Business Times (Malaysia) articles from September 2009, page 4

Business Times (Malaysia) archives from September 2009

Foreign demand set to boost July IPI numbers.
September 9, 2009... Byline: Rupa Damodaran INDUSTRIAL production numbers are likely to pick up in July 2009 on foreign improved demand but last year's high base figures may weigh down the month's output. Economists polled by the Business Times expect the...

Tan Chong shares expected to ride on sales uptrend.
September 9, 2009... AMRESEARCH has raised its call on Tan Chong Motor Holdings Bhd's stock to "buy" on the carmaker's improved positioning to ride on an expected uptrend in the domestic automotive industry. The research house, which previously had a "hold"...

KDEB president stays on.
September 8, 2009... STATE-OWNED Kumpulan Darul Ehsan Bhd (KDEB) said it has renewed the contract of Datuk Abd Karim Munisar, making him the company's president for the sixth consecutive term. He is also the chairman of Kumpulan Prangsang Selangor Bhd and Kumpulan...

July exports down 22.8pc year-on-year.
September 8, 2009... Byline: Rupa Damodaran MALAYSIAN exports in July fell a better-than-expected 22.8 per cent from a year ago as major economies continued to reel from the global recession and the decline was made worse by the fact that 2008 was a good year for...

Mines Excellence plans 5-star hotels in Bukit Beruntung.
September 8, 2009... Byline: Sharen Kaur DEVELOPER Mines Excellence Golf Resort Bhd will build three five-star hotels within its RM3 billion Mines Golf City development in Bukit Beruntung, Selangor over the next three to four years. Founder Tan Sri Lee Kim Yew...

Maxis gets Astro network infrastructure contract.
September 8, 2009... MAXIS Communications Bhd has clinched a RM81 million contract with Measat Broadcast Network Systems Sdn Bhd to build and manage Astro's nationwide network infrastructure. Maxis will integrate data, voice and video services in Astro's network...

Govt tops up working capital guarantee scheme.
September 8, 2009... THE government has topped up a scheme to guarantee loans to fund a company's working capital by RM2 billion, bringing the total amount to RM7 billion. This was done due to overwhelming demand, said Syarikat Jaminan Pembiayaan Perniagaan Bhd...

Hypermarkets urged to increase percentage of local goods sold.
September 8, 2009... Byline: June Ramlee MAJOR hypermarkets have been asked to increase the percentage of Malaysian goods available on their shelves to 30 per cent by 2012 from the present 9 percent. Domestic Trade, Cooperative and Consumerism Minister Datuk Seri...

'SunCity faces challenge in selling high-end units'.
September 8, 2009... Byline: Chong Pooi Koon PROPERTY developer Sunway City Bhd (SunCity) faces a great challenge to sell a massive stock of RM1.2 billion houses, particularly the high-end projects in Mont Kiara and Bandar Sunway where sales have been slow,...

Allianz optimistic of growth prospects in H2.
September 8, 2009... Byline: Jeeva Arulampalam ALLIANZ Malaysia Bhd (AMB) is optimistic about its prospect in the second half of the year as the country's economic decline slows down and the insurance industry remains resilient. "Irrespective of how the market...

Cap-XX, NationGate in manufacturing pact.
September 8, 2009... Byline: Kamarul Yunus CAP-XX Ltd, which makes supercapacitors to power camera flashes in mobile phones, has entered into a contract manufacturing agreement with Penang-based NationGate Technology Sdn Bhd to serve as its contract manufacturer....

Hua Yang aims to be among top 10 players.
September 8, 2009... Byline: Goh Thean Eu PROPERTY developer Hua Yang Bhd aims to become one of the top 10 developers in the country within five years by offering more residential and commercial properties. "Currently, we are not even in the top 20 list. To be...

Naza duo, partners up offer for Jetson.
September 8, 2009... Byline: Shahriman Johari THE two Naza Group brothers and their partners have raised their offer for the rest of Kumpulan Jetson Bhd by 30 per cent, an indication that they want control of the construction and manufacturing group. So far,...

