Business Times (Malaysia) articles from September 2009, page 2

Business Times (Malaysia) archives from September 2009

Malaysian exports start to show signs of recovery.
September 25, 2009... Byline: Rupinder Singh MALAYSIA'S exports are beginning to see signs of recovery, International Trade and Industry Minister Datuk Mustapa Mohamed says. The pick-up in export demand suggests early signs of a global recovery, following the...

Nomad sees deal yielding return within 12-14 years.
September 25, 2009... Byline: Vasantha Ganesan SERVICED office and residence provider Nomad Group Bhd expects a return on investment (ROI) of its RM155.5 million purchase of Novotel Kuala Lumpur City Centre (KLCC) within 12 to 14 years . This projection is...

Local demand pick-up spurs economic rebound.
September 25, 2009... Byline: Rupa Damodaran MALAYSIA'S domestic demand has picked up, showing signs of a rebound in the economy, says Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz. "From domestic demand, we're seeing clear signs of a recovery...

Penang Port gets EPU nod to split up ops.
September 25, 2009... Byline: Marina Emmanuel THE Economic Planning Unit (EPU) has given the much-awaited nod to terminal operator Penang Port Sdn Bhd (PPSB) to separate its loss-making ferry operations from its core port business, and make it a subsidiary of the...

Zeti: Extensive reviewof legislation needed.
September 25, 2009... Byline: Rupa Damodaran CENTRAL banks need supporting legal framework to address the dynamic changes in conditions in the current global financial system, says Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz. She said those in the...

Dagang Net secures contract.
September 25, 2009... Byline: Sharen Kaur DAGANG Net Technologies Sdn Bhd, the country's sole provider of customs and trade facilitation solutions, has been given a contract to develop, manage and operate the National Single Window (NSW) for trade facilitation...

AEON optimistic of improved earnings.
September 24, 2009... Byline: Adeline Paul Raj AEON Co (M) Bhd, which operates Jusco stores, is confident of turning in better net profit this year despite the slower economy, its top official said. Managing director Nagahisa Oyama said that consumer spending...

SILK to raise RM10m from rights issue.
September 24, 2009... TOLL concessionaire holder SILK Holdings Bhd is undertaking a renounceable rights issue, which will raise RM10 million for the group, to be used for working capital and to cover the expenses of its proposed regularisation scheme. The rights...

ADB lowers forecast for Malaysia's growth this year.
September 24, 2009... Byline: Rupa Damodaran THE Asian Development Bank (ADB) has lowered its growth forecast for Malaysia to a 3.1 per cent contraction this year from a slide of 0.2 per cent, saying the deep slump in world trade and commodity prices had a much...

Sunway City secures RM600m loan.
September 24, 2009... PROPERTY developer Sunway City Bhd has taken a RM600 million loan from four local banks. Sunway City will use RM240 million to refinance existing commercial papers and medium term notes, RM200 million to refinance existing bank guaranteed bonds,...

Dorsett group out to trap more MICE.
September 24, 2009... Byline: Vasantha Ganesan DORSETT International Hotels and Resorts Sdn Bhd expects to increase its meeting, incentive, convention and exhibition (MICE) facilities by 50 per cent over the next five years as it expands its hotel portfolio. ...

Set to take out resistance high.
September 24, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia rallied higher before slipping lower in tandem with mixed performances on the regional stock markets yesterday. Its overall declining counters out-numbered advancing counters by 331 to 306....

Green batteries to drive ETI's future earnings.
September 24, 2009... Byline: Adeline Paul Raj ETI Tech Corp Bhd, a battery maker listed on the Ace Market, plans to mass-produce "green" batteries that are highly sought-after globally for use in things like electric vehicles, its chief said. It aims for the...

Tune Money to focus on strengthening operations this year.
September 24, 2009... Byline: Jeeva Arulampalam FINANCIAL service provider Tune Money Sdn Bhd will focus on consolidating business operations prior to rolling out new products and expanding its footprints overseas next year. It has spent these nine months...

