Business Times (Malaysia) articles from March 2007

Business Times (Malaysia) archives from March 2007

M3nergy gets invites to strike oil.
March 30, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah ENERGY firm M3nergy Bhd, having already won oil and gas blocks in India and Indonesia, says it has been invited by the governments of Vietnam and three African nations to help...

Golden Frontier plans listing on Vietnam bourse.
March 30, 2007... (From Business Times (Malaysia)) Byline: Marina Emmanuel GOLDEN Frontier Bhd, having operated in Vietnam for more than a decade, is mulling plans to list on the country's stock exchange. Executive chairman and group managing...

MMHE clinches Gemusut deal.
March 30, 2007... (From Business Times (Malaysia)) MALAYSIA Marine and Heavy Engineering Sdn Bhd (MMHE) has been awarded a contract to build a floating production unit (FPU) for the Gemusut oilfield offshore Sabah. The FPU, said to be one of the...

KPS may have to consolidate before rising.
March 30, 2007... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia continued to consolidate on their sideways course yesterday. However, advances outnumbered declines by 672 to 206. The benchmark Kuala Lumpur...

Offshore business to make up 6-7pc of revenue: MISC.
March 30, 2007... (From Business Times (Malaysia)) Byline: Kamarul Yunus MISC Bhd expects its offshore business to make up between 6 and 7 per cent of total revenue over the next five years. MISC is the listed shipping arm of national oil...

Halal showcase expected to rake in RM200m sales.
March 30, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah THE Fourth Malaysia International Halal Showcase (Mihas) 2007 is expected to rake in sales of RM200 million during the five-day show in early May in Kuala Lumpur. ...

Gamuda, WCT and Sinohydro bag more work.
March 30, 2007... (From Business Times (Malaysia)) Byline: Ooi Tee Ching A GAMUDA Bhd, WCT Engineering Bhd and China-based Sinohydro Corp tripartite joint venture has been awarded additional jobs worth RM200 million at the New Doha International...

SGL expects RM1b plant to boost Asian sales.
March 30, 2007... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam GERMANY-based SGL Carbon Group, the world's leading maker of carbon and graphite, expects a 25 per cent sales contribution from Asia within five to eight years, driven by its...

Pelikan sees acquisition lifting sales to RM1.2b.
March 30, 2007... (From Business Times (Malaysia)) Byline: Vasantha Ganesan PELIKAN International Corp Bhd is expecting turnover to hit as high as RM1.2 billion this year as sales from its recently acquired hardcopy business are taken into account....

Wah Seong, Dialog forge alliance.
March 30, 2007... (From Business Times (Malaysia)) WAH Seong Corp Bhd and Dialog Group Bhd, both major players in the oil and gas sector, are joining forces to promote their products and seek new markets and opportunities worldwide. They announced a...

Mega merger moving smoothly.
March 30, 2007... (From Business Times (Malaysia)) SYNERGY Drive Sdn Bhd is moving on schedule towards its planned listing on the main board of Bursa Malaysia in the fourth quarter of this year, its chief executive designate Datuk Ahmad Zubir Murshid said....

HSBC to use Malaysia as regional hub for Islamic banking.
March 30, 2007... (From Business Times (Malaysia)) Byline: Chong Pooi Koon HSBC Bank Malaysia Bhd has submitted an application to Bank Negara Malaysia (BNM) to set up a full-fledged Islamic banking subsidiary here, its country head said. Deputy...

Malakoff in pact to build, operate RM881m plant.
March 30, 2007... (From Business Times (Malaysia)) MALAKOFF Bhd has entered into a joint-venture agreement to build and operate a RM881 million seawater desalination plant in Algeria. The plant, to be located at Souk Tlete in Tlemcen, Algeria, will...

Valuation department may drop on-site inspection.
March 30, 2007... (From Business Times (Malaysia)) Byline: Chong Jin Hun MALAYSIA'S Valuation and Property Services Department (JPPH) may do away with on-site real estate inspections for stamp duty purposes, to further boost operational efficiency....

