The Star Online: Business

Judge vacates US$1.26bil ruling against PepsiCo

Sat, 7 Nov 2009 09:35:30 +0800

MILWAUKEE: A judge has tossed out a decision - for now at least - that could have cost PepsiCo Inc. US$1.26 billion after the soft drink maker didn't respond to a lawsuit claiming it stole the idea for bottled water.

Freddie Mac loses US$6.3bil in 3Q

Sat, 7 Nov 2009 09:32:38 +0800

WASHINGTON: Freddie Mac's losses narrowed to US$6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.

Warren Buffett's company 3Q profit triples to US$3.2bil

Sat, 7 Nov 2009 09:27:43 +0800

OMAHA, Nebraska: Warren Buffett's company said Friday that its third-quarter profit tripled as the improving economy and stock market boosted the value of Berkshire Hathaway Inc.'s derivative contracts.

What economic recovery? US unemployment shoots past 10%

Sat, 7 Nov 2009 09:23:55 +0800

WASHINGTON: Just when it was beginning to look a little better, the U.S. economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought.

Oil prices down after US unemployment report

Sat, 7 Nov 2009 09:17:41 +0800

NEW YORK: Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.

US stocks post modest gains as job losses slow

Sat, 7 Nov 2009 09:14:18 +0800

NEW YORK: Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.

Fernandez is eager to put Malaysia on the world sports map

Sat, 7 Nov 2009 10:50:14 +0800

Will Tony Fernandes be able to do for Malaysian/Asian sports what he has done for the low cost airline business? It’s a long shot, but in sports speak, if he does, he’d have hit a branding homer.

All fired up

Sat, 7 Nov 2009 11:29:21 +0800

There’s nothing like a new goal to get AirAsia’s boss Datuk Seri Tony Fernandes all fired up. His latest project – to do for Malaysian sports what he’s done for the region’s low cost airline business. Yes, you can call it Fernandes’ second revolution. But this one could prove to be a lot tougher. You think? He talks at length about his new and old passion in a lengthy interview with the StarBizWeek’s ANITA GABRIEL, CECILIA KOK and LEONG HUNG YEE

Race to history The right formula to succeed

Sat, 7 Nov 2009 11:44:50 +0800

IT’S sink or swim,” laughs Riad Asmat, newly appointed CEO of 1Malaysia Racing Team. There’s truth in jest. Riad is referring to his new task of heading Malaysia’s “dream” team for Formula One race, a plan that was hatched in a matter of three months which, since it was revealed, has hogged much of the Malaysian chat space.

Right in tune Group has wide-ranging businesses

Sat, 7 Nov 2009 11:50:12 +0800

THE Tune group of companies, with its panoply of businesses (and growing, no doubt) has literally painted the town red.

Lofsa will ensure businesses comply with regulations

Sat, 7 Nov 2009 08:04:03 +0800

KUALA LUMPUR: The Labuan Offshore Financial Services Authority (Lofsa) says it will ensure that financial businesses in Labuan continue to comply fully with international regulatory requirements.

Vital for banks to manage liquidity risk

Sat, 7 Nov 2009 08:04:03 +0800

PETALING JAYA: Banks risk failure when they are not able to maintain sufficient liquidity even though they may have good asset quality, strong earnings and adequate capital, according to SAS Malaysia.

More robust loans growth seen

Sat, 7 Nov 2009 08:04:03 +0800

PETALING JAYA: Loans growth is envisaged to improve next year in line with the overall economic recovery, say industry players.

Kinsteel profit down on lower steel prices

Sat, 7 Nov 2009 08:04:03 +0800

PETALING JAYA: Kinsteel Bhd posted a net profit of RM19.8mil in the third quarter ended Sept 30, which was only a third of RM58mil it made in the previous corresponding period.

Widetech unit in gaming club deal

Sat, 7 Nov 2009 08:04:03 +0800

PETALING JAYA: Widetech (M) Bhd’s 75%-owned subsidiary Lao-Malaysia Investments Group (LMIG) has agreed with Savan Vegas Hotel and Casino Co Ltd to jointly operate a gaming club at LMIG’s Riveria Hotel in Laos.

AMMB set to exceed FY10 profit forecast

Sat, 7 Nov 2009 08:04:03 +0800

PETALING JAYA: AMMB Holdings Bhd is poised to exceed its own profit forecast for the financial year ending March 31, 2010 (FY10), buoyed by a strong performance in the first six months, the country’s fifth biggest banking group said.

Government to meet industry captains on 10MP

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: A special briefing on the 10th Malaysia Plan (10MP), which is now being formulated by the Government, will seek views and suggestions from representatives of the private sector.