Analysts: Maxis' lustre lies inyield, market share and margins.
September 24, 2009... THE top reasons for investing in soon-to-be-listed telecommunications company (telco) Maxis Bhd (Maxis Malaysia) are its potentially high-dividend yield, dominant share of the local mobile market and superior margins, analysts say. Maxis...

Make use of Afta to boost exports, says Mustapa.
September 24, 2009... Byline: Sulaiman Jaafar MALAYSIAN manufacturers and businessmen are urged to take advantage of the opportunities to export their products to other Asean countries once the Asean Free Trade Area (Afta) pact comes into force on January 1 2010....

Green Packet sets ambitious profit target.
September 24, 2009... Byline: Goh Thean Eu GREEN Packet Bhd, a telecommunications and broadband service provider, has set a net profit target of RM1 billion for 2013, driven by a maturing broadband and solutions business. The company posted a net loss of...

AEON Malaysia may take part in parent's plans.
September 24, 2009... Byline: Adeline Paul Raj AEON Co (Malaysia) Bhd, which operates the Jusco department store and supermarket chain in the country, may take a stake in its Japanese parent's expansion plans in Southeast Asia, its top executive says. The...

Search is on for the CEO of the year.
September 24, 2009... Apart from promoting corporate leadership, the Business Times Malaysia CEO Of The Year award also promotes excellence in corporate and financial performance as well as awareness of quality and excellence in corporate productivity THE search is...

Ekuinas to call for proposals in Nov.
September 24, 2009... Byline: Shahriman Johari EKUITI Nasional Bhd (Ekuinas), the newly set-up private equity fund management company, plans to call for proposals from other private equity firms keen to help it manage a slice of its RM10 billion fund in November...

Naza moves aggressively to expand hotel business.
September 23, 2009... Byline: Sharen Kaur THE Naza group, most known for its automotive business, is moving aggressively into the hotel sector and plans to expand its portfolio to include four- and five-star as well as boutique hotels. Nur Nadia SM Nasimuddin,...

Rebranding exercise.
September 23, 2009... THE Naza group, founded by the late Tan Sri SM Nasimuddin SM Amin in 1974, ventured into the hospitality business six years ago when it bought three buildings and converted them into hotels. The country's biggest privately-held automotive...

MPOC says attacks on palm oil politically motivated.
September 23, 2009... Byline: Ooi Tee Ching RECENT attacks against palm oil by non-governmental organisations (NGOs) Greenpeace and Friends of the Earth (FOE) were motivated by politics and trade, rather than genuine concern for environmental conservation, says...

CI eyes more sparkle from non-carbonated segment.
September 23, 2009... Byline: Zurinna Raja Adam CI HOLDINGS Bhd, which sells Pepsi and 7Up drinks in Malaysia, plans to improve group level revenue contribution from non-carbonated drinks business segment to 50 per cent in three years. Last year the division...

Insurer embarks on next wave of transformation.
September 23, 2009... Byline: Rupinder Singh GENERAL insurer Kurnia Asia Bhd plans to scale down its expense ratio to 15 per cent in three years to cut down cost of doing business and stay competitive in anticipation of a liberalised market, says its top...

ATG positive sales will keep on ticking.
September 23, 2009... Byline: Sharen Kaur ATG Watch Sdn Bhd, the sole importer and distributor of EPOS and Titoni watches in Malaysia, Singapore, Brunei and Indonesia, is upbeat about its future as sales for its watches have been thriving despite the current...

UK judge: Crisis shows global approach needed to tackle issues.
September 23, 2009... Byline: Rupa Damodaran THE current economic crisis has demonstrated the need for issues to be tackled on a global basis, says Sir William Blair, a High Court judge from the UK. "This was already well understood in terms of international...

Muhibbah buoyed by rising orders.
September 23, 2009... Byline: Kang Siew Li LOCAL shipbuilder Muhibbah Marine Engineering Sdn Bhd expects its performance to be better this fiscal year, on the back of increased orders and improved productivity. "(Despite the economic downturn,) we expect our...

