Business Times (Malaysia) articles from September 2006

Business Times (Malaysia) archives from September 2006

Gamuda posts 33pc fall in Q4 net profit.
September 30, 2006... (From Business Times (Malaysia)) CONSTRUCTION and infrastructure group Gamuda Bhd said its fourth quarter net profit fell almost 33 per cent due to lower contribution from its construction division. Gamuda posted a net profit of...

Consolidation expected next week.
September 30, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE benchmark Kuala Lumpur Composite Index (KLCI) staged a successful re-test of its downside support of 960 before rising to stage a re-challenge of its overhead resistance of 970...

Analysts adopt neutral call on banking sector.
September 30, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj ANALYSTS are mostly keeping a neutral stance on Malaysia's banking sector as recent August statistics continue to point to a tough operating environment. Data provided by...

Differentiation - the reality.
September 30, 2006... (From Business Times (Malaysia)) Byline: Jack Welch; Suzy Welch WELCOME to our column. Very simply, it's called 'WINNING,' because that is what we intend to talk with you about each and every week - how to win in business and in...

Ali quits as Supermax chairman.
September 30, 2006... (From Business Times (Malaysia)) DATUK Ali Kadir has resigned as chairman of Supermax Corp Bhd, a rubber glove maker. His resignation came days after Supermax called off a merger with associate Seal Polymer Bhd. Supermax did not say...

Creditors unhappy with SunInfra's new provision.
September 30, 2006... (From Business Times (Malaysia)) SUNWAY Infrastructure Bhd (SunInfra), a toll-highway operator, told bondholders it will settle the RM740 million payment offer within 12 months but added a clause into the payment agreement. A revised...

Wijaya Baru Global reprimanded.
September 30, 2006... (From Business Times (Malaysia)) WIJAYA Baru Global Bhd was reprimanded by Bursa Malaysia after it failed to tell the exchange immediately about the sale of a piece of Pulau Indah land on November 12 2002. Wijaya also failed to send...

Green Packet: RM800m for wireless solutions roll-out.
September 30, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu TELECOMMUNICATIONS services firm Green Packet Bhd will spend as much as RM800 million on capital expenditure next year to roll out its wireless broadband solutions locally and...

Sime in 'early talks' to buy majority stake in Ramunia.
September 30, 2006... (From Business Times (Malaysia)) SIME DARBY Bhd says it is in early talks to buy a majority stake in Ramunia Holdings Bhd, a support contractor for the oil and gas industry. Ramunia Holdings, in turn, informed Bursa Malaysia, that...

Asia File hopes to clinch deal abroad.
September 30, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel ASIA File Corp Bhd, a stationery maker that is on an acquisition trail, is looking to clinch a deal abroad soon. The Penang-based company is currently in talks with a...

ACB up on retail deal.
September 30, 2006... (From Business Times (Malaysia)) SHARES of Amalgamated Containers Bhd (ACB) rose as high as 8.6 per cent to 88.5 sen after saying it will become the new retailing arm of Lion Group following a RM4.3 billion deal with Lion Diversified...

GMO to buy Chinese firm for RM412m.
September 30, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu GMO Ltd, owned by Green Packet Bhd, mTouche Technology Bhd and OSK Ventures International Bhd, will pay up to US$111.2 million (RM412 million) for a Chinese content provider, as...

Charity's investment raises questions.
September 30, 2006... (From Business Times (Malaysia)) Byline: Presenna Nambiar THE Hope Foundation's RM10 million investment in a loss-making company has raised questions about the charity organisation's foray into the stock market. Charities...

Asmara Air may start boutique charter service by year-end.
September 30, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin ASMARA Air, the latest entry to Malaysia's aviation industry, may see its planes take off by the end of this year. A source from the Department of Civil Aviation (DCA)...

Maxis slashes price of prepaid starter pack.
September 30, 2006... (From Business Times (Malaysia)) Byline: Zurinna Raja Adam MALAYSIA'S mobile phone companies are set to put their gloves on and step into the ring again. Market leader Maxis Communications Bhd has cut the price of its prepaid starter...

AC Nielsen: Shoppers to spend more in H2.
September 30, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar SHOPPERS' spending and consumer sentiment are expected to be positive in the second half of 2006, but not without some challenges, a survey by AC Nielsen shows. AC Nielsen...

Tie-up enables InnoBio to tap GE Healthcare's technology.
September 30, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh INNO Biologics Sdn Bhd (InnoBio) expects to tap more opportunities in the region via its long-term collaboration with UK-based GE Healthcare. InnoBio and GE Healthcare...

