Business Times (Malaysia) articles from December 2011

Business Times (Malaysia) archives from December 2011

OSK: Energy sector boom on the horizon.
December 31, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: Malaysia's power sector is expected to sizzle particularly in the second half of next year and 2013 with 4,500 megawatt (MW) of newly installed capacity under way, an investment bank said. OSK...

More changes brewing at MAS?
December 31, 2011... Byline: Presenna Nambiar KUALA LUMPUR: MALAYSIA Airlines (MAS) yesterday announced major changes to top management personnel for the new year amid talk of domestic probes being carried out on key personnel of the national carrier. Malaysia...

Will there be a meltdown? Your guess is as good as mine.
December 31, 2011... Byline: Francis Fernandez NEW year is just a day away. The good news is, 2012 might just end up like 2011, minus the fear factor. The year 2011 will go down in history as a year in which fear dominated the financial markets. There was...

AirAsia in deal to sponsor Queens Park Rangers' away shirt.
December 31, 2011... KUALA LUMPUR: AirAsia Bhd has sealed a one-year deal to sponsor Queens Park Rangers' away shirt in the Barclays Premier League for about RM2 million. AirAsia signed the agreement with the club's parent QPR Holdings Ltd yesterday. In a...

Media Prima reorganises ops into six anchor business units.
December 31, 2011... KUALA LUMPUR: Media Prima Bhd is undertaking a group-wide internal corporate restructuring to realign its operations into distinct business units. It involves the reorganisation of various entities within the group's existing business...

Yinson bids for RM800m jobs.
December 31, 2011... JOHOR BARU: YINSON Holdings Bhd, an integrated offshore services provider, is bidding for nearly RM1 billion contracts to add to its RM1.25 billion jobs in hand. "We are currently bidding for contracts worth RM800 million in the regional...

Islamic banking and finance to continue expanding in 2012.
December 31, 2011... KUALA LUMPUR: Despite the global financial crisis, Islamic banking and finance is expected to continue expanding next year, with Malaysia-based players ready to lead the pack regionally and internationally. The flaws in conventional finance...

V.S. Industry first quarter net profit drops 11pc.
December 31, 2011... KUALA LUMPUR: V.S. Industry Bhd's (VSI) first quarter net profit fell almost 11 per cent on increased competition and a higher share of losses from its Hong Kong-based associate. Electronics manufacturing services (EMS) provider VSI...

Khalid named Pos Malaysia's new chief executive officer.
December 31, 2011... KUALA LUMPUR: National postal company Pos Malaysia Bhd has appointed Datuk Khalid Abdol Rahman as group chief executive officer (CEO), with effect from tomorrow. Khalid, who holds a Diploma in Accountancy from UiTM, Bachelor of Science...

VW Malaysia drives away with 7 awards.
December 31, 2011... KUALA LUMPUR: Volkswagen Group Malaysia (VGM), a subsidiary of Volkswagen AG, has scooped seven awards from the motoring media fraternity this year. VGM managing director Ricky Tay said it will continue to educate Malaysians on "Das Auto, the...

Forget House, here's Watson.
December 31, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: IMAGINE having a Dr Gregory House from the popular television medical drama House,in every hospital and diagnosing all obscure ailments and saving hundreds of lives. This is the exact impression IBM's...

Sumatec Resources CEO resigns.
December 31, 2011... KUALA LUMPUR: Sumatec Resources Bhd chief executive officer Chong Chee Lion has resigned, it said yesterday, without giving reasons. Chong has more than 20 years of relevant experience in project management, financing and corporate financing,...

Firefly reaches out to govt agencies.
December 31, 2011... KUALA LUMPUR: Firefly is promoting its new twice daily services between Subang and Kuantan to government agencies. Firefly marketing and communications head Angelina C Fernandez said its findings had shown that there is a substantial amount...

OSK unit to co-manage S'pore funds.
December 31, 2011... KUALA LUMPUR: Financial services group OSK Holdings Bhd has forged an alliance with Gryphus Capital Partners Pte Ltd and Dejoera Holdings Ltd to co-manage approved funds in Singapore. In a statement yesterday, OSK said its indirect wholly-owned...

