur Composite Index (KLCI) futures on the Malaysia Derivatives Exchange traded slightly higher despite the easier cash market which fell for the second day. A dealer said the August futures have turned positive indicating...

Market likely to stage slight technical rebound.
August 30, 2001... THE Kuala Lumpur Stock Exchange Composite Index (KLCI) is expected to stage a slight technical rebound today to retest the 700-point psychological level after posting two days of losses. Yesterday, the KLCI closed easier for the second...

'No Northport-PTP merger'.
August 30, 2001... THE merger of Northport in Port Klang and Port of Tanjung Pelepas (PTP) in Johor, while a sound business proposal to strengthen local ports' competitiveness against Singapore, is not on the cards. Northport Corp Bhd chairman Tan Sri Ahmad...

Sime Darby expects to maintain performance.
August 30, 2001... DIVERSIFIED conglomerate Sime Darby Bhd expects to maintain its performance in the current financial year ending June 30 2002, despite a possibility of a further economic slowdown. For its financial year ended June 30 2001, Sime Darby...

Degem forecasts higher profit of RM15.7m for 2001.
August 30, 2001... DEGEM Bhd, scheduled for an October second board listing on the Kuala Lumpur Stock Exchange, forecast a consolidated pre-tax profit of RM15.7 million for the year ending December 31 2001. This is an increase of 27.6 per cent on the result...

Index down 1.4pc.
August 29, 2001... THE MSC IT Index closed at 158.135 points, decreasing 2.249 points from 160.384 points on the previous trading day, reports www.MSCTimes.com. This represents a fall of 1.4 per cent with the market capitalisation of the MSC IT Index...

Ports bank on transhipment traffic to boost growth.
August 29, 2001... LOCAL ports are banking on transhipment cargo to boost throughput figures and sustain growth during the current global economic downturn. Industry sources said these ports focus on transhipment cargo as it has been proven to be...

Is US economy waiting for Lady Luck too?
August 29, 2001... AN AMERICAN, who a day earlier joined the growing unemployment line, will not have to work a single day in his life anymore. He was among the four who shared a US$295 million (US$1 = RM3.80) Powerball Lottery winning last weekend. Others...

Fly into action right away.
August 29, 2001... WHAT has become of the "flying squad" that was formed to monitor the utilisation of the RM3 billion fiscal stimulus package announced in March? It was established with the sole objective of ensuring that the money allocated to pump-prime...

Spot futures trend lower.
August 29, 2001... THE Kuala Lumpur Composite Index (KLCI) futures on Malaysia Derivatives Exchange traded lower yesterday as it tracked the easier cash market which took a breather after recent gains. A dealer said players were seen taking a wait-and-see...

Mart may experience another correction.
August 29, 2001... THE Kuala Lumpur Stock Exchange Composite Index (KLCI) could experience another round of correction today after failing to breach the psychological 700-point level yesterday. The KLCI's two-day winning streak came to a halt when it...

TM Cellular on track to return to black by end-2002.
August 29, 2001... TELEKOM Malaysia Bhd says its cellular arm TM Cellular is well on track to end a three-year losing streak and get into the black by end of next year. "We believe TM Cellular is on its way to achieve profitability by end- 2002," its chief...

Mixed reaction to MPI's lower results.
August 29, 2001... LARGEST listed chipmaker Malaysian Pacific Industries Bhd's (MPI) lower earnings for the year ended June 30 2001 receive mixed reviews from investors. In general, analysts said the results were in line with their expectations that the...

Motorola may retrench workers at Malaysian units.
August 29, 2001... It is believed that the layoffs will be across the board and may include Motorola's mobile phone and chip units, sources in Kuala Lumpur said yesterday. Chicago-based Motorola is the world's second-largest mobile phone maker and ranks...

Klibor futures slightly steadier at close.
August 29, 2001... THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures contracts of the Malaysia Derivatives Exchange (MDEX) ended slightly steadier yesterday as investors chose to trade the far-month contracts. At yesterday's close,...

Amanah Capital pre-tax up 61pc.
August 29, 2001... AMANAH Capital Partners Bhd (ACP) has recorded a 61 per cent increase in pre-tax profit to RM145.9 million for the six months ended June 2001, despite the challenging business environment brought about by the current economic slowdown. ...

