Business Times (Malaysia) articles from October 2006

Business Times (Malaysia) archives from October 2006

Maika's proposal to cut stake in insurance unit may face resistance.
October 31, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran; P. Chandra Sagaran MINORITY shareholders of Maika Holdings Bhd are expected to vote against the group's proposed disposal of its insurance subsidiary Oriental Capital Assurance...

Malaysia, US start crucial round of talks.
October 31, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran A CRUCIAL third round of Malaysia and US Free Trade Agreement (FTA) negotiations kicked off yesterday as both countries ploughed into the contentious trade and market access and...

Lee: No plans to take IOI Prop private for now.
October 31, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching PLANTATION group IOI Corp Bhd has dismissed ongoing market talk that it plans to take its profit-making property unit private. "There are no plans for now (to delist IOI...

Talam soars to 5-month peak.
October 31, 2006... (From Business Times (Malaysia)) SHARES of construction firm Talam Corp Bhd rose to their highest in five months on heavy trading after Business Times reported that rival IJM Corp Bhd may buy a 30 per cent stake in the company. It...

Malaysia's 2006 palm oil exports to hit new high.
October 31, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail; Ooi Tee Ching MALAYSIA'S palm oil exports in 2006 are set to hit a new record of RM31 billion on the back of robust global demand from the food, oleochemicals and biodiesel...

Sime sale of Jaya stake draws mixed reactions.
October 31, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar ANALYSTS offered mixed reactions yesterday to the sale of Sime Darby's 29.3 per cent stake in Jaya Holdings Ltd to Nautical Offshore Services. OSK Research Sdn Bhd said...

Petronas to explore for hydrocarbon in Timor Sea.
October 31, 2006... (From Business Times (Malaysia)) PETROLIAM Nasional Bhd (Petronas) said it will be exploring for hydrocarbon with three partners in the joint petroleum development area between Timor Leste and Australia. Petronas holds half of the...

Rockwills expects surge in insurance trust client base.
October 31, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar WILL-WRITING firm Rockwills Corp Sdn Bhd expects to attract more than 1,000 new clients for its insurance trust by 2007. Group chief executive officer Saw Leong Aun said...

Symantec offers new generation of IT security products.
October 31, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario NASDAQ-LISTED Symantec Corp said it will protect its customers from the next generation of threats by bringing together an ecosystem of products, services and partnerships to...

Citibank aims to double market share.
October 31, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran CITIBANK considers Malaysia as a "sweet spot" of retail and investment banking opportunities and hopes to double its current market share when the financial landscape is...

Tan Chong sales for Jan-Sept decline 18.5pc.
October 31, 2006... (From Business Times (Malaysia)) CAR distributor Edaran Tan Chong Motor Sdn Bhd, like most automotive players, continues to register weaker sales this year. Its sales for the nine-month period ended September 30, were 18.5 per cent...

Bank Islam banking on turnaround plan for revival.
October 31, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail LOSS-MAKING Bank Islam Malaysia Bhd is banking on a new five-point turnaround strategy, hefty provisions to cover unpaid loans and tighter credit controls to return to...

Karambunai set to ink deal with Abrar.
October 31, 2006... (From Business Times (Malaysia)) INTEGRATED resort developer, Karambunai Corp Bhd (KCB), is expected to sign a settlement agreement with Abrar Discounts Bhd for the full settlement and redemption of its RM420 million bonds tomorrow. ...

Bursa queries Sugar Bun over share price run-up.
October 31, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez STOCK exchange operator Bursa Malaysia yesterday slapped second board-listed fast-food operator, Sugar Bun Corp Bhd, with an unusual market activity (UMA) query following a...

Analysts: Ensure power from Bakun is taken up first.
October 31, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj SARAWAK'S plan to build two hydro-electric dams to support industrial development is feasible only if it were not able to tap the electricity generated by the RM9 billion...

Malakoff bags Algeria deal worth US$238m.
October 31, 2006... (From Business Times (Malaysia)) MALAKOFF Bhd has secured a US$238 million (RM866.32 million) seawater desalination project in Algeria, its first water business foray into this north African state. Subsidiary, Malakoff International...

Consolidation expected.
October 31, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock GAINS made by second and third liners' lifted market sentiment yesterday. However, the benchmark Kuala Lumpur Composite Index (KLCI) staged a minor technical pullback and the...

