Business Times (Malaysia) articles from November 2011

Business Times (Malaysia) archives from November 2011

Influx of foreign direct investment.
November 29, 2011... Byline: Rupinder Singh KUALA LUMPUR: MALAYSIA'S foreign direct investment (FDI) for the first nine months this year jumped 42 per cent from a year ago and the fullyear number is set to be better than 2010. FDI for the nine-month period was...

Australia's ROC eyes more projects here.
November 29, 2011... Byline: Kamarul Yunus KUALA LUMPUR: Australia's ROC Oil Co Ltd is keen to bid for more Malaysian projects after clinching a deal to develop the Balai cluster marginal oilfield, offshore Sarawak, with partners Dialog Group Bhd and Petronas...

Cross-border banking pact.
November 29, 2011... KUALA LUMPUR: The central banks of Malaysia and Singapore have inked a memorandum of understanding to establish a cross-border collateral arrangement aimed at enhancing liquidity facilities to banks in both countries. Under the agreement,...

Teliti in green data centre project.
November 29, 2011... Byline: Kamarul Yunus KUALA LUMPUR: AIM-listed Teliti International (Teliti) is building a world-class green data centre at the Bandar Enstek Teknology Park in Selangor. With an ultimate capacity of 120,000 sq ft, the centre would be...

UEM Land sets RM3b sales target.
November 29, 2011... Byline: Sharen Kaur KUALA LUMPUR: UEM Land Holdings Bhd, the country's biggest property player by market capitalisation, aims to sell RM3 billion worth of properties next year, an increase of 40 per cent from this year. Managing director...

Malaysia to see RM500m biotech investments.
November 29, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR: MALAYSIA, which aspires to become one of the world's biotechnology hubs, is set to see RM500 milllion in investments by the second half of next year. Malaysian Biotechnology Corp Sdn Bhd chief...

Employees give their bosses a 'pass'.
November 29, 2011... Byline: Rupinder Singh KUALA LUMPUR: LESS than half of Malaysian employees think that their bosses have done a good job in preparing them for future success, according to a survey results from global workforce solutions leader, Kelly...

Palm tocotrienols under scope.
November 29, 2011... HERE'S an interesting fact about vitamin E. It comes from palm oil and its Western counterparts namely soya, canola and sunflower. But it is the ones that come from soyaoil and canola, known as tocopherols, that are the most commonly...

Reducing the threat of inflation.
November 29, 2011... Byline: Rupa Damodaran KUALA LUMPUR: IT will be tough for the government to cut subsidies and at the same time maintain Malaysia's low and stable price environment. Inflation has been low despite the recent food and oil price shocks,...

Advertise via social media, SMEs urged.
November 29, 2011... Byline: June Ramlee KUALA LUMPUR: Malaysian companies need not spend big bucks on advertisements, thanks to the emergence of various social media networks which allow people to advertise products for free. Millward Brown country manager...

Glittering prospects for precious metals.
November 29, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: WHILE trying to find the best investment opportunities for their clients, major financial experts are looking at the commodity markets with a specific eye on precious metals. Gold and silver have...

China: Risks in perspective.
November 29, 2011... Byline: Gerard Lyons ONE of the key questions being asked about the world economy is whether China will have a hard or a soft landing? Although no part of the world is totally immune to what happens in Europe, events in China are more...

EPF's global push for higher returns.
November 28, 2011... Byline: Rupa Damodaran KUALA LUMPUR: The Employees Provident Fund (EPF), ranked among the biggest pension funds in the world, aims to invest a fifth of its assets abroad by 2014. This means that it could invest another RM55 billion in...

Colas Rail tracking high-speed train project.
November 28, 2011... Byline: Sharen Kaur KUALA LUMPUR French group Colas Rail, the recent winner for part of a light rail extension work, plans to bid for the high-speed rail project linking Kuala Lumpur and Singapore. "We constructed almost half of all the...

Tan brothers look to 'conquer' Penang.
November 28, 2011... Byline: Marina Emmanuel KUALA LUMPUR: For a while now, there has been speculation about who would partner Ivory Properties Bhd in its multi-billion ringgit Bayan Mutiara project in Penang. That was ended when it roped in Dijaya Corp Bhd....