Glomac certain of maintaining earnings despite slowdown.
August 29, 2001... PROPERTY developer Glomac Bhd is confident of maintaining its profitability for the current financial year ending April 31 2002, supported by several property development projects to be launched during the period. The company recorded...

Commerce Trust expects six-fold industry growth.
August 29, 2001... COMMERCE Trust Bhd, the country's fifth largest private sector unit trust company, expects the unit trust industry to grow six-fold to RM250 billion by the end of the decade. Its chief executive Yeoh Keat Seng said the projection is based...

Maybank proposes to undertake bonus issue of 1.2b shares.
August 29, 2001... MALAYAN Banking Berhad (Maybank) proposes to undertake a bonus issue of over 1.2 billion new ordinary shares of RM1.00 each to its shareholders on the basis of one new share for every two existing shares held. In an announcement...

Ranhill reports RM34.1m profit after tax.
August 29, 2001... INTEGRATED engineering-construction group Ranhill Bhd has reported RM34.1 million profit after tax and minority interest for the year ended June 30 2001, on turnover of RM425.4 million. The results exceed the profit forecast of RM32.3...

Malaysia is largest recipient of ODA loans.
August 29, 2001... IN a Business Times article "Malaysia is largest recipient of Japan's ODA loans" dated August 21, funding for the KLIA project was 61.5 billion yen, followed by the sewerage treatment plant project with 48.5 billion, and not as reported.

Viagra among Pfizer Malaysia's 3 best-selling products.
August 29, 2001... VIAGRA, a blue diamond-shaped wonder pill to treat erectile dysfunction (ED), has become one of Pfizer Malaysia Sdn Bhd's biggest earners since its launch in the country over two years ago. Pfizer Malaysia managing director Radzmi Rahmat...

US electronic firms here see rebound in exports.
August 29, 2001... US ELECTRONIC manufacturers in Malaysia expect exports to rebound from October but sales of electronic goods to drop by 11.8 per cent, according to a survey by the Malaysian-American Electronics Industry (MAEI). Survey respondents,...

Haulage sector faces drastic culling of players.
August 29, 2001... THE number of Malaysia's new hauliers will probably be culled by half to 25 from September 1 if the Government proceeds with a proposal to revoke licences that have remained inactive since their award last year. The Entrepreneur...

PNB announces 7.25pc dividend for ASW 2020 unitholders.
August 29, 2001... PERMODALAN Nasional Bhd (PNB) has announced a 7.25 per cent dividend for Amanah Saham Wawasan 2020 (ASW 2020) this year involving a RM135.93 million payout to 861,143 unitholders. PNB chairman Tan Sri Dr Ahmad Sarji Abdul Hamid said this...

RM3b stimulus may see only RM920m usage by year-end (HL).
August 29, 2001... ONLY about RM920 million of the RM3 billion fiscal stimulus package introduced by the Government in April is expected to be disbursed by year- end, with stringent bank rules, red tape and slower economic growth all seen as contributing to the...

Maybank posts a 38pc lower net profit of RM840m.
August 29, 2001... A HIGHER loan loss rate and bigger provisions for deterioration in assets saw Malayan Banking Bhd post a lower-than-expected net profit of RM839.6 million for its financial year ended June 30 2001, down 38 per cent from RM1.36 billion before....

Ircon starts civil works on double-tracking project.
August 29, 2001... INDIA's Ircon International Ltd, one of the two foreign parties in the proposed Malaysia's railway double tracking project, has initiated preliminary civil works on the project. An Ircon official said the company sees the project,...

Cygal may resume work on Plaza in Sept.
August 29, 2001... CYGAL Bhd may resume work on its RM200 million Plaza Cygal project in Kuala Lumpur as early as next month, starting with one of the complex's two office blocks, amid a pick-up in demand for office space in the Klang Valley. "Work on...

'Telekom expects slower subscriber growth'.
August 28, 2001... TELEKOM Malaysia Bhd's mobile subscriber growth will be slower than expected because of a slowing economy, says chief executive officer of Telekom Cellular Sdn Bhd, Mohd Khir Harun. "We review our business plan every quarter and our...

