Malaysia - Countries of the World

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Sime Darby opens new unit in China
Published: 2012/06/14
http://www.btimes.com.my/Current_New...cle/index_html

Sime Darby Bhd, Malaysia's biggest conglomerate, established the Chengdu Bow Yue Used Cars Centre Company Ltd in China on Monday. It received the business licence approval for the company yesterday.

Sime Darby said the RM17.02 million entire registered capital for the centre will be held by B.M.W. Concessionaires (H.K.) Ltd, an indirect wholly-owned subsidiary of Sime Darby.

The centre's core activities are display and sale of used cars and consultancy services for motor vehicles, it said in a filing to Bursa Malaysia today.

The centre's establishment is not expected to have a material effect on the earnings or net assets of the Sime Darby Group for the financial year ending June 30, 2012, it added. -- Bernama

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UK firm opens Malaysia's first online music store
By Bilqis Bahari Published: 2012/06/16
http://www.btimes.com.my/Current_New...music/Article/



KUALA LUMPUR: Prodigium Mobile, a UK-based cloud services provider yesterday launched the first online music store in Malaysia where users can download high quality, fully licensed and digital rights management (DRM)-free music online.

The company, which invested US$10 million (RM31.7 million) to establish the online store called infogo.com, is optimistic on music sales.

Its chief executive officer Bill Duvall, however, kept mum on the details of sales target.

"I hope we will achieve the target of at least 10 per cent of smartphone users," he told Business Times after the launch yesterday.


Infogo.com offers up to 19 million songs from all over the world and it is accessible through smartphones, tablets or personal computers via its website.

"Simply register to set up an account at infogo.com and you are good to go. Every 320kbps MP3 song that you see in infogo.com is licensed, DRM-free and available for immediate purchase," said Duvall, adding that each song costs around RM3 and can be listed as many times as the customer wants on up to 10 devices.

He said every song that is bought by a customer will be automatically stored in the customer's cloud locker, a unique online storage space.

Prodigium Mobile, two months ago, signed a memorandum of understanding with Clarion Malaysia Sdn Bhd to allow Clarion car stereo owner to have access to songs provided by Prodigium Mobile.

"We think 'in-car music purchase' is a new and wonderful thing. The availability of 19 million songs to buy, download and own on the Clarion Mirage is going to be a world's first for in-vehicle infotainment," said Duvall.

Infogo.com is also launched in Singapore, Thailand, Indonesia and India and is specifically catered to markets in South East Asia.

Prodigium Mobile has licensed music content via its association with 7digital, a leading digital media provider. 7Digital operates globally, and through them, Prodigium Mobile secures music rights for all leading labels.

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Maybank taps Aussie property mart
Published: 2012/06/25
http://www.btimes.com.my/Current_New...kloan/Article/

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is expanding its "Overseas Mortgage Loan Scheme" for purchase of residential properties in Melbourne, Australia to tap into the growing demand of Malaysians investing in Australian properties.

In a statement it said the new scheme will finance completed or off plan residential properties developed in Melbourne by Malaysian and Australian developers in the form of term loan, overdraft or a combination of both.

Maybank deputy president and head of community financial services, Lim Hong Tat, said the right investment property in Melbourne offers great returns and exceptional growth potential.

The Australian market has not suffered a fall in median house prices, he said, adding that in fact it had grown by an average of 9.1 per cent per annum on average for the past 10 years.

"The global financial crisis in 2009 and 2010 saw property prices in markets such as the UK and US fall significantly. However, properties in Australia actually in-creased in value during this period." he said.

Under the scheme, financing will be in ringgit and other key features include competitive interest rate, high margin of financing of up to 75 per cent, flexible repayment and longer loan tenure of up to 30 years or 70 years of age, whichever is earlier.

Currently, Malaysians purchasing properties in Australia obtain financing in Australian dollars and are exposed to foreign currency exchange fluctuations when making monthly loan repayments.

Lim said the new mortgage will benefit Malaysians who are showing increasing interest in buying properties in Australia.

Given that Australia currently offers attractive advantages for property purchase to non-residents, he said Maybank has tied up with reputable international real estate agencies to assist customers, particularly on the country's regulations.

"We anticipate a take-up of RM300 million for this new facility within the next 12 months. It will also help the bank to achieve double-digit growth for our home financing,"said Lim.

