Business Times (Malaysia) articles from December 2005

Business Times (Malaysia) archives from December 2005

MNP good for users but tough on telcos.
December 31, 2005... (From Business Times (Malaysia)) Byline: HO SIEW YEE; PRESENNA NAMBIAR MOBILE phone users may be able to switch telecommunications companies (telcos) without having to change their numbers by 2007. The proposed implementation of...

Maxis, partner buy India mobile operator (HL).
December 31, 2005... (From Business Times (Malaysia)) Byline: CHONG POOI KOON MAXIS Communications Bhd and a partner will pay about RM4.1 billion to buy Indian mobile phone operator Aircel Ltd, giving it a foothold in one of the world's fastest-growing...

Joint venture field delivers first gas.
December 31, 2005... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR SHELL Malaysia and Petronas Carigali Sdn Bhd have achieved a major milestone with the delivery of first gas from their jointly-operated new Shallow Clastics satellite field....

Metroplex to sell The Mall, Putra Place to EPF.
December 31, 2005... (From Business Times (Malaysia)) METROPLEX Bhd, a financially-troubled hotel and property firm, has agreed to sell its main assets that include The Mall shopping complex to the Employees Provident Fund (EPF) for some RM400 million,...

Current account surplus increases.
December 31, 2005... (From Business Times (Malaysia)) MALAYSIA'S current account surplus widened by 6.7 per cent, or RM1.2 billion, to RM19.1 billion in the third quarter from RM17.9 billion in the second quarter. The Statistics Department, in its...

UOA REIT to buy office building.
December 31, 2005... (From Business Times (Malaysia)) Byline: PRESENNA NAMBIAR UOA Real Estate Investment Trust (REIT) is set to buy Wisma UOA Bangsar, a newly-completed office building by property developer UOA Holdings Bhd, sources said. It is...

MCSB: Revenue to hit RM100m in shortest time.
December 31, 2005... (From Business Times (Malaysia)) Byline: ZURAIMI ABDULLAH INFORMATION technology (IT) services provider MCSB Systems (M) Bhd expects to remain profitable for years to come and revenue to breach RM100 million "in the shortest time",...

Wimems eyes 100pc earnings growth.
December 31, 2005... (From Business Times (Malaysia)) Byline: HO SIEW YEE DATA storage device maker Wimems Corp Bhd aims for a revenue growth of 100 per cent every year, driven by the launch of new products and the growing storage devices market. ...

Telekom to cut rentals with Plaza Cygal buy.
December 31, 2005... (From Business Times (Malaysia)) TELEKOM Malaysia Bhd is buying an office tower called Plaza Cygal for RM92.3 million to consolidate its entire operations close to the telecommunications company's headquarters. The move will reduce...

RMES: New division to boost revenue.
December 31, 2005... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI ENGINEERING Services Sdn Bhd (RMES) expects its newly-launched spares division to eventually double the company's average yearly revenue of RM20 million. Its chief...

World Cup to boost print media sector's ad earnings.
December 31, 2005... (From Business Times (Malaysia)) Byline: RUPA DAMODARAN ADVERTISING earnings growth in the print media industry is expected to jump significantly in 2006 with the Fifa World Cup, the banner sporting event, which will boost global...

Compugates to diversify earnings base.
December 31, 2005... (From Business Times (Malaysia)) Byline: CHONG JIN HUN NEWLY-LISTED Compugates Holdings Bhd is planning to diversify its earnings base from its main business of telephone prepaid cards distribution. Compugates, which derives some 80...

More takeovers, revivals of shopping complexes.
December 31, 2005... (From Business Times (Malaysia)) MALAYSIA can expect to see more takeovers, revival and rejuvenation of the shopping complexes in 2006 as retail property prices remain attractive. Foreign interests from Singapore, Europe and Australia are...

Higher interest rate to slow retail growth.
December 31, 2005... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN RETAILERS are in for a tougher time in 2006, as consumer spending loses some of its vital catalysts. One by one, events happening towards the tail-end of 2005 have taken...

