Business Times (Malaysia) articles from January 2006

Business Times (Malaysia) archives from January 2006

Bank Negara issues 4 new takaful licences.
January 31, 2006... (From Business Times (Malaysia)) BANK Negara Malaysia yesterday issued four new takaful licences to consortiums and joint ventures, bringing the number of takaful operators in the country to nine. They are HSBC Insurance...

Amanah Raya to tap capital markets.
January 31, 2006... (From Business Times (Malaysia)) Byline: FAUZIAH ISMAIL ; OOI TEE CHING AFTER serving as public trustee for 85 years, cash-rich Amanah Raya Bhd (ARB) now wants to venture into the domestic and international capital markets in an...

UK companies keen to support Malaysia's subsea sector.
January 31, 2006... (From Business Times (Malaysia)) Byline: KAMARUL YUNUS BRITISH and foreign oil and gas-related companies based in the UK are offering technical know-how and consultancy services in the subsea industry to Malaysia, given recent...

'Real estate investments to outperform bonds, equities'.
January 31, 2006... (From Business Times (Malaysia)) REAL estate investment trusts (REITs), which provides tremendous stability, will outperform other bonds and equities in the Malaysian market, YTL Bhd managing director Tan Sri Francis Yeoh said. Yeoh...

Amanah Raya expects to launch REIT in May.
January 31, 2006... (From Business Times (Malaysia)) Byline: FAUZIAH ISMAIL ; OOI TEE CHING AMANAH Raya Bhd (ARB), which has been buying up properties over the past few months, has confirmed talks that it is building a portfolio for real estate...

SBB yet to receive formal offer from CIMB.
January 31, 2006... (From Business Times (Malaysia)) THE Board of Southern Bank Bhd said it has yet to receive a formal offer from CIMB Bhd regarding a merger. "The board views its governance responsibilities seriously and will make its decision...

Fima set to pay dividends again.
January 31, 2006... (From Business Times (Malaysia)) Byline: ZAIDI ISHAM ISMAIL KUMPULAN Fima Bhd, which declared dividends only once in the past eight years, expects to start delivering rewards to shareholders once again in the coming years and be...

Bullish mode continues.
January 31, 2006... (From Business Times (Malaysia)) Byline: W.Q. MUN Long-term: Bullish Short-term: Bullish, but vulnerable to a sharp technical pullback if this market does not overcome overhead resistance at between RM1,440 - RM1,446 soon. Momentum...

Headwinds likely to stall spot market.
January 31, 2006... (From Business Times (Malaysia)) Byline: BERNARD THE February contract on the Bursa Malaysia Derivatives closed higher at 921.0 last Friday on an average of 5,926 contracts transacted with an open interest of 17,200 contracts....

Karambunai shares see active trade.
January 28, 2006... (From Business Times (Malaysia)) SHARES of resort-operator Karambunai Corp Bhd were at its most active in about eight months yesterday, moving up half a sen, or 16.7 per cent, to 3.5 sen. Some 31 million shares were traded, which was...

Proton, VW to cooperate on specific projects.
January 28, 2006... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI PROTON Holdings Bhd confirmed that a tie-up with Volkswagen AG, which includes the German carmaker taking a stake in the national car firm, is off. Instead, they would...

Big role for SME Bank.
January 28, 2006... (From Business Times (Malaysia)) Byline: CHONG POOI KOON THE SME Bank launched yesterday has a big role to play in improving economic contributions from the small- and medium-sized enterprises (SMEs) sector. SMEs contribute 6...

SC inspects bond sales closely.
January 28, 2006... (From Business Times (Malaysia)) THE Securities Commission (SC) is sifting through bond sale applications more carefully now following the recent defaults that rocked the private debt securities market. Industry executives said...

Malaysia proposes steps to strengthen Muslim economies.
January 28, 2006... (From Business Times (Malaysia)) MALAYSIA has proposed four measures to foster economic development and strengthen the Muslim ummah. These measures are to increase trade among Muslim nations, develop Islamic finance as a competitive...

