Business Times (Malaysia) articles from June 2006, page 4

Business Times (Malaysia) archives from June 2006

Book-building completed.
June 16, 2006... (From Business Times (Malaysia)) CAGAMAS Bhd, the national mortgage corporation, successfully closed the book-building exercise for its debt securities on June 13. The issuance comprises one-year discount notes of RM330 million,...

Correction of oversold position.
June 16, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia continued to retrace lower despite the technical recovery on the regional stock markets as declininers out-numbered advancers by 352 to 291. The Kuala...

M3nergy: Profits to improve.
June 16, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar M3NERGY Bhd expects its profits to improve this year, driven by the disposal of a subsidiary's operations and a healthy oil and gas business. For the fiscal year ended...

Engaging your employees.
June 16, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid RECENT study findings reveal some traits to look for in predicting job hunters' likelihood to be engaged contributors, HAMISAH HAMID writes. The success of any organisation...

Time to accumulate quality stocks, says PNB.
June 16, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh PERMODALAN Nasional Bhd (PNB) sees opportunities in the bearish equities market for it to accumulate quality stocks. The state-owned investment giant is one of the largest...

Sedco buys stake in Green Packet.
June 16, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu SYARIAH-compliant institutional investor Saudi Economic and Development Company (Sedco) is buying a 10 per cent stake in telecommunications-related services and solutions company...

Celcom: Nationwide 3G service by July 15.
June 16, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar MOBILE operator Celcom (Malaysia) Bhd will expand its third-generation (3G) services coverage nationwide by July 15, chief executive officer Datuk Shazalli Ramly said. ...

Hong Leong eyes loan growth of up to 15pc.
June 16, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam HONG Leong Bank Bhd, the sixth largest credit card issuer in Malaysia in terms of cards circulation, is looking at a loan growth of up to 15 per cent this year. Despite...

'Asia can stand on its own'.
June 16, 2006... (From Business Times (Malaysia)) Byline: Ravi Nambiar TOKYO: The rise of China and India, coupled with the economic power houses of Japan and South Korea, is enough reason to promote intra-Asian trade and business. Petronas...

Spain's Roca Corp buys Johnson Suisse.
June 16, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus ROCA Corp Empresarial S.A, a Spanish sanitary ware manufacturer, has acquired a local firm Johnson Suisse Sdn Bhd for RM100 million and pledged to invest more than RM100 million...

HeiTech Padu gears up for more aggressive role in IT outsourcing.
June 16, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario HEITECH Padu Bhd is gearing itself for a more aggressive role in the information technology (IT) outsourcing business in Malaysia, executive chairman Datuk Mohd Hilmey Mohd...

Quality management system certification for MRCB units.
June 16, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail SEMASA Services Sdn Bhd and Semasa Sentral Sdn Bhd, both wholly-owned subsidiaries of Malaysian Resources Corp Bhd (MRCB), have been accredited with the Quality Management...

TMC Life sees higher foreign contribution.
June 16, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun FOREIGN patients should contribute about a fifth of fertility treatment provider TMC Life Sciences Bhd's revenue in 2006, in line with the company's marketing efforts abroad. ...

Wellcall business unhurt by rising rubber prices.
June 15, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching INDUSTRIAL rubber hose maker Wellcall Holdings Bhd, en route to a listing on the second board of Bursa Malaysia, said rising rubber prices have had little impact on its business...

Development spending will boost growth: UBS.
June 15, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran MALAYSIA can meet its economic growth target of 6 per cent this year if aggressive spending on development under the Ninth Malaysia Plan (9MP) boosts domestic demand, UBS...

EPF contributions: Defaulting employers fined.
June 15, 2006... (From Business Times (Malaysia)) TWO hundred and sixty one employers were fined a total of RM292,200 from January to March 2006 for defaulting on their employees' contributions to the Employees Provident Fund (EPF). Murni Maintenance...

Bank Islam in final talks with foreign partner.
June 15, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam BANK Islam Malaysia Bhd said its foreign partner will be known within the next four months. The bank, a unit of BIMB Holdings Bhd, is expected to conclude partnership...