KLCI likely to consolidate.
December 31, 2005... (From Business Times (Malaysia)) Byline: S.N. LOCK SHARE prices on Bursa Malaysia staged a mild technical yesterday. The widely-expected year-end window-dressing exercise fizzled out on the last trading day of 2005. Key...

Starlet joins LG marketing drive.
December 31, 2005... (From Business Times (Malaysia)) CONSUMER electronics giant LG Electronics (LG) has signed on South Korean starlet Lee Young Ae as the company's face for upcoming marketing campaigns aimed at the Asian market. Lee is the star of...

Zahid: Govt to help private sector develop tourism projects.
December 31, 2005... (From Business Times (Malaysia)) Byline: RUPINDER SINGH THE Government will partner the private sector to develop outstanding landmarks and facilities for tourists as the country seeks to halt the recent fall in visitor arrivals. ...

Metrojaya to relocate PJ store to The Curve.
December 31, 2005... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN DEPARTMENT store operator Metrojaya Bhd, after 14 years of operating in Menara Bakti Section 14 Petaling Jaya, Selangor will be relocated to The Curve in Mutiara Damansara to...

Carrefour to promote Bumi SMI products.
December 31, 2005... (From Business Times (Malaysia)) CARREFOUR Malaysia is spending RM300,000 to promote and display Bumiputera small- and medium-industry (SMI) products at its Alamanda, Putrajaya outlet, as part of its effort to establish a long-term...

Sunway Medical planning IPO or REIT (HL).
December 30, 2005... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN THE Sunway Group is planning to either float its healthcare arm, Sunway Medical Centre Sdn Bhd, or set up a real estate investment trust (REIT) in 2008 to give better returns...

Timber exports set to hit record RM21b this year.
December 30, 2005... (From Business Times (Malaysia)) Byline: OOI TEE CHING MALAYSIA'S timber exports are expected to reach a record RM21 billion this year as global demand rises sharply following reconstruction efforts in areas struck by natural...

MISC sails to month's high.
December 30, 2005... (From Business Times (Malaysia)) SHARES of shipping company MISC Bhd rose to a one-month high in the wake of its announcement that it had won two 20-year contracts to carry liquefied natural gas (LNG) for Yemen LNG. MISC gained 15...

SP Setia falls back after early gain.
December 30, 2005... (From Business Times (Malaysia)) SHARES of property developer SP Setia Bhd rose in early trade after the firm announced that it won a RM174 million contract from the Government to upgrade a road. However, the stock closed the day...

Indian bank aims to turn KL office into full branch.
December 30, 2005... (From Business Times (Malaysia)) Byline: KAMARUL YUNUS INDIAN Overseas Bank (IOB) is planning to upgrade its new representative office in Kuala Lumpur to a full-fledged branch within two years. The bank opened its Kuala Lumpur...

Supermax to steer APLI to profitability.
December 30, 2005... (From Business Times (Malaysia)) Byline: CHONG JIN HUN GLOVEMAKER Supermax Corp Bhd, which recently became the single-largest shareholder in loss-making rival APL Industries Bhd (APLI), plans to navigate the acquired unit back to...

Artwright to use Mexico as springboard into Nafta mart.
December 30, 2005... (From Business Times (Malaysia)) Byline: PRESENNA NAMBIAR OFFICE furniture firm Artwright Holdings Bhd plans to use Mexico as a stepping stone to tap the lucrative North American market said to be worth RM76 billion. Artwright...

TH Hin extends gain amid brewing boardroom tussle.
December 30, 2005... (From Business Times (Malaysia)) SHARES of TH Hin Corp Bhd, a maker of gas cookers, extended their gain yesterday, jumping 10 per cent, amid a brewing boardroom tussle. Volume was light and dealers were hard-pressed to find any reason...

Architects want to promote local firms overseas.
December 30, 2005... (From Business Times (Malaysia)) Byline: OOI TEE CHING ARCHITECTS want to be a part of the government's initiative to promote Malaysian companies in the overseas construction market. Pertubuhan Akitek Malaysia (PAM) president Dr...

