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WS NEW UPDATE: Linde to invest at least RM600m in Malaysia

2012-01-17T09:02:00.007+08:00

INDUSTRIAL gas supplier Linde Malaysia Sdn Bhd plans to invest at least RM600

million in Malaysia over the next five years. The company has invested RM625

million in the past five years and now has over 60 plants and 20 sales centres in the

country. Linde Malaysia, which was formerly known as MOX-Linde Gases Sdn Bhd,

expects opportunities to grow with new industries in Malaysia such as the

production of photovoltaic cells in the solar industry.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Companies doing better overseas

2012-01-17T09:02:00.005+08:00

Malaysian companies operating in foreign markets are reporting better results in

terms of revenue or profit than those concentrating on their domestic market,

according to a survey conducted by Regus, a provider of flexible workplace facilities

and services. Quoting the results of its Regus Global Survey, which polled opinions

from over 12,000 companies worldwide, it said the indication was that foreign

expansion was good for business and should be considered by domesticallyfocused

firms. In a statement here yesterday, Regus said the survey also called for

a shake-up in attitudes at domestically-focused firms.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Is RHB-MBSB merger on?

2012-01-17T09:02:00.003+08:00

With the merger plans of RHB Capital Bhd (RHBCap) and OSK Holdings Bhd

coming closer to being realised, the question arises again as to whether the former

will contemplate a takeover of Malaysia Building Society Bhd (MBSB), a non-bank

lender to civil servants. This talk arose from speculation last October that the

Employees Provident Fund (EPF) was mulling over a move to merge both

businesses following an announcement by RHBCap last September that it had

written to Bank Negara seeking permission to start talks with OSK. The EPF holds a

44.84% stake in RHBCap and a 65.5% stake in MBSB. However, industry sources

and analysts said this merger or privatisation would likely not see the light of day

simply because of the complexities involved in the exercise including compliance

with banking laws.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Citibank sees Malaysia's main market index hitting 1,500-1,600 points

2012-01-17T09:02:00.001+08:00

Citibank Bhd expects FTSE Bursa Malaysia KL Composite Index to hit 1,500 to

1,600 points by year-end, while gross domestic product (GDP) for Malaysia to grow

by 5% this year, followed by 6% in 2013. Citibank Bhd head of investment strategies

and research, retail banking, Steven Yong said foreign funds had been flocking into

Malaysian equities, with the foreign shareholding level standing at 27% to 28%

currently. "This is a sign that foreigners like what our leadership is saying. There is

still more upside for foreigners to come but they want to see that government

policies get implemented first," he said in his presentation on A Time To Reflect ...

Back To Basics.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB sets sight on Laos

2012-01-17T09:01:00.001+08:00

CIMB Group Holdings Bhd will be seeking an operating licence in Laos this year, a

move that could well be the final piece in its Asean jigsaw. Yesterday's

announcement by group chief executive Datuk Seri Nazir Razak came a day after

Business Times reported the bank's plan to operate in the Philippines. CIMB is

Malaysia's second largest banking group and it is aiming to be the top three in

Asean by 2015. Of the 10 Asean economies, CIMB is currently absent only in the

Philippines and Laos. In the Philippines, it is in the midst of negotiating a stake buy

in the Bank of Commerce (BOC), a mid-sized commercial lender, which Nazir

expects to be concluded by the first quarter of this year.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Businesses in northern states benefiting from Thai floods

2011-12-09T14:49:00.003+08:00

Business community in the north have started to gain from the severe flooding in

Thailand as businesses relocate their operations or get supply from Malaysia. We

talked to our customers in Penang in the last few days and they are seeing some

spin offs from the flooding in Thailand," HSBC Bank Malaysia Bhd trade and supply

chain director Ng Wei Wei said after the briefing on Asia Pacific trade outlook here

yesterday. Earlier, OSK Research had anticipated several local sectors to gain from

the flooding, such as tourism, airlines, consumer, food and beverages and

technology-based manufacturing. Other sectors that would benefit too are

technology and automotive, following the extensive damage to their Thai facilities,

with total reconstruction efforts estimated at between RM10.1 billion and RM17.2

billion.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB Group not keen to buy Phatra, says source

2011-12-09T14:49:00.001+08:00

CIMB Group Holdings Bhd is not looking to buy Thailand's Phatra Securities,

sources said, culling rumours of its purported interest. One of the sources said the

banking group, Malaysia's second largest, had indeed eyed Phatra, one of

Thailand's top three brokers, some time ago but then decided to go with the smaller

Sicco Securities. CIMB in September announced plans to buy 70 per cent of Sicco

for about 767.9 million baht in a bid to have a stronger share of the Thai securities

market.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: UAE businesswomen look for opportunities especially in halal food industry

2011-12-09T14:48:00.005+08:00

Simple rules and regulations, attractive tax incentives and a welcoming environment

are the qualities that businesswomen from the United Arab Emirates (UAE) look for

when exploring investment opportunities in any country, including Malaysia. In a

media session at Power Ladies UAE-Malaysia Roundtable 2011 that featured

prominent women business leaders from the UAE, Raja Easa Al-Gurg, Fatima Al-

Jaber, Faiza Al-Sayed and Huda A. Al-Matroushi, agreed that Malaysia did offer

business opportunities that they were looking to explore, especially in the halal food

industry. Raja Easa is the managing director of the Easa Saleh Al Gurg Group, a

conglomerate in the UAE involved in trading, manufacturing, retailing, franchising

and real estate. She is also president of the Dubai Business Women Council, and

has had business dealings in Malaysia over the past 15 years.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: M’sia trade on uptrend

2011-12-09T14:48:00.003+08:00

While views have been that import-export markets are vulnerable to economic

instability in the West, Malaysia's trade should trend upward, having key partners in

Asia that would help sustain strong growth over the next 15 years. Malaysia's trade

is now dominated by five key players in Asia China, Singapore, Japan, Thailand and

Indonesia with the first four achieving similar trade magnitude last year. In HSBC

Bank Malaysia Bhd's trade forecast quarterly update, it said trade with China would

grow at an annualised rate of 6.35% by 2025, and with India at 6.29%. Trade with

Latin America countries like Brazil, Argentina and Mexico would increase by 7.51%,

6.83% and 7.36% respectively.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: October factory output up 2.8%

2011-12-09T14:48:00.001+08:00

October's factory output, as measured by the industrial production index (IPI),

unexpectedly increased by 2.8% on an annualised basis following gains in the

manufacturing and electricity sub-indices. The median consensus among

economists in a Bloomberg survey was for a 1.6% expansion in October year-onyear.

Of the sub-indices, manufacturing gained 6.2% year-on-year and electricity

gained 1.9% while mining posted a decline of 5.7%. Month-on-month, October IPI

also expanded by 2.8% while September's IPI was revised to 3% from 2.5%.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Passion

2011-11-24T13:21:00.001+08:00

Passion is powerful..nothing ever achieved without it, and nothing can take its place. No matter what you face in life, if your passion is great enough, you will find the strength to succeed. Without Passion, life has no meaning. So put your heart, mind and soul into your even your smallest acts, this is the essence of passion. This is the secret to life.
Sent from my BlackBerry® wireless device via Vodafone-Celcom Mobile.

High fees dampener for unit trust

2011-11-13T11:20:00.001+08:00

Saturday November 12, 2011

High fees dampener for unit trust

By DALJIT DHESI
daljit@thestar.com.my

Unit trusts are gaining popularity among investors as an important source of investment and retirement savings. But are investors getting a fair deal from the high charges being imposed by the industry and will lower charges really mean better returns for investors?

THERE is nothing that really fazes a seasoned investor. They are used to losing and making money on the stock market. They understand the game.

But if there's one thing that irks veteran investor Jason Yap, who has been a unit trust investor for a decade, is that he already starts losing money before he has a chance to make a profit.

What irritates Yap, who is a retiree, is the high upfront fee he has to endure, and that has a profound impact on the return on his investment.

"The upfront fee of between 5% and 7% is rather high and should be lowered for us to enjoy better returns. The upfront charge one has to pay when buying into a fund will impact the returns received from the fund. It is pointless to invest in something that at the end of the day will bite into' the returns or monies received from the particular investment.

"Many of us have taken out monies from our savings to invest in unit trusts. For unit trust to be effective in boosting retirement savings, the charges should be lowered or even abolished," he adds.

That argument is as old as the industry itself. Since establishing its roots in 1959, the unit trust industry in Malaysia has grown steadily over the years and has really blossomed since the various periods of market turbulence, especially the Asian financial crisis in 1997/98.

Foo says a dichotomy exists in Malaysia where different rates are being charged to different entities.

One of the major qualms among investors for some time now is its high sales charges.

The main grouse has been the upfront charges, which is money people have to pay when they buy into a fund. Then there is the exit charges, which are money paid when they cash out of a fund, and the annual management fee, which is a charge imposed by the fund to manage people's money.

The current upfront fee ranges from 5% to 6.5% on the invested amount, except for money from Employees Provident Fund (EPF) to invest in funds (under the EPF Members Investment Scheme) which is capped to 3% since Jan 1, 2008.

The exit fee may be 1% or higher but much depends on the structure of the fund. The annual management fee ranges from 1% to 1.5% and the trustee fees is from 0.5% to 1%.

A call to review sales charges

Is there a need for the industry to review its charges to make the unit trust industry more appealing to investors? Some industry observers think so.

Malaysian Financial Planners and Advisors Association (MFPAA) deputypresident Robert Foo thinks front-end fees should be reduced or completely removed so that investors can enjoy higher returns.

The other purpose of such a radical but common practice in matured markets is that the whole industry can then move from a sales push culture to that of a professional advisory culture where investors can work with licensed and professional financial advisors if they so wish.

"It should be noted that in developed countries like Britain and Australia, there is a regulatory push for such financial products to be delivered on a fee for service basis rather than on a high push environment with upfront sales commissions. In Britain, the government has legislated that by Jan 1, 2013, all financial products are not allowed to have commissions attached.

"Agents or financial advisors are required to charge investors directly for services provided, therefore ensuring that their interest aligns with that of the investors," he adds.

Foo, who is also the managing director of licensed financial planning company MyFP Services Sdn Bhd, says a dichotomy exists in Malaysia where different rates are being charged to different entities.

For money withdrawn from the EPF, people pay 3% to buy into a unit trust, but for walk-in customers, they are charged 6%.

"Does it mean that your EPF money is more valuable than your hard cash?" he asks.

"I think the upfront fee is too high and eats into the returns of investors. The average compounded rate of return of equity unit trusts in Malaysia over the last 10 years is only about 7.5% per annum, and losing 6% upfront is too high a cost for investors," Foo says.

An industry observer says the Securities Commission should consider compelling unit trust companies to waive the upfront charges, similar to funds under Fidelity Investment, which is one of the largest mutual fundcompanies in the world with over US$1.46 trillion in assets under management.

Foo says it is cheaper to buy funds through the Internet, for example through www.fundsupermart.com.my or eunittrust.com.my, which imposes an upfront charge of 1% to 2%.

ThMuch higher than regional peers

Licensed financial planner Jeremy Tan of Standard Financial Planner Sdn Bhd says the upfront fee is considered high compared with countries like Singapore and Hong Kong.

Tan says that depending on the sophistication of the product, the unfront fee in Singapore ranges from 3% to 5%, but adds that there is an alternative platform for investing in unit trusts, with upfront fees ranging from 0.75% to 2%, depending on the amount invested. In this latest alternative, there is a wrap fee of up to 1% per annum.

He says the alternative is also available in Malaysia, where the upfront fee is lower than what is currently charged by investing directly through the fund house.

