Business Times (Malaysia) articles from May 2011

Business Times (Malaysia) archives from May 2011

Earnings pinch.
May 31, 2011... Byline: Ooi Tee Ching KUALA LUMPUR: Earnings of steel millers and rubber glove makers will likely shrink in the next few months after the government raises electricity and natural gas tariffs. Yesterday, the government said electricity...

PAAB to ink Penang water revamp deal June 2.
May 31, 2011... Byline: Rupinder Singh KUALA LUMPUR: Pengurusan Aset Air Bhd (PAAB) will sign a water restructuring deal with the Penang state government on June 2, confirming a recent Business Times report. According to a media invitation, the signing...

Proton, Group Lotus to appeal court decision.
May 31, 2011... KUALA LUMPUR: Proton Holdings Bhd and its wholly-owned Group Lotus Plc will appeal to the London high court on its verdict to allow the Lotus brandname to be used by other racing teams in Formula One (F1). In a statement yesterday, Proton...

CB Industrial Product Q1 profit jumps 80pc.(Financial report)
May 31, 2011... Byline: Ooi Tee Ching SUBANG JAYA: CB Industrial Product Holding Bhd's (CBIP) first quarter profit ended March 2011 jumped 80 per cent to RM21.88 million, thanks to surging palm oil prices and the completion of more palm oil mills. Revenue...

Power, gas price hike 'a necessary evil'.
May 31, 2011... Byline: Francis Fernandez KUALA LUMPUR: The government's move to raise electricity and gas prices will slow down economic growth in the medium term, but it is a necessary evil to ensure the country's long-term competitiveness. "Cheap...

TNB sees lower profit despite new tariffs.
May 31, 2011... Byline: Hamisah Hamid KUALA LUMPUR: Despite getting a tariff hike, Tenaga Nasional Bhd (TNB) expects its profits for the current year ending August 31 2011 to be lower due to higher coal prices. TNB president and chief executive officer...

Astral Supreme-ly sure of doubling revenues.
May 31, 2011... Byline: June Ramlee KUALA LUMPUR: Astral Supreme Bhd is confident of doubling its revenue this year if it manages to secure a lucrative contract from a telecommunication company based in Germany to supply printed circuit boards. Chief...

SMEs in NCER to benefit from contract manufacturing.
May 31, 2011... Byline: Rupa Damodaran SAN JOSE (California): Contract manufacturing is big business, providing immense spin-offs for the local small and medium enterprises (SMEs) in both commercial agriculture as well as hi-tech industries in Malaysia's...

Boustead, Prokhas in propellant plant deal.
May 31, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC), together with its joint venture partner Prokhas Manager Sdn Bhd, will set up a RM58 million plant to make propellants for the country's armed forces sector as...

More vroom in BMW bike sales.
May 31, 2011... Byline: Arman Ahmad SHAH ALAM: BMW Group Malaysia aims to sell at least 300 premium motorcycles this year with the launch of two new models last week. Speaking to reporters after the launch of the BMW K1600GT and BMW K1600GTL at its...

TIME profit soars to RM22.9m.(Financial report)
May 31, 2011... KUALA LUMPUR: TIME dotCom Bhd registered a 22 per cent jump in net profit to RM22.9 million for the first three months ended March 30, against RM18.8 million in the previous corresponding quarter. In a statement yesterday, the company...

Brief consolidation likely.
May 31, 2011... Byline: S.N. Lock AGAINST the backdrop of mixed performances on the regional stock markets on May 30, overall market sentiment on Bursa Malaysia weakened yesterday. Overall declining counters outpaced advancing counters by 518 to 242. ...

Mexpa targets more SMEs for Viet trade mission.
May 31, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: Malaysian Exporters Association (Mexpa) is targeting more small and medium entrepreneurs (SMEs) to participate in the association's trade mission to Vietnam. The objective is to help Malaysian...

Analabs unit selling warehouse.
May 31, 2011... WATER treatment plant and environmental engineering service group, Analabs Resources Bhd, via its subsidiary Inagro Sdn Bhd, is selling its warehouse located in Shah Alam for RM7.5 million. The disposal is expected to generate a net gain of...