Maybank first introduced the Overseas Mortgage Loan Scheme in ringgit in January to finance the purchase of London properties. As at May 2012, the bank approved new loans from this portfolio exceeding RM260 million.

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Australia’s first Islamic pension fund set for launch
Friday June 29, 2012
http://biz.thestar.com.my/news/story...&if_height=202

SYDNEY: Australian fund manager Crescent Wealth plans to launch the country’s first Islamic pension fund by December and allocate between 15% to 30% of it in property, its managing director said.

Talal Yassine said that Crescent Wealth hoped to build the fund to between A$4bil and A$6bil in five years.

Crescent Wealth, which was established last year, currently has less than A$5mil under management and advice but Yassine expects strong growth for his fund due to a lack of available syariah-compliant financial products in Australia.

“We see significant, pent-up demand,” he said this week.

Yassine said Crescent planned to invest in property assets on Australia’s east coast as well as in real estate investment trusts .

“Steady cashflows from property investments are attractive to a lot of investors especially in the syariah space,” he said. The fund will also allocate money to Australian and international equities and cash management products.

The fund would buy properties outright as it cannot utilise bank debt. Also, to be syariah-compliant, more than 95% of tenants in buildings owned by the fund cannot be engaged in financial services or businesses involving tobacco or alcohol.

Australia has nearly 470,000 Muslims and the average Australian has around A$80,000 in pension funds, according to Yassine.

The pension fund will initially target domestic investors but will be open to international ones. Yassine said his fund could appeal to conservative non-Muslim investors. — Reuters

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Russian republic Tatarstan invites investors from Malaysia
By CHOONG EN HAN Saturday July 21, 2012
http://biz.thestar.com.my/news/story...&if_height=202

TOUTED as among the more prosperous states in Russia, the republic of Tatarstan is opening its doors to foreign investors looking for a gateway to penetrate the Russian market with its 140 million strong population.

The Tatarstan Investment Development Agency (Tida), headed by chief executive Linar Yakupov, was in Malaysia recently to promote the ready infrastructure and business-friendly regulations in Tatarstan.

“Well, the reason we are trying to promote greater investment relationship with Malaysia is because we see a lot of common values and things that we share. We have spent a lot of time to build the basic trust and I think the number of Malaysian companies that had visited Tatarstan is reaching a critical mass where many are now aware of the opportunities in Tatarstan. This is the entering point to the Russian federation,” he says after giving a seminar on the business and investment opportunities in Tatarstan.

Jointly organised by Tida and Matrade (Malaysia External Trade Development Corp), the seminar was well attended by industry players keen to venture out of Malaysia, and are leveraging on their own expertise to venture into higher growth target markets.

Yakupov says Tatarstan, being one of the more industrialised states in Russia, and among the 10 donors to the federal budget, presents an avenue for Malaysian businesses that are keen to enter the region.

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MITI: Malaysia-China trade to exceed last year's RM172.9b
By Ng Bei Shan Published: Friday July 27, 2012 MYT 1:59:00 PM
http://biz.thestar.com.my/news/story...&if_height=202

KUALA LUMPUR: The Ministry of International Trade and Industry forecasts Malaysia-China bilateral trade for 2012 to easily exceed the US$54.5bil (RM172.9bil) recorded last year.

MITI principal assistant director for China desk, Albert Ch'ng said on Friday that bilateral trade hit US$23.6bil (RM74.87bil) in the January-May period of 2012.

The Malaysia-China Chamber of Commerce (MCCC) has teamed up with logistics provider TNT Express Worldwide (M) Sdn Bhd to organise the "Malaysia-China Entrepreneur Conference (MCEC)" as a platform to further enhance bilateral trades. The objective of the conference is to match investors from China with local partners through its business matching session.

The conference will be held on Sept 8, 2012 at Sunway Resort Hotel & Spa. It is expected to attract more than 1000 delegates from China, Malaysia, South Korea and Asean countries.

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Germany's Altona proud to call Malaysia home
By Roziana Hamsawi Published: 2012/07/25
http://www.btimes.com.my/Current_New...LTONA/Article/



MALAYSIA continues to attract multinationals in various industries to set up regional office here, with the latest being a molecular diagnostic technologies provider, Altona Diagnostics.

Altona, a German company specialising in technology and molecular diagnostic test solutions especially for infectious diseases, has recently made Malaysia its Asia Pacific regional headquarters.

