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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 | 9,611 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 | 1,013 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 | 699 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 | 4,796 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 | 739 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 | 801 Views
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Sat 23-06-2007, 11:37 AM - by kevinvictor
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0 Replies | 549 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 | 915 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 | 1,084 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 | 1,744 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 | 847 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 | 874 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 | 1,058 Views
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Get out of debt! |
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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 | 1,351 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 | 747 Views
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» Upcoming Events |
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» Latest News |
| We should tap global debt mart: Zeti |
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Mar 16, 10:55 AM
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Malaysia should return to the global bond market for the first time in almost eight years to set new benchmark borrowing costs for the nation's companies, according to the central bank. "Malaysia has not tapped the international capital market for a long time, whether in conventional or sukuk bonds," governor Tan Sri Dr Zeti Akhtar Aziz said in a Bloomberg Television interview in Kuala Lumpur on Friday. "Therefore, we have encouraged the government to do so because it's important to have the Malaysian name in the market as well as to create a benchmark for other corporates." The government hasn't sold foreign-currency bonds since July 2002 when it raised US$600 million (US$1 = RM3.32) from the sale of five-year Islamic bonds, or sukuk. The finance ministry has continued to rely on local funding even as the government's budget deficit widened to a 22-year high of 7.4 per cent of gross domestic product in 2009. The central bank would like to see Malaysia tapping the global debt market soon, Zeti said. Malaysia's only outstanding foreign debt is the 7.5 per cent note maturing in July 2011, a 10-year benchmark sold in 2001 and 2002, according to data compiled by Bloomberg. The country's euro-denominated bonds matured in October 2005 and a pound debt was redeemed in July 2009. Indonesia, Philippines and Vietnam raised a combined US$4.5 billion in January selling dollar bonds maturing in 10 and 15 years. Malaysia's state-owned oil company Petroliam Nasional Bhd sold US$4.5 billion of 2014 and 2019 bonds in August last year. Separately, Zeti said the central bank has shortlisted foreign lenders for additional Islamic banking licenses it plans to issue this year. "Those who have been identified as potential successful candidates are being assessed very carefully," she said, declining to disclose the companies or how many banks made it to the shortlists. Bank Negara Malaysia will issue two Islamic banking licences this year to overseas lenders with capital of more than US$1 billion and two Islamic insurance licences, as well as permits for conventional global banking, including two for specialised banking, she said. Malaysia, which has the world's largest Islamic bond market, has eased foreign ownership rules and approved new products as part of efforts to become a hub for financial services that comply with Muslim tenets. The country last year increased the foreign ownership limits at local Islamic banks, investment banks and insurance companies to 70 per cent from 49 per cent. Asian nations from Singapore to Hong Kong are seeking a larger share of Muslim wealth by giving incentives for products that comply with the religion's Syariah law. The Islamic finance industry's assets under management may swell to US$2.8 trillion by 2015 from about US$1 trillion, according to Islamic Financial Services Board. Malaysia has so far licensed three overseas Islamic banks, including Kuwait Finance House, the Persian Gulf's largest Islamic investment bank, and Saudi Arabia's Al-Rajhi Bank. The Southeast Asian nation has 20 Islamic financial institutions, which include the Islamic units of HSBC Holdings Plc, Oversea-Chinese Banking Corp and Standard Chartered Plc, according to the central bank's website. Islamic law bans the payment of interest and stipulates agreements be based on the transfer of goods or services. - Bloomberg
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| Celcom Axiata links up with Pernec |
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Mar 16, 10:55 AM
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CELCOM Axiata Bhd (6888) expects revenue from its prepaid reload business to grow 5 per cent with the launch of reload services at payphones. Its chief corporate officer Adlan Tajudin said currently, Celcom does about 300 million top-ups a month. It has partnered Pernec Corp Bhd, which operates a payphone business for the new reload service. "This 5 per cent growth will translate to about RM75 million in terms of sales," he told reporters after the unveiling of "Helo Xpax Reloads", an innovative prepaid reload channel in Kuala Lumpur yesterday. The service lets its customers reload their prepaid accounts at Pernec's "Helo" payphones nationwide, 24 hours a day. At present, Pernec has more than 5,000 payphones that ride on Celcom's network and of these, 1,500 can be used for the reloads. "Last year, in terms of revenue from prepaid, we grew by 13 per cent year-on-year, which is far above of what the industry is doing, at about 2 per cent." Celcom is also working with Pernec on other products and services and one of them includes plans to convert payphones into Internet access "hotspots". Meanwhile, Pernec group managing director Abdul Karim Abdul Sallam said the company expects to convert all its payphones for the reload service by the second quarter of this year. Currently, most of the reload-enabled payphones are located indoor such as in shopping malls for security reasons but this will eventually be expanded to outdoors, particularly in rural areas.
