Malaysia - Countries of the World

[nazrey]

Genting to spend US$1.3b on NY deal
Published: 2010/08/17
http://www.btimes.com.my/Current_New...cle/index_html

Genting Malaysia is to spend US$1.3 billion to invest in its video lottery project in New York, according to an edited copy of the proposal posted on the New York lottery regulator’s website.

A report submitted by Genting to New York regulators says it will pay a licensing fee of US$380 million, US$350 million to develop the site. It also says it plans to build a resort comprising 3 hotels, shopping and other facilities.

Reuters

[nazrey]

Puncak Niaga, India’s P&C in pipeline deal
Published: 2010/08/17
http://www.btimes.com.my/Current_New...10341/Article/

PUNCAK Niaga Holdings Bhd has formed a 70-30 joint venture with Indian firm P & C Construction (P) Ltd to bid for a pipeline conveyance system project in Mangalore, India.

This is part of its business expansion plans in India, Puncak said in a filing to Bursa Malaysia yesterday.

The Mangalore Special Economic Zone Ltd will call for international tender of the project.

RELATED LINK: http://www.puncakniaga.com.my/

[nazrey]

Parkson
Parkson is a popular department store company in Malaysia which offers items at a medium rate. Parkson was established in 1987 as one of the largest retail chains in Malaysia at that time. Parkson Grand, Parkson Ria and U-Parkson are all operated by Parkson. Parkson currently has 35 outlets in Malaysia.

Parkson in China
Other than Malaysia, Parkson is also the largest department store company in China, with operations mostly in prime areas, which include 36 Parkson branded department stores and 2 Xtra branded ones.
Beijing
http://www.flickr.com/photos/ddtmmm/4161834261/
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http://www.flickr.com/photos/chinaretail/331531540/
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Shanghai
http://www.flickr.com/photos/chinaretail/357005736/
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Chengdu
http://www.flickr.com/photos/patriou...n/photostream/
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Parkson in Vietnam
As of November 2008, Parkson currently has 6 stores in Vietnam across 3 cities, i.e., Ho (4 stores), Hai Phong & Hanoi. The opening of Parkson Saigontourist Plaza on June 29, 2005, marked the entrance of Parkson as the leading department store in Asia and the first truly international department store to be opened in Ho Chi Minh City.
Ho Chi Minh City
http://www.flickr.com/photos/renzopix/4334387182/
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http://www.flickr.com/photos/kk_wpg/2655188444/
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http://www.flickr.com/photos/yeungheilam/1113012247/
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http://www.flickr.com/photos/bradgathright/3710941003/
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http://www.flickr.com/photos/e8club/2310603550/
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http://www.twip.org/image-southeast-...366-24258.html

[nazrey]

Jimmy Choo
Beverly Hills, CA
http://www.flickr.com/photos/bob_karol/2331628569/
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Sydney
http://www.flickr.com/photos/avlxyz/3846949715/
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London
http://www.flickr.com/photos/renzopi...7617878170667/
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HK airport
http://www.flickr.com/photos/mp3monster/4504511697/
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Kuala Lumpur
http://www.flickr.com/photos/vrocampo/3855607181/
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Dato' Jimmy Choo OBE, born Jimmy Choo Yeang Keat, (Chinese: 周仰杰) is a London-based luxury fashion designer best known for his hand-made women's shoes, Jimmy Choo Ltd.

Choo is a Malaysian citizen of Hakka Chinese descent, who was born in Penang in 1961 into a family of shoemakers. He made his first shoe when he was 11 years old. He is perhaps the most notable of students of Cordwainers' Technical College in Hackney, London, from which he graduated in 1983.

Choo currently resides in London. He is currently involved in a project to set up a shoemaking institute in Malaysia, where his iconic status is often evoked to inspire budding shoemakers and fashion designers.