Lethargic year ahead for construction sector.
December 30, 2005... (From Business Times (Malaysia)) Byline: CHONG JIN HUN AFTER hogging the limelight for more than a decade, the construction sector disappeared from the radar screen last year and will remain generally lethargic in 2006. With...

Thais to expand halal product mart.
December 30, 2005... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR THAILAND will set up a fund worth RM100 million to help expand the market for halal food products produced by Thailand and Malaysia. SME Development Bank of Thailand...

F&N unit buys Sime Oleander.
December 30, 2005... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN F&NCC Beverages Sdn Bhd, a unit of Fraser & Neave Holdings Bhd (F&N), has bought 51.12 per cent of Sarawak-based mineral water producer Sime Oleander Sdn Bhd for RM8.6...

Proposed revamp ready by Mar: Jin Lin.
December 30, 2005... (From Business Times (Malaysia)) Byline: RUPINDER SINGH JIN Lin Wood Industries Bhd is confident that its proposed restructuring scheme, under which its listing will be transferred to a white knight, will be completed by March next...

KPJ shares fall.
December 30, 2005... (From Business Times (Malaysia)) SHARES of hospital operator KPJ Healthcare Bhd fell slightly after it announced a plan to buy 60 per cent of Selangor Medical Centre (SMC) for RM48 million. KPJ eased 4 sen, or 2.6 per cent, to close...

Canon mulls store expansion.
December 30, 2005... (From Business Times (Malaysia)) Byline: GOH THEAN EU CANON Marketing (M) Sdn Bhd may set up a few more "concept stores" with business partners next year, depending on results of a feasibility study it is conducting. President...

Wijaya sees revenue boost from venture.
December 30, 2005... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI WIJAYA Baru Global Bhd expects its recent medical services venture to contribute more than half to the group's revenue by 2008. The new medical business, via its...

Tex Cycle stages mild rebound.
December 30, 2005... (From Business Times (Malaysia)) Byline: S.N. LOCK AT long last, share prices on Bursa Malaysia displayed signs of a belated year-end window-dressing exercise. Many of the key heavyweight index-linked counters rebounded ahead of the...

Manufacturing sector set to rebound in 2006: Avenue.
December 30, 2005... (From Business Times (Malaysia)) Byline: RUPA DAMODARAN THE much-delayed recovery in the manufacturing sector this year will provide a boost to the strength of the Malaysian economy next year, an economist said yesterday. Avenue...

Business intelligence to help telcos minimise risks.
December 30, 2005... (From Business Times (Malaysia)) WITHOUT proper management, telecommunications companies (telcos) may not be reaping the full potential of revenues and profits from third-generation (3G) services, business intelligence services provider...

Drive to help curb unwise spending.
December 30, 2005... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN THE Ministry of Domestic Trade and Consumer Affairs has allocated RM15 million next year for the "Smart Consumer" campaign as part of its efforts to help curb escalating...

Insurers post rise in gross premiums: Piam.
December 29, 2005... (From Business Times (Malaysia)) Byline: RUPINDER SINGH THE general insurance industry recorded an 8.2 per cent growth in gross premiums to RM8.09 billion for the first nine months of this year, up 1.8 per cent compared with the...

Cement, steel outlook less than rosy.
December 29, 2005... (From Business Times (Malaysia)) Byline: RUPA DAMODARAN CEMENT and steel producers, whose businesses have been affected by the weakened construction sector this year, may face an even tougher time in 2006. The Construction...

Nod for more branches (HL).
December 29, 2005... (From Business Times (Malaysia)) Byline: CHONG POOI KOON LOCALLY incorporated foreign banks may open four more branches within a year, beginning January 1 next year. However, the condition is that some of the new branches must be...