Nuclear option: Govt may decide by early 2010.
September 8, 2009... Byline: Zuraimi Abdullah MALAYSIA could decide by as early as next year if it will opt for nuclear energy, making it the country's sixth energy source, said Energy, Green Technology and Water Minister Datuk Peter Chin Fah Kui. Having a...

Recycle Energy may need 5 more years to break even.
September 8, 2009... Byline: Zuraimi Abdullah MMC Corp Bhd's subsidiary Recycle Energy Sdn Bhd says it may need another five years to recoup its nearly RM200 million investment on a renewable energy, waste processing and recycling facility in Semenyih. Recycle...

Carotech: No plans to sell business.
September 8, 2009... Byline: Ooi Tee Ching CAROTECH Bhd, a producer of palm oil nutrients, has received bids from foreign and local investors for its business, but its owner is not planning to sell. "We get queries from investors, both local and overseas, from...

MMC, MAS to launch new freighter flight.
September 8, 2009... MMC Corp Bhd said its unit Senai Airport Terminal Services Sdn Bhd has signed a deal with Malaysia Airlines Cargo Sdn Bhd to launch a new weekly freighter flight from Sultan Ismail Airport in Senai Johor to Narita, Japan. The service signals a...

Bank rewards customers for using ATM cards to shop.
September 8, 2009... Byline: Chong Pooi Koon CIMB BANK has launched a four-month campaign that will reward customers for using the automated teller machine (ATM) cards to pay for shopping, in a bid to spur cashless transactions. "Banks spend a lot of money to...

MRCB likely to stage follow-through rebound.
September 8, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia continued to stage their follow-through rebounds in tandem with the better performances on the regional stock markets yesterday. Overall advancing counters outpaced declining counters by 466 to...

Buying momentum key to upside.
September 7, 2009... Byline: Kaladher Govindan THE local stock market managed cautious recovery from a sell-off sparked by regional weakness led by the heavy correction in China, as the rebound on Wall Street from a four-day correction amidst better-than-expected...

BNP Paribas favours short-term bonds.
September 7, 2009... Byline: Chong Pooi Koon BNP PARIBAS Wealth Management, an investment adviser for wealthy individuals, says it continues to favour short-term investment grade corporate bonds rather than shares, believing the recent months' rally in stock...

Tradewinds, InterContinental terminate Mutiara contract.
September 7, 2009... Byline: Vasantha Ganesan PLANS to renovate and rebrand The Mutiara Beach Resort in Penang, which belongs to Tradewinds Corp Bhd (TCB), has been put off indefinitely. The 20-year-old property, which has been closed for some 41 months now...

Right business model is firm's tower of strength.
September 7, 2009... THE outsourcing and exclusive dealership business model, which was "coincidentally" developed due to cash flow shortage, has been the tower of strength for kitchen cabinet and wardrobe maker Signature International Bhd. Managing director and...

SMEs expected to make up 37pc of economy next year.
September 7, 2009... Byline: Rupinder Singh SME Corp Malaysia (SME Corp) expects small and medium enterprises (SMEs) to make up 37 per cent of the economy next year, up from 32 per cent now. It will continue to promote and develop SMEs in the manufacturing...

RM190m job bids to boost Signature's revenue.
September 7, 2009... Byline: Hamisah Hamid SIGNATURE International Bhd aims to grow revenue by more than 20 per cent for its current financial year as it bids for RM190 million worth of local and overseas projects. The company, which designs, manufactures and...

Report: India's NH plans RM150m hospital in Malaysia.
September 7, 2009... CARDIAC care hospital chain Narayana Hrudayalaya Group of Hospitals of India (NH) plans to invest about 200 crore (RM150 million) to set up a branch in Kuala Lumpur. According to news report from India, the hospital is eyeing a 400-bed...

Call to tap opportunities in Ivory Coast.
September 7, 2009... Byline: June Ramlee MALAYSIAN businessmen are encouraged to explore business opportunities in the emerging nation of the Republic of Cote d'lvoire, also known as the Ivory Coast. Its honorary consul to Malaysia Anthony Wong said there were...

KL to play key role in HDS' regional growth.
September 7, 2009... Byline: Rupinder Singh HITACHI Data Systems Corp (HDS), a wholly owned unit of Hitachi, Ltd, said it is committed to the Asia-Pacific region with Malaysia playing a central role to its growth. "We are very committed to the Asia- Pacific...

