Business Times (Malaysia) articles from August 2006

Business Times (Malaysia) archives from August 2006

StanChart: Economy will be strong next year.
August 31, 2006... (From Business Times (Malaysia)) Byline: Roziana Hamsawi THE slower loan consumption envisaged for the second half of this year is likely to turn around in 2007 as projects under the Ninth Malaysia Plan (9MP) take off, Standard...

Property unit sees 20pc return.
August 31, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching SIME Darby Bhd's property division expects its RM1 billion assets in eight countries to yield an average of 20 per cent return this financial year, buoyed by luxury property...

Power unit lifts Genting profit.
August 31, 2006... (From Business Times (Malaysia)) MALAYSIA'S gaming and power group Genting Bhd said its second quarter net profit rose by 3.3 per cent, with the power division contributing the most of all its businesses. Although higher sales were...

MAS net loss in Q2 down 36pc.
August 31, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin MALAYSIA Airlines (MAS) has reduced its net loss 36 per cent to RM176.5 million for the second quarter ended June 2006, on a 5 per cent increase in revenue to RM2.95...

NSTP posts higher revenue, earnings for 2nd quarter.
August 31, 2006... (From Business Times (Malaysia)) Byline: Roziana Hamsawi THE New Straits Times Press (Malaysia) Bhd (NSTP) registered a net profit of RM5.32 million for the second quarter ended June 30, compared to RM3.45 million in the same period...

Media Prima Q2 net profit doubles.
August 31, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu MEDIA Prima Bhd, which owns the country's most comprehensive range of media assets, doubled its net profit for the second quarter, helped by the group's expansion strategy and...

Earnings undertone good for April-June quarter: Analysts.
August 31, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj THE slew of corporate earnings that came in for the April-June quarter was generally better than expected, considering concerns about inflation and higher borrowing in that...

PM set to unveil expansionary Budget.
August 31, 2006... (From Business Times (Malaysia)) Byline: Rajan Moses EXPECTATIONS are that Budget 2007, to be unveiled by the Government tomorrow, will be expansionary, private sector friendly and help revive the sluggish construction sector. ...

Malaysia's Q2 economic growth beats forecasts.
August 31, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran THE Malaysian economy strengthened further into the second quarter with the gross domestic product (GDP) expanding at 5.9 per cent year-on-year, Bank Negara Governor Tan Sri Dr...

Deloitte KassimChan, Hwang-DBS reprimanded by SC.
August 31, 2006... (From Business Times (Malaysia)) THE Securities Commission (SC) has reprimanded Deloitte KassimChan and Hwang-DBS Securities Bhd for their failure to discharge due diligence responsibilities in the submission for Ocean Capital Bhd's...

(Media Prima Bhd has ...).
August 31, 2006... (From Business Times (Malaysia)) MEDIA Prima Bhd has appointed three new directors to its board, Datuk Seri Mohamed Jawhar, Datuk Kamarulzaman Zainal and Datuk Ahmad Farid Ridzuan. Mohamed Jawhar is currently chairman and chief executive...

Cycle & Carriage, VW talks break down.
August 31, 2006... (From Business Times (Malaysia)) TALKS between Cycle & Carriage Bintang Bhd and Volkswagen Group Malaysia Sdn Bhd to become a dealer of Volkswagen vehicles have broken down. Cycle & Carriage told Bursa Malaysia Securities Bhd...

Uptrend likely to continue.
August 31, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE benchmark Kuala Lumpur Composite Index (KLCI) stayed firmly above its support of 950 level yesterday as its market breath displayed a positive reading for the first time in many...

Tahan Insurance shifts focus.
August 31, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar GENERAL insurer Tahan Insurance Bhd, in the midst of streamlining its business, wants to cut its dependence on motor insurance and focus on the more lucrative healthcare,...

Measures to further boost services sector.
August 31, 2006... (From Business Times (Malaysia)) THE services sector is one of three main economic sectors targeted to move the Malaysian economy up the value chain under the Ninth Malaysia Plan. This sector had a share of the GDP of about 57.9 per...

Foreign fund managers eyeing Pelikan stake.
August 30, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee FOREIGN fund managers are keen to buy into stationery maker Pelikan International Corp Bhd, due to its growth potential, its executive chairman Loo Hooi Keat says. "Some of...