Forum opens up new opportunities.
May 31, 2011... SINCE its inaugural forum in Malaysia in 2005, the World Islamic Economic Forum (WIEF) has been acknowledged internationally as an important gathering for world leaders and top chief executive officers, attracting thousands of participants,...

VTI Vintage to sell land for RM2.15m.
May 31, 2011... TILES manufacturer VTI Vintage Bhd has proposed to sell its land for RM2.15 million. It will call for an extraordinary general meeting to get shareholders' approval soon, VTI said. VTI also said that its subsidiary group Vintage Roofing &...

Food security in a globalised world.
May 31, 2011... Byline: Tun Musa Hitam THE problem of food security is once again rearing its head as food prices increase very soon after the last spike in 2008. The latest Food Price Watch published by the World Bank confirmed that food prices rose by...

AirAsia takes clear lead over MAS.
May 30, 2011... Byline: Goh Thean Eu AIRASIA Bhd's market capitalisation (cap) is now almost 80 per cent bigger than the national carrier Malaysian Airline System Bhd (MAS). It was only less than a year ago when AirAsia's market cap reached parity with...

Nadicorp hopeful of fertile returns from plantations.
May 30, 2011... Byline: Sharen Kaur KUALA LUMPUR: Diversified Nadicorp Holdings Sdn Bhd hopes to rake in between RM40 million and RM50 million in net profit this year from its plantation business, which has received a boost from high crude oil price, its...

Making way for Gen Y.
May 30, 2011... Byline: Hamisah Hamid BESIDES subsidies cut, tariff hikes and general election, another buzzword in Malaysia today is Generation Y. Gen Y, which refers to those born after 1980, is currently the focus of the government, employers,...

Bina Puri bids for RM400m Negri job.
May 30, 2011... Byline: Sharen Kaur KUALA LUMPUR: Bina Puri Holdings Bhd has bid for a contract worth over RM400 million for associated civil works to extend a 1,000MW power plant in Negri Sembilan. In an interview with Business Times, group managing...

Stock market expected to be quiet this week.
May 30, 2011... Byline: Adeline Paul Raj THE local stock market is expected to be quiet this week with the key index on a slight upward bias, ahead of some big listings soon. "Generally, the market will be quite quiet this week. Volumes are expected to...

Bells are not ringing, for now.
May 30, 2011... Byline: Shahriman Johari IT APPEARS to be a marriage that was not meant to be. BIMB Holdings Bhd, parent of Bank Islam, has decided against pursuing a merger with smaller rival Bank Muamalat. It cited Bank Islam's strategic plans and...

BSMART plans listing.
May 30, 2011... Byline: Presenna Nambiar KUALA LUMPUR: Information and communications technology company BSMART Technology Sdn Bhd plans to list on the local stock exchange, to raise funds for new business ventures. The company expects to finalise its...

Firm shortlisted for Mecca project.
May 30, 2011... Byline: Roziana Hamsawi KUALA LUMPUR: Engineering services provider AWC Bhd has been shortlisted as one of the two contenders to build the third expansion of the holy mosque, Masjidil Haram in Mecca, Saudi Arabia. The company had tendered...

AWC does not expect another bumper year.
May 30, 2011... Byline: Roziana Hamsawi KUALA LUMPUR: Engineering services and integrated facility management provider AWC Bhd, whose earnings rose by more than 400 per cent in the last financial year, does not expect such skyrocketing repeat this current...

Prestariang gets SC nod to list on Main Market.
May 30, 2011... IN OUR article titled "Green light for listing" on Saturday, the first paragraph should have read "Prestariang Bhd has received approval from the Securities Commission Malaysia to list on Bursa Malaysia's Main Market" and not as published. The...

Lundin to spend RM181m on new drillings this year.
May 30, 2011... Byline: Kamarul Yunus KUALA LUMPUR: Lundin Petroleum, a Swedish petroleum company, expects to spend about US$60 million (RM181 million) to drill at least five exploration wells at its oil and gas blocks offshore Peninsular Malaysia and Sabah...

