Ensuring sustainability

THE StarBizWeek convened a roundtable discussion to gauge the impact of the global crisis on Malaysia, best and worst-case scenarios, and how the country can mitigate the effects of a protracted downturn while keeping an eye on addressing several structural shortfalls to ensure long-term sustainability.

Budgeting for crisis

THE amount of money being spent to resuscitate waning global economies is mind boggling. Hundreds of billions of dollars are being forced-fed to banks to recapitalise them and get them to lend again.

The first package: It’s size, implementation and transparency issues

What the second stimulus should be

Managing expectations

GAB earnings up 29% in Q2

DESPITE the challenging market conditions, Guinness Anchor Bhd (GAB) posted a net profit of RM34.68mil for the second quarter ended Dec 31, a surge of 29% from RM26.87mil in the previous corresponding period.

Economic growth slows down to 4.6% in 2008

The country’s economy grew 4.6% in 2008 compared with 6.3% in 2007 as domestic demand continued to provide support to growth, driven mainly by private consumption and public spending, the central bank says.

Maybank to make 9-for-20 rights issue

MALAYAN Banking Bhd (Maybank) yesterday announced a 9-for-20 rights issue of up to RM6bil which it says would help the bank grow its business organically.

Exceptional item drags down AirAsia Q4 results

NO-FRILLS airline AirAsia Bhd reported a net loss of RM176.9mil for the fourth quarter ended Dec 31 compared with a profit of RM245.7mil in the previous corresponding period due to an exceptional item of RM426mil related to the unwinding of its derivative structures.

Maybank net profit for Q2 flattish

MALAYAN Banking Bhd’s (Maybank) net profit for the second quarter to Dec 31 was flattish at RM734.6mil against RM731mil from a year earlier following higher loan loss provisions and overhead expenses.

MARC sees drop in corporate bond issues

CORPORATE bond issuance is expected to drop to between RM25bil and RM30bil for 2009 from last year’s total of RM48.6bil in new issues, according to Malaysian Rating Corp Bhd (MARC).

Maybulk looks to buy vessels

Malaysian Bulk Carriers Bhd (Maybulk) is looking at acquiring new vessels this year as the collapse of the dry bulk market has provided some bargains, says executive chairman Teo Joo Kim.

Proton posts Q3 loss on low sales, forex rates

LOWER sales volume and higher foreign currency exchange rates took a heavy toll on Proton Holdings Bhd’s third-quarter results as the national carmaker posted a net loss of RM74.6mil compared with a net profit of RM10.3mil a year ago.

Celcom expects to maintain growth

CELCOM (M) Bhd, which posted its strongest three months in the last quarter ended Dec 31, expects to continue with the growth momentum this year, says chief executive officer Datuk Seri Shazalli Ramly.

MAS in tie-up with Pakistan firm for MRO venture

MAS Aerospace Engineering, a wholly-owned unit of Malaysia Airlines (MAS), has set up a 50:50 joint venture (JV) with GMR Hyderabad International Airport Ltd to form an airframe maintenance, repair and overhaul (MRO) company in Hyderabad.

Abbott sees rising demand for nutritional products

ASIA remains an important market for Abbott Nutrition, accounting for over 50% of its international sales outside the United States.

An art form for tea lovers

PURPLE Cane is no stranger to Chinese tea lovers. In fact, its very name is synonymous with tea and refined tea-brewing skills such as the so-called Kung Fu tea ceremony.

Dell: No plans to close ops in Penang

DELL has no plans to close its manufacturing facilities in Penang.

Kingoya sees RM2bil income harvest in next 10 years

KINGOYA Corp, which deals in harvesting equipment, gadgets and safety gear, is making headway in the plantation in-field collection business.

MPH adaptable to economic downturn

MPH Bookstores Sdn Bhd remains cautious on the general outlook for the book industry this year although its sales are stable at the moment.

A host of specialities

ALTHOUGH TMC Life Sciences Bhd’s newly opened Tropicana Medical Centre is not bustling with activity at the moment, managing director Datuk Dr Colin Lee is confident that it is only a matter of time before people start to throng in.

Celcom’s about-turn success

THE timeless principle of “sowing and reaping” has proven its effectiveness on mobile services provider Celcom (Malaysia) Bhd.

