The Star Online: Business

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Cathay Pacific to increase fleet size

Cathay Pacific Airways has plans to increase its fleet size to over 220 aircrafts in the next eight years for fuel-efficiency and gradual replacement of the old Boeing 747 planes.

EITA to raise RM17.5mil from IPO

EITA Resources Bhd enroute to a listing on the Main Market of Bursa Malaysia in early April, expects to raise RM17.5mil in proceeds, in a bid to to set up a new elevator manufacturing facility.

Government to invest over RM800mil in flood mitigation projects

The Malaysian Government, via the Department of Irrigation and Drainage, will be spending RM880mil in flood mitigation projects throughout the country.

Bank Rakyat announces highest ever net profit

Bank Rakyat Bhd posted the highest ever net profit of RM2 billion for 2011, an increase of 49.5% over 2010.

FBM KLCI sees red at closing

The FBM KLCI dipped 2.85 points or 0.18%, closing at 1,588.06 at 5pm today.

The Star Online still Malaysia’s most popular news portal

PETALING JAYA: When Malaysians go on the Internet for news, The Star Online (thestar.com.my) is still the top destination, according to the latest data released by the Malaysian Digital Association (MDA).

Perodua still open to tie-up with Proton

KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is still open to collaboration talks with DRB-HICOM Bhd, which is the new owner of national carmaker Proton Holdings Bhd, managing director Datuk Aminar Rashid Salleh said.

Banks’ estimates on loan growth differ from consensus

PETALING JAYA: There is a gap between management guidance and consensus for loan growth – the challenge for banks is to ensure that their loan growth targets for this year are met.

EP Manufacturing's highway buy may pay later

EP Manufacturing Bhd (EPMB) may have taken the highway to depressing its valuation but the Maju Expressway Sdn Bhd (MESB) buyout could prove a worthy deal in the next five years.

Burse likely to trend higher this week

The FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to trend moderately higher this week despite global weakness on negative manufacturing data from China, France and Germany.

Leveraging on an iconic brand - Sunrise and UEM Land

The merger of Sunrise Bhd with UEM Land Holdings Bhd early last year is set to provide a much-needed boost to the enlarged UEM Land group. StarBiz’s ANGIE NG recently caught up with UEM Land MD and CEO Datuk Wan Abdullah Wan Ibrahim on the group’s plans, going forward.

Auto players adopt a ‘wait-and-see’ approach about impact of new lending guidelines

PETALING JAYA: Automotive industry players and observers are still maintaining a “wait-and-see” approach about the impact of Bank Negara’s responsible lending guidelines on total industry volume (TIV) for this year.

S. Korea-Malaysia ties move beyond bilateral to global cooperation

SINCE my assignment to Malaysia as ambassador in 2010, which was also the year that marked the 50th anniversary of the establishment of bilateral relations between South Korea and Malaysia, there has been significant progress in the relations from high-level visits to increased trade and investment.

Economy

Minister: Economic growth stays strong

TASEK GELUGOR: Malaysia’s economic growth remains strong and is at a comfortable level when compared with that of the global economy, says Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop.

Stocks

Bonus/Rights Issues

Naim set for a comeback

WE met up with Naim’s management recently and understand that the group is poised to stage a comeback after its poor earnings performance in FY11.

US stocks could go up this week due to last minute shopping

NEW YORK: Portfolio managers will be doing some last-minute shopping for winners from the big stock market rally as they take part this week in the quarter-end ritual of window dressing.

London investors watching growth estimates this week

AN official estimate of British growth in the fourth quarter of last year and a clutch of trading updates from blue-chip companies are on the agenda for London’s stock market investors next week.

Tokyo stocks may stage rally this week

TOKYO: SHARES may stage a rally in the coming week if positive economic data boosts sentiment after they were depressed in the past few sessions by worries over a global slowdown, analysts said Friday.

Italian bank’s top investor sells down stake

MILAN: The top investor in Banca Monte dei Paschi di Siena said it had sold an 8.2% stake in Italy’s No. 3 bank, raising around 339 million euros (US$449.61mil) and boosting chances of keeping creditors at bay.

Commodities

CPO prices may retreat on profit-taking

KUALA LUMPUR: THE crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives, which closed on a high note last week, may see a retreat this week, dealers said.

Rubber market expected to be quiet this week

KUALA LUMPUR: THE Malaysian rubber market is expected to see quiet trading this week as players are likely to adopt a wait-and-see attitude as they wait for more fresh leads, dealers said.

KLTM seen to continue downtrend this week

KUALA LUMPUR: THE Kuala Lumpur Tin Market (KLTM) is expected to continue its downtrend this week amid uncertainty in the global market, a dealer said.

US seeks more interest in Alaska

WASHINGTON: The Obama administration on Saturday said it would again gauge interest from the oil and gas industry to explore federal waters off the Alaska coast, another bid to expand domestic energy production as gas prices soar and political pressure grows.

Venezuela to pay US$420mil to Williams and Exterran

GUIRIA, VENEZUELA: Venezuela will pay Williams Cos Inc and Exterran US$420mil for the 2009 nationalisation of assets including a major gas injection project, the South American country’s oil minister said on Friday.

Foreign News

Geithner: US World Bank pick to win broad support

WASHINGTON: Jim Yong Kim, the US nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies, US Treasury Secretary Timothy Geithner said in an interview.

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