The Star Online: Business

Japan's Nikkei index falls to 4-month low Friday

Fri, 20 Nov 2009 15:53:20 +0800

TOKYO: Japan's Nikkei stock index fell to a four-month low Friday, pressured by uncertainty over the government's handling of the deflation-plagued economy.

Japan warned Fri that deflation can drag on recovery

Fri, 20 Nov 2009 15:52:21 +0800

TOKYO: Japan's government highlighted the danger of deflation for the first time in three years Friday, warning that falling prices and a further worsening of the labor market could drag on the weak recovery.

Shoes made of recycled paper, not cheap US$100 a pair

Fri, 20 Nov 2009 15:44:07 +0800

TAIPEI: Confronted with an ever-growing pile of old newspapers, Taiwanese fashion designer Colin Lin came up with the idea of using them to make shoes and tote bags for her environmentally friendly footwear company.

MAS offers MHinsure insurance t air travellers

Fri, 20 Nov 2009 15:39:02 +0800

KUALA LUMPUR: Malaysia Airlines (MAS) is making it easier for air travellers to buy travel insurance online by opening up MHinsure to Malaysians, Singaporeans and Australians.

Nomad Group in strategic alliance with Crown Worldwide

Fri, 20 Nov 2009 15:39:16 +0800

KUALA LUMPUR: The Nomad Group, a company providing innovative working and living spaces, has recently entered into a strategic alliance with Crown Worldwide Movers.

Saamchem to invest US$2.2mil in new Indonesian subsidiary

Fri, 20 Nov 2009 15:39:41 +0800

KUALA LUMPUR: Samchem Holdings Bhd, a leading industrial chemical distributor in the region, plans to invest US$2.2 million in its new subsidiary in Jakarta.

PNB announces 5.5 sen per unit income distribution for ASN3

Fri, 20 Nov 2009 14:40:14 +0800

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) announced today a 5.5 sen per unit income distribution for the Amanah Saham Nasional 3 (ASN 3) for the financial year ended Nov 30, 2009.

Information and Communications Technology to power Perak's growth

Fri, 20 Nov 2009 14:35:21 +0800

HANOI: Perak state government-appointed ICT facilitator, KPerak Implementation and Coordination (INC) Corporation aims to transform the state into a knowledge economy by 2015, with Information and Communications Technology (ICT) as major contributor to economic growth.

Warren Buffett's Berkshire gets US$8bil to buy railway

Fri, 20 Nov 2009 12:33:43 +0800

OMAHA, Nebraska: Warren Buffett's company has lined up an US$8 billion loan to help pay for its $26.3 billion acquisition of railroad Burlington Northern Santa Fe Corp.

Japan's central bank Friday kept interest rate unchanged(update)

Fri, 20 Nov 2009 12:50:59 +0800

TOKYO: Japan's central bank has kept its key interest rate unchanged at 0.1 percent.

Asian markets continue downward spiral

Fri, 20 Nov 2009 14:13:42 +0800

Asian markets continued their downward spiral for a fourth day as lower earnings from Sony Corp and Dell Inc reveal that the economic recovery may be slower than expected.

Donald Trump gets into selling Vitamins

Fri, 20 Nov 2009 08:05:34 +0800

MIAMI: Donald Trump is putting his name on a vitamin and health products business whose salespeople make money by recruiting more salespeople.

Dell profit falls 54%, shares down

Fri, 20 Nov 2009 07:52:48 +0800

SAN FRANCISCO: Dell Inc. said Thursday that its net income dropped 54 percent in the latest quarter and amid signs the company isn't fully benefiting from the computer industry's fledgling recovery.

Oprah Winfrey show to end; New show coming up?(2ndupdate)

Fri, 20 Nov 2009 13:23:33 +0800

CHICAGO: "The Oprah Winfrey Show," an iconic broadcast that began as a local Chicago talk show and grew over two decades into the foundation of a media empire worth billions, will end its run in 2011 after 25 seasons on the air, Winfrey's production company said Thursday night.

Oil hovers below US$78 in Asia Fri

Fri, 20 Nov 2009 14:21:23 +0800

SINGAPORE: Oil prices hovered below $78 a barrel Friday in Asia as investors eyed a volatile U.S. dollar and mixed economic data.