He expects the industry to eventually lower the charges in line with other Asian countries such as Singapore and Hong Kong.

Foo says that due to the open nature of the Hong Kong and Singapore markets, where local funds have to compete with global fund houses at the retail and wholesale market sector, the fund companies can reduce the upfront charges to even zero. Also, there is no tied agency structure in these countries unlike Malaysia.

Lower charges, better returns?

Those arguing for lower charges will undoubtedly look at the average return of 7.5% per annum over the past decade by unit trust firms and say a lower fee will bump up returns.

VTan, however, believes lowering the sales charges will not necessary provide better returns to investor. It depends on the performance of the fund manager or the fund house in relation to the funds invested among others.

Pacific Mutual Fund Bhd executive director and CEO Gary Gan concurs. He says the performance of a fund and its relevance to investors is key rather than merely looking at charges.

At the end of the day, the basic rule of investing is making an informed decision. This means investors need to have sufficient information and knowledge of the product they are investing in, he notes.

MAAKL Mutual Bhd CEO Wong Boon Choy says any attempt to restructure the front-end and back-end charges will require very careful study and strong will on the part of the authorities to make tough changes to the rules and regulations on existing distribution channels which is dominated by a tied-agency system.

"Agent commissions have already been compressed when the EPF capped the maximum service charge to 3%. This translates to more than 50% reduction in the normal service charge. The front-end service charge is the primary means of compensating the agents for the service they provide to investors," he explains.

Wong, who is also the president of the Financial Planning Association of Malaysia (FPAM), estimates the tied agency force to be over 60,000 at the end of last year.

Meanwhile, Areca Capital Sdn Bhd CEO Danny Wong feels the market should determine the fee structure as ultimately good performance and achievingthe investor's objective are more important.

Tan says the upfront fees are considered high compared with Singapore and Hong Kong.

He says there are funds with upfront fees distributed by banks or unit trust companies as well as those with almost no front-end fees being solddirectly by niche fund managers or via online portals. He points out that there is no evidence of superiority of either practice as the choice of investment is left to the investors.

Lowering or abolishing sales charges, says Steve Lim, chief product officer ofHwangDBS Investment Management Bhd, will provide investors a quicker path to garnering returns on their investment, but at the same time, might encourage many to make regular withdrawals.

From the perspective of unit trust management companies, the lowering of sales charge to 3% has helped change investors' mindset and allowed them to realise that unit trust is a viable investment and pension planning instrument, Lim adds.

CIMB-Principal Asset Management Bhd CEO Campbell Tupling says the industry fee structure in Malaysia is primarily on the front-end as the back-end fees are not significant.

Alternatives

"Investors know what they are paying for. Fees are transparent and clearly stated. Investors are free to choose how they wish to be serviced. There are other means of investing at a lower cost, for example exchange traded funds (ETFs). However, investors have yet to embrace ETFs in a meaningful way," he adds.

With high sales charges of unit trust funds, which generally are open ended funds, will it make more sense for investors to switch their investments into close-end funds or other instruments like ETFs?

iCapital.biz Bhd managing director Tan Teng Booloyhy does not think so. Unless the fund manager has an excellent track record, he says it is hard to promote and list a close-end fund like icapital.biz Bhd on Bursa Malaysia.

Tan says any such fund has to go through an initial public offering process and is not so profitable for fund management companies to promote and list close-end funds as there are no entry fees or front-end loadings or commissions, he adds. At the same time, he says investors in Malaysia are not familiar with closed-end funds.

icapital.biz Bhd is the only listed closed-end fund in the country.

From the company's records, icapital.biz Bhd's cumulative returns for the five-year period (between Oct 19, 2005 and Dec 30, 2010) stood at 109%. (Note: the fund was not traded on Dec 31, 2010).

The top half of the Equity Malaysia Funds (equity unit trust funds) returns range from 84% to 196% during the five-year period (Dec 31, 2005 to Dec 31, 2010).

Wong says that in general, unit trust funds are more popular than closed-end funds. With the so-called guaranteed buy-back feature, investors can be assured that the unit trust management company will buy back their units in the event the investors need to make a redemption or liquidation.

"Unlike unit trust funds, the trading price of the closed-end fund is dictated by market force and investor sentiment. In the event the investors of the closed-end funds want to liquidate their holdings, they can only liquidate or sell through the brokers on the stock exchange where the units are subject to the market forces of supply and demand.

"Therefore, the prices can be volatile in the secondary market where investors may sell their units at a discount or premium. In this case, liquidity is one of the major concerns for investors of closed-end funds," he says.

Foo feels investing in closed-end funds or open-end funds has its pros and cons, but much depends on the skill and capability of the investment manager to deliver the returns by taking advantage of the inherent features of the two structures.

Tan of Standard Financial Planner says more research and analysis on close-end funds is required before investing, compared with unit trust investment where the fund's objectives of distribution policies, inherent risks, minimum investment period are clearly spelt out in its prospectus.

Every investor wants to preserve capital invested and a return corresponding with the risk taken, he explains.

Currently, there are over 580 unit trust funds in the market compared with only five listed ETFs on Bursa, namely CIMB FTSE Asean40, CIMB FTSE China 25, FTSE Bursa Malaysia KLCI ETF, MyETF Dow Jones Islamic Market Malaysia Titans 25 and ABF Malaysia Bond Index Fund.

For example, returns to date (Jan 1 to Oct 31) of FTSE Bursa Malaysia KLCI ETF stands at -0.16%. The FTSE Bursa Malaysia KLCI was down 2.71% during the same period.

Lim says ETFs can be a good choice for investors who have knowledge of the stock market and have the expertise to make investment decisions on their own. For the normal saver, however, unit trusts tend to be more appropriate as the investments are managed by professionals who have the skill sets to make complex investment decisions.

Gan, however, feels investors should consider other factors rather than solely relying on returns data. Factors like volatility of the instrument and fund size are equally important when investing in a particular fund.

Growth momentum and key challenges

With the current uncertainties in the global economy coupled by the eurozone debt crisis, is the unit trust industry able to ride out the global economic slowdown to continue its growth path?

Industry players generally think the industry will continue to grow albeit at a slower phase. CIMB-Principal's Tupling projects a low single-digit growth for the rest of the year and anticipates the industry's asset under management to grow about 5% to RM104bil this year.

In terms of net asset value (NAV), the investments in unit trust funds held by 14 million account holders stood at RM240bil last year compared with RM44bil in 2000, an increase of about 45% per annum.

Wong feels the market should determine the fee structure as good performance and achieving objectives are vital.

He says that new investment in equity funds has slowed but it is not a significant drop, adding that redemptions are also lower than expected.

The growing risk aversion, he says, will result in higher demand for more defensive and conservative asset classes like dividend-yielding equities and fixed income securities.

ILim of HwangDBS expects single-digit growth this year due to poor market sentiment and high risk aversion in view of the uncertainties in the global economy.

He says the main challenges faced by the industry is the need to address the question on how growth momentum can be maintained as well as to promote unit trust fund as a staple in building long-term wealth. He says there is also a need to change the short-term investor mindset.

Gan says while the current gloomy outlook may have impacted equity funds, not all can be lumped in the same boat. Funds like Islamic and money market are thriving and the factors that will ultimately attribute to industry growth is how well funds perform and deliver products that meet investor needs.

Areca Capital's Wong expects the industry to continue growing at a double-digit rate. With investment markets getting more volatile, he says investors may find it harder to grow their investments resulting in migration of more funds into the fund management industry.

Competition from international players is the other main challenge for local players, he notes. To face the challenges, Wong adds innovativeness and excellent service standard is needed.

It is therefore important to allow different types of business models and strategies to combat that threat, especially when facing the established giant international players, so that each player will continue its role and find its niche within the industry, he says.

EPF: Before it is too late!

