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Members: 61,509
Threads: 10,423
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Top Poster: Vivian (7,515)
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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 | 18,571 Views
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Astro targets 12pc rise in subscribers |
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 | 1,271 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 | 965 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 | 5,372 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 | 1,078 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 | 1,141 Views
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Kevin Chung 
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0 Replies | 763 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 | 1,185 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 | 1,313 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 | 2,026 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 | 1,064 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 | 1,090 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 | 1,410 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 | 1,691 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 | 1,001 Views
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» Upcoming Events |
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» Latest News |
| Focus on Wall St, regional marts |
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Sep 06, 1:23 AM
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INVESTORS are expected to turn their attention to the performance of Wall Street and other regional markets this week as activities on the local exchange start to slow down due to the upcoming Aidilfitri holidays. The Dow Jones Industrial Average managed to erase its losses for the year and closed at near sessions high last Friday as investors welcomed a better-than-expected job market report. The Dow rose 128 points, or 1.2 per cent, while the SandP 500 gained 14 points, or 1.3 per cent, and the Nasdaq composite rose 33 points, or 1.5 per cent. The rally pushed Dow back into the black for the year. At roughly 10,448 points, the index is up nearly 0.2 per cent since it closed at 10,428 points on December 31 2009. The jobs report, which came on the heels of improved manufacturing data earlier last week, helped ease some concerns about the US economy. But a report on the services sector activity came in weaker than expected. Meanwhile, trading volume on Bursa Malaysia is expected to be light this week as market participants could stay on the sidelines ahead of the Aidilfitri public holiday on Friday. The market last week saw strong support for finance stocks and heavyweight counters that helped the FBM KLCI to move above the 1,400-point level, thus hitting its highest ever mark in 30 months since February 2008. It touched 1,441.8 last Thursday supported by rise on US stocks and strong foreign funds' participation. On a weekly basis, the FBM KLCI advanced 24.62 points to 1,435.67 compared with the closing of 1,411.05 previously. Stocks that could be in focus this week are Sunway Holdings Bhd and Hexagon Holdings Bhd. Sunway said its unit and a joint-venture partner have won a 99-year lease term for a land parcel in Singapore worth S$165 million (RM384 million). As for Hexagon, the engineering firm accepted a letter of award valued at RM53.32 million for works at a solar wafer plant in Sarawak.
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| EU eyes more research tie-ups with Malaysia |
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Sep 06, 1:23 AM
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MALAYSIA'S research infrastructure is more sophisticated than many of its neighbours, yet its research cooperation with advanced economies like Europe is still at a very low level, says a high ranking European Union official. Ambassador Vincent Piket said Malaysians were currently involved in nine large-scale research projects funded by European Union (EU) under its Framework Programme Seven for research and technological development, with a total value of ¤25 million (RM100 million). The number, which doubled last year's five projects, was due to a promotion campaign the EU had undertaken with the Science, Technology and Innovation Ministry (Mosti). Although he was happy with the result, Piket said the potential is much greater. "The Malaysian success rate in the EU's Framework Programme for RTD (research and technological development) is still below the average if you compare it with other non-EU countries," he told the Business Times. The success rate stands at 17.7 per cent for Malaysia against the average of 23.2 per cent. "This puzzles me as Malaysia's research infrastructure is quite advanced compared to that of other countries in the region. Clearly Mosti and the EU delegation still have a promotional job to do." Malaysia's participation in the EU's research programme is one way to underpin its goal of becoming a developed country. Piket said current projects with Malaysian partners are primarily in the fields of food, agriculture and fisheries and biotechnology as well as environment such as climate change, nanosciences and nanotechnologies. The Seventh Framework Programme is the largest single research programme in the world. The EU budget involved this year is about ¤6.5 billion (about RM27 billion). "With the co-funding of the participating organisations, we expect to start research projects for over ¤10 billion (about RM40 billion). It is Europe's biggest ever investment in research and innovation," Piket noted. The package covers a vast range of scientific disciplines, public policy areas and commercial sectors. It aims to help solve societal challenges such as climate change, energy and food security, health and ageing population. The EU is keen to expand its relations further with Malaysia at both political and economic levels. Piket said 35 European companies working in the field of eco-innovation will be attending the International Green Tech and Eco Products Exhibition and Conference Malaysia in Kuala Lumpur in October.
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| Wing Tai to launch projects in Malaysia |
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Sep 06, 1:23 AM
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WING Tai Holdings Ltd, a property developer, will launch several new projects in Malaysia as it is bullish on the market, its deputy chairman Edmund Cheng said. Wing Tai will continue to develop high-end properties in the Klang Valley. It currently has 80ha of land in Kuala Lumpur and Penang. "We are looking to increase our landbank in the Klang Valley, and work with suitable partners," he said. Wing Tai, through its Malaysian-listed unit DNP Holdings Bhd, will launch Kondominium Nobleton Crest at Jalan U-Thant in Kuala Lumpur in 2011, pending market conditions. The project comprises three blocks of low-rise residences. It will also launch a prime development in Jalan Ampang, Kuala Lumpur, comprising two blocks of 49-storey and 43-storey serviced residences. The project, on a freehold site spanning 0.6ha, is under construction. "Work is progressing well. The launch will depend on market conditions. The market can expect several other exciting projects," Cheng said in a recent interview with Business Times in Singapore. Wing Tai, through DNP, is currently developing Verticas Residensi, 423 units of freehold condominium in the Bukit Ceylon enclave. Cheng said the project has received good response from the preview of its Tower A in July 2009. Tower B was officially launched in January 2010 and the units have been quite well received, he said. Verticas is under construction and it is expected to be completed in 2012. Its other ongoing developments are in Penang. They are Sentral Greens in Relau, Phase 2 of BM Utama in Butterworth, and Phases 4 and 5 of Taman Seri Impian, comprising terraced and semi-detached houses. Wing Tai started in Hong Kong as a garment manufacturer in the 1950s. It expanded its business in Malaysia in the 1960s and has developed over 70 projects to date.