No more delays, says PKA chief.
September 7, 2009... Byline: Presenna Nambiar PORT Klang Authority (PKA) general manager Kee Lian Yong is confident the implementation of a policy to shorten the free container storage period in Port Klang won't be delayed again. "We have been running trials...

Active trading in govt bond market.
September 7, 2009... THERE is no major economic news in the local front, but we expect a similar need for the Malaysian government to continue its low interest rates and fiscal stimulus plans in the foreseeable future, as global economic recovery is still a fragile...

Dredging work to finish in Dec.
September 7, 2009... THE dredging of the south channel in Port Klang is expected to be completed in December this year. The south channel, which will be 16.5m deep and 500m wide once completed, is now between 60 and 70 per cent done "Initially, the plan was to...

Cash-rich AEON scraps REIT plan.
September 7, 2009... Byline: Vasantha Ganesan RETAILER and mall operator AEON Co (M) Bhd has scrapped its plan to set up a property trust, one of the company's options to raise funds, as it has enough cash to expand. Managing director Nagahisa Oyama said it...

Signature aims for RM1b revenue.
September 7, 2009... Byline: Hamisah Hamid KITCHEN cabinet and wardrobe maker Signature International Bhd is confident it will reach RM1 billion in revenue, driven by its business model of appointing exclusive dealers and outsourcing manufacturing. Managing...

BLand expects RM150m from Seputeh project.
September 7, 2009... Byline: Sharen Kaur BERJAYA Land Bhd, a unit of Berjaya Corp Bhd, expects to rake in RM150 million in sales from its Vastana25 bungalow and villa boutique development in Taman Seputeh in Old Klang Road, Kuala Lumpur. Vastana25, which has...

July exports likely to be lower.
September 7, 2009... Byline: Rupa Damodaran MALAYSIA'S exports in July are expected to be lower from a year ago as major economies continue to be weak while lower commodity prices would also be a factor. Malaysia's major export markets are Singapore, the US,...

MISC expands Halal Express Service with new loop.
September 7, 2009... PLANS are afoot to connect MISC Bhd's current transhipment of halal products from countries in the Far East such as Japan and China to India and the Middle East. MISC will launch a new service to complement its current Halal Express Service -...

FBM KLCI futures likely to hold above 1,150 level.
September 7, 2009... Byline: Bernard THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures September contract on the Bursa Malaysia Derivatives Berhad closed higher at 1,182 last Friday with an open interest of 14,326 contracts. The...

Borneo Aqua Harvest will continue to uptrend.
September 7, 2009... Byline: S.N. Lock ONCE again, share prices on Bursa Malaysia consolidated within range-bound trading activities in line with the mixed performances on the regional stock markets last week. The FBM KLCI continued to stay above its critical...

Downturn yet to touch bottom level.
September 7, 2009... Byline: W.Q. Mun THE Kuala Lumpur CPO futures market had a big fall last week. The benchmark November 2009 contract plunged to a five-week low of RM2,197, and there was where it settled last Friday, down a whopping RM169 or 7.14 per cent...

Lifetime achievement award for Nazir.
September 5, 2009... DATUK Seri Nazir Razak, group chief executive of CIMB Group, Malaysia's second biggest banking group, won the prestigious "Lifetime Achievement Award" for his contribution to the Asian banking and finance industry. The award, previously won...

Naza plans to open 3 more Bubba Gump outlets soon.
September 5, 2009... Byline: Azlan Abu Bakar NAZA Group's food and beverage outfit NZ Diners Sdn Bhd expects to open another three Bubba Gump Shrimp Co restaurants soon. Without giving any specific time frame, its general manager for operations Rizal Ross said...

Recovery likely to be gradual, says Stanchart.
September 5, 2009... Byline: Rupa Damodaran ALTHOUGH Malaysia appears to be past the worst of the current downturn, recovery is likely to be gradual as the major economies of the world are still weak, said Standard Chartered Bank (Stanchart). It is also...

