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 YTL defends power plan |
Tue 06-01-2009, 10:44 AM - by Vivian
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"The proposal to invest almost RM4 billion for a new 1,200-megawatt plant could help boost the slowing economy and create jobs, a source says
MALAYSIA could see a wave of fresh investments to the tune of billions of ringgit by independent power producers (IPPs) if the government lets them extend existing contracts and build new power plants..
A source close to YTL Power International Bhd (4677) said the proposal it submitted to the government last year could help boost the slowing economy and create jobs.
YTL Power has proposed to invest almost RM4 billion, assuming it can build a new 1,200-megawatt plant, to replace its ageing plants.
The source explained that the proposal was not to double YTL Power's capacity but rather for the group to maintain its... [Read More]
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0 Replies | 9,411 Views
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Astro targets 12pc rise in subscribers |
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Fri 05-10-2007, 2:20 PM - by Vivian
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 "ASTRO All Asia Networks plc aims to increase subscribers by as much as 12 per cent this year by adding programmes.
The company, controlled by Malaysia's second richest man, T. Ananda Krishnan, expects as many as 250,000 new subscribers in Malaysia after having added 30 channels in the past year, Rohana Rozhan, chief executive of Astro's local unit, told reporters in Kuala Lumpur yesterday.
Astro, which offers 107 channels, added content and channels to boost sales at home and make up for losses overseas. Astro turned to a loss of RM54.2 million in the second quarter after setting aside more provisions for its Indonesian operations.
The new channels in Malay, Chinese and Tamil languages "offer more value proposition and give customers more choice", said... [Read More]
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0 Replies | 1,006 Views
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StanChart expects good loan growth this year |
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Tue 04-09-2007, 4:38 PM - by Stockist
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"STANDARD Chartered Bank Malaysia Bhd expects to register fairly good loan growth this year as it grabs the opportunity arising from the stable local mortgage market.
 Malaysia, said the bank's country head consumer banking Shyam Srinivasan, "is the bank's home loan country" due to the high savings rate and the stable mortgage market.
"If we look at the industry in the first half of this year loan growth has been good and we expect continued good momentum uptake this year," he said.
Shyam said the growth is expected to be triggered by the number of new property launches so far this year, coupled with the recent government relaxation, added with the good economy Malaysia is experiencing.
"We expect commercial loans will be boosted too by... [Read More]
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0 Replies | 690 Views
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Proton Persona Launched |
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Fri 17-08-2007, 7:11 PM - by Vivian
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 "With the introduction of its Persona sedan today, Proton is hoping to quietly go about winning over Malaysian consumers again with the latest addition to its family. In many ways, the vehicle is arguably the most important card the company has played, and represents, in its own words, a manifestation of the changes and transformation that have taken place at the company.
Proton is positioning the Persona – which bases its workings around the GEN.2 hatch platform, with 70% commonisation of parts – as an entry-level sedan, but is targeting a wide spectrum of buyers for the vehicle, the direct replacement for the ageing Wira, of which production has finally ceased.
The Persona is available in Base, Medium and High Line model form, with a choice of F5M41... [Read More]
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0 Replies | 4,766 Views
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Tune Hotels in tie-up talks with foreign financial institution |
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Mon 09-07-2007, 3:42 PM - by Stockist
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"TUNE Hotels Sdn Bhd is in talks to set up a joint venture with a foreign financial institution with a fund of some US$25 million (RM86.3 million) to expand Tune Hotels.com.
Its director Dennis Melka said an announcement is likely to be made within the next five to six weeks.
"We are talking to a multinational foreign financial institution to provide funding for hotel developments in cities in Southeast Asia," Melka said.
"The US$25 million (RM86.3 million) fund size will translate into over US$75 million (RM259 million) in gross investments," he told Business Times in a telephone interview.
He added that the fund would be enough to set up 12 hotels. Tune Hotels.com plans to have a 20 per cent stake in the joint-venture... [Read More]
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0 Replies | 729 Views
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Nestle pumping RM100m into Shah Alam facility |
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Mon 09-07-2007, 2:29 PM - by Vivian
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"NESTLE (Malaysia Bhd) is pumping RM100 million new investment to strengthen capabilities of its production complex in Shah Alam, Selangor.
Already a synonymous name with nutritional food in Malaysia, the investment is to improve technology and manufacturing facilities at the complex.
Half of the RM100 million is going towards Nestle's new line for manufacturing of instant noodle while the rest would be spent on upgrading its regional production complex, also in Shah Alam.
The new instant noodle line will use an air-dried technology to manufacture instant noodles that contain up to 80 per cent less fat and about 25 per cent less sodium.