Bank Negara reserves at RM335b

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: Bank Negara’s international reserves increased to RM334.6bil (US$96bil) as at Oct 30, from RM334.2bil (US$95.9bil) as at Oct 15.

Sime Darby forms unit in China

Sat, 7 Nov 2009 08:04:04 +0800

PETALING JAYA: Sime Darby Bhd has established a new subsidiary in China called Sime Darby (China) Enterprise Management Company Ltd with registered capital of US$10mil.

Green Packet, Redtone respond to UMA query

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: Green Packet Bhd and Redtone International Bhd said yesterday, in separate replies to unusual market activities (UMA) query by Bursa Malaysia, that they were not aware of any reason contributing to the UMA in their counters.

P1 to set aside up to RM300mil for capex

Sat, 7 Nov 2009 08:04:04 +0800

PETALING JAYA: Packet One Networks (Malaysia) Sdn Bhd (P1) plans to allocate RM200mil to RM300mil for capital expenditure (capex) next year to expand its coverage, which will include Sabah and Sarawak, chief executive officer Michael Lai said.

US dollar to continue to weaken in medium term

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: The US dollar will continue to weaken in the medium term as the risk appetite of investors increase with global economies on the mend, said OCBC Bank (M) Bhd head of global treasury Gan Kok Kim.

RM50mil sales expected at expo

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: The Eighth Malaysia International Trade & Consumer Fair, better known as Expo Cintai Malaysia 2009 (ECM), is expected to generate total sales of about RM50mil.

Fibon to set up plants in Australia and Britain

Sat, 7 Nov 2009 08:04:04 +0800

KLUANG: Electrical insulator manufacturer Fibon Bhd will set up a fabrication plant in Sydney, Australia by year-end and another one in Staffordshire, England in the first quarter of 2010, said managing director Eddie Pang Fok Seng.

Your 10 Questions

Sat, 7 Nov 2009 11:30:00 +0800

Selangor Dredging Bhd MD Teh Lip Kim fields the 10 questions posed to her by our readers.

Up Close and Personal

Sat, 7 Nov 2009 11:30:27 +0800

The founder and president of Italy’s largest footwear brand, Geox SpA, shares about his true calling – designing and marketing shoes.

The first step to moving towards higher income is to let the currency rise

Sat, 7 Nov 2009 10:10:12 +0800

P. Gunasegaram points out that the first step for Malaysia to move towards higher income is to let the currency rise.

From tragedy togovernance of the commons

Sat, 7 Nov 2009 08:04:04 +0800

Andrew Sheng touches on the tragedy of the commons and its solutions.

NGO vs CPO

Sat, 7 Nov 2009 08:04:04 +0800

Errol Oh writes on the NGOs’ campaign against palm oil which is expected to come to a climax soon.

Location, location, location

Sat, 7 Nov 2009 08:04:04 +0800

Tay Han Chong talks about how location can affect property purchase.

Damansara Realty to transfer listing status to unit

Sat, 7 Nov 2009 08:04:04 +0800

PETALING JAYA: Damansara Realty Bhd (D Bhd) has proposed to implement a restructuring exercise that will eventually lead to the transfer of its listing status to subsidiary Insan Kualiti Sdn Bhd (IKSB).

St Mary Residences to set new benchmark in Jalan Raja Chulan

Sat, 7 Nov 2009 11:57:37 +0800

ANIL, 45, from India works in the oil and gas industry. Managing projects on a piecemeal basis, his work entails quite a bit of travelling. Anil flies into Malaysia several times a year, sometimes it is a week, sometimes two.

CP Group shuns listing

Sat, 7 Nov 2009 11:58:35 +0800

EVEN though the CP Group has made big strides as a property developer and asset owner, it is not keen to join the other big property players to seek a listing on the local bourse or build up its landbank.

A double whammy

Sat, 7 Nov 2009 08:04:04 +0800

Angie Ng feels the proposed reimposition of real property gains tax and the possibility of higher mortgage rates may spell the end of the short “honeymoon” period for property buyers.

RHB aims to double revenue from Islamic banking ops

Sat, 7 Nov 2009 11:32:11 +0800

KOTA KINABALU: RHB Banking group is targeting to double the revenue from its Islamic banking operations over the next few years from the current 10%.

Seven banks expected to rake in RM318mil in fees for maxis listing

Sat, 7 Nov 2009 12:02:22 +0800

PETALING JAYA: From the lawyers to the industry experts to the public relations firms and not forgetting the investment bankers, Maxis Bhd’s listing is a boon for the lucky ones selected to participate.

Q4 test for US economy

Sat, 7 Nov 2009 08:04:04 +0800

THERE is no sugarcoating, no boasting, by US President Barack Obama when it comes to addressing the true state of his country’s economic recovery.

