Business Times (Malaysia) articles from June 2006

Business Times (Malaysia) archives from June 2006

Petronas starts output from Sudan block.
June 30, 2006... (From Business Times (Malaysia)) PETROLIAM Nasional Bhd (Petronas) has started crude oil production from Block 5A in Sudan, operated by White Nile (5B) Operating Co Ltd, which is a partnership involving Petronas (68.875 per cent) ONGC...

Industry expert: Proton-Perodua merger inevitable.
June 30, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li MOTOR industry analyst Professor Garel Rhys sees a merger between national carmakers Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) as inevitable in the...

Penang tailors clothings for overseas markets.
June 30, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel PENANG may have long been associated with the electronics industry and tempting hawker fare, but one of the island's best-kept secrets could very well be the clothes on your...

All-clear for Metroplex to sell Putra Place.
June 30, 2006... (From Business Times (Malaysia)) HOTEL and property firm Metroplex Bhd has been given the green light to sell its Putra Place property after Morgan Stanley Emerging Markets Inc withdrew its objection against the sale. "Morgan...

Garment firms looking forward to FTA with US.
June 30, 2006... (From Business Times (Malaysia)) MALAYSIA'S textile and garment industry is looking forward to a US-Malaysia Free Trade Agreement (FTA) to help boost exports. Federation of Malaysian Manufacturers (northern region) chairman, Datuk...

Alam Maritim to buy four new vessels.
June 30, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah ALAM Maritim Resources Bhd - bound for Bursa Malaysia's main board - will spend US$51 million (RM188 million) in the next two years to buy four new vessels, senior executives...

Crest Builder confident of construction profit.
June 30, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario MAIN board-listed Crest Builder Holdings Bhd expects profit from its construction business to contribute significantly to its bottom line in its current financial year,...

Hong Leong aims to grant RM500m in personal loans.
June 30, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon HONG Leong Bank Bhd, which yesterday launched a monthly instalment loan product that promises fast approval, aims to secure RM500 million in personal loans within a year with...

UDA surges after Khazanah offer for its remaining stocks.
June 30, 2006... (From Business Times (Malaysia)) SHARES of UDA Holdings Bhd jumped 21.4 per cent to RM2.84 yesterday on Bursa Malaysia after Khazanah Nasional Bhd said it will pay RM3 cash per share to buy all remaining stocks it did not already own in...

KUB sets out blueprint to return to the black.
June 30, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam KUB Malaysia Bhd is implementing a strategic blueprint with five new thrusts, formulated to raise funds, trim losses and to bring the group back to the black. The main...

WW Cable sees 10pc demand boost for automotive cables.
June 30, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar CABLE manufacturer Wonderful Wire & Cable Bhd (WW Cable) expects demand for its automotive cables to grow by 10 per cent in the next two years, said chairman Datuk Kamaruddin...

Asia Telecoms to operate soon as mobile virtual network operator.
June 30, 2006... (From Business Times (Malaysia)) ASIA Telecoms, recently awarded the Network Service Provider NSP(1) licence by the Malaysian Communications & Multimedia Commission, will soon operate as a mobile virtual network operator (MVNO). The...

Bandar Raya to launch Lahore project by November.
June 30, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur BANDAR Raya Developments Bhd (BRDB) plans to launch the first phase of its RM467 million township in south-east Lahore, Pakistan, by November this year. BRDB's interest in the...

Media Prima clarifies.
June 30, 2006... (From Business Times (Malaysia)) MEDIA Prima Bhd clarified that it has written off the cost of its investment in its Ghana television unit and that anything it brings back will be pure profit to the group. It also said that its...

Tyre retreading charges to go up.
June 30, 2006... (From Business Times (Malaysia)) THE Tyre Retreading Manufacturers' Association of Malaysia (TRMAM) has warned users to expect a 10 to 15 per cent price increase for tyre retreading services soon. In a statement, TRMAM said the move...

NasionCom, Deutsche Telekom team up.
June 30, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario NASIONCOM Holdings Bhd is teaming up with Deutsche Telekom AG, Europe's largest integrated telecommunications provider, to roll out a RM200 million Worldwide Interoperability...