Kulim to divest palm oil interest in Sumatra.
January 28, 2006... (From Business Times (Malaysia)) PLANTATION-BASED Kulim Malaysia Bhd is divesting its palm oil plantation in Sumatra to focus on its larger operations in central Kalimantan. Kulim and several of its subsidiaries yesterday entered into a...

CIMB, SBB still negotiating: Nazir.
January 28, 2006... (From Business Times (Malaysia)) TALKS for a merger between the CIMB Group and Southern Bank Bhd (SBB) are still ongoing and have yet to be concluded, said CIMB chief Datuk Nazir Razak, amid reports that it was set to make an offer...

Maxis bid fails to excite analysts.
January 28, 2006... (From Business Times (Malaysia)) REPORTS that Maxis Communications Bhd is interested to buy a stake in Indian-based Spice Telecom failed to excite analysts yesterday. Stock broker Avenue Securities Sdn Bhd is maintaining its 12-month...

KPJ to sell property stakes to REIT.
January 28, 2006... (From Business Times (Malaysia)) KPJ Healthcare Bhd is selling its entire interest in its properties to a real estate investment trust that will be established, KPJ Healthcare REIT, for RM343.25 million. The properties are Ampang...

Telekom to sell stake in Malawi venture.
January 28, 2006... (From Business Times (Malaysia)) TELEKOM Malaysia Bhd is selling its 60 per cent stake in Telekom Networks Malawi (TNM) to Econet Wireless Global (Econet) for US$24.5 million (US$1 = RM3.75). Telekom is the majority shareholder in TNM....

Shell expected to record flat refining margins.
January 28, 2006... (From Business Times (Malaysia)) Byline: ZURAIMI ABDULLAH SHELL Refining Company (Federation of Malaya) Bhd's refining margins are expected to remain flat in the next two years, causing pre-tax profits to fall slightly, according to...

Mitrajaya unit bags roadworks contract.
January 28, 2006... (From Business Times (Malaysia)) MITRAJAYA Holdings Bhd said its unit has won a RM14.55 million roadworks contract from Perbadanan Kemajuan Negeri Kedah. The contract involves the construction and completion of roadworks, detention...

ICC Malaysia bidding to host world meet.
January 28, 2006... (From Business Times (Malaysia)) Byline: KAMARUL YUNUS THE International Chamber of Commerce (ICC) Malaysia is bidding to host the biennial ICC World Chambers Congress for 2009, with expected turnout of some 1,500 delegates,...

Yayasan Sabah Shipping ties up with Gagasan to buy tankers.
January 28, 2006... (From Business Times (Malaysia)) Byline: JONISTON BANGKUAI YAYASAN Sabah Shipping (YSS) and Gagasan Carriers Sdn Bhd (GCSB) have formed a joint-venture company, under which it will acquire two new chemical tankers costing RM148...

Aktif Lifestyleappeals to SC.
January 28, 2006... (From Business Times (Malaysia)) AKTIF Lifestyle Corp Bhd yesterday formally appealed to the Securities Commission (SC) on the rejection of its proposed restructuring scheme. Under the proposed restructuring, the retailer will be...

PMB gross distribution.
January 28, 2006... (From Business Times (Malaysia)) PUBLIC Mutual Bhd (PMB) has declared a gross distribution of 5 sen a unit to unitholders of the Public Index Fund. The closing price of the fund's net asset value on January 25 was 79.68 sen a unit....

SC nod for 64 proposals in Q4.
January 28, 2006... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI THE Securities Commission (SC) approved 64 corporate proposals in the fourth quarter of last year, bringing the total number of corporate proposals approved for 2005 to 334....

Citigroup upgrades BAT shares to a 'buy'.
January 28, 2006... (From Business Times (Malaysia)) CITIGROUP has raised its investment recommendation on shares of British American Tobacco Malaysia Bhd (BAT), citing stable market conditions as cigarette makers stop cutting prices. BAT, the industry...

'Can I really retire from my business?'.
January 28, 2006... (From Business Times (Malaysia)) Byline: CHUA TIA GUAN THE final article on BUSINESS SUCCESSION reminds business owners that it is never too late to plan for their retirement/exit plan from their business. A new year beckons. As...