Oil & Gas Asia 2011 expected to close RM1.5b deals.
May 30, 2011... KUALA LUMPUR: The 13th Asian Oil, Gas & Petrochemical Exhibition (OGA 2011) is expected to close some RM1.5 billion business deals during its three-day show. Scheduled to take place on Wednesday to Friday at the Kuala Lumpur Convention...

Gulf Petroleum signs deals for RM17b hub.
May 30, 2011... KUALA LUMPUR: Qatar-based Gulf Petroleum (M) Sdn Bhd (GPLM) has signed agreements with consortium groups from China, Hong Kong and India to jointly develop its RM17 billion integrated oil and gas complex in Port Dickson. Marmagoa Steel Ltd...

Apec to adopt ethics codes for SMEs in 3 sectors.
May 30, 2011... Byline: Rupa Damodaran KUALA LUMPUR: Small and medium enterprises (SMEs) from the 21 Asia-Pacific Economic Cooperation (Apec) economies will have to adhere to soon-to-be-set-up codes of ethics for the healthcare, construction and...

Work together to jump start green businesses, says SLG head.
May 30, 2011... Byline: Rupa Damodaran KUALA LUMPUR: The Asia-Pacific Economic Cooperation (Apec) countries can work with Malaysia's small and medium companies (SMEs) to jump start "green" businesses. Agil Faisal Ahmad Fadzil, who is group managing...

When developing a luxury resort is a hobby.
May 30, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: Cardiologist Dr N.S. Dhaliwal has ventured into a hobby which most people would call a business. Sixty-five-year-old Dr Dhaliwal has decided to turn his passion for building houses into a project. ...

Global Carriers says Indonesia a key market.
May 30, 2011... Byline: Presenna Nambiar KUALA LUMPUR: Global Carriers Bhd's plan to set up a joint venture in Indonesia is a move by the company to continue to take part in the shipping industry there. Indonesia, in 2008, passed a law to enact a cabotage...

Follow-through rebound in the works.
May 30, 2011... Byline: S.N. Lock AFTER a weak start to the week just ended, sentiment on the local stock market improved over the last four trading days, enabling the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to stage a technical rebound,...

FBM KLCI futures to lose steam.
May 30, 2011... Byline: Bernard THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures May contract on Bursa Malaysia Derivatives closed higher at 1,548 with an open interest of 15,411 contracts last week. The May contract touched a high...

Blue chips to take centre stage.
May 30, 2011... Byline: Kaladher Govindan THE local stock market bounced back from a sell-off early last week, triggered by concern the eurozone sovereign debt contagion would adversely impact global economic growth, as a rebound in commodity prices...

DRB-HICOM gets more time.
May 28, 2011... Byline: Adeline Paul Raj SHAH ALAM: Conglomerate DRB-HICOM Bhd said the central bank has given it until mid-2012 to pare its 70 per cent stake in Islamic lender Bank Muamalat Malaysia Bhd. "BNM (Bank Negara Malaysia) has given us...

Sime Darby exits oil & gas business.
May 28, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: Sime Darby Bhd is exiting the oil and gas business, selling the related assets to Pe-troliam Nasional Bhd and its recently-listed unit Malaysia Marine and Heavy Engineering Holdings Bhd for a combined...

Glenmarie plans RM1b projects over next 5 years.
May 28, 2011... Byline: Adeline Paul Raj SHAH ALAM: DRB-HICOM Bhd's property subsidiary, Glenmarie Properties Sdn Bhd (GPSB), aims to launch projects with a total gross development value (GDV) of about RM1 billion over the next five years. "We're going to...

Springing to life in June.
May 28, 2011... Byline: Francis Fernandez THE bulls most certainly have lost their mojo in May, but they will be inching for some payback time come next month. May has been a lacklustre month. Many will be happy to see the back of this month, except for...

Analysts trim KNM forecast but upbeat on prospects.
May 28, 2011... Byline: Sharen Kaur KUALA LUMPUR: Analysts have trimmed their net profit forecast for oil and gas process equipment maker KNM Group Bhd, although they are upbeat on its prospects. They are concerned about KNM's legacy contracts that are...