Laos power project expected to boost Gamuda order book.
August 30, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar MALAYSIA'S biggest infrastructure group, Gamuda Bhd, expects to double its order book to RM5 billion with its involvement in the Nam Theun 1 Hydroelectric Power project (NT1)...

AirAsia posts RM39m profit in Q4.
August 30, 2006... (From Business Times (Malaysia)) AIRASIA Bhd has recorded a fourth-quarter net profit of RM39.1 million, more than double the RM16.1 million it achieved a year ago, mainly on account of tax exemption given by the Ministry of Finance. ...

OSK reports commendable results for Q2.
August 30, 2006... (From Business Times (Malaysia)) FINANCIAL services group OSK Holdings Bhd reported commendable results for the second quarter of 2006, despite a slower trading environment on Bursa Malaysia Securities Bhd. The group posted a net...

Proton posts RM59m Q1 loss on lower sales.
August 30, 2006... (From Business Times (Malaysia)) PROTON Holdings Bhd posted a net loss of RM58.65 million in the first quarter to June, on RM1.42 billion revenue. The national carmaker had posted a loss of RM12.35 million on RM2.05 billion revenue...

Privatisation, delistings may take RM28b off mart.
August 30, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj A WHOPPING RM28 billion in market capitalisation could be "taken off" the stock market if all privatisation and delisting deals announced in 2006 come to fruition. This...

RHB Capital records stronger Q2.
August 30, 2006... (From Business Times (Malaysia)) RHB Capital Bhd, which controls RHB Bank Bhd, registered stronger second quarter results, helped by lower impairment loss, larger loan portfolio and its Islamic banking business. The company expects...

Guthrie H1 net profit surges to RM130m.
August 30, 2006... (From Business Times (Malaysia)) KUMPULAN Guthrie Bhd has benefited from foreign exchange gains and stronger results from its Indonesian operations, with its net profit surging to RM130 million for the first half year ended June 30 2006...

QSR shareholders re-elect 9 directors.
August 30, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar SHAREHOLDERS of QSR Brands Bhd unanimously voted for the re-election of nine directors of the company at its annual general meeting (AGM) yesterday. However, they...

Streamlining strategies paying dividends: Sime.
August 30, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin CONGLOMERATE Sime Darby Bhd's net profit has surged past the RM1 billion mark for the financial year ended June 30 2006, as streamlining strategies which began two years...

Pantai up on pact.
August 30, 2006... (From Business Times (Malaysia)) HEALTHCARE provider Pantai Holdings Bhd's share price rose 4 per cent yesterday, following an agreement that ended a year-long controversy over its ownership. It added 10 sen or 4 per cent to RM2.61...

Golden Hope plans palm oil hub in Venezuela.
August 30, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail MALAYSIA is set to export its palm oil expertise to Venezuela. For a start, Golden Hope Plantations Bhd may set up a nucleus estate there to bolster smallholder...

Resistance seen at 63.5-73.5 sen.
August 30, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE benchmark Kuala Lumpur Composite Index (KLCI) trended within range-bound trade from its intra-day low of 950.93 to its intra-day high of 955.20, closing at 953.22 yesterday,...

Budget 2007: What's Up?
August 30, 2006... (From Business Times (Malaysia)) Byline: Dr Veerinderjeet Singh THIS Friday, the focus will be on the presentation of Budget 2007 by the Minister of Finance. Based on what has been suggested and discussed by various parties, there...

QL Resources plans to set up biodiesel plant in Sabah.
August 30, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam DIVERSIFIED group QL Resources Bhd will invest up to RM160 million to build a biodiesel plant in Sabah. On Monday, the group signed an agreement with POIC Sabah Sdn Bhd...

Hyundai to make trucks in Malaysia.
August 30, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah HYUNDAI Motor Co has chosen Malaysia over other countries in South-East Asia to site the local production of its Hyundai Mighty HD series of trucks. Hyundai, Korea's...

KUB stages turnaround after 6 years of losses.
August 29, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar KUB Malaysia Bhd, after making losses for the past six years, has staged a turn-around in the first half of 2006 and expects the good performance to follow through for the...

Plans to introduce credit ratings for SMEs.
August 29, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid CREDIT Guarantee Corp (CGC), the provider of loan guarantees to Malaysia's small and medium enterprises (SMEs), will introduce a rating system on SME credit standing next year....