Seagate confident of generating growth.
November 28, 2011... Byline: Zaidi Isham Ismail PETALING JAYA: External hard drive maker Seagate is optimistic on its future growth, in line with a strong demand for more storage capacity around the world. Seagate senior vice-president and managing director...

Further downtrend expected.
November 28, 2011... Byline: Presenna Nambiar THE local stock market is expected to continue its downtrend in the coming four-day week as the reporting season comes to a close without any major surprises. The stock market is closed today because of the public...

techpark@enstek expects to draw more foreign biotech firms.
November 28, 2011... KUALA LUMPUR: TH Properties Sdn Bhd expects more foreign biotechnology companies seeking expansion to set up shop at techpark@enstek in Sepang, Selangor. techpark@enstek is the biotech hub at Bandar Enstek, TH Properties's ongoing 2,046ha...

TH Properties hungry for more infrastructure jobs.
November 28, 2011... Byline: Sharen Kaur KUALA LUMPUR: TH Properties Sdn Bhd, the property arm of pilgrims fund management institution Lembaga Tabung Haji, will take on more infrastructure projects in Malaysia to expand the company. Group managing director and...

US' Quintiles wants to partner Malaysian biotech companies.
November 28, 2011... Byline: Roziana Hamsawi KUALA LUMPUR: US-based biopharmaceutical services company Quintiles, which has been present in Malaysia since 1998, sees tremendous opportunities in the biotech sector. Its head of Asian markets, Anand Tharmaratnam,...

Unitrack sets out export ambitions.
November 28, 2011... Byline: Cheryl Yvonne Achu KUALA LUMPUR: Unitrack Equipment (M) Sdn Bhd, distributor of handling equipment, plans to penetrate the export markets to further strengthen its business. The company is currently eyeing several countries in the...

CMC in talks with Thales.
November 28, 2011... Byline: Sharen Kaur KUALA LUMPUR: CMC Engineering Sdn Bhd, an engineering, procurement and construction contractor, is in talks with France-based Thales Group and other foreign railway experts to jointly bid for railway jobs in Malaysia. ...

Partners eye more rail deals under ETP.
November 28, 2011... Byline: Sharen Kaur Kuala Lumpur COLAS Rail and its local partner CMC Engineering Sdn Bhd plan to bid for new railway contracts under the Economic Transformation Programme (ETP). They have bid for the electro-mechanical (E&M) system...

Investing offshore for added diversification.
November 28, 2011... DIVERSIFICATION is an investment principle that seeks to reduce risks by investing in a wide range of investments and asset classes. In this article, we show how unit trust investors can diversify their investments with offshore equity funds...

Supermax to stage follow-through rebound.
November 28, 2011... Byline: S.N. Lock SENTIMENT on Bursa Malaysia remained weak last week, tracking the bearish tone on the New York and Asian stock markets. The market's blue-chip barometer, the FTSE Bursa Malaysia Kuala Lumpur Composite Index(FBM KLCI),...

Further consolidation in near term.
November 28, 2011... Byline: Oleh Kaladher Govindan BLUE chips extended their slump for a fourth week in volatile trade as investors shunned the local stock market due to worries over further downside volatility in global markets. The lower-than-expected US third...

Panasonic in RM1.8b solar cell venture.
November 26, 2011... Byline: June Ramlee KUALA LUMPUR: PANASONIC Corp plans to invest 45 billion yen (about RM1.8 billion) to build a solar cell factory in Malaysia. The Osaka-based electronics giant will set up Panasonic Energy Malaysia Sdn Bhd next month to...

'Good public governance will see us through the tough times'.
November 26, 2011... Byline: Rupa Damodaran KUALA LUMPUR: Malaysia, armed with the experience from two earlier global financial crises, can fall back on its "dossier of possible causes" to prevent another crisis from affecting the real economy, said a former...

Khazanah plans to list healthcare outfit next year.
November 26, 2011... Byline: Vasantha Ganesan KUALA LUMPUR: Khazanah Nasional Bhd plans to list its healthcare outfit Integrated Healthcare Sdn Bhd next year. "God willing, the listing will be next year," Khazanah managing director Tan Sri Azman Mokhtar said...