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| Wing Tai upbeat despite Singapore property move |
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Sep 06, 1:23 AM
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STRONG demand for high-end properties in Singapore means that property developers who build assets in that segment won't be affected by the island republic's measures to cool the property market. Singapore had put a 70 per cent cap on loan-to-property-value for second mortgages, among other measures, to prevent the market from overheating. Property developer Wing Tai Holdings Ltd deputy chairman Edmund Cheng said at the launch of its luxury project Belle Vue Residences in Singapore last week that the new curbs will not affect the group. "The measures are few but for genuine buyers it is still okay. It may affect upgraders. Most of our projects are upper middle, high-end and super high-end, so the impact is not much," he said. "Wing Tai will continue to launch new projects as there is pent-up demand for high-end properties, especially among international investors and home seekers," he added. Foreign buyers generally make up about 29 per cent of Singapore's property market, Cheng said. Meanwhile, Wing Tai may replicate Belle Vue Residences, its most valuable residential project worth S$350 million (RM812 million), in other Asia Pacific countries. The project may be developed in Hong Kong, China or Malaysia, provided there is suitable land and Japan's renowned architect Toyo Ito agrees to design it. Belle Vue was designed by Ito, whose free-flowing spaces and designs mirror the rhythms and patterns of organic growth. This is his first residential project outside of Japan. Some 62 per cent of its 167 units have been sold, mostly to international property buyers, at between S$2,000 (RM4,640) per sq ft and S$2,300 (RM5,336) psf. The project was launched in phases starting August 2008 and the remaining units will sell from S$2,300 psf to S$2,800 (RM6,496) psf. Cheng said he was confident that the project will be fully taken up soon. "Belle Vue is our best project but we are aiming for another best development," Cheng said. Belle Vue, located on Orchard Road, is designed to parallel nature's simplicity.
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| Malaysian shipping lines claim discrimination |
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Sep 06, 1:23 AM
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DOMESTIC shipping lines are not happy by what it claims to be the discriminatory attitude shown by Johor Port Bhd which favours foreign-owned shipping companies in the middle of worsening congestion at the port. In a statement yesterday, Malaysia Shipowners' Association (Masa) chairman Nordin Mat Yusoff said the attitude by Johor Port to accord least priority to Malaysian-owned shipping lines at the port was very saddening and does not speak well of a business relationship aimed at serving mutual interests. "Although domestic container shipping lines were the first to support Johor Port when it started container operations more than 30 years ago, and continue to remain loyal to the port, we are the first to be discriminated by the port," he said. Speaking on behalf of its members, Masa also cried foul over the move by the port to provide priority berth to a foreign-based shipping line which will worsen congestion. "We are dismayed by the move by the Johor Port which wants to provide priority berthing to Pacific International Lines calling at Pasir Gudang which will only aggravate further the waiting time of the coastal ships trying to secure berth at the already congested port". Instead of seeking measures to alleviate the problem of congestion faced by domestic shipping lines, Johor Port is only aggravating the problem by allocating 250m of the limited berth capacity on its 650m wharf to Pacific International ships thereby reducing the available berth occupancy capacity further. Under a recently-concluded contractual arrangement, Johor Port has offered 250m of the total 650m-container wharf to Singapore-based Pacific International to discharge empty containers on a priority basis. "We fail to understand how Johor Port could resort to implementing such a priority berthing arrangement (beginning August this year) with a foreign shipping line when the port is facing such high berth occupancy rate and making vessels of the Malaysian shipping lines wait to secure berth." Masa said vessels of its member lines are facing delays up to 48 hours and the lines have been putting up with the untenable position for the past year with no solution in sight offered by Johor Port. "We have since May this year brought up the problem of having to wait between 24-48 hours from the time of arrival of the ship to secure berth and despite its earlier assurance the situation has not changed and now with the move to allocate the limited capacity to Pacific International ships the waiting times of the domestic ships will even become longer." Johor Port has allocated the balance of the capacity at the remaining 400m of berth to mainline operators, international feeder operations before domestic shipping lines are allowed to berth. "This is an outright discrimination and a very anti-competitive and monopolistic behaviour on the part of Johor Port which has no basis for such preference except to berth ships based on their arrival times." Masa also disagreed with claims by Johor Port the capacity utilisation was only 50-60 per cent and that there was no serious congestion. Masa said members are contemplating to transfer their vessel operations to Port of Tanjung Pelepas if the long delays persist at Pasir Gudang with no early signs in resolving the long waiting time of container ships at Pasir Gudang port. Johor Port could not be reached for comment yesterday.
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