Emirates: It's now 9 flights a week from KL to Dubai.
September 30, 2006... (From Business Times (Malaysia)) EMIRATES Airline has increased the frequency of its flights on the Kuala Lumpur-Dubai route to cope with increased passenger traffic. The carrier has added one flight, making the total number of...

Sindora plans to enlarge EATech's fleet.
September 30, 2006... (From Business Times (Malaysia)) Byline: Chuah Bee Kim PLANTATION company Sindora Bhd, which diversified into shipping with its recent takeover of E.A. Technique (M) Sdn Bhd (EATech), plans to enlarge EATech's fleet of four product...

MCIS Zurich eyes tie-up to be key player.
September 29, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh COMPOSITE insurer MCIS Zurich Insurance Bhd may merge with a local insurer within the next two years to become a key player in the country's insurance industry, its chief...

US Altiris finds its first local distributor.
September 29, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario NASDAQ-listed Altiris Inc has entered into a strategic partnership with Malaysia's First Solution Sdn Bhd to deliver information technology (IT) lifecycle management solutions...

RM150m fund launched to help professionals export services.
September 29, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid THE Government yesterday launched a RM150 million Professional Services Export Fund (PSE Fund) that would help Malaysian professional service providers to bid for overseas...

Broadband firm predicts 30pc to 50pc growth.
September 29, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu BROADBAND Internet service provider Macro Lynx Sdn Bhd, a wholly-owned unit of Goldis Bhd, expects revenue to grow at the rate of 30 per cent to 50 per cent this year, helped by...

Property unit drives E&O profit.
September 29, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj EASTERN & Oriental Bhd (E&O) is on track to beat last year's fiscal performance, with the group's property development business expected to continue driving the bulk of net...

MRCB ventures into Middle East.
September 29, 2006... (From Business Times (Malaysia)) MALAYSIAN Resources Corp Bhd (MRCB), through its joint-venture company Al Fattan MRCB Construction Co (LLC), has been awarded a 390 million dirhams (RM391 million) contract by Al Fattan Properties LLC to...

EON to sell Volkswagen marques.
September 29, 2006... (From Business Times (Malaysia)) EDARAN Otomobil Nasional Bhd (EON), through its wholly-owned subsidiary Euromobil Sdn Bhd, has secured the rights to market and sell all products of the German Volkswagen (VW) marques in Shah Alam,...

Acquisitions boost YGL growth.
September 29, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee ACCOUNTING software maker YGL Convergence Bhd expects double-digit revenue and net profit growth next year, following a string of acquisitions since listing on the Mesdaq market of...

PBA to tap water demand in small China towns.
September 29, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel PBA Holdings Bhd (PBA), which has been supplying water in China's Jiangxi Province since June this year, is now looking to replicate its water supply management model in other...

Centre to help develop nation as hub.
September 29, 2006... (From Business Times (Malaysia)) MALAYSIA recently launched a new initiative called the International Islamic Financial Centre (MIFC) which is aimed at further developing Malaysia as an international Islamic financial hub of vibrant,...

Supermax aborts merger with Seal Polymer.
September 29, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail RUBBER glove maker Supermax Corp Bhd's plan to merge with Seal Polymer Industries Bhd was called off because both companies could not agree on the price. Analysts who...

Khazanah bonds light path for big firms.
September 29, 2006... (From Business Times (Malaysia)) Byline: Shahriman Johari THE world's maiden Islamic exchangeable bonds by Khazanah Nasional Bhd may well be a trail-blazing effort that could prompt other large companies to tap Middle Eastern...

Guthrie may list units to help cut debt by RM1b (HL).
September 29, 2006... (From Business Times (Malaysia)) Byline: Francis Fernandez KUMPULAN Guthrie Bhd, the country's largest publicly traded plantation group by landownership, is working on a plan to hive off its non-core assets, and list some profitable...

EPF may set up property trust but is in no rush.
September 29, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee MALAYSIA'S biggest pension fund, the Employees Providend Fund (EPF) and owner of many properties, may set up a property trust in future but is not in a rush to do so, a top...

KLCI at 61/2-year high.
September 29, 2006... (From Business Times (Malaysia)) MALAYSIA'S benchmark stock index, the Kuala Lumpur Composite Index (KLCI), rose to its highest level in about six-anda-half years yesterday, led by gains in blue chips such as IOI Corp and Malaysian...

New twist to SunInfra debt revamp proposal.
September 29, 2006... (From Business Times (Malaysia)) Byline: Rupinder Singh A NEW twist emerged in the debt revamp plan for Sunway Infrastructure Bhd (SunInfra), a toll-highway operator. Yesterday's meeting to decide whether bondholders would accept...