Firm upbeat on office consultancy services.
September 23, 2009... Byline: June Ramlee RICOH (Malaysia) Sdn Bhd expects its office consultancy services segment to contribute at least 30 per cent to the group's revenue in the next two years, on the back of robust consumer demand. Its general manager of...

Prudential open to more bancassurance partners.
September 23, 2009... Byline: Jeeva Arulampalam PRUDENTIAL Assurance Malaysia Bhd will expand its alternative channel partnerships to strengthen its visibility in the life insurance market. Its chief executive officer (CEO) Charlie E. Oropeza said the group...

IPO mart shows signs of life.
September 23, 2009... Byline: Shahriman Johari THE market for initial public offerings (IPOs) is slowly coming back to life in Malaysia with a buoyant stock market, but the stars of the show appear to be content to wait before making a grand entrance. There...

Setting course for MAS to reach new heights.
September 23, 2009... Byline: Presenna Nambiar THE most urgent task for Malaysia Airlines' (MAS) newly-appointed chief would be to position and brand the national carrier ahead of economic recovery, say analysts. Datuk Tengku Azmil Zahruddin, previously the...

Leong: No winds of change with new chief at MAS.
September 23, 2009... BELOW are excerpts from an interview with FlyFirefly Sdn Bhd managing director Eddy Leong. Question: Firefly was first launched as a community airline with the plan to serve secondary routes. Do you think it has met this objective? Answer: I...

Firefly proves sceptics wrong.
September 23, 2009... Byline: Marina Emmanuel WHEN Malaysia Airlines (MAS) announced in 2007 that it was setting up a community airline which would use the Penang International Airport as its primary hub and operate using two 50-seater Fokker F50 planes, there...

BHPetrol: RM180m capex annually.
September 23, 2009... Byline: Zuraimi Abdullah BOUSTEAD Petroleum Marketing Sdn Bhd (BHPetrol), the petroleum retail unit of Boustead Holdings Bhd, plans to spend RM180 million in capital expenditure (capex) per year to expand its retail station network in the...

Murphy starts supplying natural gas to Petronas complex.
September 23, 2009... Byline: Kamarul Yunus US-BASED Murphy Oil Corp has started supplying up to 250 million cu ft per day (mmcfpd) of natural gas to Petroliam Nasional Bhd's (Petronas) liquefied natural gas (LNG) complex in Bintulu, Sarawak. It will be sourced...

Sexiest station wagon in the market.
September 23, 2009... Byline: Zuraimi Abdullah CAR buyers here do not have the luxury of choice when it comes to buying a station wagon. There was only a handful of such vehicles launched in the past decades with the more prominent one being Nissan AD Resort. ...

FBM KLCI set to test 1,248 resistance.
September 22, 2009... Byline: Kaladher Govindan BULLISH sentiment from regional markets which surged to 11-month highs last week on increasing signs of an end to the global recession and growing confidence in economic recovery spilled over to lift the local...

Revenue Valley defers Singapore IPO.
September 22, 2009... Byline: Sharen Kaur REVENUE Valley Group, which owns home-grown restaurants like The Manhattan Fish Market (MFM) and Tokyo G, has deferred plans to raise S$10 million (RM25 million) from an initial public offering (IPO) in Singapore, citing...

SME Corp loans, grants are now more industry-relevant.
September 22, 2009... Byline: Hamisah Hamid SME Corp Malaysia Bhd, which officially started its operations on September 1, has streamlined its loans and grants for small and medium enterprises (SMEs) to make them more relevant to the industry. The number of SME...

Agency to conduct analysis on impact of programmes.
September 22, 2009... SME Corp Malaysia Bhd will measure the outcome of this year's 174 programmes for small and medium enterprises (SMEs) using an impact analysis framework of SME programmes. Its chief executive officer Datuk Hafsah Hashim said the agency is...

RAM cuts Haisan Resources bond rating to BBB-.
September 22, 2009... MALAYSIAN Rating Agency Corp Bhd (MARC) has downgraded its rating on Haisan Resources Bhd's outstanding RM12 million bonds to BBB- from A-, with a negative outlook. This followed the company's announcement of its second-quarter earnings for...