World furniture trade forecast to hit US$92b.
March 30, 2007... (From Business Times (Malaysia)) Byline: Chong Jin Hun GUANGZHOU: World furniture trade is forecast to hit some US$92 billion (RM318.32 billion) this year, up six per cent from the US$87 billion (RM301.02 billion) last year, in...

MAS: Joburg to be gateway.
March 30, 2007... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin JOHANNESBURG: Malaysia Airlines (MAS) signed yesterday a code-share agreement with South African Airways (SAA), and said it paves the way for the Malaysian carrier to use...

Price to re-test RM1.51 barrier.
March 29, 2007... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia continued to consolidate yesterday as falls beat rises by 725 to 224. The benchmark Kuala Lumpur Composite Index (KLCI) opened marginally lower at...

Fountain View reprimanded.
March 29, 2007... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar FOUNTAIN View Development Bhd and its directors have been publicly reprimanded by Bursa Malaysia Securities Bhd for breaches of several listing requirements. Among those...

Plan for Commodity Murabahah.
March 29, 2007... (From Business Times (Malaysia)) Byline: Rupa Damodaran MALAYSIA is establishing a new Islamic financial derivative known as the Commodity Murabahah, using crude palm oil (CPO) as the underlying commodity. The new derivative is...

New technology to help rake in RM5b export revenue.
March 29, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah MALAYSIA has developed a technology to produce polyurethane using palm oil-based polyols, a new venture with a potential export revenue of RM5 billion a year. The RM5...

FTEC plans 2 TecAsia stores in Klang Valley.
March 29, 2007... (From Business Times (Malaysia)) INFORMATION Technology (IT) specialist FTEC Resources Bhd plans to set up two other "TecAsia" concept stores by 2008 to further market its computer products and IT services to end users in the Klang...

NCB targets 8pc growth in revenue this year.
March 29, 2007... (From Business Times (Malaysia)) Byline: Presenna Nambiar PORT operator NCB Holdings Bhd is aiming for net profit growth of 1.3 per cent for its current year on a target 8 per cent improvement in revenue. NCB, which operates...

Northport plans to redevelop South Port terminal.
March 29, 2007... (From Business Times (Malaysia)) NORTHPORT (M) Bhd plans to invest between RM60 and RM70 million to redevelop its South Port terminal. The investment will be used to develop the South Port's one kilometre quayline, deepen its draft...

Gadang optimistic of securing major deals under 9MP.
March 29, 2007... (From Business Times (Malaysia)) Byline: Sharen Kaur GADANG Holdings Bhd, which is aiming for a main board transfer this year, expects to win some sizeable infrastructure contracts and private development jobs under the Ninth...

(Malaysia is considering strategic ... ).
March 29, 2007... (From Business Times (Malaysia)) MALAYSIA is considering strategic alliances with international Islamic financial institutions rather than issuing more Islamic banking licences, Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar...

Asian Finance Bank plans to launch funds worth RM1b.
March 29, 2007... (From Business Times (Malaysia)) Byline: Hamisah Hamid ASIAN Finance Bank (AFB) plans to launch RM1 billion worth of funds by end of the year, with most of it to be invested in real estate. AFB director Salah Mohammed Jaidah said...

Realty fund closes at US$270m.
March 29, 2007... (From Business Times (Malaysia)) CAPITALAND, together with Aseambankers Malaysia Bhd, has secured an interest of 3.6 times for Malaysia's largest private real estate fund, Malaysia Commercial Development Fund (MCDF), at US$270 million...

Nazir: Need to plug leak in Islamic financial system.
March 29, 2007... (From Business Times (Malaysia)) A PROMINENT merchant banker says there might be a crack in the Islamic financial system through which a portion of the said US$1 trillion (RM3.56 trillion) Islamic funds has leaked out. CIMB group...