Called ADT Biotech Sdn Bhd, the company aims to expand significantly in the next two years, ultimately making Kuala Lumpur its research and development centre.

Managing director Dr Finn Zedler in an interview here, recently said the company, which is currently manned by five local staff, wants to build strong ties with regional health institutions in the field of diagnostic.

"We are still new in terms of having a regional office here but we have had a presence here for some time now when we developed the SARS diagnostic kit in 2003, which significantly helped kept that pandemic in check. That was when we built our firm roots here," he said.

He added that the office may be small for now but "we want to make our revenue and then we will hire more staff. We are expanding our revenue base, regional representation and once we grow, we will need adequate resources behind us."

Zedler declined to say how much investment ADT Biotech will commit to achieve its goal but said the company's goal is to achieve a 10 per cent market share in the next three years in Asia Pacific for the molecular diagnostic test solutions market.

"In the emerging pathogens (viruses that cause diseases) market, we are the only company involved in this and we dream of a majority market share," he said.

He pointed out that while there are a number of companies in the diagnostic field, there is no company which focuses in molecular diagnostic like ADT Biotech or has an extensive portfolio.

"We have 30 different parameters for various affected diseases. Not many companies offer kits for malaria, dengue, or other tropical infected diseases," said Zedler.

He also said that there are now many emerging diseases which are not confined to the tropics anymore and are being experienced in temperate countries like the under-diagnosed Hepatitis E.

"We are the only one with kits for Hepatitis E and now working on a Hepatitis D. Scientific progresses are always there and one can find parameters increasing and we have a strong position in this area."

Zedler noted that Asia Pacific diagnostic industry was worth some US$6.4 billion (RM20.3 billion) in 2009 and of this, 20 per cent is contributed by molecular diagnostic field, which is ADT Biotech's strength.

In Malaysia, the size of the diagnostic industry was valued at about US$45 million in the same year and has been growing at above 10 per cent annually. He said within the diagnostic industry, molecular diagnostics has always been the fastest growing segment.

"This is the area we have the expertise and interested in and we believe we have a good opportunity to capture in the Asia Pacific region especially as Asians are increasing their spending on healthcare due to the higher level of wealth among them."

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Opportunities in Dominican Republic for Malaysians
Published: 2012/07/25
http://www.btimes.com.my/Current_New.../jrdr/Article/

KUALA LUMPUR: The 48 free zones in the Dominican Republic provide opportunities for Malaysian manufacturers to penetrate the US market and the Caribbean region in sectors like fine jewellery, cosmetics, medical devices, electrical and electronics as well as apparel.

Trade Commissioner of Matrade Miami, Jonathan Andrew Rao James, said most companies at the free zones are manufacturing for the US market, taking advantage of the US-Dominican Republic-Caribbean Free Trade Agreement that accords preferential tariffs.

"The free zones provide a good manufacturing platform for Malaysian companies to export under preferential benefit to the US market and other Caribbean destinations by operating in the industrial zones," said Jonathan in a statement.

The free zones have attracted more than 555 companies with export sales at over US$4 billion (RM12.7 billion) a year. The value of exports comes from medical and pharmaceutical products, apparel, electrical and electronic products, jewellery, tobacco products, and shoes.

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Originally Posted by nazrey

M'sia to build RM9bil bridge in Bangladesh
By REGINA LEE Updated: Tuesday April 10, 2012 MYT 3:10:48 PM
http://thestar.com.my/news/story.asp...&if_height=175

KUALA LUMPUR: Malaysia has inked a deal to build a RM9bil bridge in Bangladesh connecting the southwestern region to the rest of the country.

Under a Memorandum of Understanding signed on Tuesday, the Malaysian government will appoint a consortium of five contractors to complete the Padma Multipurpose Bridge.

The MoU was signed by Special Envoy to India and South Asia on Infrastructure Datuk Seri S. Samy Vellu and the Bangladesh Communication Minister Obaidul Quader and witnessed by Prime Minister Datuk Seri Najib Tun Razak.

"Construction is scheduled to commence this year and we hope to complete it in 54 months.

"Financing arrangements for the project will be carried out entirely by the Malaysian consortium," said Samy Vellu, adding "not a single sen will come from the government."

After the signing ceremony, Najib spoke on the phone with his Bangladeshi counterpart Sheikh Hasina for about five minutes.