Petronas pumps up record profit amid rising oil prices.
June 30, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus; Zaidi Isham Ismail HIGHER crude oil prices pumped up Petroliam Nasional Bhd's (Petronas) net profit by 22 per cent to a record RM43.6 billion for the year-ended March 31 2006....

Tajudin in counterclaim against TM, others for nearly RM13.5b.
June 30, 2006... (From Business Times (Malaysia)) TAN Sri Tajudin Ramli has served a defence and counterclaim against Telekom Malaysia Bhd (TM) and other parties for close to RM13.5 billion. In a statement to Bursa Malaysia, TM said it has been served...

Bulk of capex goes to local ops.
June 30, 2006... (From Business Times (Malaysia)) PETRONAS will invest more in domestic operations this year. Capital expenditure (capex) will be increased to RM27.7 billion for the current financial year ending March 2007, up from RM18.5 billion last...

Petronas gas subsidies increase 93pc to RM14b.
June 30, 2006... (From Business Times (Malaysia)) PETROLIAM Nasional Bhd's (Petronas) subsidy to maintain gas prices has been costly for the national oil corporation. For the year under review, its subsidies increased 93.2 per cent to RM14.3 billion. ...

Trade groups urged to utilise RM10m fund.
June 30, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran THE RM10 million Malaysia-Singapore Third Country Business Development Fund, set up by the two countries to explore opportunities in third countries, is still under-utilised....

TM: No immediate plans for more foreign investment.
June 30, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran TELEKOM Malaysia Bhd (TM), which has been buying stakes in telecommunications companies abroad, has enough on its plate for now, chief executive officer Datuk Abdul Wahid Omar...

Upward momentum intact.
June 30, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE on Bursa Malaysia tracked regional stock markets higher yesterday as advances outpaced declines by 467 to 220. The benchmark Kuala Lumpur Composite Index (KLCI) rebounded...

Supercomal diversifies into high-tech products.
June 30, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel SUPERCOMAL Technologies Bhd has embarked on a turnaround plan for its business by diversifying into high-technology products for the automotive and medical instrumentation...

TNB to reap huge savings with auto meter reading units.
June 30, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh TENAGA Nasional Bhd (TNB) will spend RM50 million to replace its manual meter reading units with 60,000 units of automatic meter reading (AMR) units in the next three years. ...

When there's pain, Panadol gains ... and it's not just headaches.
June 30, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching THE estimated RM56 million Panadol sales in Malaysia are set to jump by 10 per cent to RM62 million this year with the launch of Panadol Extend, a new drug for muscular pain...

Habib sees RM150m revenue this year.
June 30, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar HABIB Holdings Sdn Bhd expects to post RM150 million in revenue this year, helped by more tourist buying and the launch of its new range of jewellery. The company...

Scomi seeks bigger share of drilling fluids market.
June 29, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah SCOMI Group Bhd wants to get a bigger portion of the global drilling fluids market, estimated at US$4.6 billion (RM17 billion) a year, by leveraging on the reputation of KMC...

BCHB unit in Bahrain deal.
June 29, 2006... (From Business Times (Malaysia)) BUMIPUTRA-Commerce Holdings Bhd's (BCHB) subsidiary CIMB Group Sdn Bhd (CIMBG) has formed a joint venture with a company in Bahrain to provide Islamic investment banking services there. The...

Rimbunan Sawit on track to meet profit, revenue targets.
June 29, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching RIMBUNAN Sawit Bhd was the seventh most actively traded stock yesterday, shooting to a high of RM1.18 on its first day of trade, a hefty 18 per cent premium to its issue price of...

Media Prima eyes listing of Ghana TV unit.
June 29, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee MALAYSIA'S biggest media group Media Prima Bhd plans to list its Ghana television unit by year-end or early next year to raise funds for further expansion. Group managing...

Delivery of tax services - the way forward.
June 29, 2006... (From Business Times (Malaysia)) Byline: Dr Veerinderjeet Singh IN TODAY'S column, we continue the discussion on issues relating to tax administration and tax compliance management with a focus on what the Malaysian Inland Revenue...

Sustained growth in private sector financing: Bank Negara.
June 29, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran PRIVATE sector financing registered a sustained growth in May, with banking system loans and private debt securities outstanding expanding at a combined annual rate of 9.3 per...