Parent company Nestle SA chairman and chief executive officer Peter Brabeck-Lemathe, who was in town over the... [Read More]
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0 Replies | 793 Views
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0 Replies | 544 Views
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19 Young Boy Launches 500K Website |
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Wed 20-06-2007, 6:11 PM - by ahfung923
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A Malaysian entrepreneur aims to make RM500,000 by 5000 Boxes of internet ad space for RM100 each. Kenneth Foo, 19, begins his new business and hopes his '500K Website' will attract big-spending advertisers.
A 19-year-old Malaysian entrepreneur is hoping to run a business by himself - and become a “HALF” millionaire in the process - by selling 5000 Boxes of ad space for RM100 each on his website's homepage.
Kenneth Foo, from Sabah, Malaysia, set up 500kboxie.com after being inspired and motivate by a western entrepreneur. “I always wanted to build my own business when I’m 17, and I hate being employed. So I tried different ways to pay salary for myself from the website, until now I had made over RM3500 alone starting with just only RM200”
Despite his site having only been online for 2... [Read More]
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0 Replies | 906 Views
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Berjaya Capital privatisation will boost BCorp: Analysts |
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Tue 15-05-2007, 6:39 PM - by Stockist
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"BERJAYA Corp Bhd's (BCorp) plan to take private its subsidiary Berjaya Capital Bhd could help strengthen the holding company's financial standing after the exercise, analysts said. 
They said Berjaya Capital was a thinly-traded stock which did not garner too much attention from investors, but its healthy cash flow could help strengthen BCorp after the planned delisting.
Based on Berjaya Capital's last closing price of RM2.44, BCorp will have to pay RM115.7 million to buy the remaining 34.78 per cent it does not own before taking the subsidiary private.
"If it's a good company, taking it private will let the owner subsequently enhance its value," Phillip Capital Management Sdn Bhd chief investment officer Ang Kok Heng said.
"Berjaya Capital... [Read More]
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0 Replies | 1,077 Views
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Perodua rolls out Viva |
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Fri 11-05-2007, 12:00 PM - by Stockist
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"PERUSAHAAN Otomobil Kedua Sdn Bhd (Perodua) expects sales of its newly launched compact car, Viva, to hit 6,500 units a month.
Chairman Tan Sri Asmat Kamaludin said a total of 58,900 units of Perodua Viva will be produced between April and December this year.
The national carmaker anticipates its latest model to be as successful as the Myvi introduced in May 2005.
"With the launch of Viva, our performance will be sustainable and we will have another successful year. Despite the drop in industry sales volume, Perodua continued to do better with our market share increasing to 52.9 per cent in March 2007 from 31 per cent in March 2006," he said at the launch in Kuala Lumpur last night.[Read More]
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4 Replies | 1,732 Views
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DiGi open to broadband acquisition |
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Wed 09-05-2007, 4:39 PM - by Vivian
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"THE country's fastest growing mobile operator DiGi.Com Bhd may buy rivals to expand into the broadband business.
"We are not against any acquisitions, but we are not on an acquisition hunt either," DiGi chief executive officer Morten Lundal said.
"We're looking at a long-term situation and we would like to have a broadband platform.
"We'll seek spectrums and we'll look at partnerships. When it arrives in a positive way for us, we'll go further," Lundal said after its annual general meeting in Kuala Lumpur yesterday.
Lundal did not disclose the company's name nor when talks will be held.
There has been speculation that one of the potential suitors for DiGi could be Time dotCom Bhd, which owns fibre optic networks and a... [Read More]
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1 Reply | 839 Views
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Man Utd's Asia tour at risk as Malaysia pulls out |
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Wed 09-05-2007, 1:37 PM - by Stockist
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"KUALA LUMPUR (AFP) - Malaysian authorities caved into pressure from the Asian Football Confederation (AFC) Tuesday and ruled out Manchester United playing in the country in July, throwing their Asian tour into chaos.
The vice president of the Football Association of Malaysia (FAM) Tengku Abdullah Ibni Sultan Ahmad Shah joined AFC president Mohammed bin Hammam in calling for United's entire pre-season commercial tour to be called off.
Manchester United are also due to play in Macau, Japan and South Korea.
"If they want to come during that time they can't," he told reporters on the sidelines of the AFC Congress here.
"The sanction has not been given by the AFC and we have to follow it. Manchester United cannot come to Malaysia during... [Read More]
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2 Replies | 866 Views
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Maxis deal spells boom for India's Aircel: Analysts |
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Fri 04-05-2007, 6:12 PM - by Vivian
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"NEW DELHI: Tycoon T. Ananda Krishnan's plans to buy out Maxis Communications, the country's largest mobile operator, will boost the company's plans for India, says a report in the financial daily, the Economic Times, quoting analysts.