Prime Minister Datuk Seri Najib Abdul Razak witnessing the exchange of documents between Bangladesh Communication Minister Obaidul Quadar (L) and Datuk Seri Samy Vellu during a ceremony in Kuala Lumpur, April 10, 2012. BERNAMA
http://www.thesundaily.my/news/344939

http://bdnews.com/4133

http://www.theconstructionindex.co.u...ma-bridge-loan

M'sia and Bangladesh to finalise issues on Padma Bridge
Last updated on 31 July 2012 - 03:41pm
http://www.thesundaily.my/news/451152

NEW DELHI (July 31, 2012): Malaysia and Bangladesh will hold a meeting from Aug 4-6 in Dhaka to finalise matters related to the Padma Multipurpose Bridge (PMB) project.

Special Envoy to India and South Asia, Datuk Seri S.Samy Vellu, will lead the Malaysian delegation to Dhaka.

Samy Vellu will hold talks with Bangladesh Minister of Communications, Obaidul Quader, on the project and seek a firm commitment on many key issues.

He is also scheduled to visit the PMB project site. Malaysia has almost resolved all outstanding issues on the technical and financial aspects of the project, said a source close to the deal.

"During the visit, the Malaysian side will present its final draft agreement to the Bangladesh government after getting a full commitment from Dhaka," the source added.

This comes in the wake of many conflicting media reports in Bangladesh, quoting unnamed sources and senior government officials, which has caused uneasiness in Malaysia.

"It has to be understood that both the Malaysian and Bangladeshi governments have signed a memorandum of understanding (MOU). It was witnessed by the Malaysian Prime Minister, Datuk Seri Najib Abdul Razak.

"Obviously the MOU has a timeline for implementation, and until such time, it has to be honoured. This is a government-to-government understanding," the source told Bernama.

The Malaysian and Bangladesh governments signed the MoU in April this year and the PMB project will be implemented under the Public-Private Partnership (PPP) on a Build, Operate, Own and Transfer model.

At the signing ceremony, Najib also spoke over the telephone with Bangladesh Prime Minister Sheikh Hasina about the project. Najib said the bridge, when completed, would enhance Malaysia-Bangladesh bilateral relations.

The project is to be undertaken by a Malaysian company, which will form a joint venture with a leading foreign construction entity, the source said without naming the companies concerned.

According to the source, the Malaysian proposal had been revised twice. The final proposal has been drafted to ensure a win-win situation for both countries.

"It is now up to the Bangladesh government. The Malaysian side has taken into account all aspects, including the requests of the Bangladesh government, in the final proposal.

"The proposal is expected to be submitted to the Bangladesh government in the middle of August," the source said.

The cost of the project is said to have increased from US$2.9 billion (RM9.08 billion) in 2010 to almost US$3.5 billion (RM10.96 billion) at present. This is among others, due to, the fluctuation in the Bangladesh currency - it currently hovers at US$1 to 81 Bangladesh Takas - inflationary pressure and the rising cost of construction materials.

There is also the country risk factor, which will be taken into account by financiers, when giving out loans to the concessionaire of the project.

It is understood that Najib is expected to attend the project's groundbreaking ceremony in Dhaka with Sheikh Hasina in October.

"If all goes well, the agreement between Malaysia and Bangladesh could be signed by September," the source added. – Bernama

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IJM Land in London JV property project, GDV RM1.4b
Published: Friday August 3, 2012 MYT 7:30:00 PM
http://biz.thestar.com.my/news/story...&if_height=202

KUALA LUMPUR: IJM Land Bhd is venturing into UK via a joint venture to build a five-star hotel, residential apartment, which will have a gross development value (GDV) of £280mil (RM1.4bil).

IJM Land had on Friday entered into a shareholders' agreement with Lite Bell Consolidated Sdn Bhd to form a joint venture company in Jersey -- Mintle Ltd -- to acquire a 999-year lease over a 2.7 acre site.

It said the plan was for 650,000 sq ft space situated above the National Rail and DLR railway lines adjacent to the Royal Mint Street in central London.

Mintle also acquired one share of £1 each in dormant company, RMS (England) Ltd for £1. RMS England and Mintle would undertake a mixed-use development on the property.

Network Rail Infrastructure Ltd is the freehold owner of the property and granted ZBV (RMS) Ltd an option to acquire the lease of the property.