Madrid
http://www.flickr.com/photos/7930641@N07/1313994567/
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Bangkok
http://www.flickr.com/photos/mistert/560224670/
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New York
http://www.flickr.com/photos/34061819@N08/4447944304/
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London
http://www.flickr.com/photos/mbdezines/4174786821/
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Barcelona
http://www.flickr.com/photos/sophiesdad/4018110515/
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Las Vegas
http://www.flickr.com/photos/kathika/3718267201/
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Tokyo
http://www.flickr.com/photos/24672979@N00/420047010/
image hosted on flickr

[nazrey]

Genting Malaysia Shareholders Yes To UK Casino Acquisition
August 24, 2010 19:24 PM
http://www.bernama.com.my/bernama/v5....php?id=523668

KUALA LUMPUR, Aug 24 (Bernama) -- Genting Malaysia Bhd shareholders have approved the resolution to buy Genting Singapore plc's operations in Britain (Genting UK) at the extraordinary general meeting held on Tuesday.

The vote in favour was 60.39 per cent, or 1.177 billion shares.

Genting's deputy chairman, Tun Mohammed Hanif Omar, said the company planned to expand its operations beyond offshore, focusing on Europe and the US.

Earlier, there were news reports that some of Genting Malaysia's shareholders were unhappy with the plan to acquire the UK casino operations as it was viewed as a related-party transaction.

They also felt the price was high compared to its current value.

Genting Malaysia had proposed to acquire the UK operations for 340 million (1=RM4.81) to complement its long-term international expansion strategy.

Its president/chief operating officer, Datuk Lee Chong Yan, was quoted as saying the acquisition would give the company access to established casino brands and an extensive network of casinos already operating across Britain.

"With our proven track record and decades of experience, we have the expertise to unlock the potential of Genting UK and grow the business in Britain," he was quoted as saying.

The acquisition is subject to approvals from Bank Negara Malaysia and the British Gambling Commission.

-- BERNAMA

[nazrey]

Malaysians Prefer To Visit Australia, China And Taiwan, Says Survey
August 25, 2010 21:26 PM By Zakaria Abdul Wahab
http://www.bernama.com.my/bernama/v5....php?id=523993

SINGAPORE, August 25 (Bernama) -- Malaysians have voted Australia, Taiwan and China as their top three desirable holiday destinations in the Asia Pacific region, according to a survey by Visa and Pacific Asia Travel Association (PATA) released here Wednesday.

The Asia Pacific Travel Intentions Survey 2010 showed that 16 per cent of the Malaysian respondents chose Australia as their main choice destination, another 12 per cent picked Taiwan and 11 per cent named China.

Overall, the survey revealed that 40 per cent of the 6,714 respondents surveyed in this year's research said they would consider travelling to Australia or Japan in the next two years.

When asked to name the most likely destination for their next Asia Pacific holiday, 17 per cent named Australia as their top destination while 16 per cent named Japan.

The survey asked respondents from 13 key Asia Pacific travel source markets (Australia, Taiwan, Hong Kong, India, Japan, China, Malaysia, New Zealand, Singapore, South Korea, Thailand, the United Kingdom and the United States) about past and future travel plans.

The survey also revealed that almost half of all those surveyed (47 per cent) said they arranged their trips themselves by booking directly with hotels and airlines.

Most travellers spent three to five nights on vacation, with 32 per cent of respondents saying this was how long they had been away on average over the last two years.

Most travellers tend to holiday with their spouse or partner, with 48 per cent saying they had done so on their travels over the last two years.

-- BERNAMA

[nazrey]

Malaysia's collaboration with National Geographic
Bernama, Monday, August 30th, 2010 15:57:00
http://www.mmail.com.my/content/4794...nal-geographic

KUALA LUMPUR: The Information Communication and Culture Ministry will intensify cooperation with the National Geographic Channel in efforts to produce quality documentary films, said its minister Datuk Seri Dr Rais Yatim.

He said local production houses should emulate the National Geographic Channel in monopolising the quality of production and command of the market in fulfilling market demand.

Rais said although the documentary production unit had been created in the Malaysian National Film Development Corporation (Finas), the quality of the production was still found to be wanting.

"There are inadequacies in terms of expertise in producing documentaries of quality for broadcast on local or international television.

"Thus, with the experience and expertise gained from the cooperation, we will be able to produce various documentaries in Malaysia to fill the vacuum," he told reporters after receiving a courtesy call from the National Geographic Museum director, Susan Norton, at his office, here today.

He said with the closer cooperation between the two parties, his ministry had set a target to produce documentaries comparable to those produced by the National Geographic before the end of the year.