Bursa slips below 900 points.
June 15, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez MALAYSIAN stocks sank deeper into negative territory yesterday as the benchmark Kuala Lumpur Composite Index (KLCI) slipped to below the 900-point level. The all blue...

A380 delivery delay won't affect MAS turnaround plan.
June 15, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail; Anna Maria Samsudin NEW delays in the delivery of the Airbus A380 superjumbo are unlikely to affect Malaysia Airlines' (MAS) plans to turn itself around. The national...

Guthrie sees highway sale by year-end.
June 15, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar KUMPULAN Guthrie Bhd expects to conclude a deal for the disposal of its Guthrie Corridor Expressway (GCE) to a party before the end of this year, said group chief executive...

Riana Green project off to good start.
June 15, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching THE RM388 million Riana Green east.KL project, a joint venture between IJM Properties Sdn Bhd and Landmarks Land and Properties Sdn Bhd, is getting off on a good start. The...

Melewar Steel-Rokeby mill venture.
June 15, 2006... (From Business Times (Malaysia)) MELEWAR Steel Ventures Ltd, a subsidiary of Melewar Industrial Group Bhd (MIG), and Rokeby Nominees Pty Ltd have teamed up to promote and develop MycroSmelt mills in Australia. The two companies...

IGB bucks weak market trend.
June 15, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock CONTINUING follow-through selling pressure on Bursa Malaysia sent the Kuala Lumpur Composite Index (KLCI) breaching its psychological support of 900. Bursa Malaysia continued to stay...

Element of transparency in Nacra awards.
June 15, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu THE search for the most outstanding annual reports of the year will include an added element of transparency - companies can find out why their annual reports didn't make the cut....

Malaysia's giftware industry expands to RM22b.
June 15, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar MALAYSIA'S giftware industry grew by 1.2 per cent last year to RM21.99 billion, compared to imports which declined almost 5.76 per cent to RM10.96 billion. The US is the...

WCT Land aims to raise recurring income from rentals.
June 15, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh PROPERTY developer WCT Land Bhd hopes to increase its recurring income in the form of land and real estate rentals in the future to ensure long-term earnings stability. ...

Firm in talks to buy used Boeing MD-11s.
June 14, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li TRANSMILE Group Bhd said it is in talks with several aircraft owners to buy used Boeing MD-11s as part of its fleet and route expansion programme. "We are in talks with a...

Pos Malaysia in no hurry to sell Transmile stake.
June 14, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li; Rupa Damodaran POS Malaysia & Services Holdings Bhd is keeping its options open on whether or not to sell its stake in air cargo company Transmile Group Bhd, but is "in no...

Genting encounters heavy selling liquidations.
June 14, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARP technical pullbacks on New York and regional stock markets impacted the performance of the local bourse. Its overall declining counters overwhelmed its advancing counters by...

Mayban Unit Trust reports 4.8pc yield for Islamic bond.
June 14, 2006... (From Business Times (Malaysia)) MAYBAN Unit Trust Bhd (MUTB), a member of Maybank Group, announced a 4.8 per cent yield or an annual gross income distribution of 2.5 sen per unit for its Islamic Bond Fund, Mayban Dana Arif (MDA). ...

EON Capital: No merger talks.
June 14, 2006... (From Business Times (Malaysia)) EON Capital Bhd (ECB) said it will consider any opportunities that can enhance shareholder value, including strategic alliances, mergers and acquisitions. The company, which is speculated to be...

Murphy in talks to sell gas to Petronas.
June 14, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus THE US-based oil firm Murphy Oil Corp said it is in negotiations with Petroliam Nasional Bhd (Petronas), the state oil company, for the sale of gas from its fields offshore...

Bharat looking at opportunities in S-East Asia.
June 14, 2006... (From Business Times (Malaysia)) BHARAT Petroleum Corp, India's third biggest state-run refiner, may invest in oil and gas blocks in South-East Asia as it expands its production assets, chairman Ashok Sinha said yesterday. Bharat may...

TA expects funds to rise to RM1b.
June 14, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah TA INVESTMENT Management Bhd is confident that funds under its management will swell to RM1 billion, buoyed by a newly-launched product and another two more launches by the...