The working capital to be funded by the company to develop the property would be between £25mil and £30mil.

"The joint venture is part of a strategic move by the group to expand its property development footprint beyond Malaysia and is in line with its long term vision of being an internationally admired property developer," it said.

IJM Land said the project, located on Royal Mint Street, London, and when completed, would have excellent views of the popular London landmarks, such as Tower of London, Tower Bridge, Royal Mint Court, St. Katharine's Docks and River Thames.

It said the project, granted detailed planning consent in April 2012, comprised of one block of 5-star hotel cum residential apartment and three blocks of residential apartments with a total gross built-up area of about 650,000 square feet.

"The gross development value of the project is expected to be around £280mil. The development cost of the project will be funded via a combination of borrowings and internally generated funds, the details of which have yet to be determined," it said.

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Amadeus eyes deals in Malaysia
By Roziana Hamsawi Published: 2012/08/06
http://www.btimes.com.my/Current_New.../amde/Article/



AMADEUS, a global travel technology provider and transaction processor for travel and tourism industry, expects its presence in Malaysia to be further strengthened, following the termination of the share swap deal between the country's two airlines.

Amadeus Asia Pacific president David Brett said despite "Malaysia giving us a rather good share of business," it has not been easy for Amadeus to tap other opportunities which it could have grabbed if not for the controversial share swap deal between Malaysia Airlines (MAS) and AirAsia.

"With the deal scrapped and things look kind of settled down, we hope we will be on track again to capture some share of the IT tourism and travel business," he said, adding that the KLIA2, scheduled to open in April next year, would definitely offer exciting opportunities for companies like Amadeus.

Amadeus has been buffing up its new airport IT division after capturing a major share of the airline IT business, and is all set to sell a suite of some 20 IT modules to major airport players, including ground handlers and airlines.

Brett said the past year despite still generating good income from the Malaysian lucrative IT travel business, has been a rough ride for Amadeus.

"But we are hoping to see more business after this," he told Asia Pacific media who visited Amadeus Executive Business Centre at Sophia Antipolis technology park here last week.

The share swap deal between MAS and AirAsia was unwound on May 1 this year, soon after both airlines signed supplemental collaboration agreements to pave way for Malaysia to become a regional maintenance hub.

The agreements will allow other areas to be explored, which may include information technology and communications.

Although Business Times recently reported that AirAsia has decided to exit this supplemental agreement, no official announcement has been made by either party.

Meanwhile, in an earlier briefing on the latest travel trends impacting Asia Pacific, Brett said the future of travel will depend on consumers being offered more choices with less complexity and consistent standards which demand the travel industry to consolidate all information.

Another trend that is gaining popularity is the outsourcing in the airline IT area by airline companies, which was not prevalent until 15 years ago.

"Having an in-house airline IT business is a burden and when Qantas and British Airways outsourced this to us in 2000, we had never thought we will become a major player in this area," said Brett.

He said now 23 carriers in Asia Pacific are Amadeus' partners in the airline IT area and Amadeus is striving to enhance what it can offer to these airlines.

"We have new developments for Asia Pacific where we can customise what we have developed in Europe for the region to give our customers in Asia as much flexibility as we can," he said.

Brett said such customisation was not possible previously, but since Amadeus has made their products modular, its clients can choose and pick the ones can serve them better.

He said Amadeus is constantly working to demystify technology for travel agents and the recent launch of Amadeus Travel Office Manager (ATOM) in seven Asia Pacific countries, including Malaysia is one such example.

Web-based ATOM is designed specifically to suit the varying requirements of travel agencies in Asia Pacific and integrates seamlessly with the Amadeus Selling Platform and helps drive higher margins.

On Amadeus' new airport IT business, he said there are a lot of opportunities to be seized in the Asia- Pacific region.

"True, airports are different and complex but we are positive over the enormous opportunities for us to work with airports because there are a lot of people who are not satisfied with their airport experiences," said Brett.

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Two M’sian firms announce property projects in London in a week
By JOHN LOH Tuesday August 7, 2012
http://biz.thestar.com.my/news/story...&if_height=202

PETALING JAYA: Within the space of only a week, two Malaysian companies have announced plans to develop property in London, underscoring the rising appeal of Europe's most iconic city as a safe haven in the current roiling global economy.

A progressively larger share of the world's capital whether from property firms or cash-rich investment funds has found its way to the global financial hub in recent times, hungry for stable returns in an otherwise anaemic, debt-strapped region.