Bursa rebound enters third straight week.
December 31, 2011... Byline: S. N. Lock A LAST-MINUTE technical rebound sent the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to end 2011 on a positive note with share prices rebounding for the third consecutive week. Share prices on Bursa...

JCorp unlikely to accept Malay chamber's bid for QSR, unit.
December 30, 2011... Byline: Kamarul Yunus KUALA LUMPUR: Johor Corporation Bhd (JCorp) is unlikely to accept a hastily planned competitive bid to buy Kulim (M) Bhd's stake in QSR Brands Bhd and its fast food unit, KFC Holdings Bhd (KFCH). The Malay Chamber of...

Plantation exports bonanza.
December 30, 2011... Byline: Ooi Tee Ching KUALA LUMPUR: Malaysia can expect record high plantation commodity exports this year as global demand for palm oil, rubber and pepper surpasses supply. Plantation Industries and Commodities Minister Tan Sri Bernard...

BCorp six-month net profit rises.(Financial report)
December 30, 2011... KUALA LUMPUR: Berjaya Corp Bhd (BCorp) posted a higher net profit of RM426.5 million in the first six months ended October 31 2011, up from RM324.8 million a year ago. This was largely due to improved performance of its gaming and consumer...

RE producers in Sabah not 'FiT' yet.
December 30, 2011... Byline: Ooi Tee Ching KUALA LUMPUR: Renewable energy (RE) producers in Sabah, who are mostly biomass and biogas plant operators at palm oil mills, will not enjoy the 32 sen per kilowatt per hour (kWh) under the feed-in tariff (FiT). RE...

Box-Pak shares lose steam.
December 30, 2011... KUALA LUMPUR: Box-Pak (Malaysia) Bhd's shares lost steam yesterday after parent Kian Joo Can Factory Bhd denied it was taking its subsidiary private. At the close, Box-Pak lost 24 sen to settle at RM2.23 and was the second top loser on Bursa...

Holcim banks on green cement.
December 30, 2011... KUALA LUMPUR: Swiss cement group Holcim Malaysia is optimistic that its new green cement range will contribute to better sales and profit for 2012. In 2010, the company recorded RM202 million sales of various types of cement products and...

Cahya Mata clears air on cement shortage.
December 30, 2011... KUALA LUMPUR: Cahya Mata Sarawak Bhd has refuted claims that it is responsible for project delays as well as contributing to a surge in house prices. Cahya Mata's unit CMS Cement said it does not intend to monopolise the market and it is not...

RAM reaffirms ratings of Mid Valley Capital's bonds.
December 30, 2011... KUALA LUMPUR: RAM Ratings expects Mid Valley Megamall's average rental rate to continue trending upwards due to its locked-in tenancies and strong appeal to retailers. The rating agency has reaffirmed the "AAA" rating of Mid Valley Capital...

MRT Corp inks deals with Jalan Inai residents.
December 30, 2011... KUALA LUMPUR: MRT Corp has sealed the Points of Agreement (POA) with owners of 21 plots of land in the Jalan Inai area affected by the MY Rapid Transit (MRT) project. The agreements are expected to resolve all outstanding issues faced by land...

Holista Colltech seeks investors.
December 30, 2011... Byline: June Ramlee HOLISTA Colltech Sdn Bhd is looking for investors to be part of the world's first plant that manufacturers halal collagen and gelatine made out of sheep and fish skin. Its chief executive, Datuk Dr Rajen M, said the...

SEGi unveils changes to board.
December 30, 2011... KUALA LUMPUR: SEG International Bhd (SEGi) has promoted its chief executive officer Lee Kok Cheng to deputy managing editor and chief operating officer Hew Moi Lan to chief executive officer, with effect from January 1 2012. In a statement...

Maybank's Career Day an overwhelming success.
December 30, 2011... KUALA LUMPUR: Malayan Banking Bhd (Maybank)'s inaugural Career Day attracted more than 5,000 talent from diverse disciplines, professions and geographic localities. The bank also received over 2,700 e-resumes through the electronic channels...

Cypark bags RM14.7m landfill job.
December 30, 2011... KUALA LUMPUR: Cypark Resources Bhd has secured a new RM14.7 million contract for the upgrading of a landfill in Jempol, Negri Sembilan, from the Ministry of Housing and Local Government. In a statement yesterday, the company said the project...