Petronas to explore at least 10 deepwater sites.
June 14, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus NATIONAL oil company Petroliam Nasional Bhd (Petronas) and its production partners expect to drill at least 10 exploration wells in deepwater prospects offshore Sabah and Sarawak...

Bursa, regional markets tumble.
June 14, 2006... (From Business Times (Malaysia)) BURSA Malaysia along with other Asian bourses went on another roller-coaster ride, tumbling sharply yesterday, amid further concerns that global monetary tightening policies may hurt economic growth. ...

Mahindra keen on assembling trucks with DRB.
June 14, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez DRB-HICOM Bhd, the country's largest integrated automotive company, has received a proposal from Mahindra & Mahindra Ltd, India's biggest sports utility vehicle (SUV) and...

Ministry: Hasten projects.
June 14, 2006... (From Business Times (Malaysia)) THE Finance Ministry has directed all agencies and departments under its purview to hasten the implementation of all projects involving the development of facilities and those under the private finance...

Mesiniaga expects 9MP projects to boost net profit.
June 14, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu MESINIAGA Bhd, which saw its net profit fall 33 per cent for first quarter 2006, expects full year 2006 to grow 15 per cent, as it secures projects under the Ninth Malaysia Plan...

Microlink Solutions share offer oversubscribed.
June 14, 2006... (From Business Times (Malaysia)) MESDAQ-BOUND Microlink Solutions Bhd's initial public offer (IPO) for the public portion has been oversubscribed by 19.15 times. According to a statement issued in Kuala Lumpur yesterday, a total of...

TM Net to promote broadband in schools.
June 14, 2006... (From Business Times (Malaysia)) Byline: Ridzwan Abdullah LOCAL Internet service provider TM Net Sdn Bhd hopes that its plans to increase broadband customer base by 400,000 this year will attract more students to subscribe to its...

Stanchart expects deposits to grow by 10pc this year.
June 14, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh STANDARD Chartered Bank Malaysia Bhd (Stanchart) expects its deposits to grow by 10 per cent this year, fuelled by increasing demand for better deposit products. Its...

AirAsia up on news to raise funds locally.
June 13, 2006... (From Business Times (Malaysia)) BUDGET airline operator AirAsia Bhd's shares rose 3 sen yesterday to RM1.53 on news that the company may tap the local market to raise funds to buy new aircraft. The news helped rejuvenate its share...

AZRB sees better results.
June 13, 2006... (From Business Times (Malaysia)) CONSTRUCTION company Ahmad Zaki Resources Bhd (AZRB) expects a slightly better performance this year, on strengths of its construction and oil and gas businesses. The group made RM18.9 million net...

Pos Malaysia targets revenue of RM876m.
June 13, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar POS Malaysia & Services Holdings Bhd (PSH) yesterday announced its headline key performance indicators (KPIs) for the financial year 2006. The company is targeting a...

PKFZ to be operational by year-end.
June 13, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon DUBAI: THE Port Klang Free Zone (PKFZ), a 405ha international cargo distribution and consolidation centre adjacent to Westports, will be fully-operational by year-end,...

Aker Kvaerner signs lease pact.
June 13, 2006... (From Business Times (Malaysia)) NORWEGIAN oil and gas engineering group Aker Kvaerner has signed a long-term lease agreement to take up 17.6ha at Port Klang Free Zone (PKFZ), making it the first to invest in Malaysia's first...

Depot charge fails to hold solution.
June 13, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li CONTAINER depot operators in Port Klang have reasons to feel frustrated. For years they have taken the brunt of complaints over their inefficiency and the poor condition of...

PM: Reinvest in renewable energy.
June 13, 2006... (From Business Times (Malaysia)) Byline: V.Vasudevan MAJOR oil corporations, most of whom have achieved record profits on the back of rocketing oil prices, have been told to reinvest in renewable energy. Prime Minister Datuk...

Decision on stake in Iranian project by Q3.
June 13, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus PETRONAS will decide by the third quarter of this year whether to maintain or reduce its 20 per cent stake in the liquefied natural gas (LNG) project in Iran. Its president...