Pensonic on the prowl for M&As.
November 26, 2011... Byline: Marina Emmanuel GEORGETOWN: PENSONIC Holdings Bhd is looking at mergers and acquisitions to grow its business locally and globally. Pensonic chief executive officer and group managing director Dixon Chew said local and foreign...

MISC stock's rating not affected.
November 26, 2011... Byline: Rupinder Singh KUALA LUMPUR: MISC Holdings Bhd's exit from the liner business is a positive move to cut losses, but the stock is unlikely to see any re-rating soon, analysts said. RHB Research Institute Sdn Bhd views the move...

Hamidy is new chairman of Credit Guarantee Corp.
November 26, 2011... KUALA LUMPUR: Credit Guarantee Corp Malaysia Bhd (CGC) has appointed Datuk Seri Abdul Hamidy Abdul Hafiz as its new chairman effective November 22. Hamidy has vast experience in the commercial and finance banking, investment banking and...

Panasonic Q2 pre-tax profit dips to RM48m.(Financial report)
November 26, 2011... Byline: June Ramlee KUALA LUMPUR: Panasonic Manufacturing Malaysia Bhd's pre-tax profit in the second quarter ended September 30 2011 eased 8.9 per cent to RM48.1 million from RM52.8 million a year ago. Group revenue, however, rose 9.1 per...

EMT to make drones in Malaysia.
November 26, 2011... KUALA LUMPUR: GERMAN aviation firm EMT plans to manufacture Unmanned Aerial Vehicles (UAVs) or drones in Malaysia by June next year via a local partner. EMT has roped in Drei Sohne Technologies (Deutschland) Sdn Bhd (DST) as its sole Asian...

New Myvi 1.3 hits shores of Mauritius.
November 26, 2011... KUALA LUMPUR: PERUSAHAAN Otomobil Nasional Kedua Sdn Bhd (Perodua) has made its maiden export of the new Myvi 1.3-litre model to Mauritius to strengthen its presence in overseas markets. "Perodua will export 20,000 units by 2015 from an...

Bursa remains in consolidation mode.
November 26, 2011... Byline: S.N. Lock CONTINUING consolidations on Bursa Malaysia sent share prices trending lower this week, in step with the New York Stock Exchange and Asian stock markets. The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM...

Proton boosts presence in Indonesia.
November 26, 2011... KUALA LUMPUR: PROTON Holdings Bhd has launched its first Platinum showroom in Medan, Indonesia, to strengthen its presence in one of the national carmaker's growing markets in the region. The all-new sales, service and spare parts (3S)...

Airport tax saga continues.
November 25, 2011... Byline: Presenna Nambiar KUALA LUMPUR AirAsia Bhd has backtracked on an earlier statement which stressed it will not adhere to Malaysia Airports Holdings Bhd (MAHB)'s recent airport tax hike. A post on its official Facebook fan page late...

MISC exits container shipping business.
November 25, 2011... Byline: Rupinder Singh KUALA LUMPUR: MISC Bhd, the world's largest owner-operator of liquefied natural gas tankers, has decided to quit the container shipping business due to difficult operating conditions. "The company's decision to exit...

SP Setia denies London deal.
November 25, 2011... KUALA LUMPUR: Property developer SP Setia Bhd rebuffed claims that it has agreed terms with Irish group Real Estate Opportunities to take control of London's landmark Battersea Power Station and fund a RM27.2 billion redevelopment of the site....

Look beyond Iskandar, S'pore firms told.
November 25, 2011... Byline: Rupa Damodaran SINGAPORE: Singaporean investors should look beyond Iskandar Malaysia for business opportunities, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. "Johor has been receiving a lot of...

Dialog eyes Petronas brownfield projects.
November 25, 2011... Byline: Zaidi Isham Ismail PETALING JAYA: Dialog Group Bhd, an integrated specialist technical services provider to the oil and gas sector, is bidding for several projects under Petroliam Nasional Bhd's (Petronas) brownfields in Malaysia. ...