Uptrend gathers momentum.
August 29, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE benchmark Kuala Lumpur Composite Index (KLCI) continued to edge higher in late rebound, amid declines continuing to outpace advances 358 to 304, volume dipping below the...

PLUS formalises RM148m India deal.
August 29, 2006... (From Business Times (Malaysia)) PLUS Expressways Bhd has formalised its first overseas project, a RM148 million deal to upgrade a highway in India, and collect toll under a concession agreement. Malaysia's biggest toll highway...

Supermax spends RM60m to boost Seal Polymer output.
August 29, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun ENLARGED glove-making group Supermax Corp Bhd has to date spent close to RM60 million to boost its associate Seal Polymer Industries Bhd's glove output since taking a controlling...

Bank Negara offers scholarship, grant in Syariah-related fields.
August 29, 2006... (From Business Times (Malaysia)) BANK Negara Malaysia is offering the Syariah Scholarship Award and Syariah Research Grant to enhance pools of talent, knowledge and research capacity in Syariah-related fields, namely Islamic banking,...

Venezuela seeks palm oil cooperation with Malaysia.
August 29, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail OIL-RICH Venezuela may seek investments from Malaysia's palm oil sector as part of efforts to diversify its economy from being too dependent on fossil fuel. Malaysian...

Khazanah to turn Malaysia into regional healthcare centre.
August 29, 2006... (From Business Times (Malaysia)) EXCERPTS FROM KHAZANAH STATEMENT QUESTION: What is the rationale for this transaction? Is it driven by the need to regain control of Pantai by Malaysian interests? Answer: This transaction is significant...

Petronas wants to know reason.
August 29, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus PETROLIAM Nasional Bhd (Petronas) has questioned the reason behind Chad's demand that the national oil company and US-based oil firm Chevron leave the African nation immediately...

Ireka to sell Westin KL.
August 29, 2006... (From Business Times (Malaysia)) CONSTRUCTION company Ireka Corp Bhd wants to sell the Westin Kuala Lumpur's operator Ireka Hotels Sdn Bhd for RM455 million to an international property investment company, Newood Assets Ltd. In a...

Maybank 'excited' despite challenging environment.
August 29, 2006... (From Business Times (Malaysia)) MALAYAN Banking Bhd, which recently became the first Malaysian financial institution to report a pre-tax profit in excess of RM4 billion, sees exciting opportunities ahead despite a challenging...

Malaysia to be hub for SGL Carbon.
August 29, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh GERMANY'S SGL Carbon Group, the world's biggest maker of carbon and graphite products, plans to invest between Euro150 million and Euro200 million (RM707 million to RM942...

SC confirms Iris probe.
August 29, 2006... (From Business Times (Malaysia)) IRIS Corp Bhd shares could see some knee-jerk selling today following news that the Securities Commission (SC) is investigating the trading of its shares. Yesterday, Bernama reported that the SC is...

Hong Leong Bank net profit up 7pc.
August 29, 2006... (From Business Times (Malaysia)) HONG Leong Bank Bhd's net profit rose 7 per cent to RM549.92 million for the financial year ended June 30 2006, against RM513.44 million recorded last year. This was achieved on the back of 11.6 per...

Texchem picked to distribute GHope's pink guava products.
August 29, 2006... (From Business Times (Malaysia)) GOLDEN HOPE Food & Beverages Sdn Bhd, a unit of Golden Hope Plantations Bhd, has appointed Texchem Consumers Sdn Bhd as the distributor for its pink guava products to the local retail market. The...

OSK predicts 10-13pc tax hike for brewery sector.
August 29, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj ANALYSTS expect the brewery sector to face a moderate excise duty hike yet again in the upcoming 2007 national budget. "We expect a moderate 10-13 per cent tax hike," said...

Mems Tech surges.
August 29, 2006... (From Business Times (Malaysia)) SHARES of Mems Technology Bhd rose 6 per cent in active trade yesterday after it said it expected to see significant growth because of a surge in world demand for silicon microphones. Mesdaq-listed...

KLCC Property posts growth.
August 29, 2006... (From Business Times (Malaysia)) KLCC Property Holdings Bhd, owned by Petroliam Nasional Bhd (Petronas), registered growth in its first quarter net profit and revenue, helped by increased sales from its car park, retail mall and hotel....