Furniture sector set to hit RM10b sales in 2010.
September 5, 2009... Byline: Zaidi Isham Ismail DESPITE the global economic slowdown, Malaysia's furniture industry is on track to hit RM10 billion sales in 2010 as worldwide demand recovers. There are also renewed orders from global furniture retailers and...

No deferment of plane deliveries, says AirAsia X.
September 5, 2009... Byline: Presenna Nambiar BUDGET long-haul carrier AirAsia X has no plans to defer the delivery of its planes, despite its parent doing so in anticipation of a possible delay in the construction of the new low-cost carrier terminal. "No (we...

The millennium belongs to Asia.
September 5, 2009... Byline: Datuk Vijay Eswaran THE common threads holding Asia together are its values and work ethic, making it very attractive for the West to do business here. It is definitely one of the chief reasons why we must capitalise on these...

Plan to make Malaysia Abt's top mart in the region.
September 5, 2009... Byline: Zuraimi Abdullah CARTRADE-ABT, the sole distributor for Germany's Abt Sportsline performance products for Volkswagen and Audi cars in Malaysia, has launched Abt tuning packages for two new Volkswagen models. Cartrade-Abt, a...

Amrin, Fateh on board NSTP, MPB.
September 5, 2009... THE New Straits Times Press (Malaysia) Bhd (NSTP) and Media Prima Bhd (MPB) yesterday announced the appointment of new directors. Joining NSTP are Datuk Amrin Awaluddin as a non-independent, non-executive director and Datuk Fateh Iskandar Tan...

AmResearch revises call on YTL Power stock.
September 5, 2009... Byline: Zuraimi Abdullah YTL Power International Bhd has been downgraded to "sell" from "hold" by AmReserach Sdn Bhd on concerns over funding risks for its WiMAX (Worldwide Interoperability for Microwave Access) investment. "While no...

Ekuinas to invest in 6 months.
September 5, 2009... Byline: Adeline Paul Raj EKUITI Nasional Bhd (Ekuinas), a private equity fund management firm set up to boost Bumiputera participation in the economy, will start making investments in unlisted Malaysian companies in six months, its chief...

High-tech park job.
September 5, 2009... MMC Corp Bhd, a ports and power plant operator, has been notified by the Ministry of International Trade and Industry to proceed and develop the country's second high-tech park, known as the Senai High Tech Park. The park is adjacent to the...

Sumatec to divest.
September 5, 2009... SUMATEC Resources Bhd plans to sell its shipping business under the Semua Group for RM77 million in cash and shares to help cut debt and fund working capital. The buyer is the management of Semua, backed by private equity firm Ethos Capital One...

Tanjung wins contract.
September 5, 2009... TANJUNG Offshore Bhd has won a RM15 million contract to provide rigless abandonment equipment and services to Talisman Malaysia Ltd. Work is due to be completed by the end of December 2009, it said in a statement to Bursa Malaysia.

Citi Foundation grants.
September 5, 2009... IN OUR report titled "TV joint venture to promote financial education" yesterday, we said that since 2004, the Citi Foundation has released a total of US$1.3 million (RM4.6 million) grants to develop microfinance and micro-enterprise activities...

Magna to buy land.
September 5, 2009... PROPERTY developer Magna Prima Bhd has agreed to buy two parcels of land in the Klang Valley from Petaling Garden Sdn Bhd for RM48.5 million cash, for future development. The first parcel is a 204,782 sq ft vacant land in Kuala Lumpur while the...

Index may trend within range-bound activities.
September 5, 2009... Byline: S.N. Lock SHARE prices on Bursa Malaysia continued to consolidate within range-bound trading activities throughout the last four trading days. The FTSE Bursa Malaysia Composite Index (FBM KLCI) continued to stay above its critical...

Volvo celebrates 50 years of belting up to save lives.
September 5, 2009... Byline: Zuraimi Abdullah THE most important automobile safety device invented is the three-point safety belt and this year, its inventor Volvo celebrates the life-saving device's 50th birthday. The device was created by Volvo engineer Nils...

Ekuinas vows investment transparency.
September 5, 2009... Byline: Adeline Paul Raj EKUITI Nasional Bhd (Ekuinas) will strive to be as transparent as it can on its investments as long as it doesn't jeopardise its competitiveness, its chief said. The private equity (PE) firm, set up by the...