Overhead resistance set to be tested.
September 29, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE benchmark Kuala Lumpur Composite Index (KLCI) staged a re-challenge of its overhead resistance of 970 as advances beat declines by 329 to 317. The KLCI rose from its...

Malaysia's success story.
September 29, 2006... (From Business Times (Malaysia)) THE Malaysian Islamic banking experience, although started later than the conventional banking, has uniquely been a successful one. Now it is at par with the conventional banking, attracting not only...

Islamic banking shifts into high gear.
September 29, 2006... (From Business Times (Malaysia)) Byline: Roziana Hamsawi THE Islamic financial sector in Malaysia is seen as one of the most progressive and attractive in the world, given the numerous incentives planned and further liberalisation in...

Finnair eyes MAS tie-up.
September 29, 2006... (From Business Times (Malaysia)) Byline: Anna Maria Samsudin FINLAND'S flag carrier Finnair, scheduled to fly into Malaysia by next year, has expressed interest to collaborate with Malaysia Airlines (MAS). Hanuu Sundberg, the...

SP Setia bags Euromoney award 2nd year running.
September 29, 2006... (From Business Times (Malaysia)) SP SETIA Bhd has been named Best Property Developer in Malaysia for the second year running by UK-based financial publication Euromoney's Real Estate Awards. The annual survey seeks to recognise high...

KL Metro forks out RM110m for more chalets in Port Dickson.
September 29, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun PROPERTY developer Kuala Lumpur Metro Group (KL Metro) is building another RM110 million worth of properties in Port Dickson, Negri Sembilan, to expand its presence there. ...

Warming up to solar power.
September 27, 2006... (From Business Times (Malaysia)) Byline: Chong Jin Hun FOR the last 20 years, there has been much talk about a "solar revolution", where one day we will all use free power from the sun. Why hasn't that happened? The key reason, CHONG...

Sime Engr: We're not in talks on buying into Ramunia.
September 27, 2006... (From Business Times (Malaysia)) SIME Engineering Services Bhd, a unit of Sime Darby Bhd, has denied reports that the company is in talks to buy shares in Ramunia Holdings Bhd, a support contractor for the oil and gas industry. Sime...

CIMB may handle bond sale for transport firm.
September 27, 2006... (From Business Times (Malaysia)) Byline: Zaidi Isham Ismail CIMB Investment Bank Bhd has been tipped to clinch a business deal to lead arrange a RM1.5 billion bond sale for Syarikat Prasarana Negara Bhd (SPNB). SPNB, which is...

Management changes at MAS.
September 27, 2006... (From Business Times (Malaysia)) MALAYSIA Airlines (MAS) yesterday announced a string of changes in its management structure. Tajuden Abu Bakar, former senior general manager (technical and ground operation), will take on the...

SMR Tech shares get thumbs up from TA Sec.
September 27, 2006... (From Business Times (Malaysia)) TA SECURITIES has recommended a "buy" on shares of SMR Technologies Bhd (SMRT) as it likes the software maker's strong earnings growth and undemanding valuations. "We believe the counter is...

Deutsche Bank appoints Yeoh chief country officer for Malaysia.
September 27, 2006... (From Business Times (Malaysia)) DEUTSCHE Bank has appointed Raymond Yeoh as its chief country officer for Malaysia, effective immediately. Yeoh takes up this responsibility in addition to his current role as head of global markets...

Khazanah may issue US$750m Islamic bonds.
September 27, 2006... (From Business Times (Malaysia)) KHAZANAH Nasional Bhd, the country's state investment arm, may issue as much as US$750 million (RM2.76 billion ) of Islamic exchangeable bonds, sources told Business Times. The bonds could be...

Maxis to invest RM2b on 3G, broadband.
September 27, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu MALAYSIA'S biggest mobile firm, Maxis Communications Bhd, will spend a total of RM2.2 billion over the next three years to expand its third generation (3G) network and wireless...

Petronas gets 9th Indonesian block.
September 27, 2006... (From Business Times (Malaysia)) PETROLIAM Nasional Bhd (Petronas) has secured its ninth block in Indonesia's upstream oil and gas sector, with the award last week of a new offshore block, Lampung II. In a statement, Petronas said...

Three Malaysian firms bid for Indian oil and gas blocks.
September 27, 2006... (From Business Times (Malaysia)) Byline: Kamarul Yunus THREE Malaysian companies are bidding for oil and gas blocks onshore and offshore India under the country's Sixth New Exploration Licensing Policy (NELP-VI). Petroliam...