Puncak Niaga to take another look at capex.
June 29, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar WATER company Puncak Niaga Holdings Bhd says it will have to take another look at its capital expenditure (capex) if the Government rejects its request to charge higher water...

Wellcall bullish on exports.
June 29, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon RUBBER hose maker Wellcall Holdings Bhd, en route to a listing on the second board of Bursa Malaysia next month, expects net profit to grow 27 per cent to RM11.6 million for...

Lebar Daun bids for RM500m jobs.
June 29, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar PROPERTY and construction firm Lebar Daun Bhd has submitted several bids for public and private infrastructure projects worth more than RM500 million. Chairman and...

Berjaya posts RM205m net loss for 4th quarter.
June 29, 2006... (From Business Times (Malaysia)) CONGLOMERATE Berjaya Corp Bhd registered a fourth-quarter net loss of RM205.1 million compared with RM80.8 million it lost for the same period last year. The loss was due mainly to impairment of...

Malaysia goes deep-sea fishing.
June 29, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching MALAYSIA wants to develop its deep-sea fishery resources in a big way, giving fishermen deep-sea fishing boats and improving the processing, marketing and distribution activities...

Allianz keen on retakaful ops.
June 29, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh ALLIANZ General Insurance Malaysia Bhd plans to form a strategic tie-up with a local takaful operator to venture into the retakaful Islamic reinsurance business. The...

MBf to continue to trim its debt.
June 29, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran CASH-STRAPPED MBf Corp Bhd is keen to expand its tourism and leisure business once it has cut down its debts to a manageable level, says chief executive officer Datuk Loy Teik...

(The 35-storey Malaysia Airlines ... ).
June 29, 2006... (From Business Times (Malaysia)) THE 35-storey Malaysia Airlines (MAS) building in Jalan Sultan Ismail, Kuala Lumpur, has been sold to stateowned investment fund Permodalan Nasional Bhd (PNB) for RM130 million. MAS told Bursa...

Khazanah to take UDA private as early as 2007.
June 29, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur PROPERTY group UDA Holdings Bhd will be taken private by state-owned investment agency, Khazanah Nasional Bhd, by as early as next year. UDA Holdings yesterday announced it...

MAS to receive RM650m for severance scheme.
June 29, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin NATIONAL carrier Malaysia Airlines (MAS) will receive a total of RM850 million to cover its mutual separation scheme (MSS) and possible losses from its asset disposal...

ASN2 income distribution.
June 29, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus AMANAH Saham Nasional Bhd (ASNB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has declared an income distribution of 5 sen per unit of its Amanah Saham Nasional...

Goodway to set up factories in China.
June 29, 2006... (From Business Times (Malaysia)) RUBBER compound manufacturer Goodway Integrated Industries Bhd plans to expand to China to establish its presence in Asia's fastest growing economy. China's growing demand for vehicles opens up vast...

Kelana Jaya project lifts Glomac Q4 net profit.
June 29, 2006... (From Business Times (Malaysia)) PROPERTY developer Glomac Bhd saw its fourth-quarter 2005 net profit jump 68.6 per cent to RM16.8 million, buoyed by contribution from its Glomac Square project in Kelana Jaya and the high-end...

Impressive rebound.
June 29, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia paused for another consolidation yesterday as declines outpaced advances by 373 to 272. The benchmark Kuala Lumpur Composite Index (KLCI) rebounded to...

Japanese firms use Penang as springboard.
June 29, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel JAPANESE investments into Penang, which totalled RM422.06 million last year, are shifting away from just the electrical and electronics sector. Japan Consul-General in...

'Container shipping faces various threats'.
June 29, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid GOVERNMENTS and industries should harness technology in responding to the threats of containers being used as tools for terrorism, illegal activities, drugs and arms smuggling,...

College unveils aggressive regional expansion plans.
June 29, 2006... (From Business Times (Malaysia)) Byline: Audrey Dermawan PENANG-based Allianze College of Medical Sciences (ACMS) plans to set up bases in every major town in Indonesia, Myanmar, Bangladesh, Indo-China and Thailand as part of its...