DiGi signs pact with Siemens on 3G network plan.
January 28, 2006... (From Business Times (Malaysia)) DIGI.COM Bhd has signed a letter of intent (LOI) with Siemens Malaysia Sdn Bhd for the implementation of its 3G network system, should it be awarded the service spectrum by the Malaysian Communication and...

MOLAccess, Gamania sign distribution pact.
January 28, 2006... (From Business Times (Malaysia)) MOLAccess Portal Bhd, a leading local Internet and e-Commerce company, has signed a distribution agreement with Gamania Digital Entertainment (HK) Co Ltd, one of the largest online game operators in Hong...

TA Sec reverses Intan stock to a 'sell'.
January 28, 2006... (From Business Times (Malaysia)) TA Securities has changed its recommendation on Intan Utilities Bhd to a "sell" from a "buy", after the company cancelled plans to buy a substantial stake in lottery firm Berjaya Sports Toto Bhd (BToto)....

Ranhill Tuaran secures power station project.
January 28, 2006... (From Business Times (Malaysia)) RANHILL Power Bhd's wholly-owned subsidiary, Ranhill Tuaran Sdn Bhd, has been awarded a 190MW (megawatt) gas-fired power station project in Kota Kinabalu, Sabah, by the Economic Planning Unit of the Prime...

BCB to invest on more e-banking centres.
January 28, 2006... (From Business Times (Malaysia)) Byline: HAMISAH HAMID BUMIPUTRA-Commerce Bank Bhd (BCB) will invest between RM5 million and RM6 million to equip the remaining 127 branches with electronic banking centres (EBCs) by the end of this...

KLCI likely to trend higher next Friday.
January 28, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia staged their technical pullbacks on Monday before resuming their technical rebounds for the remaining four trading days during the week. On...

Focus Dynamics oversubscribed.
January 28, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid FOCUS Dynamics Technologies Bhd's public issue of two million shares has been oversubscribed by 59.4 times. Focus Dynamics, a provider of energy efficiency products and...

Brand's moves with changing trends.
January 28, 2006... (From Business Times (Malaysia)) Byline: PRESENNA NAMBIAR BRAND'S, which sells Brand's Essence of Chicken, believes that a direct relationship with its consumers is imperative to the growth of its brand name. One of its main...

On awards and how to spot dubious ones.
January 28, 2006... (From Business Times (Malaysia)) Byline: L.S. SYA THE story is often told of how a local puttumayam flour manufacturer received a special invitation from an award organisation from Spain to receive a "Distinguished Manufacturer"...

Vsource wins Global Services award.
January 28, 2006... (From Business Times (Malaysia)) BUSINESS process outsourcing (BPO) provider Vsource Asia Sdn Bhd has been chosen to be in the 2006 Global Services Top 100 performing BPO providers by Global Services Magazine publication. This is the...

Mercedes-Benz retains top position again.
January 28, 2006... (From Business Times (Malaysia)) THE recent release of the Malaysian Automotive Association (MAA)'s statistics for sales in 2005 sees the Mercedes-Benz marque maintaining its number one position in the country's automotive industry for...

Omar to lead Ethos.
January 27, 2006... (From Business Times (Malaysia)) ETHOS Consulting has appointed Omar Mustapha, former special assistant to Deputy Prime Minister Datuk Seri Najib Tun Razak, as its new managing principal and director effective February 1 2006. Ethos...

Damansara Realty in Johor project.
January 27, 2006... (From Business Times (Malaysia)) DAMANSARA Realty Bhd has entered into a tri-partite development agreement with Johor Corp, Sri Gading Land Sdn Bhd and Syarikat Perumahan Negara Bhd for a proposed mixed development project in Johor. ...

Proton shares slide despite MD's assurance.
January 27, 2006... (From Business Times (Malaysia)) PROTON Holdings Bhd's share price slid yesterday despite its top official's assurance that the troubled car company would turn around within a year. The stock dropped 15 sen or by 2.8 per cent to...