Collaboration between the Information Communication and Culture Ministry, Finas and the National Geographic Channel had succeeded in producing six documentaries such as the one on the second prime minister, the late Tun Abdul Razak "A Leader's Legacy: Tun Abdul Razak", which was aired on Astro, on Aug 24.

Other documentaries were on the country's legendary footballer the late Mokhtar Dahari, Becoming A King, Fight Master: Silat, Among The Great Apes with Michelle Yeoh, and the Petronas Twin Tower and Smart Tunnel.

Meanwhile, Norton said the National Geographic could look forward to finding more projects in future to bring up Malaysia into the world.

"I think that is wonderful to showcase what has been done in Malaysia, by the National Geographic. I hope that can be done...there are so many possibilities, we just need to figure them out," she said.

Famous NatGeo exhibitions may be brought to M'sian shores

KUALA LUMPUR: Malaysians may be able to see some of the National Geographic's famous exhibitions here one day, visiting National Geographic Museum Washington DC director Susan E.S Norton said.

She said exhibitions that are possible to be brought here are such as the "National Geographic Crittercam: The World Through Animal Eyes" and "The Lions and Leopards, The Work of Dereck and Beverly Joubert".

"I would like to bring some of the exhibitions here. But we need to see how this can work out," she told Bernama after presenting a seminar at the Department of Museums here, today.

She is here on a one-week's visit as a state guest to tomorrow's 53rd Merdeka celebration.

Norton, who has 15 years of experience in managing the National Geographic Museum, said at best curators should try to use simple equipment and tools in their exhibits as a means to engage and interact with visitors.

"People like to be able to feel and touch, thus sometimes using low technology is better to engage them in the process than using high technology," she added.

During her stay, she had also visited the National Museum and the Islamic Museum and was equally impressed with the exhibits as well as the media they used.

[nazrey]

Virgin's Branson to address KL forum
Published: 2010/09/01
http://www.btimes.com.my/Current_New...ano-2/Article/



FOUNDER and chairman of the Virgin Group, Richard Branson will be in Kuala Lumpur to participate in the "Dawn of the New Decade - Alternative Investments in Asia" forum.

The event is being staged by the venerable International Herald Tribune in association with the London Speaker Bureau.

The forum is the first of its kind to be staged in Asia and it will feature more than 15 leading luminaries in the field of finance and investment.

Prime Minister Datuk Seri Najib Razak will be delivering the official keynote speech at the event which takes place on September 27 and 28 at the Renaissance Hotel in Kuala Lumpur.

Branson requires little introduction as few people are as internationally well known, fewer still as universally liked and respected.

His entrepreneural skills, inspiring business leadership and fearless adventure spirit makes Branson an ambassador for the "can do" attitude.

Branson will be giving his eagerly anticipated special keynote speech on the opening day of the forum.

The billionaire is expected to outline his thoughts on the current investment landscape and on the growing importance of Asia.

As the head of Virgin Atlantic Airways, he has a particularly relevant perspective on the airline industry, however, as the owner of 360 other companies the depth and breadth of his experience is virtually peerless.

Recently turned 60, Branson began his life in business at the tender age of 16 launching a magazine called Student. By twenty two, he had a chain of successful record stores.

Then came the airline, the mobile phone operator, a railway, a healthcare company and even a space tourism company. He is now worth an estimated US$4 billion (RM12.6 billion). His philanthropy is as famed as his trans-continental balloon voyages.

Attending the two-day forum will be over 1,000 delegates from across the region including some leading bankers, investors and fund managers.

They will be hearing not just from Branson but also from Mary Buffet, daughter-in-law of Warren Buffet, arguably the world's most successful investor. The other speakers include Anil Gupta, renowned expert on strategy and globalisation; Dr Fang Gang one of China's most influential economists and Augusto Lopez-Claros, chief economist with the World Economic Forum.

Being a regional event, the forum will be heavily publicised throughout the IHT and worthy of further note is that Malaysia was selected as host above some strong competition.

More information about the forum is available at www.invest2010.asia

[Gigawatt]

Nice post...Thank you very much!!......

[nazrey]

Malaysian firms buying US corporate assets
Published: 2010/09/02
http://www.btimes.com.my/Current_New...myork/Article/

NEW YORK: Malaysian companies are among entities from emerging economies buying corporate assets in the US in the first half of this year.