Revisiting the audit committee's role.
October 31, 2006... (From Business Times (Malaysia)) Byline: Philip Satish Rao THE audit committee is an important element in the overall corporate governance system. In the Malaysian context, the constitution of audit committees has long been a...

Analysts positive on Malakoff move.
October 31, 2006... (From Business Times (Malaysia)) MALAKOFF Bhd's venture into Pakistan could mean better earnings for the power producer, but competition remains stiff and the terms vague, analysts say. "I am positive on the company's venturing...

Mah Sing plans RM250m properties on Cheras site.
October 31, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun MAH Sing Group Bhd plans to build some RM250 million worth of properties on its newly-acquired land in Cheras, Kuala Lumpur, growing the property developer's presence in the...

Bear part of costs to train grads, MIM tells firms.
October 31, 2006... (From Business Times (Malaysia)) Byline: Roziana Hamsawi THE Malaysian Institute of Management (MIM) has proposed that both the Government and large corporations bear the costs to train unemployed management degree graduates. ...

Bigger share of digital camera mart eyed.
October 31, 2006... (From Business Times (Malaysia)) MATSUSHITA Electric Industrial Co Ltd, best known for its Panasonic brand ofproducts, expects to capture a 10 per cent share of the global market for digital cameras by March 2007. It aims to achieve...

Matsushita showcases its concern for environment.
October 31, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar FOR Japanese electronics company Matsushita Electric Industrial Co Ltd, its success in the electrical and electronics industry has not made it lose sight of its greater...

Factors behind AEON's success.
October 30, 2006... (From Business Times (Malaysia)) SUCCESS in the retail business requires discipline and long-term strategy. So does investment in retail stocks. Retail industry legendary money manager Peter Lynch's principle No. 14 is: If you like the...

Genting poised to pierce resistance.
October 30, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia resumed their upward march after a short pause the previous week. The benchmark Kuala Lumpur Composite Index (KLCI) rebounded for two consecutive...

Financial institutions urged to assess risk management needs.
October 30, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh MALAYSIA'S financial institutions must address risk management as an imperative issue, rather than an option, to protect the interest of stakeholders and to face the more...

KLCI futures - 1,000 mark in sight.
October 30, 2006... (From Business Times (Malaysia)) Byline: Bernard THE October contract on Bursa Malaysia Derivatives ended higher at 988.50 last Friday with an average 11,791 contracts transacted, with a decline in its open interest to 22,971...

It's a bull market.
October 30, 2006... (From Business Times (Malaysia)) Byline: W.Q. Mun Long-term: Bullish Short-term: Bullish Momentum index: + 118 Relative strength index: 87 Observations: Bulls on the Kuala Lumpur CPO futures market went on a rampage last week sending...

Bulls take charge on Bursa.
October 30, 2006... (From Business Times (Malaysia)) Byline: Ngu Chie Kieng BURSA Malaysia played catch-up with regional markets last week with blue chips pushing up the benchmark Kuala Lumpur Composite Index (KLCI) to a new six-and-a-half year high....

Dijaya close to clinching first overseas property deal.
October 30, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun DIJAYA Corp Bhd is close to striking its first real estate deal abroad where the Malaysian property developer plans to replicate its existing local upmarket developments. ...

Pempena seeks partners for overseas operations.
October 30, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan TOURISM Malaysia's investment arm, Pempena Sdn Bhd, said it is looking at strategic tie-ups with private enterprises to expand its international operations. Pempena...

How it all started.
October 30, 2006... (From Business Times (Malaysia)) TAN Sri Philip Kuok first mooted the idea of venturing into tourism segments which the private sector is wary of going into. The organisation he led then was called Tourism Development Corp (TDC) and...

Malakoff bidding for Pakistan power plant job.
October 30, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez MALAKOFF Bhd, the country's second largest power producer, is vying to secure a power plant construction and management contract worth as much as US$300 million (RM1.1...

Mamee wants bigger bite of exports.
October 30, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar FOOD firm Mamee-Double Decker (M) Bhd is looking to grow its exports to 40 per cent of revenue over the next five years, from 28 per cent currently. The country's second...

MS Time confident of 20pc yearly growth.
October 30, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus MS TIME Sdn Bhd, a Bumiputera-owned crane and hoist supplier, expects revenue to grow an average 20 per cent yearly from next year, with much of the revenue coming fom the Middle...