Maxlane eyes lucrative markets in Middle East, Indonesia.
September 27, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid MAXLANE Sdn Bhd, a power-related equipment manufacturer, is planning to spread its wings to lucrative markets abroad. Managing director Shakir Husein Kalid said the company...

Cosway may consolidate recent gains.
September 27, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock YESTERDAY, share prices on Bursa Malaysia extended their consolidations, contrary to the performance of the Kuala Lumpur Composite Index (KLCI). Its overall declining counters...

Petrofac starts output from Malaysian block.
September 27, 2006... (From Business Times (Malaysia)) UK-BASED Petrofac Ltd, an international oil and gas facilities service provider, has started production from the Cendor field in Block PM304 offshore Peninsular Malaysia. Petrofac Malaysia, a...

Siemens Malaysia buys up rest of sister company.
September 27, 2006... (From Business Times (Malaysia)) SIEMENS Malaysia Sdn Bhd plans to expand the market share of its medical equipment and services business by acquiring the entire stake in its associate company Meditel Electronics Sdn Bhd. Following...

EPF now allows members to check accounts online.
September 27, 2006... (From Business Times (Malaysia)) THE Employees Provident Fund (EPF) has introduced the i-Akaun online service to make it easier for its 5.8 million contributors to check their account details through the myEPF website. In a statement...

Spicing up the Malaysian market.
September 27, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel PENANG spice trader, Enrico Trading Sdn Bhd, whose core business has been in retail, wholesale and export of Indian spices and pulses to overseas markets, is now set to retail...

Genting rises on gas discovery by unit.
September 27, 2006... (From Business Times (Malaysia)) SHARES of Genting Bhd rose as much as 2.1 per cent yesterday after its subsidiary Genting Oil & Gas Ltd found gas in its Anambas Block in Indonesia's West Natuna. Its shares on Bursa Malaysia rose as...

Bank Negara keeps key rate at 3.5pc.
September 27, 2006... (From Business Times (Malaysia)) Byline: Rupa Damodaran BANK Negara Malaysia left the key interest rate, the Overnight Policy Rate (OPR), unchanged yesterday as inflationary pressures in Malaysia continued to moderate in the second...

Securitisation to gain wider appeal.
September 26, 2006... (From Business Times (Malaysia)) MALAYSIAN Rating Corp Bhd (MARC) expects to see more plantations and real estate investment trusts (REITs) opt for securitisation as a funding option. Most of the asset-backed securitisation (ABS)...

Standard & Poor's maintains rating for MISC.
September 26, 2006... (From Business Times (Malaysia)) STANDARD & Poor's Ratings Services has affirmed shipping firm MISC Bhd's standing at "A-." It also affirmed the "A-" rating on medium-term notes issued by MISC Capital (L) Ltd, and guaranteed by MISC. ...

Road Builder upgraded after landing rail job.
September 26, 2006... (From Business Times (Malaysia)) Byline: Azlan Abu Bakar STOCKS of Road Builder (M) Holdings Bhd have been upgraded to a "buy" after it won a RM348 million railway project in Perak and on stronger market sentiment on construction...

MEMS Technology eyes transfer to main board.
September 26, 2006... (From Business Times (Malaysia)) Byline: Marina Emmanuel MEMS Technology Bhd (MEMS Tech) is eyeing a transfer of its listing from the Malaysian Exchange of Securities Dealing and Automated Quotation Bhd (Mesdaq) market of Bursa...

KNM aims to be among world's top 10 by 2008.
September 26, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj KNM Group Bhd aims to be among the world's top 10 global process equipment manufacturers by 2008, a top executive said. "We think we are probably in the top 20 now, but we...

Genting subsidiary finds gas off Indonesian waters.
September 26, 2006... (From Business Times (Malaysia)) GENTING Bhd's subsidiary, Genting Oil & Gas Ltd (GOGL), has found dry gas and gas condensate at its well in West Natuna, off Indonesia. In a statement yesterday, Genting said further evaluation of...

Govt unveils more initiatives to transform GLCs.
September 26, 2006... (From Business Times (Malaysia)) THE Government has launched an additional three initiatives under the Government Linked Company (GLC) Transformation Programme, to shift its focus towards more operations-based initiatives. The...

Service providers told to set up Internet exchange.
September 26, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu LOCAL Internet service providers and infrastructure owners have been told to set up Malaysia's very own Internet exchange by year-end, to reduce foreign exchange losses and costs...

REDtone mulls foreign IPO to promote new service.
September 26, 2006... (From Business Times (Malaysia)) Byline: Goh Thean Eu MESDAQ-LISTED REDtone International Bhd may consider an initial public offer (IPO) in a foreign market in two to three years, as part of its plan to make its latest service -...