US companies are the most popular targets for acquisitions by emerging and high-growth market companies in the first half of 2010, according to KPMG LLP, a global audit, tax and advisory firm providing services to US-based companies in their pursuit for outbound investment opportunities in high-growth and emerging markets.

Activities by emerging market companies aimed at developed economies jumped 25 per cent over the year-earlier period.

The KPMG International's latest "Emerging Markets International Acquisition Tracker" (EMIAT) study reveals that in the first six months of 2010, emerging and high-growth market companies acquired 54 US companies, while Chinese firms were the leading emerging and high-growth market targets for US companies.

Companies in the emerging and high-growth markets made 243 acquisitions in developed economies in the first six months of 2010, up from 194 in the year-earlier period, according to the KPMG study which tracked completed deals in which an acquiring company took at least a 5 per cent shareholding interest.

India was the top acquirer in emerging-to-developed deals in the study, bagging 50 acquisitions in the first half of 2010.

India was followed by Southeast Asia (47), China (39), Malaysia (30) and Central America and the Caribbean (17) in the same period.

In the second half of 2009, the top high-growth market acquirers of companies in developed economies were Southeast Asia (34), China (30), Malaysia (26), India (21), and Russia (20), according to the KPMG study. - Bernama

[nazrey]

Scomi opens waste mgt facility in Norway
Published: 2010/09/02
http://www.btimes.com.my/Current_New...cle/index_html

Scomi Group Bhd’s Norwegian subsidiary in the oil and gas industry, Scomi Oiltools AS, opened its drilling waste treatment plant in Sandnessjoen, Norway, today.

President of Scomi Oiltools Steve Bracker said the company will be working together with its Norwegian partner, Veolia Miljo, to provide services at Sandnessjoen.

The facility will source most of its technical and operations personnellocally. Veolia Miljo AS is Norway's leading environmental services provider.

Bracker said Norway has stringent regulations when it comes to dischargingwaste and waste water.

"Therefore, our facility features the integration of two of waste treatments most advanced technologies, namely thermal desorption and membrane technology, into a single seamless system for waste elimination. -- Bernama

[nazrey]

Green Packet aims to clinch 3 WiMAX deals
By EUGENE MAHALINGAM Thursday September 2, 2010
http://biz.thestar.com.my/news/story...9&sec=business



Kelvin Lee exchanging documents with Alistair Johnston
after the MOU signing ceremony

PETALING JAYA: Green Packet Bhd aims to secure two to three contracts worth about US$2.5mil (RM8mil) each by the year-end to supply WiMAX modems to operators in the Middle East and American continents.

“We have secured over 30 deals, supplying 130,000 WiMAX modems in the first half of 2010,” senior general manager Kelvin Lee said at a signing ceremony between Green Packet and Augere Holdings.

“We are looking at securing two to three major contracts in excess of US$2.5mil each to supply WiMAX modems to operators in the two (Middle East and American) regions.”

Lee declined to disclose further information on the proposed contracts.

Green Packet yesterday signed a memorandum of understanding worth US$7.2mil (RM23mil) to provide UH Shuttle USB modems to Augere to support the latter’s broadband services operations in South Asia.

Augere is a London-based wireless broadband delivery company.

Augere marketing director Alistair Johnston said the modems would be deployed in Pakistan and Bangladesh, two countries where the company had a presence.

He said Augere chose Green Packet’s shuttle modem because of its high-gain antennas that gave good indoor and outdoor signal-quality performance during testing.

“We look at markets where the (Internet) penetration rate is low and there is high growth potential. Pakistan and Bangladesh have a huge population and provide good growth opportunities for us,” said Johnston.

Augere also has a presence in India, Uganda and Rwanda. Johnston said the company was looking to secure licenses in more countries in East Africa.

He said Augere’s goal was to reach out to developing markets where broadband Internet was “out of reach”.

RELATED LINK: www.greenpacket.com/

[nazrey]

M’sian fashion on show in Melbourne
September 2, 2010, Thursday
http://www.theborneopost.com/?p=63587

MELBOURNE: Two of Malaysia’s labels and designers -– Full House and Wati Brady — will make their debut at the Melbourne Fashion Festival on Saturday.The multicultural and diverse fashion range will also feature New Zealand designer BangsBoutique, Chinese designer Sleep Couture and designer Lolaraine who will feature fashion collections from South Korea, the US, Japan and Hong Kong.