Anyone watching Indonesia?
September 5, 2009... Byline: Mustapha Kamil SOMEHOW, President Susilo Bambang Yudhoyono seems to be doing a fine job in prompting Indonesians to get their acts together. The results are showing. From a choking dictatorship that it once was, Susilo has led...

High-level govt body to help develop Bumi entrepreneurs.
September 5, 2009... Byline: Hamidah Atan THE government will form a high-level body to help develop Bumiputera entrepreneurs who are at the early stages of their businesses, says Prime Minister Datuk Seri Najib Razak. This committee will report to the prime...

Affin: Stock mart index will hit 1,264 by year-end.
September 5, 2009... AFFIN Fund Management Bhd is confident that the country's benchmark stock market index will hit 1,264 points by the year-end, helped by ample liquidity and improved sentiment. The target is 8 per cent higher than its previous forecast of...

California Fitness sells 3 clubs.
September 4, 2009... GYMNASIUM operator California Fitness has sold three clubs in Malaysia to Celebrity Fitness but it will keep a yoga club to realign its resources. The three clubs sold are in Mid Valley Megamall and Lot 10 in Kuala Lumpur and Sunway Pyramid...

Stock market boost to EPF's Q2 income.
September 4, 2009... THE Employees Provident Fund (EPF) said investment income for the second three months this year jumped 46.6 per cent from the first quarter as it made more money from the stock market. "While we cannot say the worst is over, should this trend...

TV joint venture to promote financial education.
September 4, 2009... THE Citi Foundation, a charitable organisation under US bank Citi, has teamed up with Consumers International (CI) and Radio Television Malaysia (RTM) to develop a television programme on financial education. "Stretching Your Ringgit"...

Glomac eyes more land in Cyberjaya.
September 4, 2009... Byline: Sharen Kaur DEVELOPER Glomac Bhd might buy more land in Cyberjaya, Selangor following the success of its RM180 million flagship Glomac Cyberjaya project. The first phase of Glomac Cyberjaya, comprising 39 units of three-storey and...

Foreign firms pledge RM700m investment in halal parks.
September 4, 2009... Byline: Kamarul Yunus FOREIGN investors have promised to invest RM700 million to build factories and warehouses at designated halal parks in Malaysia, says Halal Industry Development Corp (HDC). HDC vice-president of industry development...

Sedania aims to venture into 16 nations by next year.
September 4, 2009... Byline: Azlan Abu Bakar SEDANIA Corp Sdn Bhd, a Malaysian-based telecommunication equipment and mobile services provider, expects to venture into up to 16 countries in the Asia-Pacific region by the end of 2010 with its prepaid subscriber...

BoB plans full-fledged presence here.
September 4, 2009... Byline: Rupa Damodaran INDIA'S Bank of Baroda (BoB) has denied reports that it plans to buy a bank in Malaysia but said it is wrapping up a deal to set up a full-fledged presence here. BoB, which has a representative office in Kuala...

HTC Corp expects robust sales for latest smartphone.
September 4, 2009... Byline: June Ramlee HTC Corp, a Taiwanese handphone maker, has launched its latest product, the HTC Hero, as it banks on the growing demand for smartphones in Malaysia. "We expect robust sales. Our projected sales for this model is several...

Mitsubishi aims to sell 20pc more of improved Tritons.
September 4, 2009... Byline: Sharen Kaur MITSUBISHI Motors Malaysia Sdn Bhd, aims to sell 20 per cent more of its pick-up truck, the Triton, following improvements made to the four variants. Chief executive officer Keizo Ono said Mitsubishi Motors targets to...

PKA sticks to 10pc throughput decline target.
September 4, 2009... THE Port Klang Authority (PKA) maintains its target of a 10 per cent decline in container throughput this year, despite seeing a much worse 15.4 per cent fall in the first half of the year. Northport (Malaysia) Bhd and Westports Malaysia Sdn...