  
Ananda, says the report, owns under 48 per cent of Maxis, which has a controlling stake (74 per cent) in Aircel, India's fifth largest GSM player with over five million subscribers.
"Aircel stands to gain heavily as Ananda may look at re-listing Maxis offshore to raise foreign capital, while also infusing his personal wealth to fund international expansion.
"Considering... [Read More]
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5 Replies | 1,051 Views
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Get out of debt! |
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Fri 27-04-2007, 12:50 PM - by Administrator
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"CREDIT Counselling and Debt Management Agency, a wholly-owned subsidiary of Bank Negara Malaysia, wants to reach out to each and every 26.9 million Malaysians for financial management education.
 
It has conducted road shows, talks, workshops and briefings targeted at the public, university students, corporations and government agencies to ensure that Malaysians are aware of its existence and services that it offers.
For the one-year-old agency, which is known by its Malay acronym AKPK (Agensi Kaunseling dan Pengurusan Kredit) its efforts may have paid off.
Over 21,000 Malaysians have knocked on its doors in the past 12 months, seeking services such as credit counseling, advice on financial management, basic money management skills... [Read More]
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0 Replies | 1,336 Views
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Mall management to drive Parkson growth |
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Mon 23-04-2007, 3:38 PM - by Vivian
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"THE Lion Group's local retail arm, Parkson Corp Sdn Bhd, has identified shopping complex management as its next growth driver in Malaysia.
The RM1 billion company has secured a shopping complex management deal and has started discussions with two developers for potential mall management jobs.
"We are talking to two others in Peninsular Malaysia ... but these are still in the exploratory stage," chief operating officer Toh Peng Koon said.
"We can either lease the entire complex from a developer, do a joint development with the developer or collaborate with another party to develop the complex then lease it to us," he told Business Times in an interview.
Parkson targets to manage a chain of shopping centres in the future. There are only a handful of successful... [Read More]
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0 Replies | 740 Views
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» Upcoming Events |
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» Latest News |
| CGC, CIMB link up in green tech scheme |
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Mar 11, 9:58 AM
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CREDIT Guarantee Corp Malaysia Bhd (CGC), a leading credit guarantee provider, has partnered CIMB Bank Bhd to promote and offer its green technology financing scheme (GTFS) to companies that supply and utilise green technology. CGC, one of the two implementation agencies, is spearheading the marketing and promotion of GTFS. CIMB Bank, the country's second biggest lender based on asset, will provide up to RM150 million in financing under the scheme. In a statement issued yesterday, CGC said it is committed to a three-day turnaround time to process GTFS applications received from CIMB Bank. "We are confident that this three-day turnaround commitment will help to further expedite the approval and disbursement of the funds to borrowers, a special arrangement that we have made with CIMB Bank in view of their participation in supporting the GTFS. The bank is the first to do so in Malaysia," said CGC managing director Datuk Wan Azhar Wan Ahmad. CGC has been mandated to provide 60 per cent guarantee to borrowers of GTFS, effectively covering RM900 million out of the total RM1.5 billion established by the government to improve the supply and utilisation of green technology. The remaining 40 per cent financing risk will be borne by the participating financial institutions. Response to the GTFS has been encouraging, with more than 470 companies having registered with the National Green Technology Centre and enquired about loans under the scheme. The scheme, launched by Prime Minister Datuk Seri Najib Razak on January 26 this year, is expected to provide benefits to more than 140 companies within the next two to three years.
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| Memorable evening awaits corporate captains |
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Mar 11, 9:58 AM
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THE 2009 Malaysia's CEO of the Year award night tomorrow promises to be a memorable evening as the heads of leading corporate entities gather to witness one of their own being honoured by the Prime Minister himself. Organised jointly by Business Times and Maybank, the issuer of the American Express charge and credit cards, the award seeks to recognise excellence among the top corporate figures of the country. "The award has come a long way and now stands as one of the most prominent recognitions in corporate Malaysia," said The New Straits Times Press (Malaysia) Bhd chief executive officer Datuk Anthony Bujang. He added that the award carried a strong heritage with an impressive lineup of past winners who include Datuk Seri Tony Fernandes, Tan Sri Jeffrey Cheah, and Datuk Dr Abdul Halim Harun among others. This year's winner has impressed a panel of six judges to come out ahead of 117 other nominees in 16 different industries. The award night will honour and showcase the achievements and practices of this deserving corporate leader. The winner will take home the trophy, a platinum card from American Express with a special bonus of one million membership rewards points, a framed Business Times front page mock-up, an Epos watch by WooHing and a bouquet of Patchi chocolates. Guests will be hosted by entertainer Soo Kui Jien with performances by singer Syafinaz Selamat.