Khazanah committed to reducing its stake in GLCs.
March 29, 2007... (From Business Times (Malaysia)) Byline: Roziana Hamsawi KHAZANAH Nasional Bhd's managing director Datuk Azman Mokhtar said the government investment arm is committed to selling down its stake in government-linked companies (GLCs )....

Iris partners IBM to tap US market.
March 29, 2007... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam IRIS Corp Bhd, a maker of electronic passports, hopes its overseas revenue will grow by 50 per cent in two years upon setting up a manufacturing plant in Vermont, US. ...

Jamarat Bridge: Malaysia's badge of honour.
March 29, 2007... (From Business Times (Malaysia)) Byline: Nurris Ishak THEY work tirelessly through days of searing heat and bone-chilling nights to rebuild a bridge that billions will walk on. The Jamarat Bridge in Saudi Arabia is no ordinary...

TH Properties, Seri Pajam in RM34m township deal.
March 29, 2007... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam LEMBAGA Tabung Haji's property arm TH Properties Sdn Bhd yesterday signed a RM34 million deal with Seri Pajam Development Sdn Bhd to jointly develop a 13.6ha area in...

EPF may start talks with strategic partners soon.
March 29, 2007... (From Business Times (Malaysia)) Byline: Goh Thean Eu THE Employees Provident Fund (EPF) may start talks with parties interested to buy a portion of its stake in the RHB Group within the next few weeks. The pension fund is...

No decision on Proton partner yet, says DPM.
March 29, 2007... (From Business Times (Malaysia)) NO DECISION has been made yet on Proton Holdings Bhd's search for a strategic partner, reportedly to be announced by the end of the month. Deputy Prime Minister Datuk Seri Najib Razak said the...

Ogawa World expects 37pc jump in profit.
March 29, 2007... (From Business Times (Malaysia)) Byline: Vasantha Ganesan OGAWA World Bhd, en route to a listing on the main board of Bursa Malaysia, is optimistic of seeing a 37 per cent jump in net profit to RM16 million in the financial year...

Public Mutual to launch overseas Islamic fund.
March 29, 2007... (From Business Times (Malaysia)) PUBLIC Mutual Bhd will launch an overseas Islamic dividend fund, the Public Islamic Asia Dividend Fund (PIADF) next week, tailored for moderate investors whose primary aim is income and capital growth is...

AmInvestment raises AmPan European Property Equities fund size.
March 29, 2007... (From Business Times (Malaysia)) AMINVESTMENT Bank Group has increased the fund size of AmPan European Property Equities to 600 million units. The fund was launched on March 6 this year with an authorised fund size of 250 million...

BNM inks MOU with Qatar, Dubai financial regulatories.
March 28, 2007... (From Business Times (Malaysia)) BANK Negara Malaysia (BNM) has signed a memorandum of understanding (MOU) for closer cooperation in Islamic finance with the regulatory authorities of Qatar and Dubai. BNM deputy governor Datuk Zamani...

Mayban Fortis bullish on revenue, premium.
March 28, 2007... (From Business Times (Malaysia)) Byline: Sharen Kaur MAYBAN Fortis Holdings Bhd expects its revenue and premium to grow by more than 25 per cent a year, in a bid to lead the insurance industry by 2009. The group, which is...

BASF new facility to enhance product development.
March 28, 2007... (From Business Times (Malaysia)) BASF is opening a new Product Development Centre in Pasir Gudang, Johor, to strengthen its commitment to its engineering plastics customers in the Asia Pacific. The new facility is located at the site...

Sitt Tatt likely to consolidate.
March 28, 2007... (From Business Times (Malaysia)) Byline: S.N. Lock SHARE prices on Bursa Malaysia continued pausing for short consolidations yesterday. However, its overall declining counters outnumbered its advancing counters by 456 to 405. ...

ABN AMRO plans Islamic banking unit.
March 28, 2007... (From Business Times (Malaysia)) Byline: Roziana Hamsawi ABN AMRO Bank Bhd, which launched its first Islamic product yesterday, has plans to convert its Islamic banking window business into a subsidiary. Managing director and...