Biodiesel fuelling growth in process engineering.
October 30, 2006... (From Business Times (Malaysia)) Byline: Ooi Tee Ching BEFORE investors can even benefit from the first drop of methyl ester, engineers who build biodiesel plants are already cashing in on the biodiesel rush. OOI TEE CHING speaks to...

Tanjung Offshore gets third vessel from Muhibbah.
October 30, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li OIL and gas services provider Tanjung Offshore Services Sdn Bhd took delivery of its second straight supply vessel for operation in Malaysian waters on October 16. Dubbed...

Westports reaches another milestone.
October 30, 2006... (From Business Times (Malaysia)) WESTPORTS became the first port in Port Klang to hit 3 million TEUs (20-foot equivalent units) on Friday, which firmly places the port on the road to achieving a total container throughput of 3.7 million...

PTP still nation's busiest container port in Jan-Sept.
October 30, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li PORT of Tanjung Pelepas (PTP) in Johor has maintained its position as the country's busiest container port in the first nine months of this year, with the total container...

BAT shares slide on news of slower Q3 earnings growth.
October 27, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj SHARES of British American Tobacco Malaysia Bhd (BAT) fell sharply yesterday after the cigarette maker posted a slower net profit growth in the third quarter on the back of...

Netherlands steps up efforts to woo Malaysian investors.
October 27, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu THE Netherlands has the "right ingredients" to attract more Malaysian investments to its shores, says its foreign investment promotion agency. These ingredients include the...

DiGi poised to ring up strong profit increase.
October 27, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee DIGI.COM Bhd, the nation's smallest mobile phone player by subscribers, is poised to post double-digit profit growth next year, helped by its current strategies, analysts say. ...

Komag revenue jumps 33pc in third quarter.
October 27, 2006... (From Business Times (Malaysia)) KOMAG Inc, the world's largest US-based maker of thin-film media, saw its third-quarter revenue jump 33 per cent to US$239.6 million (US$1 = RM3.67) compared with 2005. Net profit was US$34.5 million,...

Alliance Bank looks to SMEs for growth.
October 27, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj ALLIANCE Bank Malaysia Bhd, a wholly-owned unit of Malaysian Plantations Bhd, aims to grow its small- and medium-sized enterprise (SME) loans by up to 30 per cent in the...

Challenges in supply chain management on agenda of KL event.
October 27, 2006... (From Business Times (Malaysia)) ECR MALAYSIA says the Ninth Efficient Consumer Response (ECR) Asia Conference in Kuala Lumpur next month will attract a larger number of delegates compared with last year's turnout of over 800 delegates...

Malaysian farmers told to look to Taiwan for latest technology.
October 27, 2006... (From Business Times (Malaysia)) Byline: Sim Bak Heng LOOK to Taiwan for the latest in farm management and bio-technology. This is the new approach adopted by the Malaysian Fruit Growers Association (MFGA) in its quest to make...

Uptrend remains intact.
October 27, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock SHARES on Bursa Malaysia remained firm after the double festive holidays as advances beat declines by 495 to 240. The Kuala Lumpur Composite Index (KLCI) opened at 979 before...

Sunrise: More projects in pipeline.
October 27, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun PROPERTY developer Sunrise Bhd, renowned for its upmarket offerings in Mont'Kiara, Kuala Lumpur, is expected to launch more than RM1 billion worth of properties in its current...

Tune Air cuts stake in AirAsia.
October 27, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee TUNE Air Sdn Bhd has sold a 4.7 per cent stake in budget carrier AirAsia Bhd, with T. Rowe Price, AirAsia's second largest shareholder, believed to be the buyer. Several...

Plan to take MTD Capital private in the works.
October 27, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez MTD Capital Bhd, the country's second largest toll operator, may be taken private if a plan is worked out to turn it into a privately-held holding company for a slew of...

SHV shortlists 3 suitors for Makro Malaysia sale.
October 27, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan DUTCH firm SHV Holdings NV is said to have narrowed the field of suitors for its Malaysian retail chain, Makro Cash & Carry Distribution (M) Sdn Bhd (Makro Malaysia), down to...