HLTM confident new plan will rake in RM88.5m sales.
September 4, 2009... Byline: Rupinder Singh HONG Leong Tokio Marine (HLTM) Takaful is confident that its newly launched Global Recovery Income Plan (GRIP) will notch A$30 million (RM88.5 million) in sales over the next 45 days. The syariah compliant GRIP, is a...

PKFZ turnaround plan in Nov.
September 4, 2009... Byline: Presenna Nambiar THE Port Klang Authority (PKA) will announce a business turnaround plan for Port Klang Free Zone (PKFZ) in November, after securing the necessary support and approvals from all stakeholders. The plan will focus on...

Banks poised to pay higher dividends in 2010: Analysts.
September 4, 2009... Byline: Adeline Paul Raj BANKS, most of which turned in better-than-expected financial results in the April-to-June quarter, are likely to pay higher dividends next year on growing excess capital, analysts said. This is provided that bad...

Hartalega to increase glove prices.
September 4, 2009... Byline: Ooi Tee Ching MALAYSIA'S largest synthetic glovemaker Hartalega Holdings Bhd will raise glove prices this month onwards, as it hopes to maintain profit margins. The company has been absorbing rising latex cost in the last six...

PM: More Felda corporate exercises in the pipeline.
September 4, 2009... Byline: Goh Thean Eu THE government did not rule out the possibility of Felda Holdings Bhd buying a 21.1 per cent stake in Tradewinds (M) Bhd from Grenfell Holdings Sdn Bhd, a firm linked to Tan Sri Robert Kuok. "Those corporate exercises,...

Bank expects E&O to return to the black this year.
September 4, 2009... Byline: Francis Fernandez EASTERN & Oriental Bhd (E&O), a high-end property developer, could return to the black in the current financial year and stay profitable for the next three years, CIMB Investment Bank Bhd said in a report...

Minetech shareholding.
September 4, 2009... HSBC Holdings Plc has been a substantial shareholder of Minetech Resources Bhd, a quarry operator and aggregates producer, since January last year. HSBC International Trustee Ltd in Singapore had bought 24.5 million shares, or 8.11 per cent of...

Sime Darby buys fabrication yard.
September 4, 2009... SIME Darby Engineering Sdn Bhd, an indirect wholly-owned subsidiary of Sime Darby Bhd, will buy the Teluk Ramunia fabrication yard from Ramunia Holdings Bhd and Ramunia Optima Sdn Bhd for RM530 million. Sime Darby told Bursa Malaysia Bhd that...

Caexpo to feature quality machinery, vehicles.
September 4, 2009... THE Sixth China-Asean Expo (Caexpo) will feature quality engineering machinery and transportation vehicles and this would be attractive for Malaysian businesses that want to find suitable partners in these sectors. The 6th Caexpo will be held...

MSC sells 30pc Rapu Rapu stake.
September 4, 2009... MALAYSIA Smelting Corp Bhd (MSC) said it will sell its 30 per cent stake in the Rapu Rapu polymetallic project in Philippines which it bought on April 17 last year. This is another non-tin asset that MSC is planning to sell apart from the...

Rehda Penang seeks aid for first-time house buyers.
September 3, 2009... Byline: Marina Emmanuel A RM10,000 grant for first-time buyers of affordable homes is being proposed by Penang property players to the government for consideration in Budget 2010. Real Estate and Housing Developers' Association, Penang...

AMDB set to become a focused entity.
September 3, 2009... Byline: Azlan Abu Bakar DIVERSIFIED AMDB Bhd expects to complete its transformation into a focused entity specialising in property, engineering and infrastructure operations before the end of the month. Its chief executive officer Ben Lee...

No Felda offer yet for stake in Tradewinds, says Grenfell.
September 3, 2009... GRENFELL Holdings Sdn Bhd has yet to receive an offer from Felda Holdings Bhd for its shares in Tradewinds (M) Bhd, a plantation company and sugar refiner. The Edge business weekly reported that Felda could buy 21 per cent of Tradewinds from...

IPS aims to build an e-money community.
September 3, 2009... IPS Sdn Bhd, which bought electronic money provider MEPSCASH two years ago, wants to focus on online transactions using e-money as its next strategy. "We're bringing the use of e-money to where it is needed most - transactions that require...