Index up 1.3 pct.
August 28, 2001... THE MSC IT Index closed at 160.384, increasing 2.092 points from 158.292 on the previous trading day, reports www.MSCTimes.com. This represents a rise of 1.3 per cent with the market capitalisation of the MSC IT Index increasing by...

XYBASE seeks more funds.
August 28, 2001... XYBASE (Malaysia) Sdn Bhd, a systems integrator with a strong foothold in airport sector, is considering to secure funding from venture capitalists to finance the company's expansion. XYBASE president and chief executive officer Suhaimee...

A good and just society - that's the Malaysian dream.
August 28, 2001... SCHOOLS become known to the public for their institutions, for the works of their teachers and the old boys/girls they produce. The Malay College Kuala Kangsar (MCKK),founded in 1905, has been remarkably distinguished. Much of its...

In keeping with Asean tradition.
August 28, 2001... INDONESIAN President Megawati Sukarnoputri is in town for a two-day official visit. Arriving from Singapore, she is on a whirlwind tour of Asean countries in keeping with a strong tradition among Asean leaders to call on the neighbours upon...

Vehicle sales for July increased by 8.7 pct.
August 28, 2001... TOTAL vehicle sales for July increased by 8.71 per cent which is also the highest since November 1997, as the Government's measure to revitalise the industry ensured demand remained fairly strong. "The more relaxed hire-purchase...

Kelisa expected to fuel Perodua's earnings.
August 28, 2001... PERUSAHAAN Otomobil Kedua Sdn Bhd's (Perodua) latest vehicle - the Kelisa - was officially launched last Friday. The Kelisa, expected to receive encouraging response from the public, especially Kancil owners who may want to up-trade, is...

X5 now available locally.
August 28, 2001... AUTO Bavaria has announced that the 3.0-litre version of BMW's acclaimed 4x4 sports luxury cruiser, the X5, is now available from its authorised dealers. The smaller-engined model arrived five months after the 4.4i-litre model made its...

Fiat sales encouraging despite slowdown.
August 28, 2001... TORINO Motor Industries (M) Sdn Bhd, the sole importer and distributor of Fiat and Lancia automotives, has been registering encouraging sales figure for its models despite a slowdown in the global economy. Its general manager Zuhairy...

15m Pantai shares change hands in married deal.
August 28, 2001... PANTAI Holdings Bhd saw a total of 15 million of its shares changing hands off-market in a married deal yesterday, which analysts say could involve Tongkah Holdings Bhd and Kestrel Securities Sdn Bhd selling their remaining stakes in the...

Unresolved issues may hinder ABS growth.
August 28, 2001... UNRESOLVED issues may hinder asset securitisation from taking off in a big way in Malaysia, despite companies' initial enthusiasm for the concept, experts say. Companies may find it difficult or even unprofitable to raise funds through...

Analysts still bullish on plantation sector's outlook.
August 28, 2001... ANALYSTS continue to be bullish on the outlook of the plantation sector despite the lower-than-expected earnings registered by some of the biggest plantation companies in the country. Yesterday, the Kuala Lumpur Stock Exchange (KLSE)...

EON, Tan Chong able to meet earnings forecast: Analysts.
August 28, 2001... EDARAN Otomobil Nasional Bhd (EON) and Tan Chong Motor Holdings Bhd should be able to meet their forecast earnings for the current financial year, despite tough challenges expected for the next four months, analysts said. Loke Chi Kien...

The Store may face need to re-strategise.
August 28, 2001... THE slowing economy may require The Store Corp Bhd to review its strategies in order to maximise profits, analysts said. Since The Store Corp's outlets are not in prime locations, relocation and reviewing its product line could help the...

Klibor futures untraded at close.
August 28, 2001... THE three-month Klibor (Kuala Lumpur Interbank Offered Rate) futures contracts on the Malaysia Derivatives Exchange (MDEX) were not traded yesterday as investors chose to stay out. Last Friday, Sept '01 was two ticks lower at 96.70,...

Battle of bulls, bears to lead to stalemate.
August 28, 2001... Long term: Uncertain. Short term: Consolidation phase. Momentum index: +70 Relative strength index: 44 Observations: Weakness in world edible oil markets was transmitted to the local CPO futures market last week, which...