ICSM to develop courses for overseas market.
June 29, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu SECURITY management courses developer International Centre For Security Management Sdn Bhd (ICSM) aims to expand via developing courses and modules for the overseas market. ...

G. Hope commissions biodiesel plant.
June 28, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail GOLDEN Hope Plantations Bhd commissioned what is probably Asia's first commercial biodiesel plant yesterday and aims to churn out a total of almost 400,000 tonnes of the...

Cahya Mata price may climb after consolidation.
June 28, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia resumed their technical rebounds after a short pause on Monday with advancing counters outpacing declines by 419 to 243. The benchmark Kuala Lumpur...

Govt approves projects worth RM2.7b.
June 28, 2006... (From Business Times (Malaysia)) THE Government has approved 32 biodiesel-related projects worth RM2.7 billion which will churn out three million tonnes of biodiesel. International Trade and Industry Deputy Minister Datuk Ahmad Husni...

Md Nor appointed BCHB, CIMB chairman.
June 28, 2006... (From Business Times (Malaysia)) THE present chairman of the executive committee and director of Khazanah Nasional Bhd, Tan Sri Md Nor Yusof has been appointed as chairman of Bumiputra-Commerce Holdings Bhd (BCHB) and CIMB group...

Taliworks to reward shareholders.
June 28, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid TALIWORKS Corp Bhd, a water and waste management specialist, will return at least half of its net profit as gross dividends to shareholders for the next three years starting from...

ECM Libra resumes trading.
June 28, 2006... (From Business Times (Malaysia)) ECM LIBRA Avenue Bhd will resume trading today, assuming Avenue Capital Resources Bhd's listing status on the main board of Bursa Malaysia. Datuk Kalimullah Hassan has been appointed chairman and...

KFCH investors vote out nine directors.
June 28, 2006... (From Business Times (Malaysia)) Byline: Dalila Abu Bakar THERE was a major turn of events at the KFC Holdings (Malaysia) Bhd (KFCH) annual general meeting (AGM) yesterday when more than 90 per cent of shareholders voted against the...

Govt aims to narrow deficit to 3.5pc.
June 28, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus MALAYSIA is aiming to narrow its budget deficit further to 3.5 per cent of gross domestic product (GDP) this year and eventually to have either a surplus or balanced budget,...

Board reshuffle.
June 28, 2006... (From Business Times (Malaysia)) THE New Straits Times Press (Malaysia) Bhd (NSTP) yesterday announced several changes in its board, including the retirement of its long-serving chairman, Jeneral (b) Tan Sri Mohd Ghazali Che Mat. ...

NSTP expects to maintain results.
June 28, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee THE New Straits Times Press (Malaysia) Bhd (NSTP) expects to maintain last year's financial performance in its current year, on the momentum of improvement in products and contents...

UDA shares suspended.
June 28, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur SHARES of property group UDA Holdings Bhd were suspended from trading at the company's request yesterday, pending announcement of a major corporate restructuring plan. Sources...

EPF move a prelude to bank merger?
June 28, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez; Kamarul Yunus THE bigger picture to the Employees Provident Fund's (EPF) impending emergence as a controlling shareholder in Rashid Hussain Bhd (RHB) may well be further...

Minetech, Korea Petroleum to set up bitumen plant.
June 28, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah QUARRY specialist Minetech Resources Bhd has teamed up with South Korea's biggest asphalt producer and trader to make bituminous-related products for the local and regional...

Macquarie tips on stocks to pick.
June 28, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon MACQUARIE Research, turning cautious on Asian stocks as global growth slows, is advising investors to overweight defensive markets such as Malaysia and Singapore over a...

Amanah Raya, Johawaki in property project venture.
June 28, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin AMANAH Raya Bhd (ARB) is partnering private company Johawaki Development Sdn Bhd to develop a RM166 million mixed-property development project in Kuala Lumpur. Both...

Citibank to open two new units.
June 28, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon CITIBANK Bhd will open two new branches in Puchong and Penang's Bukit Tengah to enable it to reach out to markets that it has not been traditionally strong in, such as small...

Rafidah: Efforts to create favourable investment climate bearing fruits.
June 28, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam MALAYSIA will maintain its favourable business and investment climate by continuously reviewing processes and procedures and improving the Government's delivery system. ...