Naza plans listing in Q3 (HL).
January 27, 2006... (From Business Times (Malaysia)) Byline: RUPINDER SINGH THE Naza Group is hiring CIMB Group and ECM Libra Bhd to arrange its initial public offering (IPO), slated to be one of the biggest this year. Group managing director Tan...

Air travellers will have to fork out more.
January 27, 2006... (From Business Times (Malaysia)) Byline: VASANTHA GANESAN TICKETING agents will introduce an agency collection fee of RM30 for international flights and RM10 for domestic flights effective February 1, to lessen their financial burden...

Dubai firm may buy 49pc stake in Bank Islam.
January 27, 2006... (From Business Times (Malaysia)) DUBAI Investment Group LLC (DIG) may buy a 49 per cent stake in Bank Islam Malaysia Bhd, the country's oldest Islamic bank. Bank Negara Malaysia has given the nod that allows Dubai Financial, a unit...

Doha Agenda to be raised at Davos forum.
January 27, 2006... (From Business Times (Malaysia)) Byline: KAMARUL YUNUS TRADE ministers including Minister of International Trade and Industry Datuk Seri Rafidah Aziz will discuss pending issues and the way forward for the World Trade Organisation...

Scomi Eng expects surge in oil drilling.
January 27, 2006... (From Business Times (Malaysia)) Byline: CHONG POOI KOON SCOMI Engineering Bhd, which took over Bell & Order Bhd's listing status, expects a surge in oil drilling activities in the region, and more ultra deepwater drilling in...

Musa appointed UM Land chairman.
January 27, 2006... (From Business Times (Malaysia)) Byline: CHONG JIN HUN TAN Sri Musa Hitam has been appointed chairman and independent non-executive director of United Malayan Land Bhd (UM Land). The former deputy prime minister takes over from...

Govt yet to decide on LCC terminal airport tax.
January 27, 2006... (From Business Times (Malaysia)) Byline: KANG SIEW LI AIRASIA Bhd's request to lower airport taxes on passengers departing from the soon-to-be-completed low-cost carrier (LCC) terminal in Sepang has to be weighed carefully as any...

Investors continue 'fowl play'.
January 27, 2006... (From Business Times (Malaysia)) INVESTORS continued to have a strong appetite for poultry stocks yesterday, on hopes that a possible rise in the prices of chicken and eggs may boost company earnings. Four of the six most...

SBB jumps on report merger talks near end.
January 27, 2006... (From Business Times (Malaysia)) Byline: ADELINE PAUL RAJ SOUTHERN Bank Bhd (SBB)'s stock had its biggest one-day gain in about a month yesterday following a press report that the CIMB Group was close to wrapping up talks to acquire...

S&P expects Tenaga to do well.
January 27, 2006... (From Business Times (Malaysia)) TENAGA Nasional Bhd may post a 38 per cent rise in net profit this year, helped by better sales and foreign exchange gains, said Standard & Poor's (S&P). However, its results may be better if a...

Three tipped to get takaful licence.
January 27, 2006... (From Business Times (Malaysia)) MALAYSIAN Assurance Alliance Bhd (MAA Assurance), HSBC Bank Malaysia, and AmAssurance Bhd are three of the four likely candidates to be offered takaful licences by the central bank, people familiar with...

Jadi Imaging optimistic.
January 27, 2006... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR JADI Imaging Holdings Bhd expects its net profit to increase by about a fifth in 2006, helped by the expansion of its production lines and entry into new markets. The...

New Shell Malaysia chairman to head business council.
January 27, 2006... (From Business Times (Malaysia)) NEWLY appointed Shell Malaysia Bhd chairman Saw Choo Boon will head the company's business council effective March 1. He will be the third Malaysian to hold such position since the establishment of the...

BToto surges on capital return news.
January 27, 2006... (From Business Times (Malaysia)) INVESTORS cheered Berjaya Sports Toto Bhd (BToto)'s plan to return up to RM651.8 million in capital to shareholders, its share price rising sharply yesterday. It put on 12 sen to close at RM4.64, off...

Emerald eyes foreign investors.
January 27, 2006... (From Business Times (Malaysia)) Byline: MARINA EMMANUEL PENANG-BASED Emerald Capital Group, which has already sold 70 per cent of office and retail units at its Suntech @ Penang Cybercity project, is now looking abroad to market its...