EconBriefs

Sat, 7 Nov 2009 08:04:04 +0800

Proton chairman offers to take Transocean private

Sat, 7 Nov 2009 08:04:04 +0800

PETALING JAYA: Proton Holdings Bhd chairman Datuk Mohd Nadzmi Mohd Salleh, via Kumpulan Kenderaan Malaysia Bhd, has offered to take logistics group Transocean Holdings Bhd private after triggering a mandatory general offer (MGO) following a 28.29% stake acquisition in the company.

SMEs urged to expand into non-traditional markets

Sat, 7 Nov 2009 11:43:27 +0800

SMALL and medium enterprises (SMEs), which make up 99.2% of the businesses in Malaysia, are urged to increase their penetration into the non-traditional markets such as Brazil, Russia, the Middle East, China and India to improve their performance.

Understanding capital terms

Sat, 7 Nov 2009 08:04:04 +0800

There is always an element of risk where investing is concerned. It is just a matter of whether people take the time to read the fine print and understand the risks they are exposed to when they invest.

Motor policies will incorporate reference point

Sat, 7 Nov 2009 08:04:04 +0800

PETALING JAYA: Most major motor insurance and takaful companies have agreed to incorporate a reference point to determine the market value of vehicles into their motor insurance policies.

IT experts to share views on enhancing the role of MSC Malaysia

Sat, 7 Nov 2009 08:04:04 +0800

KUALA LUMPUR: When the who’s who of the information technology (IT) industry convene for two days at the Putrajaya International Convention Centre from Monday, they will provide views on enhancing the role of MSC Malaysia to accelerate the country’s transformation into knowledge-based, innovation-led economy.

Lityan’s quick turn after Lembaga Tabung Haji steps in

Sat, 7 Nov 2009 12:03:25 +0800

WHAT is it with the burst of market activity whenever Lembaga Tabung Haji (LTH) invests in a significant way in a listed company?

Accomplishing trade ties at a blistering pace

Sat, 7 Nov 2009 08:04:04 +0800

INDIAN High Commissioner Ashok K. Kantha is all set for a grand send-off on Monday, having ticked a full “checklist” on the bilateral agenda.

Lessons from global crisis

Sat, 7 Nov 2009 11:34:22 +0800

International Organisation of Securities Commissions says systemic risks can emerge from unlikely sources.

Aggressive campaigning for a better market share

Sat, 7 Nov 2009 08:04:04 +0800

COMPANIES that are aggressive in market segmentation can gain a better share in their respective markets.

Addressing consumer needs

Sat, 7 Nov 2009 11:53:12 +0800

MARKET segmentation or segmentation marketing is important in today’s business world, as it helps in addressing the needs of consumers from different segments.

Adopting an effective weapon

Sat, 7 Nov 2009 11:54:25 +0800

WHAT has direct marketing to do with the Trojan War?

Leo Burnett banks on shopper marketing

Sat, 7 Nov 2009 08:04:04 +0800

MULTINATIONAL ad agency Leo Burnett Malaysia, which was named Agency of the Year at the 2009 Kancil Awards last week, is banking on shopper and retailer marketing to put it on a stronger footing in the challenging advertising landscape.

The Yasmin factor

Sat, 7 Nov 2009 11:54:02 +0800

Hafidz Mahpar says Leo Burnett and the Association of Accredited Advertising Agents were the big winners at the Kancils due to the Yasmin factor.

An animator’s treasure

Sat, 7 Nov 2009 11:55:09 +0800

Review by CHOO LI-HSIAN

Book review snapshots

Sat, 7 Nov 2009 11:56:34 +0800

Review by THEAN LEE CHENG

US slaps anti-dumping tariffs on Chinese tubular goods

Sat, 7 Nov 2009 08:04:04 +0800

WASHINGTON: The US Commerce Department has imposed anti-dumping tariffs of up to 99% on imports of Chinese tubular goods in a move Beijing condemned yesterday as an “abuse of protectionism”.

News in brief

Sat, 7 Nov 2009 08:05:54 +0800

SINGAPORE: DBS Group, South-East Asia’s biggest bank, led a surge in quarterly profits among Singapore’s three listed banks, all of which beat forecasts and are better positioned than global peers for post-crisis growth.

Bulls likely to scale higher

Sat, 7 Nov 2009 12:04:06 +0800

Overnight Wall Street suffered its worst slide since July the previous Friday, pulling the Dow down a steep 249.85-point to 9,712.73 in the wake of fresh worries that the economic recovery was not robust enough to sustain a seven-month stock rally, while finance-related issues sank on concerns about Citigroup’s balance sheet.

Treasury pulse

Sat, 7 Nov 2009 08:04:04 +0800

Malaysian Bond Market