Samchem to focus on foreign ops.
May 28, 2011... Byline: June Ramlee SHAH ALAM: Samchem Holdings Bhd, an industrial chemicals distributor, will strengthen its distribution network overseas and foresees the operations contributing to least 50 of the group's revenue in the next two years. ...

Luxchem to diversify product range.
May 28, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: Luxchem Corp Bhd, an industrial chemical supplier, expects to post a 10 per cent growth in revenue and net profit this year. Managing director and chief executive officer, Tang Ying See said the...

TNB shares end week higher after choppy ride.
May 28, 2011... KUALA LUMPUR: Tenaga Nasional Bhd (TNB) ended its roller-coaster week on the local bourse on a positive note after its shares closed 28 sen higher yesterday. Analysts agreed that one of the key reasons for the swing is the speculation on...

Mustapa: We must cut subsidies to boost finances.
May 28, 2011... Byline: Ooi Tee Ching SHAH ALAM: The government has to reduce fuel subsidies to strengthen its finances, Minister of International Trade and Industry (Miti) Datuk Seri Mustapa Mohamed said. Manufacturers are expected to suffer the biggest...

Ministry responds to AirAsia CEO's comment.
May 28, 2011... KUALA LUMPUR: The Ministry of Transport (MOT) has hit back at AirAsia Bhd chief executive officer Datuk Seri Tony Fernandes' statement on Thursday. In a statement issued yesterday, the ministry said it has approved AirAsia X's applications to...

Transmile in talks with investors on reviving restructuring plan.
May 28, 2011... SUBANG JAYA: Transmile Group Bhd says it is in talks with several investors to help revive its restructuring plan. "Our restructuring plan is stalled at the moment because of the lawsuits flying around. If they (the banks) have agreed to...

RM4m for second workshop in Malaysia.
May 28, 2011... KUALA LUMPUR: Turbo-Mech Bhd, a regional distributor of rotating equipment for the oil, gas and petrochemical industries, plans to open its second workshop in the country within the next one year. The company, with some RM40 million in cash...

Volkswagen to expand dealer network.
May 28, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: Volkswagen Group Malaysia (VGM) plans to further expand its dealer network in the country as part of its growth strategy. Sales director Daniel Tan said one of the ways is to encourage partnerships...

CCM secures loan.
May 28, 2011... CHEMICAL Company of Malaysia Bhd has signed an agreement with MIDF Amanah Investment Bhd for a bridging loan of up to RM120 million. CCM said the loan is to part-finance its upcoming RM150 million finance service reserve account commitment in...

OSK Q1 net profit up.(Financial report)
May 28, 2011... OSK Q1 net profit up OSK Holdings Bhd's net profit rose to RM46.6 million in the first quarter ended March 2011 from RM32.2 million a year ago. This was due to improved business conditions in equities and futures broking, investment banking and...

Green light for listing.
May 28, 2011... PRESTARIANG Bhd has received approval from the Securities Commission Malaysia to list on Bursa Malaysia's Ace Market. Prestariang is a company with Multimedia Super Corridor status and is primarily involved in ICT training and certification as...

Firm clarifies status.
May 28, 2011... PREMIUM Nutrients Bhd has clarified that it would be a cash company upon completion of the disposal of its palm oil refinery complex and other downstream businesses. In this case, it will fall within the ambit of PN16 of listing requirement of...

UOA sets IPO prices.
May 28, 2011... UOA Development Bhd has set the institutional and retail prices of its initial public offering (IPO) at RM2.60 and RM2.52 per share respectively. This helps the company to raise RM1.05 billion in the largest IPO in Southeast Asia so far this...

Pick-up in rating activities, says RAM.
May 28, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: More corporations have been tapping the bond market this year compared with the last two years, according to domestic credit rating agency RAM Rating Services Bhd (RAM Ratings). Chief executive...

Firm sentiment.
May 28, 2011... Byline: S.N. Lock OVERALL market sentiment remained firm over the last four trading days of the week just ended. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) managed to recoup the loss of 12.05 points suffered on Monday with its gains...