PNB to use reserves for reinvestments.
June 13, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh NATIONAL investment fund, Permodalan Nasional Bhd (PNB), wants to achieve a balance between its income distribution and reserves to sustain long-term returns. PNB president...

Wijaya set to secure RM1b Selangor infrastructure job.
June 13, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah TIMBER and medical firm Wijaya Baru Global Bhd (WBG) is set to secure a RM1 billion infrastructure project in Selangor soon through its 45 per cent associate, Wijaya Baru Sdn...

Ensuring fair risk distribution.
June 13, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario THE Government is working on establishing a framework to ensure fair distribution of risks and rewards between the government and the private sector under privately financed...

Rohas-Euco eyes new export markets.
June 13, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar STEEL lattice structures for power transmission towers maker Rohas-Euco Industries Bhd (REI) is looking for new export markets as it seeks to increase export contribution to...

'No ACA investigation into SC or any of its officials'.
June 13, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez THE Securities Commission (SC), the country's capital market watchdog, says that it is not aware its officers are being investigated by the Anti Corruption Agency (ACA). ...

SAP and IBM team up for summIT2006.
June 13, 2006... (From Business Times (Malaysia)) THE partnership between SAP and IBM spans back 30 years and is one of the largest strategic partnerships, which together have provided clients with a full range of products and services, from planning and...

FSBM rebounds on cash holding news.
June 13, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia continued to lock within range-bound activities. The Kuala Lumpur Composite Index (KLCI) traded within 4.21 points range yesterday. The KLCI...

Utama Banking exploring RHB stake options.
June 13, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandes; Adeline Paul Raj THE Utama Banking Group Bhd (UBG) is acting alone in deciding what it would do with its stake in Rashid Hussain Bhd (RHB), the parent of Malaysia's fourth...

(Petronas said it will ... ).
June 13, 2006... (From Business Times (Malaysia)) PETRONAS said it will not change the price of gas supplied to Tenaga Nasional Bhd (TNB) and independent power producers (IPPs) despite TNB having been allowed to increase electricity tariffs. Petronas...

Kikeh, Gumusut fields to boost Petronas output.
June 13, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus PETROLIAM Nasional Bhd (Petronas) expects to raise an additional 270,000 barrels per day (bpd) of oil when production from its Kikeh and Gumusut-1 deepwater fields comes onstream...

Transmile falls on share sale talk.
June 13, 2006... (From Business Times (Malaysia)) SHARES of Transmile Group Bhd fell as much as 50 sen, or 4 per cent, in early trade yesterday on talk that its biggest shareholder, Pos Malaysia Bhd, may sell its 17.29 per cent stake in the air-cargo...

Guthrie Property set to achieve RM200m profit.
June 13, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar KUMPULAN Guthrie Bhd expects its wholly-owned unit, Guthrie Property Development Holdings Bhd to achieve a pre-tax profit of RM200 million this year, said group chief...

Deal to boost bilateral trade.
June 13, 2006... (From Business Times (Malaysia)) MALAYSIAN firms can explore opportunities to diversify the country's economy beyond electrical and electronics via the US-Malaysia Free Trade Agreement (USMFTA) to areas like biotechnology, financial...

IGB upbeat on Mid Valley earnings.
June 13, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran MID Valley City, with its Mid Valley Megamall and The Gardens retail centres, will contribute about 50 per cent to IGB Corp Bhd's group revenue by 2010, said managing director...

Samsung to up output of microwave ovens.
June 13, 2006... (From Business Times (Malaysia)) Byline: Neville Spykerman SAMSUNG Malaysia Electronics Sdn Bhd expects to increase output of microwave ovens by 30 per cent with the opening of a new RM62.05 million Magnetron Diode factory in Port...

Titoni names first Malaysian agent.
June 13, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching SWISS watchmaker Titoni Ltd is celebrating its 54th anniversary in the Malaysian market with the appointment of ATG Watch Sdn Bhd as its first local distributor for Malaysia and...

Maybank nets 30,000 new card members during campaign.
June 13, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid MALAYAN Banking Bhd (Maybank) had scored 30,000 new members for Maybankard MasterCard during the three-month Maybankard Credit Cup Fever campaign. This brings to 400,000,...