Full House fashion label was established in 2008 when it started out as a concept store, restaurant and caf&eacute. There are now five boutique stores in the Klang Valley.

Full House produces opulent and carefully designed pieces that bring out the feminine figure.

The designs featured are frilly, young and fun looking with a classical twist widely seen and worn by women aged 16 to 35.

The label is also made and sold in South Korea and many of the designs portray the lifestyle image of Asian celebrities.

Full House fashion director Chloe Kuan told Bernama a Full House dress enabled its wearer to enjoy a unique creation as well as to project an image similar to that of a celebrity. It is also about being noticed and respected as a chic or stylish individual, Chloe said.

Headlining the formal runway show will be Wati Brady, a Malaysia-born designer now living in Mornington Peninsular, about 40km from here.

Wati, who brings in a modern and modest touch of fashion, said her label was founded on the idea that modesty, style and high quality go well together.

“Our clothing line consists of simple, classic and traditional designs using modern fabrics with hand-made embroidery/crystal beads and finishing techniques tailored to your specifications,” she said.

“Whatever your lifestyle, you will find my designs, high in quality and a fashion direction that will easily take you from home, to the office and elsewhere in style,” said Wati.

Wati Brady Fashion was founded in 2009 and will have a boutique in Melbourne and Malaysia by 2011.

Completing the line-up is Singapore-born designer and boutique manager Lola Raine with her label ‘Lolaraine’, showcasing a wide spectrum of cocktail and classy dresses, New Zealand-born designer Drew Sinclair of Bangsboutique with his newly crafted denim casual wear and Loraine Lau of Sleep Couture featuring warm and comfy sleepwear specific for Melbourne’s famous ‘four seasons in a day weather’. — Bernama

[nazrey]

Malaysia rubber exports to hit RM11.1b
Published: 2010/09/03
http://www.btimes.com.my/Current_New...cle/index_html

Malaysia’s rubber industry outlook is expected to improve with product exports set to reach RM11.1 billion this year as global demand rebounds, Trade Minister Mustapa Mohamed said in a speech in Kuala Lumpur today.

There is a recovery in the global and domestic automotive industry and a strong performance in the rubber-glove sector, he said.

He also said Malaysia’s latex industry will continue to grow strongly in the near future.

The industrial rubber-product industry needs to be effectively coordinated to provide greater impetus to realize the nation’s third Industrial Master Plan, he said. -- Bloomberg

[nazrey]

Matrade to promote Malaysian designs in Paris
Published: 2010/09/04
http://www.btimes.com.my/Current_New...atris/Article/

MALAYSIA External Trade Development Corp (Matrade) will be leading a delegation of eight Malaysian designers to Who's Next 2010, a leading annual fashion trade show in Paris.

The show, which begins today, will be on until next Tuesday.

"Our participation at Who's Next 2010 is a continuous effort to internationalise Malaysian designs and fashion brands in the global market," said chief executive officer Datuk Noharuddin Nordin in a statement yesterday.

This is the third time Matrade is organising the participation of Malaysian fashion designers in the event to promote local fashion brands, and create awareness of Malaysia's capability in designing a diverse range of fashion apparels, to the international fashion community.

The event will be organised in collaboration with the Malaysia Handicraft Development Corp and Tourism Malaysia.

The designers' brands will showcase the best of Malaysia's creative collections, namely Calvin Thoo, Khoon Hooi, Intoxi-Kate, Innai, Sofira, Ikarrtini, Meesha Sukira and Rizman Ruzaini.

"Malaysian designers will be able to offer buyers an end-to-end product comprising creative designs, concepts and manufacturing capabilities.

"This is a good opportunity for Malaysian fashion designers to find new markets and network with potential foreign buyers and importers from all over the world," said Noharuddin.

Matrade said participation at last year's event resulted in Malaysian designers concluding sales of almost RM1 million and receiving serious enquiries for future sales.

Moreover, Malaysian fashion designers have been able to brand themselves during the event and reinforce their position and reputation among international buyers.