Nadicorp mulls recond car imports.
May 27, 2011... Byline: Sharen Kaur KUALA LUMPUR: Nadicorp Holdings Sdn Bhd executive chairman Datuk Seri Mohd Nadzmi Mohd Salleh is considering selling imported cars or luxury reconditioned (recond) automobiles in Malaysia. Nadzmi told Business Times in...

Aeon targets RM45b Asean sales by 2020.
May 27, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: Japan's Aeon Co Ltd, which is in the process of setting up its Asean headquarters here, hopes to see the region contribute RM45 billion in sales to the group by 2020. Nagahisa Oyama, vice-president...

MIDF raises earnings forecast for UMW.
May 27, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: UMW Holdings Bhd has seen its earnings forecast upgraded by MIDF Research after the automotive-to-oil-and-gas group announced sound interim results. The research firm has raised UMW's earnings...

Sushi King to be halal-compliant.
May 27, 2011... Byline: Marina Emmanuel GEORGE TOWN: Texchem Resources Bhd is looking at making its Sushi King chain of restaurants as the world's first halal Japanese eatery by next year. Chairman and chief executive officer Tan Sri Fumihiko Konishi said...

CEO: Malaysia will lose out by holding back routes.
May 27, 2011... Byline: Roziana Hamsawi KUALA LUMPUR: AirAsia's chief executive officer hopes that the Transport Ministry will be more accommodative on its request for new route rights, following Singapore Airlines' announcement that it is launching a new...

Aeon targets 100 stores of varied formats.
May 27, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: Aeon Co (M) Bhd targets to open 100 stores of varied formats in Malaysia by 2020 including the possibility of a hypermarket model. The Japanese-controlled retailer, that now operates 27 stores - the...

Nur Qamarina to head group's retail ops here.
May 27, 2011... KUALA LUMPUR: Aeon Co Ltd has appointed its first female managing director outside of Japan in Malaysia. Nur Qamarina Chew Abdullah has been appointed as managing director of Aeon Co (M) Bhd with effect from yesterday. Nur Qamarina, who is...

Ann Joo eyes steel firms in Southeast Asia.
May 27, 2011... Byline: June Ramlee KUALA LUMPUR: Ann Joo Resources Bhd is looking to buy steel companies in Southeast Asia, which has similar synergies towards its businesses. Its group managing direc-tor Datuk Lim Hong Thye said the company is scouting...

Tan allays car dealers' concerns on new Act.
May 27, 2011... Byline: Goh Thean Eu PUTRAJAYA: The new Hire Purchase Act 1967 (Amendment 2010) will not lead to major delays in car inspection, Deputy Minister of Domestic Trade, Cooperatives and Consumerism Datuk Tan Lian Hoe said. The Act will be...

Malaysian to helm Intel ops in Penang, Kulim.
May 27, 2011... Byline: Marina Emmanuel GEORGE TOWN: The world's biggest chipmaker Intel Corp is set to see its operations in Penang and Kulim helmed by a Malaysian soon. Business Times has learnt that Penang-born Robin A. Martin, vice-president of the...

'No bailout element in takeover of Selangor water bonds'.
May 27, 2011... KUALA LUMPUR: The federal go-vernment has stressed that there is no "bailout" element in its offer to take over Selangor water bonds via a special-purpose vehicle, Acqua SPV Bhd. Energy, Green Technology and Water Minister Datuk Seri Peter...

Genting's results more than triple in Q1.(Financial report)
May 27, 2011... KUALA LUMPUR: Genting Bhd's net profit in the first quarter ended March 31 more than tripled to RM824.1 million from RM232.4 million a year ago. The group yesterday said revenue climbed 57 per cent to RM4.9 billion from RM3.1 billion. Its...

DRB-HICOM profit breaches RM700m.
May 27, 2011... KUALA LUMPUR: DRB-HICOM Bhd's group pre-tax profit for the year ended March 31 this year breached the RM700 million mark, while revenue rose 7.8 per cent to RM6.8 billion from RM6.3 billion. DRB-HICOM expects to grow further in the current...

Offer to Titisan water bondholders.
May 27, 2011... KUMPULAN Perangsang Selangor Bhd said that its 55 per cent owned subsidairy Titisan Modal (M) Sdn Bhd had been notified on May 20 that the federal government's special purpose vehicle had made an offer to Titisan's water bondholders. This...