Club Med may set up another village here.
September 22, 2009... Byline: Sharen Kaur FRENCH-BASED Club Mediterranee, which operates the Club Med resort chain, may set up another village in Malaysia if it gets the chance to take over an existing property with a management contract. Club Med...

Resorts operator sees Asia-Pacific as growth region.
September 22, 2009... PARIS-LISTED Club Mediterranee plans to set up more ski and beach resorts and is targeting Asia-Pacific as a growth region. Club Med vice-president of marketing and general manager of commercial for Asia-Pacific, Olivier Horps, said it is...

Wooing yacht owners to register vessels in Langkawi.
September 22, 2009... Byline: Kang Siew Li THE Transport Ministry has stepped up efforts to attract yacht owners from all over the world to register their vessels in Langkawi. There are now 130 yachts and 26 yachting entities registered with the Langkawi...

Westports box volume to grow by 5pc in next 10 years.
September 22, 2009... Byline: Presenna Nambiar WESTPORTS Malaysia Sdn Bhd, the operator of Westports in Port Klang, expects its container volume to grow by 5 per cent in the next 10 years, as it celebrates its 15th year in business. "Container volume grew by 9...

Bonia to push back 2010 goal.
September 22, 2009... Byline: Vasantha Ganesan FASHION retailer Bonia Corp Bhd is pushing back its target of achieving RM500 million revenue and RM50 million net profit by three years. Its group managing director Albert Chiang cited the unfavourable economic...

Malaysian firms take on bigger global role.
September 22, 2009... Byline: Rupa Damodaran THE increased outflow of investment by Malaysian companies is a reflection of their rising stature in the global arena, International Trade and Industry Minister Datuk Mustapa Mohamed says. "Many of these companies...

Ivory plans RM2b launches in Penang, Selangor.
September 22, 2009... Byline: Marina Emmanuel PENANG-BASED Ivory Properties Group plans to launch four properties, with a combined gross development value (GDV) of RM2 billion, within the next four years. Its executive director Datuk Seri Nazir Ariff Mushir...

Bonia to woo shoppers with affordability.
September 22, 2009... Byline: Vasantha Ganesan BONIA Corp Bhd, a local fashion brand with global reach, is hopeful its performance will improve this financial year as it introduces a more affordable selection to attract shoppers amid the challenging economic...

FBM KLCI futures underlying tone stays positive.
September 22, 2009... Byline: Bernard THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures spot month contract on Bursa Malaysia Derivatives closed at 1,221.50 last Friday with an increased open interest of 15,709 contracts. Upside-bias trading...

Proton heading for a brief consolidation.
September 22, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia tracked technical rebounds on Wall Street and regional stock markets last week. The FTSE Bursa Malysia Kuala Lumpur Composite Index continued to stay above its major psychological support of...

Active trading in govt bond market.
September 22, 2009... ON THE economic front, the inflation outlook remains benign, reinforcing our view that Bank Negara Malaysia is very likely to keep its Overnight Policy Rate unchanged at 2.00 per cent, at least until the first half of 2010. Headline inflation as...

Extended technical rebound likely.
September 22, 2009... Byline: W.Q. Mun LONG-TERM TREND - Bear market SHORT-TERM TREND - Technical rebound on renowned buying interest - Momentum Index: -325 - Relative Strength Index: 48 OBSERVATIONS: The Kuala Lumpur CPO futures market took a steep plunge at...

Kanesan is president of Scomi International.
September 19, 2009... SCOMI Group Bhd has appointed Kanesan Veluppillai (above) as president of its newly-formed Scomi International Pte Ltd, which is mandated to pursue growth opportunities in Brazil, China, India, the Gulf states and Indonesia. Kanesan will be...

FBM KLCI stays above key support.
September 19, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia rebounded in tandem with the follow-through rebounds on Wall Street and regional stock markets. The FTSE Bursa Malaysia Composite Index (FBM KLCI) continued to stay above its major...