On Wednesday, Amcorp Properties Bhd said it was entering into a joint venture (JV) to acquire a freehold office building in London's trendy Mayfair district, followed by IJM Land Bhd's Friday revelation of a mixed development on Royal Mint Street.

Analysts have favourably regarded IJM Land's latest venture, saying it diversifies the company's income stream from the current concentration in Malaysia.

To recap, IJM Land took a 51% stake in a JV with Lite Bell Consolidated Sdn Bhd for the project, which will buy a 999-year lease on a 2.7-acre site that has already obtained planning permission to be developed into 650,000 sq ft of gross floor area (GFA).

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Sudan hopes to triple trade with Malaysia in next 3 years
By Vasantha Ganesan Published: 2012/08/10
http://www.btimes.com.my/Current_New...pcmat/Article/

KUALA LUMPUR: Sudan hopes to triple trade with Malaysia in the next three years, from US$94.4 million in 2011.

Sudanese ambassador to Malaysia Nadir Yousif Eltayib said that trade between the two nations has been fluctuating over the past four years.

The increase is expected to be supported by the import of meat and beef into Malaysia.

Sudan, which is part of the bigger African continent, is looking at importing finished goods like furniture and electrical and electronics from Malaysia.

Nadir said that a Malaysia-Sudan Trade and Investment Forum will be held in Khartoum, Sudan, on November 4 and November 5 this year.

He hopes participants to the forum to come from different sectors like construction, oil and gas, small and medium enterprises as well as Islamic banks.

Nadir was speaking to reporters at a briefing on "China's Second Tier Cities - Potential and Opportunities", where he also presented talks on business opportunities in Sudan.

Meanwhile, Malaysia External Trade Development Corporation (Matrade) deputy chief executive officer Datuk Mohamad Kamarudin Hassan said the agency will organise a series of seminars to provide insights into market potentials in second-tier cities in China as well as identify the right entry strategies to penetrate the market.

Currently, the businesses in first-tier cities like Beijing, Shanghai and Guangzhou in China are described as reaching a plateau.

Statistics showed that these three cities have not only become too expensive, but have only managed to capture 24.1 per cent of China's total imports, while second-tier cities accounted for 51.3 per cent of China's global import.

"The rising income among the consumers in second-tier cities has created very promising markets for our Malaysian exporters," Mohamad Kamarudin said.

"Malaysian companies are generally not familiar with second-tier cities, we need to create the awareness," he said, adding that Malaysian companies that already have representation in the second-tier cities include Parkson and Nelson's Corn in a Cup.

There are some 13 second-tier cities in China including Chengdu, Chongqing, Xi'an, Zhengzhou and Shenyang.

In order to help tap into this opportunity, Matrade has planned three trade promotional activities in China, with a total participation of 300 companies.

The events include The 9th China-Asean Expo (Caexpo 2012) in Nanning, The Malaysia Services Exhibition (MSE) held together with the 13th Western China Fair in Chengdu, and the Canton Fair Autumn Session in Guangzhou.

Up to 40 per cent of the participating companies are new players.

Malaysia's total trade with China in 2011 was RM166.86 billion, while Malaysia's export to China reaching RM91.25 billion.

Malaysia's imports from China last year was RM75.61 billion, thereby creating a trade surplus of RM15.63 bilion - the highest in history.

China and Malaysia, agreed last year, to double the trade volume between the two countries in five years.

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Pos Malaysia in talks to buy Mideast courier
By SHAREN KAUR Published: 2012/08/10
http://www.btimes.com.my/Current_New...cle/index_html

ON M&A TRAIL: Group hopes to conclude deal with Arab company by the end of the year

POS Malaysia Bhd is in discussions with a company from the Middle East to buy a courier outfit to grow its business, group chief executive officer Datuk Khalid Abdol Rahman says.

Khalid said Pos Malaysia was looking at several merger and acquisition (M&A) opportunities to diversify its income base.

Pos Malaysia has unveiled an aggressive five-year strategic plan to double its fiscal 2011 revenue by 2017, improve current pre-tax margins of 12 per cent and explore new M&A opportunities.

The group, which changed its financial year-end to March 31 from December 31, recorded a pre-tax profit of RM200.2 million for the 15-month period ended March 31 2012 on revenue of RM1.48 billion. The courier business under PosLaju contributed about 20 per cent to the earnings.