"Strong brands can create identity and differentiate Malaysia's products and services to further penetrate the competitive global market. A brand name's reputation is not only about quality," added Noharuddin. - Bernama

[nazrey]

Guangxi to buy more palm oil from Malaysia
From Ooi Tee Ching Published: 2010/09/06
http://www.btimes.com.my/Current_New...po3-2/Article/

NANNING: China's southern province of Guangxi plans to buy more Malaysian palm oil as its food processing industry advances and its 48.6 million population grows, said several government officials.

It now imports around 20,000-30,000 tonnes of palm oil from IOI Corp Bhd.

"We welcome Malaysia's investment. The oils and grain sector is a strategic area of focus," said Li Xing, vice-mayor of Qinzhou.

"Over the last decade, Singapore's Nobel Group has upgraded its grain processing plant to produce 600,000 tonnes of soyameal a year to feed the pigs, water buffaloes and poultry farms here," she told Business Times on the sidelines of a media preview tour of the China-Asean Expo here recently.

Guangxi's cake and biscuit industry uses palm oil for cooking oil and margarine, said Jiang He Sheng, vice-mayor of Quigang city.

Apart from small shipments into Guangxi province, IOI Group's main client is China's largest food and oil trader, Cofco Ltd.

Other palm oil giants with extensive refineries in Indonesia such as Singapore's Wilmar International Ltd and Kuala Lumpur Kepong Bhd trade regularly with China. With 1.3 billion people, China is the largest vegetable oil consumer in the world. Last year, it imported 6.6 million tonnes of palm oil.

Guangxi, which nestles among Yunnan, Guizhou, Hunan and Guangdong provinces, has a coastline of 1,500km.

It was reported the Guangxi government will pump in six billion yuan this year to expedite port facility upgrades to meet greater demand from Asean.

Currently, its three ports, namely Beihai, Fangchenggang and Qinzhou, have established routes with 220 ports in 80 countries. The total annual throughput of the ports rose by 16.3 per cent year-on-year to reach 94 million tonnes in 2009.

[nazrey]

All 11 at Lincoln University are safe
Monday September 6, 2010
http://thestar.com.my/news/story.asp...512&sec=nation

JOHOR BARU: All 11 Malaysian students studying at Lincoln University in Christchurch are safe in the wake of a 7.1 magnitude earthquake hitting the city.

Higher Education Minister Datuk Seri Mohamed Khaled Nordin said the Malaysian Students Department in Wellington contacted the students, including eight females, and informed their families of their safety.

“In view of damaged roads and the curfew imposed, MSD officers in Wellington are not allowed to go to Christchurch.

“We can only contact the students and identify their needs, including Muslim students who are fasting during Ramadan,” he said here yesterday.

Mohamed Khaled urged Malaysian students to register themselves with the department to enable assistance to be rendered to them.

The earthquake, the strongest in 80 years, caused widespread damage in New Zealand’s second largest city and several parts of the South Island. — Bernama

[nazrey]

Jom Makan to open third outlet at UK varsity
By Sharen Kaur Published: 2010/09/07
http://www.btimes.com.my/Current_New.../JOM6/Article/



SUCCESSFUL Malaysian gastronomic brand, Jom Makan, will open its third outlet in the UK on September 27 at the Loughborough University.

The opening represents a major coup for the Malaysian restaurant brand as it will be the first full-fledged Malaysian food outlet to operate in a prestigious campus in the UK.

With an annual student population of 25,000, Jom Makan will introduce the Malaysian dining experience that will impact the future international working population for Malaysian cuisine.

Jom Makan serves fast, fresh Malaysian food of the traditional and hawker vendor styles with a fusion touch.


It will offer halal meals to the students, the Muslim community and general public in the Nottingham, Liecestershire and Loughborough areas.

Mohd Zuhri Abdullah, the managing director of Jom Makan in the UK, said he is proud to open a third outlet in the region and serve healthy and tasty Malaysian meals in a prestigious campus.

"(The) Loughborough University is an exciting new site for us and great news for the thousands of students who will be given the opportunity to sample real Malaysian food at a great price right on campus," Mohd Zuhri said in a statement.

"With the third outlet, we believe it will open up spin-off opportunities," he said.