Citigroup keeps 'sell' calls on IOI, KLK, IJM Plantations.
September 19, 2009... US BANK Citigroup has maintained its stand that investors should sell shares of IOI Corp Bhd, Kuala Lumpur Kepong Bhd (KLK) and IJM Plantations Bhd because they are already expensive relative to their forecast earnings. It also downgraded...

BNM reserves at RM329.9b.
September 19, 2009... THE international reserves of Bank Negara Malaysia totalled RM329.9 billion as at September 15. The reserves position is sufficient to finance 9.4 months of retained imports and is 3.8 times the short-term external debt.

Dutch Lady:Dairy product prices remain.
September 19, 2009... Byline: June Ramlee DUTCH Lady Milk Industries Bhd, the country's largest dairy company, said it is not increasing the prices of its milk powder products, despite the volatile prices of raw materials worldwide. Managing director Hans...

Malaysia on FTSE watch list for upgrade review.
September 19, 2009... Byline: Adeline Paul Raj FTSE Group, a leading glo-bal index provider, may upgrade Malaysia to "advanced emerging market" status, which will make stocks here more attractive to a wider group of international investors. Malaysia is...

Multimedia Display unveils its 'trump card'.
September 19, 2009... Byline: Sharen Kaur RADIO frequency identification (RFID) technology specialist Multimedia Display Technologies Sdn Bhd (MDT) is aiming for more than RM100 million in revenue by 2012, driven by its new green technology product, PaperCard. ...

The F1 quest: It's fast and furious but not clear.
September 19, 2009... Byline: Shahriman Johari ANYONE who has been to a Formula One race would know that it is an expensive sport. My first experience was the country's first race in 1999 and I wanted to buy a t-shirt to remember the occasion. I recalled looking...

August car sales up 2.8pc from a year ago.
September 18, 2009... MALAYSIA'S vehicle sales rose 2.8 per cent to 48,538 units in August from the same period a year ago, says the Malaysian Automotive Association (MAA). However, August sales this year dropped 6.5 per cent, or 3,390 units, from July. Vehicle...

BiotechCorp, UEM Land to develop biotech park.
September 18, 2009... Byline: Presenna Nambiar MALAYSIAN Biotechnology Corp Sdn Bhd (BiotechCorp) has teamed up with property developer UEM Land Holdings Bhd to jointly set up a biotechnology park in Nusajaya, Johor, with an initial investment of RM550 million. ...

Asia Media to spend RM50m to boost TV service on buses.
September 18, 2009... Byline: Azlan Abu Bakar ASIA Media Sdn Bhd plans to invest more than RM50 million over the next three years to upgrade its television service on buses, allowing it to broadcast live and interactive shows. It plans to complete the upgrade...

David Tan is Uni.Asia's COO.
September 18, 2009... GENERAL insurer Uni.Asia General Insurance Bhd has appointed David Tan as its new chief operating officer from September 7 2009. Tan has 30 years of experience in the insurance industry, including a succession of leadership roles in marketing,...

UN: Investment outflow from Malaysia up 26pc last year.
September 18, 2009... Byline: Rupa Damodaran MALAYSIA saw US$14.06 billion (US$1 = RM3.47) of investments flow out of the country last year, up 26 per cent from a year ago, according to a United Nations annual investment review. At the same time, foreign direct...

Don't let Proton slow down, it's a highway.
September 18, 2009... Byline: Shahriman Johari IF YOU are feeling a sense of deja vu, I don't blame you. The takeover speculation of national carmaker Proton Holdings Bhd, once the rage in 2006-2007, has resurfaced in the stock market. The potential buyers of...

Top directors cease to be main SAAG shareholders.
September 18, 2009... Byline: Francis Fernandez SAAG Consolidated (M) Bhd, an oil and gas support service provider, said two of its top directors are no longer substantial stakeholders in the company. Executive director Anand Subramanian and Loganathan...

They'll gaze into the future at Forbes conference.
September 18, 2009... THE global economic scenario for the next 12 months will take centre stage at the upcoming 9th annual Forbes Global CEO conference in Kuala Lumpur between September 28 and 30. Forbes Asia president and publisher William P. Adamopoulos said...