Hong Leong unit inks distribution pact with UBS.
March 28, 2007... (From Business Times (Malaysia)) HONG Leong Islamic Bank (HLIB) yesterday signed a distribution agreement with UBS, one of the world's leading financial firms, allowing the former to sell Islamic non-ringgit structured products to its...

ACCCIM: Review steel bar ceiling price.
March 28, 2007... (From Business Times (Malaysia)) THE Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM) has called for a review of the ceiling price for steel bars to curb rampant black-market activities and ease the supply situation...

IJM unit in tie-up to build RM530m India township.
March 28, 2007... (From Business Times (Malaysia)) BUILDER IJM Corp Bhd's indirectly-owned subsidiary, IJM (India) Infrastructure Ltd (IJMII), has signed a RM530 million agreement to jointly develop an integrated township in India. IJMII will team up...

Property sector set to be more vibrant.
March 28, 2007... (From Business Times (Malaysia)) Byline: Presenna Nambiar THE abolishment of the real property gains tax (RPGT) will show an immediate impact on the volume of transactions in the local property market come April 1. Association...

BLand signs Vietnam deal.
March 28, 2007... (From Business Times (Malaysia)) BERJAYA Land Bhd (BLand) has signed a memorandum of understanding with KY Hoa Tourist Trading Co Ltd of Vietnam to develop 6.6ha in Ho Chi Minh City into a financial centre. The mixed commercial...

New wealth management services from mid-April.
March 28, 2007... (From Business Times (Malaysia)) Byline: Roziana Hamsawi BANKING group ABN AMRO Bank Bhd will start offering wealth management services in Malaysia from middle of next month. The traditionally corporate business-centred bank said...

AmIslamic to finance group vying for RM3b water deal.
March 28, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah AMBANK Group's Islamic banking arm is working closely with a consortium vying for a RM3 billion inter-state water project to provide funding and advisory service to it, its...

Hassle-free MNI life insurance.
March 28, 2007... (From Business Times (Malaysia)) Byline: Sharen Kaur MALAYSIA Nasional Insurance Bhd (MNI), a unit of Mayban Fortis Holdings Bhd, has launched a new life insurance plan that accepts all Malaysians regardless of their health...

Work to start soon on Tg Bin petroleum hub.
March 28, 2007... (From Business Times (Malaysia)) Byline: Kang Siew Li; Presenna Nambiar PLANS to develop the reclaimed 40ha island in Tanjung Bin, Johor, into one of the world's largest petroleum hubs is finally taking off, seven years after it was...

PM: Foreigners can hold full equity in Islamic banks.
March 28, 2007... (From Business Times (Malaysia)) Byline: Kamarul Yunus MALAYSIA has advanced further in its goal of becoming a global Islamic financial centre by allowing foreigners to own entire equities in Islamic financial institutions in the...

Works Ministry relieved of building jobs below RM5m.
March 28, 2007... (From Business Times (Malaysia)) Byline: Rupa Damodaran MOST ministries have decided to undertake their own building projects, following a report by the Economic Planning Unit (EPU) that the Public Works Department (PWD) is swamped...

Pact to boost cross-border flow of Islamic funds.
March 28, 2007... (From Business Times (Malaysia)) Byline: Goh Thean Eu THE Securities Commission (SC) and the Dubai Financial Services Authority (DFSA) have signed an agreement to allow cross-border marketing of Islamic funds. With the tie-up,...

Taxkawan.com portal to raise public awareness of taxation.
March 28, 2007... (From Business Times (Malaysia)) A NEW website has been launched, Taxkawan.com, to provide useful information and knowledge on Malaysian taxation. Among others, the portal allows subscribers to interact through discussion forums made...

SPNB revives 2 housing projects.
March 27, 2007... (From Business Times (Malaysia)) SYARIKAT Perumahan Negara Bhd (SPNB), a wholly-owned subsidiary of the Minister of Finance Inc, has successfully revived two housing projects, including Bandar Pinggiran Subang. Some 1,482 buyers of...