KNM wins US$71.6m Lukoil contract.
May 27, 2011... KNM Group Bhd has won a US$71.63 million (RM218.18 million) contract in Uzbekistan from Lukoil Uzbekistan Operating Company, it said in a statement to the stock exchange yesterday. The company said that the contract is for the development of...

YTL Corp records RM482m net profit in Q3.(Financial report)
May 27, 2011... KUALA LUMPUR: YTL Corp Bhd has recorded a net profit of RM482.29 million in the third quarter ended March 31 2011, compared to RM521.47 million in the same quarter in the previous financial year. This was mainly due to a one-off fee income...

Price trend may stage follow-through rebound.
May 27, 2011... Byline: S.N. Lock Overall market sentiment on Bursa Malaysia improved considerably yesterday. Advancers outpaced decliners by 417 to 322. The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rebounded from its intra-day low of...

Playing it safe with Islamic banking.
May 27, 2011... Byline: Tun Musa Hitam I JOKE about this but it seems that even the most un-Islamic people want to involve themselves in Islamic banking. Every major city wants to be the centre of Islamic banking. London wants to be the centre, Tokyo wants...

Fajarbaru JV buying Penang land for RM200m.
May 26, 2011... Byline: Sharen Kaur KUALA LUMPUR: A joint venture (JV) between Fajarbaru Builder Group Bhd and Sagajuta (Sabah) Sdn Bhd is on the verge of buying 44ha of land in Balik Pulau, Penang, via a private tender, people familiar with the matter said...

Petronas unit eyes top spot in petrol retail mart.
May 26, 2011... Byline: Goh Thean Eu KUALA LUMPUR: Petronas Dagangan Bhd (PDB) expects to invest up to RM2 billion over the next five years to set up as many as 250 petrol stations, as it aims to become the number one player in the petrol retail segment...

Proton plans record RM1.6b investment.
May 26, 2011... Byline: Presenna Nambiar SHAH ALAM: Proton Holdings Bhd will spend a record RM1.6 billion on "investing for the future" in the current financial year ending March 31 2012. The group yesterday announced sterling fourth-quarter results, with...

CIMB nets RM916.5m in Q1.
May 26, 2011... KUALA LUMPUR: CIMB Group Holdings Bhd says its net profit in the first quarter ended March 2011 grows 9.4 per cent to RM916.5 million from RM838.0 million a year ago. CIMB, Malaysia's second-largest banking group, also said it had postponed...

Premium Nutrients to sell palm oil downstream business.
May 26, 2011... Byline: Ooi Tee Ching KUALA LUMPUR: Shareholders of Premium Nutrients Bhd approved the sale of its flagship refinery and specialty fats business to Sri Lankan Carson group for RM117.95 million. The disposal may turn Premium Nutrients into...

MAS targets up to RM600m profit despite Q1 loss.(Financial report)
May 26, 2011... Byline: Ooi Tee Ching PETALING JAYA: Malaysian Airline System Bhd (MAS) has reaffirmed its operating profit target of RM300 million to RM600 million this year, despite having posted nearly RM250 million net loss in the first quarter. This...

MyCEB wins bids for 25 global conventions.
May 26, 2011... KUALA LUMPUR: The Malaysia Convention and Exhibition Bureau (MyCEB), in partnership with its affiliates, has won bids for over 25 international and regional conventions, which are expected to generate more than RM430 million income for Malaysia...

Philippines deal to boost RGB revenue.
May 26, 2011... Byline: Marina Emmanuel GEORGE TOWN: Electronic gaming machines and casino equipment supplier RGB International Bhd is looking to the Phi-lippines to help broaden its revenue base this year. Citing investor-friendly policies by the...

Coupon Houz aims to Net more members.
May 26, 2011... Byline: Cheryl Yvonne Achu SUBANG JAYA: Coupon Houz Sdn Bhd expects its membership base to grow to 500,000 members from the current 100 with its newly-launched online coupon distribution website, CouponHouz.com. Its chief operating officer...