Century plans distribution centres in PTP.
December 30, 2011... KUALA LUMPUR: Century Logistics Holdings Bhd has subleased an area within the Port of Tanjung Pelepas (PTP), Johor, for the next 43 years and intends to build distribution centres. The main sublessor of PTP is Pelabuhan Tanjung Pelepas Sdn Bhd,...

Box-Pak shares soar on talk of privatisation.
December 29, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: Kian Joo Can Factory Bhd is planning to privatise subsidiary Box-Pak (Malaysia) Bhd under a multi-million ringgit deal that will involve certain Japanese firms, sources say. Kian Joo would pay...

Retail sales likely to grow 6.5pc this year.
December 29, 2011... KUALA LUMPUR: Malaysia's retail industry is expected to grow 6.5 per cent this year, from last year's 8.4 per cent growth. The Malaysia Retailers Association (MRA), in its latest report, also anticipates the industry to grow 6.0 per cent next...

RAM: Borcos gearing may rise.
December 29, 2011... KUALA LUMPUR: Syarikat Borcos Shipping Sdn Bhd may buy six more vessels for a combined RM330 million over the next two years. If this happens, Borcos' gearing ratio could peak at around 2.8 times over the period, according to RAM Ratings. ...

Metrod shares rise 10 sen.
December 29, 2011... KUALA LUMPUR: Metrod Holdings Bhd, a manufacturer of copper wires and rods, saw its shares rose 10 sen yesterday, amid news that the company was disposing of its international operations and subsidiaries to an Austrian private equity firm. ...

Electronics likely to remain a 'weak spot'.
December 29, 2011... Byline: Rupa Damodaran KUALA LUMPUR: Electronics exports have so far this year remained sluggish with the weak global external demand and the scene is likely to continue into 2012. "We expect the global demand to continue sliding at least...

SC warns public of bogus letters that carry its logo.
December 29, 2011... KUALA LUMPUR: The Securities Commission (SC) has warned the public of bogus letters bearing its logo to solicit money for an illegal investment scheme. The SC said it has lodged a police report on the unauthorised and misleading use of its...

EONCap pays special dividend.
December 29, 2011... KUALA LUMPUR: EON Capital Bhd yesterday paid to its shareholders on the register as at September 15 this year a final tax-exempt special dividend of 3 sen per share. The final dividend is in addition to the previous first special dividend and...

MIDF maintains neutral call on WCT's stock.
December 29, 2011... KUALA LUMPUR: MIDF Research has maintained "neutral" call on WCT Bhd, despite the property developer receiving approval from the Vietnamese government to undertake a residential and commercial development in the capital city. Two days ago,...

Matrade seeks more funds for exporter development.
December 29, 2011... Byline: June Ramlee KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) is requesting additional funding from the government to sponsor more recipients under the Bumiputera and women exporters development programme. ...

First coil rolls off Acerinox's plant in Johor.
December 29, 2011... Byline: Kamarul Yunus KUALA LUMPUR: Spanish stainless steel producer Acerinox has commissioned the phase one of its joint venture Bahru Stainless factory in Johor early this month, with a total production capacity of 240,000 tonnes a year. ...

Tanaka's unit here sets RM2b annual sales target.(Company overview)
December 29, 2011... Byline: Kamarul Yunus KUALA LUMPUR: Tanaka Kikinzoku International Malaysia Sdn Bhd (TKI Malaysia), a Malaysian unit of Tanaka Holdings Co Ltd, has targeted annual sales of RM2 billion in the next few years, banking on its full-scale...

Alam Maritim bags RM29.8m Shell contract.
December 29, 2011... KUALA LUMPUR: Alam Maritim Resources Bhd has clinched a RM29.8 million contract from Sarawak Shell Bhd for the latter's E8 and F13K modules offshore job. Its unit Alam Maritim (M) Sdn Bhd is undertaking the job, which is expected to be completed...

Uzma gets time extension for placement.
December 29, 2011... KUALA LUMPUR: Bursa Malaysia has given Uzma Bhd an extension of six months until July 6 2012 to implement its private placement. Uzma had in May applied for the listing of and quotation of up to eight million new ordinary shares of 50 sen each -...