2011-11-13T09:44:00.001+08:00

> This article is from The Star Online (http://thestar.com.my)
> URL: http://thestar.com.my/news/story.asp?file=/2011/11/13/nation/9894634&sec=nation
>
> __________________________________________________________________________
>
>
> More than 50% of EPF members have yet to nominate their beneficiaries which could result in a lot of heartache for the family if the unforeseen occurs.
>
>
> WHEN engineer Farid* died in an accident at the age of 31, it was a shock to everyone, especially his wife Ani*. She had given birth to their first child only a few months earlier and they had just bought a house. Suddenly, Ani found herself saddled with extra financial responsibilities. What kept panic at bay was the thought of her late husband's EPF (Employees Provident Fund) savings to help her cope with their bills and loans.
>
>
> “So you can imagine my horror when the EPF told me that Farid had not nominated me, or anyone, as his beneficiary, which meant that I would have to put in some paperwork and wait a little while before I could have access to his account.”
>
>
> Her husband had worked since he was 21, tells Ani, and he had quite a substantial amount in his account.
>
>
> “I was already working then, so I could support myself and my son but when my husband and I calculated our budget for a house and the other expenses, we based it on our joint incomes. I needed help to cope financially, at least to trim down our debts' to a manageable amount. Being told that I not only would not get the money anytime soon, and may even need to hire a lawyer to get it was definitely the last thing I wanted to hear,” she recalls.
>
>
> Luckily with the help of a “lawyer-friend”, she managed to get things processed within six months.
>
>
> According to EPF public relations <span class="knx-annotation" xmlns:foaf="http://xmlns.com/foaf/0.1/" typeOf="foaf:Person" property="foaf:name" about="http://archives.thestar.com.my/search/?q=Nik Affendi Jaafar" content="Nik Affendi Jaafar"><a rel="foaf:homepage" href="http://archives.thestar.com.my/search/?q=Nik Affendi Jaafar" target="_blank">general manager Nik Affendi Jaafar</a></span>, only around 40%, or 4.71 million of their 12.9 million EPF members have nominated their beneficiaries (as of June 2011).
>
>
> This can cause a lot of heartache for the family or next of kin when the member dies.
>
>
> Without a nomination, they would have to produce a Letter of Administration, Letter of Probate or Distribution Order from the relevant authorities to substantiate their claim on the savings, and this can be a hassle, says Nik Affendi.
>
>
> “In comparison, completing a nomination takes only minutes all members have to do is to fill up the KWSP 4 Form and submit it to the nearest EPF branch.”
>
>
> With a nomination in place, there is no necessity to go through the inconvenience of having to produce these documents.
>
>
> Although they have received various complaints that the claiming process is too time-consuming with some saying that proof of relationship should be enough for immediate family he stresses it is necessary to prevent fraudulent claims and to ensure that the retirement savings of a deceased member goes to the rightful party.
>
>
> Hence, it is crucial to nominate one's beneficiary, he stresses.
>
>
> Life is full of uncertainties, he adds, so members should nominate their beneficiaries as soon as they register as a member and reach the age of 18. When members nominate their beneficiary, they are given a notification slip, which they should keep safely or pass on to their next-of-kin.
>
>
> There are cases where the family of the deceased does not even know that they have been nominated as beneficiary.
>
>
> For Muslim members, he reminds that the nominee is supposed to act as an “administrator” (wasi) who will then be responsible for distributing the savings in accordance with the Faraid Law ((Islamic law of inheritance and distribution).
>
>
> However, there have been various cases of abuse, so it is important that you nominate the right person as the wasi.
>
>
> “Unfortunately, once the money is disbursed, it is out of the EPF's hands. It is not our jurisdiction to ensure that the money is properly distributed,” says Nik Affendi.
>
>
> This is something that Norina* found out the hard way. When her ex-husband passed away recently, she was told by her former brother-in-law, who had been nominated as the beneficiary, that her late husband's EPF savings would be used to pay off all of the deceased's debts while the balance would be donated to the poor. Their three children would not receive anything.
>
>
> In another case, a person had named his father as wasi, but when it came to the crunch, the wife of the deceased and children received nothing.
>
>
> There have been calls for EPF to withhold the savings until all the next-of-kin can come forward, but as Nik Affendi explains, they are bound by the legalities of the nomination.
>
>
> “If there is a nomination, there is nothing we can do. The money will be released to the beneficiary nominated.”
>
>
> The good news is, the legality means that the family members can take the matter to the syariah court if the money is not distributed according to the Faraid Law.
>
>
> As pointed out by Syarie Lawyers Association Malaysia (PGSM) <span class="knx-annotation" xmlns:foaf="http://xmlns.com/foaf/0.1/" typeOf="foaf:Person" property="foaf:name" about="http://archives.thestar.com.my/search/?q=Zainul Rijal Abu Bakar" content="Zainul Rijal Abu Bakar"><a rel="foaf:homepage" href="http://archives.thestar.com.my/search/?q=Zainul Rijal Abu Bakar" target="_blank">president Zainul Rijal Abu Bakar</a></span>, the beneficiary has to sign an Akujanji letter that he or she would divide the savings according to the Faraid Law when they receive the money, so failure to do so will make him or her accountable in court.
>
>
> However, as inheritance battles go, this can be time-consuming.
>
>
> Unclaimed monies
>
>
> There are times when the family of the deceased do not even know that there is savings left behind, highlights Nik Affendi. Sometimes, the next-of-kin is not aware their parents had been working previously and have EPF savings.
>
>
> Although nomination is confidential, the next-of-kin can check the existence of a savings as well as their nomination status by producing the deceased member's Death Certificate and proof of relationship (birth certificate or marriage certificate). The next-of-kin can go to the nearest EPF branch to check or conduct a search online to find out about unclaimed monies of their deceased's immediate family members.
>
>
> However, he adds, for security purpose, the online search can only be done through members' EPF number or identification card number. Searches by name can only be made at the EPF branches.
>
>
> According to <span class="knx-annotation" xmlns:foaf="http://xmlns.com/foaf/0.1/" typeOf="foaf:Person" property="foaf:name" about="http://archives.thestar.com.my/search/?q=Datuk Dr Awang Adek" content="Datuk Dr Awang Adek"><a rel="foaf:homepage" href="http://archives.thestar.com.my/search/?q=Datuk Dr Awang Adek" target="_blank">Deputy Finance Minister Datuk Dr Awang Adek</a></span>, as of Dec 31, 2010, there is around RM377.8mil of EPF savings that have not been claimed.
>
>
> This unclaimed monies is said to belong to some 188,733 EPF contributors aged 75 and above, most with an average savings of about RM2,000.
>
>
> After a stipulated time, the money will be transferred to the Registrar of Unclaimed Monies.
>
>
> However, these monies are still with EPF, says Nik Affendi.
>
>
> “While savings of members aged 80 and above would be transferred to the Registrar, none has been transferred yet.”
>
>
> He says they have made various efforts and utilised all avenues possible to try and trace these members with unclaimed monies or their next-of-kin.
>
>
> “For example, we have set up an online search through the myEPF website via www.kwsp.gov.my, and we made sure that whatever data in the online search is also updated.”
>
>
> In the past, he says EPF had also published a directory of members with unclaimed contributions and placed copies of these at post offices, as well as state assemblyman and union offices. The directory received luke warm response from the public despite awareness campaigns and they were removed.
>
>
> “It must be noted that we had also sought the help of the National Registration Department, the Election Commission and <span class="knx-annotation" xmlns:foaf="http://xmlns.com/foaf/0.1/" typeOf="foaf:Organization" property="foaf:name" about="http://archives.thestar.com.my/search/?q=Telekom Malaysia" content="Telekom Malaysia"><a rel="foaf:homepage" href="http://archives.thestar.com.my/search/?q=Telekom Malaysia" target="_blank">Telekom Malaysia</a></span> to trace these members.
>
>
> “There were even advertisements published in newspapers and television.”
>
>
> Nik Affendi adds that attempts to contact and alert the members' next-of-kin (about the unclaimed contributions) were made based on latest information recorded in the system.
>
>
> He adds there are other possible reasons for the unclaimed monies the first being that the individual had forgotten about his or her EPF savings. Secondly, there is lack of enthusiasm due to the fact that the amount is believed to be too small.
>
>
> “What many forget is that the EPF continues to pay dividends to its members until the person reaches age 75, as long as the EPF monies have not been withdrawn. The dividend will still be paid even if the individual passes on before that age,” he notes.

Source:the star

FT: BNM taking ‘major risks’ with inflation, but maintains interest rates

2011-11-12T16:38:00.000+08:00

KUALA LUMPUR, Nov 12 — The central bank's decision to keep interest rates on hold offers some support for growth while taking "major risks" with inflation, the Financial Times says. The daily .... http://www.themalaysianinsider.com/malaysia/article/ft-bnm-taking-major-risks-with-inflation-but-maintains-interest-rates/

WS NEW UPDATE: Foreign net stock buying spills into November

2011-11-03T14:22:00.007+08:00

Foreign funds were net buyers of local stocks in October, helping the benchmark

FTSE Bursa Malaysia KLCI record its biggest monthly gain in more than two years.

This is the first time in three months that foreign funds have turned into net buyers

of equities traded on the stock exchange here. In October, foreign funds were net

buyers of RM1.5 billion worth of shares. They bought RM7.1 billion and sold RM5.6

billion worth of shares during the period. "Many stocks hit or were trading near their

year-low levels over the past few months. That had made valuation somewhat

attractive and drove the funds into a buying spree. Also, there were less worries on

the global front, which helped investment sentiment," said Mercury Securities head

of research Edmund Tham.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: SOBA winners say thinking out of the box is one of the hallmarks of success

2011-11-03T14:22:00.005+08:00

Perseverance, hard work and thinking out of the box are some of the hallmarks of

success, said top winners of the coveted The Star Outstanding Business Awards

2011 (SOBA 2011). "Our company's motto is to think differently from our

competitors and persevere during tough times. Besides being different, we do not

give up easily and always strive to do better. We also adopt some of the best

practices in the industry and provide attractive benefits to our employees," said

Vista Laser Eye Center Sdn Bhd CEO Lim Boon Siong. A total of 27 awards in 11

categories were presented at the SOBA 2011 ceremony held at the Royale Chulan

Kuala Lumpur on Tuesday. Eight were platinum awards, 10 gold and nine silver.

There were a total of 115 entries from 83 companies this year.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: M'sia has sufficient funds and is insulated from debt crisis and recession

2011-11-03T14:22:00.003+08:00

The country has enough funds to cushion the economy, should the contagion from

the European debt crisis hit Malaysi according to Second Finance Minister Datuk

Seri Ahmad Husni Mohamad Hanadzlah. "We have our buffer the RM6bil stimulus

spending allocated under the budget initiative. Assuming there's no recession, the

buffer will be available to ensure strong growth. If there's a recession, it will help to

protect our economy," he said after officiating the MIA-AFA Conference yesterday.

Asked if Malaysia had funds for another stimulus package under the worst-case

scenario, Husni said the Government had its reserves for the purpose.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB is top sukuk underwriter

2011-11-03T14:22:00.001+08:00

CIMB Group Holdings Bhd is poised to overtake Malayan Banking Bhd as the lead

arranger for Islamic bonds after helping manage Malaysia's second-biggest offering

in 2011. The lender co-arranged power producer Tenaga Nasional Bhd's sale of

RM4.85 billion of syariah-compliant debt in conjunction with Bank Islam Malaysia

Bhd. That offering took the bank's total to US$4.5 billion (RM14 billion), compared

with Maybank's US$3.8 billion (RM11.9 billion), according to data compiled by

Bloomberg. Sales of Islamic bonds doubled last month as yields at a seven-week

low and the resolution to Europe's debt crisis encouraged borrowers

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Thought

2011-11-01T16:45:00.000+08:00

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."

Steve Jobs

1955-2011, Co-Founder of Apple Computer

Sent from my BlackBerry® wireless device via Vodafone-Celcom Mobile.

WS NEW UPDATE: CIMB-Trust Capital buys building

2011-10-28T13:54:00.007+08:00

CIMB-Trust Capital Office Fund No. 1 has acquired 850 Collins Street, Melbourne,

from Lend Lease Australia. In a statement yesterday, CIMB-Trust Capital Advisors

Singapore Pte Ltd said 850 Collins Street, a A-grade commercial office building,

was currently under construction and was scheduled for completion in October

2012.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Asean geared to face crises

2011-10-28T13:54:00.005+08:00

While Asean cannot be insulated from the effects of the global economic and

financial uncertainties, the region is seen to be able to weather any potential

economic or financial storm better this time. Financial experts and business leaders

attribute the region's resilience to lessons learnt during the 1997/98 Asian Financial

Crisis and the right policy measures taken since then to build a stronger economy

and financial system. "I will have to say, thank God we had the Asian Financial

Crisis'; if not for the lessons we had learnt as a result of that crisis, we would have

gotten into a lot worse position during the onslaught of the global financial system in

2008," Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar said at a

plenary session of the CIMB Asean Conference 2011 here yesterday. Organised by

CIMB Group, the two-day event, held for the first time to promote regional

integration.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Pharmaniaga in Mid-East JV deal

2011-10-28T13:54:00.003+08:00

Malaysia's biggest pharmaceutical company Pharmaniaga Bhd has signed a

memorandum of collaboration (MoC) with Modern Industrial Investment Holding

Group Co Ltd and E-Healthline for a pharmaceutical joint venture (JV) project in the

Middle East. A statement issued by Pharmaniaga said the MoC would see the three

parties explore the possibility of creating a JV to design, construct, operate and

manage a pharmaceutical complex located in Saudi Arabia. The move aims to cater

to markets in the Middle East and North Africa. The MoC was signed in Frankfurt,

Germany at CPhI Worldwide 2011, an annual global medical and pharmaceutical

trade event.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB: Thai floods to have small impact on earnings

2011-10-28T13:54:00.001+08:00

Floods in Bangkok will likely have only a small impact on the earnings of CIMB

Group Holdings Bhd, its chief, Datuk Seri Nazir Razak, said. The regional banking

group, Malaysia's second largest, has operations in Thailand through CIMB Thai

Bank. The Thai contribution to CIMB is quite small. Secondly, the government

numbers (show) that banking sector lending that is exposed to the flood situation is

actually quite small, about one per cent of total loans, and that is not too different

from our estimate. But things are quite fluid, so we have to see." Nazir spoke to

reporters on the sidelines of the inaugural CIMB Asean Conference here yesterday,

amid news that thousands of Bangkok residents were evacuating as a mass of

floodwater advanced towards the Thai capital city.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia beats Caexpo sales target

2011-10-28T13:53:00.001+08:00

The Malaysian contingent of exporters recorded RM175.6 million of sales, nearly

triple the sales made last year, at the just concluded 8th China-Asean Expo

(Caexpo). This has also surpassed Malaysia External Trade Development

Corporation (Matrade)'s target of RM100 million sales. Last year, 101 companies

that participated at the 7th Caexpo reported RM65.7 million total sales. Matrade

trade and services promotion director (construction services and building materials)

Ong Yew Chee said this is the best results since Malaysia took part in the annual

Caexpo since 2004.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Thoughts

2011-10-10T12:26:00.001+08:00

POINT OUT PEOPLE’S STRENGTHS

People often make a mistake in their personal development when they focus too much on their weaknesses. As a result, they spend all their time trying to shore up those weaknesses instead of maximizing the strengths they possess. Similarly, it’s a mistake to focus on the weaknesses of others. The self-proclaimed “experts” who spend their time telling others what’s wrong with them never win with people. Most people simply avoid them.