Skali Group delays Mesdaq listing to 2007.
October 27, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee E-BUSINESS specialist Skali Group has postponed its Mesdaq listing plan to next year, due to the illiquid condition of the stock market, according to its president and co-founder...

Innovation key to putting fizz in local drinks market.
October 27, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan THE Malaysian beverage industry has plenty to offer from flavours and packaging to enhanced drinks that suit various Malaysian palates. Yet, it still does not manufacture a...

Health-based beverages will see growth: Yeo's.
October 27, 2006... (From Business Times (Malaysia)) OWEN Ow, managing director of leading beverage maker Yeo Hiap Seng (Malaysia) Bhd (Yeo's), has identified health-related beverages as the next line of products offering prospects for sales growth. ...

Subri is non-exec director of LogicaCMG.
October 27, 2006... (From Business Times (Malaysia)) LOGICACMG (M) Sdn Bhd has appointed Subri Abdullah as non-executive director for its Malaysian operations. Subri, 57, has been chief executive officer of a number of local insurance companies,...

Eden eyes investors for bakery, cafe businesses.
October 27, 2006... (From Business Times (Malaysia)) EDEN Enterprises (M) Bhd is looking for investors and franchisees to expand its bakery and cafe businesses. Director of the food and beverage and tourism sectors, Abdullah A. Rasol, said Eden...

Cahya Mata a strong bidder for Brunei deal.
October 26, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez CAHYA Mata Sarawak Bhd, a conglomerate listed on the main board of Bursa Malaysia and the country's sixth largest construction company, is believed to have emerged as one of...

Online search facility a big hit with foreign firms.
October 26, 2006... (From Business Times (Malaysia)) FOREIGN firms from the US, the UK, Europe and Asia have been most active in conducting online searches on Malaysian companies and businesses via the Companies Commission of Malaysia's (SSM) online search...

10-point plan for enhancing tax administration.
October 26, 2006... (From Business Times (Malaysia)) Byline: Dr Veerinderjeet Singh ONE of the key thrusts of the National Mission outlined in the Ninth Malaysia Plan (9MP) is to strengthen the nation's institutional and implementation capacity. This is...

RAM: Rating for Kesas notes stays.
October 26, 2006... (From Business Times (Malaysia)) RATING Agency Malaysia Bhd (RAM) has reaffirmed the "AA3" rating on highway operator Kesas Sdn Bhd's RM800 million Al-Bai' Bithaman Ajil Islamic Debt Securities (2002/2014). RAM has also gave a long-...

ViTrox chairman says local SMEs need more help.
October 26, 2006... (From Business Times (Malaysia)) Byline: Audrey Dermawan MESDAQ-LISTED ViTrox Corp Bhd is urging the Government to do more for small and medium enterprises (SMEs) in the country. Newly-appointed chairman Datuk Kelvin Kiew said...

Malaysia's cash-making machines.
October 26, 2006... (From Business Times (Malaysia)) Byline: Shahriman Johari ALMOST a decade after the Asian financial crisis struck, top Malaysian firms have built up healthy cash positions as they seek to pounce on possible acquisitions or make...

Sunway expected to launch RM2b REIT.
October 26, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur MALAYSIAN conglomerate Sunway Group is expected to launch potentially one of the biggest real estate investment trusts (REITs) in Malaysia in the third quarter of next year, say...

Nacap bids for RM2.2b worth of pipeline projects.
October 26, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus NACAP Asia Pacific Sdn Bhd (Nacap), the operating company for Dutch Koop's pipeline division in Asia, is bidding for contracts worth RM2.2 billion to lay onshore oil and gas...

Johor's Focal Aims makes foray into Klang Valley.
October 26, 2006... (From Business Times (Malaysia)) Byline: Ravi Nambiar JOHOR-BASED property developer Focal Aims Holdings Bhd is making its first foray into the competitive Klang Valley property market with a RM200 million upmarket residential...

Red Quali Cafe to roll out franchise plan.
October 26, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar LOCAL family restaurant chain Red Quali Cafe said it plans to capture a 5 per cent share in the country's fast food market by 2008. Director Arif Alif Iskandar said the...

ABN AMRO named Asia's best overall research house.
October 26, 2006... (From Business Times (Malaysia)) THE Netherlands-based ABN AMRO group was named the best overall research house in Asia (excluding Japan) by independent research analysis firm, AQ Research, in the latter's RQ Asia 300 report for the...