IPOs: Bankers target quality, not quantity.
September 26, 2006... (From Business Times (Malaysia)) Byline: Adeline Paul Raj THE Securities Commission's (SC) tighter quality-control measures resulting in significantly fewer listings this year may not necessarily be bad news for investment banks who...

Northport on track to meet target.
September 26, 2006... (From Business Times (Malaysia)) Byline: Kang Siew Li NORTHPORT (Malaysia) Bhd said it remained on track to meet its forecast for a 5 per cent lift in container throughput this year, fuelled by growth in transshipment and local cargo...

OSK: Tissue maker to beat profit forecast.
September 26, 2006... (From Business Times (Malaysia)) Byline: Zuraimi Abdullah NTPM Holdings Bhd - Malaysia's largest tissue product manufacturer - is expected to beat profit expectations again on higher production and overseas sales, OSK Research says....

Kurnia Asia stages late rebound.
September 26, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock YESTERDAY, share prices on Bursa Malaysia continued to consolidate their recent gains. Its overall declining counters out-numbered its advancing counters by 363 to 295. The...

Nod for 66 machinery projects worth RM909m.
September 26, 2006... (From Business Times (Malaysia)) MALAYSIA'S machinery and equipment (M&E) industry has attracted RM909.3 million worth of investments through 66 projects that were approved during the first eight months of the year, said Ministry of...

Umar takes over helm of MAA Holdings.
September 26, 2006... (From Business Times (Malaysia)) MAA Holdings Bhd has appointed Muhamad Umar Swift as its chief executive officer and group managing director. He takes over from Tunku Ya'acob Abdullah, who has now been redesignated as...

Mauritius: We can be gateway to African marts.
September 26, 2006... (From Business Times (Malaysia)) Byline: Malcolm Rosario MAURITIUS wants more Malaysian businesses to invest in the country, and by doing so, they can use the island nation as a gateway to tap opportunities available in Africa. ...

Greenyield's global vision.
September 25, 2006... (From Business Times (Malaysia)) Byline: Ho Siew Yee MESDAQ-BOUND Greenyield Bhd has set its sights on all the rubber trees in the world in its quest to help owners extract more latex from them. The company, which makes systems...

KLCI futures: Sideways trading seen.
September 25, 2006... (From Business Times (Malaysia)) Byline: Bernard THE spot September contract on Bursa Malaysia Derivatives ended slightly lower at 960.50 last Friday with an average of 3,168 contracts transacted with an improvement in open interest...

Govt bond yields markedly lower.
September 25, 2006... (From Business Times (Malaysia)) DAILY volumes for the week averaged around RM1.7 billion last week as yields succumbed to buying pressure. The lower-than-expected Consumer Price Index figure and the fact that yields for US Treasury...

Protasco confident of RM1b order book by mid-2007.
September 25, 2006... (From Business Times (Malaysia)) Byline: Sharen Kaur ROAD construction company Protasco Bhd is confident that its order book will double to RM1 billion by the middle of next year, helped mainly by projects it hopes to win under the...

CIMB lists Gamuda, Sime Darby warrants.
September 25, 2006... (From Business Times (Malaysia)) CIMB Investment Bank Bhd has listed Gamuda Bhd and Sime Darby Bhd's warrants starting last Friday under its structured warrants programme. The Gamuda and Sime Darby warrants called noncollateralised...

Company forged from a blacksmith's skills.
September 25, 2006... (From Business Times (Malaysia)) GREENYIELD Bhd was founded by the Tham family in the 1930s. Don Tham Foo Keong's grandfather came all the way from China to Malaysia to seek a brighter future. Alone in a foreign land, there was...

Malaysian firms woo Singapore investors.
September 25, 2006... (From Business Times (Malaysia)) Byline: Chong Pooi Koon SINGAPORE: Over 500 small Singaporean investors turned up at a seminar over the weekend in the island republic to listen to investment opportunities detailed by the visiting...

Puncak Niaga in technical rally.
September 25, 2006... (From Business Times (Malaysia)) Byline: S.N. Lock THE Kuala Lumpur Composite Index (KLCI) staged a technical pullback to its intra-week low of 956.86 last Wednesday on investors' initial concern of the coup in Thailand. Key...

Foreign labour dilemma.
September 25, 2006... (From Business Times (Malaysia)) Byline: Hamisah Hamid NEARLY 20 per cent of Malaysia's total work force is foreign! Questions are being asked if such a high percentage and heavy dependence on semi-skilled and unskilled foreign...