ASN unitholders to receive RM99.5m payout.
December 29, 2005... (From Business Times (Malaysia)) Byline: CHONG POOI KOON AMANAH Saham Nasional (ASN) unitholders will be getting a dividend of 5.5 sen per unit for the year ending December 31 2005. This is lower than the 5.6 sen per unit payout...

Kulim teams up with CremerOleo.
December 29, 2005... (From Business Times (Malaysia)) KULIM (Malaysia) Bhd has entered into a RM152 million joint-venture agreement with German group CremerOleo GmbH to set up two plants to produce biofuels and other downstream derivatives. ...

Sustained growth in financing to private sector last month.
December 29, 2005... (From Business Times (Malaysia)) THERE was sustained growth in financing to the private sector last month, Bank Negara Malaysia said yesterday. In its monthly report on monetary and financial developments, the central bank said...

Mah Sing to boost presence in Johor.
December 29, 2005... (From Business Times (Malaysia)) Byline: CHONG JIN HUN PROPERTY developer Mah Sing Group Bhd plans to build link and semi-detached houses, and shop lots on its newly-acquired land in Johor to strengthen the company's presence there,...

MISC wins major long-term contracts.
December 29, 2005... (From Business Times (Malaysia)) SHIPPING company MISC Bhd said it has signed two 20-year contracts to carry liquefied natural gas (LNG) for Yemen LNG. "The signing of these charterparties represents a major achievement in MISC's...

Fine TV optimistic of meeting subscriber goal.
December 29, 2005... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI FINE TV, the latest pay-television network, is optimistic of achieving its target of attracting at least 10,000 new subscribers annually. The third pay-TV network after...

SP Setia wins RM174m road upgrade job.
December 29, 2005... (From Business Times (Malaysia)) SP SETIA Bhd, a property developer, has won a RM174 million contract from the Government to upgrade a road in Johor. Construction work is scheduled to start in February next year and it will take...

MV Agusta sale expected to have positive impact on Proton.
December 29, 2005... (From Business Times (Malaysia)) Byline: GOH THEAN EU PROTON Holdings Bhd's disposal of loss-making MV Agusta Motor SpA should have a positive impact on the carmaker's financial position, and might be a prelude for the potential...

Analysts cautious on prospects of new player.
December 29, 2005... (From Business Times (Malaysia)) Byline: OOI TEE CHING ANALYSTS remain cautious about the prospects of a new pay-TV operator, with several saying that the Malaysian market may not be able to support all the three networks. An...

10m Maxis shares traded off-market.
December 29, 2005... (From Business Times (Malaysia)) ABOUT 10 million shares of Maxis Communications Bhd, Malaysia's leading mobile phone firm in terms of subscribers, changed hands in two off-market deals yesterday. The shares, representing a 0.4 per...

Imaspro expects higher profit as demand rises.
December 29, 2005... (From Business Times (Malaysia)) Byline: HO SIEW VEE PESTICIDE manufacturer Imaspro Corp Bhd expects its profit after tax to rise by 13 per cent in 2006 due to rising demand in Malaysia and abroad. The Klang-based company...

MMS Ventures offer oversubscribed.
December 29, 2005... (From Business Times (Malaysia)) THE shares offered to the investing public under MMS Ventures Bhd's initial share sale have been oversubscribed by 25.52 times, Malaysian Issuing House (MIH) said. The automation systems and...

Telcos ride on 3G pull for more subscribers.
December 29, 2005... (From Business Times (Malaysia)) Byline: GOH THEAN EU THIRD generation (3G) mobile services, barely a year old in Malaysia, will spark stronger rivalry next year among telecommunications companies (telcos) in the country as they...

Celcom hot on Maxis' trail.
December 29, 2005... (From Business Times (Malaysia)) THE subscriber base gap between market leader Maxis Communications Bhd and Celcom (Malaysia) Bhd is expected to narrow by the end of 2006, as the latter is able to attract more new subscribers. ...

DiGi holds bright postpaid prospects.
December 29, 2005... (From Business Times (Malaysia)) ALTHOUGH DiGi.Com Bhd is the country's smallest mobile phone company by subscribers, it is expected to add on the most number of new customers for postpaid services in 2005 and 2006. For the nine...