Khazanah to take control of Pantai.
August 29, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee KHAZANAH Nasional Bhd moved yesterday to take control of Pantai Holdings Bhd, the country's biggest healthcare firm, from its Singaporean shareholder and help cool a political hot...

Bumiputra-Commerce Q2 net jumps to RM324m.
August 29, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon BUMIPUTRA-Commerce Holdings Bhd (BCHB) said its second-quarter net profit more than doubled to RM323.7 million, reflecting the first-time consolidation of its Singapore unit...

Ranhill plans to build sewage treatment plants in Libya.
August 29, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez RANHILL Bhd, the country's largest engineering company, plans to build two sewage treatment plants in Libya, says Tan Sri Hamdan Mohamad, the company's controlling...

SC approves licences for BNP Paribas, Nomura.
August 29, 2006... (From Business Times (Malaysia)) THE Securities Commission has approved BNP Paribas Asset Management and Nomura Asset Management as foreign fund management companies under a special scheme. There is already one foreign fund...

Makro hypermarkets up for sale.
August 29, 2006... (From Business Times (Malaysia)) MAKRO Cash & Carry Distribution (M) Sdn Bhd (Makro Malaysia), owner and operator of Makro hypermarkets, is up for sale. Its controlling shareholder, Dutch firm SHV Holdings N.V., and its Malaysian...

Economists see healthy growth for first half.
August 29, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran MALAYSIA is expected to announce healthy economic growth for the first half of this year on strong external demand and broad-based performance in the manufacturing sector. ...

Foreign firms keen on making Malaysia shared services, outsourcing hub.
August 29, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario THE Multimedia Development Corporation (MDeC), the government-owned institution responsible for the management of the Multimedia Super Corridor (MSC), is in talks with several...

Penang Port ready to upgrade and expand.
August 29, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel PENANG Port Sdn Bhd (PPSB) plans to spend close to RM1 billion over five years to expand the port and buy new equipment and machines. PPSB managing director and chief...

Malaysia keen to work with Germany on agri technologies.
August 29, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran MALAYSIA is keen to collaborate with Germany in developing agricultural technologies, International Trade and Industry Minister Datuk Seri Rafidah Aziz said yesterday. ...

Mercedes-Benz dealer on track to achieve sales target.
August 29, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu MERCEDES-BENZ passenger car dealer Si Khiong Star Sdn Bhd remains optimistic of hitting its 2006 sales target of 600 units, despite weaker industry numbers. The company,...

Survey: Room for improvement.
August 29, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee MALAYSIAN public-listed companies (PLCs) lack detailed disclosure on directors' remuneration and appropriate training for directors, an independent research shows. But...

Cotac secures buyers for modules.
August 28, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid COTAC Optronics Sdn Bhd expects its transistor liquid crystal display (TFT-LCD) plant in Perak Hi-Tech Park to generate sales of more than RM4 billion in the first year of...

Trane sees Malaysia as a key market.
August 28, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun US-BASED Trane, a heating, ventilating and air-conditioning (HVAC) solutions provider, regards Malaysia as one its key markets in Asia to further grow the company's business in...

PTP to position itself as preferred port in S-E Asia.
August 28, 2006... (From Business Times (Malaysia)) PORT of Tanjung Pelepas (PTP) will launch a branding campaign early next month to position the port as the preferred port in South-East Asia. The campaign will run in two phases. The first phase, to...

Market likely to decline in short term.
August 28, 2006... (From Business Times (Malaysia)) Byline: W.Q. Mun LONG-term Trend: Bullish Short-term Trend: Bearish, immediate overhead resistance level at between RM1,610 and RM1,615 Momentum Index: + 19 Relative Strength Index: 45 Observations:...

Move to strengthen shipbuilding, repair sector.
August 28, 2006... (From Business Times (Malaysia)) IN A move aimed at stemming the outflow of capital for the acquisition of marine transport products, especially ships, the Government will seek to strengthen the capacity and capability of the...

Kumpulan Perangsang to stay firm.
August 28, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock LAST week, share prices on Bursa Malaysia continued to inch higher on follow-through buying support of key heavyweight index-linked counters. Follow-through market momentum from...

FMM's hope - a more liberal business environment.
August 28, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran MANUFACTURERS hope the Government will further liberalise the business environment in Malaysia with the forthcoming Budget 2007, which would enable them to expand against the...

