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 YTL defends power plan |
Tue 06-01-2009, 9:44 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 | 2,361 Views
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Astro targets 12pc rise in subscribers |
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Fri 05-10-2007, 1:20 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 | 503 Views
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StanChart expects good loan growth this year |
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Tue 04-09-2007, 3:38 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 | 298 Views
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Proton Persona Launched |
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Fri 17-08-2007, 6:11 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 | 1,365 Views
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Tune Hotels in tie-up talks with foreign financial institution |
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Mon 09-07-2007, 2:42 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 | 330 Views
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Nestle pumping RM100m into Shah Alam facility |
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Mon 09-07-2007, 1:29 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 | 416 Views
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0 Replies | 286 Views
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19 Young Boy Launches 500K Website |
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Wed 20-06-2007, 5:11 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 | 488 Views
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Berjaya Capital privatisation will boost BCorp: Analysts |
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Tue 15-05-2007, 5:39 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 | 557 Views
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Perodua rolls out Viva |
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Fri 11-05-2007, 11:00 AM - 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 | 876 Views
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DiGi open to broadband acquisition |
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Wed 09-05-2007, 3:39 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 | 460 Views
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Man Utd's Asia tour at risk as Malaysia pulls out |
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Wed 09-05-2007, 12:37 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 | 447 Views
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Maxis deal spells boom for India's Aircel: Analysts |
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Fri 04-05-2007, 5:12 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 | 542 Views
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Get out of debt! |
Fri 27-04-2007, 11:50 AM - 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 | 523 Views
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Mall management to drive Parkson growth |
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Mon 23-04-2007, 2:38 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 | 367 Views
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» Upcoming Events |
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» Latest News |
| Have you planned to pass the baton? |
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Jul 04, 9:30 AM
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"It's part of my own philosophy that there comes a time when you need to hand over the baton for the next guy to run." - IJM Corp Bhd chief executive officer Datuk Krishnan Tan.
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| What makes ETFs attractive |
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Jul 04, 9:30 AM
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EXCHANGE-TRADED funds (ETFs) are hybrid investment products which have a unique set of characteristics. ETFs offer investors the best of features of both unit trust funds and individual stocks. This article will look at the differences and similarities of ETFs compared with other types of investments.
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| PKFZ developer sues port and audit firm over report |
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Jul 02, 10:50 AM
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Kuala Dimensi, the turnkey developer of the controversial Port Klang Free Zone (PKFZ), has filed a libel suit against its owner, Port Klang Authority (PKA), and PricewaterhouseCoopers Advisory Services (PwC) over the latter's report on the project. "This is just one of the series of legal suits contemplated by Kuala Dimensi with regard to the publication of the PwC report," Kuala Dimensi group deputy chief executive officer Datuk Faizal Abdullah said here yesterday. In May last year, PKA had commissioned PwC to conduct an independent analysis of the PKFZ project at the request of Transport Minister Datuk Seri Ong Tee Keat. The report, which was released exactly a year later, has questioned Kuala Dimensi's role in selling the 405ha piece of land PKFZ now sits on and developing it. CheangAriff, the law firm representing Kuala Dimensi, filed a suit at the High Court here yesterday over the PwC report, which Faizal said contained allegations that damaged its reputation and trade. "Our lawyers will serve the papers on PKA and PwC in due course." He said the allegations made in the report carried the meaning or insinuation, among others, that Kuala Dimensi had grossly overcharged PKA for interest in relation to the purchase of the land, that it had or was likely to have received payments in excess of the true value of the works done by it as the turnkey developer, that it had overpriced the value of its works and that it was unscrupulous. "(Other allegations include) that Kuala Dimensi had overcharged the development of the project, that it entered into the agreements with PKA in connection with the development of the project with knowledge that the agreements were not lawfully or prudently executed and that it colluded with Datuk Abdul Rahman Palil and/or Datuk Chor Chee Heung while they were in a position of a conflict of interest to secure advantages and benefits for themselves that would otherwise not have been available to it." Kuala Dimensi has expressed its intentions to sue PKA, its chairman Datuk Lee Hwa Beng, PwC, the transport minister and newspapers since the release of the PwC report. Impetus for this came with Tuesday's announcement by Lee that the authority would withhold RM660 million in payments due to Kuala Dimensi for the PKFZ project pending a review by the special task force commissioned to take another look at the project. Faizal said: "The chairman of PKA had said payments due to Kuala Dimensi will not be paid and that PKA was ready to face litigation. "He is inviting litigation by pushing our backs against the wall. "Litigation is generally unproductive, but he leaves us with no choice. We will exercise our constitutional right by going to court." He also said he had written a letter to Lee on June 29 explaining that the proceeds of the payments due would not go into the coffers of Kuala Dimensi, but to a special purpose vehicle to pay the bondholders. "Guess what was his reply? It is shocking that in his reply on June 30, he said he was unaware of the bond issue and asked whether Kuala Dimensi was getting the money. "Isn't that strange when the PwC report had mentioned about this bond financing? "Additionally, it has come to our knowledge that in early June, the chairman of PKA had a meeting with the representatives of bondholders where he suggested a 20 per cent discount for early settlement/redemption of the bonds," said Faizal. He also questioned the legality of Lee's appointment as chairman of PKA. "Section 4 of the Port Authorities Act 1963 states that the authority shall consist of a chairman who shall be appointed by the Yang di-Pertuan Agong. "However, we understand that his appointment has not been consented to by the Yang di-Pertuan Agong until today. "Indeed, it was the transport minister who had extended the service of Lee as PKA chairman (for another term after his term of office expired on March 31). "So my next question: is the transport minister abusing his power?"
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| Selangor still in water buyout talks |
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Jul 02, 8:45 AM
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SELANGOR state government is still in talks with Splash and Syabas for its plan to take over their water operations, said its chief minister yesterday.
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| WCT targets RM1b worth of jobs for 2009 |
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Jul 02, 8:45 AM
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CONSTRUCTION and property development firm WCT Bhd (9679) aims to pursue projects worth RM1 billion for 2009, of which it has already secured half the amount, said a top official.
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