Unisem price poised to re-test overhead resistance.
March 27, 2007... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia continued to stay firm yesterday with advances outnumbering declines by 463 to 447. The benchmark Kuala Lumpur Composite Index (KLCI) opened marginally...

CGC, Aureos Capital in joint venture.
March 27, 2007... (From Business Times (Malaysia)) CREDIT Guarantee Corp Malaysia Bhd (CGC) has signed a joint venture agreement with Aureos Capital Ltd to pave the way for greater access to small and medium-sized enterprise (SME) financing. CGC...

Sino Hua-An soars on main board debut.
March 27, 2007... (From Business Times (Malaysia)) Byline: Chong Pooi Koon SHARES of Sino Hua-An International Bhd, a Chinese coke producer that took over Antah Holdings Bhd's listing status, jumped 53 per cent to close at RM1.53 on their debut on...

Wilmar share investment proceeds subject to repatriation.
March 27, 2007... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar MALAYSIAN shareholders of PPB Oil Palms Bhd who have subscribed to Wilmar International Ltd's voluntary offer of all PPB Oil Palms shares must repatriate their dividends,...

Call of the city.
March 27, 2007... (From Business Times (Malaysia)) Byline: Hamisah Hamid THE rural-urban drift has been an integral part of Malaysia's development over the years. HAMISAH HAMID looks at the factors promoting urban migration and the challenges ahead....

Cocoa output likely to rise 13pc this year.
March 27, 2007... (From Business Times (Malaysia)) Byline: Rupinder Singh MALAYSIA, Asia's largest cocoa processor, expects its cocoa output this year to rise by 13 per cent to 34,000 tonnes from 30,000 in 2006. Plantation Industries and...

Planning for a balanced development.
March 27, 2007... (From Business Times (Malaysia)) FOR developing countries like Malaysia, urbanisation has been instrumental in pushing forward the national development process. As the country reaches an advanced stage as a developing nation, the...

DiGi launches Fu-Yoh! for pre-paid customers.
March 27, 2007... (From Business Times (Malaysia)) Byline: Goh Thean Eu MOBILE operator DiGi.Com Bhd has launched a new prepaid service that will make its customers go Fu-Yoh! on low call rates and cheaper SMS and MMS prices. The new service,...

KFH's Younis wins Asian Banker leadership award.
March 27, 2007... (From Business Times (Malaysia)) KUWAIT Finance House (Malaysia) Bhd (KFH) managing director K. Salman Younis received the highest award for individual achievement in the Asia-Pacific's banking industry at this year's Asian Banker...

PNB wants to increase investments overseas.
March 27, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah PERMODALAN Nasional Bhd (PNB), the country's largest fund manager, says it plans to boost its investments in overseas markets. "(The current size of) our overseas...

Don's call to improve Islamic finance products.
March 27, 2007... (From Business Times (Malaysia)) Byline: Roziana Hamsawi MUSLIM countries should come together and provide funding for intensive research to develop Islamic finance products, as the current methodology and product ranges are still...

Malaysia assessing offshore ringgit trading.
March 27, 2007... (From Business Times (Malaysia)) Byline: Roziana Hamsawi MALAYSIA will assess the risks and rewards of having the ringgit internationalised before it makes any decision on the matter, Bank Negara Malaysia Governor Tan Sri Dr Zeti...

WCT secures RM486m Dubai airport deal.
March 27, 2007... (From Business Times (Malaysia)) Byline: Ooi Tee Ching DOHA (Qatar): WCT Engineering Bhd has clinched a RM486 million job with Arabtec Engineering Services LLC to construct drainage and sewerage facilities in the United Arab Emirates...

FTA talks with US poised to resume in mid-April.
March 27, 2007... (From Business Times (Malaysia)) Byline: Rupa Damodaran THE Malaysia-US Free Trade Agreement (FTA) talks are expected to resume in Washington in mid-April. US Trade Representative spokesman Stephen Norton, in a statement, said a...