Vietnam: We want Malaysian investors.
August 28, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee NGUYEN Quoc Dung was speaking slowly in English, indicating that the language was clearly not his mother tongue. But Vietnam's ambassador to Malaysia has a job to do involving...

EATware to set up plant in Malaysia.
August 28, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez THE US-BASED EATware Corp plans to spend as much as RM150 million to set up a plant in Malaysia, which will create as many as 1,000 jobs, a senior official of its unit here...

Mayland seen front-runner for Sheraton Subang.
August 28, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan HONG Kong's Malaysia Land Properties Sdn Bhd (Mayland) appears to be the front-runner to take over the five-star Sheraton Subang Hotel and Tower. The 502-room hotel on a...

Lotus wins bid to buy 3-star Mint Hotel.
August 28, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur RESTAURANT operator, Lotus Family Restaurant Holding Sdn Bhd, has won a bid to buy the three-star Mint Hotel in Kuala Lumpur to expand its business. Although it is popular for...

Amanah Raya gets ministry approval for Labuan ops.
August 28, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar PUBLIC trustee Amanah Raya Bhd (ARB) has obtained approval from the Ministry of Finance (MoF) to set up an investment bank and an asset management company in Labuan. "We...

SAJ on track to hit NRW reduction goal for Johor.
August 28, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar WATER concessionaire SAJ Holdings Bhd (SAJ) is on track to meet its 20 per cent non-revenue water (NRW) concession target for Johor by 2010, said chief executive officer Ahmad...

Higher capacity to drive Eng Teknologi sales.
August 28, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee MAIN board-listed Eng Teknologi Holdings Bhd, a Penang-based hard disk drive (HDD) parts manufacturer, is bullish on sales growth for the second half of 2006 as well as next year,...

Solid interest in govt bonds.
August 28, 2006... (From Business Times (Malaysia)) IT was a good week for the bulls as the bond market forged ahead. Government bonds were bought up and despite the announcement of a reopening tender for the 10-year benchmark government bonds to the...

KLCI futures to consolidate.
August 28, 2006... (From Business Times (Malaysia)) Byline: Bernard THE August contract on Bursa Malaysia Derivatives closed higher at 951 last Friday. An average of 3,098 contracts was transacted with a decline in its open interest to 25,640...

PM orders immediate investigation.
August 28, 2006... (From Business Times (Malaysia)) Byline: Adrian David DATUK Seri Abdullah Ahmad Badawi has directed an immediate investigation into allegations of Petronas failing to honour corporate tax obligations in Chad. The Prime Minister...

Range-bound trading ahead.
August 28, 2006... (From Business Times (Malaysia)) Byline: Ngu Chie Kieng BURSA Malaysia's spurt last week to close above the critical resistance of 950 was not supported by broad-based interest in the market. It was driven mainly by selective...

Europlus expects to return to profitability.
August 26, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee CONSTRUCTION firm Kumpulan Europlus Bhd expects to be back in the black in the next two years with three ongoing projects in hand, its president-cum-chief executive officer says....

Hotlink goes beyond conventional.
August 26, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid HOTLINK, the mobile prepaid service from Maxis Communications Bhd, has upped the ante in the branding drive by coming out with high-impact advertisements, targeted at the youths...

Newly-rebranded ICATS aims for college varsity status by 2010.
August 26, 2006... (From Business Times (Malaysia)) Byline: Sulok Tawie FRESH from a rebranding exercise, state-linked International College of Advanced Technology Sarawak (ICATS) is aiming for college university status by the year 2010. "The...

Worldwide jumps.
August 26, 2006... (From Business Times (Malaysia)) SHARES of Worldwide Holdings Bhd jumped 26 per cent to RM3.20 yesterday after its parent company said it will pay RM3.50 per share to take the firm private. Perbadanan Kemajuan Negeri Selangor, which...

TM's unit in Indonesia to bid for gateway.
August 26, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon TELEKOM Malaysia Bhd's Indonesian unit PT Excelcomindo Pratama (XL) is eyeing an international gateway licence from the Government there, group chief executive officer Datuk...

SC quickens review of IPO requests.
August 26, 2006... (From Business Times (Malaysia)) THE Securities Commission will now take only a month, from three months before, to process an initial public offering (IPO) request by companies with a market value of at least RM500 million. This new...