Engineer wins Proton Makeover.
December 29, 2011... KUALA LUMPUR: A software engineer from Johor, who owns a Proton Iswara Aeroback for the past 13 years, has been chosen as the recipient of Proton Holdings Bhd's makeover programme under the national carmaker's "Committed to be Better"...

Dabbawalas struggle to survive.
December 29, 2011... Byline: Bilqis Bahari KUALA LUMPUR: The Mumbai Dabbawalas is known worldwide for their precision and punctuality in home-cooked food delivery services. The dabbawalas, or tiffin carriers have survived for 120 years without using any kind...

JCorp mulls hotel sales.
December 28, 2011... Byline: Sharen Kaur KUALA LUMPUR: JOHOR Corp (JCorp) is considering selling some of its hotel assets and reinvesting the money to drive earnings from its hospitality business. JCorp Hotels & Resorts Sdn Bhd, the hospitality arm of the...

Takeover talk stocks Proton, UMW top gainers on Bursa.
December 28, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: Proton Holdings Bhd and UMW Holdings Bhd's shares were top two gainers yesterday on on-going takeover speculation. Proton shares were the top gainer, surging 41 sen to RM4.79, while its CH and CG...

Felda Global hits back at detractors.
December 28, 2011... KUALA LUMPUR: Felda Global Ventures Holdings Sdn Bhd (FGVH) has hit back at its listing detractors and reiterated that the initial public offering (IPO) remains on track. FGVH president and chief executive officer Datuk Sabri Ahmad stressed...

OCBC sees challenging year ahead.
December 28, 2011... Byline: Rupa Damodaran KUALA LUMPUR: The Malaysian economy is expected to face a challenging 2012, despite its strong domestic demand performance this year. OCBC Bank expects fiscal spending to support the economy next year, especially...

Massive Equity stake won't be sold to outsiders, says JCorp.
December 28, 2011... KUALA LUMPUR: Johor Corp (JCorp) has stressed that it is not selling its controlling stake in Massive Equity Sdn Bhd (MESB) to outsiders. MESB is a special purpose vehicle which recently proposed to privatise QSR Brands Bhd and KFC Holdings...

Northport sticks to its course.
December 28, 2011... Byline: Presenna Nambiar PORT KLANG: Northport (Malaysia) Bhd expects only small single-digit growth in container volume the next two years as it continues with its tempered growth strategy. "In the recessionary period of 2012/2013, we may...

Metrod to sell foreign operations.
December 28, 2011... KUALA LUMPUR: Metrod Holdings Bhd is disposing of its international operations and subsidiaries to an Austrian company for RM202 million. It announced yesterday that its unit, Metrod (Singapore) Pte Ltd, had signed a deal to sell ASTA...

Work on Family Entertainment Centre in Johor progressing well.
December 28, 2011... KUALA LUMPUR: The Family Entertainment Centre (FEC), a four-storey indoor theme park which will be home to the first Hello Kitty Town in southern Asia, is 80 per cent complete. Themed Attractions and Resorts Sdn Bhd managing director and...

Cosway to introduce new retail concept in Malaysia.
December 28, 2011... Byline: Ooi Tee Ching KUALA LUMPUR: Cosway Corp Ltd has set aside RM10 million to introduce a new retail concept in Malaysia next month to incorporate pharmacies within its Cosway stores. It is understood that an existing Cosway store can...

Tune Hotels wants to replicate success of Westminster property.
December 28, 2011... KUALA LUMPUR: Budget hotel chain Tune Hotels aims to replicate the high occupancy rate of its Westminster property for its second London property at Liverpool Street. This will be driven by high demand for affordable hotel rooms in London,...

RAM reaffirms ratings of Bank Pembangunan.
December 28, 2011... KUALA LUMPUR: RAM Ratings has reaffirmed Bank Pembangunan Malaysia Bhd's long- and short-term financial institution ratings at "AAA" and "P1" respectively. All the long-term ratings have a stable outlook. The long-term rating of the bank's...

Naza Kia aims to sell 300 Optima K5 a month.
December 28, 2011... Byline: Zaidi Isham Ismail PETALING JAYA: Naza Kia Sdn Bhd, which is part of the Naza group, aims to sell 300 units a month of its newly-launched Optima K5. Naza group joint executive chairman SM Nasarudin SM Nasimuddin said the all new...