Instead, we need to focus on finding people’s strengths and pointing them out. Most people have strengths that they rarely get to use. Those strengths may be job skills, knowledge, general abilities, personality characteristics, or other attributes. I once read an interesting fact based on research, saying that every person can do at least one thing better than ten thousand other people. Think about that! You possess an ability that can’t be matched by anyone in your town or neighborhood … or in your college or university … or in your company or maybe even in your industry.

Have you discovered that ability? If so, you are probably well on your way to pursuing your life’s purpose. If you haven’t, wouldn’t you love it if someone came alongside you and pointed it out? How would you feel about that person? I bet you’d be pretty grateful.

Why not try to become that kind of person in someone else’s life? When you do, you just might be helping others to discover the thing God created them to do.

―25 Ways to Win with People

POINT OUT A GREAT STRENGTH OF

SOMEONE IN YOUR LIFE TODAY.

WS NEW UPDATE: SPAD, Puspakom in pact to weed out unfit vehicles

2011-08-26T09:02:00.007+08:00

Land Public Transport Commission (SPAD) has teamed up with vehicle inspection

firm Puspakom Sdn Bhd to weed out commercial and public vehicles that are not

roadworthy. Malaysia has some one million commercial and public vehicles plying

the roads nationwide, of which some 7,000 vehicles every month have missed their

mandatory once-every-six-month annual inspections and are not fit to be on the

roads. Under their memorandum of understanding signed here yesterday, SPAD will

share database with Puspakom and crack the whip on errant lorries, buses and

taxis.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: MISIF says Govt move to stop probe into imports of HRC is good

2011-08-26T09:02:00.005+08:00

The Malaysian Iron and Steel Industry Federation (MISIF) has lauded the

Government's decision to terminate investigations into the import of hot rolled coils

(HRC). The industry body said the decision was good for the healthy growth of the

entire iron and steel industry instead of benefiting one company. "The decision is

timely, and it has at least resolved many uncertainties faced by companies for the

past few months and now they have a clearer path to move their businesses

forward," MISIF said in a statement yesterday. It hoped all parties would cooperate

to strengthen the growth and development of the iron and steel industry through

mutual support and understanding.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Maybank hopes Indonesia won’t change policy on foreign shareholding in banks

2011-08-26T09:02:00.003+08:00

Malayan Banking Bhd (Maybank) is optimistic that the upcoming Indonesian ruling

on bank shareholding will not be detrimental to foreign investors. Based on media

reports so far, the bank had understood two key points. The first was the possibility

of Indonesia introducing foreign ownership restriction and compelling banks to

reduce their foreign shareholding to below 50%. The second was that such a move

could pertain to limiting the extent of control by any single person or any single

shareholder.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Matrade maintains export growth target

2011-08-26T09:02:00.001+08:00

Malaysia External Trade Development Corp (Matrade) is not altering its export

growth target for 2011 despite slower growths in the US and the European Union,

two of its important trading partners. Its newly-appointed chief executive officer Dr

Wong Lai Sum said the 10.6 per cent target as specified under the 10th Malaysia

Plan stays, although the actual number may be lower due to the turmoil in these two

markets. "We are maintaining our target but we are looking at the other markets

where we are seeing some good numbers such as in green exports.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Growth concerns roil global markets

2011-08-26T09:01:00.001+08:00

Investors has once again focused on growth as a slew of data reminded them of the

weak economic conditions out there. The latest worrying developments include the

drop in German business confidence to the lowest in more than a year and the slow

sales of new US homes in July. Asian markets closed in negative territory while

trading in European markets was volatile with the benchmark Stoxx Euro 600 Index

opening higher. US equity futures fell with the S&P 500 futures down four-fifths of a

percent at 5pm, signalling a lower opening on Wall Street. This was in contrast to

Monday's gains on Wall Street and the advance of Asian and European stocks on

Tuesday, amid mounting speculation of another round of stimulus measures to be

announced by US Federal Reserve chairman Ben Bernanke during a meeting of

central bankers from around the world in Jackson Hole, Wyoming, later in the week.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Petronas Dagangan looks abroad

2011-08-25T10:55:00.009+08:00

Petronas Dagangan Bhd, the best-performing stock in Malaysia's benchmark index

this year, plans to extend its reach in South-East Asia after making its first overseas

venture into Indonesia. The retail arm of Petroliam Nasional Bhd (Petronas) was

"always looking for acquisitions", and was particularly interested in the oil and gas

product markets in the Philippines and Thailand, chief executive officer Amir

Hamzah Azizan said in an interview in Kuala Lumpur. Expanding abroad will

generate growth beyond Petronas Dagangan's home market where it supplies 51%

of the country's liquefied petroleum gas, according to its 2011 annual report. The

company had cash of more than RM900mil at the end of June.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: July vehicle sales down again

2011-08-25T10:55:00.007+08:00

Total vehicle sales fell for the third consecutive month in July, slipping 6% to 50,252

units from 53,483 units recorded in the same month last year, but jumped by 20% or

8,462 units compared with the previous month, said the Malaysian Automotive

Association (MAA). It said yesterday that sales volume for the seven-month period

declined to 347,455 units from 354,598 units over the same period last year. Sales

of passenger vehicles in July slipped to 44,835 units from 48,144 units in the same

month last year, while sales of commercial vehicles were up marginally to 5,417

units from 5,339 units a year earlier.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Maxis, MDeC in cloud computing connection

2011-08-25T10:55:00.005+08:00

Maxis Bhd aims to work closely with the Multimedia Development Corp (MDeC) to

establish joint programmes to promote adoption of cloud computing services for

independent software vendors. Maxis senior vice-president of business services,

Fitri Abdullah said the collaboration will accelerate the adoption of cloud technology

by software vendors and businesses. It will also pave the way for an array of

enterprise-grade cloud solutions to become available to Malaysian businesses. This

will undoubtedly make them more agile, cost-efficient and globally competitive, and

enable them to provide better products and services to Malaysian consumers," Fitri

told reporters after the launch of Maxis Cloud Computing Services here yesterday.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: US investment trend in Malaysia to remain strong

2011-08-25T10:55:00.003+08:00

The US economy may be experiencing slower growth but it is still the leader in

foreign direct investments (FDIs) in Malaysia. US ambassador Paul W. Jones, in

stating this, expects the strong trend seen last year to continue through this year.

"New companies are continuing to show interest in Malaysia, with other American

businesses in providing jobs, development opportunities, technology and giving

back to the community," Jones said. Last year, US investments in Malaysia enjoyed

a 456 per cent jump in growth compared to the previous crisis year-on-year.

Malaysia attracted US$3.8 billion (RM11.59 billion) in FDIs from 47 projects

compared to 19 projects totalling US$685 million (RM2.08 billion) in the previous

year.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB among banks hired for planned MU listing

2011-08-25T10:55:00.001+08:00

English football club Manchester United has hired a slew of banks including

Malaysia's CIMB Group for its planned listing on the Singapore stock exchange,

according to news portal FinanceAsia. The portal, in a report yesterday, cited

sources as saying that the US-based Glazer family, which owns 100 per cent of the

popular club that has a strong Asian fan base, last Friday mandated JPMorgan and

Morgan Stanley as joint bookrunners for the initial public offering (IPO). The two US

investment banks will work alongside Credit Suisse, which had earlier been hired as

the global coordinator. It will also be a bookrunner. According to the report, the

Glazers have also hired Hong Kong-based BOC International, Malaysia's CIMB,

Singapore's DBS and pan-Asian investment bank CLSA as joint lead managers, in

a move that suggested the owners are keen to get a well-diversified regional spread

of investors.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Thought

2011-08-23T16:27:00.001+08:00

"History has demonstrated that the most notable winners usually encountered heartbreaking obstacles before they triumphed. They won because they refused to become discouraged by their defeats."

Bertie Charles Forbes

1880-1954, Financial Journalist, Author and founder of Forbes Magazine

Sent from my BlackBerry® wireless device via Vodafone-Celcom Mobile.

Thought

2011-08-23T13:24:00.001+08:00

"If you wish to achieve worthwhile things in your personal and career life, you must become a worthwhile person in your own self-development."

Brian Tracy
Speaker and Author

Thought

2011-08-11T17:11:00.001+08:00

"Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough."

Oprah Winfrey

Television Host, Producer and Philanthropist

Sent from my BlackBerry® wireless device via Vodafone-Celcom Mobile.

WS NEW UPDATE: AirAsia-ANA tie-up likely

2011-07-18T10:34:00.007+08:00

AirAsia is likely to have a joint venture with Japan's largest carrier - All Nippon

Airways (ANA) - to set up a low cost airline likely to be called AirAsia Japan. An

announcement on the collaboration is expected to be made next week and it would

involve the setting up of a low cost carrier (LCC) and a hub in Japan by AirAsia. The

LCC will serve the domestic market and eventually regional markets, sources say.

Like its other joint ventures in Indonesia, Thailand, the Philippines and Vietnam,

AirAsia will partner ANA, which may lead in equity share holding but operationally,

the Malaysian carrier will be in the driver's seat.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Frost & Sullivan revises down vehicle sales TIV

2011-07-18T10:34:00.005+08:00

Frost & Sullivan has revised its 2011 total industry volume (TIV) forecast of vehicle

sales to 615,900 units from 623,000 units as a result of supply chain disruptions

from the impact of the March 11 earthquake in Japan. Frost & Sullivan partner &

head of the automotive & transportation practice for Asia-Pacific Kavan Mukhtyar

said TIV for 2011 would be impacted due to production slowdown and delay in key

models launches by automakers. He added that the newly amended Hire Purchase

Act was also likely to affect TIV due to the longer lead time to complete the car

purchase process. "Vehicle sales may have slowed down considerably in the

second quarter of 2011 but will likely pick up in early August due to the rush for

Perodua Myvi delivery leading to the Hari Raya Aidilfitri celebrations and Japanese

automakers ramping up production."

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: SC: Quarterly reporting stays for listed firms

2011-07-18T10:34:00.003+08:00

The Securities Commission Malaysia (SC) has clarified that while the practice of

quarterly reporting will be reviewed in line with various proposals to improve

disclosure and transparency under the newly announced Corporate Governance

Blueprint 2011, the existing requirements for listed companies to report on a

quarterly basis still stand. "Financial reporting serves as a valuable tool in providing

investors with information to assist them in making investment decisions. As there

are varying views on the appropriate frequency for such reports, practices differ

from jurisdiction to jurisdiction. "These will therefore be the focus of discussions and

the consultation process on this issue following the release of the blueprint," it said

in a statement yesterday

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Singapore's DBS’ challenging entry into Malaysia

2011-07-18T10:34:00.001+08:00

One of the challenges facing DBS Group Holdings Ltd's possible entry into

Malaysia's Alliance Financial Group Bhd (AFG) is the high price it may need to pay

to buy out the Malaysian party in the holding company that controls 29% in AFG,

according to banking sources familiar with the situation. Singapore investment firm

Tema-sek Holdings owns 49% in Vertical Theme Sdn Bhd, the holding company

that owns 29% in AFG. The other 51% in Vertical Theme is held by local firm

Langkah Bahagia Sdn Bhd, believed to be linked to former finan-ce minister Tun

Daim Zainuddin. It has already been speculated that Temasek may hive off its stake

in AFG to DBS, Singapore's biggest lender, to pave the way for the latter's entry into

the Malaysian market. Also, earlier this year reports indicated that Langkah Bahagia

was looking to sell its interest in AFG.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia's Inflation seen peaking in June

2011-07-18T10:33:00.001+08:00

The average wage-earner may find this hard to believe but inflation is seen peaking

in June at 3.8% from a year ago after the recent hikes on electricity tariff and gas

prices. Malaysian Institute of Economic Research (Mier) executive director Dr

Zakariah Abdul Rashid said in a briefing yesterday that the consumer price index

(CPI), having risen to a two-year high in May, would likely peak in June. He said

inflation, which had been supported by higher food prices, would be more broadbased

going forward and that the gross domestic product (GDP) growth for this year

remained unchanged at 5.2%. GDP for the first quarter expanded by 4.6%

compared to a year ago and economists expect growth to be slower in the second

quarter as exports continued to drop.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

thought

2011-07-05T18:29:00.001+08:00

"What can you do right now to begin to turn your life around? The very first thing is to start making a list of things to be grateful for."