Maybank IB reveals ambitions.
November 25, 2011... Byline: Roziana Hamsawi SINGAPORE: Maybank Investment Bank (Maybank IB), in its aim to be an Asean premier financial player by 2015, wants to see a close to 20-fold growth in its asset management business in five years by managing assets...

Hwang-DBS: No merger scheme.
November 25, 2011... KUALA LUMPUR: HWANG-DBS (M) Bhd yesterday dismissed media reports of a merger scheme with Alliance Financial Group Bhd (AFG). "This is speculative and we have nothing to comment. "So far the board has not deliberated on the possibility of...

TM's Q3 net profit down.(Financial report)
November 25, 2011... KUALA LUMPUR TELEKOM Malaysia Bhd (TM), the country's largest fixed-line phone company, yesterday said its latest quarter's net profit fell by 31 per cent to RM302 million, mainly due to unrealised foreign exchange loss on borrowings. ...

7.25m shares traded off mart for total of RM4.15m.
November 25, 2011... Byline: Goh Thean Eu KUALA LUMPUR About seven per cent of Biosis Group Bhd changed hands in the off market yesterday, at a premium to its closing price. A quick check by Business Times revealed that some 7.25 million Biosis shares, which...

Enough projects to ensure economy remains favourable.
November 25, 2011... Byline: Zurinna Raja Adam KUALA LUMPUR There are enough public and private projects to ensure the country's economy remains favourable over the next few years. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said, next year, the...

Another Sarawak investor for Perdana Petroleum.
November 25, 2011... KUALA LUMPUR PERDANA Petroleum Bhd has got another Sarawakian investor in Dayang Enterprise Holdings Bhd, barely a week after Sarawakian Tiong Chiong Hiiung bought 8.15 per cent stake in the oil and gas services provider. In a statement...

Hiap Teck clarification.
November 25, 2011... IN our report yesterday entitled "Hiap Teck to be Asean's only steel slab producer", the person in the picture is not Hiap Teck Venture Bhd executive director Low Choong Sing. The company also clarified that its steel complex in Kemaman is...

Credit counselling agency to target households next.
November 25, 2011... Byline: Goh Thean Eu KUALA LUMPUR: Credit Counselling and Debt Management Agency (AKPK) will launch a programme aimed at creating debt management awareness among households. The programme, which will be an expansion to its popular Power!...

Global recovery will be weak and bumpy, says Nor Mohamed.
November 25, 2011... Byline: June Ramlee KUALA LUMPUR: The global economic recovery is likely to stay weak and bumpy with a higher probability that things could get worse. Minister in the Prime Minister's Department in charge of the Economic Planning Unit, Tan...

Local freight forwarders to stop container deposits Dec 1.
November 24, 2011... Byline: Presenna Nambiar PORT KLANG: Local freight forwarders will soon stop placing deposits on behalf of shipping lines for the handling of containers, a move that may lead to slower trade movements, and thus affect the country's...

Management structure in place.
November 24, 2011... Byline: Zuraimi Abdullah SAPURACREST Petroleum Bhd executive vice-chairman and president Datuk Seri Shahril Shamsuddin will be group president and chief executive officer (CEO) of the new merged entity between the company and Kencana...

Ong takes over short-haul operations.
November 24, 2011... GEORGE TOWN: Malaysia Airlines (MAS) has named its regional senior vice-president for Australia, New Zealand and South West Pacific, Ignatius Ong Ming Choy, as the new chief operating officer (COO) of its short-haul operations effective December...

'Small blow to MAS'.
November 24, 2011... Byline: Presenna Nambiar KUALA LUMPUR ANALYSTS see the departure of Firefly managing director Datuk Eddy Leong as a minor scrape to already bleeding Malaysia Airlines (MAS). "I don't see how it will affect the future business plan for MAS....

KLK's Q4 net earnings jump 48pc on asset sale.(Financial report)
November 24, 2011... KUALA LUMPUR KUALA Lumpur Kepong Bhd (KLK) says its fourth-quarter net profit jumped 48 per cent, due mainly to gains from an asset sale and it has bumped up dividends. The plantation group reported a net profit of RM460.6 million for the...