TNB issues letter of intent for projects.
December 28, 2011... KUALA LUMPUR: Ingress Corp Bhd says Tenaga Nasional Bhd (TNB) has issued letter of intent (LoI) to an unincorporated joint-venture between its units for power management unit (PMU) projects worth RM55 million. The units are Multi Discovery Sdn...

Bank opens 11th branch in Cambodia.
December 28, 2011... KUALA LUMPUR: Malayan Banking Bhd (Maybank) has rolled out a new branch at Stung Meanchey in Phnom Penh, expanding its network in Cambodia to 11. Its deputy president and head of global wholesale banking Abdul Farid Alias said the branch...

Smart Wonder World sale completed.
December 28, 2011... KUALA LUMPUR: AEON Co (M) Bhd has completed the sale of the company's existing amusement business, Smart Wonder World, to AEON Fantasy (Malaysia) Sdn Bhd for RM22.4 million. The company had announced the sale on February 25 this year.

WCT unit in Ho Chi Minh City project.
December 28, 2011... KUALA LUMPUR: WCT Bhd says its unit WCT (S) Pte Ltd will undertake the residential and commercial development project in Ho Chi Minh City in Vietnam. The project is located at the development corridor of Nguyen Van Linh Expressway at the New...

MobileLINK goes to Felda.
December 28, 2011... KUALA LUMPUR: Bank Negara Malaysia's mobile customer service coach "MobileLINK", was launched on December 9. The service had embarked on its inaugural journey to Felda Tenggaroh 1 and Mukim Tenglu in Mersing, Johor, on December 17 and 18. ...

Market capitalisation matters.
December 28, 2011... WHAT is the difference between large and small market capitalisation unit trust funds and why does it matter to an asset allocation plan of a well-diversified portfolio? These are important questions to which every investor should know the...

RM950m for new trains.
December 27, 2011... Byline: Sharen Kaur KUALA LUMPUR: The government has budgeted nearly RM1 billion on new trains for the Ampang light rail transit (LRT) line extension project and KTM Bhd, sources said. The government, through Syarikat Prasarana Negara Bhd,...

'Binariang to separate India's Aircel from group'.
December 27, 2011... KUALA LUMPUR: Tycoon T. Ananda Krishnancontrolled Binariang GSM Sdn Bhd is set to decouple Indian telco unit Aircel Cellular Ltd from the group under a restructuring exercise, according to a local rating agency. RAM Ratings Services Bhd (RAM)...

Kewalram keen to expand footprint.
December 27, 2011... Byline: Rupa Damodaran KUALA LUMPUR: Kewalram Chanrai Group wants to increase its footprint in Malaysia, especially in the palm oil sector. Its subsidiary EcoOils is setting up a plant to recover palm oil from spent bleaching earth, a palm...

It'll stay bumpy for auto industry.
December 27, 2011... KUALA LUMPUR: Malaysia and the region's automotive sector, which has been soft this year, is set to continue sliding next year due to the effects of the natural disasters in Japan and Thailand as well as the still uncertain global economic...

Chin Well to sustain strong export revenue.
December 27, 2011... KUALA LUMPUR: Chin Well Holdings Bhd expects to sustain overseas revenue contribution and focus on expanding its market share in Europe as well as emerging markets in Asia and North America. Its managing director Tsai Yung Chuan said while...

Yinson's nine-month net profit rises to RM20.7m.(Financial report)
December 27, 2011... KUALA LUMPUR: Malaysia's integrated offshore services provider Yinson Holdings Bhd registered a net profit of RM20.7 million for the first nine months ended October 31 2011. This translates into an earnings per share of 28.58 sen, which was...

Spend they will on leisure and simple pleasures.
December 27, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: While 2012, as a whole, is not looking as rosy as 2011 for retailers, consumers are expected to continue spending on leisure and simple pleasures. And the rich were likely to continue shopping for...

Retail sales expected to grow 6pc next year.
December 27, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: Retail sales growth is expected to expand by six per cent in 2012, the slowest growth in three years. The six per cent increase will ring in sales to the tune of RM86.9 billion. The expansion this...