Cheaper mobile kits seen.
December 29, 2005... (From Business Times (Malaysia)) Byline: GOH THEAN EU TRY to find someone who does not have a handphone and chances are, it will be very difficult to do so. In a country of about 25 million people, more than two-thirds of the...

ECM Libra shares hit one-month high.
December 29, 2005... (From Business Times (Malaysia)) SHARES of financial firm ECM Libra Bhd rose to a one-month high yesterday after it announced that Khairy Jamaluddin has bought a significant stake in the company. ECM Libra gained 6.5 sen, or 9.6 per...

Telebiz seeks larger foreign clientele.
December 29, 2005... (From Business Times (Malaysia)) Byline: CHONG JIN HUN TELEBIZ Sdn Bhd, a business process outsourcing services provider, is seeking a larger foreign clientele to further grow the company's earnings. Telebiz, whose offerings include...

11pc of KFC traded off-market.
December 29, 2005... (From Business Times (Malaysia)) FAST-FOOD chain operator KFC Holdings (Malaysia) Bhd had some 21.7 million shares, which made up 11 per cent of the company, traded off-market yesterday. Stock exchange data showed that several deals...

KPJ buys 60pc stake in SMC.
December 29, 2005... (From Business Times (Malaysia)) KPJ Healthcare Bhd, via its wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd, is buying 60 per cent of Selangor Medical Centre (SMC) for RM48 million. In a statement to Bursa Malaysia...

Growing courier services demand to help GDex meet target.
December 29, 2005... (From Business Times (Malaysia)) Byline: ZURINNA RAJA ADAM GD EXPRESS Carrier Bhd (GDex) expects growing demand for courier services will help the company meet its double-digit growth target for the year to June 2006. "There is...

SilTerra upbeat over 2006 growth.
December 29, 2005... (From Business Times (Malaysia)) Byline: RUPA DAMODARAN SILTERRA Malaysia Sdn Bhd, a wafer foundry majority-owned by Khazanah Nasional Bhd, is optimistic of achieving good growth next year, given the positive outlook within the...

TH Hin shares climb on payout news.
December 29, 2005... (From Business Times (Malaysia)) SHARES of TH Hin Corp Bhd, a maker of gas cookers, rose to their highest in more than five years yesterday on news that it has proposed a dividend payout this fiscal year. TH Hin added 14 sen, or 4.2...

Glomac Q2 net more than doubles.
December 29, 2005... (From Business Times (Malaysia)) GLOMAC Bhd has reported net profit of RM9.8 million for the second quarter ended October 31 2005 on revenue of RM75.2 million. The net profit is more than double the RM4.4 million reported in the...

eBworx wins 3rd OCBC order.
December 29, 2005... (From Business Times (Malaysia)) EBWORX Bhd has won a RM6.18 million contract to implement its Digital Credit Management System - Secured Loan Module (DCMS) for Oversea-Chinese Banking Corp Ltd (OCBC). The contract encompasses...

MIT: Let body monitor tax advisory industry.
December 29, 2005... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR THE Malaysian Institute of Taxation (MIT) hopes the Government will allow a professional body like the MIT to monitor and regulate the tax advisory industry in Malaysia. ...

Nextnation Q2 profit up.
December 29, 2005... (From Business Times (Malaysia)) MOBILE application services provider Nextnation Communication Bhd said its net profit rose 10 per cent for its second quarter compared with the first quarter on demand for its products and services. ...

I&P to re-test resistance.
December 29, 2005... (From Business Times (Malaysia)) Byline: S.N. LOCK OVERALL market sentiment continued to drift aimlessly for the major part of yesterday's trading session. Its advance-decline ratio did not reflect the market's marginal gain....

VS optimistic despite dip in Q1 net profit.
December 29, 2005... (From Business Times (Malaysia)) ELECTRONIC parts and plastic moulds manufacturer VS Industry Bhd said its net profit fell by 8.5 per cent for the first quarter of fiscal 2006 due to a rescheduling of orders from one of its major...