Mohd Zuhri said pricing of the Malaysian dishes at the university will be more affordable than at commercial restaurants in London.

The first Jom Makan outlet opened at Pall Mall East near Trafalgar Square in June 2008, followed by the second outlet at Westfield Shopping Centre in White City in October 2009.

[nazrey]

Naza aims to locally assemble Chevrolets
By Adeline Paul Raj Published: 2010/09/07
http://www.btimes.com.my/Current_New...nazzz/Article/



AUTOMOTIVE group Naza, which is in talks with US giant General Motors (GM) to produce Chevrolet cars in Malaysia, aims to sell between 35,000 and 45,000 units by 2015.

Since March, its unit Naza Quest Sdn Bhd has become the country's sole distributor of Chevrolet cars. It imports the cars from Thailand.

To achieve its sales volume target, Naza will need to start assembling the units locally, group joint executive chairman and chief executive officer Datuk SM Faisal SM Nasimuddin said.

Naza is already engaged in early talks with GM on plans to assemble or even set up a manufacturing plant in Malaysia, SM Faisal said.

"For me, it's very simple. We need to do it. With the kind of volume we're targeting, it will definitely require certain facilities. Either we expand our plant in Gurun or we explore other avenues," he said yesterday after sealing a deal with AmBank (M) Bhd, which will become the official capital financing provider for Chevrolet dealers in the country.

GM could use Malaysia as its hub to reach out to the regional market, SM Faisal said, adding that certain models produced here could also be exported to Europe or Australia.

"We're talking to GM to produce one or two cars for the right-hand-drive market," Faisal said.

Malaysia, however, faces competition from other countries like Thailand and Indonesia, which are also keen to become the regional hub for GM.

Naza plans to make Chevrolet one of the top four non-national cars in Malaysia within five years. This will take some work given that the brand is not even in the top ten at present, Faisal acknowledged.

Prior to Naza Quest taking over the distributorship, some 16,000 units of the car had been sold in Malaysia.

"We're targeting people that are currently driving Toyotas and Hondas. We can have the full product line-up here over the next three years," he said.

Naza aims to have a network of 40 dealers nationwide by 2013 from just 11 now.

Faisal said the outlook for the car industry in Malaysia this year is positive, with no indications of any slowdown.

"This has been the best performing year for the Naza group, in terms of volume."

The group aims to capture 8 per cent of the passenger car market this year from between 5 to 6 per cent currently, he added.

Meanwhile, AmBank, the country's top car financier, will initially allocate RM50 million in financing for the dealers, its managing director Datuk Mohamed Azmi Mahmood said.

[nazrey]

India-Malaysia trade to hit new pitch
Published: 2010/09/07

A top global bank has forecast that India-Malaysia trade would hit a new pitch given the global economic recovery mood and as both traditional trading partners ride on economic prosperity.

HSBC, India, is upbeat that India-Malaysia trade would breach past years trade figures, as both economies ramp up their export sector.

"This year, we expect trade volumes between India and Malaysia to recover, in consonance with that of Asian and global economies.

"As both countries look to move exports up the value chain, we will see exciting opportunities emerge in diverse fields, from biotechnology and electronics to agriculture," Stuart Davis, chief executive of HSBC, India, told the Economic Times.

Total trade between Malaysia and India, Asia's third largest economy propelling at about an eight percent growth, touched a record RM32.6 billion (US$10.5 billion) in 2008 but slid to RM22.6 billion (US$7.3 billion) during the recession-hit 2009.

In a special report published by the newspaper on "India-Malaysia Ties", HSBC expressed confidence that the trend would alter, as both governments have initiated key economic policies to facilitate cross-border trade and investments.

"We are very optimistic about inherent business potentials in this trade corridor," added Puneet Chaddha, managing director and head (commercial banking) of HSBC, India.

"As the Indian economy and world at large recover, there would be a pick-up in demand for oil and higher value added items, and therefore, we see no reason why trade values cannot reach and indeed surpass the 2008-2009 figures," he added.

The Comprehensive Economic Cooperation Agreement (CECA), currently being negotiated by both countries, would further open up new trade opportunities.

"There is lot of untapped potential and the opportunities are immense. There is a lot of room for bilateral investments particular to the manufacturing sector," Chadda said.- Bernama