Bonds provide capital preservation and stable income stream

Bonds may lack the glamour of equities, but the high probability of a bond investment in preserving the investor’s capital and in generating a predictable stream of income is appealing to many, especially in the current volatile bear market.

Danger of deflation

Falling prices are music to the ears of consumers. Just as the global economy remains in a free-fall trend, prices of commodities have also fallen from their peaks since the third quarter of last year.

Soaring cost of living in the Klang Valley

THESE are troubled times. And it’s not made easier by the cost of living. It’s especially stressful if one is single and living alone in the Klang Valley.

The worst is yet to come? It’s time to fight back ... together

Comment by TAY HAN CHONG.

Healthcare products remain resilient

Despite the economic downturn, demand for healthcare products offered by direct-selling companies remain positive due to the growing health awareness, say industry players.

Samsung kick-starts football reality show

FOR Samsung Malaysia Electronics Sdn Bhd, there is great potential in being associated with the lucrative world of sports. Corporate marketing director Bryan Lee believes it is a great avenue for leveraging a brand and creating heightened brand awareness.

Adhering to the content code

Not everyone will be happy with the Government’s recent move to make it mandatory for content application service provider (CASP) licensees – from telcos to broadcasters – to comply with the Communications and Multimedia Content Forum’s (CMCF) content code.

Traditional media remain popular

DESPITE the immense hype about new media and their ability to trigger product interest among consumers, traditional mass media such as TV and print still triumph when it comes to eliciting purchase desire across most product categories, according to the latest study by Omnicom Media Group (OMG).

Tears in seams of Italian haute couture segment

EVERYONE in Italy’s clothing industry is begging for state aid, but some of the loudest cries for help are coming from the exclusive haute couture segment known more for sequined extravagance than humble pleas.

US govt, Citi reach equity conversion deal

THE US government and Citigroup have reached a deal to convert up to US$25bil in government-held preferred shares in the bank to common equity, a source said early yesterday.

Dell sees 2009 contraction in Asia

DELL Inc expects its Asia revenue to fall this year, amid heated competition and the global slowdown, but it still expects to pick up share in the PC markets in China and India, a top executive says.

A long and tedious road ahead

IT’S the results season again and the numbers rolled out by property companies are rather disappointing and point to poor take-up and an overall gloomy backdrop for developers.

Technology leading the trend in office space

ADRIAN Symons, director of M Moser Associates Sdn Bhd, a creator and designer of office space, has his desk by the window. It is a space he shares with 10-odd staff, with desks next to each other. There is no room for confidential chats on the phone line.

Brisk auctioning since downturn

Licensed auctioneer and auction firm Ng Chan Mau & Co Sdn Bhd general manager Foong Chon Wai’s schedule has been pretty tight since the beginning of the year and he is expecting to be even busier in the coming months.

Brokers' Call

By CECILIA KOK.

A tug-of-war battle continues

Trend Analysis By K.M. LEE.

Banks turn to bancassurance

The worsening economy is seeing banks expanding their bancassurance business and enjoying good revenue stream with rising demand for medical, health and retirement-related schemes.

CIMB Bank targets 18% growth in retail deposits

CIMB Bank Bhd aims to achieve a growth of 18%, or RM6.5bil, for its retail deposits this year, supported by campaigns and product offerings.

Islamic finance still fares better than conventional system

ISLAMIC financial markets are not as badly affected by the global financial crisis as their conventional counterpart due to its unique structure, says MAA Takaful Bhd director Dr Zaha Rina Zahari.

Your 10 Questions: Datuk Amrin Awaluddin

From corporate finance to turning around companies and now, the boss of a TV station (TV3), you can say Datuk Amrin Awaluddin has seen and done plenty. He takes time to “work the answers” to readers’ questions during his car journey to Kuala Pilah, Negri Sembilan to meet with viewers.

Having an eye for country living

Insight into Country Heights founder Tan Sri Lee Kim Yew’s success and philosophy.

The paradox of thrift

The year 2008 was a disaster for savers. We are taught from young that we should always save. Indeed, it’s a virtue. Stock markets the world over have since plummeted, with the value of investments having fallen by about 50%.

Keeping the golden geese alive

It’s high time we learnt to better coordinate economic policy-making to face serious challenges already upon us.

Making concessions

Negotiations for water assets should have been led by federal government from the start.