KL to host major trade fair in 2007.
October 26, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid KUALA Lumpur will once again be in the spotlight of the international trading community when Malaysia External Trade Development Corp (Matrade) hosts the largest general trade...

ERL to host regional air-rail meeting.
October 24, 2006... (From Business Times (Malaysia)) EXPRESS Rail Link Sdn Bhd (ERL) will host the International Air-Rail Organisation (Iaro) regional meeting in Kuala Lumpur on November 13. ERL chief executive officer Dr Aminuddin Adnan said Malaysia...

Natural Aloe steps up efforts to boost market share.
October 24, 2006... (From Business Times (Malaysia)) Byline: Chuah Bee Kim JOHOR-BASED Natural Aloe Industries Sdn Bhd, which makes herbal products, will invest RM4 million over the next two years to expand its operations and market share in Malaysia....

Find own way of doing things, companies told.
October 24, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan RICARDO Semler is world famous for his company's unusual workplace practices. Yet, despite a better performance from his firm, he tells companies to find their own way of...

Sarawak investors must seek alternative investment tools.
October 24, 2006... (From Business Times (Malaysia)) THE growing complexity in the financial marketplace has made it difficult for Sarawak investors to identify the right investment tools to grow their business and enhance personal wealth, despite economic...

Survey shows practice gaining wider acceptance.
October 24, 2006... (From Business Times (Malaysia)) Byline: Desmond Davidson ALMOST half of the companies listed on Bursa Malaysia practise some form of corporate social responsibility (CSR). But many do not report what they are doing, Association...

Stronger profile in Asia for CPA Australia.
October 24, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid CPA AUSTRALIA, the professional accounting body, may increase its annual budget of A$20 million (RM55.8 million) to expand activities in the Asia. CPA Australia president...

Swiss firm gets nod for retakaful operations.
October 24, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus CONVERIUM Holding AG, an independent international multi-line reinsurer based in Switzerland, has received the approval from the Labuan Offshore Financial Services Authority...

Shopping malls see robust sales into early 2007.
October 24, 2006... (From Business Times (Malaysia)) Byline: Vasantha Ganesan SHOPPING complexes in Malaysia are looking forward to monthly sales growth of 10 per cent to 15 per cent from now until Chinese New Year in February 2007. Shopping centre...

Malaysian builders tap rich vein of jobs in UAE.
October 24, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur MALAYSIAN construction firms, while eyeing jobs locally under the Ninth Malaysia Plan, are still being lured away by the many and lucrative opportunities available in the United...

Telecom services provider Acasia to widen coverage.
October 24, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur ACASIA Communications Sdn Bhd, a joint venture among six major Asean international telecommunication operators, plans to increase its coverage to help develop Malaysia's...

Commodities sector thriving, says CLSA.
October 24, 2006... (From Business Times (Malaysia)) MALAYSIA'S commodities sector is thriving, driven by oil prices, concerns about the environment, fuel supply and a sustained economic rebound in Japan. The top four groups - palm oil, rubber, timber,...

Malaysia's labour unions seek extension of retirement age.
October 24, 2006... (From Business Times (Malaysia)) LABOUR unions in Malaysia, both in the public and private sectors, have called for an extension of the retirement age for employees. In March 2001, the Malaysian Government raised the retirement age...

Entering golden years and still keen on working.
October 24, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid A GROWING number of Malaysians are opting to work beyond the normal retirement age of 55 because they want to stay involved. A survey of employees across Malaysia has...

Michelin: Radial tyres can help lighten fuel bills.
October 24, 2006... (From Business Times (Malaysia)) MALAYSIA'S transportation sector can save some 320 million litres of diesel or RM500 million per year in fuel costs if its fleet of trucks and buses currently on bias tyres switch to radial tyres. ...

Tay heads FedEx customer service ops for South Pacific.
October 24, 2006... (From Business Times (Malaysia)) FEDERAL Express (FedEx) has appointed Lily Tay as the managing director (MD) of customer service operations for South Pacific. Based in Malaysia, Tay is responsible for the development and execution...

KLCI futures to continue gradual rise.
October 23, 2006... (From Business Times (Malaysia)) Byline: Bernard THE October contract on Bursa Malaysia Derivatives ended at 975 last Friday with an average 1,966 contracts transacted with an improvement in its open interest to 26,370 contracts. The...