Joe Vitale
Author and Speaker

WS NEW UPDATE: Proposed palm oil law 'goes against Aussie govt policy'

2011-06-27T17:40:00.007+08:00

Malaysia can still stop Australia from passing a law that will discriminate palm oil,

said an Australia-based world trade expert, who feels the move goes against

Australian policy. If the Malaysian government gave the Australian government

incentive enough to resist the measure and explained to the state governments of

Australia why the proposal was misinformed, the Greens campaign could be

defeated," says Alan Oxley who is a former chairman of the General Agreement on

Tariffs and Trade (Gatt). The Australian Senate passed the Food Standards

Amendment (Truth in Labelling - Palm Oil) Bill 2010 on Thursday. If made law,

products with palm oil must be labelled to say it has the commodity as an ingredient.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Robust demand for luxury cars

2011-06-27T17:40:00.005+08:00

Demand for luxury vehicles in May continued to rise despite a decline in total

industry volume (TIV) that month. Sales of Volkswagen vehicles rose the most last

month, jumping 325% to 455 units from 107 units a year earlier, according to data

from the Malaysian Automotive Association (MAA). For the five-month period ended

May, sales of Volkswagen cars surged 341% to 2,057 units from 466 units a year

earlier. Within the luxury segment, sales of Mercedes Benz vehicles was the highest

in May at 541 units, which was a 19% increase from 455 units a year earlier. MAA

president Datuk Aishah Ahmad said consumer sentiment for luxury cars was still

strong, and that TIV, especially luxury makes, had been affected by the earthquake

that hit Japan in March.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Foreign property loans up

2011-06-27T17:40:00.003+08:00

Banks, especially those with regional operations, are fighting for a larger share in

the financing of foreign properties fuelled by the strength of the local currency and

weaker property markets overseas. The stronger ringgit, according to industry

observers, has led investors to scout for cheaper properties in Britain, Australia,

Singapore and in the United States to diversify their investment portfolio. RAM

Holdings group chief economist Dr Yeah Kim Leng said: "We do see growing

interest among selected Malaysian banks to extend loans for foreign property

purchases in line with overseas investment opportunities presented to local

investors, especially in countries where the property markets have hit the bottom or

poised for an upturn. Malaysian Rating Corp Bhd chief economist Nor Zahidi Alias

said the appreciation of the ringgit dramatically against the greenback and other

currencies such as the sterling pound over the past one year has induced investors

to diversify their investments to include purchasing properties overseas.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Port Klang growth plan on course

2011-06-27T17:40:00.001+08:00

The Port Klang Development Master Plan completed in April outlines a new site for

port expansion as well as detailed proposals on the redevelopment of its third port,

Southpoint. The redevelopment of Southpoint, however, is by far a done deal as

PKA Planning & Development Department Manager V.S.Vijay explains, the Master

Plan identifies redevelopment options for Southpoint. As consultants they (Orion

and GHK) have given their view and the points to consider for option A and B. What

we are doing now is studying both the options. We are also seeing which one will

benefit the government as well as the private sector, not jeopardising the interest of

any party. It should be a win-win situation," PKA Planning & Development

Department Manager V.S.Vijay told Business Times on the redevelopment of

Southpoint recently.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Tabung Haji eyes more property investments

2011-06-27T17:39:00.000+08:00

Lembaga Tabung Haji, a pilgrimage fund that manages some RM28 billion, plans to

invest more in property to grow its recurring income base. It wants properties to

account for a quarter of its investments, from 15 per cent now. Its properties are

mainly in Malaysia and Saudi Arabia. Group managing director and chief executive

officer Datuk Ismee Ismail said Tabung Haji already has properties in Mecca and

Madina and is eyeing more in Jeddah, which are all in Saudi Arabia. "In Jeddah, the

projects can be owned by us or via joint ventures unlike in Mecca and Madina

where we are not allowed to own property but allowed to lease," Ismee told

Business Times recently on the sidelines of the GLC (government-linked

companies) Open Day media briefing.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia has 65% of global sukuk market

2011-06-10T10:06:00.004+08:00

The global sukuk market recently crossed US$134bil in issuances with Malaysia

leading the way with a 65% share followed by Middle East countries with 26%

market share. Bank Indonesia deputy governor Dr Halim Alamsyah said the market

was "emerging" in various countries in the Middle East and Asia. "However, the

world sukuk market is dominated by short-term sukuk tenor which is 55%, while the

long-term tenor (for example more than 10 years tenor) is only 20%," he said in his

keynote address at the 2nd Annual World Islamic Banking Conference here. Halim

said Indonesia's sukuk market was also progressing, with a nominal amount of

US$6.2bil as of May 2011 and an annual growth of 9.3% seen in 2010.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: PNB supports Maybank’s takeover plan

2011-06-10T10:06:00.003+08:00

Permodalan Nasional Bhd (PNB) yesterday reiterated its support of Malayan

Banking Bhd's (Maybank) bid to take over RHB Capital Bhd (RHB Cap) as long as

the initiative could create or add value to its shareholders. "It's not just this initiative

of Maybank that we will support but any strategic investment plan by our associate

companies, as long as such initiatives can create or add value to us," PNB president

and group chief executive Tan Sri Hamad Kama Piah Che Othman said in response

to reporters' query after a prize giving ceremony for PNB Investment Quiz 2011

yesterday. PNB is the largest shareholder in Maybank, with a stake of 50.98%. The

latter is currently involved in a tussle with CIMB Group Holdings Bhd for control of

RHB.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: More Singapore firms to tap syariah-compliant financing

2011-06-10T10:06:00.001+08:00

More Singapore companies are keen to raise Islamic financing after a landmark

syariah REIT and local currency sukuk from Malaysia's Khazanah Nasional Bhd

stirred the city-state's interest in wholesale Islamic banking, OCBC Al-Amin said

yesterday. Companies are exploring sukuk and Islamic private equity deals as an

avenue to reach a broader class of investors, including those who can only put their

money in assets that comply with religious principles, OCBC Al-Amin's chief

executive said. These include Middle-Eastern investors and government funds that

invest according to Islamic tenets, such as Malaysia's Pilgrims Fund, Syed Abdull

Aziz Syed Kechik said.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Investments involving PPP projects beat goal

2011-06-10T10:05:00.003+08:00

Ever since its launch a year ago, the 10th Malaysia Plan (10MP) has managed to

garner a total of RM40 billion in committed investments from various public and

private initiative projects, surpassing the earlier target of RM30 billion for this year.

Minister in the Prime Minister's department in charge of the economic planning unit

(EPU) Tan Sri Nor Mohamed Yakcop said the investments were mainly from local

investors for projects such as universities and highways. Among the projects that

have been approved through the public-private partnership (PPP) is the Perdana

University collaboration with Johns Hopkins University School of Medicine and the

Royal College of Surgeon Ireland worth RM2 billion," he told reporters at a media

briefing about the progress of the 10th Malaysian Plan (2011-2015) at EPU on

Wednesday.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia April industrial output dips 2.2pc

2011-06-10T10:05:00.001+08:00

The industrial production index, a measure of factory performance, among others,

fell 2.2 per cent in April, its first decline since November 2009. Credit Suisse

economist Wu Kun Lung said this was not a complete surprise as the Japanese

earthquake would have affected certain factories in Malaysia while weaker

economic growth abroad would have compounded this. The Statistics Department

said yesterday the IPI decreased 2.2 per cent from a revised 2.9 per cent in March.

Dr Chua Hak Bin of Bank of America Merrill Lynch, said the government will have to

expedite investment and infrastructure projects following the disappoin-ting April

reading, which suggests the second quarter GDP growth be weaker.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: RM30bil worth of PPP projects to be developed this year

2011-05-25T17:50:00.007+08:00

A total of RM30bil worth of projects under the Public Private Partnership (PPP) are

expected to be implemented this year from RM18bil recorded last year, said Prime

Minister's Department public private partnership unit director-general Datuk Seri Dr

Ali Hamsa. "Among the projects to be implemented are the construction of new toll

highways, hospitals and universities' campus branches," he said at a press

conference after the launch of PPP Workshop Series 2 yesterday. To date, a total of

513 projects, including 165 new ones had been implemented where a total of

113,487 jobs had been transferred from the Government's payroll to that of the

private sector, generating savings of RM163.8bil in capital expenditure and

RM8.9bil in operating expenditure.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Acqua SPV makes ‘fair value’ bid for Selangor water bonds

2011-05-25T17:50:00.005+08:00

Acqua SPV Bhd, a special-purpose vehicle set up by Pengurusan Aset Air Bhd

(PAAB), has made a firm offer to take over Selangor water bonds. According to

documents obtained by StarBiz, Acqua SPV will pay the bondholders based on their

relevant purchase yield to maturity. The offer documents also provided a

comprehensive table explaining the settlement value. The payment will be made to

bondholders by June 30. However, it is conditional upon the receipt of valid

acceptances by 5pm on May 31. Acqua SPV will hold more than 75% of the nominal

value of the securities. PAAB has appointed Maybank Investment Bank Bhd as

adviser in the offer.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Firms told to tap social networking

2011-05-25T17:50:00.003+08:00

Malaysian firms should take advantage of the vast potential of social networking,

which has become the most prominent virtual platform in Malaysia, to help expand

their markets. Malaysia External Trade Development Corp (Matrade) chief executive

officer Datuk Norahuddin Nordin said that social networking now accounts for 71 per

cent of online activities across the nation. The Malaysian advertising market across

all media recorded an overall increase of 16 per cent last year at RM7.7 billion with

the Internet recording the second highest growth in advertising spending, from

RM40.44 million in 2009 to RM52.15 million in 2010.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: US companies say attrition a concern

2011-05-25T17:50:00.001+08:00

American firms described the high attrition rate within the electrical and electronic

(E&E) industry in Malaysia as one of their main concerns, saying it could impact

their plans to go up the production value chain. One of them lamented at the

number of trained graduates and retention rate by companies, during a roundtable

meeting on business opportunities in Malaysia organised by the International Trade

and Industry Ministry (Miti) and the Malaysian Investment Development Authority

(Mida) here yesterday. He said although Malaysia-based companies stood a better

chance than those in Singapore in terms of cost for going into chip design, the high

attrition rate in E&E companies in the north, due to "pinching" of employees, posed

a setback.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: EPF: Check statements regularly

2011-05-25T17:49:00.000+08:00

The Employees Provident Fund (EPF) has launched a new media campaign,

involving television and radio advertisements to drive members to check their

account statements regularly. EPF general manager Nik Affendi Jaafar said the

campaign aims at promoting awareness among members on the importance of

going through their statements to ensure that their employers have submitted their

contributions accurately and timely. Should there be anything amiss, the member

must immediately seek an explanation from the employer or report to the EPF," he

said in a statement. Nik Affendi said EPF has recently completed the distribution of

over 6.4 million members' account statements for 2010.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: SME role likely to top Apec talks

2011-05-19T15:21:00.007+08:00

Ensuring a pivotal role for small and medium enterprises (SMEs) within the global

supply chain will likely be the main focus of senior trade ministers from the 21

Pacific Rim economies when they meet here today. The Asia-Pacific Economic

Cooperation (Apec) meeting, hosted by the US this year, will see trade ministers

working closely with their SME counterparts to draw up a proposal or strategy in

time for the leaders' meeting that will be held in Honolulu in November. During last

year's meeting held in Japan, Apec leaders agreed on a growth strategy to support

SME development of high valued-added products, increase their access to global

markets, and also look into barriers which impact their trading ability.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Economists: IMF unlikely to change policies

2011-05-19T15:21:00.005+08:00

The long-term policies of International Monetary Fund (IMF) will unlikely change

even if a new head is appointed following the arrest of Dominique Strauss-Kahn

over a sexual allegation. Local economists believe that given IMF's responsibility in

overseeing the global financial stability, a removal of its chief will have less impact

on its main role to provide financial assistance to countries that experience serious

financial and economic difficulties. Group chief economist of RAM Holdings, Dr

Yeah Kim Leng said such function of the IMF is not likely to change. MIDF

Research chief economist Anthony Dass said the short-term policies of IMF may

see some slight changes but the long-term ones are "expected to stay put".