Downtrend likely to continue.
June 12, 2006... (From Business Times (Malaysia)) Byline: Ngu Chie Kieng GLOBAL stock markets around the world tumbled further last week on persistent concerns over the prospects of rising interest rates. Most of the exchanges suffered four...

Robust growth seen for FPX.
June 12, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin MALAYSIA'S Internet-based payment system, the financial process exchange (FPX), is estimated to register more than 200 per cent annual growth in transaction value over the...

Golden Hope to ink deal with Dutch company.
June 12, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus GOLDEN Hope Plantations Bhd will sign a unique four-year collaboration agreement with the Netherlands' NIZO food research later this month, a deal that will allow its European...

An exciting time this week?
June 12, 2006... (From Business Times (Malaysia)) Byline: W.Q. Mun Long Term Trend: Bullish Short Term Trend: Extension of technical rebound Momentum Index: + 2 Relative Strength Index: 59 Observations: The Kuala Lumpur CPO futures market staged a...

Jobs DB eyes top spot in online recruitment services.
June 12, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan RECRUITMENT agency Jobs DB Malaysia Sdn Bhd will work on growing its online recruitment and outsourcing services over the next two years to move up a notch to pole position in...

4 directors in Gading Sari.
June 12, 2006... (From Business Times (Malaysia)) GADING Sari Aviation Services is Pahang-registered and operates a fleet of two leased 737-200s, sources told Business Times. Checks done by Business Times at the Companies Commission of Malaysia (CCM)...

New Carlsberg drinks set to revive consumer interest.
June 12, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj BREWER Carlsberg Brewery Malaysia Bhd is creating new and innovative alcoholic drinks to revive consumer interest in beer and stout. Last April, it put out a...

Tradewinds hotels face challenges.
June 12, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar TRADEWINDS Corp Bhd is not expecting its hotel business to post a profit for its current financial year as prevailing low room rates in Malaysia pose a major challenge for it...

'Support public transport system'.
June 12, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar FINANCING is a major problem for the local transport industry and Malaysia should find the means of supporting the system, says an industry expert. "We should find means...

French line's largest container vessel calls at Westports.
June 12, 2006... (From Business Times (Malaysia)) WESTPORTS Malaysia at Port Klang marked yet another historic milestone with the maiden voyage of CMA-CGM's largest vessel CMA-CGM Fidelio, a 9,400- TEU (20-foot equivalent units) container vessel that...

IGB upbeat on recouping Centrepoint expenses.
June 12, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur PROPERTY developer IGB Corp Bhd expects to recoup all expenses incurred for the development of two new office buildings at the Mid Valley City in Kuala Lumpur in eight years' time....

(Kumpulan Guthrie Bhd has ... ).
June 12, 2006... (From Business Times (Malaysia)) KUMPULAN Guthrie Bhd has dismissed speculation that conglomerate Sime Darby Bhd is interested in taking over the plantation group. "I don't know. It (takeover talk) has been in the market. But we...

DHL entry for Transmile?
June 12, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li TRANSMILE Group Bhd recently lost a bid to renew a contract with its biggest shareholder, Pos Malaysia Bhd, fuelling speculation that the postal operator wants to sell its shares...

CEO: Guthrie reaping results from strategy.
June 12, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar MALAYSIAN plantation and property group Kumpulan Guthrie Bhd's initiative in enhancing its earnings from its plantation division is beginning to show results. Group chief...

Potential for bancassurance to grow further: Mohd Razif.
June 12, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun BANKS are well-positioned to grow their insurance business further as the majority of Malaysians are bank customers, says Bank Negara Malaysia Deputy Governor Datuk Mohd Razif...

Wahab to propel Mimos into world-class research centre.
June 12, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel MALAYSIAN engineers have what it takes to compete against the world's best, says Mimos Bhd's incoming chief. "One is only limited by the boundaries and limits set by...

Bry-Air's new product helps to save energy.
June 12, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran BRY-AIR (Malaysia) Sdn Bhd, a maker of dehumidification and energy conservation equipment, said it has developed a product that provides a win-win situation for both the...