Stronger US$, weak economic recovery signs pummel US stocks

Fri, 20 Nov 2009 07:39:28 +0800

NEW YORK: Signs of a subdued U.S. economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.

New Exora model at only RM57,548

Fri, 20 Nov 2009 08:13:08 +0800

PETALING JAYA: The Exora Basic model, to be launched tomorrow, is expected to contribute 5% of the total Exora sales volume by the financial year ending March 30, 2010, said Proton Holdings Bhd managing director Datuk Syed Zainal Abidin Syed Mohamad Tahir.

All eyes on AirAsia and MAS results as others turn in losses

Fri, 20 Nov 2009 06:53:43 +0800

PETALING JAYA: Several regional airlines have incurred huge losses in the third quarter of this year although demand for passenger air travel is trickling in, and it will be interesting to see what financial numbers the local carriers will report this week and next.

Airport rivalry heats up, cash perks for airlines

Fri, 20 Nov 2009 07:28:04 +0800

AIRPORT management business has never been so competitive. Over the last decade, airports are forced to knock on airline doors to lure them to fly into their airports. This is a major shift in the way airports market themselves globally.

FMM: Worst is over for Malaysian exports

Fri, 20 Nov 2009 08:29:04 +0800

PETALING JAYA: There are signs of recovery in the country’s exports with regional trade picking up the slack from traditional export markets, said Federation of Malaysian Manufacturers president Tan Sri Mustafa Mansur.

Germany’s Phoenix Solar plans office in Malaysia

Fri, 20 Nov 2009 07:25:05 +0800

SINGAPORE: Phoenix Solar AG, one of Europe’s largest solar power developers, is in talks to partner with a Chinese firm to push its business in China, said a company executive.

Local universities, research culture and start-up activities still weak

Fri, 20 Nov 2009 08:31:56 +0800

PUTRAJAYA: Malaysia lacks innovation hotspots to propel the development of homegrown technology, says World Bank expert on development issues Dr Shahid Yusof.

Astro unit gets US$35m loan

Fri, 20 Nov 2009 07:04:49 +0800

KUALA LUMPUR: Astro All Asia Network PLC’s wholly-owned subsidiary Astro Global Ventures (L) Ltd has secured a US$35mil term loan facility from DBS Bank Ltd.

Dialog banks on core segments

Fri, 20 Nov 2009 08:26:47 +0800

PETALING JAYA: Dialog Group Bhd, which provides support services to the petroleum and petrochemical industry, will continue to focus on growing its recurring business in the plant-maintenance and catalyst-handling services segments.

M3nergy looking to expand into Indonesia

Fri, 20 Nov 2009 07:16:30 +0800

KUALA LUMPUR: Oil and gas field services provider M3nergy Bhd is looking to participate in Indonesian tenders to expand its floating, production, storage and off-loading (FPSO) business.

Maxis offers long-term gain

Fri, 20 Nov 2009 08:44:32 +0800

PETALING JAYA: While retail investors in Maxis Bhd are already enjoying a 14% capital gain after the first trading day, those taking a long-term position will have more to look forward to come 2011.

Work cut out for Maxis

Fri, 20 Nov 2009 08:45:04 +0800

As the hype over Maxis Bhd’s IPO settles (it should after its debut yesterday), the real work begins. In an interview with StarBiz’s ANITA GABRIEL and RISEN JAYASEELAN, Maxis Bhd CEO Sandip Das talks about why Maxis is not just a yield play, and how it plans to fend off intense competition, keep a lid on slipping ARPUs and hold on to its market leader spot.

Maxis opens first-day trade with 9% premium

Fri, 20 Nov 2009 08:46:35 +0800

KUALA LUMPUR: Maxis Bhd flexed its muscle in its debut on Bursa Malaysia yesterday as the stock dominated trading activity while fetching a premium most people expected.

DSC hopes to raise RM6m from listing

Fri, 20 Nov 2009 07:11:07 +0800

KUALA LUMPUR: DSC Solutions Bhd, which provides automatic identification and data capture solutions, hopes to net RM6.29mil from its listing on the ACE Market of Bursa Malaysia.

Demand holds up for Asian IPOs

Fri, 20 Nov 2009 07:23:16 +0800

HONG KONG: Two big initial public offerings in Asia made double-digit gains yesterday, while a third IPO raised US$3.9bil, showing demand holding up strongly in the face of a flood of new issues.