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE : Bank Negara keeps inflation projection between 2.5pc-3.5pc

2011-05-19T15:21:00.003+08:00

Bank Negara Malaysia is maintaining its inflation rate projection between 2.5 per

cent and 3.5 per cent this year, despite mounting inflationary pressures. "We have

already made a projection between 2.5 per cent and 3.5 per cent and our

expectation is that it will be closer at the higher end of the projection. "This

(projection) has taken into account some of the adjustments to be made along the

way. Should the adjustment exceed what we have priced in, there may be a need to

make a revision," Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz told a press

conference here yesterday. The Statistics Department yesterday announced that

the consumer price index (CPI) for April stood at 3.2 per cent from a year ago,

driven by higher food and transportation prices. Zeti said the headline inflation rate

as measured by the change in the CPI, rose by 2.8 per cent on an annual basis in

the first quarter of 2011. This was due primarily to the increase in global commodity

and food prices.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: New rules to boost investments abroad

2011-05-19T15:21:00.001+08:00

Bank Negara Malaysia (BNM) has announced new measures to liberalise direct

investments abroad as well as inter-company loans and trade financing facilities

obtained by resident companies, effective from June 1. The central bank also said

the Malaysian economy grew 4.6 per cent in the first quarter of the year, driven by

domestic demand. To support private sector expansion and direct investments

abroad, resident companies that meet "the prudential requirements" will be

excluded from the prevailing RM50 million limit on investments in foreign currency

assets, BNM governor Tan Sri Dr Zeti Akhtar Aziz said. Resident companies also

can now borrow any amount in ringgit or foreign currencies from their resident and

non-resident non-bank related companies.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Import ban on used car parts set to stay

2011-05-16T17:26:00.001+08:00

The Malaysia Automotive Recyclers Association's (MAARA) hopes for the

government to allow importation of used automotive spare parts and components

will likely be squashed. The gradual phase-out of imported used parts and

components is one of the measures introduced under the review of the National

Automotive Policy (NAP). The policies and measures under the NAP were

undertaken based on consultations with the industry and relevant government

agencies. Therefore, the question whether the government will reconsider this

decision or not doesn't arise," said a Miti spokesperson via an email reply. Under

the NAP, importation of used parts and components will be prohibited starting June

2011.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: RSM to help bring in foreign investors

2011-05-16T17:25:00.007+08:00

RSM RKT Group, a member firm of RSM International, is seeking foreign

investments for several projects under the Economic Transformation Programme

(ETP) worth several hundred million ringgit. Girish Ramachandran, the executive

director of RSM Strategic Business Advisors said that in the healthcare sector, RSM

RKT is close to inking a deal with the world's top 10 private operators to set up shop

in Malaysia. The financial close will be at year end. We are also working on a few

other developments in the east coast, namely palm oil projects and retail. We are

helping companies to raise funds to undertake bigger projects," he said.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia online shopping mart seen hitting RM5b by 2014

2011-05-16T17:25:00.005+08:00

The online shopping market in Malaysia is expected to hit RM5 billion by 2014 with

higher broadband penetration. More people are using the Internet to shop due to its

convenience, said managing director for PayPal Southeast Asia and India, Elias

Ghanem. Last year, domestic online sales stood at RM1.8 billion, with 45 per cent

done on local websites mainly for travel as well as to buy financial products,

clothing, shoes and accessories. Ghanem said the market will grow by 29 per cent a

year as more merchants make their products and services available online.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysia-Indonesia council to counter bad press on palm oil

2011-05-16T17:25:00.003+08:00

Malaysia and Indonesia are pooling in efforts to tackle negative publicity towards

palm oil with a European Palm Oil Council (EPOC) in the offing. It will provide the

industry a collective platform to represent both countries on public debates that

relate to palm oil issues. Both countries hope to finalise the proposal on the EPOC

by the end of the year, said a communique after the Sixth Joint Committee Meeting

(JCM) on Bilateral Cooperation on Commodities between Malaysia and Indonesia in

Kuching on Friday. Minister of Plantation Industries and Commodities Tan Sri

Bernard Dompok and his Indonesian counterpart Minister of Agriculture Dr Ir H

Suswono led discussions. On the EU Directive on the Promotion of the Use of

Renewable Sources (EU RED), both governments agreed to accelerate work in

obtaining legal views regarding the consistency of the EU RED with the WTO

provisions.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Good response to Invest Malaysia NY

2011-05-16T17:25:00.001+08:00

A total of 56 US fund managers have confirmed participation at the inaugural Invest

Malaysia New York 2011 (IMNY 2011), which will be held tomorrow, Malayan

Banking Bhd (Maybank) president and chief executive officer Datuk Seri Wahid

Omar said. Wahid said Prime Minister Datuk Seri Mohd Najib Razak's personal

involvement in IMNY 2011 will go a long way towards strengthening the interests

and boosting the confidence of US businesses, investors and fund managers

towards Malaysia. This encouraging turnout also reflects the immediate payoffs

from another of Maybank's key milestone in 2011, which is the acquisition of Kim

Eng that has enabled us to leverage and tap into Kim Eng's presence in the US," he

said in a statement

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Faiez Hakim

2011-05-10T09:53:00.003+08:00

faiez@wealth-supremacy.com

Mohd Faiez Hakim Mohd Anuar ,affectionately known as Isz is a Kuala Lumpur boy. He graduated from Universiti Teknologi MARA with Bachelor of Architecture and Interior Design. He started his career as an Assistant Architect. As he has an interest in business, he also developed a business in the automotive industry. Somehow there was something missing in his life. He wanted to make an impact to other people’s lives and his search led him to the financial advisory industry. Without hesitation he plunged into this industry. He succeeded very quickly and in a very short span of time he was asked by his company to develop a team of consultants. Faiez believes in giving professional advice and is now in the process of completing the tough professional designation – Islamic Financial Planner which is offered by the Financial Planner Association of Malaysia.

Faiez believes that “Health is Wealth”. When he is not busy giving financial advice, he can be found in the gym, keeping fit or in the jungle trekking. Isz believes that growing old is process that we will all go through, thus he believes in giving attention and respect to the elderly

WS NEW UPDATE: EPF CEO says new strategic RHB partner should share synergies

2011-05-04T16:55:00.005+08:00

The new strategic partner taking over Abu Dhabi Commercial Bank's (ADCB) stake

in RHB Capital Bhd should ideally be a banking group, said Tan Sri Azlan Zainol,

non-independent non-executive director of RHB Capital and chairman of RHB Bank

Bhd. Generally, if we can have a say, our preference would be for a banking group

that has the synergies with RHB,'' he told StarBiz yesterday. According to Azlan,

who is also CEO of the Employees Provident Fund (EPF) that owns 45% of RHB

Capital, if it is a private equity firm, it must have run banks before and have in place

good risk management, systems, processes and business connections.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Knowledge of industry vital for company board

2011-05-04T16:55:00.003+08:00

Board members must have adequate knowledge of the industry that their company

is involved in, said Securities Commission (SC) chairman Tan Sri Zarinah Anwar.

She said this would enable the board to question and challenge recommendations

being put forward to them. Speaking at the Corporate Directors Conference 2011,

she said a knowledgeable board would have the credibility to question management

decisions on issues affecting the company. An effective way to improve the board's

performance was by undertaking an assessment as it would reinforce the board's

roles and accountability. "Through assessment, the board can benchmark its

performance as well as review an individual director's competence."

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: SunREIT’s net profit at RM44mil

2011-05-04T16:55:00.001+08:00

Sunway Real Estate Investment Trust (SunREIT) posted a net profit of RM43.7mil

for the third quarter ended March 31. SunREIT said its pre-tax income was

RM43.7mil comprising realised net income of RM43.2mil and unrealised income of

RM500,000 arising mainly from fair value adjustment on financial derivatives. Gross

revenue was RM82.3mil while net property income stood at RM61mil. Distributable

income was RM45.5mil, comprising realised income of RM43.2mil and surplus cash

arising from 50% of manager fee payable in units of RM2.3mil, it said. SunREIT has

declared a third interim income distribution of 1.70 sen per unit for the third quarter

ended 31 March. For the first nine months, SunREIT's income before taxation was

RM399.6mil comprising realised net income of RM126.2mil and unrealised income

of RM273.4mil .

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Red-flagged' firms hit by investor backlash

2011-05-04T16:54:00.000+08:00

Companies that were red-flagged by auditors and those that reported stark

difference in their audited net earnings, saw their stocks punished by investors

yesterday. The selldown in some of the companies was systematic, as investors

were wary of their long-term prospects. Since Friday, some 16 companies either

had their books qualified by external auditors, or had revealed significant variance in

their audited net earnings. From the 16, eight companies saw their share prices fall,

while two closed unchanged. Shares in the other six companies were untraded

yesterday. According to analysts, these variance between unaudited and audited

numbers will, to a certain extent, change investors' long-term view of the

companies. While most analysts feel that most of these "incidents" are mainly driven

by companies' misinterpretation of the new accounting standards, some feel that it

could be a sign of more bad news to come.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: MSC upbeat about TMR’s listing

2011-04-28T14:15:00.007+08:00

Ace Market-bound Indonesian tin mining operator TMR Ltd is set to be a significant

investment to Malaysia Smelting Corp Bhd (MSC) given its offshore mining

operations. MSC is one of the world's largest integrated producers of tin metal and

tin-based products with tin mining and smelting assets in Malaysia and Indonesia.