US$100m fund to assist biotech start-up firms.
November 24, 2011... Byline: Zurinna Raja Adam KUALA LUMPUR THE biotech sector is set to receive another US$100 million (RM318 million) under the Biotech Venture Capital Fund that can be tapped by both local and international players wanting to set up a base in...

18pc firms yet to response to census.
November 24, 2011... Byline: Roziana Hamsawi PUTRAJAYA SLIGHTLY less than 170,000, or 18 per cent, of companies have yet to respond to Malaysia's third economic census, which is conducted every five years and is due for completion by the end of this year. The...

Petronas Dagangan profit surges.
November 24, 2011... KUALA LUMPUR PETRONAS Dagangan Bhd (PDB), which markets petroleum products and operates service stations, posted an 8.5 per cent increase in pre-tax profit to RM300.4 million for the second quarter to September 2011, up from RM284.25 million a...

MyLED investing RM175m on factory upgrade.
November 24, 2011... PUTRAJAYA: Malacca-based MyLED Group is investing RM175 million to upgrade its factory to churn out light-emitting diodes (LEDs). "From now until 2014, we're putting in money to expand our solid state lighting (SSL) plant to make LED chips....

Hiap Teck to be Asean's only steel slab producer.
November 24, 2011... Byline: June Ramlee KLANG: Hiap Teck Venture Bhd (HTVB) will soon be the only company in Malaysia and the Asean region to produce steel slabs used in the manufacturing and construction industry. Its executive director Low Choong Sing said...

Debit cards rising in popularity.
November 24, 2011... Byline: Bilqis Bahari KUALA LUMPUR BANK Islam Malaysia Bhd has more users of debit cards than credit cards, reflecting the rising popularity of the use of debit cards among Malaysians. The lender has some 460,000 debit card users compared...

Leong checks out of Firefly, may check in at Khazanah.
November 23, 2011... Byline: Marina Emmanuel GEORGE TOWN: Fly Firefly Sdn Bhd managing director Eddy Leong has quit from the community carrier owned by Malaysia Airlines (MAS). Business Times has learnt that Leong, 39, had tendered his resignation yesterday...

TSH aims to be major regional player.
November 23, 2011... Byline: Zaidi Isham Ismail KUALA LUMPUR TSH Resources Bhd aims to become a regional plantation player in the next few years by expanding its planted hectarage specifically in Indonesia. TSH chairman Datuk Dr Kelvin Tan Aik Pen said the...

CPI seen growing 3.3pc in Oct.
November 23, 2011... Byline: Rupa Damodaran KUALA LUMPUR: Softening external demand has reduced inflation pressures in Malaysia, with the Consumer Price Index (CPI) likely to have grown by 3.3 per cent in October. Nevertheless, food prices are expected to be...

CIMB-Principal fund targets European mart.
November 23, 2011... Byline: Rupa Damodaran KUALA LUMPUR CIMB-Principal Islamic Asset Management is setting up an Islamic fund targetting the European market via the Dublin global fund platform. "We are in the late stages of developing it, probably (launch) in...

Lending more innovation.
November 23, 2011... KUALA LUMPUR: Banks are getting more innovative in their offerings to importers and exporters, given the rising risks the companies face amid the shaky global outlook, says HSBC. With so much uncertainty about the direction of the global...

Domestic demand to drive growth.
November 23, 2011... Byline: Rupa Damodaran KUALA LUMPUR Malaysia's growth next year will be largely driven by the domestic sector, says Malaysian Institute of Economic Research (Mier). Executive director Dr Zakariah Abdul Rashid said domestic demand may...

Banks expected to record 8pc loan growth.
November 23, 2011... Byline: Rupinder Singh KUALA LUMPUR Malayan Banking Bhd (Maybank) expects the banking industry's loan growth to be at 8 per cent next year despite the expected slower global economy growth. Chief executive officer Datuk Seri Abdul Wahid...

Petra Energy posts Q3 loss.(Financial report)
November 23, 2011... KUALA LUMPUR: Oil and gas company Petra Energy Bhd has reported a third quarter loss due to lower revenue recorded by its marine offshore support services. The group said the revision of a daily charter rate for vessel and lower activities...