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| Mitsubishi Heavy to supply parts to TNB |
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Mar 16, 10:55 AM
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Under the agreement, which starts this year, MHI will supply parts to the utility company, refurbish used gas turbine components and provide technical advisers for maintenance work. "A key feature in the agreement is the inclusion of a structured technology transfer package," said TNB's vice-president for the generation division, Mohd Nazri Shahruddin. It includes providing hands-on coaching to field service personnel of TNB's unit, TNB Repair and Maintenance Sdn Bhd (TNB Remaco), during scheduled maintenance as well as classroom training. Speaking to reporters after the signing ceremony in Kuala Lumpur yesterday, Mohd Nazri said the partnership will enable TNB to acquire new knowledge on repair services. Also present were MHI's deputy general manager of Takasago Machinery Works, Ken Kawai, and TNB Remaco managing director Nor Azman Mufti. Mohd Nazri said that under the partnership, some of the light repair work on the gas turbine components will be carried out at TNB Remaco's workshop under MHI supervision. In 2005, TNB installed two units of Mitsubishi's M701F gas turbines under the rehabilitation project at the Tuanku Ja'afar power station. "These machines are among the most efficient and environmentally friendly power plants in the country." Looking at the larger picture, Mohd Nazri said, TNB Remaco could be a strategic partner for MHI in servicing its customers overseas, especially in the Middle East. "Both companies could form a strategic partnership for numerous projects there," he said. For a start, three TNB Remaco supervisors were engaged by MHI to undertake a 120-megawatt steam turbine overhaul at the Marafiq power station in Saudi Arabia last year. "We hope both companies will seriously consider and pursue the possibility of establishing a win-win partnership for future business development," Mohd Nazri said.
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| UOB-OSK: Further OPR hikes depend on regional moves |
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Mar 16, 10:55 AM
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MALAYSIA'S Overnight Policy Rate (OPR) may increase by a further 50 basis points if other regional central banks decide to move up their interest rates, UOB-OSK Asset Management Sdn Bhd's chief said. "The market has already priced in a 50-basis points increase although the recent increase by the central bank (Bank Negara Malaysia) was only 25 basis points," chief executive officer Lim Suet Ling told pressmen when asked about a further hike in interest rates. "Further increases depend on the move by other central banks in the region as well," she said at the launch of OSK-UOB's China-India Dynamic Growth Fund in Kuala Lumpur yesterday. Earlier this month, Bank Negara raised the OPR by 25 basis points in response to the improving economic outlook. The move was also aimed at normalising monetary conditions and preventing the risk of financial imbalances which could undermine the economic recovery process. Meanwhile, OSK-UOB Unit Trust Management Bhd plans to sell half of the 400 million units from the new fund in three months. "Units worth RM4 million had already been sold on the first day after the fund was opened," said OSK-UOB chief executive officer Ho Seng Yee. At 50 sen per unit, the initial offer period of the open-ended feeder fund is between March 11 and March 31 with a minimum investment amount of RM1,000. The fund will invest in a diverse range of sectors in China and India. "We believe the two markets will continue to perform, driven by the triple growth engines of investment, consumption and exports," he said. The target fund is United China-India Dynamic Growth Fund which is actively managed by leading fund managers UOB Asset Management Ltd and UTI International (Singapore) Pvt Ltd. To supplement its export growth, China has been adopting accommodative monetary policies in recent years, Ho said. "India, on the other hand, has traditionally been driven by its domestic sector and in recent years, both investment spending and household consumption have been key drivers of the economy," he said.
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| China's Huawei in pact with 3 Malaysian companies |
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Mar 16, 10:55 AM
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HUAWEI, which provides next-generation telecommunications network solutions for global operators, yesterday inked a four-way agreement in Shenzen, China, with three Malaysian companies to promote local telecommunication human capital development. The three companies are Technology Park Malaysia Corp Sdn Bhd (TPM), Multimedia Development Corporation Sdn Bhd (MDec) and Dream Catcher Consulting Sdn Bhd. Under the agreement, the four parties would initiate collaboration to develop the necessary human capital for the telecommunication segment. It includes setting up a telecom data centre infrastructure within TPM and developing a structured certification programme to benchmark trained human capital resources which can be deployed globally. The agreement was signed in conjunction with the official visit of Deputy Minister of Science, Technology and Innovation Fadillah Yusof to China, said a statement released by the ministry in Kuala Lumpur yesterday. - Bernama
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