Even though MSC's existing stake in TMR of 18.5% will be diluted to 15% after the

listing exercise, the offshore mining operation will add another feather in MSC's cap

which is currently focusing on onshore mining activities," a source close to TMR told

StarBiz yesterday. MSC stands to benefit from the expected dividend payment from

TMR which was slated to be upgraded to the main board, the source added.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: China bank offer to buy EON Cap stake needs to get waiver from Act

2011-04-28T14:15:00.005+08:00

One of the factors that is being considered by Bank Negara in reviewing the

application by China Construction Bank Corp (CCB) to buy into EON Capital Bhd

(EON Cap) is the fact that another state-owned bank from China, the Industrial and

Commercial Bank of China (ICBC), already has a banking licence in Malaysia,

industry sources said. CCB's largest shareholder is Central Huijin Investment Ltd

which is a state-owned investment company in China. Under Malaysia's Banking

and Financial Institutions Act (Bafia), no single party is supposed to own more than

one banking licence. This is the same complication said to be affecting Abu Dhabi

Commercial Bank's (ADCB) investment in RHB Capital Bhd.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Digital adex seen to grow by 3%-7% within five years

2011-04-28T14:15:00.003+08:00

The digital advertising expenditure (adex) in Malaysia is expected to grow by 3% to

7% in the next three to five years, according to audience measurement providers

Effective Measure. According to figures by Nielsen Advertising Information Services,

Internet advertising grew approximately 29% to RM52.15mil last year. Other

tracking specialists recorded RM148mil in 2010 and are predicting Internet

advertising to hit RM222mil in 2011. The Malaysian Digital Association (MDA) is

working alongside digital research company Pulse Group to conduct a survey

involving over 200 advertisers and agencies to establish the adoption rate of online

media and advertising.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Danajamin guarantees bond

2011-04-28T14:15:00.001+08:00

Danajamin Nasional Bhd says it has guaranteed Gema Padu Sdn Bhd's RM170mil,

seven-year Islamic Securities Programme, rated AAA. This is the first time that

Danajamin is providing the financial guarantee to a non-public listed company's

bond. Gema Padu, the developer of the Kota Warisan township, is making its first

foray into the sukuk market. In a statement yesterday, Danajamin said a total of

RM100mil sukuk with a four-year tenure was issued under the programme and fully

subscribed.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Ringgit may hit 2.93 per US$ soon

2011-04-27T11:10:00.009+08:00

The ringgit is expected to continue its rally to greater heights in the near term, and

towards 2.97 per US dollar in a month, before hitting 2.93 against the dollar in three

to six months. "The estimation is based on our recent exercise on the econometric

modelling of the local currency," AmResearch senior economist Manokaran Mottain

told Bernama when asked on ringgit's performance yesterday. Overall however, he

said any rally might be subjected to some profit-taking activities in the long term,

and this would see the unit weakening to around 2.97 by the end of this year. Apart

from an anticipated weakening of the dollar on expectations of continued monetary

easing, speculations of a potential increase in the overnight policy rates (OPR)

domestically pushed the unit to a 13-year high of 2.99 against the greenback

yesterday, he said.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Local exporters gain from regional FTAs

2011-04-27T11:10:00.007+08:00

The number of country of origins (COOs) certificates issued to companies in

Malaysia exporting to Europe and Asia-Pacific has increased by 22.8% in the first

quarter compared with the same period last year. Such preferential certificate of

origins is a document which enables products to enjoy tariff reduction or zero duty

when the products are exported to other countries that participate in trade

arrangement with Malaysia. International Trade and Industry Min istry director

(Penang) Ahmad Rizal told StarBiz the value of trade using COOs within that period

had also increased by 4.8% to RM28.3bil from RM26.9bil previously.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: RM1.15bil shot in the arm for Sime

2011-04-27T11:10:00.005+08:00

The RM1.15bil contract win by Sime Darby Bhd's wholly-owned Sime Darby

Engineering Sdn Bhd to fabricate topsides for the Kebabangan northern hub

development project is viewed positively by analysts as it shows progress for the

conglomerate to turn around losses in the oil and gas (O&G) division. The project is

secured from Kebabangan Petroleum Operating Company Sdn Bhd. "This is good

news as the contract more than doubles the group's order book to RM2.2bil. It will

enhance the financial year (FY) 2012 to 2013 earnings by 1% and boost investors'

confidence in the turnaround efforts for the oil & gas unit," said CIMB Research

senior regional analyst Ivy Ng. AmResearch analyst Alex Goh said this contract will

cause Sime's O&G order book to surge by 77% from RM1.5bil as at Dec 31, 2010

to RM2.7bil.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Financially distressed Tricubes gets 'lifeline'

2011-04-27T11:10:00.003+08:00

Tricubes Bhd, which admitted that the RM50mil 1Malaysia e-mail project was a

"lifeline" for the financially distressed company, had secured a RM5.3mil financing

facility from a venture capital outfit and would have a rights issue to fund the project.

"We have secured an initial investment of RM5.3mil from Mavcap (the Malaysia

Venture Capital Management Bhd) and the balance will be funded through equity,

debt or a rights issue," Tricubes chief executive officer Khairun Zainal Mokhtar told a

media briefing yesterday. The briefing was held to "correct" perceptions surrounding

the Guidance Note 3 (GN3) company (as its shareholders' fund was 50% lower than

its paid-up capital) and its appointment to undertake this entry point project under

the Economic Transformation Programme.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE : CIMB Niaga net profit up 39% in first quarter

2011-04-27T11:10:00.001+08:00

CIMB Group Holdings Bhd's 97.9% (indirectly held) subsidiary, PT Bank CIMB

Niaga Tbk (CIMB Niaga), reported a consolidated net profit (unaudited) of 727.53

billion rupiah in the first quarter ended March 3 1, which was 39% higher than the

same period last year. In a statement, CIMB Niaga said its increased operating

income contributed to the increasing profit as the bank's loan book rose by 31% to

109.98 trillion rupiah. The bank successfully recorded relatively well-distributed

growth across all business segments: corporate, commercial and retail. It said it

would continue to improve its Islamic lending, microfinancing and rahn service the

last two being the latest products developed by CIMB Niaga and have shown great

prospects and growth pportunities.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Equity funding to play bigger role in economy

2011-04-26T09:46:00.009+08:00

MIDF Amanah Investment Bank Bhd (MIDF Investment) foresees equity funding

playing a bigger role in the development of the economy in the next 10 years. Its

senior vice-president and head of research Zulkifli Hamzah said as a big component

of the capital market, the equity market deserves to receive special focus and

attention. If managed rightly, the wealth effect from the equity market can accelerate

the achievement of Malaysia's target of becoming a high- income nation by 2020,"

he told reporters on the sidelines of Minggu Saham Amanah Malaysia 2011 here

last Friday

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Bernas gets agreement extension for ten more years

2011-04-26T09:46:00.007+08:00

Padiberas Nasional Bhd (Bernas) has on April 22 received a letter from the Public

Private Partnership Unit under the Prime Minister's Department on the extension of

the Bernas Agreement, which gives Bernas monopoly over the country's rice

imports, for a period of ten years. It told Bursa Malaysia yesterday that the

extension commenced from Jan 11, 2011 to Jan 10, 2021 subject to the terms and

conditions to be mutually agreed between both parties. It added that the

Government had also agreed to grant Bernas an interim period of six months from

Jan 11 to July 10, 2011 to enable both parties to finalise the terms and conditions of

the new agreement.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: EPF to up investment in global equity and fixed income

2011-04-26T09:46:00.005+08:00

The Employees Provident Fund (EPF) will intensify its investment in global equity

and fixed income in line with its diversification plan to add value and provide a

reasonable rate of return to the savings of its members. Speaking at the 2010

External Portfolio Managers Awards ceremony yesterday, chairman Tan Sri

Samsudin Osman said the EPF would be outsourcing US$1bil to eight fund

managers for the global fixed income mandate and RM500mil to two fund managers

for domestic absolute return fixed income mandate. Speaking at the 2010 External

Portfolio Managers Awards ceremony yesterday, he said maintaining the present

level of dividend (5.8% for 2010) would be tough without diversifying abroad.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: M'sia taking steps to reduce broadband rates

2011-04-26T09:46:00.003+08:00

A new consortium, Konsortium Rangkaian Serantau Sdn Bhd under the Entry Point

Projects (EPPs), has been set up to buy international bandwidth for Internet traffic to

lower the costs of Internet protocol (IP) transit, according to Information,

Communication and Culture Minister Datuk Seri Utama Dr Rais Yatim. The

announcement confirmed a StarBiz report on March 23 that a consortium was being

set up to buy international bandwidth for Internet traffic in bulk in a bid to reduce IP

transit cost. StarBiz reported that the consortium may build and own an undersea

cable network or partner other cable networks for capacity in a private-public

partnership to address the problem of high IP transit cost. The reduction of IP transit

cost is part of the "extend the regional reach" initiative under the Economic

Transformation Plan. IP transit cost is the cost service providers pay to carry

Internet traffic around the world but because most sites are hosted in the United

States, traffic volumes to the US are high.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Stronger ringgit not a problem

2011-04-26T09:46:00.001+08:00

An appreciating ringgit will not have as much of an impact on the exports front as

long as it strengthens in tandem with other currencies in the region. Malaysia's top

five export destinations in February were Singapore, China, Japan, the European

Union and the United States. These countries were also the top five destinations for

exports last year. Economists told StarBiz that a strengthening ringgit would not be

a problem as long as the currency's movement was synchronised with the region

where competitors include Thailand, Indonesia and the Philippines. Malaysia's

competitors in the electrical and electronics (E&E) industry, which made up nearly

40% of total exports last year, include South Korea and Taiwan.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Impact of global uncertainty uncertainty on M'sia to be seen in 2-3 months

2011-04-19T17:04:00.009+08:00

The impact of global uncertainty stemming from political unrest in the Middle East

and North Africa, the devastating tsunami in Japan as well as debt and deficit woes

in Europe and the United States on Malaysian trade and investment is expected to

be known in two to three months. International Trade and Industry Minister Datuk

Seri Mustapa Mohamed said yesterday that as of now, Malaysia was still able to

withstand the impact, based on the encouraging trade growth in the first two months

of this year. This year will be more challenging than 2010 but it's too early to gauge

the impact," he told reporters after the ministry's monthly assembly here.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Incentives for electric, hybrid vehicles will continue, says Mukhriz

2011-04-19T17:04:00.007+08:00

The Government will continue to give special incentives to companies involved in

assemblying electric, hybrid and environment friendly cars in the country, said

Deputy International Trade and Industry Minister Datuk Mukhriz Tun Dr Mahathir.

He said these include tax exemptions so that the cars would be affordable for the

people from all levels of society. "To-date, several companies have applied to

assemble environment friendly cars but the Government understands that they are

still in the process of setting up capacities. "These incentives are supposed to be

there until the end of this year but we might continue to give them for next year ... so

that these companies are able to set up their manufacturing plants as soon as

possible," he said after officiating the AGM of Sultan Ibrahim 1 Secondary School

here yesterday.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: CIMB unit and UI in tie-up to promote Asean integration

2011-04-19T17:04:00.005+08:00

CIMB Asean Research Institute (CARI), a unit of CIMB Group Holdings Bhd, has

inked an agreement with Universitas Indonesia (UI) to undertake collaborative

educational and research programmes to promote Asean integration. CARI

commissioner Glenn Muhd Surya Yusuf signed on behalf of the institute while UI

was represented by Prof Firmanzah. CIMB group chief executive Datuk Seri Nazir

Razak and UI partnership and business incubation director Prof Wiku Adisasunito

witnessed the signing. Fully-funded by CIMB, CARI is a transnational research

institute dedicated to the advancement and acceleration of the Asean agenda.