For the deal with the Arab company, Pos Malaysia hopes to conclude it by the end of this year.

"If the deal happens, it will increase the capital expenditure we have budgeted for the current year to over RM150 million," Khalid said after Pos Malaysia shareholders' meeting here yesterday.

Pos Malaysia is budgeting between RM100 million and RM150 million annually for capital expenditure in the next five years to transform into a modern and high-performance organisation.

Meanwhile, Pos Malaysia chairman Datuk Seri Mohd Khamil Jamil said it was looking at synergies that could be developed with the DRB-HICOM group of companies.

DRB-HICOM Bhd is the largest shareholder of Pos Malaysia with a 32.2 per cent stake.

Mohd Khamil is also the group managing director of DRB-HICOM, which owns unlisted national carmaker Proton Holdings Bhd.

"A lof of companies under DRB-HICOM will be using the courier services of Pos Malaysia. There will also be synergies between Pos Malaysia and DRB-HICOM's Uni.Asia Life Assurance and Uni.Asia General Insurance outfits," he said.

Mohd Khamil said Pos Malaysia was also talking to DRB-HICOM's property division to build commercial properties on land it owns in Brickfields, Kelana Jaya and Batu Pahat in Johor, where there is currently a post office set-up.

"If we see potential than just a post office, then we will look into redevelopment," he said.

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Lufthansa looking at palm-based biofuel ro reduce carbon footprint
Published: Thursday August 16, 2012 MYT 11:38:00 AM
http://biz.thestar.com.my/news/story...&if_height=202

FRANKFURT: As one of the world's major producers of palm oil, Malaysia would certainly be interested to know that German airlines, Lufthansa, is looking at palm oil-based biofuel as an option to reduce carbon footprint.

Some of the possible resources for use as biofuel included vegetable oils derived from rapeseed, jatropha, camelina, palm and algae.

Experiments conducted in the course of research and development efforts by Lufthansa had shown that such vegetable-oil based fuel would not create any technical problems when used.

"The engine condition monitoring showed reduction in fuel consumption. The aircraft components were in perfect condition," said Daniel Riefer, Project Manager (Aviation Biofuel) Lufthansa AG in an interview with Bernama.

He said that the last Airbus flight had taken place on December 27 with the use of biofuel.

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CIMB may start broking in India, S. Korea
Published: 2012/08/16
http://www.btimes.com.my/Current_New...cle/index_html

CIMB Group Holdings Bhd, Southeast Asia’s top-ranked investment bank over the past three years, said it may start broking operations in India and South Korea after buying most of Royal Bank of Scotland Group Plc’s Asian investment banking assets.

The Malaysian lender may acquire existing broking licenses or apply for new ones in both countries, Nazir Razak, CIMB’s chief executive officer, told reporters in Kuala Lumpur yesterday, after unveiling a 14 percent jump in second-quarter earnings. It’s still in talks to buy a 50 percent stake in Australian brokerage RBS Morgans, he said.

“The whole idea is to build a comprehensive Asia-Pacific stockbroking and investment banking network,” Nazir said. “India and Korea are essential to such a network. We feel that we must be in both markets.”

The Kuala Lumpur-based lender has spent about US$2.3 billion on 19 acquisitions since Nazir became CEO in 2006, including the purchase announced in June of a 60 percent stake in the Philippines’s Bank of Commerce. The RBS deal allowed CIMB to absorb or buy investment banking and broking operations in markets including Hong Kong, Indonesia and Thailand.

Net income climbed to RM1.11 billion (US$354 million), or 14.9 sen per share, in the three months ended June, up from 970 million ringgit, or 13.1 sen, during the same period a year earlier, according to a Kuala Lumpur exchange filing yesterday. Even so, the group cut its dividend to 5 sen per share from 12 sen a year ago. -- Bloomberg

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Hibiscus invests in Aussie firm
By Francis Fernandez Published: 2012/08/15
http://www.btimes.com.my/Current_New.../HIBI/Article/



HIBISCUS Petroleum Bhd, a unit partly controlled by reclusive tycoon Tan Sri A. P. Arumugam, is buying 13.04 per cent of Australia's 3D Oil Ltd for RM6.7 million.

3D Oil, which is listed on the Australian Securities Exchange, holds a 100 per cent interest in the Gipps-land Basin permit VIC/P57, which contains the West Seahorse oil field as well as significant oil exploration opportunities.