Mardi helps boost farm productivity.
November 23, 2011... Byline: Rupinder Singh KUALA LUMPUR Malaysian Agricultural Research and Development Institute (Mardi) is playing a key role in increasing the productivity of agriculture by ensuring crops and livestock have disease resistant traits and high...

Red Protect for Man U fans.
November 23, 2011... Byline: Goh Thean Eu KUALA LUMPUR Aon Corp, the world's largest insurance broker, has teamed up with the Manchester United Football Club to launch the club's first insurance product in the country. The insurance product, dubbed Red...

Danajamin guarantees Poh Kong's RM150m sukuk.
November 23, 2011... KUALA LUMPUR: Danajamin Nasional Bhd is guaranteeing Poh Kong Holdings Bhd's RM150 million seven-year Islamic commercial papers/Islamic medium-term notes programme. The first tranche of the bond, amounting to RM50 million, was issued...

Google lends a hand to SMEs.
November 23, 2011... Byline: Bilqis Bahari KUALA LUMPUR Small and medium-sized enterprises (SMEs) in Malaysia can now get an extra helping hand from an Internet giant. Google Malaysia, along with Malaysian Communications and Multimedia Commission (MCMC), .my...

Nazifuddin resigns from Harvest Court board.
November 22, 2011... Byline: Goh Thean Eu KUALA LUMPUR: Mohd Nazifuddin Mohd Najib has quit from the board of Harvest Court Industries Bhd, less than a month after he was appointed to the board. Mohd Nazifuddin was appointed non-executive director of Harvest...

Property sector remains buoyant.
November 22, 2011... Byline: June Ramlee KUALA LUMPUR DESPITE talk of a recession, the local property scene is still buoyant with many people wanting to buy homes, especially in the city centre and in Johor. HomeGuru.com.my country manager Steven Tan said...

Bumi Armada eyes at least 2 new jobs a year.
November 22, 2011... KUALA LUMPUR: Oil-field services provider Bumi Armada Bhd is optimistic about the outlook for next year, boosted by sustainable oil prices at above US$70 (RM222) per barrel and continued investment by oil companies in the sector. With this in...

Penang airport may see further expansion.
November 22, 2011... Byline: Marina Emmanuel GEORGE TOWN The Penang International Airport is likely to see further expansion if plans to relocate the MASkargo Complex Centre close to the airport are successful. Business Times has learnt that Malaysia Airports...

Malaysia fiscal debt position 'not alarming'.
November 22, 2011... Byline: Rupa Damodaran KUALA LUMPUR Malaysia's fiscal debt position may be high but is not at an alarming level, thanks to the high level of government assets said a World Bank senior country economist. Government-linked corporations like...

Malaysia-India trade to grow.
November 22, 2011... KUALA LUMPUR: Trade between Malaysia and India could surpass the US$15 billion (RM47.55 billion) mark by 2015, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Given the robust growth of the Indian and Malaysian...

Fitters' nine-month revenue hits record high.(Financial report)
November 22, 2011... KUALA LUMPUR Fitters Diversified Bhd revenue for the nine months ended September 30 2011, surged to a record. Revenue for nine months was higher than any of the company's full-year revenue. For the nine months ended September 30 2011,...

Give us a fair hearing, Fernandes tells ministry.
November 21, 2011... KUALA LUMPUR AirAsia Bhd co-founder and Malaysia Airlines shareholder Tan Sri Tony Fernandes has called for a more objective Transport Ministry, saying that airlines are not given a fair hearing. "The secretary-general of Transport Ministry...

Oil palm threat.
November 21, 2011... Byline: Ooi Tee Ching KUALA LUMPUR MALAYSIA'S oil palm industry is on alert for the bud rot disease that has killed millions of trees in South America. The disease is estimated to have wiped out some 50,000ha of oil palm estates in South...

Positive Q3 GDP to spur stocks.
November 21, 2011... Byline: Goh Thean Eu THE local stock market may rebound this week, backed by better-than-expected third quarter economic growth as well as expectations of a strong US economic growth in the fourth quarter. "Barring any major negative news...