Glenn said in a statement that the institute was established to champion the private

sector's participation in supplementing Asean secretariat's and governments' efforts

on Asean integration.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Supervisory capabilities in preventing financial woes

2011-04-19T17:04:00.003+08:00

Bank Negara assistance governor Donald Joshua Jaganathan said a well-designed

supervisory framework for the insurance industry and effective surveillance will help

to minimise the likelihood and impact of a financial crisis. He added that there were

some on-going initiatives taken by the international community of supervisory

authorities to better manage the financial sector moving forward. "Firstly,

supervisors are required to have in place macro prudential surveillance to monitor

the inter-linkages of potential vulnerabilities in particular cross-border transmission

of risks," he said at the Crisis Preparedness for Insurance Supervisors seminar

organised by Asean Insurance Training and Research Institute- Toronto Centre

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: 1Malaysia Micro Protection Plan for the public

2011-04-19T17:04:00.001+08:00

1Malaysia Micro Protection Plan (1MMPP) has been developed to enhance

accessibility and affordability of insurance and takaful protection for Malaysians.

General Insurance Association of Malaysia said the plan, developed by the

insurance and takaful industry together with the support of Bank Negara, was open

to small businesses. It was also open to micro enterprises and individuals seeking

accessible and affordable financial protection in managing unexpected events such

as death, illnesses, accidents, fires and loss of property, the association said in a

statement. The plan will provide 4 options – life insurance, family takaful, general

insurance and general takaful – with the conventional and takaful products sharing

common features, coverage, terms and conditions and premium/contribution

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Irda: Events in IIB will not affect Iskandar Malaysia

2011-04-08T14:34:00.005+08:00

New domestic and foreign investments into Iskandar Malaysia are unlikely to be

affected by the alleged malpractices in Iskandar Investment Bhd (IIB). Iskandar

Regional Development Authority (Irda) chief executive officer Ismail Ibrahim said all

stakeholders would continue to work even harder to attract more new investments

to the region. He said the existing investors had conducted in-depth studies before

deciding to park their money in Iskandar Malaysia. "One or two (negative) episodes

will not jeopardise the concerted efforts made by Irda and other stakeholders to

promote Iskandar Malaysia to investors,'' said Ismail.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Malaysian Media Awards to strive for greater transparency

2011-04-08T14:34:00.003+08:00

The Malaysian Media Awards organised by the Media Specialists Association

(MSA) will strive for greater transparency this year. Organising committee chairman

Andy Miller said the MSA would invite representatives from the Malaysian

Advertisers Association and Association of Accredited Advertising Agents Malaysia

to join its judging panel. It has updated the definitions for each award category to

make it clearer to entrants. Another change made this year was that the organiser

would also give credit to the creative agency partners in each campaign entry, he

told a press conference yesterday.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: SPAD: MRT will be completed on schedule

2011-04-08T14:34:00.001+08:00

The mass rapid transit (MRT) system's project delivery partner (PDP) should step in

and complete any works in the MRT project if the awarded contractors fell behind

schedule, said Land Public Transport Commission (SPAD) CEO Mohd Nur Kamal.

"Syarikat Prasarana Negara Bhd (SPNB), the PDP and the work package

contractors would sign a tripartite agreement to ensure that the MRT project

development would be carried out according to the target cost and stipulated time

frame. "This is why we need experienced contractors to be the PDP so that it can

step in and finish the job within the target cost and time in case the work package

contractors fail to do so. The PDP will be compensated accordingly as per the

agreement for the work package contractors," he told reporters at media briefing

yesterday. This is first of the weekly briefing session on development of the MRT

project.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Tenaga defends RM5bil plant extension

2011-04-08T14:33:00.002+08:00

Tenaga Nasional Bhd's (TNB) 1,000MW coal-fired Janamanjung plant extension, to

cost RM5bil, may be deemed too expensive by certain analysts but its CEO Datuk

Seri Che Khalib Mohamad Noh points out its higher efficiency and usage of cleaner

technology as mitigating factors. With the rising price of coal, TNB is placing priority

on plant efficiency besides taking into account various environmental requirements.

"It was an open international tender,'' Che Khalib told StarBiz yesterday. Of the

three bidders that pre-qualified Alstom, Mitsubishi and Siemens two tenders were

received from Alstom and Mitsubishi.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Mitsui buys 30% of Integrated Healthcare for RM3.3bil

2011-04-08T14:33:00.001+08:00

Mitsui & Co Ltd of Japan has bought a 30% stake in Integrated Healthcare Holdings

Sdn Bhd, which controls Parkway and Pantai hospitals, for RM3.3bil, in the largest

Japanese investment in healthcare in the region. Khazanah, via its wholly-owned

subsidiary Pulau Memutik Ventures, will own the remaining 70% of Integrated

Healthcare. "This investment by Mitsui, which is their third largest investment, is a

growing testimony that investor confidence is increasing in Malaysia," said CIMB

group chief executive officer Datuk Seri Nazir Razak. Under the agreement, Mitsui's

subsidiary will subscribe to 989 million new ordinary shares representing about 18%

of the enlarged share capital of Integrated Healthcare, and acquire 661 million

existing shares in Integrated Healthcare representing up to 12% of the enlarged

share capital of Integrated Healthcare.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Forum to highlight halal trade

2011-04-01T18:00:00.009+08:00

Over the past four decades, Islamic banking has emerged as one of the fastest

growing industries at an estimated growth rate of 15-20% per annum. It has spread

to all corners of the globe and received wide acceptance by both Muslims and non-

Muslims. The global market value for trade in the halal industry has grown

exponentially over the last few years. Trade in halal food is estimated at US$661bil

a year and Malaysian halal certificates are widely sought by producers worldwide.

Awareness of halal products has begun to shift beyond the food sector towards

other industries, including services

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Mukhriz: Boost business activity with Pakistan

2011-04-01T18:00:00.007+08:00

The Malaysian-Pakistan Business Council (Mal-Pak) must re-examine the strengths

and weaknesses of both nations and bring in entrepreneurs to fill in the gaps based

on a win-win formula. "There is still much room for improvement and to deepen

economic integration between two countries through the free trade agreement,"

International Trade and Industry Deputy Minister Datuk Seri Mukhriz Mahathir said

at the launch of Mal-Pak yesterday. He said the business council should share

information and assume proactive roles to promote bilateral trade and investment.

Mukhriz said bilateral trade between both countries was on an upward trend.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

WS NEW UPDATE: Banks likely to maintain ROE after Basel III

2011-04-01T18:00:00.005+08:00

Accenture, a global management consulting, technology services and outsourcing

company, expects Malaysian banks to maintain their return on equity (ROE) after

the implementation of Basel III standards. This will be achieved via tighter cost

management, better customer selection and differentiation strategy, said Accenture

Risk Management Asia-Pacific managing director Phillip Straley. BASEL III is a new

global regulatory standards on bank capital adequacy and liquidity as agreed by

members of the Basel Committee on banking supervision. Straley said with the

implementation of Basel III starting 2013, it would be harder for banks to achieve a

high ROE due to greater capital requirement in the regulatory standards.

Sources

TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times

Your Preferred Financial Solution Coach

WS NEW UPDATE: Linde to invest at least RM600m in Malaysia

WS NEW UPDATE: Companies doing better overseas

WS NEW UPDATE: Is RHB-MBSB merger on?

WS NEW UPDATE: Citibank sees Malaysia's main market index hitting 1,500-1,600 points

WS NEW UPDATE: CIMB sets sight on Laos

WS NEW UPDATE: Businesses in northern states benefiting from Thai floods

WS NEW UPDATE: CIMB Group not keen to buy Phatra, says source

WS NEW UPDATE: UAE businesswomen look for opportunities especially in halal food industry

WS NEW UPDATE: M’sia trade on uptrend

WS NEW UPDATE: October factory output up 2.8%

Passion

High fees dampener for unit trust

Saturday November 12, 2011

High fees dampener for unit trust

By DALJIT DHESI daljit@thestar.com.my

EPF: Before it is too late!

FT: BNM taking ‘major risks’ with inflation, but maintains interest rates

WS NEW UPDATE: Foreign net stock buying spills into November

WS NEW UPDATE: SOBA winners say thinking out of the box is one of the hallmarks of success

WS NEW UPDATE: M'sia has sufficient funds and is insulated from debt crisis and recession

WS NEW UPDATE: CIMB is top sukuk underwriter

Thought

WS NEW UPDATE: CIMB-Trust Capital buys building

WS NEW UPDATE: Asean geared to face crises

WS NEW UPDATE: Pharmaniaga in Mid-East JV deal

WS NEW UPDATE: CIMB: Thai floods to have small impact on earnings

WS NEW UPDATE: Malaysia beats Caexpo sales target

Thoughts

WS NEW UPDATE: SPAD, Puspakom in pact to weed out unfit vehicles

WS NEW UPDATE: MISIF says Govt move to stop probe into imports of HRC is good

WS NEW UPDATE: Maybank hopes Indonesia won’t change policy on foreign shareholding in banks

WS NEW UPDATE: Matrade maintains export growth target

WS NEW UPDATE: Growth concerns roil global markets

WS NEW UPDATE: Petronas Dagangan looks abroad

WS NEW UPDATE: July vehicle sales down again

WS NEW UPDATE: Maxis, MDeC in cloud computing connection

WS NEW UPDATE: US investment trend in Malaysia to remain strong

WS NEW UPDATE: CIMB among banks hired for planned MU listing

Thought

Thought

Thought

WS NEW UPDATE: AirAsia-ANA tie-up likely

WS NEW UPDATE: Frost & Sullivan revises down vehicle sales TIV

WS NEW UPDATE: SC: Quarterly reporting stays for listed firms

WS NEW UPDATE: Singapore's DBS’ challenging entry into Malaysia

WS NEW UPDATE: Malaysia's Inflation seen peaking in June

thought

WS NEW UPDATE: Proposed palm oil law 'goes against Aussie govt policy'

WS NEW UPDATE: Robust demand for luxury cars

WS NEW UPDATE: Foreign property loans up

WS NEW UPDATE: Port Klang growth plan on course

WS NEW UPDATE: Tabung Haji eyes more property investments

WS NEW UPDATE: Malaysia has 65% of global sukuk market

WS NEW UPDATE: PNB supports Maybank’s takeover plan

WS NEW UPDATE: More Singapore firms to tap syariah-compliant financing

WS NEW UPDATE: Investments involving PPP projects beat goal

WS NEW UPDATE: Malaysia April industrial output dips 2.2pc

WS NEW UPDATE: RM30bil worth of PPP projects to be developed this year

WS NEW UPDATE: Acqua SPV makes ‘fair value’ bid for Selangor water bonds

WS NEW UPDATE: Firms told to tap social networking

WS NEW UPDATE: US companies say attrition a concern

WS NEW UPDATE: EPF: Check statements regularly

WS NEW UPDATE: SME role likely to top Apec talks

WS NEW UPDATE: Economists: IMF unlikely to change policies

WS NEW UPDATE : Bank Negara keeps inflation projection between 2.5pc-3.5pc

WS NEW UPDATE: New rules to boost investments abroad

WS NEW UPDATE: Import ban on used car parts set to stay

WS NEW UPDATE: RSM to help bring in foreign investors

WS NEW UPDATE: Malaysia online shopping mart seen hitting RM5b by 2014

WS NEW UPDATE: Malaysia-Indonesia council to counter bad press on palm oil

WS NEW UPDATE: Good response to Invest Malaysia NY

Faiez Hakim

WS NEW UPDATE: EPF CEO says new strategic RHB partner should share synergies

WS NEW UPDATE: Knowledge of industry vital for company board

WS NEW UPDATE: SunREIT’s net profit at RM44mil

WS NEW UPDATE: Red-flagged' firms hit by investor backlash

WS NEW UPDATE: MSC upbeat about TMR’s listing

WS NEW UPDATE: China bank offer to buy EON Cap stake needs to get waiver from Act

WS NEW UPDATE: Digital adex seen to grow by 3%-7% within five years

By DALJIT DHESI
daljit@thestar.com.my