In a statement to the stock exchange, Hibiscus said that Oceania Hibiscus Sdn Bhd, its wholly-owned unit, and 3D Oil have entered into a conditional subscription agreement for the subscription of 30,963,000 new fully-paid ordinary shares in the capital of 3D Oil.

Additionally, Oceania's wholly owned unit, Carnarvon Hibiscus Pty Ltd, and 3D Oil, entered into a conditional farm-in agreement for the acquisition of a 50.1 per cent unencumbered legal and beneficial right, title and interest in VIC/P57 and any petroleum recovered from the permit area for RM44.37 million.

VIC/P57 is located in the offshore northwest of the Gippsland Basin, Australia, with the northwestern boundary about eight kilometres offshore of the southeast Victorian coast. The Gippsland Basin is located largely offshore of Eastern Victoria.

It has been the most prolific hydrocarbon province in Australia, with initial resource estimates of more than four billion barrels of oil, condensate reserves and 9.8 trillion cu ft of gas reserves.

The Gippsland Basin has contributed some two-thirds of Australia's cumulative oil production and one-third of its gas production to date.

Hibiscus shares were suspended from trading by mid-day to help facilitate the announcement to the stock exchange. The stock ended the trading day five sen higher at RM1.88 a share.

[nazrey]

Sime Darby gets China's nod for trading business
Published: Monday August 13, 2012 MYT 5:36:00 PM
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KUALA LUMPUR: Sime Darby Bhd has received the Chinese government's approval to set up the Hangzhou Sime Darby Trading Company Ltd to trade in vehicle parts and lubricating oil.

It said on Monday the registered capital of Hangzhou Sime Darby Trading of about RM2.99mil would be held by its indirect 60%-owned subsidiary Shanghai Sime Darby Motor Commerce Company Ltd.

The company would be involved in the trading, import and export wholesale, retail, import and export of vehicle parts and accessories, lubricating oil, hardware tools, and electrical equipment parts.

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Germany's Seeburger makes KL its Asean regional HQ
By Ng Bei Shan Published: Monday August 13, 2012 MYT 12:57:00 PM
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KUALA LUMPUR: Germany's business integration and managed file transfer solutions provider Seeburger is setting up its Asean regional headquarters in Malaysia to drive its strategic expansion into the region.

Malaysia was chosen as its Asean hub due to lower operational costs, central geographic location, local information, communication techonolgy market's maturity and local potential.

"Malaysia shows its leadership in the area of data security with its impending Info Security Management System Certification enforcement in 2013," said Seeburger Asia Pacific Ltd regional director James Hatcher.

With the headquaters in Kuala Lumpur, the move would facilitate its regional partners in sales support and technical implementation.

Seeburger's partners in Malaysia, Time Engineering Bhd and Datamation (M) Sdn Bhd, will concentrate on providing its business integration suite to the local industries.

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OIC Summit suspends Syria's membership
Updated: Thursday August 16, 2012 MYT 1:03:20 PM
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Najib with Pakistan President Asif Ali Zardari at OIC Summit, Mecca

MECCA: The Organisation of Islamic Cooperation (OIC) passed three important resolutions for immediate implementation, including the suspension of Syria's membership.

The others are to give recognition to Palestine as a sovereign state and to champion the cause of the Rohingya Muslims in Myanmar.

Prime Minister Datuk Seri Najib Tun Razak said Malaysia fully supported the three resolutions adopted at the OIC's extraordinary summit here.

He said the summit outlined several immediate action that must be taken, including supporting the proposal by Saudi Arabia's King Abdullah Abdul Aziz Al Saud for the creation of a Muslim Dialogue Centre to discuss issues pertaining to sectarian ideologies.

“The summit meeting in Mecca, in conjunction with the 26th and 27th day of Ramadan had brought about a new spirit for the OIC and awareness among the leaders of Islamic nations to tackle issues affecting the Muslims throughout the world,” he told Malaysian journalists Thursday .

He said the resolutions passed at the Holy Land of Mecca was something special at the OIC this time. - Bernama

OIC suspends Syrian membership
The 57-member Organisation of Islamic Cooperation suspended Syria in a meeting attended by its staunch ally Iran, in a move hailed early Thursday by the United States as one that sends 'a strong message' to Damascus.