USF-HICOM rolls out diesel version of Mahindra Scorpio.
January 27, 2006... (From Business Times (Malaysia)) Byline: ZURAIMI ABDULLAH USF-HICOM (Malaysia) Sdn Bhd expects to sell 2,000 units of Mahindra Scorpio this year, including up to 100 units a month of the diesel version of the sports utility vehicle...

Dell to expand ops in Penang.
January 27, 2006... (From Business Times (Malaysia)) Byline: MARINA EMMANUEL COMPUTER maker Dell Inc is expanding its operations in Penang to meet the growing demand for notebook computers. Dell chief executive officer Kevin B. Rollins yesterday...

OCBC gets up close and personal with customers.
January 27, 2006... (From Business Times (Malaysia)) OCBC Bank (Malaysia) Bhd plans to grow the small- and medium-sized enterprise (SME) market further by getting up close and personal with its customers through the newly-launched Project Latitudes. The...

DXN unit ventures into biodiesel sector.
January 27, 2006... (From Business Times (Malaysia)) DXN Holdings Bhd has announced that its wholly-owned subsidiary, Future Nutri Sdn Bhd, is setting up a 50:50 joint-venture company with Green Diesel Corp from the US to venture into the biodiesel business....

German firm obtains court order.
January 27, 2006... (From Business Times (Malaysia)) A SUB-CONTRACTOR of the RM2 billion flood mitigation tunnel in Kuala Lumpur, German firm Wayss & Freytag (W&F), has secured an interim court order against Gamuda Bhd and MMC Engineering Bhd (MMCEG) to...

Intan Utilities tumbles.
January 27, 2006... (From Business Times (Malaysia)) INTAN Utilities Bhd's stock fell sharply yesterday after it announced plans to sell all its non-core businesses and focus on being a mass consumer products retailer. Intan, the operator of 7-Eleven...

Orix: Bonds to fund expansion.
January 27, 2006... (From Business Times (Malaysia)) ORIX Leasing Malaysia Bhd, a leading player in the Malaysian leasing industry, has issued a RM150 million bond and proceeds will be used to fund its business expansion in Malaysia. Orix, which is 80...

Pharmaniaga wins Euromoney award.
January 27, 2006... (From Business Times (Malaysia)) PHARMANIAGA Bhd has been named Asia's Best Managed Pharmaceutical company in Euromoney's 10th Asian company ranking. The ranking was based on a survey of market analysts at leading banks and research...

Flying the Le Meridien flag.
January 27, 2006... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR STARWOOD Hotels and Resorts Worldwide Inc plans to open over 10 hotels this year as a move to further expand and enhance the Le Meridien brand in the global market. The...

Felda plant for Selangor Halal Hub.
January 27, 2006... (From Business Times (Malaysia)) Byline: ZURINNA RAJA ADAM THE Selangor State Government's investment arm, Kumpulan Darul Ehsan Bhd, via its wholly-owned subsidiary, Central Spectrum Sdn Bhd, yesterday signed an agreement with the...

Generous payout from BToto (HL).
January 26, 2006... (From Business Times (Malaysia)) CHINESE New Year has come early for shareholders of gaming company Berjaya Sports Toto Bhd (BToto). BToto plans to return up to RM651.8 million in capital to shareholders because it has no pressing...

BLand changes inter-company loan payment plan again.
January 26, 2006... (From Business Times (Malaysia)) Byline: SHAHRIMAN JOHARI BERJAYA Land Bhd (BLand) has for the second time changed its plans as to how it will settle a large long-standing loan that it owes its lottery unit. BLand, controlled by...

Utility to sell land for RM400m.
January 26, 2006... (From Business Times (Malaysia)) TENAGA Nasional Bhd is selling four parcels of land originally earmarked for staff living quarters in the Klang Valley for a combined sum of RM400 million. The sale could help Tenaga cut its debt,...

SC issues guidelines on formation of bond pricing agencies.
January 26, 2006... (From Business Times (Malaysia)) THE Securities Commission (SC) yesterday introduced a new set of guidelines to facilitate the introduction of bond pricing agencies (BPA). This came about after Second Finance Minister Tan Sri Nor...