Days look numbered for Hicom-Chevrolet.
September 18, 2009... Byline: Zuraimi Abdullah THE staff of Hicom-Chevrolet Sdn Bhd have been informed that September 30 will be their last day of work as General Motors Corp (GM) finally severs its ties with DRB-HICOM Bhd to distribute Chevrolet vehicles here. ...

ING expects growth in mortgage portfolio.
September 18, 2009... Byline: Rupinder Singh ING Insurance Bhd anticipates its total mortgage portfolio to grow this year, backed by its latest fixed-rate home loan that offers the lowest rate. The insurer has had strong demand since it started offering a fixed...

Najib prefers to focus on the real issues.
September 18, 2009... Byline: Mustapha Kamil PRIME Minister Datuk Seri Najib Razak's refusal to be dragged into the dirty political mudslinging, but instead concentrate on meeting Malaysia's more important challenges, is noticed by his rivals who now think that...

Malaysia moves up to 5th spot in UK trade report.
September 18, 2009... MALAYSIA has been identified as one of the key markets for global investors, according to a new research published by UK Trade and Investment, a British government body. In the report revealed at the Economist Intelligence Unit's Emerging...

CME to help globalise Malaysian palm oil.
September 18, 2009... Byline: Adeline Paul Raj BURSA Malaysia Bhd has agreed, after over a year of negotiations, to sell a 25 per cent stake in its derivatives unit to CME Group Inc, the world's largest derivatives exchange. The stake sale, expected to be...

Manufacturing sales drop.
September 18, 2009... Byline: Rupa Damodaran MANUFACTURING sales dropped 22.4 per cent in July to RM42.2 billion from a year ago, as five major industries experienced big declines in sales. Sales in the refined petroleum products industry fell 25.3 per cent,...

Sime Darby, KPMG start mangrove replanting project on Carey Island.
September 18, 2009... SIME Darby Plantations Sdn Bhd and KPMG Malaysia are collaborating in a mangrove replanting project on Carey Island in Selangor. KPMG, an accounting giant, has contributed RM50,000 for the project as part of its corporate social...

Reverse takeover to be completed by January.
September 18, 2009... Byline: Chong Pooi Koon JOHN Master Industries Bhd, a clothing and property development company, said the reverse takeover exercise by a Chinese textile maker will be completed by the first quarter of next year. The company yesterday...

Robert Bosch to deepen investments in Penang.
September 18, 2009... Byline: Marina Emmanuel GLOBAL power tools and accessories giant Robert Bosch is set to continue with research and development investments in its Asia-Pacific facilities this year and Malaysia will be one of the beneficiaries. Apart from...

Seasaf adds infrastructure fund to its stable.
September 18, 2009... THE Southeast Asian Strategic Assets Fund (Seasaf), advised and managed by CIMB Standard, has completed buying Babcock & Brown's (B&B) interest in the Babcock & Brown Asia Infrastructure Fund (BBAIF). Seasaf will take over BBAIF's...

Genting Plantations breaks out of downtrend.
September 18, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia continue to rebound further in unison with rebounds on Wall Street and regional stock markets yesterday. Its overall advancing counters outpaced declining counters by 397 to 222. The FTSE...

Cosmopal raises investment to boost fertiliser production.
September 18, 2009... COSMOPAL Sdn Bhd, a goat breeder, has raised its investments by 17 per cent to boost the production of its bio-organic fertiliser factory by half. It will now invest RM3.5 million and this will expand its plant's capacity to 300 tonnes per...

Handal unit secures job.
September 18, 2009... HANDAL Resources Bhd, via its subsidiary Handal Offshore Services Sdn Bhd, has secured a RM1.5 million work order for rental of pedestal crane from Shapadu Energy and Engineering Sdn Bhd. The work is to provide lifting solution for D35 platform...

AEON Credit Q2 net profit increases 18.5pc.
September 18, 2009... AEON Credit Service (M) Bhd posted a 18.5 per cent increase in its second-quarter net profit, helped by its promotional activities and growth in consumer financing receivables and the number of credit cards issued. Net profit rose to RM13.49...