'West Coast Highway on track'.
March 27, 2007... (From Business Times (Malaysia)) Byline: Francis Fernandez THE Cabinet is likely to discuss this week the implementation of the RM3.12 billion West Coast Highway project, sources said. The project was mooted 11 years ago,...

Prudential Unit Trusts eyes 25pc growth in fund size.
March 27, 2007... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam PRUDENTIAL Unit Trusts Bhd expects its fund size to grow by up to 25 per cent this year as it rolls out six new products. The company manages 25 funds valued at about...

Syabas awaits outcome of study on tapping underground water.
March 27, 2007... (From Business Times (Malaysia)) Byline: Rupa Damodaran PRIVATISED water operator Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) is waiting for the outcome of a study on the viability of tapping underground water to supplement water...

Maimoonah is Affin Investment Bank managing director.
March 27, 2007... (From Business Times (Malaysia)) AFFIN Investment Bank Bhd has appointed Maimoonah Mohamed Hussain as its new managing director effective yesterday. Maimoonah graduated from the University of Singapore with a Bachelor of Accountancy....

RCE Capital loans set to rise.
March 27, 2007... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah RCE Capital Bhd, a provider of personal loans to civil servants, should see its loans surge 64 per cent and 32 per cent in the years ending March 2008 and 2009 respectively, a...

Nikko Hotel to undergo extensive face lift.
March 27, 2007... (From Business Times (Malaysia)) Byline: Sharen Kaur THE five-star Nikko Hotel in Kuala Lumpur is about to undergo an extensive face lift in August this year. The 30-storey hotel with 468 rooms, which is enjoying an average...

NECCAP to increase workforce in region.
March 27, 2007... (From Business Times (Malaysia)) Byline: Audrey Dermawan NEC Computers Asia Pacific (NECCAP) will increase its head count over the next few years, primarily in areas of engineering and improving of supply chain. Without...

Creative multimedia firms clinch RM93m deals in HK.
March 27, 2007... (From Business Times (Malaysia)) A MALAYSIAN trade mission of creative multimedia companies has successfully secured deals worth RM93 million in Hong Kong. The trade mission was jointly led by the Multimedia Development Corp (MDeC),...

Casa del Rio to build hotel, suites in Malacca.
March 26, 2007... (From Business Times (Malaysia)) Byline: Vasantha Ganesan DATUK Seri Syed Yusof Syed Nasir has bought a prime piece of land by the Malacca River where he will build an international class accommodation - Casa del Rio Hotel and the...

Higher IT spending by oil & gas, agri sectors.
March 26, 2007... (From Business Times (Malaysia)) Byline: Chong Jin Hun THE combined information technology (IT) spending for Malaysia's oil and gas, and agriculture sectors is expected to rise by up to 22 per cent or US$30 million (RM105 million) to...

Philips DVD players beat the competition to grab top spot.
March 26, 2007... (From Business Times (Malaysia)) Byline: Goh Thean Eu PHILIPS Malaysia Sdn Bhd aims to strengthen its pole position in the local DVD market through its DVD players that can play almost any DVDs, strong dealership network and...

UEM Land mulls tie-ups with premier landowners.
March 26, 2007... (From Business Times (Malaysia)) Byline: Kang Siew Li UEM Land Sdn Bhd, the property unit of builder UEM World Bhd, is exploring the viability of partnering premier landowners to develop their land. Should it decide to proceed,...

MASkargo flies in F1 cars, equipment.
March 26, 2007... (From Business Times (Malaysia)) MALAYSIA Airlines began flying in F1 cars and equipment for the Formula One testing session, which will take place from March 27 to March 29. The high-performance racing cars and equipment were flown in...

KTMB freight unit on track to higher revenue.
March 26, 2007... (From Business Times (Malaysia)) Byline: Kang Siew Li NATIONAL rail operator KTM Bhd (KTMB) expects revenue from its freight unit to grow by 15 per cent this year, thanks to improved rail tracks between Padang Besar and Butterworth...