Malaysians blaze trail in China's oleochem sector.
December 27, 2011... Byline: Ooi Tee Ching GOLDEN HARVEST: Malaysians who have been investing in China's oleochemicals industry are benefiting from its 1.3 billion pursuit of better living standards, writes OOI TEE CHING. KUALA LUMPUR: Malaysian investors in...

Logwin's red carpet logistics go regional.
December 27, 2011... KUALA LUMPUR: Logwin AG is launching red carpet logistics Asia-wide following the successful rollout of its premium fashion logistics product in Malaysia. The next phase of red carpet logistics expansion in Asia will see its service offering...

ICT sector expected to spend RM31.5b next year.
December 27, 2011... KUALA LUMPUR: Malaysia'a information, communications and telecommunications (ICT) sector is expected to spend RM31.5 billion in 2012. This will be a 6.1 per cent expansion over 2011, riding on the region's recovery from natural disasters and...

BV to light up energy sector.
December 27, 2011... Byline: Goh Thean Eu KUALA LUMPUR: Black & Veatch Corp (BV), an engineering firm that specialises in designing power and water plants, aims to secure more power jobs in Malaysia in the near- to medium-term. The country is expected to...

IGH hotels sweep HAPA awards.
December 27, 2011... KUALA LUMPUR: InterContinental Hotels Group (IHG) swept all 22 awards in 16 categories at the Hospitality Asia Platinum Awards (HAPA) 2011-2013 Regional Series last month. The IHG winners included representatives from InterContinental,...

Bank on a follow-through rebound by BIMB.
December 27, 2011... Byline: S.N. Lock SHARE prices on Bursa Malaysia rebounded on four out of the five trading days last week, fuelled by the strong technical rebounds on major foreign stock markets. The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM...

FBM KLCI could test 1,519 points.
December 27, 2011... Byline: Kaladher Govindan SHARE prices on Bursa Malaysia extended gains last week after China pledged support for exporters and small businesses and on better-than-expected US and German economic indicators, offsetting concerns over the...

Khazanah buys Turkish group for RM5.32b.
December 24, 2011... KUALA LUMPUR: Khazanah Nasional Bhd has struck a deal to buy a 75 per cent stake in Turkey's Acibadem group in a deal that values the country's largest private hospital chain at RM5.32 billion. Khazanahs 70 per cent-owned subsidiary...

E&O shares jump most in a week.
December 24, 2011... KUALA LUMPUR: Eastern & Oriental Bhd (E&O) shares rose the most in a week while Sime Darby Bhd's fell marginally after a related legal suit was brought against the Securities Commission (SC). An E&O minority shareholder is suing...

Johor Corp and 'Superman'.
December 24, 2011... Byline: Zuraimi Abdullah DC Comics' "Superman" is a good guy, a great American superhero. In Hong Kong, "Superman" is Li Ka-shing, the mega-rich businessman. In Malaysia, though, "Superman" is a bad guy, at least that's what former Johor...

AEON, Parkson rightly command higher valuations.
December 24, 2011... KUALA LUMPUR: AEON Co (M) Bhd and Parkson Retail Asia (PRA)'s solid price to earnings (PE) ratio shows that good consumer companies in the region rightly command higher valuations. In its report, OSK Research Sdn Bhd has tagged AEON, which...

JF Apex sees 2.5-2.75pc inflation.
December 24, 2011... KUALA LUMPUR: The consumer price index (CPI) is expected to moderate to between 2.5 and 2.75 per cent next year, according to JF Apex Securities Bhd. The brokerage maintains its forecast overnight policy rate (OPR) of around 2.50 per cent to...

Bold plan to propel country into forefront of global banking.
December 24, 2011... KUALA LUMPUR: OCBC Bank (Malaysia) Bhd believes that the Financial Sector Blueprint is able to take Malaysia to the forefront of global banking in the next decade. Describing the blueprint as an innovative, bold and ambitious roadmap, OCBC...

Malaysia ready to meet challenges.
December 24, 2011... Byline: Osman Morad IT has been an extraordinary year, 2011. We have seen the continued reshaping of the financial services industry, significant recapitalisation across the sector heightened financial market volatilities and a global trend...