Canon rolls out 2 more concept stores in Malaysia.
December 29, 2005... (From Business Times (Malaysia)) Byline: AUDREY DERMAWAN JAPANESE imaging giant Canon rolled out two more concept stores in Malaysia following the success of its flagship store in Suria KLCC last year. Yesterday, Simon Yam - an...

E.A. Technique sees better profit in 2006.
December 29, 2005... (From Business Times (Malaysia)) Byline: PRESENNA NAMBIAR E.A. Technique (M) Sdn Bhd, which transports clean petroleum products including jet fuel and unleaded petroleum, expects to see higher profit and revenue next year due to...

Expo on herbal and natural products.
December 29, 2005... (From Business Times (Malaysia)) THE 3rd Asia Pacific Natural Products Expo 2006 (Natpro 2006) will be held from August 17-19 at the Putra World Trade Centre in Kuala Lumpur. Natpro is recognised as an integrated marketing platform...

Green Packet eyes more China contracts (HL).
December 28, 2005... (From Business Times (Malaysia)) Byline: PRESENNA NAMBIAR GREEN Packet Bhd, a company that makes software for telecommunications companies (telcos), is entering the new year with plans to win contracts from another major telco in...

PT Peni deal to cost Titan US$78m.
December 28, 2005... (From Business Times (Malaysia)) MALAYSIA'S largest petrochemical firm, Titan Chemicals Corp Bhd, said it will pay US$20 million (US$1 = RM3.78) cash to buy PT Petrokimia Nusantara Interindo (PT Peni) and meet one of two options agreed...

Announcement on new Tabung Haji CEO expected.
December 28, 2005... (From Business Times (Malaysia)) THE office of the minister in charge of overseeing Lembaga Tabung Haji has declined to comment on a report regarding the appointment of a new chief executive officer (CEO) for the fund. However, it...

Signs manufacturing sector rebounding, says Public Bank.
December 28, 2005... (From Business Times (Malaysia)) Byline: RUPA DAMODARAN THERE are signs indicating that the subdued manufacturing sector is rebounding, a Malaysian banking group said in its latest report on the economy. Public Bank Bhd says the...

RM50m upgrade for TMpoint.
December 28, 2005... (From Business Times (Malaysia)) Byline: SHAHRIMAN JOHARI TELEKOM Malaysia Bhd has allocated some RM50 million to upgrade its retail outlets known as TMpoint, throughout the country. Telekom, Malaysia's most valuable telephone...

Satang expects higher earnings.
December 28, 2005... (From Business Times (Malaysia)) Byline: OOI TEE CHING SATANG Jaya Holdings Bhd expects to see better earnings in the current financial year as it had recently clinched a RM190 million maintenance concession from the Ministry of...

New substantial shareholders in Bandar Raya.
December 28, 2005... (From Business Times (Malaysia)) NEW substantial shareholders have emerged in property developer Bandar Raya Developments Bhd. Tania Aishah Khan and Sascha Saleem Khan are now substantial shareholders of Bandar Raya through their...

Wah Seong confident of oil and gas sector outlook.
December 28, 2005... (From Business Times (Malaysia)) THE oil and gas industry will continue to grow despite a rather "cautious" overall economy next year as the world focuses on meeting global energy demand for fast-growing economies like China and India,...

Diesel cost may crimp port operators' margins.
December 28, 2005... (From Business Times (Malaysia)) Byline: KANG SIEW LI HIGHER diesel cost and global port congestion are two major factors that may crimp local port operators' profit margins in 2006. OSK Research Sdn Bhd manager Chris Eng said...

Tanjong rises on earnings expectation.
December 28, 2005... (From Business Times (Malaysia)) SHARES of Tanjong plc, a power producer and gaming company, rose yesterday on reports that its earnings will see a rebound in the financial year ending 2007 after the company's considerable spending to...