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| Double-digit expansion in Malaysia industrial output seen |
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Mar 11, 9:58 AM
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MALAYSIA'S industrial production is expected to return to double-digit growth in January after almost five years, in line with the sharp growth in exports, say economists. A Business Times poll of 17 economists expects a 11 per cent year-on-year growth for January. The Statistics Department is expected to release the details today. Standard Chartered Bank economist Alvin Liew said the industrial production index (IPI) for January may post its first double-digit growth since October 2004. "The good reading is due to favourable base effects, the revival of external demand and the Chinese New Year effect as the festive holidays fell in January in 2009," he added. Citi said the expansion phase will continue from December's numbers, reflecting favourable base effects and a more defined manufacturing/exports recovery. "We are expecting a continued strong year-on-year growth in manufacturing IP from December's 12.9 per cent on continued inventory re-stocking, possible reversal to positive year-on-year growth for mining from -0.2 in December and consistently robust growth in electricity IP (from December's 14.1 per cent)." OCBC economist Selena Ling said Malaysian economic indicators have been playing catch-up of late to the global recovery story, with Bank Negara Malaysia kick-starting the interest rate-hike cycle in Asia. "The IP data should continue to improve as global purchasing managers' indices (indicators for the health of manufacturing sector) remain robust, aided by the low base last year," she said.
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| Chamber targets US$2b investments from China |
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Mar 11, 9:58 AM
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THE Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is targeting to attract US$2 billion (RM6.64 billion) in foreign direct investments (FDIs) from China this year.ACCCIM president Tan Sri William Cheng said the chamber has set the target to help Malaysia achieve its goal of becoming a high-income nation.Separately, ACCCIM has set up a special committee to help non-Chinese upgrade their living standards and to assist small and medium-sized enterprises (SMEs)."We are planning to provide courses for businessmen of other races to learn how to start direct sales and bird nest businesses. "We also promote various Malaysian products through Parkson retail chains in China and Vietnam," Cheng said at the ACCCIM's Chinese New Year grand dinner in Kuala Lumpur last night. Prime Minister Datuk Seri Najib Razak and his wife Datin Seri Rosmah Mansor graced the dinner. Addressing over 3,000 guests, Cheng outlined several ACCCIM proposals to increase the country's earnings. He suggested that the government open mining land for development by big enterprises to arrest the 3-4 per cent annual drop in mining revenue as well as allocate more agricultural land for farmers to reduce the food import bill. He also proposed that more plantation land be allocated to people of all races to increase oil palm yield. "At present, the national average yield of crude palm oil is 4 tonnes per hectare. If the yield can achieve 6 tonnes per hectare, Malaysia will enjoy an additional RM30 billion in export earnings," he said. Cheng suggested that special rewards be given to inventors of new equipment to upgrade production operations such as speeding up oil palm harvesting and rubber tapping. "This will reduce the dependence on foreign labour," he said. ACCCIM proposed that statistics on imports and exports be made available and accessible on the Customs website because the information from Statistics Department is delayed for two to three months.
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| Services sector a major contributor to growth |
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Mar 11, 9:58 AM
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THE services sector's contribution to the Malaysian economy is expected to surpass 60 per cent this year, says the country's investment promotion agency. The services sector contributed 57.4 per cent to the gross domestic product (GDP) in 2009, from 54 per cent in 2008. Malaysian Industrial Development Authority (Mida) director-general Datuk Jalilah Baba said the sector has increasingly become a major contributor to the country's GDP growth over the years, despite the global economic slowdown. "Given the growing importance of services and its expectation to account for a substantial percentage of consumer spending, we foresee that the sector can cross the 60 per cent contribution mark," she said. Jalilah was speaking to reporters after opening a three-day national seminar on "Statistics of International Trade in Services" in Kuala Lumpur yesterday. Jalilah said the figure could be much higher as some foreign direct investments were not reported or "shared" by the relevant ministries, departments and agencies. For instance, some joint ventures and equity acquisitions by foreign companies were not included into the major data compilation as they "stayed with certain agencies". In this regard, Mida, together with the Commonwealth Secretariat and the World Trade Organisation (WTO), have organised a national seminar, the first to be held among developing nations of the Commonwealth grouping, so that the method of compilation and producing statistics comform to the international standards. Jalilah said the WTO and the Commonwealth Secretariat were called in to assist so that Malaysia would be in line with the method of compilation and producing statistics of international standards. "With the assistance of the international consultants, we foresee that we would be able to meet the international standards of producing and compiling statistics in two years," she added. This seminar, the first phase of the Commonwealth Secretariat's technical assistance, has a two-year term to help Malaysia work out a framework to improve the quality of compiled services statistics and help fill an important gap in the development of services competitiveness in the country.
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