Tenaga Q1 net profit up 70-fold.
January 26, 2006... (From Business Times (Malaysia)) Byline: ZAIDI ISHAM ISMAIL TENAGA Nasional Bhd reported a 70-fold increase in its first-quarter net profit on foreign exchange gains and better electricity sales. Tenaga president and chief...

Celcom closing gap with Maxis.
January 26, 2006... (From Business Times (Malaysia)) CELCOM (Malaysia) Bhd, the mobile arm of Telekom Malaysia Bhd, is closing in on Maxis Communications Bhd, as far as subscriber base is concerned. Telekom group chief executive officer Datuk Abdul...

Profitable ring to Vodafone deal: Telekom.
January 26, 2006... (From Business Times (Malaysia)) Byline: GOH THEAN EU TELEKOM Malaysia Bhd, the nation's biggest telephone company, expects positive earnings contribution from its collaboration with Vodafone Group plc, as revenue increases due to...

Litrak to spend RM35m on improving highway.
January 26, 2006... (From Business Times (Malaysia)) Byline: ADELINE PAUL RAJ HIGHWAY concessionaire Lingkaran Trans Kota Holdings Bhd (Litrak) will spend some RM35 million this year to improve its 40km Lebuhraya Damansara-Puchong (LDP). This is...

Nod for E&O cash call.
January 26, 2006... (From Business Times (Malaysia)) SHAREHOLDERS of Eastern & Oriental Bhd (E&O) have approved the company's cash call exercise to raise up to RM327.2 million to help pare debt. "This is yet another important milestone for the E&O...

NR prices closing in on record RM7 a kg.
January 26, 2006... (From Business Times (Malaysia)) Byline: ZAIDI ISHAM ISMAIL MALAYSIA'S natural rubber (NR) price is eyeing an all-time high of RM7 a kg in the near term due to a shortage in global supply caused by continuous rain. National...

Chua appointed to Killinghall board.
January 26, 2006... (From Business Times (Malaysia)) Byline: ADELINE PAUL RAJ DATUK Chua Ma Yu, who recently emerged as a substantial shareholder in Killinghall Bhd, was yesterday appointed as a non-independent and non-executive director. ...

Scomi Marine plans to sell jewellery ops to Habib family.
January 26, 2006... (From Business Times (Malaysia)) SCOMI Marine Bhd, a marine vessels operator, has proposed to sell its jewellery operations to the founder of the business, the Habib family, for some RM90 million. The sale will help Scomi Marine cut...

KUB gets nod for disposal.
January 26, 2006... (From Business Times (Malaysia)) KUB Malaysia Bhd received shareholders' approval yesterday to dispose of its 32 per cent stake in Computer Forms (Malaysia) Bhd (CFM) to Perfect Pioneer Sdn Bhd and for a RM1 million ex-gratia payment to...

Queensbay Mall ready by year-end.
January 26, 2006... (From Business Times (Malaysia)) Byline: CHONG POOI KOON CP LANDMARK Sdn Bhd, part of the privately-held CP Group which is reviving the Bayan Bay project in Penang, expects to complete the largest mall on the island state by...

Scomi Engineering relisting.
January 26, 2006... (From Business Times (Malaysia)) SCOMI Group Bhd's subsidiary, Scomi Engineering Bhd, received a green light from Bursa Malaysia Bhd to have its shares relisted on the second board of the exchange. Bursa Malaysia also approved the...

Omnicom scouting for more talent.
January 26, 2006... (From Business Times (Malaysia)) ADVERTISING firm Omnicom Group Inc is looking at hiring more key talent or acquiring local companies to stay ahead of its competitors. Vice-chairman and chief executive officer (CEO) Asia Pacific...

Permintex invests in mould venture.
January 26, 2006... (From Business Times (Malaysia)) Byline: ROZIANA HAMSAWI PERMINTEX Holdings Sdn Bhd will inject RM35 million in the next three years in a joint-venture company that will specifically design, develop and manufacture large-sized moulds...