YTL net profit lower

Fri, 20 Nov 2009 08:52:07 +0800

KUALA LUMPUR: YTL Corp Bhd’s net profit fell 17.8% to RM207.5mil for the first quarter ended Sept 30 on a 126% growth in revenue to RM3.93bil against RM1.74bil in the previous corresponding period.

BAT hit by challenging landscapes

Fri, 20 Nov 2009 07:13:05 +0800

PETALING JAYA: British American Tobacco (M) Bhd (BAT) posted a lower net profit of RM166.7mil in its third quarter ended Sept 30, down 28.2% from the previous corresponding period, due to challenging operating landscapes, compounded by high levels of illicit trade and the economic crisis affecting consumers’ spending power.

Sony targets 5% operating profit margin

Fri, 20 Nov 2009 08:36:51 +0800

TOKYO: Sony Corp aims to earn a 5% operating profit margin in three years by turning its struggling LCD TV and game operations profitable next year and launching 3D TVs and lithium-ion batteries for electric vehicles.

Earnings in brief

Fri, 20 Nov 2009 12:44:02 +0800

KUALA LUMPUR: Results from: Lafarge, Esso Malaysia, Ta Ann and Putrajaya Perdana

Axis REIT plans to buy seven warehouses for RM96mil cash

Fri, 20 Nov 2009 07:20:05 +0800

PETALING JAYA: Axis REIT Managers Bhd (ARMB) has proposed to buy seven warehouses in Klang and Seberang Prai for RM96mil from IDS Logistics Services (M) Sdn Bhd.

Brisk sales for HSL’s first gated residential area

Fri, 20 Nov 2009 07:20:52 +0800

KUCHING: Hock Seng Lee Bhd (HSL) has sold some 70% of high-end houses within a week of the launch of its first guarded-and-gated residential estate near Kuching International Airport.

Room to improve safety, standards of vehicle

Fri, 20 Nov 2009 07:17:05 +0800

KUALA LUMPUR: Glass’s Information Services Pty Ltd, a leading provider of data, solutions and business intelligence services for the Australian automotive community, believes that safety and standards of vehicles in Malaysia still have room for improvement.

Latest investment plan from Maybank

Fri, 20 Nov 2009 07:17:41 +0800

PETALING JAYA: Malayan Banking Bhd’s (Maybank) 1Malaysia Momentum (M3) Structured Deposit, a capital-protected investment plan for investors seeking potential gain regardless of the market conditions, targets a fund size of RM100mil.

Norzila is Bank Negara assistant governor

Fri, 20 Nov 2009 07:12:02 +0800

KUALA LUMPUR: Bank Negara has appointed Norzila Abdul Aziz assistant governor from Nov 1.

S. Korea tightens control over forex liquidity

Fri, 20 Nov 2009 07:24:17 +0800

SEOUL: South Korea announced yesterday measures aimed at tightening control over foreign exchange liquidity to make the banking system less vulnerable to the capital flight seen during the financial crisis.

Heidi Klum wows crowd at Victoria's Secret show

Fri, 20 Nov 2009 15:57:08 +0800

NEW YORK: Heidi Klum and her post-baby body led the parade at the annual Victoria's Secret fashion show, which returned to New York with some fresh faces after four years on the road.

S.Korean minister nixes new US trade negotiations

Fri, 20 Nov 2009 15:57:19 +0800

SEOUL: South Korea's foreign minister ruled out Friday additional negotiations with the United States over a free trade agreement, a day after presidents of the two countries vowed cooperation to push the stalled deal forward.

China raises nonresidential electricity rates

Fri, 20 Nov 2009 15:57:30 +0800

SHANGHAI: China raised electricity rates for businesses and industries Friday, part of a long-term effort to adjust prices to reflect costs and promote energy saving as the country struggles to meet soaring demand.

Oil giant donates $1M to catalog Stevens papers

Fri, 20 Nov 2009 15:57:41 +0800

ANCHORAGE, Alaska (AP) - Oil giant BP PLC has donated $1 million to the University of Alaska Fairbanks toward cataloging and processes papers from the congressional career of former U.S. Sen. Ted Stevens.