Go back to rubber, Chin tells agri sector.
June 27, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail MALAYSIA'S agriculture sector, which has been preoccupied with planting oil palm for the past several decades, should consider going back to growing rubber. Plantation...

Bursa, FTSE launch six indices.
June 27, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon BURSA Malaysia Bhd, together with financial index provider FTSE Group, yesterday launched six new indices and phased out the all-stock Emas Index to diversify its products...

RAM's AA3, P1 ratings for RHB Islamic.
June 27, 2006... (From Business Times (Malaysia)) RATING Agency Malaysia Bhd (RAM) has assigned respective long- and short-term general bank ratings of AA3 and P1 to RHB Islamic Bank Bhd. The long-term rating carries a stable outlook. The ratings reflect...

Mulpha to continue with share buyback policy.
June 27, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching MULPHA International Bhd, which rewards its shareholders through share buybacks instead of dividends, had from January 2005 to May 2006 bought back 65.31 million shares from the...

BCB's target deposit growth on track with marketing push.
June 27, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon BUMIPUTRA-Commerce Bank's (BCB) plan to grow deposits by 15 per cent to RM17 billion this year is on track after it stepped up marketing efforts to attract depositors,...

Landmarks likely to retest overhead resistance level.
June 27, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia paused for short consolidations yesterday. Its overall advancing counters outpaced its overall declining counters by 412 to 257. The Kuala...

DHL to build on strategic alliance with Transmile.
June 27, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li GLOBAL courier firm DHL Express said it is not looking at buying a stake in Transmile Group Bhd for the time being, but rather will focus on the strategic partnership forged...

RapidKL plans to buy 400 buses by year-end.
June 27, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail RANGKAIAN Pengangkutan Integrasi Deras Sdn Bhd (RapidKL) plans to spend at least RM200 million to buy about 400 new buses by year-end. RapidKL chief operating officer -...

(Malaysia's trade policy is ... ).
June 27, 2006... (From Business Times (Malaysia)) MALAYSIA'S trade policy is to pursue trade liberalisation through the rule-based multilateral trading system under the World Trade Organisation (WTO). To complement the multilateral liberalisation...

GHope unit sells stake in GHIAP.
June 27, 2006... (From Business Times (Malaysia)) GOLDEN Hope International Investments, a wholly-owned subsidiary of Golden Hope Plantations Bhd, has sold 40 per cent of its shares in Golden Hope Investments (Asia Pacific) (GHIAP) to AFIA International...

Malaysia to ensure safeguards in FTA talks with US: Rafidah.
June 27, 2006... (From Business Times (Malaysia)) MALAYSIA will protect its interests when negotiating a free trade agreement (FTA) with the US, Minister of International Trade and Industry Datuk Seri Rafidah Aziz says. "Malaysia will not accept any...

Scomi unit in group bidding for Penang monorail job.
June 27, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah SCOMI Group Bhd's listed engineering outfit yesterday said it was part of a consortium that is bidding to build a monorail system in Penang. Scomi Engineering Bhd senior...

Dialogue expected to be wrapped up within scheduled meetings.
June 27, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran THE ongoing Malaysia-US free trade agreement (FTA) talks can be concluded within the schedule of meetings lined up till the end of the year, says Howard F. Rosen, the executive...

Killinghall's SBB payment by July 6.
June 27, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee KILLINGHALL (Malaysia) Bhd will receive the payment for its stake in Southern Bank Bhd (SBB) by July 6 and plans to be de-listed and liquidated thereafter. The group's...

SC accepts single stock futures as syariah-compliant.
June 27, 2006... (From Business Times (Malaysia)) THE Securities Commission's (SC) Syariah Advisory Council (SAC) has approved single stock futures (SSF) as a Syariah-compliant instrument, provided that the underlying stocks of the SFF are...

Kulim to raise output at oleochemical plant.
June 27, 2006... (From Business Times (Malaysia)) Byline: Chuah Bee Kim PLANTATION group Kulim (Malaysia) Bhd is increasing the annual production of its oleochemical plant in Pasir Gudang, Johor, from 150,000 tonnes to 380,000 tonnes. The plant...