Spot futures close higher.
August 28, 2001... THE Kuala Lumpur Composite Index (KLCI) futures on the Malaysia Derivatives Exchange (Mdex) was traded higher yesterday as it closely tracked the firmer cash market which rose for the second consecutive day. A dealer said the current...

KLCI two-day rise may face resistance today.
August 28, 2001... THE Kuala Lumpur Stock Exchange Composite Index's (KLCI) two-day rise may come to a halt today if the key index attempts to breach the 700-point resistance level. "Despite the support from local funds, the KLCI 700-point psychological...

Westport container traffic surged 37pc first 7 months.
August 28, 2001... WESTPORT hit a total of 752,367 TEUs (20-foot equivalent units) in the first seven months of the year, an increase of almost 37 per cent compared with the corresponding period last year. The increase was attributable to the new main line...

Inaugural Terminal Operations conference for US in Oct.
August 28, 2001... THE inaugural Terminal Operations Conference and Exhibition for the American continent will be held in Miami this October. The conference, held successfully in both Europe and Asia, will debate on terminal demand, supply and operations,...

Tenaga's Pakistan plant up and running.
August 28, 2001... TENAGA Nasional Bhd's wholly-owned gas-fired Liberty Power power plant in Pakistan has commenced commercial operation and made its first delivery on Friday. With a 25-year concession to generate and sell power at an average of 4.7 US...

MTD Capital in consortium to vie for Bakun job.
August 28, 2001... A CONSORTIUM of companies led by MTD Capital Bhd and the China National Water Resources and Hydropower Engineering Corp will make a bid for the Bakun hydroelectric dam project's main civil works package. The package is understood to be...

40 firms still with no plan to regularise finances face action (HL).
August 28, 2001... ARUS Murni Corp Bhd, slapped with a three-day trading suspension for failure to come up with a firm plan to regularise its finances, is expected to be only the first of up to 40 companies to face the action in the weeks ahead. The...

SPV to issue RM1.07b debt papers on Sept 11.
August 28, 2001... A GOVERNMENT-backed special purpose vehicle (SPV) will issue private debt papers worth RM1.07 billion on September 11, bondrunners say. The proceeds will be used to finance subscription of up to RM800 million worth of Malaysia Airlines...

Economists upbeat on economic pick-up.
August 28, 2001... THE estimated pick-up in the economy in the fourth quarter will still be feasible even if the US recorded a flat economic growth during the second quarter, according to economists. "We are blessed with a diversified economic structure, so...

RM3b fiscal stimulus underutilised, says Dr M.
August 28, 2001... THE Government's RM3 billion fiscal stimulus package, introduced end-March to neutralise the bearish influence of the US economic downturn, has been underutilised by its target audience. Prime Minister Datuk Seri Dr Mahathir Mohamad said...

Local firms making their presence felt in Pakistan.
August 28, 2001... MALAYSIAN investment in Pakistan has increased substantially in the last two years, and the trend is expected to continue as more privatization projects in that country are up for sale. Pakistan High Commission commercial counsellor Athar...

Govt agrees to deepen channel to Northport.
August 24, 2001... THE Government has agreed in principle the move to deepen the North Channel entrance to Northport, Port Klang. A shipping source said the dredging works have become a necessity with the need to handle larger container vessels calling at...

Bumps, falls may lead to spinal distortions in a child.
August 24, 2001... PEOPLE are often surprised when they come in our clinic and find children among the patients! When asked, I explain to them that the condition of a child's body in 20, 30, or 40 years from now, results from decisions that we make today,...

Tropical tranquility at its best.
August 24, 2001... SERENITY is at the heart of Pangkor Laut Resort, a refuge for languid urban dwellers. "Can we not go back?" said a colleague upon arrival at the Pangkor Laut jetty to the sun-soaked tropical island. Two days later, it certainly was...

An insight into realistic, pragmatic business ideas.
August 24, 2001... Title: Strategic Management in Malaysia: Concepts & Illustrations by Lim Yu Publisher: Malaysian Institute of Management Size: 9in by 6in, 151 pages. Price: RM30.00 BOOKS on management in Malaysia providing local applications and written...